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Upward journey continues - Jan 18, 2007 @ 1:15 PM

NIFTY is currently at 4135.55. Among banking stocks, Bank of India (+3%), Canara Bank and SBI (both +2%), OBC and Syndicate Bank (both +1%) are the hot favorites

Tata Motors and Hindalco are the two stocks in partial red currently. Biocon which announced a healthy quarter,  Ranbaxy and Cipla are the favorites amongst the Pharma stocks.

Add commentJanuary 17th, 2007

Markets open positive - January 18, 2007

Welcome to a day that promises lots of action. The results of big names of the Indian industry including Reliance, UltraTech, Biocon, Ranbaxy, TechMahindra are all set to decide the course of action for the markets for the days to come.

The Indian Markets opened up in green anticipating some good positive numbers to come out from the majors.

NIFTY 4093.50
NIFTY JUNIOR 7402.45
CNX IT 5653.30
BANK NIFTY 6227.35
CNX 100 3968.55

ICICI Bank (+2.71), LNT (Up 2%), RCOM (+2.75), SBI (+1.1%) are in the early gainers list while ONGC (-2.75%), HDFC, HDFC Bank are trading in the red currently.

Earlier, the US markets ended a bit low while the Asian markets are currently in green.

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Big day today - Jan 18, 2007

Today would be a big day for the stock markets. There are many top large-cap and mid-cap companies who are about to release their Q results. The list includes key corporate of India - Reliance, IT major Tech Mahindra, Cement biggies Shree Cements, UltraTech Cement, Pharma and Biotech companies such as Ranbaxy Labs, Panacea Biotech, Plethico Pharma and other bigges such as Biocon, Reliance Energy, Canara Bank and Siemens

Other companies that would be making Quarterly announcements include

Bhagyanagar Ind
Bharat Bijlee
Bihar Caustic
BOC India
Chambal Fert
Emco
Exide Industries
Genus Overseas
Godavari Fert
Guj State Petro
Indo Rama Text
Ins Elec(P)
Ispat Profil
JK LakshmiCemen
Kirloskar Bros
KPIT Cummins
Liberty Shoes
Nicholas Pirama
OCL India
PSL
Reliance Natura
SandS Power Swi
Seshasayee Pape
Shasun Chemical
Softpro Sys
Sona Koyo Stee
Surana Telecom
Unichem Labs
VST
Zuari Inds

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Birla Sun Life Arbitrage Fund

Arbitrage Fund trend are new thing and fast catching up in the Indian Mutual Fund industry and the latest entrant to this list is the Birla Sun Life Arbitrage Fund from the leading name in the Indian Mutual Fund industry - the Birla Sun Life Mutual Fund. Readers may recall JM, SBI, Standard Charterd and Pru ICICI are the funds in this segment so far.

The Birla Sun Life Arbitrage Fund is an Open ended Equity Scheme investing in a mix of equity, equity derivatives, debt and money market instruments. The investment objective of the Scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be realised.

The minimum application amount is Rs. 5000 and in multiples of Rs. 1. The minimum amount for additional purchases is Rs. 1000 and in multiples of Rs. 1. The benchmark index is CRISIL Liquid Fund Index.

A view of how the existing Arbitrage Funds are doing:

JM Arbitrage Advantage Fund - Growth - 17-Jan-07 - 10.3594
SBI ARBITRAGE Opportunities Fund - Growth - 17-Jan-07 - 10.1981
Standard Chartered Arbitrage Fund - Plan A (Regular) - Growth - 17-Jan-07 - 10.0921
Prudential ICICI Equity & Derivatives Fund-Wealth Optimiser Plan-Retail Growth Option - 17-Jan-2007 - 10.23

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New Mutual Funds queues up to SEBI

The following is a list of draft offer documents of some mutual funds put before SEBI and posted on the SEBI website for public viewing and comments

BOB Opportunities Fund
Birla Sun Life Secure Capital Plus - 5 year plan
Reliance Fixed Horizon Fund III

A partial view on some of these funds:

BOB Opportunities Fund

BOB Opportunities Fund is an Open Ended Equity Scheme. The objective of the fund is as follows: “The schemes is targeted for long-term capital appreciation through a well-researched portfolio comprising of equity, equity related instruments and money market instruments.”

The fund would invest in equity, equity related instruments and money market instruments. Mr. Deepak Acharya will be the fund manager and the fund takes BSE Sensex as the benchmark index.

Birla Sun Life Secure Capital Plus - 5 year plan

Keeping in tune with its other peers, Birla Sun Life too is coming up with a capital protection plan. Birla Sun Life Secure Capital Plus is a close ended fund with only Growth option. The investment objective is to ‘earn returns through dynamic asset al location between equity instruments & fixed income securi ties with a view oriented towards protection of ini tial capital invested at the end of the 5 year period.’

The minimum application amount is Rs.5000/ - and in multiples of Re. 1 thereafter per application during the NFO period.

Reliance Fixed Horizon Fund III

The primary investment objective of the scheme is to seek to generate regular returns and growth of
capital by investing in a diversified portfolio of: -
Central and State Government securities and Other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility.

Add commentJanuary 17th, 2007