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Sunday, August 19, 2007
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INVESTMENT WORLD

OVERSEAS BORROWINGS
SMART MESSAGE
Reining in ECBs
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INVESTMENTS
What’s on the menu for tax savings
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NEW FUND OFFER
Update
Lotus India AMC has launched an open-ended diversified equity scheme called Lotus India Equity Fund. The fund will invest 70-100 per cent in equity and 0-30 per cent in debt and money market instruments.Maximum exposure to ... More

INSIGHT
Integration may be a cushion against stock market declines
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Learning from global corrections
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MUTUAL FUNDS
Reliance Diversified Power Sector: Invest
More

Tata Infrastructure Fund: The right growth mix
With the economy growing at a fast pace over the past few years, the Government has laid emphasis on infrastructure development. Spending on infrastructure may be the key to sustaining this growth momentum. This, in turn, is likely to ... More

HDFC Growth Fund: Hold
HDFC Growth Fund, a diversified equity fund, has registered an improvement in performance over the past two years, after an unimpressive show until 2005. The fund’s three and five-year track records show that it has substantially ... More

FUND VIEW
On market turbulence and its genesis
The easy liquidity policy — with US Fed rates touching 40-plus year lows about four years ago has led to a steep rise in property prices in the US markets. In several regions, prices were reckoned to be akin to bubble-like territory even ... More

STOCKS
Bharti Airtel: Buy
The sharp decline in the broad markets over the past week offers a good opportunity to take exposures to the stock of Bharti Airtel – the market leader in the Indian mobile telephony market. Strong subscriber additions, substantial ... More

Power Finance Corporation: Buy
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CMC: Hold
More

Visa power
Visa Steel has signed a joint venture agreement with Baosteel Trading Co. Ltd. (China) and VISA Comtrade AG (Switzerland) to set up a 100,000 tpa ferro chrome plant in Orissa at a cost of Rs 260 ... More

DLF deal
DLF has entered into an agreement to acquire a project consisting of 38 acres of land from DCM Shriram Consolidated for Rs 1,675 crore. The company plans to build IT SEZ offices, shopping mall and residential units on the land parcels located ... More

HCC order
Hindustan Construction Company has bagged a Rs 415-crore water tunnel project from BMC to be completed in 2012. This is the second major order bagged by the company from BMC for water tunnel construction. ... More

TECHNICAL ANALYSIS
Index Outlook
It was a nightmarish week in which the global equity markets plunged in to an abyss even as the Central Banks worked overtime to assuage the investors' sentiment and maintain financial stability. We have the mid-week holiday to thank for the ... More

Query Corner
I am holding shares of ILFS Investment Managers bought at Rs 180. Please let me know the prospect of this stock. K. AnandavalliIL&FS Investment Managers (Rs 164): This stock is facing resistance from the zone ... More

SBI
The bearish engulfing candle in the weekly chart following the grave stone doji does not bode well for SBI. The stock achieved our short-term target of Rs 1,470 last week and is currently halting just above the 50-day moving ... More

Reliance
It was a resilient show by RIL with a mild 3 per cent fall. Weekly indicators and chart patterns denote that the intermediate-term outlook continues to be positive. The only concern is the close below the 50-day moving average. The immediate ... More

Tata Steel
Tata Steel has been bludgeoned out of shape last week. The ferocious third wave from July peak has dragged the stock below our medium-term target of Rs 563. The immediate support for the stock lies in the band between Rs 525 and Rs 535. The ... More

Infosys
After successfully defending the Rs 1,900 bastion since March, Infosys at last yielded some ground. Though the stock touched a low of Rs 1,745 on Friday, it rebounded to close with a mild 5 per cent loss for the week. The ... More

Bharti Airtel
The sharp fall in Bharti Airtel towards the end of last week made it test our outermost target at Rs 750. The stock has bounced from its 200 DMA and has also completed the minimum retracement of the up-move since June 2006. The ... More

ONGC
ONGC plunged towards our medium-term target to make an intra-week low of Rs 770. The immediate support for the stock is at Rs 743. If this level is breached, there can be a sharp fall down to Rs 675 or Rs 620. Weekly charts indicate ... More

Trader's Corner
The stock markets have an undeniable influence on the thoughts of the men/women related to it. Traders and full-time investors can think of little else in their waking moments, and in their sleep too. The fascination that the bourses hold for ... More

TWO/THREE WHEELERS
TVS Apache RTR 160 — The tribe’s new symbol of speed
The new Apache RTR 160 is both enjoyable to ride and pleasing to look at. The attention to detail and racetrack inspired engineering should keep riders happy. More

DTS-Si: Bajaj’s swirling, new tech
Based on DTS-Si technology, the new engine is expected to give good mileage without compromising on performance. More

STOCK MARKETS
Zen and the trader

We recently met a very successful trader. In his office hung a Zen Koan “Do not just do something. Sit there”. If you are unfamiliar with a Zen Koan, it is a paradoxical statement that is meant to push the Zen disciple ... More

FUND COMMENT
Sub-prime impact on equity markets
At the global level, especially in advanced markets such as US, UK, France, Germany and Japan, to name a few, the linkages between markets are strong. Pricing and participant linkages are strong. As interest rates have risen and sub-prime has ... More

Bull's Eye
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Baskets of X
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What’s ahead
With the US sub-prime crisis snowballing into concerns about a global liquidity squeeze, the Sensex tracked its Asian peers losing nearly 5 per cent on the week. Global cues will continue to be key next week. If the Japanese yen ... More

FOREIGN INSTITUTIONAL INVESTORS
Prominent bulk deals on NSE & BSE
More

INTERVIEW
‘Underweight on India due to valuation concerns’
Mr Jonathan Garner, Head of Emerging Market Strategy at Morgan Stanley, remains positive on the fundamentals of emerging markets. Valuations are now looking better as they are below their five-year averages and he expects valuations to ... More

All India needs to do now is to invest, invest and invest
More

Money Talk
Alok Kejriwal, 38, is a media entrepreneur having founded the contests2win.com group in India in 1998. This was among the first Web sites for contests and remains one of the most popular web properties in India. The ... More

INCOME TAX
Joint loans, double deductions?
We propose to take a housing loan jointly in our names and purchase a house. Will both of us be entitled to claim the deduction in respect of interest up to a limit of Rs 1,50,000/-? — DevIf ... More

IPOS
Motilal Oswal Financial Services: Invest at cut-off
More

Indowind Energy : Avoid
More

PEOPLE
Investment Nuggets

The Wall Street has few women who have enjoyed the reputation and sheer clout that Elaine Garzarelli has over the years. She gained fame while an analyst at Shearson by predicting “The Black Monday” in 1987 that ... More

BOOKS
As stress increases…
Afraid of how the markets will open on Monday? You are not alone if you said, ‘yes’; the maximum number of people are feeling threatened all the time, says Tony Plummer in ‘Forecasting Financial ... More


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Union Budget 2007-08

Railway Budget 2007-2008

Economic Survey 2006-2007

Top Stories
Motilal Oswal Financial Services: Invest at cut-off

All India needs to do now is to invest, invest and invest

‘Underweight on India due to valuation concerns’

Integration may be a cushion against stock market declines

Query Corner

TVS Apache RTR 160 — The tribe’s new symbol of speed

What’s on the menu for tax savings

Looking back
Aug. 12-Aug. 18
Nifty may rebound partially

Query Corner

Infrastructure stocks still attractive on PEG

Outlook for Indian financial markets: Stocks up, rates down?

Bajaj Pulsar 220 DTS-Fi — Injecting power and passion into your ride

Domestic themes may help investors ride out the global volatility


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