The Hindu Business Line : Sunday, June 15, 2003

Kirloskar Oil Engines: Avoid
SHAREHOLDERS in Kirloskar Oil Engines (KOEL) can avoid the offer as the current market price (Rs 86) is higher than the buyback price (Rs 75). Shareholders can sell in the open market and re-enter later. ... More

MUTUAL FUNDS

PruICICI Child Care Plan: Hold/Avoid fresh exposures
THE two plans under PruICICI Child Care Plan have delivered reasonable returns of around 12 per cent per annum since launch. Investors can, therefore, hold on to their current exposures to the fund. Fresh ... More

Mutual fund practices: Lessons from US
COMPARISONS are odious. This is especially true of comparison of the Indian mutual fund market with that of the US. The last few years have proved that US institutions are not paragons of virtue. On the other ... More

Franklin India Bluechip, Franklin India Prima: Suitably complementary
Bluechip: Invest
Prima: Hold More

HDFC Gilt Fund: Invest
HDFC Gilt Fund (Growth) generated annualised returns of 20 per cent since July 2001. Investors with a penchant for risk can consider taking small exposure in the fund. The exposure can be restricted to 10 per ... More

GIC Fortune `94: Hold/Sell on rise
INVESTORS in GIC Fortune '94 can continue to hold on to their exposures. The fund is one of the leading performers over the past three- and one-month periods. Its policy of holding on to cash in 2001 also ... More

Don't ignore the retail side
OF LATE, mutual funds appear to be using a new tactic to woo big-ticket investors — alterations in their load structure. Over the past year, many debt-oriented funds changed their method of charging exit ... More

Importance of style benchmarks
A PORTFOLIO manager who runs an aggressive growth fund returns 25 per cent against broad market returns of 5 per cent. A large-cap portfolio manager returns 10 per cent against the large-cap benchmark of 6 per ... More

STOCKS

GTN Textiles approves delisting

Tata Engg plans delisting of shares

TECHNICAL ANALYSIS

Bullish near-term outlook for Nifty
Preferred view: The outlook for the index continues to remain positive. As mentioned last week, the immediate target for the Sensex lies at the 3400-3450 range. In the slightly longer time frame, a move towards the earlier high at 3760 is ... More

Positive trend in Orchid Chemicals
ITC (Rs 710): The stock was confined to a relatively narrow trading range last week. The overall outlook for ITC continues to remain positive. However, in the near term, a drop to the Rs 690-695 range appears likely. On the other hand, a ... More

Query Corner
KINDLY give your recommendation for Steel Authority of India. — Hemant, Sanjay Shantilal & G.Munesh SAIL (Rs 13.8): The outlook for the stock appears slightly bullish. However, it is currently stuck in a narrow band and has ... More

STOCK MARKETS

BSE to launch bank index tomorrow
WITH bank stocks in the limelight, the Bombay Stock Exchange (BSE) has decided to launch a new index BANKEX, comprising stocks from the banking sector, based on the free float method from Monday. The new index would comprise 12 stocks, ... More

Digital Global sheds 23 pc
Digital GlobalSoft (Rs 385): The drop in the stock price of Digital GlobalSoft by 23 per cent this week, has to be viewed on the back of announcement made by the company that it would merge with Hewlett Packard's India Software ... More

Power equipment stocks in limelight
GUESS what is the latest theme in the stock markets after banking stocks. It's the power and power equipment stocks that have been caught investor fancy off late. The interest has been picking up both in power stocks as well as power equipment ... More

DERIVATIVES MARKETS

SBI active among individual stock options
AS the market finished the week on a firm note, bolstered by arrival of monsoon and continued net investments by foreign funds, the average daily turnover at the futures & options segment on the NSE improved marginally to about Rs 2,968 crore as ... More

DO THE DERIVATIVES
Meet the Greeks
IS option premium (price of an option) affected by volatility of the stock price? Yes, option premium is affected by the volatility in the stock price and by some other factors. These factors are collectively called as the `Greeks'. These ... More

COMMENTARY

RECOMMENDATION

Moser Baer: Book profits
SHAREHOLDERS of Moser Baer may consider booking profits in the stock. Over the last three months, the stock has appreciated by nearly 25 per cent and shareholders may consider offloading a part of their holdings ... More

Colgate-Palmolive India: Pare exposures
SEEN in the backdrop of the bruising competition in the sector, Colgate-Palmolive India appears to have had a successful year in 2002-03. Over the year, it managed to notch up gains in market share across all ... More

Cummins India: Hold
THIS is an engineering company that has managed to show a decent growth in its business despite a sharp dip in exports. When most engineering companies are banking on the overseas markets for growth, Cummins ... More

Britannia Industries: Book profits
INVESTORS can use the recent uptrend in the stock price of Britannia Industries to book profits in the stock. The stock has appreciated from Rs 500 in March to Rs 545 now. A slowdown in financial performance, coupled with aggressive price ... More

CUMI: Buy
INVESTORS can consider fresh exposures in Carborundum Universal at the current market price of Rs 140. The stock trades at around 4.5 times its March 2003 sustainable per share earnings. It could benefit from ... More

Asahi India Glass: Buy
AIDED by the growth in automobile production, Asahi India Glass has managed to record a steady growth in earnings in the recent quarters. Considering the sustained increase in auto production in the first two ... More

IPOS

Vijaya Bank plans Rs 100-cr public issue
CLOSE on the heels of banking scrips heading towards north across the bourses during the recent times, Vijaya Bank, which had earlier withdrawn its proposal to return Rs 100-crore capital to the Government, has now decided to further augment its ... More

Response to Maruti IPO stumps analysts
THE overwhelming response to Maruti Udyog Ltd's initial public offering (IPO) has foxed analysts, most of whom had said that the share had been overpriced. "We never had any problems with the company. We had only said that the price at which ... More

Informal funding schemes queue up for Maruti IPO
Funds are being made available almost at the drop of a hat for those who are willing to go in for the IPO despite the peculiar nature of these informal arrangements. More

Domestic FIs too put in bids
According to an analyst tracking the issue, the retail portion alone (which accounts for 25 per cent of the total offering) is expected to be oversubscribed six times. More

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