MARKETS
MUTUAL FUNDS
July-September quarter: No-show for mutual funds
THEY are the top performers, yet there is nothing that would make long-term investors beat a path to their doors. Simply because, barring the two — Master Value Unit Plan and IDBI Principal Tax Saving Fund — that have done ...
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Income funds: Modest returns, hectic flows
FOR income schemes of mutual funds, July-September 2002 has been better than the immediately preceding quarter. The returns, on average, were 2.6 per cent. This is better than the low 1.6 per cent of April-June but falls short of the attractive ...
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K-Gilt Savings Plan (Growth): Switch
THE K-Gilt Savings Plan (Growth) returned 8.5 per cent since last September. Unit-holders who can take the risk can switch to K-Gilt Investment Plan (Growth). Portfolio: As of August 31, 2002, the Savings Plan had a third of its ...
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MF flows in August — Pvt sector MFs cross Rs 50,000 cr
THE assets under management of private sector mutual funds have crossed Rs 50,000 crore in August. At the end of August, these funds had assets of Rs 51,820 crore with a share of 48.2 per cent. The following are the other pointers from fund flows ...
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UGS 10000: Switch
INVESTORS in UGS 10000, the MNC-oriented equity fund from Unit Trust of India, can switch to a diversified equity fund with a good track record, though the fund is among the better performers during the past quarter. The fund has invested in a ...
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Templeton MIP (Monthly/quarterly): Hold
INVESTORS in the Monthly Dividend and Quarterly Dividend Options of Templeton Monthly Income Plan can stay invested as the fund has delivered steady returns over the last two and half years. The fund has managed returns of 10.05 per cent in the ...
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ICICI Bank: Attractively priced
FRESH investments can be considered in the stock of ICICI Bank with a long-term perspective. The stock holds the potential to deliver returns commensurate with the risk over the long-term. Suitability: Most banking sector stocks ...
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IDBI-Principal Tax Savings Fund: Hold
WITH an NAV appreciation of 40 per cent over the last year, IDBI Principal Tax Saving Fund is among the top-performing tax saving schemes of last year. The scheme has had a reasonable, though not impressive, track record in the four years ...
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Continuous erosion in gilts
INFLOWS into mutual fund debt schemes focussed on government securities turned negative since April this year. Since April 2002, the assets under management of gilt schemes declined by Rs 191 crore. Outflows from gilt schemes exceeded inflows ...
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STOCK MARKETS
Payment, delivery in a day
The Bombay Stock Exchange has asked its members to make payment and deliver securities within one working day of the payout settlement cycle, instead of two working days now. This follows the introduction of the T+3 (trading day plus three days) ...
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DERIVATIVES MARKETS
Futures and options to lower risk
FUTURES and options can be effectively combined to create portfolios that carry lower risk. How? Suppose you expect Satyam to move up in the spot market. You could either buy futures or calls on Satyam. The advantage of buying futures is that ...
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Satyam calls lose value
THE stock market overcame the initial nervousness caused by the terrorist attack on a temple in Gujarat during the week. However, the market stuck into a narrow groove while the major indices finished the week in positive territory. The BSE ...
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Taxability of profits from trading in futures/options
I WOULD request you to clarify whether profit/losses on transactions in futures & options is to be classified as speculative gain / speculative loss or otherwise according to the India Income Tax Act. — Chandra Ramesh THE sum and ...
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COMMENTARY
Positive short-term trend in Infosys
NIFTY (976.45): The overall outlook for the Nifty does not appear all that bullish. Though there has been some recovery in the last few days, the overall trend in the bigger time frame is yet to turn bullish. On the upside, the Nifty could ...
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Book profit in NIIT
AFTER some weakness in the first couple of days, the market sentiment perked up in the latter half of the week. The sharp recovery in technology stocks such as Infosys, Satyam and HCL Technologies imparted some buoyancy. With quarterly earnings ...
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Increased FII limit propels Balaji Tele up 8 pc
BALAJI Telefilms: The stock went up by 8 per cent to Rs 112.35. The company had announced a stock split of 1:5 recently. The uptrend should be seen in the light of the fact that the RBI has approved the hike in FII limit in the stock to 40 ...
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Markets last week: Another weak bout
IT was yet another lacklustre week at the bourses. Dogged by the slowdown in the disinvestment plans of the Government in the oil sector majors — BPCL and HPCL, gloom in the global markets and the possibility of a US — Iraq war ...
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Nasdaq: Weak outlook
THE American stock market sentiment turned bearish after a mid-week recovery. Corporate earnings guidance played a crucial role in influencing market movement during the week. The markets tumbled on Friday after Philip Morris and Wyeth reduced ...
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RECOMMENDATION
Keep the pack
ITC: Buy
Godfrey Philips: Hold
VST Industries: Hold
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Kinetic Engineering: Hold
WITH A spate of new product introductions, the Kinetic group is revving up. Kinetic Engineering has introduced a four- stroke motorcycle, Boss, targeted at the economy segment, while Kinetic Motor has unveiled Zing and Nova. The consumer ...
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Tata Tea: Buy
AFTER shooting up to Rs 212 in June 2002, the Tata Tea stock has fallen sharply in recent times to hover at Rs 155. The stock now trades at around 12 times its 2001-02 earnings. The price earnings multiple would be lower at eight times if ...
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Moser Baer: Buy
THE Moser Baer stock appears to be a good exposure for investors with a investment horizon of a year or longer. The Moser Baer stock trades at a price-earnings multiple of around five times its annualised per share earnings of Rs 44.96 for ...
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April-June for Nifty cos — Demand pick-up to the rescue
IN the past few quarters, Corporate India had banked on cost-cutting and savings on interest costs to boost the bottomline. A study of the performance of the 50 companies comprising the S&P CNX Nifty index indicates a slight improvement in ...
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LIC Housing Finance: Hold/Avoid fresh exposures
IN the backdrop of a boom in the housing finance business, LIC Housing Finance (LICHF) turned in an impressive performance for the first quarter (April-June) of the financial year 2002-03. The company registered a post-tax profit of Rs 33.59 ...
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