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Sunday, September 18, 2005


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OPEN OFFERS


SQL Star: Reject
SHAREHOLDERS may consider offloading their holdings in SQL Star International in the secondary market at the prevailing price of Rs 45. The open offer at Rs 41 may be rejected. The open offer to acquire a 20 per cent stake follows the ... More

Aptech: Reject
Shareholders of Aptech can reject the open offer being made at a price of Rs 61 per share. The current market price of Aptech at Rs 110 is significantly higher than the open offer price, reflecting the improving fundamentals in the computer ... More

Mather and Platt Pumps: Reject
Sharereholders of Mather and Platt Pumps could reject the open offer made by the WILO group of Germany, as the pricing is not attractive. The open offer is at a price of Rs 109.32 per share and covers 20 per cent of the equity. The stock, which ... More

Mather and Platt Fire Systems: Reject
Shareholders of Mather and Platt Fire Systems can reject the open offer made by the WILO group of Germany, as the pricing is unattractive. At about Rs 30, the stock trades at a substantial premium to the open offer price of Rs 14.69. The ... More

FINANCIAL SERVICES


Peninsular Capital to foray into `margin funding'
PENINSULAR Capital Market plans to enter `margin funding' in a big way, for which it needs money. Therefore, the Kochi-based company will first raise Rs 10 crore by way of private placement of shares. Later, perhaps next year, it will come out ... More

INVESTMENTS


Risk, returns and disciplined investing
If earnings growth stays low over the next five years and the PE also declines, then annual returns would not be attractive. If the decline in PE were sharper, you may wish you had never invested in equities. More

MUTUAL FUNDS


Principal PNB Dividend Yield Fund: Hold
WITH an absolute return of about 40 per cent, the Principal PNB Dividend Yield Fund has lagged its benchmark S&P CNX-500 as well as its peer Birla Dividend Yield Fund in the 11 months since its launch. The fund's tilt towards oil stocks appears . More

HDFC Capital Builder: Invest
AN investment can be considered in HDFC Capital Builder. The fund's portfolio sports a number of mid-cap stocks, which enhances its risk profile when compared to a typical diversified fund. Investors looking at increasing their exposure to ... More

FUND VIEW
Sustained interest among global investors likely
DOMESTIC markets scaled new heights during the year helped by a lot of positive news on the corporate and economic fronts. More important, FII flows continued at a robust pace, lending support to the bourses, as reflected in the fact that India ... More

PORTFOLIO MOVES
HSBC Mutual
THE market saw some volatility in August, but managed to reach new highs. Below-normal rainfall during the month did not dampen sentiments. Liquidity continued at same levels, as foreign institutional investors and domestic mutual funds remained ... More

Kotak-30: Invest
EXPOSURES may be considered in Kotak-30, as there is a greater consistency in performance now; the portfolio also appears well-positioned to capitalise on growth opportunities, and to weather any downward trend in ... More

Greater leeway for MFs in F&O market

  • Mutual funds have been given greater leeway to participate in the futures and options market. They will now be on par with the FIIs. So far they have been allowed to invest in such products for hedging and rebalancing of portfolios. Mutual ... More

    FUND TALK
    Learning centres on the Web
    I want to make a start with mutual fund investing. I would like to learn more about mutual funds. Where can I get information on the A-Z of mutual fund investing? I also want to know how to assess mutual fund performance so that I can select ... More

    TECHNICAL ANALYSIS


    Near-term outlook remains bullish
    Preferred View: The market sentiment was distinctly bullish and the index managed to move past the 2500-point mark during the week. As observed in earlier weeks, the Nifty has moved into our target zone of the 2550-2600 range. ... More

    Upside likely in SBI
    SBI (Rs 900.7): The price movement was in alignment with the bullish view expressed last week. The stock ruled firm and also moved comfortably past the target zone of the Rs 885-890 range. After touching a high of Rs 909.5 on Wednesday, ... More

    Focus of the week
    VSNL (Rs 396.4): The stock is in a long-term uptrend. After being confined to a corrective phase over the past few weeks, the share price appears to have commenced the next leg of the upward move. A move to the Rs 445-450 range appears ... More

    Query corner
    What is your view on Syndicate Bank and Cummins India? Will it be advisable to take long positions in the futures market in these stocks? — Kanchan Garg Syndicate Bank (Rs 84.6): The recent uptrend is not over as yet. ... More

    STOCK MARKETS


    Who's pumped up about the market, and who isn't
    AS THE market continues to scale new peaks, expert views on current valuations and the direction in which the market is headed are becoming increasingly diverse. The divergence between prominent foreign ... More

    The case for staying invested
    DIVERSE as they are, the views of both foreign brokerages and domestic fund managers on the market are compelling. There is still, it seems, a case to be made for investing in Indian equities from a long-term perspective. To begin with, ... More

    Riding the market boom with weak fundamentals
    AS the stock market is booming, bulls don't seem to leave even stocks of companies with weak fundamentals. Share prices of such companies have seen sharp appreciation in the last month with price rising as much as 300 per cent in some stocks. A ... More

    CPI MP seeks probe into stock market rally
    THE Communist Party of India (CPI) MP and General Secretary of the All India Trade Union Congress (AITUC), Mr Gurudas Das Gupta, on Saturday demanded an immediate enquiry into the source of funds that is pushing the stock market indices to ... More

    Our trading biases have deep evolutionary roots
    HORSES are tied by the heads, dogs and bears by the neck, monkeys by the loins, and men by the legs, says the Fool to King Lear, and adds, "When a man is over-lusty at legs, then he wears wooden nether-stocks." I'm sure ... More

    DERIVATIVES MARKETS


    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


    Indian stocks are hot picks for foreign investors
    Value of foreign holding in Nifty stocks doubles

    FOREIGN investors continue to fancy large-cap Indian stocks with the flood of dollars going into these stocks remaining unabated. During the period June 2004 to June 2005, they have pumped in about Rs 28,000 crore or just more than $6 ... More

    RECOMMENDATION


    Indiabulls Financial Services: Buy
    The stock is trading at price-to-earnings multiple of 23 times its annualised earnings for FY 06, based on the numbers for the quarter ended June 2005. The valuation is attractive considering the growth prospects for financial services in ... More

    Sonata Software: Hold
    INVESTORS can consider retaining their exposures in the Sonata Software stock. As the stock has run up sharply in the past few months, it may be prudent to take fresh or additional exposures only at declines linked to ... More

    Chemplast Sanmar: Buy
    INVESTORS can consider taking fresh exposures in the Chemplast Sanmar stock, which trades at about 16 times its trailing 12-month earnings. Buoyed by a sharp drop in interest expenditure and a higher operating profit, ... More

    Aditya Birla Nuvo: The new cash cow on the block
    Indian Rayon: Buy
    Indo-Guld: Hold
    Birla Global: Hold
    More

    Hindalco: Buy
    HAVING just completed the stock-split exercise and an imminent rights issue, the Hindalco Industries stock could deliver attractive returns in the medium term. Fresh exposure can be considered in the stock, which trades at a multiple of about ... More

    IPOS


    Southern Online Bio Technologies: Avoid
    INVESTORS can give this public-cum-rights offer from Southern Online Bio Technologies Ltd the miss. The public offer is to fund the company's entry into the business of producing biofuel from plant seeds. This is an emerging business area but ... More

    RIGHTS ISSUE


    Tilaknagar Industries: Invest
    SHAREHOLDERS of Tilaknagar Industries may consider subscribing to its rights offer. The rights offer, in the ratio of 1:2, is being made at Rs 20, a discount of 74 per cent to the market price of Rs 77. The valuation for the offer attractive. ... More

    CARTOON


    Cartoon
    "Well, ask the bird to tell me just my future. I'll think about outsourcing my financial planning to it later."

    More


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