The Hindu Business Line : Sunday, March 16, 2003

Accept these open offers
Parry Agro: Shareholders Parry Agro Industries can sell their holdings in the open offer made by New Ambadi Investments Ltd at the offer price of Rs 70 per share. The latter, along with other members of the promoter group, already ... More

INVESTMENTS

Dividend yields and value managers
THE recent theme in investment management is dividend yield. Most newspaper articles compare high dividend yielding stocks with bank fixed deposits. Beware. Investing in stocks for just the dividend yield is risky. Why? Dividend yield refers to ... More

MUTUAL FUNDS

PruICICI Tax: Cut exposures
INVESTORS in the open-end tax savings plan of Prudential ICICI Mutual Fund can contemplate paring exposures in the fund and re-investing in other tax-saving equity funds with a better track record. This recommendation is appropriate for investors ... More

Franklin Templeton Prima: Invest
INVESTMENTS can be contemplated in Prima, an open-end growth scheme from Franklin Templeton, as its track record has been good across various time horizons. The fund has generally focussed on mid-cap and small-cap stocks. This pegs the risk ... More

Sundaram Income Plus: Hold/Avoid fresh exposures
INVESTORS in Sundaram Income Plus can stay with the fund as the fund is yet to complete a year. Fresh investments, however, need not be considered as its performance has not been as anticipated. Performance: Since July 2002, when the ... More

Templeton India Pension Plan: Hold
INVESTORS can hold their investments in Templeton India Pension Plan. The fund has generated a reasonable annualised return of 12.3 per cent in the six years since launch. It is one of few conservative balanced funds in operation, with debt ... More

PruICICI Loads: Sharply up for equity funds
PRUDENTIAL ICICI Mutual Fund has proposed a sharp hike in the entry loads for its equity schemes. The new entry load has been fixed at 2.25 per cent of the net asset value compared to prevailing levels of 1.75 per cent. But for investments ... More

US-64: Take cash, skip the bond
THE date for redemption of US-64 is fast approaching. Most investors can opt for cash of Rs 12 or Rs 10, as the case may be, on May 31, 2003. Or, for 6.75 per cent five-year tax-free bonds instead of cash. If investors opt for cash, the stock ... More

DERIVATIVES MARKETS

Despondent trading

Options on individual securities

FOREIGN INSTITUTIONAL INVESTORS

The fall and fall of FII inflows
IN 2003, investments by foreign institutional investors started off on the weakest note in a decade, except for 1998 and 1999 — the only time in the last ten years that the FIIs were net sellers in the Indian market. The sparse inflows ... More

Liquidity counts, influence wanes
FOREIGN institutional investors do not seem to exercise the same kind of hold on the market as they did in the mid-1990s — the years that immediately followed their entry into India. Going forward too, as insurance companies and pension ... More

ASSET MANAGEMENT COMPANIES

HDFC to sell 10% AMC stake to Standard Life
HOUSING Development Finance Corporation Ltd (HDFC) has decided to sell 10 per cent of its stake in its joint venture asset management company (AMC) to its foreign partner - Standard Life UK - and invest up to Rs 65 crore additional capital ... More

COMMENTARY

Pare exposure in HPCL, SBI

Weak trend may persist

Nasdaq: Sentiment perks up

Hughes Software up 7.2 pc on $30-m order

RECOMMENDATION

Neyveli Lignite: Buy
FRESH exposures can be considered in Neyveli Lignite Corporation. At Rs 25, the stock trades at five times its trailing 12-month earning per share. Given the strong fundamentals and reasonable dividend yield, the stock appears to be ... More

Hughes Software: Hold/Avoid fresh exposures
THE Hughes Software (Hughes) stock has appreciated by over 30 per cent since end-January. On January 9, when Hughes unveiled its earnings performance for the third quarter ended December 31, 2002, the stock was trading at around Rs 170. Despite a ... More

Hero Honda Motors: Hold
CHARACTERISED by erosion in market share, drop in share price and a virtual glut in model launches, things have not quite gone the Hero Honda way in the past couple of years. The investor community was also apprehensive about the renewal of ... More

GlaxoSmithKline Pharma: Buy
FRESH exposures can be considered in the stock of GlaxoSmithKline Pharma, which now trades at Rs 292. The company, which declared encouraging numbers for the year ended December 2002, continues to be one of the better MNC pharma plays available ... More

Bank of India: Good investment option
FRESH investments can be considered in the stock of Bank of India. The stock is attractively valued at present levels and it holds the potential to offer returns commensurate with risk at the ruling price of Rs 32.80. The Bank of India stock ... More

Nestle: Hold
A HOST of discretionary charges have sobered down Nestle India's profit growth for 2002. But with a 16.4 per cent growth in its reported net profits, achieved on the back of a 6.5 per cent growth in net sales, Nestle India's performance for 2002 ... More

IPOS

IPOs cheer up the small investor
IF you thought that the initial public offer (IPO) market was dead and small investors were staying away from it, then you could be wrong. In the last one year, the primary market has not only attracted small investors, but has also provided good ... More

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