The Hindu Business Line : Monday, October 06, 2003

PORTFOLIO REVIEW
Prudential ICICI Power: Book profits partially
WITH its net asset value nearly doubling over the past year, PruICICI Power, a fund focussed on "core sector" stocks, from Prudential ICICI Mutual Fund figures among the top performing equity funds over a one-year ... More

PORTFOLIO TRACKER
LIC Dhansamriddhi: Pare exposures
LONG-term investors in LIC Dhansamriddhi can consider reducing their exposures in the fund. While its performance in the last three months has been good, its long-term performance has been rather unimpressive. The fund ... More

Alliance Basic Industries
Risk-averse: Book partial profits
Others: Hold More

K-Gilt Savings Plan: Invest
K-Gilt Savings Plan (Growth) generated one-year holding period returns of 6.5 per cent. The returns compare well with short-term bank fixed-deposits. The fund is suitable for those proposing to construct a bond ... More

TECHNICAL ANALYSIS

Rally still holds steam
Preferred view: The key market indices managed to rule strong last week. The index managed to move past the initial target zone of 1410-1420 that was mentioned last week. The move past the previous pivot high of 1431 is a positive ... More

Positive outlook for IVRCL
ITC (Rs 809.95): The stock was confined to a relatively narrow trading range last week. A break out of this range would be critical in imparting a decisive trend in the stock. The overall outlook continues to remain positive and a move ... More

Query corner
What is the outlook for Reliance Capital and Nicholas Piramal? — T.S.Prasad, Madhusuden & B.P.C.Sharma Reliance Capital (Rs 77.8): The stock could seek higher levels in the near term. A move to the Rs 105-110 range ... More

STOCK MARKETS

Cut in inventory drives tractor scrips
GOOD rains and corrective measures undertaken by the tractor industry have resulted in agri-machinery stocks hitting the accelerator over the past few months. According to industry watchers, major agri-machinery stocks have raced ahead by ... More

Value investing, Graham style
Over the last 12 months, the pay off for employing a Ben Graham-inspired technique has been exceptionally high. Its success suggests that this strategy can be tapped once more now to identify probable investment candidates. However, there are risks t hat need to be suitably factored when employing the strategy in the market place. More

Is an efficient market a random walk?
A STUDENT of finance posed this question: Do stock prices in an efficient market follow a random walk? We can answer the question by looking at the meaning of efficient market and random walk. Take Company X. If there ... More

FOREIGN INSTITUTIONAL INVESTORS

What record FII flows mean for equities
IN THE first nine months of 2003, foreign institutional investors (FIIs) invested more in equity than in the past. The inflows to date in 2003 at $3.10 billion exceeded the previous high of $3.06 billion in 1996. In ... More

FII, trade flows push up forex reserves $771 m
THE forex reserves have risen by $771 million to touch $89.327 billion up from $88.556 billion as on September 26. Despite the cap on NRE deposits, dollar inflows continue into the country unabated. "Most of the inflow is on account of FIIs ... More

RECOMMENDATION

Pfizer: Cut exposures
The earnings numbers for three quarters, unveiled by Pfizer last week, suggest that the benefits of the merger with Parke Davis may take a longer time to accrue. There may also be a merger with Pharmacia Healthcare, says Nath Balakrish nan. More

Bajaj Auto: Buy
TAKING into account the change in product mix in favour of higher value products and a good track record with respect to new product launches, long-term investors could take equity exposure in the Bajaj Auto at the ... More

Madras Cements: Buy
INVESTMENTS can be contemplated in the Madras Cements' stock at about Rs 5,900. This represents a change in our stance on the stock. On June 29, Business Line recommended `booking profits' to capitalise on ... More

IL&FS Investment Managers: Buy
FRESH investments can be considered in the stock of IL&FS Investment Managers (IIM). The stock trades at Rs 25.30, at a price-to-earnings multiple of nearly 13 times its earnings for the year ended March 2003. However, ... More