MARKETS
FINANCIAL SERVICES
PORTFOLIO MOVES
Chola Global Advantage
In January 2006, Chola Global Advantage Fund had about 25 stocks in its portfolio and had increased its cash holding between October 2005 and January 2006; about 50 per cent of the net assets are invested in stocks with a market capitalisation of ...
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MUTUAL FUNDS
Balanced funds forced towards stocks
For balanced mutual funds, this is one Budget where the devil is truly in the detail. By tweaking the definition of equity-oriented funds to include only those funds that have invested at least 65 per cent of ...
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SBI Mutual Fund: A smooth transition
In October-November last year, SBI Mutual Fund was in the spotlight due to the churn in its equity fund management team. The fund house lost its Head of Research, Mr Sandip Sabharwal, to a private equity fund and hired Mr Sanjay ...
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FUND TALK
Defensive tilt
Considering the present stock market conditions, with high valuation levels, which among these will be the best diversified equity funds to own? I am looking at Magnum Contra, PruICICI Discovery, Tata Equity P/E and Birla Dividend Yield Fund. ...
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TAXATION
Tax sops ruled out for investment cos
They can't remain zero-tax paying entities: Chidambaram
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STOCK MARKETS
Profit growth: FM hopes for encore
Investors should stay invested in equities and avoid shifting from debt to equity now.
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Index outlook
The market sentiment was distinctly bullish during the week gone by. The sharp spurt on Wednesday and Thursday took everyone by surprise. The index dropped to the support zone at 3020-3030 and staged a recovery on Tuesday. The bullish trend ...
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An upside breakout imminent in Reliance
The stock price is yet to break out of the sideways consolidation phase. Typically, such a pattern is followed by a sharp move when the stock breaks out of the trading range. The recent price patterns indicate that a breakout on the upside and a ...
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Query corner
Sesa Goa (Rs 1,162): The outlook is positive and a move to Rs 1,275-1,300 appears likely in the short-term. Hold with a stop loss at Rs 1,130 for a portion of the holding and at Rs 1,050 for the balance. Take partial profits on the evidence ...
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SBI: Trend bullish
The long-term outlook remains bullish and the stock appears on course to move to the target zone at Rs 1,100-1,150. The short-term outlook is also positive and a move to Rs 920-930 appears likely. Shareholders may remain invested with a stop-loss ...
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Titan Industries: Long-term outlook positive
The price movement was in line with expectations. After an initial weakness, the trend turned bullish as the week progressed. The recent price patterns have confirmed the long-term positive outlook outlined last week. The stock appears on course ...
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Tata Steel: Long-term bullish
The short-term outlook, too, is bullish and a move to Rs 468-475 appears likely. Short-term traders may remain invested with a stop-loss at Rs 444. Fresh exposures may also be considered with the same stop-loss. Consider partial profit-booking ...
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Power plays
Should I hold or exit from Siemens bought at Rs 4,537 and BHEL at Rs 1,900? Rajesh, Shrihari Kulkarni Siemens (Rs 4,975): The company has been amongst the star performers at the stock market in the past few years. Despite the ...
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Satyam Computer: Near-term positive
The stock moved closer to the target zone of Rs 815-820 that has been mentioned in the recent weeks. After touching a high of Rs 811, the trend turned bearish since Thursday. The near-term outlook remains positive and a move to Rs 835-840 ...
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Infosys: Short-term outlook bearish
The short-term outlook remains bearish and a drop to Rs 2,700-2,710 appears likely. The stock could bounce back to Rs 3,150-3,200 if it holds above this support zone. A close below this support level would have negative consequences and could ...
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GlaxoSmithKline Pharma: Uptrend likely
After registering a peak at Rs 1,435 a few weeks ago, the stock has been in a corrective phase. The corrective phase took the shape of a "zig-zag" pattern in Elliott Wave parlance and a "bull flag" pattern in the traditional chart pattern ...
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Balrampur Chini: Upward move likely
After a sharp run-up in price in January, the stock has slipped into a sideways consolidation pattern in recent weeks in a corrective phase to the earlier rally. On completion, the stock is likely to see an upward move. A move past Rs 159 will ...
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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 ...
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DERIVATIVES MARKETS
F&O OUTLOOK
Nifty may show weakness
Rise in open interest, volume put/call ratio
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REGULATORY BODIES & RULINGS
Cos raise $3.5b in 2 months — Placement of shares/bonds overseas
Alarmed over the growing number of GDRs/ FCCBs, SEBI on January 18 came out with a proposal to create an `alternative regulated placement' of shares and bonds in India.
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RECOMMENDATION
Areva T&D : Buy
An investment may be considered in the Areva T&D stock at Rs.550. Our recommendation is underpinned by its solid performance over the past three quarters, a substantial expansion in profitability levels and the further scope for ..
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Solar Explosives: Invest
Investors with a long-term perspective and seeking to diversify their portfolio to rake in the opportunities in the coal mining sector can consider investing in the initial public offering by Solar Explosives. Growth opportunities in ...
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Era Constructions: Buy
Execution of contracts with better margins, entry into new segments and a rise in order-book position bring earnings visibility to the Era Constructions stock (Rs 278). The Budget, through its fund allocation, has further ...
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Balaji Telefilms: Buy
Balaji Telefilms is well-placed to remain one of the preferred picks in the entertainment sector. It is set to come out of a three-year period of stagnating revenues and sharply slipping margins. The company is likely to end FY-06 ...
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HSBC India Opportunities: Hold
Investors can retain their exposure in HSBC India Opportunities Fund. The fund has maintained a steady performance in the two years since launch. It has, however, sailed through a predominantly bull market and is yet to build a track ...
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Malu Paper: Avoid
Exposures may be avoided in the initial public offering of Malu Paper, as the scope for appreciation appears limited. We have not factored into our recommendation any gains on listing, which we believe may at best be modest. Malu ...
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Bajaj Electricals: Buy
The stock of Bajaj Electricals holds potential for upside from the current levels. Our recommendation is based on the substantial growth potential for the company's engineering and projects business that caters to the power and the ...
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Automotive Axles: Buy
Investors can consider taking exposure in the Automotive Axles stock. With favourable trends in automobile offtake and new capacity, the momentum in earnings growth is likely to be sustained. The expected pick-up in export earnings ...
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Rohit Ferro-Tech: Avoid
Investors can refrain from subscribing to the initial public offer by Rohit Ferro-Tech. At the offer price of Rs 30 per share, the price-to-earnings multiple works out to 6-7 times its expected FY 07 earnings, on an expanded equity ...
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Birla Dividend Yield Plan: Hold
Unitholders can retain their holdings in Birla Dividend Yield Plus as its focus on dividend-paying value stocks can help contain downside risk in a volatile market. As value funds follow a defensive investment strategy, their ...
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Gallantt Metal: Avoid
Investors can give this public offer from Gallantt Metal a miss, as the potential for capital appreciation appears low. The absence of a proven track record, the high level of debt financing, the low earnings visibility and the ...
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