Unit Trust of India has drastically pruned the dividend of its Unit Scheme '64 from 20 per cent to 13.50 per cent. This implies a yield of 9.64 per cent on the July 1998 sale price. This year, the dividend has been paid entirely out of the annual income of Rs 2179 crore, which is a 16 per cent earning on the outstanding unit capital.

Value funds stage a comeback

Recently, investors have taken a fancy to cyclical stocks. The group consists of traditional smokestack Indian industries like cement, aluminium, engineering, refining, petrochemicals and capital goods (in generic terms referred to as `value stocks'). Largely out of favour for the past four or five years, these stocks have significantly under-performed the Sensex and growth stocks.

An attractive valuation

The thrust on new businesses like e-commerce and web-enabled technology is likely to see R S Software's(RSSL) income rise by 100 per cent and net profit by over 80 per cent in the currentfiscal. At present, the stock is trading at Rs 174, enjoying a PE of a mere 13.6.

EPIC likely to show healthy bottomline

Epic Ltd (formerly called Enzymes, Pharmaceuticals and Industrial Chemicals), is a low-priced agro-chemical company with an MNC tag. A recent turnaround case, EPIC is the largest producer of ethofumesate (along with Agrevo) and the second largest producer of metamitron (next only to Bayer AG) in India.

Hikal peaks on informed buying?

The number of upwardly mobile scrips on the bourses is rising by the day. Yet, only a few sustain the spurt and stand out over a period. The Mumbai-based Hikal Chemicals Ltd (HCL), jointly promoted by Hiremaths and their in-laws, Kalyanis (of Bharat Forge), has been one such scrip.

Ride the northward wave till it lasts

On Friday, markets were trading as if the latest developments on Kargil have been discounted. The week that went by saw many anxious moments. Stock prices jumped up and down in alternate bouts of fear and hopes.Fear that the war could escalate and hopes that the skirmish was about to end, thanks to global pressure on Pakistan.

Subex announces IPO

Subex Systems Ltd, a fast growing Bangalore-based provider of telecom software solutions on Friday announced its forthcoming public issue of 9,71,000 equity shares of Rs 10 for cash at a premium of Rs 65 per share, aggregating to Rs 7,28,25,000.