The Hindu Business Line : Sunday, September 11, 2005

`You have to back ideas strongly to get good returns' — Mr Sandip Sabharwal, Head, Equity, SBI Mutual Fund
Owning too many stocks is a sign that you may be buying every investment idea that comes your way, instead of backing a few good ones strongly. We like to keep our portfolios small, so that we can closely track every stock in each portfolio. More

DSP-ML's Super SIP — A good combination product
For a non-smoker, a very competitive term assurance plan is available from Kotak. A non-smoker under the age of 30 would be better off considering the special term plan from Kotak and invest separately in mutual funds through the SIP route. More

Kotak Equity Fund of Funds: Hold
INVESTORS in Kotak Equity Fund of Funds can stay with the fund. A fund of funds is an equity fund that invests in other equity schemes. The fund's performance has been below average compared to the universe of equity ... More

SPOTLIGHT
JM Equity Fund: Hold
AFTER a rather indifferent performance in 2004, JM Equity has delivered an above-average return of 70 per cent over the past year. The improvement in performance could be largely attributed to a higher allocation to ... More

FUND TALK
Equity funds for school admissions
If your target returns are not very high and you have a short investment horizon, a combination of debt and equity funds, or balanced funds may be better choice than pure equity funds. More

StanChart launches Premier Equity Fund

Franklin Templeton Mutual Fund is to declare a dividend on Franklin India Opportunities Fund. The record date for dividend payout is September 14.

Chola Mutual has declared a dividend of 20 per cent on Chola Midcap Fund. The record ... More

TECHNICAL ANALYSIS

Reversal signs not in sight
Preferred View: Except for a strong upward move on Thursday, the market action during the week was devoid of any momentum. The index, however, managed to hit a new lifetime high during the week. Though there is no indication of a ... More

Positive outlook for Tata Steel, SBI
SBI (Rs 855): The price movement was in sync with the bullish view expressed last week. The stock ruled firm and also moved to the target zone of the Rs 845-850 range. The outlook remains bullish and the stock could move to the next target ... More

Focus of the week
Opto Circuits (Rs 227.1): The long-term trend for the stock is bullish. The stock could move to the Rs 290-300 range. The conformity of the stock's price pattern to the Elliot Wave theory is almost straight out of the textbook. The ... More

Query corner
Kindly advise me on my holdings in Reliance Capital and Tata Sponge. — R. Pillai, J.P. Garg Reliance Capital (Rs 469.4): Even after the recent run-up, the stock appears to have upside potential. Though the stock could get ... More

STOCK MARKETS

Nuts and bolts of settlement and payment
An account period settlement is a settlement where the trades pertaining to a period stretching over more than one day are settled. For example, trades for the period Monday to Friday are settled together. The obligations for the ... More

DERIVATIVES MARKETS

Videocon Intl crosses market-wide limit
DESPITE Nifty recording a new high, trading activity in the derivative segment on the NSE slipped last week. The average daily turnover was Rs 11,495 crore against the previous week figure of Rs 12,828 crore. Accumulation of open interest ... More

F&O POINTERS
Positive bias on Nifty
Nifty outlook: Last week, we had indicated that Nifty might head northwards. In line with our expectation, the Nifty moved up with sizzling speed to record its all-time high level. We had advised our investors to go long on Nifty keeping ... More

FOREIGN INSTITUTIONAL INVESTORS

SAT order on UBS case — FII regulations grey still
IN YET another high-profile case, the Securities Appellate Tribunal (SAT) has overturned an order of the Securities Exchange Board of India. In May, SEBI had issued an order prohibiting UBS Securities Asia from issuing ... More

RECOMMENDATION

Timken India: Buy
AN investment may be considered in Timken India at the current price of about Rs 150. Buoyant demand for its products, access to a substantially wider product pipeline following a key acquisition by the global parent, the emergence of the Indian ... More

Emco: Buy
INVESTORS can consider taking exposure in the Emco stock. At the current price, it trades at about 19 times its expected FY06 earnings. The price earnings multiple is attractive compared to its peers. Gradually improving performance, key ... More

Jindal Saw: Hold
With a view to restructuring its capital and lowering the component of high-cost debt, Jindal Saw recently completed a $40-mn ECB issue. However, the risk stems from the possibility of pressure on margins due to higher input costs. More

Glenmark Pharma: Hold
INVESTORS can retain their holdings of the Glenmark Pharma stock, which trades at about Rs 290. The stock has been among the best performers in the mid-cap space over the past couple of years and with a market cap in excess of Rs 3,000 crore ... More

Grasim: Buy
AN INVESTMENT may be considered in Grasim Industries as there appears to be scope for sizeable capital appreciation linked to an improvement in its fundamentals as well as those of subsidiaries in the cement sector over the next couple of years. ... More

Tanfac Industries: Hold
INVESTORS may consider retaining their holdings in the stock of Tanfac. The company's margins have declined over the years and it has recorded a loss in the trailing twelve-months, largely owing to loss in the preceding two quarters. But Tanfac ... More

Kajaria Ceramics: Buy
BUOYED by the improved business prospects and growth in earnings, the stock prices of companies in the ceramic tile industry have moved up the past few months. Industry heavy weight Kajaria Ceramics is no exception. Taking into account the ... More

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