2008 | Dalal Street

Mutual Funds Review

Fall & Rise – Performance of Diversified Funds

November 12, 20081 min read

In the first week of Nov-08, SENSEX broke its losing streak and rallied from a low of 8,509 on Oct-27th to 10,536 on Nov-10th – a gain of 23.82%.

We decided to find the performance of Mutual Funds we have recommended here and some randomly chosen funds with ratings of 4/5 stars. None of the mutual fund returns have beaten SENSEX in this relief rally, mainly due to the fact that the rally was concentrated in few Index heavyweights. This doesn’t mean you desert your Mutual Funds investments 🙂

Here is the Data of various Funds HDFC, ICICI, Reliance, DSP BlackRock, Franklin, Kotak, Fidelity and Birla Sun etc.

Economy, Markets and Macro Views

What Foreign Investors think about India ?

November 11, 20082 min read

In an analysis by HSBC about the top 10 questions on the minds of foreign investors for investing in Asia, the outlook for India is gloomy with the slowdown and general elections, approximately 6 months away.

No of Investors argued that the cyclical downturn in India may turn into a full-blown slump as global financial problems start to spill over into the economy. However, HSBC firmly defended that there one should not be worried. (more…)

Breaking Corporate India Earnings News

GDP Forecast down to 5.8% – Goldman Sachs

November 10, 20081 min read

Goldman Sachs has revised India’s GDP growth numbers for FY09 to 6.7% from 7.5% and for FY10 to 5.8% from 7.0%. GS cited that the larger-than-expected shock to the financial sector over the past couple of months, and its knock-on effects on both domestic and external demand key factors that led to the downgrade.

Expect growth to trough at a quarterly pace of 5.0% in the April-June quarter of FY10, before recovering to 6.6% by end-FY10. Large monetary policy stimulus, prospects of a good agricultural crop supporting rural demand, lower commodity prices, and ongoing infrastructure spending which would limit further downside to growth.

As we move into FY10, political risks will begin to weigh-in and stronger measures required at the macro level will be hit.

Equity Research

Everest Kanto Cylinder + Nitin Fire Protection – Review

November 10, 20081 min read

The Growth in CNG cylinders’ usage will continue to be robust for the next few years despite the recent fall in crude oil prices as developing economies which account for bulk of the demand rely heavily on imported sources of energy, hydrocarbon supply over the next 5-10 years will not match demand and CNG is definitely economical. (more…)

Economy, Markets and Macro Views

Sensex Technical Analysis – Long Term

November 10, 20082 min read

This report is quite scary but we gotta face the truth and read into the data of Technical Analysts. ENAM Research has studied the SENSEX charts of the past 30 years and according to them, the correction is still not over.

India has witnessed a Grand bull market in the past 30 years, with intermittent bear markets commencing after every 8 years. Indian markets have experienced significant bear markets/consolidation after peaking out higher every 8 years; that is, after forming a high in the years 1985, 1992, 2000 and 2008. (more…)

Economy, Markets and Macro Views

Titan Industries + Gitanjali Gems

November 8, 20082 min read

Titan reported a 53% increase in sales and 88% net profit growth. Moreover, sales growth of both the watches and jewellery divisions was satisfactory; both posted handsome margin expansion. EBIT margins expanded 270bp on mix gains, ahead of expectations, as premium-end Titan and Fastrack continued to grow significantly faster than mass-end Sonata. Titan Eye+ store roll out is on track with 34 stores at the end of the quarter; target being 60 stores by FY09 end. (more…)

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