Magnum IT Fund
MUMBAI: SBI Mutual Fund’s top performing sector fund, the Magnum IT Fund, which is part of the Magnum Sector Funds Umbrella, has declared a liberal dividend of 40% and a bonus of 1:2. The record date for this dividend payout is March 10, 2000. There will be a short term exit-cum-switchover load of 2.5% on investors exiting or switching over their investment in the scheme before June 10, 2000. This fund has been performing extremely well since launch with returns of 340% within 8 months. The IT Fund has vastly outperformed the Sensex by 307% since its launch. It has even outperformed the S&P CNX Sectoral index by 71% as on February 4, 2000.
Zicom Elec
MUMBAI: Zicom Electronic Security Systems Ltd is spinning off its software subsidiary – e-SmartNET – to provide application solutions and related software for smart cards. The company has recently launched its smart cards in association with Motorola. The expansion and diversification plans of the company will cost a total of Rs 39.25 crore. While the expansion of central monitoring stations (CMS) would amount to Rs 21.25 crore, the diversification into software and related services and smart cards would amount to Rs 18 crore.
Zicom proposes to fund the projects by issuing additional 50 lakh equity shares of Rs 10 each to FIIs, NRIs, corporate bodies, venture funds, mutual funds, promoters and employees (under the ESOP scheme) as investors. The company is very optimistic on its performance and for the current year, they plan to clock a turnover of Rs 10 crore.
Corporate meet
MUMBAI: Shiv Khera, internationally renowned educator and motivator who won international acclaim for his motivational workshops (named `Blueprint for Success’) has organised a three-day seminar and workshop concentrating on critical areas like attitude, ambition, action, motivation, leadership and teamwork, which are essential for individual and organisational success. It is a human relations programme for corporates constituting a wealth of time-tested ideas and aim at arming the participants with the right skills, qualities and attitude for success and excellence in all walks of life.
WS Finance
MUMBAI: Wall Street Finance Ltd (WSFL) is expanding its operations. The total foreign exchange business has gone up to Rs 732 crore in 1998-99. WSFL is gearing up as a merchant banker, to play big role in the business of mergers, acquisitions and takeovers, corporate loan, syndication with banks and financial institution is another focus area. An international tie-up with reputed finance organisations is on the anvil and with the economy opening up in India, the company looks ahead to new and innovative activity in financial services.
Technology park
MUMBAI: The Shankaracharya of Kanchi, Shri Jayendra Saraswati Swamigal, has announced his plan to form a high-tech city in Kanchipuram. The plan is to create a state-of-the-art technology park, which will benefit the masses in the form of excellent job opportunities, product development of international class and most importantly rapid growth and development of India. It also provides professionals who are abroad for better earnings but in the process, themselves or their siblings tend to forget their roots and the rich culture and tradition of India, an excellent opportunity to return to India.