Snippets

UTI Index Select declares dividend
UTI Index Select Fund has declared a tax-free dividend of 120% (Rs 12 per unit on face value of Rs 10). The record date is January 14, 2008. All unit holders registered under the dividend option of the UTI Index Select Fund as on January 14 will be eligible for the dividend. Also, investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.

Single-premium plan from Tata AIG Life
Tata AIG Life Insurance Company launched its first single-premium annuity plan last week. The plan provides return of purchase price, and offers annuity payments throughout the lifetime of the annuitant. The plan comes in two versions—Easy Retire Immediate Annuity Plan, and Group Immediate Annuity Plan-–catering to the retail and corporate segments of the insurance market.

Mid N Small Cap Fund from Lotus
Lotus India AMC, a joint venture between Fullerton Fund Management Group and Sabre Capital Worldwide, has launched a three-year closed-ended equity scheme called Lotus India Mid N Small Cap Fund. The investment objective is to provide long-term capital appreciation by investing in equity and equity-related instruments of mid- and small-cap companies.

Kotak Mahindra MF declares dividend
Kotak Mahindra Mutual Fund has announced a tax-free dividend of Rs 6 per unit (on a face value of Rs 10 per unit) in its Kotak 30 scheme. The record date is January 11, 2008. The scheme’s objective is to generate capital appreciation from a portfolio of predominantly equity and equity-related securities. The scheme invests in around 30 companies, and may add another nine.

Inflation unchanged at 3.5%
Wholesale price-based inflation was steady at 3.5% in the last week of December, despite a slight drop in prices of food items like pulses, fruits and vegetables, and unchanged prices of fuels and lubricants. Inflation was 5.89% in the corresponding week last year.

Reliance Power initial public offer closes on Friday
Reliance Power is making an IPO of 160 crore shares to part-finance 12 proposed power projects envisaging an estimated investment of nearly Rs 1,00,000 crore. The IPO, estimated as India’s biggest to date, is expected to raise about Rs 12,000 crore. The price range of a share is pegged at Rs 405-450. The IPO closes on January 18.

 

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