2017: Issue 587, Week: 10th - 13th July WISE M NEY...On the commodity market front, it was another...
21
WISE M NEY A Weekly Update from SMC (For private circulation only) DON’T SAVE WHAT IS LEFT AFTER SPENDING BUT SPEND WHAT IS LEFT AFTER SAVING. Warren Buffett 2017: Issue 587, Week: 10th - 13th July Brand smc 411
Transcript of 2017: Issue 587, Week: 10th - 13th July WISE M NEY...On the commodity market front, it was another...
WISE M NEYA Weekly Update from SMC
(For private circulation only)
DON’T SAVE WHAT IS LEFTAFTER SPENDINGBUT SPEND WHAT IS LEFTAFTER SAVING.
Warren Buffett
2017: Issue 587, Week: 10th - 13th July
Bra
nd s
mc
411
To register, visit www.smcphc.in
Give us a missed call
9560 116 116
Broking - Equity, Commodity & Currency | Wealth Management | Insurance Broking | Real Estate Advisory | Mortgage Advisory |
Distribution of IPOs, Mutual Funds, FDs & Bonds | Investment Banking | NBFC Financing | AIF-II | PMS | Institutional Broking |
Clearing Services | NRI & FPI Services | Research
www.smcphc.in
Investment in securities market are subject to market risks, read all the related document carefully before investing • Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt.
Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC
Global Securities Ltd. only as a distributor. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Comtrade Ltd. • Real Estate Advisory services are offered through
SMC Real Estate Advisors Pvt. Ltd. • The portfolio management service is not being provided for commodity trading.
NSE INB/INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432 INE 260771431, CDSL/NSDL-IN-DP-NSDL-130-2015 (SMC Global Securities Ltd.), NCDEX/MCX (8200)/NMCE/ICEX-INZ000035839 (SMC Comtrade Ltd.), PMS INP000003435 (SMC Investments and Advisors Ltd.) IRDAI Regi. No: DB 272/04 License No. 289, Valid upto 27/01/2020 (SMC Insurance Brokers Pvt. Ltd.), Merchant Banker INM000011427 (SMC Capitals Ltd.)
DELHI | MUMBAI | KOLKATA | AHMEDABAD | CHENNAI | BENGALURU | DUBAI | NEW YORK | ATLANTA | ORLANDO
SMC Global Securities Ltd., CIN No.: L74899DL1994PLC063609 | SMC Comtrade Ltd., CIN : U67120DL1997PLC188881 | REGISTERED OFFICE: 11/6-B, Shanti Chamber,
Pusa Road, New Delhi - 110005, Tel +91-11-30111000 | Email us at: [email protected]
Follow us on *T&
C a
pp
ly
triverse
MINUTES
Detailed portfolio analysis
Restructure investmentportfolio based onrisk-return profile
Latest news & updates on regular investments
Check health of yourequity & mutual funds portfolio
Simply upload yourConsolidated AccountStatement (CAS)
Choice to enter your portfolio manually
CHECK YOUR equity andmutual funds PORTFOLIO HEALTH
IN 2 MINuteS
CHECK YOUR equity and mutual funds PORTFOLIO HEALTH
IN 2 MINuteS(By simply uploading your CAS report)
From The Desk Of Editor
(Saurabh Jain)
SMC Global Securities Ltd. (hereinafter referred to as “SMC”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited and its associate is member of MCX stock Exchange Limited. It is also registered as a Depository Participant with CDSL and NSDL. Its associates merchant banker and Portfolio Manager are registered with SEBI and NBFC registered with RBI. It also has registration with AMFI as a Mutual Fund Distributor.
SMC has applied with SEBI for registering as a Research Entity in terms of SEBI (Research Analyst) Regulations, 2014. SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market.
SMC or its associates including its relatives/analyst do not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. SMC or its associates and relatives does not have any material conflict of interest. SMC or its associates/analyst has not received any compensation from the company covered by Analyst during the past twelve months. The subject company has not been a client of SMC during the past twelve months. SMC or its associates has not received any compensation or other benefits from the company covered by analyst or third party in connection with the research report. The Analyst has not served as an officer, director or employee of company covered by Analyst and SMC has not been engaged in market making activity of the company covered by Analyst.
The views expressed are based solely on information available publicly available/internal data/ other reliable sources believed to be true.
SMC does not represent/ provide any warranty express or implied to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any investment decision.
lobal equities saw some selling pressure in the week gone by as central banks step
up talk of tighter policies going ahead. Minutes of the European Central Bank G(ECB) meeting showed that the officials discussed to end the bank's promise to
step up the pace of asset purchases if needed to stimulate the euro zone economy. While
ECB and U.S. Federal Reserve are discussing exit policy, the Bank of Japan (BOJ) is
maintaining a loose policy. Recently BOJ trying to keep its 10-year yield at around zero
percent announced its first unlimited fixed-rate bond-purchase operation since February.
On the data front in U.S., a read on private-sector jobs and weekly layoffs came in slightly
weaker than expected, but likely not weak enough to change the pace of interest-rate
increases. German industrial output growth accelerated in May. Rising for the fifth month in
a row, industrial output in Europe's largest economy increased by 1.2% in May from April.
Back at home, stock market closed rangebound session flat with a negative bias on Friday
due to weakness in global peers. However, in last four consecutive weeks, smooth rollout of
GST and hopes of early recovery in PSU banks' earnings continue to support bulls.
Meanwhile, the India Meteorological Department (IMD) in its weekly weather report on 6th
July 2017, said that the all India cumulative seasonal rainfall from 1st June to 5th July 2017
stood at 217.3 mm as against normal rainfall of 206.7 mm. As per the IMF or International
Monetary Fund, India's economic growth outlook is improving as impact of demonetisation
is fading and some key reforms are paying off. Going next week, investors focus would shift
to Q1 June 2017 earnings. Macroeconomic data, progress of monsoon rains, trend in global
markets, investment by foreign portfolio investors (FPIs) and domestic institutional
investors (DIIs), the movement of rupee against the dollar and crude oil price movement
will dictate trend on the bourses.
On the commodity market front, it was another round of selling in energy and bullion
counter which brought fresh 52-week low for the CRB Commodity Index. The CRB Index
touched a low below 168 last to last week not that far above the January 2016 lows at
154.85. Gold can face resistance near $1260 in COMEX and 28700 in MCX while it has support
near $1190 in COMEX and $27500 in MCX. Major base metals like lead, nickel and zinc and
aluminium can continue to head higher on decline in inventories and renewed demand.
New Yuan Loans, CPI of China, Fed Releases Chair Yellen's testimony to Congress, Bank of
Canada Rate Decision, Bank of Canada Releases July Monetary Policy Report, Yellen to
Appear Before U.S. House Panel, Bank of England Credit Conditions & Bank Liabilities
Surveys, Fed Chair Yellen Testifies Before Senate Banking Panel, CPI, Advance Retail Sales
and U. of Michigan Confidence, etc are some major triggers for the market this week.
Contents
Equity 4-7
Derivatives 8-9
Commodity 10-13
Currency 14
IPO 15
FD Monitor 16
Mutual Fund 17-18
SMC GLOBAL SECURITIES LTD.
REGISTERED OFFICES:
11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.
Tel: 91-11-30111000, Fax: 91-11-25754365
MUMBAI OFFICE:
Lotus Corporate Park, A Wing 401 / 402 , 4th Floor ,
Graham Firth Steel Compound, Off Western Express Highway,
Jay Coach Signal, Goreagon (East) Mumbai - 400063
Tel: 91-22-67341600, Fax: 91-22-67341697
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:
2404, 1 Lake Plaza Tower, Cluster T, Jumeriah Lake Towers,
PO Box 117210, Dubai, UAE
Tel: 97145139780 Fax : 97145139781
Email ID : [email protected]
NEW YORK OFFICE:
Alliance Bernstein Building
1345 Avenue of the Americas
Second Floor, New York, NY 10105
Phone: (212) 878-3684
Toll-Free: (855) 589-1915
Fax: (866) 852-4236
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 MARKETING102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Ph.: +91-11- 43035012, 43035014, Email: [email protected]
NEWS
DOMESTIC NEWSEconomy• India's private sector activity expanded at the fastest pace in eight months
in June, survey data from IHS Markit showed. The seasonally adjusted Nikkei India composite output index climbed to 52.7 in June from 52.5 in May. The headline Nikkei Services Purchasing Managers' Index also rose to an eight-month high of 53.1 in June from 52.2 in May.
Chemicals• Tata Chemicals is set to exit fertiliser business by selling off the last of its
Indian operations at Haldia, West Bengal, as part of an ongoing mega restructuring that would strengthen the company's focus on consumer and inorganic chemicals and deleverage its balance sheet.
Engineering• IL&FS Engineering and Construction Company has bagged jobs worth
`236.76 crore from state-run Jharkhand Bijli Vitran Nigam under the Integrated Power Development Scheme. The first order entails supply of equipment and materials related to a contract for Urban Electrification work for Dhanbad Electric Supply Circle covering two towns--Dhanbad and Chirkunda. The second order is for supply of equipment and materials related to the contract for Urban Electrification works of Dumka-Sahibganj Electric Supply Circle.
• Hindustan Construction Company (HCC) said its joint venture firm has bagged a contract worth `797 crore from Bangalore Metro Rail Corporation. The contract is for construction of 6.340 km long elevated corridor and five elevated stations between HSR Layout station and RV Road Station.
• Kalyani Strategic Systems Ltd (KSSL), a subsidiary of Bharat Forge Limited, will expand its partnership with Israel Aerospace Industries (IAI). The two companies signed a memorandum of understanding (MoU). The new MOU covers the establishment of a maintenance centre for select advanced air defence systems in Hyderabad. The two companies have also agreed on expanding their joint operations for development, manufacturing, and marketing of precision ammunition systems.
Power/Oil & Gas• ONGC Videsh has signed definitive binding agreements with Tullow
Namibia Limited (Tullow), a wholly owned subsidiary of Tullow Oil plc, for acquiring 30 percent participating interest in Namibia Petroleum Exploration License 0037 for Blocks 2112A, 2012B and 2113B and related agreements (License) out of Tullow's existing participating interest of 65 percent in the license.
Pharmaceutical • Jubilant Life Sciences said its subsidiary has received final approval from
the US health regulator for Bupropion Hydrochloride extended- release tablets, used for the treatment of major depressive disorder and prevention of seasonal affective disorder. The approved product is the generic version of Wellbutrin XL of Valeant, which is used for the treatment of major depressive disorder and prevention of seasonal affective disorder.
• Alembic Pharmaceuticals has received tentative approval from the US health regulator for vardenafil hydrochloride tablets used for treatment of erectile dysfunction.
• Lupin Ltd has launched in the US market its generic version of Moxifloxacin Hydrochloride Ophthalmic solution used for treating bacterial conjunctivitis.
• Sun Pharmaceutical Industries signed a long term agreement with South Korea's Samsung BioLogics for the manufacture of an experimental medicine to treat psoriasis. The novel drug known as Tildrakizumab is currently under review by the US Food & Drug Administration (FDA) and the European Medicines Agency (EMA). The value of the contract is about $55.5 million.
Healthcare• Zydus Cadila announced the initiation of a phase II trial of oral small
molecule Zyan1 that has been designed for the treatment of anaemia associated with chronic kidney disease.
• Zydus Cadila has received tentative approval from the US health regulator to market anti-diabetic sitagliptin and metformin hydrochloride in the US market.
INTERNATIONAL NEWS• U.S non-manufacturing index rose to 57.4 in June from 56.9 in May, with a
reading above 50 indicating growth in the service sector. Economists had expected the index to edge down to 56.5.
• U.S trade deficit narrowed to $46.5 billion in May from $47.6 billion in April. Economists had expected the deficit to narrow to $46.2 billion.
• U.S initial jobless claims edged up to 248,000, an increase of 4,000 from the previous week's unrevised level of 244,000. Economists had expected jobless claims to dip to 243,000.
• China's Purchasing Managers' Index for the service sector slid to 51.6 in June from a four-month high of 52.8 in May, signaling the second-slowest increase in activity for 13 months.
• The services sector in Japan continued to expand in June, and at a faster rate, the latest survey from Nikkei revealed with a PMI score of 53.3.That's up from 53.0 in May, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Ex-Date Company Purpose
10-Jul-17 Abbott India Dividend Rs 40/- Per Share10-Jul-17 MindTree Buyback/ Dividend - Rs 3/- Per Share10-Jul-17 UltraTech Cement Dividend - Rs 10 Per Share11-Jul-17 Ashok Leyland Dividend - Rs 1.56/- Per Share11-Jul-17 Hindustan Petroleum Bonus 1:2/ Dividend - Rs 1.10 Per
Corporation Share12-Jul-17 Canara Bank Dividend - Re 1 Per Share12-Jul-17 Dr. Lal Path Labs Ltd. Dividend - Rs 1.70 Per Share12-Jul-17 Karur Vysya Bank Dividend - Rs 2.60 Per Share12-Jul-17 Shreyas Shipping Dividend - Re 1/- Per Share
& Logistics 12-Jul-17 Kotak Mahindra Bank Dividend-Re 0.60 Per Share13-Jul-17 City Union Bank Bonus 1:1013-Jul-17 Bharat Petroleum
Corporation Bonus 1:213-Jul-17 Mahindra & Mahindra Dividend - Rs 13/- Per Share13-Jul-17 Larsen & Toubro Bonus 1:213-Jul-17 MphasiS Dividend - Rs 17/- Per Share13-Jul-17 Reliance Industries Dividend - Rs 11/- Per Share13-Jul-17 Bharti Airtel Dividend - Re 1 Per Share14-Jul-17 GlaxoSmithKline
Pharmaceuticals Dividend - Rs 30/- Per Share14-Jul-17 Mahindra & Mahindra
Financial Services Dividend - Rs 2.40 Per Share
Meeting Date Company Purpose
11-Jul-17 The South Indian Bank Results11-Jul-17 Monnet Ispat and Energy Results11-Jul-17 IndusInd Bank Results12-Jul-17 Bajaj Corp Results13-Jul-17 Tata Consultancy Services Results/Dividend13-Jul-17 Reliance Industrial
Infrastructure Results13-Jul-17 Infibeam Incorporation Stock Split/Others14-Jul-17 Infosys Results
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 31361 UP 18.11.16 25627 29500 29100
NIFTY50 9666 UP 27.01.17 8641 9200 9000
NIFTY IT 10088 DOWN 07.07.17 10088 10500 10600
NIFTY BANK 23449 UP 27.01.17 19708 22700 22400
ACC 1610 UP 27.01.17 1431 1580 1550
BHARTIAIRTEL 386 UP 03.02.17 354 360 355
BPCL 664 DOWN 23.06.17 631 680 695
CIPLA 547 UP 09.06.17 551 525 510
SBIN 280 DOWN 30.06.17 274 290 295
HINDALCO 195 UP 27.01.17 191 185 180
ICICI BANK 290 UP 21.10.16 277 275 270
INFOSYS 935 DOWN 13.04.17 931 980 1010
ITC 334 UP 13.01.17 250 300 290
L&T 1704 UP 13.01.17 1439 1700 1670
MARUTI 7433 UP 06.01.17 5616 7000 6800
NTPC 159 DOWN 03.03.17 156 165 168
ONGC 160 DOWN 31.03.17 185 170 175
RELIANCE 1491 UP 23.06.17 1436 1390 1370
TATASTEEL 553 UP 19.05.17 490 500 490
S/l
4
Closing as on 07-07-2017
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
1454.66
-896.10-1158.53
124.91
1253.48
871.21
267.17 207.97
-1500.00
-1000.00
-500.00
0.00
500.00
1000.00
1500.00
2000.00
Friday Monday Tuesday Wednesday Thursday
FII / FPI Activity MF Activity
4.433.98
3.48
2.892.67
-2.18 -2.07-1.73
-1.25-0.83
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
Reliance Inds.
ITC Maruti Suzuki
Coal India St Bk of India Bajaj Auto Cipla Sun Pharma.Inds.
Axis Bank TCS
10.72
5.064.53
4.16 4.08
-2.29 -2.24-1.82 -1.52 -1.49
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
12.00
Bharti Infra. Vedanta Reliance Inds. ITC Ambuja Cem. Cipla Bajaj Auto Sun Pharma.Inds.
Axis Bank Tech Mahindra
1.611.45
2.07
2.462.34
1.80
0.00
0.50
1.00
1.50
2.00
2.50
3.00
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Next 50
S&P CNX 500
1.93
1.09 1.09
0.48
2.85
0.330.25
3.51
1.79
0.12
4.00
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
-0.83
-0.14
-0.56
-0.20
0.00
-1.16
0.63
0.34
0.62
-1.40
-1.20
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
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
Source: Company Website Reuters Capitaline
6
Above calls are recommended with a time horizon of 8 to 10 months.
Investment Rationale use the funds for supporting business expansion and meet future capital requirements. With the •Overall, the Bank's retail business is granular and fresh capital CAR improved 12.40% as per Basel III.is growing at a healthy pace. It has expanded its
retail, SME & agriculture business and reported •Looking ahead at FY2018, it expects Loan growth 15% YoY growth. Total business grew 16% to target of 20% with focus on retail, SME, Agri, gold `112507 crore during the quarter. and Auto loans and NIM is expected to improve
from the current 2.72% to 2.85% minimum.•The bank focuses on Retail and MSME loans keeping in line with the long term philosophy of Valuationthe Bank resulting in ease of stress in the overall The Bank has been focusing on various Retail loan book. Its strategy of lending to Retail and segments such as Agriculture, MSME, Home Loans and SME with the focus on improving operating Auto Loans have registered substantial growth YoY. performance is leading to better performance in Business performance of the bank such as domestic these challenging times . loan growth, overall corporate advances, retail loan
•The management of the bank has vision to growth and CASA ratio are continuously improving. become a Retail Banking Power House by the year Moreover, the Bank would focus on fully leveraging 2020 and in line with that it has appointed existing resources and infrastructure. Thus, it is International Finance Corporation to provide expected that the stock will see a price target of ̀ 34 advisory support on the medium and long term in 8 to 10 months time frame on a target P/BVx of 1.2x strategy. It would enable to achieve significant and FY18 BVPS of ̀ 28.37.growth in retail, agriculture and SME sectors. Moreover, it also has entered into a Memorandum of Understanding with NSIC (national Small Industries Corporation) which will facilitate loans to MSME and thus strengthen the MSME portfolio of the Bank.
•The NPA of the bank has reduced during Q4FY17; Net NPA at 1.45% as of March 2017 quarter against 2.52% in December 2016 quarter and 2.89% as of March 2016 quarter. Meanwhile, the management expects the NPA for FY2018 to be significantly lower than FY2017.
•The bank raised ̀ 630 crore via rights issue. It will
P/B Chart
SOUTH INDIAN BANK LIMITED CMP: 28.35 Upside: 20%Target Price: 34.00
Face Value (`) 1
52 Week High/Low 29.90/16.83
M.Cap (`Cr.) 5112.69
EPS (`) 2.18
P/E Ratio (times) 13
P/B Ratio (times) 1.11
Dividend Yield (%) 1.41
Stock Exchange BSE
` in cr
% OF SHARE HOLDING
VALUE PARAMETERS
Actual Estimate
FY Mar-17 FY Mar-18 FY Mar-19
Net Total Income 2,391.00 2,683.50 3,060.40Ebitda 1,147.11 1,179.30 1,306.50Ebit 1,214.60 1,375.80 1,557.50Pre-tax Profit 600.20 756.20 989.50Net Income 392.50 498.70 652.90PS 2.61 2.89 3.52BVPS 25.52 28.37 31.19ROE - 10.00 12.10
JAIN IRRIGATION SYSTEMS LIMITED CMP: 105.25 Upside: 37%Target Price: 144.00
Investment Rationale crore at gross level and Rs 3,600 crore at net level. ?Jain Irrigation Systems is engaged in ?Micro Irrigation Systems (MIS) sales in India saw
manufacturing of micro irrigation systems, PVC healthy growth due to sales pickup in key markets pipes, HDPE pipes, plastic sheets, agro processed such as Maharashtra, Andhra Pradesh, Telangana, products, renewable energy solutions, tissue Madhya Pradesh, Rajasthan, and Tamil Nadu. The culture plants, financial services and other company is confident of registering 20%+ revenue agricultural inputs. growth in the MIS business in FY18 with double-
?Company has a very good order book in hand; it has digit growth across the retail, project, and almost ̀ 2,100 crore of orders in hand, out of which exports businesses.close to `1,300 crore are in Hi-Tech Agri Input Valuationdivision, about `300 crore in the food division and The company is looking at a quite significant revenue about ̀ 500 crore in the plastic division. growth in India and outside. Management expects
?Recently, the company commenced trial run at its about 25% increase at the EBITDA level earnings and mango processing plant at Elayamuthur near expects to maintain debt at the levels which was Udumalpet, in Tamil Nadu. The crushing capacity achieved in FY17. Now its debt is reaching at of the unit is 200 tonnes of mango per day and comfortable post and this would allow the company to varieties such as Totapuri, Alphonso, etc. To further reduce the interest cost and any stress on the ensure the supply of mangoes, the company has balance sheet. Thus, it is expected that the stock will see tied up with around 750 farmers in the region. a price target of ̀ 144 in 8 to 10 months time frame on a
?The company via its wholly owned subsidiary in target P/E of 21x and FY18 (E) EPS of ̀ 6.88.the United States of America has agreed to acquire 80% stakes in 2 US entities. The two entities of the Unites States, which are the largest micro-irrigation dealers, Irrigation Design and Construction Inc. (IDC and Agri-Valley Irrigation Inc., have entered into an agreement to merge ownership of their business into a newly formed distribution company. The merger of the companies will help Jain Irrigation to forward integrate itself in the value chain and build direct relationship with growers.
?On debt front, the company has reduced its debt by ̀ 550 crore. The current debt is close to ̀ 3,900
Face Value (`) 2.00
52 Week High/Low 119.80/68.80
M.Cap (`Cr.) 4979.56
EPS (`) 3.83
P/E Ratio (times) 27.48
P/B Ratio (times) 1.17
Dividend Yield (%) 0.72
Stock Exchange BSE
% OF SHARE HOLDING
P/E Chart
` in cr
Actual EstimateFY Mar-17 FY Mar-18 FY Mar-19
Revenue 6,769.80 8,277.70 9,382.50Ebitda 940.20 1,177.00 1,380.00Ebit 638.90 856.20 1,002.30Pre-Tax Profit 243.00 457.60 624.80Net Income 176.20 355.90 470.00EPS 3.29 6.88 9.12BVPS 90.35 89.66 98.64RoE 1.60 3.80 4.70
VALUE PARAMETERS
42.37
13.81
05.390
38.44
Foreign
Institutions
Govt Holding
Non Promoter Corp. Hold.
Promoters
Public & Others
45.86
3.052.43
30.7
17.96
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 ̀ 697.05 on 07TH July 2017. It made a 52-week low at ̀ 503.05
on 29th May 2017 and a 52-week high of ̀ 895 on 06th October 2016. The 200 days
Exponential Moving Average (EMA) of the stock on the daily chart is currently at
`674.62
After finding support around 500 levels, stock rebounded sharply and given the
200WEMA crossover on weekly charts, continuously trading higher. In the last
traded week, stock has given the breakout of downward sloping resistance line
by registered gains around 2%, ended near week's high. So, follow up buying can
continue for coming weeks. Therefore, one can initiate long in the range of 690-
695 levels for the upside target of 740-750 levels with SL below 660.
AUROPHARM
The stock closed at ̀ 573.65 on 07th July 2017. It made a 52-week low at ̀ 399.20
on 25th November 2016 and a 52-week high of ̀ 613.65 on 01st August 2016. The
200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at ̀ 525.30
Short term, medium term and long term bias is positive for the stock. After
decent upside from 400 to 590 levels, stock was in consolidation and formed a
“Bull Flag” pattern on weekly chart, which is bullish in nature. Last week, stock
has given the pattern breakout by gained over 6.5% with huge volume so buying
may continue for coming week. Apart from this, it is also forming an “Inverted
Head and Shoulder “pattern on which also suggest buying from current levels.
Therefore, one can buy in the range of 565-570 levels for the upside target of
620-640 levels with SL below 540.
BATAINDIA
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) (MONTHLY)BANKNIFTY OPTION OI CONCENTRATION (IN QY) (MONTHLY)
Overall derivative data indicates long rollover and most of the Nifty July futures positions had been rolled with the average of 9530-9545 futures. Derivative data
indicates bullish scenario to continue. Nifty has multiple strong supports at lower levels around 9600; 9550 and 9500 spot levels. We can see short covering on
every dip as just after start of July series we have been seeing put writers aggressively selling 9500 and 9600 puts, which indicates upside to continue. Put OI
concentration has shifted towards 9500 from 9400 after start of July series in recent trading sessions. In the July option contracts we are seeing options open
interest building up in 9700 calls followed by 9800 calls and 9500 puts, which means that for this expiry nifty will be well supported around 9500 levels. Market
undertone is likely to remain bullish with support of consistent FII buying and short covering. The Implied Volatility (IV) of calls was up and closed at 9.70% while
that for put options closed at 10.03%. The Nifty VIX for the week closed at 10.98%. On the technical front, 9600-9550 spot levels is strong support zone and
current trend is likely to continue towards 9700-9750. The PCR OI for the week closed up at 1.33 from1.02, which indicates OTM put writing.
In lakhs
In 10000 In 10000
BATAINDIA (JUL FUTURE)
Buy: Above `577
Target: `596
Stop loss: `567
BAJAJ-AUTO
BUY JUL 2700. PUT 42.00SELL JUL 2650. PUT 28.00
Lot size: 250BEP: 2686.00
Max. Profit: 9000.00 (36.00*250)Max. Loss: 3500.00 (14.00*250)
OPTIONSTRATEGY
FUTURE
HCLTECH
BUY JUL 820. PUT 9.75SELL JUL 800. PUT 4.55
Lot size: 700BEP: 814.80
Max. Profit: 10360.00 (14.80*700)Max. Loss: 3640.00 (5.20*700)
DERIVATIVE STRATEGIES
INDUSINDBK (JUL FUTURE)
Buy: Above `1530
Target: `1565
Stop loss: `1510
BULLISH STRATEGY
APOLLOTYRE
BUY JUL 260. CALL 6.85SELL JUL 270. CALL 3.35
Lot size: 3000BEP: 263.50
Max. Profit: 19500.00 (6.50*3000)Max. Loss: 10500.00 (3.50*3000)
CASTROLIND (JUL FUTURE)
Sell: Below `398
Target: `382
Stop loss: `406
BEARISH STRATEGY
Call Put
20
.86
11
.27
4.6
7
6.9
1
9.8
6
22
.93
33
.69
37
.27
34
.54
20
.70
35
.68
5.0
3
29
.17
29
.19
44
.02
58
.51
65
.12
56
.10
18
.98
7.5
9
2.4
4
14
.35
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
8000 9000 9200 9300 9400 9500 9600 9700 9800 9900 10000
Call Put
-1.1
4
-0.0
7
-0.4
0
-0.4
1
-0.7
1
-9.6
0
9.0
1
2.0
2 5.1
8
4.8
1
5.6
3
-0.0
7
-0.9
0
-0.2
6
13
.03
8.0
9
29
.96
33
.53
10
.79
-0.5
0
0.0
6
-0.3
4
-15.00
-10.00
-5.00
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
8000 9000 9200 9300 9400 9500 9600 9700 9800 9900 10000
Call Put
9.7
8
1.2
3
5.3
6
3.9
1 14
.09
4.2
9
5.1
1
57
.06
43
.38
17
.17
8.9
8
7.8
6
27
.13
57
.85
89
.32 1
03
.20
7.1
8
5.2
2
28
.07
6.9
4
2.2
2
1.8
2
0.00
20.00
40.00
60.00
80.00
100.00
120.00
21000 21500 22000 22500 23000 23200 23300 23500 24000 24500 25000
Call Put
-0.0
5
0.0
0
-0.0
6
-0.1
5
-1.3
6
0.7
4
2.8
6
0.0
3
6.4
5
0.1
6
0.5
4
-2.5
8
2.7
1
21
.64
45
.05
13
.63
3.8
6
3.2
0
5.1
2
0.6
2
0.2
4
0.1
9
-10.00
0.00
10.00
20.00
30.00
40.00
50.00
21000 21500 22000 22500 23000 23200 23300 23500 24000 24500 25000
8
In lakhs
9
DERIVATIVES
FII’s ACTIVITY IN DERIVATIVE SEGMENT
SENTIMENT INDICATOR (NIFTY)
06-Jul 05-Jul 04-Jul 03-Jul 30-Jun
DISCOUNT/PREMIUM -1.20 7.70 10.75 6.80 -3.50
COST OF CARRY% 0.56 0.65 0.65 0.62 0.57
PCR(OI) 1.33 1.27 1.19 1.09 1.02
PCR(VOL) 1.20 1.15 1.11 1.03 1.04
A/D RATIO(NIFTY 50) 1.27 3.25 0.70 3.64 0.76
A/D RATIO(ALL FO STOCK)* 1.04 4.80 0.49 4.94 1.15
IMPLIED VOLATILITY 9.70 9.76 10.23 10.10 10.50
VIX 10.98 11.15 11.28 11.20 11.20
HISTORY. VOL 8.71 8.87 9.09 9.37 8.22
*All Future Stock
SENTIMENT INDICATOR (BANKNIFTY)
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 Future Stock
Top 10 short build upTop long build up
LTP % Price Change Open interest %OI Chng
ICICIPRULI 489.10 3.86% 1272700 282.42%
MANAPPURAM 102.55 3.95% 13212000 259.22%
CHENNPETRO 363.50 2.12% 385500 112.40%
PAGEIND 17444.20 4.11% 40550 68.26%
SRTRANSFIN 1112.20 10.64% 4638000 63.88%
NATIONALUM 69.05 5.82% 6176000 48.75%
TATACHEM 648.55 6.56% 4233000 33.74%
NESTLEIND 6943.20 2.59% 82400 29.36%
HDIL 87.35 1.98% 38776000 28.30%
ASHOKLEY 101.00 9.01% 57890000 27.05%
LTP % Price Change Open interest %OI Chng
REPCOHOME 812.85 -2.08% 270200 101.04%
SREINFRA 114.40 -1.63% 3585000 85.75%
NIITTECH 555.05 -3.88% 700500 44.58%
DCBBANK 194.85 -2.16% 7087500 36.36%
MUTHOOTFIN 448.90 -1.82% 2259000 22.84%
JUSTDIAL 362.20 -2.53% 4593600 18.73%
AJANTPHARM 1518.80 -2.10% 381200 17.36%
KSCL 648.80 -1.47% 4527000 15.63%
CADILAHC 511.70 -3.11% 3369600 15.59%
GMRINFRA 19.15 -3.53% 274275000 15.41%
In Cr. In Cr.
06-Jul 05-Jul 04-Jul 03-Jul 30-Jun
DISCOUNT/PREMIUM 14.10 47.95 41.85 39.10 -10.00
COST OF CARRY% 0.69 0.65 0.65 0.62 0.69
PCR(OI) 1.80 1.83 1.76 1.71 1.48
PCR(VOL) 1.28 1.11 1.15 1.23 1.37
A/D RATIO(BANKNIFTY) 5.00 11.00 0.33 11.00 1.40
#A/D RATIO 6.33 21.00 0.16 10.00 1.10
IMPLIED VOLATILITY 12.18 12.37 13.07 13.20 13.64
VIX 10.98 11.15 11.28 11.20 11.20
HISTORY. VOL 11.93 12.07 12.12 12.44 12.77
- 91
89
8
62
1
- 90
2
- 55
1
- 64
0 - 53
3
14
7
16
4
- 54
4
-1000
- 800
- 600
- 400
- 200
0
200
400
600
800
1000
22-Jun 23-Jun 27-Jun 28-Jun 29-Jun 30-Jun 3-Jul 4-Jul 5-Jul 6-Jul
62
7
10
69
32
70
3 84
0
23
87
13
41
70
9
14
22
19
65
0
500
1000
1500
2000
2500
3000
22-Jun 23-Jun 27-Jun 28-Jun 29-Jun 30-Jun 3-Jul 4-Jul 5-Jul 6-Jul
10
SPICES
Soybean futures (Aug) may continue to show upside momentum & is expected to trade higher towards 3100-3120 levels. The market participants are closely watching the sowing progress of soybean which has come to a halt in key soybean growing areas of Madhya Pradesh and Maharashtra due lack of rain. Soybean sown around 15-20th June had successful germination but after that due to lack of rain most of the crop growth is not satisfactory. Soybean crop urgently need rains in coming 4-5 days and if rains do not occur, then there will be huge damage to soybean crop. After 15th July re-sowing of soybean crop cannot be done and farmers will shift to other crops or leave the land uncultivated. Mustard futures (Aug) is likely to trade higher & test 3745-3800 levels. Lower level buying & the increasing seasonal demand during the monsoon may push the demand of mustard oil. In last fifteen days of June month, processors did not procured mustard seed due to the lack of clarity on GST which depleted inventories so now the processors have increased their buying interest to add stock to their inventory, causing mustard prices to steadily move higher. Ref. soy oil futures (Aug) may witness consolidation in the range of 635-655 levels. The upside may remain capped as the sentiments of the soy oil prices on CBOT are negative as the EPA proposed advanced biofuels requirements for 2018 at 4.24 billion gallons, down slightly from 2017 requirements. CPO futures (July) may trade with an upside bias & if the counter crosses the resistance near 488 levels, then can go further higher towards 492 levels. The fundamentals show up that as pipeline is dry and also retail demand may pick up due to monsoon season.
OIL AND OILSEEDS
OTHER COMMODITIES
Kapas futures (April) may witness upside momentum owing to lower level buying taking support near 860 levels. The fundamentals highlight that in days to come, there is expectation of revival in demand after a long silent bid from spinning mills is keeping the uptrend alive in the market. However, the revival in demand may remain temporary as major local spinning mills were interested in large scale procurement of new crop which is expected to hit the market from September onwards. Large spinning mills were satisfied with the stocked inventories amid addition of early April commitments of cotton imports hitting the dockyard. On the international market, ICE cotton futures is also on the rising phase on physical demand for the natural fiber as well as a surprising drop in crop condition in the United States. Cotton oil seed cake futures (Aug) may trade higher towards 1700-1720 levels taking support near 1600 levels. The buying activities in the spot market is likely to improve in the coming session, as pipeline has turned dry as buyers in the recent times have halted procurement during the last few weeks. Cotton oil cake stock is ample in the country, but expectations of pickup in demand is due to slow progress of monsoon and this may give an upside push to prices. Mentha oil futures (July) is looking bullish & can test 955 levels. At the spot markets, mentha oil prices are likely to get support from thin supplies & adverse weather in few parts followed by farmer's engagement in kharif Paddy sowing. Lower supply & good demand has led to sharp rise of around Rs 60/kg in the spot markets during the last couple of days.
Bullion counter can remain on weaker path as recovery in greenback and lack of safe haven demand is keeping prices under pressure but geopolitical tensions between US and North Korea can lead to short covering. Local currency rupee can move in the range of 64-65.5. Gold can face resistance near $1260 in COMEX and 28700 in MCX while it has support near $1190 in COMEX and $27500 in MCX. Silver has key support near 36000 in MCX and $15.30 in COMEX. And it has resistance near 39000 in MCX and $17.00 in COMEX. US initial claims for state unemployment benefits increased 4,000 to a seasonally-adjusted 248,000 for the week ended July 1. It was the third straight weekly increase in claims. The fed minutes showed that the central bank was split on how inflation might affect the future pace of interest rate increases. According to the World Gold Council (WGC), an increase in taxes on gold sales in India could curb short-term demand from the world's No. 2 consumer of the metal. Faltering appetite in a country where gold is used in everything from investment to wedding gifts could further drag global prices, already trading near their lowest level in eight weeks. The WGC kept its 2017 gold demand estimate for India at 650 to 750 tonnes, well below the average annual consumption of 846 tonnes in the past five years. SPDR Gold Trust GLD, the world's largest gold-backed exchange traded fund, holdings stood at 840.67 tonnes recently.
BULLIONS
Crude oil prices may continue to trade on volatile path as supply glut in US is keeping the prices on weaker side but fall in crude inventories can cap the downside. U.S. crude output fell 100,000 barrels per day (bpd) to 9.3 million bpd recently which was steepest weekly fall since July 2016. Overall crude oil can trade in the range of 2750-3100 in MCX. News of the production rise outweighed positive sentiment from falling crude and gasoline inventories in the United States. U.S. crude inventories fell by 6.3 million barrels in the week to June 30, to 502.9 million barrels in last week EIA report. The rising U.S. output comes as supplies from the Organization of the Petroleum Exporting Countries (OPEC) rose for a second month in a row in June despite its pledge to hold back production between January this year and March 2018. U.S. crude oil exports reached 1.02 million barrels per day in May, slightly higher than the 1.00 million bpd in April. Natural gas may trade on volatile path in the range of 180-210 in MCX. Natural gas stayed near the lowest level in around four months amid bearish weather forecasts that should limit demand for the fuel. Temperatures are likely to be mostly normal in the eastern third of the U.S. during the next two weeks, according to updated weather forecasting models, underlining concern over decreased summer demand in the weeks ahead. Prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on summer heating demand.
ENERGY COMPLEX
Major base metals like lead, nickel and zinc and aluminium can continue to head higher on decline in inventories and renewed demand. Copper may move in the range of 365-395 in MCX. Chilean mining company Antofagasta Minerals one of the biggest global copper producers, is facing potential strikes from workers at its Zaldivar mine and by supervisors at Centinela as contract talks continue. Lead can trade in the range of 143-156. Zinc can move in the range of 173-187. Zinc has hit its highest in nearly three months as the market frets about shortages, dwindling stocks and expectations of strong demand from top consumer China. China accounts for nearly half of global zinc demand, estimated at about 15 million tonnes this year. China will send inspection teams in August to check the results of a move to eliminate low-grade steel products in an effort to maintain the policy and prevent mills from reopening. Nickel can move in the range of 565-615 in MCX. Nickel came under pressure after new environment minister lifted restriction on issuing environmental permits to projects, including mine exploration and development, reversing previous order by his controversial predecessor dismissed in May. Aluminum prices may trade in the range of 122-128 in MCX. Aluminum prices had climbed to more than five-week highs recently as worries about supply from top producer China escalated on market talk that local smelters would be forced to shut capacity. There are ongoing investigations into Chinese aluminium production capacity, which hasn't been approved by central government.
Turmeric futures (Aug) may gain for the sixth consecutive week as the trend is bullish & in days to come it can test 7500 levels. Trading in Turmeric markets resumed after a week long holiday amid uncertainties over GST. However Maharashtra turmeric market was still remained closed, but likely to open by Monday. Turmeric prices traded better in Erode and Nizamabad market due to good demand. Buyers have turn active to cover turmeric in the spot market to meet future commitments. The market participants are optimistic for turmeric prices & are on the bullish side due to prospects of acreage to fall this season mainly due to poor rates in 2016-17 season followed by low rainfall in producing states. Cardamom futures (Aug) is expected to face resistance near 1050-1060 levels. There is sluggishness in the spot markets due to the slow down by buyers. At present, around 50% of the arrivals were of the new crop and in the first round of picking the size of the capsules used to be small besides having a comparatively inferior quality. Coriander futures (Aug) is likely to take support near 4800 levels & the downside may remain capped. Coriander markets opened after a week long holiday amid GST row. Earlier traders have opted to stay sideline as they were in confusion how to trade under new tax regime, but with doubts being getting cleared, they have started trade in the spot markets. Jeera futures (Aug) is expected to take support near 18000 levels. Any sharp downfall may remain restricted as the fundamentals are owing to very less stock left with farmers and traders is seems to be tight to meet demand for remaining 8 months.
BASE METALS
11
TECHNICAL RECOMMENDATIONS
COMMODITY
COPPER MCX (AUGUST) contract closed at `382.30 on 06th July'17. The contract made its high of
`412.50 on 01st Mar'17 and a low of ̀ 357.65 on 08th May'17. The 18-day Exponential Moving Average of
the commodity is currently at ̀ 380.16.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 55. One can sell in the
range of ̀ 384-385 with the stop loss of ̀ 388 for a target of ̀ 375.
ZINC MCX (JULY) contract closed at 180.45 on 06th July'17. The contract made its high of 182.85 on
03rd July'17 and a low of `156.70 on 07th June'17. The 18-day Exponential Moving Average of the
commodity is currently at ̀ 175.43.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 62. One can sell in the
range of ̀ 181.50 – 182.50 with the stop loss of ̀ 184 for a target of ̀ 176.
` `
ALUMINIUM MCX (JULY) contract closed at 125.30 on 06th July'17. The contract made its high of
`127.10 on 26th May'17 and a low of ̀ 119.75 on 26st June'17. The 18-day Exponential Moving Average of
the commodity is currently at ̀ 123.52.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 45. One can sell in the
range of ̀ 125.60 – 126.10 with the stop loss of ̀ 127.50 for a target of ̀ 121.
`
COPPER MCX (AUGUST)
ZINC MCX (JULY)
ALUMINIUM 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 AUG 3023.00 06.07.17 UP 3023.00 2900.00 - 2850.00
NCDEX JEERA AUG 18520.00 18.05.17 Down 17935.00 - 18950.00 19000.00
NCDEX REF.SOY OIL AUG 647.10 15.06.17 Sideways
NCDEX RM SEEDS AUG 3665.00 06.07.17 UP 3665.00 3500.00 - 3550.00
NMCE PEPPER MINI AUG 51069.00 11.05.17 Down 55957.00 - 52000.00 54000.00
NMCE RUBBER AUG 13225.00 30.03.17 Down 14402.00 - 13350.00 13500.00
MCX MENTHA OIL JULY 933.10 23.03.17 Down 978.20 - 950.00 970.00
MCX CARDAMOM AUG 1088.50 06.07.17 Sideways
MCX SILVER SEP 37452.00 04.05.17 Down 38052.00 - 38800.00 39500.00
MCX GOLD AUG 28116.00 04.05.17 Down 28072.00 - 28600.00 29200.00
MCX COPPER AUG 382.30 29.06.17 UP 388.25 372.00 - 365.00
MCX LEAD JULY 147.70 23.06.17 UP 142.30 142.00 - 140.00
MCX ZINC JULY 180.45 23.06.17 UP 174.50 171.00 167.00
MCX NICKEL JULY 589.30 30.03.17 Down 653.00 - 610.00 630.00
MCX ALUMINIUM JULY 125.30 12.04.17 Sideways
MCX CRUDE OIL JULY 2947.00 15.06.17 Down 2903.00 - 2965.00 2985.00
MCX NATURAL GAS JULY 186.50 01.06.17 Down 194.30 - 202.00 205.00
TREND SHEET
*Closing as on 06.07.17
COMMODITY
NEWS DIGEST
It was another round of selling in energy and bullion counter, which brought fresh 52-week low
for the CRB Commodity Index. The CRB Index touched a low below 168 last to last week not
that far above the January 2016 lows at 154.85. Recovery in dollar index amid uncertainties in
economic performance of major countries and geopolitical tensions refrained investors to
trade aggressively in commodities. Gold prices slipped below 28000 per ten gram, amid a weak
trend overseas and slump in demand from local jewelers. Muted demand from industrial units
and coin makers at the domestic spot market, coupled with a weak trend overseas, kept the
silver prices depressed too. It saw a wild swing in the prices. In base metals, only zinc and
aluminum saw some upside, rest of the base metals prices slashed down. Nickel received a
heavy blow and prices plummeted following comment by an Indonesia mining ministry official
that two more companies have been issued recommendations to export mineral ores. Earlier
in May'17, government had allowed Indonesian largest nickel producer PT Aneka Tambang to
ship 2.7 million tonnes of nickel ore and 850,000 tonnes of bauxite. Both crude and natural gas
prices suffered another round of selling despite lower export from OPEC. OPEC's total crude
and condensate exports stood at 25.187 million bpd last month, down from 25.424 million bpd
in May, and down from 25.493 million bpd in October 2016.
GST created some confusion in the spot agri market, but those are solving gradually. In agri
counter, some bullish momentum was witnessed in oilseeds and edible oil counter owing to
firm international market. Strong demand continues from processors due to improved sales of
soy oil and soymeal. Guar counter, which is monsoon sensitive reacted on above average
monsoon and closed the counter on negative note. Even cotton counter saw some firm move.
Cotton superior quality surged as sellers showed reluctance to offload at lower prices. Spices
counter gave opportunities to both buyers and sellers. Turmeric and cardamom prices
augmented whereas jeera and dhaniya shed some of their previous gain. Wheat prices
extended gains in the major markets of Rajasthan on improved demand from local mills. There
is no significant improvement in demand for wheat from south Indian markets.
WEEKLY COMMENTARY
COMMODITY UNIT 06.07.17 DIFFERENCEQTY. QTY.
CASTOR SEED MT 53449.00 50568.00 -2881.00
CORIANDER NEW MT 24436.00 23230.00 -1206.00
COTTON SEED O.C MT 13256.00 14734.00 1478.00
GUARGUM MT 18457.00 16827.00 -1630.00
GUARSEED MT 12544.00 11676.00 -868.00
JEERA NEW MT 1025.00 1007.00 -18.00
MAIZE MT 3289.00 3732.00 443.00
RM SEED MT 30313.00 30071.00 -242.00
SOYBEAN MT 43531.00 36950.00 -6581.00
TURMERIC MT 5430.00 5351.00 -79.00
WHEAT MT 10540.00 10540.00 0.00
29.06.17 COMMODITY UNIT 05.07.17 DIFFERENCE
QTY. QTY.
CARDAMOM MT 0.30 0.90 0.60
COTTON BALES 39600.00 39200.00 -400.00
GOLD KGS 20.00 20.00 0.00
GOLD MINI KGS 6.00 456.00 450.00
GOLD GUINEA KGS 4.25 4.25 0.00
MENTHA OIL KGS 841280.30 949315.10 108034.80
SILVER (30 KG Bar) KGS 5080.57 8996.01 3915.44
29.06.17
•OPEC exported 25.92 mbpd in June, up 450,000 bpd from May and 1.9 million bpd more than year earlier.
•US factory goods orders dropped 0.8%, the Commerce Department stated after a revised 0.3% decline in April.
•Saudi Arabia could raise prices for the heavy crude it sells to Asia in August to the highest in more than three years.
•China's central bank injected a net 99.5 billion yuan into the financial system via short- and medium-term liquidity tools in June, up 95% from the previous month.
•The government's wheat procurement for 2017-18 marketing year (Apr-Mar) has ended at 30.8 million tons, 34.1% higher than 22.9 million tons procured in the previous year, food ministry data said.
•NCDEX has increased the weightage of wheat in the Dhaanya index to 26% from 21% for Jul-Sep. Sugar has been removed from the index while barley was added.
•Global cotton output is now estimated to rise to 24.57 million tons in 2017-18, against the estimate of 24.01 million tons projected in the previous month. Consumption is expected to rise to 24.73 million tons, compared with 24.60 million tons estimated in June. - International Cotton Advisory Committee.
•The Food and Agricultural Organization has cut its estimate for global wheat production for 2017-18 to 739.9 million tons from 743.2 million tons projected earlier.
•India's guar gum exports more than doubled on year to 107,458 tons during Apr-May, data from the Agricultural and Processed Food Products Export Development Authority showed.
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
5.28%
4.69%
2.27% 2.15%
1.35%
-3.77%-3.45%
-2.90%
-1.66% -1.64%
-5%
-4%
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
CARDAMOMMENTHA
OILCASTOR
SEED COTTON CPONATURAL
GASSILVER MICRO NICKEL COPPER
CRUDE OIL
6.21%
3.35% 3.27%2.96%
2.22%
-3.68%
-2.96% -2.88%
-1.41%-1.13%
-6%
-4%
-2%
0%
2%
4%
6%
8%
SOYAMEAL SOYABEAN TURMERICMAIZE RABI WHEAT GUAR SEED CORIANDER JEERA
GOLD HEDGE COPPER
COMMODITY
COMMODITY EXCHANGE CONTRACT 30 06.07.17 CHANGE%
ALUMINIUM LME 3 MONTHS 1908.50 1925.50 0.89
COPPER LME 3 MONTHS 5907.50 5828.50 -1.34
LEAD LME 3 MONTHS 2274.00 2266.00 -0.35
NICKEL LME 3 MONTHS 9280.00 9090.00 -2.05
ZINC LME 3 MONTHS 2754.00 2785.00 1.13
GOLD COMEX AUG 1242.30 1223.30 -1.53
SILVER COMEX SEPT 16.63 15.98 -3.89
LIGHT CRUDE OIL NYMEX AUG 46.04 45.52 -1.13
NATURAL GAS NYMEX AUG 3.04 2.89 -4.78
.06.17
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
29.06.17 06.07.17
ALUMINIUM 1416825 1397375 -19450
COPPER 248675 315925 67250
NICKEL 373914 370284 -3630
LEAD 169750 161925 -7825
ZINC 297875 284850 -13025
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 30.06.17 06.07.17 CHANGE(%)
Soybean CBOT JULY Cent per Bushel 942.25 980.75 4.09
Soy oil CBOT JULY Cent per Pound 33.04 32.90 -0.42
CPO BMD SEPT MYR per MT 2459.00 2561.00 4.15
Sugar LIFFE AUG 10 cents per MT 403.70 415.90 3.02
13
SPOT PRICES (% change) Hedge Fund in the commodity derivatives market
In a move to deepen the market and step up liquidity, the Securities and Exchange Board of India (Sebi) has decided to allow Category-III Alternative Investment Funds (AIFs) to participate in the commodity derivatives market. The Sebi board finalised norms in this regard. Category-III AIFs, also known as hedge funds, become the first category of institutional investors allowed in commodity derivatives. Category III AIFs are those that employ diverse or complex trading strategies and may employ leverage, including through investment in listed or unlisted derivatives.
At present, institutional participants are not allowed to participate in the commodity derivatives market in India. Consequently, the commodity derivatives markets lack the desired liquidity and depth for efficient price discovery and price risk management, Sebi said in a circular.
Highlights of decision
• Hedge funds have been allowed to participate in all commodity derivative products being traded on the commodity derivatives exchanges as 'clients'. All rules, including position limits, applicable to clients will apply to them.
• Initially only a few large domestic investment banks and/or private equity-promoted funds would enter this space.
• In a circular issued by the Sebi, hedge funds should not invest more than 10% of the investable funds in one underlying commodity. This limit is also applicable to these funds in equity derivatives.
• Hedge funds are allowed to leverage or borrow funds subject to consent from investors in the fund and subject to a maximum limit as specified by the Sebi from time to time.
• They have to take the consent of existing investors for participating in commodity derivatives; those who don't agree are to be given an exit option.
• Commodity exchanges have been asked by the Sebi to amend their relevant rules to permit this.
• Category-III AIFs may also be set up by foreign investors. Hence, the Sebi has in a way opened the commodity derivatives market for investors from abroad, too.
• The significant participation of Hedge Fund in the commodity derivatives market will not only provide access to a fast-growing asset class to the investor community but also to unlock the potential this asset class holds.
• The presence of AIFs will spur the infusion of research-based information, capital, innovation and new trading strategies in India's commodity markets, improving the quality of price discovery, lending it a degree of depth and vibrancy which matches the global standards.
• Sebi is also considering allowing mutual funds in commodity derivatives.
A hedge fund is a pool of money that takes both short and long positions, buys and sells equities, initiates arbitrage, and trades bonds, currencies, convertible securities, commodities and derivative products to generate returns at reduced risk. Commodities often rise during inflationary economic environments. This causes the prices of raw materials such as precious metals and natural resources to go up. However, when commodity prices suffer, hedge funds in the sector generally perform poorly. Although hedge funds seek to profit during bullish and bearish markets, many hedge funds generally have long biases.
National Commodity & Derivatives Exchange spokesperson said, “Participation in commodity futures and options would boost overall market participation, depth and liquidity. Hedgers would also be benefited.” This is important for commodity options to bring liquidity and risk taking.
-4.53
-3.03
-2.45
-2.08
-0.99
-0.78
-0.24
-0.13
0.00
0.00
0.36
0.58
1.16
1.74
1.90
3.71
-6.00 -4.00 -2.00 0.00 2.00 4.00 6.00
CORIANDER (KOTA)
GUAR SEED (JODHPUR)
GUAR GUM (JODHPUR)
SUGAR (KOLKATA)
RAW JUTE (KOLKATA)
GUR (MUZAFFARNGR.)
SOYABEAN (INDORE)
BARLEY (JAIPUR)
JEERA (UNJHA)
COTTON (KADI)
MUSTARD (JAIPUR)
COTTON SEED OIL CAKE (AKOLA)
PEPPER MALABAR GAR (KOCHI)
WHEAT (DELHI)
CRUDE PALM OIL (KANDLA)
TURMERIC (NIZAMABAD)
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 64.86 65.12 64.85 64.95
EUR/INR 74.10 74.21 73.67 73.92
GBP/INR 84.35 84.57 83.89 84.17
JPY/INR 57.72 57.76 57.26 57.36
News Flows of last week
05th July India private sector growth at 8-month high
05th July Euro zone Retail sales rise more than forecast
05th July Fed Minutes: Balance Sheet Reduction Likely In "Couple Of
Months"
05th July U.S. Factory Order drop more than expected in May
06th July U.S. Weekly Jobless claims unexpectedly inch up to 248,000
06th July U.S. Service Sector growth unexpectedly accelerates In June
EUR/INR (JULY) contract closed at 73.92 on 06th July'17. The contract made its high of 74.21 on 03rd July'17 and a low of 73.67 on 05th July'17 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at 73.25.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 68.78. One can buy above 74.10 for a target of 74.80 with the stop loss of 73.75.
(* NSE Currency future, Source: Spider, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
Market Stance
Indian rupee fell against the American dollar in the week gone by and tested
one month low on local bourses due to fresh demand for the American
currency from importers. Moreover, the implementation of the Goods and
Services Tax (GST) too spelt worries that the new indirect tax regime could
bring some renewed upturn in inflation and may impact the economic growth.
The GST; India's biggest tax reform since Independence came into force on
July 1. On the global front, the greenback held onto gains against the other
major currencies but gains were limited amid expectations for tighter monetary
policy by major central banks. However, sharp losses in local unit remain capped
amid robust capital inflows in domestic equities. In other currencies, the dollar
hit a seven-week high against the yen after the Bank of Japan increased its
purchases of government bonds, expanding monetary policy at a time when
other major central banks are moving towards tightening.
EUR/INR
USD/INR (JULY) contract closed at 64.95 on 06th July'17. The contract made its high of 65.12 on 03rd July'17 and a low of 64.85 on 03rd July'17 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at 64.78.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 58.34. One can sell below 64.75 for the target of 64.20 with the stop loss of 65.05.
GBP/INR (JULY) contract closed at 84.17 on 06thJuly'17. The contract made its high of 84.57 on 03rd July'17 and a low of 83.89 on 05thJuly'17 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at 83.39.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 62.61. One can sell below 83.50 for a target of 82.90 with the stop loss of 83.80.
JPY/INR (JULY) contract closed at 57.36 on 06th July'17. The contract made its high of 57.76 on 03rd July'17 and a low of 57.26 on 05thJuly'17 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at 57.74.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 41.22. One can sell around 57.25 for a target of 56.50 with the stop loss of 57.60.
USD/INRTechnical Recommendation
Economic gauge for the next week
Date Currency Event Previous
10th July USD Consumer Credit Change 8.211th July GBP Inflation Report Hearings -12th July GBP ILO Unemployment Rate (3M) 4.612th July USD Fed's Beige Book -13th July USD Continuing Jobless Claims 1.95613th July USD Initial Jobless Claims 24814th July EUR Trade Balance s.a. 19.614th July EUR Trade Balance n.s.a. 17.914th July USD Retail Sales (MoM) -0.314th July USD Retail Sales control group 014th July USD Consumer Price Index (YoY) 1.914th July USD Consumer Price Index (MoM) -0.114th July USD Industrial Production (MoM) 0
GBP/INR JPY/INR
14
IPO
IPO NEWS
*Closing price as on 06-07-2017
Company Sector M.Cap(In Rs Cr.) Issue Size (in Rs Cr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)
GTPL Hathway Ltd Entertainment 1913.56 484.00 4-Jul-17 170.00 170.00 171.75 1.03
ERIS Lifesciences Health Care 8235.56 1741.00 29-Jun-17 603.00 612.00 597.45 -0.92
Tejas Networks Limited Telecom Equipment 2919.26 776.00 26-Jun-17 257.00 257.00 318.50 23.93
PSP Projects Ltd Construction 1007.64 212 .00 29-May-17 210.00 195.00 278.05 32.40
HUDCO Housing Finance 13883.18 1220.00 18-May-17 60.00 73.55 68.70 14.50
S Chand and Company Printing & Stationary 1693.13 320.00 2-May-17 670.00 689.00 490.25 -26.83
Shankara Building Products Retail 2253.97 345.00 5-Apr-17 460.00 545.00 959.60 108.61
CL Educate Education 601.94 238.00 31-Mar-17 502.00 398.00 425.60 -15.22
Avenue Supermart Retail 56230.01 1870.00 21-Mar-17 299.00 604.40 880.30 194.41
Music Broadcast Media 2058.36 488.53 17-Mar-17 333.00 420.00 360.00 8.11
BSE Limited Finance 5692.84 1243.00 3-Feb-17 806.00 1085.00 1060.55 31.58
*
IPO TRACKER
15
16
FIXED DEPOSIT MONITOR
* Interest Rate may be revised by company from time to time. Please confirm Interest rates before submitting the application.
* For Application of Rs.50 Lac & above, Contact to Head Office.
* Email us at [email protected]
FIXED DEPOSIT COMPANIES
(FOR TRUST ONLY) (FOR WOMEN ONLY)
HDFC PREMIUM DEPOSIT FOR TRUST & INSTITUTION
(UPTO RS. 5 CR.)
0.25% FOR SENIOR CITIZEN IF APP ABOVE
RS. 50,000/- & 0.10% IF APP UPTO RS.50,000/-
20000/- BUT
40000/-
IN MONTHLY
0.50% ADD. INTEREST TO SR. CITIZEN, EMPLOYEES,SHAREHOLDERS AND PERSON INVESTING RS.5 LACSAND ABOVE - MAX. 0.50%
0.50% ADD. INTEREST TO SR. CITIZEN, EMPLOYEES,SHAREHOLDERS AND PERSON INVESTING RS.5 LACSAND ABOVE - MAX. 0.50%
INDUSTRY & FUND UPDATE
MFs' asset base from smaller cities up 47% at ̀ 3.41 lakh cr
Contribution of the country's smaller towns - beyond top-15 cities (B15) in industry parlance - to mutual funds' asset base surged 47 per cent to ̀ 3.41 lakh crore by May-end due to investor-friendly initiatives by Sebi. Mutual funds' AUM from B15 locations grew from ̀ 2.32 lakh crore in May 2016 to ̀ 3.41 lakh crore at the end of May 2017, according to latest data available with AMFI. Currently, B15 accounts for 18 per cent of the total assets of the industry. Besides, these locations have a better balance of equity and non-equity assets. Moreover, a large proportion of direct investments were in non-equity oriented schemes where institutional investors dominate. B15 cities are those which are beyond these top 15 cities — New Delhi (including NCR), Mumbai (including Thane and Navi Mumbai), Kolkata, Chennai, Bengaluru, Ahmedabad, Baroda, Chandigarh, Hyderabad, Jaipur, Kanpur, Lucknow, Panjim, Pune and Surat. About 54 per cent of the assets from B15 locations is in equity schemes, while the same is 31 per cent for T15 assets. About 26 per cent of assets held by individual investors is from B15 locations and 10 per cent of institutional assets come from such places. On the other hand, institutional assets are concentrated in T15 locations, accounting for a little over 90 per cent of the total. Further, about 9 per cent of the retail investors chose to invest directly, while over 17 per cent of HNI assets were invested directly. "About 41.4 per cent of the assets of the mutual fund industry came directly. A large proportion of direct investments were in non-equity oriented schemes where institutional investors dominate," AMFI noted. Together, all 42 mutual fund houses managed assets worth Rs 19.04 lakh crore at the end of May 31, 2017. This was 38 per cent higher from ̀ 13.82 lakh crore managed by the industry in May last year.
Mirae Asset Mutual Fund's AUM crosses ̀ 10,000 crore
Mirae Asset Mutual Fund 's AUM has crossed the important mark of `10,000 crore on 5 July, a growth of around 50 per cent in this calendar year and more than tripling of AUM from around ̀ 3,440 crore in March 2016, a press release from the company said. Mirae Asset MF, which has completed a little over nine years in India, has witnessed a surge in the number of new clients, with the investor folios crossing 5 lakh (with close to 250,000 SIP investors). The SIP flows have also grown significantly, from ̀ 29 crore in March 2016 to monthly inflows of Rs 115 crore in May 2017. Mirae Asset (India) also provides Advisory Services to Hong Kong office for equity investments and Korea offices for both Equity and Debt Investments. The mix of domestic and International businesses is providing stable growth for Mirae Asset India business. Mirae Asset Global Investments (India) Pvt. Ltd currently manages 5 equity funds, 3 debt funds and 1 fund of fund scheme.
MF distributors, IFAs need to enrol for GST
Mutual fund distributors and IFAs (independent financial advisors) will have to enrol for GST, even if the commission they earn is less than Rs 20 lakh in a financial year. As per the communication from Association of Mutual Funds in India (AMFI), from July 1, fund houses will deduct GST from the commission paid to distributors who do not have a GST registration number and pass this tax to the government. They will not deduct it if a GSTN number is provided to them. For distributors with GST registration, asset management company (AMC) will continue to use the forward charge mechanism, that is AMCs will pay gross commission to them. However, such distributors will have to raise an invoice for the commission in a specified format. This is done by AMFI in consultation with chartered accountancy firm PWC. Distributors provide service to the asset management company which is considered as an inter-state supply. Hence, fund houses have to deduct GST unless they have a registration number. Typically, with most fund houses in Maharashtra, distributors outside Maharashtra will have to register for GST.
MF's AUM rises 7 per cent to ̀ 19.52 lakh cr in Apr-Jun quarter
Mutual fund industry's asset base rose 7 per cent to all time high of ̀ 19.52 lakh crore at the end of June quarter, driven largely by strong participation from retail investors. In comparison, assets under management (AUM) of the MF industry, comprising 42 players, were at ̀ 18.3 lakh crore during the January-March quarter, as per the data of Association of Mutual Funds in India (Amfi). The industry's AUM had crossed ̀ 10 lakh crore in May 2014, and is expected to soon reach ̀ 20 lakh crore. Of the 42 fund houses, as many as 35 MFs witnessed growth in their asset base, while five saw decline in their AUMs. The Amfi data did not include assets base of Sahara MF and SREI MF. ICICI Prudential MF continued to be the largest with an AUM of `2,60,225 crore (excluding fund of funds) followed by HDFC MF (`2,53,044 crore), Reliance MF (`2,22,964 crore), Birla Sun Life MF (`2,05,715 crore) and SBI MF (`1,68,816 crore). Axis MF has entered in the top 10 league with an AUM of ̀ 63,599 crore .
MUTUAL FUND
NEW FUND OFFER
Scheme Name Reliance Dual Advantage Fixed Tenure Fund XI - Plan C (G)
Fund Type Close-Ended
Fund Class Growth
Opens on 19-Jun-2017
Closes on 13-Jul-2017
Investment Objective To generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or
before the maturity of the Scheme along with capital appreciation through equity exposure.
Min. Investment Rs. 5000
Fund Manager Sanjay H. Parekh / Anju Chajjer
Scheme Name Sundaram Long Term Micro Cap Tax Advantage Fund - Sr. - VI - Reg. (G)
Fund Type Close-Ended
Fund Class Growth
Opens on 23-Jun-2017
Closes on 22-Sep-2017
Investment Objective To generate capital appreciation over a period of ten years by predominantly investing in equity and equity-related instruments
of companies that can be termed as micro-cap.
Min. Investment Rs. 5000
Fund Manager S Krishnakumar / Dwijendra Srivastava
17
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 06/07/2017Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
MUTUAL FUND Performance Charts
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Motilal Oswal MOSt Focused Long Term F - Reg - G 16.19 21-Jan-2015 466.89 7.55 25.54 37.09 N.A 21.65 1.99 0.82 0.24 60.29 37.79 N.A 1.92
Mirae Asset Tax Saver Fund - Reg - G 14.84 28-Dec-2015 389.03 8.99 26.33 36.54 N.A 29.55 1.98 0.93 0.24 61.39 32.71 4.39 1.51
Principal Tax Savings Fund 192.80 31-Mar-1996 290.73 7.98 25.87 30.51 14.99 17.16 2.23 1.03 0.16 49.55 42.02 2.67 5.76
HSBC Tax Saver Equity Fund - Growth 35.82 05-Jan-2007 184.91 6.95 27.02 28.37 14.72 12.91 2.13 0.99 0.14 53.25 32.55 12.82 1.37
IDFC Tax Advantage (ELSS) Fund - Reg - G 50.65 26-Dec-2008 600.93 8.29 27.53 27.39 16.72 20.94 1.93 0.82 0.07 49.43 30.21 14.05 6.31
L&T Tax Advantage Fund - Reg - G 50.84 27-Feb-2006 2222.37 7.02 24.02 27.12 16.31 15.39 1.92 0.87 0.14 47.53 39.78 3.01 9.68
HDFC Taxsaver - Growth 493.42 13-Jun-1996 6320.57 3.42 19.62 26.17 10.33 27.29 2.28 1.04 0.10 67.84 24.30 2.40 5.45
TAX Fund 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
L&T Emerging Businesses Fund - Reg - G 24.25 12-May-2014 955.83 12.13 35.77 47.19 25.67 32.43 2.17 0.79 0.37 N.A 55.68 27.16 17.15
DSP BlackRock Natural Resou. & New Energy F - Reg - G 30.56 25-Apr-2008 219.03 -0.26 14.35 45.10 19.83 12.91 2.46 0.91 0.37 84.59 6.89 0.84 7.69
L&T Midcap Fund - Reg - Growth 131.73 09-Aug-2004 901.44 9.91 29.77 39.63 25.22 22.09 1.99 0.73 0.25 18.30 51.09 12.04 18.57
Reliance Small Cap Fund - Growth 38.67 16-Sep-2010 3753.78 7.99 28.41 39.53 25.29 21.98 2.44 0.88 0.31 4.49 40.98 48.13 6.40
Mirae Asset Emerging Bluechip Fund - G 46.34 09-Jul-2010 3821.28 7.82 27.22 36.63 27.12 24.50 2.02 0.86 0.27 31.51 60.76 5.15 2.59
IDFC Sterling Equity Fund - Reg - G 49.35 07-Mar-2008 1417.48 9.09 32.49 34.70 18.09 18.65 2.17 0.84 0.15 19.81 55.43 20.17 4.59
Canara Robeco Emerging Equities - G 85.88 11-Mar-2005 1858.30 7.36 28.93 33.12 24.15 19.06 2.29 0.88 0.22 25.73 62.06 10.49 1.71
EQUITY (Diversified) Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns
Annualised
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch QAAUM Since Std. SharpeMaturity (Years) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
UTI Dynamic Bond Fund - Reg - Growth 19.71 23-Jun-2010 1529.43 -9.40 -12.28 12.95 6.57 14.00 11.04 10.12 27.37 0.15 10.67 7.83
ICICI Prudential LTP - Growth 21.16 20-Jan-2010 2206.23 -8.63 -12.01 17.56 7.15 13.89 12.29 10.57 31.88 0.16 12.38 7.51
Canara Robeco Dynamic Bond F - Reg - G 19.42 29-May-2009 260.55 -6.38 -11.08 9.94 5.60 13.38 10.86 8.53 28.09 0.13 N.A 6.93
UTI Bond Fund - Growth 51.31 04-May-1998 1843.24 -7.74 -12.43 14.04 6.03 13.29 10.69 8.90 27.76 0.12 10.41 7.82
DHFL Pramerica Dynamic Bond Fund - G 1622.23 12-Jan-2012 181.39 -10.76 -10.12 15.65 6.88 13.01 11.27 9.22 28.53 0.12 9.90 7.62
ICICI Prudential Income Fund -Growth 54.22 09-Jul-1998 1872.85 -15.52 -15.72 18.15 6.27 12.95 11.31 9.30 33.62 0.13 15.17 7.76
ICICI Prud. Dynamic Bond F - Prem Plus - G 20.19 14-Jan-2010 1322.69 -0.23 -4.10 15.65 8.04 12.91 12.22 9.85 23.57 0.21 7.19 7.69
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 3478.94 31-Jan-2002 8139.39 12.19 8.75 11.99 9.62 10.91 9.52 8.41 13.12 0.11 2.22 10.41
L&T Short Term Income Fund - Reg - G 17.83 04-Dec-2010 724.36 10.58 7.52 10.73 9.29 10.24 9.55 9.17 6.79 0.34 N.A 8.55
Baroda Pioneer Short Term Bond Fund - G 17.62 30-Jun-2010 478.58 7.35 5.00 7.90 8.30 9.47 9.14 8.40 4.95 0.33 0.86 7.81
DHFL Pramerica Short Maturity Fund - G 30.52 21-Jan-2003 1564.38 5.39 4.45 10.77 7.64 9.54 9.24 8.02 8.45 0.22 2.88 8.34
Birla Sun Life Medium Term Plan - Reg - G 21.07 25-Mar-2009 10362.50 10.44 5.24 12.14 7.63 10.04 10.16 9.41 13.61 0.20 3.46 9.14
HDFC Regular Savings Fund - Growth 33.11 28-Feb-2002 4737.67 7.00 5.01 8.27 7.29 9.26 9.69 8.10 6.88 0.29 1.76 8.42
DSP BlackRock Income Opportunities F - Reg - G 27.47 13-May-2003 6751.00 9.26 1.35 8.61 6.86 9.50 9.70 7.40 9.84 0.23 3.05 8.90
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 480.65 01-Feb-1994 23343.90 3.42 15.02 22.66 11.42 19.29 1.91 0.11 50.03 15.15 6.26 28.56
HDFC Balanced Fund - Growth 139.71 11-Sep-2000 11349.40 5.91 15.96 21.75 14.84 16.97 1.48 0.11 43.87 23.50 1.38 31.24
ICICI Prudential Balanced - Growth 118.88 03-Nov-1999 11734.40 3.71 12.02 20.65 14.45 15.03 1.49 0.11 50.93 14.42 0.89 33.76
L&T India Prudence Fund - Reg - G 24.88 07-Feb-2011 4428.18 5.89 18.10 20.63 15.85 15.27 1.40 0.10 39.91 24.67 3.10 32.32
Reliance RSF - Balanced - Growth 50.96 08-Jun-2005 5955.74 6.22 17.45 20.29 14.00 14.43 1.55 0.10 56.79 9.13 1.40 32.68
Mirae Asset Prudence Fund - Reg - G 12.62 29-Jul-2015 526.09 4.21 15.33 20.12 N.A 12.73 1.52 0.09 64.69 8.60 0.68 26.03
DSP BlackRock Balanced Fund - Growth 138.15 27-May-1999 4255.99 4.38 14.44 20.10 15.69 15.59 1.61 0.09 48.36 22.69 3.23 25.72
BALANCED
18
Mr. Ajay Garg (Director, SMC Global Securities Ltd.) felicitating the winners during Sub-broker meet held at Pune on 1st july 2017.
Mr. Ajay Garg (Director, SMC Global Securities Ltd.) inaugurating SMC’s new branch at Panipat on 3rd July 2017.
Broking - Equity, Commodity & Currency | Wealth Management | Insurance Broking |
Real Estate Advisory | Mortgage Advisory | Distribution of IPOs, Mutual Funds, FDs & Bonds |
Investment Banking | NBFC Financing | AIF-II | PMS | Institutional Broking |Clearing Services |
NRI & FPI Services | Research
Call Toll-Free
1800 11 0909
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.), NCDEX/MCX (8200)/NMCE/ICEX-INZ000035839 (SMC Comtrade Ltd.), PMS INP000003435 (SMC Investments and Advisors Ltd.) IRDAI Regi: No: DB 272/04 License No. 289, Valid upto 27/01/2020 (SMC Insurance Brokers Pvt. Ltd.), Merchant Banker INM000011427 (SMC Capitals Ltd.)
SMC Global Securities Ltd., CIN No.: L74899DL1994PLC063609 | SMC Comtrade Ltd., CIN : U67120DL1997PLC188881 | REGISTERED OFFICE: 11/6-B, Shanti
Chamber, Pusa Road, New Delhi - 110005, Tel +91-11-30111000 | Email us at: [email protected]
DELHI | MUMBAI | KOLKATA | AHMEDABAD | CHENNAI | BENGALURU | DUBAI | NEW YORK | ATLANTA | ORLANDO
Follow us on
employees
2,850+Workforce of
2,500+Large network of
sub-brokers & authorised persons
cities across India,
UAE & USA
500+ Covers
unique clients
18,00,000+Serving over
as on 31st March, 2017
Awarded by:
PROPERTY CONSULTANT OF THE YEAR - RESIDENTIAL
BEST EQUITY BROKINGHOUSE-DERIVATIVE
SEGMENT
INDIA'S BESTMARKET ANALYST
(COMMODITY FUNDAMENTAL)
Awarded by:
AWARDEDTHE BESTTIME ANDAGAIN.
www.smcindiaonline.com
triverse
