smc global weekly news letter (wisemoney)
DESCRIPTION
It is a weekly newsletter, which is an epigrammatic on investment opportunities escorted by sound technical and fundamental analysis of existing and forthcoming stocks that keep investors updated about the market developments. It includes all the segments say Equity, Commodity, Mutual Fund, Currency and Fixed Deposits. It is a complete handy guide, which helps all the investors to multiply their wealth.TRANSCRIPT
Bra
nd
sm
c 2
51
2014: Issue 428, Week: 23rd - 26th JuneA Weekly Update from SMC
(For private circulation only)
(Saurabh Jain)
Contents
Equity 4-7
Derivatives 8-9
Commodity 10-13
Currency 14
IPO 15
Fixed Deposit 16
Mutual Fund 17-18
EDITORIAL STAFF
Editor Saurabh Jain
Executive Editor Jagannadham Thunuguntla
+Editorial Team
Dr. R.P. Singh Nitin Murarka
Vandana Bharti Sandeep Joon
Dinesh Joshi Vineet Sood
Shitij Gandhi Dhirender Singh Bisht
Subhranil Dey Parminder Chauhan
Ajay Lakra Mudit Goyal
Content Editor Kamla Devi
Graphic Designer Pramod Chhimwal
Research Executive Sonia Bamba
REGISTERED OFFICES:
11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.
Tel: 91-11-30111000, Fax: 91-11-25754365
MUMBAI OFFICE:
Dheeraj Sagar, 1st Floor, Opp. Goregaon sports Club, Link Road
Malad (West), Mumbai 400064
Tel: 91-22-67341600, Fax: 91-22-28805606
KOLKATA OFFICE:
18,Rabindra Sarani, Poddar Court, Gate No-4,
5th Floor, Kolkata-700001
Tel : 91-33-39847000 Fax No : 91-33-39847004
AHMEDABAD OFFICE :
10/A, 4th Floor, Kalapurnam Building, Near Municipal Market,
C G Road, Ahmedabad-380009, Gujarat
Tel : 91-79-26424801 - 05, 40049801 - 03
CHENNAI OFFICE:
Salzburg Square, Flat No.1, III rd Floor, Door No.107, Harrington Road,
Chetpet, Chennai - 600031.
Tel: 044-39109100, Fax -044- 39109111
SECUNDERABAD OFFICE:
206, 3rd Floor, above CMR Exclusive, Bhuvana Towers, S.D.Road,
Secunderabad - 500003
Tel: 91-40-30780298/99, 39109536
DUBAI OFFICE:
312, Belshalat Building, Al Karama, Dubai, P.O. Box 117210, U.A.E.
Tel: 97143963120, Mobile : 971502612483
Fax : 9714 3963122
Email ID : [email protected]
Printed and Published on behalf of
Mr. Saurabh Jain @ Publication Address
11/6B, Shanti Chamber, Pusa Road, New Delhi-110005
Website: www.smcindiaonline.com
Investor Grievance : [email protected]
Printed at: S&S MARKETING
102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Ph.: +91-11- 43035012, 43035014, Email: [email protected]
lobal stock markets saw mild gains amid dovish statements from U.S.
Federal Reserve Chairwoman Janet Yellen during the week. In the Gmonetary policy review meeting, Fed decided to cut monthly bond
purchases by $10 billion to total $35 billion a month and said that the interest
rates would remain low for a considerable time. Meanwhile, rising crude prices as
an outcome of unrest in Iraq continues to be worry factor. Economic data out of
U.S., including Jobless claims, consumer confidence, etc. suggested that the
economy is strengthening. Lower demand from the U.S. and Asia led to fall in
Japanese exports for the first time in 15 months.
Back at home, Modi led government is coming out with various measures to check
inflation that includes selling of 25% of rice stock piles to allow famers to sell
their produce anywhere in India than only in state controlled markets, etc. As a
matter of fact wholesale inflation for the month of May rose to 5 months high to
6.01%, largely led by higher prices of food articles. Probability of low rains owing
to El-nino is the major concern for the government as it could further escalate
already high inflation and can jeopardize the fiscal and monetary actions
necessary for growth. To add to this rising international crude prices have raised
concerns with regards to current account deficit and fiscal deficit as India
imports nearly 70% of its crude requirements. Indian stock markets are looking
tired at the moment, albeit stock specific movement would remain. In this
month, foreign investors pumped more than Rs 11,000 crore into the Indian
equities on account of positive bias after the polls and reform- oriented decisions
taken by the new government. The correction, which seems to have just started
in the domestic market, is surely an opportunity for the investors to build long
term portfolios.
On the commodities front, the geopolitical situation continues to be the main
driver of oil, which can move higher on the growing tensions in Iraq. Safe haven
demand and tumbling greenback will keep the buying interest in bullion counter.
Shrinking stockpiles amid declining output along with positive economic data
from China and US will push the base metals complex higher in the near term.
Recently at the conclusion of its two day meeting, the Federal Reserve cut its
bond purchases by another $10 billion a month, to $35 billion, saying there was
"sufficient underlying strength" in the U.S. economy to continue tapering.
Meanwhile GDP of US and UK, and CPI of Japan are few events which can give
some directions to the commodities. In agri counter, soya complex may continue
to remain on the weaker side on sluggish demand and lower crushing on disparity.
The divergence in prices at the international and domestic market is likely to
continue further. Meanwhile, FMC has curbed futures trading in potato contracts
for July, August and September in order to check prices by disallowing fresh
positions and hiking deposit amount on buyers.
From The Desk Of Editor
NEWS
DOMESTIC NEWSEconomy•India's leading economic index rose 0.7 percent monthly in May, after a 1.4
percent increase in April. In March, the index moved up 0.3 percent. Out of the eight components, seven of them contributed positively during the month.
•India's wholesale price index rose 6.01 percent year-on-year in May, faster than the 5.2 percent increase seen in April. The rate was forecast to rise moderately to 5.4 percent.
Hotel & Resorts•Mahindra Holidays & Resorts India announced that the Company has purchased
100% equity share capital of M/s. Competent Hotels (CHPL), which owns a Resort comprising of 60 rooms in Manali, Himachal Pradesh. Consequent to this, CHPL has become wholly owned subsidiary of the Company.
Automobile•Maruti Suzuki India announced the commissioning of its 1 MW mono-
crystalline photovoltaic solar power plant at its Manesar facility this month. Build with an investment of `10.3 crore, the 1 MW mono-crystalline photovoltaic solar power plant will help the Company offset CO2 emissions to the tune of over 1200 tonnes annually.
Capital Goods•Suzlon Energy announced that the Suzlon Group has received the Notice to
Proceed (NTP) from CPL India, a leading investor-owned power business in Asia and one of the largest foreign investors in the Indian power sector, for a 100.8 MW wind power project.
Information Technology•HCL Technologies announced that its customer, Purdue Pharma L.P, a
leading pharmaceutical company has extended its end-to-end IT Infrastructure Management engagement with HCL, marking an important milestone for the strategic partnership signed in year 2010.
•Moser Baer (India) announced that its subsidiary Moser Baer Solar, etched a new landmark by commissioning a 32.2 MW solar farm in a record time of 39 days operating at an optimum generation efficiencies from day 1 of its operations. The project is located Charanka Solar park, Gujarat and is spread over 225 acres.
•Wipro has won a transformational IT applications and infrastructure contract from 7-Eleven, a leading convenience store chain in Australia.
Pharmaceutical•Cipla has collaborated with Hetero Drugs to launch a biosimilar version of
'Darbepoetin alfa' under the brand name 'Actorise'. The co-marketing deal offers Cipla a license to make the drug for Indian market. The product is indicated for the treatment of anaemia caused due to chronic kidney disease.
Consumer Durables•Whirlpool of India is targeting up to 12% growth in turnover at ̀ 3,700 crore
in the current fiscal on the back of new product launches including hi-end kitchen appliances and prudent cost management.
Metal•Pennar Industries have bagged orders worth `105 crore. The companies
received these orders from Ultratech, Reliance Industries, Abhir Infra, Integral Coach Factory, BGR Energy, JSW and SRK Engineering, among others.
Miscellaneous •Network 18 Media & Investments announced that the Company along with
Accel Partners and SAIF Partners has invested `150 crore in Bigtree Entertainment which owns India's leading online entertainment ticketing brand, BookMyShow.
INTERNATIONAL NEWS•The Federal Open Market Committee (FOMC) reduced the pace of monthly
asset purchases by $10 billion to $35 billion, as expected. The central bank will add to its holdings of agency mortgage-backed securities at a pace of $15 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $20 billion per month.
•US housing starts fell 6.5 percent to an annual rate of 1.001 million in May after jumping 12.7 percent to a rate of 1.071 million in April. Economists had expected starts to drop to a rate of 1.030 million.
•US consumer price index rose by 0.4 percent in May, the biggest monthly increase since February of 2013. Economists had expected consumer prices to edge up by about 0.2 percent following the 0.3 percent increase seen in April.
•US industrial production increased by 0.6 percent in May following a revised 0.3 percent decrease in April. Economists had expected production to climb by about 0.5 percent compared to the 0.6 percent drop originally reported for the previous month.
SoyEX-DATE SYMBOL PURPOSE
EX-DATE SYMBOL PURPOSE
23-JUN-14 INDIANB DIVIDEND RS 1.70/- PER SHARE
24-JUN-14 UCOBANK FINAL DIVIDEND - RE 1/- PER SHARE
26-JUN-14 NIITTECH FINAL DIVIDEND - RS 9/- PER SHARE
26-JUN-14 HAVELLS FINAL DIVIDEND - RS 10/- PER SHARE
26-JUN-14 IDBI DIVIDEND - RE 0.275/- PER SHARE
26-JUN-14 NIITLTD DIVIDEND RS.1.60/- PER SHARE
27-JUN-14 DABUR FINAL DIVIDEND - RE 1/- PER SHARE
27-JUN-14 VIPIND DIVIDEND - RS 1.20 PER EQUITY SHARE
30-JUN-14 ESSELPACK DIVIDEND - RE.1.25/- PER EQUITY SHARE
2-JUL-14 ECLERX DIVIDEND - RS 35/- PER SHARE
3-JUL-14 CANBK FINAL DIVIDEND RS.4.50/- PER SHARE
3-JUL-14 SOBHA DIVIDEND - RS 7/- PER SHARE
3-JUL-14 KARURVYSYA DIVIDEND RS.13/- PER SHARE
3-JUL-14 BAJAJ-AUTO DIVIDEND - RS 50/- PER SHARE
3-JUL-14 BAJAJFINSV DIVIDEND - RS 1.75/- PER SHARE
3-JUL-14 BAJFINANCE DIVIDEND RS.16/- PER SHARE
3-JUL-14 TATACOFFEE DIVIDEND - RS 13/- PER SHARE
3-JUL-14 UNICHEMLAB DIVIDEND RS 4/- PER SHARE
3-JUL-14 M&MFIN DIVIDEND - RS 3.80/- PER SHARE
4-JUL-14 KOTAKBANK DIVIDEND RE 0.80/- PER SHARE
4-JUL-14 SSLT FINAL DIVIDEND - RS 1.75/- PER SHARE
4-JUL-14 MASTEK FINAL DIVIDEND - RS 2.75/- PER SHARE
4-JUL-14 HDFC DIVIDEND - RS 14/- PER SHARE
7-JUL-14 JSWSTEEL DIVIDEND - RS 11/- PER SHARE
9-JUL-14 TATAMOTORS DIVIDEND - RS 2/- PER SHARE
9-JUL-14 CAIRN DIVIDEND RS. 6.50/- PER SHARE
9-JUL-14 TATAMTRDVR DIVIDEND - RS 2.10/- PER SHARE
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
SENSEX 25202 UP 12.09.13 19317 24400 24050
S&P NIFTY 7541 UP 12.09.13 5728 7300 7200
CNX IT 9699 UP 12.06.14 9448 9400 9200
CNX BANK 15067 UP 08.03.14 11278 14300 14000
ACC 1455 UP 15.05.14 1377 1400 1380
BHARTIAIRTEL 338 UP 22.05.14 332 340 335
BHEL 241 UP 05.09.13 138 240 235
CIPLA 426 UP 12.06.14 416 400 390
DLF 207 UP 15.05.14 160 205 200
HINDALCO 168 UP 08.03.14 121 155 150
ICICI BANK 1412 UP 08.03.14 1134 1370 1350
INFOSYS 3312 UP 19.06.14 3312 3200 - 3100
ITC 336 DOWN 22.05.14 346 345 350
L&T 1657 UP 19.09.13 888 1590 1570
MARUTI 2380 UP 19.09.13 1480 2300 2200
NTPC 153 UP 22.05.14 154 - 150
ONGC 421 UP 31.10.13 294 380 370
RELIANCE 1042 UP 13.03.14 880 1020 1000
TATASTEEL 519 UP 27.03.14 376 500 480
S/l
4
®
*NTPC has broken the support levels of 155
BSE SENSEX GAINERS & LOSERS TOP (% Change) NSE NIFTY GAINERS TOP & LOSERS (% Change)
SECTORAL INDICES (% Change)
SMC Trend
SMC Trend
FMCGHealthcare
FTSE 100CAC 40
Auto BankRealty
Cap GoodsCons Durable
Oil & GasPower
NasdaqDow jonesS&P 500
NikkeiStrait times
Hang SengShanghai
INSTITUTIONAL ACTIVITY (Equity) (` Crore)
ITMetal
Down SidewaysUp
SMC Trend
Nifty BSE Midcap S&P CNX 500
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
BSE SmallcapSensex Nifty Junior
5
®
-143.06-61.70
1250.17
67.49
326.55296.70 308.10
568.70
-400.00
-200.00
0.00
200.00
400.00
600.00
800.00
1000.00
1200.00
1400.00
Friday Monday Tuesday Wednesday Thursday
FII / FPI Activity MF Activity
6.78
4.76
3.92 3.853.33
-6.52
-4.29-3.68
-2.02 -1.73
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
GAIL (India) Asian Paints Infosys IndusInd Bank
Hindalco Inds.
United Spirits M & M Reliance Inds.
Hero Motocorp
Larsen & Toubro
6.23
4.11
3.212.73 2.63
-4.38-3.75
-1.97-1.66
-1.32
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
GAIL (India) Infosys Hindalco Inds.
TCS Cipla M & M Reliance Inds.
Hero Motocorp
Larsen & Toubro
Hind. Unilever
-0.02-0.10
0.69
1.74
0.15 0.12
-0.50
0.00
0.50
1.00
1.50
2.00
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Junior S&P CNX 500
-1.18
-0.26
-0.78
-0.37
-1.74
-0.22
0.91
1.49
2.81
0.08
-2.00
-1.50
-1.00
-0.50
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
-0.74-0.65
-2.27
1.13
0.87
1.20
1.74
0.45 0.43
-2.50
-2.00
-1.50
-1.00
-0.50
0.00
0.50
1.00
1.50
2.00
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
Beat the street - Fundamental Analysis
Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale •The company has been a trusted partner for process engineering, plant & critical equipment •Praj Industries offers innovative solutions to and systems with over 600 references across five significantly add value in bio-ethanol, alcohol, continents. Solutions offered by Praj are backed by brewery plants, process equipment and water and its state of the art R&D Center called Matrix. wastewater treatment systems for customers
worldwide. •Consolidated net profit of the company rose 24% to `20.77 crore in the quarter ended March 2014 as •The company will set up the first commercial against `16.75 crore during the previous quarter demonstration plant of ethanol production using ended March 2013. Sales rose 31.3% to ̀ 349.43 crore agricultural waste by the end of 2014. The plant in the quarter ended March 2014 as against `266.13 will have a capacity of manufacturing 50 lakh litres crore during the previous quarter ended March 2013.of ethanol a year. The company plans to set up total
two commercial demonstraion plants in ValuationMaharashtra while one site will come up overseas. Continued growth in its emerging businesses along
•The company is also exploring into bio products with the advancement of technology in the business such as livestock health and nutrition established businesses has widened the spectrum of business in South East Asian market and for human opportunities. We expect the stock to see a price health and wellness businesses in India. Capex target of ̀ 89 in one year time frame on a current P/E without second generation plant is 20-25 crore. of 22.71x and FY15 (E) earnings of ̀ 3.90.
•Company's order backlog stands at `820 crore. Out of this, 69% is domestic and 18% is emerging business such as Critical Process Equipment and Systems, Water and Waste - water Treatment Division and Praj HiPurity Systems. In Q4, order intake stood at `300 crore. 88% of it was from the domestic market and 12% was from exports. Out of the order book of ̀ 300 in Q4, ethanol accounted for 51%, brewery accounted for 29% and emerging business accounted for 20%.
•The company has recently entered into the dairy and poultry industry, which are growing consistently. It has started manufacturing neutracuticals for human and animal health.
` in cr
Actual Estimate
FY Mar-14 FY Mar-15 FY Mar-16
Revenue 985.80 1015.00 1132.60
EBITDA 78.46 90.70 111.60
EBIT 54.71 92.00 113.90
Pre-tax Profit 77.02 90.80 112.70
Net Profit 54.63 69.00 85.60
EPS 3.08 3.90 4.80
ROE 9.99 11.60 13.60
Face Value (`) 2.00
52 Week High/Low 79.15/30.00
M.Cap (`Cr.) 1240.38
EPS (`) 3.08
P/E Ratio (times) 22.71
P/B Ratio (times) 2.13
Dividend Yield (%) 2.32
Stock Exchange BSE
PRAJ INDUSTRIES LIMITED CMP: 69.90 Upside: 27%Target Price: 89
P/E Chart
Face Value (`) 10.00
52 Week High/Low 94.40/41.85
M.Cap (`Cr.) 4568.75
EPS (`) 10.06
P/E Ratio (times) 8.44
P/B Ratio (times) 0.72
Stock Exchange BSE
` in cr
Actual Estimate
FY Mar-14 FY Mar-15 FY Mar-16
Net Total Income 3421.80 3725.60 4156.90
Pre-tax Profit 258.00 896.00 1201.80
PAT 551.70 632.30 815.60
EPS 14.40 11.75 15.20
BVPS 117.71 125.40 135.30
ROE 9.52 9.40 11.20
% OF SHARE HOLDING
Investment Rationale or 36.5% of restructured advances book of `7637 crore is backed by government guarantees. •Total Business of the bank grew by 15.27 % on y-o-
y basis to `1,88,650 crore as on 31 March 2014 as •The bank proposes to open new 150-200 branches compared to `1,63,664 cr as on 31 March 2013 . in FY2015. Bank also intends to recruit about 1637 The bank is targeting a growth of 20% in the staff in FY2015. During the quarter ended March business during FY 2014-15. 2014, the Bank opened 100 Branches across the
country.•NIM of the bank eased to 2.52% in FY2014 from 2.80% in FY2013, mainly on account of interest Valuationincome reversals with fresh slippages of New branch addition will benefit the bank in terms of advances. The interest income reversals stood at improvement in business growth. The CASA ratio will `75 crore in FY2014 and `32 crore in Q4FY2014. also increase thereby improving the NIM of the bank. The bank proposes to improve the NIM to 2.60- The bank is selling its bad assets to ARCs which has 2.65% in FY2015. It expects the heavy provisions helped the bank to improve its GNPA ratio. The bank on MTM investment depreciation and bad loans to expects provisioning on MTM investment be absent in FY2015 supporting the bottomlines. depreciation and bad assets to decline significantly
•Gross NPA ratio of the bank stood at 3.33% as on going forward this would led to improvement in the March 2014 as compared to 2.19% during the same overall profitability. Thus, we expect the stock to see period previous year. The Net NPA ratio of the a price target of `113 in one year time frame on a bank was at 2.35% as on March 2014 as compared target P/B of 09x and FY15 (E) book value per share of to 1.39% during the same period previous year. `125.4.
•Bank sold about `543 crore of bad loans to Asset Reconstruction Companies (ARCs) during Q4FY2014, helping to reduce the GNPA. Bank is also planning to sale more bad loans to ARCs in FY2015. Bank proposes to reduce the GNPA ratio below 3% by end March 2015.
•The Capital Adequacy Ratio under Basel III norms stood at 11.14 % as of March, 2014 with Tier I at 7.43%, as compared to 10.47% with Tier I at 6.96% as of March, 2013. Provision Coverage Ratio for the quarter is 56.44%.
•The outstanding restructured advance book of the bank stood at ̀ 7637 crore at end March 2014 from `5423 crore at end March 2014. About ̀ 2861 crore
P/B Chart
DENA BANK LIMITED CMP: 84.95 Upside: 33%Target Price: 113
VALUE PARAMETERS
10.386.95
12.94
32.96
36.78
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
7.5617.02
2.62
58.01
14.8
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
6
®
Charts by Spider Software India Ltd
7
The stock closed at ̀ 55.60 on 20thJune 2014. It made a 52-week low at ̀ 39.50 on
04th September 2013 and a 52-week high at `67.70 on 19th June 2013. The 200
days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 59.95.
After forming low of around 45 levels, it finally rebounded and touched its 200
EMA, which is near to 60 levels but could not sustain and fell marginally. Last
week, it tried to breach its diagonal trend line and was successful in giving a
close above it which indicates that it has still potential to move upwards in the
near term. So, one can buy in the range of 53-54 levels for the upside target of
61-62 levels with closing below SL of 49.
EQUITY
Above calls are recommended with a time horizon of 1-2 months
The stock closed at ̀ 128.60 on 20th June 2014. It made a 52-week low at ̀ 76.10
on 28th August 2013 and a 52-week high at ̀ 147.65 on 19th June 2013. The 200
days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 128.56.
It has formed higher high and higher lows formation and the positive momentum
is still intact, so we anticipate that it will continue its upward journey in the
short term. So, one can Buy in the range of 126-127 levels for the upside target
of 138-142 levels with closing below SL of 120.
The stock closed at 55.05 on 20th June 2014. It made a 52-week low at 33.35
on 28th August 2013 and a 52-week high of `58.75 on 26th May 2014. The 200
days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 50.85.
It has formed double bottom at lower levels and there is no looking back. It may
continue its rally due to its sustainability above its 200 EMA which acts as a
crucial support. One can Buy in the range of 53-54 levels for the upside target of
62-63 levels with closing below SL of 49.
` `
DISHTV
VIJAYA BANK
IDFC
®
DERIVATIVES
BASIS GAP IN NIFTY
The domestic markets were range-bound and mostly under pressure around its resistances of 7600. Friday's trade witnessed selling pressure, with the Index
ending the week on a marginally negative note. The range of 7400-7600 will remain crucial in the near term. The market is expected to remain range bound to
negative this week. If the Index sustains below the 7500 mark, it could fall sharply to 7400 levels. On the other hand, a sustained move beyond 7550 levels is
extremely crucial to determine any further uptrend in the broader index. The put-call ratio of open interest closed at 0.89. The options' open interest
concentration continues to be at the 7500-strike put option, with open interest of above 54 lakh. Among call options, the highest open interest continues at the
7600 strike, with aggregate open interest of above 65 lakh shares. The implied volatility (IV) of call options closed at 17.57% on Friday, while the average IV of put
options closed at 17.80%. However, in our view, in the current scenario, the Index is expected to see stiff resistance around 7550-7600 levels, while sustenance
below the 7500 levels should take the Nifty down towards 7400 levels.
WEEKLY VIEW OF THE MARKET
NIFTY TOTAL OPEN INTEREST (in share)
®
FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS
(Derivative segment) `(Cr)
INDUSINDBK (JUN FUTURE)
Buy: Above `561
Target: `583
Stop loss: `553
JSWSTEEL
Buy JUN 1200. PUT 13.00
Sell JUN 1180. PUT 7.50
Lot size: 250
BEP: 1194.50
Max. Profit: 3625.00 (14.50*250)
Max. Loss: 1375.00 (5.50*250)
OPTIONSTRATEGY
FUTURESTRATEGY
PFC
Buy JUN 300. CALL 7.70
Sell JUN 310. CALL 4.00
Lot size: 2000
BEP: 303.70
Max. Profit: 12600.00(6.30*2000)
Max. Loss: 7400.00 ( 3.70*2000)
IDBI
Buy JUN 100. PUT 1.75
Sell JUN 95. PUT 0.65
Lot size: 4000
BEP: 98.90
Max. Profit: 15600.00 (3.90*4000)
Max. Loss: 4400.00 (1.10*4000)
BULLISH STRATEGY
DERIVATIVE STRATEGIES
BAJAJ-AUTO (JUN FUTURE)
Buy: Above `2189
Target: `2253
Stop loss: `2163
ULTRACEMCO (JUN FUTURE)
Sell: `2694
Target: `2624
Stop loss: `2724
Below
BEARISH STRATEGY
FIIs ACTIVITY IN INDEX FUTURE (F&O) IN LAST WEEK
(Derivative segment) `(Cr)
78.16
216.13
-574.76
-189.73
-460.67
-700.00
-600.00
-500.00
-400.00
-300.00
-200.00
-100.00
0.00
100.00
200.00
300.00
13-Jun 16-Jun 17-Jun 18-Jun 19-Jun
-828.90
-105.21
737.80
477.81368.21
759.85
215.30
469.77353.44
1005.76
-1000.00
-500.00
0.00
500.00
1000.00
1500.00
06-Jun 09-Jun 10-Jun 11-Jun 12-Jun 13-Jun 16-Jun 17-Jun 18-Jun 19-Jun
0
5
10
15
20
25
30
05-Jun 06-Jun 09-Jun 10-Jun 11-Jun 12-Jun 13-Jun 16-Jun 17-Jun 18-Jun 19-Jun
1060200
227050
700950
1241500
1720300
4591700
68490006689750
5952200
2848800
5336950
4701800
2913600
3648550
4316750
44257505110650
3081050
1057750
387750
84700
624200
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
7000 7100 7200 7300 7400 7500 7600 7700 7800 7900 8000
Call Put
8
9
BHARTIARTL 16203000 14094000 -13.02 0.26 0.29 0.02 39.57 35.52 -4.05
DLF 33408000 32652000 -2.26 0.46 0.52 0.06 71.35 57.35 -14.00
HINDALCO 25130000 25802000 2.67 0.54 0.64 0.10 54.75 52.43 -2.32
HINDUNILVR 8494000 8178000 -3.72 0.55 0.54 -0.01 34.65 28.99 -5.66
ICICIBANK 11654500 11901250 2.12 0.54 0.39 -0.15 29.76 34.16 4.40
IDEA 37772000 36616000 -3.06 0.30 0.26 -0.03 39.95 39.88 -0.07
INFY 4479125 4060625 -9.34 0.49 0.69 0.19 37.23 31.08 -6.15
ITC 28662000 27443000 -4.25 0.29 0.33 0.04 25.34 26.66 1.32
JPASSOCIAT 105184000 107512000 2.21 0.32 0.32 0.00 67.18 64.16 -3.02
NTPC 62040000 62682000 1.03 0.31 0.33 0.02 48.17 45.79 -2.38
ONGC 18281000 19706000 7.79 0.32 0.41 0.09 57.73 51.80 -5.93
RANBAXY 7281000 6905000 -5.16 0.46 0.56 0.10 31.11 31.19 0.08
RCOM 42136000 39236000 -6.88 0.35 0.34 -0.01 50.79 54.98 4.19
RELIANCE 16732250 18266000 9.17 0.36 0.30 -0.06 32.56 31.57 -0.99
NIFTY 15133600 14211850 -6.09 0.96 0.89 -0.07 16.85 17.42 0.57
SAIL 51388000 52596000 2.35 0.34 0.30 -0.04 66.05 53.46 -12.59
SBIN 4560250 4324125 -5.18 0.59 0.51 -0.08 42.25 35.31 -6.94
TATASTEEL 12589000 13439000 6.75 0.75 0.62 -0.13 40.45 39.96 -0.49
IMPORTANT INDICATORS OF NIFTY AND OTHER ACTIVE FUTURE CONTRACTS
OPEN INTEREST PCR RATIO IMPLIED VOLATILITY
# SCRIPTS PREV. CURRENT % PREV. CURRENT PREV. CURRENT WEEK WEEK CHANGE WEEK WEEK CHANGE WEEK WEEK CHANGE
#
DERIVATIVES
Put Call Ratio Analysis : The Put-Call open interest ratio of Nifty hasdecreased
to 0.89from0.96. At the end of the week, the maximum stocks had a positive of
change in put call open interest ratio.
Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week
hasincreased to17.42% from 16.85%.The IV of the stock futures has changed this
week ranging from -14% to 4.4%.
Open Interest Analysis : The open interest for the index at the end of this week
has decreasedby 6.09%as compared to the previous week. All future stocks saw
changes in their open interest ranging from -13.02% to9.17%.RELIANCEhas the
maximum increase in open interest as compared to other stocks.
Statistical Analysis·
Open 7677.00 High 7682.00
Low 7513.00 Close 7560.10
NIFTY & IV CHART NIFTY ANALYSIS
®# 30 Days ATM IV
12
15
18
21
24
27
7500
7600
7700
7800
13-Jun 16-Jun 17-Jun 18-Jun 19-Jun
Nifty Close IV
Chilli futures (July) is expected to take support above 9400 levels. However, the upside may remain limited near 9800 levels. The fundamentals depict that about 50 - 55 lakh bags are stored in the Guntur cold storage. The sowing process in the current year has started in Karnataka districts with mainly land preparation in progress and transplanting in progress in growing regions. Normally planting starts from the first week of July and extending until September. This season, the sowing area in the current year is likely to depend on coming monsoon. The upside bias in turmeric futures (July) might get extended towards 6650 levels, surpassing 6535 levels. The spot prices have increased due to arrival of good quality. The stockists are getting interested to buy larger quantities in order to meet the demand from North India and masala firms. At the Erode Turmeric Merchants Association, the finger turmeric was sold at `4,206-6,316 a quintal, the root variety at `4,534-6,191. Jeera futures (July) is expected to trade in the range of 10650-11150 levels. At the spot markets, the farmers were not getting interested in releasing their produce at low prices on expectations of higher prices in coming lean season. Cardamom futures (July) is likely to remain below 940 levels. In the current scenario, the exporters are inactive following slack demand in the international market. Major markets such as Saudi Arabia and other Gulf countries appear to get their supplies from Guatemala at competitive prices when Indian prices are ruling high. Back at home, during the current season, arrivals stood at 20,610 tonnes against 14,377 tonnes as on June 15 during the last season.
SPICES
Bullion counter may continue last week upside momentum as decline in greenback and geopolitical tensions in Iraq increased safe haven appeal. On the domestic bourses, movement of local currency rupee will impact the movement of bullion counter which can move in the range of 59.80-60.8 levels. Geopolitical tensions in Iraq and Ukraine may give further direction to the prices. Gold may move in the range of 26800-28500 in MCX. White metal silver can hover in the range of 41500-46000. Recently bullions got support as the Federal Reserve stated that U.S. interest rates will remain low, driving the dollar down and boosting demand for the metals as alternative investments. The Federal Open Market Committee cut asset purchases at the end of a two day meeting for the fifth straight time. Fed participants estimated long term growth for the U.S. economy of 2.1 percent to 2.3 percent, compared with 2.2 percent to 2.3 percent in March and 2.5 percent to 2.8 percent in January 2010. Bullion climbed 70 percent from December 2008 to June 2011 as the Fed bought debt and held borrowing costs near zero percent, boosting inflation concerns. Meanwhile, conditions unfolding in Iraq will be the biggest factor to affect bullions. President Barack Obama will send as many as 300 U.S. military advisers to assist the Iraqi army battle an insurgency and is prepared to take additional “targeted” action if necessary. According to China Gold Association, “Private sector gold demand in China, which last year surpassed India to become the world's biggest consumer of the yellow metal, will be flat to slightly lower this year”
BULLIONS
10
®
The base metals pack may remain on sideways with upside bias as better economic data from the US and China along with falling greenback is supporting the prices. Meanwhile, in China, Premier Li Keqiang pledged to meet China's target for economic expansion this year and ruled out a hard landing. Red metal, copper can trade in the range of 404-425 levels. China's probe into metals stockpiled at Qingdao Port may spur the migration of copper to near-empty London Metal Exchange warehouses in neighboring countries as banks grow wary of lending money against commodities. The investigation into whether a Chinese trader used the same batches of metals, multiple times to get bank loans risks undermining the attractiveness of offering credit to companies that pile commodities inventory into bonded warehouses in China. Copper is among the major raw materials used in commodity backed financing in the country, the biggest user of metals. Aluminum can move in the range of 107-115 levels. Cash premium of Aluminum has been rising rapidly in the global market supporting the underlying to trade higher. European spot aluminum premium rose to a record $415-435/ tonnes, from $380-425/tonnes in the past 3 weeks. Battery metal lead can move in the range of 124-133 levels in MCX. Zinc can hover in the range of 125-133 levels. Stockpiles tracked by the LME have dropped 28 percent this year to the lowest since December 2010. Tokyo based Toho Zinc Co. said last month it will cut output of semi-processed ore at its Australian mines. Nickel prices may hover in the range of 1080-1180 levels in MCX.
BASE METALS
Upside momentum in crude oil prices can continue further as tensions in Iraq and Middle East can give support to the prices. Crude oil prices may trade in the range of 6300-6600 levels in MCX and $104-111 in NYMEX. Last week, Iraqi security forces regained control of the Baiji oil refinery, the country's biggest, as President Obama told top U.S. lawmakers that he won't need additional congressional approval for the options he's considering in response to the crisis. Iraq is the second largest member of the Organization of Petroleum Exporting Countries pumped 3.3 million barrels a day. Iraqi Prime Minister Nouri al-Maliki, who has requested U.S. air power to stop the violence, warned that the insurgency could spread into neighboring countries. Meanwhile, summer driving season is also supporting the prices. Meanwhile, according to the Energy Information Administration, “U.S. crude inventories fell by 579,000 barrels last week” Natural gas prices may move on a mixed note in the range of 265-296 levels in MCX. Meanwhile, the U.S. Energy Information Administration mentioned in its weekly report that natural gas storage in the U.S. in the week ended June 13 rose by 113 billion cubic feet, above forecasts for an increase of 110 billion cubic feet. Updated weather forecasting models showed that warmer weather was expected in the U.S. Central and East over the next five days before cooling in the East over the next six to 10 days. Demand for natural gas tends to rise in the summer months as warmer temperatures increase the need for gas fired electricity to power air conditioning.
ENERGY COMPLEX
The downside in soybean futures (July) is likely to get extended towards 3900 levels. Weak soybean crushing and sluggish soy meal export sales remained negative for the beans. India's uncompetitive soy meal price as compared to the South America, has badly hit the India's meal export sales. Currently it has nearly come to halt. The international soy meal demand has diverted to South-America with the competitive South-American meal. Soy meal, export prices, FOR Kandla, fell to ̀ 39,000/MT. On the contrary, the U.S soybean futures (Nov) is expected to take support above 1200 levels supported by bargain buying and short covering. The market participants are seeing the counter as technically oversold, hence getting interested in buying the beans taking advantage of the sharp fall during the past two months on easing supply concerns and expectations for a big harvest this fall. Mustard futures (July) is likely to remain steady taking support above 3450 levels as the arrivals at the spot markets are declining. Mustard prices in the physical market have been ruling at ̀ 4,000-4,100 a quintal while raida ruled at ̀ 3,000. The plant deliveries for Jaipur line ruled at `3,545-50 a quintal. Mustard oil across mandis in Madhya Pradesh, Rajasthan and Gujarat has been rallying high for the past one week on improved buying. CPO futures (July) is expected to trade in the range of 515-530 levels. The Malaysian palm oil futures are seen gaining grounds taking support above 2430 levels on borrowed strength from crude oil. Heightened tensions could force Baghdad to import more oil products to meet its own domestic needs, further tightening energy markets and in turn boosting palm oil prices.
OIL AND OILSEEDS
OTHER COMMODITIES
Wheat futures (July) is expected to consolidate in the range of 1500-1540 levels, with upside getting capped. The spot prices of wheat are under pressure due to diminished demand from overseas markets and selling intention of stockist in the domestic market as export parity turned into negative with cheaper offerings from the Black Sea region. The latest FOB quotes from Russia are said to be in the range of $245 to $247 per tonne, US $237 against $265/270 per tonne in India. The downside in Chana futures (July) might get further extended towards 2700 levels, owing to bearish sentiments of higher arrivals, supplies of inferior quality to the spot markets & steady imports. It is reported that about 11 containers of chana,2 containers of green peas and 38 containers of masoor arrived on June 18,2014. Moreover, fresh supplies of Moong in the major mandies of Uttar Pradesh are expected to reduce the millers demand for the nuts in local mandies. Sugar futures (July) is likely to trade in the range of 3010-3070 levels. Sentiments in physical markets are steady, supported by the demand from local stockits. On the supply side, the Vashi market carries about 115 – 120 truckloads of inventory. Kapas futures (Apr '15) would possibly hold the upside taking support above 945 levels. Currently good demand is being noticed in the spot market and supply is lagging due to season ending. Exports for MY 2013/14 have been revised to 9.2 million 480 lb bales to reflect the strong pace of shipments that has continued in May. The MY 2013/14 consumption estimate has been revised 500,000 480 lb bales higher to 23.5 million 480 lb bales.
11
TECHNICAL RECOMMENDATIONS
COMMODITY
ALUMINIUM MCX (JUNE) contract closed at `111.85 on 19th June '14. The contract made its high of
`112.90 on 9th June '14 and a low of ̀ 102.75 on 20th May '14. The 18-day Exponential Moving Average of
the commodity is currently at ̀ 109.49. On the daily chart, the commodity has Relative Strength Index (14-day) value of 60. One can buy in the
range 111-110 with the stop loss of ̀ 109 for a target of ̀ 115.
NICKEL MCX (JUNE) contract closed at 1115.70 on 19th June '14. The contract made its high of
`1285.40 on 12th May '14 and a low of ̀ 1047.30 on 12th June '14.The 18-day Exponential Moving Average
of the Commodity is currently at ̀ 1120.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 48.85.One can buy in
the range 1100-1090 with the stop loss of ̀ 1070 for target of ̀ 1135.
`
CRUDE OIL MCX (JULY) contract closed at 6410.00 on 19th June '14. The contract made its high of
`6468.00 on 18th June '14 and a low of ̀ 5950.00 on 5th May '14.The 18-day Exponential Moving Average
of the Commodity is currently at ̀ 6256.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 72. One can buy in the
range 6385-6360 with the stop loss of ̀ 6330 for a target of ̀ 6500.
`
®
ALUMINIUM MCX (JUNE)
NICKEL MCX (JUNE)
CRUDE OIL MCX (JULY)
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 JULY 4046.00 05.06.14 DOWN 4401.00 - 4250.00 4400.00
NCDEX JEERA JULY 10830.00 22.05.14 UP 11125.00 10500.00 - 10200.00
NCDEX CHANA JULY 2826.00 15.05.14 DOWN 3233.00 - 3200.00 3300.00
NCDEX RM SEEDS JULY 3537.00 06.03.14 UP 3564.00 3400.00 - 3300.00
MCX MENTHA OIL JULY 780.90 29.05.14 SIDEWAYS
MCX CARDAMOM JULY 908.10 29.05.14 DOWN 907.60 - 950.00 980.00
MCX SILVER JULY 44311.00 19.06.14 UP 44311.00 41500.00 - 40000.00
MCX GOLD AUGUST 27611.00 19.06.14 UP 27611.00 26800.00 - 26000.00
MCX COPPER JUNE 408.95 13.03.14 DOWN 399.60 - 412.00 416.00
MCX LEAD JUNE 127.40 12.06.14 SIDEWAYS
MCX ZINC JUNE 129.40 23.04.14 UP 126.45 124.00 - 121.00
MCX NICKEL JUNE 1115.70 15.05.14 SIDEWAYS
MCX ALUMINUM JUNE 111.85 01.05.14 DOWN 106.35 - 112.00 114.00
MCX CRUDE OIL JULY 6410.00 12.06.14 UP 6290.00 6200.00 - 6100.00
MCX NATURAL GAS JULY 279.20 15.05.14 SIDEWAYS
TREND SHEET
Closing as on 19.06.14
COMMODITY
NEWS DIGEST
The week gone by was a week of event risks, which kept investors on their toes. As per the market
expectation Fed policy makers trimmed bond-buying by $10 billion for a fifth straight meeting, to
$35 billion, keeping it on pace to end the program later this year. Fed also has made it clear that it
will keep rates low for now. Dollar index moved down and safe haven buying returned to the
bullion counter. Geopolitical tensions in Iraq also added premium in gold. Silver followed the
footsteps of gold. Depreciation in rupee also resulted in more volatility in commodity. Despite
tensions in Iraq, crude rally slowed down on profit booking at higher levels, but the premium
between Brent and sweet crude rose. Brent oil rose to a nine-month high as Iraqi issue at the same
time WTI fell, widening the discount to the European grade, after supplies increased at Cushing,
Oklahoma. It rose to $8.67. U.S. crude production increased 17,000 barrels a day to 8.477 million,
the most since October 1986. The second most important commodity of energy counter, natural
gas shed more gains. Buying stimulated in industrial metals last week. Zinc and aluminium stole
the shine among all the base metals.
In agri commodities, castor performed really well. Supply side was tight and planters were facing
difficulties to get desired quantity of seed. Sellers are unwilling to sell at current prices. Overall
sentiments in the market remain firm. Steady sentiments recorded in various key markets of
Mentha oil. This year mentha coverage is likely to be down by around 20-25% from last year due to
crop shift and also lower price realization in the previous year. In spices, jeera, cardamom and
chilli traded sideways to weak. Jeera was bearish on higher arrivals. Dull trading was witnessed
in cardamom also. Buyers were unresponsive at higher levels; they were waiting for new crop in
coming days. Guar product exports are not picking up due to good competition from Pakistan and
strong Rupee, which dragged the guar exports downwards on M-o-M basis. Due to dull exports,
guar shed some of its gain last week. RM seed slightly gained tracking strength in BMD CPO.
Soybean recorded a sharp fall in the past few weeks' losses in the benchmark market CBOT. Weak
soyabean crushing and sluggish soyameal export also weighed on the prices. The wheat cash
market continued to reel under pressure due to diminished demand from overseas market and
selling intention of private stockist in the domestic market.
WEEKLY COMMENTARY
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
COMMODITY UNIT 12.06.14 19.06.14 DIFFERENCEQTY. QTY.
BARLEY MT 9854 9854 0CASTOR SEED MT 151500 155488 3988CHANA MT 119433 120018 585CORIANDER MT 480 500 20COTTONSEED OILCAKE MT 70840 62975 -7865GUARGUM MT 6468 6963 495GUARSEED MT 4875 5602 727JEERA MT 1854 1728 -126MAIZE MT 19232 19856 624RAPE MUSTARD SEED MT 84874 82655 -2219SOYABEAN MT 13986 29776 15790SUGAR MT 26650 27890 1240TURMERIC MT 480 520 40WHEAT MT 7057 7659 602
COMMODITY UNIT 12.06.14 19.06.14 DIFFERENCE
QTY. QTY.
CARDAMOM MT 14.50 15.60 1.10
KAPASIA KHALLI BALES 1335.82 99.10 -1236.72
GOLD KGS 65.00 45.00 -20.00
GOLD MINI KGS 7.10 7.10 0.00
GOLD GUINEA KGS 16.96 16.96 0.00
MENTHA OIL KGS 1043874.30 1156314.50 112440.20
MILD STEEL MT 0.00 0.00 0.00
SILVER (30 KG Bar) KGS 8930.26 8749.25 -181.02
•Gold jewellery exports from India are likely to grow by
a quarter in the year to March 2015.
•US Consumer prices recorded their largest increase in
more than a year in May as costs for a range of goods
and services rose.
•The IMF forecast economic growth of 2 percent this
year, below the 2.8 percent rate it predicted in April.
•Libya's western El Feel oilfield has resumed production
after security guards ended a protest that lasted more
than two months.
•Sowing of Kharif Crops Begins; It is reported that as on
13.6.2014, rice has been sown/transplanted in 2.38
lakh ha, pulses in 2.42 ha and oilseeds in 0.78 lakh ha.
The planting of sugarcane and cotton is in progress.
Sugarcane has been planted in 43.52 lakh ha and cotton
in 17.34 lakh ha as on 13-June, 2014. – Ministry of
Agriculture
•No fresh positions shall be allowed in July, August and
September 2014 contracts of Potato with immediate
effect on MCX. Further, 25% Special (Cash) margin shall
be imposed on long (buy) side for all contracts of
Potato with effect from June 23, 2014.
•Exports of Malaysian palm oil products during June 1-20
fell 5.8 percent to 806,303 tonnes from the 856,128
tonnes shipped during May 1-20 - Cargo Surveyor
Intertek Testing Services.
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
®
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
8.97
5.82
4.103.70
3.29
-6.84
-2.70-2.31
-1.94
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
KAPASKHALI SILVER ZINC MINI GOLD NICKEL M POTATO NATURAL GAS CARDAMOM MENTHA OIL
3.84 3.81
3.05
2.36 2.35
-5.53
-4.43
-2.34
-1.70-1.46
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
SILVER HEDGE GOLD NEW RBD PALMOLEIN CASTOR SEED 1 MT
SILVER NEW SOYABEAN SOYAMEAL JEERA GUAR SEED GUAR GUM
COMMODITY
COMMODITY EXCHANGE CONTRACT 13.06.14 19.06.14 CHANGE%
ALUMINIUM LME 3 MONTHS 1845.00 1889.00 2.38
COPPER LME 3 MONTHS 6655.00 6725.00 1.05
LEAD LME 3 MONTHS 2085.50 2129.00 2.09
NICKEL LME 3 MONTHS 18070.00 18550.00 2.66
ZINC LME 3 MONTHS 2088.00 2153.00 3.11
GOLD COMEX AUG 1274.10 1314.10 3.14
SILVER COMEX JULY 19.66 20.65 5.05
LIGHT CRUDE OIL NYMEX AUG 106.17 106.05 -0.11
NATURAL GAS NYMEX AUG 4.75 4.60 -3.05
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
12.06.14 19.06.14
ALUMINIUM 5140000 5100000 -40000
COPPER 166750 160675 -6075
NICKEL 286752 305970 19218
LEAD 190775 192575 1800
ZINC 694650 677450 -17200
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 13.06.14 19.06.14 CHANGE(%)
Soya CBOT NOV Cent per Bushel 1221.25 1227.25 0.49
Maize CBOT JULY Cent per Bushel 447.00 450.50 0.78
CPO BMD SEPT MYR per MT 2425.00 2447.00 0.91
Sugar LIFFE AUG 10 cents per MT 465.20 488.50 5.01
13
®
SPOT PRICES (% change) Highlights on short term energy outlook of Crude oil & NaturalGas Source: U.S. Energy Information Administration (EIA)
Crude oil
•U.S. total crude oil production, which averaged 7.4 million bbl/d in 2013, is expected to average 8.4 million bbl/d in 2014 and 9.3 million bbl/d in 2015. The 2015 forecast represents the highest annual average level of oil production since 1972.
•EIA expects OPEC crude oil production to fall by 0.1 million bbl/d in 2014 and an additional 0.1 million bbl/d in 2015 to accommodate growing production in non-OPEC countries
•EIA expects high seasonal demand for refined products and strong refinery runs to help keep the discount of WTI crude oil to Brent crude oil around $7/bbl over the next few months, before widening later in the year to reach $12/bbl in December.
•EIA expects the discount to average of $9/bbl in 2014 and $11/bbl in 2015, reflecting the economics of transporting and processing the growing production of high API gravity (very light) sweet crude oil in the United States.
•EIA projects Brent crude oil prices to average $108/bbl in 2014 and $102/bbl in 2015 and the WTI discount to Brent to average $9/bbl and $11/bbl in 2014 and 2015, respectively.
•EIA expects natural gas marketed production to grow by an average rate of 4.0% in 2014 and 1.3% in 2015.
•EIA expects total natural gas consumption will average 72.5 Bcf/d in 2014, an increase of 1.7% from 2013, led by the industrial sector. In 2015, total natural gas consumption falls by 0.2 Bcf/d as a return to near-normal winter weather contributes to lower residential and commercial consumption.
•Based on the outlook from the National Oceanic and Atmospheric Administration (NOAA) for near to below normal tropical weather activity this year EIA's mean estimates of shut in production in the federal Gulf of Mexico (GOM) during the current hurricane season (June through November) total 12 million bbl of crude oil and 30 billion cubic feet (Bcf) of natural gas.
•EIA's simulation results indicate a 69% probability of offshore natural gas production experiencing outages during the 2014 hurricane season that are equal to or larger than the 6.7 Bcf of production shut in last season.
•EIA expects working gas stocks will reach 3,424 Bcf at the end of October, 392 Bcf lower than at the same time last year.
•EIA expects spot prices will remain near current levels until the start of the next winter heating season. Projected Henry Hub natural gas prices average $4.74/MMBtu in 2014 and $4.49/MMBtu in 2015.
-5.20
-3.54
-3.25
-2.52
-0.33
-0.01
0.36
0.37
0.62
0.94
1.23
1.38
1.85
1.89
2.42
2.87
4.48
5.63
-6.00 -4.00 -2.00 0.00 2.00 4.00 6.00 8.00
SOYABEAN (INDORE)
RAW JUTE (KOLKATA)
GUAR SEED (JODHPUR)
GUAR GUM (JODHPUR)
JEERA (UNJHA)
RUBBER (KOCHI)
GUR (MUZAFFARNGR.)
PEPPER MALABAR GAR (KOCHI)
MASOOR (INDORE)
REFINED SOYA OIL (INDORE)
CORIANDER (KOTA)
CHANA (DELHI )
BARLEY (JAIPUR)
TURMERIC (NIZAMABAD)
MUSTARD (JAIPUR)
GOLD 10 GMS (MUMBAI)
SILVER 5 KG (DELHI)
CRUDE PALM OIL (KANDLA)
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 59.93 60.62 59.91 60.13
EUR/INR 81.07 82.31 81.07 81.92
GBP/INR 101.76 102.98 101.76 102.35
JPY/INR 58.85 59.48 58.78 59.06
(Source: FX Central, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
News Flows of last week
17th June U.S. consumer prices showed inflation ticking up
18th June Japan's annual exports declined for the first time in 15 months in May
18th June China's average home prices fell for the first time in two years in May
19th June Confidence of Japanese manufacturers held steady in June
19th June U.S factory activity in the mid-Atlantic region accelerated in June
19th June The number of Americans filing new claims for jobless benefits fell last week
19th June Fed kept faith in recovery, bumps up expected rate-hike path
EUR/INR (JULY) contract closed at 82.31 on 19th June'14. The contract made its high of ̀ 82.64 on 18th June'14 and a low of Rs 80.07 on 19th June'14 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 81.73.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 57.78. One can buy around 81.75 for a target of 82.75 with the stop loss of 81.20
`
JPY/INR (JULY) contract closed at 59.37 on 19th June'14. The contract made its high of 59.78 on 17th June'14 and a low of ̀ 59.07 on 16th June'14 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 58.92.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 59.11. One can buy around 58.80 for a target of 59.85 with the stop loss of 58.25.
Market Stance
Indian rupee extended its previous week losses and settled in a negative territory
as worsening crisis in Iraq threatened to disrupt oil supplies. The rupee has
revisited near two month low last week. However, the Reserve Bank of India has
been spotted intervening to check the rupee's falls in past few sessions. Adding to
that, central bank governor Raghuram Rajan assured markets that India is
watching the situation in Iraq, but the uncertainty in the domestic economy is
better prepared to deal with any shocks on the external front. Fall in domestic
stocks due to waning risk appetite also added to the rupee's losses. It was also
seen that long positions on the rupee. However, it fell to the lowest level since
late April, as higher oil prices on intensifying turmoil in Iraq are seen hurting
India's economy and further straining government finances.
EUR/INR
USD/INR (JULY) contract closed at ̀ 60.44 on 19th June'14. The contract made its high of ̀ 60.89 on 18th June'14 and a low of ̀ 60.21 on 19thJune'14 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 60.13.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 59.38. One can buy around 60.15 for a target of 61.25 with the stop loss of 59.60.
GBP/INR (JULY) contract closed at 102.86 on 19th June'14. The contract made its high of 103.28 on 18th June'14 and a low of ̀ 102.17 on 16th June'14 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at ̀ 101.68.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 71.70. One can buy around 102.75 for a target of 103.75 with the stop loss of 102.20.
`
USD/INRTechnical Recommendation
GBP/INR JPY/INR
Economic gauge for the next week
Date Currency Event PREVIOUS
25th June USD Gross Domestic Product (Annualized) -1.00%
26th June JPY Tokyo Consumer Price Index (YoY) 3.10%
26th June JPY National Consumer Price Index (YoY) 3.40%
26th June JPY National Consumer Price Index Ex-Fresh Food (YoY) 3.20%
26th June JPY National Consumer Price Index Ex Food, Energy (YoY) 2.30%
26th June JPY Tokyo Consumer Price Index Ex Food, Energy (YoY) 1.90%
27th June GBP Gross Domestic Product (QoQ) 0.80%
27th June GBP Gross Domestic Product (YoY) 3.10%
27th June GBP GDP (YoY) 0.40%
14
®®
IPO
IPO NEWSIPO NEWS
IPO norms eased for issuers while retail investors will hold larger PSU pie
The Securities and Exchange Board of India approved a number of measures aimed at making it easier for companies to raise money as part of a significant push to
rejuvenate the country's primary market. The measures approved by the board of the capital market regulator include easing IPO restrictions for issuers,
doubling the investment bucket for anchor investors, allowing non-promoters to offload their stake through offers for sale and reserving 10% of issues for retail
investors. The regulator has also asked the government to lower its stake in state-owned companies to 75% versus the current 90% cap within three years,
increasing the amount of shares that need to be held by the public. It also tightened rules for employee stock option plans or ESOPs.
Sebi relaxes IPOs, OFS norms to boost primary markets
India's capital market regulator—Securities and Exchange Board of India (Sebi)—has relaxed norms for initial public offerings (IPOs) and offers for sale (OFS) to
encourage more companies to sell shares and attract retail investors. The board of the regulator said that companies with a post-issue capital of less than ̀ 4,000
crore will have to sell a 25% stake or stocks worth `400 crore, whichever is lower, to the public in an initial share sale. This will remove the anomaly that a
company just short of ̀ 4,000 crore market capitalization was required to dilute about ̀ 1,000 crore while another company at ̀ 4,000 crore market capitalization
was required to dilute only ̀ 400 crore. However, if an IPO of ̀ 400 crore size is not equivalent to 25% of its post-issue capital, the minimum public shareholding of
25% has to be achieved within three years of listing. Currently, a company with a post-issue equity capital of up to `4,000 crore has to sell a minimum of 25%,
while a company with a post-issue capital of more than ̀ 4,000 crore is allowed to offload a minimum of 10% in the IPO. Sebi's latest move is likely to encourage a
number of companies to sell shares to the public, reviving the primary market. In fiscal year 2013-14, ̀ 1,204 crore was raised through 38 IPOs, compared with
`6,497 crore raised via 33 issues a year ago. In the year ended 31 March, around ̀ 13,000 crore was raised through primary market issuances, including IPOs, rights
issues and Qualified Institutional Placements (QIPs).
Ratnakar Bank eyeing up to $250 million IPO
Ratnakar Bank is planning to launch an initial public offering (IPO) of shares worth up USD 250 million in the first quarter of next year. Ratnakar Bank will issue
new shares and some of the private equity investors will pare their holding in the share sale. The lender will hire at least four banks to manage the public offering
within a week.
IndiGo plans to hit the IPO market by Q3 FY14
India's budget airline, IndiGo wants to make the most of the current bull run. ET NOW learns that the airline's holding company, InterGlobe Aviation is gearing up
to hit the capital market with a big-bang IPO by the third quarter of this financial year. IndiGo has initiated the process and is in talks with merchant bankers for
the public issue.
*Closing prices as on 19-06-2014
15
®
IPO TRACKER
Just Dial Service provider 9903.57 950.11 5-Jun-13 530.00 590.00 1411.40 266.30
Repco Home Fin Finance 2623.46 270.39 1-Apr-13 172.00 165.00 422.05 245.38
V-Mart Retail Trading 539.79 123.00 20-Feb-13 210.00 216.00 300.55 143.12
Bharti Infra. Telecom 47059.49 4533.60 28-Dec-12 220.00 200.00 249.05 113.20
PC Jeweller Jewellary 1961.15 609.30 27-Dec-12 135.00 135.50 109.50 81.11
CARE Rating Agency 2922.33 540.00 26-Dec-12 750.00 949.00 1007.70 134.36
Tara Jewels Jewellery 259.99 179.50 6-Dec-12 230.00 242.00 105.60 45.91
VKS Projects Engineering 38.43 55.00 18-Jul-12 55.00 55.80 0.61 1.11
Speciality Rest. Restaurants 703.46 181.96 30-May-12 150.00 153.00 149.80 99.87
T B Z 1336.07 210.00 9-May-12 120.00 115.00 200.25 166.88
MT Educare Miscellaneous 443.11 99.00 12-Apr-12 80.00 86.05 111.35 139.19
NBCC Construction 3701.40 124.97 12-Apr-12 106.00 100.00 308.45 290.99
Olympic card. Media 40.78 24.75 28-Mar-12 30.00 29.95 25.00 83.33
Multi Comm. Exc. Exchange 3099.62 663.31 9-Mar-12 1032.00 1387.00 607.65 58.88
Indo Thai Sec. Finance 19.00 29.60 2-Nov-11 74.00 75.00 19.00 25.68
Vaswani Inds. Steel 11.23 49.00 24-Oct-11 49.00 33.45 3.92 8.00
Flexituff Intl. Packaging 609.68 104.63 19-Oct-11 155.00 155.00 245.05 158.10
Prakash Constro. Construction 31.30 60.00 4-Oct-11 138.00 145.00 2.49 1.80
PG Electro. Consumer Durables 244.18 120.65 26-Sep-11 210.00 200.00 148.80 70.86
SRS 422.05 203.00 16-Sep-11 58.00 55.00 30.30 52.24
Jewellery
Jewellery
Company Sector M.Cap(In ̀ Cr.) Issue Size(in `Cr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)
*
16
®
MUTUAL FUND
NEWS
Assets with portfolio managers dip to ̀ 7.7 lakh cr in May
Assets under management (AUM) of portfolio managers for high networth individuals dropped to `7.7 lakh crore in May from a month ago. According to latest
update with the Securities and Exchange Board of India (Sebi), the assets under management of portfolio managers declined to ̀ 7,70,173 crore at the end of May
from ̀ 7,78,711 crore in April.However, total AUM has nearly doubled since the data was first released by SEBI in December 2010. The AUM had touched a record
level of ̀ 9.58 lakh crore in August last year.
Deutsche MF introduces Fixed Maturity Plan - Series 72 (3 years)
Deutsche Mutual Fund has launched the New Fund Offer (NFO) of DWS Fixed Maturity Plan - Series 72 (3 years), a close ended income scheme. The NFO opens for
subscription on Jun 16, 2014 and closes on Jun 30, 2014. The investment objective of the scheme is to generate income by investing in debt and money market
instruments maturing on or before the date of the maturity of the Scheme.
JPMorgan MF introduces Emerging Markets Opportunities Equity Offshore Fund
JPMorgan Mutual Fund has launched the New Fund Offer (NFO) of JPMorgan Emerging Markets Opportunities Equity Offshore Fund, a close ended income
scheme. The NFO opens for subscription on Jun 16, 2014 and closes on Jun 30, 2014. The investment objective of the scheme is to provide long term capital
growth by investing predominantly in the JPMorgan Funds - Emerging Markets Opportunities Fund, an equity fund which invests primarily in an aggressively
managed portfolio of emerging market companies.
LIC NOMURA MF introduces Fixed Maturity Plan Series 85(730 Days)
LIC NOMURA Mutual Fund has launched the New Fund Offer (NFO) of LIC Nomura Fixed Maturity Plan Series 85(730 Days), a close ended income scheme. The NFO
opens for subscription on Jun 16, 2014 and closes on Jun 24, 2014. The investment objective of the scheme is to provide long term capital growth by investing
predominantly in the JPMorgan Funds - Emerging Markets Opportunities Fund, an equity fund which invests primarily in an aggressively managed portfolio of
emerging market companies.
Sundaram MF introduces Hybrid Fund Series K (5 years)
Sundaram Mutual Fund has launched the New Fund Offer (NFO) of Sundaram Hybrid Fund Series K (5 years), a close ended income scheme. The NFO opens for
subscription on Jun 16, 2014 and closes on Jun 30, 2014. The investment objective of the scheme is to generate capital appreciation and current income, through
a judicious mix of investments in equities and fixed income securities.
TATA MF introduces Fixed Maturity Plan Series 48 Scheme C (370 Days)
TATA Mutual Fund has launched the New Fund Offer (NFO) of TATA Fixed Maturity Plan Series 48 Scheme C (370 Days), a close ended income scheme. The NFO
opens for subscription on Jun 16, 2014 and closes on Jun 30, 2014. The investment objective of the scheme is to generate income and / or capital appreciation by
investing in wide range of Fixed Income Instruments having maturity in line with the maturity of the scheme. The maturity of all investments shall be equal to or
less than the maturity of a scheme. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.
Reliance MF introduces Fixed Horizon Fund - XXVI - Series 31
Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Fixed Horizon Fund - XXVI - Series 31, a close ended income scheme. The NFO opens for
subscription on June 17, 2014 and closes on June 24, 2014. 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
Central and State Government securities and Other fixed income/ debt securities.
Deutsche MF introduces Hybrid Fixed Term Fund - Series 23 (3 years)
Deutsche Mutual Fund has launched the New Fund Offer (NFO) of DWS Hybrid Fixed Term Fund-Series 23 (3 years), a close ended income scheme. The NFO opens
for subscription on Jun 17, 2014 and closes on Jul 02, 2014. The investment objective of the scheme is to generate income by investing in fixed income securities
maturing on or before the dateof the maturity of the Scheme and to generate capital appreciation by investing in equity and equity related instruments.
SBI MF introduces Debt Fund Series A-33 (36 Months)
SBI Mutual Fund has launched the New Fund Offer (NFO) of SBI Debt Fund Series A-33 (36 Months), a close ended income scheme. The NFO opens for subscription
on Jun 18, 2014 and closes on Jun 25, 2014. The investment objective of the scheme is to provide regular returns and capital growth with limited interest rate
risk to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market
Instruments maturing on or before the maturity of the scheme.
17
®
NFOs WATCH
Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount
09-Jun-2014 23-Jun-2014 Close-Ended Growth `5000/-DWS Hybrid Fixed Term Fund - Series 24 (15 months) - Regular Plan (G)
Akash Singhania
/ Rakesh Suri
To generate income by investing in fixed income securities maturing on or before the date of the maturity of the Scheme and to generate capital appreciation by investing in equity and equity related instruments
18
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
Reliance Small Cap Fund - Growth 18.12 16-Sep-2010 360.85 44.81 57.78 93.22 24.39 17.14 2.34 0.71 0.35 0.72 58.18 30.95 10.15
Birla Sun Life Pure Value Fund - Growth 32.35 27-Mar-2008 45.16 57.61 78.10 88.45 25.59 20.72 2.84 0.96 0.36 0.72 58.18 30.95 10.15
HSBC Midcap Equity Fund - Growth 29.15 19-May-2005 79.38 37.60 56.84 81.29 16.62 12.49 2.80 0.90 0.15 8.46 73.88 11.64 6.02
ICICI Prudential MidCap Fund - Growth 53.15 28-Oct-2004 212.68 39.32 53.35 78.84 19.56 18.91 2.28 0.74 0.27 25.59 63.79 7.42 3.20
Sahara Star Value Fund - Growth 17.19 14-Sep-2009 1.09 46.25 59.82 78.35 14.78 12.04 3.16 1.04 0.09 14.28 46.09 23.42 16.21
Sundaram SMILE Fund - Reg - Growth 48.60 15-Feb-2005 262.60 51.44 58.17 76.52 18.14 18.43 2.80 0.99 0.16 6.37 64.17 28.04 1.41
Canara Robeco Emerging Equities - G 41.58 11-Mar-2005 38.60 40.71 54.23 71.53 22.80 16.67 2.31 0.81 0.26 10.56 84.86 N.A 4.58
EQUITY (Diversified)
BALANCED
INCOME FUND
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 19/06/2014Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
ULTRA SHORT TERM
SHORT TERM FUND
Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns
Due to their inherent short term nature, the following 2 categories have been sorted on the basis of 6month returns
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 332.36 01-Feb-1994 5145.95 30.30 38.36 45.40 16.54 20.28 1.98 0.11 33.83 31.25 8.87 26.05
HDFC Balanced Fund - Growth 89.29 11-Sep-2000 1227.37 23.72 31.20 44.37 16.79 17.22 1.45 0.14 26.96 40.60 3.13 29.32
ICICI Prudential Balanced - Growth 76.47 03-Nov-1999 640.08 19.06 25.75 36.97 18.72 14.91 1.41 0.16 42.07 26.75 1.57 29.62
Reliance RSF - Balanced - Growth 32.83 08-Jun-2005 536.68 20.23 27.49 35.13 15.58 14.06 1.63 0.07 53.15 13.49 5.79 27.57
Tata Balanced Fund - Plan A - Growth 131.56 08-Oct-1995 616.23 21.49 26.75 34.86 17.63 16.68 1.49 0.13 42.99 30.10 1.72 25.18
Birla Sun Life 95 - Growth 456.82 10-Feb-1995 646.47 20.08 26.52 34.03 14.71 21.81 1.51 0.10 43.58 29.31 1.11 26.01
Canara Robeco Balance - Growth 91.00 01-Feb-1993 194.17 20.63 25.45 32.87 15.03 11.06 1.53 0.06 37.56 35.55 0.62 26.27
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch QAAUM Since Std. SharpeMaturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Axis Banking Debt Fund - Growth 1194.27 08-Jun-2012 427.85 5.98 7.36 9.65 9.54 9.12 N.A 9.14 6.47 0.27 262.80 8.92
Templeton India Cor. Bond Oppor. Fund - G 12.98 07-Dec-2011 5685.15 1.81 6.77 14.00 11.84 8.92 N.A 10.84 14.44 0.19 941.70 10.50
UTI Dynamic Bond Fund - Growth 14.30 23-Jun-2010 498.87 5.40 6.32 14.10 13.52 8.81 10.17 9.37 15.68 0.18 2816.71 N.A
Reliance RSF - Debt - Growth 17.60 09-Jun-2005 4020.55 2.58 7.37 12.23 10.80 8.45 9.31 6.43 10.31 0.21 598.60 10.50
Templeton India Income Oppor. Fund - G 14.82 11-Dec-2009 3885.25 2.11 7.68 13.16 11.16 8.38 9.79 9.08 13.57 0.19 744.60 10.29
UTI Income Opportunities Fund - Growth 11.48 19-Nov-2012 511.70 2.82 7.08 14.26 11.28 7.94 N.A 9.11 16.27 0.12 803.88 N.A
ICICI Prudential Regular Savings Fund - G 13.54 03-Dec-2010 3756.68 1.69 5.17 11.03 10.84 7.92 9.09 8.93 13.18 0.13 719.05 10.18
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Birla Sun Life Medium Term Plan - Reg - G 15.68 25-Mar-2009 2331.53 1.3 7.7 14.96 12.13 9.36 10.72 8.97 12.5 0.28 N.A 10.56
Birla Sun Life Dynamic Bond Fund - Ret - DAP 15.15 08-Apr-2009 11008.4 -29.3 -14.03 19.75 11.78 6.39 9.58 8.32 18.51 0.11 N.A 8.79
Birla Sun Life Dynamic Bond Fund - Ret - G 21.9 24-Sep-2004 11008.4 -29.31 -14.03 19.75 11.78 6.39 9.58 8.38 18.51 0.11 N.A 8.79
ICICI Prudential STP - Growth 26.47 25-Oct-2001 3209.53 -3.13 4.04 16.78 11.25 7.43 9.15 7.99 15.82 0.12 1054.85 9.5
Birla Sun Life Short Term Oppor. Fund - Reg - G 21.1 24-Apr-2003 2681.61 1.56 7.09 13.05 11.18 9.12 10.53 6.92 11.49 0.3 N.A 9.76
DSP BlackRock Income Oppor. Fund - Reg - G 20.72 13-May-2003 913.16 3.07 6.83 15.43 11.1 8.88 9.04 6.78 10.1 0.19 1067.55 10.55
Reliance Short Term Fund - Growth 24.22 23-Dec-2002 3260.36 -0.19 5.17 12.94 11.06 7.61 9.18 7.99 14.17 0.13 821.25 9.26
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Birla Sun Life Tre. Optimizer Plan - Ret - G 238.96 19-Apr-2002 350.46 -1.32 5.72 14.25 11.69 10.69 9.82 7.42 4.71 0.54 N.A 9.25
Birla Sun Life Treasury Optimizer Plan - DAP 147.52 22-Jun-2009 350.46 -1.33 5.71 14.24 11.50 10.40 9.60 8.10 4.76 0.47 N.A 9.25
Templeton India Low Duration Fund - G 14.26 26-Jul-2010 1871.37 7.11 8.37 9.89 10.08 9.77 9.89 9.51 4.00 0.59 120.45 9.60
Kotak Banking and PSU Debt Fund - G 29.09 29-Dec-1998 530.72 8.47 8.57 9.46 10.05 10.01 9.07 7.14 11.41 0.14 69.35 9.00
IDFC Ultra Short Term Fund - Reg - G 18.25 17-Jan-2006 1593.38 7.61 7.98 9.58 9.73 9.68 9.78 7.40 3.78 0.58 128.00 8.86
Birla Sun Life Savings Fund - Ret - G 242.91 27-Nov-2001 4827.80 5.70 7.32 9.84 9.66 9.61 9.43 7.32 3.94 0.49 N.A 9.20
Templeton India USB Fund - Retail - G 16.75 18-Dec-2007 3535.72 7.23 8.01 9.07 9.62 9.69 9.53 8.25 2.91 0.70 76.65 9.16
Annualised
®
Mr. D K Aggarwal (CMD, SMC Comtrade Limited) sharing his value inputs during
"3rd International CPAI Convention" organized at New Delhi.
Mr. S C Aggarwal (CMD, SMC Group) during "BIMSTEC Foundation Day"
organized by Assocham at New Delhi.
