The Hindu Business Line : Monday, October 06, 2003

What record FII flows mean for equities
IN THE first nine months of 2003, foreign institutional investors (FIIs) invested more in equity than in the past. The inflows to date in 2003 at $3.10 billion exceeded the previous high of $3.06 billion in 1996. In ... More

Value investing, Graham style
Over the last 12 months, the pay off for employing a Ben Graham-inspired technique has been exceptionally high. Its success suggests that this strategy can be tapped once more now to identify probable investment candidates. However, there are risks t hat need to be suitably factored when employing the strategy in the market place. More

MUTUAL FUNDS

PORTFOLIO REVIEW

Prudential ICICI Power: Book profits partially
WITH its net asset value nearly doubling over the past year, PruICICI Power, a fund focussed on "core sector" stocks, from Prudential ICICI Mutual Fund figures among the top performing equity funds over a one-year ... More

PORTFOLIO TRACKER
LIC Dhansamriddhi: Pare exposures
LONG-term investors in LIC Dhansamriddhi can consider reducing their exposures in the fund. While its performance in the last three months has been good, its long-term performance has been rather unimpressive. The fund ... More

Alliance Basic Industries
Risk-averse: Book partial profits
Others: Hold More

K-Gilt Savings Plan: Invest
K-Gilt Savings Plan (Growth) generated one-year holding period returns of 6.5 per cent. The returns compare well with short-term bank fixed-deposits. The fund is suitable for those proposing to construct a bond ... More

STOCKS

Pfizer: Cut exposures
The earnings numbers for three quarters, unveiled by Pfizer last week, suggest that the benefits of the merger with Parke Davis may take a longer time to accrue. There may also be a merger with Pharmacia Healthcare, says Nath Balakrish nan. More

Bajaj Auto: Buy
TAKING into account the change in product mix in favour of higher value products and a good track record with respect to new product launches, long-term investors could take equity exposure in the Bajaj Auto at the ... More

Madras Cements: Buy
INVESTMENTS can be contemplated in the Madras Cements' stock at about Rs 5,900. This represents a change in our stance on the stock. On June 29, Business Line recommended `booking profits' to capitalise on ... More

IL&FS Investment Managers: Buy
FRESH investments can be considered in the stock of IL&FS Investment Managers (IIM). The stock trades at Rs 25.30, at a price-to-earnings multiple of nearly 13 times its earnings for the year ended March 2003. However, ... More

TECHNICAL ANALYSIS

Rally still holds steam
Preferred view: The key market indices managed to rule strong last week. The index managed to move past the initial target zone of 1410-1420 that was mentioned last week. The move past the previous pivot high of 1431 is a positive ... More

Positive outlook for IVRCL
ITC (Rs 809.95): The stock was confined to a relatively narrow trading range last week. A break out of this range would be critical in imparting a decisive trend in the stock. The overall outlook continues to remain positive and a move ... More

Query corner
What is the outlook for Reliance Capital and Nicholas Piramal? — T.S.Prasad, Madhusuden & B.P.C.Sharma Reliance Capital (Rs 77.8): The stock could seek higher levels in the near term. A move to the Rs 105-110 range ... More

CARS

Palio NV: A good car that's got better
WE THOUGHT that the "neighbours envy, owner's pride" slogan was the oft-repeated refrain of a Desi TV brand. Until, we saw an abridged, revised version of the same in some of Fiat's news releases for the new ... More

Question `N' Auto
I am planning to buy a B segment car. On average, I drive 10 km daily. My choices are the new Palio NV, the Santro Xing and the Wagon R. I am for the Palio, but for the mileage part of it. Please explain the technical changes that have been ... More

LIFE INSURANCE

INSURANCE CORNER

ICICI Pru SmartKid — Unit-linked plan
TO CASH in on the growing popularity of unit-linked insurance schemes, ICICI Prudential has launched the unit-linked variant of its regular policy for children, SmartKid. How the plan ... More

STOCK MARKETS

Is an efficient market a random walk?
A STUDENT of finance posed this question: Do stock prices in an efficient market follow a random walk? We can answer the question by looking at the meaning of efficient market and random walk. Take Company X. If there ... More

INCOME TAX

When your daughter lends money...
I RETIRED in 2002, and since then I do not have any income. However, I sold a land for Rs 12.50 lakh in 2003. I had bought it in 1989 for Rs 65,000. I thereafter purchased a flat for my residence for Rs.21 lakh. For ... More

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