Thursday, November 26, 1998
Sun F&C may consolidate presence in India
Foreign & Colonial (F&C), the Europe-based asset management group, is keen on further consolidating its presence in India, which it views as a promising country among the emerging markets. The F&C emerging markets portfolio has given a marginally higher weightage to India which might lead to higher yearly asset allocation for India.
20-year tap stock mops up Rs 1,131 crore
The 20-year on-tap stock, offering a coupon of 12.60%, which closed on Wednesday, successfully managed to mop up Rs 1,131.88 crore. The longest-tenor stock in this fiscal was put on the sale window on Monday.
Bank of Baroda hikes three-year FCNR(B) deposits rate to 4.75%
In a departure from the declining interest-rate trend for foreign currency non-resident (FCNR-B) deposits, Bank of Baroda has hiked the interest rate on its three-year FCNR-B deposits. These deposits will carry 4.75% interest with effect from November 30, compared with the current rate of 4.50%.
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