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Rupee opens stronger at 44.25/30 per USD

Mumbai, Mar 9 (UNI) The Rupee today opened firmer at 44.25/30 per US Dollar from its previous close of 44.50/52 as firmer Asian stock indices led to belief that global equity markets are coming back to normal.

However, the dollar's rally versus the yen and marginally weaker local stock indices kept the rupee's gains on hold. It is expected to trade between 44.20/30 by end of the trading session, market analyst predicted.

UNI

OptiMix launches equity fund

Kolkata, Mar 9(UNI) OptiMix, part of the ING Group, today announced the launch of OptiMix Multi Manager Equity Fund offering long term capital appreciation through investment in equity and equity-related securities. Speaking on the occasion, OptiMix CIO Mugunthan Siva said the scheme, based on 'Manage the manager' concept, was first of its kind in the country. The company would manage the fund on the basis of mandate based advice received from a panel of third party investment advisors, he said. The.....

Introduction of VAT enhances revenue generation

Kolkata, Mar 9 (UNI) The gradual introduction of Value Added Tax (VAT) regime at the state-level has enhanced the consolidated revenue generation programme of the Union government to a great extent. This view was unanimously expressed here today by a panel of financial experts and revenue consultants at a national-level seminar, organised by the Confederation of Indian Industry(CII) Eastern Regional Council. Intiating a debate on the usefulnerss of VAT in place of the previous Central Sales Tax(CST) regime, National Institute of.....

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New Delhi, Mar 9 (UNI) Mahindra&Mahindra Ltd today announced that it has signed a deal to acquire 43.3 per cent stake in Punjab Tractors Ltd from Actis Group and Burman family at a price of Rs 360 per share. The company beat Ashok Leyland and Tafe, even as Tata Motors with Fiat-CNH, Sonalika Group, Escorts, Italy's Sam Duetz-Fahr opted out. Punjab Tractors Ltd, in operation since 1974, is a significant player in the tractor industry. Its 'Swaraj' brand of tractors and.....
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