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STOCKS
Indian Hotels: Buy
An investment can be considered in the stock of Indian Hotels, which runs the Taj Group of Hotels and Resorts. At Rs 1,135, the stock trades at about 18 times its likely FY 07 consolidated per-share earnings. Valuation does not appear too ... More

Kirloskar Oil Engines: Buy
Business is on a strong footing with medium- and small-range engines fuelling growth. We believe the current market price does not adequately capture the value of the company's core business. More

Matrix Labs: Hold
With a slew of acquisitions, Matrix's business profile sports a far more diversified look now compared to its dependence on a single product three years ago More

TECHNICAL ANALYSIS
INDEX OUTLOOK
Sensex (10680)
The willful and capricious traits of the markets were to the fore once more last week. Just as the consensus was veering towards a sharp fall, there was a sharp reversal on Monday and the Sensex did not look back after that for the rest of the ... More

Positive trend in SBI
The price moved contrary to our expectation last week and we saw a return of momentum on this counter. The price has turned around from long-term support level of Rs 684. A morning star is evident on the weekly candlestick chart of SBI, which is ... More

Negative bias in Reliance
The price is currently struggling with its 50-day moving average positioned at Rs 990. Though it touched an intra-week high of Rs 1,015 on Thursday, the resistance level mentioned last week at Rs 1,044 remained untested. The negative bias for ... More

Tata Steel
The price bounced off its 200-day EMA yet again last week. The downward bias in this scrip continues, as the resistance at Rs 527 is not yet overcome. A move beyond Rs 527 will take the price to Rs 543 or Rs 572 in the short-term. A ... More

Infosys
The price bounced off the support of Rs 1,570 last week and moved in a narrow range as anticipated. The price is still stuck in the range between Rs 1,570 and Rs 1,720. A breakout beyond either boundary is required to establish a clear ... More

ONGC
The price reversed from our support of Rs 1,020 and rose to an intra-week high of Rs 1,200. The resistance at Rs 1,150 was decisively breached last week, a positive end to a long-drawn consolidation phase. The Rs 1,130-Rs 1,150 zone will ... More

Tata Motors
But a short-term uptrend has not been conclusively established as the price is struggling to get past the Rs 736 level mentioned last week. A rally beyond Rs 755 is required to make the short-term outlook positive again. The price can slip ... More

Question & Answer
Kindly express your outlook towards Bongaigaon Refineries purchased at Rs 50 and Xpro purchased at Rs 38. Amit A.Rao Bongaigaon Refinery (Rs 48): Long-term support for the stock exists at Rs 43. Hold with a stop at Rs 38 ... More

Pointers
The bulk of the first quarter results have been absorbed, discounted and drooled over. The progress of monsoons might attract the market's attention next week, now that the pre-occupation with results will be on the decline. The conflict in ... More

Tech Tools
Please explain how to calculate Alpha and Beta value of shares and where to get the data to calculate those. Also explain convergence, divergence and exponential moving averages and the significance of these indicators in identifying good ... More

Trader's Corner
One of the basic tenets of technical analysis is that history repeats itself. Human behaviour, emotions, feelings and responses to a given situation have remained the same over ages. Since stock markets are nothing but manifestation of the ... More

CARS
The bewitching Honda Civic
The Honda Civic has all the makings of a winner. Most buyers in this segment expect novelty value, convenience features and low maintenance and running costs, all of which the Civic packages well. More

Shifting gears, F1 style
Honda has also launched the Civic with an automatic transmission variant, in addition to the five-speed manual gearbox. Here, too, Honda has shrewdly built in a considerable level of novelty into this more expensive automatic variant to make it ... More

Tata Motors' manufacturing tie-up with Fiat
Tata Motors and the Fiat Group, which recently entered into a marketing tie-up, have further extended their field of cooperation into manufacturing. The two companies have signed an agreement for setting up a joint venture for the manufacture ... More

INSIGHT
Banking stocks: The consolidation call
Consolidation in the banking space is likely to gather momentum in the coming years. Despite stiff resistance from certain segments, consolidation holds the key to future growth. More

Ballooning row over gas prices
The controversy over pricing and supply of gas to Reliance Natural Resources highlights the need for an independent regulator. More

MUTUAL FUNDS
Principal Equity: Sell
Principal Equity has returned 10.4 per cent annually since inception and has just about managed to keep pace with the Nifty's return of 11 per cent over the same period. More

Kotak Mid-Cap — Drawn to metals, software
Mid-cap stocks had a dream run over much of the past year. However, most diversified funds have now shuffled their portfolios and moved out of the mid-cap space or reduced their exposure to this segment. A fund with a strategy to invest at ... More

DSPML T.I.G.E.R: Hold
DSPML's T.I.G.E.R (The Infrastructure Growth and Economic Reforms) Fund seeks to invest in stocks of companies that would benefit from economic reforms and an infrastructure thrust. It has delivered returns comparable with those turned in by ... More

ING Vysya launches CUB fund
ING Vysya Mutual Fund has introduced `ING Vysya CUB (Competitive Upcoming Businesses) Fund', a close-ended diversified equity scheme that will be automatically converted into an open-ended scheme at the end of the third year. The scheme ... More

Fund Talk
You have been recommending strongly that a portfolio should contain a maximum of five or six funds with a good track record, with one or two large-cap funds, one mid-cap, and so on. Had I invested in funds over the last year or two and ... More

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