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WISE M NEY A Weekly Update from SMC (For private circulation only) NIFTY ALL SET TO TOUCH A RECORD HIGH 9,000 10,000 2017: Issue 571, Week: 20th - 23rd March Brand smc 395
WISE M NEYA Weekly Update from SMC
(For private circulation only)
NIFTY ALL SET TO TOUCHA RECORD HIGH
9,000
10,000
2017: Issue 571, Week: 20th - 23rd March
Bra
nd
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95
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(Saurabh Jain)
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tock markets globally kept up the momentum and posted gains in the week gone by.
Federal Reserve raised interest rates as expected without accelerating its timeline Sfor future tightening. The Fed raised its benchmark lending rate a quarter point and
continued to project two more increases this year. Policymakers said inflation should now
"stabilize" around 2% and they would continue to monitor developments relative to the
Fed's "symmetric" inflation goal. The Bank of Japan (BOJ) in the monetary policy review
meeting left policy unchanged sticking with its expansionary measures even though other
major central banks, including the Federal Reserve, are shifting away from years of
unusually aggressive stimulus.
Back at home, Indian equity markets registered a solid rally triggered by Bharatiya Janata
Party's (BJP) impressive show in the recently held assembly elections in five states.
Investors cheered the spectacular show by BJP in Uttar Pradesh, a politically crucial state.
The Goods & Services Tax (GST) Council reportedly paved the way for rolling out the new tax
regime from July, clearing all legislations required for one of the most ambitious reform
measures since Independence. The council, which met in the national capital, approved
the state GST (SGST) and the union territory GST (UTGST) bills. The bills will now have to be
cleared by Parliament and state assemblies. On the macroeconomic data front, exports
rose 17.48% at $24.49 billion in February 2017 over February 2016. Imports rose 21.76% to
$33.38 billion in February 2017 over February 2016.
On the commodity's front, after a steep fall of four week, finally CRB took support from
bullion and energy counter and closed the week on positive note. Fed opted for rate hike,
though it couldn't give much impact on the gold prices. Due to Holi festival, dull trade
witnessed in spot market. Bullion counter may trade higher owing to weaker greenback and
less hawkish stance by fed in last week FOMC meeting. Gold can face resistance of $1260 in
COMEX and 29200 in MCX while it has support near $1200 in COMEX and $28000 in MCX. .
Crude oil can trade in range of 3080-3300 in MCX. In base metals counter LME inventory
positions and supply concerns can to give further direction to the prices. CPI of UK, Reserve
Bank of New Zealand Rate Decision, Fed's Yellen Speaks at Community Development
Conference, CPI of Canada and Durable Goods Orders of US etc are few data's and events
which may guide commodities prices.
Contents
Equity 4-7
Derivatives 8-9
Commodity 10-13
Currency 14
IPO 16-17
Mutual Fund 18
FD Monitor 15
SMC GLOBAL SECURITIES LTD.
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NEWS
DOMESTIC NEWSEconomy• Indian Consumer prices in India increased 3.65 percent year-on-year in
February of 2017, following a record low rise of 3.17 percent in January. Food inflation accelerated to 2.01 percent from 0.53 percent.
• Indian wholesale prices rose 6.55 percent year-on-year in February of 2017, following a 5.25 percent gain in January while markets expected a 5.90 percent rise, driven by a surge in prices of food while cost of manufactured products and petrol rose further.
• The trade deficit in India widened to USD 8.9 billion in February of 2017 from a USD 6.5 billion gap a year earlier and slightly higher than market expectations of a USD 8.8 billion shortfall. Exports jumped 17.5 percent year-on-year to USD 24.5 billion, the biggest gain since October of 2011.
Oil & Gas• ONGC will invest over ̀ 21,500 crore to develop India's deepest gas discovery,
helping it more than double output from its prime KG basin block. ONGC had last year firmed up an investment of 34,012 crore (USD 5.076.37 billion) in bringing to production 10 oil and gas discoveries in its Bay of Bengal block.
Capital Goods • Bharat Heavy Electricals has commenced commercial operations of its first 800
MW - highest rating coal based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation, in Raichur district of Karnataka.
Engineering• McNally Bharat Engineering Company has received an order for Design,
Engineering, manufacturing, supply, commissioning and operation & maintenance of 500MW grid connected Solar PV power project including civil works in Andhra Pradesh on EPC Basis for Andhra Pradesh Power Generation Corporation for a value of 415.29 crore (approx).
Gems & Jwellery• Rajesh Exports has secured an order worth 783 crore for supply of designer
range of gold and diamond studded jewellery and medallions from UAE. The said order is to be completed by July 2017. With this current order, order book at consolidated level stands at 37241 crore which is to be executed by June 2017.
Realty• Godrej Properties announced that it will develop a 7.5 acre land parcel in
Bellary road (NH-7) in North Bangalore. Godrej Properties plans to develop a residential housing project of approximately 75000 square metres (800000 square feet).
Infrastructure• Larsen & Toubro's electrical and automation unit has bagged an order worth 500
crore Qatar Rail Company (QRAIL) for Phase 1 of Doha Metro. The order will be executed by L&T Electrical & Automation FZE (LTEAFZE), the competency centre for L&T Electrical & Automation's automation business in UAE.
Telecom• Reliance Communications has got the approval of capital markets regulator
Securities and Exchange Board of India and stock exchanges, BSE and National Stock Exchange (NSE), for the proposed demerger of its wireless operations into Aircel Ltd.
• Bharti Airtel has shelved plans to sell controlling stake in its mobile tower arm Bharti Infratel but has decided to monetise 21.63 per cent equity in the company.
INTERNATIONAL NEWS• The Federal Reserve raised the target range for its federal funds by 25 bps to
0.75 percent to 1 percent during its March 2017 meeting. Interest rate forecasts point to another two rate hikes this year, the same as in the December projection.
• Consumer prices in the United States increased 2.7 percent year-on-year in February of 2017, following a 2.5 percent rise in January and in line with market expectations. It was the highest inflation rate since March of 2012, boosted by a rise in gasoline prices.
• Retail Sales in the United States increased 5.70 percent in February of 2017 over the same month in the previous year, following an upwardly revised 6 percent rise in January.
• The Bank of Japan left the interest rate unchanged at -0.1 percent at its March 2017 meeting, hours after the Federal Reserve raised its benchmark rate. Policymakers also decided to kept its 10-years government bond yield target around zero percent and maintained its upbeat economic view.
• China's central bank lifted its short-term interest rates, for the second time this year. The People's Bank of China on Thursday raised the 7-day reverse repo rate by 10 basis points to 2.45 percent. Similarly, 14-day reverse repo rate was lifted by 10 basis points to 2.6 percent.
• Industrial production in China rose 6.3 percent year-on-year in January-February of 2017, compared to a 6 percent rise in December. On a monthly basis, industrial output went up 0.6 percent, faster than a 0.46 percent in the prior month.
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Ex-Date Company Purpose
20-Mar-17 Sundaram Clayton Interim Dividend Rs 16.50 Per Share (Purpose Revised)
21-Mar-17 CRISIL Dividend Rs 9/- Per Share21-Mar-17 Shilpa Medicare Interim Dividend Re 0.60 Per Share22-Mar-17 Sun TV Network Interim Dividend Rs 5/- Per Share 23-Mar-17 Engineers India Interim Dividend Rs 2.50 Per Share 23-Mar-17 Ajanta Pharma Interim Dividend23-Mar-17 Upper Ganges Sugar & Ind. Scheme Of Arrangement23-Mar-17 The Oudh Sugar Mills Scheme Of Arrangement24-Mar-17 NLC India Interim Dividend24-Mar-17 Hindustan Zinc Interim Dividend
Meeting Date Company Purpose
20-Mar-17 Bodal Chemicals Acquisition20-Mar-17 Oil India Buyback20-Mar-17 NLC India Dividend20-Mar-17 The Jammu & Kashmir Bank Allotment of Securities20-Mar-17 Hindustan Zinc Dividend20-Mar-17 HCL Technologies Buyback20-Mar-17 Engineers India Buyback21-Mar-17 ABG Shipyard Results21-Mar-17 Sharda Cropchem Dividend21-Mar-17 Empee Distilleries Conversion22-Mar-17 The United Nilgiri
Tea Estates Company Dividend23-Mar-17 Muthoot Finance Dividend24-Mar-17 Murudeshwar Ceramics Allotment of Securities24-Mar-17 Rural Electrification
Corporation Results27-Mar-17 Colgate Palmolive (India) 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 29649 UP 18.11.16 25627 28200 27500
NIFTY50 9160 UP 27.01.17 8641 8700 8550
NIFTY IT 10901 UP 30.12.16 10399 10300 10000
NIFTY BANK 21175 UP 27.01.17 19708 20000 19500
ACC 1412 UP 27.01.17 1431 1400 1370
BHARTIAIRTEL 347 UP 03.02.17 354 345 335
BHEL 169 UP 27.01.17 140 155 148
CIPLA 597 UP 03.02.17 608 570 560
SBIN 274 UP 02.12.16 254 260 250
HINDALCO 196 UP 27.01.17 191 175 165
ICICI BANK 281 UP 21.10.16 277 260 255
INFOSYS 1040 UP 10.03.17 1022 970 960
ITC 281 UP 13.01.17 250 265 255
L&T 1553 UP 13.01.17 1439 1470 1450
MARUTI 6193 UP 06.01.17 5616 5800 5700
NTPC 160 DOWN 03.03.17 156 175 180
ONGC* 190 UP 19.08.16 242 - 188
RELIANCE 1301 UP 30.12.16 1082 1220 1190
TATASTEEL 502 UP 04.03.16 289 460 450
S/l
4
Closing as on 17-03-2017*ONGC Has broken the support of 194
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
1937.16
344.01
4309.49
1418.11
632.90
0.00
-162.60-500.00
0.00
500.00
1000.00
1500.00
2000.00
2500.00
3000.00
3500.00
4000.00
4500.00
5000.00
Friday Monday Tuesday Wednesday Thursday
FII / FPI Activity MF Activity
9.008.35
6.82 6.806.01
-7.70
-1.16 -0.84-0.44
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
Adani Ports Idea Cellular Tata Steel B H E L Bank of Baroda
Coal India Bharti Airtel TCS Axis Bank
8.40
6.705.62 5.60
5.14
-7.76
-1.25 -0.90-0.38
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
Adani Ports Tata Steel H D F C Asian Paints ICICI Bank Coal India Bharti Airtel TCS Axis Bank
2.452.21
4.09
2.95
3.67
2.82
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Next 50
S&P CNX 500
2.612.70
4.774.59
2.232.33
0.52
2.98
1.44
3.57
4.52
0.00
1.00
2.00
3.00
4.00
5.00
6.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
0.67
0.15
0.37
-0.07
0.96
3.05
1.75
0.99
0.40
-0.50
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
INSTITUTIONAL ACTIVITY (Equity) (` Crore)
Beat the street - Fundamental Analysis
Above calls are recommended with a time horizon of 8 to 10 months. Source: Company Website Reuters Capitaline
6
Investment Rationale reduction of working capital. •Kalpataru Power Transmission Limited (KPTL) is •Overall, for KPTL standalone management expects
an engineering, procurement and construction net sales growth of around 18-20% for FY'17 with (EPC) contracting company with a diversified margins of around 10.5-11%. Management expects portfolio in power transmission & distribution, same momentum to remain for FY'18 also in terms cross country pipeline, oil & gas field surface of sales and margins. For JMC Projects, facilities, civil infrastructure projects, power management expects net sales to grow by around generation (biomass) as well as railway projects. 15-18% with around 8.5-9% of margins for FY'18.
•Overall order book position as on Dec'16 for KPTL Valuationstandalone is around 8300 crore. 55% of orders The company has achieved a very healthy growth on are from international markets, 33% from both revenue and profitability. It has been achieved domestic transmission markets and 10% of order by cost control measures and efficient working book is from infrastructure and railway segment. capital management. Management is confident to There was an order intake of around `1650 crore maintaining healthy growth in Q4 and next year, in Dec'16 quarter and is favourably placed (L1) in based on current order book visibility. JMC has the orders of over 3,000 crore. improved on margins in the current year with focus on
•JMC Projects, subsidiary of KPTL, received an productivity and cost management. Thus, it is order inflow of around 2050 crore in Dec'16 expected that the stock will see a price target of 329 quarter. The current order book position is around in 8 to 10 months time frame on target P/E of 29x and Rs 6800 crore. 75% of order book is from factories FY18 (E) earnings of 11.35.and building sector. Around 21% of order book is from government and PSU undertakings.
•Going ahead, management expects sizable orders from Power Grid Corporation of India Limited (PGCIL) & SEBs for domestic transmission business. On the international front it has a lot of opportunities in African & CIS market with huge order in pipeline. Management continues to maintain focus on Quality Assurance & Safety Standards.
•The company expects the year to end with debt of around 700 crore. Management expects interest cost to remain under control and advances from contracts will help in overall
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P/E Chart
KALPATARU POWER TRANSMISSION LIMITED CMP: 286.20 Upside: 15%Target Price: 329.00
Face Value (`) 2.00
52 Week High/Low 299.85/184.35
M.Cap ( Cr.) 4392.04
EPS ( ) 7.27
P/E Ratio (times) 39.34
P/B Ratio (times) 1.89
Dividend Yield (%) 0.52
Stock Exchange BSE
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% OF SHARE HOLDING
VALUE PARAMETERS
Actual Estimate
FY Mar-16 FY Mar-17 FY Mar-18
Revenue 7,327.80 7,610.80 8,908.10EBITDA 807.00 845.80 964.90EBIT 605.20 611.10 693.80Pre-Tax Profit 184.70 222.70 283.90Net Income 117.50 137.50 174.60EPS 7.64 8.98 11.35BVPS 151.56 158.31 167.49RoE 5.10 5.50 7.60
GODREJ INDUSTRIES LIMITED CMP: 513.35 Upside: 16%Target Price: 594.00
Investment Rationale acquisition would strengthen the company agrochemicals retail presence in the country. ?A Godrej Group Company, Godrej Industries Moreover, it has reportedly hired an investment Limited. (GIL) is a conglomerate with a significant bank and is in the process of hiring two more presence in Home and Personal Care, Animal investment banks to manage an initial public Feeds and Agri-products, Poultry, Oil Palm offering (IPO) through which it plans to raise as Plantation, Real Estate Development Oleo-much as $200 million. Godrej Industries owns chemicals and Vegetable Oils, both directly and 60.8% in Godrej Agrovet.through subsidiaries/associate companies.
?Godrej Properties had an excellent third quarter ?The company has reported good third quarter with total revenue increasing by 91% and net earning with commendable growth in majority of profit increasing by 185%. The response to its new the businesses. Major contributors to the growth project launches in Noida and Pune has been have been the real estate, consumer and excellent despite challenging market conditions.chemicals businesses.
Valuation?Its consumer Products business sustained its strong competitiveness and management expects The management expects in FY18, implementation of that it would grow futher with the continuing focus GST would provide strong momentum for a much better on innovations, competitive marketing investments economic environment and stronger consumer and strong on ground execution. It has continued to demand. Going forward, through its CREATE strategy, deliver ahead-of-the-market profitable growth the company would continue to strengthen its position despite a tough operating environment. Its EBITDA in all its core businesses while fostering an inspiring growth was ahead of sales growth, despite a strong place to work . Thus, we expect the stock to see a price base from the previous year. target of 594 in 8 to 10 months time frame on a target
P/E of 41x and FY18 (E) earnings of ̀ 14.48.?The company chemicals business has also reported encouraged performance despite tough global macro-economic environment and raw material price fluctuations. However, the chemicals business would continue its strong focus on cost control and operational efficiencies.
?During Q3FY17, it has recorded a healthy growth of 34% in consolidated Total Income and a growth of 105% in consolidated Net profit (excluding one-off income of Godrej Agrovet). Godrej Agrovet's revenues for the quarter continued to grow by 18% through a healthy mix of organic and acquisitive growth resulting in a strong business profit growth (excluding oneoff income) of 369% at PBT level. For expansion , it has acquired Astec LifeSciences, a listed niche agrochemicals company. This
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Face Value (`) 1.00
52 Week High/Low 524.90/326.20
M.Cap ( Cr.) 17255.74
EPS ( ) 8.07
P/E Ratio (times) 63.59
P/B Ratio (times) 5.42
Dividend Yield (%) 0.34
Stock Exchange BSE
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% OF SHARE HOLDING
P/E Chart
` in cr
Actual EstimateFY Mar-16 FY Mar-17 FY Mar-18
Revenue 10,579.60 11,119.10 12,630.80EBITDA 630.80 780.20 960.90EBIT 500.60 588.70 771.90Pre-Tax Profit 404.50 548.70 695.20Net Income 248.40 338.10 461.20EPS 7.39 8.92 13.72BVPS 103.64 111.35 122.35ROE (%) 7.40 8.30 11.00
VALUE PARAMETERS
15.05
3.27
0
74.77
6.9
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
6.93
21.67
3.04
59.45
8.91
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
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 `712.10 on 17th March 2017. It made a 52-week low at
390.90 on 16th March 2016 and a 52-week high of 797.40 on 28th July 2016.
The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at 607.72.
After a drastic fall from 790 levels, it finally took a rebound near 500 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 690-700 levels for the upside
target of 730-740 levels with SL below 670.
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CAPITAL FIRST LIMITED
The stock closed at 894.10 on 17th March 2017. It made a 52-week low at
746.15 on 26th May 2016 and a 52-week high of 947 on 09th September 2016.
The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at 860.18.
After a steep rise, this particular scrip fell drastically and sustained thereafter
by forming a fresh buying pivot at 750 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
870-880 levels for the upside target of 920-930 levels with SL below 845.
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CUMMINS INDIA LIMITED
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)
In the week gone it was a dream run for Indian rupee and as well as for benchmark equity index NSE Nifty as both of them surge high where Nifty
tested it's all time highs while rupee matched up with 16 month highest level against dollar. The sentiments suddenly become buyont after
Bharatiya Janata Party (BJP) won the key state elections in Uttar Pradesh, and after the US Federal Reserve stuck to its planned tightening pace
this year. Now at current levels we expect that Sector specific moves are likely to continue. Sectors like auto, metal, FMCG and bank can
further move towards north to intact momentum. From derivative data now Nifty has highest OI concentration in 9200 call option while 8800
put option has highest OI concentration. The PCR OI for the week closed at 1.14 from 0.87, which indicates put writing in OTM puts. Going
forward, we would expect this optimism to continue in the market and expect the Nifty to keep marching higher towards 9300 levels.
In lakhs
In 10000 In 10000
SIEMENS (MAR FUTURE)
Buy: Above `1280
Target: `1315
Stop loss: `1260
COALINDIA
BUY MAR 285. PUT 2.60SELL MAR 280. PUT 1.20
Lot size: 1700BEP: 283.60
Max. Profit: 6120.00 (3.60*1700)Max. Loss: 2380.00 (1.40*1700)
OPTIONSTRATEGY
FUTURE
SAIL
BUY MAR 65. CALL 1.20SELL MAR 67.5. CALL 0.55
Lot size: 12000BEP: 65.65
Max. Profit: 22200.00 (1.85*12000)Max. Loss: 7800.00 (0.65*12000)
DERIVATIVE STRATEGIES
TATAMTRDVR (MAR FUTURE)
Sell: Below `285
Target: `275
Stop loss: `290
BULLISH STRATEGY
RECLTD
BUY MAR 170. CALL 2.95SELL MAR 175. CALL 1.50
Lot size: 6000BEP: 171.45
Max. Profit: 21300.00 (3.55*6000)Max. Loss: 8700.00 (1.45*6000)
DRREDDY (MAR FUTURE)
Sell: Below `2720
Target: `2660
Stop loss: `2750
BEARISH STRATEGY
Call Put
6.1
5 11
.72
7.8
2
9.6
1
9.5
9
17
.16
28
.34 34
.48
54
.11
41
.46
42
.13
27
.32
30
.38
22
.86
35
.90
59
.06
51
.59
48
.27
40
.95
14
.84
4.0
4
6.2
0
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
8400 8500 8600 8700 8800 8900 9000 9100 9200 9300 9500
Call Put
-0.7
0
-1.3
5
-1.0
0
-1.8
5
-3.2
9
-12
.52
-37
.33
-18
.64
-5.4
2
-4.2
4
-9.6
2
-4.9
3
-3.6
3
-11
.57
-9.5
9
13
.87
5.7
5
20
.01
32
.64
8.8
6
2.1
8
1.1
4
-50.00
-40.00
-30.00
-20.00
-10.00
0.00
10.00
20.00
30.00
40.00
8400 8500 8600 8700 8800 8900 9000 9100 9200 9300 9500
Call Put
7.6
2 15
.18
9.8
6 14
.74
40
.33
6.2
0
2.4
8
46
.32
80
.50
52
.77
12
.12
13
.46
19
.19
19
.16
46
.12 5
6.3
8
7.2
6
10
.42
66
.42
8.3
2
7.2
1
0.6
2
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
18500 19000 19500 20000 20500 20600 20800 21000 21500 22000 22500
Call Put
-0.0
4
-0.6
9
-0.2
3
-1.2
8
-3.2
9
-0.6
4
-2.7
7
-16
.81
-3.4
8
5.3
0
-0.1
5
-0.9
6
-12
.90
-19
.06
-15
.83
12
.54
1.7
4 5.2
2
45
.98
5.2
4
1.6
0
0.0
0
-30.00
-20.00
-10.00
0.00
10.00
20.00
30.00
40.00
50.00
18500 19000 19500 20000 20500 20600 20800 21000 21500 22000 22500
8
In lakhs
9
DERIVATIVES
FII’s ACTIVITY IN DERIVATIVE SEGMENT
SENTIMENT INDICATOR (NIFTY)
16-Mar 15-Mar 14-Mar 10-Mar 09-Mar
Premium 22.45 24.50 16.00 24.15 27.50
PCR(OI) 1.15 1.03 0.93 0.81 0.85
PCR(VOL) 1.14 0.87 0.90 0.68 0.74
A/D RATIO(Nifty 50) 8.50 1.24 4.43 0.68 1.00
A/D RATIO(All FO Stock)* 8.16 2.46 7.33 0.50 0.75
Implied Volatality 11.13 10.93 10.94 12.41 12.59
VIX 11.91 12.42 12.40 13.96 13.96
HISTORY. VOL 12.25 12.10 12.48 9.94 10.25
*All Future Stock
SENTIMENT INDICATOR (BANKNIFTY)
16-Mar 15-Mar 14-Mar 10-Mar 09-Mar
Premium 60.90 64.70 44.00 70.25 71.90
PCR(OI) 0.94 0.86 0.85 0.80 0.85
PCR(VOL) 1.18 0.99 1.22 0.74 0.68
A/D RATIO(Nifty 50) 11.00 3.00 11.00 0.71 1.50
#A/D RATIO 21.00 3.20 21.00 0.47 0.82
Implied Volatality 15.22 15.97 15.93 16.51 16.54
VIX 11.91 12.42 12.40 13.96 13.96
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
HINDZINC 295.1 3.47% 13712000 33.86%
ICIL 189.65 8.06% 4515000 32.99%
CEATLTD 1256.95 8.37% 2466100 30.24%
BATAINDIA 534.15 4.60% 3709200 29.34%
GODREJIND 515.55 4.40% 1648500 27.64%
M&MFIN 294.95 6.67% 16950000 21.53%
PAGEIND 14696.35 2.35% 32250 20.11%
HEROMOTOCO 3361.8 3.08% 1454600 19.60%
ACC 1428.3 2.03% 1932000 18.73%
BAJAJ-AUTO 2948.45 2.62% 1299500 17.90%
LTP % Price Change Open interest %OI Chng
COALINDIA 293.3 -1.59% 17025500 31.36%
JPASSOCIAT 14.95 -0.33% 150416000 7.17%
BHARATFIN 807.55 -3.04% 17118000 3.26%
AXISBANK 515.35 -0.24% 26785200 1.90%
BHARTIARTL 361.35 -0.90% 39752800 1.49%
TCS 2530.3 -0.58% 5884250 1.22%
In Cr. In Cr.
16
9
- 13
38
- 32
7
66
29
2
- 61
7
- 10
4
18
37
- 23
7
85
8
- 1500
- 1000
- 500
0
500
1000
1500
2000
2-Mar 3-Mar 6-Mar 7-Mar 8-Mar 9-Mar 10-Mar 14-Mar 15-Mar 16-Mar
- 57
0
- 86
4
- 11
53
- 19
58
- 52
3
- 23
87
-4
88
4
56
16
31
5
19
97
- 6000
- 4000
- 2000
0
2000
4000
6000
8000
2-Mar 3-Mar 6-Mar 7-Mar 8-Mar 9-Mar 10-Mar 14-Mar 15-Mar 16-Mar
10
SPICES
Soybean futures (Apr) is likely to remain stable in the range of 2800-3000 levels & some recovery can be seen from lower levels. The crushers are not able to procure soybean in bulk quantities at lower levels as farmers are reluctant to sell at that current prices so crushers are procuring soybean at higher level which is driving the soybean prices upward. Secondly, the demand of soy meal by poultry feed manufacturers have revived due to increased sales of broiler chicken in retail market. On CBOT, U.S soybean futures (May) is expected to trade in the range of $9.80-10.15 a bushel & the upside may remain capped. The sentiments have turned bearish after government and private-sector forecasters raised estimates for the Brazilian soybean harvest, which is set to break production records. Mustard futures (Apr) is expected to witness consolidation in the range of 3780-3950 levels. The demand from crushers has improved on account of improving sales of mustard oil. Oil content in new mustard crop is good which is also attracting crushers to procure the commodity for their near term requirement. In addition to it, the demand for mustard oil cake from cattle feed manufacturer 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.430/100kg over mustard cake. Ref. soy oil futures (Apr) is likely to trade in the range of 625-645 levels, while CPO futures (Apr) may hover in the range of 510-530 levels. At present, buyers of edible oil are not interested to make big commitments as outlook still seen dismal due to expectation of rising supply of edible oils in the global market.
OIL AND OILSEEDS
OTHER COMMODITIES
Sugar futures (Mar) is likely to trade sideways in the range of 3650-3850 levels. In days to come, not much of a recovery is seen in the sweetener prices despite of the upcoming summer season. On the demand side, the sugar sales and off take from sugar mills are substantially lower as compared to last year. Instead of seeing an increase in the sales, the mills are witnessing a drop in the same in comparison to last year. This phenomenon is due to sufficient closing balance in the current season of 40 to 42 lac tons, which will be enough to meet the domestic requirement till almost end of November 2017. Kapas futures (Apr) is likely to trade sideways in the range of 1040-1080 levels. The reason being is stagnant demand & rising supplies. The Cotton Association of India that in 2016-17 (Oct-Sep) the demand from mills is expected at 26 million bales, unchanged from the previous estimate. The association expects imports to rise to 2.1 million bales from 1.9 million bales. The one factor that might lend some support to the domestic cotton market is the rising cotton prices, which is trading near to three year high of 79.80 cents a pound on the ICE Futures U.S. exchange. Cotton oil seed cake futures (Apr) is likely to witness a consolidation in the range of 2200-2300 levels. The upside may remain capped as the demand from cattle feed manufacturer is hand to mouth. The core demand of cotton cake this year has reduced by 25-35% due to availability of other feed in the range of `1,500-1,600/100kg. Further the cottonseed crushing margin is in disparity which is also affecting the demand of cotton seed.
Bullion counter may trade higher as weaker greenback and less hawkish stance by fed in last week FOMC meeting. Movement of local currency rupee can also affect the prices which can move in range of 64.5-66.5. Gold can face resistance of $1260 in COMEX and 29200 in MCX while it has support near $1200 in COMEX and $28000 in MCX. Silver has key support near 39800 in MCX and $16.70 in COMEX. And it has resistance near 42500 in MCX and $18.20 in COMEX. Gold recovered recently as U.S. Federal Reserve signaled a cautious stance on interest rate policy this year, pushing the dollar to its lowest in a month. The Fed last week raised interest rates for the second time in three months, with officials sticking to their outlook for two more rate hikes this year and three more in 2018. Gold is highly sensitive to rising U.S. interest rates, as this increase the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced. India's demand for gold has been subdued for the last couple of months, mainly due to demonetization. While Indian gold demand was 600 tonnes in 2016, the World Gold Council (or WGC) expects it to reach 650–700 tonnes in 2017. China's gold imports for 2016 totaled 1,300 tonnes, down 17% year-over-year. Shanghai Gold Exchange (or SGE) gold withdrawals were at their lowest in four years. So far in 2017, Chinese demand has, however, been quite strong. The combined figures for January and February 2017 for SGE withdrawals imply an increase of 9.3% year-over-year.
BULLIONS
Crude oil prices may remain on volatile path as on the one side increased inventories and surge in production from shale gas producers are keeping the prices under pressure while decline in greenback is capping the downside. Crude oil can trade in range of 3080-3300 in MCX. According to the International Energy Agency (IEA) global inventories rose in January and the oil market could be in deficit by 500,000 barrels per day in the first half of 2017. OPEC has broadly complied with its commitment to cut 1.2 million barrels per day in the first half of the year, but investors have been unnerved as stocks have continued climbing. OPEC member Kuwait stated that it was ready to prolong the deal to reduce supply. But OPEC heavyweight Saudi Arabia, the world's biggest oil exporter, has stated that it is too early to consider an extension. Natural gas may witness some profit booking at higher levels on lower heating demand. Overall it can move in range of 175-200 in MCX. The U.S. Energy Information Administration stated in its report that natural gas storage in the U.S. declined by 53 billion cubic feet in the week ended March 10, missing market expectations for a drop of 56 billion cubic feet. 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. Without significant demand for natural gas, inventories could stay near record levels and may even continue to pull prices even lower.
ENERGY COMPLEX
In base metals counter LME inventory positions and supply concerns can to give further direction to the prices. China's central bank raised short-term interest rates for the third time in as many months last week. The People's Bank of China (PBOC) raised interest rates by 10 basis points on both medium-term lending facility (MLF) loans and its open market operation reverse repurchase agreements. China has cut its economic growth target this year as the world's second-largest economy pledges to push through painful reforms to address a rapid build-up in debt. Copper may move in range of 370-402 in MCX. Copper prices may get supported by supply disruptions at mines in Chile, Peru and Indonesia which are adding to concerns over supply deficits. Lead can trade in range of 144-152. According to ILZSG, “The global lead market deficit more than doubled to 15,000 tonnes in January from a shortfall of 7,000 tonnes in December”. Nickel can move in range of 640-690. Nickel prices have risen nearly 40 percent since early 2016, but that was mostly due to stronger demand from Chinese firms opting to make better quality stainless steel and worries about supplies from top producer the Philippines. Aluminum prices may trade in range of 121-127 in MCX. Zinc can move in range of 176-192. According to the Lead and Zinc Study Group (ILZSG), “The global zinc market recorded a deficit of 27,000 tonnes in January after clocking up a revised surplus of 8,800 tonnes in December”.
Turmeric futures (Apr) may descend down towards 6300 levels in days to come. The sentiments are bearish as the exports demand for turmeric in the recent times is not sufficient to lift the price. Activities in spot markets are not encouraging either as buyers are hesitant to source in bulk quantity due to bearish future outlook due to higher production forecast and new crop supply to improve in the coming weeks. Jeera futures (Apr) is likely to consolidate in the range of 16400-17400 & the upside may remain capped. Overseas demand at present is not very encouraging as they are not getting advantage of fall in cumin seed prices due to strength in Indian currency. The Indian rupee strengthened for the third session to hit a fresh 16-month high of 65.23. The cumin prices are also pressured by estimates of higher production season. Coriander futures (Apr) may witness a consolidation in the range of 6600-7100 levels. At the spot markets, buyers are expecting some good revival in coriander prices and therefore have turned active. The current coriander rates are lower and farmers are not very much interested to sell their produce leading to lower supply in the spot markets. Cardamom futures (Apr) will possibly take support near 1375 levels & remain stable on the national bourse. North Indian dealers as well as exporters are buying as they have realized of late that no arrival of fresh cardamom would take place till the next season harvesting which may start by mid-June. This sentiment has prompted all the participants to become active in the market. Total arrivals during the season from August 01 up to March 11, 2017 were at 13,991 tonnes and sales were at 13,347 tonnes.
BASE METALS
11
TECHNICAL RECOMMENDATIONS
COMMODITY
CRUDE OIL MCX (APRIL) contract closed at ̀ 3242 on 16th Mar'17. The contract made its high of 3958 on
03rd Jan'17 and a low of 3163 on 14th Mar'17. The 18-day Exponential Moving Average of the commodity
is currently at 3418.7.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 37. One can buy in the
range of 3230-3220 with the stop loss of 3165 for a target of 3320.
`
`
`
` ` `
NICKEL MCX (MARCH) contract closed at 666.70 on 16th Mar'17. The contract made its high of 768.20
on 09th Nov'16 and a low of 650.60 on 27th Jan'17. The 18-day Exponential Moving Average of the
commodity is currently at 693.19.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 46. One can buy in the
range of 665-655 with the stop loss of 640 for a target of 700.
` `
`
`
` ` `
MENTH OIL MCX (MARCH) contract closed at 1004.30 on 16th Mar'17. The contract made its high of Rs.
1083.60 on 02nd Jan'17 and a low of 979.60 on 09th Dec'16. The 18-day Exponential Moving Average of
the commodity is currently at 1023.8.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 49. One can buy in the
range of 1000-990 with the stop loss of 975 for a target of 1045.
`
`
`
` ` `
CRUDE OIL MCX (APRIL)
NICKEL MCX (MARCH)
MENTH OIL MCX (MARCH)
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 2890.00 12.05.16 Down 4037.00 - 2950.00 3050.00
NCDEX JEERA APR 16960.00 09.02.17 Sideways
NCDEX REF.SOY OIL APR 636.25 16.02.17 Down 670.55 - 650.00 655.00
NCDEX RM SEEDS APR 3841.00 24.08.16 Down 4637.00 - 3920.00 3970.00
MCX MENTHA OIL MAR 1004.30 20.10.16 Up 920.80 1000.00 - 985.00
MCX CARDAMOM APR 1406.40 27.10.16 Up 1260.40 1395.00 - 1385.00
MCX SILVER MAY 40598.00 16.02.17 Up 43010.00 40550.00 - 40500.00
MCX GOLD APR 28411.00 16.03.17 Sideways
MCX COPPER APR 387.75 22.09.16 Up 326.75 382.00 - 375.00
MCX LEAD MAR 146.55 19.01.17 Up 155.80 150.00 - 148.00
MCX ZINC MAR 184.35 09.03.17 Down 178.95 - 187.00 198.00
MCX NICKEL MAR 666.70 16.03.17 Sideways
MCX ALUMINIUM MAR 123.85 10.11.16 Up 118.50 123.00 - 122.00
MCX CRUDE OIL APR 3242.00 09.03.17 Down 3324.00 - 3400.00 3450.00
MCX NATURAL GAS APR 196.50 09.02.17 Down 209.20 - 200.00 210.00
TREND SHEET
*Closing as on 16.03.17
COMMODITY
NEWS DIGEST
After a steep fall of four week, finally CRB took support from bullion and energy counter and
closed the week on positive note. Gold held firm as the dollar weakened after the US Federal
Reserve signaled no increase in the pace of monetary tightening. The Federal Reserve on
Wednesday raised US interest rates for the second time in three months, as expected, but did
not flag any plan to accelerate the pace of monetary tightening as some investors had
anticipated. Gold is highly sensitive to rising US interest rates, as this increase the opportunity
cost of holding non-yielding bullion, while boosting the dollar, in which it is priced. Silver
followed the footsteps of gold. Though appreciation in rupee due to positive sentiments in
economy after states poll result limited the upside in MCX gold and silver and thus they
recovered the weekly losses to some extent but couldn't end the week on positive side.
Furthermore, oil prices rose, lifted by a surprise drawdown in U.S. crude inventories and data
from the International Energy Agency (IEA) suggesting OPEC cuts should create a crude deficit
in the first half of 2017. Inventories fell by 237,000 barrels in the week to March 10, compared
with analysts' expectations for an increase of 3.7 million barrels. On the flip side, natural gas
prices fell on Thursday as the US Energy Department's report on the nation's commercial gas
inventories disappointed traders. The Energy Information Administration said gas stocks
dropped by 53 billion cubic feet last week, edging down to 2.24 trillion cubic feet. The natural
gas rig count for the week ending March 10, 2017, was 90.6% lower than its peak in 2008. The
rig count reached a historic high of 1,606 in 2008. Despite the sharp fall in natural gas targeted
rigs since August 2008, natural gas production continued to rise. In base metals, copper, nickel
and zinc moved up wile lead and aluminum closed down.
In agri commodities most of the oil seeds and edible oil futures closed up on firm trend, though
the upside was limited. The dollar fell, helping U.S. agricultural exports' competitiveness,
while crude oil stabilized after falling sharply last week. In spices, jeera, cardamom and
dhaniya prices strengthened whereas turmeric prices nosedived on ample supply pressure.
Guar prices augmented on comparatively better fundamental support.
WEEKLY COMMENTARY
COMMODITY UNIT 16.03.17 DIFFERENCEQTY. QTY.
CASTOR SEED MT 50234.00 60714.00 10480.00
COTTON 29 MM BALES 100.00 100.00 0.00
COTTON SEED O.C MT 38014.00 39322.00 1308.00
GUARGUM MT 30974.00 32096.00 1122.00
GUARSEED MT 21049.00 21450.00 401.00
MAIZE MT 2669.00 2404.00 -265.00
SOYBEAN MT 214451.00 206691.00 -7760.00
SUGAR MT 1898.00 1898.00 0.00
WHEAT MT 2038.00 1788.00 -250.00
09.03.17 COMMODITY UNIT 15.03.17 DIFFERENCE
QTY. QTY.
CARDAMOM MT 11.70 12.10 0.40
COTTON BALES 21600.00 23400.00 1800.00
GOLD KGS 22.00 22.00 0.00
GOLD MINI KGS 30.40 6.40 -24.00
GOLD GUINEA KGS 4.41 4.41 0.00
MENTHA OIL KGS 1130905.00 1126591.55 -4313.45
SILVER (30 KG Bar) KGS 36199.29 33554.41 -2644.88
09.03.17
•India's oil imports from Iran rose nearly 17% in
February from a month earlier as refiners received
less crude from key OPEC producers Saudi Arabia
and Iraq.
•China's steel output in the first two months of 2017
rose 5.8% from the same period a year ago.
•The IMF called on the Group of 20 major economies
to work together to preserve the benefits of trade
and avoid protectionism, while also urging them to
reduce external imbalances.
•India's edible oil imports rose 15.8% on year to 1.23
million tons in February, according to data released
today by the Solvent Extractors' Association of
India.
•The Cotton Association of India has maintained its
estimate for production of cotton in the country in
2016-17 (Oct-Sep) at 34.1 million bales (1 bale = 170
kg), as it had projected in January.
•There is no proposal to import wheat on
Government Account. Stock of wheat in the Central
Pool as on 1st January, 2017 was already 13.747
million tons against stocking norms of 12.8 million
tons for the quarter January to March. - Ministry of
Consumer Affairs, Food & Public Distribution
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
3.83%
2.48%
1.97%1.83%
1.53%
-2.39%-2.23%
-1.76%
- 1.11%-0.93%
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
CORIANDERCASTOR SEED
NEWNEW STEEL
LONGGUARGUM
5MTGUAR SEED
10MT TURMERICGOLD
HEDGECHILLI TEJA KAPAS
SOY OIL
3.00%
2.45%
1.51%1.32%
0.94%
-3.95%
-2.50%
-1.83%-1.69%
-1.15%
-5%
-4%
-3%
-2%
-1%
0%
1%
2%
3%
4%
KAPASZINC MINI CARDAMOM
COPPER MINI NICKEL
NATURAL GAS
LEAD MINI
BR. CRUDE OIL
MENTHA OIL
CRUDE OIL
COMMODITY
COMMODITY EXCHANGE CONTRACT 10 16.03.17 CHANGE%
ALUMINIUM LME 3 MONTHS 1880.00 1900.00 1.06
COPPER LME 3 MONTHS 5732.00 5909.00 3.09
LEAD LME 3 MONTHS 2262.50 2243.00 -0.86
NICKEL LME 3 MONTHS 9895.00 10220.00 3.28
ZINC LME 3 MONTHS 2705.00 2829.00 4.58
GOLD COMEX APR 1201.40 1227.10 2.14
SILVER COMEX MAY 16.92 17.33 2.41
LIGHT CRUDE OIL NYMEX APR 48.49 48.75 0.54
NATURAL GAS NYMEX APR 3.01 2.90 -3.52
.03.17
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
09.03.17 16.03.17
ALUMINIUM 2101550 2019325 -82225
COPPER 288525 340525 52000
NICKEL 386118 386400 282
LEAD 189725 190550 825
ZINC 383850 379275 -4575
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 10.03.17 16.03.17 CHANGE(%)
Soybean CBOT MAR Cent per Bushel 996.25 1001.50 0.53
Soy oil CBOT MAR Cent per Pound 32.44 32.26 -0.55
CPO BMD MAY MYR per MT 2771.00 2796.00 0.90
Sugar LIFFE MAY 10 cents per MT 512.40 510.30 -0.41
13
SPOT PRICES (% change) Indian Oil meal Exports- On Revival mode
Oilmeals are the solid residues obtained after extracting oil from oilseeds. It is widely used as a source of protein in animal diet in sectors such as poultry, piggery and fisheries. It is also known as oilcakes. Some of the oilcakes like castor oilcakes that are toxic by nature are generally used in making of fertilizers. India is major exporter of Oil meals.
As cited by the Solvent Extractors' Association of India:
• The export of oilmeals during February 2017 has more than doubled and reported at 263,509 tons compared to 122,527 tons in February 2016 i.e. up by 115%.
• The overall export of oilmeals during April 2016 to February 2017 is reported at 1,673,036 tons compared to 1,422,993 tons during the same period of last year i.e. up by 18%.
• Soyameal exports rose sharply to 2.07 lakh tonnes during last month from nearly 30,000 tonnes in the same month last year, the data showed.
• The export of soyameal was maximum at 8.09 lakh tonnes out of the total shipments so far during this financial year.
• South Korea, Vietnam and France are major Importers of Oilmeals.
• Oilmeal import by South Korea from India during Apr.'16 to Feb.'17 is reported at 510,006 tons; consisting 167,760 tons of rapeseed meal, 333,576 tons of castor meal and 8,670 tons of soybean meal.
• Vietnam imported 296,359 tons; consisting of 10,708 tons of rapeseed meal, 28,430 tons of soybean meal and 257,221 tons of Rice Bran Extraction.
• France imported 208,099 tons; consisting of204,538 tons of soybean meal and 3,561 tons of castor meal. Japan imported 157,093 tons; consisting 151,030 tons of soybean meal , 4,097 tons of rapeseed meal and 1,966 tons of castor meal.
• Bangladesh imported 230,581 tons; consisting 228,050 tons of soybean meal, 1,452 tons of rapeseed meal and 1,079 tons of de-oiled rice bran.
Port-wise Export : Apr.'16 – Feb.'17
The export from Kandla is reported at 873,006 tons (52%), followed by Kolkata handled 279,091 tons (17%), Mumbai including JNPT handled 209,186 tons (13%), and Mundra handled 109,144 tons (7%) and Other Port (including by Road) handled 198,694 tons (12%).
-6.09
-4.31
-2.88
-2.05
-1.69
-1.37
-0.82
-0.79
-0.73
-0.35
-0.31
-0.23
0.14
0.30
0.74
3.21
-8.00 -6.00 -4.00 -2.00 0.00 2.00 4.00
BARLEY (JAIPUR)
WHEAT (DELHI)
GUAR GUM (JODHPUR)
GUR (MUZAFFARNGR.)
CRUDE PALM OIL (KANDLA)
TURMERIC (NIZAMABAD)
GUAR SEED (JODHPUR)
JEERA (UNJHA)
COTTON SEED OIL CAKE (AKOLA)
COTTON (KADI)
MUSTARD (JAIPUR)
PEPPER MALABAR GAR (KOCHI)
RAW JUTE (KOLKATA)
SOYABEAN (INDORE)
SUGAR (KOLKATA)
CORIANDER (KOTA)
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 66.31 66.36 65.31 65.53
EUR/INR 70.71 70.76 69.67 70.36
GBP/INR 80.99 81.05 79.76 80.39
JPY/INR 57.81 58.01 57.18 57.80
News Flows of last week
14th Mar India Inflation Accelerates In February
15th Mar U.S. Retail Sales Inch Up 0.1% In February
15th Mar BoJ Leaves Monetary Policy Unchanged
16th Mar China Raises Short-Term Rates For Second Time In 2017
16th Mar U.S. Weekly Jobless Claims Show Modest Decrease; Edge Down To
241,000
16th Mar Bank Of England Split On Record Low Rate
EUR/INR (MAR) contract closed at 70.36 on 16th March'17. The contract made its high of 70.76 on 14th March'17 and a low of 69.67 on 15th March'17 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at 70.69.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 39.71. One can buy above 71.00 for a target of 72.00 with the stop loss of 70.50.
(Source: Spider Software, Open: Tuesday 9.00 AM IST, Close: Thursday (5.00 PM IST)
Market Stance
Rupee took a handsome rally in the week gone by and tested fresh 16 month
high against the dollar as bulls cheer the BJP's massive victory in the major
state election which has led to positive sentiments in the Indian markets.
Massive capital inflows on hopes of more reform spurred the rupee's biggest
rally since early 2015 and also took the local equity indices at all time highs.
Moreover, fresh triggers also came from the U.S dollar after Federal Reserve
raised the interest rates as expected but also signaled of no pick-up in the
pace of tightening. Overseas dollar sank to three week low against the basket
of currencies. In addition recording positive growth for six months in a row,
India's merchandise exports registered a double-digit growth by jumping
17.48 per cent in February.
EUR/INR
USD/INR (MAR) contract closed at 65.53 on 16th March'17. The contract made its high of 66.36 on 14th March'17 and a low of 65.31 on 16th March'17 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at 66.53.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 17.42. One can sell around 66.00 for the target of 65.00 with the stop loss of 66.50.
GBP/INR (MAR) contract closed at 80.39 on 16th March'17. The contract made its high of 81.05 on 14th March'17 and a low of 79.76 on 15th March'17 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at 81.61.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 27.44. One can sell below 80.80 for a target of 79.80 with the stop loss of 81.30
JPY/INR (MAR) contract closed at 57.80 on 16th March'17. The contract made its high of 58.01 on 16th March'17 and a low of 57.18 on 15th March'17 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at 58.38.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 37.55. One can sell below 57.70 for a target of 56.70 with the stop loss of 58.20.
USD/INRTechnical Recommendation
Economic gauge for the next week
Date Currency Event Previous
21st Mar GBP Producer Price Index - Output (MoM) n.s.a 0.621st Mar GBP Consumer Price Index (MoM) -0.521st Mar GBP Consumer Price Index (YoY) 1.822nd Mar EUR Non-monetary policy's ECB meeting22nd Mar USD Housing Price Index (MoM) 0.423rd Mar GBP Retail Sales (MoM) -0.323rd Mar USD Fed's Yellen Speech23rd Mar USD Initial Jobless Claims 24123rd Mar USD New Home Sales (MoM) 0.55523rd Mar USD New Home Sales Change (MoM) 3.723rd Mar EUR Consumer Confidence -6.224th Mar USD Durable Goods Orders 1.824th Mar USD Markit Manufacturing PMI 54.2
GBP/INR JPY/INR
14
15
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.)
IPOIPO
About the companyIncorporated in 1996, CL Educate Ltd is engaged in providing various educational products and services. It
operates through two segments, Education and Training Programme (Including Sale of Study Material) and
Vocational Training. It also provides integrated solutions to educational institutions and universities,
including business advisory and outreach support services under the CL Media brand, as well as research
incubation and support services under the brand Accendere brand. In addition, the company operates K-12
schools under the Indus World School brand name.
Strengths Diversified and integrated education products: CL Educate offers test preparation courses and services
under the Career Launcher brand, publishing and content development services under the brand GK
Publications and event management, marketing support, customer engagement, and managed manpower
and training services under the Kestone brand name.
Reputed courses, particularly in the aptitude based test prep segment: Under the company brand
Career Launcher, it offers reputed test prep courses for MBA, Banking and SSC and Law, as well as
Engineering, Civil Services, Medical and International Education (GRE, GMAT and SAT), among others.
Asset-light, technology-enabled business model: In order to ensure pan-India presence in the company
test prep business, it has adopted what it believes to be a scalable, asset-light and less capital-intensive
business partnership model to operate test prep centers, in addition to the company own test prep
centers.
Track record of successful inorganic expansion: The company believes that it has been successful in
selectively identifying strategic acquisition, investment and collaboration targets in the past, and in
integrating, developing, synergizing and leveraging the existing businesses and brand equity of the
company past acquisitions, investment and collaborations to enter into new business segments and
geographies and thus expand the company presence across the education value chain.
Strategies: Expand the company geographical footprint and increase test prep center utilization across India, in
the company test prep business: Given the limited seats available across the spectrum of organized
employment opportunities in India as well as the skewed student-to-seat ratio at many universities and
higher educational institutes across India, it believes that test prep constitutes a critical tool for
enhancement of students’ aptitude and knowledge for entry into such educational institutes and,
therefore, that there is a significant untapped market for the company across a wide array of test prep
courses.
Develop and derive synergies from the company publishing and content development business: As part
of the company ongoing larger strategy of diversification, it seeks to continue to develop and derive
synergies from the company publishing and content development business, including in terms of expanding
the company dealer and distributor network and expanding the company content library, through the
company in-house content development team as well as through independent content providers.
Diversify the company business into the B2BC spectrum of the education sector: While the company
test prep, publishing and content development, vocational training and K12 schools businesses have
historically focused primarily on the business-to-customer (“B2C”) spectrum of the education sector, it
believes that there is a significant growth opportunity for the in the business-to-business-to-consumer
(“B2BC”) spectrum of the education sector.
Develop and implement innovative digital business solutions: The company seeks to expand the
company customer base and revenue-generation capabilities, to target the growing and increasingly
mobile Indian middle class with rising household incomes, including through exploring a variety of
innovative and technology-enhanced platforms as well as new media initiatives, targeted towards on-
demand learning.
OutlookCL Educate offers test preparation courses and services under the Career Launcher brand, publishing and
content development services under the brand GK Publications and event management, marketing
support, customer engagement, and managed manpower and training services under the Kestone brand
name. Moreover, the management is confident of maintaining the tempo of growth with more innovative
plans. Investors who have long term prospects may consider it for investment.
CL Educate Ltd
IPOIPO
Book Running Lead Manager Kotak Mahindra Capital
Company Limited
Name of the registrar Karvy Computershare
private Limited
Issue Highlights
INDUSTRY EDUCATION
Total Issue (Shares) - Offer for sale 2,579,881
Total Issue (Shares) - Fresh Issue 2,180,119
Net Offer to the Public 4,760,000
Issue Size (Rs. Cr.) 238-238.95
Price Band (Rs.) 500-502
Offer Date 20-Mar-17
Close Date 22-Mar-17
Face Value 10
Lot Size 29
Issue Composition
Total Issue Shares 4,760,000
QIB 2,380,000
NIB 714,000
Retail 1,666,000
In shares
Objects of the Issue
?Funding working capital requirement of compnay and
subsidiaries, GKP and Kestone
?Prepayment of outstanding amount of debt
?Acquisitions and other strategic initiatives
?General Corporate Purpose
Risk factors
?Operates in a significantly fragmented and competitive
market
?Operating revenues is derived from its test prep
Valuation
Considering the P/E valuation on the upper end of the price
band of Rs. 502, the stock is priced at pre issue P/E of
42.16x on its FY17 EPS of Rs. 11.91. Post issue, the stock is
priced at a P/E of 49.83x on its EPS of Rs. 10.07. Looking at
the P/B ratio at Rs. 502 the stock is priced at P/B ratio of
2.25x on the pre issue book value of Rs.223.28 and on the
post issue book value of Rs. 271.22 the P/B comes out to
1.85x.On the lower end of the price band of Rs.500 the
stock is priced at pre issue P/E of 41.99x on its FY17 EPS of
Rs. 11.91.Post issue, the stock is priced at a P/E of 49.63 on
its EPS of Rs. 10.07. Looking at the P/B ratio at Rs. 500, the
stock is priced at P/B ratio of 2.24x on the pre issue book
value of Rs. 223.28 and on the post issue book value of Rs.
271.22 , the P/B comes out to 1.84x.
SMC Ranking
(2.5/5)
16
SMC Ranking
About the company
Incorporated in 1995, Shankara Building Products Ltd is retailers of home improvement and building
products in India. The company carries reputed third party brands such as Sintex, Uttam Galva,
Uttam Value, Futura, APL Apollo and Alstone and their own brands such as CenturyRoof, Ganga and
Loha at their retail stores.
Its Competitive Strengths
Providing its customers a unique experience: The Company offers its retail customers a unique
experience by providing them a comprehensive range of home building products under one roof.
Its strong vendor network and relationship built over two decades: The Company has a wide
network of suppliers for its various product offerings. As on December 31, 2016, the company offered
its suppliers a growing network of 103 retail outlets spread across 9 states and 1 union territory in
Tier-I Cities, Tier-II Cities and Tier-III Cities. As of December 31, 2016, the Company operates 30
stores in Tier-I Cities, 30 stores in Tier-II Cities and 43 stores in Tier-III Cities.
Its presence across the entire value chain: Its business operations span across the entire value
chain of processing, channel sales, enterprise sales, retail sales and other allied services such as
delivery and installation.
Robust back-end infrastructure ensuring efficient supply chain management: The Company has
been focused on implementing proper systems and processes since its inception and this has been
the foundation for it to scale successfully. Its Company received its ISO 9001 certification in 2003.
The company has implemented an efficient ERP system.
Strong track record and financial stability: The Company has maintained a strong track record of
growth over the years through expansion of stores, improved procurement costs, higher customer
retention and increase in same store sales growth. It has added numerous processing facilities
(greenfield and acquisitions), warehousing infrastructure, substantially scaled up its retail
operations and added a number of new product categories.
Strategies
Scaling its retail presence: To address the growing demand for home building and home
improvement products, the company intends to expand its footprint of Shankara BuildPro stores over
the next few years.
Enhancing its product offerings: The Company intends to further enhance and expand its existing
product portfolio at its retail stores, by adding more product categories and more brands in existing
product categories such as electrical and decorative paints.
Increasing its presence in bespoke products: The Company intends to capitalize on its
specialization in processing customized steel products by deepening its presence in bespoke
products.
Focus on its brand equity and marketability in the home improvement and building space: The
company intends to focus on enhancing its brand equity and marketability through various means,
including, expansion of its Shankara BuildPro stores across India. The company believes that such
initiatives will enable it to establish a loyal customer base across its target customer categories and
further increase its revenue.
Outlook
Company’s retail operations are strategically suited to benefit from growth in housing demand, large
market for home improvement, and increasing customer involvement in home solution decisions
which have created a need for organized speciality home improvement and building product store.
Investors may opt the issue for medium to long term.
IPOIPO
Shankara Building Products Ltd
IPOIPO
Book Running Lead Manager IDFC Bank Limited
Equirus Capital Private
Limited
HDFC Bank Limited
Name of the registrar Karvy Computershare
private Limited
Issue Highlights
INDUSTRY DIVERSIFIED
Total Issue (Shares) - Offer for sale 6,521,740
Total Issue (Shares) - Fresh Issue 978,261
Net Offer to the Public 7,500,001
Issue Size (Rs. Cr.) 330-345
Price Band (Rs.) 440-460
Offer Date 22-Mar-17
Close Date 24-Mar-17
Face Value 10
Lot Size 32
Issue Composition
Total Issue Shares 7,500,001
QIB 3,750,000
NIB 1,125,000
Retail 2,625,000
In shares
Objects of the Issue
?Repayment or pre-payment of loans of the Company
?General corporate purposes.
Risk factors
?Its success depends on the value, perception and
product quality
?Dependent on third-party suppliers and sub-contractors
Valuation
Considering the P/E valuation on the upper end of the price
band of Rs. 460, the stock is priced at pre issue P/E of
18.16x on its FY17 EPS of Rs. 25.33. Post issue, the stock is
priced at a P/E of 18.97x on its EPS of Rs. 24.24. Looking at
the P/B ratio at Rs. 460 the stock is priced at P/B ratio of
3.03x on the pre issue book value of Rs.151.87 and on the
post issue book value of Rs. 171.12 the P/B comes out to
2.69x.On the lower end of the price band of Rs.440 the
stock is priced at pre issue P/E of 17.37x on its FY17 EPS of
Rs. 25.33.Post issue, the stock is priced at a P/E of 18.15 on
its EPS of Rs. 24.24. Looking at the P/B ratio at Rs. 440, the
stock is priced at P/B ratio of 2.90x on the pre issue book
value of Rs. 151.87 and on the post issue book value of Rs.
171.12 , the P/B comes out to 2.57x.
17
(2.5/5)
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 16/03/2017Beta, 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
Mirae Asset Tax Saver Fund - Reg - G 13.28 28-Dec-2015 140.36 15.22 10.88 40.91 N.A 26.22 2.16 0.93 0.20 66.28 25.33 2.12 6.27
Motilal Oswal MOSt Focused Long Term F - Reg - G 14.43 21-Jan-2015 207.49 14.33 11.32 40.08 N.A 18.61 2.15 0.85 0.21 63.95 32.53 3.52
HDFC Taxsaver - Growth 462.53 13-Jun-1996 5266.20 13.28 10.29 37.70 20.85 27.35 2.43 1.03 0.08 71.34 21.19 2.18 5.29
Principal Tax Savings Fund 172.28 31-Mar-1996 277.86 14.75 6.50 35.60 22.82 16.80 2.42 1.04 0.14 54.21 35.41 4.72 5.67
DSP BlackRock Tax Saver Fund - Growth 40.41 18-Jan-2007 1461.32 12.12 6.35 35.02 25.13 14.73 2.11 0.90 0.15 71.77 20.45 2.73 5.05
HSBC Tax Saver Equity Fund - Growth 32.50 05-Jan-2007 170.24 17.00 8.30 33.70 20.95 12.25 2.23 0.97 0.10 61.75 25.21 7.72 5.32
Sundaram Taxsaver - (Open Ended F) - Reg - G 89.07 22-Nov-1999 1331.58 14.24 6.00 33.51 21.84 18.07 2.29 0.98 0.13 48.00 43.87 1.87 6.26
N.A
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 33.98 08-Aug-2005 238.47 11.95 16.50 54.69 22.85 11.11 2.46 0.93 0.26 63.21 23.60 9.35 3.84
L&T Emerging Businesses Fund - Reg - G 20.31 12-May-2014 366.27 16.15 13.73 49.51 N.A 28.27 2.38 0.86 0.26 N.A 64.68 25.96 9.36
Tata Equity P/E Fund - Reg - Growth 114.48 29-Jun-2004 673.56 13.09 12.50 46.54 29.66 21.12 2.25 0.92 0.17 49.59 40.44 3.43 6.55
Sundaram Rural India Fund - Reg - G 36.14 12-May-2006 533.08 13.56 6.42 44.47 28.11 12.57 2.18 0.89 0.28 36.77 39.71 9.55 13.97
Birla Sun Life Small & Midcap Fund - G 33.25 31-May-2007 373.57 15.44 7.85 44.44 33.27 13.04 2.38 0.91 0.25 2.23 75.25 11.34 11.18
SBI PSU Fund - Growth 11.54 07-Jul-2010 178.54 8.61 17.18 44.41 16.60 2.17 2.63 1.00 0.13 70.90 27.21 N.A 1.89
Mirae Asset Emerging Bluechip Fund - G 41.52 09-Jul-2010 2906.88 16.08 11.90 43.28 36.65 23.71 2.20 0.89 0.24 33.07 63.14 1.90 1.89
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.
ICICI Prudential LTP - Growth 20.08 20-Jan-2010 1716.18 29.85 10.63 -0.70 7.25 14.15 12.85 10.23 32.71 0.28 11.91 7.77
UTI Dynamic Bond Fund - Reg - Growth 18.94 23-Jun-2010 1198.74 13.88 5.95 2.86 10.45 14.05 11.46 9.95 28.59 0.90 4.03 7.36
SBI Dynamic Bond Fund - Growth 20.37 09-Feb-2004 2981.07 5.82 -2.89 0.56 9.16 13.77 10.70 5.58 27.18 0.74 4.50 6.42
Canara Robeco Dynamic Bond Fund - Reg - G 18.68 29-May-2009 239.14 11.24 3.62 0.53 8.08 13.34 11.01 8.34 29.54 0.04 4.16 6.59
ICICI Prudential Income Fund -Growth 51.41 09-Jul-1998 2794.50 26.63 8.10 -1.77 5.14 13.05 11.50 9.15 33.63 -0.72 12.06 8.01
UTI Bond Fund - Growth 49.30 04-May-1998 2289.32 14.94 5.01 2.21 8.82 12.94 11.30 8.82 28.72 -0.15 4.09 7.43
ICICI Prudential Dynamic Bond F - Prem Plus - G 19.20 14-Jan-2010 1473.12 27.35 8.83 -0.66 6.27 12.60 12.21 9.52 24.20 1.53 7.25 7.90
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 3369.32 31-Jan-2002 7963.59 11.02 3.50 6.20 9.54 11.35 9.68 8.36 13.28 0.76 1.82 10.40
L&T Short Term Income Fund - Reg - G 17.32 04-Dec-2010 477.15 10.98 4.46 5.91 9.33 10.27 9.69 9.13 7.01 1.79 1.64 8.68
Baroda Pioneer Short Term Bond Fund - G 17.18 30-Jun-2010 420.66 9.09 6.31 7.98 8.70 10.07 9.40 8.39 5.18 1.52 1.14 7.98
HDFC Short Term Plan - Growth 32.27 28-Feb-2002 3777.47 7.93 2.81 3.92 8.29 9.83 10.04 8.09 7.10 1.71 1.73 8.35
DHFL Pramerica Short Maturity Fund - G 29.62 21-Jan-2003 1594.76 11.72 3.53 3.46 7.75 9.65 9.50 7.97 8.73 1.14 2.98 8.45
Kotak Income Opportunities Fund - Reg - G 17.82 11-May-2010 2905.60 12.73 3.19 3.01 7.68 10.03 9.95 8.80 9.55 1.56 2.78 8.48
UTI Short Term Income Fund - Ret - G 28.70 23-Jun-2003 9951.70 7.84 2.64 2.86 7.63 9.48 9.28 7.97 10.79 0.55 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 451.84 01-Feb-1994 14228.00 8.59 8.40 32.34 21.29 19.25 2.06 0.09 47.02 15.75 9.62 27.61
ICICI Prudential Balanced - Growth 114.06 03-Nov-1999 4394.87 9.40 8.04 30.29 21.36 15.04 1.63 0.11 51.76 12.85 1.25 34.14
DSP BlackRock Balanced Fund - Growth 129.68 27-May-1999 2298.09 9.15 3.75 26.49 21.40 15.47 1.76 0.10 49.97 20.83 2.38 26.82
UTI Balanced Fund - Growth 150.58 20-Jan-1995 1694.80 9.23 5.99 26.36 16.64 16.07 1.59 0.07 45.67 23.77 2.63 27.94
HDFC Balanced Fund - Growth 129.11 11-Sep-2000 7930.16 8.13 5.87 25.80 21.47 16.75 1.59 0.08 43.62 22.43 1.02 32.93
Kotak Balance - Growth 22.08 05-Nov-2014 531.57 9.13 5.43 25.72 N.A 9.82 1.59 0.10 35.69 26.31 4.15 33.84
Mirae Asset Prudence Fund - Reg - G 11.89 29-Jul-2015 327.97 10.53 6.63 25.68 N.A 11.21 1.62 0.09 67.83 4.48 N.A 27.69
BALANCED
18
SMC Employees participating in “Newspaper fancy dress competition” held on 10th March 2017
at the head office in New Delhi.
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Now with SMC's Portfolio Health Check-Up tool, It is easy to gauge the health of your equityand mutual funds. Financial health and professional recommendations are just a click away.
ORLANDO
NSE INB/INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432 INE 260771431, CDSL/NSDL-IN-DP-130-2015 (SMC Global Securities Ltd.)
Investment in securities market are subject to market risks, read all the related document carefully before investing • Award sources: Skoch-BSE Market Leadership Awards 2016 •
Best NBFC of the year (Northern Region) – 2016 received by Money Wise Financial Services Pvt. Ltd. (a wholly owned subsidiary of SMC Global Securities Ltd.) • Assocham Excellence Awards 2016 •
ABP News Real Estate Awards 2015 • BSE IPF-D&B Equity Broking Awards 2014, 2013 & 2012 • Market Analyst Awards - Zee Business 2014.
