The Hindu Business Line : Sunday, July 31, 2005

HDFC Mutual Fund — Altered exposure in almost all stocks
While HDFC Mutual Fund has increased its exposures in steel, ceramics, automobiles and textiles, it did not make any significant changes in its heavyweight stocks, barring Satyam Computer Services. More

PruICICI Emerging S.T.A.R: Hold
INVESTORS can retain their holdings in Prudential ICICI Emerging S.T.A.R Fund. The fund, which is focussed on mid-cap stocks, was launched last October. Since then, it has delivered an impressive return of more than 50 ... More

HDFC Equity: Invest in small lots
AN investment can be considered in HDFC Equity Fund, as its strategy could deliver attractive returns. The fund, which used to focus on large-cap stocks, has shifted tack and now invests in the mid-cap space too. ... More

Tata Equity P/E Fund: Hold
AFTER a fairly good start in the first six months after its launch, the performance of Tata Equity P/E fund has deteriorated. The decline over the past year, however, need not cause undue alarm. A number of funds ... More

Don't mind the load
I have invested in Prima and Bluechip of Franklin Templeton using systematic investment plan (SIP) between February 05 and July 05. When I started SIP, this investment was free from entry load and subject to exit load only if redeemed within a ... More

Principal MF declares 40% dividend

Principal Mutual has declared a dividend of 40 per cent on Principal Resurgent India Equity. This is the second dividend declared on the fund in 2005. The record date for the dividend payout is July 29.

ING Vysya Mutual has ... More

TECHNICAL ANALYSIS

Short-term correction likely in Nifty
Preferred view: The market sentiment remained bullish during the week while the trading volumes took a knock owing to torrential rain that lashed Mumbai. The Nifty ruled firm and moved to the target zone of the 2320-2330 ... More

Query corner
I purchased SRF at Rs 145 and Apollo Hospital at Rs 335. At what levels would you advise to exit these stocks? — Abhaya Kumar Shah SRF (Rs 259.9): There appears to be no reason to exit the stock now, as the long-term ... More

Bullish outlook for SBI
SBI (Rs 800.8): This stock was among the top performers of the past week. The share price ruled firm and also moved well past the target zone of Rs 755-760 that was mentioned earlier. The short-term outlook remains bullish and a move to ... More

Focus of the week
FDC (Rs 50.8): The stock has already moved past the price target of the Rs 52-55 range mentioned in the edition dated May 15. The outlook remains bullish and the share price could move to the next target zone of the Rs 68-70 range shortly. ... More

STOCK MARKETS

Mid-cap software stocks — Keying up for consolidation

VEN as the mid-cap software services story was building up nicely until the last quarter, there came a twist in the tale. When Hexaware Technologies and KPIT Cummins scaled down their ... More

Weathering the quarterlies
A few analysts tend to make accurate forecasts of a company's earnings; a few miss them by a mile. The trouble begins when a wide range of such estimates are aggregated into a "consensus" view that falls between the two extremes. More

DERIVATIVES MARKETS

Heightened activity
THE NSE witnessed an all-time high turnover at the derivative segment last week on Friday at Rs 25,421 crore; overall, the average daily turnover for the week rose to Rs 20,015 crore against the previous week's figure of Rs 13,656 crore. Hectic ... More

F&O POINTERS
Downward bias likely in Nifty
Nifty outlook: Last week, we had expected a limited upside for the Nifty and indicated a support level at 2230; we had indicated that if it breaches 2280 levels it could go up to 2295-2300 levels. But the Nifty did not see a correction and ... More

FOREIGN INSTITUTIONAL INVESTORS

`FIIs must invest in listed entities, comply with entry, exit rules'
THE Union Finance Minister, Mr P. Chidambaram, said foreign institutional investors were regulated investors and perforce have to be registered with the Securities and Exchange Board of India and strictly comply with the regulations pertaining to ... More

RECOMMENDATION

Maharashtra Seamless: Buy
AN investment can be considered in the stock of Maharashtra Seamless. At its current price of about Rs 415, the stock trades at about 10 times its likely FY06 earnings. Although the stock has run up sharply in the past few months, we remain ... More

Britannia Industries: Hold
SHAREHOLDERS can hold the Britannia Industries stock, given its relative low valuation vis-a-vis other FMCG players. At its current price-earnings multiple of about 15 times its trailing 12-month earnings, the ... More

India Cements: Hold
SHAREHOLDERS can retain their holdings in the India Cements stock, as there could be room for gains linked to improving fundamentals and the likelihood of debt reduction. Robust growth in volumes, higher cement ... More

TVS Motor: Reduce exposures
THE competitive pressure has taken a toll on the profitability of two-wheeler producers, including TVS Motor. Shareholders can consider trimming exposure in the TVS Motor stock, as the pressure on profitability ... More

Cipla: Buy
AN INVESTMENT can be considered in the stock of Cipla, a leading player in the domestic market, at the current price of Rs 335. At this price, the stock would be available at a multiple of 21 times its expected per ... More

IPOS

HT Media: Invest at cut-off
AN INVESTMENT can be considered in HT Media, as it will be the premier print-media player in the listed space and has the potential to deliver attractive gains over the long term. Investors with an appetite for risk can ... More

SEBI GUIDE
Nuts & bolts of equity offer
What is the amount of faith that I can lay on the contents of the documents? And whom should I approach if there are any lacunae? The document is prepared by an independent specialised agency called Merchant Banker, which is registered ... More

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