The Hindu Business Line : Sunday, December 14, 2003

Preferential allotment — SEBI plans curbs on promoters selling equity
IN an effort to plug a loophole in preferential allotment guidelines, a SEBI panel has proposed to ban promoters selling from their equity holding six months before and after they make a preferential allotment of equity shares to themselves. A ... More

MUTUAL FUNDS

SEBI stipulates minimum 20 investors for MF schemes
IN a bid to stop mutual funds operating like portfolio management schemes, the Securities and Exchange Board of India (SEBI) has stipulated a minimum of 20 investors and a single investor not accounting for more than 25 per cent in each scheme of ... More

Soros plans to buy out GIC in mutual fund
THE global investor, Mr George Soros, has proposed to buy out General Insurance Corporation (GIC) and its associates' majority stake in GIC Mutual Fund. A proposal to this effect was presented to the GIC MF board recently. Soros Fund ... More

Sundaram Taxsaver: Hold
INVESTORS can retain their present exposures in Sundaram Taxsaver. Over the past year, the fund has generated returns of around 94 per cent, in line with returns generated by other top performing diversified funds. The ... More

Income funds — Staying on is a safer option
AFTER about two years of relentless rise in values, the net asset values (NAVs) of debt mutual funds have fallen in the last couple of months. They have declined by about 0.7 per cent, on an average, in the last month. ... More

Magnum Multiplier Plus Scheme: Book profits partially
INVESTORS in the SBI Magnum Multiplier Plus scheme (MMPS) can book profits on part of their holdings to lock into the impressive gains over the past year. Reversing its disappointing run of the preceding years, ... More

HDFC Equity Fund: Invest
INVESTMENTS can be considered in the HDFC Equity Fund, which, till six months ago, was the Zurich India Equity Fund, as it continues to be an impressive performer. The fund's track record over the ongoing bullish ... More

UTI Mutual Fund

UTI Mutual Fund has announced a dividend of 100 per cent (Rs 10 per unit) for Master Equity Plan 1998, Master Equity Plan 1999 and Master Value Unit Plan. The NAVs of the funds are Rs 22.6, Rs 33.8 and Rs 31.1 ... More

TECHNICAL ANALYSIS

Positive outlook for Wipro
Wipro (Rs 1609.4): The stock was confined to the limits of the bullish and bearish trigger price level of Rs 1650 and Rs 1420 respectively. The recent price pattern indicates that the stock could seek higher levels. A move past Rs 1650 ... More

Focus of the week
Elder Pharma (Rs 158): The share price has managed to move to the earlier mentioned (Edition dated November 9) target zone of Rs 145-150. The near-term outlook appears positive. The stock could move past the Rs 185-190 range in the near ... More

Further upside on the cards
Preferred view: The index moved right in line with previous week's expectations. As anticipated, Nifty recovered ground after a brief correction on Monday. Though the expected short-term weakness turned out to be short-lived, the index ... More

Query Corner
Please advise about Moser Baer and Lyka Labs. I intend to accumulate these stocks in huge quantity. — S. Venkata Ramanah Moser Baer (Rs 291.4): Despite the sharp run up in price in the recent months, there still appears ... More

STOCK MARKETS

Bull market: 1994-95 and now
On stronger ground, this time around
THE current bull phase, which appears to have momentum left still — despite a long-overdue correction — has been so broad-based as to make difficult zeroing-in on any sector that has missed the bus. In ... More

Risk factors for current bull market
Enhanced global linkage was perceived as a threat in the mid 1990s. Now it is viewed as a growth opportunity, especially for the auto component, pharmaceuticals and information technology sectors. More

Auto components stocks — Is the acceleration for real?
There is a growing impression that the next wave of outsourcing from India will be in auto components. The truth is that there are few companies that measure up to the rigorous standards required for supplying to multinational majors. More

Bulls on the rampage — Beware the horns and hoofs
Trying to ride the uptrend in a long list of stocks of companies with dicey credentials carries high risk. Exit option in most of the 1,200 stocks that have resurfaced on the trading list of the BSE has to be actively considered. More

Global markets end flat
IT was business as usual at the global equity markets; November was no exception as most of them created history of sorts by scaling new heights. But call it profit-takings, terrorist attacks (at Turkey) or corrections, global markets gave up ... More

DERIVATIVES MARKETS

Weak undertone in Nifty prevails
The put-call open interest ratio and the put-call volumes ratio on the Nifty options also point to weakness in the Nifty. Both the ratios have increased over the week. More

Using futures/options
What is the difference between the covered call (9/11/2003) and vertical spreads (bull call spread and bull put spread) - R Ganesan The two aspects, which make the bullish strategies - covered call and vertical spreads - different, ... More

Options guide
Call option: A call option gives the buyer `the right but not the obligation' to buy the stock at a specified price on a future date. Put Option: A put option gives the buyer `the right but not the obligation' to sell a stock ... More

FOREIGN INSTITUTIONAL INVESTORS

FIIs, NRIs can buy Bharti Tele shares
MUMBAI: The Reserve Bank of India has said the holdings of foreign institutional investors, NRIs and persons of Indian origin (PIOs)in Bharti Tele Ventures Ltd have fallen below the stipulated 48.5 per cent. An RBI notice said FIIs, NRIs ... More

RECOMMENDATION

Black and glossy
Asian Paints: Buy
Goodlas Nerolac: Hold/Buy on declines
Berger Paints: Hold/Buy on declines
More

Eicher/Eicher Motors: Poor harvest
Eicher: Pare exposures
Eicher Motors: Pare exposures
More

Atul: Hold/buy on declines
SHAREHOLDERS can retain their holdings in Atul, a member of the Lalbhai Group, taking into consideration the improved growth prospects, its eminent position in the dye segment and the company's increased focus on ... More

KPIT Cummins: Buy
KPIT Cummins Infosystems represents a good investment choice for investors with a medium-term perspective. The stock trades at a fairly stiff price-earnings multiple of 15 times its annualised per share earnings of ... More

IFCI: Hold
SHAREHOLDERS of IFCI can continue to hold the stock. The company's financial profile is set to improve, thanks to such measures as infusion of grants by the Government and the reduction in interest costs. This could ... More

Coromandel Fertilisers: Hold
The inorganic route that Coromandel Fertilizers has taken to further its growth plans comes with a dose of risk. But the company appears to have made all the right moves to mitigate these risks, says Aarati Krishnan. More

MRF: Buy
LONG-term investors can contemplate exposures in the tyre major MRF at the price of Rs 2,163. Though the stock has already appreciated by 140 per cent this year, there appears to be still scope for gains. The growth in automobile sector along ... More

Container Corporation: Long-term buy
Investments can be made in the stock of Container Corporation of India (Concor), which is a monopoly in containerised ferrying of cargo, at Rs 611. Any declines can be put to effective use to take exposures. Diversification of supply sources for ... More

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