The Hindu Business Line : Sunday, November 16, 2003

Indirect acquisitions — Scope for better compliance?
TRUST ME, it all hinged on a "date". A change in the reference date for working out the price in an open offer may come as a windfall for the shareholders of South-East Asia Marine Engineering Construction (Seamec) ... More

MUTUAL FUNDS

UTI Pharma: Buy (High-risk)
INVESTMENTS in UTI Pharma fund can be considered now. The healthcare industry is entering a new phase in the next couple of years. The opportunities that such changes hold could lead to significant appreciation in ... More

HDFC High Interest Fund: Invest
UNIT-holders in HDFC High Interest Fund (formerly Zurich High Interest Fund) earned a three-year annualised return of 13.5 per cent. The fund is suitable for risk-seeking investors who prefer to hold just one bond fund ... More

MFs: Not mere spectators
Domestic investors have been making use of the sharp rise in the equity values in the recent times to book profits on their earlier investments. This is a welcome trend and could help diminish the negative impression that investors have about investi ng in equity. More

SEBI clears Sahara proposal to acquire First India Mutual Fund
THE Securities and Exchange Board of India has cleared Sahara India's proposal to acquire First India Mutual Fund, the first instance of a completely new sponsor to take over an existing asset management outfit. While specifics like the price ... More

Marginal inflow into equity funds

Equity funds have had a marginal outflow of Rs 17 crore in October 2003, with sales at Rs 2,218 crore and redemption at Rs 2,235 crore. The quantum of inflows into income funds is also on a lower scale in October than in the preceding ... More

TECHNICAL ANALYSIS

Positive outlook for Reliance
ITC (Rs 860): There was no significant change in the price action in the stock. Similar to the previous week, the stock remained confined to a narrow range. After a sharp drop on Tuesday, the stock remained range bound and staged a modest ... More

Short-term bullishness in indices likely
Preferred view: The index ruled weak in line with last week's expectations. Imposition of margin call and selling by local funds triggered a sharp decline last week. The recent downtrend appears complete and the near-term trend has now ... More

Focus of the week
Bombay Dyeing (Rs 154.5): The stock is in the early stages of a major uptrend. It could move towards the Rs 200-210 range in the near term. Only a close below Rs 127 would negate the positive outlook and could impart prolonged weakness. ... More

Query Corner
NIIT (Rs 190.7): After a sharp uptrend, the stock has turned weak in the past few days. There appears to be little downside risk from current levels. Only a drop below Rs 170 would be a cause of concern. Remain invested with a stop loss at ... More

STOCK MARKETS

Stocks recover in special session
AFTER a two-day fall, stock markets recovered in Saturday's special trading session. The buying was across-the- board in the absence of most of the institutional investors. The National Stock Exchange and the Bombay Stock Exchange held a ... More

DERIVATIVES MARKETS

Drop in volatility levels may boost sentiments
The put-call open interest ratio for index options at 0.6 is not indicating any clear movements for the week ahead. However, since the ratio is below 0.3 levels for almost all other underlying's, it could reduce in the week ahead on positive sentimen ts. More

FOREIGN INSTITUTIONAL INVESTORS

Profit-booking tones down FII effect
OVER the past 25 trading sessions, stock prices have not moved up across-the-board in the relentless manner as they did between June and mid-October. Gains have not been of a similar magnitude either. Profit-booking ... More

COMMENTARY

On the move
Gammon India (Rs 294) - The stock surged 34.3 per cent - the biggest gainer among the construction stocks during the week. India Cements (Rs 42) - The stock rose 35 per cent. The rise is notable as several cement stocks ... More

RECOMMENDATION

Indo Gulf Fertilisers: Buy (High Risk)
INDO Gulf Fertilisers is turning out to be a textbook case on how a de-merger, when it has the right ingredients, can unlock value for shareholders. Since its listing as a stand-alone fertiliser company, both its ... More

Aventis Pharma: Hold/Buy on declines
INVESTORS can retain their holdings in Aventis Pharma. The stock has run up by over 50 per cent since Business Line made a buy recommendation when the scrip was trading at Rs 335 (Business Line, May 25). ... More

Allahabad Bank: Buy
FRESH investments can be considered in Allahabad Bank. A substantial proportion of its loans had turned bad, affecting the bank's performance, but the situation has changed for the better. The NPAs (non-performing ... More

SKF Bearings: Buy
THE steady increase in automobile production has had a positive effect on quite a few companies. Bearings industry major SKF Bearings is one such beneficiary of the vehicle boom. Taking into account its growth ... More

Value in the reams
West Coast Paper: Hold/buy on declines
Seshasayee Paper: Hold/buy on declines
Tamil Nadu Newsprint: Hold/buy on declines
Ballarpur Industries: Book profits and reenter at lower levels
J K Paper and The A.P. Paper: Hold More

Motherson Sumi Systems: Buy
MOTHERSON Sumi Systems joins the long list of auto-ancillary companies that have reported a sharp growth in earnings for the quarter ended September 2003. For the latest quarter, the company posted a 26 per cent growth ... More

Matrix Labs: Hold
INVESTORS can retain their holdings in the Matrix Labs stock. The scrip had a spectacular run on the bourses this calendar year, registering an almost six-fold jump compared to its price of Rs 200 in January. Given ... More

Chola Inv: Dividend yield pick BUY
The company has been benefiting from the boom in retail lending. This is reflected in the growth in earnings reported by the company in the last several quarters. Companies such as Cholamandalam Finance are also not completely devoid of ... More

Gujarat Ambuja: Concrete footing BUY
The company appears well set to close out FY'04 with impressive earnings growth as the benefits of improvement in cement prices are likely to be captured over a larger volume. The company has aggressively pushed for volume growth, which is likely ... More

IPOS

Four Soft plans public issue at a premium of Rs 20
FOUR Soft Ltd, a Hyderabad-based software company engaged in the business of writing enterprise solutions for supply chain management, is coming out with an initial public issue of 79.5 lakh shares of Rs 5 each at a premium of Rs 20 per share, ... More

Stock Quotes
SE Diary

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