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The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be:
Franklin India Opportunities Fund - Dividend Plan and Direct - Dividend Option: Rs 0.70 under each plan / option
Franklin India Infotech Fund - Dividend Plan and Direct - Dividend Option: Rs 2.00 under each plan / option
Oct 14, 2013, 08.37 PM IST
SBI Magnum Balanced Fund announces dividend, for which the record date for dividend is October 18, 2013..
Oct 14, 2013, 08.42 PM IST
Reliance Mutual Fund announces dividend under two schemes, for which the record date for dividend is October 17, 2013..
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Reliance Mutual Fund declares dividend under two schemes
Reliance Mutual Fund announces dividend under two schemes, for which the record date for dividend is October 17, 2013..
Like this story, share it with millions of investors on M3
Reliance Mutual Fund declares dividend under two schemes
Reliance Mutual Fund announces dividend under two schemes, for which the record date for dividend is October 17, 2013..
Oct 14, 2013, 08.46 PM IST
Over the next few months, Hero MotoCorp plans to take their overall scooter production to around 75,000 units per month as compared to 55,000-60,000 units that they currently do.
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Hero to hike scooter production to boost mkt share
Over the next few months, Hero MotoCorp plans to take their overall scooter production to around 75,000 units per month as compared to 55,000-60,000 units that they currently do.
Like this story, share it with millions of investors on M3
Hero to hike scooter production to boost mkt share
Over the next few months, Hero MotoCorp plans to take their overall scooter production to around 75,000 units per month as compared to 55,000-60,000 units that they currently do.
Currently, Hero and its erstwhile partner Honda together hold a majority market share of 70 percent post Bajaj Auto exiting the scooter segment around three years back.
This move by Hero MotoCorp comes at a time when it is facing a lot of competition in its core motorcycle segment where they currently have nearly 52 percent market share. They believe their focus on scooter segment could take their overall scooter share to almost 25 percent as compared to the current 20 percent.
Also read: Hero MotoCorp unveils 15 new products
In this financial year from April to September, the company's scooter business has grown over 40 percent as compared to a decline in its motorcycle sales by 3 percent during the same period.
Over the next few months the company plans to take their overall scooter production to around 75,000 units per month as compared to 55,000-60,000 units that they currently do, according to some company executives that CNBC-TV18 spoke to.
Moreover, "Leap" which was the hi-tech hybrid scooter that Hero had showcased last year in the auto expo would be production-ready by February and would once again be showcased in the auto expo. However, they have not taken a call on when it will be launched.
On October 14, 2013, Hero Motocorp closed at Rs 2100.05, up Rs 22.05, or 1.06 percent. The 52-week high of the share was Rs 2127.70 and the 52-week low was Rs 1434.05.
The company's trailing 12-month (TTM) EPS was at Rs 102.72 per share as per the quarter ended June 2013. The stock's price-to-earnings (P/E) ratio was 20.44. The latest book value of the company is Rs 250.70 per share. At current value, the price-to-book value of the company was 8.38.
More from Ronojoy Banerjee
Oct 14, 2013, 08.46 PM IST
DWS Money Plus Fund announces change in exit load, with effect from October 14, 2013
Also read: NSEL probe gathers momentum; EOW questions former CFO: Srcs
The ED has filed charges which include criminal conspiracy under section 120 (b) and forgery. Under the Prevention of Money Laundering Act (PMLA), the ED can exercise its powers to attach properties and assets of NSEL promoters, directors and Financial Technologies too.
Meanwhile, the Forward Markets Commission (FMC) met the EOW today to discuss the e-series settlement plan as directed by the court. While FMC will be focused on clearing dues, EOW will be looking into clearing dues and legality of clearing the dues. EOW is also expected to file an affadavit giving its current update on their ongoing probe to the court on October 18.
Currently, the EOW has looked into the account entries of NSEL . It has conducted site visits and forensic audit and is verifying claims by defaulters. While 41 suspects who were called for summoning have come for questioning, 30-33 have cited their reasons of unavailability.
While few defaulting borrowers like Mohan India claim to have assured NSEL of some settlement, sources have indicate that EOW has still not heard from Anjani Sinha who was summoned by the agency 14 days ago. However EOW is not looking at taking any immediate action and is likely to take strict action once its investigation with respect to defaulters, borrowers gets over.
After good showers in many parts of the country last week, this week will be a comparatively drier with rainfall figures dropping down significantly. Let's have a look at the weather forecast for the week in India:
North India As winds have changed to dry northwesterlies, weather in entire north and northwest will be warm and dry this week. Skies will be mainly clear to sunny. Delhi has had the longest monsoon this year but now conditions are also looking favorable for the retreat of monsoon in next 48 to 72hours. Maximums are expected to rise by 1 to degrees and hover around 34 to 35 degrees. Nights will however, become cool and comfy with minimums falling by 2 to 3 degrees below normal and settling between 20 to 22 degrees.
East and Northeast India Cyclone Phailin has lost its intensity but light to moderate rain will continue in Bihar, Jharkhand and West Bengal for the next two days. Though rain will continue till the end of the week in these states but the intensity will become very light. Skies will remain cloudy. Orissa is also expected to receive isolated light showers in the initial first two to three days of the week. Day temperatures which were maintaining six degrees below normal, will now start rising gradually and settle around 32 to 33 degrees. In the Northeast, scattered light rain will continue at Assam and Arunachal Pradesh for this entire week and maximums will be 2 to 3 degrees above normal at 33 degrees.
Central India Weather in central India will be quite similar to north India. Dry northwesterly winds from the north will reach up to central India making the days dry and warm. Barring isolated pockets of Vidharbha and Madhya Maharashtra, where light rain is a possibility, no rain is expected to occur in entire central India. Forecasts suggest, monsoons could withdraw from central India by the end of this week. Maximums will start to rise but nights will be extremely pleasant, with minimums between 19 to 21 degrees.
South India This week, light rain with moderate showers in isolated pockets is expected to continue at interior Karnataka, south Andhra Pradesh and Telangana. However, rain is expected to increase in Kerala and Tamil Nadu after three days. Skies will be partly cloudy to mostly cloudy and temperatures will settle around the normal average in most parts. Nights will be breezy and comfortable.
Photo by Manipalworldnews
By: Skymetweather.com
"I've had some good conversations early this morning. It is between Mitch and Harry. And I think people want to see that come to fruition," said Corker, a member of the Senate Banking Committee.
But, he added in a "Squawk Box" interview, "the wildcard is what happens if we do something here when it goes over the House."
It's widely acknowledged that agreements between Republicans and Democrats need to be reached on two fronts. They have to raise the nation's borrowing limit before the Thursday deadline set by the Treasury, and end the government shutdown now in its 14th day.
(Read more: New breed conservatives 'anti-democratic': Parsons)
Corker said both sides in the Senate are now in a place, grounded in reality. "Let's face it. Republicans have overreached on the health-care bill," he said of the strategy of linking a delay in funding for Obamacare to an agreement on the debt ceiling. He said Democrats had been trying to "actually bust or break the budget control act, which is also settled law."
But he stressed there's a "major expectations game to manage" in the House.
"We're not going to solve the biggest [debt] issues over the next three days," Corker said. "If we can do something for a period of time to get us to that place, maybe we finally do those things that we all know need to happen and have been working on for so long."
(Read more: Debt ceiling stock sell-off a buy: Strategists)
That point may come in mid-January. "We keep putting off these episodes. But on the other hand, the moment—the sort of 'twitching hour'—is when this next level of sequester kicks in on Jan. 15. That's a pressure point that Democrats don't want to see happen."
Corker concluded, "Maybe it's that point in time when we have the opportunity ... to substitute some longer-term mandatory spending reforms" in place of the across-the-board sequester spending cuts.
—By CNBC's Matthew J. Belvedere. Follow him on Twitter @Matt_SquawkCNBC.
Sources have confirmed that EOW is currently considering the invocation of the Maharashtra Protection of Interest of Depositors Act (MPID Act). MPID was enacted in 1999 with the aim of the tackling financial institutions that are believed to be acting in a calculated, pre-determined manner designed to hurt the interests of depositors or investors.
Upon invocation, this Act will allow the EOW to attach or seize properties and assets of not merely National Spot Exchange Limited (NSEL) but also those of promoter Jignesh Shah. Moreover, the EOW would also have the powers to the conduct auction and realise the money for satisfying payments defaulted upon by the establishment in question.
The act also provides for penal action against the promoters, management or employees, if found guilty of fraudulent default. And for a jail term of up to six years and a fine of up to rupees one lakh.
If invoked, the EOW would require the nod of only a designated MPID court, as against the magistrate court's approval, to proceed with seizures and auctions.
Importantly, such action being contemplated comes close on the heels of high profile arrests in the form of Amit Mukherjee, former VP of Business Development and Jai Bahukhandi, former VP of warehousing. The EOW is also investigating possible kickbacks to Anjani Sinha, the former MD. He had failed to turn up for questioning despite summons issued by EOW.
Sources had also confirmed that there is ample evidence of fudging of accounts.
EOW sources also questioned the role played by the Forward Markets Commission (FMC) expressing displeasure at, allegedly not receiving sufficient cooperation.
