GAIL India approves bonus share of 1:2

GAIL India approves bonus share of 1:2

In a bonanza to shareholders, GAIL India on Thursday approved a bonus share in the ratio of one additional share for two shares held.

The shares issued will be in the ratio of 1:2 and which will double the authorised share capital to Rs 2,000 crore, GAIL Chairman and Managing Director U D Choubey said.

He said the company proposes to raise Pata Petrochemicals' annual capacity to 500,000 tons in the next one year from the existing 400,000 tons.

It will further raise the annual capacity to 800,000 tons in future, Choubey said. "The increased production of polymers at Pata shall further add value," he told shareholders.

The company's share surged to Rs 416 in morning trade, up from yesterday's close of Rs 405.55.
Avdhoot Investment

IDFC MF launches IDFC Strategic Sector (50-50) Equity Fund

IDFC MF has launched of IDFC Strategic Sector (50-50) Equity Fund, an open ended equity fund that will invest up to 50 per cent of the assets in a chosen sector that is positioned for high returns while the balance amount may be invested in companies across market capitalisations and sectors.
The scheme opened on Thursday and will close on September 18. The investment objective of the scheme is to generate long term capital appreciation from a portfolio of predominantly equity and equity related instruments. The portfolio would acquire small and medium size companies with good long term potential.

This scheme may also invest in debt and money market instruments. This fund is benchmarked against the Nifty and will be managed by Kenneth Andrade, VP - Equities, IDFC MF.
The fund plans to invest 50 per cent of its AUM in sectors like auto, real estate, metals, energy, capital goods and telecom, while the balance will be invested in companies that attempt to give returns in line with the market.
Units of the scheme can be subscribed / redeemed at the applicable NAV, subject to applicable load, on all business days during the continuous offer.
Entry load will be charged as follows: amount to be invested being less than Rs. 5 crore -- 2.25 per cent, Rs. 5 crore or more – Nil.
Exit load will be nil in case of purchase of Rs. 5 crore or more. In case of purchase of less than Rs. 5 crore (if redeemed within 1 year) the entry load is 1.00 per cent.
Naval Bir Kumar, managing director, IDFC MF said, “to create wealth you need to identify growth sectors, invest early and have conviction to hold for the longer term and most importantly create the right structure for these investments to blossom. The launch of this fund underlines our commitment to this objective.Avdhoot Investment