MARKETS
OPEN OFFERS
IPCL: Go for it
CONSEQUENT to the acquisition of a 26 per cent equity stake from the Government in Indian Petrochemicals Corporation Ltd. (IPCL), the Reliance group is making an open offer to the public shareholders of IPCL as per the terms of the Takeover Code. ...
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MUTUAL FUNDS
Sundaram Mutual mops up Rs 116 cr from 3 schemes
SUNDARAM Mutual has collected Rs 116 crore for the three open-ended schemes it opened for subscription recently. Addressing a press conference here, Mr T.P. Raman, Managing Director, Sundaram Newton Asset Management Company, said the response ...
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UTI's privatisation: Getting maximum value
THE ideas espoused by the Joint Parliamentary Committee (JPC) for the privatisation of the Unit Trust of India are unlikely to lead to any meaningful outcome for the Centre or UTI investors. If indeed the Government were to go ahead with the ...
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As Jardine Fleming quits, Sun F&C adds more muscle
JARDINE Fleming has bowed out of the Indian mutual fund scene following a host of others who have made similar moves in the last year or so. Jardine Fleming sold two schemes — JF India Bond Fund and JF Personal Tax Saver 1996 with aggregate ...
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HDFC Growth Fund: Hold
INVESTORS in HDFC Growth Fund can stay with the Fund. After a disappointing show in 2001, its performance has improved significantly in the last six months. Fresh investments, however, need not be considered now. It may be better to allow the ...
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Zurich India Tax Saver: Hold
FRESH investments can be contemplated in the tax savings scheme, Zurich India Tax Saver. The fund has a portfolio that could deliver good value when the markets recover. It has an impressive track record across various time horizons, has turned ...
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Equity schemes: Good timing
SUNDARAM Mutual Fund launched two equity schemes in June. HDFC launched an index fund in July. Alliance has obtained SEBI permission to launch Alliance Frontline Equity Fund. Several more by other asset management companies may be in the offing. ...
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Pioneer ITI Internet Opportunities Fund: Switch
INVESTORS in the Pioneer ITI Internet Opportunities Fund can switch to a diversified equity fund with a consistent track record of good performance. Since the meltdown in technology stocks, the fund has acquired a diversified character, investing ...
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UTI Software: Pare exposures
INVESTORS in the UTI Software Fund can contemplate cutting exposures, even if it means taking losses. It may be better to prune exposures and switch to more focussed tech or diversified funds, depending on risk preferences. The portfolio appears ...
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STOCK MARKETS
Volumes vs liquidity
SOME investors believe that high trading volumes in a stock signify good liquidity. That is not so! This article addresses the differences between liquidity and trading volumes. Liquidity refers to the ability to buy/sell a stock at close to ...
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The oracle debacle
WHEN it comes to recommending, there are as many recommendations as there are analysts! A first-time reader of an analyst's report will invariably be perplexed with the variety of jargon in the analysis. This is especially true of investors who ...
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DERIVATIVES MARKETS
Trading interest wanes
INDEX Options: Trading interest in index options continued to languish during the course of the week. As was the case last week only one new index call managed to find a place among the list of top traded calls. This week the index puts ...
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COMMENTARY
Dr Reddy's not doing well
MARKETS this week were struck by tremors from the incidents of scuttled clinical trials of Dr Reddy's diabetic molecule and the harassment lawsuit filed by an ex employee against Infosys's marketing head, Phaneesh Murthy. Besides the hit that ...
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Pare holdings in Digital Global
THE stock market sentiment was distinctly bearish during the week gone by. Developments concerning Infosys Technologies acted as a drag on the company's share price. Added to this, the weak trend in Hindustan Lever and Reliance Industries ...
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Further downside risk in HLL, ITC
ITC (Rs 639): As mentioned last week, the decline below Rs 641 imparted bearish trend in the scrip. The improved first quarter performance imparted some buoyancy in ITC on Friday. However, the overall outlook for the scrip remains weak. ...
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Stocks take a battering
IT was bound to come sooner than later. For at least three weeks the Indian stock markets seemed more or less immune to the falling stock prices in key global markets. Sure enough, they did not move up but they at least managed to hold their ...
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Nasdaq: No relief in sight
IT was yet another week of subdued market activity at the American stock markets. Though the Dow Jones Industrial Average and S&P 500 managed to record modest weekly gains, the overall trend and the underlying market sentiment was negative during ...
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RECOMMENDATION
Playing it safe in forecasting — The whys of more buys
ASK an equity analyst whether or not a particular stock is worth buying and an affirmative answer is most likely. Or so it would seem if a cross-section of recommendations put out by analysts is anything to go by. A look at the recommendation ...
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Hindalco-Indo Gulf restructuring — Creating a stronger alloy?
THE Aditya Birla group, under Mr Kumar Mangalam Birla, has finally laid the foundation for the creation of a non-ferrous metals powerhouse in India. In the second major of restructuring within the group, ...
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Ingersol Rand: Hold
INGERSOLL Rand appears to be one of the early beneficiaries of the economic revival. It has been recording a double-digit growth in topline for the past few quarters. For the quarter ended June 2002, the results were in line with expectations. ...
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Valuation of Indo Gulf's copper business
Recommendation: Hindalco: Buy (Medium term)
Indo Gulf Corporation: Hold
Indal: Hold
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HDFC: Sell
ROBUST retail demand for housing loans re- sulted in HDFC regis- tering a healthy growth in business during the first quarter (April-June) of financial year 2002-03. HDFC's disbursements in its core business of housing loans grew 31 per cent ...
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Indian Rayon: Cut exposures and re-enter at lower level
SHAREHOLDERS ofIndian Rayon canconsider cutting ex- posures and re-entering the stock at lower levels. The company and the Aditya Birla group are in the midst of a major restructuring exercise. As for Indian Rayon, more changes to its ...
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Asahi India Safety Glass: Buy
THE stock market the world over is passing through a turbulent phase. Besides the global stock market meltdown, concerns about sub-normal monsoon and its impact on agricultural and industrial growth have also played a part in denting domestic ...
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Birla 3M: Time for buy
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