MARKETS
MUTUAL FUNDS
JPC findings on US-64 — In-house deals out in open
US-64 may soon become an unflattering piece of history. But the mass of information provided to the Joint Parliamentary Committee reveals two critical facets: One, in-house operations of an unprecedented level (inter-scheme transfers) and, two, ...
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The ones that paid the price
IF THERE was one aspect of the UTI's inter-scheme transfers that was completely under wraps, it was the identity of the schemes that bore the brunt. Now, courtesy the Joint Parliamentary Committee, there is a fairly clear idea. The Table provides ...
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FT India Asset Allocation Fund: Hold
INVESTORS can retain their units in FT India Asset Allocation Fund as its performance since launch has been in line with that of comparable balanced schemes. The fund offers five different mixes of debt and equity, ranging from the Inflation ...
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Spotlight on dividend yields
THE gathering momentum in favour of scrapping dividend tax exemption and the sharp decline in interest rates over the year has put the spotlight firmly on dividend yields on stocks. In fact, Birla Mutual Fund has launched an equity scheme that ...
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US-64 facility: Avoid classification for trading
THE UTI has decided that the buyer of US-64 will be entitled, through the secondary market, to the prices applicable under the Government's Special Liquidity Package. At present, this facility is available only to investors registered as of ...
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Why investors don't want to lock in
THE fund industry often bemoans the fact that Indian investors have a poor grasp of how to invest in mutual funds. They point out that investors are willing to pour money into equity funds at the height of a bull market, but prefer to stay with ...
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Alliance Basic Industries: Hold/Pare on rise
FRESH investments in Alliance Basic Industries can be avoided. There has been a sharp run-up in the NAV in the last three months, and there is a possibility of a further rise in value over the next couple of months. Such a rise can be used to ...
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IDBI Principal Income Fund: Sell
IDBI-Principal Income Fund (growth) returned 16 per cent since last January. Existing unit-holders can redeem their units and take the current gains. Fresh exposures can be contemplated after the bond market settles at lower levels. Consider ...
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PruICICI Growth: Hold
UNITHOLDERS in Prudential ICICI Growth Fund can stay invested and evaluate their exposures around Budget time. The fund's track record is fairly satisfactory. It has generated returns of around 16 per cent since launch and has done fairly well ...
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DERIVATIVES MARKETS
Tech counters turn weak
A LARGE sell-off in technology stocks dragged down the equity market indices. The BSE Sensitive Index ended the week at 3,288 points, lower by 2.4 per cent in relation to the preceding week's closing value. Generally, a declining trend in ...
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Adjustment for corporate actions
AT the time of recommending introduction of stock options, SEBI laid down procedures for adjustment in derivative contracts at the time of corporate action in line with international best practices. It was decided that the adjustment for ...
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COMMENTARY
Further weakness in store
NIFTY (1056.05): The overall market sentiment remained bearish during the week as the Nifty embarked on the much-expected downward correction. The overall outlook continues to remain weak with a drop to the 1030-1040 range turning out to ...
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Positive outlook for HDFC Bank
AFTER some signs of a mid-week recovery, the market movement took a decisive downturn on Thursday. The sentiment was dented further on Friday with Reliance Industries playing a major role in the drop. The disappointing quarterly performance of ...
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Jindal Iron & Steel hardens; up 14.3 pc
Dr Reddy's Laboratories (Rs 918): The stock price of domestic pharma major, Dr. Reddy's spiralled down this week by 6.5 per cent. This has to be viewed in the backdrop of pharma major Novartis discontinuing clinical trials of DRF-4158, an ...
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Nasdaq: Sustained downtrend
RECOMMENDATION
Attractive on dividend yields
Sundaram Finance: Buy
Ashok Leyland Finance: Buy
Cholamandalam Finance: Hold
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BSES: Short-circuited
SHAREHOLDERS in BSES can consider offloading their holdings either through the open offer from Reliance Industries currently on or directly in the market. If the latter option is chosen, it may be advisable to sell the holdings before the offer ...
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ING Vysya Bank: Time to move out
INVESTORS in the stock of ING Vysya Bank can pare down their exposures. In the last 12 months, the stock has appreciated by nearly 70 per cent. The appreciation has come in the backdrop of a rise in the stake of ING Group of the Netherlands in ...
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NRB Bearings: Buy
AIDED by the sustained increase in automobile output, the financial performance of almost all the top bearings companies such as SKF, Fag and NRB Bearings has improved steadily in the past few quarters. Long-term investors could take equity ...
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Cipla: Hold
A LACKLUSTRE sales performance in the quarter ended December 2002 acted as a drag on Cipla's performance in the first nine months (April-December) of fiscal 2003. For the nine-month period, Cipla's sales grew by 17.57 per cent over the ...
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Siemens India: Hold
CHARGED by the ongoing investments in the power sector, Siemens continued to churn out good performance during the quarter ended December 2002. In the first quarter of 2002-03, Siemens posted a 15 per cent growth in turnover, primarily driven by ...
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Hind Lever Chemicals merger with Tata Chemicals: A good mix, with a difference
Recommendation: Tata Chem - Buy
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