The Hindu Business Line : Sunday, November 17, 2002

Mysore Brew to make offer for Rochees shares
MYSORE Breweries Ltd, subsidiary of SABMiller India, will come out with an open offer for Rochees Breweries Ltd's 25.18 per cent shares. MBL has come out with a price of Rs 11.75 per share and the total consideration of the buyback will be of ... More

FINANCIAL SERVICES

DSE arm starts trading on BSE
DSE Financial Services Ltd (DFSL), a wholly-owned subsidiary of the Delhi Stock Exchange (DSE), has finally started trading on the Bombay Stock Exchange, according to an official release. With this trading, the exchange has renewed its life ... More

INFORMATION TECHNOLOGY

Kolkata broker logs on to new ISE facility
A KOLKATA-BASED stock broker, Mr Sanjay Bansal, has become the first to make use of a new facility — a mini administrator system — introduced by Interconnected Stock Exchange of India. The software enables a member to conduct ... More

MUTUAL FUNDS

UTI Masterplus: Hold
INVESTORS in MasterPlus 1991, the open-end growth fund from Unit Trust of India, can retain their investments for now. Fresh investments in the scheme, however, need not be contemplated. The fund's track record over the past five years is not ... More

Birla IT Fund: Pare exposures
INVESTORS in Birla IT Fund can contemplate cutting exposures to take advantage of the current firm trends in the prices of frontline IT stocks. Business Line had recommended profit-booking in March 2002, during a round of increase in the ... More

UTI-II, employees, and costs
THE bifurcation of UTI has run into a number of hurdles. Much of it may not relevant to investors. But the issue of employees is relevant for investors in SEBI-compliant schemes, which are being transferred to UTI-II. The issue here is one of ... More

UTI Variable Investment Scheme: Unattractive
INVESTMENTS in UTI Variable Investment Scheme need not be considered. UTI-VIS is a tactical asset allocation plan. The investment objective is to shift allocation between equities and debt. This will be done depending on the attractiveness or ... More

ING Growth Portfolio: Pare exposures
INVESTORS in ING Growth Portfolio can consider reducing their exposures to the fund. While the sharp rise in prices of technology stocks was reflected in the superior performance of the fund in the last 12 months and more specifically in the last ... More

SEBI hikes foreign investment limits
MUTUAL funds can now invest more in foreign securities. The Securities and Exchange Board of India (SEBI) has allowed them to invest up to a maximum of 10 per cent of assets under management in foreign securities. The limit set earlier was four ... More

Franklin Prima Plus pares exposures: Pare exposures
SHAREHOLDERS in Franklin Indian Prima Plus can pare exposures in the scheme though it continues to perform better than the market and has a good track record over the last five years. The reason to pare exposures continues to be the impending ... More

DERIVATIVES MARKETS

Settling an index futures contract
IN recent years, derivatives have become increasingly important in the field of finance. Futures and options, the most popular derivatives are now actively traded on many exchanges. Forward contracts, swaps, and many other derivative ... More

Non-linear pay-offs in options
MY friend, a derivatives enthusiast, remarked the other day that small investors find it difficult to understand equity options because the payoffs are non-linear. What is non-linear payoff? The concept can be best understood with the sand-pile ... More

Positive trend in tech stocks
OPTIMISM about the future of information technology companies sparked a firm trend in equity market indices last week. Powered by technology stocks, the bellwether index, BSE Sensex, gained about 2.60 per cent over the week to end at 3,033.91 ... More

REGULATORY BODIES & RULINGS

Public floats may come under tougher scrutiny
FOR the legion of investors in initial public offers (IPOs) of companies, who have to depend on themselves or their financial advisors for taking an informed investment decision and who, in many cases, later rue it when the companies promoted by ... More

COMMENTARY

Max India in focus; up 16.5 pc
Mphasis BFL (Rs 569): The increase in the stock price of the software company by 2.5 per cent this week, has to be viewed in the context of the rumours, that the company's subsidiary, MsourceE, is about to win a large Business Process ... More

Book profit in ONGC
AFTER some initial weakness, the stock market sentiment improved sharply as the week progressed. The rally was underpinned by the firm trend in technology stocks, Infosys in particular. As a result, both the Sensex and the Nifty have moved above ... More

RECOMMENDATION

i-flex: Pare exposures
FRESH investments in the stock of i-flex need not be considered now. At the ruling market price, the valuation of the stock almost fully factors in the unexpected but significant positive developments during the second quarter of the year. ... More

Tata Steel: Hold
TATA Iron & Steel Company's (Tata Steel) second quarter and half yearly results for the current fiscal indicate an all-round improvement in performance. A large measure of the credit for such a significant improvement is attributable to the ... More

Seshasayee Paper: Hold
SHAREHOLDERS in Seshasayee Paper can consider staying invested as the paper industry's price cycle shows continued signs of firmness. The volume growth has also been good and this has helped the company post a sharp turnaround in the last three ... More

Infosys: Pare exposures
EXISTING investors in the stock of Infosys Technologies can consider paring down their exposures. The stock has run up sharply in recent days and the momentum may carry the stock price to higher levels. This uptrend can be utilised to reduce ... More

India Cements: Hold/Buy (High risk)
SHAREHOLDERS of India Cements can contemplate holding to their stocks at the current price levels of around Rs 17. Business Line has for well over a year now maintained a `sell' recommendation on the stock. Now, the stock has declined ... More

Ingersoll-Rand (India): Buy
BACKED by the steady improvement in financial performance, the share price of Ingersoll-Rand has increased from about Rs 110 in early January to the current level of about Rs 222. Taking into account the strong fundamentals, steady growth in ... More

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