The Hindu Business Line : Monday, January 16, 2006

Stock broking firms on expansion mode — Plan to increase network to lure more retail investors
Sensing the opportunity, public sector banks are also entering this segment. While IDBI Capital Markets, the broking arm of IDBI, is diversifying into retail broking business, another public sector major Bank of Baroda has announced plans to enter th e equity broking business. More

Geojit Financial to open all-women's branch in Mumbai
GEOJIT Financial Services Ltd will open its all-women's branch in Mumbai on Monday. This will be the first all-women's branch in Mumbai and the second in the country, after Geojit's similar branch in Kochi, a press release from the company ... More

NEW FUND OFFER

MFs launch new schemes

Franklin Templeton has launched `Franklin Templeton Fixed Tenure Fund'. This is a close-end fund, which will invest at least 70 per cent in debt instruments and the rest in equities. The objective is to provide steady returns and capital ... More

MUTUAL FUNDS

Should I quit gilt funds?
"Accrual" products such as floating rate funds and liquid funds may be better options for investors who are averse to volatile returns. More

IMD funds from Gulf may move into mutual funds
Senior bank officials indicated that in the days following the redemption of the IMD, NRIs have been seeking banks' advice on suitable investment options. More

MF investors turn more hungry for critical disclosures
ARE mutual funds disclosing enough in their fact-sheets? We know this question will not be answered easily, but let it be said in no uncertain terms that never before were investors in MFs more hungry for disclosures than now. In fact, the ... More

STOCKS

Allcargo Movers sells 6% equity to US fund
ALLCARGO Movers (I) Pvt. Ltd, a shipping and freight forwarding company, said here on Friday that it had concluded the sale of six per cent of its equity for Rs 60 crore to New Vernon, a US-based private equity fund. The US fund had valued the ... More

STOCK MARKETS

The search for the 17-PE stocks
Many fund managers advocate caution but they reason the market is not necessarily over-valued since the PE is only 17. More

Query Corner
S. Kumars Nationwide (Rs 54.4): The stock has been consolidating over the past couple of weeks. The earlier corrective phase from the high of Rs 65 appears to have been completed at the recent low of Rs 38. The stock appears to be ... More

Drop in indices on the cards
Preferred view: Contrary to expectations, a bearish trend prevailed during the week. In the process, the index dropped below the crucial trendline that has been referred to in earlier weeks. The break above this trendline proved to ... More

Bullish trend in SBI
SBI (Rs 924): The recent price pattern has not negated the view of a rally to Rs 1,050-Rs 1,100. Only a close below Rs 860 would invalidate the bullish view. This is one of our top technical picks from the banking space. Long-term ... More

Too early seen unknown, and known too late
Sridevi was searching for details about Infy’s Kerala plan. Khan kept calling his friends and relatives who had returned from the Haj pilgrimage. Jogin was comparing the relative strengths of Tata and Fiat. And Dakshinamoorthy buzzed the chat ... More

Focus of the week
Mirza Tanners (Rs 168): After having topped at Rs 246 in March 2005, the stock has been in a major corrective phase. The stock touched a low of Rs 152 recently and has staged a recovery since then. The recent rally appears to be the ... More

Infy slumps 9 pc
THE Dow Jones Industrial Average, which crossed the psychological 11,000-mark since June 2001 last week, failed to hold on to that level and closed at 10,959.87 following lower-than-expected quarterly performances from Alcoa Inc and Tyco ... More

DERIVATIVES MARKETS

F&O POINTERS
Cautious trend may continue
Reliance de-merger issue, Q3 results and crude oil price could be the crucial factors that could decide the market direction. More

INTERVIEW

`All players essentially thirst for sticky money'
MR SANDEEP Dasgupta, Business Head, Deutsche MF, is convinced that Deutsche Bank's new retail banking initiative will energise the fund house's own plans to expand its asset base. "There has to be a spin-off", is how he puts it, adding that ... More

RECOMMENDATION

Greycells Entertainment: Reject
The company does not have a track record in the entertainment business, but the background of the acquirers suggests that there may be an emerging story. More

Sree Sakthi Paper Mills: Invest
INVESTORS with a two/three-year perspective can consider exposure in Sree Sakthi Paper Mills, as there is scope for a substantial scaling up of revenues and earnings. In the packaging paper business, growth prospects ... More

Bank of Baroda: Invest at Rs 230
INVESTMENTS in the public offer of Bank of Baroda can be considered at the higher end of the price band. The stock is under-valued relative to its fundamental strengths. The valuation reflects the bank's poor ... More

Tata Motors: Hold
THE TATA Motors stock (current market price Rs 643) has run up sharply in the last few weeks and appears fully valued at present levels. However, shareholders can continue to hold the stock with a medium-term ... More

Royal Orchid Hotels: Invest at cut-off
THE stock market is about to make room for one more hotel stock — Royal Orchid Hotels. An investment in the initial public offer can be considered from a medium-term perspective. The price band of Rs 150-165 ... More

PruICICI Discovery Fund: Invest
INVESTORS looking for a variation to their portfolio of growth stocks can consider exposure to the PruICICI Discovery Fund (NAV: Rs 21.7). The fund's performance since launch in July 2004 has been noteworthy. Investors ... More

Andhra Bank: Avoid
AN INVESTMENT in the public offer of Andhra Bank can be avoided. The offer is priced stiffly and the downside risks are high. An entry into the stock can be considered when the valuation is more attractive. Andhra ... More

HDFC Premier Multicap Fund: Switch
THE performance of the HDFC Premier Multicap Fund has trailed peers as well as other equity funds from the HDFC fold in the period since launch. Investors who have a substantial portion of their portfolio parked in this ... More

Raj Rayon: Avoid
INVESTORS need not subscribe to the seasoned offer of Raj Rayon. The price band of Rs 55-65 is at a modest discount to the current market price of Rs 75. The offer is valued at eight to 10 times the annualised per share ... More

Gujarat Apollo Equipments: Buy
INVESTORS can consider exposures in the stock of Gujarat Apollo Equipment (GAEL), a small-cap stock with a market cap of just over Rs 100 crore. The stock is attractively valued at eight times its expected FY06 ... More

Ramco Systems: Invest
SHAREHOLDERS of Ramco Systems can consider investing in the rights offer at Rs 210 per share. This offer remains appropriate only for shareholders with a holding period of more than a year. The attractive pricing, ... More

Dynemic Products: Avoid
INVESTORS can avoid the initial public offering of Dynemic Products. At Rs 35 (including a premium of Rs 25), the offer price appears stretched. The offer is priced at over two times its last reported book value and at ... More

IPOS

Preventing IPO scams
The question of multiple applications in public issues is as old as the primary market. One investor can make more than one application, as happened in the recent YES Bank IPO issue. Definitely, the YES Bank case is not an isolated one. It ... More

OUTLOOK

Sensex to be sensitive to Q3
FEAR of stretched valuations caught up with the market last week and liquidity flow suddenly went into a reverse gear on Thursday. It seems Dalal Street has finally opted for a short-term correction and consolidation mode. This is also perhaps ... More

ECONOMIC OFFENCES

IPO scam
I am a genuine investor being victimised: Shreyans Shah
THE Ahmedabad-based Lok Prakashan Group and its promoters named in the IDFC IPO scam as entities receiving lakhs of shares in off-market deals before listing claim that they are innocent. "We are genuine investors and we are seeking legal ... More

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