The Hindu Business Line : Sunday, August 21, 2005

`Individual investors are dumb money'
BRACE UP, this line may hit you like a tonne of bricks: "Individual investors have a striking ability to do the wrong thing." And, before you recover from the shock, here's more: "Individual investors are dumb money... Individuals hurt ... More

MUTUAL FUNDS

A Rs 6,000-cr gap: SEBI data puzzles mutual fund managers
THERE seems to be a Rs 6,000-crore gap between what mutual funds have mobilised through their equity schemes and what they have invested in stock markets during the financial year 2004 -05. Data compiled from the monthly publication of the ... More

A fund of disclosure, yet inadequate
DISCLOSURE standards adopted by mutual funds in India are probably the best in the world. Importantly, SEBI and the Association of Mutual Funds of India have come together to orchestrate the changes in the reporting standards that have helped ... More

Fidelity Equity Fund tops managers' list
INDIAN investors appear to have taken seriously Fidelity's slogan of `Invest with the world No. 1'. In just over three months since its launch, Fidelity Equity Fund has emerged as the top equity fund in terms of assets under management. As of ... More

Birla MF plans new scheme for long-term growth
BIRLA Mutual Fund has worked out a scheme aimed at investing in stocks comprising the S&P CNX Nifty and outperforming the benchmark by using derivatives. The proposed Birla Enhanced Index Fund will try to generate long-term growth by allocating . More

HDFC Growth: Sell
INVESTORS in HDFC Growth Fund may reduce exposures following its unimpressive performance this year. They could switch to a combination of HDFC Equity and SBI Magnum Contra, which could provide superior returns. Despite a spurt in equity ... More

UTI Master Value: Hold
INVESTORS in UTI Master Value can stay with the fund. This is a reversal of last year's recommendation to book profits. The recommendation was given in light of relatively poor performance in 2003 and early 2004. Since then, the fund has ... More

FUND TALK
Risky to invest borrowed funds
You cannot rely on an equity fund investment to consistently generate enough income to service your interest obligations. More

Birla Sun Life to launch Birla Top 100 Fund

Birla Sun Life Mutual Fund is to launch Birla Top 100 Fund. The fund will invest 65 per cent of its assets in stocks of the top 100 companies in terms of market capitalisation. The fund offers dividend and growth options. The minimum ... More

STOCKS

Why companies should tell more
WITH stock prices on a relentless upward march there is concern in some quarters about the prevailing valuations. Given the very nature of equity instruments, it is difficult to be forthright in one's views; thus ... More

TECHNICAL ANALYSIS

Near-term trend appears muted
Preferred view: The market activity was devoid of any significant trend for the second week in succession. Though the index managed to register a gain of about 22 points, the market action did not portray a positive picture. The ... More

Focus of the week
Blue Star (Rs 381.2): The long-term outlook is bullish. The stock staged a breakout from a trading range last week. The rise in price coupled with the pick-up in volume indicates the start of the next leg of the rally. The stock ... More

Weak near-term outlook for SBI
SBI (Rs 805.2): The price action during the week was characterised by a zigzag movement. The stock failed to make any significant move on either direction. The near-term outlook remains bearish. Last week's view of a test of the swing low ... More

Query corner
What is the outlook for Manali Petro and Lloyd Steel? — S.P.Kumar, Amrit Patel, R. Natarajan Manali Petro (Rs 26.5): There is scope for a move to the Rs 32-34 range. The near-term trend is positive and investors may hold ... More

STOCK MARKETS

Dealing in the stock market
You can contact a broker or a sub-broker registered with the Securities and Exchange Board of India for carrying out your transactions pertaining to the capital market. Who is a broker? A broker is a member of a recognised stock ... More

DERIVATIVES MARKETS

Trading modest
TRADING activity was just modest last week amid volatile condition at the derivative segment on the NSE; the average daily turnover was Rs 15,148 crore against the previous week figure of Rs 17,227 crore. Robust rollover of positions both in ... More

F&O POINTERS
Bullish undertone
Nifty outlook: As has been anticipated, the Nifty was volatile last week touching an all-time high of the 2400-mark before settling at around 2383 points. Keeping in mind the volatility in the market, we have been advising investors ... More

REGULATORY BODIES & RULINGS

Bigger companies face bigger fines — SEBI sounds warning on Clause 49
He said that many had asked SEBI if it would dare to delist some of the larger companies, if they defaulted. The regulator would meet that challenge. The Indian market would "see some shocks," he said. More

RECOMMENDATION

MRF: Buy
Though the recent trend of subdued growth in earnings may continue for a while, the long-term prospects are encouraging. Any pick-up in business volume and a marginal increase in profitability would have a magnifying impact on the ... More

Bihar Caustic: Buy
INVESTORS can consider taking exposure in the Bihar Caustic stock which quotes at a trailing 12-month price-earnings multiple of four. An attractive 33 per cent return on net worth for FY-05 and a high operating ... More

Century Textiles: Buy
SHAREHOLDERS of Century Textiles can remain invested and also accumulate the stock, as there could be scope for appreciation linked to fundamentals and clarity on ownership and management control. But the effect of the ... More

Godrej Consumer Products: Buy on declines
RESURGENT demand and softening input prices have helped Godrej Consumer Products report strong sales and profit numbers for the June 2005-06 quarter. Reviving growth in categories such as hair colour and market share gains for the company in ... More

NTPC: Buy
INVESTORS looking for steady capital appreciation with minimal risk over the medium-to-long-term can consider putting their money in the National Thermal Power Corporation (NTPC) stock at the current market price of Rs 97. The stock has been a ... More

Aarvee Denims: Buy
AN INVESTMENT can be considered in the Aarvee Denims stock from a medium-term perspective. At the current market price, the stock trades at about nine times its expected FY-06 earnings per share, on an expanded equity base. The largest ... More

JBF Industries: Reject
The offer price of Rs 46.50 is well below the current market price of about Rs 75. JBF Industries recently made a preferential allotment to private equity funds managed by Citigroup. Post-allotment, the acquirer's stake in the company is 25 per ... More

Wimco: Accept
SHAREHOLDERS can accept the open offer being made by Swedish Match, to acquire 20 per cent of the public shareholding of Wimco Ltd. Swedish Match also reserves the right to acquire an additional 6 per cent stake through the open offer, mopping up ... More

IPOS

Southern Online public issue
HYDERABAD: Southern Online Bio Technologies Ltd has filed its offer document with Registrar of Companies on Friday. In a press release here on Saturday, Mr N. Satish Kumar, Managing Director of the company, said the issue was expected ... More

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