Falling market and redemption pressure pull down AUMs Total asset under management (AUM) of equity mutual funds (MFs) in October 2009 stood at Rs203,826 crore, 4.3% lower than that in September 2009. On adjusting for net inflows/outflows, the same declined by 3.2%, which was better than the market decline of 7.2% in the same period. … [Read more...]
Archives for 19/11/2009
Stock update ; Jaiprakash Associates
Jaiprakash Associates Cluster: Ugly Duckling Recommendation: Hold Price target: Rs266 Current market price: Rs237 To raise funds through equity dilution in subsidiary The management of Jaiprakash Associates Ltd (JAL) has announced that the company is looking at diluting 15% stake in its subsidiary, Jaypee Infratech Ltd (JIL), for Rs2,500 crore. JIL is constructing the … [Read more...]
STOCK UPDATE ;Selan Exploration Technology
Selan Exploration Technology Cluster: Ugly Duckling Recommendation: Hold Price target: Rs360 Current market price: Rs336 Price target revised to Rs360 Result highlights Selan Exploration Technology (Selan) has announced its results for the second quarter of FY2010. On an annual comparison basis, Selan?s Q2FY2010 revenues are down sharply by 48.4% as its realisations … [Read more...]