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CHENNAI For BSE/NSE live quotes, scan the QR code or click the link BusinessLine 8 MARKET RADAR THURSDAY • DECEMBER 31 • 2020 https://bit.ly/2FpossK QUICKLY EID Parry prunes stake in SEBI’s new norms for mutual fund Coromandel Intl to pare debt Sells 58.5 lakh shares owned subsidiary, Parry Sugars Re­ sector to kick in from tomorrow finery India Pvt Ltd and for general at ₹803.19/share corporate purposes, it said. Introduction of ‘very high’ risk category, lotment of the scheme’s units to in­ During the September 2020 vestors and not thereafter. SEBI had OUR BUREAU quarter conference call, the com­ closing day NAV for purchase are key changes said inter scheme transfers involve Chennai, December 30 pany said it continued debt reduc­ shifting of debt papers from one MF Shares of Murugappa group com­ tion exercise and cut the debt further SURESH P IYENGAR of receipt of such application,” said scheme to another. pany EID Parry, engaged in sugar and by ₹104 crore by repaying some of Mumbai, December 30 the SEBI circular. Under existing rules, SEBI only re­ nutraceuticals manufacturing, rose the long­term loans. Its long­term Starting this New Year mutual fund Under current rules, the NAV of quires that such inter scheme trans­ 6per cent to ₹352 on the BSE on Wed­ loan stood at ₹263 crore as of investors will get to purchase NAV the same day is considered for pur­ fers are done at market prices and nesday after sale of a small portion of September 2020 quarter when com­ (net asset value) of the day when chases of less than ₹2 lakh, even if that the transfer should be in con­ its stake in group company Coro­ pared with ₹367 crore in the June their money reaches the asset man­ the money does not reach the asset formity with the investment object­ mandel International Ltd. 2020 quarter. Its short loans were Kalpataru up 3% on ₹900­cr order agement company, irrespective of management firm but the order is ive of the recipient scheme. The company sold 58.50 lakh about ₹101 crore as of September New Delhi, December 30 the amount invested. placed within the cut­off time. disclose the risk­o­meter along with Inter scheme transfer in open shares of Coromandel International 2020 quarter, down from ₹342 crore Shares of Kalpataru Power Transmission Ltd on However, this rule will not be ap­ portfolio disclosure for all their ended schemes are allowed for in the open market at an average in the previous quarter. Overall, its Wednesday gained over 3 per cent after the plicable to liquid and overnight Risk-o-meter schemes on their website and on meeting redemption­led liquidity price of ₹803.1894 a share, EID Parry loan reduced from ₹720 crore in Q1 company secured new orders worth ₹900 scheme. Securities and Exchange SEBI has also introduced a fresh cat­ AMFI website within 10 days from requirement after trying out all informed the stock exchanges. Post to ₹364 crore at the end of Q2. crore in the domestic and overseas markets. Board of India had announced this egory of ‘very high’ risk on its risk­o­ the close of each month, SEBI had other options to raise funds. the deal, EID Parry holds 16.54 crore A recent Crisil Rating report said The stock jumped 3.36 per cent to close at new rule in September. meter tool for investors to make bet­ said. SEBI has also laid down that no shares, representing 56.42 per cent EID Parry’s arm Parry Sugars Refinery ₹318.30 on the BSE. During the day, it gained “It has been decided that in re­ ter decisions with regard to high MFs should also publish a history inter scheme transfer is allowed if of the paid­up capital of Coroman­ India Pvt Ltd carried an estimated 4.61 per cent to ₹322.15. On the NSE, it went up spect of purchase of units of mutual risk mutual funds. It replaces the old of risk­o­meter changes every year. there are any negative market news del. As of this September quarter, EID debt of ₹1,187 crore (long term debt by 3.25 per cent to close at ₹318. KPTL said it fund schemes (except liquid and model based simply on a scheme’s or rumours about a security in the Parry held 58.42 per cent in Coro­ of ₹200 crore and short­term debt of has won orders in the transmission and overnight schemes), closing NAV of category without adequately con­ Inter-scheme transfer mainstream media or an alert is mandel. about ₹987 crore) as on March 31, distribution business from overseas market. It the day shall be applicable on which sidering its actual portfolio. Inter­scheme transfer in close­ generated about a security by the The proceeds of the sale will be 2020. On Wednesday, shares of Coro­ has also bagged engineering, procurement and the funds are available for utilisa­ Risk­o­meter shall be evaluated ended funds can only be done fund’s internal risk assessment in used to bring down the debt of the mandel International dropped six construction orders for pipeline laying and tion irrespective of the size and time on a monthly basis and AMCs shall within three business days of the al­ the previous four months. company including its wholly­ per cent to ₹802 on the BSE. associated works in India. PTI RITES to pay ₹5 a share as interim New Delhi, December 30 Promoters have not pledged The Board of Directors of RITES Ltd an Bull run continues for Sensex, infrastructure consultancy and engineering company, at its meeting held today declared any shares, says Vedanta Ltd an interim dividend of ₹5 per share on the face Nifty; UltraTech shares jump 4% value of ₹10 each. The dividend amounts to PRESS TRUST OF INDIA have been filed. However, “there is ₹120.15 crore (at the rate of 50 per cent of New Delhi, December 30 no pledge created on any shares PRESS TRUST OF INDIA sity. Britain has authorised use of a paid­up capital), informed a release. The Vedanta Ltd’s promoters cannot of Vedanta Ltd held by the pro­ Mumbai, December 30 second Covid­19 vaccine, becom­ record date for the payment of the dividend is sell or create any security on moters,” it added. Benchmark indices Sensex and ing the first country to green light January 11, 2021. Standalone revenue of the shares they hold in the group as The funds raised from Citicorp Nifty raced to fresh record highs an easy­to­handle shot that its de­ company for the first half of FY2021 has been part of the terms attached to the “will be used to fund the tender on Wednesday as gains in finan­ velopers hope will become the ₹488 crore and profit after tax has been ₹131 recent $1.4 billion fund raising – offer for any and all of Vedanta Re­ cials, auto and IT shares helped “vaccine for the world”. crore, added the release. OUR BUREAU conditions which technically fall sources Limited''s (VRL) outstand­ markets extend their winning run within the definition of ‘ncum­ ing $900 million 8.25 per cent for the sixth straight session. JMC Projects shines brance’ but no pledge on shares bonds due 2021,” the company After a volatile session, the 30­ Shares of engineering firm JMC NCC: Preferential issue to promoters has been created, the company had said in a stock exchange filing share BSE Sensex closed up by Projects on Wednesday gained Hyderabad, December 30 said on Wednesday. panies of Vedanta to create any se­ on Tuesday. 133.14 points or 0.28 per cent at a re­ Bank, Reliance Industries and nearly 4 per cent after the com­ The board of directors of NCC Ltd has approved Vedanta had on Tuesday in­ curity, or to sell, lease, transfer or The remaining proceeds of the cord high of 47,746.22. The baro­ Asian Paints also finished in the pany said it has bagged orders issue of 1.80 crore fully convertible warrants on formed stock exchanges about its otherwise dispose of any of their $1 billion fund raise shall be used meter scaled its all­time intra­day green. worth ₹698 crore in the domestic preferential basis, to the promoters/promoter promoters raising $1 billion debt shares in Vedanta Limited held by to service the debt of promoter high of 47,807.85. The broad­based market. The stock jumped 3.76 per group of the company. The Hyderabad­based by issuing equivalent notes to them and / or to be acquired by group firms, “VRL, Twinstart or NSE Nifty rose by 49.35 points or Profit booking cent to close at ₹68.95 on the BSE. construction major in a regulatory filing has said Citicorp International Ltd and an­ them,” the company said in a Welter and/or for acquisition of 0.35 per cent to finish at its lifetime After opening strong, the stock in­ The company’s CEO and Deputy the price at which the warrants will be issued other USD 400 million in notes to statement on Wednesday. equity shares of Indian subsidi­ high of 13,981.95. It touched all­ dices gave up gains due to profit Managing Director S K Tripathi shall be determined in accordance with an entity under Oaktree Capital ary/(ies) of VRL by Twinstar/Welter time peak of 13,997 in intra­day booking by investors. However, said: "Our order inflows for the provisions of chapter V of Securities and Group.

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