Kotak Mahindra Asset Management Company on Friday announced the launch of K Gilt Serial Plan that eliminates both credit and price risk associated with a mutual fund thereby giving it flavour of an assured return scheme. With the introduction of a series of plans with consecutive maturities under its government securities fund, K-Gilt, the fund has effectively nullified price risk for an investor who stays with the fund till maturity.

Complaints against Padmini polymers

Padmini Polymers Ltd topped in the list of top 20 companies against large number of complaints were pending on the Bombay Stock Exchange (BSE) during the month ended August 31. There were 38 complaints received against Padmini Polymers Ltd followed by Gujarat Fun N Water Park (32), Vatsa Corporation Ltd (26), Pentafour Products Ltd (20) and Jindal Vijaynagar Steel Ltd (20).

Skindia GDR index down 2.32%

The Skindia GDR index representing GDRs of 19 actively traded companiesdeclined sharply by 2.32 per cent to 869.73 points on September 16 from the previous close of 890.40 points. The Skindia GDR index P/E ratio dropped 2.60 per cent to 29.89 per cent.

Clarification

With reference to the report titled `Hotel Leela to float Rs 37 crore rights issue', the company has clarified that the issue price and size are Rs 25 per share and Rs 73.64 crore and not Rs 15 and Rs 37 crore as reported. The company has stated that it would be issuing 2.45 crore shares to existing shareholders on a rights basis and 49.09 lakh shares to the warrant holders. Post-rights the equity of the company will be Rs 62.18 crore. It has also stated that the total number of rooms is 254 in Bangalore, 91 in Udaipur and 120 for the new hotel in Mumbai. The company has denied that it has plans to set up a hotel in Kerala. It plan to concentrate on completing the current projects and consolidating its properties.