The Hindu Business Line : Sunday, June 15, 2008

INVESTMENTS
How high net-worth individuals diversify risk
Managing money for high net-worth individuals is a complex task that needs access to various resources, asset classes and constant monitoring. As wealth increases, the needs evolve; from plain vanilla reactive investment strategies to ... More

Cat bonds: Investors as insurers
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Investment Nuggets
Manager of Wintergreen Fund and formerly chief executive officer and chief investment officer of Franklin Mutual Advisers, David Winters is a value investor. He believes in holding solid companies for the long-term. ... More

Should I invest globally?
I wish to streamline my investments in mutual funds. I have a time horizon of 3-5 years and return expectation of around 30 per cent annually. I have investments in DSPML: Equity, T.I.G.E.R.; Fidelity Equity, Franklin India ... More

INSIGHT
Oil prices: Correction on cards
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ECONOMY
Market View
Even if GDP growth slows, as it will, in FY09, by about one percentage point or a tad more, the outcome may not be a major negative from an economic perspective; This lower rate is going to be a high base created by average GDP growth of about ... More

What’s Ahead
The market is likely to track global markets in the week ahead. Macroeconomic indicators such as domestic industrial output growth at 8.1 per cent in 2007-08 (April-March) compared with a much higher 11.6 per cent growth in 2006-07 as well as ... More

MUTUAL FUNDS
Templeton India Growth: Invest
Conservative investors can add Templeton India Growth Fund to their portfolios. The fund, which focuses on picking “value” stocks, has a more than ten-year track record in fund management — a record marred by substantial ... More

SBI Bluechip: Financial services top
SBI Bluechip Fund started on a bright note two years back ago but appears to have lost momentum in between. The fund collected Rs 3,000 crore during the NFO and, according to the latest fact sheet the assets under management are Rs 1,132 ... More

Lotus India Banking Fund: Banking on valuations
With the CNX Bank Index down 40 per cent from its January levels, bank stocks have been among the worst performers in the recent market rout. Does this make it a good time to launch an equity fund that focuses on the banking sector? Lotus ... More

Fund Update
Franklin Templeton Investments has declared a dividend of 60 per cent under Franklin India Prima Fund. The record date is June 18. ABN AMRO Mutual Fund has announced following changes with effect from ... More

STOCKS
BGR Energy Systems: Buy
Investors with a three-year perspective can consider investing in the stock of BGR Energy Systems. The recent results posted by the company and the strong growth in order book belie fears of a slow down in the engineering services ... More

Tata Elxsi: Buy
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Kaveri Seed Company: Buy
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Control premium
The Singh family, the largest and controlling shareholders of India’s largest drug company Ranbaxy, has agreed to sell its entire 34.82 per cent stake to Japanese pharma major Daiichi Sankyo at Rs 737 per share, valuing the ... More

Deal off
Textile major Arvind Mills and Italian fashion brand Diesel BV have called off their proposed joint venture for the distribution and branding of Diesel products in India by mutual consent. Both feel that the JV agreement would restrict ... More

Big names
Deccan Chronicle Holdings has said that The New York Times Company, owners of the International Herald Tribune, plans to acquire a 5 per cent equity stake in Sieger Solutions, a 100 per cent subsidiary of Deccan Chronicle ... More

No pipe dream
Home grown pipe maker PSL has bagged orders worth Rs 1,928 crore from GAIL, for the supply of carbon steel pipes. The orders are executable by the end of this year. PSL’s consolidated order book now stands over Rs 6,000 ... More

TECHNICAL ANALYSIS
Index Outlook
Indian markets displayed remarkable resilience last week and fought back bravely from lower levels despite the cacophony of voices on inflation, crude oil, interest rates, corporate earnings, FII inflows and so on. The Sensex closed the week ... More

Query Corner
I had bought shares of ICSA at Rs 308 in October 2007. Kindly advise the long-term target price for this share. Nirnimesh BhansaliICSA India (Rs 395.0): This stock recorded a ... More

Reliance
Reliance Industries reversed from the trough at Rs 2,112 last Monday and resolutely marched higher, thus helping to support the rest of the market. The stock is halting at the apt juncture and if this low sustains, it can move higher as the ... More

SBI
The decline in SBI did not get any deeper last week and the stock pulled itself higher from the intra-week trough at Rs 1,252. As explained last week, the stock is hovering just above its long-term trend line at Rs 1,300. A ... More

Tata Steel
The sharp decline in Tata Steel on Monday was arrested at Rs 750, in line with our expectation. The stock can move in a range between Rs 780 and Rs 925 over the next few sessions. As explained earlier, the medium-term outlook will turn ... More

Infosys
Infosys declined to the lower boundary of the expected trading range, at Rs 1,850 last week. The stock will face resistance at Rs 1,937 and then Rs 2,020 next week. Failure to move beyond the first resistance would be a cue for ... More

Unitech
Unitech moved conclusively below the key long-term support at Rs 200 last week. Needless to add, that the long-term view has now turned negative. The 14-month relative strength index is at 45 and the monthly MACD oscillator is signalling a ... More

Reliance Infra
Reliance Infrastructure clung to the support at Rs 1,000 last week. The close below the April trough at Rs 1,140 implies that the long-term trend is down in the stock. The third leg of the down-trend from the January peak can drag the stock ... More

Tech School
Many chartists use multiple moving averages and use the cross-over of these averages to generate or to confirm buy and sell signals, which we had discussed in our previous Tech School. Moving averages (MA) can be used to identify the ... More

REAL ESTATE & CONSTRUCTION
Turning ‘dirt to dollars’
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GROUND REALITIES
Interest rate blues

With the stage set for a hike in interest rates, the property market is likely to see a further slowdown. The Reserve Bank of India on Wednesday announced a 0.25 percentage point hike in repo rate, the rate at which it lends to ... More

Bangalore sees price spike
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Desi projects with videshi touch
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FINANCIAL MARKETS
Employing asset allocation strategies for optimal gains
Asset allocation is an integral part of the portfolio management process. In a plain-vanilla portfolio, this strategy refers to allocating assets between stocks and bonds. In a somewhat complex portfolio, the strategy includes ... More

STOCK MARKETS
TOP OF MIND
Trying to score off rumour, news
“Buy low sell high”…that is the common refrain of those trading in the markets. But there is also “buy on rumour, sell on news” especially when there is news relating to mergers and acquisitions of listed ... More

Bobbing along on a roller-coaster
have weathered the choppy market well; but if media or capital goods were yourchoices, your portfolio would still bear thescars of the meltdown. The recent correctioncannot be attributed entirely to "globalcues" either. Inflation, rising ... More

IT services: Vertical advantage
If you had bought the shares of the top five IT services companies on January 22 this year, you would have been richer by 23-63 per cent by now, while the Sensex has gone nowhere. This in contrast to their being on the sidelines when the ... More

Media: The plot thickens
Media stocks have taken a battering in recent months, shedding 50-60 per cent of their values from the January peak. High valuations and concerns on the execution front appear to have driven the sell-off in this segment. The ... More

Capital goods: Challenging times are up ahead
Capital goods, as a sector, suffered a severe de-rating in the recent correction. While weak investor sentiment was also a factor, the decline was primarily driven by the expected moderation in the growth of capital goods companies, linked to ... More

Pharma: A booster dose
The ongoing deep correction has been less harsh on large-cap pharma stocks. While the benchmark Sensex has shed over 30 per cent from its highs of early January, select stocks such as Ranbaxy, Sun Pharma, Glenmark and Lupin have ... More

FMCGs: Resilient margins
The FMCG sector has been among the more resilient ones in the recent market meltdown, with the BSE FMCG index losing only 2 per cent so far this year. Though market fancy for FMCGs has been driven partly by its “defensive” ... More

Baskets of X
E-mail your guess before Tuesday to: BasketsofX@gmail.com

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Bull's Eye
(E-mail your response by Tuesday to:BullsEye@thehindu.co.in.
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DERIVATIVES MARKETS
Profiting from open interest
Call it wishful thinking, but how would it have been if you had known a day before that a particular company’s shares would go up the following day? Obviously great. But, sadly such premonitions are unheard of, at least in the world of ... More
Nifty future may gain on short-covering
Though the week began with a sharp fall in Nifty future, stability came in thereafter. On a weekly basis, Nifty future lost only about 2.7 per cent and ended at 4484 points. However, the discount between future and spot Nifty has ... More
HUMAN RESOURCES
HOW-TO GUIDE
How to evaluate a job offer
Switching jobs is a crucial decision as it sets the pattern of job choices you make over the next couple of years. Topmost among the things one needs to consider before accepting a job offer is, of course, the pay package, though one should ... More
FOREIGN INSTITUTIONAL INVESTORS
Where have all the bulls gone?
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Prominent bulk deals on NSE & BSE
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INCOME TAX
Deductions for senior citizens
I am a senior citizen. In the financial year 2007-08, (Assessment Year 2008-09) my income by way of pension and interest on deposits is Rs 2,14,228. I have made an investment of Rs 12,000 under Section 80C ... More
IPOS
Archidply Industries: Invest at cut-off
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Lotus Eye Care Hospital: Invest at cut-off
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MARKETING
Watch out for the foot in the door
Consider this. A stranger approaches you inside a mall. After some small-talk, she asks you how you feel about the victims of natural disasters. When you say that your heart pains for them, she asks you to sign a petition which demands that ... More
BOOKS
Identify the right businesses
The game plan to invest successfully has four steps, according to Pat Dorsey. First, identify businesses that can generate above-average profits for many years, he writes in ‘The Little Book that Builds Wealth’ (More

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