Business Daily from THE HINDU group of publications
Sunday, September 17, 2006
ePaper
Markets (September 15)
BSE Sensex12009.59(+36.57)
S&P CNX Nifty3478.60(+7)
US Dollar (Buy/Sell)46.14(-0.07)


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MARKETS

MUTUAL FUNDS
Kotak Contra: Hold
Mid-cap stocks, which have potential to deliver higher returns, carry higher risk too. Hence, this fund is suitable for investors with moderate risk profile. More

`Outflows from MFs not very significant'
Mutual funds added more than seven lakh investors into equity schemes in August. Despite this, redemptions out-weighed investments in equity funds. Messrs Milind Barve of HDFC MF and A. Balasubramanium of Birla Sunlife explain ... More

Sundaram BNP Paribas Select Midcap
Top sectors pruned, software enhanced

Sundaram BNP Paribas Select Midcap has been one of the star performers in the mid-cap space for past year. Being one of the few funds to hold cash close to 35 per cent just before the May correction has helped the fund retain most of its gains ... More

Update
Franklin Templeton Investments has declared a dividend of Rs 3 per unit, or 30 per cent, under Franklin India Opportunities. The record date for the dividend payout is September 13. PruICICI Mutual has revised exit loads for ... More

STOCKS
Sensex at 12,000: Rally thin
1,664 stocks trading below April 20 level More

TECHNICAL ANALYSIS
Index Outlook
The monotonous pace in the Sensex was enlivened by a sharp tumble last Monday that saw players scrambling to unwind long positions, as the spectre of May 2006 revived in the memories. There was, however, a brilliant fight back in the middle of ... More

STOCK MARKETS
The story from 12K to 12K...
... and what is driving the rally this time More

Index Outlook
The monotonous pace in the Sensex was enlivened by a sharp tumble last Monday that saw players scrambling to unwind long positions, as the spectre of May 2006 revived in the memories. There was, however, a brilliant fight back in the middle of ... More

Reliance
It has to go down as a flat close for the stock, though it went on a roller-coaster ride, dragging the entire market down in the early part of last week. The price completed a 34 per cent retracement of the move from the low of Rs 940 last ... More

SBI
Stocks hardly follow the script that is written for them. But, SBI did precisely that last week. It reversed from our weekly support of Rs 910 and went on to our upper target of Rs 980. There is a return of momentum in the daily chart. The ... More

Tata Steel
The stock is not breaking out on either side of the trading range that it is confined to since the beginning of August. The lower boundary of this range lies at Rs 500 and the upper boundary is at Rs 540. A close below Rs 500 will make the ... More

Infosys
After hitting a low of Rs 1,723 last Monday, the stock clawed its way back to close above Rs 1,800. There has been a slight pick-up in volumes though the momentum indicators on the daily chart continue to signal a sell. Resistance will be ... More

ACC
The stock took a dip on Monday to hit a low of Rs 886 and spent the rest of the week clambering upwards to close with a gain of 0.9 per cent for the week. Volume picked up slightly last week and the momentum on the weekly charts continues to ... More

ONGC
The price took support at the lower boundary of the sideways channel that we had marked for it last week at Rs 1,140. The medium-term outlook continues to be positive as long as the price stays above Rs 1,130. Bounce from this area will be a good ... More

Query corner
What should I do with Petronet LNG purchased at Rs 61? Should I purchase some more or just hold? S. V. Shanbhaug, Sasi Kumar, R. Kalyanasundaram Petronet LNG (Rs 49): The stock has halted exactly at the long-term support of ... More

Trader's Corner
There are over 8000 stocks listed in various Indian stock exchanges. This should actually translate into a mind-whirring array of choice for a day trader in India. It is next to impossible to scan through all the 8000+ charts every morning to ... More

DERIVATIVES MARKETS
Nifty may remain in a tight range
Negative trend in Reliance Communication 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
Varun Shipping: Buy
Investors can consider taking exposures in the stock of Varun Shipping, which trades at five times its trailing 12-month earnings. With freight rates firming up and buoyancy in global trade, Varun Shipping is likely to sustain growth in ... More

Templeton India Pension Plan: Invest
This plan is suitable for investors looking at retirement after 58 years and willing to stay with the fund for the long term. More

Kalpataru Power Transmission: Buy
Price variable contracts in the domestic market have helped the company hedge against volatile prices of raw materials such as steel, aluminium and zinc, resulting in better price realisation. More

Navin Fluroine: Buy
Navin Fluroine's Clean Development Mechanism project, scheduled for completion by middle of FY-08, will entitle it to about two million Certified Emission Reductions on a yearly basis till 2012. More

Berger Paints: Hold
Though near-term pointers suggest that the stock could rule firm, most of it appears to be captured in the valuation. More

IDBI-United Western Bank merger
Advantage, branch and rural roots

IDBI: BUY
UWB: ACCEPT More

Mastek: Buy
Mastek's strong order book position, its progress into the US market and a steady improvement in financials are encouraging. Slowdown in US and high client concentration remain the key risks. More

WPIL: Accept
Shareholders of WPIL can exit the company by tendering to the open offer. Since the market price of Rs 35 is higher than the open offer price of Rs 32.45, exiting through the secondary offer route may be considered. The stock has been going up on ... More

IPOS
By the letter and spirit of prospectus
Of late there have been repeated, and often exaggerated, reports about a company and its outlook in the media, both electronic and print, in the run-up to the initial public offering of shares. Seasoned institutional investors may shrug off the ... More

OUTLOOK
Market View
The real question (on overseas investments and capital account convertibility) asked in one-way or the other is "why should I invest overseas when there are ample opportunities at home?" India has offered and continues to offer one ... More






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Top Stories
`India's rise is in everyone's interest'

Promoters working on designs for Delhi, Mumbai airports revamp

No UWB impact on IDBI rating

ONGC's first parcel from Sakhalin to arrive in Nov

Looking back
Sep. 10-Sep. 16
OMC stocks turn active as crude price dips to 5-month low

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`MFs: Outflow insignificant vs size'

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