Tuesday, May 11, 1999
LIC's kitty for equities may be Rs 2,500 cr
The Life Insurance Corporation, one of the leading institutional players in the capital market, is planning an exposure of around Rs 2,500 crore in equities as part of its total investment of around Rs 26,000 crore during 1999-2000.
SBI MF's Liquibond Income Fund mops up Rs 100 cr
The SBI Magnum Liquibond Income Fund has crossed the Rs 100-crore mark in terms of mobilisation. The fund launched on December 1, 1998 had collected an initial corpus of about Rs 34 crore.
Safety bond coupon slashed by 125 basis points
ICICI has slashed the coupon rate on its latest bond issue by a whopping 125 basis points. The lower yield apart, there is no tax benefit under Section 88 of the IT Act. Worse, there is no new instrument on offer even though the umbrella prospectus had mentioned a number of product innovations.
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