Sundarampact with BNP

Sundaram Asset Management Company Ltd and BNP Paribas Asset Management (BNP PAM) of France have entered into a 50:50 joint venture for the mutual fund business in India. BNP PAM has acquired a 49.9 per cent stake in Sundaram Asset Management and the latter will have a 50.1 per cent stake in the joint venture Sundaram BNP Paribas Mutual, which will invest part of the money raised abroad by BNP PAM through the BRIC (Brazil, Russia, India and China) and Parvest India Funds.

Uco Bank

Uco Bank has revised the rates of interest on domestic term deposits for periods ranging from 15 days to five years and above. The rates for 15-29 days has been revised to 4.5 per cent from 4.25 per cent, from one year to less than two years and from two years to less than three years to 7 per cent from 6.75 per cent, for three years to less than five years to 7.25 per cent from 7 per cent.

Triveni Engg

Triveni Engineering & Industries raised Rs 240 crore by public issue of equities during 2005-06 and utilised Rs 227.56 crore towards the objects for which the amount was raised. The balance of Rs 12.44 crore as on June 30, 2006, is invested temporarily to reduce the working capital over-draft.

Jai Balaji

Jai Balaji Sponge?s net profit was Rs 27.12 crore in 2005-06, against Rs 8.64 crore in the previous fiscal. Net sales was Rs 432.71 crore compared with Rs 275.02 crore in the previous year.

Godrej launch

Godrej & Boyce has launched the Force 4 range of washing machines in Calcutta. The products are available in fully automatic GDF1204 with a 5.5-kg capacity at Rs 11,400. The semi-automatic GDS665 is available for Rs 7,990.

Allcargo

Allcargo Global Logistics has declared a final dividend of 15 per cent, or Rs 1.50 on enhanced capital of 20,255,845 equity shares. In March, the company declared and paid an interim dividend of 4 per cent on 18,176,845 equities.

Blaupunkt

Blaupunkt has launched Maui MP36 car radio. The radio offers connections for preamps, subwoofers and external audio sources. The product is available for Rs 8,950.

Tech rank

Tech Mahindra has been ranked third in Worldwide BSS SI (business support system and systems integrator) in the latest Garner report.

UTI scheme

UTI Mutual Fund has clarified that it had requested Sebi to keep the offer documents of UTI-SsgA-Global Titan Index Fund and UTI-SsgA-Global Navigator Fund in abeyance to enable it to modify the investment universe of the schemes. It has also clarified that the clearance of any proposal from UTI MF had not been delayed by Sebi.