Business Daily from THE HINDU group of publications
Sunday, August 19, 2007
ePaper
Markets (August 17)
BSE Sensex14141.52 (-216.69)
S&P CNX Nifty4108.05 (-70.55)
US Dollar (Buy/Sell)41.34 (-0.01)


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FINANCIAL SERVICES
Rs 1 lakh cr locked in frozen demat accounts
Mumbai, Aug 18 Shares worth over Rs 1,00,257 crore remain locked with 10,76,431 demat accounts being frozen for not having the mandatory Permanent Account Numbers (PAN) to trade in the stock markets. This was stated by the Union ... More

INVESTMENTS
Learning from global corrections
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Money Talk
Alok Kejriwal, 38, is a media entrepreneur having founded the contests2win.com group in India in 1998. This was among the first Web sites for contests and remains one of the most popular web properties in India. The ... More

Investment Nuggets

The Wall Street has few women who have enjoyed the reputation and sheer clout that Elaine Garzarelli has over the years. She gained fame while an analyst at Shearson by predicting “The Black Monday” in 1987 that ... More

MUTUAL FUNDS
‘Underweight on India due to valuation concerns’
Mr Jonathan Garner, Head of Emerging Market Strategy at Morgan Stanley, remains positive on the fundamentals of emerging markets. Valuations are now looking better as they are below their five-year averages and he expects valuations to ... More

Actuarial-funded ULIPs to be phased out
The Insurance Regulatory and Development Authority (IRDA) has decided to phase out actuarial-funded products in the Unit Linked Insurance Product (ULIP) segment.In a release issued here on Saturday, IRDA said though technically there ... More

Tata Infrastructure Fund: The right growth mix
With the economy growing at a fast pace over the past few years, the Government has laid emphasis on infrastructure development. Spending on infrastructure may be the key to sustaining this growth momentum. This, in turn, is likely to ... More

Update
Lotus India AMC has launched an open-ended diversified equity scheme called Lotus India Equity Fund. The fund will invest 70-100 per cent in equity and 0-30 per cent in debt and money market instruments.Maximum exposure to ... More

STOCKS
FIIs turn cautious in March-June
Foreign institutional investors (FIIs) appear to have turned a mite cautious on Indian stocks during March-June 2007, after having gradually pegged up their stakes in the preceding year. Shareholding patterns of Indian companies for the latest ... More

STOCK MARKETS
Rebound hopes rise as Fed acts to contain sub-prime crisis
Indian stocks may react positively in the short term, say analysts More

All India needs to do now is to invest, invest and invest
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Integration may be a cushion against stock market declines
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Query Corner
I am holding shares of ILFS Investment Managers bought at Rs 180. Please let me know the prospect of this stock. K. AnandavalliIL&FS Investment Managers (Rs 164): This stock is facing resistance from the zone ... More

SBI
The bearish engulfing candle in the weekly chart following the grave stone doji does not bode well for SBI. The stock achieved our short-term target of Rs 1,470 last week and is currently halting just above the 50-day moving ... More

Reliance
It was a resilient show by RIL with a mild 3 per cent fall. Weekly indicators and chart patterns denote that the intermediate-term outlook continues to be positive. The only concern is the close below the 50-day moving average. The immediate ... More

Tata Steel
Tata Steel has been bludgeoned out of shape last week. The ferocious third wave from July peak has dragged the stock below our medium-term target of Rs 563. The immediate support for the stock lies in the band between Rs 525 and Rs 535. The ... More

Infosys
After successfully defending the Rs 1,900 bastion since March, Infosys at last yielded some ground. Though the stock touched a low of Rs 1,745 on Friday, it rebounded to close with a mild 5 per cent loss for the week. The ... More

Bharti Airtel
The sharp fall in Bharti Airtel towards the end of last week made it test our outermost target at Rs 750. The stock has bounced from its 200 DMA and has also completed the minimum retracement of the up-move since June 2006. The ... More

ONGC
ONGC plunged towards our medium-term target to make an intra-week low of Rs 770. The immediate support for the stock is at Rs 743. If this level is breached, there can be a sharp fall down to Rs 675 or Rs 620. Weekly charts indicate ... More

Prominent bulk deals on NSE & BSE
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Trader's Corner
The stock markets have an undeniable influence on the thoughts of the men/women related to it. Traders and full-time investors can think of little else in their waking moments, and in their sleep too. The fascination that the bourses hold for ... More

RECOMMENDATION
Reliance Diversified Power Sector: Invest
More

Motilal Oswal Financial Services: Invest at cut-off
More

Indowind Energy : Avoid
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Bharti Airtel: Buy
The sharp decline in the broad markets over the past week offers a good opportunity to take exposures to the stock of Bharti Airtel – the market leader in the Indian mobile telephony market. Strong subscriber additions, substantial ... More

Power Finance Corporation: Buy
More

CMC: Hold
More

HDFC Growth Fund: Hold
HDFC Growth Fund, a diversified equity fund, has registered an improvement in performance over the past two years, after an unimpressive show until 2005. The fund’s three and five-year track records show that it has substantially ... More

OUTLOOK
Index Outlook
It was a nightmarish week in which the global equity markets plunged in to an abyss even as the Central Banks worked overtime to assuage the investors' sentiment and maintain financial stability. We have the mid-week holiday to thank for the ... More

FUND COMMENT
Sub-prime impact on equity markets
At the global level, especially in advanced markets such as US, UK, France, Germany and Japan, to name a few, the linkages between markets are strong. Pricing and participant linkages are strong. As interest rates have risen and sub-prime has ... More

FUND VIEW
On market turbulence and its genesis
The easy liquidity policy — with US Fed rates touching 40-plus year lows about four years ago has led to a steep rise in property prices in the US markets. In several regions, prices were reckoned to be akin to bubble-like territory even ... More

What’s ahead
With the US sub-prime crisis snowballing into concerns about a global liquidity squeeze, the Sensex tracked its Asian peers losing nearly 5 per cent on the week. Global cues will continue to be key next week. If the Japanese yen ... More






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