INVESTMENTS
The wealth that IPOs hide
Even high-priced Initial Public Offers could turn out to be a good investment More

CALL CENTRE
Beating the benchmarks
An investor's success is often judged by his ability to pick stocks that are `outperformers' — that is, those that beat the average return generated by the market as represented by such benchmarks as the Sensex or the Nifty. In India, there ... More

SMART MESSAGE
Not all in one basket
The booming stock market has thoroughly convinced Nirmal that equities are the best bet. Every month, over the past three years, he and his wife have been ploughing Rs 20,000 into systematic investment plans in equity funds. Simply thrilled with ... More

Adding cover to your life
The product you choose should be based on your insurance needs, with the tax benefit just being an add-on. More

Money Talk
Raghu Pillai, 49, is CEO, Retail Operations and Strategy for Reliance Industries' retail venture. Raghu is a well-known name in the retail industry and has had a steadily rising career graph within the sector, having ... More

Investment Nuggets
John C. Bogle, Founder of The Vanguard Group and President of the Bogle Financial Markets Research Centre, is popularly called the father of index fund investing. The Vanguard Group is one of the two largest mutual fund organisations in ... More

INSIGHT
Mutual Funds in 2006 — Aggressive managers score
Staying with the tried-and-tested approach to mutual fund investing may not have delivered the best results in 2006. But that is no reason to completely redraw your mutual fund portfolio. More

Premium conundrum
It has now become infra dig to fix a premium that is anything less than 30 times the face-value, even for loss-making companies, so long as they can convince their merchant bankers of the bright future. More

Battle for Hutch-Essar: An engaging call
The potential contenders for India's fourth largest mobile operator, Hutchison Essar, are growing by the day. As this mega deal heads towards a climax, a take on three key elements — performance, valuation and bidding. More

MUTUAL FUNDS
JM Hi Fi Fund: Hold
While its underlying theme is promising, the fund's ability to capitalise on it by investing in emerging opportunities may be crucial to better performance. More

Market View
We expect a GDP growth of close to 8.5 per cent in FY07 on the back of higher growth in industry and services. This makes India among the fastest growing economies in the world. Corporate performance has beaten analyst expectations ... More

Update
Franklin Templeton Investments has declared a dividend of 80 per cent under Franklin India Taxshield Fund. The record date for the same is January 10. HDFC Mutual has declared a dividend under HDFC Core and Satellite and HDFC ... More

Fund Talk
There has been a constant talk, in recent times, of the large-cap stocks being fairly valued as compared to mid-cap stocks. An investor who has made money in the past two years through diversified equity funds is caught in a dilemma whether to ... More

PETROLEUM
Crude oil heads south
Oil prices at the New York Mercantile Exchange fell $5.5 last week to $55.50 per barrel, the sharpest weekly fall since April 2005, due to continued mild weather in the north-east coast of the US. More important, the OPEC price basket is down to ... More

STOCKS
Valecha Engineering : Buy
Valecha Engineering's strong order book, improved balance sheet and plans for diversification augur well for its earnings growth. An investment can be considered in the stock with a 2-3 year perspective. At the current market price the stock ... More

Tata Motors: Buy
Runaway growth in demand for commercial vehicles and a strong showing in the compact car business augur well for the prospects of Tata Motors More

TECHNICAL ANALYSIS
Nifty perched at crucial level
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Index Outlook
Indian stock markets began 2007 on a hesitant note. After having expended all the energy in pulling back from the deep chasm that opened up in December, the markets seem to be wondering where to go next. The bedlam in the base metal and crude oil ... More

SBI
With the stock remaining rooted to the range between Rs 1,280 and Rs 1,230 last week, our view is unaltered. This sideways move can be the second wave, which would be followed by a downward moving third wave. The medium-term targets downward are ... More

Reliance
The counter was yet another pivotal that retreated to a somnolent state last week. It hit an intra-week low of Rs 1,252 and an intra week high of Rs 1,311.7. We stick to our view that the medium-term outlook will stay positive as long as it stays ... More

Tata Steel
The Rs 495-level continues to act as an important short-term resistance. Our view for this stock — the weakest among pivotals — will turn positive only if the price rallies above this level. The price is below both the 50- and 200-day ... More

Infosys
Short-term support for this stock exists at Rs 2,250. If the price sustains above this level, we can see the price rising higher to Rs 2,369 and then 2,440. The outer limit for this stock next week would be Rs 2,557. Buying on dips is ... More

ACC
The medium-term outlook is negative, as it can launch in to its C wave down from the peak of Rs 1,192. Fall below Rs 1,046 would be a cue to play short with a stop at Rs 1,110. Short-term support lies at Rs 1,046. A move below this level will ... More

ONGC
This stock has been trading in a range between Rs 890 and Rs 860 over the last two weeks. Our view stays positive. Momentum oscillators in the weekly chart have generated fresh buy signals. Fresh purchases can be made on dips with a stop at Rs ... More

Tech Tools
Please tell me what role is played by F&O cues in technical analysis. How are they related to each other? Also let me know the patterns that are formed on charts, when a stock is in both medium-term and long-term uptrend. Sameer ... More

Chart Focus
We recommend a sell on the stock at current levels. We have an evening star and a hanging man pattern on the weekly candlesticks chart. The move that started from the low of June last could have ended at the recent high of Rs 595. The next move ... More

Query Corner
I am holding shares of SSI. Please advise me about the medium- to long-term levels and also let me know if I can accumulate more at current levels. Rajesh Sanghvi SSI (Rs 193.9): The long-term outlook for this stock will ... More

Trader's Corner
In the middle of the 19th Century, there was a gold rush in America that tore men from their well-settled lives in search of the yellow metal that promised to make them rich overnight. A modern day parallel can be drawn between the day trading ... More

CARS
Question N Auto
I plan to buy a car in the mid-size category. The cars that I have short-listed are the Hyundai Verna Diesel, Ford Fiesta Diesel and the Honda City. As far as my requirements, the parameters will include low running and maintenance costs, ... More

TWO/THREE WHEELERS
Scooterette competition crystallises with Kristal
Bajaj is banking on the novel features, fresh design and youthful looks of its new scooterette, the Kristal, to make inroads into this segment of the two-wheeler market. More

ECONOMICS
Deadweight loss of X'mas
December is the best and worst of months; best because you get a lot of gifts for Christmas and New Year and worst because there is a big hole in your bank account, as you run up huge credit card bills buying ... More

STOCK MARKETS
Prominent bulk deals on NSE and BSE
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Bull's Eye
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Baskets of X
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INTERVIEW
`Valuation of small-caps is compelling'
A closed-end structure is better for a small-cap fund as it offers the luxury to take long-term calls without daily pressures. — ANOOP BHASKAR, FUND MANAGER, SUNDARAM BNP PARIBAS More

INCOME TAX
No free harvest from this sale
I purchased two acres of agricultural land in 1996. I have carried on agricultural activity on this land and I have a small farmhouse on this land. I earn an agricultural income of around Rs 1 lakh every year from this land. I purchased the ... More

IPOS
Autoline Industries: Invest at cut-off
As a key supplier to Tata Motors, Autoline has been a principal beneficiary of the popularity enjoyed by the former's Ace minitruck. More

Cambridge Technology Enterprises: Avoid
Though the demand for the company's services are strong, challenges arising from high client concentration, vendor consolidation and intense competition are likely to be significant. More

RIGHTS ISSUE
Bajaj Auto Finance: Invest
Attractively priced offer, promising business outlook and a well-capitalised balance-sheet are factors that inspire confidence in the rights offer of Bajaj Auto Finance. More

Lakshmi Vilas Bank: Invest
Sharper focus on asset management, improving quality of earnings and a well-insulated bond book lend credibility to the rights offer of Lakshmi Vilas Bank. More

Spice: Invest
Competition in the mobile handset segment is likely to be fierce, but the contribution from IT business may be reasonably strong over the next couple of years. More

BOOKS
Smart surfers vs blinded rabbits
Take responsibility for your money. More