The Hindu Business Line : Sunday, August 04, 2002

`Speed-e' and secure trading
SPEED-E is an Internet Infrastructure that enables the Depository Participants (Participants) provide depository services to their clients. The users of SPEED-e (offered by National Securities Depository Ltd) can also monitor the status of the ... More

MUTUAL FUNDS

Systemic failure cause for lapses: J P Morgan
J P Morgan India has said the technical lapses found by SEBI in the transaction of Jardine Fleming India Broking (now part of J P Morgan group) were largely the outcome of the systematic features experienced at a time when electronic trading was ... More

Cleaning up the UTI
THE Unit Trust of India's decision to make a full disclosure of its investment portfolios comes at a crucial time for the mutual fund behemoth. It is a little more than a year since the UTI announced a comprehensive bail-out package for investors ... More

DSP Merrill Equity: Sell
INVESTORS in DSP Merrill Lynch Equity Fund may contemplate paring exposures in the fund and investing in other diversified funds with a better track record of returns. The fund has had a rather chequered run so far. It has underperformed the ... More

Restructuring the US-64 — Equity still a bugbear
WHILE the UTI has made noticeable progress on cleaning up its debt portfolios, the equity portfolios have proved much more difficult to handle, especially given the moribund equity market conditions. In end June 2002, the UTI's flagship scheme, ... More

Flows in June: UTI-pvt MFs gap narrows
THE assets under management of private sector mutual funds collectively are set to go past those of the Unit Trust of India (UTI). By end June, the gap had narrowed to just Rs 578 crore. Though individually UTI is still ahead of any private ... More

IDBI Principal Equity Fund: Hold

Pioneer Taxshield: Hold

UTI MIPs: Seeking capital

Sundaram Gilt Fund: Avoid

STOCK MARKETS

High volumes, low liquidity
IN response to last week's article, a reader wanted to know as to when a stock will witness high trading volumes and yet have poor liquidity. This article addresses one such instance. High trading volumes and low liquidity will occur, ... More

DERIVATIVES MARKETS

Tata Engineering, BPCL remain active
INDEX Options: There was some improvement in trading interest in index options during the course of the week. Three new call options managed to find a place among the list of top-traded calls. In relative terms, index puts were less active ... More

In-the-money covered call: A better option
COVERED call is a strategy where an investor buys a stock and simultaneously writes a call option on that stock. The idea behind such strategy is that, in case the stock rises sharply after it is written, any loss from the option position will be ... More

FOREIGN INSTITUTIONAL INVESTORS

FII, NRI holdings in Hughes down
MUMBAI: The holdings of foreign institutional investors, non-resident Indians and people of Indian origin in the capital of Hughes Telecom (India) Ltd have fallen below 47 per cent. The Reserve Bank of India on Saturday said that it ... More

INTERVIEW

`Disciplined process makes a big difference' — Mr Nilesh Shah, CIO, Templeton India Asset Management Company
AFTER a chequered start, the performance of Templeton India's funds has improved in the last couple of years when the conditions for equity investments have not been encouraging. Business Line recently spoke to Mr Nilesh ... More

COMMENTARY

Positive near-term outlook for HLL
ITC (Rs 674.5): After dropping to a low of Rs 611.55 on Wednesday, the scrip witnessed a sharp spurt on Friday. This rally has, however, not negated the overall weak outlook for ITC. In the longer time frame, only a move above Rs 783 would ... More

Markets last week: On a tight leash
THE stockmarkets continued to be gripped by bearish sentiment during the week. The BSE Sensex dipped below the psychological 3000 point mark and stayed below that level at the end of the week. The fate of the monsoons dominated the state of ... More

Nasdaq: Optimism fizzles out
AFTER a strong opening, the sentiment at the American stock market turned bearish towards the close of the week gone by. Led by General Electric Company, the US stock markets staged a sharp spurt on Monday. All the three benchmark indices managed ... More

Trim holdings in Polaris
CONCERNS pertaining to sub-normal rainfall in many parts of the country coupled with the subdued trend in index stocks resulted in a volatile movement in the Sensex. The market touched a new low of 2932 points on Wednesday and has since recovered ... More

Kodak gains on open offer announcement
WIDIA India: The cutting tool manufacturer witnessed hectic selling pressure during the week. The stock had been on a steady uptrend on hopes that change in management at the global level would trigger an open offer. But during the week the ... More

RECOMMENDATION

Dr Reddy's Laboratories: Buy
DR. REDDY'S LABORATORIES' (DRL) share price has declined by about 12.5 per cent over the last month to trade around Rs 875. The slide appears to have been caused largely by an adverse development associated with DRL's research programme to ... More

Madras Cements: Sell
SHAREHOLDERS of Madras Cements can contemplate paring exposures in the stock now. However, given its strong fundamentals, re-entry could be contemplated at lower levels in the Rs 3,400-3,600 range. The company continues to offer one the better ... More

ABB: Hold
TRADING at around Rs 277, the ABB stock could form a portfolio with a relatively medium to high-risk profile. The stock has been relatively active during this year posting absolute gains of around Rs 72 over the last seven months. However, ... More

Balaji Telefilms: Hold
FRESH investments can be avoided in the stock of Balaji Telefilms. The stock now trades at valuations that are by no means rich. Nevertheless, given the nature of the entertainment industry, it would be better to consider investment when the ... More

Thermax: Buy
THERMAX is slowly re-covering from the deep trouble it was in. After dipping to a year low of Rs 63, its share price appreciated over 100 per cent and is now trading at around Rs 136. For an investor with a medium to long-term horizon, the stock ... More

Bearings cos: How do they stack up?
Recommendations
SKF Bearings: Book profits on uptrend
NRB Bearings: Book profits on uptrend
Fag Bearings: Hold More

CG Igarashi: Strong fundamentals
The weak stock market sentiment and the global economic slowdown have pushed the market capitalisation of quite a few companies to lower levels in the recent months. However, a few fundamentally sound companies with a relatively stable business ... More

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