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Sunday, October 20, 2002

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Grasim open offer for L&T — Right in letter, wrong in spirit
SHAREHOLDERS of Larsen & Toubro have every reason to be upset at the manner in which control in their company is set to pass to the Aditya Birla group. They may have no quarrels with the would-be acquirer. But what would rankle is the ... More

MUTUAL FUNDS


Birla Balance: Switch
UNITHOLDERS in Birla Balance can consider selling their holdings and may switch to other balanced funds with a better track record. The performance of this fund, launched three years ago, has not been impressive, especially compared to some of ... More

Sundaram Tax Saver: Hold
INVESTORS in Sundaram Tax Saver, the open-end tax saving scheme can hold on to their investments. The three-year lock-in period for initial investors in the scheme is due to expire shortly in November 2002. But the scheme has delivered reasonable ... More

DSP Merrill Funds: Getting a retail tilt
AT A time when mutual funds have been trying to make their features attractive for large investors — corporate sector and high-net-worth individuals — DSP Merrill Lynch Mutual Fund has announced changes to its schemes' features. Some ... More

Index funds revisited
IN THE last three months, index funds have topped the performance charts. With the Sensex also trading below 3,000 levels, it appears an opportune time to invest in index funds. That, however, may not be advisable. Consider this. In the last ... More

UTI Services: Hold
INVESTORS in the UTI Services Fund can stay invested. The fund has a fairly satisfactory track record and the present level of stock prices may not be the right time to contemplate profit-booking. The present portfolio appears to hold potential ... More

STOCK MARKETS


The art of buying low, selling high
WHICH investor doesn't dream of "buying low and selling high"? But how many end up doing the opposite? This week we met a Bangalore based chartered accountant who has managed to beat the equity market. Meet G.V.Sunder, who expects on an ... More

DERIVATIVES MARKETS


Using futures/options: Corporate actions, adjustments
HOW the adjustments for dividends declared is made in the option price and futures price? The basis for any adjustment for corporate actions shall be such that the value of the position of the investor, on the cum and ex-dates for the ... More

Tech stocks boost market sentiment
EQUITIES inched up during the course of the week, taking the market indices a few notches higher. The BSE Sensex ended the week ended October 18, 2002 at 3,009.76 points, about 14 points higher than the closing value for the week ended October ... More

COMMENTARY


Further upside in Infosys
Nifty (971.65): Last week's view that the index would touch the 1000-point mark continues to remain valid. A move above 984 would be an early indicator of a rally towards the above-mentioned target price. On the other hand, a close below ... More

Pare holdings in Rolta India
WHILE the Sensex managed to eke out a marginal weekly gain, the market action last week does not portray a very bullish picture. The entire rally from the recent low of 2916 does not indicate the start of a new bullish phase at the market. It ... More

Nasdaq: Positive outlook
THE stock market sentiment was buoyed by the flow of positive earnings number from key American companies. The likes of IBM, Microsoft, Eastman Kodak, Citigroup and Bank of America reported improved quarterly financial performance last week. ... More

Grasim's open offer propels L&T up 9.7 pc
LARSEN & Toubro: The stock price of the cement Major went up this week by 9.7 per cent to end at Rs 188. The run up has to be seen in the backdrop of Grasim Industries Ltd's open offer to pick up another 20 per cent stake in L&T at Rs 190 ... More

Software stocks in focus
BUOYED by some encouraging earnings performances, the BSE Sensex ended the week on a positive note. The BSE Sensex closed for the week at 3009.76 points, 13.99 per cent higher than the previous week. Clearly, software was the flavour of the ... More

RECOMMENDATION


Grasim: Engineering synergy
Grasim/Indian Rayon: Hold
L&T: Hold ahead of open offer
More

Software companies: Investment outlook
EVEN though there are clear indications that offshore outsourcing is getting more strategic and mainstream, the valuations of frontline software companies are demanding for the present. Infosys and Wipro have been bolstered by strong revenue ... More

HDFC: Avoid fresh exposures
A FAVOURABLE environment for the housing finance sector helped HDFC register an impressive performance in the first half (April-September) of the financial year 2002-03. A potent combination of enhanced tax benefits, declining interest rates and ... More

Ranbaxy Laboratories: Sell
ROBUST growth in the US operations helped Ranbaxy register an impressive financial performance in the first nine months (January-September) of 2002. High stakes strategy... The highlight of Ranbaxy's ... More

Karur Vysya Bank: Hold
SHAREHOLDERS of Karur Vysya Bank can hold on to the stock, that has just gone ex-rights and ex-bonus. The stock has now closed at Rs ** after the record date. Post-rights and bonus offer, the bank's equity capital is slated to go up to Rs 18 ... More

Lakshmi Auto: Buy
QUITE a few companies have benefited on account of the robust demand for motorcycles. Lakshmi Auto Components is one such company that has seen its performance improve owing to pick-up in motorcycles sales, especially at TVS Motors end. ... More

Wipro: Cut exposures
EXISTING shareholders of Wipro can capitalise on the run-up in the stock over the past ten days (since the announcement of the Infosys earnings performance) and over the past couple of months to book profits. After the announcement of its second ... More


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