A Weekly Update from SMC 2013: Issue 372, Week:...
20
HAPPY BUDDHA PURNIMA 2013: Issue 372, Week: 27th - 30th May A Weekly Update from SMC (For private circulation only) WISE M NEY Brand smc 194 ®
Transcript of A Weekly Update from SMC 2013: Issue 372, Week:...
HAPPY BUDDHA PURNIMA
2013: Issue 372, Week: 27th - 30th MayA Weekly Update from SMC(For private circulation only)
WISE M NEY
Bra
nd
sm
c 1
94
®
(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 Tejas Seth
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
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, 4th & 5th Floor,
Kolkata-700001
Tel : 91-33-39847000/39801300, 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:
2nd Floor, Mookambika Complex, 4, Lady Desikachari Road,
Mylapore, Chennai-600004
Tel: 91- 44 - 39109100 Fax: 91- 44 - 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: KOZMIC STYLE OFFSET
D-137, Okhla Industrial Area, Phase-I, New Delhi - 110020 (India)
Ph.: +91-11- 46251190, Email: [email protected]
lobal equity markets saw a steep fall ever seen in the recent weeks that got
capitulated from the Japanese equity markets and engulfed all the global Gmarkets. Weak manufacturing data from Chinese economy, surging
Japanese gilt yields along with different interpretations of the Fed minutes released
on 22nd May and statements made by the head of Bank of Japan were the main causes
of the fall in equities. Chinese manufacturing activity showed its first contraction in
the last seven months thereby indicating that the activity is further weakening. On
the contrary, Germany business confidence rose for the first time after February,
adding sign that growth in the Europe's largest economy is gathering pace. The
German economy grew just by 0.1 percent in the first quarter after a 0.7 percent
contraction in the final three months of 2012. Moreover economic data from the US is
generally moving in the right direction, and the key markers of economic health in the
U.S. are still showing signs of life. So, one can assume that the world's biggest
economy is on the recovery path but at a slower pace.
Back at home, Foreign Institutional Investors (FIIs) extended their record net
purchases of Indian stocks despite sharp share falls sparked by worries that the US
Federal Reserve would unwind its monetary stimulus earlier than expected. FIIs have
bought a net total of over $14 billion so far in 2013, sparking a rally since mid April. The
mood of the domestic markets looks jovial as inflation is trending downwards and
there are expectations of timely monsoon. Shrinking inflation and sluggish growth
indicators have raised hopes that the RBI may go for further monetary easing in its
June 17th Policy meet. Moreover, in order to attract more foreign flow, RBI plans to
allow exporters and importers to rebook and cancel up to 50 per cent of their total
hedged exposure from the present cap of 25 per cent, this may boost the confidence
of the investors.
On the commodities front, bullion counter is expected to move higher as lower level
buying and renewed physical demand may keep the prices well supported. In the
recent testimony, the Fed offered no signs but reiterated that it may either increase
or reduce the pace of its bond buying depending on the economic conditions. Crude oil
prices will try to get cues from the global demand and tensions in the Middle East
along with the outcome of the key economic indicators from the US and the Euro Zone.
Meanwhile, the U.S. oil demand rose slightly in April with the consumption still at its
second lowest level for the month in 17 years. This week the investors will have a close
eye on the various economic data such the US consumer confidence and the US GDP
figures along with the Euro-German unemployment rate and CPI, which will impact
the movement of metals and energy. In the agro pack, Jeera prices are likely to move
up in the coming days on hopes of overseas demand and lower arrivals.
From The Desk Of Editor
4
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) S1 & S2 indicate first support & second support respectively & R1 & R2 indicate first resistance and second resistance respectively.
3) 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 S1 R1 S2 R2 Cl.
Price Trend Trend S/l
Changed Changed
SENSEX 19674 UP 02.05.13 19736 19500 19100 18800
S&P NIFTY 5967 UP 02.05.13 5999 6000 5900 5770
CNX IT 6378 DOWN 17.04.13 6236 6550 6700 6850
CNX BANK 12636 UP 25.04.13 12727 12600 12200 11900
ACC 1206 DOWN 17.01.13 1359 1230 1260 1300
BHARTIAIRTEL 300 UP 09.05.13 325 310 300 290
BHEL 196 DOWN 01.11.12 227 195 205 210
CIPLA 415 UP 11.04.13 406 400 390 385
DLF 211 DOWN 21.03.13 239 255 260 265
HINDALCO 109 UP 16.05.13 111 105 101 98
ICICI BANK 1172 UP 25.04.13 1177 1140 1110 1090
INFOSYS 2360 DOWN 17.04.13 2284 2450 2550 2650
ITC 332 UP 04.03.11 172 315 305 300
L&T 1418 DOWN 23.05.13 1418 1480 1500 1520
MARUTI 1647 UP 17.04.13 1494 1640 1600 1560
NTPC 148 UP 02.05.13 160 152 148 145
ONGC 328 UP 17.04.13 329 320 315 310
RELIANCE 784 DOWN 28.02.13 814 840 860 870
TATASTEEL 300 DOWN 07.02.13 390 340 350 360
NEWS
MEETING DATE SYMBOL PURPOSE
27-May-13 WOCKPHARMA Results/Dividend
27-May-13 COALINDIA Results
28-May-13 GITANJALI Results/Dividend
28-May-13 NHPC Results/Dividend
28-May-13 NEYVELILIG Results
28-May-13 POWERGRID Results/Dividend
28-May-13 SUNPHARMA Results/Dividend
28-May-13 HINDALCO Results/Dividend
28-May-13 GAIL Results/Dividend
28-May-13 ABAN Results/Dividend
28-May-13 DLF Results/Dividend
28-May-13 CESC Results
28-May-13 CENTEXT Results
29-May-13 SJVN Results/Dividend
29-May-13 ONGC Results/Dividend
29-May-13 NMDC Results/Dividend
29-May-13 RENUKA Results
29-May-13 BPCL Results/Dividend
29-May-13 CIPLA Results/Dividend
29-May-13 CANBK Results
30-May-13 UNITECH Results/Dividend
30-May-13 PFC Results/Dividend
30-May-13 SAIL Results/Dividend
30-May-13 SUZLON Results
30-May-13 M&M Results/Dividend
30-May-13 IOC Results/Dividend
30-May-13 FORTIS Results
FORTHCOMING EVENTS
DOMESTIC NEWS
Metal
•Adhunik Metaliks has commenced commercial operation of its 270 MW
second unit of coal-based thermal power plant in Jharkhand.
•Tata Steel has set up a new subsidiary, Tata Steel Odisha, to spearhead its
new Greenfield (6) six million tonnes steel plant in Odisha's Kainganagar.
The project will be implemented in two phases of 3 million tonnes each.
Some `22,800 crore worth of project financing was tied up with a
consortium of 21 banks and financial institutions.
•JSW Steel Ltd is looking at acquiring coal mines in Africa, US and
Canada. The company is looking at acquiring iron ore and coal mines
in both India and abroad as it looks to increase self-sufficiency in
feeding its steel plants.
Oil & Gas
•Hindustan Petroleum Corp Ltd (HPCL) aims to restart a 60,000 barrels-per-day
fire-hit crude unit at its Visakhapatnam (Vizag) REFINERY by the end of June.
Textile
•Siyaram Silk Mills Ltd has signed as many as 27 Franchise agreements during
the first two months of the current fiscal, in its bid to expand its retail
footprint. Siyaram Silk Mills had set a target of signing 90 franchise deals
during 2013-14. It is also targeting 500 outlets by 2016-17, against the
existing 120.
Power
•NHPC's 132 MW hydel plant at Teesta in Sikkim would now supply
electricity to the National Grid. Country's largest hydro power producer
informed the stock exchange that 132 MW plant can now sell electricity
generated from the station.
Telecom
•Reliance Jio has announced an investment of `3,000 crore in West Bengal
towards the roll out of fourth generation (4G) broadband services in the state.
INTERNATIONAL NEWS
•Existing home sales in the U.S. saw a modest increase in the month of April.
Existing home sales climbed 0.6 percent to a seasonally adjusted annual
rate of 4.97 million in April from an upwardly revised 4.94 million in March.
•US new home sales climbed 2.3 percent to a seasonally adjusted annual
rate of 454,000 in April from the revised March rate of 444,000.
Economists had expected new home sales to rise to an annual rate of
425,000 compared to the 417,000 originally reported for the previous
month, reflecting a 1.9 percent increase.
•US initial jobless claims fell to 340,000, a decrease of 23,000 from the
previous week's revised figure of 363,000. Economists had expected
jobless claims to drop to about 345,000 from the 360,000 originally
reported for the previous week.
•The U.K. economy avoided recession in the first quarter as initially
estimated. Gross domestic product grew 0.3 percent sequentially in the
first quarter, offsetting the last quarter's 0.3 percent fall.
•China's manufacturing sector contracted for the first time in seven
months in May amid poor demand, fueling concerns that the weakness in
the economy may persist for some more time. The headline purchasing
managers' index, an indicator of the health of the factory sector, fell to a
seven-month low of 49.6 in May from 50.4 in April.
•According to the flash results of a survey by Markit Economics, Eurozone's
private sector activity continued to decline in May, but at a slower pace
than in the previous month. The composite output index, that measures
performance of the both manufacturing and service sectors, rose to 47.7 in
May from 46.9 in April. Economists expected the reading to rise to 47.2.
®
5
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 Nifty JuniorSensex BSE Smallcap S&P CNX 500
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
®
958.301034.50
2582.30
1629.90
-257.20-310.00
-209.10-500.00
0.00
500.00
1000.00
1500.00
2000.00
2500.00
3000.00
Friday Monday Tuesday Wednesday
FII Activity MF Activity
-3.29
-2.83
-3.46 -3.50-3.26 -3.35
-4.00
-3.50
-3.00
-2.50
-2.00
-1.50
-1.00
-0.50
0.00
Nifty Sensex BSE Midcap BSE
Smallcap
Nifty
Junior
S&P CNX
500
-2.87
-4.47
-6.79
-3.95
-0.65
-3.88
1.22
-3.43
-5.44
-3.22
-10.40
-12.00
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index
Healthcare Index
IT Index Metal Index
Oil & Gas Index
Power Index
Realty Index
-0.17
0.40
0.00
-3.68
-1.71 -1.79
1.06
0.13
-0.30
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
Nasdaq Comp.
Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
4.273.55
1.76
0.340.00
-12.59
-10.24
-6.98 -6.86-6.18
-14.00
-12.00
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
Sun Pharma.Inds.
Coal India TCS Infosys Larsen & Toubro
St Bk of India NTPC Jindal Steel Tata Power Co.
4.123.56
2.35
1.280.34
-18.23
-16.37-15.46
-14.07
-12.64
-20.00
-15.00
-10.00
-5.00
0.00
5.00
10.00
Sun Pharma.Inds.
Coal India HCL Technologies
TCS Infosys JP Associates Ranbaxy Labs.
DLF Reliance Infra.
Larsen & Toubro
Above calls are recommended with a time horizon of 1 year.
Beat the street - Fundamental Analysis
6®
Face Value (`) 10.00
52 Week High/Low 494.85/362.05
M.Cap (` Cr.) 6193.62
EPS (`) 93.82
P/E Ratio (times) 4.32
Stock Exchange BSE
VALUE PARAMETERS
% OF SHARE HOLDING
CORPORATION BANK CMP: 405.05 Upside: 21%Target Price: 488
Investment Rationale quarter ago and 65.3% a year ago.
•Business growth of the bank rebounded sharply to •Return of Assets (ROA) was at 0.88%, and Return of
20% at ̀ 284722 crore at end March 2013 from 12% Equity (ROE) was at 16.27% for the year ended
at end December 2012 and accelerated from 16% March 2013.
at end March 2012. The business growth was •During the current financial year, the Bank driven by 18.16% YoY growth in advances to opened 207 Branches across the country, while it `118717 crore, while the deposits increased added 54 new branches during Q4 FY2013. The 21.94% to ̀ 166005 crore at end March 2013. bank has a network of 1707 branches and 1425
ATMs at end March 2013. The bank also has 2 •Current Account Savings Account (CASA) ratio of the representative offices in Dubai & Hong Kong. The bank improved to 21.7% at end March 2013 bank proposes to open 300 new branches, while it compared to 20.5% a quarter ago and 18.9% a year is also planning to roll out 2000 ATMs in Fy2014. ago.
Valuation•Net Interest Margin (NIM) of the bank stood at
2.31% in the quarter ended March 2013 The bank has managed to grow at a decent pace in the
past few years and maintained a high quality asset •Gross Non-Performing Assets (NPA) stood at 1.72% profile. On the estimated book value of ̀ 696.13 for FY14E and Net NPA at 1.19% at the end of FY2012-13. In
absolute terms the Gross NPAs stood at `2048.23 and one year average P/BV of 0.70x, we expect the stock
to see a price target of 488 in one year time frame. crore and Net NPA stood at ̀ 1410.88 crore.
•The bank restructured its advances worth `1254.5
crore in Q4FY2013. The net outstanding standard
restructured advances eased to `7218.6 crore at
end March 2013 from ̀ 7529 crore at end December
2012, as a result of upgradation of restructured
advances in line with the RBI guidelines.
•Capital Adequacy ratio was at 12.33% with the Tier
I capital of 8.33% at end March 2013 compared to
12.57% with Tier I of 8.08% at end December 2012.
•The provision coverage ratio stood at 62.06% at
end March 2013 as compared to 58.02% at a
` in cr
Particular Mar 2013 Mar 2014E Mar 2015E
Net Total Income 5033.79 5839.95 6753.35
Pre-Tax Profit 1685.60 2119.30 2529.76
Net Profit 1434.68 1560.11 1802.45
EPS 96.74 103.35 119.95
BVPS 488.72 696.13 788.06
ROE 16.08 15.48 15.97
P/BV Chart
Face Value (`) 10.00
52 Week High/Low 386.00 / 291.20
M.Cap ` Cr.) 194638.64
EPS (`) 25.20
P/E Ratio (times) 12.23
P/B Ratio (times) 4.81
Stock Exchange BSE
` in cr
Particular Mar 2012 Mar 2013E Mar 2014E
Revenue 62,415.43 68,335.03 73,771.75
EBITDA 15,667.81 18,602.41 20,401.06
EBIT 13,698.59 18,113.53 20,246.24
Pre-Tax Profit 21,254.88 24,389.39 26,617.34
Net Profit 14,788.20 16,612.23 17,745.28
EPS 23.47 26.45 28.46
BVPS 64.04 79.41 95.46
ROE 39.90 35.84 31.96
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale would be spent on a combination of projects,
including development of five to six projects. The •Coal India Limited (CIL)'s output is set to rise to a money would also be spent on augmenting five-year high. It has set target to produce 492 infrastructure and mines expansion.million tonnes (MT) of coal during the current
fiscal against the production of 452 mt in 2012-13. •The company accounts for 80 percent of the total
Besides, the company would also increase the coal production in India. It operates 81 mining
overall offtake to consumers by 7.5 per cent to areas and 467 mines across 21 coalfields.
500 mt, against 465 mt in 2012-13. Valuation
•The company began FY14 on a positive note, The company is sitting on a huge cash reserve of fulfilled its targets in both the facets coal off-take about `61000 crore. It has lined up `50,000 crore and production. As a whole it produced 35.75 investment plans for the next five years, including a million tonnes during April 2013 against 33.81 mt capital expenditure of `24,500 crore. Since 2007 the during the same month previous year registering a company has been raising coal price every two years growth of 5.7%. Coal off-take at 39.89 mt during and last was in July 2011, any increase in coal price the month was up by 2.13 mt compared to 37.76 going forward would benefit the company. We expect mt in the same month last year. the stock to see a price target of `400 in one year
•The company's 18 mining projects received a go- time frame on a one year average P/E of 14.06x on
ahead from the government. Out of these, 14 FY14 (E) EPS of ̀ 28.46.
have received environmental clearances while 4
got forestry clearances. The total investment in
these projects would be ̀ 1347 crore.
•Coal India has received 32 proposals from
Indonesia, Australia, the US, Mozambique, Chile
and Columbia in response to its expression of
interest for acquiring overseas coal assets. The
company is looking at a majority stake or outright
purchase of these assets.
•The company has huge cash and plans to invest
about `5,000 crore during the 2013-14. The sum
P/E Chart
COAL INDIA LIMITED CMP: 308.15 Upside: 30%Target Price: 400
Source: Company Website Reuters Capitaline
Charts by Spider Software India Ltd
7
The stock closed at ̀ 54.85 on 23rd May 2013. It made a 52-week low at ̀ 36.80 on
30th August 2012 and a 52-week high at ̀ 69.75 on 20th December 2012. The 200
days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 79.32.
After touching a level of 67, it fell drastically and took support near to its
previous monthly lows of around 37 levels. It reversed sharply with volumes and
formed double bottom, which is a reversal pattern. One can Buy in the range of
52-54 levels with closing below stop loss of 49 levels for the target of 60-65
levels.
EQUITY
Above calls are recommended with a time horizon of 1-2 months
The stock closed at ̀ 313.20 on 23rd May 2013. It made a 52-week low at ̀ 252.50
on 28th March 2013 and a 52-week high of ̀ 346.50 on 23th August 2012. The 200
days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 308.34.
It has formed inverted head and shoulder but could not breach its neckline
earlier and fell down marginally. Again it managed to overcome its resistance
zone, which is near to 320 levels, which show buying interest is developing once
again. There is a possibility of sharp breakout in the near term. One can Buy in
the range of 308-311 levels with closing below stop loss of 294 levels for the
target of 340-345 levels.
The stock closed at ̀ 136.90 on 23rd May 2013. It made a 52-week low at ̀ 113.95
on 04th June 2012 and a 52-week high at ̀ 166.40 on 19th August 2012. The 200
days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 123.01.
As we can see on charts every time there is a fall, it again gave a sharp pullback
to sustain above its 200 EMA, which is a strong support for this particular scrip.
Last week there were negative sentiments in the market but it managed to
sustain at current levels, which determines its strength. One can Buy 132-134
levels with closing below stop loss of 125 levels for the target of 145-150 levels.
Adani Power Limited
Exide Industries Limited
CESC Limited
®
DERIVATIVES
BASIS GAP IN NIFTY
TATASTEEL (MAY FUTURE)
Buy: Above `320
Target: `329
Stop loss: `316
VOLTAS (MAY FUTURE)
Buy: Above `86.50
Target: `90.50
Stop loss: `84.50
PNB
Buy MAY 800 CALL 20.00
Buy MAY 780 PUT 10.00
Lot size: 500
Upside BEP: 830.00
Downside BEP: 750.00
Max. Profit: Unlimited
Max. Loss: `15000.00 (30.00*500)
OPTIONSTRATEGY
FUTURESTRATEGY
JSWSTEEL
Buy MAY 720. CALL 11.00
Sell MAY 740. CALL 4.00
Lot size: 500
BEP: 727.00
Max. Profit: `6500.00 (13.00*500)
Max. Loss: `3500.00 (7.00*500)
ITC (MAY FUTURE)
Sell: Below `328
Target: `320
Stop loss: `332
Markets remained choppy and volatile, throughout the week. Hereafter the range of 5900-6100 will remain crucial in the near term, and the move is
expected to remain sideways as indicated by option open interest concentration. If Nifty slips below the 5900 mark, it could slide to 5800 levels due to
increased selling pressure. On the contrary, the index may face stiff resistance at 6050-6100 levels. The put-call ratio of open interest closed lower at 1.16
levels. The options open interest concentration continued to be at the 6100-strike call with the highest open interest of above 80 lakh shares. Among the
put options, the 5900-strike taking the total open interest to 84 lakh shares, with the highest open interest among put options. The Implied Volatility (IV) of
call options closed at 18.05%, while the average IV of put options closed at 17.80%. Nifty Historical Volatility (HV) rose to 21.50% from 19.10%. Nifty VIX rose
to 18.79% from 17.00%. Nifty is expected to bounce back at 6100 levels, and May expiry is expected to expire in the band of 5900-6100.
WEEKLY VIEW OF THE MARKET
NIFTY TOTAL OPEN INTEREST (in share)
FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS
(Derivative segment) `(Cr)
FIIs ACTIVITY IN F&O IN LAST WEEK
(Derivative segment)
HCLTECH
Buy MAY 760 CALL 4.90
Buy MAY 720 PUT 2.90
Lot size: 500
Upside BEP: 767.80
Downside BEP: 712.20
Max. Profit: Unlimited
Max. Loss: `3900.00 (7.80*500)
VOLATILITY STRATEGYBULLISH STRATEGY
DERIVATIVE STRATEGIES
®
401700753650
932550 10562501316350
2985200
5863150
6954500
6144900
4972700
4147850
2582500
38570003663900
7061250 67654507265400
5386000
3113450
1809200
476950107850
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
5400 5500 5600 5700 5800 5900 6000 6100 6200 6300 6400
Call Put
-2
0
2
4
6
8
10
12
14
16
10-May 11-May 13-May 14-May 15-May 16-May 17-May 20-May 21-May 22-May 23-May
BUY86.8%
SELL13.2%
34.40
-237.86
423.40
189.73
-641.81
-357.76
1068.40
530.38
16.04
747.51
-800.00
-600.00
-400.00
-200.00
0.00
200.00
400.00
600.00
800.00
1000.00
1200.00
11-May 13-May 14-May 15-May 16-May 17-May 20-May 21-May 22-May 23-May
8
9
BHARTIARTL 9273000 9325000 0.56 1.64 0.97 -0.67 34.69 33.72 -0.97
DLF 21210000 21805000 2.81 0.38 0.41 0.03 38.79 56.43 17.64
HINDALCO 26206000 24520000 -6.43 0.85 0.83 -0.02 34.18 36.81 2.63
HINDUNILVR 7732500 7238500 -6.39 1.33 1.33 0.00 6.66 8.76 2.10
ICICIBANK 8084000 7214250 -10.76 1.20 0.93 -0.27 27.38 27.23 -0.15
IDEA 7690000 6712000 -12.72 0.88 0.91 0.03 33.89 34.67 0.78
INFY 3232875 3270500 1.16 0.56 0.65 0.09 21.02 20.98 -0.04
ITC 25355000 25269000 -0.34 0.71 0.78 0.07 26.65 22.83 -3.82
JPASSOCIAT 55460000 59392000 7.09 0.78 0.37 -0.41 48.82 50.93 2.11
NTPC 13352000 12634000 -5.38 0.43 0.28 -0.15 23.36 22.95 -0.41
ONGC 9912000 9480000 -4.36 0.74 0.78 0.04 28.97 30.68 1.71
RANBAXY 3240500 3318000 2.39 1.64 0.55 -1.09 31.95 40.20 8.25
RCOM 37772000 38188000 1.10 1.26 1.00 -0.26 64.71 71.98 7.27
RELIANCE 12035750 11063750 -8.08 0.58 0.39 -0.19 24.04 25.25 1.21
NIFTY 25643650 24934350 -2.77 1.44 1.16 -0.28 15.52 18.05 2.53
SAIL 16512000 16900000 2.35 0.33 0.31 -0.02 34.85 43.72 8.87
SBIN 4806375 5029875 4.65 0.83 0.58 -0.25 31.96 35.30 3.34
TATASTEEL 17999000 20156000 11.98 0.55 0.45 -0.10 32.20 42.57 10.37
UNITECH 64380000 55910000 -13.16 0.38 0.29 -0.09 63.36 74.50 11.14
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 has decreased
to 1.16 from1.44. At the end of the week, the maximum stocks had a negative of
change in put call open interest ratio.
Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week
has increased to 18.05% from 15.52%.The IV of the stock futures has changed this
week ranging from -3.82% to 17.62%.
Open Interest Analysis :The open interest for the index at the end of this week
has decreased by 2.77% as compared to the previous week. All future stocks saw
changes in their open interest ranging from -13.16% to 11.98%. TATASTEEL has the
maximum increase in open interest as compared to other stocks.
Statistical Analysis·
Open 6185.10 High 6239.00
Low 5952.60 Close 5970.00
NIFTY & IV CHART NIFTY ANALYSIS
®
14
15
16
17
18
19
5800
5900
6000
6100
6200
6300
17-May 20-May 21-May 22-May 23-May
Nifty Close IV
10®
Jeera futures (June) is expected to consolidate in the range of 12900-13500 levels. The factors such lower supply in the domestic market and the international market with tensions in major producing countries, are expected to lend support to the counter in order to maintain its upside bias. Moreover, the demand for cumin is at its peak during the festive month of Ramadan, due to which the export orders may get strong. Turmeric futures (June) will possibly trade in the range of 5800-6300 levels, with the downside being limited. The sentiments prevailing at the spot market depict that stockists are waiting for the upcountry export orders. Meanwhile, the traders are getting limited orders from the local masala firms. As regards supply, the yellow spice is arriving to Erode from Nizamabad, as the price of turmeric is Rs 1,000 a quintal lower than the Erode market price. Cardamom futures (June) is likely to remain in the bearish zone as good weather condition is prevailing in the growing regions, which is beneficial for plantations. Adding to it, higher stocks position and expectations of new crop arrivals from July first week may further bring down the counter, breaching 720 levels. Chilli futures (June) is expected to hover in the range of 5400-5800 levels. The counter is lacking fresh cues of demand from the spot markets. Meanwhile, in Warangal region, there are about 7 – 8 lakh bags of stocks & around 2 lakh bags of stocks are being reported in the Delhi market.
SPICES
Soybean futures (June) might continue with its consolidation in the range of 3700-3970 levels. In the current scenario, the counter in the spot market is mostly trading sideways in the absence of any trigger. The soy meal prices are range-bound in view of lower overseas and domestic demand. India's soy meal prices will continue to face stiff price competition from the South American meal as the harvesting in the region is underway. On the contrary, the factor capping the downside will possibly be that, India is on a course to resume oilmeal exports to China, after Beijing agreed in principle to lift a ban that it imposed last year citing traces of a hazardous chemical. The bullish trend may prevail in the U.S soybean futures on signs that demand will increase in China even as the U.S. supplies shrink. Market participants would be taking cues from various data scheduled next week from the USDA such as crop progress report, weekly weather and crop bulletin & outlook for the U.S. Agricultural trade. Mustard futures (June) is expected to hover within the range of 3440-3560 levels. The supply scenario is restricted as the harvesting in Sri Ganganagar is complete and there is reserved farmer's selling at the current price. Moreover, there is good demand from crushers in Rajasthan. The buyers are mostly local millers and the processors of Alwar, Kota and Morena. CPO futures (June) will probably test the resistance at 480 levels. Malaysian palm oil futures are near to their highest in more than a month as buyers restock ahead of the festival in July.
OIL AND OILSEEDS
OTHER COMMODITIES
Sugar futures (June) is expected to remain below its previous week's high of 3104 levels. The supplies at the spot market are likely to get smoother as the agitation against the Local Body Tax in the Vashi wholesale sugar market has come to an end. Now, the inventories will be disposed off by stockists to local retailers along with the arrivals of new stocks from the mills. Wheat futures (June) is likely to face some resistance near 1640 levels. The counter has witnessed a multi-week rally supported by sustained prospects of higher exports, demand from flour millers & falling arrivals. On the spot market, farmers are showing an intention to store their produce on apprehension of a better price in the days to come. In Rajasthan, M.P and Gujarat the farmer's wheat sale to government is almost over as traders are buying wheat at Rs 1500-1600/qtl, while the supply is almost dry in Gujarat due to lower production this year and Tukri wheat is reaching Gujarat at Rs 1600-1800/qtl from Rajasthan and Lok-1 is reaching Gujarat from M.P at Rs 1750-1850/qtl. Cotton futures (June) on MCX is likely to witness a turnaround upside taking support above 18000 levels. The reports of farmers shifting to other high realization crops may lead to a 10-15% drop in the acreage. Furthermore, the selling pressure from ginner is restricted as the cotton loses weight in summer due to high temperature. Also, the demand for yarn may pick up in the coming days as the strike has ended in Maharashtra.
Base metals complex may trade in range on mixed fundamentals. China's plan to spend $6.5 trillion on urbanization to bolster the economy is running into snags. State owned China Development Bank recently pledged to lend 150 billion yuan ($24.47 billion) to southeastern Fujian province to support its urbanization and channel 30 billion yuan into urban projects in central Anhui province. Red metal copper can trade in range of 390-425. Global spot copper ore treatment and refining charges (TC/RCs) are rising because of a production stop at India's largest copper smelter. TC/RCs are fees paid by miners to smelters to refine concentrate into metal and are a key part of the global copper industry's earnings. Spot fees had been around $80 a tonne and 8 cents a pound in March and April. The spot market for copper concentrates continues to benefit from the production stop at the Indian Sterlite smelter, which frees up 3,000 tonnes of concentrates on the market each day. Nickel prices can trade in the range of 800-860 in MCX. Aluminum prices may move in range of 100-105 levels while Zinc prices can hover in range of 100-105 in MCX. According to the International Lead and Zinc Study Group (ILZSG), Global demand for lead is expected to rise 4.8 per cent this year to 11.09 million tonnes, while zinc demand is set to increase by 5.2 per cent to 12.98 million tonnes. While battery metal Lead can move in the range of 110-115 in MCX. Lead production is seen up 4.8 per cent to 11.13 million tonnes in 2013.
BASE METALS
Bullion counter may try to find support at current levels and may head further higher as renewed demand at lower levels may push the prices upside. Gold may trade in the range of $1380-1450 in COMEX and 25800-26800 in MCX. White metal, silver can also trade in the wide range of 42000-45000 in near term. On the domestic bourses, weak local currency has capped the downside to larger extent, which tested 56 levels. Bernanke reiterated that the Fed was prepared to either increase or reduce the pace of its bond buys depending on economic conditions, as the central bank stated on May 1 after its last policy meeting. The central bank is currently buying $85 billion in Treasury and mortgage bonds each month in an effort to keep borrowing costs low and encourage investment, hiring and economic growth. It is the third round of asset purchase, or quantitative easing, since the Fed drove interest rates to near zero in late 2008. Bernanke noted that the main inflation gauge the Fed monitors rose just 1 percent in the 12 months through March, just half the central bank's 2 percent target. Bernanke also stated that premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further. Buyers in China had been active earlier recently lured by lower prices, helping to push premiums to record highs in Hong Kong and Singapore. This week US GDP data will be closely watched for further direction in bullion counter.
BULLIONS
Crude oil prices may remain in range as global demand scenario, middle tension in Syria and inventory position will give further direction to the prices. The oil market is now eyeing the U.S. driving season, which starts this weekend for indications on demand. Meanwhile there is more than enough gasoline to meet seasonal demand. U.S. gasoline stockpiles last week were close to the highest level for this time of the year since 1999.Crude oil may trade in range of 5150-5400 in MCX and $90-97 in NYMEX. U.S. oil demand rose slightly in April, with consumption still at its second lowest level for the month in 17 years. Petroleum demand climbed 0.3 percent from a year earlier to 18.393 million barrels per day. Stocks at the Cushing, Oklahoma, and crude storage hub rose 449,000 barrels to 50.172 million barrels. U.S. daily gasoline production climbed by 285,000 barrels to 9.21 million last week, the most this year. According to data from the Energy Information Administration” Crude imports rose 506,000 barrels per day to 8.08 million bpd”. Natural gas may head further higher and its prices can test 250 in MCX. Recently inventory build in natural gas fell short of market expectations. It is expected injections to continue to slow in coming weeks as temperatures heat up and force more homeowners and businesses to turn on their air conditioners. Mostly below seasonal temperatures are expected for the eastern half of the country for the next five days, but private forecaster Commodity Weather Group said the six- to 10-day outlook had turned hotter again for the central and eastern United States.
ENERGY COMPLEX
Closing as on 23.05.13
11
NOTES : 1) Buy / Sell 25% of Commodity at S1/R1 respectively & rest 75% at S2/R2 respectively.2) S1 & S2 indicate first support & second support & R1 & R 2 indicate first resistance & second resistance. 3) 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.4) 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.
TECHNICAL RECOMMENDATIONS
EXCHANGE CONTRACT CLOSING DATE TREND
PRICE CHANGED CHANGED STOP/LOSS
SOYABEAN (JUNE) 3876.00 07.03.13 UP 3421.50 3700.00 - 3600.00 - 3500.00
JEERA (JUNE) 13302.00 11.04.13 UP 13795.00 12000.00 - 11500.00 - 11000.00
RED CHILLI (JUNE) 5658.00 17.04.13 DOWN 6362.00 - 6500.00 - 7000.00 7500.00
RM SEEDS (JUNE) 3515.00 11.04.13 UP 3586.00 3200.00 - 3100.00 - 3000.00
MENTHA OIL (JUNE) 956.70 21.03.13 DOWN 1141.30 - 1000.00 - 1050.00 1100.00
CARDAMOM (JUNE) 731.90 28.02.13 DOWN 965.00 - 850.00 - 890.00 930.00
SILVER (JULY) 43571.00 20.12.12 DOWN 57351.00 - 46000.00 - 49000.00 49500.00
GOLD (AUGUST ) 26644.00 14.02.13 DOWN 30463.00 - 27200.00 - 28000.00 28300.00
COPPER (JUNE) 408.45 09.05.13 SIDEWAYS - - - - - -
LEAD (JUNE) 114.10 21.03.13 DOWN 118.45 - 110.00 - 112.00 115.00
ZINC (JUNE) 103.10 21.03.13 DOWN 105.65 - 104.00 - 106.00 108.00
NICKEL(JUNE) 837.60 21.02.13 DOWN 920.30 - 870.00 - 900.00 920.00
ALUMINUM(JUNE) 101.80 21.02.13 DOWN 112.95 - 104.00 - 106.00 108.00
CRUDE OIL (JUNE) 5215.00 25.04.13 SIDEWAYS - - - - - -
NATURAL GAS (JUNE) 236.80 23.05.13 SIDEWAYS - - - - - -
TREND RATE TREND S1 R1 S2 R2 CLOSING
*
TREND SHEET
COMMODITY
NICKEL MCX (JUNE) contract closed at ̀ 837.60 on 23rd May '13. The contract made its high of ̀ 906.30
on 8th April '13 and a low of `795.00 on 2nd May '13. The 18-day Exponential Moving Average of the
commodity is currently at ̀ 835. On the daily chart, the commodity has Relative Strength Index (14-day) value of 45. One can Buy in the
range 820-810 with the stop loss of ̀ 785 for a target of ̀ 875.
CORIANDER NCDEX (JUNE) contract closed at ̀ 6873.00 on 23rd May '13. The contract made its high of
`7895.00 on 9th April '13 and a low of ̀ 6325.00 on 10th May '13.The 18-day Exponential Moving Average
of the Commodity is currently at ̀ 6789.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 50. One can Buy in the
range 6800-6700 with the stop loss of ̀ 6535 for target of ̀ 7200.
COTTON SEED OIL NCDEX (JULY) contract closed at `1541.00 on 23rd May '13.The contract made its
high of ̀ 1585.00 on 20th April '13 and a low of ̀ 1475.00 on 9th May '13.The 18-day Exponential Moving
Average of the Commodity is currently at ̀ 1530.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 52. One can Buy in the
range 1530-1520 with the stop loss of ̀ 1500 for a target of ̀ 1585.
®
NICKEL MCX (JUNE)
CORIANDER NCDEX (JUNE)
COTTON SEED OIL NCDEX (JULY)
COMMODITY
NEWS DIGEST
Bullion counter continue to witness some stability as the prices had taken support near $1340 in COMEX and Rs 25500 in MCX. Gold prices got support on the back of a confused statement given by the U.S. Federal Reserve chief Ben Bernanke that there was no rush to end the monetary easing programme, which increased the metal's appeal as a hedge against inflation. Gold has been hammered this year, losing nearly a fifth of its value, as investors favored stocks and other risk assets on the back of strong economic data. Crude oil remained on an extremely volatile note on mixed fundamentals. Recently ample supply and a slow global economic recovery fuelled worries that the demand for the oil would be hit. Crude inventories in the United States are near record levels as the world's top oil consumer produced more from shale, while shrinking factory activity in China capped fuel demand growth at the world's No.2 user. Natural gas prices continued their bullish momentum as the commodity breached the key level of 238 in MCX. Base metals also traded on an uneven note as on the one hand slow manufacturing data from China pressurized the prices lower while on the other hand good economic numbers from the US supported the prices higher. Chinese factory activity declined in May for the first time in seven months and the U.S. manufacturing grew at its slowest clip since October, suggesting that it may take a while before the global economy starts to pick up . China's factory data could also sharpened a dilemma for policymakers in Beijing, who must decide whether to provide some stimulus of their own to stabilize the activity or tolerate an orderly slowdown while focusing on reducing the country's dependence on exports and investment, changes economists say would bring long-term benefits.
In agro-commodities, maize futures continued its bull run supported by demand from local poultry feed makers and starch feed makers. Moreover, the apprehensions of lesser production this year because of yield loss due to unfavorable weather conditions pushed up the counter. Wheat prices on the domestic & futures market posted the second best gain backed by lower arrivals due to holding of crop by farmers as they anticipated rise in price and active buying from traders and millers. Mustard futures remained stable on lower inflow of arrivals & buying support from stockiest due to the ongoing marriage season. However, the upside was seen capped on slack buying support from the crushers due to prevailing negative crush margin. Soybean futures consolidated in a narrow range on poor domestic demand for beans & weak domestic off-take in meal from poultry feed industry. On the contrary, U.S soybeans headed for fourth weekly advance, the best rally since March 2012 on signs of rising demand. The downside in jeera futures remained capped due to supply crunch in the domestic market. Market participants are also in expectation that export orders could get diverted to India due to supply disruption in Syria. The yellow spice remain trapped in a narrow range due to lack of fresh cues of upcountry demand from exporters due to ongoing summer season.
WEEKLY COMMENTARY
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
COMMODITY UNIT 15.05.13 22.05.13 DIFFERENCE
QTY.
BARLEY MT 21392 24541 3149
CASTOR SEED MT 126423 132513 6090
CHANA MT 89490 108811 19321
CHILLI MT 15443 15698 255
COTTONSEED OILCAKE MT 133117 124455 -8662
MAIZE MT 686 1341 655
RAPE MUSTARD SEED MT 65330 72064 6734
SOYA BEAN SEEDS MT 13075 23453 10378
SUGAR M MT 6225 6833 608
WHEAT MT 3603 5859 2256
COMMODITY UNIT 16.05.13 23.05.13 DIFFERENCE
QTY. QTY.
CARDAMOM MT 60.90 61.90 1.00
COTTON BALES 161400.00 161400.00 0.00
GOLD KGS 324.00 319.00 -5.00
GOLD MINI KGS 39.90 37.30 -2.60
GOLD GUINEA KGS 271.99 271.89 -0.10
MENTHA OIL KGS 576617.85 482330.50 -94287.35
MILD STEEL MT 2343.86 2191.52 -152.34
SILVER (30 KG Bar) KGS 18420.15 18027.23 -392.93
•SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund holdings fell to four year lows of
1018.57 tonnes last week.
•US initial claims for state unemployment benefits dropped
23,000 to a seasonally adjusted 340,000 last week.
•China's net draw on refined copper from the
international market has slumped by 570,000 tonnes
this year relative to the same four months of 2012.
•Iran's government is negotiating a tax of up to 40
percent on iron ore exports to take advantage of a surge
in sales to China.
•Global crude steel production rose 1.2 percent to 132
million tonnes in April, compared with the same month
a year earlier.
•Yunnan Copper Industry Company has shut a 100,000-
tonne-a-year unit due to supply shortage of raw
material scrap.
•US Home resale's rose in April to the highest level in
nearly 3-1/2 years.
•Ace Derivatives and Commodity Exchange Ltd (ACE),
announced commencement of futures trading in guar
seed and guar gum.
•According to National Federation of Cooperative Sugar
Factories, sugar production will be 25 million tonnes
(MT). Taking into account imports, an opening stock in
the next year would be around 9.66 MT.
•Indonesia has set its export tax for crude palm oil at 9%
for June and unchanged from May.
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
12
®
5.87
2.55 2.472.17
1.77
-3.19
-2.10 -1.99 -1.88
-1.32
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
GASMENTHA OIL LEAD
(DEL)SILVER POTATO CRUDE OIL STEEL RPR GUAR SEED
OIL
4.13
2.42
2.04
1.651.44
-2.99-2.74 -2.62
-2.45
-2.05
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
RABI DELHIGOLD NEW SILVER NEW COTTON SD
O.C (AKL)TURMERIC CASTOR SEED
NEWCRUDE OIL POTATO CHANA
Rapemustard Seed
13
SPOT PRICES (% change)
COMMODITY
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
16.05.13 23.05.13
ALUMINIUM 5225975 5218175 -7800
COPPER 627525 627275 -250
NICKEL 179556 179598 42
LEAD 244525 236275 -8250
ZINC 1120900 1107200 -13700
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 17.05.13 23.05.13 CHANGE(%)
Soya CBOT JULY Cent per Bushel 1448.50 1499.50 3.52
Maize CBOT JULY Cent per Bushel 652.75 662.00 1.42
CPO BMD JUNE MYR per MT 2334.00 2340.00 0.26
Sugar LIFFE AUG 10 cents per MT 477.50 474.90 -0.54
COMMODITY EXCHANGE CONTRACT 17.05.13 23.05.13 CHANGE%
ALUMINIUM LME 3 MONTHS 1849.00 1850.00 0.05
COPPER LME 3 MONTHS 7305.00 7300.00 -0.07
LEAD LME 3 MONTHS 2014.00 2044.00 1.49
NICKEL LME 3 MONTHS 14825.00 14940.00 0.78
ZINC LME 3 MONTHS 1840.00 1856.00 0.87
GOLD COMEX JUNE 1364.70 1391.80 1.99
SILVER COMEX JULY 2235.20 2250.80 0.70
LIGHT CRUDE OIL NYMEX JULY 96.29 94.25 -2.12
NATURAL GAS NYMEX JUNE 4.06 4.26 5.08
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
Mustard/Rapeseed oil is the third largest edible oil produced in the world after Soy oil and Palm oil with accounts of about 12% of the total World's edible oil production. The average oil recovery from the seed is about 33%. The remaining is obtained as cake, which is rich in proteins and is used as an animal feed ingredient. Being an important source of edible oil and feed meal to the country, mustard is undoubtedly the focus of Indian edible oil industry. In EU, rapeseed oil is mainly used for biofuel production.
Global scenario
According to USDA, Global production of rapeseed in 2013/14 is projected to increase 4 percent to 63.4 million tonnes due to improved crops for the EU-27, Canada, Ukraine, Russia, and India. However, low global stocks of rapeseed are likely to persist as consumption may outpace the increase in total supplies. According to Oil World global rapeseed production in 2013/14 is forecast 64.0 mt which is down from the previous forecast of 64.1 mt but up from the 62.6 mt produced in the previous year.
According to USDA, EU-27 rapeseed production is projected rising to 20 million tons from 19.1 million last year. Ukraine rapeseed crop is expected to swell 43 percent in 2013/14 to 2 million tons from 1.3 million tons of last year. Almost all of Ukraine's additional rapeseed production would be used to expand exports to 1.9 million tons. The 2013/14 canola crop in Canada is expected to recover despite a lower sown area. Improved yields could boost canola production to 14.5 million tons from 13.3 million in 2012/13. China rapeseed production is projected at 13.5 million tonnes, up 0.9 million based on in-creased area and yield. While USDA projects a 9-percent decline in 2013/14 canola production for Australia to 2.8 million tons.
Global stockpiles of rapeseed and canola, a low-acid variety of the crop, may drop to 4.95 million tonnes by the end of the marketing year, the smallest in at least four seasons. Crushing from July to December rose to a record 30.8 million tonnes. World exports may tumble 21 percent from a year earlier to 5.3 million tonnes.
Indian scenario
•According to the SEA, India's rapeseed output for 2012-13 is expected to jump by 12.32 lakh tonnes to 71.12 lakh tonnes.
•In Rajasthan seed production may rise to almost 34.0 lakh tonnes, forecasts SEA.
•No rapeseed is exported from India, so all of the additional output is expected to be crushed domestically. Mustard oil is consumed wholly in the domestic market
•India has exported 786690 tonnes rapeseed oil meal in FY 2012-13 while exported 1248681 tonnes in FY 2011-12 .
• According to Dorab Mistry mustard oil production in India is likely to rise 27 per cent to 2.25 million tonnes this season as against 1.77 mt the previous year this year due to record high seed output in the current rabi season.
•However, higher mustard oil output is unlikely to reduce India's dependence on oil import. Of around 16.5 mt of India consumption of edible oil, imports are 57 per cent.
Outlook
The mustard seed futures are likely to trade in range due to higher production estimates, lower buying interest and import of edible oil. Strength in soya market may support the prices. Export Demand of oilcake may also support the prices.
®
-3.58
-2.08
-1.93
-1.75
-1.49
-1.22
0.00
0.00
0.00
0.15
0.29
0.30
0.40
0.43
0.50
0.76
1.98
2.52
3.02
5.11
6.91
-6.00 -4.00 -2.00 0.00 2.00 4.00 6.00 8.00
CARDAMOM (VANDANMEDU)
RAW JUTE (KOLKATA)
CHANA (DELHI)
SOYABEAN (INDORE)
PEPPER MALABAR GAR (KOCHI)
CORIANDER (KOTA)
CHILLI (GUNTUR)
MASOOR (INDORE)
MILD STEEL INGOTS (GHAZIABAD)
REFINED SOYA OIL (INDORE)
JEERA (UNJHA)
BARLEY (JAIPUR)
RUBBER (KOCHI)
MUSTARD (JAIPUR)
CRUDE PALM OIL (KANDLA)
GOLD KG (MUMBAI)
GUR (MUZAFFARNGR.)
TURMERIC (NIZAMABAD)
SILVER (DELHI)
WHEAT (DELHI)
MENTHA OIL (CHANDAUSI)
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 54.92 56.32 55.24 55.90
EUR/INR 70.66 72.38 70.95 71.98
GBP/INR 83.54 84.63 83.98 84.23
JPY/INR 53.56 55.65 53.90 53.45
(Source: Thomson Reuters, Open: Friday (Prior) 9.00 AM IST, Close: Thursday 5.00 PM IST)
News Flows of last week
22nd May: U.S Home resales rose in April to the highest level in nearly 3-1/2 years
22nd May: Bernanke said more progress needed before stimulus pullback
23rd May: U.S New home sales rose, prices surged to record highs
23rd May: Fed balance sheet expanded in latest week
23rd May: U.S Manufacturing slowed for a second straight month in May
23rd May: The number of Americans filing new claims for unemployment
benefits fell last week
23rd May: Britons expects inflation of 2.5 percent over the coming year.
EUR/INR (JUNE) contract closed at ̀ 71.98 on 23rd May. The contract made its high of `72.38 on 22nd May'13 and a low of `70.95 on 20th May'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 71.56.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 63.87. One can buy around 71.90 for a target of 73.20 with the stop loss of 71.40.
JPY/INR (JUNE) contract closed at `55.04 on 23rd May'13. The contract made its
high of `55.65 on 23rdMay'13 and a low of `53.90 on 20th May'13 (Weekly Basis).
The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 54.61.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 49.20.
One can Buy around 54.95 for a target of 55.95 with the stop loss of ̀ 53.45.
Market Stance
The rupee recovered from a more than 8-1/2 month low hit earlier on Thursday,
as exporters took advantage of a spike in the dollar to sell the greenback and on
fears the central bank would intervene to stabilize the local currency. The rupee
still posted a fifth day of falls to mark its longest losing streak in over three
months as worries about a potential pullback in the U.S. monetary stimulus
programme and a weak manufacturing survey in China sparked a shift sway from
riskier currencies. Any pullback on U.S. quantitative easing has the potential to
hit Indian markets hard. Foreign investors have bought more than $5 billion of
debt and stocks this month, marking a surge in inflows from previous months.
Finance Minister P. Chidambaram tried to assuage investor sentiment, stating
that U.S. Federal Reserve Chairman Ben Bernanke's statements have been
'misunderstood or misinterpreted." The rupee was caught in the eye of the storm
between Bernanke and Chinese PMI. However, the market recovered realising
the fears were overdone. Expectation of large flows starting next week and
exporter selling around 56 levels capped the losses.
Economic gauge for the next week
Date Currency Event PREVIOUS
26th May JPY JPY Bank of Japan April 26 meeting minutes
28th May USD USD Consumer Confidence 68.1
29th May EUR EUR German Unemployment Change 4K
29th May EUR EUR German Unemployment Rate s.a. 6.90%
29th May EUR EUR German Consumer Price Index (YoY) 1.20%
29th May EUR EUR German Consumer Price Index - EU Harmonised (YoY) 1.10%
30th May USD USD Gross Domestic Product (Annualized) 2.50%
30th May USD USD Personal Consumption 3.20%
30th May USD USD Gross Domestic Product Price Index 1.20%
30th May JPY JPY National Consumer Price Index (YoY) -0.90%
31st May EUR EUR Euro-Zone Consumer Price Index - Core (YoY) 1.00%
31st May EUR EUR Euro-Zone Consumer Price Index Estimate (YoY) 1.20%
14
®
EUR/INR
USD/INR (JUNE) contract closed at ̀ 55.90 on 23rd May'13. The contract made its high of ̀ 56.32 on 23rd May'13 and a low of ̀ 55.24 on 21st May'13 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 55.32.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 71.66. One can Buy around 55.25 for a target of 56.25 with the stop loss of 54.75.
GBP/INR (JUNE) contract closed at ̀ 84.23 on 23rd May'13. The contract made its
high of ̀ 84.63 on 23rd May'13 and a low of ̀ 83.98 on 20th May'13 (Weekly Basis).
The 14-day Exponential Moving Average of the GBP/INR is currently at ̀ 84.21.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 52.12.
One can Buy above 84.65 for a target of ̀ 85.70 with the stop loss of ̀ 84.10.
USD/INRTechnical Recommendation
GBP/INR JPY/INR
IPOIPO
INDIAN IPO NEWS
Investors lap up Just Dial, IPO subscribed nearly 12 times
Just Dial successfully completed its IPO on Wednesday with its ̀ 950-crore issue got subscribed nearly 12 times. VVS Mani, the promoter, who started the
company with `50,000 in 300 sq ft of space, and who owns 33% stake in the company is now worth `1,253 crore. The issue provided exit for private
equity (PE) funds such as Sequoia Capital and SAIF whose returns jumped 820%, in four years, a fact that could push other investors to consider similar
offers. Anchor investors such as Goldman Sachs India Fund, HSBC Bank (Mauritius), Birla Sunlife Trustee Company, DSP Blackrock Opportunities Fund
and Deutsche Securities Mauritius purchased shares at ̀ 540 a piece in a pre-IPO offer.
Vodafone reports flat sales growth in FY13; no IPO in 2013
Vodafone India, the country's second largest mobile operator adjusted operating profits rose by more than three-fold to GBP 221 million (about ̀ 1,853
crore) for the year ended March 31, 2013. The company, part of the UK-based Vodafone Group, had posted an adjusted operating profit of GBP 60
million (about `503 crore) in the year-ago period, it said in a release. Vodafone India revenues also rose by 1.17 percent to GBP 4.32 billion (about
`361.9 billion) from GBP 4.27 billion (about `357.7 billion) during the same period. Its free cash flow for year ended March 31, 2013 rose to GBP 729
million from GBP 531 million in the year-ago period.
Intas Pharma IPO plans to raise ̀ 1000-1200 Cr.
Intas Pharma has decided to revive its Initial Public Offer (IPO) plan. The company had earlier planned to go public in 2012 but poor market conditions
had forced it to shelve its plans. It is likely that Intas will file its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (Sebi)
in the next two weeks. It seeks to raise around `1000-1200 crore through this IPO and plans to utilise proceeds from this IPO for capex and debt
reduction, reports CNBC-TV18's Aastha Maheshwari. Intas Pharma is an Ahmedabad based drug manufacturing company. The company is also into
formulation, development and marketing. It gets around 40 percent of its sales from overseas and its gross revenues cross around `3000 crore.
Meanwhile bankers value this company to be more than ̀ 5000 crore.
Puravankara's IPP oversubscribed 1.5 times
Realty firm Puravankara Projects' offer to sell 2.37 crore shares to institutional investors was oversubscribed by 1.5 times, helping the company raise
around ̀ 201 crore. The Bangalore-based firm launched Institutional Placement Programme (IPP) to meet the SEBI's norm of minimum 25 per cent public
shareholding in the private sector listed companies by June. Promoters have 89.96 per cent stake in the company as on March 31. Through IPP, the
company offered 2,15,68,501 shares of face value of ̀ 5 each at a price band of ̀ 80-85 per share. It has an option to allot an additional up to 21,56,850
equity shares in case of over-subscription, taking the total offer size to 2,37,25,351 shares.
V-Mart Retail Trading 255.75 123.00 20-Feb-13 210.00 216.00 142.40 -32.19
Bharti Infra. Telecom 31995.93 4533.60 28-Dec-12 220.00 200.00 169.40 -23.00
PC Jeweller Jewellary 2053.38 609.30 27-Dec-12 135.00 135.50 114.65 -15.07
CARE Rating Agency 2009.35 540.00 26-Dec-12 750.00 949.00 703.80 -6.16
Tara Jewels Jewellary 373.62 179.50 6-Dec-12 230.00 242.00 152.00 -33.91
VKS Projects Engineering 161.91 55.00 18-Jul-12 55.00 55.80 2.57 -95.33
Speciality Restaruants Restaurants 821.80 181.96 30-May-12 150.00 153.00 175.00 16.67
T B Z Jewellary 1573.75 210.00 9-May-12 120.00 115.00 236.05 96.71
MT Educare Miscellaneous 387.46 99.00 12-Apr-12 80.00 86.05 97.40 21.75
NBCC Construction 1576.80 124.97 12-Apr-12 106.00 100.00 131.40 23.96
Olympic card. Media 93.05 24.75 28-Mar-12 30.00 29.95 57.05 90.17
Multi Comm. Exc. Exchange 4644.06 663.31 9-Mar-12 1032.00 1387.00 910.60 -11.76
Indo Thai Sec. Finance 13.95 29.60 2-Nov-11 74.00 75.00 13.95 -81.15
Vaswani Inds. Steel 9.01 49.00 24-Oct-11 49.00 33.45 3.30 -93.27
M and B Switch. Capital Goods 449.00 93.00 20-Oct-11 186.00 180.00 22.45 -87.93
Flexituff Intl. Packaging 515.90 104.63 19-Oct-11 155.00 155.00 224.5 44.84
Prakash Constro. Construction 21.62 60.00 4-Oct-11 138.00 145.00 1.72 -98.75
PG Electro. Cons. Durables 106.91 120.65 26-Sep-11 210.00 200.00 65.15 -68.98
IPO TRACKER
Company Sector M.Cap(In Cr.) Issue Size(in Cr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)
*
15
®
16
®
MUTUAL FUND
NEWS
HSBC MF introduces Fixed Term Series 93
HSBC Mutual Fund has launched the New Fund Offer (NFO) of HSBC Fixed Term Series 93, a close ended income scheme. The NFO opens for subscription on May 20,
2013 and closes on May 27, 2013. The investment objective of the scheme is to seek generation of returns by investing in a portfolio of fixed income instruments
which mature on or before the maturity date of the Plan.
Reliance MF introduces Dual Advantage Fixed Tenure Fund III - Plan C
Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Dual Advantage Fixed Tenure Fund III - Plan C, a close ended income scheme. The NFO opens
for subscription on May 17, 2013 and closes on May 31, 2013. The investment objective of the scheme is 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.
IDBI MF introduces FMP - Series III - 370 Days (May 2013)
IDBI Mutual Fund has launched the New Fund Offer (NFO) of IDBI fmp - Series III - 370 Days (May 2013) - E, a close ended income scheme. The NFO opens for
subscription on May 22, 2013 and closes on May 28, 2013. The investment objective for each Plan(s) under the Scheme will be to generate income through
investments in Debt and Money Market Instruments. In accordance with SEBI Circular No SEBI/IMD/ CIR No. 12/147132/08dated December 11, 2008 each Plan
shall invest only in such Rs. 5000securities which mature on or before the maturity date of the respective plan.
Harshal Joshi appointed as the key personnel for IDFC MF
IDFC Mutual Fund has appointed Mr. Harshal Joshi to be a key personnel of AMC and hence shall be the fund manager for FMPs having tenure of one year or below
which will be launched hereafter. The change is w.e.f. May 20, 2013. Harshal Joshi aged 28 years holds PGDBM from N.L.Dalmia Institute of Management Studies
and Research, Mumbai. He has been working in IDFC Mutual Fund since December 2008 with fixed income investment team. Prior to joining IDFC Mutual Fund
have worked in ICAP India Pvt Ltd from 2006 to 2007. He has an overall experience of 5.5 years.
Axis Mutual Fund declares dividend under Income Scheme.
Axis Mutual Fund has declared dividend under Axis Income Saver- Quarterly Dividend and Axis Income Saver- Direct Plan - Quarterly Dividend. The record date for
dividend is May 27, 2013. The investment objective of the scheme is to generate regular income through investments in debt & money market instruments, along
with capital appreciation through limited exposure to equity and equity related instruments. It also aims to manage risk through active asset allocation.
UTI Fixed Income Interval Fund Half Yearly Interval Plan
UTI Mutual Fund has declared dividend under dividend sub option of UTI Fixed Income Interval Fund Half Yearly Interval Plan - I-Retail. The record date for
dividend is May 27, 2013. The rate of dividend will be 100% of distributable surplus as on the record date on the face value of ̀ 10 per unit.
Tata Fixed Maturity Plan Series 40 Scheme C declared dividend
Tata Mutual Fund has declared dividend under the periodic dividend option of Tata Fixed Maturity Plan Series 40 Scheme C. The record date for dividend is May 27,
2013. The rate of dividend (per unit) will be entire distributable surplus on the face value of ̀ 10 per unit.
17®
NFOs WATCH
Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount
13-May-2013 27-May-2013 Close-Ended Growth `5000/-DSP BlackRock Dual Advantage Fund - Series 15
Dhawal Dalal / Vinit Sambre
To generate returns and seek capital appreciation by investing in a portfolio of debt and money market securities. The scheme also seeks to invest a portion of the portfolio in equity & equity related securities to achieve capital appreciation. As far as investments in debt and money market securities are concerned, the Schemes will invest only in securities which mature on or before the date of maturity of the Schemes.
23-May-2013 27-May-2013 Close-Ended Growth `5000/-HDFC Fixed Maturity Plan - 366D - May 2013 Series 26 (2) Direct Plan (G)
Anil BamboliTo generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan.
17-May-2013 31-May-2013 Close-Ended Growth `5000/-Reliance Dual Advantage Fixed Tenure Fund III - Plan C (G)
Samir Rachh / Anju Chajjer
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.
17-May-2013 31-May-2013 Close-Ended Growth `5000/-ICICI Prudential Multiple Yield Fund - Series 4 - Plan A - Direct Plan (G)
Rajat Chandak / Rahul Goswami
To seek to generate income by investing in a portfolio of fixed income securities/ debt instruments. The secondary objective of the Scheme is to generate long term capital appreciation by investing a portion of the Scheme\'s assets in equity and equity related instruments.
18
MUTUAL FUND Performance Charts
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch AUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Birla Sun Life India GenNext F-Growth 32.21 05-Aug-2005 128.25 5.00 8.85 32.66 16.25 16.17 1.70 0.75 0.21 49.65 39.19 4.21 6.95
Canara Robeco FORCE Fund-Reg-Growth 16.12 14-Sep-2009 114.24 4.09 6.61 32.13 11.75 13.81 2.06 0.94 0.13 57.18 26.53 3.52 12.78
Axis Equity Fund-Growth 12.76 05-Jan-2010 531.80 4.96 11.44 31.95 8.21 7.48 1.70 0.84 0.15 76.33 6.08 3.79 13.80
Morgan Stanley Growth Fund-Growth 67.34 18-Feb-1994 1331.44 2.94 9.03 30.35 6.11 12.13 1.72 0.82 0.11 74.46 20.24 0.84 4.45
SBI Magnum Bluechip Fund - Growth 16.79 14-Feb-2006 856.35 1.71 7.12 29.82 7.96 7.38 1.63 0.80 0.15 71.34 13.44 N.A 15.21
Birla Sun Life Frontline Equity F-Plan A-G 99.31 30-Aug-2002 3043.64 1.60 6.58 29.41 8.78 23.84 1.83 0.91 0.11 79.09 12.13 N.A 8.78
Franklin India Smaller Companies F-G 16.52 13-Jan-2006 322.84 -0.54 4.25 28.71 9.11 7.06 1.82 0.66 0.14 23.83 57.00 10.13 9.04
EQUITY (Diversified)
BALANCED
INCOME FUND
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 23/05/2013Beta, 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 AUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
SBI Magnum Balanced Fund - Growth 57.42 09-Oct-1995 374.07 1.65 5.77 25.76 6.98 15.74 1.18 0.14 30.29 26.93 14.05 28.73
Birla Sun Life 95 - Growth 346.24 10-Feb-1995 575.99 0.87 5.02 20.80 7.93 21.38 1.39 0.03 53.22 12.65 0.37 33.75
ICICI Prudential Balanced - Growth 55.94 03-Nov-1999 447.50 0.87 5.11 20.59 11.68 13.54 1.22 0.04 47.14 16.11 2.28 34.48
FT India Balanced Fund - Growth 55.53 10-Dec-1999 212.45 1.96 6.80 20.31 7.90 13.58 1.27 0.03 53.75 15.97 1.35 28.93
Tata Balanced Fund - Plan A - Growth 98.62 08-Oct-1995 508.47 2.40 4.06 20.17 9.80 15.87 1.40 0.04 49.59 21.28 3.40 25.74
Kotak Balance 18.89 25-Nov-1999 114.23 1.23 5.92 18.57 8.13 15.45 1.24 0.03 53.98 8.29 0.53 37.20
Reliance RSF - Balanced - Growth 24.73 08-Jun-2005 547.51 -0.72 0.61 17.76 7.02 12.04 1.50 0.01 51.46 11.69 5.14 31.71
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch AUM Since Std. SharpeMaturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
SBI Magnum Income Fund - Growth 30.61 25-Nov-1998 3018.90 11.20 48.37 42.27 21.29 16.94 10.59 7.98 19.76 0.44 3727.00 8.93
ICICI Prudential Income Opp. F-Growth 17.03 18-Aug-2008 2345.64 -0.73 46.24 42.00 18.58 16.44 9.62 11.82 19.01 0.43 3008.00 8.65
Birla Sun Life Income Plus - DAP 14.24 06-Mar-2009 2901.32 6.64 50.02 44.94 23.26 16.24 9.67 8.75 20.00 0.39 N.A 8.24
Morgan Stanley Active Bond F-Reg-G 12.91 03-Jun-2009 203.36 -0.65 51.02 45.93 22.27 16.21 8.62 6.64 22.07 0.35 4063.00 7.95
Birla Sun Life Income Plus - Growth 56.45 21-Oct-1995 2901.32 6.67 50.01 44.93 23.19 16.20 9.66 10.33 19.99 0.39 N.A 8.24
ICICI Prudential Income Fund -Growth 39.35 09-Jul-1998 2927.53 13.96 47.04 42.66 20.86 16.06 9.07 9.64 18.46 0.41 3734.00 8.29
Reliance Dynamic Bond Fund - Growth 16.57 16-Nov-2004 4182.45 13.38 46.34 39.21 20.14 16.03 10.91 6.07 19.51 0.37 4216.00 8.86
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch AUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
ICICI Prudential Dynamic Bond F- Reg-G 13.62 12-Jun-2009 428.03 8.24 25.03 28.23 18.50 13.44 9.68 8.14 13.57 0.40 2555.00 8.31
ICICI Prudential Blended-Plan B-Option I-G 18.13 31-May-2005 948.67 7.92 18.29 23.53 14.13 11.65 9.29 7.74 8.12 0.49 1011.00 8.54
UTI Short Term Income F-Ret-Growth 20.94 23-Jun-2003 2280.04 2.87 15.71 18.45 13.28 12.34 9.68 7.73 6.74 0.66 973.00 N.A
Templeton India STIP-Growth 2419.62 31-Jan-2002 5744.78 1.55 14.71 18.75 12.41 11.78 8.99 8.12 5.63 0.71 982.00 10.09
Kotak Bond Short Term Plan - Growth 22.71 02-May-2002 1413.95 3.06 15.79 17.87 12.31 11.41 8.03 7.69 5.47 0.67 953.00 8.75
ICICI Prudential STP - Growth 24.59 25-Oct-2001 4665.53 5.46 17.04 17.76 12.29 11.48 8.45 8.08 5.78 0.61 1048.00 8.68
Morgan Stanley Short Term Bond F-Reg-G 13.62 26-May-2009 332.49 8.51 17.11 20.32 12.28 11.54 9.06 8.13 6.06 0.62 1143.00 9.21
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch AUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
DWS Money Plus Fund - Growth 16.44 14-Mar-2006 433.32 5.78 11.79 13.93 9.81 9.65 7.08 7.15 3.84 0.57 562.00 8.50
Templeton India Low Duration F-G 12.91 26-Jul-2010 2803.69 7.68 8.75 9.50 9.66 9.96 N.A 9.46 1.83 1.34 263.00 9.04
DWS Treasury Fund - Investment-Reg-G 13.21 09-Oct-2009 240.25 6.40 8.02 9.62 9.61 9.87 8.29 7.99 3.03 0.74 314.00 8.42
Indiabulls Ultra Short Term Fund-G 1141.66 06-Jan-2012 615.57 8.92 9.11 9.27 9.58 9.86 N.A 10.09 1.55 1.60 133.00 8.76
Kotak Floater - LT - Growth 18.97 13-Aug-2004 4289.57 7.71 9.38 10.43 9.50 9.67 8.80 7.56 1.99 1.19 193.00 8.80
Reliance Medium Term Fund - Growth 24.76 14-Sep-2000 4350.12 6.37 8.67 10.31 9.39 9.92 8.79 7.40 2.70 0.88 320.00 8.57
Kotak Flexi Debt Fund - Growth 18.26 07-Dec-2004 1520.79 7.46 9.64 10.69 9.35 9.34 8.16 7.37 1.83 1.05 172.00 8.90
Annualised
®
Investor Awareness Seminar on Commodities organised by SMC on 18th May at Goregaon Sports Club, Mumbai.
