CHOLAMANDALAM MAINTAINS 45% DIVIDEND DESPITE TOUGH YEAR

Article Abstract:

Despite a difficult year, Cholamandalam Investment & Finance Company Limited, a hire purchase and leasing form, has maintained its dividend at 45 percent for 1997-98. It raised Rs60 crore as loans from financial institutions and Rs30 crore through non- convertible debentures. Its standard assets were 97 percent of the total business. Its net worth was Rs145 crore. (ag) ------------------------------------------------------------ Financial results of Cholamandalam Investment & Finance Company Limited ------------------------------------------------------------ Particulars Year ended June 30 (Rs in crore) 1998 1997 ------------------------------------------------------------ Fund base 573.00 523.00 ------------------------------------------------------------ Net profit 19.80 22.10 ------------------------------------------------------------ Disbursements for vehicles 144.00 140.00 ------------------------------------------------------------ Total disbursements 89.00 112.00 ------------------------------------------------------------ Total deposits 256.00 - ------------------------------------------------------------ Net profit 19.80 22.10 ------------------------------------------------------------ Dividend (%) 45.00 45.00 ------------------------------------------------------------

Comment:

Maintaines dividend at 45% for 1997-98, despite difficult year

Sales, profits & dividends, Investment Companies, Open-End Investment Funds, Article, Cholamandalam Investment and Finance Company Ltd.

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ITC THREADNEEDLE MF TO LAUNCH M&A FUND

Article Abstract:

ITC Threadneedle Mutual Fund (ITC MF) is coming out with a Special Situations Equity Fund (SSEF), which will invest mainly in restructuring/mergers and acquisitions prospectives. ITC MF has a separate management section to identify restructuring stories. SSEF will only invest in companies which provide merger and acquisition opportunities and restructuring stories with a new management. (khr)

Comment:

ITC Threadneedle Mutual Fund (ITC MF) is coming out with a Special Situations Equity Fund (SSEF), which will invest mainly in restructuring/mergers and acquisitions prospectives.

Product introduction, Other Financial Vehicles, Mutual Fund Mgmt Companies, Portfolio Management, Mutual Funds (Closed End), Mutual funds, Closed end mutual funds, ITC Threadneedle Mutual Fund

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