The Hindu Business Line : Sunday, August 28, 2005

Reliance Capital: Reject
SHAREHOLDERS of Reliance Capital can reject the offer made by AAA Enterprises and Mr Anil Ambani. Acceptance of the offer will result in a substantial decline in the value of their holdings of the stock. The offer price of Rs 231 is at a ... More

Adlabs Films: Reject
Shareholders of Adlabs Films can reject the open offer made the Anil Ambani group through Reliance Land and Reliance Capital, as the stock trades at a substantial premium. The open offer is at Rs 183, while the stock trades at Rs 343. The Anil ... More

Hindustan Oil: Reject
Shareholders in Hindustan Oil Exploration Company can reject the open offer from Burren Energy India Ltd. and Unocal Bharat Ltd. to purchase their holdings. The open offer is being made at Rs 92.41 per share when the current market price of ... More

MUTUAL FUNDS

Sundaram Growth: Hold
INVESTORS can retain their holdings in Sundaram Growth Fund. The fund has outperformed the benchmark indices over the past year, although not by a substantial margin. Given the fund's orientation towards large-cap stocks, however, the performance ... More

SPOTLIGHT
HSBC Equity Fund: Hold
THERE has been a slowdown in the performance of HSBC Equity Fund over the past couple of quarters. On a one-year basis, the performance is now just in line with that of its peers, as it has delivered a 53 per cent return. This is in contrast to ... More

`It is important that debt funds be redefined as funds' — Mr Sandesh Kirkire, Kotak Asset Management
SANDESH Kirkire has completed 12 years with the Kotak group, completing stints in corporate finance, investment banking and debt fund management, before taking over recently as the CEO of Kotak Asset Management. In an interview with ... More

ICRA Online Rankings — SBI Mutual steals the show
THE first quarter of FY2005-06 will go down in history as a record-breaking quarter, given that the market kept surpassing previous highs almost every other day, while the Sensex, for the first time in history, crossed the 7000 mark. FIIs have ... More

PORTFOLIO MOVES
Franklin India Flexi Cap Fund
DURING June and July 2005, the market witnessed a relentless bull run aided by buoyant FIIs inflows. This called for a lot of discernment from fund houses in re-jigging their portfolios. Business Line takes a look at the churn made in ... More

FUND TALK
Rejigging your portfolio with care
Before you begin a rejig of your portfolio estimate your savings potential based on your income and financial goals at the end of 10 or 15 years. More

DSP Merrill MF's new scheme comes with insurance cover

DSP Merrill Lynch has unveiled a new systematic investment plan for its funds that will also provide an insurance cover to investors. The plan offers access to five equity and balanced funds, with the option to choose between various ... More

TECHNICAL ANALYSIS

Further weakness likely in Nifty
Preferred view: The much-awaited correction materialised during the week. The index moved in line with expectations and bounced off the support level at the 2300-2305 range mentioned last week. The price action was devoid of any ... More

Positive near-term outlook for Reliance
SBI (Rs 780.4): The price action was in line with expectations. The stock dropped to the target price of Rs 766 and sought support at that level. The stock faces resistance at the Rs 795-805 range and support at the Rs 750-760 band. Though ... More

Focus of the week
Deepak Fertiliser (Rs 81.8): The stock is in a long-term uptrend. It appears to have completed the short-term corrective phase last week. The occurrence of a bullish reversal bar on Wednesday followed by a recovery in price in the ... More

Query corner
Shall I hold or sell Jaiprakash Associates bought at Rs 275? — R. Santhanam Jaiprakash Associates (Rs 286.7): The outlook is positive and the share price appears to be on course to move to the target zone of the Rs ... More

STOCK MARKETS

Market P/E: The real story
IF YOU think this article is about the true level of the prevailing price-to-earnings multiple for the market, you are wrong. There never can be one number that precisely tells you the state of the market. The market P/E is an average. This ... More

DERIVATIVES MARKETS

F&O POINTERS
Range-bound movement in Nifty
Nifty outlook: The market, which defied gravity for quite some time, at last started to search its feet. Last week, we had anticipated a volatile trend with an upward bias. In line with our expectation, the Nifty opened on positive note, ... More

Moderate rollovers
LAST week saw the settlement of August contracts and the introduction of November contracts. Trading activity was robust with average daily turnover of Rs 2,0515 crore against the previous week figure of Rs 15,148 crore. Rollover of open ... More

REGULATORY BODIES & RULINGS

New norms on public holding: MNC firms may be most hit
NEW norms requiring minimum public holding of 25 per cent may affect firms that tried to delist but only succeeded in enhancing their stake beyond 75 per cent. The requirement of reverse book building, which increases the price at which the ... More

RECOMMENDATION

Esab India: Buy
ESAB India appears an attractive investment option, as robust demand and enhanced profitability levels are likely to buoy earnings growth. Buy this small-cap stock with a one-to-two year perspective. Esab India manufactures welding and cutting ... More

Siemens: Buy
INVESTORS with a medium-to-long-term horizon can consider exposure to the Siemens India stock on price declines. Shareholders can continue to retain their holdings. Business Line had given a buy recommendation at Rs 1,085; the stock has ... More

Essel Propack: Book Profits
INVESTORS can book profits partially in the Essel Propack stock, which quotes at 13 times the consolidated earnings for the year-ended December 2004. The company's consolidated revenues and earnings have grown at 10 per cent and 23 per cent ... More

3i Infotech: Hold
SHAREHOLDERS who had invested in the recent public offering by 3i Infotech at Rs 100 can retain their exposure. Since the stock has appreciated sharply over the past fortnight, investors can step up or take fresh exposure on weakness linked to ... More

SKF India: Buy
REFLECTIVE of the buoyancy in the business environment, SKF India has reported improved performance for the quarter-ended June 2005. Helped by robust demand from the automotive and industrial market segments, the company reported a 28 per cent ... More

IPOS

New IPO norms — Making allotment fairer
SEBI's new norms for allotment to institutional investors are a welcome step towards a more equitable system that puts retail investors on a better footing. More

Amar Remedies: Invest at cut-off
AN INVESTMENT can be considered in the initial public offer of the Mumbai-based Amar Remedies. Investors can subscribe to the offer at the cut-off price. The offer is being made through the book-building route in the Rs 24-28 price band. Given ... More

RIGHTS ISSUE

Nicholas Piramal: Invest
AN INVESTMENT can be considered in the rights offer of Nicholas Piramal . The offer is being made at Rs 175 per share, which is at a discount of about 35 per cent to the stock's prevailing market price. Shareholders will be entitled to one share ... More

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