The Hindu Business Line : Sunday, April 23, 2006

Axis board proposes Rs 2 final dividend
Axis Capital Markets India Ltd has informed the BSE that the board of directors of the company at its meeting held on April 21, inter alia, proposed a full and final dividend of Rs 2 per share for the previous year ended March 31, 2006. ... More

MUTUAL FUNDS

There is no perception mismatch in index funds
It is becoming difficult for fund managers to consistently outperform. In 2003-04, our Junior BeEs fund, which tracks the Junior Nifty index, was No 1. But it was just sheer luck. More

PruICICI Emerging S.T.A.R
The quarter ended March 2006 witnessed an improvement in the performance of mid-cap indices compared to the previous quarter. Fresh buying interest was seen in many mid-cap stocks. PruICICI Emerging S.T.A.R (Stocks Targeted At Returns) also added ... More

Fund Talk
I have invested in the following funds, after my retirement from service in October 2004. Franklin Flexicap (Growth-G), Fidelity Equity (G), Sundaram Leadership (Dividend Reinvestment-DR), Sundaram CAPEX (G), Sundaram SMILE (R), HDFC Equity ... More

Dividend spree from MFs
Principal Mutual Fund has declared a dividend of 15 per cent for Principal Dividend Yield Fund. The record date is April 24. UTI Mutual Fund has declared a maiden dividend of 40 per cent or Rs 4 per unit under UTI ... More

STOCK MARKETS

Index Outlook
The market action was not in line with expectations. Contrary to the expected bearish trend, the market sentiment was distinctly bullish during the week gone by. The spurt in Reliance Industries, along with the rally in the stocks from the metals ... More

Use dips to buy Reliance
Contrary to the short-term bearish view, the stock ruled firm and was instrumental in pushing the Sensex past the 12000-point mark. The close above the positive trigger level of Rs 870 imparted bullish momentum and the stock moved past Rs 1,000 ... More

Infosys
After a strong upward move in the early part of the week, the momentum ran out of steam as the week progressed. The short-term outlook remains bearish and a drop to Rs 3,060-3,080 appears likely. Remain invested with a stop-loss at Rs ... More

Satyam Computers
The stock could, however, get into a short-term uptrend towards the resistance zone at Rs 835-840. Try to reduce exposures on uptrend. Investors willing to take risk may consider short positions on the evidence of resistance at Rs 835-840, ... More

Tata Steel
The stock is in a long- term uptrend and is one of our top picks from the metals space. Investors with a long-term investment horizon may find exit opportunities at Rs 800-825. In the near-term, it could face resistance at Rs 690-700. ... More

SBI
The overall positive market sentiment did not have any impact on the movement of this stock. Except for an upward move on Monday, a bearish trend prevailed in the remaining days of the week. The recent price patterns indicate that the share price ... More

Positive trend in Nifty likely
More

Strategy
Please explain the concept of fixed money-based stop loss method. In my experience, quite a few stocks have recovered to deliver reasonable returns even after the stop loss is triggered. Will it not be advisable to wait till such time the ... More

`Metals may be a pleasant surprise in future'
Auto, banking sector may disappoint from a medium-term perspective, says Nilesh Shah More

CHART FOCUS
Praj Industries
The stock went into a corrective phase in August 2005 after having been in a multi-year bullish trend. This corrective phase appears to have been completed and the next leg of the upward move seems to have got under way. The stock could move to ... More

FOLLOW UP
GTC Industries
The stock ruled firm as anticipated last week. The recent price action has validated the long-term bullish view. As observed earlier, the stock is in a long-term uptrend and a move to the immediate target zone at Rs 375-Rs 400 appears likely ... More

Query Corner
Shall I hold or exit from Essar Oil and MRPL? V.V.Rao, V.Asokhan, Venu, Selva Mohan, Sanjaykumar Essar Oil (Rs 62): The share price has seen a sharp spurt in the recent weeks. This has pushed the stock into an overbought ... More

Trading Tips
Never try to fight a trend by taking positions against the prevailing trend. Though it may be always tempting to buy a stock that is falling with an intention to lower the average cost of acquisition, such a practice should be ... More

Foreign funds differ on Indian stock valuations
Bears among FIIs outweigh bulls by fair margin More

DERIVATIVES MARKETS

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 at a given price ... More

RECOMMENDATION

Crisil: Buy
At 34 times earnings, the valuation may appear stiff; it is justified when one considers the substantial and productive growth prospects. Crisil's advisory, research and information services, run through its subsidiaries and joint ventures, ... More

Reliance Media Entertainment: Hold
The presence of a number of large-cap stocks in the portfolio has enabled the fund to handle volatile phases with minimum damage to asset value. More

D. S. Kulkarni Developers: Invest
Earnings although likely to be cyclical on a year-to year basis may see growth over the long term on the back of increased real estate development activity in the country. More

Bihar Caustic: Buy
Bihar Caustic, which is already among the cheaper producers of caustic soda plans to move to the energy efficient membrane cell technology platform at a cost of Rs 110 crore. More

Sasken Communication: Buy
Sasken is a focussed products-cum-services play catering to the telecom vertical, with its contribution likely to power margin and bottomline growth. More

Tata Pure Equity: Invest
Investors can consider exposure in Tata Pure Equity, as its portfolio appears well-equipped to weather sluggish phases of the market. The fund has had a fairly impressive track record over the past eight years and has comfortably outperformed ... More

Taurus Starshare: Hold
Investors can retain their exposures in Taurus Starshare. The fund does not have an impressive track record in bear phases. Since 2002, its performance has picked up significantly. Over the past year, the fund has delivered a return of close to ... More

Geojit Financial Services: Buy
The broking industry is in the midst of a scorching growth phase. Being a pioneer in online trading, commodity trading and the first to enter the West Asian market, Geojit could be a good long-term exposure to the industry. More

El Forge: Buy
This small-cap stock is likely to fast-track growth, riding the buoyant trend in the automobile sector. Buy with a one/two-year perspective. More

Goodlass Nerolac: Buy
Goodlass' strengths suggest that there is scope for bridging the gap between its valuation and that of the market leader, Asian Paints. More

OUTLOOK

Market View
It is rather strange to see such a high level of fear prevailing in the marketplace. Following an increase of more than 200 per cent over the past three years, greed should be the more dominant emotion. Instead, financial analysts cannot stop ... More

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