ICICI Prudential Equity Income Fund will open for subscription on November 18 and close on December 2, the private sector MF house said in a statement today.
The fund will use in-house "price to book" model to maintain the unhedged equity allocation of 20-40 per cent of the net assets with no market cap/style bias, it said.
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Future Retail Q2 standalone net loss at Rs 8.04 cr * Future Retail today reported lessening of its standalone net loss at Rs 8.04 crore for the second quarter ended September 30, 2014, against a standalone net loss of Rs 9.86 crore in the corresponding period in the previous fiscal.
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The company said its total expenses stood at Rs 2,408.8 crore as compared to Rs 353.42 crore in the year-ago quarter.
Shares of Future Retail closed at Rs 105.45 per scrip, up 1.25 per cent from the previous close on BSE.
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Tata Hitachi's hydraulic excavator launched * Tata Hitachi's Global Initiative, ZAXIS 220 LC - GI Series Hydraulic Excavator was launched today with promise to give a new dimension to construction sector by providing more efficient equipment.
Rolled out of Tata Hitachi's plant at Kharagpur in West Bengal, the ZAXIS 220 LC will cater to Indian and global construction equipment markets through exports, he said.
The Company offers a full range of constructive solutions which include Hydraulic Excavators, Backhoe Loaders, Wheel Loaders, Soil Compactors, Motor Graders, Transit Mixers and Dumpers, Sinha said.