The Hindu Business Line : Sunday, February 09, 2003

IDBI Principal Equity: Pare exposures
INVESTORS in the IDBI Principal Equity Fund can contemplate paring exposures and switching to other equity schemes with a more consistent track record. The performance has improved considerably over the last 15 months or so, pushing up the NAV of ... More

Alliance Equity: Hold
WITH Alliance Capital Inc., the US stakeholder in Alliance Capital Asset Management, reaffirming that it will continue with its Indian operations, investors in the Alliance Equity Fund can retain their investments for now. However, the ... More

Alliance Capital: Not dumping Indian operations
ALLIANCE Capital Management LP, US, has decided to retain its Indian operations. Alliance Capital Mutual Fund will as a consequence of this decision see no ownership changes for its Indian operations. The group has taken a clear stand, ending ... More

DSP ML Top 100 Equity Fund: Avoid now
INVESTMENTS in the initial public offer of DSP Merrill Lynch Top 100 Equity Fund need not be considered now. The performance of the equity funds of DSP Merrill Lynch, such as DSP ML Equity and DSP ML Technology.com, has not been impressive ... More

Fund of funds: Grey areas may dim appeal
THE bewildering array of finely differentiated mutual fund products and the absence of reputed fund rating agencies make it difficult for Indian mutual fund investors to pick the right funds to make up their portfolios. Seen in this light, SEBI's ... More

Junior BeES: Avoid
INVESTORS can avoid making any commitments in the new exchange traded fund launched by Benchmark Mutual Fund. This fund will track the S&P Junior Nifty Index. In general, investors interested in pursuing equity exposures through the mutual fund ... More

Taurus Bonanza Exclusive Growth: Pare exposures
INVESTORS in Taurus Bonanza Exclusive Growth can use the NAV run-up over the last year to reduce their exposures to the fund. The performance of the fund in 2002 improved, pushing the NAV above the Rs 10 level now. The fund was taken over by ... More

Templeton India Floating Rate Fund (Long-Term Plan): Invest
THE holding period returns in Templeton India Floating Rate Fund (Long-Term Plan) since its launch in February 2002 is 7.15 per cent. Those who prefer stable market returns can take small exposure in the fund. Investors may consider the ... More

Know about fund of funds
A FUND of funds (FoF) scheme is a mutual funds scheme that invests in other mutual funds schemes rather than in securities. Such schemes are prevalent in international markets, and can have different investment patterns and strategies as ... More

What is impact cost?
A RECENT discussion with a fund manager on the costs involved in managing index funds led to debate on impact costs. What is impact cost? It is the cost of executing a transaction on the stock exchanges. Suppose you want to buy 5,000 shares ... More

DSP Savings Plus: Avoid now
INVESTORS can avoid taking exposures in DSP Merrill Lynch Savings Plus during its initial public offering. Instead, they can wait for the fund to build a good performance track record before investing. Several factors support this ... More

More special bonds to be issued for UTI fund infusion
AS part of its overall package for the beleaguered Unit Trust of India (UTI), the Government has infused an additional Rs 418 crore into the Specified Undertaking of the Unit Trust of India. After February 1, the Administrator of the Specified ... More

STOCK MARKETS

Global markets: Worries over war fears
AFTER beginning the New Year optimistically, stock markets across the globe turned volatile amid growing concerns of a US-led war against Iraq. Not a single day passed during the month without war rhetoric. Towards the end of the month, the ... More

DERIVATIVES MARKETS

Technology stocks lose lustre
SELECT purchases in blue chips helped the equity indices gain a bit of ground last week. The BSE Sensex ended the week at 3,280 points, higher by about one per cent in relation to the preceding week's closing value. Though most key index stocks ... More

Managing eligible stocks
FUTURES & Options contracts may be introduced on new securities which meet the prescribed eligibility criteria, subject to approval by SEBI. New securities being introduced in the F&O segment are based on the eligibility criteria which take ... More

COMMENTARY

Further downside in ITC
NIFTY (1057.5): The index passed through a volatile trading phase during the week. After a firm trend on Monday, the indices dropped in the next couple of days only to stage a sharp comeback on Thursday. The Nifty is positioned at a ... More

Kotak Mahindra appears bullish
THE market sentiment during the week was overshadowed by the threat of a possible US-led attack on Iraq. After a sharp decline on Wednesday, the Sensex staged an equally dramatic recovery on Thursday. The market sentiment turned weak on Friday ... More

Hindustan Powerplus up on buyback offer from parent
Kotak Mahindra Finance (Rs 190): The stock price of Kotak Mahindra Finance surged this week by 18 per cent. This has to be viewed in the context of license awarded by the Reserve Bank of India to commence its banking business. The bank is ... More

Nasdaq: Sustained downtrend
THE American stock market sentiment was weighed down by the concerns about the US attack on Iraq. After a firm trend on Monday, the benchmark indices failed to make any sort of headway on the upside. Even the unexpected drop in unemployment ... More

RECOMMENDATION

BSES: Sell
Existing investors in BSES could consider encashing their holdings at the current market price. The stock is ruling firm in the Rs 220-225 range due to the ongoing open offer and is most likely to take a downward journey thereafter. The `sell' ... More

Tata Coffee: Buy
INVESTORS can consider taking exposures in the Tata Coffee stock at the current price levels of Rs 70. At its current price-earnings multiple of around seven times latest earnings, the stock price has not captured the marked improvement in the ... More

Goodlass Nerolac: Hold
INVESTORS can continue to hold on to the stock of Goodlass Nerolac Paints, in the light of a good performance in the quarter ending December 2002. The stock of the company, which is second largest player in the paints industry, trades at a price ... More

ICICI Bank: Hold/Sell on rise
FRESH investments in the ICICI Bank stock need not be considered. The transformation of ICICI into a low-cost banking company is progressing at a glacial pace. The expected improvement in the bank's valuation, in line with that enjoyed by HDFC ... More

India Nippon Electricals: Buy
INDIA Nippon Electricals' performance has improved for the quarter-ended December 2002. For the three months ended December 2002, the turnover rose 47 per cent to Rs 45.07 crore. Much of the growth in turnover is explained by the robust demand ... More

Timken India: Buy
TIMKEN India is turning around, boosted by a demand upswing both domestic and international. A manufacturer of roller taper bearings, Timken is an 80 per cent subsidiary of Timken US. It primarily caters to the automobile sector and the ... More

IPOS

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