MF industry assets hit record high

NEW DELHI: Assets of the mutual fund industry have touched an all time high of Rs 7.62 lakh crore, while country's largest fund house Reliance MF witnessed a decline of over Rs 1,400 crore in its average assets under management (AUM) at the end of October. The industry’s average AUM grew by Rs 19,391 crore, or 2.61 per cent, in October which analysts believe was mainly on the back of increased inflows in fixed income plans.

Sebi to take up SME listing standards

NEW DELHI: The Securities and Exchange Board of India is convening a meeting on November 9 to consider relaxing listing standards for small and medium enterprises. “Based on feedback from market participants we are considering relaxation of certain standards,” Sebi wholetime member M S Sahoo said at an Assocham conference.

Kingfisher to lay off nearly 100 pilots

MUMBAI: Vijay Mallya-led Kingfisher Airlines is understood to have put close to 100 pilots, mostly trainees, on the chopping block on grounds of huge losses and capacity reduction. These pilots have completed their probation and all endorsements, but the company has decided not to renew their service contracts in view of the huge losses and capacity reduction, sources said.

SKNL profit rises 18.1 pc in Q2

MUMBAI: S Kumars Nationwide Ltd (SKNL) has posted an 18.1 per cent rise in net profit (before minority interest) at Rs 69.2 crore in the second quarter ended September 2009 from Rs 58.6 crore in the same period of the last year. Sales shot up by 69.7 per cent to Rs 951.4 crore from Rs 560.5 crore in the previous quarter.

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