The Hindu Business Line : Sunday, July 13, 2003

Schenectady Beck: Accept
SHAREHOLDERS of Schenectady Beck India Ltd (SBIL) can tender their shares under the ongoing open offer. The acquirer, Altana Electrical Insulation GmbH (Altana Electric), is proposing to purchase up to ... More

PENSION PLANS

Varishta Bima launch

INDUSTRY ANALYSIS

Hotels: Check out for better days
HOTEL stocks, which lost favour post 9/11, have a bright prospect over the next couple of years. The improvement in the domestic economy should help the process of recovery for the industry though global ... More

De-risking: Set to pay
THE industry is moving towards new revenue sources in an effort to have greater stability. The traditional method of hotel business entirely depended on room and the associated food and beverages revenues. ... More

`Luxury hotels generate 75% of our revenues' — Interview with Mr Raymond Bickson, MD-designate, Indian Hotels
Indian Hotels is on a roll, what with occupancy rates looking up. Mr Raymond Bickson, the executive director and COO (luxury hotels) and the MD-designate, has a plateful of challenges to tackle as he sets about taking the Taj Group to a higher ... More

Spin-offs from external sources
THE hotel industry's reviving charms are not a function of its efforts alone. A few other factors that are not directly in the industry's domain have aided this fortune. The Government, for one, has ... More

What they have to offer
EIH: Hold
ITC Hotels: Hold
Hotel Leela Venutre: Buy, high risk
Taj GVK Hotels: Buy
Indian Hotels: Buy More

INSIGHT

Quarterly earnings: No guide to full-year performance
April 10, 2003: Mastek declares earnings numbers for the year 2002-03. The market downgrades the stock and 50 per cent of its value is wiped off in a single trading session. THE market had expected ... More

Finding value in the numbers
PERIODIC earnings announcements may not tell the whole story but they definitely provide the jist of it. These numbers may lead to higher or lower expectations and affect the valuation of the stock. At times ... More

New listings favour fund investing
THE sizzling debut of Maruti Suzuki is a sign of the ring of confidence enveloping the primary market. Maruti's listing follows a string of successful offerings, mostly from banks. After a long time, public ... More

FIIs in `debt'
THE April-June 2003 quarter has been the second best for investments by foreign institutional investors (FIIs) in India. The best was in 1996 when FII flows hit an all-time high of $3.1 billion. In 2003, FII ... More

Maruti IPO: A good history helps
THE just-concluded initial public offering (IPO) of Maruti Udyog Ltd (MUL) is a vindication of the market savvy Indian investor. Coming as it did when the primary market was at its nadir, new listings and ... More

What is enhanced indexing?
THE stock market has moved up considerably in the last two months. In such a market, active funds outperform index funds. However, when the market is down, index funds typically tend to be better performers. ... More

MUTUAL FUNDS

Prima Plus: Invest
INVESTMENTS can be contemplated with a one-to-two year perspective in Franklin India Prima Plus. But investing can be made in a phased manner, perhaps using the systematic investment plan, to take advantage of ... More

DSP Merrill Lynch Opportunities: Hold
INVESTORS in DSP ML Opportunities fund can stay with the fund, as its performance has improved considerably since mid-2001. The fund, which was launched in March 2000, had a disastrous start, trailing S&P CNX ... More

PruICICI Growth: Pare exposures
INVESTORS in Prudential ICICI Growth Fund can consider paring exposures taking advantage of the run-up in the NAV in the last three months. The NAV is up by about 19 per cent. A host of other equity funds ... More

Sunder from UTI

Master Value dividend

New option in Birla Maturity Plan

STOCKS

Infosys Technologies: Tender to the sponsored ADR offer
INVESTORS need to consider selling the Infosys stock. The sponsored ADR offer, which is in the offing, involves selling to overseas investors. Through this offer, shareholders get an opportunity to sell the ... More

Pfizer: Buy
INVESTORS looking for a sound pharma company to deploy their funds can consider doing so in Pfizer, one of the better pharma p0lays in the market today. At the current price of Rs 412, the stock trades at a ... More

Escorts: Hold
ESCORTS Ltd is in the process of refocussing its resources into the three core areas of agri-business, cellular telephony and healthcare, which have been identified by the company to be the future growth ... More

India Cements: Buy (high risk)
INVESTORS with a penchant for high risk can consider small exposures in the India Cements' stock as there may be gains from further restructuring. Investors who had picked up the stock at about Rs 17 — ... More

MphasiS BFL: Hold/Buy on declines
SHAREHOLDERS of MphasiS BFL can continue to hold the stock. Fresh investments can be contemplated at price declines of about 10 per cent from the present levels. MphasiS BFL is likely to maintain its earnings ... More

Monsanto India: Risky, yet valuable
DESPITE its sharp run-up in the past month, the Monsanto India stock continues to hold potential for capital appreciation. Risk-seeking investors may consider accumulating the stock at current price levels. At the price of Rs 727, the stock ... More

Bank of India: A growth option
INVESTORS can consider exposures in the Bank of India stock at the price of Rs 49. At this price, the dividend yield on the stock is attractive at 6 per cent. The relatively high dividend yield indicates that the stock is undervalued relative ... More

TECHNICAL ANALYSIS

Pare exposure in HLL
Preferred view: The index inched closer to the immediate level of 3760 that has been emphasised in the past few weeks. After touching a high of 3714.8, the index closed on a relatively weak note at 3676 on Friday. The index could seek the ... More

Upside momentum losing steam
ITC (Rs 757.4): The stock could see some subdued price action in the following week. A decline below Rs 745 would have bearish implications and could pave the way for a drop to the Rs 710-720 range. Only a close above Rs 790 would now ... More

Query Corner
Please update on your outlook for Saw Pipes in the short and medium term. Please also advise whether to invest at present prices in pharma scrips such as Ranbaxy, Divi's Laboratories. — Gauri Shankar The outlook for Saw Pipes (Rs ... More

LIFE INSURANCE

AMP Sanmar Nithya Shree
A WHOLE LIFE policy provides a financial legacy to the policyholder's dependents when he dies. This week, we will look at the features of a whole life policy from AMP Sanmar — Nithya ... More

GENERAL INSURANCE

Home safe home
MR DINESH Kumar, a senior executive with a leading MNC, is in a quandary. He has earned a well-deserved break, and wants to take off on a holiday with his wife and kids. But here is one fly in the ointment, as ... More

STOCK MARKETS

Hughes gains 15 pc on Tenet acquisition
Satnam Overseas (Rs 41): Without any new development, the stock of Satnam Overseas gained 84 per cent during the week. The company, while announcing product launches in June said that it expected the net profit to grow 15 per cent in ... More

Techies to the fore
TECH stocks came back into the reckoning after being rather subdued over the past couple of months. Infosys' results provided the much-need shot of adrenalin to the sector, which prompted a secular uptrend in stocks such as Satyam Computer, Wipro ... More

DEBT MARKET

Trading range depends on cut-off yields
Bond yields dipped marginally (2 to 3 bps) week-on-week. The 10-year bond currently trades at 5.76 per cent YTM. Going forward, bonds are likely to remain range-bound. The cut-off yields at the forthcoming auction will set the trading range for ... More

DERIVATIVES MARKETS

Maruti, Infosys in limelight
The week saw interest waning in index futures and options and shifting to stock derivatives. Huge build-up in open interest was in July future contracts of Tata Steel, Reliance, Satyam Computers, HPCL and Tata Engg Index futures: The ... More

USING FUTURES/OPTIONS
Active & Passive Orders
The Futures and Options trading system provides a fully-automated trading environment for screen-based, floor-less trading on a nationwide basis and an online monitoring and surveillance mechanism. The system supports an order-driven market and ... More

Options guide

Futures guide

CREDIT CARDS & DEBIT CARDS

PowerCard from IndusInd Bank

FIXED DEPOSITS

M&M Financial Services: Driving well
INVESTMENTS can be considered in the one-year, non-cumulative deposit as well as the three-year cumulative deposit option of M&M Financial Services. At 7.5 per cent, the two-year option offers 50 basis points ... More

INTERVIEW

`Funds now cater to very aware investors' — Mr Krishnamurthy Vijayan, CEO, JM Mutual Fund
"Buy, and hold for the long term — - is not a practical strategy for fund investors," may be unexpected advice, coming as it does from the CEO of one of the oldest mutual fund houses in the Indian market. But Mr Krishnamurthy Vijayan, ... More

INCOME TAX

Overseas allowances of software engineers
I AM a software engineer working for a company in India. I am presently on deputation in Hong Kong. The Indian company pays me a salary in India, which is directly credited to my bank account in India. I also ... More

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