Kotak Mutual Fund today announced the launch of Kotak Balanced Advantage Fund, an open-ended asset allocation fund with an objective to generate capital appreciation from a dynamically balanced portfolio of equity and equity related securities, debt, and money market securities.

It will follow a multi-cap approach for equity allocation, dynamic bond approach for debt allocation. The new fund offer (NFO) opens on July 13 and closes on July 27. The scheme will re-open for continuous sale and repurchase from August 10.

"The equity market is expected to remain range bound in near term due to high oil prices and rupee depreciation.However fundamentals, like corporate earnings, remain positive," Kotak Mutual Fund chief investment officer (equity) Harsha Upadhyaya told reporters here.

*********** Shakun Polymers to invest Rs 68 cr to expand capacity *

Vadodara-headquartered Shakun Polymers a player in the field of compounding for the wire and cable market today said it is investing Rs 68 crore towards capital expenditure to expand its capacity from 12,000 tonnes per annum (tpa) to 27,000 tpa.

It has two manufacturing facilities at Halol district in Gujarat and one at Daman. The compounds manufactured by Shakun are used for insulation and sheathing of wire and cables for various applications such as: power cables, building wires, telecommunication and fibre optic cables, instrumentation cables and photovoltaic cables.

The company said it has received Sebi nod for its proposed initial public offer (IPO). The public offer comprises of fresh issue of equity shares aggregating up to Rs 75 crore and an offer for sale of up to 18 lakh equity shares by selling shareholders. The company hopes to hit the capital market in Q2 FY19.

*********** HMSI launches new edition of entry level bike CD 100 Dream DX *

Honda Motorcycle & Scooter India today announced the launch a new edition of its entry level bike CD 110 Dream DX with price starting at Rs 48,641 (ex-showroom, Delhi).

The latest edition of the CD 110 Dream DX comes with added features such new attractive gold graphics and chrome muffler protector, a release said.

"The iconic CD brand has been winning the trust of millions of customers globally since 1966. Taking forward its legacy, 2018 CD 110 Dream DX offers the same level of trust and reliability. We are confident that the new edition too will garner good response from our customers especially when there are sentiments in rural demand," said Yadvinder Singh Guleria, senior vice president sales and marketing, Honda Motorcycle and Scooter India." ************ Mahindra MF names V Balasubramaniam as chief equity strategist *

Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL) announced appointment of V Balasubramaniam as chief equity strategist.

Bala has spent over 28 years investing in the Indian securities markets and was, until recently, the chief investment officer at the IDBI Mutual Fund.

Mahindra Mutual Fund also appointed Srinivasan Ramamurthy as equity fund manager. Srini joins the company from the IDBI Group as well, where he was managing equity and hybrid strategies for over 6 years.

First Published:Jul 11, 2018 5:31 AM IST