Smart Money: L&T Mid Cap MF declares dividend

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SummaryL&T Mutual Fund has declared a dividend of R1 per unit in L&T Midcap Fund Dividend Option.

L&T Mutual Fund has declared a dividend of R1 per unit in L&T Midcap Fund — Dividend Option. The record date for the dividend is August 8, 2012. The objective of the open-ended equity scheme is to generate capital appreciation by investing in midcap stocks whose market cap falls between the highest and the lowest constituent of the CNX Midcap Index.

Jet, HDFC co-brand credit cards

Jet Airways’ JetPrivilege has partnered with HDFC Bank, to launch JetPrivilege–HDFC Bank Credit Card, an exclusive range of credit cards offering unique benefits and rewards in the form of JPMiles. The co-branded cards will offer enhanced mileage earning opportunities to customers across cities in India. The co-branded credit cards will promote increase in card usage, make air travel more affordable and reward for cardholders.

HDFC ERGO motor insurance add-ons

HDFC ERGO general insurance has incorporated add-ons in its motor insurance scheme. Customers can now claim expenses incurred towards repair or replacement of internal parts of gear box and labour cost to overhaul the damaged engine and gear box. Other add-ons offered by the firm are zero depreciation cover, which pays for the depreciation for partial loss claims at the time of accident. It will also offer to pay a daily benefit for each day that the vehicle is in a garage following an accident, claim being admissible under the own damage part of the policy.

Kotak Mutual Fund declares dividend

Kotak Mutual Fund has declared a dividend on the face value of R10 per unit under the dividend option of Kotak Quarterly Interval Plan Series 6. The objective of the scheme is to generate returns through investments in debt and money market instruments to reduce the interest rate risk. The record date for dividend is August 7 and the quantum of dividend will be the entire appreciation in net asset value of the dividend option until Aug 7.

SBI debt fund declares dividend

SBI Mutual Fund has declared a dividend on the face value of R10 per unit under the dividend option of Sbi Debt Fund Series—367 Days 5. The record date for the dividend is August 9 and the

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