The Hindu Business Line : Sunday, October 16, 2005

In a long bull market — The misses that became hits
ABAN Loyd Chiles, Balkrishna Industries, Bharat Bijlee, Gammon India, GMM Pfaudler, Manugraph Industries, McDowell, Mercator Lines, Sintex Industries and Vimta Labs: This portfolio would have been a 20-bagger had ... More

Towards sustainable stock market liquidity
Given the superior performance of equities over other asset classes over long periods of over ten years, domestic investors have no choice but to step up their exposures to stocks. Over the years, if they increase their allocation to equities, domest ic mutual funds and insurance companies will become bigger investors than FIIs. More

Reliance Industries: The mechanics of the demerger
SHAREHOLDERS of Reliance Industries will meet later this week, on Friday, to discuss and vote on the Scheme of Arrangement for Demerger proposed as per the settlement arrived at between the Ambani brothers in June. The ... More

COURTS/LEGAL ISSUES

Four deposits after a fatality
JULY 5, 2002: Satheesh Kumar was riding a Hero Honda motorcycle. A bus of TNSTC Ltd hit the bike, causing serious injuries to Satheesh. He was taken to the Medical College Hospital, Thiruvananthapuram, where he died. His widow, children and ... More

MUTUAL FUNDS

Sundaram Select Focus: Sell
UNITHOLDERS of Sundaram Select Focus can exit as there are comparable funds with a better track record. Launched in July 2002, the fund aimed at focusing on only a select number of stocks. Typically, this would mean that the top ten stocks ... More

HDFC Core & Satellite Fund: Buy
AN investment may be considered in HDFC Core & Satellite Fund, as it appears to have the potential to maintain its impressive performance and a portfolio tilt that could stand in good stead in a choppy market. After a sluggish start, the ... More

Canbank MF launches new scheme

Canbank Mutual has launched a new fund — Caninfrastructure. The fund offers a Dividend and a Growth option. The minimum investment is Rs 5,000. The benchmark for this fund will be BSE 100. The new fund offer will be open for ... More

STOCKS

Tata Investment Corporation: Buy
The stock is trading at a significant discount to its intrinsic value. This discount offers considerable downside protection to investors. This is valuable considering the excessive volatility in stock prices. Investors can also consider putting ... More

TCS: Buy
AS THE demand environment for offshoring continues to be buoyant, we remain bullish on the growth prospects of Tata Consultancy Services in the second half of FY2006. The company's success in bagging two $250-million ... More

Infosys: Buy
A ROBUST double-digit revenue and earnings performance for the second quarter has strengthened the fundamentals of Infosys Technologies and set the stage for an improvement of its valuation. Based on the revised ... More

Pfizer: Hold
COME rain or shine, the focus at Pfizer appears to be on delivering results. That is the impression one gets looking at the company's earnings card for the quarter-ended August 2005. In a quarter that saw Mumbai being ... More

MICO: Buy
LONG-TERM investors may include Motor Industries Company (MICO) in their portfolio. The encouraging growth prospects and the rising contribution from exports are major positives. Though the profitability in the near ... More

Alok Industries: Hold
SHAREHOLDERS can retain their holdings of the Alok Industries stock. A buoyant export market, new capacities that would go on stream over the next couple of months and a greater contribution from high-margin products ... More

TECHNICAL ANALYSIS

Further weakness likely in Nifty
Preferred view: The market sentiment remained bearish during the week gone by. As anticipated, the index turned weak after registering a brief rally towards the resistance level of 2610-2620. The index touched a high of 2592 on ... More

Tata Steel in oversold zone
Tata Steel (Rs 379): The breach of the negative trigger level at Rs 390 resulted in a drop to the target zone of the Rs 375-380 range. The stock has now been pushed to extreme oversold zone and a relief rally may be just round the corner. ... More

Focus of the week
Arvind Mills (Rs 126): The stock is in a major downward corrective phase since December 2004. As a result, it has underperformed the market indices, as well as others in the industry. The outlook is bearish, as the corrective phase does ... More

Query corner
Kindly advise on the prospects of SB&T International bought at Rs 101. — K. Rajmohan SB&T International (Rs 76): After touching a high of Rs 135 in April, the stock has been on a major downward corrective phase. A ... More

TYRES

Bridgestone's festival offer
Bridgestone has come out with a special offer for the festival season. On purchases of four tyres, customers are entitled to participate in a draw. Gifts range from Tanishq vouchers to Fasttrack sunglasses from Titan. The offer is valid until ... More

CARS

GM may drive into the compact space with Aveo
GENERAL Motors has not exactly had a dream run in the Indian market, if we were to compare the small market share that this global automotive leader enjoys here compared to the inroads other brands, such as Hyundai and Tata, have made in the last ... More

WHEELS N' DEALS
Turbo-charged Indica V2
TATA Motors has rolled out Indica V2 Turbo Diesel in the domestic market. The DLG and DLX versions are priced at Rs 4.1 lakh and Rs 4.3 lakh respectively. The Indica V2 turbo Diesel generates 68 PS at 4500 rpm. The new model comes in four colours ... More

Mindset of the car buyer
A recent study by J. D. Power and Associates' on the Indian customer states that 38 per cent of new-vehicle buyers consider more than one model while purchasing a vehicle. The study states that this shopping attitude is prevalent more among ... More

New City
Honda has launched an upgraded version of its sedan — City. It also plans to roll out its luxury sedan Civic next year. The upgraded version christened City ZX would be available in four variants, with prices ranging between Rs 6.71 lakh ... More

Tata Motors indicates price hike
Tata Motors is close to raising prices of its cars. Citing higher raw material costs over the past two years, the company has termed a price hike inevitable. Maruti and Hyundai raised prices over the past ... More

STOCK MARKETS

Traders vs investors
ARE you a trader or an investor? Most are of the opinion that those who buy a stock based on fundamentals and hold it for more than a year are investors. And those who buy the stock based on technical analysis are traders. There appears to be a ... More

Public announcement in takeovers
A public announcement is one made in newspapers by the acquirer primarily disclosing his intention to acquire shares of the target company from existing shareholders by means of an open offer. What are the disclosures required to be made ... More

DERIVATIVES MARKETS

Options guide

FIXED DEPOSITS

Fenner India: Park your funds in one-year option
Fenner India: An investment may be considered in the one-year option of Fenner (India). The rates on offer for the two- and three-year options are not attractive; the rate for the latter does not offer any premium for longer maturity. The ... More

INTERVIEW

`We will continue with the dividend policy' — Mr Sanjay Sinha, Fund Manager, UTI Mutual Fund
Mastershare's objective is to identify stocks that have a fair chance of appreciating within a year so that we can book profits and distribute dividends every year. More

INCOME TAX

Getting around the housing loan
I PLAN to construct a house in the city I work in. I propose to let out this property on rent. I will, however, continue to stay in a property which is owned by my mother. Will I then be able to claim deduction under Section 80C and Section 24 on ... More

Assessing the AO
I AM a civil contractor and I have offered 12 per cent of my gross receipts as the income of such business. This I have offered under Section 44AD of the Act. The Assessing Officer has selected this case for scrutiny by issue of a notice under ... More

IPOS

K. M. Sugar: Avoid
INVESTORS who are risk-averse can avoid the initial public offer of K. M. Sugar Mills. Though the asking price is modest, the company's financial performance record is not consistent and there are superior investment ... More

Gujarat Industries Power Company: Avoid
INVESTORS can stay away from the book-built public offer of Gujarat Industries Power Company offered in the Rs 63-75 price band. The stock trades at Rs 78 and appears to be fully priced at current levels. Lack of ... More

OPEN OFFERS

i-flex solutions: Reject
SHAREHOLDERS of i-flex solutions may avoid tendering to the open offer being made by Oracle Corporation to acquire an additional 20 per cent equity stake in the company. The open offer price of Rs 882.62 works out to ... More

AIRLINES

Bargain airfares: Spoilt for choice
FINDING the lowest airfare if you wanted to fly between Indian cities was certainly simple back when there were just a couple of big airlines and standard fares. Travelling from Mumbai to Bangalore, meant calling your travel agent and choosing ... More

BOOKS

Rules for getting rich slowly
FINANCIAL concerns cause a great deal of anxiety, but worrying about them takes far more energy than just going ahead and taking care of them, writes Diane McCurdy in "How Much is Enough?" from Wiley (www. wiley. com). The book is about ... More

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