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Global ETFs catch mutual funds' fancy
Benchmark plans Hang Seng as underlying; Reliance looks at MSCI.

NEWSALERT: DoT proposes to levy penalty of Rs 135.6 cr on telcos
Department of Telecom (DoT) proposes to levy Rs 135.6 crore penalty from telecom operators for missing network roll-out obligations. Tata Teleservices faces penalty of Rs 37.6 crore, Aircel Rs 28.85 crore, Bharti Airtel Rs 31 crore and RCom Rs 19.45 crore, among others.

News of the day

Tata Sons busy behind closed doors at equity infusions
Tata Sons, the holding company of the Tata Group, sold close to 25 million shares in Tata Consultancy Services (TCS) in the 2008 financial year, raising Rs 2,500 crore to increase stakes in other group companies like Tata Steel, Indian Hotels, Tata Power, Tata Tea and Trent.
Corporate

Jaiprakash gets shareholders nod for investment plan

Jaiprakash Associates today said its shareholders have approved an additional investment of Rs 200 crore in the company"s two subsidiaries. - Jaiprakash Cement"s Sept sales rise 13% - Jet gets shareholders" nod for raising $400 mn - Sensex snaps five-day rally - Jaiprakash tumbles on treasury sale - Markets continue to drift in the negative - Jaiprakash, IDFC bouyant on Nifty-50 inclusion Shareholders have approved to make additional investment of up to Rs 200 crore in aggregate in two subsidiaries of the company, Bhilai Jaypee Cement and Bokaro Jaypee Cement,through various means including equity, debt and guarantee, Jaiprakash Associates said in a statement to the Bombay Stock Exchange (BSE). Further, the shareholders have also given their approval to make investment of surplus funds of the company from time to time in mutual fund scheme, debt instruments or securities, it added. Shares of Jaiprakash Associates closed at Rs 230.65, down 0.37 per cent on the BSE.


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