Bizbits

Tata MFMUMBAI: Equity schemes from Tata Mutual Fund have outperformed the benchmark indices Sensex and Natex as on June 30, having increa...

Tata MF

MUMBAI: Equity schemes from Tata Mutual Fund have outperformed the benchmark indices Sensex and Natex as on June 30, having increased investments in the auto sector and diversified engineering, cement and steel sector. TMF8217;s schemes Tata Equity Growth Fund, Tata Young Citizen8217;s Fund, Tata Tax Saving Fund, Tata Core Sector Equity Fund and the Tata Twin Option Fund equity option have grown in asset value by 34 per cent, 37 per cent, 80 per cent, 41.8 per cent and 44 per cent as against an increase of 27.4 per cent and 25 per cent in the Sensex and Natex, respectively.

Exide net rises

CALCUTTA: The net profit of Exide industries has risen to 19 per cent to Rs 6.5 crore in the first quarter of 1999-2000, compared with Rs 5.44 cr in the previous corresponding period. Its sales have risen to Rs 194.97 crore against Rs 165.75 crore.

Albright amp; Wilson

MUMBAI: Albright amp; Wilson Chemicals, manufacturers of industrial phosphates and surfactants, registered a 10.27 per cent fallin net profit to Rs 6.32 crore for the year ended March 31, 1999, against Rs 7.04 in the previous year. Sales for the year rose to Rs 107.83 crore from Rs 102.51 crore.

New AAAI chief

MUMBAI: Arun Nanda, chairman and managing director of Rediffusion-DYamp;R, has been elected unopposed as the President of Advertising Agencies Association of India AAAI for the year 1999-2000. Ramesh Narayan of Canco Advertising has been selected as the vice-president of the association.

RBI advise

MUMBAI: THe RBI has advised banks and members of the public to continue to accept notes of Rs 500, following reports that these notes were not being readily accepted for fear of their being forged. The central bank assured the public that these notes continue to be legal tender. In a statement here today, RBI said the fear of forgery was largely reported in currency notes in the denomination of Rs 500 in the old series.

Satyam Infoway

MUMBAI: Satyam Infoway is learnt to have filed its ADR offerdocument with the Securities and Exchange Commission of the US, according to market sources. The Satyam counter hit the upper end of the circuit on the NSE at Rs 1,365 while it closed at Rs 1,379 on the BSE.