32
Research Scorecard December 2017
Research Scorecard
December 2017
22
Strong service platform
Intensive Research
Dedicated team for fundamental, derivative
and technical research
Total 32 fundamental research analysts
covering 217 companies across sectors
Customised research solutions – for
investing or trading using cash, equities or
derivatives
Dedicated equity advisors to guide you on
the markets
Online and mobile platforms for trading
and account tracking
Online reporting systems for tracking
transactions, profitability, securities
position and cash movement
Institutional services offered to our HNI
clients
Block deals
VWAP trading
Compliance reporting and monitoring
services for employee accounts
Key pillars of our equity proposition
Institutional & Corporate Services
Offer innovative and unique products to
cater to every client’s need
Provide flexibility in product and
service features
Execution
Margins
Liquidity
Innovative & flexible products
33
Research Philosophy
44
Stock selection basis
Fundamentals
• Financials of the company
• Growth prospects of the industry and
company
• Quality of management
• Competitive landscape
Valuations
Stock price vis-à-vis:
Peers
Earnings quality
Intrinsic value
Momentum
Stock price movement vis-à-vis
market and historical averages
Transaction volume
Technicals
Chart based parameters
Moving average price
Trend reversals
Historical cycles
Patterns
55
Research catering to client needs
Short term
Trading
Medium term
Investing
Long term
Investing
Fundamentals
Intra – day
Trading
Momentum Technicals
High Low Absent
66
Research basket
Short term
Trading
Medium term
Investing
Long term
Investing
Intra – day
Trading
Three to five years perspective – Equity model portfolio
Twelve to 15 month perspective – Detailed company reports
Others – Muhurat Picks and Annual & Mid-Strategy Picks
Six months perspective
Techno Funda Picks, Gladiator Stocks
Seven to 30 days perspective
Monthly and Weekly Calls – Technical & Derivatives
Stocks on the Move, Positional Derivatives and Volatility Insight
One to three days perspective
Daily Calls – Technical, Momentum and Derivatives
Intra-day Calls – BTST, Margin and Derivatives
77
Research Performance – Long Term Investing
88
Overall Basket
• Coverage: 217 companies
• Target achieved: 156 companies (71.9% strike rate)
Detailed Company Coverage
Nano Nivesh & I-direct Instinct well accepted fundamental products
It is a regular pursuit of the Research team to identify new investment ideas for our valuable customers. The same
has been bought under coverage through detailed initiating reports, Nano Nivesh and I-direct Instinct formats
The Nano Nivesh product has been well accepted in the marketplace with a rich history of wealth generation for
investors. Average five day return is to the tune of ~12% while average return since inception for released reports
during April 2016 to December 2017 is ~90% with one stock turning into a multi-bagger viz. Phillips Carbon Black
In order to capture the tactical market opportunity in a time bound manner we introduced an abridged report format
namely I-direct Instinct, which clocked an average five day return of ~6% while average return since inception for
released reports is ~30%
58 9
4 4
002468
10
Returns
>300%
Returns
100%-300%
Returns of
20-100%
Returns of
0-20%
Return of
-25%-0%
Return of
-40%- -25%
Nano Nivesh Return Distribution Of the total 30 recommended Nano
stocks, there are 17 stocks where
I-direct was the first to
initiate/recommend in the market
I-direct Instinct performance
Idirect Instinct Initiation Date (T) Stock Price (T)
Stock Price
(T+5) Return (%) CMP Return (%)
Sterlite Technologies 21-Oct-16 110 108 -1.8 344 212.7
Kesoram Industries 9-Jan-17 138 145 5.1 158 14.5
Sandesh Ltd 17-Mar-17 911 975 7.0 1407 54.4
Oriental Hotel 23-Mar-17 36 37 2.8 45 25.0
Hester Biosciences 29-Mar-17 732 965 31.8 1802 146.2
Mangalam Drugs 19-Apr-17 154 210 36.4 212 37.7
Godrej Industries 10-Jul-17 660 662 0.3 614 -7.0
Morganite Crucible 11-Jul-17 1122 1200 7.0 1160 3.4
Shankara Building Products 11-Jul-17 1005 1022 1.7 1769 76.0
HUDCO 13-Jul-17 97 90 -7.2 84 -13.4
Zydus Wellness 13-Jul-17 894 889 -0.6 1039 16.2
Birla Corporation 13-Jul-17 919 940 2.3 1250 36.0
Cochin Shipyard 11-Sep-17 555 554 -0.2 542 -2.3
Zee Media Corp 19-Sep-17 35 37 5.7 48 37.1
Royal Orchid 19-Sep-17 130 133 2.3 200 53.8
TCI Express 12-Oct-17 510 579 13.5 615 20.6
Action Construction Equipemnt 14-Nov-17 95 126 32.6 156 64.2
NESCO 23-Nov-17 535 513 -4.1 566 5.8
Hawkins Cookers 24-Nov-17 2800 2809 0.3 3200 14.3
South Indian Bank 27-Nov-17 31.5 31.7 0.6 34 7.9
Titagarh Wagons 27-Nov-17 165 171 3.6 173 4.8
Manglore Chemical 28-Nov-17 72 78 8.3 81 12.5
Sundaram Finance 6-Dec-17 1870 1878 0.4 1883 0.7
Liberty Shoes 18-Dec-17 250 249 -0.4 263 5.2
Sanofi India 18-Dec-17 4581 4656 1.6 4660 1.7
Merck ltd 19-Dec-17 1200 1315 9.6 1345 12.1
Abbott India 19-Dec-17 5389 5431 0.8 5360 -0.5
Pfizer Ltd 19-Dec-17 2000 2049 2.5 2038 1.9
Idirect Instinct Recommendations (from April 2016 to December 2017)
1111
Equity Model Portfolio (rejigged on August 28, 2017) – Large Cap
Earlier Now
Name of the company Weightage(%)
Auto 15.0
Tata Motor DVR 4.0
Bosch 3.0
Maruti 5.0
EICHER Motors 3.0
BFSI 32.0
HDFC Bank 8.0
Axis Bank 4.0
HDFC 8.0
Bajaj Finance 6.0
SBI 6.0
Capital Goods 4.0
L & T 4.0
Cement 4.0
UltraTech Cement 4.0
FMCG/Consumer 18.0
Dabur 5.0
Marico 4.0
Asian Paints 5.0
Nestle 4.0
IT 12.0
Infosys 6.0
TCS 6.0
Media 4.0
Zee Entertainment 4.0
Pharma 6.0
Lupin 6.0
Oil and Gas 5.0
GAIL Ltd. 5.0
Total 100.0
Name of the company Weightage(%)
Auto 16.0
Tata Motor DVR 4.0
Maruti 5.0
EICHER Motors 3.0
Mahindra & Mahindra (M&M) 4.0
BFSI 37.0
HDFC Bank 10.0
Axis Bank 6.0
HDFC 9.0
Bajaj Finance 6.0
SBI 6.0
Capital Goods 4.0
L & T 4.0
Cement 4.0
UltraTech Cement 4.0
FMCG/Consumer 18.0
Dabur 5.0
Marico 4.0
Asian Paints 5.0
Nestle 4.0
IT 6.0
TCS 6.0
Media 4.0
Zee Entertainment 4.0
Metals 6.0
Hindustan Zinc 6.0
Oil and Gas 5.0
GAIL Ltd. 5.0
Total 100.0
1212
Equity Model Portfolio (rejigged on August 28, 2017) – Midcap
Earlier Now
Name of the company Weightage(%)
Aviation 6.0
Interglobe Aviation 6.0
Auto 6.0
Bharat Forge 6.0
BFSI 12.0
Bajaj Finserve 6.0
J&K Bank 6.0
Capital Goods 6.0
Bharat Electronics 6.0
Cement 6.0
Ramco Cement 6.0
Consumer 30.0
Symphony 6.0
Supreme Ind 6.0
Kansai Nerolac 6.0
Pidilite 6.0
Rallis 6.0
Infrastructure 8.0
NBCC 8.0
Logistics 6.0
Container Corporation of India 6.0
Pharma 14.0
Natco Pharma 6.0
Biocon 8.0
Textile 6.0
Arvind 6.0
Total 100.0
Name of the company Weightage(%)
Auto 6.0
Bharat Forge 6.0
BFSI 20.0
Bajaj Finserve 8.0
J&K Bank 6.0
Indian Bank 6.0
Capital Goods 6.0
Bharat Electronics 6.0
Cement 6.0
Ramco Cement 6.0
Consumer 36.0
Symphony 6.0
Supreme Ind 6.0
Kansai Nerolac 6.0
Pidilite 6.0
Tata Chemicals 6.0
Bata 6.0
Metals 6.0
Graphite India 6.0
Infrastructure 8.0
NBCC 8.0
Logistics 6.0
Container Corporation of India 6.0
Textile 6.0
Arvind 6.0
Total 100.0
1313
Equity Model Portfolio (rejigged on August 28, 2017) – Diversified (1/2)
Earlier Now
# Indicative diversified portfolio has 70%
weightage to large cap and 30% to midcap
Name of the company Weightage(%)
Auto 12.3
Tata Motor DVR 2.8
Bosch 2.1
Maruti 3.5
Eicher Motors 2.1
Bharat Forge 1.8
Consumer Discretionary 16.1
Symphony 1.8
Supreme Ind 1.8
Kansai Nerolac 1.8
Pidilite 1.8
Asian Paints 3.5
Arvind 1.8
Interglobe Aviation 1.8
Rallis 1.8
BFSI 26.0
HDFC Bank 5.6
Axis Bank 2.8
SBI 4.2
HDFC 5.6
Bajaj Finance 4.2
Bajaj Finserve 1.8
J&K Bank 1.8
Power, Infrastructure & Cement 13.4
L & T 2.8
UltraTech Cement 2.8
Ramco Cement 1.8
NBCC 2.4
Bharat Electronics 1.8
Container Corporation of India 1.8
Name of the company Weightage(%)
Auto 13.0
Tata Motor DVR 2.8
Maruti 3.5
Eicher Motors 2.1
Bharat Forge 1.8
Mahindra & Mahindra (M&M) 2.8
Consumer Discretionary 16.1
Symphony 1.8
Supreme Ind 1.8
Kansai Nerolac 1.8
Pidilite 1.8
Asian Paints 3.5
Arvind 1.8
Tata Chemicals 1.8
Bata 1.8
BFSI 31.9
HDFC Bank 7.0
Axis Bank 4.2
SBI 4.2
HDFC 6.3
Bajaj Finance 4.2
Bajaj Finserve 2.4
J&K Bank 1.8
Indian Bank 1.8
Power, Infrastructure & Cement 13.4
L & T 2.8
UltraTech Cement 2.8
Ramco Cement 1.8
NBCC 2.4
Bharat Electronics 1.8
Container Corporation of India 1.8
1414
Equity Model Portfolio (rejigged on August 28, 2017) – Diversified (2/2)
Earlier Now
# Indicative diversified portfolio has 70%
weightage to large cap and 30% to midcap
Name of the company Weightage(%)
FMCG 9.1
Nestle 2.8
Marico 2.8
Dabur 3.5
Pharma 8.4
Lupin 4.2
Natco Pharma 1.8
Biocon 2.4
IT 8.4
Infosys 4.2
TCS 4.2
Media 2.8
Zee Entertainment 2.8
Oil and Gas 3.5
GAIL Ltd. 3.5
Total 100.0
Name of the company Weightage(%)
FMCG 9.1
Nestle 2.8
Marico 2.8
Dabur 3.5
Metals 6.0
Hindustan Zinc 4.2
Graphite India 1.8
IT 4.2
TCS 4.2
Media 2.8
Zee Entertainment 2.8
Oil and Gas 3.5
GAIL Ltd. 3.5
Total 100.0
1515
Equity Model Portfolio
Performance (return since inception)#
All three portfolios continue to outperform their respective benchmark indices, indicating that our
picks have been more consistent and stable vis-à-vis their respective indices on an average.
As on December 29, 2017
# includes the dividend yield
123.3
391.7
181.3
100.3
174.5
118.7
0
100
200
300
400
500
Large Cap Midcap Diversified
%
Portfolio Benchmark
1616
Value as on December 29, 2017
SIPs in all three portfolios (large cap, midcap and diversified portfolio) continue to outperform
their SIPs in the respective index
Assuming | 1,00,000 invested as SIP at the end of every month
Start date of SIP is June 30, 2011
SIP in Model Portfolio
8,0
00
,00
0
8,0
00
,00
0
8,0
00
,00
0
11
,91
1,6
27
24
,03
9,5
24
13
,92
1,5
01
10
,80
6,8
16
14
,31
0,6
92
12
,16
9,6
30
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
Largecap Midcap Divesified
|
Investment Value of Investment in Portfol io Value if invested in Benchmark
1717
Recommended on October 10, 2017
Muhurat Picks – Recommended in October, 2017
Company Reco price Target Price Status
HDFC 1745 2056 Open
Sagar Cements 820 1,025 Target Achieved
Ineos Styrolution 1,025 1,250 Open
NRB Bearing 128 160 Target Achieved
Mayur Uniquoters 394 450 Target Achieved
Prabhat Dairy 136 165 Target Achieved
MM Forgings 786 1,020 Target Achieved
1818
Recommended on January 1, 2018
Yearly Strategy picks – Fundamental
Company Reco Price Target Price Return (%) Status
Bajaj Electricals 489 575 18% Open*
Greenply Industries 355 425 Open
Gujarat Gas 843 1000 Open
Kalpataru Power 471 600 Open
KSB Pumps 867 1080 Open
Narayana Hrudayalaya 298 360 Open
Simplex Infrastructure 575 750 Open
South Indian Bank 31 40 Open
* Target price achieved and continue to hold the stock
19
Yearly Technical picks
Technical Recommendations 2018
• Recommendations: 7
• Open: 6
• Strike Rate : 100%
• Average return on positive calls : 20%
Stock Recommended Rec Price (|) Target (|) Stoploss (|) % Profit/Loss Comment
Bharti Airtel 515-530 668 445 Open
Axis Bank 530-555 638 485 Open
Punjab National Bank 160-175 230 138 Open
Tata Chemicals 710-740 878 634 Open
RCF 88-95 130 68 Open
EIH Ltd 145 220 125 19.0 Booked 50% profit at173.00
Brigade Enterprises 295-315 420 231 Open
Zee Media 37 54 31 21.0 Booked 50% profit at 44.80
20
Yearly Quant picks
Derivatives recommendations 2018
• Recommendations: 5
• Open: 5
Stock Recommended Rec Price (|) Target (|) Stoploss (|) Comment
Engineers India 184-191 245 161 Open
Havells 525-539 655 470 Open
Arvind 428-439 545 375 Open
Adani Ports 392-402 495 345 Open
GSFC 136-140 174 119 Open
2121
Research Performance – Medium Term Investing
2222
Gladiator Stocks
Performance (FY18)
Recommendations: 108
Open: 3
Exit at cost: 3
Strike Rate: 81%
Average return on positive calls: 19.0%
Average return on negative calls: -8.0%
As on Date Performance
Recommendations: 319
Open: 3
Exit at cost: 7
Strike Rate: 79%
Average return on positive calls: 19.0%
Average return on negative calls: -8.0%
2323
Research Performance – Short Term Trading
2424
Stock on the Move
Performance (FY18)
Recommendations : 72
Open: 1
Exit at Cost : 3
Strike rate: 75%
Average return on positive calls : 13%
Average return on negative calls : -6%
2525
Momentum Pick (Positional Recommendations)
December Performance
Recommendations : 10
Open: 0
Exit at cost: 0
No Trade: 0
Strike rate: 90%
Average return on positive calls: 8%
Average return on negative calls: -3%
Performance (FY18)
Recommendations : 140
Open: 0
Exit at cost: 15
No Trade: 15
Strike rate: 75%
Average return on positive calls : 9%
Average return on negative calls : -4%
26
December Performance
No. of Calls : 7
Profits Booked : 2
Open : 5
Strike rate : 100%
Average return on Calls: 9%
Quant Pick
YTD Performance (FY18)
Number of Calls recommended: 97
Positive payoff: 60
Open : 14
Exit in loss : 23
Strike rate: 73%
Average return on calls: 6.5%
27
December Performance
No. of Calls : 15
Profits Booked : 11
Open : 1
Exit in loss : 3
Strike rate : 79%
Average return on calls: | 8306
Derivatives Strategies
YTD Performance (FY18)
Number of strategies recommended: 291
Positive payoff: 277
Exit in loss : 78
Not Initiated : 4
Open : 5
Strike rate: 70%
Average return on Calls : | 5932
28
Currency Derivatives
December Performance
Recommendations: 46
Exit at cost : 5
Profits Booked : 29
Strike Rate: 71%
Performance (FY18)
Recommendations: 429
Strike Rate: 69%
2929
Research Performance – Intra Day Trading
3030
December Performance
Trading Calls
Strike rate of 64%
Trading Derivatives/Margin Calls
Total calls 349
Positive Payoff 221
Open 3
Strike rate 64%
31
Disclaimer
ANALYST CERTIFICATION
We /I, Pankaj Pandey, Research Analysts, authors and the names subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect our views about the
subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report.
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and other business relationship with a significant percentage of companies covered by our Investment Research Department. ICICI Securities generally prohibits its analysts, persons reporting to
analysts and their relatives from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover.
The information and opinions in this report have been prepared by ICICI Securities and are subject to change without any notice. The report and information contained herein is strictly confidential and
meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form,
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information current. Also, there may be regulatory, compliance or other reasons that may prevent ICICI Securities from doing so. Non-rated securities indicate that rating on a particular security has
been suspended temporarily and such suspension is in compliance with applicable regulations and/or ICICI Securities policies, in circumstances where ICICI Securities might be acting in an advisory
capacity to this company, or in certain other circumstances.
This report is based on information obtained from public sources and sources believed to be reliable, but no independent verification has been made nor is its accuracy or completeness guaranteed.
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investment objectives, financial positions and needs of specific recipient. This may not be taken in substitution for the exercise of independent judgment by any recipient. The recipient should
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ICICI Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have been mandated by the subject company for any other
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It is confirmed that Pankaj Pandey Research Analysts of this report have not received any compensation from the companies mentioned in the report in the preceding twelve months.
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