Watch out for competition
THE business dynamics for watches have completely changed ever since the import of fully assembled watches into India was allowed. A few years ago, one could buy a Swatch or a Tissot only from the grey market or abroad. Now, exclusive Swiss ... More

No titans here
Recommendation:
Titan: Buy
Timex: Avoid More

`Imports, no threat for us'
TITAN Industries is now fighting competition both from international and Indian brands that are slowly but steadily creeping into the Indian watch market. In a discussion with Business Line, Mr Bhaskar Bhat, Managing Director, Titan ... More

World time slow too
THE status of the global watch industry is not very different from India's. While the upper-end Swiss watches continued to grow in value, Japanese watch-makers in the mid-segment registered losses. Chinese producers at the lower end witnessed ... More

TELECOMMUNICATIONS

MUTUAL FUNDS

A spate of new offers
FOUR new schemes are now open for subscription. An income scheme each from the Unit Trust of India and Prudential ICICI Mutual Fund and two equity schemes from Birla Mutual are on offer. The latter includes a mid-cap fund, which appears to have ... More

Canpremium: Book profits
RISK-AVERSE investors in Canpremium, the balanced fund from Canbank Mutual Fund, can consider booking profits in the fund. It has capitalised on the sharp run-up in a few PSU stocks to generate positive returns of around 8 per cent in the first ... More

Franklin Balanced Funds: Contrasting approaches
Recommendation:
FIBF: Hold
FTIBF: Hold
More

Expense ratio cuts
SUNDARAM Mutual Fund has cut the expense ratio on Sundaram Select Debt, a fund that has been aimed at knowledgeable investors who want a greater say in managing their investment affairs. The expense ratio for a combined asset plan, which is ... More

Birla Index Fund: Unattractive
BIRLA Index Fund, a passive Index Fund tracking the S&P CNX Nifty is currently open for subscription. Though this appears to be a good time to enter the equity market, investors (especially those with no equity investments in mutual funds) may ... More

PSU

STOCKS

Swaraj Mazda: Hold
SWARAJ Mazda (SML), part of the Punjab-based Swaraj Enterprises and the country's third largest manufacturer of light commercial vehicles (LCVs), could come into the limelight again. With an excellent first quarter performance to boot, the ... More

Dabur India: Buy
INVESTORS with a conservative risk profile can consider adding the Dabur India stock to their portfolio at its current price levels of Rs 47. With established brand equity in the market for herbal products and a well-diversified basket of brands ... More

SSI: Hold/Avoid fresh exposures
THE slowdown in the US has taken a heavy toll on SSI's financial performance for the year ended June 30, 2002 . The financial contours of both the education and software services have deteriorated . On a standalone basis, the company's revenues ... More

Floatglass India: Buy
THE recent pick-up in automobile production has improved the business environment for companies dependent on the auto industry. Floatglass India is one such company that has seen its earnings improve, owing to the recent recovery in the ... More

MICO: Good long-term bet
THE sustained pick-up in automobile production in the current calendar year has translated into improved financial performance for quite a few companies including Motor Industries Company (MICO). Taking cognisance of the improved performance, the ... More

TAXATION

LIFE INSURANCE

LIC bonus announcements
THE Life Insurance Corporation has announced its bonus for various policies in its fold. The salient features are:

Rs 49 to Rs 71 per thousand sum assured for ... More

DISINVESTMENT

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Sheen off disinvestment — But family silver still glows
HAS the much-debated, dominant investment theme of the last 18 months — the gains linked to disinvestment of equity in public sector undertakings — fizzled out over the last two weeks? The move to postpone the disinvestment exercise ... More

SMALL SAVINGS

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Changing face of tax savings
WITH almost six months of this fiscal gone by, this is probably the right time to plan tax saving investments for the year. Such investments have changed considerably from the time the laws were amended in February. Now, the high-return tax ... More

DERIVATIVES MARKETS

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In-the-money options — When should you exercise them?
AN American type of option is one where the option contract can be exercised at any time between the date of purchase and the expiration date. When you exercise an option, the result may be different depending on the type of settlement. In the ... More

Markets end the week on subdued note
EQUITIES ended the week on a weak note on the heels of signs that the Government's resolve on disinvestment has begun to weaken, and increased likelihood of political turmoil in West Asia. The BSE Sensitive index ended the week at 3,098.94 ... More

Option value vs option price
THE terms, "option value" and "option price", though interchangeably used in the newspapers and investment magazines, are different. Option price is the price at which the option trades in the market. If Satyam 240 calls trade at Rs 4, you can ... More

Tax-free bonds: An extra option

FIXED DEPOSITS

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Balaji Auto Finance: Racing ahead
BAJAJ Auto Finance accepts fixed deposits under two schemes, cumulative and non-cumulative. It offers 8 per cent for a one-year deposit and 8.5 per cent for a three-year deposit. It does not accept deposits for a two-year tenure. The minimum ... More

INTERVIEW

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`Growth at a reasonable price, our strategy' — Mr Prashant Jain, Chief Investment Officer, Zurich India.
ZURICH India Prudence is one of the better performing balanced funds in the country. In this context, Business Line spoke to Mr Prashant Jain, who manages Zurich Prudence, on the investment strategies followed by the fund. <>Excerpts ... More

COMMENTARY

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Nasdaq: Persistent weakness
AFTER firm start to the week, the American markets tended to wilt down on Wednesday and Thursday. The S&P 500 and Nasdaq Composite Index managed to stage some sort of recovery on Friday while the Dow Jones Industrial Average ended weak. For ... More

Positive outlook for M&M
THE market activity was rather lacklustre during the just concluded week. Both the Sensex and the Nifty have registered a net decline for the week. The magnitude of decline was much higher in the case of Sensex. <>Sensex (3098.94): ... More

Infosys may decline further
ITC (Rs 686.9): Though the scrip ruled firm during the week, the overall outlook continues to remain bearish. Only a close above Rs 730 would blunt the overall bearish outlook. However, the scrip could seek higher levels in the next few days. ... More

Tech stocks in focus
HEXAWARE Technologies: The tech company that got listed recently has been on an uptrend ever since it bagged a huge order. During the week, the stock jumped 33.33 per cent to trade at 99.80. The surge was accompanied by a sharp jump in volumes. ... More

PSU counters suffer steep fall
THE markets continued to reel on disinvestment blues as the BPCL - HPCL disinvestment were put on the backburner by the Cabinet Committee on Disinvestment by three months late last week. That, alongwith the possible strike by the US on Iraq, ... More

INSIGHT

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US 64: Psyching investors?
TO THE rational bystander, the package put together by the government to induce investors to stay with the Unit Scheme 64 after May 2003 (and thus prevent a run) would seem to be an exercise in futility. But, in reality, the package shows a ... More

CARTOON

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It Adds Up!
"Good. I'm also all for your stopping to play the market and moving into real estate! So, when do we go about selling your house?

More

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