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Sangam’s recent results were misleading Textiles is a commodity business, but not entirely for all manufacturers in the supply chain. Look at Sangam India. Sangam makes dyed polyester viscose yarn (PVY), which is sold to textile manufacturers like Reliance, Grasim, Siyaram, etc. It also uses...

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How to avoid confusion at least about taxation between spouses? Ameet Patel explains As per Hindu traditions, after marriage, the husband and wife are supposed to share everything in their lives equally with each other. One spouse may love to share the tax liability with the other; but...

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  Alstom is on a strong growh path Demand for power equipment is booming and, along with ABB and Siemens, Alstom - the third global major in this area - is doing extremely well. Alstom has supplied more than 25% of the world’s installed power generation capacity and has 18% market share of...

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Is Asian Electronics on to a goldmine? We have discussed this company in the past and it has come up again on our three-month rolling returns screen. Asian Electronics Ltd. (AEL), is into design, manufacturing and marketing of energy-efficient products. It offers efficient and high-quality...

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How serious is the new requirement of mandatory PAN  for investments in mutual funds? The mutual fund industry has wangled a last-minute reprieve until December 2007 to the rule mandating submission of permanent account number (PAN) by fund investors. That is nice; but let’s do a flashback to...

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What exactly is India's investor population? It is much less than what regulators claim it to be finds, Sucheta Dalal If investor protection is part of the preamble of the SEBI (Securities and Exchange Board of India) Act, then shouldn't the regulator have some clue to the size of India's...

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There are dozens of awards for the best fund   manager. They may be based on faulty analysis. Is there an alternative? There is enough evidence that over the long term, fund managers engaged in smart stock-picking are not able to do much better than the indices and, therefore, also than the...

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Investors’ Grievances Forum (IGF), headed by former Member of Parliament Kirit Somaya, has alleged that mutual funds are illegally pocketing the entry and exit load that they levy when investors move in and out of their fund investments. Mutual funds profess to encourage long-term investments...

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While dealing with brokers, don’t lose sight of the principle of ‘buyer beware’, says Sucheta Dalal. Your chances of winning a dispute with them through the arbitration process are low Individual investors who are compelled to rely on industry-run securities arbitration to resolve their claims...

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SHCIL tries to regain control of its subsidiary and CBI asks questions, but the market regulator continues to remain a silent spectator, says Sucheta Dalal Having allowed its wholly-owned subsidiary SHCIL Services Ltd (SSL) to pass out of its hold to a bunch of private and foreign entities...

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Tayo Rolls is doing very well and probably has a great future Tayo Rolls Limited, a subsidiary of Tata Steel, formerly known as Tata-Yodogawa, is an interesting micro-cap stock to watch. It has consistently beaten the micro-cap index for the past three months. The reason is simple – the booming...

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Growth matters. But so does capital expenditure and return on capital, says Shreedhar Kanetkar Work brought Panda Babu from Kolkata to Pune recently. Babu, 34, was so pleased with the facilities his employer offered that he invited his family to join him. He now lives conveniently close to...

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Value funds have been doing badly of late. That is because in a growth environment, who cares for value? While they wait for re-rating, value funds suffer. Is there a way around this? Pick the better of the value funds and pick the better quality of stocks among them to create your own portfolio...

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I want to share our experience of some of the hypermarkets that are coming up in tier-2 cities like Jaipur. All the major chains (Big Bazaar, Vishal Megamart and Reliance Fresh) are here. There is a fear that these will replace the small vendors. If my experience and that of many of my...

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Why is Ess Dee more expensive than most blue chips? Let’s start with the valuation of this company first and then look at its growth prospects - the reverse of what we normally do. How does a Rs200 crore company with a net profit of Rs12 crore have a market cap of Rs1400 crore? That’s Ess...

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Even hedge funds cannot time the market, points out a recent study. They do plain old stock-picking in a better way It is well-known that hedge funds (meant for institutional investors) beat mutual funds (meant for retail investors) over most periods. How do they do it? Public image and...

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In April 1998, Finance Minister Yashwant Sinha was in Washington DC. His son Jayant, working with McKinsey, introduced him to a friend of his from IIT, Delhi, called Raghuram Rajan, who later became the chief economist of the International Monetary Fund. The FM was looking for ideas to trigger...

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It is critical to know the expectations of people in other parts of the world about punctuality Indians are a little flexible with punctuality. However, it is important to know the expectations of people in other parts of the world. They don’t care much about what we do in India, but they would...

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What exactly to look out for when you are buying an insurance policy? Anil Jain has a small second car that is seldom used. He needs just the mandatory third party insurance (cost: Rs670) for the car; but the private sector insurer is keen on selling him a comprehensive policy (cost: Rs2,200)...

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Small steel stocks are hot. Raipur Alloys is one of them Steel manufacturers have been reaping the benefits of strong demand for the commodity, led by a boom in construction and infrastructure development. Steel is in great demand internationally too, mainly led by China’s huge appetite for...

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