Business Daily from THE HINDU group of publications
Sunday, April 15, 2007
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Markets (April 13)
BSE Sensex13384.08(+270.27)
S&P CNX Nifty3917.35 (+87.50)
US Dollar (Buy/Sell)42.58 (-0.32)


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MARKETS

INVESTMENTS
Investment Nuggets
Christened as "The Peter Lynch of Bonds", Bill Gross is the astute founder and Managing Director of PIMCO (Pacific Investment Management), which has more than $667 billion in assets under management. His take on the bond markets is said to have ... More

MUTUAL FUNDS
SBI Funds, Citibank tie-up
SBI Funds Management Pvt Ltd - investment managers for SBI Mutual Fund has tied-up with Citibank, to increase the reach of investors across the country, an official release said. In the initial phase, the SBI MF - Citibank ... More

`Stay invested to reap rewards in small, mid-cap stocks'
"Companies in rate-sensitive sectors will be hit. FMCG or pharma firms, which are not affected by interest rates, will find favour." More

Still heavy on software
DSPML Opportunities is a tactical fund that seeks to deliver returns by identifying sectors and stocks in their early stages of rally and investing accordingly. We take a look at the sector and stock changes the fund made over the three months ... More

Fund Update
Mr Anoop Bhaskar, former Head of Equity at Sundaram BNP Paribas Mutual Fund, has assumed the role of Head of Equity at UTI Mutual Fund. Following his exit, Mr N. Prasad, Chief Investment Officer of Sundaram BNP Paribas Mutual Fund, will be ... More

STOCK MARKETS
Query Corner
I am holding shares of Tata Tele Maharashtra bought at Rs 21.65. What are the future prospects of this share in the next one-year? Dr Sudhir Tyagi Tata Tele Maharashtra (Rs 21.8): We had not expected Tata Tele Maharashtra ... More

Reliance
There is nothing new to comment about in this stock. There is a short term up trend in place since the low of Rs 1,262. Our first short-term target of Rs 1,402 was achieved last week. If the stock sustains above Rs 1,360, we can expect it to move ... More

SBI
The stock moved higher last week, in line with our expectation. The stock has the short-term targets of Rs 1,047 and then Rs 1,076. Some profit can be booked on short term longs if the stock sputters around Rs 1,050. We continue to maintain that ... More

Tata Steel
This counter put up a stellar show last week, gaining 10 per cent. The upward breakout that took place last Monday was contrary to our expectation. It has currently moved beyond the 200-day moving average and is consolidating at a higher band ... More

Infosys
Though the stock spent the week on tenterhooks, Friday's rally made the stock close with a gain of 5 per cent. The hammer formation in the weekly chart last week now seems to be a part of a morning star. The short-term resistance for the stock ... More

ACC
A fledgling rally is currently underway in ACC. The stock achieved our first short-term target of Rs 741 last week. Momentum indicators in the weekly chart are extremely oversold. The daily oscillators are just beginning to signal a buy. The ... More

ONGC
ONGC shot up sharply last Monday, reversing the negative outlook for the short term. It is moving in a sideways range between Rs 820 and Rs 890. The stock can stay within this range for a few more sessions. Since this sideways move comes after ... 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

DERIVATIVES MARKETS
Momentum set in Nifty futures
More

RECOMMENDATION
Aditya Birla Nuvo: Buy
Investors can consider taking fresh exposures in the Aditya Birla Nuvo stock at current price levels. The company is a solid proxy on the three high growth themes of telecom, insurance and IT/BPO. Based on a sum-of-the-parts valuation, these ... More

Infosys: Buy
Infosys has offered an earnings guidance that is in line with market expectations. More

Hilton Metal Forging: Avoid
The project carries execution risks. Hilton Metal Forgings may find it difficult to command premium valuations that are in line with the big players. More

Bhagwati Banquets and Hotels: Avoid
The offer is stiffly valued with limited visibility on the revenue front in the medium term. More

Fortis Healthcare: Avoid
The company is well placed to capitalise on the high growth potential for healthcare services. But litigation risks cloud earnings prospects. More

Fidelity Equity: Hold
Unitholders can hold Fidelity Equity. The fund has been a strong performer since its launch in May 2005 and is among the top ten performers in the diversified equity category over a one-year period. Over the past year, the fund has delivered a ... More

FT India Balanced: Invest
Balanced funds may offer better protection during volatility as against diversified funds. More

IPOS
MBL Infra public issue assigned Crisil IPO grade of "1/5"
CRISIL has assigned a CRISIL IPO grade of "1/5" to the proposed initial public offer of MBL Infrastructures Ltd (MBL) indicating that the fundamentals of the issue are poor relative to other listed equity securities. The company has proposed a ... More

OUTLOOK
Index Outlook
Activity came to a standstill on the stock markets last week as the countdown to Infosys' earnings announcement began. The company's management, well aware of the significance placed by the markets on their guidance, did all they could to assuage ... More






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