Financial Daily from THE HINDU group of publications
Sunday, April 13, 2003
Markets (April 11)
BL 2501014.45 (-10.87)
BSE Sensex2997.87 (-37.46)
S&P CNX Nifty949.80 (-12.40)
Dollar (Buy/Sell)47.31/47.44
Gold Std (10 gm)5135 (+10)

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Corporate actions in demat mode
The benefits may be either monetary (dividend, interest) or non-monetary (bonus, rights, and so on). The National Securities Depository Ltd (NSDL) facilitates distribution of corporate benefits. Monetary benefits: The NSDL will give ... More

MUTUAL FUNDS


Mutual funds: When the best and the next are gone
INVESTORS in mutual funds face a rather difficult situation, as the two top performing funds in the last ten years are no longer available as separate options. Pioneer ITI, in late 2002, and Zurich India, a couple of weeks ago, have been absorbed ... More

DSP Merrill Equity: Pare exposures
INVESTORS in DSP Merrill Lynch Equity Fund can contemplate cutting exposures. This can be done using any broad market trends on the upside. The performance of the fund compares favourably with the broad indices. Since its launch and over the ... More

Franklin and PruICICI FMCG Funds: Hold
THE two FMCG sector funds — Prudential ICICI FMCG Fund and Franklin FMCG Fund — have several points in common: Both made their debuts at the same time (March 1999), have similar investment objectives. But there is a significant ... More

UTI schemes: Stop-loss triggers and PIPs
UTI Mutual Fund has announced a stop-loss trigger for its 14 equity schemes. This is the fourth such trigger in such schemes. So far, triggers based on date, value and appreciation are available. The facility under any of these triggers can be ... More

Prudential ICICI Gilt Fund (Investment Plan): Invest
THE holding period return since August 1999 for unit-holders in Prudential ICICI Gilt Fund Investment Plan (growth option) is 60 per cent. The fund's asset allocation strategy has, however, become very aggressive since 2001, increasing the ... More

Franklin India: A mid-cap focus
FRESH investments can be considered in Franklin India Prima. Prima, which focuses on mid and small capitalisation companies, follows an aggressive strategy. It is one of the attractive options for an exposure to such companies. Prima has ... More

Zurich India Equity: Hold
INVESTORS in Zurich India Equity Fund can stay with the fund, which has performed consistently over the past five years. In most quarters in this period, it has been among the group of top performing funds. The five-year returns of about 27 ... More

Franklin India: A mid-cap focus
FRESH investments can be considered in Franklin India Prima. Prima, which focuses on mid and small capitalisation companies, follows an aggressive strategy. It is one of the attractive options for an exposure to such companies. Prima has ... More

Ignore the tech itch
A SHARP fall in equity values raises dramatically the allure of technology funds. Fund managers too are at it again. A few have said that valuations are now attractive and that investors should put in their money. However, investing in sector ... More

TECHNICAL ANALYSIS


Reliance, Moser Baer may seek higher levels
IT was quite an eventful week of trading at the domestic bourses. The market's disappointment with Infosys' performance and earnings guidance led to a severe battering of stocks from the technology sector. Including Infosys, almost the entire ... More

Positive outlook for ITC
NIFTY (949.8): As expected, the index reversed direction right at the resistance zone of 1025-1030 mentioned last week. After touching a high of 1033, the Nifty turned extremely bearish to end the week at 949.8. The near-term outlook for ... More

STOCK MARKETS


Disappointing Q3 results pull Mastek down 45 pc
Infosys Technologies (Rs 2,618): The stock price of Infosys Technologies plummeted this week by 39.1 per cent. A weaker-than-expected financial performance coupled with gloomier profit guidance for the year ahead, appears to have dragged ... More

DERIVATIVES MARKETS


Heightened activity in tech contracts
THE announcement of fourth quarter earnings and disappointing guidance of tech companies for the upcoming year dampened the market sentiments this week. Though the benchmark indices gained value on Monday, they were on a downward trend for the ... More

Using Futures/Options: Settlement and square-off
Kindly explain the difference in the settlement of futures trade with that of the normal stock trade. — Partha The National Securities Clearing Corporation (NSCCL) undertakes clearing and settlement for all deals executed on the ... More

  • Options guide
  • Futures guide

    REGULATORY BODIES & RULINGS


    SEBI guidelines on T+2
    SECURITIES and Exchange Board of India (SEBI) vide its circular no. D&CC/FITTC/CIR-19/2003 dated March 4, 2003 has intimated its decision to shorten the existing T+3 rolling settlement to T+2 rolling settlement with effect from April 1, 2003. The ... More

    RECOMMENDATION


    Infosys Technologies: Sell on rise, re-enter later
    SHAREHOLDERS of Infosys Technologies can exit, especially utilising any bounce back in stock price from present levels. The downside for the company's share price will be significant if the earnings growth remains in the 10-12 per cent band ... More

    ABB: Hold
    THE financial performance of ABB India has been in line with the trend witnessed in the previous three-four quarters. The results reflect the conducive domestic and international business environment. ABB's sales for the first quarter ended March ... More

    Mastek: Hold/Avoid fresh exposures
    THE Mastek stock continues to be on a roller coaster. Over the past six months, it had been on a steady uptrend as the fundamentals were showing signs of distinct improvement. But the stock went into a tailspin on April 10, suffering the biggest ... More

    MphasiS BFL: Buy on declines
    SHAREHOLDERS of MphasiS BFL can capitalise on the decline in price to raise exposures. The stock now trades at a multiple of around 15 times the earnings for the year ended March 2003. Lacklustre quarter In ... More

    Gujarat Ambuja Cements: Buy
    FRESH investments can be contemplated in Gujarat Ambuja Cements. A strong push on the volumes front has helped the company turn in impressive earnings for the January-March quarter. The regulatory risk of an open offer for ACC at Rs 355 per ... More

    Zee Telefilms: Pare exposures
    SHAREHOLDERS of Zee Telefilms can contemplate cutting exposures, especially by using any uptrend in the stock. The stock is down close to 29 per cent in 2003. The possibility of further downside risk exists even at the current price levels. ... More

    India Nippon Electricals: Pare exposures
    THE company has been among the major beneficiaries of the sustained increase in demand for two-wheelers over the past couple of years. Considering the signs of a slowdown in two-wheeler sales in the last couple of months, shareholders can reduce ... More

    Hero Honda: Reduce exposures
    REFLECTIVE of the growing competitive pressure and erosion in market share, motorcycle major Hero Honda turned in a depressed earnings performance for the quarter ended March 2003. Total motorcycle sales for the quarter dropped marginally to ... More


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