Kotak Mahindra Finance (KMFL) on Friday has decided to refund the service and documentation charges in full to all the succesful and unsuccessful investors who had applied in the book building portion of Hughes Software System initial public offering. According to a KMFL release, the company had collected Rs 1.5 crore as service and documentation charges from the investors who had applied in the book building part of the issue which closed on September 28.

Earlier on September 22, KMFL had introduced a financing scheme for the Hughes Software Systems book build portion and the company had collected non-refundable service charges including documentation charges covering estimated interest costs and operating costs from the investors who want financing through KMFL.

Plama surges on bourses

The scrip of a little known pharma company of 1995 vintage, Plama Laboratories Ltd, which was languishing at just Rs 3.50 in early this year, has suddenly made strides in the past three weeks. For more than two weeks continuously, Plama counter was "buyer- packed" and, consequently, the scrip hit the circuit almost every day.

`Roll back takeover trigger limit'

A roll-back of the trigger limits prescribed by the Sebi Takeover Code to original levels is among some major changes anticipated in the near future, noted legal expert Shardul Shroff said here today.

Open-ended equity funds make money

After a year like 1999, who's going to complain? Diversified equity mutual funds, on the way to become the staple diet of most investors' portfolios, earned an average return of 86.00 per cent, adjusted for dividends. What do these impressive returns reveal: have fund managers really become smarter or are the returns just a reflection of the current market rally?