The Hindu Business Line : Sunday, April 30, 2006

Vaibhav Gems: Reject
Like most other listed players, Vaibhav Gems too has over a period integrated vertically from an exporter of gems to an exporter and retailer of jewellery. More

Indo Rama Textiles: Accept
Spentex will be well placed to make the investments in IRTL to take the business forward. It might consider merging with IRTL, a risk to shareholders not tendering their stake. More

INSIGHT

Another decisive phase in market
Market analysts have been befuddled by the strength and depth of the market rally in a period of extreme volatility. More

Split and run, or bag a bonus and wait
There is much hair-splitting on the relative benefits of a bonus issue vis-à-vis a share split. An investor with a short-term outlook may benefit by a split, while one willing to wait may prefer a bonus issue. More

MUTUAL FUNDS

HDFC Equity Fund: Invest
The relentless bullish phase in engineering stocks has been largely responsible for the fund's good performance. More

Kotak launches Twin Advantage Fund
Kotak Mutual has launched Kotak Twin Advantage Fund (Series II). This is a close-end debt fund, which will invest between 75 and 100 per cent in debt and money market securities. It has the flexibility to deploy up to 25 per cent in ... More

Sundaram CAPEX Opportunities: Hold
Investors can retain their holdings in Sundaram CAPEX Opportunities. The fund has performed impressively and returned 64 per cent since its launch in September 2005. This is higher than returns registered by most diversified equity funds over the ... More

UTI Brand Value: Hold
Unitholders can retain their holdings in UTI Brand Value. The fund's performance has picked up since 2005, on the back of the boom in consumerism. Its diffused sector approach, however, makes it an inappropriate choice for those who wish to ride ... More

PORTFOLIO MOVES
Kotak Contra: Value-based investing
Fundamentally sound stocks with brief periods of under-valuation in the equity market provide attractive investment opportunities for funds with a contrarian approach. Kotak Contra, with its bottom-up investment approach has added some stocks to ... More

Fund Talk
I am a retired person of age 66. My asset allocation is as follows: Shares - 13 per cent, equity mutual funds - 22 per cent, monthly income plans (MIP) — 45 per cent and Post Office MIS & Senior Citizen Scheme - 20 per cent. ... More

STOCKS

Taj GVK: Buy
An investment can be considered in the stock of Taj GVK. FY06 has been yet another splendid year for the hotel industry and the company has surpassed expectations by more than doubling its profits. The stock now trades at 33 times the FY06 ... More

Financial Technologies: Buy
Association with exchanges such as MCX and DCGX would ensure stable business flow in terms of regular technology upgradation required by the exchanges to manage growing volumes. More

Murudeshwar Ceramics: Buy
While increased competition from unorganised and foreign players will be a looming threat, expected surge in volumes and cost rationalisation are likely to drive earnings growth. More

MRF: Buy
Long-term investors can consider exposure in the MRF stock. Strong fundamentals, improved performance and steady growth prospects are major positives. MRF is among the top tyre-producing companies in the country. It has a strong presence in ... More

Aventis Pharma: Buy
The Aventis stock has been a sterling performer over the past three years, and this is likely to be sustained by the strong parentage and focus on critical therapeutic areas. More

TECHNICAL ANALYSIS

Index Outlook
The recent price patterns have not, however, negated the long-term positive view. The Nifty appears to be on its way towards the initial target zone of 3620-3630. A close past 3630 would indicate that the index is headed towards the next ... More

Follow up
The price movement was in line with expectations. The stock ruled firm and also moved to the target zone of Rs 185-190 mentioned last week. The outlook for stock remains positive and a move to the next target zone of Rs 220-225 appears likely. ... More

SBI
The price action was in sync with expectations. A bearish trend prevailed and the stock dropped the target zone at Rs 840-850. There appears to be marginal downside risk from the prevailing levels. The stock is likely to seek support at Rs ... More

Reliance
The stock turned direction right at the support zone at Rs 940-950 mentioned last week. After touching a low of Rs 949, the stock staged a recovery on Tuesday. The long-term trend remains positive and the stock could move to Rs 1,150-1,200. The ... More

Tata Steel
Though there is a possibility of a drop to Rs 580-590 in the near-term, the long-term outlook remains positive. The stock could move to the long-term target zone of Rs 800-825. The positive outlook would be negated on a close below Rs 530. ... More

Satyam
A bearish trend prevailed as anticipated last week. The stock dropped way below the target zone of Rs 775-780 and touched a low of Rs 712 on Friday. There is a strong support at Rs.700-710. The long-term trend would remain positive as long as ... More

Infosys
The stock ruled weak and also dropped to the target zone of Rs 3,060-3,080 mentioned last week. The stock is perched quite close to the support zone at Rs 3,020-3,050. We expect the stock to seek support at this zone and stage a recovery ... More

Chart Focus
The stock has been in a major uptrend over the past few years. There are no signs of the completion of this upward move. After a brief correction in recent weeks, the stock appears to have commenced the next segment of the upward move. A rally to ... More

Query Corner
Is it advisable to buy Adlabs and IVRCL at prevailing levels? C. Sathish Kumaar, Muneer, Raghunath IVRCL (Rs 300): The long-term outlook is positive and the stock could move to Rs 340-350. There is a strong support at Rs ... More

Corporate Recap
In reply to the question on MRPL, you had mentioned last week that the stock in a "non-trending" phase. What does this phrase mean? Please also clarify how to identify the price band within which stocks can be said to be in a non-trending ... 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

CARS

Choose the Ford Fiesta
I am planning to buy a mid-size car in the Rs 6-8 lakh price band. The cars that I have in mind are the Ford Fiesta 1.6 SXI, the Chevrolet Aveo 1.6 LT and the Ford Fiesta 1.4 TDCi ZXI (Diesel). My priorities are mainly - running cost ... More

STOCK MARKETS

Halo effect
One my friends recently joined a brokerage firm. He was good at picking momentum stocks. His boss, however, forced him to concentrate on bringing in new clients. He failed to do so because of lack of experience in marketing. Some time later, a ... More

Bull's Eye
More

Baskets of 'X'
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

THE BIG DEAL

Cracking the whip
The extensive investigation into the IPO scam by the Securities and Exchange Board of India (SEBI) was always heading towards a tough crackdown. In a 252-page interim order, SEBI has barred 24 brokers "not to buy, sell or deal in the securities ... More

INTERVIEW

`We want to go after the large deals'
What will an overseas listing give us? Unless we want to create a float or a set of retail investors in the overseas markets, we see no reason. Today, offloading more in India is as good as anywhere else. — Mr. S. Ramadorai, Chief Executive Of ficer, TCS. More

INCOME TAX

Caught in a fix
From April to July 2005, I worked with one employer and from August 2005 onwards with my present employer. I have not claimed the benefit of exemption under Section 10(13A) in computing the tax to be deducted at source by my first employer. ... More

RIGHTS ISSUE

Mohit Industries: Invest
The expansion is at large scale and low utilisation levels post- expansion is a concern. The company is confident of operating at 80 per cent levels even after expansion. More

BOOKS