Sharekhan Investor's Eye dated August 09, 2006

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Sunil

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Aug 9, 2006, 10:21:03 PM8/9/06
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Investor's Eye
[August 09, 2006] Please see the attachment for details
Summary of Contents

PULSE TRACK

  • Fed keeps interest rate unchanged—positive for equities


SECTOR UPDATE

Telecom

Stay connected

During the month of July, the Indian wireless telephony service operators added 5.4 million new users (a growth of 4.9% over June 2006), taking the total user base to 114.7 million. The GSM segment reported a healthy addition of 3.93 million subscribers (a growth of 5% over the subscriber base at the end of June 2006) taking the user base to 82.4 million. On the other hand, the CDMA operators added 1.46 million new users in July (a growth of 4.8% over June 2006) taking the user base to 32.2 million.




Automobile

Higher sales despite monsoon
Even though it is usually a lean month due to the monsoons, the automobile sector registered a strong growth in July this year with a slight slowdown in the two-wheeler sales during the month. The overall automobile sales volume rose by 20.95% with the domestic and export sales rising by 17.9% and 19.4% respectively.


MUTUAL GAINS

Sharekhan's top equity fund picks

We have identified the best equity-oriented schemes available in the market today based on the following parameters: the past performance as indicated by the returns, the Sharpe ratio and Fama (net selectivity).

The past performance is measured by the returns generated by the scheme. Sharpe indicates risk-adjusted returns, giving the returns earned in excess of the risk-free rate for each unit of the risk taken.FAMA measures the returns generated through selectivity, ie the returns generated because of the fund manager's ability to pick the right stocks. A higher value of net selectivity is always preferred as it reflects the stock picking ability of the fund manager.


MUTUAL FUNDS: WHAT'S IN—WHAT'S OUT 

Fund Analysis: August 2006

An analysis has been undertaken on equity and mid-cap funds' portfolios, indicating the favourite picks of fund managers for the month of July 2006. Equity funds comprise of all diversified, index, sector and tax planning funds, whereas midcap funds include a universe of 17 funds such as Reliance Growth, Franklin India Prima Fund, HDFC Capital Builder, Birla Mid-cap Fund etc.

Regards,
The Sharekhan Research Team
myac...@sharekhan.com  

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Investor's Eye-Aug09.pdf
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