MARKETS
MUTUAL FUNDS
Update
ABN AMRO Mutual Fund has revised the load structure for its Equity and Tax Advantage scheme, with effect from September 27. Under ABN AMRO Equity,(CDSC) an exit load of 1 per cent will now be charged for investment less than Rs 5 crore if ...
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Fund Talk
I would like to invest in mutual funds. In new fund offers, investors get many tax benefits, such as no tax on dividend, investment benefit under Section 80 C, capital gains tax, no wealth tax, etc. Are the same benefits are applicable even ...
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ING Vysya Midcap Fund — Splintered assets
ING Vysya Midcap Fund was launched in mid-2005, when mid-caps were still in favour and turned in good returns within the first few months. In the correction in mid-caps that followed, the fund met with redemption pressure. Against the Rs 182 ...
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TECHNICAL ANALYSIS
Reliance
This stock moved in line with our expectation, hitting our first target towards the middle of last week. Wave counts point towards more room on the upside. Our medium term target remains Rs 1,247. In the week ahead, RIL can move higher to ...
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SBI
SBI has been the driving force behind Sensex last week. It has overtaken its previous high of Rs 1,015 made in April 2006. Also notable is the fact that it has closed above Rs 1,000 for the week. The short-term trend will remain positive as ...
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Tata Steel
Tata Steel moved contrary to our expectation last week. It recovered from an intra week low of Rs 491.6 to move closer to the upper boundary of its current trading range between Rs 500 and Rs 540. A sharp move past Rs 540 would mean that this ...
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Infosys
Infosys got past our first target of Rs 1,866. It could try to achieve the next target of Rs 1,910 in the short term. The sideways move with an upward bias seen last week resembles a running correction, which is a bullish pattern. The move ...
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ACC
ACC recorded yet another positive weekly close last week. The weekly chart looks like a steep green slope from the beginning of August 2006. Our first target of Rs 1,002 was almost achieved when the stock hit a high of Rs 999.9 on Friday. The ...
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ONGC
But ONGC bounced off a low of Rs 1,153 last Tuesday and then spent rest of the week consolidating sideways. The momentum is weak on the chart. The price is hovering just below the 200-day simple moving average, which is positioned at Rs 1,190. ...
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STOCK MARKETS
Trader's Corner
There are many among my day trading friends who do not peruse graphs during the trading day. Just watching the price and volume movement is sufficient to tell them which stock is going to break-out and they trade accordingly. The pivot point ...
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Query Corner
Is it the right time to buy the shares of Gateway Distriparks and Bharat Earth Movers? What are their short term and long-term prospects? Amirthalingam Bharat Earth Movers (Rs. 936.2): BEML has long-term support at Rs 750. ...
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Stock market contest
For the contest held during the month ended September 2006, Prime Securities posted the maximum gain. But there were no entries that picked this stock. From the stocks that figured in the entries received, Unitech posted the highest gain of ...
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DERIVATIVES MARKETS
Bullish trend in Nifty likely
Satyam may seek lower levels
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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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FOREIGN INSTITUTIONAL INVESTORS
FIIs stay rooted
Stock market crash in May no deterrence
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RECOMMENDATION
Graphite India: Buy
Exposure can be considered in the stock of Graphite India. At Rs 289, the stock trades at eight times its 2006-07 expected per share earnings. Robust demand and pricing outlook for its primary product graphite electrodes, strong demand for other ...
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Global Vectra Helicorp: Avoid
While there is potential in the company's business, the offer price appears stiff.
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Development Credit Bank: Avoid
Steep valuations, unimpressive performance and lack of clarity on business initiatives compel us to take cautious view on the IPO of DCB.
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Reliance Growth Fund: Invest
Reliance Growth is well diversified, with holdings spread across 26 sectors, and is suitable for investors with a moderate risk appetite.
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Kotak Balance: Hold
Investors can retain their units in Kotak Balance. The fund's three-year return of close to 40 per cent has comfortably outpaced its benchmark, Crisil Balanced Fund Index and also fared better than a number of peers. Kotak Balance has emerged ...
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Accel Frontline: Avoid
Given the heightened competition levels in the software space, stiff pricing of this offer, and better investment opportunities among mid-cap stocks, investors may avoid this offer from a risk-return perspective.
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Hanung Toys and Textiles: Invest
Bright prospects in the toys business and an interesting product range in the home textiles segment, make the offer attractive
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TTK Healthcare: Reject
Investors can reject the open offer by the promoters of TTK Healthcare. The offer, at Rs 73, is at a marginal discount to the stock's current price of Rs 75, which we estimate is 17-18 times the stock's expected sustainable per-share earnings ...
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Avery India: Accept
The company operates in a low growth business and there is no clarity on the prospects for the company under the new management
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Gruh Finance: Invest
Buoyant market for housing loans together with stable outlook for margins make Gruh Finance an attractive play in housing finance.
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OUTLOOK
Index Outlook
The resolute march towards a new high continues in the Sensex. Though the Sensex closed the week with a gain of 1.7 per cent, the climb is getting more and more arduous. Some of the pivotals like SBI, RIL and Infosys are flirting with their ...
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Market View
The slowdown in the US housing market is being seen by many as a lead indicator of a possible slowdown for the US in 2007. Housing has been the prime driver of economic growth in the US in the last five years, and there is little ...
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