The Hindu Business Line : Sunday, December 17, 2006

OPEN OFFERS
i-flex solutions: Accept
While i-flex stands on a sound footing, product business is inherently volatile and greater synergies are expected to accrue from its association with Oracle only in the long haul. More

IL & FS Investsmart: Accept
Though the changes at the management and ownership level lend long-term credibility to the company's business, uncertainties may surface over the near term as it manages the transition. More

INVESTMENTS
PE ratio: An effective screen-test
The PE (price-earnings) ratio is among the basic tools used to measure how cheap or expensive a stock is. This ratio measures the number of times a stock quotes as a multiple of its earnings per share and is also commonly referred to as the PE ... More

Investment Nuggets
Widely travelled and contrarian in his views, Jim Beeland Rogers was the co-founder of Quantum Fund along with George Soros. Rogers has repeatedly demolished the myth that investing in commodities is more risky than investing in stocks and ... More

SMART MESSAGE
The pleasure dimension
We all consider `risk' and `return' while investing. But what about... pleasure? After all, since the ultimate goal of investing and making money is pleasure, why not mix in `pleasure' during the process of investing itself. What is wrong with ... More

CALL CENTRE
Just a matter of time
"Is it a good time to invest now?" A question very few equity market investors would not have asked. Most investors seeking to dip their toes in the stock market think they should `time' the market. But what is market timing? Quite simply, ... More

Money Talk
Mr Rohit Choodanath, a BE in Computer Science, is currently working with Symphony Services as a Senior Software Engineer. Travelling, trekking, blogging and astrology are his hobbies. In a chat with Young Investor, he shares his ... More

AUTOMOBILES
Tata Motors' smart deal with Fiat
The most significant takeaway for Tata Motors in its joint venture with Fiat is the part on engine security, so to say. The JV will produce three different engines — a 1.3 litre diesel and 1.4 litre and 1.2 litre petrol engines — ... More

INSIGHT
The battle for Corus
It is anybody's guess how far and how long the bidding war will continue. But research reports indicate that any price beyond 525 pence per share may take the entire deal into dangerous "winner's curse" territory, with the winning bidder paying too h igh a price. More

Strategic rationale for consolidation
The push towards consolidation triggered by the recent Arcelor-Mittal merger has been guided by four key variables at the sector level: For years, steel stocks have consistently reduced shareholder ... More

Market correction: This time, it's different!
Corrective phases, when they occur, will be sharp and difficult to predict. It may be prudent to make strategy changes to de-risk your portfolio. More

MUTUAL FUNDS
ABN AMRO Future Leaders: The construction tilt
ABN AMRO Future Leaders Fund is an open-ended equity scheme which seeks to invest in mid- and small-cap companies with high growth opportunities. The fund defines the market capitalisation for these companies as being below that of the 99th stock ... More

HDFC Top 200 Fund: Invest
The fund's sector and stock choices have been conservative, with a bias towards sectors with a defensive orientation. More

Sundaram BNP Paribas India Leadership Fund: Hold
Investors can retain their holdings in Sundaram BNP Paribas India Leadership Fund. It has, since inception, generated a return of 56 per cent outpacing its benchmark index, the Nifty, by 8 percentage points. The fund's objective is to invest in ... More

Market View
Equities now trade at levels that factor in several quarters of relentless growth (and that too on a substantially higher bas) in line what we have witnessed over the past three years. As the market has extended deep into ... More

Fund Talk
I would like to invest with a time horizon of 20 years for retirement planning. I want to take advantage of both debt and equity through the mutual fund route. Which of the following methods will you recommend for the same: — Investing ... More

Fund Update
Franklin Templeton Mutual Fund has declared a dividend of 40 per cent and 20 per cent in Templeton India Growth and Templeton India Pension Plan respectively. The record date is December 20. UTI Mutual Fund has launched ... More

STOCKS
Punjab National Bank: Buy
An investment may be considered in the stock of Punjab National Bank (PNB) at Rs 507. Strong fundamentals, ability to protect margins, well-capitalised balance sheet and attractive valuations make it a preferred pick among larger public sector ... More

HLL: Buy
Hindustan Lever's earnings growth stems clearly from strong volume offtake from domestic consumers, which should deliver predictable earnings growth. More

TECHNICAL ANALYSIS
Query Corner
I have held shares of Devaki hospitals for more than a year. I would like you to enlighten me more on the subject. Kapurchand Devaki Hospitals (Rs 17.8): This stock is moving in a band between Rs 15 and Rs 20 since July. ... More

ACC
This one took the deepest cut of them all. ACC has retraced 54 per cent of the gains made since June lows in this fall. Though the recovery on Thursday and Friday was commendable, it has not mended the damage to the medium-term trend yet. The ... More

Infosys
Infosys was one of the least-affected in last week's carnage. It recorded a gain of 1.6 per cent. Since the stock reversed from our support at Rs 2,130, the short-term trend continues to be sideways between Rs 2,130 and Rs 2,300. Though ... More

Key resistance for Tata Steel
This stock slid to a low of Rs 424 on Wednesday. We have a morning star in the daily candle stick chart. The momentum indicators too are pointing towards a short-term bottom at Rs 424. But the weekly charts continue to look despondent. ... More

SBI
The oscillators in the daily chart are in oversold zones, but the short-term downtrend has not been reversed yet. If the low of Rs 1,165 holds for two more weeks, it would indicate great underlying strength and a rally past Rs 1,500 would be ... More

Reliance Industries
RIL slipped below the Rs 1,220 support to a low of Rs 1,181. But the intermediate term channel drawn from the low made on June 8 has not been breached yet. The upper boundary of this channel lies at Rs 1,432. That is the medium-term target for ... More

ONGC
ONGC slipped below its 200 day moving average last week. But it has managed to close the week above Rs 800. The price is currently in the island between the 50-day and 200 day moving averages. The 14-week RSI is at 51 and 10 week ROC is just ... More

Volatile condition may prevail
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Chart Focus
We recommend a buy in TNPL at current levels. The stock is moving in an upward moving channel since 2002. The lower boundary of this channel is positioned at Rs 78. Any down move in this stock is expected to get arrested in the band between Rs 75 ... More

Trading Tips
Many among the trading fraternity are comfortable buying low and selling high. But when it comes to selling high and buying low, they hold back. The first step towards becoming a successful trader is to accept the reality that markets cannot ... More

CARS
Question & Auto
I want to buy a small car in the Rs 3-4 lakh price range. I have shortlisted the Hyundai Santro, the Maruti Wagon R, the Tata Indica diesel and the new Maruti Suzuki Zen Estillo. I drive less than 50 km a day and the car will be self-driven. I ... More

TWO/THREE WHEELERS
Big changes to smaller sibling
Close on the heels of launching the redesigned and more refined new variant of the Pulsar 180 DTS-i, Bajaj has also introduced a refurbished version of its smaller-engine 150 DTS-i twin. Most of the changes to the new 150 DTS-i are identical to ... More

Bajaj kick-starting a new shopping experience
To distinguish its customers in the premium performance bike segment, Bajaj is setting up exclusive Probiking outlets that will offer a whole new ambience and buying experience for the biker. More

STOCK MARKETS
Create a hedge and cut your losses
Using derivatives to lock-in the value of your portfolio More

Stocks and bees
Even the experts are not sure about the origin of the phrase "the birds and the bees." This phrase is often used to explain human sexual behaviour to children. Some attribute the phrase to Cole Porter who sang ... More

Bulk deals on NSE and BSE
More

Bull's Eye
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Baskets of X
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INTERVIEW
`The issue is about agility so that businesses can grow'
"TCS is not one monolithic company anymore. TCS has a set of multiple businesses... So it is a question of managing the portfolio across markets in a very agile fashion." — MR N. CHANDRASEKARAN, EXECUTIVE VICE-PRESIDENT, TCS More

INCOME TAX
No pay-offs from play school
I am bank employee. I have a three-year-old daughter who is in play school. I payRs 7,200 per annum as school fees. Will I be able to claim deduction under Section 80C in this respect? A. Prashant Kumar Under section 80C, tuition ... More

IPOS
Lumax Auto Technologies: Invest
Reasonable pricing and a fairly good set of metrics are reasons why an investment in the offer may be considered More

Shree Ashtavinayak Cine Vision: Avoid
Given the high-risk nature of the business, investors should watch the company's performance before taking an exposure. More

RIGHTS ISSUE
Tata Teleservices (Maharashtra): Avoid
Given the higher competitive intensity and changing market dynamics, retaining market share and building up scale from these levels will be a tough challenge for TTML. More

BOOKS
Route to REIT
REITs are value investments More

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Top Stories
Strategic rationale for consolidation

Market correction: This time, it's different!

PE ratio: An effective screen-test

Create a hedge and cut your losses

HLL: Buy

The battle for Corus

Looking back
Dec. 10-Dec. 16
Cairn India: Invest at cut-off

Retail financing: NBFCs getting into fast lane

Escaping the clutches of valuation myths

Cast your Net wide for information

Query Corner

New CD series: Hero Honda opens throttle