Bizbits

Kotak Mahindra MF8217;s K30 NAV rises

MUMBAI: The net asset value NAV of K30 scheme of Kotak Mahindra Mutual Fund, published for the first time, has reported a 17.53 per cent increase to Rs 11.75 on its face value of Rs 10. The initial public offer of the scheme closed December 21. During the same period BSE Sensex moved up by 11.97 percent and CNX Nifty moved up by 12.86 per cent. K30 is agrowth scheme that invest entirely in equity and equity related instruments.

Havell8217;s signs JV with Dorman Smith

MUMBAI: The Rs 200 crore Havell8217;s group, engaged in the manufacture of a range of electrical products has signed a joint venture JV MOU with Dorman Smith of UK for one of its group companies, namely ECS Ltd. The JV signed on Friday envisages 50:50 equity participation by both the partners and will results in investment of Rs 20 crore going into ECS to upgrade/introduce new technologies/ and install new machinery which can handle higher volumes. Dorman Smith is the largest switch board manufacture in UK and is recognized as one of the leading companies in electrical switchgear products in the world markets.