'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
To maximise returns even during such bullish phases, it is imperative that investors time their entry and exit from the markets.
Bakshi had moved the application under Section 9 of the Conciliation and Arbitration Act, dealing with foreign arbitration and foreign tribunals.
For a large section of mutual fund investors the Net Asset Value (NAV) is the deciding criterion for investing.
The BSE Sensex lost about 1,600 points, while the National Stock Exchange Nifty was down about 400 points.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
Average net asset values of Indian equity funds broadly outpaced their benchmarks in February, buoyed by pre-Budget hopes, but overall gains were muted by jitters over a possible Gulf conflict, analysts said.
Finance Minister Jaswant Singh said on Tuesday that the government was committed to appointing a professional to head the UTI-II, which runs all the net asset value based schemes.
But there is a possibility of conflict of interests in the theoretical sense.
Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, "Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale." However, switching in mutual fund would attract stamp duty. "The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership," Sebi said.
Vikram Bakshi on Friday offered to sell his 50 per cent stake in Connaught Plaza Restaurants, the joint venture with McDonald's that operates fast-food restaurants in north and east India, for Rs 1,800 crore (Rs 18 billion).
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
Raghavendra Kamath reports on what ails India's real estate sector.
Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
The fund house says it is doing this to protect the interests of existing investors.
With the stock coming under pressure, the MF holding value could have dropped to Rs 50 billion, back-of-the-envelope calculations show.
With markets expected to remain volatile, promoters and lenders exposed to the industrials and materials space can face brunt of the price erosion of the pledged shares.
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
Short-covering and the propping up of net asset values have potential to boost frontline as well as second-rung names next week
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
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