The Hindu Business Line : Sunday, April 03, 2005

Open offer for ACC: Accept; Buy at lower levels
HOLCIM of Switzerland — the world's second largest cement producer — is set to make a splash as it enters the Indian market. By making ACC the focal point of its strategy, it will become one of three ... More

Oil refining sector: Implications of Aramco's interest
THREE decades after the last of the oil multinational was forced to leave the country, the doors are once again being thrown open to foreign investment in the refining sector. Discussions are on for Saudi Arabia's ... More

Growth stocks: Steroids for the portfolio
Given that India is still a developing economy, the need for including growth stocks in your portfolio can hardly be overemphasised. While they may no longer fetch the fancy returns of the last decade or so, you can still earn over 20 per cent a year from them. More

MUTUAL FUNDS

SPOTLIGHT

Franklin India Dynamic PE Ratio Fund: Hold
INVESTORS in the scheme of Franklin India Dynamic PE Ratio fund can continue to stay invested. The fund's performance is impressive; it has delivered higher returns than what you would have earned if 75 per cent of your ... More

Alliance Capital Tax Relief: Sell
AFTER notching up an impressive performance until 2003, the performance of Alliance Capital Tax Relief has slipped sharply in the recent times. Not only does the fund's one-year return trail its peers by a significant ... More

FUND TALK
SIP is best when you're in for the long haul
For the systematic investing strategy to succeed, you need to stay invested through a complete boom-bust phase in the market. More

Mutual Funds on dividend spree

JM Financial Mutual Fund has declared dividend of 45 per cent or Rs 4.50 per unit on JM Equity Fund and 25 per cent or Rs 2.5 per unit on JM Balanced Fund. The record date for both is March 29.

BOB Mutual has declared a dividend of ... More

STOCKS

Greaves Cotton: Buy
AN investment may be considered in the stock of Greaves Cotton, as growth prospects appear bright. Buy with a one-to-two year perspective. The effects of restructuring of its businesses and debt, launch of new variants in engines/gensets, ... More

Aarti Industries: Hold
SHAREHOLDERS can retain their holdings in the stock of Aarti Industries, which trades at a price-earnings multiple of close to nine times its trailing 12-month earnings. Though the company's margins have been under ... More

Phillips Carbon: Buy
INVESTORS can consider exposure in the Phillips Carbon stock at the prevailing levels for the long term. Though the company's financial performance in recent quarters has not been too inspiring, with capacity expansion ... More

TECHNICAL ANALYSIS

Short-term outlook turns bullish
Preferred View: The Nifty moved in line with expectations. After a short-term pull back on Monday, the index recorded a sharp slide on Tuesday. In the process, the Nifty moved closer to the target zone of 1955-1958 that was mentioned ... More

Upside ahead of downward trend in Reliance
Reliance Ind (Rs 564.4): The stock managed to hold above the crucial stop-loss level of Rs 539. After a weak trend in the early part of the week, the stock staged a sharp recovery on Friday. The short-term trend appears positive and a move ... More

Focus of the week
Chennai Petroleum (Rs 229.55): After an upward move that lasted till October, the stock has been on an extended period of correction. This phase would fit as an enlarged "bull flag" pattern. The share price moved out of this range on ... More

Query corner

CARS

`Aura' of alloy
HINDALCO Industries recently launched a new set of exclusive 14-inch alloy wheels under its `Aura' brand for use in high-end luxury cars such as the Chevrolet Optra, the new Honda City and the Tata Indigo. The new ... More

Old world charm
I am fascinated by the new HM Ambassador 1800 ISZ petrol model. Though there are new models from various new car companies, I still want to own the Amby. My monthly average commute is about 500 km and almost all of it within Hyderabad city ... More

Simply simulating
BIG retail chains have spelt the doom of the family-owned, street-corner grocer in several countries in the West. We are getting there too, with the kind of rapid growth that departmental stores and retail chains have ... More

TWO/THREE WHEELERS

Super Splendor — Big on economy, frugal on style
WHEN Hero Honda decides to put on the war paint, the battle tends to become one-sided. At least that is how it has been so far. But after launching its CD-Dawn in the entry-level bike segment in 2002, the country's ... More

ECONOMICS

The `random' conundrum
HOW will the stock market move on April 4, having closed higher on April 1? Some contend that forecasting market behaviour is not possible because it is a random process. But what is randomness? A coin toss is an ... More

STOCK MARKETS

What is in store for key sectors
FURTHER improvements are expected in the productivity of Corporate India and relative competitiveness over global peers, which will help sustain the current trend and valuations over the long term. However, one ... More

DERIVATIVES MARKETS

Calendar spread and margins in SPAN
THE objective of SPAN is to identify overall risk in a portfolio of futures and options contracts for each member. The system treats futures and options contracts uniformly, while at the same time recognising the unique exposures associated ... More

Volatile condition may continue in Nifty
TRADING was robust in the derivative segment last week with the settlement of March contracts. The average daily turnover on the NSE in the F&O segment increased to Rs 15,324 crore against the previous week figure of Rs 13,096 crore. ... More

Options guide

Futures guide

FIXED DEPOSITS

FD options
Repco Bank: Investments in the fixed deposits of Repco Bank can be considered. The bank offers 6.75 per cent for one- to three-year deposits and 7.50 per cent for deposits above three years. The higher rate compared to that ... More

INTERVIEW

`No pot of gold, post quotas' — Mr Anees Noorani, Vice-Chairman and MD, Zodiac Clothing
Retailing in India is going to converge with retailing of the rest of the world. The ability of the consumer to spend his disposable income is growing. He is more conscious of international fashion. International tastes have converged because of cro ss-border media, foreign travel. All this is going to make ours the fastest growing market . More

INCOME TAX

What's new in the perk package
WHAT are the changes made in the Income-Tax Rules with regard to the valuation of perquisites? Anonymous Reply Rule 3 of the I-T Rules has been amended. This amendment will take effect from April 1, 2005. ... More

Second loan in second metro

IPOS

Shringar Cinemas: Invest at Rs 53
AN INVESTMENT can be considered at the upper end of the price band in the initial public offering of Shringar Cinemas. Investors would have to buy the stock with a two/three-year perspective as the benefits of the ... More

Saksoft: Invest
INVESTMENTS can be considered in the initial public offering (IPO) of Saksoft as the offer price of Rs 30 is attractive for retail investors. At this price, the stock trades at a price-earnings multiple of five times ... More

Gokaldas Exports: Invest at cutoff
THOSE who seek an exposure to the garment sector, a main beneficiary of the post-quota regime, can consider subscribing to the initial public offering of Gokaldas Exports. The company is one of the larger players in ... More

RIGHTS ISSUES

ING Vysya Bank: Invest
SHAREHOLDERS of ING Vysya Bank should subscribe to the rights offer. The three shares for every share held offer is being made at a substantial discount to the market price. As such, any failure to subscribe would lead ... More

BOOKS

Five steps to financial freedom
CO-AUTHOR of The One Minute Millionaire Mark Victor Hansen writes in the foreword to Diane Kennedy's new book that there are two parts to making a lot of money. "The first is earning it and the other is ... More

CARTOON