UTI MAINTAINS US-64 PRICE
Article Abstract:
Unit Trust of India (UTI) has announced an offer price of US 64 units at Rs14 per unit for the special offer scheduled to open on July 1998. UTI has maintained the special offer price inspite of the erosion in the scheme's equity investment portfolio in 1997- 98. Unit Trust has also announced a dividend of 20 percent for 1997-98. In the same year, UTI had mobilisd a total of Rs13,700 crore through its schemes. UTI has plans for a range of new schemes to achieve the mobilisation target of Rs17,000 crore in 1998-99. (uh) ------------------------------------------------------------ US-64 Turnaround (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Profit On Invest 2,000 1,660 ------------------------------------------------------------ Interest Income 885 705 ------------------------------------------------------------ Dividend Income 220 200 ------------------------------------------------------------ Total Income 3,170 2,600 ------------------------------------------------------------ Dividend Outgo 3,100 2,850 ------------------------------------------------------------ Sales 4,600 1,800 ------------------------------------------------------------ Repurchases 2,300 2,300 ------------------------------------------------------------
Comment:
Announces an offer price of US 64 units at Rs14 per unit for the special offer scheduled to open on 7/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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UTI TO REPEAT SPECIAL PRICE FOR US-64, OFFER 20% DIVIDEND
Article Abstract:
Unit Trust of India (UTI) proposes to offer a special offer price of Rs14 per unit for all its US-64 units during July 1998. UTI had offered the same price in July 1997. UTI's move has caused surprise in the market as the net asset value of US-64 units has been affected by a fall in share prices. UTI proposes to retain the dividend on the US-64 units at 20 percent for 1997-98. US-64 scheme recorded a rise in its earnings following a 50 percent growth in profits. During 1996-97, the scheme registered a profit of Rs1,640 crore through the sale of investments. (ag)
Comment:
Proposes to offer special offer price of Rs14 per unit for all its US-64 units during 7/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GOVT REFUSES FOREX COVER FOR UTI's IMS FUNDS
Article Abstract:
A proposal by the Unit Trust of India requesting a foreign exchange guarantee for investments mobilised through the India Millennium Scheme (IMS) has been rejected by the Union government. The dollar-denominated scheme will probably be close- ended with debt and equity options. It will be open for subscription in dollars only by non-resident Indians. The money mobilised under the scheme would be invested in the shares of Indian companies and in high quality Indian debt. (khr)
Comment:
Union govt rejects request of this co for foreign exchange guarantee for investments mobilised through India Millennium Scheme
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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