MARKETS
FINANCIAL SERVICES
Demat account — The facility to freeze
A DEPOSITORY account holder (beneficiary account) may freeze securities lying in the account for as long the holder wantsto. By freezing, the account holder can prevent unexpected debits or credits, or both, ...
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INVESTMENTS
The perils of theme-based investing
STOCKS in the banking sector have been basking in the limelight. Over the past six months, this sector has resonated as a "theme" in the minds of professional and small investors alike. And the stock prices ...
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MUTUAL FUNDS
Templeton Growth, Franklin Growth: Value scores over growth
Recommendation:
Franklin: Pare exposures
Templeton: Invest
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Income funds see large inflows
MUTUAL funds have had sizeable net inflows in April 2003. Sales at Rs 41,905 crore and redemption at Rs 32,932 crore have ensured net inflows of Rs 8,973 crore. About 88 per cent of the inflows have moved ...
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Zurich Capital Builder: Sell
INVESTORS in the Zurich India Capital Builder Fund can contemplate paring exposures. The portfolio comprises stocks that have witnessed sharp spurts in the last month and a half. The cash position of about 13 ...
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UTI Master Equity Plan Unit Scheme: Hold/Avoid fresh exposures
INVESTORS in UTI Master Equity Plan Unit Scheme can continue to hold. After the merger of MEP-93, MEP-94, Mep-95, MEP-96 and MEP-97, the fund has now morphed into a fund that is heavily invested in large-cap ...
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IL&FS Growth and Value: Hold
AFTER an unimpressive start, the IL&FS Growth and Value Fund registered a sharp improvement in performance over the past year. Investors can stay with the fund. However, this is still too short a time-frame to ...
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DERIVATIVES MARKETS
Combination deltas
LAST fortnight, we saw how to estimate the value of delta using a thumb rule. To recapitulate, deltas measure the sensitivity of an option position with respect to the underlying. Normally, delta values will range between +1 and - 1. A long ...
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Sterlite Opticals out, i-flex in
THERE was a flurry of activity in the derivatives segment of the National Stock Exchange with May contracts expiring on Thursday and August contracts introduced for trading. Contracts on Sterlite Opticals were removed and contracts on I-flex were ...
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DO THE DERIVATIVES
Bearish outlook?...
Play it safe
BY `buying a put' or `writing a call' you can cash in on a bearish view in a stock. The difference between the two strategies is the payoff's and the right's/obligation's. In the case of buying a put, you stand in an `unlimited profits, ...
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COMMENTARY
Bullish outlook for Sensex
Preferred view: The break above 3100 has blunted the earlier bearish outlook. The near-term outlook for the index has now turned bullish. The downward sloping trend line connecting the earlier high of 3758 and 3417 is the final hurdle that ...
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Upside potential in ITC
ITC (Rs 694.15): Contrary to expectations, the scrip managed to stay firm. The overall outlook for ITC continues to remain positive with a move to the Rs 745-750 range being a distinct possibility. A move past Rs 705 would have positive ...
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Thermax zooms on increased net
Punjab National Bank (Rs 179): The stock price of PNB zoomed this week by 19.3 per cent. This has to be seen on the back of announcement made by the Ministry of Finance, that it does not have any plans to charge a premium on the equity ...
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Bank stock in focus
Banks delight: Bank stocks have been the favourite for quite some time. At present, talk about banks returning their capital to the government is driving these stocks up. Private banks such as Federal Bank and Karnataka Bank too sustained ...
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RECOMMENDATION
The ten that stole the show
IT IS not often that large-cap companies walk away with the honours in the earnings season. Before 2002-03, the slow-down in industrial growth and sluggish commodity prices hampered the performance of such ...
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Tata Engineering: Buy
IT IS a turnaround that has been achieved in textbook fashion. From a loss of Rs 500 crore in 2000-01 to a pre-tax profit of a similar amount in 2002-03, Tata Engineering's bottomline has swung Rs 1,000 crore in ...
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Larsen & Toubro: Give Grasim the go-by
Recommedation: Reject
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Tata Steel: Hold
SHAREHOLDERS of Tata Steel can continue to hold on to the stock at the current levels. At about Rs 155, the stock trades at a price to earnings multiple of 5.6 times. With steel prices stabilising at the current ...
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Bank of Baroda: Pare exposures
SHAREHOLDERS of Bank of Baroda can consider reducing their exposure to the stock in the course of the next few weeks. The stock price now trades at levels that require consistent growth in dividends over the ...
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Exide Industries: Book profits
AIDED by increased automobile production and the pick-up in activity in the telecom sector, storage battery major Exide Industries has come up with a sharp improvement in performance in the recent quarters. ...
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RCF: Hold
DIVESTMENT hopes have once again led to a sharp spike in the stock price of the once-neglected fertiliser major, Rashtriya Chemicals and Fertilizers. The stock doubled from Rs 15 to Rs 30 in a month. Last week, ...
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Indian Rayon: Fabric of success
The stock, which trades at a price-earnings multiple of 5.6 times its FY03 earnings, holds the potential for appreciation in the medium-term as growth prospects appear encouraging. The company's viscose filament yarn (VFY) division, which ...
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IPOS
State Bank of Mysore plans Rs 100-cr public issue
STATE Bank of Mysore, which has recorded a 75.9 per cent growth in net profit in 2002-03, is planning a public issue of Rs 100 crore. Mr Sitarama Murty, Managing Director, said the move is awaiting parliamentary approval to remove the cap on ...
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