MARKETS
OPEN OFFERS
Vickers Systems: Accept
SHAREHOLDERS of Vickers Systems International can accept the cash offer for the simple reason that the financials of the company appear weak. Moreover, Eaton Hydraulics Inc (EHI), which is making the open offer, already holds a substantial ...
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Carbon Specialities: Accept
The manager to the offer, Fortune Financial Services India Ltd, on behalf of the acquirers, Mr Kishore Kumar Kaya and Mr Pankaj Kumar Kaya, is making an open offer to the shareholders of Carbon Specialities Ltd (CSL). The offer is being made to ...
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Alpha Drug: Accept
SHAREHOLDERS of Alpha Drug India (ADI) can consider tendering their shares in the open offer that has been announced by Punjab Chemicals and Pharmaceuticals (PCP) for cash at Rs 5.50 per share. Background While ...
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MUTUAL FUNDS
UTI Retirement Benefit Plan: Hold/Avoid fresh exposures
FRESH investments in the UTI Retirement Benefit Plan (RBP) can be avoided. The performance of the fund in the past few years has not been impressive. Given the lock-in period of five years and the large exit load applicable for redemptions before ...
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Sundaram Mid-Cap: Hold
INVESTORS in Sundaram Mid-Cap Fund can stay invested as the portfolio has room for further upside. The net asset value is up 9.8 per cent in the last two weeks. A broad-based rally in mid-cap stocks explains the spurt in performance. But any ...
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Reliance Banking Fund: Unattractive
INVESTMENTS in the initial public offer of Reliance Banking Fund need not be considered. Sector funds have generally proved unsuitable for retail investors. Diversified equity funds have also partially taken advantage of particular sector trends ...
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LIC Dhanavarsha 12 — Taking the open-end route
LIC Mutual Fund is to convert the Dhanavarsha-12 into an open-end monthly income plan. Dhanavarsha, a close-end income scheme, was launched in April 1998. The fund has filed with the Securities and Exchange Board of India for approval for the ...
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HDFC Sensex Plus: Hold
INVESTORS in the HDFC Sensex Plus Plan can hold on to their investments in the fund. In the 10 months since launch, the fund has generated significantly higher returns than the BSE Sensex, while investing the ...
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Sniffing out concentrated holdings
MUTUAL funds in India are patronised more by corporate and large investors than by retail investors. But the latter need to be wary of investing in funds that are parking grounds for the former. Investments and pullouts by large investors can ...
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Franklin India Bluechip: Invest
STOCKS
Elgi Equipments: A value play
STOCK MARKETS
Smart money heads for mid-cap stocks
WHERE is the smart money headed? To mid-cap stocks, cutting almost across sectors, it would seem. In April and May, these stocks have gained about 21 per cent. Lakshmi Auto Components, MICO, Sundaram Clayton, Sundaram Brake Linings, Sundram ...
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Tap profits at the right time
MID-CAP stocks delivered attractive returns in the bull phase in the first half of 2002 as well as in the current run-up. But it is important to have the discipline to book profits with targets set for returns. This assumes importance for one ...
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From unsustainable jumps...
Market on new path of consolidation
STOCK prices may well be weaving patterns, not generally seen in the past. The absence of sharp bullish phases cutting across sectors and stock categories may increasingly become the rule as has been the case for much of the last two years. What ...
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Positive outlook for Orchid Chemicals
THE market sentiment was distinctly positive during the week gone by. While the old-economy stocks provided the initial momentum, the technology heavyweights propped up the indices on Friday. Sensex (3056.58): The Sensex managed to ...
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Bullish trend in ITC and Infy
NIFTY (973.1): As anticipated, the move above 957 imparted bullishness in the index. In line with expectations, the index managed to move to the projected target zone of 960-970. The near-term outlook for the Nifty appears positive. A ...
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Nasdaq: Vacillating movement
EXCEPT for strong upward move on Monday, the price movement in American stock markets remained indecisive. The improved financial performance reported by the corporate sector has imparted bullish undertone. The recovery in the share price of ...
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Query Box
I am interested to know about Hinduja TMT and how it looks on charts? — Vinay Mathur, Reply: The near-term outlook for Hinduja TMT appears positive. The scrip appears to have the potential to touch Rs 225-230 ...
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DERIVATIVES MARKETS
SBI active; jump in open interest
TRADING activity in the derivatives segment of the NSE was active with the turnover higher by 4.28 per cent. Index futures: As the spot Nifty has been appreciating the whole week, the nifty futures were active. The May future closed at ...
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Delta factor
INVESTORS in the derivatives market are familiar with the word `delta'. The delta measures the sensitivity of the option's price with respect to a small change in the price of the underlying. For a futures position, the value of delta is ...
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DO THE DERIVATIVES
Bullish?... Write Puts
IF you have a bullish view on a stock, there are two ways to cash in on the uptrend. You can either buy calls or write puts (selling the put). By selling a put, the writer has the obligation to purchase the stock at the strike price. If the put ...
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COMMENTARY
Mid-cap stocks to the fore
JB Chemicals & Pharma (Rs 187): The stock price of JB Chemicals and Pharma surged by a whopping 19.1 per cent this week. This has to be seen in the backdrop of the company's announcement that the US Food and Drug Administration has ...
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RECOMMENDATION
Clariant (India): Pare exposures
INVESTORS holding on to the Clariant India stock may consider paring exposures at the current price of around Rs 145. At this price, the Clariant stock trades at a price-to-earnings multiple of about 8.7 times. During the past 52 weeks, the stock ...
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Restructuring of EID Parry and Coromandel Fertilisers — Hiving off to nurture
EID Parry: Pare exposures
Coromandel Fertilisers: Buy
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Elgi Equipments: A value play
FRESH exposures can be considered in Elgi Equipments at Rs 24. Good export prospects, aggressive approach against its MNC counterparts in the domestic market and foray into value-added products are some of the strategies that might aid the 20 per ...
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Bajaj Auto: Book Profit
REFLECTIVE of the growing competitive pressure in the two-wheeler industry, Bajaj Auto reported a marginal increase in turnover and net profit for the year ended March 2003. Aided by a 6 per cent increase in sales volume, the total income from ...
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Digital GlobalSoft: Pare exposures on uptrend
DIGITAL GlobalSoft's earnings performance for the fourth quarter of 2002-03 reiterates the industry-wide trend of strong volumes but pricing pressure on offshore outsourcing. The salient features of the earnings performance are: ...
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Indian Hotels: Hold on declines
INDIAN Hotels, which runs `The Taj' chain of hotels, has slowly recovered post 9/11 crises. The Budget sops and company initiatives such as restructuring, strategic acquisitions, cost-cutting, renovations and brand-building hold room for ...
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