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Is the market running ahead of the fundamentals? After the May correction, it lost some momentum, but then the June results came and the market found traction again. Prices are completely aligned with the earnings growth right now. Which are the sectors that you think will do...

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Indian art today is entering into newer territories both in terms of international reach and auction prices, with many top artists commanding prices of $ 1 million and above. As India firmly establishes itself on the world art map, there is no better time to re-evaluate Amrita Sher-Gil,...

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SBI’s new fund will trade in and out of the market to protect your capital! Hope that sounds as odd to SEBI as it does to us Lemming-like, fund houses are filing prospectuses of capital protection schemes (CPS). Tata, SBI, UTI, HSBC, HDFC, Reliance, Kotak and Birla Sunlife have all filed...

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ML: What is your view on the debt markets and what are your future expectations? AN: The future of the debt market is determined by one single factor, which is the yield curve. If one takes a short-term perspective, the curve is certainly under some pressure. ML: Where do you see...

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We have argued earlier that the FII tag is being used by many dubious entities. Here is more evidence In one of the many trial balloons floated through the media during the run up to the Budget, we are told that the Finance Ministry plans a “big bang” approach to capital markets that could...

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Last year, 45 of the 130 equity diversified schemes failed to beat their benchmarks. Believe it or not, two of them actually lost money! Here are the winners and losers and what to do with them. Analysis by ML Research Desk Every New Year, it is common to swear off your bad habits and make...

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One more attractive stock in the engineering sector A joint venture between the Yash Birla Group and US-based Kennametal Corporation, Birla Kennametal (BKL) manufactures a wide range of precision tools. Its rotating tool holder is an essential accessory for CNC machining centres the demand for...

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ML: After years of being in the doldrums, hotels are among the hottest growth sectors today. What are the reasons it will stay hot in the future? Suri We have woken up to our true potential in tourism and are taking all the right steps. So, the moment we have started selling ourselves...

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Telephone users in India are getting used to being showered with goodies. Thanks to competition, operators are being forced to announce some incentive or the other all the time in order to not only gain new customers, but also to retain the existing ones. Communications minister...

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Lakshmi Machine Works is reaping the benefits of its intense business focus Normally, a company that sells manufactured goods (say garments) does better than the supplier of machinery that is needed to do the manufacturing (sewing machines). That is because the manufacturer captures a higher...

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Price are likely to ramain subdued throughout 2007. That's bad for aluminium stocks Late on October 11, the world’s largest aluminium company Aloca Inc. announced its third-quarter results. Revenues climbed by 19% to $7.6 billion and profit leapt by 86% to $537 million, or 61 cents a share...

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Here is a statutory warning: DO NOT BE MISLED BY THE DECEPTIVE EASE OF FREEHAND. You couldn't be more wrong if you thought real men do macho stuff like lifting weights while sissies go for airy-fairy freehand. Consider the example of Matt Furey, a living testimonial for freehand (also...

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Bank of India and ICICI Bank have launched unique credit counselling centres for advising the public. Sucheta Dalal reports on this interesting effort Fans of Suze Orman or occasionally Oprah Winfrey have probably watched their special shows on financial counselling to get American families off...

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Sector selection significantly defines portfolio performance. Stocks within a sector tend to move together, as companies within the same industry group are affected in similar ways by market and economic conditions. The prospects of a particular sector determine how all stocks within that sector...

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To a generation whose life centres around the latest cellphones, music systems and powerful bikes, it would seem ridiculous that hundreds of thousands of Westerners would dump what seemed like the first traces of modern day mass prosperity and take the difficult road to the East. But they did;...

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The market is enamoured of small and mid-caps. Foreign investors do not see much value in large-cap stocks even as their passion for India remains undiminished while domestic mutual funds are sitting on lots of cash looking for stocks that are relatively undiscovered. UTI closed a large...

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A widespread economic boom can change the fortunes of even the most ordinary company. At one time, Khatau Mills may have been the best name in sarees, voiles and fabrics but the group fell on hard times in the ’80s and ’90s. But a strong demand for industrial chemicals and India’s...

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Ask any fund manager about the current valuation of the equity market and he would probably sum it up in just one line - the Sensex trades at a PE of 19 times while the Nifty at 18 times earnings. The problem is that this is the average PE and totally useless. It is like putting your...

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Shreedhar Kanetkar on how two legends of US industry got together and what it meant Once upon a time, there was an investment banker named John. He was young and, unfortunately, not very happy. After years of close association, one of his firm’s most valued clients (we’ll call it Company...

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Of the 28 NFOs of 2006, 20 failed to beat their benchmarks Last year was a big year for stocks. The Sensex went up by 42%, riding on which we also saw a large number of new fund offerings (NFOs). How have these funds done and what holds for investors in future? Of the NFOs in 2006, we have...

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