STOCKS

STOCK MARKETS

Positive outlook for Nifty
Preferred View: The market action was in line with expectations. The Nifty ruled weak initially and staged a recovery right at the support zone of 2790-2800 that was mentioned last week. After hitting a low of 2783, the trend turned ... More

Focus of the week
Nava Bharat Ferro Alloys (Rs 46.2): The share price was in a major uptrend that was completed at the high of Rs 91 in March 2005. The stock has been in a corrective phase. This corrective phase appears complete at the recent low of Rs 42. ... More

Upward trend likely in Reliance
Reliance Ind (Rs 704): The scheme of demerger took effect from Wednesday. The near-term outlook appears positive. A move to Rs 735-Rs 740 appears likely. The positive outlook would be negated on a close below Rs 685. Remain invested with a ... More

Portfolio Manager
Any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of ... More

Options guide
Call option: A call option gives the buyer `the right but not the obligation' to buy the stock at a specified price on a future date. Put option: A put option gives the buyer `the right but not the obligation' to sell a stock ... More

REGULATORY BODIES & RULINGS

Revised position limits on stock-based derivatives from Jan 27
FOREIGN institutional investors, mutual funds and other trading members can take higher position limits for stock-based derivatives from January 27. In a circular to the stock exchanges, FIIs and mutual funds, the Securities and Exchange Board ... More

RECOMMENDATION

Entertainment Network — Music to investors' ears
OUR recommendation for Entertainment Network is underpinned by the following factors: Benevolent policy framework: Radio Mirchi will now operate in a policy environment that is friendlier to private sector players in FM radio. The new ... More

Entertainment Network: Invest at cut-off
INVESTORS should bid for shares in Entertainment Network (India) Ltd, which owns and operates radio networks under the popular Radio Mirchi brand, as it is likely to be the premier listed play in the FM radio space for some years to come. The ... More

Jagran Prakashan: Avoid
The offer appears stiffly priced, even if we factor in the quantum rise in earnings this year. FIIs will be able to buy only up to 5 per cent of the company's equity as that would exhaust the permitted limit of 26 per cent. This could also cap the va luation of the stock. Given the political sensitivity of the FDI-in-print issue, we do not expect the limit to be raised in a hurry. More

Ceat: Invest
SHAREHOLDERS can sell their holdings in the secondary market and subscribe to the rights offer. To cater to the long-term working capital requirements, automotive tyre major, Ceat, is raising Rs 52.7 crore through a rights offer in the ratio of ... More

Pantaloon Retail: Invest
OFFERED at a discount of more than 60 per cent to the current market price of about Rs 1,600, Pantaloon Retail's rights issue provides shareholders the perfect opportunity to reduce their average cost of acquisition. With the offer proceeds, the ... More

Gujarat State Petronet: Invest
THE IPO of Gujarat State Petronet Ltd (GSPL) can be considered for investment with a two/three-year perspective. The returns on the investment being made by the company now in expanding its pipeline network will begin to be felt only from the ... More

Agro Dutch Industries: Invest
INVESTORS can subscribe to the rights offer from Agro Dutch Industries at Rs 25. The pricing is reasonable and may leave scope for capital appreciation over the next one-to-two years. The scaling up of capacities proposed in this project ... More

Tata Infrastructure Fund: Hold
INVESTORS can retain their holdings in the Tata Infrastructure Fund(NAV Rs.16.2). Fresh exposures to the fund can be avoided for now, as the fund is yet to notch up a track record, having been launched just a year ago. ... More

JMT Auto: Reject
SHAREHOLDERS can reject the open offer made by Bach and ChrysCapital for the shares of JMT Auto. The offer price at Rs 100 is unattractive as it is way below the market price of Rs 140. The former is at 13 times trailing 12-month per share ... More

Dolphin Medical Services: Avoid
INVESTORS can give the rights issue of Dolphin Medical Services the skip. Though the issue is priced at a discount of close to 50 per cent compared to the stock's current market price, the manifold expansion in equity, competition in the ... More

Priyadarshini Spinning: Avoid
SHAREHOLDERS need not subscribe to the rights offer of Priyadarshini Spinning Mills (PSML). The offer price of Rs 25 is at a modest discount to the current market price. At this price, the offer is valued at about eight times its annualised per ... More

SPOTLIGHT
UTI Money Market Fund: Invest
REDEMPTIONS of India Millennium Deposits have taken out close to Rs 32,000 crore from the financial system. Supply and demand for money is finely balanced. Interest rates could go up sharply from present levels or stay ... More

IPOS