The Unit Trust of India has been in news mainly with the trust on the defensive justifying its position in Unit Scheme '64. However, the another segment of UTI funds, its equity funds have staged a significant comeback in recent months ever since the stock market began its affair with cyclical stocks. With the momentum gaining strength, we take a closer look at four Master funds.

Is Mastek overvalued?

Propelled by an 180 per cent growth in bottomline and rumours of a liberal bonus, Mastek Limited has zoomed on the bourses. The stock has appreciated by an incredible 94 per cent in the last 10 days to cross the Rs 1000-mark. Is the scrip overvalued at current levels or is there more steam left in the stock? Technically, the scrip seems ready for a correction. The indicators are in the overbought zone - the short-term relative strength index has formed a new top, indicating a reversal.

The cost-plus advantage of IT sector

The Indian softwareservices sector is young. However, it has outperformed every other sector in India. From a size of just US $ 15 million a decade ago, the Indian software industry is today estimated at US $ 2.7 billion. Inclusive of an in-house software development, it has grown to a size of US $ 3.8 billion today. The sector has become a key foreign exchange earner for the economy and generated revenues of US $ 1.75 billion in FY98, increasing its overall importance to the country.

Things do look rosy, but may change So profit-taking is here, putting investors and speculators on a cautious mode. It is time the players halt and give a thought to the most important question in stock trading: The balance between intrinsic worth and the market price one is willing to pay. The market price itself is a function of the availability of quality equity and the funds chasing them.

Birla Cash Plus cuts minimum investment

Birla Cash Plus, the short-term debt plan from Birla Mutual Fund, has slashed the minimum investmentfrom Rs 25,000 to Rs 10,000. The fund has also introduced the facility of paying 95 per cent of the redemption amount in Birla Cash Plus through a post-dated cheque at the time of investment itself. Birla Cash Plus was the first short-term liquid plan in the domestic industry.

Nomination facility unveiled

Shareholders, debenture-holders and holders of deposits in companies will now have nomination facility. The government has notified the form for filing of the nominations under the latest amendment of the Companies Act. Earlier, holders of shares and debentures were required to obtain succession letter from the competent authority. "The nomination facility is intended to make the company law in tune with the present-day economic policies of liberalisation and de-regulation'', an official release said.