Business Daily from THE HINDU group of publications
Sunday, February 17, 2008
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Markets (Feb. 15)
BSE Sensex18115.25 (+348.62)
S&P CNX Nifty5302.90 (+100.90)
US Dollar39.69 (+0.05)


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MARKETS

INVESTMENTS
CALL CENTRE
Benefit from the bond market
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Money Talk
Mr Ashok Krishnan has over 15 years experience in technology, management, consulting and entrepreneurship. After spending 14 years in the US in the consulting field, Mr Krishnan returned to India in 2007, where he assumed the ... More

DIVIDEND ANNOUNCEMENT
Update
UTI Asset Management Company has declared a dividend of 8 per cent under the dividend option of UTI-SPrEAD Fund. The record date for the same is February 19.Kotak Mutual Fund has launched a 14 months ... More

MUTUAL FUNDS
ICICI Prudential Emerging Star — Adding to textiles, finance
ICICI Prudential Emerging STAR is a three-year-old, mid-cap focussed fund, but with a diversified basket of sectors and stocks. Although on a three-year CAGR basis, the fund has outperformed its benchmark Nifty Junior, its performance over the ... More

Fund Talk
I hold the following funds: HDFC TOP 200, HDFC Long Term Advantage, HDFC Capital Builder, Birla Equity plan, Franklin India Prima, Franklin India Smaller Companies, Magnum Balanced and UTI Energy fund. I have SIPs running of Rs ... More

STOCKS
Query Corner
I hold shares of Fortis Healthcare bought at Rs 75. Please tell me the future prospects of this company and advise whether I should hold or sell. M. VimalaFortis Healthcare (Rs 72): ... More

STOCK MARKETS
Derivatives: Changing the rules for better participation
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Reliance
The stock moved down to our first target at Rs 2,230 before staging a recovery last week. The fact that the 200-day moving average line went unchallenged last week is a positive. But the medium term trend in the stock continues to be down. ... More

SBI
SBI too underwent a seesaw movement last week; first plunging to our short-term support at Rs 2,015 and then regaining all the losses to close with more than 100 points gain for the week. The stock appears to have launched in to the third part ... More

Tata Steel
Tata Steel moved lower last week in line with our expectation. But the reversal above Rs 700 denotes that the B wave that began at the trough at Rs 557 could be extending. The momentum indicators in the weekly chart continue to point ... More

Infosys
Infosys Technologies moved within an extremely narrow band last week resulting in a doji formation in the weekly chart, denoting status quo. The near-term trend for the stock is up since the January 22 trough. Extension of ... More

Bharti Airtel
This stock too did nothing last week; meandering sideways in a narrow band. The near-term outlook for Bharti Airtel remains weak as it is moving sideways below its long-term averages. The stock can move lower to Rs 790 next week. ... More

Satyam Computers
Satyam Computers stayed within the range between Rs 390 and Rs 440 for most part of last week; as anticipated. The stock is struggling to move past the resistance band between Rs 440 and Rs 450. A move beyond is required to turn the ... More

Prominent bulk deals on NSE & BSE
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FOREIGN INSTITUTIONAL INVESTORS
Powerful combo
FIM (managed by Farallon Capital Management) and LNM India Internet Ventures (on behalf of Mr L. N. Mittal and family) have agreed to invest an aggregate of Rs 1,580 crore in Sophia Power Company, a 100 per cent subsidiary of Indiabulls Real ... More

MERGERS & ACQUISITIONS
Attracting NYSE
Financial Technologies has announced that NYSE Euronext, the world’s leading and most diverse financial market group, has signed a binding term sheet to acquire a 5 per cent equity position in the Multi Commodity Exchange (MCX). ... More

RECOMMENDATION
IVRCL Infrastructures: BUY
Investors with at least a two-year horizon can consider exposure to the stock of IVRCL Infrastructures & Projects. Accelerated growth in revenues on the back of faster execution of projects, strong order book and the expanding Government ... More

Blue Star: Buy
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HUL: Hold
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Tata Select Equity Fund: Hold
Investors can retain their holdings in Tata Select Equity Fund based on its long-term track record. As the market is in the midst of a highly volatile phase, large-cap rather than mid-cap-based funds may be the more suitable option for ... More

Dishman Pharma: Buy
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REC: Invest at cut-off
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HSBC Equity: Invest
Investors seeking exposure to large-cap stocks can consider investing in HSBC Equity. The fund has built a strong track record over the last five years, when bulls have ruled the roost. HSBC Equity has delivered an annualised return of 55 per ... More

IPOS
Will IPOs power on?
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OUTLOOK
Top-of-the-mind strategy factors
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Index Outlook
The Reliance Power stock slipping into a discount on listing assumed apocalyptic significance on Monday. The Sensex was down 1000 points at one point on that day. But sanity returned and markets stabilised to stage a recovery towards the ... More

‘Indian equities not in a bear market yet’
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Market View
With continued ability to grow earnings at 20 per cent year-on-year, the market remains resilient to significant falls from these levels. Currently trading at close to 18x, we expect the floor to the market (Nifty) to be around 4600 (15x FY09 ... More

What’s ahead?
With foreign institutional investors (FIIs) having sold off shares worth $3.6 billion from Indian equity markets in 2008 already, investors should keep a close watch on global indices. FIIs had put in $17.2 billion in the 12 months of 2007. ... More

ECONOMIC OFFENCES
SEBI team to oversee pending proceedings with NSDL
The Securities and Exchange Board of India’s on-going proceedings against the National Securities Depository Ltd(NSDL), the country’s premier depository, over the IPO scam investigations of 2006 would now be overseen by a ... More






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