UTI-MNC Fund, an open-ended equity scheme, has declared tax-free dividend of 25% (Rs 2.50 per unit on face value of Rs10/-).

Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any. The record date for the dividend is July 28, 2008.

UTI-MNC Fund was launched in April 1998. The objective of the scheme is to predominantly invest in equities and equity related instruments of Multinational Corporations and other liquid stocks.

Gurgaon-based, Nutek India Limited is entering the capital market on July 29, with an initial public offering (IPO) of 4,500,000 shares of Rs10 each for cash at a price to be determined through a 100% book building process.

The price band has been fixed at Rs170 and Rs192 per share. The issue comprises a fresh issue of 3,500,000 shares and an offer for sale of 1,000,000 shares by a strategic investor.

The Issue has been assigned an IPO grade of 3 out of 5 by rating agency, CRISIL Limited. The issue will close on August 1.

Within the next two years, the spot exchanges of National Commodity & Derivatives Exchange (NCDEX) may be rolled under its subsidiary, NCDEX Spot Exchange, in all the major states in the country.

The spot exchanges aim to focus at spot trading in agricultural commodities, other than giving priority to agro-marketing. R Ramaseshan, NCDEX MD and CEO, said in Chennai that the company’s focus on agricultural commodities would be just like the parent company’s futures exchange which has 800 trading centres across the country.

A new direction was given to the war between ESPN and DTH operators over the pricing of sports channel on Tuesday when sector regulator Telecom Regulatory Authority of India (TRAI) issued a show-ca

Farmers would now be able to have better agricultural growth with the support of National Bank for Agriculture and Rural Development ( Nabard).  The bank is aiming at facilitating agricultural lending among small and marginal farmers. Nabard would be helping the needy farmers by setting up directly self-help groups (SHGs), which would be directly credit-linked with banks.

Mumbai-based Aries Agro Ltd, a manufacturer of plant nutritional products, has signed a memorandum of understanding (MoU) with Yara Asia for the exclusive marketing of an entire range of specialty plant nutrients in India.

The latest agreement between the world`s largest soluble fertilizer company and Aries Agro, would marks the beginning of a relationship, which would involve bringing to India several unique premium plant nutrition solutions, starting with three products during the current financial year.

The first product in this category called `Teprosyn` a fortified seed treatment fertilizer containing zinc and phosphorus, was launched today, which will be available across the Aries distribution network.