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Sunday, April 24, 2005

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OPEN OFFERS


Century Enka: Reject
INVESTORS can reject the offer made by the acquirers of Century Enka, as the price is unattractive. The price which, including interest, amounts to Rs 114, is well below the current market price of Rs 142. CVC ... More

Panyam Cement: Accept
SHAREHOLDERS can sell their holdings in Panyam Cement and in case they are unable to do so, accept the open offer on April 27. The stock trades at a premium of about 40 per cent to the open offer price of Rs 101. ... More

MUTUAL FUNDS


HDFC Core & Satellite Fund: Hold
INVESTORS in HDFC Core & Satellite Fund can stay with the fund. Its performance since its launch in September 2004 has not been impressive. It has lagged its benchmark, BSE-200, for some of this time. Returns, till ... More

SBI Magnum Multiplier Plus: Hold
INVESTORS in SBI Magnum Multiplier Plus can retain their holdings as the fund's performance appears to be encouraging, especially in the highly volatile market of the past year. It has notched up a fairly good track ... More

Should I retain Bluechip Fund?
A recent report says that Franklin India Bluechip's one-year return is 9 per cent, which is very much lower than its peers. Should I continue to hold the units of Bluechip or redeem and shift to another fund? Please advise. Seetharaman ... More

TECHNICAL ANALYSIS


Short-term gain likely in Nifty
Preferred view: The index moved in line with expectations. A bearish trend prevailed last week and the Nifty moved to the vicinity of the target zone of the 1895-1900 range. The recent patterns indicate the possibility of a short-term ... More

Tata Power may seek higher levels
Tata Power (Rs 362.35): The stock moved closer to the target zone of Rs 318-320. After touching a low of Rs 325, the trend turned positive on Monday. The recent price pattern suggests that the stock could seek higher levels in the near ... More

Query corner
Is there any upside potential in the near future for Karnataka Bank bought at Rs 73.5? — M.K. Naik Karnataka Bank (Rs 69.1): There appears to be little downside risk from prevailing levels. Taking into account your entry ... More

Focus of the week
Jindal Saw (Rs 316.1): The stock has moved to the earlier mentioned (edition dated February 20) target zone of Rs 320-325 range. After touching a high of Rs 322.45, the stock closed slightly lower at Rs 316.1 on Friday. The long-term trend ... More

STOCK MARKETS


Frontline software companies — Keep faith in their growth program
WHAT a difference a quarter can make to investor perception of the fortunes of the software sector. The calendar year started bullishly. Practically all the key variables — robust volume growth for offshoring ... More

DERIVATIVES MARKETS


Nifty may remain in a range
TRADING activity picked up at the derivative segment on the NSE last week ahead of the settlement for April contracts on the ensuing Thursday. The average daily turnover jumped to Rs 10,071 crore against the previous week figure of Rs 7,663 ... More

Adjustment for corporate actions
THE basis for any adjustment for corporate actions shall be such that the value of the position of the market participants, on the cum and ex-dates for the corporate action, shall continue to remain the same as far as possible. This will ... More

  • Options guide
  • Futures guide

    FOREIGN INSTITUTIONAL INVESTORS


    FII investment in Bharat Forge, Divi's
    THE Reserve Bank of India has allowed foreign institutional investors to buy equity shares and convertible debentures of Bharat Forge up to 40 per cent and of Divi's Laboratories up to 30 per cent. FII investment in these companies has been ... More

    RECOMMENDATION


    HCL Infosystems: Buy
    INVESTORS with a medium term perspective can consider an exposure in the HCL Infosystems stock at current price levels. It remains a good option for those seeking a diversified portfolio in the IT market. The stock is trading at a price ... More

    India Glycols: Buy
    AN investment can be considered in the India Glycols stock, which quotes at about five times its expected 2005 fiscal earnings. India Glycols is the only manufacturer of monoethylene glycol (MEG) other than the ... More

    Monsanto India: Buy
    INVESTORS can consider adding the Monsanto India stock to their portfolio, as it offers the prospect of healthy appreciation linked to steady earnings growth. After the recent decline, the stock trades at a ... More

    IPOS


    Shopper's Stop: Invest at cutoff
    INVESTORS can consider subscribing to the initial public offering of Shopper's Stop, the third retailer to enter the listed space. We believe that, given the stiff valuations at the offer price, listing gains are ... More

    India Infoline: Invest at Rs. 80
    INVESTMENT in the book-built initial public offer of India Infoline can be considered at Rs 80, the upper end of the price band. The offer (though open till April 25) is already over-subscribed at the upper end of the ... More

    Mangalam Drugs: Invest
    AN INVESTMENT can be considered in the IPO of Mangalam Drugs and Organics, which makes bulk drugs, intermediates and specialty chemicals. At the offer price of Rs 22, the stock would be valued at about six times its ... More

    RIGHTS ISSUE


    SISCOL: Invest
    SHAREHOLDERS can consider investing in the rights offer of Southern Iron and Steel (SISCOL), as the prospects for appreciation are attractive. Our recommendation is based on the positive outlook for the steel sector, ... More
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