Unlock Steady Returns: Baroda BNP Paribas MF Launches High-Yield Dividend Fund – Exciting News for Investors

Baroda BNP Paribas MF Launches Dividend Yield Fund

Baroda BNP Paribas Mutual Fund announced the launch of its new Dividend Yield Fund on Wednesday. This fund will primarily invest in dividend-yielding stocks, focusing on companies with predictable and stable cash flows. The strategy aims to invest in growth companies that regularly reward their investors through dividends and buybacks.

General Atlantic Exits PNB Housing Finance

Private equity firm General Atlantic has sold its entire 5.13% stake in PNB Housing Finance, amounting to 13.3 million shares at Rs 802.5 each. The sale generated Rs 1,069 crore and attracted buyers 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 Finance surged by 10.23%, closing at Rs 893.5.

Cyient Sells 14.5% Stake in Subsidiary

IT company Cyient has divested a 14.5% stake in its subsidiary, Cyient DLM, raising Rs 880 crore. The transaction involved the sale of 11.5 million shares at Rs 764.4 each. Post-sale, Cyient’s stake in the subsidiary stands at 52.16%. Major buyers included Aditya Birla Sun Life MF, Nippon India MF, and HDFC MF. Shares of Cyient DLM closed at Rs 776, down 1.6%.

Hindustan Zinc Ltd Sweetens Offer for Sale

Hindustan Zinc Ltd (HZL) has declared an interim dividend of Rs 19 per share to make its offer for sale (OFS) more attractive to investors. Announced a day after the OFS concluded, this dividend yields nearly 4% over the OFS price. The ex-date for the dividend payout is set for August 28. This is HZL’s second interim dividend this year, following a Rs 10 payout in May.

Original Story https://www.business-standard.com/markets/news/baroda-bnp-paribas-mf-starts-dividend-yield-fund-for-steady-returns-124082200003_1.html
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