Wednesday, October 14, 1998
Gupta defends high payout, says US-64 recast needless
Industrial Development Bank of India chairman GP Gupta, who was at the helm of affairs at Unit Trust of India till June 30, has defended the the trust's decision under his stewardship to declare a 20 per cent dividend on the Unit-64 scheme for 1997-98.
Ministry set to take up IBP alliance plan with state-run oil firms' chiefs
The ministry of petroleum and natural gas will hold a brainstorming session on Wednesday to discuss an alliance of IBP, Madras Refineries (MRL), Cochin Refineries (CRL) and Bongaigaon Refinery & Petrochemicals.
UTI alters tack, picks short-term commercial paper
The Unit Trust of India has conveyed to its fund managers at an internal meeting that it is moving towards disclosing the US-64's net asset value (NAV). The Unit Trust has also changed its investment strategy by picking up short-term commercial papers (CPs) of triple-A (AAA) rated corporates.
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