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Corporate Briefs

UTI Mutual dividend

UTI Mutual Fund has has declared the weekly dividend @ 2 0.095 per cent (Rs 0.0095 per unit on a face value of Rs 10) under its money market fund, resulting in tax-free annualised return of 5.06 per cent to the investors and 5.71 per cent annualised outflow for the scheme. The investors existing in the books on the close of business of June 14, 2003, and have opted for the income option are eligible for the dividend. The record date for the scheme is on June 14, 2003.

KSB Tracon

KSB Tracon has entered the multi-level marketing industry. The company has tied up with ICICI Lombard to give out one lakh accident insurance to its associates.

Power station

Bengal power minister Mrinal Banerjee has recently inaugurated the Uluberia 132 KV sub-station constructed with the financial assistance of Japan Bank of International Co-operation.

Peerless office

The Peerless city branch-1 has been relocated from 154, Lenin Sarani, Calcutta 13 to 1, chowringhee Square, Calcutta 69

Chemithon

Chemithon Engineers, a joint venture with Chemithon Enterprises Inc, USA, has successfully commissioned Bengalís first Ammonia flue gas conditioning system at unit no 2 of the Kolaghat Thermal Power Station under the West Bengal Power Development Corporation.

BPL launch

BPL Telecom has recently lauched its new range of notebook PCs based on Intelís Centrino mobile technology in Calcutta.

Tata Chem

Tata Chemicals has availed of a $ 20-million external commercial borrowing (ECB) for three years. The ECB was availed of at an interest rate of 100 basis points above the London Inter Bank Offer Rate. The total cost of the borrowing, after hedging the principal, is expected to be between 3.25-3.50 per cent per year.


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