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A Weekly Update from SMC(For private circulation only)
WISE M NEY
HAPPY GUDI PADWA!
Wishing you countless joy,Wealth & Prosperity This New Year
2017: Issue 572, Week: 27th - 30th March
Bra
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2017: Issue 572, Week: 27th - 30th March
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From The Desk Of Editor
(Saurabh Jain)
SMC Global Securities Ltd. (hereinafter referred to as “SMC”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited and its associate is member of MCX stock Exchange Limited. It is also registered as a Depository Participant with CDSL and NSDL. Its associates merchant banker and Portfolio Manager are registered with SEBI and NBFC registered with RBI. It also has registration with AMFI as a Mutual Fund Distributor.
SMC has applied with SEBI for registering as a Research Entity in terms of SEBI (Research Analyst) Regulations, 2014. SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market.
SMC or its associates including its relatives/analyst do not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. SMC or its associates and relatives does not have any material conflict of interest. SMC or its associates/analyst has not received any compensation from the company covered by Analyst during the past twelve months. The subject company has not been a client of SMC during the past twelve months. SMC or its associates has not received any compensation or other benefits from the company covered by analyst or third party in connection with the research report. The Analyst has not served as an officer, director or employee of company covered by Analyst and SMC has not been engaged in market making activity of the company covered by Analyst.
The views expressed are based solely on information available publicly available/internal data/ other reliable sources believed to be true.
SMC does not represent/ provide any warranty express or implied to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any investment decision.
lobal markets came off during the week gone by amid uncertainties over US
president Donald Trump's ability to push through major reforms. The euro area Gpressured Greece to resolve outstanding pension and labor-market issues with its bailout creditors, a repeat of events seen in 2015 when Greece came to the brink of
crashing out of the Eurozone amid a row over austerity reforms linked to the rescue
program. In Japan, exports rose at the sharpest rate in two years in February as demand
from China and other parts of Asia jumped, underpinning a modest but continuing recovery
in the world's third-largest economy.
Back at home, the Union Cabinet chaired by the Prime Minister Narendra Modi has approved
the four Goods and Services Tax (GST) related bills on 20 March 2017, namely, the Central
Goods and Services Tax Bill 2017 (The CGST Bill), the Integrated Goods and Services Tax Bill
2017 (The IGST Bill), the Union Territory Goods and Services Tax Bill 2017 (The UTGST Bill)
and the Goods and Services Tax (Compensation to the States) Bill 2017 (The Compensation
Bill). The market is expected to remain volatile as traders will roll over positions in the
futures & options (F&O) segment of March 2017 derivatives contract that will expire on
Thursday, 30 March 2017. Macroeconomic data, trend in global markets, investment by
foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement
of rupee against the dollar and crude oil price movement will dictate trend on the bourses
in week ahead.
On the commodity market front, overall CRB moved down in the week gone by. Bullion
counter witnessed swift rally on weaker greenback and less hawkish stance by Fed but
profit booking at higher level can be seen in near term. It has support near $1220 in COMEX
and Rs. 28200 in MCX. Crude oil prices may remain sideways on mixed fundamentals. Surge
in production from US shale producers are keeping the prices downbeat while OPEC
production cut is capping the downside. Natural gas can move in the range of 185-215 in
MCX. In base metal counter, easing of supply concerns and China manufacturing PMI data
this week would further give direction to the prices. Advance Goods Trade Balance,
Consumer Confidence, GDP and Personal Consumption Expenditure Core of US, German
CPI, CPI of Japan, Manufacturing PMI of China, German Unemployment Change and
Unemployment Rate, GDP of UK, CPI of Euro Zone, GDP of Canada, etc are some data and
events, which are scheduled this week.
Contents
Equity 4-7
Derivatives 8-9
Commodity 10-13
Currency 14
IPO 15
FD Monitor 16
Mutual Fund 17-18
SMC GLOBAL SECURITIES LTD.
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NEWS
DOMESTIC NEWSMetal & Mining• Hindalco Industries is planning to set up a 24 Mw solar power plant within the
premises of its aluminium plant at Lapanga in Sambalpur district. The company intends to invest `150 crore in the project to be spread over 120 acres of land available with the company.
Power• NTPC has commissioned 2nd unit of 800 MW of Kudgi Super Thermal Power
Station (3 X 800 MW) has been commissioned. With this, the commissioned capacity of Kudgi Super Thermal Power Station, NTPC and NTPC group has become 1600 MW, 42977 MW and 49943 MW respectively.
• NHPC has signed Power Purchase Agreements in respect seven power stations namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with Tata Power- Delhi Distribution on 22 March 2017.
Capital Goods• BHEL has commissioned a 250 MW unit at the upcoming Bongaigaon thermal
power station in Assam and is executing the main plant package contract for setting up three coal-fired units of 250 MW each at Bongaigaon TPS of NTPC.
• Sunil Hitech Engineers has won a ̀ 982 crore highway project in Maharashtra to widen a stretch on NH 211. The National Highways Authority of India (NHAI) has given the work for constructing and widening the existing 2-lane Bodhre to Dhule road section of NH-211 to four/six lane in Maharashtra for a bid project cost of ̀ 982 crore on Hybrid annuity Model (HAM).
Infrastructure• Larsen & Toubro has bagged an offshore project order worth `1,656 crore
from state-run ONGC. The order, which was bagged and will be executed by L&T's subsidiary, L&T Hydrocarbon Engineering relates to ONGC's Neelam Re-Development & B173AC projects.
Pharmaceutical• Piramal Enterprises has completed acquisition of a portfolio of drugs for
spasticity and pain management from Mallinckrodt LLC. The acquisition for a cash consideration of $171 million and up to an additional $32 million payable depending on financial performance of the acquired assets over the next three years.
• Glenmark Pharmaceuticals USA has got tentative approval from the United States Food and Drug Administration (USFDA) for Fingolimod capsules, the generic version of Gilenya capsules of Novartis Pharmaceuticals Corp.
• Glenmark Pharmaceuticals USA has received approval from the United States Food and Drug Administration (USFDA) for Clobetasol Propionate Ointment, used for treatment of various skin conditions. The approved product is a generic version of Fougera Pharmaceuticals Inc's Temovate Ointment, 0.05 per cent.
• Wockhardt has received approval from the US health regulator to market generic version of Wyeth's Zosyn, used for treating bacterial infections, in the American market.
Oil & Gas• ONGC has signed definitive agreements to buy out debt-ridden GSPC's entire
80 per cent stake in KG-basin natural gas block for $1.2 billion.Telecom• Bharti Airtel has announced that it will acquire the 4G business of Tikona
along with the BWA Spectrum in the 2300 MHz band in UP (East), UP (West) and Rajasthan through its subsidiary Bharti Hexacom, thereby achieving pan India footprint in the 2300 MHz band. This acquisition will significantly bolster Airtel's current spectrum holding in all the 5 circles and specifically in Gujarat and Himachal Pradesh to 30 MHz in that band. The cost of acquisition in approximately 1600 crore.
INTERNATIONAL NEWS• The Existing home sales in the U.S. saw a sharp pullback in the month of
February according to the National Association of Realtors tumbling by 3.7 percent to an annual rate of 5.48 million in February after jumping by 3.3 percent to a rate of 5.69 million in January.
• The number of Americans filing for unemployment benefits increased by 15 thousand to 258 thousand in the week ended March 18th 2017, above market expectations of 240 thousand. It is the highest reading in seven weeks. The 4-week moving average that removes week-to-week volatility increased by 1,000 to 240,000.
• Japan had a surplus of 813.389 billion yen in February according to the Ministry of Finance, that surpassed expectations for 807.2 billion yen following the downwardly revised 1,087.9 billion yen deficit (originally -1,086.9 billion yen) in January. Exports jumped 11.3 percent on year, imports added an annual 1.2 percent.
• British Prime Minister Theresa May will invoke the Article 50 of the Lisbon Treaty on March 29, thus formally beginning the process of exiting the European Union. In the referendum held on June 23 last year, 52 percent of Britons voted to leave the EU in a historic and surprise move.
Ex-Date Company Purpose
27-Mar-17 COALINDIA Interim Dividend 27-Mar-17 PTL Enterprises Scheme Of Arrangement27-Mar-17 Indiabulls Ventures Interim Dividend Re 1/- Per Share29-Mar-17 Hindustan Zinc Special Int. Dividend Rs 27.50 Per
Share 30-Mar-17 Power Finance Cor. Interim Dividend30-Mar-17 The United Nilgiri
Tea Estates Company Interim Dividend Re 1 /- Per Share 30-Mar-17 MphasiS Buyback30-Mar-17 Mahindra Lifespace
Developers Rights 1:4 @ Premium Rs 282/-30-Mar-17 Sharda Cropchem Interim Dividend Rs 2/- Per Share30-Mar-17 Muthoot Finance Interim Dividend Rs 06/- Per Share31-Mar-17 Bharti Infratel Interim Dividend Rs 12/- Per Share
Meeting Date Company Purpose
27-Mar-17 Andhra Bank Preferential issue27-Mar-17 Sunflag Iron And Steel
Company Meeting Updates27-Mar-17 United Bank of India Preferential issue27-Mar-17 Kaveri Seed Company Buyback27-Mar-17 MindTree Dividend27-Mar-17 Colgate Palmolive (India) Dividend27-Mar-17 Cerebra Integrated
Technologies Issue of Securities28-Mar-17 Autolite (India) Preferential issue28-Mar-17 Mangal credit and fincorp Stock Split28-Mar-17 Themis Medicare Meeting Updates29-Mar-17 Oracle Financial
Services Software Dividend30-Mar-17 India Nippon Electricals Dividend
FORTHCOMING EVENTS
NOTES:1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name
of "Morning Mantra ".2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength
coming into the stock. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.
TREND SHEET
Stocks *Closing Trend Date Rate SUPPORT RESISTANCE Closing
Price Trend Trend
Changed Changed
S&P BSE SENSEX 29421 UP 18.11.16 25627 28200 27500
NIFTY50 9108 UP 27.01.17 8641 8700 8550
NIFTY IT 10769 UP 30.12.16 10399 10300 10000
NIFTY BANK 21123 UP 27.01.17 19708 20000 19500
ACC 1396 UP 27.01.17 1431 1370
BHARTIAIRTEL 341 UP 03.02.17 354 335
BHEL 167 UP 27.01.17 140 155 148
CIPLA 594 UP 03.02.17 608 570 560
SBIN 277 UP 02.12.16 254 260 250
HINDALCO 195 UP 27.01.17 191 175 165
ICICI BANK 275 UP 21.10.16 277 260 255
INFOSYS 1031 UP 10.03.17 1022 970 960
ITC 281 UP 13.01.17 250 265 255
L&T 1551 UP 13.01.17 1439 1470 1450
MARUTI 6005 UP 06.01.17 5616 5800 5700
NTPC 165 DOWN 03.03.17 156 175 180
ONGC* 192 UP 19.08.16 242 - 188
RELIANCE 1287 UP 30.12.16 1082 1220 1190
TATASTEEL 493 UP 04.03.16 289 460 450
S/l
4
Closing as on 24-03-2017*ACC Has broken the support of 1400*Bharti Airtel has broken the support of 345
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BSE SENSEX GAINERS & LOSERS TOP (% Change) NSE NIFTY GAINERS TOP & LOSERS (% Change)
SECTORAL INDICES (% Change)
SMC Trend
FMCGHealthcare
Auto BankRealty
Cap GoodsCons Durable
Oil & GasPower
ITMetal
Down SidewaysUp
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
5
SMC Trend
Nifty Sensex BSE Midcap BSE Smallcap Nifty Junior S&P CNX 500
SMC Trend
FTSE 100CAC 40
NasdaqDow jonesS&P 500
NikkeiStrait times
Hang SengShanghai
-286.60
1600.02
618.91
1617.31
210.57
57.80
-94.60
-299.20-500.00
0.00
500.00
1000.00
1500.00
2000.00
Friday Monday Tuesday Wednesday Thursday
FII / FPI Activity MF Activity
-0.74
-0.86
-0.42
0.15
-0.52 -0.54
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Next 50
S&P CNX 500 -1.55
-2.04
-0.69-0.80
1.99
-0.82
0.12
-0.58
-0.28
-0.04
2.72
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
-1.41-1.33
-1.49
-2.58
-1.16
-0.62
-1.01
0.16
0.39
-3.00
-2.50
-2.00
-1.50
-1.00
-0.50
0.00
0.50
1.00
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
4.85
2.78 2.35 2.31 2.30
-15.26
-5.59-4.86
-3.84-2.59
-20.00
-15.00
-10.00
-5.00
0.00
5.00
10.00
Grasim Inds NTPC Kotak Mah. Bank
Lupin Coal India Idea Cellular Axis Bank ICICI Bank Dr Reddy's Labs
TCS
2.65 2.512.05
1.681.15
-5.59
-4.88
-3.78
-2.85 -2.69
-7.00
-6.00
-5.00
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
NTPC Lupin Coal India O N G C Wipro Axis Bank ICICI Bank Dr Reddy's Labs
Maruti Suzuki
TCS
INSTITUTIONAL ACTIVITY (Equity) (` Crore)
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Beat the street - Fundamental Analysis
Source: Company Website Reuters Capitaline
6
Above calls are recommended with a time horizon of 8 to 10 months.
Investment Rationale media platforms like Airborne rights for in – flight ∑Shemaroo Entertainment Limited is engaged in entertainment, International Film festivals,
the distribution of content for satellite channels, overseas etc. The company has a market presence physical formats and emerging digital in USA, UK, Singapore, Fiji, UAE and Australia, technologies like the mobile, internet, East Europe and North Africa.Broadband, IPTV and DTH among others. ∑The consolidated top-line for December 2016
∑The Company is one of the largest independent quarter has increased by 14% to ̀ 115.22 crore. The content aggregators with a library of more than net profit has increased by 13% to ̀ 14.53 crore. New 3,400 titles, which it distributes across various media business increased by 41% to ̀ 23.5 crore and existing and emerging media platforms. traditional media by 6% to ̀ 89.17 crore in Q3.
∑Shemaroo is among the most viewed channel Valuationpartners for YouTube in India and has more than 40 With uniquely positioned to benefit from the same on channels of its own on YouTube. The company has the back of strong content library, vast relationship crossed 2 million subscribers on flagship YouTube network and strong understanding of the industry channel 'ShemarooEnt' and crossed 5 lakh subscribers dynamics. The company has grown multifold over the on our YouTube channel 'Shemaroo Kannada' years by developing excellent relationships with
∑Company managed to create, maintain and build producers and also the broadcasting networks, goodwill in the industry with repeated thereby becoming the largest organized player in a transactions with known names – STAR, SONY, historically fragmented industry. Thus, it is expected Viacom 18, R.K. Studios, Tips Industries, that the stock will see a price target of ̀ 479 in 8 to 10 Nadiadwala Grandson etc. months time frame on target P/E of 16x and FY18 (E)
earnings of ̀ 29.94.∑Recently, the company has inked a content licensing deal with Vuclip's premium OTT video on demand service, Viu. Through this deal, Viu subscribers can now enjoy Shemaroo Entertainment's catalogue of contemporary full length Hindi movies such as Sarkar, Black, Ishqiya, Traffic Signal, Bheja Fry 2, and The Dirty Picture. Viu can be accessed at www.viu.com or by downloading Viu's Android and iOS apps.
∑Shemaroo and 91.9 FM Radio Nasha ran a month long promotion across Radio and Social Media for the classic movie “Amar Akbar Anthony” culminating into a screening of the movie. There is a significant spike in overall YouTube views in Q3 due to Reliance Jio's free data offering and aggressive data pack offerings by most operators.
∑Company also distributes its contents to other
P/E Chart
SHEMAROO ENTERTAINMENT LIMITED CMP: 375.45 Upside: 28%Target Price: 479.00
Face Value (`) 10.00
52 Week High/Low 439.45/288.20
M.Cap (`Cr.) 1020.56
EPS (`) 22.15
P/E Ratio (times) 16.95
P/B Ratio (times) 2.59
Dividend Yield (%) 0.37
Stock Exchange BSE
` in cr
% OF SHARE HOLDING
VALUE PARAMETERS
Actual Estimate
FY Mar-16 FY Mar-17 FY Mar-18
Revenue 374.90 444.70 522.10
EBITDA 109.80 133.50 163.10EBIT 106.10 134.10 162.50Pre-tax Profit 85.03 103.40 130.70Net Income 52.15 66.16 81.74EPS 22.11 24.40 29.94BVPS 134.24 157.71 186.73ROE 15.30 16.40 17.90
ARVIND LIMITED CMP: 388.80 Upside: 19%Target Price: 464.00
Investment Rationale growth in textiles to ̀ 140 crore.Recently, Arvind partnered with former Indian Meanwhile, the company is bullish on its newly-
cricketer Sachin Tendulkar to launch men's launched omni channel — NNNow.com, going apparel brand 'True Blue'. The company plans to ahead. NNNow.com redefines shopping for Indian open around 25 'True Blue' stores and is eyeing consumers by linking online and offline retail `200-300 crore from the brand in five years. shopping experience.
The textile segment continues to be its main Arvind Group has decided to step into the USD 5.2 revenue generating source and in line with that billion footwear retail industry with the store management of the company plans to focus on its name 'Stride' and plans to open five footwear garments business. To increase its margin, it is stores in the next one and half years. Currently looking to increase the share of fabric sold as the fit-out cost for the stores is coming at `2,200 garments from 6% now to 20% in the next few years. per sq ft and each footwear store building should The expected growth in the Indian retail space, due cost around ̀ 50-70 lakh.to rising incomes, urbanization, attitudinal shifts, Valuationetc., will be the main trigger for this expansion. The company enjoys a global leadership positions in
Its garments segment holds several well-known textiles as well as Carries an unmatched domestic foreign-licensed brands such as Arrow, Tommy portfolio of apparel brands and retail formats. Lower Hilfiger, US Polo, Flying Machine, Calvin Klein, investments in brands and repositioning of Unlimited, Nautica and Izod, Arvind should be able to benefit management of the company expects the operating from the growth in the retail sector. The company margin to improve in near term. Thus it is expected owns & operates India's largest 225-outlet strong that the stock will see a price target of ̀ 464 in 8 to 10 value retail chain under the brand name months time frame on three year average P/E of 'Megamart'. It is setting-up exclusive stores across 22.50x and FY18 (E) earnings of ̀ 20.62.the country - 'The Arvind Store' that brings the best of fabric and ready-mades to its customers.
It has recently sold a 10% stake in its fully-owned subsidiary, Arvind Fashions, for `740 crore to Multiples, a private equity firm. This strategic investment will help Arvind Fashions to improve its position in the domestic apparels market. The transaction was done at overall enterprise valuation of `8,000 crore for the company's branded apparels business.
The company is already planning two garments units in Ethiopia and this would add additional annual revenue of around ̀ 1,000 crore. Moreover, despite demonetization, It has reported 15% YoY increase in revenue to `2346 crore led by 24% growth in branded apparel to Rs 770 crpre and 8%
Face Value (`) 10.00
52 Week High/Low 423.60/257.30
M.Cap (`Cr.) 10045.00
EPS (`) 13.06
P/E Ratio (times) 29.77
P/B Ratio (times) 3.93
Dividend Yield (%) 0.62
Stock Exchange BSE
% OF SHARE HOLDING
P/E Chart
` in cr
Actual EstimateFY Mar-16 FY Mar-17 FY Mar-18
Revenue 8,431.50 9,292.40 10,611.10EBITDA 1,065.10 1,056.60 1,277.80EBIT 809.20 785.20 989.20Pre-tax Profit 524.50 608.90 751.30Net Income 370.70 376.30 528.20EPS 14.35 14.76 20.62BVPS 112.75 130.72 146.58ROE 13.60 12.90 14.10
VALUE PARAMETERS
22.6
16.42
3.39
43.77
13.82
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
15.09
1.85
5.09
65.82
12.15
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
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Charts by Spider Software India Ltd
7
EQUITY
Above calls are recommended with a time horizon of 1-2 months
Disclaimer : The analyst and its affiliates companies make no representation or warranty in relation to the accuracy, completeness or reliability of the information contained in its research. The analysis contained in the analyst research is based on numerous assumptions. Different assumptions could result in materially different results.The analyst, not any of its affiliated companies, not any of their members, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of the analysis research.
SOURCE: CAPITAL LINE
The stock closed at ̀ 202.95 on 24th March 2017. It made a 52-week low at ̀ 135
on 16th November 2016 and a 52-week high of `216.80 on 02nd May 2016. The
200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at ̀ 170.37.
After a drastic fall from 240 levels, it finally took a rebound near 135 levels and
recovered its lost value with the increase in price and volumes. Moreover, it has
gained momentum last week which shows its potential to remain upwards in the
near term. Therefore, one can buy in the range of 194-197 levels for the upside
target of 210-220 levels with SL below 188.
INDO COUNT INDUSTRIES LIMITED
The stock closed at `318.15 on 24th March 2017. It made a 52-week low at
`238.85 on 28th March 2016 and a 52-week high of `410 on 06th October 2016.
The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at ̀ 304.21.
After a steep rise, this particular scrip fell drastically and sustained thereafter
by forming a fresh buying pivot at 280 levels. It is again trading into
consolidation phase and looking at the momentum, it is advisable to buy on dips
to attain good returns in the near term. Therefore, one can buy in the range of
300-307 levels for the upside target of 320-325 levels with SL below 290.
THE HITECH GEARS
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DERIVATIVES
CHANGE IN NIFTY OPTION OI (IN QTY)
WEEKLY VIEW OF THE MARKET
NIFTY OPTION OI CONCENTRATION (IN QTY)
CHANGE IN BANKNIFTY OPTION OI (IN QTY)BANKNIFTY OPTION OI CONCENTRATION (IN QTY)
Markets witnessed profit booking at higher levels and ended the week with negative closing. Weak global cues largely pressurized the markets.
As of now, the recent correction is just seems to be a corrective move of the uptrend and traders should use dip as a buying opportunity. As per
derivative data 8800 put option has the highest OI concentration followed by 9000 put option. On higher side 9200 call option strike stands with
highest OI which will act as resistance in the current expiry. The PCR for the week closed at 1.09 from 1.14, which indicates that traders are still
interested in put writing. The Implied Volatility (IV) of call options moved down at 10.89%, while the average IV of put options closed at 11.01%.
The VIX index moved down to 11.84%. Here on the probability of bounce in Implied Volatility cannot be ruled out. Going forward, 9180 and 9200
will act as immediate hurdle while going beyond this point rally can extend towards the next resistance of 9300-9350 levels. On the downside,
9020 & 8980 has major support. For coming week we expect market to move higher and Nifty may expire in the band of 9150-9250.
In lakhs
In 10000 In 10000
HDFC (MAR FUTURE)
Buy: Above `1470
Target: `1510
Stop loss: `1450
DRREDDY
BUY MAR 2600. PUT 33.00SELL MAR 2550. PUT 16.00
Lot size: 200BEP: 2583.00
Max. Profit: 6600.00 (33.00*200)Max. Loss: 3400.00 (17.00*200)
OPTIONSTRATEGY
FUTURE
BPCL
BUY MAR 640. PUT 4.70SELL MAR 620. PUT 1.20
Lot size: 1200BEP: 636.50
Max. Profit: 19800.00 (16.50*1200)Max. Loss: 4200.00 (3.50*1200)
DERIVATIVE STRATEGIES
BAJAJ-AUTO (MAR FUTURE)
Sell: Below `2840
Target: `2765
Stop loss: `2880
BULLISH STRATEGY
BANKINDIA
BUY MAR 135. CALL 1.70SELL MAR 140. CALL 0.65
Lot size: 6000BEP: 136.05
Max. Profit: 23700.00 (3.95*6000)Max. Loss: 6300.00 (1.05*6000)
GLENMARK (MAR FUTURE)
Sell: Below `879
Target: `851
Stop loss: `894
BEARISH STRATEGY
Call Put
8.5
5
5.9
2
7.9
2
7.6
4
15
.42 2
3.2
6
45
.64
60
.77
43
.88
30
.58
22
.57
24
.96
21
.61
31
.08
55
.45
52
.36
52
.52
36
.27
8.4
8
2.6
5
2.4
1 5.9
9
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500
Call Put
-2.6
8
-1.4
5
-1.4
6
-1.3
7
-1.3
2
-2.3
6
14
.55
3.1
3
-0.0
6
2.2
0
-1
1.6
1
-4.5
4 -1.3
9
-4.2
7
-4.9
0
-4.3
2 -1.5
6
-11
.33
-12
.74
-1.8
3
-0.6
9
-0.1
4
-15.00
-10.00
-5.00
0.00
5.00
10.00
15.00
20.00
8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500
Call Put
12
.64
0.0
1 9.4
7
0.1
4
12
.79
39
.31
8.4
3
63
.78
70
.81
53
.68
10
.58
16
.41
0.6
9
18
.87
4.1
0
48
.10
11
2.3
6
30
.48
52
.42
7.6
2
6.7
7
0.5
9
0.00
20.00
40.00
60.00
80.00
100.00
120.00
19000 19400 19500 19600 20000 20500 20800 21000 21500 22000 22500
Call Put
-2.0
1
-0.0
1
-0.2
2
0.0
0
-1.1
4
-0.9
4
6.0
2
17
.57
-11
.92
-0.3
4
-1.6
4
-1.7
2
-0.0
4
0.5
0
-0.1
9
3.0
4
52
.06
16
.99
-13
.80
-1.5
5
-0.4
8
-0.0
3
-20.00
-10.00
0.00
10.00
20.00
30.00
40.00
50.00
60.00
19000 19400 19500 19600 20000 20500 20800 21000 21500 22000 22500
8
In lakhs
-
9
DERIVATIVES
FII’s ACTIVITY IN DERIVATIVE SEGMENT
SENTIMENT INDICATOR (NIFTY)
23-Mar 22-Mar 21-Mar 20-Mar 17-Mar
Discount/Premium 21.35 19.95 21.50 26.70 11.70
PCR(OI) 1.09 1.01 1.12 1.17 1.23
PCR(VOL) 0.95 0.96 0.96 1.13 1.09
A/D RATIO(Nifty 50) 8.50 0.27 0.65 1.47 0.58
A/D RATIO(All FO Stock)* 7.70 0.18 0.57 1.55 0.47
Implied Volatality 10.89 11.19 11.50 11.17 11.07
VIX 11.84 12.27 11.94 12.02 12.02
HISTORY. VOL 11.90 11.91 11.29 11.64 11.88
*All Future Stock
SENTIMENT INDICATOR (BANKNIFTY)
23-Mar 22-Mar 21-Mar 20-Mar 17-Mar
Discount/Premium 95.15 110.45 121.70 116.00 91.80
PCR(OI) 0.93 0.97 1.13 1.15 1.14
PCR(VOL) 0.94 0.82 1.14 1.05 1.43
A/D RATIO(Nifty 50) 5.00 0.09 0.50 1.40 0.33
#A/D RATIO 6.33 0.05 0.29 1.75 0.16
Implied Volatality 13.82 13.97 14.04 14.40 13.91
VIX 11.84 12.27 11.94 12.02 12.02
FII’S ACTIVITY IN NIFTY FUTURE
**The highest call open interest acts as resistance and highest put open interest acts as support.# Price rise with rise in open interest suggests long buildup | Price fall with rise in open interest suggests short buildup # Price fall with fall in open interest suggests long unwinding | Price rise with fall in open interest suggests short covering
# All BANKING Future Stock
Top 10 short build upTop long build up
LTP % Price Change Open interest %OI Chng
ICIL 197.2 5.77% 7196000 59.38%
ABIRLANUVO 1579.25 4.04% 3358000 29.29%
BHARATFIN 845.5 1.57% 18613000 16.67%
ORIENTBANK 133.95 4.65% 16506000 16.22%
GRASIM 1093.05 4.63% 7185000 13.55%
BOSCHLTD 23070.35 1.20% 96550 11.26%
WIPRO 511.35 1.38% 6160800 7.20%
BATAINDIA 545.9 2.51% 3777400 3.71%
IFCI 30.3 3.95% 66506000 3.63%
STAR 1153.5 1.63% 1972500 3.35%
LTP % Price Change Open interest %OI Chng
DIVISLAB 624.55 -18.28% 7884600 60.20%
ARVIND 390.2 -3.83% 7370000 26.55%
M&M 1278.65 -2.16% 4635000 25.17%
PCJEWELLER 406.45 -2.26% 1090500 21.98%
IGL 1004 -4.12% 2352900 17.40%
ICICIBANK 267.9 -4.90% 71545000 15.84%
AXISBANK 489.75 -5.27% 31660800 11.17%
TCS 2469.15 -2.40% 6387500 10.92%
NIITTECH 414.05 -2.88% 915000 8.73%
BAJAJ-AUTO 2876.9 -1.37% 1408000 8.58%
In Cr. In Cr.
29
2
- 10
4
18
37
- 23
7
85
8
- 13
7
77
7
- 26
10
53
10
1
-500
0
500
1000
1500
2000
9-Mar 10-Mar 14-Mar 15-Mar 16-Mar 17-Mar 20-Mar 21-Mar 22-Mar 23-Mar
- 23
87
- 48
84
56
16
31
5
19
97
28
0
- 38
3
- 29
66
- 43
2
58
5
-6000
-4000
-2000
0
2000
4000
6000
8000
9-Mar 10-Mar 14-Mar 15-Mar 16-Mar 17-Mar 20-Mar 21-Mar 22-Mar 23-Mar
-
10
SPICES
Soybean futures (Apr) is likely to trade with an upside bias & will possibly break the resistance near 2990 levels to test 3050-3100 levels. The sentiments for the oilseed have turned positive as the demand from crusher has improved on account of improving sales of soymeal. As per market participant India is likely to export around 2-2.5 lakh tonnes of soymeal in March month. On CBOT, the outlook of U.S soybean futures (May) on the contrary is bearish as it can fall towards $9.50 a bushel. The U.S. Department of Agriculture is scheduled to release its annual prospective plantings report late next week. The report is expected to show record-high soybean acres. Mustard futures (Apr) is expected to trade higher towards 4110-4150 levels. At the spot markets, demand for mustard oil cake from cattle feed manufacturers has increased as most of the cattle feed manufacturers are shifting to mustard cake from cotton cake as cotton cake is trading at a premium of Rs 340 over mustard cake. Ref. soy oil futures (Apr) is likely to trade in the range of 647-657 levels. At present the buying of edible oil is hand to mouth as the market participants have the knowledge that this season the availability of soy oil is good in the domestic as well as in the international market. On CBOT, U.S soy oil futures may face resistance near 34-34.50 cents a pound & the upside may remain capped on expectations that the United States would take steps to block some biodiesel imports. The National Biodiesel Board has petitioned the U.S. government to impose antidumping and countervailing duties on imports of Argentine and Indonesian biodiesel in violation of trade agreements.
OIL AND OILSEEDS
OTHER COMMODITIES
Wheat futures (Apr) is likely to gain further towards 1700-1720 levels. It is reported that the imposition of import duty on wheat is under consideration and the government will soon take a decision over it. According to a survey of Bloomberg, India's production is set to total 91 million tonnes in the 2016-17 crop year, the lowest since 2014-15 & imports in 2017-18 may total 2 million tonnes, the second highest level in 11 years. In addition, Stockpiles at state warehouses totaled 11.53 million tons in February, down 43 percent from a year earlier, according to state-run Food Corp. Kapas futures (Apr) may witness a consolidation in the range of 1040-1090 levels. At the spot markets, cotton is trading weak on slack demand on account of poor off take of yarn and sluggish exports. Cotton shipments during the first five months of 2016-17 marketing year declined 12% to 43.44 lakh bales. Last year, the same period has seen shipment totaling 49.56 lakh bales. India's export estimated for 2016-17 as per Cotton Advisory Board (CAB) is around 50 lakh bales. Chances of crossing the estimated figure is bleak considering the uncompetitive domestic price in the international market. Cotton oil seed cake futures (Apr) may trade sideways with a downside bias in the range of 2100-2300 levels. Stockiest are now in wait and watch situation as they are looking after the demand situation for the coming months. The core demand of cotton cake this year has reduced by 25-35% due to abundant availability of other feeds in the range of `1,500-1,600/100kg. Secondly, the consistent improvement in the supply of raw material i.e. cotton seed may continue to weigh on cotton cake prices.
Bullion counter witnessed swift rally on weaker greenback and less hawkish stance by fed but profit booking at higher level can be seen in near term. Movement of local currency rupee can also affect the prices which can move in the range of 64.5-66.5. Gold can face resistance of $1270 in COMEX and 29500 in MCX while it has support near $1220 in COMEX and $28200 in MCX. Silver has key support near 40000 in MCX and $16.80 in COMEX. And it has resistance near 42500 in MCX and $18.40 in COMEX. Dallas Federal Reserve Bank President Robert Kaplan stated that the U.S. central bank should be moving "deliberately but patiently" to remove monetary policy accommodation, as long as the economy continues to make progress toward the Fed's goal. Meanwhile geopolitical risk and the elections in France and Germany will give further direction to yellow metal. According to the World Gold Council “Indian gold demand was pummeled in 2016, falling 21 percent to 675.5 tonnes from 857.2 tonnes the prior year, the biggest yearly decline in volume terms”. But there are positive signs this year for India as imports jumped to 50 tonnes in February, up more than 82 percent from the same month in 2016. Meanwhile China this year is one of steady demand, as a depreciating local currency Yuan may spur Chinese investor appetite for gold as a hedge. Moreover concerns about President Trump's ability to quickly push through pro-growth policies, promised during his presidential campaign, have helped diminish demand for assets considered risky.
BULLIONS
Crude oil prices may remain sideways on mixed fundamentals. Meanwhile surge in production from US shale producers are keeping the prices downbeat while OPEC production cut is capping the downside. Crude oil can trade in the range of 3000-3300 in MCX. Meanwhile Saudi Arabia's crude exports to the United States in March would fall by around 300,000 barrels per day (bpd) from February, in line with OPEC's agreement to reduce supply. In the United States, overseas oil suppliers like Saudi Arabia have to compete against rising shale drilling, which has pushed up U.S. oil production. To other major consumer regions, however, Saudi exports remain high despite an effort led by the Organization of the Petroleum Exporting Countries (OPEC), and supported by other producers including Russia, to cut output by almost 1.8 million bpd during the first half of the year to rein in a global supply glut. Natural gas may witness volatile movement as weather related demand to guide its prices. Overall, it can move in the range of 185-215 in MCX. According to NOAA, warmer & normal weather is forecasted to cover most of the counties of the US over the next 8-14 days. Based on data from the National Oceanographic and Atmospheric Administration, this year's extremely warm winter has pushed heating demand for natural gas to nearly 20% below average. Total natural gas in storage currently stands at 2.092 trillion cubic feet, according to the U.S. EIA, 16% lower than levels at this time a year ago but 12.7% above the five-year average for this time of year.
ENERGY COMPLEX
In base metal counter, easing of supply concerns and China manufacturing PMI data this week is likely to give further direction to the prices. Meanwhile, US economic data continues to be better as new home sales jumped to a seven-month high in February. New home sales increased 6.1% to an annual rate of 592,000 units last month, the highest level since July 2016. Copper may move in the range of 370-395 in MCX. The strike at Chile's Escondida, the worlds largest copper mine, is ending after workers decided to invoke a rarely used legal provision that allows them to extend their old contract. China may swing to net exporter of refined copper in coming years as imports fall on higher local supply and increasing overseas sales. Lead can trade in the range of 147-160. Nickel can move in the range of 635-675. Nickel may also see pressure as the Philippines' environment agency has allowed eight suspended nickel ore miners to ship out stockpiles of mined ore .Aluminum prices may trade in the range of 121-130 in MCX. The price of aluminum traded on the LME is up 14 percent this year close to two-year highs amid the rising heat in the aluminum market with a industry bodies calling on the G20 to address global market imbalances resulting from China's burgeoning output. Zinc can move in the range of 178-191. China's zinc imports in February slumped down to 66% as compared last month. A 3-1/2-week strike at Noranda Income Fund's zinc processing facility in Quebec is showing no signs of ending, with no talks set between workers and management.
Turmeric futures (Apr) may witness a consolidation in the range of 6250-6650 levels. The gains owing to short covering & lower level buying may remain capped due to its own bearish fundamentals. At the spot markets, upcountry and local buyers are doing need-based buying. The buying-selling activities of the yellow spice on the spot markets are thin as supply is good against slow demand. In addition, the bulk buyers are sidelined in the anticipation of correction in prices ahead due to better production estimates this season. Jeera futures (Apr) is looking bullish & it has the potential to test 19000 levels amid lower production outlook and forecasts for good exports demand. The market participants are expecting good exports demand in coming months. Country exports an average of 15,000 tonnes of jeera during the months of March, April and May. This year exports of cumin are likely to cross 1.2 lakh tonnes against 94,352 tonnes exported a year ago. Coriander futures (Apr) may witness gain for the third consecutive week as it can head towards 7600-7700 levels, taking support near 7220 levels. At the spot markets, the coriander prices are rising due to better buying inquiries from local and upcountry buyers. At present, the supply of coriander is still not as per expectation as farmers and stockists are holding in the anticipation of more rise. Cardamom futures (Apr) may witness some correction ahead & can descend down towards 1300 levels. The North Indian buyers have slowed down anticipating the arrival of the next crop from mid-June after the growing regions have received good rains week before last. Consequently, the market has become bearish.
BASE METALS
-
11
TECHNICAL RECOMMENDATIONS
COMMODITY
ALUMINIUM MCX (MARCH) contract closed at `125.80 on 23rd Mar'17. The contract made its high of
`130.60 on 01st Mar'17 and a low of ̀ 115.30 on 29th Dec'16. The 18-day Exponential Moving Average of
the commodity is currently at ̀ 125.08.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 52. One can sell in the
range of ̀ 125.50-126 with the stop loss of ̀ 127.50 for a target of ̀ 122.
TURMERIC NCDEX (APRIL) contract closed at 6444 on 23rd Mar'17. The contract made its high of 7448
on 30th Sep'16 and a low of `6222 on 22nd Mar'17. The 18-day Exponential Moving Average of the
commodity is currently at ̀ 6537.6.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 42. One can buy in the
range of ̀ 6380-6330 with the stop loss of ̀ 6200 for a target of ̀ 6500.
` `
CORIANDER NCDEX (APRIL) contract closed at 7347 on 23rd Mar'17. The contract made its high of
`8490 on 09th Dec'16 and a low of ̀ 6410 on 28th Feb'17. The 18-day Exponential Moving Average of the
commodity is currently at ̀ 7027.4.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 45. One can buy in the
range of ̀ 7430-7380 with the stop loss of ̀ 7200 for a target of ̀ 7600.
`
ALUMINIUM MCX (MARCH)
TURMERIC NCDEX (APRIL)
CORIANDER NCDEX (APRIL)
NOTES : 1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name of Daily report- commodities (Morning Mantra).
2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the commodity. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.
EXCHANGE COMMODITY CONTRACT CLOSING DATE TREND TREND RATE TREND SUPPORT RESISTANCE CLOSING
PRICE CHANGED CHANGED STOP/LOSS
NCDEX SOYABEAN APR 2953.00 12.05.16 Down 4037.00 - 2970.00 3050.00
NCDEX JEERA APR 17905.00 23.03.17 Up 17905.00 17000.00 - 16500.00
NCDEX REF.SOY OIL APR 652.85 16.02.17 Down 670.55 - 660.00 665.00
NCDEX RM SEEDS APR 4008.00 23.03.17 Up 4008.00 3900.00 - 3950.00
MCX MENTHA OIL APR 978.20 23.03.17 Down 978.20 - 1050.00 1100.00
MCX CARDAMOM APR 1379.60 23.03.17 Sideways
MCX SILVER MAY 41300.00 16.02.17 Up 43010.00 40550.00 - 40500.00
MCX GOLD JUNE 28951.00 16.03.17 Sideways
MCX COPPER APR 383.85 22.09.16 Up 326.75 380.00 - 375.00
MCX LEAD APR 154.60 19.01.17 Up 155.80 150.00 - 148.00
MCX ZINC APR 184.25 09.03.17 Down 178.95 - 187.00 198.00
MCX NICKEL APR 661.20 16.03.17 Sideways
MCX ALUMINIUM APR 125.90 10.11.16 Up 118.50 123.00 - 122.00
MCX CRUDE OIL APR 3143.00 09.03.17 Down 3324.00 - 3300.00 3350.00
MCX NATURAL GAS APR 197.60 09.02.17 Down 209.20 - 200.00 205.00
TREND SHEET
*Closing as on 23.03.17
-
COMMODITY
NEWS DIGEST
Overall CRB moved down last week. The US Dollar edged lower against most of its major
counterparts and Treasury bond yields declined as the priced-in Fed rate hike path continued
to flatten. Gold prices jumped on strong global cues and increased buying by jewellers.
Globally, gold prices rose to a three-week high as risk- averse investors dumped equities amid a
weaker dollar and sought safe havens on growing doubts about US President Donald Trump's
economic agenda. Silver prices strengthened too. Silver outperformed gold last year and
continued to do so. In this calendar year so far, silver prices have gained by around 9.38% in the
international markets and 2.69% in the domestic markets—higher than the 7.39% and 2% surge
seen in the yellow metal, respectively. Oil prices recouped much of their losses after sliding to
almost four-month lows on Wednesday after data showed U.S. crude inventories rising faster
than expected, piling pressure on OPEC to extend output cuts beyond June. The Energy
Information Administration (EIA) said U.S. inventories climbed almost 5 million barrels to
533.1 million last to last week, far outpacing forecasts of a 2.8 million-barrel build. In base
metals, lead moved up on flood issue.
India wheat futures gained fifth straight session on Thursday due to report of duty hike on
imported wheat supported by lower than expected supply of new crop. Additionally, supply of
wheat has not yet gathered momentum as was anticipated due to adverse weather in few
states followed by farmers doing registrations with FCI to sell their produce. Indian edible oil
and oil seeds futures gained on robust buying interest at local bourse. Soybean seed was mainly
supported by buying interest coupled with improving domestic demand of soymeal from
poultry feed manufacturer. Mustard futures were mostly up on account of buying interest by
traders and improving demand for mustard by-product is also supporting the market
sentiment. Guar traded mix, guarseed closed up whereas guargum was down on profitbooking
at the higher levels. Supplies were sufficient to cater domestic demand of sugar and hence
futures traded weak. Cotton prices moved down on ample of supply. China State Reserve sold
71% at 10,900 tonnes out of the total quantity at 15,461 tonnes of cotton reserved in the first
section of its auction on March 23.
WEEKLY COMMENTARY
COMMODITY UNIT 23.03.17 DIFFERENCEQTY. QTY.
CASTOR SEED MT 60714.00 71442.00 10728.00CORIANDER NEW MT 30.00 1404.00 1374.00COTTON 29 MM BALES 100.00 0.00 -100.00COTTON SEED O.C MT 39322.00 41911.00 2589.00GUARGUM MT 32096.00 31802.00 -294.00GUARSEED MT 21450.00 20909.00 -541.00JEERA NEW MT 66.00 411.00 345.00RM SEED MT 0.00 783.00 783.00MAIZE MT 2404.00 2404.00 0.00SOYBEAN MT 206691.00 198086.00 -8605.00SUGAR MT 1898.00 1818.00 -80.00TURMERIC MT 617.00 1408.00 791.00WHEAT MT 1788.00 1371.00 -417.00
16.03.17 COMMODITY UNIT 23.03.17 DIFFERENCE
QTY. QTY.
CARDAMOM MT 12.10 13.50 1.40
COTTON BALES 23400.00 28300.00 4900.00
GOLD KGS 22.00 22.00 0.00
GOLD MINI KGS 6.40 6.40 0.00
GOLD GUINEA KGS 4.41 4.41 0.00
MENTHA OIL KGS 1126591.55 1060764.00 -65827.55
SILVER (30 KG Bar) KGS 33554.41 31292.63 -2261.78
15.03.17
∑Hong Kong's net gold exports to Switzerland hit their highest in February since records began five years
ago.
∑Greece hopes for a deal with its international lenders within the month of April and is working to
bridge differences on labor, pension and energy
reforms.
∑Libya's oil production has reached 700,000 barrels per day (bpd), recovering from a drop earlier this
month.
∑Brazilian group Votorantim has halted operations at its zinc smelter Cajamarquilla in Peru after floods
and mudslides disrupted transportation.
∑NCDEX will not be offering futures contract for Steel Long (BIS 2830) (Symbol: STEELLONG)
expiring in the months of August 2017 and
thereafter till further notice.
∑NCDEX has decided that sampling and testing of mustard offered for delivery will no longer be
mandatory.
∑The country's edible oil imports are likely to fall to 14 million tonnes in 2016-17 (Nov-Oct) due to
record high output of oilseeds. - Solvent Extractors'
Association of India
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
11.44%
2.90%
2.22%
1.18% 1.12%
-3.18% -3.17%-2.65% -2.55%
-2.27%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
CASTOR SEED LEAD NATURAL GAS GOLD GUINEA SILVER 1000 MENTHA OIL CRUDE OIL MINI NICKEL ZINC MINI BR. CRUDE OIL
7.98%
6.17%
5.36%4.81%
3.22%
-6.47%
-4.20%
-2.06% -1.85%-1.54%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
CASTOR SEED NEW JEERA BARLEY CORIANDER
RAPE MUSTARD SEEDS
CHILLI TEJA
GUARGUM 5MT
COTTON SEED OIL CAKE (AKOLA) COPPER
MAIZE KHARIF
-
COMMODITY
COMMODITY EXCHANGE CONTRACT 17 23.03.17 CHANGE%
ALUMINIUM LME 3 MONTHS 1914.00 1933.50 1.02
COPPER LME 3 MONTHS 5935.00 5825.00 -1.85
LEAD LME 3 MONTHS 2243.00 2367.00 5.53
NICKEL LME 3 MONTHS 10260.00 10030.00 -2.24
ZINC LME 3 MONTHS 2882.00 2814.00 -2.36
GOLD COMEX APR 1230.20 1247.20 1.38
SILVER COMEX MAY 17.41 17.59 1.03
LIGHT CRUDE OIL NYMEX APR 48.78 47.70 -2.21
NATURAL GAS NYMEX APR 2.95 3.05 3.49
.03.17
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
16.03.17 23.03.17
ALUMINIUM 2019325 1964600 -54725
COPPER 340525 323975 -16550
NICKEL 386400 381714 -4686
LEAD 190550 190200 -350
ZINC 379275 378150 -1125
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 17.03.17 23.03.17 CHANGE(%)
Soybean CBOT MAY Cent per Bushel 1000.00 991.00 -0.90
Soy oil CBOT MAY Cent per Pound 32.30 33.22 2.85
CPO BMD MAY MYR per MT 2803.00 2771.00 -1.14
Sugar LIFFE MAY 10 cents per MT 509.50 498.80 -2.10
13
SPOT PRICES (% change) Lead…………healthy demand from the battery and auto industry
Lead is majorly used in car batteries, mobiles and e-bikes. Car batteries account for around 85% of global lead demand. Lead prices have headed northwards over the past year. In LME prices have moved up 25-35 per cent from $1,700-$1,800 a tonne a year ago, to $2,200-$2,300 a tonne at present. In MCX, prices are presently hovering around ̀ 150-160 a kg as compared with 110-120 a kg a year ago.Global production of leadInternational Lead and Zinc Study Group (ILZSG) forecasted that global lead mine production is expected to decline by 61000 tonnes in 2016 to 4704000 tonnes from 4765000 tonne in 2015. World refined lead metal production rose by 2.4%. This was mainly the result of an increase in output in the Republic of Korea largely influenced by Korea Zinc's commissioning of a new primary lead plant in Onsan in November 2015. Output was also higher in Australia, Kazakhstan and the United States. Production of refined lead metal from secondary (recycled) raw material accounted for 58.1% of global output compared to 57.8% in 2015. There was a sharp decrease in Australian lead mine output mainly as a consequence of the closure of the Century mine in 2015 and cutbacks in output at some Glencore operations. Production was also lower in India and Mexico. However, these reductions were partially balanced by a rise in China resulting in an overall global decline of 1.3%.Global lead consumptionThe International Lead and Zinc Study Group (ILZSG) has estimated that global usage of refined lead metal rose by 2.0% to 11.08 million tonnes in 2016 from 10.86 million tonnes in 2015 . European demand for refined lead metal increased by a robust 8.7% driven mainly by rises in the Czech Republic, Italy, Poland, the Russian Federation and the United Kingdom. In the United States, usage rose by 3.6%. However, in China there was a decline in apparent demand of 1.5%. Chinese imports of lead contained in lead concentrates in 2016 fell by 26.3% compared to 2015 and amounted to 758000 ton.
`
-4.08
-1.85
-1.55
-0.73
-0.69
-0.36
-0.20
-0.03
0.54
1.04
1.33
1.91
2.94
3.08
5.60
6.01
-6.00 -4.00 -2.00 0.00 2.00 4.00 6.00 8.00
TURMERIC (NIZAMABAD)
GUAR GUM (JODHPUR)
PEPPER MALABAR GAR (KOCHI)
RAW JUTE (KOLKATA)
CRUDE PALM OIL (KANDLA)
COTTON SEED OIL CAKE (AKOLA)
SUGAR (KOLKATA)
GUAR SEED (JODHPUR)
WHEAT (DELHI)
COTTON (KADI)
SOYABEAN (INDORE)
BARLEY (JAIPUR)
GUR (MUZAFFARNGR.)
JEERA (UNJHA)
MUSTARD (JAIPUR)
CORIANDER (KOTA)
OutlookOne of the reasons for the price rise of lead was the higher-than-expected increase in demand for lead in 2016 (over 2015) across Europe and the US. Lead prices also found support from US President Donald Trump's push for infrastructure development to accelerate economic growth and employment. In China, strong growth in vehicle production and sales is expected to continue to balance declining demand for lead-acid batteries in the e-bike sector, which have been replaced by lithium-ion batteries. It is anticipated that Chinese lead usage will rise 1.1 per cent in 2017. Demand in Europe and the US is expected to continue rising as well.Refined lead usage in India grew 5.6 per cent in 2016, next only to Europe and the US. With benign borrowing costs and more income in the hands of both urban and rural consumers, domestic automobile sales will likely look up further this year. However, global production is also expected to increase adequately to meet the rising demand, with the ILZSG estimating a global surplus of 23,000 tonnes for refined lead in 2017.
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CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 65.47 65.62 65.27 65.56
EUR/INR 70.49 70.84 70.36 70.79
GBP/INR 81.14 82.10 80.75 82.04
JPY/INR 58.17 59.08 57.90 59.07
News Flows of last week
21st Mar UK Inflation overshoot 2% Target
22nd Mar China Leading Index rose at faster rate in February
22nd Mar India Leading Index climbed for third month
23rd Mar UK Retail Sales rose for first time in 4 Months
23rd Mar U.S. Weekly Jobless claimed unexpectedly climb to 258,000
23rd Mar Japan Manufacturing PMI fell to 52.6 in March - Nikkei
EUR/INR (APR) contract closed at 71.17 on 23rd March'17. The contract made its high of 71.22 on 22nd March'17 and a low of 70.82 on 20th March'17 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at 71.07.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 47.07. One can sell below 70.80 for a target of 70.00 with the stop loss of 71.20.
(Source: Spider Software, Open: Tuesday 9.00 AM IST, Close: Thursday (5.00 PM IST)
Market Stance
Indian rupee started the week with a positive note and took a sharp rally as
against dollar to test 17 month high on the back of increased selling of the
American currency by exporters and banks. A weak dollar in overseas markets
largely supported the up move despite a sell-off in local stocks. Meanwhile
gains were seen pared while market move towards the end of the week as
some fresh demand for dollar on lower levels from importers was seen.
Meanwhile, the greenback remained under pressure on growing uncertainty
over the path of US monetary policy and traded below 100 mark against basket
of currencies. The U.S. currency has struggled this week as growing doubts
over Trump's ability to push through with economic and tax policies triggered
broad risk aversion and buffeted equities.
EUR/INR
USD/INR (APR) contract closed at 65.79 on 23rd March'17. The contract made its high of 65.84 on 22ndMarch'17 and a low of 65.52 on 21st March'17 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at 66.23
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 26.12. One can sell below 65.60 for the target of 64.80 with the stop loss of 66.00.
GBP/INR (APR) contract closed at 82.36 on 23rd March'17. The contract made its high of 82.37 on 23rd March'17 and a low of 81.16 on 21st March'17 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at 82.32.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 44.56. One can sell below 82.00 for a target of 81.00 with the stop loss of 82.50.
JPY/INR (APR) contract closed at 59.29 on 23rdMarch'17. The contract made its high of 59.29 on 23rd March'17 and a low of 59.08 on 22nd March'17 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at 59.15.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 48.68. One can sell below 59.00 for a target of 58.00 with the stop loss of 59.50.
USD/INRTechnical Recommendation
Economic gauge for the next week
Date Currency Event Previous
28th Mar USD Consumer Confidence 114.829th Mar USD Pending Home Sales (YoY) 0.429th Mar USD Pending Home Sales (MoM) -2.830th Mar EUR Business Climate 0.8230th Mar EUR Consumer Confidence 530th Mar USD Initial Jobless Claims 25830th Mar USD Gross Domestic Product Price Index 230th Mar USD Personal Consumption Expenditures Prices (QoQ) 1.930th Mar GBP Gfk Consumer Confidence -631st Mar GBP Gross Domestic Product (YoY) 231st Mar GBP Gross Domestic Product (QoQ) 0.731st Mar EUR Consumer Price Index (YoY) 231st Mar EUR Consumer Price Index - Core (YoY) 0.931st Mar USD Personal Income (MoM) 0.431st Mar USD Personal Spending 0.2
GBP/INR JPY/INR
14
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IPO
IPO NEWS
CL Educate IPO subscribed 1.86 times on final day
Gaja Capital-backed CL Educate Ltd, which runs test-preparation brand Career Launcher, saw its initial public offering (IPO) sail through on the final day on
Wednesday driven by institutional and retail investors. While institutional investors led subscription activity on the first two days, retail individuals lapped up
the stock on the final day of the IPO. The public offering of nearly 3.33 million shares—excluding anchor investors’ portion—received bids for 6.22 million shares
by the end of the final day. The IPO was subscribed 1.86 times, stock-exchange data showed. Institutional buyers’ quota was subscribed nearly four times the
shares reserved for them, while the retail investors’ portion was covered 1.56 times. The quota of shares set aside for non-institutional investors, such as
corporate houses and wealthy individuals, was covered just 21%. New Delhi-based CL Educate is the first education services company from India to float an IPO in
five years, after MT Educare Ltd in March 2012. The IPO was covered 36% on the first day. CL Educate was seeking a valuation of Rs 708.84 crore ($107.11 million)
through the IPO, which will see Gaja Capital, the company’s promoter, promoter group individuals and institutional shareholders dilute their stakes. The Rs
238.95-crore IPO comprised a fresh issue of 2.18 million shares and an offer for sale of nearly 2.58 million shares. It will see a dilution of 33.61% stake on a post-
offer basis.
Hudco gets Sebi approval to float IPO
State-run Hudco has received capital markets regulator Sebi’s approval to raise funds through an initial share sale as part of the government’s disinvestment
drive. Hudco had filed draft papers with the Securities and Exchange Board of India (Sebi) in January and got the markets watchdog’s “observation” on March 10,
which is necessary for any company to launch public offer. The initial public offer will comprise sale of 200,190,000 equity — 10 per cent stake — by the central
government through an offer for sale (OFS) route, as per the Draft Red Herring Prospectus (DRHP). A discount of up to 5 per cent on the issue price would be given
to retail investors and Hudco employees.The paid up capital of Housing and Urban Development Corporation (Hudco) is Rs 2,001.90 crore as on March, 2016. The
government holds 100 per cent stake in the company. IDBI Capital, Nomura Financial Advisory and Securities, SBI Capital Markets and ICICI Securities will manage
the company’s public issue.
Gitanjali Gems arm Nakshatra World files IPO papers with SEBI
Nakshatra World, a subsidiary of Gitanjali Gems, has filed its draft red herring prospectus (DRHP) with the capital market regulator for initial public offering. In a
notification to the exchanges on Friday, the company informed about the filing of the prospectus to the Securities and Exchange Board of India (SEBI) as well as
both the exchanges. The company had in December 2016 outlined its plan to raise close to Rs 650 crore, subject to regulatory approvals. The board of directors of
the company had also approved the proposal of public offering of equity shares of Nakshatra World and dilution of its stake consequent to initial public offer.
Nakshatra World is a firm in the organised jewellery and luxury space in India. According to the company's website, it claims to have focus on manufacture and
distribution of branded studded jewellery, gold jewellery and other jewellery products in India and overseas. It has eight manufacturing facilities that are
located in Mumbai, Jaipur, Surat and Hyderabad. Additionally, the distribution network is spread across 290 cities and towns in India, with more than 2,000 POS
across distributors, shop-in-shops and stores.
Hospitality firm Four Seasons withdraws IPO plan
Hospitality firm Four Seasons Residency Ltd has withdrawn its plan to launch an initial public offering, after filing the draft papers with markets regulator Sebi a
month back. The proposed public issue comprised sale of fresh issue of up to 1 crore equity shares of the company. This works out to 39 percent of the total
holding, draft red herring prospectus (DRHP) filed with Sebi showed. The Ahmedabad-based company had filed draft papers with Securities and Exchange Board
of India (Sebi) on February 22, this year. Funds raised through the initial public offer (IPO) was proposed to have been used for capital expenditure to set up a
hotel and for other general corporate purposes. The firm is in the process of setting up a hotel -- The Westin Gandhinagar -- in Gujarat comprising 230 guest
rooms, according to the draft prospectus. In March 2016, Four Seasons Residency had entered into an agreement with Starwood Hotels and Resorts India Pvt Ltd
and its affiliates relating to the supervision, direction and control of the operation of the hotel under the 'Westin' brand. Chartered Capital and Investment
Limited was managing the company's public issue. The equity shares of the firm were proposed to be listed on the BSE and NSE.
*Closing price as on 23-03-2017
Company Sector M.Cap(In RsCr.) Issue Size (in RsCr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)
Avenue Supermart Retail 39576.32 1870.00 21-Mar-17 299.00 604.40 634.15 112.09
Music Broadcast Media 2038.57 488.53 17-Mar-17 333.00 420.00 357.30 7.30
BSE Limited Finance 5032.87 1243.00 3-Feb-17 806.00 1085.00 937.60 16.33
Laurus Lab Pharma 5415.78 300.00 19-Dec-16 428.00 490.00 512.10 19.65
Sheela Foam Ltd Textiles 5289.28 510.00 9-Dec-16 730.00 1008.00 1084.00 48.49
Varun Beverages FMCG 6881.49 1100.00 8-Nov-16 445.00 430.00 377.25 -15.22
PNB Housing Housing Finance 18276.97 3000.00 7-Nov-16 775.00 863.00 1103.40 42.37
Endurance Tech Auto Ancillary 10368.96 1162.00 19-Oct-16 472.00 570.00 737.15 56.18
HPL Electric Capital Goods 665.83 361.00 4-Oct-16 202.00 190.05 103.55 -48.74
*
IPO TRACKER
15
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16
FIXED DEPOSIT MONITOR
• Interest structure may be revised by company from time to time. Pls confirm Interest rates before submitting the application.
* For Application Greater Than Rs. Fifty Lakhs Or equal to Fifty Lakhs, Please Contact to Head Office.
* Email us at [email protected]
FIXED DEPOSIT COMPANIES
PERIOD MIN.ADDITIONAL RATE OF INTEREST (%)
S.NO (NBFC COMPANY -NAME)12M 18M 24M 36M 45M 48M 60M 84M INVESTMENT
-1 BAJAJ FINANCE LTD.(UPTO RS. 5 CR.) 7.80 7.80 8.00 8.05 - 8.05 8.05 0.25% FOR SR. CITIZEN, 0.10% FOR DELHI NCR &
EXISTING LOAN CUSTOMER AND ON RENEWAL MUMBAI-75000,
UPTO RS. 1CRORE OTHER-50000/--
2 DEWAN HOUSING FINANCE CORPORATION LTD 13M=7.80% 14M=7.80% 18M=7.85% 13M=50000; 40M=7.90%0.25% EXTRA FOR SR. CITIZEN,WIDOW,
14M=10000; ARMED, PERSONNEL, EXISTING DHFL HOME
BORROWERS, 0.25% EXTRA FOR DEPOSIT
50 LAC AND ABOVE
3 DEWAN HOUSING FINANCE CORPORATION LTD (AASHRAY) 7.75 - 7.80 7.85 - 8.00 - 8.00 10,000/-
4 GRUH FINANCE LTD. 7.25 13M=7.25 7.50 7.50 - 7.50 7.50 7.50 96-120M=8.00%; 0.25% FOR FEMALE, 1000/-
SR. CITIZEN & TRUST
5 HDFC PREMIUM DEPOSIT FOR INDIVIUAL (UPTO RS. 2 CR.) 15M=7.50 22M=7.55 30M=7.50 44M=7.55 0.25% FOR SR. CITIZEN UPTO RS. 1 CR.
20000/-, 40000/-
- -6 20M=7.40 40M=7.40 - - - IN MONTHLY
7 HDFC LTD FOR INDIVIDUAL & TRUST (UPTO RS.5 CR.) 7.40 - 7.40 7.40 - 7.40 7.40 - 0.25% FOR SR. CITIZEN UPTO RS. 1 CR.
8 HUDCO LTD.(IND & HUF) 7.00 - 7.00 7.00 - 6.75 6.75 6.75 0.25% FOR SR. CITIZEN 10000/-
9 HUDCO LTD.(TRUST/CO/INSTITUTION) 6.75 - 6.75 6.75 - 6.50 6.50 6.50 - 10000/-
10 J K Lakshmi Cement Ltd. 8.50 8.75 9.00 25000/-
11 J K Tyre & Industies Ltd. 8.50 8.75 9.00 25000/-
12 KTDFC (Kerela Transport) 8.50 - 8.50 8.50 - 8.25 8.25 - 0.25% extra for Sr. Citizen, 10000/-
13 LIC HOUSING FINANCE LTD.(UPTO RS. 5 CR.) till 24 Jan'17 7.30 7.35 7.50 7.50 - - 7.50 - 10000/-
15 M&M FINANCIAL SERVICES LTD (FOR BELOW RS. 1 CRORE) 7.50 7.50 7.50 7.55 - 7.55 7.55 - 0.25% FOR SR. CITIZEN 10000/-
16 Omaxe Ltd. 11.50 - 12.00 12.50 - - - - - 50000/-
17 PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.) 7.25 - 7.25 7.25 - 7.25 7.25 7.25 0.25% EXTRA FOR SR. CITIZEN UPTO RS.1 CRORE20000/-
18 PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.) 15M=7.35 22M=7.40 44M=7.40 0.25% FOR SR. CITIZEN30M=7.35
19 SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME 7.75 - 7.85 8.00 - 8.15 8.25 - 0.25% FOR SR. CITIZEN 5000/-
20 SHRIRAM CITY UNION SCHEME 7.75 - 7.85 8.00 - 8.15 8.25 - 0.25% FOR SR. CITIZEN 5000/
(FOR TRUST ONLY) (FOR WOMEN ONLY)
0.50% add. interest to sr. citizen ,
employees,shareholders and person
investing Rs. 5 lacs and above - max. 0.50%
0.25% FOR SR.CITIZEN IF APP ABOVE
RS. 50,000/- APP UPTO RS. 50,000/- &
0.10% IF APP upto Rs. 50,000/-
HDFC PREMIUM DEPOSIT FOR TRUST & INSTITUTION
(UPTO RS. 10 CR.)
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MUTUAL FUND
INDUSTRY & FUND UPDATE
Reliance Mutual Fund introduces Fixed Horizon Fund XXXIII-Series 5
Reliance Mutual Fund has launched the Reliance Fixed Horizon Fund XXXIII-Series 5, a close ended income scheme. The NFO opens for subscription on March 17, 2017 and closes on March 27, 2017. The investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of the following securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility of Central and State Government securities and other fixed income/ debt securities.
UTI Mutual Fund files offers document for Dual Advantage Fixed Term Fund - Series V
UTI Mutual Fund has filed offer document with SEBI to launch a close-ended hybrid scheme as “UTI-Dual Advantage Fixed Term Fund - Series V”. The New Fund Offer price is Rs 10 per unit. The investment objective of the Scheme is to generate income and reduce interest rate volatility by investing in fixed income securities that are maturing on or before the date of maturity of the Scheme and generate capital appreciation by investing in equity and equity related instruments.
UTI Mutual Fund files offers document for Fixed Investment Plan
UTI Mutual Fund has filed offer document with SEBI to launch an open ended income scheme as “UTI - Fixed Investment Plan”. The New Fund Offer price is Rs 10 per unit. The investment objective of the scheme is to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of short term debt & money market securities.
ICICI Pru Mutual Fund introduces Capital Protection Oriented Fund-Series XI-Plan E 1222 Days
ICICI Prudential Mutual Fund has launched the ICICI Prudential Capital Protection Oriented Fund-Series XI-Plan E 1222 Days, a close ended income scheme. The NFO opens for subscription on March 15, 2017 and closes on March 27, 2017. The investment objective of the scheme is to protect capital by investing a portion of the portfolio in highest rated debt securities & money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The debt securities would mature on or before the maturity of the Scheme.
ICICI Prudential AMC announces winding up of Interval Fund VI - Annual Interval Plan A
ICICI Prudential Asset Management Company has announced that pursuant to SEBI Circular No. SEBI/IMD/CIR No. 10/22701/03 dated December 12, 2003, and any amendments thereof, ICICI Prudential Interval Fund VI - Annual Interval Plan A, a debt oriented interval scheme of ICICI Prudential Mutual Fund, including plans/options thereunder, has been wound -up with effect from March 16, 2017 on account of not meeting the requirement of minimum number of investors.
IDFC Mutual Fund introduces Fixed Term Plan Series-131 (1139 Days)
IDFC Mutual Fund has launched the IDFC Fixed Term Plan Series-131 (1139 Days), a close ended income scheme. The NFO opens for subscription on March 23, 2017 and closes on March 29, 2017. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the Scheme.
Motilal Oswal MF touches AUM of Rs 8000 crore
Assets under Management (AUM) of Motilal Oswal Mutual Fund has increased from Rs 4700 crore in February 2016 to Rs 8000 crore in February 2017, a growth of nearly 70% growth in a year. Combined with PMS and AIF, the fund house has touched close to Rs 18,000 crore AUM in February. While PMS contribute Rs 9500 crore in the overall AUM, AIF accounts for Rs 444 crore as on February 2017.
NEW FUND OFFER
Scheme Name IDFC Fixed Term Plan - Series 89 - Regular Plan (G)
Fund Type Close-Ended
Fund Class Growth
Opens on 20-Mar-2014
Closes on 28-Mar-2017
Investment Objective To seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the
maturity of the scheme.
Min. Investment Rs. 10000
Fund Manager Harshal Joshi
Scheme Name SBI Long Term Advantage Fund - Series IV- Regular Plan (G)
Fund Type Close-Ended
Fund Class Growth
Opens on 30-Dec-2016
Closes on 29-Mar-2017
Investment Objective To generate capital appreciation over a period of ten years by investing predominantly in equity & equity related instruments of
companies along with income tax benefit.
Min. Investment Rs. 500
Fund Manager Dharmendra Grover
17
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Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 23/03/2017Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
MUTUAL FUND Performance Charts
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Motilal Oswal MOSt Focused Long Term F - Reg - G 14.59 21-Jan-2015 207.49 18.94 10.37 38.41 N.A 19.00 2.18 0.86 0.22 65.09 33.33 N.A 1.58
Mirae Asset Tax Saver Fund - Reg - G 13.22 28-Dec-2015 140.36 17.03 8.78 37.01 N.A 25.32 2.16 0.94 0.21 59.75 31.03 2.90 6.32
Principal Tax Savings Fund 172.26 31-Mar-1996 277.86 17.28 4.60 31.19 21.92 16.79 2.43 1.04 0.15 53.67 40.27 2.69 3.36
HDFC Taxsaver - Growth 456.36 13-Jun-1996 5266.20 14.17 7.80 29.83 19.69 27.23 2.44 1.03 0.08 70.92 20.98 2.32 5.78
DSP BlackRock Tax Saver Fund - Growth 40.04 18-Jan-2007 1461.32 14.17 4.12 29.05 24.22 14.59 2.13 0.90 0.15 71.55 20.01 3.90 4.54
Kotak Taxsaver - Reg - Growth 36.75 23-Nov-2005 499.05 16.60 5.81 27.97 23.07 12.17 2.16 0.94 0.09 64.71 32.80 1.21 1.28
HSBC Tax Saver Equity Fund - Growth 32.36 05-Jan-2007 170.24 18.84 6.47 27.95 19.92 12.18 2.25 0.97 0.11 58.37 29.75 11.03 0.84
TAX (Diversified) Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
SBI Magnum COMMA Fund - Growth 34.00 08-Aug-2005 238.47 14.49 12.82 48.42 22.32 11.10 2.46 0.92 0.26 63.10 20.56 9.25 7.09
L&T Emerging Businesses Fund - Reg - G 20.25 12-May-2014 366.27 18.87 11.82 45.28 N.A 27.92 2.38 0.86 0.27 N.A 64.42 24.42 11.16
Tata Equity P/E Fund - Reg - Growth 114.61 29-Jun-2004 673.56 15.81 10.10 41.77 28.87 21.10 2.26 0.92 0.18 47.17 41.81 5.80 5.21
Birla Sun Life Small & Midcap Fund - G 33.61 31-May-2007 373.57 20.36 7.01 41.01 32.86 13.14 2.39 0.91 0.27 2.10 74.59 13.07 10.24
Sundaram Rural India Fund - Reg - G 36.06 12-May-2006 533.08 15.26 4.78 40.39 27.42 12.52 2.20 0.89 0.28 40.52 43.10 9.50 6.87
Mirae Asset Emerging Bluechip Fund - G 41.45 09-Jul-2010 2906.88 18.96 9.67 40.03 35.67 23.61 2.21 0.90 0.26 34.52 58.93 2.20 4.34
L&T Midcap Fund - Reg - Growth 113.73 09-Aug-2004 514.89 16.72 10.26 38.31 33.88 21.23 2.18 0.79 0.20 18.60 55.32 12.42 13.66
EQUITY (Diversified) Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns
Annualised
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch QAAUM Since Std. SharpeMaturity (Years) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
UTI Dynamic Bond Fund - Reg - Growth 19.06 23-Jun-2010 1198.74 33.89 23.93 13.08 10.53 14.25 11.57 10.03 28.59 0.09 4.03 7.36
SBI Dynamic Bond Fund - Growth 20.51 09-Feb-2004 2981.07 34.63 20.24 8.52 9.52 13.66 10.83 5.62 27.18 0.08 4.50 6.42
UTI Bond Fund - Growth 49.62 04-May-1998 2289.32 34.05 24.54 12.79 8.96 13.20 11.41 8.85 28.74 0.05 4.09 7.43
ICICI Prudential LTP - Growth 20.23 20-Jan-2010 1716.18 39.03 34.56 14.25 7.51 13.08 13.03 10.32 32.90 0.07 11.91 7.77
IDFC D B F - Reg - Growth (Re-Launched) 20.00 03-Dec-2008 5029.59 37.94 27.90 14.52 9.64 12.74 11.19 8.70 29.11 0.05 2.65 6.70
IDFC SSIF - Invt Plan - Reg - Growth 40.13 14-Jul-2000 1850.94 37.23 27.69 14.04 9.31 12.46 10.94 8.68 29.13 0.04 2.83 6.71
Canara Robeco Dynamic Bond F - Reg - G 18.78 29-May-2009 239.14 26.26 18.78 9.20 7.98 12.42 11.07 8.39 29.56 0.06 4.16 6.59
INCOME FUND
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Years) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Franklin India STIP - Growth 3376.89 31-Jan-2002 7963.59 11.73 11.39 6.97 9.56 11.20 9.63 8.36 13.29 0.09 1.82 10.40
L&T Short Term Income Fund - Reg - G 17.35 04-Dec-2010 477.15 10.24 10.62 6.99 9.28 10.17 9.65 9.13 7.01 0.31 1.64 8.68
Baroda Pioneer Short Term Bond Fund - G 17.22 30-Jun-2010 420.66 11.99 10.55 7.89 8.86 10.10 9.38 8.41 5.18 0.34 1.14 7.98
HDFC Short Term Plan - Growth 32.34 28-Feb-2002 3777.47 11.18 9.56 5.67 8.15 9.68 10.01 8.10 7.09 0.29 1.73 8.35
Kotak Income Opportunities Fund - Reg - G 17.88 11-May-2010 2905.60 17.14 14.96 7.37 7.90 10.02 9.95 8.83 9.57 0.22 2.78 8.48
DHFL Pramerica Short Maturity Fund - G 29.69 21-Jan-2003 1594.76 13.22 12.48 5.94 7.74 9.60 9.48 7.98 8.72 0.16 2.98 8.45
UTI Short Term Income Fund - Ret - G 28.77 23-Jun-2003 9951.70 13.21 10.54 5.59 7.60 9.47 9.28 7.98 10.80 0.11 1.45 7.46
SHORT TERM FUND Due to their inherent short term nature, Short term funds have been sorted on the basis of 6month returns
Annualised
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
HDFC Prudence Fund - Growth 447.20 01-Feb-1994 14228.00 10.02 5.86 26.99 20.26 19.18 2.06 0.10 48.52 16.75 8.16 26.56
ICICI Prudential Balanced - Growth 112.91 03-Nov-1999 4394.87 9.71 5.46 26.23 20.34 14.95 1.63 0.11 53.26 14.34 0.95 31.45
UTI Balanced Fund - Growth 150.17 20-Jan-1995 1694.80 10.38 4.58 23.16 15.97 16.04 1.60 0.07 44.12 21.20 3.77 30.91
DSP BlackRock Balanced Fund - Growth 129.17 27-May-1999 2298.09 10.75 1.79 22.73 20.98 15.43 1.77 0.10 49.12 20.34 3.45 27.09
Mirae Asset Prudence Fund - Reg - G 11.87 29-Jul-2015 327.97 11.68 5.66 22.19 N.A 10.93 1.63 0.09 68.54 4.35 N.A 27.11
Kotak Balance - Growth 22.00 05-Nov-2014 531.57 10.45 3.88 22.14 N.A 9.56 1.60 0.10 35.96 25.45 4.03 34.56
HDFC Balanced Fund - Growth 128.88 11-Sep-2000 7930.16 9.77 4.62 22.09 21.03 16.71 1.59 0.08 40.02 22.61 1.93 35.45
BALANCED
18
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Mr S C Aggarwal (CMD, SMC Group) during 5th International Convention of CPAI (Commodities Participants Association of India)
held on 18th March at Hotel Le Meridien, New Delhi.
Women’s Day celebrations taking place at SMC’s Lucknow office.