Baroda BNP Paribas MF starts dividend yield fund for steady returns

Baroda BNP Paribas MF starts dividend yield fund

Baroda BNP Paribas Mutual Fund on Wedn­esday announced the launch of its dividend yield fund, which will predominantly invest in dividend yielding stocks. “The fund aims to invest in companies with predictable and stable cash flows, led by managements that prioritise rewarding shareholders with regular dividends. The investment approach is to invest in growth companies that are also rew­arding investors through regular dividends and buyback,” the fund house said.

 

General Atlantic exits PNB Housing Finance

Private equity firm General Atlantic has exited PNB Housing Finance, selling its entire 5.13 per cent stake in the company on Wednesday. The sale of 13.3 million shares at Rs 802.5 apiece generated Rs 1,069 crore. The buyers included prominent investors such as the Government of Singapore, Aditya Birla Sun Life Mutual Fund, HSBC Mutual Fund, and the Monetary Authority of Singapore. Shares of PNB Housing rose 10.23 per cent to end at ₹893.5 in secondary market trading. 

 

Cyient divests 14.5% stake in subsidiary firm 

IT firm Cyient on Wednesday divested 14.5 per cent stake in subsidiary Cyient DLM to mobilise Rs 880 crore. It sold 11.5 million shares at Rs 764.4 apiece. Shares of Cyient DLM closed at Rs 776, down 1.6 per cent. Among the buyers were Aditya Birla Sun Life MF, Nippon India MF, and HDFC MF. Following the stake sale, Cyient’s stake has reduced to 52.16 per cent.  

 

HZL dividend sweetens deal for OFS investors

Hindustan Zinc Ltd (HZL) has sweete­ned its offer for sale (OFS) to investors by declaring an int­erim dividend of Rs 19 per share. The dividend — am­ounting to a yield almost 4 per cent over the OFS price — was announced on Tue­sday, a day after the OFS inc­luded. The integrated zinc and silver manufacturer has set the ex-date of August 28 for dividend payout. This is HZL’s second interim dividend and the first payout of Rs 10 in May.