The Hindu Business Line : Sunday, November 03, 2002

Alliance Basic Industries: Hold
IN THE backdrop of the encouraging performance of Alliance Basic Industries in the last 12 months, investors can continue to hold on to their units. Additional investments to existing holdings, however, need not be made in this sector-specific ... More

Morgan Stanley Growth: Hold
INVESTORS in the close-end Morgan Stanley Growth Fund can stay with the fund for now. It may be better to wait for a rally in stock prices (which may take quite some time) to consider paring exposures. The fund's present portfolio appears to hold ... More

UTI break-up gets under way
THE break-up of the Unit Trust of India (UTI) into two — UTI I and UTI II — has been pushed through with the Government of India promulgating an ordinance for this purpose. The assets and liabilities of the schemes will be vested in ... More

Mastershare 1986: Hold
INVESTORS in Mastershare 1986, the close-ended equity fund from the Unit Trust of India, may hold on to their investments for now. With the equity market at relatively low levels, and redemption just a year away, this appears to be a bad time to ... More

UTI staff oppose bifurcation
THE All-India Unit Trust Staff Joint Action Committee today said that employees of Unit Trust of India (UTI) plan to protest against the bifurcation of the institution into UTI I and II. In a press release, the Committee has said that employees ... More

Distorting `options' in equity funds
BIRLA Advantage is perhaps the first among diversified equity funds to consider investing in options. Mutual funds were allowed to invest in futures and options more than a year back. But, apart from an index fund, none had ventured to invest in ... More

KM K-Tech: Hold
THE performance of Kotak Mahindra K-Tech has improved significantly in the past 12 months, after the changes in the scheme's fundamental attributes in January 2002. Investors can continue to hold on to the fund as the valuations of a ... More

DERIVATIVES MARKETS

Tech stocks remain in focus
THE spot market ended the week on a firm note following investors buying into blue chips that seemed cheap after the sharp decline towards the last week of October. The BSE Sensex ended the week at 2,951 points, about 2.60 per cent higher than ... More

Using futures/options: The probability game
IN the purest sense, trading is a gamble, more so in the derivative markets. For instance an option price is derived from the movement of the underlying asset, which by itself is a random process. There are several strategies that one can use to ... More

REGULATORY BODIES & RULINGS

Needed, a reasoned approach from SEBI
THE possibility that the Gujarat Ambuja group will have to make an open offer for ACC has re-emerged. If this happens, Grasim may well have to pay a higher price for its open offer for Larsen and Toubro. After all, the Grasim-L&T situation is not ... More

COMMENTARY

Positive trend in Infy
NIFTY (951.45): Despite last week's recovery, the view that the index is headed towards 840-850 level continues to remain valid. On the upside, Nifty could face resistance at the 980-985 band. The downward trend would resume once the ... More

Book profit in Tata Steel
AFTER a sharp slide the week before, the stock market sentiment turned distinctly bullish in the just-concluded week. The sharp recovery in the share price of Reliance Industries and Hindustan Lever provided the much-needed impetus for the market ... More

Bull-run in Bajaj Auto
RELIANCE Industries: The stock price of Petrochemical major, Reliance Industries went up this week by 14.7 per cent to end at Rs 256. This has to be viewed in the context of the 25 per cent increase in the net profit of the company to Rs ... More

Nasdaq: Trading sentiment perks up
AFTER a weak start, the American stock market sentiment improved as the week progressed. As a result, the benchmark indices managed to record fourth straight week of gains. The Dow Jones Industrial Average posted a gain of 0.9 per cent while ... More

RECOMMENDATION

Dr Reddy's: A good bet
Dr. Reddy's Laboratories represents a good investment at its current equity share price of about Rs 689. Pharmaceutical companies are difficult to follow. Complex research & development (R&D) and the numerous legal aspects that govern their ... More

Tata Engineering: Buy
THE turnaround story is complete. Tata Engineering's performance in the second quarter is final proof that the company is now firmly set on the profit path. This has been the strongest showing yet from the company since its historic Rs 500 crore ... More

ABB: Hold
THE ABB stock took a knock at the bourses last week after its parent issued a profit warning. It also declared that asbestos claims to its US subsidiary, Combustion Engineering, increased substantially and exceeded the value of the company's ... More

Exide Industries: Buy
STORAGE battery major — Exide Industries — has reported a steady growth in earnings in the first two quarters of the current fiscal. The company is making efforts to expand its geographic reach and once the pollution control norms ... More

Knowing their colours
A LOOK at the performance of the stocks of paints majors reveals that all of them, barring one, have posted returns in excess of 25 per cent for the investor. In the same time frame, the BSE Sensex rose a marginal 1.7 per cent. Trading is ... More

HCL Technologies: Buy (High risk)
THE earnings performance of HCL Technologies has turned out to be a disappointing one for the first quarter ended September 30, 2002, after showing fleeting signs of a recovery (at least on the revenue front) in the fourth quarter ended June 30, ... More

Sun Pharma: Hold
A GOOD performance in the domestic formulations (medicines in final form such as tablets) market helped Sun Pharma register a profit after tax of Rs 101 crore on sales of Rs 407 crore in the first half (April-September) of financial year ... More

INVESTOR PROTECTION

Treat investors' complaints lightly... at your own cost
FOR listed companies and capital market intermediaries, dragging feet when it comes to redress of grievances of investors, will turn out to be a costly affair. Besides the painful prospect of receiving a rap on the knuckles, companies will have ... More

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Looking back
Oct. 27-Nov. 2
SEBI `overlooked' alliance issue in ACC deal

SEBI directs new owners of Widia, FAG Bearings to make open offers