The Hindu Business Line : Sunday, July 13, 2003

Schenectady Beck: Accept
SHAREHOLDERS of Schenectady Beck India Ltd (SBIL) can tender their shares under the ongoing open offer. The acquirer, Altana Electrical Insulation GmbH (Altana Electric), is proposing to purchase up to ... More

INSIGHT

New listings favour fund investing
THE sizzling debut of Maruti Suzuki is a sign of the ring of confidence enveloping the primary market. Maruti's listing follows a string of successful offerings, mostly from banks. After a long time, public ... More

MUTUAL FUNDS

`Funds now cater to very aware investors' — Mr Krishnamurthy Vijayan, CEO, JM Mutual Fund
"Buy, and hold for the long term — - is not a practical strategy for fund investors," may be unexpected advice, coming as it does from the CEO of one of the oldest mutual fund houses in the Indian market. But Mr Krishnamurthy Vijayan, ... More

Prima Plus: Invest
INVESTMENTS can be contemplated with a one-to-two year perspective in Franklin India Prima Plus. But investing can be made in a phased manner, perhaps using the systematic investment plan, to take advantage of ... More

What is enhanced indexing?
THE stock market has moved up considerably in the last two months. In such a market, active funds outperform index funds. However, when the market is down, index funds typically tend to be better performers. ... More

DSP Merrill Lynch Opportunities: Hold
INVESTORS in DSP ML Opportunities fund can stay with the fund, as its performance has improved considerably since mid-2001. The fund, which was launched in March 2000, had a disastrous start, trailing S&P CNX ... More

PruICICI Growth: Pare exposures
INVESTORS in Prudential ICICI Growth Fund can consider paring exposures taking advantage of the run-up in the NAV in the last three months. The NAV is up by about 19 per cent. A host of other equity funds ... More

Sunder from UTI

Master Value dividend

New option in Birla Maturity Plan

STOCKS

BSL to consider delisting

NSE okays ETC listing

TECHNICAL ANALYSIS

Pare exposure in HLL
Preferred view: The index inched closer to the immediate level of 3760 that has been emphasised in the past few weeks. After touching a high of 3714.8, the index closed on a relatively weak note at 3676 on Friday. The index could seek the ... More

Upside momentum losing steam
ITC (Rs 757.4): The stock could see some subdued price action in the following week. A decline below Rs 745 would have bearish implications and could pave the way for a drop to the Rs 710-720 range. Only a close above Rs 790 would now ... More

Query Corner
Please update on your outlook for Saw Pipes in the short and medium term. Please also advise whether to invest at present prices in pharma scrips such as Ranbaxy, Divi's Laboratories. — Gauri Shankar The outlook for Saw Pipes (Rs ... More

DERIVATIVES MARKETS

Maruti, Infosys in limelight
The week saw interest waning in index futures and options and shifting to stock derivatives. Huge build-up in open interest was in July future contracts of Tata Steel, Reliance, Satyam Computers, HPCL and Tata Engg Index futures: The ... More

USING FUTURES/OPTIONS
Active & Passive Orders
The Futures and Options trading system provides a fully-automated trading environment for screen-based, floor-less trading on a nationwide basis and an online monitoring and surveillance mechanism. The system supports an order-driven market and ... More

FOREIGN INSTITUTIONAL INVESTORS

FIIs in `debt'
THE April-June 2003 quarter has been the second best for investments by foreign institutional investors (FIIs) in India. The best was in 1996 when FII flows hit an all-time high of $3.1 billion. In 2003, FII ... More

FII hedging norms modified
THE Reserve Bank of India (RBI) has modified the conditions under which a foreign institutional investor (FII) can enter into a forward contract to hedge its exposure in India. The central bank has now amended its FEMA regulations on foreign ... More

COMMENTARY

Hughes gains 15 pc on Tenet acquisition
Satnam Overseas (Rs 41): Without any new development, the stock of Satnam Overseas gained 84 per cent during the week. The company, while announcing product launches in June said that it expected the net profit to grow 15 per cent in ... More

Techies to the fore
TECH stocks came back into the reckoning after being rather subdued over the past couple of months. Infosys' results provided the much-need shot of adrenalin to the sector, which prompted a secular uptrend in stocks such as Satyam Computer, Wipro ... More

RECOMMENDATION

Infosys Technologies: Tender to the sponsored ADR offer
INVESTORS need to consider selling the Infosys stock. The sponsored ADR offer, which is in the offing, involves selling to overseas investors. Through this offer, shareholders get an opportunity to sell the ... More

Pfizer: Buy
INVESTORS looking for a sound pharma company to deploy their funds can consider doing so in Pfizer, one of the better pharma p0lays in the market today. At the current price of Rs 412, the stock trades at a ... More

Escorts: Hold
ESCORTS Ltd is in the process of refocussing its resources into the three core areas of agri-business, cellular telephony and healthcare, which have been identified by the company to be the future growth ... More

India Cements: Buy (high risk)
INVESTORS with a penchant for high risk can consider small exposures in the India Cements' stock as there may be gains from further restructuring. Investors who had picked up the stock at about Rs 17 — ... More

MphasiS BFL: Hold/Buy on declines
SHAREHOLDERS of MphasiS BFL can continue to hold the stock. Fresh investments can be contemplated at price declines of about 10 per cent from the present levels. MphasiS BFL is likely to maintain its earnings ... More

What they have to offer
EIH: Hold
ITC Hotels: Hold
Hotel Leela Venutre: Buy, high risk
Taj GVK Hotels: Buy
Indian Hotels: Buy More

Monsanto India: Risky, yet valuable
DESPITE its sharp run-up in the past month, the Monsanto India stock continues to hold potential for capital appreciation. Risk-seeking investors may consider accumulating the stock at current price levels. At the price of Rs 727, the stock ... More

Bank of India: A growth option
INVESTORS can consider exposures in the Bank of India stock at the price of Rs 49. At this price, the dividend yield on the stock is attractive at 6 per cent. The relatively high dividend yield indicates that the stock is undervalued relative ... More

IPOS

Maruti IPO: A good history helps
THE just-concluded initial public offering (IPO) of Maruti Udyog Ltd (MUL) is a vindication of the market savvy Indian investor. Coming as it did when the primary market was at its nadir, new listings and ... More

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