Birla mutual fund, India's largest private sector mutual fund, has decided to treble its distribution network from 14 centres to 50 centres by the year end to provide increased customer service to its broadening investor base.

Birla Mutual Fund, at present, has at least one centre each in all the major states. Two to three new centres will be opened in each of the states where it already has a presence. The decision follows the increasing number of customers in cities where it does not not have a direct presence.

PNB to unveil gilts IPO

PNB Gilts Limited, a wholly-owned subsidiary of Punjab National Bank, has decided to launch an Initial Public Offering (IPO) shortly, even as poor market capitalisation fears has forced the bank to put its public issue plans on the backburner.

Asian markets remain cautious

Asian share markets ended mixed in cautious trading despite Wall Street's record close Monday, with all eyes on the US Federal OpenMarket Committee meeting later in the day. In Tokyo, shares fell 0.8 per cent following Friday's announcement of a huge bank merger.