I jointly own some debentures issued by Reliance Polyethylene and Reliance Polypropylene along with my brother. I would like to convert them to equity shares. Since these companies have now merged into Reliance Industries, will they issue equity shares from that company? Please tell me the procedure for conversion. I am trying to contact the company but there is no response.
The conversion of Reliance Polyethylene and Reliance Polypropylene was done long time back and the company issued new share certificates to all shareholders. However, if you have not received them, then you need to contact the company for this. You can contact at: Reliance Industries Ltd, Maker Chamb. IV, 3rd Floor, 222 Nariman Pt, Mumbai , Pin: 400021, Tel: 91-22-22785000, Fax: 91-22-22785111.
I want to invest Rs20,000-30,000 in mutual funds for tax saving. Please suggest which mutual funds are good.
Fidelity Tax Advantage Fund and SBI Magnum Tax gain both are good options for tax-saving investment. You can distribute your investable amount in both these schemes.
Kindly advice me on the following shares:
1) I had purchase 450 shares of IDBI at Rs179 each and instead of selling 400 shares at Rs179, by mistake I bought them online at Rs179.40. Today I have total of 850 shares at Rs179.40.
2) I have 250 shares of IDEA at Rs154.
3) I have 800 shares of ISPAT at Rs88.
4) I have 800 shares of Lyyod Steels at Rs30.45.
5) 75 Shares of Satya Computers at Rs475.
Up to what period should I hold the above-mentioned shares? I am a short-term investor and new to trading.
It is very important for short-term traders to know the ins and outs of the game before indulging into any type of short-term investing. In fact short-term trading is more about discipline than trading practices. Since you are new into trading my advice is unless you have experienced stock market enough, you should not indulge into short-term trading. But if you have to then you should know and follow the rules of the games very strictly and the most important one being—stop loss. Practically all your stocks had triggered their stop loss values, but since you did not apply stop losses, you are in losses.
Now, since you are having the delivery of theses stocks, I would advice you to continue holding them for some more time. Idea Celllular Ltd, IDBI Ltd, Satyam Computer Ltd and Ispat Industries Ltd are all good stocks and you may get profits in them in three to six months time. My advice is hold them with a six months time frame.
I have shares of Anupama Steels Ltd, Eastern Circuits Ltd, Bhuvan Tripura Ltd, Teletek India Ltd and Syngenta India Ltd. I have not received any feedback or reply to my letters addressed to the available address. Can you please provide me with their contact details?
-Dayananda Kamath K.
The address of Anupama Steel Ltd is as follows: Anupama Steel Ltd, Plot No. 15, Alang Ship Breaking Yard, Manar-364510, Gujarat. Regarding Bhuvan Tripura, you can contact at 23, 24, GIDC, Nandesari, Vadodara-391340, Gujarat.
Teletek India Ltd has its registered office at 222, Bonthapally, Jinnaram Mandal, Medak District, Andhra Pradesh.
Syngenta India Ltd which got delisted from BSE last year can be contacted at Royal Insurance Building, 3rd Floor, 14, J Tata Road, Churchgate, Mumbai-400020, Maharashtra, Tel: 022- 22043720, Fax: 022- 22029170
Answers are based on a technical analysis of the markets and individual stocks. The views expressed on this page are not the newspaper’s opinion and are provided for information purposes by Vipul Verma. Readers are requested to do their own research before participating in the stock markets. Neither the paper nor the information provider will be responsible for any outcome based on information provided here.