The Hindu Business Line : Sunday, August 14, 2005

SBI Caps to enter retail broking with Rs 50-cr investment
SBI Capital Markets is planning to enter retail broking within the next three months by setting up a separate subsidiary. The merchant banker will make an initial investment of Rs 50 crore for retail broking, according to Mr Indrajit Gupta, ... More

INVESTMENTS

Bubbles, valuation and informed investing
If you invest in stocks enamoured by their earnings generation capacity and have the financial strength to hold through market cycles, you will certainly earn returns. More

MUTUAL FUNDS

PORTFOLIO MOVES
Kotak Mutual slant to IT, banking
KOTAK Mahindra Mutual fund is managed by Kotak Mahindra Asset Management Company, a wholly-owned subsidiary of Kotak Mahindra Bank. The fund house has reduced its exposures in several stocks over June and July. ... More

Franklin Prima: Invest in small lots
AN investment may be considered in Franklin India Prima Fund, as its performance continues to be top-notch. Its portfolio also holds promise of steady gains and is in a superior position to weather any downturn in the ... More

Reliance Banking: Pare exposures
THE relentless upsurge in the prices of banking stocks has continued well into 2005 with the result that the Reliance Banking Fund, launched in May 2003, has accumulated returns of 210 per cent till date. Stocks in the ... More

Chola Midcap: Hold
INVESTORS can stay with Chola Midcap. The fund, launched last August, has delivered an impressive performance on the back of the strong rally in mid-cap stocks. The fund invests in stocks with a market capitalisation ... More

Sundaram Mutual launches Capex Opportunities Fund

Sundaram Mutual has launched Sundaram Capex Opportunities Fund. The offer will be between August 10 and September 5. This open-end fund will invest in companies that have a presence in the capital goods sector. The universe will ... More

FUND TALK
How often should I book profits?
In a recent TV programme, an expert was asked whether it is worthwhile for a retail investor in equity funds to book profits now, in view of the record high levels of Sensex and other indices. He was categorical that this should not be ... More

TECHNICAL ANALYSIS

Query corner
Please advise whether to hold or sell GlaxoSmithKline Pharma. — Sudhir Padhye, Suma Sudheer Glaxo (Rs 911.8): The long-term trend is bullish and the stock could move to the Rs 1000-1050 range shortly. There is no ... More

Momentum wanes in Nifty
Preferred view: The expected short-term correction materialised during the week. This was reflected in the form of a lacklustre activity, and the Nifty remained unchanged on a week-on-week basis. Contrary to the strong bullish ... More

Reliance may test support level
Reliance Ind (Rs 703.7): The stock ruled weak and dropped below the first support level at the Rs 708-710 range. The recent price patterns suggest that the share price could test the next support level at the Rs 680-685 range. The ... More

Focus of the week
Tata Chemicals (Rs 188.3): The outlook is positive and the share price could move to the Rs 225-230 range in the near term. The positive outlook would be in force as long as the stock holds above the stop-loss level of Rs 160. A ... More

STOCK MARKETS

He makes big bucks from small margins
"The uptrend will continue but the market will be volatile. I would say the equity market is getting a little dangerous now." More

DERIVATIVES MARKETS

IDFC in F&O list
TRADING activity was robust last week even as there was a high degree of volatility at the derivative segment on the NSE; the average daily turnover was Rs 17,227 crore against the previous week's figure of Rs 17,123 crore. IDFC, which ... More

F&O POINTERS
Volatility may continue
NIFTY outlook: Last week, we had anticipated a volatile trading pattern in Nifty and it moved in line with expectations. To benefit from the volatile trend, we had advised investors to go short if the Nifty dips below 2350 levels and had ... More

FOREIGN INSTITUTIONAL INVESTORS

FUND VIEW
`Indian markets will attract sustained flows': Franklin Templeton Mutual Fund
THE sustained FII flows indicate that the return expectations of global investors could be lower than those of domestic investors. On the other hand, recent economic data has been ahead of expectations due to a ... More

REGULATORY BODIES & RULINGS

SEBI GUIDE
A sneak view of margin trading
Secondary market refers to a market where securities are traded after being initially offered to the public in the primary market and/or listed on the Stock Exchange. Majority of the trading is done in the secondary market. Secondary market ... More

RECOMMENDATION

Orient Abrasives: Buy
AN investment may be considered in the Orient Abrasives stock when it settles on an ex-stock split basis next week, as it holds promise of appreciation over a one- to two-year period. Based on the split ratio, it is likely to settle at about Rs ... More

Bajaj Auto: Buy
AN investment can be considered in the stock of Bajaj Auto, especially on weakness linked to the broad markets. The company has managed to report another quarter of improved performance. A 33 per cent rise in ... More

GHCL: Buy
SHAREHOLDERS can consider taking fresh exposure to the stock of GHCL (formerly Gujarat Heavy Chemicals), which trades at 13 times its trailing 12-month earnings. Higher realisations have increased the company's margins for the first quarter; ... More

Hindustan Construction: Hold
SHAREHOLDERS can remain invested in the Hindustan Construction stock despite the company's sharp run-up in price and the declining operating profit margin. At the current market price, the share trades at about 17 times its expected FY-06 ... More

National Aluminium: Hold
SHAREHOLDERS can consider retaining their exposure in the National Aluminium Company (Nalco) stock at the current price levels. Since the stock has run-up sharply, fresh exposure can be avoided for now. Any ... More

Rajasthan Spinning: Hold
DESPITE a sedate growth in revenues, Rajasthan Spinning recorded an impressive jump in profits for the quarter-ended June 2005. Stable raw material prices and improved operating efficiencies translated into a healthy ... More

IPOS

Sasken Technologies: Invest at cut-off
INVESTORS with an appetite for risk can take exposurein the book-built public offering by Sasken Communication Technologies (Sasken). As a products-cum-services play focussed on the telecom vertical, Sasken will be ... More

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