The Hindu Business Line : Sunday, December 29, 2002

PSU focus peps performance
AFTER two years of losses, 2002 provided relief to equity fund managers, thanks to a recovery in stock prices . The post-September 2001 rally continued into 2002 to prop up the net asset values of equity funds. Among the152 equity funds, ... More

Leaders/Laggards in 2002: The glitter is in gilt
THE continued uptrend in the prices of government securities and top-rated corporate debt instruments helped income and gilt funds turn in impressive performances in 2002. Gilt fund returns, which were in excess of 20 per cent in 2001, were in ... More

Reliance Vision: Sell
INVESTORS in Reliance Vision Fund — the top performer in 2002 — can contemplate booking profits. This will enable them to take advantage of the fund's 76 per cent return posted over the last year, which leaves it way ahead of the next ... More

Franklin India Prima: Invest
FRESH investments can be considered in the Franklin India Prima Fund (from the erstwhile Pioneer ITI stable). The fund has a good track record, having kept in line with the market trends over the last three months. Over the last five years, it ... More

Templeton India Income Builder Account: Sell
TEMPLETON India Income Builder Account (growth) returned 16 per cent since last December. Existing unitholders may redeem their units and re-enter at a later date after the bond market settles at lower levels. The recommendation is based on the ... More

STOCKS

India Cements: Hold/Buy (High Risk)
INDIA Cements shareholders can stay invested at the current price levels and hope for a re-rating on the back of the imminent restructuring involving strategic sales/partners. The sale of select cement units to retire debt may not make much of ... More

STOCK MARKETS

Indian bourses do a buck
THE YEAR 2002 will probably go down in the history of Indian stock market as one of consolidation. After the severe battering in the previous two years, the market stabilised and consolidated through the year. While stock markets the world over ... More

Auto sector, disinvestment provide the drive
THE recovery in the automobile sector followed by an improvement in the fundamentals across sectors gave market sentiment a shot in the arm. The improvement in automobile production pushed up the share price of quite a few auto companies to ... More

2003: Volatile year ahead
THE stock market appears more upbeat as it enters 2003 than it has been in the past two years. The rally in the last couple of months has ensured that the market ended 2002 with modest gains. However, auto, banking and PSU stocks witnessed ... More

DERIVATIVES MARKETS

Margins for futures, options
NATIONAL Securities Clearing Corporation Ltd (NSCCL) has developed a comprehensive risk containment mechanism for the futures & options segment. The most critical component of a risk containment mechanism for NSCCL is the online position ... More

Market memory, volatility and random effect
WITH the increasing sophistication of financial markets the tools used for analysis have also been on the rise. Both theoretical and applied research in financial markets has been growing exponentially since the early 1970's. While various ... More

REGULATORY BODIES & RULINGS

Bank for securities lending mooted
IN a bid to boost securities lending and margin trading on stock markets, a SEBI concept paper has mooted creation of a single entity akin to a bank that can do both activities: i.e., providing funds for margin trading and lending ... More

INTERVIEW

`Index funds bring long-term money to equity market'
EQUITIES have been the strong point for Zurich India Mutual Fund. Over the past five years, the fund house has built up a formidable track record not only for outperformance of the indices through active investing, but also for consistency of ... More

COMMENTARY

Mahindra & Mahindra may move up further
CONTRARY to expectations, the stock markets ruled firm and managed to scale new seven-month peak during the week. Besides, the Indian market sentiment was distinctly positive in comparison with a relatively bearish mood at the American ... More

Firm trend in Satyam, Infosys
NIFTY (Rs 1,098.4): The much-anticipated downward correction remained elusive. Taking into account the recent price pattern, it appears that the Nifty could continue to seek higher levels before any meaningful downward correction could set ... More

Dr Reddy's, Ranbaxy up on FDA approval for products
Dr. Reddy's Laboratories (Rs 924): The stock price of drug manufacturer, Dr. Reddy's labs went up this week by 3.4 per cent. This has to be viewed in the light of the company's announcement that it has been granted an approval by the US ... More

Nasdaq: Trading at low ebb
AFTER a rally on Monday, the American stock markets witnessed a bearish trend for the rest of the week. The Christmas and New Year eve kept the trading activity at low ebb. Rising trend in oil prices coupled with the flow of relative unimpressive ... More

RECOMMENDATION

Camlin: Buy
INVESTORS with an appetite for risk can contemplate taking an exposure in the Camlin stock, which trades at Rs 57. Camlin is a household name in the art materials and stationery segment, in which it is the market leader. It also has a presence in ... More

Hero Honda Motors: Slow ride
WHILE the motorcycle demand has been quite robust, Hero Honda Motors has not quite been in a position to capitalise on this trend. The recent product launches have not quite raked in volume growth for the company which in turn has resulted in the ... More

Crisil: Hold
CREDIT Rating Information Services' (CRISIL) share price has been fluctuating between Rs 300 and Rs 275 over the last four months. At present, the company's shares change hands at about Rs 285. Often, the number of shares that change hands are ... More

Ingersoll Rand: Hold
INGERSOLL Rand (India) is one of the beneficiaries of the recent investment in the road development sector. The stock has been moving up steadily, backed by the growth in the infrastructure segment. Ingersoll is one of the leading manufacturers ... More

Crop protection companies: Wait to gain
BASF India/Bayer India/Rallis India: Hold
Monsanto India: Buy
United Phosphorous: Hold More

MRF: Book profit and re-enter at lower levels
THE tyre major, MRF, has come up with a sharp improvement in the financial performance for the year ended September 2002. The turnover increased 5.3 per cent to Rs 2232.8 crore, while the post-tax earnings more than doubled to Rs 78.5 crore ... More

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