The Hindu Business Line : Sunday, October 16, 2005

`Women must take active role in investment decisions'
WOMEN have proved to be quite successful in all walks of life, then why not in stock market investments, Ms Deena Mehta, former president of the Bombay Stock Exchange, asked? Inaugurating here the women's only branch of Geojit Financial ... More

Refco's Indian arms told not to increase market exposure
TWO Indian affiliates of Refco, the troubled global financial services firm, have been asked by Indian stock exchanges not to increase their exposure both in the capital and derivative segments of the market. These two affiliates — Refco ... More

MUTUAL FUNDS

`We will continue with the dividend policy' — Mr Sanjay Sinha, Fund Manager, UTI Mutual Fund
Mastershare's objective is to identify stocks that have a fair chance of appreciating within a year so that we can book profits and distribute dividends every year. More

Sundaram Select Focus: Sell
UNITHOLDERS of Sundaram Select Focus can exit as there are comparable funds with a better track record. Launched in July 2002, the fund aimed at focusing on only a select number of stocks. Typically, this would mean that the top ten stocks ... More

HDFC Core & Satellite Fund: Buy
AN investment may be considered in HDFC Core & Satellite Fund, as it appears to have the potential to maintain its impressive performance and a portfolio tilt that could stand in good stead in a choppy market. After a sluggish start, the ... More

STOCKS

In a long bull market — The misses that became hits
ABAN Loyd Chiles, Balkrishna Industries, Bharat Bijlee, Gammon India, GMM Pfaudler, Manugraph Industries, McDowell, Mercator Lines, Sintex Industries and Vimta Labs: This portfolio would have been a 20-bagger had ... More

TECHNICAL ANALYSIS

Further weakness likely in Nifty
Preferred view: The market sentiment remained bearish during the week gone by. As anticipated, the index turned weak after registering a brief rally towards the resistance level of 2610-2620. The index touched a high of 2592 on ... More

Tata Steel in oversold zone
Tata Steel (Rs 379): The breach of the negative trigger level at Rs 390 resulted in a drop to the target zone of the Rs 375-380 range. The stock has now been pushed to extreme oversold zone and a relief rally may be just round the corner. ... More

Focus of the week
Arvind Mills (Rs 126): The stock is in a major downward corrective phase since December 2004. As a result, it has underperformed the market indices, as well as others in the industry. The outlook is bearish, as the corrective phase does ... More

Query corner
Kindly advise on the prospects of SB&T International bought at Rs 101. — K. Rajmohan SB&T International (Rs 76): After touching a high of Rs 135 in April, the stock has been on a major downward corrective phase. A ... More

STOCK MARKETS

Towards sustainable stock market liquidity
Given the superior performance of equities over other asset classes over long periods of over ten years, domestic investors have no choice but to step up their exposures to stocks. Over the years, if they increase their allocation to equities, domest ic mutual funds and insurance companies will become bigger investors than FIIs. More

SEBI effect: Small-cap, penny stocks lose steam, fall 50 pc
PRICES of several small-cap and penny stocks, which were driven up during the July-September bull rally, have fallen sharply in the last few weeks. This follows the SEBI action against some promoters and companies for manipulating stock prices ... More

Public announcement in takeovers
A public announcement is one made in newspapers by the acquirer primarily disclosing his intention to acquire shares of the target company from existing shareholders by means of an open offer. What are the disclosures required to be made ... More

DERIVATIVES MARKETS

Options guide

RECOMMENDATION

Tata Investment Corporation: Buy
The stock is trading at a significant discount to its intrinsic value. This discount offers considerable downside protection to investors. This is valuable considering the excessive volatility in stock prices. Investors can also consider putting ... More

TCS: Buy
AS THE demand environment for offshoring continues to be buoyant, we remain bullish on the growth prospects of Tata Consultancy Services in the second half of FY2006. The company's success in bagging two $250-million ... More

Infosys: Buy
A ROBUST double-digit revenue and earnings performance for the second quarter has strengthened the fundamentals of Infosys Technologies and set the stage for an improvement of its valuation. Based on the revised ... More

Pfizer: Hold
COME rain or shine, the focus at Pfizer appears to be on delivering results. That is the impression one gets looking at the company's earnings card for the quarter-ended August 2005. In a quarter that saw Mumbai being ... More

MICO: Buy
LONG-TERM investors may include Motor Industries Company (MICO) in their portfolio. The encouraging growth prospects and the rising contribution from exports are major positives. Though the profitability in the near ... More

i-flex solutions: Reject
SHAREHOLDERS of i-flex solutions may avoid tendering to the open offer being made by Oracle Corporation to acquire an additional 20 per cent equity stake in the company. The open offer price of Rs 882.62 works out to ... More

Alok Industries: Hold
SHAREHOLDERS can retain their holdings of the Alok Industries stock. A buoyant export market, new capacities that would go on stream over the next couple of months and a greater contribution from high-margin products ... More

IPOS

K. M. Sugar: Avoid
INVESTORS who are risk-averse can avoid the initial public offer of K. M. Sugar Mills. Though the asking price is modest, the company's financial performance record is not consistent and there are superior investment ... More

Gujarat Industries Power Company: Avoid
INVESTORS can stay away from the book-built public offer of Gujarat Industries Power Company offered in the Rs 63-75 price band. The stock trades at Rs 78 and appears to be fully priced at current levels. Lack of ... More

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