The Hindu Business Line : Sunday, November 06, 2005

The storyline
THEME-based investing is not new. All bubbles, starting from the boom and bust of the stock price of South Sea Company in 18th century, were based on themes. It has, however, caught the imagination of global investors in recent times. But what ... More

INSIGHT

Of stocks and opportunity cost
MY FRIEND hired a professional money manager to invest in equity. The money manager gave my friend a list of stocks but suggested that he buy them at higher levels. My friend argued that if a stock were worth buying at a higher price, it ... More

MUTUAL FUNDS

Retail assets expand for MFs
RETAIL has been the fastest growing segment for the mutual fund industry so far this year. The retail money managed by mutual funds has expanded by 82 per cent between January and September 2005 for the funds tracked by CAMS - the leading ... More

Deutsche Alpha Equity: Sell
INVESTORS in Deutsche Alpha Equity Fund may sell their holdings to take advantage of the upward trend in equities since July. The fund's performance has slipped and it has not capitalised on the rise in large-cap stocks; as a result, it has ... More

Morgan Stanley Growth Fund: Invest
INVESTMENTS can be considered in Morgan Stanley Growth Fund, a close-ended fund that can be bought only in the stock market. The fund is trading at a discount of close to 18 per cent to its net asset value. This discount is at the lower end of ... More

`Services add flavour to your portfolio' — Mr Nilesh Shah, CIO, Prudential ICICI MF
At 8800 Sensex levels, some stocks in the services space were expensive and it was harder to find value in them. With the market correction, we find a lot of great investment opportunities opening up for those seeking to invest into this fund. More

TECHNICAL ANALYSIS

Focus of the week
HDFC (Rs 1,002): The stock has been a star performer over the past couple of years. After moving to a high of Rs 1,080, the stock has been in a corrective mode over the past couple of months. This corrective phase appears complete at ... More

Nature of recovery is a question mark
Preferred view: The market sentiment was distinctly bullish during the just-concluded week. The Nifty notched up a gain of about 100 points during the truncated trading week. It is positive to notice that the index has managed to ... More

Query Corner
I purchased FDC at Rs 50.75 and Centurion Bank at Rs 19. Please advise whether to hold or sell these shares from a short-term perspective. — Rekha Ravindra FDC (Rs 47): There short-term outlook is positive and a move to the ... More

Reliance perched above crucial trigger
Reliance Ind (Rs 777): Similar to most of the other index heavyweights, this stock, too, managed to hold above its crucial bearish trigger level. The recent rally appears to be part of a correction to the earlier fall. This upward ... More

DERIVATIVES MARKETS

F&O POINTERS
Undertone in Nifty turns positive
If the Nifty begins on a positive note and holds on to current levels, it may go up to 2465-75 levels. 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

REGULATORY BODIES & RULINGS

SEBI to relaunch MAPIN, sans fingerprinting of investors
SEBI will shortly begin another round of its Unique Identification programme under MAPIN (Market Participant and Investor Database), this time doing away with the requirement for fingerprinting of market participants. Unlike the earlier system, ... More

RECOMMENDATION

Riding the wealth generation theme
IN MARCH 2000, fund managers at DSP Merrill Lynch were excited about the launch of DSP ML Opportunities. This fund set out to spot trends in the stock market and invest early. Sold on the idea, it said such ... More

Dabur India: Buy
INVESTORS with a medium term investment horizon can consider exposures in the Dabur India stock at the current price of Rs 166. The consumer goods sector is reviving from a prolonged downturn. Investing in the Dabur ... More

Gateway Distriparks: Hold
SHAREHOLDERS of Gateway Distriparks can retain their exposure, as the company's growth prospects over a two/three-year period appear promising. Stocks in the logistics space are likely to figure prominently in investor preferences, as this sector ... More

Balrampur Chini Mills: Hold
CONTINUED buoyancy in sugar prices, an increase in cane crushing volumes and new revenue streams from by-products have helped Balrampur Chini Mills report a 53 per cent jump in operating profits on a 40 per cent rise in net sales, for the ... More

Arvind Mills: Hold
ARVIND Mills has delivered an impressive performance over the past four quarters, powered by lower cotton prices, an upswing in demand for denim and lower fuel cost. But the likely slowdown in demand for the fabric appears to have given the ... More

India Cements: Hold
SHAREHOLDERS of India Cements can remain invested, as there has been a big boost to the debt-reduction process. The fundamentals in the southern market also appear to rest on more solid ground than a year ago. These ... More

KEC International: Buy
INVESTORS with a penchant for risk can consider taking exposure in the KEC International stock with a one/two-year perspective. At the current price of Rs 258, the stock trades at about 17 times its expected FY-06 earnings. A strong ... More

Manugraph India: Buy
AN investment may be considered in Manugraph India with a one-to-two year perspective. Manugraph manufactures printing presses used in the newspaper industry and also makes products that are used for printing a variety of ... More

PUBLIC OFFER

Public offers and sustaining the rally
FOUR of the last five book-built offers, that have since listed, are now trading at a discount to their offer prices. There are indications that a few banks may postpone their public offer plans. Some, such as ICICI, are reported to be ... More

INVESTOR PROTECTION

Safeguards in a takeover
What are the safeguards incorporated in the takeover process so as to ensure that shareholders get their payments under the offer/ receive back their share certificates? Before making the Public Announcement, the acquirer has to open an ... More

PEOPLE

A peek into a trader's diary
An intrepid day trader who has now changed tack, shares his experiences in the stock market and the lessons of caution and control he's learnt. More

Stock Quotes
SE Diary

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In Depth

Gender Justice

Simple Economics

Tax Talk

Looking back
Oct. 30-Nov. 5
This 2-day week may set the short-term direction

Foreign brokerages plan to widen mid-cap basket