Business Daily from THE HINDU group of publications
Sunday, January 21, 2007
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Markets (Jan 19)
BSE Sensex14182.71 (-35.04)
S&P CNX Nifty4090.15(-18.90)
US Dollar (Buy/Sell)44.31 (-0.04)


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MARKETS

MUTUAL FUNDS
ETF route to gold
The decks appear to be finally cleared for the launch of mutual fund products in India that can invest in gold. Four fund houses — the UTI, Benchmark, Prudential ICICI and Kotak — have announced plans to launch Gold Exchange Traded ... More

Principal Growth Fund — Software in top slot
Principal Growth Fund is a diversified equity fund that invests across the market- capitalisation range, with a bias towards large-cap stocks. The fund had 58 stocks in its portfolio by end-December, the top ten accounting for 25 per cent. We ... More

Fund Talk
I regularly follow your column and have often found you recommending the Systematic Investment Plan route while investing in mutual funds. When I invest in ELSS funds through the SIP route, I find that redemptions become very difficult, as ... More

Update
Benchmark AMC has received approval to launch the Gold Exchange Traded Scheme; Gold BeES. This scheme will be an open-ended exchange traded scheme tracking the price of gold through investment in the physical metal. The minimum ... More

STOCKS
Revisiting the IPO scene — Do the new entrants still merit a close look?
Buoyed by the bull phase and an unrelenting appreciation in stock prices in the preceding two years, the IPO (initial public offering) market has been quite active in 2005-06, with several big names raising funds through this route. Not only did ... More

STOCK MARKETS
Nifty may drift lower
More

Investing with different caps
Maintaining a balance among large-, mid- and small-cap stocks is as vital as spreading your investments across sectors More

A peep into the world of derivatives
Before you decide to dabble in derivatives, make sure you fully understand their technicalities and of the market. More

CALL-CENTRE
Pricing your order
Are you one of those enthusiastic young investors who has a demat and share-broking account in place and is itching for action. A number of questions may linger in your mind when you execute your first transaction. More so when it is online, ... More

SBI
The stock did not make much headway last week, reversing from our first target of Rs 1,253 on Thursday. Our short-term outlook for this stock stays negative. The rally since the low of Rs 1,126 looks like a pull back rally in a down move. The ... More

Reliance
The scrip achieved our short-term target last week by hitting an intra week high of Rs 1,409. There are no signs of weakness in the daily charts as yet. But, the weekly oscillators are looking over bought. The stock is once again in an impulse ... More

Infosys
The stock could not rally past Rs 2,250. As indicated last week, this has made the short-term outlook negative for this stock. The momentum oscillators in the daily and weekly charts corroborate this view. Infosys can now launch into the third ... More

Tata Steel
It is the resistance at Rs 495 once again that reined in Tata Steel last week. This level is beginning to look ominous now. The crucial support for this stock lies at Rs 450. Fall below this level will signal the resumption of the intermediate ... More

ACC
This counter continues to struggle to close beyond the resistance at Rs 1,105 though this level has been breached many times. However, the sideways movement since Wednesday is a positive signal. The price can move higher to Rs 1,150 and then to ... More

ONGC
The scrip hit an intra-week high of Rs 938 last Monday and spent the rest of the week moving sideways. The oscillators in the daily and weekly chart are signalling a sell, indicating lack of momentum in this stock. The bearish engulfing red ... More

Query Corner
Please advise on the short-term trend at Reliance Communications. V. H. Prasad Reliance Communications (Rs 446.5): This stock made a significant long-term low at Rs 231 on July 24, 2006. It has had a dream-run since then, ... More

Investment Nuggets
Charlie Munger, Warren Buffet's right-hand man in Berkshire Hathaway is as adept as Buffet at investing, and shares his simple non-nonsense approach to stocks. His views on investing and on the stock markets tend to be just as forthright ... More

Money-Talk
A brand domain specialist and marketing consultant of repute, Harish Bijoor has done stints with Hindustan Lever, Tata Tea, Tata Coffee and Zip Telecom during the course of an interesting career spanning various brand management ... More

Trader's Corner
There are over 8,000 stocks listed in various Indian stock exchanges. This should actually translate into a mind-whirring array of choice for a day trader in India. It is next to impossible to scan through all the 8,000+ charts every morning to ... More

Chart Focus
We recommend a buy in Aventis Pharma at current levels. The stock is currently positioned at its long-term support line at Rs 1,400. A three-wave move is nearing completion from the peak formed in May 2006. The stock can consolidate in a band ... More

Tech Tools
You had recommended KEI Industries at around Rs 360 and I had bought 100 shares. You had given one-year target of Rs 520. Post-split the target comes to Rs 104. It is now at Rs 95. Is it worth holding for the rest of the year to gain 10 per ... More

REGULATORY BODIES & RULINGS
MCX plans stock exchange for small, medium firms
Waiting for regulator's permission More

RECOMMENDATION
Bharat Bijlee: Buy
Strong financials and expanded capacities, combined with increased demand for transformers on the back of power reforms lend strength to the earnings prospects for Bharat Bijlee over the medium term. At the current market price, the stock ... More

Aditya Birla Nuvo: Invest
The company is well-positioned to deploy the surplus cash flows from its existing mature value businesses into high growth portfolio in attractive emerging areas. More

Cinemax India: Invest at cut-off
Rapid screen additions could sharply ramp up revenues. However, execution remains a major risk. More

House of Pearl Fashions: Avoid
Though the business model is quite different from pure manufacturers, the company's success in scaling up its sourcing base over the next few years will hold the key to its stock commanding a premium valuation. More

Tata Pure Equity Fund: Invest
Tata Pure Equity Fund's performance since inception makes it a reasonable investment option. The fund has generated a return of 35 per cent on a compounded annual basis since its launch in 1998 and has outpaced the benchmark BSE Sensex by a huge ... More

Redington (India): Invest at cut-off
The company is a predominantly high-volume, low-margin play on IT distribution, planning to ride the buoyant demand for IT products. More

Technocraft Industries: Avoid
While the demand for Technocraft's diversified business is encouraging, the scale of operations, competition and penetrating new markets may pose a challenge. More

Birla Equity Plan: Invest
With mid- and small-cap valuations more attractive now, the portfolio may hold greater potential in the coming year. More

IPOS
Price band for Indian Bank IPO at Rs 77-91
Subscription from Feb 5-9 More

Going public
CENTENARY SPECIAL: Mr M.S. Sundara Rajan, Executive Director, Indian Bank, announcing the bank's IPO at a press conference in Chennai on Saturday.

More

OUTLOOK
Index Outlook
Though corporate India panted and puffed to keep up with searing pace of growth in earnings, the response from the markets was a bored shrug. Sensex recorded a weekly gain of 0.9 per cent. It is becoming increasingly difficult to give a positive ... More






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