Financial Daily from THE HINDU group of publications
Sunday, April 16, 2006
Markets (April 13)
BSE Sensex11237.23(-118.50)
S&P CNX Nifty3345.50 (-34.50)
US Dollar (Buy/Sell)45.15 (+0.30)


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Gujarat Ambuja Cements: Reject
There are significant advantages in remaining invested in Gujarat Ambuja Cements. Primary is the likely consolidation of Holcim's India operations under one umbrella. More

FINANCIAL SERVICES


JRG public issue opens on Monday
JRG Securities Ltd is to come out with a public issue of 36,25,000 equity shares with a face value of Rs 10 commanding a premium of Rs 30 on Monday. The shares, which will command a price of Rs 40 per share, would aggregate to Rs ... More

MUTUAL FUNDS


PORTFOLIO MOVES
Canequity Diversified
Canequity Diversified increased its holding in cash and cash equivalents over the three month ended February. Current assets constituted 7 per cent of the total assets in February against 1 per cent in November 2005. The fund has also altered its ... More

FUND TALK
I have invested in the mutual funds mentioned in the list. I want to reduce my exposure from 32 funds to 10. Please suggest Top 10 Funds for further investments (after selling my current holding). Also suggest from the list 1. What are all the ... More

TECHNICAL ANALYSIS


Index Outlook
The market action was in line with expectations. The overall trend remained bearish and the index dropped tested the downside target cum support zone of 3340-3350 that was mentioned last week. After sliding to a low of 3290, the Nifty closed on a ... More

Technical Analysis Q&A
I hold shares of South Indian Bank bought at Rs 66 a huge chunk of IFCI at Rs 42. Shall I hold or exit from these stocks? D. Balasubramanian, Swami Questions such as these are a pointer that there are investors who have not yet ... More

Weak trend in SBI
The stock ruled weak and also dropped below the target zone of Rs 930-940 that was mentioned last week. The recent price patterns indicate that the downtrend is not over as yet. The stock could drop to Rs 875-880 shortly. A test of the crucial ... More

Reliance
The damage to the market sentiment would have been worse, but for the relatively firm trend in the stock. We continue to, however, favour a short-term bearish outlook. A drop to Rs 805-810 remains our preferred view. Only a close above Rs 870 ... More

Tata Steel
Contrary to expectations, the stock ruled firm and managed to weather the bearish phase witnessed last week. Except for a fall on Wednesday, the trend remained positive in the remaining two days of the week. As observed last week, a move ... More

Satyam Computers
A bearish trend prevailed as anticipated last week. The stock also dropped to the target zone of Rs 785-790. After touching a low of Rs 755, the share price ended the week at Rs 772. The near-term trend remains bearish and a drop to Rs 755-760 ... More

Infosys
The price action was in sync with the bearish outlook featured last week. The stock ruled weak and also dropped to the target zone at Rs 3,000-3,025. After sliding to a low of Rs 2,988, the stock closed at Rs 3,021. The stock is ruling close ... More

The Big Boys
TCS (Rs 1,798): The stock could drop to Rs 1,650-1,660. The bearish outlook would be negated on a close above Rs 1,850. Shareholders may reduce exposures and have a stop loss of Rs 1,760 for a portion of the holding. Evidence of support ... More

Chart focus
The stock is in a long-term upward trend since April 2003. In Elliott Wave parlance, the stock completed Wave 1 at Rs 164.3 in September 2005. The subsequent correction to the low of Rs .81 can be classified as Wave 2 of the sequence. The ... More

Follow up
The price movement was not in line with expectations. The overall bearish market sentiment along with the spike in crude oil prices appears to have played a major role in imparting a weak trend in the stock. This has, however, not invalidated the ... More

STOCK MARKETS


Gainers and Losers on the NSE
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DERIVATIVES MARKETS


F&O OUTLOOK
Choppy trend likely
More

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

RECOMMENDATION


Titan Industries: Invest
Steep discount to market price for the equity component, attractive interest rate for the non-convertible security and promising business outlook make it a rights offer to watch. More

HDFC Multiple Yield Fund: Invest
With its distinct positioning and an actively managed debt and equity portfolio, this fund will be a good addition to a portfolio of fixed-income investments. More

ITC: Hold
A healthy investment book, sustained cash flow from operations in the cigarettes business and robust revenue growth in its non-cigarettes business augur well for its long-term growth prospects. More

Ansal Housing and Construction: Buy
Rich land bank and the large number of projects on hand add visibility to earnings growth over the next couple of years. IT and BPO companies have underpinned the demand for commercial property. More

Magnum Midcap: Hold
Despite lagging quite a few diversified funds, its report-card inspires confidence given the under-performance of mid-cap indices in the latter part of 2005. More

SBI Magnum Contra: Invest
Magnum Contra has continued its impressive performance despite significant changes in the management team. It remains one of our preferred picks. More

JRG Securities: Avoid
The public offer of JRG Securities may be avoided, as we believe there are, and will be, superior exposures to the securities broking industry in the listed space. Given the small base, JRG may exhibit good growth rates due to the boom in the ... More

Lanxess ABS: Buy
Lanxess ABS is well-positioned to exploit the expected demand growth for ABS plastic. More

INVESTMENT FOCUS
Tata Investment Corporation: Buy
This listed-investment arm of the Tata group is an attractive portfolio candidate. The stock trades at a substantial discount to the value of the investment book. This provides a high degree of cushion for investors, and even if the stock ... More

IPOS


Plethico Pharmaceuticals: Invest at cut-off
Track record of healthy profitability and an established presence in export markets with a product profile that is unlikely to be hurt by legal challenges make this offer attractive. Invest with a one/two-year perspective. More
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