The Hindu Business Line : Sunday, June 02, 2002

IDBI Principal Income Fund: Hold/Invest small amounts
INVESTORS in the IDBI Principal Income Fund can stay invested, given its reasonably good track record, though the fund has been functioning for less than two years. Its tenure to date has been characterised by an extremely favourable environment ... More

Templeton India Growth Fund: Invest
GIVEN the decline in broad market levels, this is a good time for investors to build cautious exposures in equities. The Templeton India Growth Fund (TIGF), an equity fund, seems to qualify as a good investment candidate for those looking for ... More

Prima Plus: Hold
INVESTORS in Prima Plus can stay invested. But those looking for diversified funds, especially when stock prices are at lower levels, need consider this fund only if they already have exposures to diversified funds that focus on frontline stocks ... More

Pioneer ITI Internet Opportunities Fund: Switch
INVESTORS in the Pioneer ITI Internet Opportunities fund could consider switching their investments to a diversified equity fund with a good track record over the past five years. Though its name suggests a technology focus, just over half of ... More

US-64: Repurchase by UTI in June too
THE Unit Trust of India (UTI) has extended the repurchase facility under the Special Liquidity Package for US-64 to June 22. The book closure will be between June 24 and 30. The repurchase price applicable for June is Rs 10.90 per unit. The daily ... More

Ads should tell the real story
THE changes effected by Securities Exchange Commission of the US to rules governing advertisements by mutual funds are interesting and revealing. Interesting aspects of the amendment relate to:

Disclosures relating to charges and ... More

STOCK EXCHANGES

`Investors have confidence in NYSE companies' — Mr Georges Ugeux, Group Executive Vice-President, International, NYSE
THE New York Stock Exchange's Group Executive Vice-President, International, Mr Georges Ugeux was recently in India scouting out for potential future listings. He spoke to Business Line about various ... More

DERIVATIVES MARKETS

Uncertainty dogs bourses
OVERALL Trends: With war fears looming large the political situation continues to remain in a state of uncertainty. This led to some sell off in the cash markets and the negative sentiment could well persist into the future. On a ... More

REGULATORY BODIES & RULINGS

SEBI Act set to be amended
THE Finance Ministry is set to finalise the amendments to the Securities and Exchange Board of India (SEBI) Act, following the ironing out of differences with the Department of Company Affairs over the issue of granting search and seizure powers ... More

COMMENTARY

Fundas tell only half the story
LOSSES in portfolio value in recent years are testimony to the fact that, even at the best of times, predicting stock price behaviour is not easy. And these are anything but the best of times. The global outlook post-September 11 and local ... More

Behind the prices and methodology
WHAT do stock prices tell us? Do they reflect a company's future earnings potential or its past performance? It is important to understand what the stock price represents before making an investment decision. One of the earliest investment ... More

Selling pressure from FIIs
IT was yet another week of selling pressure and stocks ended the week lower. Narrow benchmark indices such as the S & P CNX Nifty and BSE Sensitive Index as well as broad market indices covering a larger number of stocks ended lower. The pressure ... More

Weak trend in pivotals
ITC (Rs 613): As mentioned last week, the scrip enjoys a crucial support at the Rs 570-575 band. A close below Rs 570 could impart lead to a sharp downside movement. As of now, both the trend and the momentum are still bearish. It is, ... More

Pare exposure in Digital GlobalSoft
WITH no signs of an improvement in the Indo-Pak standoff, the stock market sentiment was dampened further during the week gone by. The Sensex closed on a weak note on all the five trading days of the week. The subdued trend in technology heavy ... More

Adlab Films gains 16 pc
HMT: The machine tool manufacturer has made substantial gains on the bourses last week unaffected by war clouds that have affected the general market sentiment. The stock shot up by 76.7 per cent during the week from Rs 15.90 to Rs 28.10. ... More

Nasdaq: Market sentiment remains bearish
THE trading activity last week was curtailed to four days on account of market holiday on Monday. The stock market sentiment continued to remain negative with all the three-benchmark indices closing the week on a subdued note. Growing concerns ... More

RECOMMENDATION

United Breweries: On a high
Recommendation:
Higher risk preference: Buy
Low risk preference: Hold and cut exposures at around Rs 175-180 More

HLL: Price levels offer opportunity
As a key index constituent, the Hindustan Lever stock has been battered by profit taking as apprehensions of war gathered steam over the past week. The stock is now trading at Rs 185, having fallen a third from a high of Rs 262 reached in March ... More

HPCL: Hold/Buy on declines
A STRONG performance in the fourth quarter has bailed out Hindustan Petroleum Corporation Ltd (HPCL) for fiscal 2001-02. But for the sharp rise in earnings during the January-March 2002 quarter, HPCL would have reported a much worse ... More

Kinetic Motor: Pare exposures
THE scooter-maker Kinetic Motor Company is losing speed, as evident in its performance for the year ended March 2002. A subsidiary of Kinetic Engineering, Kinetic Motor Company is better known as the manufacturer of the Kinetic brand of automatic ... More

Stay with these papers for now
Recommendations:
Ballarpur Industries: Hold/Avoid fresh exposures
TNPL: Hold/Buy on declines
West Coast Paper: Hold
JK Paper: Hold
Seshasayee Paper: Hold More

Aventis CropScience: Pare exposures
THE stock price of Aventis CropScience India has appreciated around 80 per cent since September 2001, from around Rs 84 to Rs155. The recent surge in stock price can be attributed both to improved financial performance and to speculation about ... More

PNB Gilts: Hold
SPECULATION about future interest rate movement takes up a lot of space in the financial newspapers today. The Government suggests that policy measures will push for a soft interest trend, but the financial market seems to think otherwise. In ... More

RIGHTS ISSUES

Kopran: Unattractive
KOPRAN has approached shareholders with a rights issue of equity in the ratio of one share for every two shares held. The rights issue has been priced at Rs 40 per share, and the company hopes to raise Rs 28.60 crore. Following the rights ... More

Stock Quotes
SE Diary

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Looking back
May. 26-Jun. 1
Listed PSUs make Govt richer by Rs 45,000 cr

Sensex sheds 97 points as Musharraf douses sentiment

Foreign shareholding in India Inc ebbs

i-flex IPO to open on June 5 at Rs 530