The Hindu Business Line : Sunday, May 15, 2005

Enfield Bullet has its unique aura
I AM planning to buy a new car. Though I had almost decided to buy the Tata Indica V2 Diesel, I still have a leaning towards the Tata Indigo, though it will cost more than the former. What I know is that Indigo has got a turbo diesel engine, ... More

INSIGHT

Large-cap Indian pharma — Effective drugs, but dosages may need tweaking
INVESTORS in the pharmaceutical industry may see in year-end results of frontline companies a bitter pill. Value-added tax (VAT) issues at home and pressure on pricing in key markets abroad had left the bottomline ... More

Benchmarking boosts turnover — Churn for the cream
IT IS just more than a year since Citicorp and ChrysCapital acquired large stakes, of more than 15 per cent each, in IVRCL Infrastructure. Citicorp does not hold a stake now and ChrysCapital, too, has started selling ... More

MUTUAL FUNDS

Stanchart plans equity fund

UTI Mutual has announced a dividend of 2.45 per cent (Rs 2.45 for every unit with a face value of Rs 100) for the Charitable and Religious Trusts and Registered Societies (CRTS) Fund. This is the first dividend payment under this fund for FY ... More

A volatile quarter (Jan-March 2005)
Stellar show by funds from SBI MF stable
AS THE markets went through a roller coaster ride in the January - March quarter, it became a difficult journey for the mutual funds industry, especially equity funds, which had a great show in the previous two ... More

Deutsche Alpha Equity: Invest in small lots
AN INVESTMENT may be considered in Deutsche Alpha Equity Fund, as it provides quality exposure to large-cap stocks. The fund has a fairly impressive track record when compared to benchmark indices such as Nifty and ... More

SPOTLIGHT
SBI Magnum Emerging Businesses Fund: Hold
INVESTORS can retain their holdings in Magnum Emerging Businesses Fund. Barely eight months since its launch, the fund has turned in a splendid performance. The fund's investment strategy envisages selecting companies ... More

Will my portfolio deliver?
I have initiated SIPs running over various time-frames in 2004 and 2005, in Franklin India Bluechip and Prima Fund, HDFC Top 200, HDFC Equity, HDFC Long Term Advantage and HDFC TaxSaver, DSP ML Top 100 and Opportunities Fund, HSBC Equity, ... More

STOCKS

ACC: Buy
AN investment may be considered in the stock of ACC with a one- to two-year perspective. A firm undertone in prices and robust growth in volumes are likely to drive earnings growth. As Holcim of Switzerland - the largest cement producer ... More

Indian Oil: Pare exposures
INDIAN Oil Corporation shareholders can consider reducing exposure to the stock at the prevailing prices. The short-to-medium-term prospects for the company appear none too good. Indian Oil is set to report a sharp ... More

Urea producers: Pare exposures
DESPITE a robust growth in fertiliser offtake, urea producers such as Indo Gulf, Chambal Fertilisers and RCF (Rashtriya Chemicals and Fertilisers) have reported higher sales, but stagnating profits from their ... More

Infosys: Accept
SHAREHOLDERS of Infosys Technologies can tender to the Sponsored Secondary American Depository Share (ADS) offering as there is an attractive 30 per cent premium to the domestic market price that could be capitalised ... More

Punjab Alkalies: Buy
INVESTORS can consider an investment in the stock of Punjab Alkalies and Chemicals, trading at about five times its per share earnings of Rs 9.8 for the fiscal 2005. Punjab Alkalies has increased its operating margin ... More

Shree Cement: Buy
INVESTORS can consider exposure in Shree Cement, as it appears well-placed to deliver earnings growth that could lead to a further re-rating of the stock. Buy the stock with a one/two-year perspective, especially on any ... More

TAXATION

What the Finance Bill tweaks mean
WHAT are the proposed tax rate changes in the Finance Bill, 2005 in the light of the amendments moved in the Lok Sabha? Reply The rates of tax applicable to individuals, Hindu undivided families (HUFs), association of persons (AOP) ... More

TECHNICAL ANALYSIS

Positive short-term outlook for Nifty
Preferred view: After a strong upward move on Monday, the index was confined to a narrow trading zone during the week. The near-term outlook remains positive and the Nifty is likely to move to the earlier mentioned target of 2030-2040. ... More

Crucial support beckons Reliance
Reliance Ind (Rs 536.2): The stock ruled firm on Monday and moved closer to the resistance level of Rs 558. After touching a high of Rs 555.7, the trend turned weak. The share price is ruling close to a crucial support level of Rs 533. ... More

Focus of the week
It could move to the target zone of the Rs 165-170 range in the near term. After a short-term consolidation, the stock appears to have commenced the next leg of the upward move last week. The strong rally on Thursday on the back of a surge in ... More

Query corner

CARS

Financing deals for your wheels
CHOOSING to buy the car of your dreams is the easiest part of the purchase process. Getting to the bottom of how to fund the buy is another matter altogether. Financing the car you have `zeroed in' on is a job by itself and lot more complex now, ... More

HCV/LCV/TRACTORS

Dump your negativity
A LINE that Van Morrison sings in a `You Make Me Feel So Free' lyric is, "I just need somewhere to dump all my negativity But baby you make me feel so free." I'm sure Airtech Ltd would have liked to chime in, especially after it won a case before ... More

HOUSING FINANCE

Home loan conversion, a mixed blessing
IT IS NOW more than a year since the interest rate honeymoon ended for Indian borrowers and banks. While the interest rate on government securities has since edged up by about 1.5 percentage points, thaton home loans has not gone up by as ... More

DERIVATIVES MARKETS

Futures: The discount effect
THE Nifty futures contract trades at a discount to the spot index. This phenomenon has confused many traders. Why? Suppose you buy one share of Infosys at Rs 2,000. You will have to pay the entire amount and take delivery of the stock. Assume ... More

Options guide

FIXED DEPOSITS

FD options
City Union Bank: Senior citizens can consider investing in the deposits with tenors of between six months and three years offered by City Union Bank. The bank offers 6 per cent for deposits maturing in six months, 7 per cent for ... More

IPOS

Nandan Exim: Avoid
INVESTORS can avoid the initial public offering of Nandan Exim ((Nandan). The company, a trader and exporter of fabrics, plans to foray into making grey fabric and denim to capitalise on the opportunities in the export ... More

Shree Ganesh Forgings: Avoid
AN investment in the initial public offering (IPO) of Shree Ganesh Forgings (SGF) can be avoided, as the risks and challenges in this offer outweigh the scope for capital appreciation in the medium term. Given the ... More

BOOKS

Soft skills beyond SOX drills
FORTY years ago, `investor relations' didn't exist. "It was financial public relations - public relations, but to a financial community," writes Bruce W. Marcus in `Competing for Capital', from Wiley (More

CARTOON