MARKETS
MUTUAL FUNDS
Mutual funds bear resemblance to market
With the market putting up a topsy-turvy show, the dismal performance of mutual funds over the second quarter of 2006 can only add to the chagrin of equity investors. Just about four of the 191 diversified funds (excluding index funds) ...
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Reliance Tax Saver — Auto, textiles added
The assets of Reliance Tax Saver, an open-ended equity linked savings scheme, grew 16 per cent to Rs 1,150 crore between February and May.We examine the re-jig in the fund's portfolio over the above period. The fund held 35 stocks in its ...
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Update
HDFC Top 200 Fund has changed its exit load structure. With effect from July 3, an exit load of 1 per cent is payable if units are redeemed or switched-out on or before one year from the date of allotment of units. The above is applicable ...
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STOCK MARKETS
Trading on mobile may soon be reality
Broking houses await SEBI nod
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Index Outlook
The Sensex spent the first half of last week in a quiet consolidation phase. It went on to touch an intra-week high of 10940 on Wednesday. Just when visions of another breakout on the upside started building up, the Sensex reversed and fell to a ...
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Weak outlook for SBI
The price of SBI moved up to a high of Rs 762 on Wednesday but ended the week on a weak note at Rs 720, close to its short-term low of Rs 706. The chart of SBI is displaying no strength as the price has failed to retrace even 30 per cent of its ...
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Reliance Industries
The chart of RIL was consolidating in a narrow band between Rs 1,050 and Rs 1,100 all through last week in what looked like a bullish consolidation pattern. But the red engulfing candle formed on Friday has negated the bullishness. The price will ...
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Tata Steel
The stock hit a high of Rs 566 this week and ended at Rs 516.75. The high of Rs 566 is an important resistance level as it is exactly 61.8 per cent retracement of the entire fall from the high of Rs 680. If the current rally is a pullback ...
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Infosys
The chart of Infosys lost momentum this week as is shown by the negative divergence in the 10-day ROC. The price touched an intra-week high of Rs 3,240 before moving lower on Friday. But the chart of Infosys has suffered less damage when ...
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Market Outlook
Arcelor-Mittal Steel and Phelps Dodge-Inco/Falconbridge are the latest in a series of merger moves by large energy and metal companies, to gain scale in their core business through acquisitions. In the past, commodity-oriented ...
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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 ...
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ACC
The chart of ACC looked promising all through last week. It moved with an upward bias to an intra-week high of Rs 827 on Friday. The strength in this chart is, however, belied by the negative divergences in daily momentum indicators. The ...
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Tata Motors
The price of Tata Motors struggled all through last week to get past the resistance of its 50-day EMA positioned at Rs 800. It finally gave way and closed the week at Rs 771. The price has completed a classic zigzag pattern from its recent low ...
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Query Corner
I have 300 shares of Praj Industries at Rs 120. I like to know the short-term prospects of this scrip. Abhay Kulkarni Praj Industries (Rs 180): The stock is in a good medium-term uptrend. The price has bounced off the low ...
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Strategy
I bought Satnam Overseas in February at Rs 86. It moved between Rs 85 and Rs 95 between January and March. Subsequently, it dropped to Rs 75 in mid-March. It rallied to Rs 95 thereafter, fell back to Rs 85 in mid-April and moved past Rs 85 in ...
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DERIVATIVES MARKETS
Nifty: Momentum swings backwards
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RECOMMENDATION
Centurion Bank of Punjab: Buy
Fresh exposures may be considered to the stock of Centurion Bank of Punjab (CBoP) with a one- to two-year perspective. Post-merger, CBoP has shown significant improvements on key parameters. The bank's showing on the asset quality, in particular, ...
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Nestle: Hold
Nestle's performance over the next couple of quarters hinges on the success of its product launches and targeted-marketing attempts.
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Dr Reddy's Labs: Buy
The zing in Dr Reddy's stock over the past year followed a long period of tepid performance. New initiatives over the past one year suggest that there is still some room to be covered on the upside.
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Essel Propack: Hold
Though Essel Propack's recent acquisitions augur well for diversification, it is unlikely to bring in significant revenues in the near term.
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Indraprastha Gas: Buy
Increasing conversion of vehicles to CNG in Delhi and the expansion around the capital augur well for the growth prospects of the company.
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Bharat Gears: Avoid
Considering Bharat Gears' low operating margins in the business, tough competition and the high debt-equity ratio, the operational risks are high and investments may not pay off adequately.
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HSBC India Opportunities: Hold
The fund has maintained a bias towards large-caps over the past year, which has paid off both during the rally till May and in the correction thereafter.
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Sundaram S.M.I.L.E: Hold
Investors looking for an exposure to small-cap stocks can stay with the fund, as long as it remains a small portion of the overall portfolio.
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