The Hindu Business Line : Sunday, July 17, 2005

SSI stake sale triggers open offer for Aptech
SSI Ltd has sold 10 per cent of its stake in Aptech Ltd to Aptech Investments. Following this, SSI's stake in Aptech Ltd has been reduced to 5.60 per cent, according to an SSI official. SSI sold 33.51 lakh shares at Rs 56 a share, totalling Rs ... More

MUTUAL FUNDS

`Bull markets are more challenging than bear phases' — K. N. Siva Subramanian, Sr V-P, Franklin Templeton
K. N. Siva Subramanian, who has managed Templeton's flagship funds — Franklin India Bluechip Fund and Franklin India Prima Fund — for over a decade, likes to maintain a low profile. You won't find him on TV expounding on the ... More

It is mid-caps for the long term
MID-CAP stocks have been lying low in the recent times after racing ahead of large-caps over the past couple of years. Many experts also caution about their high valuation levels. So how should an investor allocate his ... More

Sharp drop in MF inflows — Retail investors prefer to party on their own
THE stock markets are soaring and bourses are ringing with cash, but it seems the mutual funds companies are being kept away from the party. Asset management companies, distributors and portfolio management services concede that with the ... More

DSP ML Equity Fund: Hold
INVESTORS can stay with DSP ML Equity Fund, which has delivered a return of about 70 per cent over the past year. This places it in the upper quartile of the performance charts. The fund has a reasonably good track record over a three-year ... More

SPOTLIGHT
Alliance Basic Industries: Sell
INVESTORS in Alliance Basic Industries may reduce exposures following its indifferent performance over the past year, especially in the last six months. Investors could consider a switch to SBI Mutual's Magnum Contra Fund, which has a superior ... More

PORTFOLIO MOVES
Reliance Mutual Fund
RELIANCE Mutual Fund, which has an aggressive fund management style, has made several changes across its portfolios in June. Business Line takes a look at how the fund house has re-jigged its portfolios at a time when markets are at their ... More

FUND TALK
Suggest a close-end fund
Buying a close-end fund just because it is available at a discount to the NAV doesn't guarantee that you will make a reasonable return on your investment. More

PruICICI launches Infrastructure Fund

PruICICI Mutual is launching a sector fund, PruICICI Infrastructure Fund. The fund will invest in sectors such as telecom, power, coal, and construction. The minimum investment amount is Rs 5,000. Dividend and growth options are available. ... More

STOCK MARKETS

`Synergy' report unlikely to energise oil stocks
The recommendations of the Synergy in Energy Committee are likely to act as a further dampener on depressed oil stocks. While the panel's views on mega mergers has put the brakes on speculative interest, its suggestion to set up a price stabilisation fund seems to hark back to the era of administrative control when, in fact, the efforts should be towards freeing the industry. More

DERIVATIVES MARKETS

F&O POINTERS
Range-bound movement likely
Nifty outlook: Though the Nifty remained volatile last week as expected, it could not break the recommended barrier on either of the directions. As a result, the recommended strategy - long straddle i.e. buying 2160 puts @ Rs 32 and ... More

Options guide
Call option: A call option gives the buyer `the right but not the obligation' to buy the stock at a specified price on a future date. Put option: A put option gives the buyer `the right but not the obligation' to sell a stock ... More

COMMENTARY

A roller coaster ride
MARKETS witnessed a roller coaster ride through the past week. Volatility continued to dominate the bourses with the Sensex and Nifty gaining less than 1 per cent over the week. It has nevertheless been an uninterrupted rally for 11 straight ... More

RECOMMENDATION

Infosys: Buy
INVESTORS can consider taking fresh positions in the Infosys Technologies stock at the current price levels. In our view, the post-earnings announcement weakness in the stock represents a buying opportunity for ... More

Macmillan: Buy
INVESTORS with a long-term investment horizon can consider taking exposure to the Macmillan India stock. At the current price of Rs 470, the stock trades at a multiple of 17 times its 2004 (year-ended December) per ... More

Centurion Bank-Bank of Punjab — Bank on the merger
Centurion Bank: Hold
Bank of Punjab: Hold More

Thomas Cook: Hold
SHAREHOLDERS can retain their holdings of the Thomas Cook stock. The current valuations are rich, at about 33 times the expected consolidated per share earnings for the year ending October 2005; the valuation is also ... More

NDTV: Hold
SHAREHOLDERS of New Delhi Television (NDTV) can retain their holdings, as there is scope for appreciation linked to fundamentals and enhanced institutional investor interest. The company's earnings card for the first ... More

Aegis Logistics: Buy
AN investment may be considered in Aegis Logistics, as growth prospects appear bright. As a focused play now in the logistics space, the company is well placed to capitalise on growth opportunities in the business of handling, storage and ... More

IPOS

Infrastructure Development Finance Company: Invest at Rs 34
INVESTMENTS can be considered in the initial public offer of Infrastructure Development Finance Company. Considering the growth prospects and the fundamental strengths of the company, the pricing is not demanding. If ... More

SEBI GUIDE
Equity offers: Terms you must know
Cut-off price: Book building issue, the issuer is required to indicate either the price band or a floor price in the red herring prospectus. The actual discovered issue price can be any price in the price band or any price above the floor ... More

Stock Quotes
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