The Hindu Business Line : Sunday, March 12, 2006

Managing expectations is the challenge
Fund managers tell us that they are sitting on huge sums of money and facing a big challenge in finding good stocks at reasonable valuations. More

MUTUAL FUNDS

`We've narrowed in on a high growth universe'
We expect that the universe we have identified for this fund will grow at roughly thrice India's GDP, at about 24-25 per cent a year. More

Principal MF scheme to diversify global investments
To approach SEBI for investing in other listed entities More

FUND TALK
Will they lose their balance?
The Budget requires equity-oriented funds to have at least 65 per cent of their portfolio in stocks. How would this affect balanced funds such as Kotak Balance, HDFC Prudence and PruICICI Balanced Fund? I have invested in all three of them. ... More

PORTFOLIO MOVES
Reliance Equity Opportunities
In February 2006, 95 per cent of the assets of Reliance Equity Opportunities were invested in equity. We take a look at the reshuffling in the fund's portfolio after September 2005. The top 10 stocks accounted ... More

ING launches OptiMix Income Growth Fund

STOCK EXCHANGES

NYSE lists as NYX
Even for an institution with a rich history, the listing on the New York Stock Exchange of NYSE Group Inc's stock is a watershed. Yes, investors, who have for more than 200 years bought and sold shares of hundreds of companies, can now buy or ... More

FINANCIAL MARKETS

`We never learn from the past completely'
Inflation is deadly. It kills all financial markets, whether it is stock or bonds. I would watch inflation more than anything else. And I think we will see more global than local business cycles. More

`The reality is nobody has made money in China'
The advantage in being viewed as an `option' is that more uncertainty feeds into its value. In conventional budgeting, more uncertainty reduces value. — PROF ASWATH DAMODARAN More

STOCK MARKETS

Index outlook
The market action was marked by a high degree of volatility during the week. After a sharp rally on Monday, the trend turned bearish in the next couple of days. The trend reversed again with the indices recording a sharp rally on Friday. The ... More

Strategy
I am a long-term investor. I do not see the "stop-loss" for stock recommendations featured in the pages other than the `Market Watch' page. What is the strategy to be followed on those stock calls, as you have mentioned that one should never ... 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

Query Corner
What is the outlook for Orient Abrasive at Rs 35 and Finolex Industries bought at Rs 73? A. Shankar Rao & Narendra Bhatia Orient Abrasive (Rs 31): The near-term outlook appears positive and the stock could move to Rs 35-36. ... More

Chart focus
The stock has been on a major upward trend since the low of Rs 131 registered way back in May 2003. The subsequent price pattern neatly fits the parameters of the Elliott Wave theory. The stock appears to be headed towards Rs 575-580 in the ... More

Outlook is positive for SBI
The price action was in line with expectations. A bullish trend prevailed and the stock moved to the first target zone at Rs 920-930. The outlook remains bullish and a move to Rs 1,100-1,150 appears likely. The next short-term target is at Rs ... More

Trading tips
Never try to fight a trend by taking positions against the prevailing trend. Though it may be always tempting to buy a stock that is falling with an intention to lower the average cost of acquisition, such a practice should be ... More

Stock market contest winners

HUMAN RESOURCES

Sensex soars, pay packet grows
Financial sector salaries shooting up More

RECOMMENDATION

Dabur India: Buy
Investors can take exposure to the Dabur India stock to capitalise on the upturn in the FMCG sector. Consumer spending on FMCGs appears to be in the initial stages of a cyclical upswing that is likely to last several years. Dabur could report ... More

Raymond: Buy
Heavy investments in expanding facilities will reflect in Raymond's performance over the next couple of years. An attractive candidate for the portfolio from a long-term perspective, though returns could be moderate in the near term. More

Kilburn Engineering: Invest
The push given to the food processing industry in the Budget could keep up demand for the company's products. More

KEC International: Hold
Restructuring has created a pure play in power transmission. More

Ingersoll-Rand: Accept
Shareholders staying invested may not only be shooting in the dark but also missing out on other investment opportunities. More

Navin Fluorine: Sell
A buoyant trend in user industries has not translated into robust revenue growth for the company. More

Shree Renuka Sugars: Book profits
Good management and a sound business model make this a superior play in the sugar space. But valuations capture much of the likely growth potential. More

Adhunik Metalliks: Avoid
Steep valuation, absence of a favourable business outlook and high dependence on debt fail to add lustre to this IPO. More

Shivalik Global: Avoid
The expansion plans appear ambitious. Depreciation and expanded equity base are likely to act as dampeners on per share earnings. More

UTI Basic Industries: Hold
UTI Basic Industries has returned about 69 per cent over the past year and 50 per cent a year since launch. More

PUBLIC OFFER

Gangotri Textiles may hit market next month
Inks Rs 257-cr loan deal with FIs for expansion More

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