MARKETS
NEW FUND OFFER
NFOs still have promises to keep
Quite a few new funds under-performed their benchmarks over the last year or so. However, with the frequent reversals in the market and considerable churn in the sectors leading each rally, the past year has been challenging, even for established equ ity funds.
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DIVIDEND ANNOUNCEMENT
CanEquity tax scheme declares 60% dividend
Canbank Mutual Fund has declared 60 per cent dividend on its CanEquity Tax Saver Scheme, which has a face value of Rs 10. The CanEquity Tax Saver Scheme is an open-ended equity linked tax saving scheme. The investment objective of the scheme is ...
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MUTUAL FUNDS
Sundaram BNP Paribas Select Midcap — Adding to IT
As mid-cap and small-cap stocks once again bear the brunt of market declines, we take a look at the portfolio moves of Sundaram BNP Paribas Select Midcap (Select Midcap) in recent months. Between November and January, the fund gradually enhanced ...
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`Fund managers will continue to outperform the market'
With equity fund assets still making up just 3 per cent of the overall market capitalisation, there is still a long way to go... With the Gross Domestic Savings up to 34 per cent, huge amounts of savings are coming in.
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Update
Reliance Mutual Fund has announced a 75 per cent dividend under Reliance Growth Fund. Record date for the same is March 12. The fund had declared a 25 per cent dividend in October 2006. JM Financial Mutual Fund has launched JM ...
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Fund Talk
I am an NRI and actively invest in mutual funds. I am currently investing Rs 10,000 each in the following funds through the SIP route: Magnum Contra, HDFC Equity, Reliance Growth and Franklin Flexi Cap. I can afford another Rs 20,000 per month ...
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STOCKS
Reliance, IPCL merger swap ratio set at 1:5
For IPCL merger with itself
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Eicher declares 290% interim
Eicher Motors Ltd on Saturday declared an interim dividend of 290 per cent for the financial year 2006-2007. This includes a one-time special dividend of 250 per cent. The dividend will be distributed to shareholders as per ...
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FINANCIAL MARKETS
Understanding risk appetite
Risk is the possibility of an adverse situation that each one of us faces daily in our lives. When we walk we may be hit by a vehicle, when we cook we might be injured in the kitchen, when we travel there is the possibility of an accident. If we ...
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STOCK MARKETS
SMART MESSAGE
A yen for carry-trades
If you are wondering how the strengthening of the yen vis-à-vis the dollar has anything to do with the the stock market meltdown, read on. Among the many reasons attributed to the slump in the world markets, the yen carry-trade is the ...
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Query Corner
Please give your medium term technical view for Jupiter Bioscience. Can one buy at the current price of Rs 134 for holding period of 12 to 18 months? S.H. Shah Jupiter Bioscience (Rs 132.5): Jupiter Bioscience is moving in ...
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Reliance
This counter led the market lower last Monday. But the mid-week recovery took the stock price to its 50-day moving average positioned at Rs 1,350. We have a star on the weekly chart with long upper and lower shadows. This denotes indecision. ...
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Investment Nuggets
Irving Kahn is one more towering proponent of `value investing' who imbibed his investing principles from the legendary Benjamin Graham. Kahn worked as a second teaching assistant for Graham at his lectures at Columbia University that ...
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SBI
The stock slipped below the 200-day moving average last Monday and stayed below the average for the rest of the week. The stock made an intra-week low of Rs 947 on Wednesday. This is exactly 61.8 per cent retracement of the upward move since the ...
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Prominent bulk deals on NSE and BSE
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Tata Steel
This stock hit a low of Rs 399 last Thursday before staging a recovery. But the upward move needs to go a little further before we can conclude that the short-term slide has been arrested. The short- term resistances for the stock exists at Rs ...
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Infosys
The scrip made an intra week low of Rs 2,000 on Monday and spent the rest of the week trying to stabilise at lower levels. As mentioned last week, the move from the low of June 2006 is currently being retraced. The 38.2 per cent retracement of ...
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ACC
The steep drop continued this week too in ACC and the stock closed 9 per cent lower. We had indicated last week that the move from May 2003 could have ended in this stock. There is important long-term support at Rs 787, where it is halting ...
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ONGC
The stock moved between the intermediate term support of Rs 742 and the long term 200-day moving average last week. A fall below Rs 742 will drag the stock towards its June 2006 low of Rs 620. But a reversal from here can pave the way for the ...
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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 ...
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Stock contest correction
B.A.G Films recorded the maximum gain of 66 per cent among all the stocks picked by participants in the February contest. Accordingly, Ms. Mary George of Kochi, who picked the above stock, is declared the winner and not as reported in the edition ...
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DERIVATIVES MARKETS
Nifty skewed in favour of bears
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Options guide
RECOMMENDATION
Maruti Udyog: Buy
Investors with a medium-term outlook can consider taking exposure in the stock of Maruti Udyog Ltd. The stock trades at a little over 15 times its trailing 12-month earnings. With market conditions turning volatile, the stock of Maruti Udyog ...
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Templeton India Equity Income Fund: Invest
Given TEIF's short track record, fresh exposures can be considered as a diversification option, rather than as a core holding.
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Reliance and IPCL: A plastic merger
IPCL: Hold
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Principal Large Cap Fund: Hold
Unitholders can retain their investments in Principal Large Cap Fund as it has recorded a reasonable performance vis-à-vis its benchmark and peers since its launch (annualised 46 per cent return, relative to the Nifty's 34 per cent). ...
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TCS: Buy
The introduction of MAT and fringe benefit tax on ESOPs are unlikely to materially impact the company's financials.
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Coromandel Fertilisers: Buy
Coromandel Fertilisers has shown the ability to weather adverse business cycles in the past and has made the strategic moves to secure future earnings and growth.
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Gremach Infrastructure: Avoid
Though the company's growth prospects are bright, the market is likely to throw better opportunities for investors to enter the stock later when it is valued attractively.
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IPOS
Zylog Systems plans to go public
Zylog Systems Ltd plans to enter the capital market with an initial public issue of 36-lakh equity shares of Rs 10 each through the book-building route, according to a press release. Funds raised would be used to part finance the company's ...
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OUTLOOK
Index Outlook
The movement of Sensex last week drives home the undeniable truth that stock markets are not for the faint-hearted. Investors were buffeted between hope and despair as Sensex made its way over a rocky terrain, hurtling down one day and soaring up ...
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Market View
The Budget did what was expected — cut import duties further to tame inflation. As expected agriculture appears to be the thrust area and although rural credit had grown dramatically — the fact that output had not, was ...
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