MARKETS
PREFERENTIAL ALLOTMENTS
Seeking funds
HDFC Bank: has announced plans to raise a total of Rs 4,200 crore through a combination of preferential allotment to its promoter group - HDFC - or through a domestic public offering or an offering in international markets. ...
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NEW FUND OFFER
Update
In a major relief to mutual fund houses, the Finance Minister has clarified that the entry and exit load charged from investors by mutual fund would not attract service tax under the category of fund management. The Cabinet ...
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MUTUAL FUNDS
Tata Pure Equity Fund — More media exposures
Tata Pure Equity Fund is a predominantly large-cap fund with marginal exposure to mid-cap stocks (market capitalisation less than Rs 5,000 crore). For the quarter ended April 2007, the fund's assets expanded marginally. Here is a look at the ...
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`We are keen on bringing some funds from the global range into India'
When we decided to set up a business, the acid test was whether 20 years from now the business will still be valuable, and the answer is a loud `yes'. — MS ASHU SUYASH, MANAGING DIRECTOR AND COUNTRY HEAD, FIDELITY INTERNATION AL.
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Fund Talk
Is this the right time to invest in mid-cap funds? Please suggest some good mid-cap funds for investment in the present context. Top-rated mid-cap funds, such as Magnum Global, Sundaram Select Midcap and Franklin India Prima, are not doing ...
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STOCKS
Two negative surprises in Bajaj demerger
There is sufficient anecdotal evidence to suggest that any demerger normally unlocks value. However, the Bajaj announcement has two key negative surprises, Mr Amitabh Chakraborty, President (Equity), Religare Securities Ltd, Mumbai, told ...
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Event packed week for stocks
The week began with the public sector banking giant State Bank of India coming out with better-than-expected fourth quarter numbers. The Lok Sabha passed SBI Amendment Bill 2006 allowing the bank to reduce its stake in seven subsidiary banks to ...
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How broadcasters script the growth story
Media Stocks
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Prominent bulk deals on NSE & BSE
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STOCK MARKETS
Query Corner
I have bought Vardhaman Textiles at an average rate of Rs 283 and Finolex Cables at an average rate of Rs 98. Please give me the long-term and short-term prospects for these stocks. Dr M. Ratnakar Shet Vardhman Textiles (Rs ...
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`Demergers unlock value for shareholders'
The recent announcement by Bajaj Auto on planned demerger of the company is the latest in a long line of such decisions by corporates, including NIIT, Zee Telefilms, Indo Rama Synthetics, GE Shipping, Jindal Strips and JK Industries. Welcoming ...
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Emerging markets `increasingly becoming a mainstream asset class'
When the Sensex is comfortably above the 14,000-mark, it may be sobering to remember the volatility that equity markets experienced in 2006. Thankfully, those jolts were transitory; yet, they could "signal more adjustments to come," cautions ...
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Reliance
RIL moved beyond the range between Rs 1,500 and Rs 1,650 last week. The stock has also moved above the trend channel formed from the June 2006 low. Another weekly close above Rs 1,620 will give RIL a medium term target of Rs 1,755. Caution ...
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SBI
We have held that the downward move from the December 2006 peak is correcting the long-term up-move that commenced in 2001. The correction in 2007 has retraced 38.2 per cent of this long-term move. The next upper price target for the stock is ...
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Tata Steel
Though Tata Steel moved higher, it could not emulate SBI's performance in moving towards its previous all-time high last week. Since the intermediate term trend in the stock is up after it reversed from Rs 399, investors can hold the stock as ...
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Infosys
Infosys moved sideways with a negative bias last week. The view on this stock stays unaltered. The bearish overtone will lessen only on a close above Rs 2,150. Conversely, a fall below Rs 1,900 can drag the stock to Rs 1,814. If we consider ...
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ACC
The correction that began on May 8 proved to be short-lived. But the up-move last week was equally tentative leading to the assumption that the stock is in a shallow medium-term corrective phase. Since one zigzag move is complete from the trough ...
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Rumours take wing
Speculation on who could be the potential investor in the proposed fund-raising exercise by Deccan Aviation resurfaced, triggering an uptrend in stock price. The stock has also been included for trading in the F and O ...
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ONGC
ONGC made an attempt to move higher last week but it under-performed in the rest of the markets. The harami pattern on the weekly candlestick chart is inconclusive. The short-term down trend that began from Rs 970 continues to hold sway. A close ...
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Bajaj Auto kickstarts demerger
An unexpected structure for the de-merger, uncertainties about the valuation of the insurance business and a sedate outlook for the two-wheeler business have combined to put severe pressure on the Bajaj Auto stock price after it unveiled its ...
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What's ahead
Investors in Suzlon Energy should watch closely the company's moves on its takeover bid for REpower ahead of May 24, the cut-off date for both Areva and Suzlon to submit bids for REpower. Alfa Laval's ongoing open offer is ...
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Trader's Corner
The first tenet of technical analysis is that price patterns repeat themselves. The reason why stock price movements display recurring patterns is because stock markets worldwide are driven by men. The basic needs and emotions of men have not ...
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Tech Tools
I bought Rolta at Rs 87, when I spotted a long term Symmetrical Triangle breakout. It now has broken out of a long term (11 months) upward rising channel at Rs 425, giving a massive target. I also have Prakash Industries that was bought at ...
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RECOMMENDATION
Sanghvi Movers: Buy
Investors with a one to two-year perspective can consider taking an exposure in Sanghvi Movers, one of the largest crane-hiring companies in India. At current market price, the stock trades at about 12 times its likely FY08 earnings per share. ...
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Birla Sun Life Equity Fund: Invest
The fund's flexi-cap mandate saves investors the trouble of switching allocations between large-cap and mid-cap funds on an ongoing basis.
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Fidelity Tax Advantage Fund: Hold
Unitholders of Fidelity Tax Advantage Fund can retain their investments. The fund's performance since inception appears encouraging. Fidelity Tax Advantage has also outperformed tax saving funds such as Sundaram Taxsaver and HDFC Taxsaver over ...
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Britannia Industries: Book profits
Though the company's earnings may recover from the current slump, the recent run-up in stock price appears to capture the best-case scenario.
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Hindustan Construction: Sell
The performance over the next couple of years may provide direction for fresh investments later.
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Alfa Laval: Reject
Business prospects are bright and investors may benefit by staying on.
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IPOS
Nitin IPO subscribed 48.48 times
The initial public offering of Nitin Fire Protection Industries was subscribed 48.48 times on the BSE and NSE at 6.00 p.m. Bids were received across the price band of Rs 171-Rs 190. A total of 16,43,39,805 bids were received ...
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OUTLOOK
Index Outook
The big boys in the banking sector, State Bank of India and ICICI Bank, took the onus of pulling Sensex out of the quagmire in to which it was sinking. The blistering rally of over 10 per cent in these two stocks helped Sensex close above the ...
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Market View
The market looks healthy, trading in the range of 12500-13000-plus levels as recovery continues. Corporate earnings are strong. The fact that India has under-performed the EMs (emerging markets) may suggest that some catching up ...
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