Prajna Capital - An Investment Guide

Bajaj Allianz Wealth Insurance Plan is a vanilla, single-premium product with not many features. The policy gives loyalty units ranging from 3-7% of the single premium at the end of the fifth year of the policy      SINGLE-PREMIUM unit-linked insurance products are popular among investors due to the convenience and less worries. However, the new Ulip season has seen very few such products. The Wealth Insurance Plan from Bajaj Allianz Insurance Company is one among the few new products. This is a single-premium whole life unit-linked insurance policy. It is a vanilla product, with the maturity age fixed at 75 years. The plan offers a comprehensive basket of investment options (funds), with varied proportion of equity and debt, for one to choose from as per the risk and return appetite. For instance, the equity growth, pure stock and accelerator mid-cap options are equity-based, whereas liquid and bond funds are debt-based. Those looking for a balanced portfolio can opt for the asset ...

  Co Reports Rs 21-Cr Net Loss In Sept, But Increasing Demand Gives Room For Optimism   JK CEMENT, which is focused on northern India and Karnataka markets, has seen some investor interest over the past three months, despite a rather lacklustre performance in the September 2010 quarter. At Monday's close of Rs 170.8, the stock has gained nearly 11% during the quarter compared with a 14.9% rise in the broader market.    And that's because of expectations of a pick-up in cement demand in the post-monsoon, given strong economic activity in the country and pick-up in housing demand. In addition, media reports indicate that cement prices have risen sharply in several parts of the country.    For instance, in New Delhi, cement prices are currently at Rs 220 per bag levels, a rise of 15 % from three months earlier, as per estimates. Also, in key southern markets, like Bengalaru, prices are at Rs 235 per bag, a rise of 27 % during this period. This in turn should help to bring...

  The focus on value is what has helped the fund perform better over a period of time Despite hitting the occasional road block, HDFC Equity still one of the sturdiest shops around. After putting on an impressive show in 2005, it delivered a pretty muted performance in 2006 and 2007. But it also brought to the fore the inherent strength of the fund manager, who sticks by his convictions, irrespective of whoever else is playing the momentum game. " HDFC Equity Fund focuses on investing in quality companies that are reasonably valued and have a growth bias," says Prashant Jain, Fund Manager. So even if it means being temporarily punished, he will stick to good quality businesses, remain diversified and be wary of richly valued investments.   In 2007, his high exposure to Financials did not impact as much as Metals or Construction where the fund's exposure was low. Neither did he go overboard on Energy. "The portfolio moves were, in my opinion, consistent with ...

This is a turnaround story. Launched in September 2003, it was only in 2007 that the fund began to give its peers serious competition. Coincidentally, that was the year Robeco took a stake in the AMC. Ever since then, the fund has outperformed both, its benchmark and the category average every single year. Over the 3-year period ended February 28, 2010, it delivered an annualised return of 17.14 per cent (category average: 10.32%, BSE 200: 10.27%).   Till 2006, the fund resembled a mid cap fund with the allocation to large cap stocks rarely exceeding 50 per cent, at times going to as low as 10 per cent. Also, the portfolio tended to be rather erratic. In certain months, there would be just 15 stocks in the portfolio and the number would jump to 55 the very next month, to drop to 41 within three months. This resulted in the fund being hit harder in market downturns. For instance, in the quarter ended March 2004, it shed 11 per cent (category average: -2%). Again, in the downfall in t...

THE phase-III trials for Crofelemer for cure of HIV-associated diarrhoea have been completed successfully. And that is good news for Glenmark Pharma, since the drug's development and commercialisation rights in select markets have been in-licensed by the company. The drug, whose launch in India and the rest of the world is subject to regulatory approvals, is touted to become the first novel drug launched by the company.    The company's announcement came at a time when its stock is trading at almost a two-year high, riding on the wave of a stellar financial performance during the second quarter ended September 2010. Glenmark's stock gained 4.4% during the day and closed 3.6% up for the day.    Crofelemer is a first-in-class anti-diarrhoeal drug. Glenmark's partners — US-based Napo Pharmaceuticals and Salix Pharmaceuticals — have announced the completion of phase-III trials for the drug in the US. Glenmark has in-licensed the developing and marketing rights to the ...

Despite the blip in the performance of DWS Alpha Equity, its decent track record still makes it a worthy pick After a top quartile performance for three consecutive years, the fund found itself in the bottom quartile in 2009. But investors should not be in a hurry to write it off.   The fund manager maintains a compact portfolio and limits his mid- and small-cap exposure to around 25 per cent of the portfolio. Last year, his mid-cap exposure failed to give the boost despite rising from 12 per cent (February 2009) to 25 per cent (May 2009). In fact, the fund faltered in the June quarter of 2009 with a return of just 33 per cent, below the category average (41%) and benchmark (42%). The fund manager did not hop onto the rally in time and cash exposure dropped only in May. Even till June, the exposure to FMCG was 16 per cent. "Between March and May, the Sensex moved up 85 per cent. And the stocks that fell the highest in 2008 were the ones to immediately bounce back in 2009. How...

THE results for the September 2010 quarter of Jain Irrigation System (JISL) cheered investor sentiments on Monday as the scrip gained nearly 3% in an overall weak market. The company reported a 46% jump in its net profit for the quarter, which is traditionally its leanest quarter, and is now trading at more than 34 times its earnings for last 12 months.    The company had revealed losses in its subsidiaries for FY10, which had dampened the scrip's performance over the past couple of months. The June quarter numbers, although operationally strong, was weak thanks to forex losses. Against this background, the September quarter's performance provided a much needed boost to the investor sentiments.    Out of JISL's outstanding loans of Rs 1,941 crore, loans worth Rs 750 crore are in foreign currencies. With currency rates fluctuating, the company has to book a mark-to-market loss or profit on these liabilities, which are notional in nature. These numbers influence the com...