The Hindu Business Line : Sunday, June 26, 2005

Odyssey to issue pref shares
CHENNAI: Shareholders of Odyssey Technologies Ltd approved a proposal to issue 7.24 lakh preference shares to a non-promoter group, at an EGM held on June 15. The shares, valued at Rs 14.75, have a face value of Rs 10 each, according to ... More

OPEN OFFERS

Vanavil Dyes: Reject
SHAREHOLDERS of Vanavil Dyes and Chemicals can reject the open offer being made at Rs 45.9, which is substantially lower than the prevailing market price of Rs 63. A section of the shareholders is entitled to ... More

INVESTMENT BANKING

SEBI GUIDE
Understanding the role of intermediaries
syndicate members, registrars to the issue, bankers to the issue, auditors of the company, underwriters to the issue, solicitors, etc are the intermediaries to an issue. The issuer discloses the addresses, telephone/fax numbers and email ... More

MUTUAL FUNDS

SPOTLIGHT
Alliance Buy India Fund: Book profits
INVESTORS should consider booking profits in the Alliance Buy India Fund to lock inthe impressive 100 per cent returns from the fund over the past one year. As a theme fund playing on the purchasing power of Indian ... More

SBI Magnum Emerging Businesses Fund: Hold
INVESTORS in SBI Magnum Emerging Businesses Fund can stay with the fund. It has performed impressively since its launch in August 2004, registering returns of 66 per cent. In the last six months, it has notched ... More

SBI unveils Magnum Comma Fund

Franklin Templeton Mutual Fund has announced a dividend of 20 per cent, or Rs 2 per unit, on FT India Balanced Fund. The record date is June 15. The fund has also declared a dividend on Franklin India Prima fund. The record date is July ... More

TAXATION

Evidence of payment of securities transaction tax
THE National Stock Exchange has received queries from various quarters with respect to evidence of payment of securities transaction tax for claiming deduction under Section 88E of the Income Tax Act. In this regard, ... More

TECHNICAL ANALYSIS

Indices overstretched; correction appears due
Preferred view: It was quite an eventful week at the stock market. The Nifty scaled a new peak by moving past the earlier high of 2183 recorded in March. The index also moved past the psychological 2200 mark on Friday. It, however, ... More

Query Corner
I bought Ranbaxy at Rs 1245, with expectations that it would move to Rs 1500. Is there any possibility of the stock moving to this level? — Vidhya Ranbaxy (Rs 1104.2): Though the outlook appears bullish, it would be ... More

Positive trend in Reliance
Reliance Ind (Rs 654.7): The stock moved in line with expectations. It ruled firm and moved comfortably past the target zone of Rs 630-635. It appears on course to move to the next target zone of Rs 675-680 that was mentioned last week. ... More

Focus of the week
Godrej Industries (Rs 227.7): The long-term outlook for the stock is bullish. After a sharp upward move that lasted till early June, the stock went into a sharp corrective phase that appears to have been complete at the recent low at Rs ... More

STOCK MARKETS

Are valuations stretched now?
With the Sensex crossing the 7000 mark, valuations belonging to `mid-cap', `small-cap' and `value stocks', are at a high. But one must be practical in investing and not expect yearly returns of the kind seen in 2003 and 2004. For expectations of 10-1 2 per cent returns, equities are still the best bet. More

DERIVATIVES MARKETS

Reliance Capital in focus
THE trading activity at the F&O segment on the NSE picked up ahead of the settlement of June month contracts; the average daily volumes jumped to Rs 13,947 crore against the previous week figure of Rs 9,638 crore. The roll-over of positions from More

Mixed signals for Nifty
Nifty outlook: The Nifty is looking a little mixed up, with the June contracts is heading for settlement during this week. While the sentiment indicators such as put/call ratio, implied volatility and cost-of-carry present a bearish ... More

RECOMMENDATION

Century Textiles: Hold
SHAREHOLDERS of Century Textiles may remain invested, as there appears room for expansion of earnings in its cement and textiles businesses. The stock has trebled over the past couple of years and trades at a price-earnings multiple of 17 ... More

Balrampur Chini Mills: Hold
AFTER two years of significant expansion in earnings, sugar companies may record modest earnings growth this financial year. Sugar prices are already beginning to flatten out, with production set to bounce back in the coming season ... More

Sesa Goa: Buy
AN investment may be considered in the stock of Sesa Goa that trades at about Rs 580. The company's earnings for FY 06 are likely to reflect the benefit of 70 per cent hike in iron-ore prices that has been agreed ... More

Geometric Software: Hold
RECENTLY, Geometric Software revised its management guidance for 2005-2006 downwards in the light of two developments:

Shift in the commencement date on several projects to the next quarter;

Delay in the ... More

Reliance Capital: Hold
SHAREHOLDERS of Reliance Capital can continue to hold the stock. Fresh investments can be avoided now as there is nothing substantive to base the investment decision upon. Reliance Capital's performance has not been ... More

IPOS

Nectar Lifesciences: Invest at cut-off
AN INVESTMENT in the initial public offer of the Chandigarh-based Nectar Lifesciences can be considered. Investors may subscribe to the issue at the cut-off price; this would entail paying Rs 240 per share on ... More

Era Constructions: Invest
AN INVESTMENT in the equity offer of Era Constructions can be considered. At an offer price of Rs 72, the stock is valued at 10 times the expected FY-06 per share earnings on the post-issue equity base. The industry ... More

Stock Quotes
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