The Hindu Business Line : Sunday, August 20, 2006

STOCKS
Container Corporation: Buy
We resume coverage on the Container Corporation (Concor) stock with a buy recommendation. Though the stock has gained 80 per cent since our previous `buy' in May last, we note that returns have come on the back of strong growth in earnings. We ... More

Jindal Steel and Power: Buy
Firm steel prices, higher volumes and greater contribution from the power business are likely to drive earnings growth for Jindal Steel. More

Gujarat Alkalies: Hold
Falling global prices and the threat of removal of anti-dumping duty are likely to put domestic prices of caustic soda under pressure in the long term. More

3i Infotech: Buy
As a products-cum-services player catering to the banking, financial services and insurance space, 3i Infotech has focussed on expanding its range of offerings through acquisitions. More

Lupin: Buy
A focus on chronic therapy areas in the domestic market, coupled with the completion of major investments for developed market initiatives, is likely to show up in Lupin's bottomline. More

Emco: Buy
The company is looking at vertical integration with plans to make switchgears. Such in-house manufacturing is likely to improve margins for the projects division. More

BUYBACK
Delisting overtures
DHL's offer to residual shareholders of Blue Dart so as to delist, by offering up to Rs 550 per share may fall short of investor expectations. Though the Blue Dart stock did rise sharply in the run-up to the announcement, it cooled off a bit ... More

Prelude to delisting?
Oracle Corporation may be laying the ground for delisting the shares of i-flex solutions at a future date. It recently crossed the 51 per cent equity threshold in i-flex solutions through the creeping acquisition route. Early last week, following ... More

AUTOMOBILES
Searching for fuel efficient vehicles
I am planning to buy a cruiser bike and am interested in the Enfield Thunderbird, as I feel the bike is excellent for long distances. Recently, I heard that Bajaj is launching a 220cc version of its Pulsar with lots of new premium features. I ... More

INSIGHT
Timing the market right
With funds offering poorer downside protection now, conservative investors must be more active in their profit booking. Equally, the choice of funds and timing remain strongly relevant. More

Analgesic for the pharma industry
The cliché that there is no gain without pain could not have been truer in this case. After months of speculation on what could be the nature of recommendations in the proposed new pharmaceuticals policy, ... More

MUTUAL FUNDS
Principal Tax Savings: Invest
The fund has outperformed the Nifty 66 per cent of the time on a rolling monthly return basis over the past 24 months. This reflects some level of consistency in performance. More

Birla Advantage Fund — Stronger on banking, software, telecom
Birla Advantage Fund aims to achieve long-term growth of capital, at relatively moderate levels of risk through diversified investment. In extremely volatile market conditions, the fund will reduce the exposure to equity to below 70 per cent ... More

Market View
Reports suggest that Indian companies' capital expenditure during FY06 has risen significantly, indicating capacity expansions coming on stream. This indicates that FY07 will be another year of high growth in capex, ultimately ... More

Kotak Global India: Hold
Unitholders in Kotak Global India can stay with the fund. Its one-year return of 27 per cent is better than the comparable theme fund DBS Chola Global Advantage. However, Kotak Global has trailed its benchmark Sensex by 17 percentage points. ... More

Fund Talk
I am concerned about the funds I have chosen. I had invested in PruICICI Child Care Gift Plan when the NAV was 35. Now it has fallen to 32. What is the composition of this fund, and the risk associated with it? I invested in the newly ... More

Update
Standard Chartered Mutual has declared a maiden dividend of 15 per cent under its Standard Chartered Classic Equity scheme. August 22 is the record date for declaration of dividend. ING Vysya Mutual has extended the new fund offer ... More

TECHNICAL ANALYSIS
Index Outlook
Indian markets demonstrated their patriotic zeal by ushering in the 60th year of Independence with a weekly gain of 274 points in the Sensex. In a week that was devoid of triggers, the Prime Minister's speech on August 15 provided the cue to the ... More

Nifty may edge up; SBI may seek lower levels
More

Strength in Reliance
Reliance reversed smartly last week and broke out past the resistance at Rs 1,020 to hit an inter week high of Rs 1,073. If the Sensex has to reach the 12,000 mark, Reliance seems like the most likely candidate to lead this rally. The third ... More

ACC
The price of ACC is halting at the 61.8 per cent retracement of its fall from May 2 highs. Rs 900 is a very important resistance level for this stock. A breakout from this level can take the price to Rs 985. The weekly candlestick chart of ... More

Infosys
This chart looks formidable. The price of Infosys moved in a narrow band between Rs 1,740 and Rs 1,780 last week. The price is clear of its previous all-time high at Rs 1,727. This peak will now turn into a good support for the short term. ... More

Tata Steel
Tata Steel did not really live up to the promise it held out at the beginning of last week. The stock hit a high of Rs 543 on Wednesday and reversed from that level. The gains made on Monday and Wednesday was entirely wiped out by the ... More

SBI
SBI broke out above the resistance of Rs 870 on Wednesday and achieved our target of Rs 890. The volumes in SBI have been on the decline this week. The 10-day ROC and 14 RSI are giving a sell signal. This means that the stock is losing ... More

ONGC
The price of ONGC is still struggling with the short-term resistance at Rs 1,250. We maintain that fresh positions should be initiated only on a breakout above Rs 1,250. Ten-day ROC is diverging negatively and giving a sell signal. Fourteen-day ... More

Query corner
Can I buy Bharat Bijlee and Bongaigaon Refineries at current levels? What is the target price in 5 months? Eswaran Raju Bharat Bijlee (Rs 975.3): Bharat Bijlee is not showing sufficient strength in the recovery witnessed ... More

Trader's Corner
Novice traders would have come across the term `scalping' when two seniors are discussing their trading strategies. Though the term scalping conjures up images of a barber's razor or to the more imaginative mind, traders tearing off their hair in ... More

TWO/THREE WHEELERS
Will Kinetic set the roads aBlaze?
The Kinetic Blaze is nothing like any scooter seen till now in India — it is clearly the biggest, tallest and longest to roll out of an Indian factory. And to say that the Blaze is a looker is an understatement. More

STOCK MARKETS
Wobegon effect
A year back, my friend invested Rs 10 lakh in certain stocks that his financial adviser recommended. His investments are now worth just over his initial investment. He is obviously complaining. His financial ... More

Baskets of X
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Bull's Eye
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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

CORPORATE GOVERNANCE
Corporate Disclosures: Perceived threats and pronounced risks
Companies are talking about risks and threats in their annual disclosures. And the exercise counts for being more real, and more investor-friendly. Interestingly, the price is high, not of disclosure though, but its opposite, in terms of opaqueness. More

INCOME TAX
Double trouble for dad?
I have three children, including a set of twins, and all are in school. I pay tuition fee for their education. Can I claim tax deduction under Section 80-C in respect of all my children? Can I claim tax deduction for the fee I paid for ... More

BOOKS
Play the money game to win
First, train yourself to believe, `I create my life,' instead of resigning to the thought, `life happens to me.' More

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Top Stories
Jindal Steel and Power: Buy

Timing the market right

Index Outlook

Corporate Disclosures: Perceived threats and pronounced risks

Analgesic for the pharma industry

Nifty may edge up; SBI may seek lower levels

Looking back
Aug. 13-Aug. 19
Staring down the barrel

Union Bank of India: Buy

Software sector hits the purple patch

A safer drive with HUD vision

Index Outlook