The Hindu Business Line : Sunday, July 24, 2005

Why size is no problem for equity funds
Fund size is a relative metric. Size is not yet an issue for a diversified fund that can choose any stock in the Indian investment universe. The pattern of inflows into a fund and the churn in its assets play a far greater role in performance. More

Reliance Mutual Fund's ELSS comes with accident cover
WITH Equity Linked Savings Scheme (ELSS) becoming the flavour of the season, Reliance Mutual Fund (RMF) is coming out with an ELSS next week. While the key features of the new offering are similar to that of the existing ELSS from other funds, ... More

PruICICI Income Multiplier Fund: Hold
INVESTORS in PruICICI Income Multiplier Fund can stay with the fund. Its performance since its launch in February 2004 has been encouraging, and far superior to that of many monthly income plans. This confirms the ... More

SPOTLIGHT
Birla Dividend Yield Plus: Invest
INVESTING in a portfolio of high dividend-yielding stocks has repeatedly delivered good results in the Indian markets. For investors who would like to try this strategy, the Birla Dividend Yield Plus is a good ... More

MFs wary of accepting fresh applications

Reliance Capital Mutual has announced that it will not accept fresh applications for the Reliance Growth Fund after August 14, 2005 or when the corpus exceeds Rs 1,700 crore, whichever is lower. The fund will be closed for investment for a ... More

FUND TALK
How do I plan my portfolio?
Commit to SIPs in these funds on year at a time, so that you will have the flexibility to change your investment mix when you desire. More

TECHNICAL ANALYSIS

Query corner
What is your opinion on Kesoram Industries and Bell Ceramics purchased at Rs 132 and Rs 30 respectively? — B. Vijay Kumar, Krishan Kumar Kesoram Industries (Rs 129.4): The sharp recovery over the past few weeks could lead ... More

Indices present bullish picture
Preferred view: The market movement was in line with expectations. The Nifty ruled firm and moved to the target zone of 2250-2300. The near-term outlook appears positive. The Nifty is headed towards the immediate resistance zone at the ... More

SBI appears on course to touch Rs 760
SBI (Rs 721.1): The share price has been moving in a trading zone in the recent weeks. The recent sideways movement is likely to end soon and the earlier uptrend is expected to resume shortly. The earlier view of a rally to Rs 755-760 is ... More

Focus of the week
Bombay Dyeing (Rs 372.1): As observed in earlier weeks, the stock is in a long-term uptrend. It could move to the Rs 415-420 range. After a sharp rally, the stock has been in a corrective mode since early April. This corrective phase ... More

STOCK MARKETS

Online trading: Paperless and convenient
HAVE you wanted to buy or sell a stock urgently, but could not reach your broker? Or, has your well-meaning broker disregarded a buy/sell order because he felt it was against your best interests, and you ended up losing? Such instances can really ... More

DERIVATIVES MARKETS

Heightened rollover
The average daily turnover declined to Rs 13,656 crore against the previous week figure of Rs 15,517 crore. Hectic activity in puts was seen. Huge rollover of positions were seen in the Nifty and some frontline stocks. The Nifty August ... More

F&O POINTERS
Weak outlook for Nifty
Nifty outlook: Last week, we had expected the Nifty to remain in the 2240-2160 range and said if it crossed the 2240 barrier, it could surge to 2280 levels on the upper side, and to 2150-35 levels on the lower side if it dips below 2160. ... More

REGULATORY BODIES & RULINGS

What's red herring prospectus?
What is the difference between an offer document, RHP, a prospectus and an abridged prospectus? What does it mean when someone says "draft offer doc"? "Offer document" means Prospectus in the case of a public issue or offer for sale and ... More

RECOMMENDATION

Andhra Sugars: Buy
INVESTORS may consider buying in to the stock of Andhra Sugars, which at Rs 140 trades at a PE of 10 times its FY-05 earnings. The company derives revenues of about 40 per cent each from caustic soda and sugar, while energy and other ... More

i-flex Solutions: Book profits
SHAREHOLDERS may consider booking profits on part of their holdings in i-flex Solutions as the stock has run-up by over 50 per cent since the earnings announcement in end April. At Rs 920, the stock commands a rich price earnings multiple of 25 ... More

Cosmo Films: Sell
SHAREHOLDERS can sell their holdings in the Cosmo Films stock, which quotes at 15 times its earnings for FY-05 and about 1.2 times its book value. The company faces a number of challenges in its business and there are many other players in ... More

L&T: Hold
SHAREHOLDERS of Larsen & Toubro can retain their holdings in the stock. Despite the rich valuations and inconsistent order flows seen in FY-05, we remain positive on the company's ability to capitalise on imminent macro opportunities. At Rs ... More

SAIL: Buy
SHAREHOLDERS can consider fresh exposures in the stock of Steel Authority of India Ltd (SAIL). Attractive valuations, improved financial profile, gains from capacity expansion, positive earnings outlook, synergies from ... More

KPIT Cummins: Sell
SHAREHOLDERS can consider pruning their exposures in the stock of KPIT Cummins in the light of the downward revision in the revenue and post-tax earnings guidance for 2005-06 and disappointing first quarter ... More

Corporation Bank: Pare exposures
SHAREHOLDERS of Corporation Bank can consider reducing their exposure to the stock, which trades at valuations that are far superior to the stocks of other public sector banks. Corporation Bank's performance, ... More

Taj GVK: Hold
SHAREHOLDERS can hold the Taj GVK stock. Sustained buoyancy in tourist arrivals and shortage in supply of rooms in key metros are likely to ensure that the hotel industry enjoys another year of strong growth. Taj ... More

ECONOMIC OFFENCES

SAT chief quits amid UBS controversy
SEBI to replace counsel; hearing on Aug 2
IN the latest twist to the UBS Securities case pertaining to last year's stock market crash, the Presiding Officer of the Securities Appellate Tribunal (SAT), Mr Kumar Rajaratnam, has resigned from the appellate. Whether the resignation will be ... More

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