The Hindu Business Line : Sunday, October 12, 2003

Shapoorji group open offer for FAL
THE Shapoorji Pallonji group has made an open offer for 20 per cent of the equity in the Chennai-based FAL Industries at a price of Rs 25 per share in the backdrop of a pending dispute with SEBI about a public offer for the company. The ... More

Reject open offer for Swaraj group cos
AFTER acquiring about 23.5 per cent of equity in Punjab Tractors (PTL) from the Punjab State Industrial Development Corporation (PSIDC), CDC Group Plc of UK (the erstwhile Commonwealth Development Corporation), through ... More

MUTUAL FUNDS

HDFC Capital Builder Fund: Hold
THE HDFC Capital Builder Fund has registered a sharp improvement in returns after a shift in its investment strategy in the first quarter of 2003. With returns of around 63 per cent in the first nine months of 2003, the ... More

PruICICI Growth: Hold
INVESTORS can retain their exposures in Prudential ICICI Growth Fund. Over the past 18 months, the fund has consolidated on its performance as well as revealed a more consistent investment strategy. It has outperformed ... More

UTI Petro Fund: Invest
INVESTORS with a penchant for risk may consider exposures in the UTI Petro Fund. The NAV has run-up sharply as oil sector stocks have been in the limelight in 2003. But there may be room for further gains as higher oil ... More

Templeton India Pension Plan: Invest
INVESTORS in the Templeton India Pension Plan can hold on to their present investments in the fund, in light of the fund's good five-year track record. The fund continues to be a reasonable long-term investment option ... More

Alliance's assets — SEBI's unconvincing stand
IN ITS second order in the case involving Mr Samir Arora, former Chief Investment Officer of Alliance Capital Asset Management (India), the Securities and Exchange Board of India has come up with rather weak arguments ... More

STOCKS

Value picks in FI portfolios
Stocks in which ICICI, IDBI and IFCI hold stakes have run up sharply in value, backed by expectations of an economic revival. In most cases, it is an opportunity for shareholders to reduce exposures. However, in a few cases, there may be an investmen t opportunity. More

Blue Dart: Couriering returns

TECHNICAL ANALYSIS

Further upside in Apollo Tyres
ITC (Rs 889.2): As anticipated, the stock ruled firm and moved past the target zone of Rs 850-860 that was mentioned last week. The outlook remains positive and the stock has the potential to yield a return of at least 25 per cent for a ... More

Query corner
Kindly inform me the short and medium-term prospects of Global Trust Bank purchased at Rs 26. — Selvin Global Trust Bank (Rs 21.2): The stock has been stuck in a range in the recent weeks. The overall outlook does not ... More

Nearing crucial levels
Preferred view: The index ruled firm and moved past the target zone of 1490-1500. After halting for a couple of days at this range, the index resumed its uptrend in the last couple of trading sessions. In the process, Nifty has now managed ... More

STOCK MARKETS

Marked-to-monsoon
THE good monsoon has added its bit to the rising stock market. But in what is a common failing of a bull market, the good tidings are getting factored in too quickly. Good monsoon effect: Anticipating a ... More

DERIVATIVES MARKETS

High premiums due to increase in volatility
The October futures on the CNX IT had increased trading interest. With quarterly results for most of the tech stocks to be announced, almost all tech options have high IV. More

FOREIGN INSTITUTIONAL INVESTORS

Shareholding pattern — The FII stock is rising
ARE foreign institutional investors prodding the bull that is running up the market. For, the ownership pattern of listed companies for the last three quarters reveals that the FIIs are slowly garnering a larger ... More

COMMENTARY

Emerging markets steal the thunder
The three-month period ending September 2003 was the best third quarter since 1991 as investors' enthusiasm for shares has been rekindled on the back of an expected upturn in the global economy. More

Up `n' down the street
UCO Bank (Rs 19): The stock surged 62 per cent after making its debut in the bourses this week, at a 43 per cent premium to its issue price of Rs 12. CESC (Rs 83): The stock of this electricity generation and distribution company ... More

RECOMMENDATION

Tata Tea: The sip that pays
THE tea industry is passing through a difficult phase. The ballooning costs and consecutive losses of many companies have dampened investor sentiments. Among the established large players, the market share in the ... More

Infosys Technologies: Hold
INVESTORS can hold on to the Infosys Technologies stock, which now trades at a price to earnings multiple of just over 25 times its estimated earnings per share for the year ended March 2004. Uncertainties over revenue ... More

Unichem: Buy
FRESH exposures can be considered in the stock of Unichem Laboratories, a Mumbai-based mid-sized pharma company that predominantly derives its revenues from the domestic formulations business. The stock has appreciated ... More

Balrampur Chini: Buy (High Risk)
IMPROVING prospects for the sugar business have led to a sharp uptrend in the Balrampur Chini stock over the past four months, with the stock appreciating by nearly 50 per cent to Rs 165 levels. However, investors with ... More

MphasiS BFL: Hold
SHAREHOLDERS can stay invested in the MphasiS BFL stock. Factors such as the liquidity-driven price rally and the expected turnaround in pricing power of IT service companies suggest that it may not be prudent to pare ... More

Blue Dart: Couriering returns
FRESH investments can be considered in Blue Dart Express, the country's leading player in the express courier market. As Blue Dart's prospects hinge considerably on overall activity within the economy, the likely GDP growth of over 7 per cent ... More

Goodlass Nerolac: For a dash of colour
FRESH exposures can be contemplated in the Goodlass Nerolac stock, the country's second largest paint manufacturer. We continue to maintain a positive outlook on the stock, in spite of a sharp run-up in price over the past two months, as business ... More

Hughes Software: Hold
AIDED by a strong order pipeline, Hughes Software Systems (Hughes) recorded a robust performance and exceeded the higher end of the financial guidance for the second quarter ended September 30. The salient features of ... More