The Hindu Business Line : Sunday, September 07, 2003

A guide to fixed income investing
GONE are the days when you could just put aside some money in a corporate fixed deposit scheme and sit back while it earned a handsome return based on a two-digit interest rate. Now you need to manage your fixed ... More

PPF: Investors need to be vigilant
In its quest to reduce interest costs, the Government seems prepared to go any length. Scrapping PPF now appears to be on the agenda. There are, however, better ways to reduce its burden rather than jettisoning an instrument that has served society well. More

Cash must ride the pillion son Bajaj Auto
BAJAJ Auto's idea of separating its investment portfolio of about Rs 2,700 crore and its automobile business could weaken shareholder value. This idea, though, is at a nascent stage, if one were to take the company's ... More

Oil stocks — Have they run up too much too soon?
Global oil consumption is showing an increasing trend, with projections of about 9 per cent growth in demand for this calendar year. More

Conditional Access System — Wait for a clearer picture
TELEVISONS in Chennai have, over the past week, dished out a fare that pales in comparison to what viewers have been accustomed to. Star Plus, Sony, Zee, HBO, Star Sports, ESPN and Cartoon Network, to name a few, ... More

Choosing the channels
YOUR decision to go for the CAS, or not, depends not just on STB costs, but also on your programme preferences and the pricing announced by various broadcasters. Swanky models If you ... More

MUTUAL FUNDS

Sundaram Tax Saver: Hold
AFTER an unimpressive start, Sundaram Tax Saver has registered a sharp improvement in performance over the past one year, generating a return of about 50 per cent over this period. During the year, the fund has delivered lower returns than HDFC ... More

Pharma funds — Cash in on uptrend
Magnum Pharma: Sell
Franklin Pharma: Sell
UTI Pharma: Book profits partially More

STOCKS

Rallis India: Hold/Avoid fresh exposures
Hopes of an early turnaround have propelled the Rallis India stock in the recent times. The turnaround hinges on a revival in agrochemicals offtake and an infusion of cash to retire debt. Though both seem possible, a few `ifs' remain for investors, says Aarati Krishnan. More

Marico Industries: An appetite for risk
DESPITE an appreciation of 16 per cent over the past two months, the Marico Industries stock may hold potential for further appreciation over the long term. But the stock may be suitable only to investors with an appetite for risk, as a ... More

Motherson Sumi Systems: Buy
THE recovery in the automobile sector has had a positive impact on the financial performance of quite a few auto ancillary companies. Motherson Sumi Systems is one such company.Taking into account the continued ... More

Shree Cement: Buy (High Risk)
EXPOSURES can be contemplated in the stock of Shree Cement at Rs 90 by investors with a penchant for high risk. As a small player in the industry , the risks associated with Shree Cement are higher than the industry ... More

Eicher Motors: Hold
SHAREHOLDERS of Eicher Motors can continue to the hold on to the stock at the current levels of Rs 150. At this price, the stock trades at a price-to-earnings (P/E) of about eight times (taking its 2002-03 earnings per ... More

Asian Paints: Buy
FRESH exposures can be contemplated in the stock of Asian Paints, the leading player in the decorative paints market in the country, at the current price of Rs 305. In the backdrop of a good monsoon, the prospects ... More

TECHNICAL ANALYSIS

Query corner
I am holding shares of IDBI and Ranbaxy . Shall I sell them now? — S. Sriradha & S.Viswanath IDBI (Rs 34): The immediate outlook for the stock does not appear positive. A drop to the Rs 29-30 range appears likely. However, ... More

Bullish long-term trend in ABB
ITC (Rs 836): As anticipated, the stock ruled firm and managed to move towards the target zone of Rs 850-860 that was mentioned last week. After touching a high of Rs 861, the stock turned weak on Tuesday. The near-term outlook appears ... More

Poised for higher target zone
Preferred view: The overall outlook continues to remain positive. The index appears well on course to move to the upper end of the target zone of 1400-1450. The index could eventually move towards the 1500 mark within the next few weeks. ... More

CARS

The all-terrain khan
WE INDIANS are incorrigible! Don't get me wrong on this defeatist opening, but how else do you explain this sudden urge to take to gas-guzzling sports utility vehicles (SUVs), when this very trend among car buyers in ... More

LIFE INSURANCE

INSURANCE CORNER

LIC's Jeevan Samriddhi
JEEVAN Samriddhi from LIC's stable is a regular money-back plan that envisages paying out a certain predefined portion of the sum assured during the premium paying term. The added attraction of this plan is that ... More

STOCK MARKETS

Stock market and constant-sum game
IN DISCUSSING the positive effects of the current market rally with a friend, a point arose as to whether trading in the spot market is a constant-sum game. Popularly called the zero-sum game, this essentially means ... More

Markets in August — Trio on the bull run
LED by Japan, August clearly belonged to the Asian markets as they posted smart gains even as majority of benchmarks across the globe finished the month in the positive territory. US: The US markets began the ... More

Mood upbeat in fertiliser

Mid-cap pharma stocks continued to exhibit firm trends. Divi's Labs and Matrix Laboratories were star performers. Among small-cap pharma stocks, Fulford India and Bal Pharma stood out.

Fertiliser stocks across the board were upbeat on ... More

Number hopes jack up Sesa Goa 25%
Elder Pharma (Rs 128): The stock surged 32 per cent - the highest gainer amongst a swathe of mid-cap and small-cap pharma stocks that posted gains during the week. Divi's Labs (Rs 891): The stock rose 27 per cent. WTO ... More

DEBT MARKET

Likely to trade in range
BONDS traded in a tight range last week. The 10-year bond closed at 5.3 per cent, same as the previous week. Going forward, bonds are likely to remain bid, but may continue to trade in a tight range. The new RBI Governor, Dr Reddy, has stated ... More

DERIVATIVES MARKETS

Tata Steel remains active
AFTER breaching the crucial 1400-mark on Friday, the National Stock Exchange's S&P CNX Nifty gained over 3 per cent during the week to close at 1398.40 as against the previous week's close of 1356.55. However, the average daily turnover during ... More

What is the CNX IT Index?
CNX IT is an index comprised of the most liquid and large capitalization IT stocks traded on the NSE engaged in the business of software or hardware. CNX IT index provides investors and market intermediaries with an appropriate benchmark that ... More

Options guide

Futures guide

FIXED DEPOSITS

TN Power Finance — Yielding power
THE fixed deposit programme of TN Power Finance and Infrastructure Development Corporation (TNPF) is open for investment. An investment of up to one year can be considered, given the State government backing enjoyed ... More

INTERVIEW

`Steel prices are expected to be stable'
"A resurgence in infrastructure development and favourable market conditions has aided the entire steel industry." More

INCOME TAX

Cost of a share, post-merger
I WAS an original subscriber to the debenture issue of Reliance Petroleum Ltd (RPL) in 1993. I was allotted 100 triple option convertible debentures (TOCDs) in December 1990. Against these the company allotted fully ... More

Housing loan from employer
I HAD availed myself of a housing loan from my employer in 2001. I have been claiming rebate under Section 88 in respect of the principal repayment and claiming as a deduction the interest on the said loan against my ... More

IPOS

IOB: Invest
FRESH investments in the initial public offer of Indian Overseas Bank can be considered. The offer is priced attractively considering the financial position of the bank, the probable dividend yield offered by the stock ... More

UCO Bank: Invest
Despite promise of reasonable growth in profits, the pricing of the offer appears slightly on the higher side. This is because UCO Bank has one of the lowest spreads in the business. Also, the probable dividend yield on the stock may be lower than t hat of its peers. More

BOOKS

BOOK VALUE

How to beat Aladdin in gathering wealth
YOU want to become rich overnight. Or, say, over two or three nights. No, sorry, this book is not for you, says the foreword to Better Stock Trading by Daryl Guppy, founder of Guppytraders.com. It can, however, ... More

CARTOON