The Hindu Business Line : Sunday, July 17, 2005

`Bull markets are more challenging than bear phases' — K. N. Siva Subramanian, Sr V-P, Franklin Templeton
K. N. Siva Subramanian, who has managed Templeton's flagship funds — Franklin India Bluechip Fund and Franklin India Prima Fund — for over a decade, likes to maintain a low profile. You won't find him on TV expounding on the ... More

It is mid-caps for the long term
MID-CAP stocks have been lying low in the recent times after racing ahead of large-caps over the past couple of years. Many experts also caution about their high valuation levels. So how should an investor allocate his ... More

INSIGHT

`Synergy' report unlikely to energise oil stocks
The recommendations of the Synergy in Energy Committee are likely to act as a further dampener on depressed oil stocks. While the panel's views on mega mergers has put the brakes on speculative interest, its suggestion to set up a price stabilisation fund seems to hark back to the era of administrative control when, in fact, the efforts should be towards freeing the industry. More

MUTUAL FUNDS

DSP ML Equity Fund: Hold
INVESTORS can stay with DSP ML Equity Fund, which has delivered a return of about 70 per cent over the past year. This places it in the upper quartile of the performance charts. The fund has a reasonably good track record over a three-year ... More

SPOTLIGHT
Alliance Basic Industries: Sell
INVESTORS in Alliance Basic Industries may reduce exposures following its indifferent performance over the past year, especially in the last six months. Investors could consider a switch to SBI Mutual's Magnum Contra Fund, which has a superior ... More

PORTFOLIO MOVES
Reliance Mutual Fund
RELIANCE Mutual Fund, which has an aggressive fund management style, has made several changes across its portfolios in June. Business Line takes a look at how the fund house has re-jigged its portfolios at a time when markets are at their ... More

FUND TALK
Suggest a close-end fund
Buying a close-end fund just because it is available at a discount to the NAV doesn't guarantee that you will make a reasonable return on your investment. More

PruICICI launches Infrastructure Fund

PruICICI Mutual is launching a sector fund, PruICICI Infrastructure Fund. The fund will invest in sectors such as telecom, power, coal, and construction. The minimum investment amount is Rs 5,000. Dividend and growth options are available. ... More

STOCKS

Infosys: Buy
INVESTORS can consider taking fresh positions in the Infosys Technologies stock at the current price levels. In our view, the post-earnings announcement weakness in the stock represents a buying opportunity for ... More

Macmillan: Buy
INVESTORS with a long-term investment horizon can consider taking exposure to the Macmillan India stock. At the current price of Rs 470, the stock trades at a multiple of 17 times its 2004 (year-ended December) per ... More

Centurion Bank-Bank of Punjab — Bank on the merger
Centurion Bank: Hold
Bank of Punjab: Hold More

Thomas Cook: Hold
SHAREHOLDERS can retain their holdings of the Thomas Cook stock. The current valuations are rich, at about 33 times the expected consolidated per share earnings for the year ending October 2005; the valuation is also ... More

NDTV: Hold
SHAREHOLDERS of New Delhi Television (NDTV) can retain their holdings, as there is scope for appreciation linked to fundamentals and enhanced institutional investor interest. The company's earnings card for the first ... More

Aegis Logistics: Buy
AN investment may be considered in Aegis Logistics, as growth prospects appear bright. As a focused play now in the logistics space, the company is well placed to capitalise on growth opportunities in the business of handling, storage and ... More

AUTOMOBILES

New variants is always on the cards
I AM 23 and work for a software company in Bangalore. I have not used a geared bike and have all along been commuting on a TVS Scooty. I weigh 50 kg and am 5 feet 8 inches tall. Which bike in the entry-level mart ... More

CARS

Get big with Bentley
LEGENDS are alive when they are no longer around. Want to leave a mark? One way to do this is to just own the latest offering from Bentley, which has now launched its Continental Flying Spur in India after introducing ... More

Fiat slashes prices of the Palio
Fiat has slashed the prices of its flagship model Palio. The lower-end is offered at Rs 3.64 lakh, while the top-end NV Sport comes at Rs 4.39 lakh. The 1.2-litre ELX comes at Rs 4.15 lakh, lower by Rs 22,000. Will a lower price make a world ... More

TWO/THREE WHEELERS

Libero G5: Leaning to lifestyle biking
THERE is frenzied activity on the Yamaha assembly-line. Keen on refurbishing its image and close on the heels of appointing Bollywood heartthrob and model John Abraham as its brand ambassador, Yamaha has been rolling ... More

Spring-in Spring for the CT 100
Speed breakers! No backbreakers. Bajaj has come out with a unique suspension system, which purports to reduce the jams on your vertebrae. Bajaj's new CT 100 comes equipped with a spring-in-spring (SNS) suspension at its rear. The suspension ... More

ECONOMICS

Of monopolies and prices
WORLDSPACE, a satellite radio broadcaster, has hiked its annual subscription by 50 per cent. My friend says the price hike does not surprise him. His argument is this: WorldSpace is currently a monopolist in India. And monopolists charge unfair ... More

STOCK MARKETS

A roller coaster ride
MARKETS witnessed a roller coaster ride through the past week. Volatility continued to dominate the bourses with the Sensex and Nifty gaining less than 1 per cent over the week. It has nevertheless been an uninterrupted rally for 11 straight ... More

DERIVATIVES MARKETS

F&O POINTERS
Range-bound movement likely
Nifty outlook: Though the Nifty remained volatile last week as expected, it could not break the recommended barrier on either of the directions. As a result, the recommended strategy - long straddle i.e. buying 2160 puts @ Rs 32 and ... More

Options guide
Call option: A call option gives the buyer `the right but not the obligation' to buy the stock at a specified price on a future date. Put option: A put option gives the buyer `the right but not the obligation' to sell a stock ... More

CREDIT CARDS & DEBIT CARDS

HDFC Bank's Health Plus Card
IT HAS become commonplace for credit card issuers to throw in an insurance cover as a freebie. In most cases, the package is rarely substantial enough to cover the losses or expenses of, say, an accident or hospitalisation. HDFC Bank's `Health ... More

FIXED DEPOSITS

FD OPTIONS

Wheels India FD attractive
Wheels India: An investment can be considered in the three-year fixed deposit option of Wheels India. The rate of 7.5 per cent on offer is attractive. The cumulative option is preferred, as it would offer a slightly higher yield ... More

INCOME TAX

FAQs on Fringe Benefit Tax
An employer listed in Section 115W is liable. The term employer is defined in Section 115W to mean a company, a firm, an AOP or BOI, whether incorporated or not but excluding a fund or institution eligible for exemption under Section 10(23C) or ... More

Is gain on sale of shares exempt if transaction tax has not been charged to the sale?
I SOLD some shares on September 15 and 16, 2004. I held these shares for more than a year. I was under the impression that the gain would be exempt. However, I have come to learn that there will be no exemption in respect of the gain since the ... More

IPOS

Infrastructure Development Finance Company: Invest at Rs 34
INVESTMENTS can be considered in the initial public offer of Infrastructure Development Finance Company. Considering the growth prospects and the fundamental strengths of the company, the pricing is not demanding. If ... More

SEBI GUIDE
Equity offers: Terms you must know
Cut-off price: Book building issue, the issuer is required to indicate either the price band or a floor price in the red herring prospectus. The actual discovered issue price can be any price in the price band or any price above the floor ... More

BOOKS

Learn about stocks through a love story
INVESTORS like you may be the least interested in romance. But "Dollar Wise Penny Foolish" by Siva Nara and Priya Raghavan, published by Wise Pen Corp (www. dollarwisepennyfoolish. com) is a love story about stocks for `aspiring millionaires', ... More

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