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Sunday, June 23, 2002

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BUYBACK


Precot Mills: Accept
PRECOT Mills has offered to buyback 10 lakh equity shares, representing16.67 per cent of the equity at Rs 33 per share through the tender offer. The offer opens on June 1, 2002 and closes on June 30. Brescon Corporate Advisors is the manager to ... More

OPEN OFFERS


Wartsila: Accept
WARTSILA Corporation, together with Wartsila Technology, has made an open offer to the shareholders of Wartsila India to acquire 15.24 per cent of the company's outstanding equity at Rs 120 per share. The two companies together hold 84.76 per ... More

Hindustan Zinc: Accept
STERLITE Opportunities and Ventures (SOVL) is making an open offer to acquire a 20 per cent equity stake in Hindustan Zinc at Rs 40.51 per share. This open offer follows the selection of SOVL as a strategic partner for the sale of the 26 per ... More

MUTUAL FUNDS


Pioneer ITI Prima Fund: Hold
FRESH investments need not be considered in Pioneer ITI Prima Fund. The fund, with its focus on mid-cap stocks, has turned in a stellar performance in the recent months. But the sustained outperformance of mid-cap stocks over large-cap stocks is ... More

Birla Equity Plan: Pare exposures
INITIAL investors in Birla Equity Plan will have completed the mandatory three-year lock-in period for their investments in the fund in March 2002. These investors can now consider paring exposures to the fund and switching to a diversified ... More

LIC MF Gilt Fund: Invest
LIC Mutual Fund's Government Securities Fund is a long-term fund that invests in government bonds. Those with a long-term investment horizon can consider taking small exposures in it. Portfolio: As of May 31, the fund had 47 per cent in ... More

Pioneer ITI FMCG: Pare exposures
THE absolute performance of the Pioneer ITI FMCG Fund in the three-year period since launch appears unimpressive, with fund generating total returns of around 9 per cent. But this is largely because the fund was launched in bull market conditions ... More

Short-term is back in favour
SHORT-term funds — such as treasury management, liquid, money market and gilt funds — were back in favour in May 2002. Driven by the changes in the dividend tax regime — from a dividend tax on the fund to taxability with the ... More

Constructive developments
THE introduction of the various indices by the Association of Mutual Funds of India augurs well for mutual fund investors. AMFI has introduced different indices that may become the benchmark for the many income, monthly income and balanced fund ... More

  • Costs: Funds' pressure on SEBI

    STOCK MARKETS


    Rediff.com to trade on Nasdaq small-cap market
    REDIFF.Com India Ltd on Saturday announced its decision to switch to trading on the Nasdaq SmallCap market from the Nasdaq National Market, starting from June 24. The Rediff.com stock will continue to be traded under the ticker symbol ... More

    DERIVATIVES MARKETS


    Signs of improvement
    OVERALL Trends: The cash markets treaded in negative territory during the course of the week. On a week-on-week basis, the BSE Sensex lost close to 2.1 per cent over the previous week. The trend at the National Stock Exchange was in line ... More

    COMMENTARY


    Weak trend in Infosys, Satyam
    ITC (Rs 623): After a weak trend in the early part of the week, the share price of the company staged a strong comeback on Friday. The overall trend in ITC, however, continues to remain negative. The price movement over the recent weeks ... More

    Ranbaxy closes on cheerful note
    Ranbaxy Laboratories: Ranbaxy Pharmaceuticals (a wholly-owned subsidiary) has in its alliance with US-based CorePharma, received FDA approval to manufacture and market a generic version of the drug Adderall, a medication addressing the ... More

    Short-term uptrend in Tata Power
    EXCEPT on Thursday, the stock market sentiment remained dull during the week. The weak trend in frontline technology stocks such as Infosys Technologies and Satyam Computer played a key role in affecting market sentiment. Old-economy heavy ... More

    FIIs in selling spree
    ALTHOUGH the tension on the Indo-Pak border eased, the depressed state of the US markets appears to have haunted the Indian stockmarkets this week. Fuelled by major selling pressure from the institutional investors - both FII and domestic, the ... More

  • Nasdaq: Weak trend prevails

    RECOMMENDATION


    Clariant: Good medium-term prospect
    EXISTING shareholders of Clariant can continue to hold the stock at the current levels of about Rs 124 and consider additional exposures at lower price levels. Despite being one of the most profitable companies in the specialty chemicals ... More

    Colgate Palmolive: Pare exposure
    COLGATE-PALMOLIVE India's performance for the fourth quarter of 2001-02 clearly reflects that a revival in the demand for FMCG products is still some way off, despite a good monsoon in 2001 and incipient signs of industrial recovery. The ... More

    Aptech-Hexaware: On course?
    Hexaware: Hold
    Aptech Training: Hold
    More

    Mahindra & Mahindra: Will Scorpio help switch gears?
    Recommendation: Hold
    Risk Averse: Sell on uptrend More

    Apollo Tyres: Book profit
    THE share price of tyre companies has been pushed to higher levels in the last three months. The recovery in the auto sector, coupled with the overall improvement in market sentiment has had a positive impact on the share price of Apollo ... More

    Berger Paints: Buy
    TRADING at around Rs 77, Berger Paints remains a good investment option for an investor with a medium-to-high risk profile. The stock trades at a price earnings multiple of around six times its latest earnings per share (EPS). Since the previous ... More

    Cement stocks: Not so ready-mix
    Recommendation:
    ACC: Hold/Buy on declines
    Gujarat Ambuja Cements: Hold
    Madras Cements: Hold
    India Cements: Hold and sell on rise
    Grasim: Hold
    L&T: Hold and sell on rise
    More

    IPOS


    The lure of large IPOs
    Careful assessment is necessary to ensure that what you gain by investing in the IPOs is not lost by staying, or not staying, invested in the secondary market. However, these are only short-term considerations. So, long-term investors — if they are not worried about the need to add value — can forget these complicated issues and remain invested. More

    RIGHTS ISSUES


    Ballarpur Industries — Risky in letter and spirit?
    Recommendation:
    Equity: Subscribe
    FCD: Avoid unless you have high-risk preference More
    Stock Quotes
    SE Diary
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