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HAPPY FRIENDSHIP DAY
2013: Issue 382, Week: 5th - 08th AugustA Weekly Update from SMC(For private circulation only)
WISE M NEY
Bra
nd
sm
c 2
04
(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:
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Malad (West), Mumbai 400064
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Tel : 91-33-39847000/39801300, Fax No : 91-33-39847004
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Printed and Published on behalf of
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102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Ph.: +91-11- 43035012, 43035014, Email: [email protected]
lobal stock markets except India strengthen on account of signals of
continuation of easy policy stance by U.S. Federal Reserve and European GCentral Bank (ECB) along with reports of improvement in manufacturing
activity around the globe. U.S. Federal Reserve said that it would maintain the asset
purchase program until there is a substantial decline in the unemployment level along
with the price stability. ECB said that the low rates would stay for an extended period
of time and policy would remain accommodative as long as it is necessary.
Back at home, in the monetary policy review meeting, Reserve Bank of India kept
rates unchanged and said that the recent measures taken to curb the undue volatility
in the currency market would be taken back in a calibrated manner. RBI said that the
government has to take some structural reforms to revive the growth as falling growth
would have spiraling effect on fiscal deficit, financial stability, current account
deficit and real demand and saving rate.
Indian markets came off sharply after the policy announcement that was already
seeing pressure as a result of foreign outflows and RBI measures to curb depreciation
in currency. It seems investor's confidence has now got shattered as recovery is yet to
gain momentum in the economy. Stocks from sectors beginning from Banks to
infrastructure came off sharply as the perception of growth momentum in the second
half of the fiscal seems to get somewhat elongated. Political uncertainties could rise
and would be the major guiding factor for the economy and markets.
In order to woo the foreign investors and bring more foreign direct investment in the
country, Government relaxed the rules under the FDI policy. The Cabinet Committee
on Economic Affairs (CCEA) has approved the proposal of the Department of Industrial
Policy & Promotion (DIPP) changes to the definition of “control” of a company to
fasten the acquisitions and mergers. “Control” shall include the right to appoint
majority of the directors or to control the management or policy decisions including
by virtue of their shareholding or management rights or shareholders agreements or
voting agreements."
Government would try to pass some important bills in the monsoon session beginning
from 5th August 2013 to send a strong signal to the economy and markets that it stands
strong in the reform process to bring growth and confidence back in the economy. Bills
including food security, Insurance, Pension, etc are expected to be tabled in the
session.
Fear of tapering bond purchase programme by the Fed due to improved economic data
may keep the bullions subdued while crude oil counters may continue to register fresh
high in MCX. Last week, U.S. Federal Reserve ended a policy meeting without any sign
that its $85 billion monthly bond-buying program would end soon. But strong
economic data supported the view among investors that the Fed will start reducing
stimulus later this year. Base metals continue to hover in a range. Copper stockpiles
monitored by the London Metal Exchange (LME) dropped for a 12th session, the
longest streak since May 2012, to 610,725 metric tonnes. Dollar index may move in the
range of 81-83 levels. In agro pack, festival demand may support the market
sentiment in Sugar counter. Mustard prices may get support tracking uptrend in Indore
and other mandis across Madhya Pradesh, Rajasthan and Gujarat on strong global cues
and decline in 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 19317 DOWN 01.08.13 19317 19800 19950 20050
S&P NIFTY 5728 DOWN 01.08.13 5728 5870 5900 5950
CNX IT 7777 UP 18.07.13 7306 7300 7200 7100
CNX BANK 10143 DOWN 13.06.13 11687 10800 11100 11300
ACC 1149 DOWN 17.01.13 1359 1230 1260 1300
BHARTIAIRTEL 343 UP 18.07.13 324 325 315 310
BHEL 151 DOWN 01.11.12 227 175 185 190
CIPLA 403 UP 18.07.13 413 395 385 380
DLF 138 DOWN 21.03.13 239 170 180 190
HINDALCO 88 DOWN 13.06.13 97 95 100 105
ICICI BANK 914 DOWN 13.06.13 1069 980 1010 1030
INFOSYS 2975 UP 18.07.13 2800 2800 2750 2700
ITC 339 UP 04.03.11 172 350 340 330
L&T 845 DOWN 23.05.13 945 920 940 960
MARUTI 1340 DOWN 13.06.13 1457 1450 1480 1510
NTPC 132 DOWN 20.06.13 140 140 145 150
ONGC 279 DOWN 13.06.13 309 300 310 320
RELIANCE 850 UP 04.07.13 862 860 840 830
TATASTEEL 210 DOWN 07.02.13 390 250 260 270
NEWS
EX DATE SYMBOL PURPOSE5-AUG-13 INDIACEM DIVIDEND RS 2 PER EQUITY SHARE6-AUG-13 CIPLA DIVIDEND RS 2/- PER EQUITY SHARE6-AUG-13 CASTROL INTERIM DIVIDEND6-AUG-13 AMARAJABAT DIVIDEND RS.2.52 PER SHARE7-AUG-13 CRISIL INTERIM DIVIDEND RS.3/- PER EQUITY SHARE8-AUG-13 GODREJCP INTERIM DIVIDEND12-AUG-13 ENGINERSIN DIVIDEND RS.3/- PER SHARE12-AUG-13 TATACHEM DIVIDEND - RS.10/- PER EQUITY SHARE13-AUG-13 LT DIVIDEND - RS 12.33/- PER SHARE13-AUG-13 MARUTI FINAL DIVIDEND RS.8/- PER EQUITY SHARE
MEETING DATE SYMBOL PURPOSE
5-AUG-13 TATACHEM RESULTS6-AUG-13 UNITECH RESULTS6-AUG-13 TATAPOWER RESULTS6-AUG-13 KARURVYSYA RESULTS7-AUG-13 RANBAXY RESULTS7-AUG-13 TATAMOTORS RESULTS7-AUG-13 LUPIN RESULTS7-AUG-13 ABAN RESULTS7-AUG-13 APOLLOTYRE RESULTS8-AUG-13 RECLTD RESULTS8-AUG-13 NMDC RESULTS9-AUG-13 CIPLA RESULTS9-AUG-13 ABB RESULTS12-AUG-13 TECHM RESULTS12-AUG-13 ONGC RESULTS12-AUG-13 HINDPETRO RESULTS12-AUG-13 IGL RESULTS12-AUG-13 BAJAJHIND RESULTS
FORTHCOMING EVENTS
DOMESTIC NEWSEconomy• India's central bank kept its key interest rates unchanged; the Reserve Bank
of India (RBI) has decided to maintain the key repo rate at 7.25 percent and the reverse repo rate at 6.25 percent.
• According to data from a survey by Markit Economics and HSBC Bank, India's manufacturing activity almost ceased to increase in July as output and new orders continued to fall. The seasonally adjusted purchasing managers' index (PMI) for the manufacturing sector dropped to 50.1 in July from 50.3 in June, and stayed slightly above the no-change 50 mark that separates growth from contraction.
Automobile• ·Mahindra & Mahindra will stop production for up to six days in the
forthcoming months at its automotive plants to adjust output to demand in the market.
• Tech Mahindra's Brazilian subsidiary has won two multi-million dollar contracts to deliver enterprise solutions for oil & gas and banking verticals.
• TVS Motor Company plans to launch two new motorcycle models in the Kenyan market. These motorcycles will be specific to the Kenyan markets in terms of usability, reliability and durability. The company also formally commissioned an assembly line at Nakuru.
Pharmaceuticals• Strides Arcolab Limited has received tentative approval from the US FDA for
its anti aids combination drug Tenofovir Disoproxil Fumarate and Emtricitabine Tablets, 300mg and 200mg.
• Lupin has received US health regulator's approval to market generic version of Gilead Sciences, Inc's Ranexa tablets, a drug used to treat heart disease, in the American market.
• ·Lupin's US subsidiary has received tentative approvals for its Armodafinil tablets and Doxycydine capsules from the US health regulator.
• Vivimed Labs has acquired a manufacturing facility of Actavis Pharma Manufacturing Ltd for a total consideration of ̀ 122 crore.
Media & Entertainment• Zee Entertainment Enterprises Ltd (ZEEL) has finally announced its new
Hindi movie channel. The channel called '&pictures' will be launched next month and will be a vehicle for Bollywood premiers on television.
Oil & Gas• Indian Oil Corp (IOC) restored supply of subsidised cooking gas (LPG) and
kerosene to Bhutan after a month long hiatus.Realty/ Infra• Pratibha Industries has bagged a `205 crore contract for a water supply
project from Public Health Engineering Department, Jaipur. The contract has been awarded for water supply scheme to 161 villages of Phagi Tehsil in Jaipur under Bisalpur Dudu Phagi Water Supply Project.
• IRB Infrastructure has decided to withdraw from the `9,360 crore Mumbai Trans Harbour Link (MTHL) citing bad experience on some other infrastructure projects in the state.
Telecom• Bharti Airtel plans to completely acquire US firm Qualcomm's Indian 4G
venture, Wireless Business Services, by end of next year.Metal/ Mining• JSW Steel Limited will commission the new plant to manufacture non-grain
oriented (CRNO) grade electrical steel with a capacity of 2,00,000 tonne per annum at Vijayanagar steel complex in Bellary district during the next financial year.
• Sesa Goa is looking at investing up to $400 million on its Liberian iron ore mining project in 2-3 years. It is gearing up to complete the first phase of mining in the West African nation by December, 2014.
INTERNATIONAL NEWS• US gross domestic product increased by 1.7 percent in the second quarter
following a revised 1.1 percent increase in the first quarter. Economists had expected GDP to rise by 1.1 percent compared to the 1.8 percent growth that had been reported for the previous quarter.
• US construction spending fell 0.6 percent to a seasonally adjusted annual rate of $883.9 billion in June from the revised May estimate of $889.4 billion. Economists had been expecting spending to increase by about 0.4 percent.
• US purchasing managers index surged up 55.4 in July from 50.9 in June, with a reading above 50 indicating growth in manufacturing activity. Economists had expected the index to climb to a reading of 53.1.
• US initial jobless claims fell to 326,000, a decrease of 19,000 from the previous week's revised figure of 345,000. The decrease surprised economists, who had expected jobless claims to edge up to 345,000 from the 343,000 originally reported for the previous week.
• The monetary base in Japan spiked 38.0 percent on year in July, standing at 170.389 trillion yen. That follows the 36.0 percent jump in June.
• The European Central Bank held its key interest rate unchanged for the third consecutive month. The Governing Council led by ECB President Mario Draghi left the main refinancing rate steady at a record low 0.50 percent as expected. The rate was slashed by a quarter-basis point in May, the first rate cut in nine months.
*Stock price has been adjusted according to the Bonus ratio 1:2
®
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)
®
-2.69
-2.18
-5.69
-4.88 -4.72
-3.40
-6.00
-5.00
-4.00
-3.00
-2.00
-1.00
0.00
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Junior S&P CNX 500
-2.26
-3.11-2.81
-2.22
-6.89
-1.40
2.80
-3.19
-5.74
-6.98
-11.06-12.00
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
-0.88
1.73
0.44
0.90
0.22
0.55
0.91
1.941.86
-1.50
-1.00
-0.50
0.00
0.50
1.00
1.50
2.00
2.50
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
6.53
2.98 2.30 2.22 2.11
-22.18
-20.02
-13.69 -13.07
-11.17
-25.00
-20.00
-15.00
-10.00
-5.00
0.00
5.00
10.00
Jindal Steel HCL Technologies
TCS Lupin Infosys JP Associates DLF Ranbaxy Labs.
B P C L Reliance Infra.
13.95
6.08
2.41 2.06 1.88
-8.15 -7.78 -7.36 -7.19
-5.13
-10.00
-5.00
0.00
5.00
10.00
15.00
20.00
Wipro Jindal Steel TCS Infosys Bharti Airtel ITC O N G C Hindalco Inds.
NTPC B H E L
-209.10
-358.50
29.10
-173.40
289.40
227.20177.20
15.80
-400.00
-300.00
-200.00
-100.00
0.00
100.00
200.00
300.00
400.00
Friday Monday Tuesday Wednesday Thursday
FII Activity MF Activity
Beat the street - Fundamental Analysis
6
® Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline
Face Value (`) 2.00
52 Week High/Low 142.00 / 92.40
M.Cap (` Cr.) 2410.11
EPS (`) 11.05
P/E Ratio (times) 11.28
P/B Ratio (times) 2.33
Stock Exchange BSE
VALUE PARAMETERS
% OF SHARE HOLDING
KPIT CUMMINS INFOSYSTEMS LIMITED CMP: 124.65 Upside: 34%Target Price: 167
Investment Rationale •The consolidated net profit surged 17.5% to ̀ 60.13 crore on 7.6% growth in revenue to `613.21 crore •The company expects revenues to grow in the in Q1 June 2013 over Q4 March 2013. Net profit range of 14-16% to USD 465-475 million in FY'14 margin expanded by 83 basis points (bps) quarter with PAT growth of 16-20% to USD 230.9-238.8 on quarter (QoQ) to 9.81% in Q1 June 2013. million. Also, it expects margins to improve by 50 EBITDA (earnings before interest, taxation, bps going forward. depreciation and amortization) margin including •During the quarter ended June 2013, it has won the impact of full quarter wage hikes stood at multi-million dollar deals in US market related to JD 15.86%, down 197 bps on sequential basis. Edwards (JDE) upgrades and Oracle E-Business
ValuationSuite. Also, the SAP Strategic Business Units (SBU) pipeline looks healthy with a couple of large The company has built a robust deal pipeline in US deals in the US and Asia-Pacific (APAC) regions and APAC, making it confident of stronger growth and each and expects to close some of these deals in profit performance going forward. It expects to add the next quarter. 1000+ employees for the FY'14 predominantly to
•In Systems Applications Products (SAP), the recruit in the offshore. On the estimated FY14E EPS company has announced couple of maintenance of `13.9 and one year average P/Ex of 12.04x, we support deals and expects good growth with expect the stock to see a price target of 167 in one reasonable improvement in the margins for the year time frame. FY'14. Also, Integrated Enterprise Solutions (IES) having higher margins and expects further improvement in margins going forward.
•During the quarter ended June 2013, the Manufacturing and Integrated Enterprise Solutions (IES) witnessed strong growth. However, the Automotive & Transportation vertical witnessed de-growth on account of postponement of milestone payments. But, the company expects growth will be back from the next quarter.
•During the quarter ended June 2013 the company added 6 new customers taking the total active customers to 189. Total number of customers with run rate of more than $1 million is at 78.
` in cr
Particular Mar 2013 Mar 2014 Mar 2015
Revenue 2,238.63 2,577.68 2,929.62
EBITDA 364.14 434.33 484.28
EBIT 316.99 379.59 428.90
Pre-Tax Profit 284.72 372.31 427.31
Net Profit 199.01 243.96 285.12
EPS 10.56 13.90 15.90
BYPS 53.74 69.64 82.45
ROE 22.91 21.57 20.59
P/BV Chart
Face Value ( ) 10.00
52 Week High/Low 280.00/180.55
M.Cap (` Cr.) 4557.24
EPS (`) 13.66
P/E Ratio (times) 18.19
P/B Ratio (times) 4.43
Dividend Yield (%) 2.21
Stock Exchange BSE
`
` in cr
Particular Mar 2013 Mar 2014 Mar 2015
Revenue 1,490.51 1,812.79 2,030.78
EBITDA 376.01 473.92 551.32
EBIT 317.95 397.32 467.86
Pre-Tax Profit 331.30 406.65 488.02
Net Profit 218.14 272.02 323.49
EPS(GAAP) 11.88 14.89 17.95
BVPS 56.12 64.23 74.25
ROE 22.30 26.01 26.62
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale by 31%, FMCG by 18% and Education sector by
17% in Q1. National and Retail advertising both •The company continues to maintain leadership grew by strong double digit.position as the largest print media group amongst
•The management said that 21% advertisement national dailies with 19.8 million readers. Its growth is on better yield management due to leadership dominance is in Madhya Pradesh, internal efficiency of team and support from market Chhattisgarh, Chandigarh, Punjab, Haryana along with a lower base of Q1 FY13. It has seen (CPH), urban Rajasthan and urban Gujarat.70% - 75% yield improvement.•Digital business maintains steady achievements.
Its total page views have surged to 339 million for Valuation
all websites, together. www.dainikabhaskar.com The company continues to strengthen its internal su rges to ~217 m i l l i on page v iews . capacities and resources and remain optimistic about www.divyabhaskar.com surges to over 103 million the progress in every region. The company has been page views and is ahead of its peers by 5 times. consolidating its pan-India readership growth
•The cover price realization was up by 17% for the especially in the recently launched areas of Jharkhand
quarter ended June 2013. Realization price for and Maharashtra which are emerging strongly.
copies was up from `1.52 to `1.78 because at We, thus, expect the stock to see a price target of ̀ 302 certain markets commission for dealers were in one year time frame, based on estimated FY14E fixed, which didn't change despite rise in cover EPS of 14.89 on a one year average P/Ex of 20.28.price. The average cover price is up from `2.53 in
Q1 FY13 to `2.8 in Q1 FY14. The management
said that its focus is not more on increasing cover
price but on advertisement growth.
•In Madhya Pradesh, the company has increased
the circulation by 38000 copies and also increased
cover prices. The company is planning for
increasing circulation copies in Madhay Pradesh,
Gujarat and Rajasthan.
•Automobile segment ad revenue grew by 21%
driven by two wheeler advertisement (ratio of two
wheelers to four wheelers was 50:50), real estate
P/E Chart
D B CORP LIMITED CMP: 248.50 Upside: 21%Target Price: 302
14.77 5.34
3.58
74.98
1.34 Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
45.98
10.93
4.57
24.25
14.27
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
Charts by Spider Software India Ltd
7
The stock closed at 347.60 on 01st August 2013. It made a 52-week low at
`321.50 on 31th July 2013 and a 52-week high at ̀ 571 on 15th October 2012. The
200 days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 387.88.
Due to the fall in banking index, it also fell sharply and reached to 325 levels.
Last week, it managed to sustain at the mentioned levels and made a reversal
candlestick bar, which could be a sign of reversal in it in the near term. One can
Buy in the range of 345-350 levels with closing below stop loss of 335 levels for
the target of 365-370 levels.
`
EQUITY
Above calls are recommended with a time horizon of 1-2 months
The stock closed at 188.75 on 01st August 2013. It made a 52-week low at
`173.10 on 01st October 2012 and a 52-week high of `273 on 15th March 2013.
The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart
is currently at ̀ 191.27.
After making 52 week high of 273 levels, it came close to its 200 EMA and rested
above the same in last few weeks' trade. Moreover, it has formed reversal bar on
weekly basis, which could be an indication that it may trade upwards in the near
term. One can Buy in the range of 190-192 levels with closing below stop loss of
183 levels for the target of 205-210 levels.
`
The stock closed at 288.95 on 01st August 2013. It made a 52-week low at
`216.15 on 03rd August 2012 and a 52-week high at `337.40 on 10th January
2013. The 200 days Exponential Moving Average (EMA) of the stock on the weekly
chart is currently at ̀ 226.68.
As we can see on the charts, it is in consolidation phase since last few months
and despite weakness in all other counters, it managed to trade in a range,
which determines its strength. One can Buy 286-288 levels with closing below
stop loss of 280 levels for the target of 300-305 levels.
`
FEDERAL BANK
TATAMOTORS
MAX INDIA
®
DERIVATIVES
BASIS GAP IN NIFTY
The Nifty opened on a flat note last week around 5900 but, it came under intense selling pressure in the latter half of the week and closed below 5700. The
benchmark index outperformed the banking index by a wide margin. Also, majority frontline stocks saw open interest addition on the short side. On the F&O
front, the overall market open interest rose with decrease in cost of carry indicating short buildup. Among Nifty options, the 5700-strike put has the highest open
interest of 60 lakh shares followed by the 6000-strike call which have OI of over 70 lakh shares. Last week, the 6000-strike call saw the highest addition in open
interest of over 20 lakh shares indication call writing. The PCR OI for the week closed at 1.06. The Nifty VIX for the week traded in a narrow range of 16.5-17.5
levels thereafter given breakout above 18%. It is currently trading above its 10-day EMA at 20.80%. The Implied Volatility (IV) of call options closed higher at
18.10% while the average IV of put options ended at 18.70%. Nifty VIX has increased last week and is expected to remain volatile in the short term. On the
technical front, the Nifty has failed to sustain above 5700 levels last week. It is likely to see increased selling pressure if it breaks below 5600. On the upside,
investors should watch for 5750 levels, above which short covering can come in.
WEEKLY VIEW OF THE MARKET
NIFTY TOTAL OPEN INTEREST (in share)
FIIs ACTIVITY IN INDEX FUTURE (F&O) IN LAST WEEK
(Derivative segment)
®
FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS
(Derivative segment) `(Cr)
AXISBANK (AUG FUTURE)
Buy: Above `1121
Target: `1154
Stop loss: `1105
HEROMOTOCOBuy AUG 1820 CALL 40.00Buy AUG 1760 PUT 45.00
Lot size: 125Upside BEP: 1905.00Downside BEP: 1675.00Max. Profit: UnlimitedMax. Loss: 10625.00 (85.00*125)
OPTIONSTRATEGY
FUTURESTRATEGY
HDFCBANKBuy AUG 640 CALL 17.50Buy AUG 620 PUT 14.00
Lot size: 500Upside BEP: 671.50Downside BEP: 588.50Max. Profit: UnlimitedMax. Loss: 15750.00 (31.50*500)
AUROPHARMA (AUG FUTURE)
Sell: `155
Target: `147
Stop loss: `159
Below
M&MBuy AUG 880 CALL 25.00Buy AUG 840 PUT 28.00
Lot size: 250Upside BEP: 933.00Downside BEP: 787.00Max. Profit: UnlimitedMax. Loss: 13250.00 (53.00*250)
VOLATILITY STRATEGY
DERIVATIVE STRATEGIES
BANKBARODA (AUG FUTURE)
Sell: `484
Target: `465
Stop loss: `494
Below
BUY2.7%
SELL97.3%
0
5
10
15
20
25
30
35
40
45
50
18-Jul 19-Jul 22-Jul 23-Jul 24-Jul 25-Jul 26-Jul 29-Jul 30-Jul 31-Jul 01-Aug
159300 193500
593600
965600
2891100
3651800
1728650
4154850 4174900
6309850
4179550
3178650
2054000
3604250
4204050
6246350
4079550
2512100
1566400
590250427550 318200
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
5300 5400 5500 5600 5700 5800 5900 6000 6100 6200 6300
Call Put
-605.25
-187.74-14.83
-304.41
1413.50
1019.50
1269.62
1614.75
139.78
1164.30
-1000.00
-500.00
0.00
500.00
1000.00
1500.00
2000.00
19-Jul 22-Jul 23-Jul 24-Jul 25-Jul 26-Jul 29-Jul 30-Jul 31-Jul 01-Aug
8
9
BHARTIARTL 7771000 10477000 34.82 0.67 1.16 0.49 35.74 39.75 4.01
DLF 18228000 26519000 45.48 0.55 0.36 -0.19 52.70 65.50 12.80
HINDALCO 22992000 27228000 18.42 0.60 0.48 -0.12 40.45 50.46 10.01
HINDUNILVR 7148500 7542000 5.50 1.24 1.22 -0.02 34.79 32.14 -2.65
ICICIBANK 8400500 9135250 8.75 0.68 0.61 -0.07 39.05 41.44 2.39
IDEA 7234000 9172000 26.79 0.37 0.47 0.10 45.43 55.90 10.47
INFY 2834875 2909000 2.61 1.54 1.27 -0.27 23.22 24.05 0.83
ITC 21554000 22328000 3.59 1.03 0.71 -0.32 24.98 32.10 7.12
JPASSOCIAT 67208000 82692000 23.04 0.62 0.46 -0.16 74.18 81.54 7.36
NTPC 11242000 11988000 6.64 0.40 0.43 0.03 23.19 29.98 6.79
ONGC 6683000 8759000 31.06 0.37 0.39 0.02 27.97 40.58 12.61
RANBAXY 3737000 3960500 5.98 0.80 0.61 -0.19 42.67 57.77 15.10
RCOM 29020000 29152000 0.45 0.39 0.57 0.18 55.50 59.59 4.09
RELIANCE 7687750 8009750 4.19 0.60 0.49 -0.11 24.29 27.98 3.69
NIFTY 18017050 16417850 -8.88 1.11 1.06 -0.05 16.16 18.10 1.94
SAIL 15468000 12820000 -17.12 0.48 0.55 0.07 42.69 52.93 10.24
SBIN 5805000 6017000 3.65 0.57 0.53 -0.04 39.55 40.39 0.84
TATASTEEL 22958000 22771000 -0.81 0.60 0.52 -0.08 39.20 42.57 3.37
UNITECH 68424000 67648000 -1.13 0.44 0.42 -0.02 61.02 70.15 9.13
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 1.06 from 1.11. At the end of the week, the maximum stocks had a positive of
change in put call open interest ratio.
Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week
has increased to 18.10% from 16.16%. The IV of the stock futures has changed this
week ranging from -2.65% to 15.1%.
Open Interest Analysis : The open interest for the index at the end of this week
has decreased by 8.88% as compared to the previous week. All future stocks saw
changes in their open interest ranging from -17.12% to 45.48%. DLF has the
maximum increase in open interest as compared to other stocks.
Statistical Analysis·
Open 5955.00 High 5974.25
Low 5701.0 Close 5762.05
NIFTY & IV CHART NIFTY ANALYSIS
®
15
16
17
18
19
20
5600
5700
5800
5900
6000
26-Jul 29-Jul 30-Jul 31-Jul 01-Aug
Nifty Close IV
10
®
Bullion counter may remain with weak as improvement in the US economy
can lead to tapering of monetary stimulus by Fed. Bounce back in the
greenback and lack of safe haven demand can add to further selling
pressure. On the domestic bourses weakness in local currency rupee has
capped the downside in the gold prices. Local currency rupee has again
weakened to 61 Vs Dollar. Gold may trade in the range of $1180-1340 in
COMEX and 26000-28000 in MCX. White metal silver can also trade in the
range of 39500-42500 in near term. The Federal Reserve stated last week
that it will maintain its $85 billion monthly asset-buying program and that
persistently low inflation could hamper the economic expansion. Assets in
the SPDR Gold Trust, the biggest bullion backed exchange traded fund
decreased to 921.05 metric tonnes last week. SPDR holdings have
contracted 32 percent this year to the lowest level since February 2009.
India imported 536 tonnes of gold in the first six months of this year alone as
compared to 860 tonnes in 2012. More than 330 tonnes of gold was imported
in the April-June quarter as traders stocked up the yellow metal to cash in on
the fall in prices in the international market. In order to control the current
account deficit Indian government has recently taken lot of steps to curb
gold imports. Indian consumers are likely to end up paying more for gold as
fresh restrictions on imports of the yellow metal imposed by the Reserve
Bank of India (RBI) will reduce supply in the market.
BULLIONS
Bullish momentum in Crude oil may persist further on signs of improved US economy and Middle East tensions. On domestic bourses weakness in the local currency has also given support to the prices. Overall it can trade in the range of 6200-6800 in MCX and $103-113 in NYMEX. Last week Draghi affirmed that monetary easing would remain in place "for as long as necessary" and the central bank "expects the key ECB interest rates to remain at present or lower levels for an extended period of time. Tensions in Middle East continue to lift crude oil prices higher. Last week Colonel Ali Ahrash, Libya's head of security for oil and gas infrastructure in Libya resigned. Libyan crude exports will drop by almost 80 percent after terminals were shut amid labor protests, according to Libyan Oil Minister. Pressure on oil markets, may continue as post Arab Spring governments find it hard to deliver on their promises. It's unlikely that the global market will experience a crisis like the one in 2011, when Libya was shut out of the oil market completely. But while the poles are shifting away from the Middle East in terms of oil production, global economic concerns and conditions remained anchored solidly to the region. Natural gas may remain subdued and can test 200 in MCX due to feeble demand and burgeoning inventories. Last week EIA stated that supplies rose 59 billion cubic feet in the week ended July 26 to 2.845 trillion. Commodity Weather Group LLC said the weather may be mostly cooler than average in the eastern two-thirds of the U.S. through Aug. 15.
ENERGY COMPLEX
Base metals complex may trade on volatile path on mixed fundamentals. China's GDP growth slowed in the second quarter to 7.5 percent year on year as weak overseas demand weighed on output and investment, lining up a test of Beijing's resolve to revamp the world's second-biggest economy in the face of deteriorating data. Red metal copper can trade in the range of 405-430. ICSG data shows copper demand down 1.6% year-on-year during the first four months of 2013, while mine output was up by 9%. Chinese demand growth in copper has been a very useful stabilizing factor for the copper market this year. Sales of new U.S. homes rose in June to a five-year high indicating improvement in US housing sector. Aluminum prices may move in the range of 104-112 levels while Zinc prices can hover in the range of 108-114 in MCX. Alcoa Inc, the largest U.S. aluminum producer, still sees global demand for aluminum products growing 7 percent this year, signaling a potential price rise for the metal as bulging Chinese aluminum inventories begin to dwindle. Nickel prices can trade in the range of 820-860 in MCX. Sumitomo Metal Mining believes a surplus in nickel markets may expand further this year as growing nickel pig iron output in China, Indonesia and the Philippines and slowing Chinese demand continues to weigh on prices. While battery metal, lead, can move in the range of 122-132. Global lead mine output is forecast to increase by 3.5% to 5.43 million tonnes in 2013.
BASE METALS
Chilli futures (Aug) is likely to plunge further towards 5150 levels as the sentiment has been dampened by the comfortable stocks of 65-68 lakh bags in Andhra Pradesh mandies, sufficient to meet the demand of next 5-6 months. Stockiest selling is likely to continue in chilli futures due to anticipation of bumper supplies in Madhya Pradesh along with comfortable stocks in local mandies. Moreover, timely sowing will also witness early harvesting of chilli crop in the state. Market participants are expecting fresh supplies from September month in all the mandies. The downside in turmeric futures (Aug) will possibly get further extended breaching 4800 levels, owing to steady sowing progress of crop & lack of upcountry orders. The growers of Erode are keen to sell their produce even at lower prices as they need finance for sowing operations in the current year, with the release of water from major dams into first turn canal of Lower Bhavani canal and also in the Kalingarayan canal. Cardamom futures (Sept) is seen to remain trapped in bearish zone, facing resistance near 800 levels. The first round of picking is under way and around 80 per cent of arrivals were of the new crop. But 7-8 mm capsules were much less. The current round of picking may last till the month-end. Superior grade material is expected to arrive during the second round. Jeera futures (Aug) will possibly manage to take support above 12750 levels as demand from global markets edges up after Ramadan. Demand is moderating in local markets, taking advantage of the persistent worries over supplies from Syria in the world markets.
SPICES
OTHER COMMODITIES
Mentha oil futures (Sept) is likely to resume its uptrend surpassing 935 levels. Seasonal demand from various consuming industries is expected to continue in the days to come. Arrivals at the spot market are seen on a lower side, getting interrupted by torrential rains in the major producing areas. Sugar futures (Aug) will probably maintain a consolidation in the range of 3010-3040 levels, with upside getting capped pressurized by enough inventory stocks at the spot markets. Market participants are waiting for fresh cues of demand as the government is examining a proposal to allow some states to increase the retail price of sugar sold through the Public Distribution System. The international market fundamentals show that, as per the data published by Brazil's cane industry association on July 24, the main center-south cane region has harvested 223 million tonnes of a nearly 590 million tonne crop. Unica made its 590 million tonne forecast in April and has signaled that it will reduce this forecast. Kapas futures (Apr) is expected to remain below 990 levels on account of higher area under cultivation and a drop in overseas demand. The press release by International Cotton Advisory Committee cited that production in India may rise a few hundred thousand tons because of a good monsoon season. Chana futures (Aug) is expected to trade in the range of 2550-2850 levels. Factors such as huge domestic stock and large inventories of imported Australian chickpea at the Mumbai port alongwith a bumper production of dollar chana may keep a lid on the short covering.
Soybean futures (Oct) is expected to trade in the range of 2900-3110 levels. In the current scenario, there are reports that the persistent rains have spoiled soya crop particularly in low-lying areas. Water logging has created moisture stress in some pockets of Indore, Hoshangabad and Harda division. While early sowing areas have lost crops at flowering stage in Ujjain, Shajapur, Bhopal and Khandwa districts. On the demand side, the enquiries from local solvent extractors are steady ahead of the festive season. On CBOT, market participants would be cautious ahead of the crop progress report along with weekly weather and crop bulletin report scheduled to be released by the U.S Department of Agriculture. Mustard futures (Aug) will possibly trade range bound facing resistance near 3245 levels. However, the downside may remain capped supported by the demand for oil in Indore and other mandis across Madhya Pradesh, Rajasthan and Gujarat. In Rajasthan mandis mustard oil was ruling higher with its prices in Kota and Ganga Nagar quoted at `640 each. In Neemuch, mustard seed is currently ruling at Rs 3,000-3,085. CPO futures are seen to edge up further higher supported by a weaker rupee. Weak domestic currency has pushed up import parity higher forcing local refineries to raise their rates. Moreover, the expectation of higher festival demand in August onwards kept the sentiment positive. In news, Indonesian markets are closed the whole of next week, while Malaysia will be closed on Aug. 8 and 9.
OIL AND OILSEEDS
Closing as on 01.08.2013
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
NCDEX SOYABEAN (OCT) 3014.00 25.07.13 DOWN 2884.50 - 3400.00 3500.00 3700.00
NCDEX JEERA (AUG) 13027.00 11.04.13 UP 13795.00 12400.00 - 12000.00 - 11500.00
NCDEX RED CHILLI (AUG) 5312.00 17.04.13 DOWN 6362.00 - 6000.00 6200.00 6300.00
NCDEX RM SEEDS (AUG) 3160.00 25.07.13 DOWN 3099.00 - 3700.00 3900.00 4000.00
MCX MENTHA OIL (AUG) 912.00 13.06.13 SIDEWAYS
MCX CARDAMOM (AUG) 647.50 28.02.13 DOWN 965.00 - 820.00 850.00 900.00
MCX SILVER (SEP) 41407.00 20.12.12 DOWN 57351.00 - 43000.00 44000.00 45000.00
MCX GOLD (OCT ) 27934.00 25.07.13 SIDEWAYS
MCX COPPER (AUG) 425.65 30.05.13 UP 414.55 400.00 - 390.00 - 380.00
MCX LEAD (AUG) 128.15 30.05.13 UP 122.90 119.00 - 116.00 - 113.00
MCX ZINC (AUG) 111.85 30.05.13 UP 107.55 106.00 - 104.00 - 102.00
MCX NICKEL (AUG) 846.10 21.02.13 DOWN 920.30 - 870.00 900.00 920.00
MCX ALUMINUM (AUG) 108.40 27.06.13 SIDEWAYS
MCX CRUDE OIL (AUG) 6557.00 06.06.13 UP 5404.00 6200.00 - 6100.00 - 6000.00
MCX NATURAL GAS (AUG) 206.70 06.06.13 DOWN 218.60 - 230.00 235.00 240.00
TREND RATE TREND S1 R1 S2 R2 CLOSING
*
TREND SHEET
COMMODITY
NICKEL MCX (AUGUST) contract closed at 848.80 on 1st August '13. The contract made its high of
`858.00 on 12th June '13 and a low of ̀ 805.00 on 16th July '13. The 18-day Exponential Moving Average
of the commodity is currently at ̀ 836. On the daily chart, the commodity has Relative Strength Index (14-day) value of 54. One can sell 850-
860 the range with the stop loss of ̀ 872 for a target of ̀ 815.
`
ALUMINIUM MCX (AUGUST) contract closed at 108.40 on 1st Aug '13. The contract made its high of
`110.75 on 13th July '13 and a low of ̀ 105.65 on 26th June '13.The 18-day Exponential Moving Average of
the Commodity is currently at ̀ 107.80.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 52.One can sell in the
range 108.50-109.50 with the stop loss of ̀ 110.50 for target of ̀ 105.
`
COPPER MCX (AUGUST) contract closed at Rs 425.65 on 1st August '13.The contract made its high of
`427.30 on 1st August '13 and a low of ̀ 397.95 on 25th June '13.The 18-day Exponential Moving Average
of the Commodity is currently at ̀ 416.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 51. One can sell in the
range 426-428 with the stop loss of ̀ 434 for a target of ̀ 410.
®
NICKEL MCX (AUGUST)
ALUMINIUM MCX (AUGUST)
COPPER MCX (AUGUST)
COMMODITY
NEWS DIGEST
The bullion counter started the past week with the positive note but plunged sharply lower during the latter part of the week as better US data prompted selling pressure because it raised questions about further continuation of monetary stimulus. However weakness in local currency rupee curtailed the downside to some extent in MCX. During the initial part of the week, Gold (Aug) contract tested the high of above 29000 in MCX. The July FOMC meeting was more dovish than expected with policymakers warned that modest growth, rising mortgage rates and persistently low inflation might affect recovery. The Fed downgraded its economic assessment by describing that economic activity expanded at a "modest pace" during 1H13. The stunning upside in the Crude oil prices continued as it made fresh life time high above 6600 in MCX and again crossed $108 in NYMEX. Last week US real GDP grew +1.7% in 2Q13 while the first quarter data was revised lower +1.1% from +1.8%. Household consumption gained +1.8% as led by a +6.5% increase in consumption of durables and a +2.0% gain in nondurables. Base metals moved upward due to the strong economic data and weakening rupee. Copper managed to move in the range of 406-427 in MCX. Zinc also remained sideways in the range of 107-112 while Lead moved nearly in the range of 121-128 in domestic bourses. LME lead inventories remained below 200,000 mt, with ratio of canceled warrant still at 54%, giving support to LME lead prices. In China, production at lead smelters was still constrained by lead concentrate shortages.During the past week, potato prices topped among the gainers, increased by 8% on the national bourse owing to increased demand in the spot market against the tight supplies from producing regions. The oilseeds counters after witnessing a sharp fall during the month of July, gained a little ground on report of some crop damage on account of continuous rains over the major growing areas. Moreover, the depreciation in Rupee supported the counters to gain during the previous week. A weak rupee makes edible oil imports expensive, but raises returns of oilmeal exporters. The Indian rupee was weaker in as strong U.S. data raised the prospects of the Federal Reserve beginning to taper its monetary stimulus this year. On the international market, soybeans lost 12% for July, the biggest monthly decline since September 2011, while U.S. corn fell nearly 27% on the month, its most in 17 years, following expectations earlier in the month about a looming big harvest. Malaysian palm oil futures edged higher by 4% buoyed by a weak ringgit currency, surprise export jump in the second half of July & lower inventories. Palm oil stocks in Malaysia currently stand at more than two-year lows of 1.65 million tonnes. The spices complex plunged on selling pressure & reports of higher sowing this season along with stockist liquidation.
WEEKLY COMMENTARY
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
COMMODITY UNIT 24.07.13 31.07.13 DIFFERENCEQTY.
BARLEY MT 29506 27795 -1711
CASTOR SEED MT 144771 137827 -6944
CHANA MT 153885 150296 -3589
CHILLI MT 9218 8858 -360
COTTONSEED OILCAKE MT 62377 57191 -5186
JEERA MT 6544 6253 -291
MAIZE MT 11030 10062 -968
RAPE MUSTARD SEED MT 96096 87525 -8571
SOYA BEAN SEEDS MT 2161 73 -2088
SUGAR M MT 9271 9142 -129
WHEAT MT 16444 16444 0
COMMODITY UNIT 25.07.13 01.08.13 DIFFERENCE
QTY. QTY.
CARDAMOM MT 52.40 40.90 -11.50
COTTON BALES 127600.00 124700.00 -2900.00
GOLD KGS 1045.70 366.00 -679.70
GOLD MINI KGS 34.20 250.20 216.00
GOLD GUINEA KGS 263.15 133.37 -129.78
MENTHA OIL KGS 1557465.90 1822748.00 265282.10
MILD STEEL MT 1045.70 1045.70 0.00
SILVER (30 KG Bar) KGS 35880.70 27713.60 -8167.10
•Global exchange-traded-product holdings net redemptions reached 52.1 tonnes in July, and 637.5 tonnes for the year-to-date, some 23% from their peak at the start of the year.
•US Pending Homes Sales Index, based on contracts signed last month, decreased 0.4 percent to 110.9. May's index was revised down to 111.3, the highest since December 2006, from a previously reported 112.3.
•US Consumer sentiment rose in July to the highest level in six years as Americans felt better about the current economic climate.
•Loans to the euro zone's private sector shrank by more than expected in June, starving the economy of the funds needed to sustain recovery and piling pressure on the European Central Bank to take fresh action.
•China's economy grew 7.5 percent in April-June from a year earlier, the ninth quarter of slowdown in the past 10 quarters.
•China's production of aluminium cranked up several gears last month to an annualised 22.42 million tonnes.
•China's net imports of refined copper slumped by 30 percent over the first half of this year.
•NCDEX launched futures contracts in Gold 100 grams (Symbol: GOLDIND100), available for trading from August 1, 2013. Contracts expiring in the months of August 2013, September 2013, October 2013, November 2013 and December 2013.
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
®
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
QTY.
8.09
5.60
4.644.27 4.17
-8.85 -8.64 -8.53
-7.50
-4.36
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
POTATO CRUDE OIL BR.CRUDE OIL COTTON SD. O.C (AKL)
COPPER GUAR GUM TURMERIC GUAR SEED CORIANDER RED CHILLI
7.50
5.575.13
4.46 4.25
-9.34-8.98
-7.93
-3.00
-1.54
-12.00
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
POTATO CRUDE OIL LEAD KAPASKHALI COPPER CARDAMOM GUAR GUM GUAR SEED NATURAL GAS KAPAS
Above Normal Monsoon…….. Jump in acreage
13
SPOT PRICES (% change)
COMMODITY
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
25.07.13 01.08.13
ALUMINIUM 5460300 5478525 18225
COPPER 627675 612800 -14875
NICKEL 199848 203028 3180
LEAD 198775 200225 1450
ZINC 1059650 1049475 -10175
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 26.07.13 01.08.13 CHANGE(%)
Soya CBOT NOV Cent per Bushel 1228.50 1192.50 -2.93
Maize CBOT SEPT Cent per Bushel 492.00 487.50 -0.91
CPO BMD SEPT MYR per MT 2218.00 2280.00 2.80
Sugar LIFFE OCT 10 cents per MT 497.80 488.30 -1.91
COMMODITY EXCHANGE CONTRACT 26.07.13 01.08.13 CHANGE%
ALUMINIUM LME 3 MONTHS 1795.00 1812.00 0.95
COPPER LME 3 MONTHS 6862.00 6999.00 2.00
LEAD LME 3 MONTHS 2050.00 2106.00 2.73
NICKEL LME 3 MONTHS 13850.00 13895.00 0.32
ZINC LME 3 MONTHS 1855.00 1854.50 -0.03
GOLD COMEX DEC 1321.90 1311.20 -0.81
SILVER COMEX SEPT 19.77 19.62 -0.74
LIGHT CRUDE OIL NYMEX SEPT 104.70 107.89 3.05
NATURAL GAS NYMEX SEPT 3.56 3.39 -4.94
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
Monsoon has a strong hold on India's agricultural output. Majority of the crops in India are dependent on the monsoon. The vast majority of the rural population depends on agricultural production.
The south west monsoon rains, which India receives during the four months of the year (June to September), have been mostly above average in major crop growing areas. Thus, it will be a large impact on the crops, which are totally dependent on the rainfall. Heavy rains in pockets of south and western regions, which had a drought last year; meant higher acreage is planted this year with crops such as rice, corn, pulses, soybean and cotton. India gets nearly 53% of its agricultural produce during June-September (Kharif season) period.
IMD Data
Monsoon rains have been the wettest in 19 years at the midway point of the four-month season. From June 1 to July 31, the country received 528.1 mm of rainfall, which is 17% more than the average of 453 mm, data from the Indian Metrological department (IMD) showed. In July, the country received 311.8 mm rainfall, which is around 7.5% above normal. According to IMD, 86% of the country has received normal or excess seasonal rainfall. Only Eastern and northeastern regions have received much lower rainfall than average.
Impact on crop acreage
• The above average rains have boosted sowing across the country and reducing farmers' dependence on electricity and diesel for irrigation.
• According to Agriculture Ministry the acreage under kharif sown as on July 26, are up by over 17.7% to 747.78 lakh hectares compared to 635.05 lakh hectares in the corresponding period during the last year.
• The acreage under paddy is up 8.58 per cent at 196.38 lakh hectares as on July 26 from 184.24 lakh hectares during same period of last year.
• The Area sown for coarse cereals has increased to 148.82 lakh hectares from 117.48 lakh hectares in the corresponding period during the last year
• the total sowing acreage of maize as on 26th July 2013 reported at 71.10 lakh hectares against 57.15 lakh hectares in the same time last year. This is mainly due to strong sowing in Andhra Pradesh, Uttar Pradesh and Rajasthan.
• The sowing area for kharif pulses crop 2013-14 surged to 73.62 lakh hectares 84 per cent more than 39.52 lakh hectares in the same period of last year.
• The oilseed acreage is up by 28.85 per cent so far, with key producing States such as Gujarat, Karnataka, Andhra Pradesh, Madhya Pradesh and Maharashtra reporting higher area.
®
-2.92
-2.90
-2.50
-1.78
-1.00
-0.67
-0.35
-0.26
-0.11
0.00
0.00
0.18
0.83
1.13
1.18
1.44
1.66
1.79
2.02
3.37
4.42
-4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00
TURMERIC (NIZAMABAD)
MENTHA OIL (CHANDAUSI)
CORIANDER (KOTA)
MASOOR (INDORE)
GUR (MUZAFFARNGR.)
RAW JUTE (KOLKATA)
CHILLI (GUNTUR)
BARLEY (JAIPUR)
JEERA (UNJHA)
MILD STEEL INGOTS (GHAZIABAD)
WHEAT (DELHI)
RUBBER (KOCHI)
PEPPER MALABAR GAR (KOCHI)
CHANA (DELHI)
SILVER (DELHI)
CRUDE PALM OIL (KANDLA)
CARDAMOM (VANDANMEDU)
REFINED SOYA OIL (INDORE)
MUSTARD (JAIPUR)
GOLD KG (MUMBAI)
SOYABEAN (INDORE)
Kharif Sowing(as on 26th July,2013) (in lakh ha)
Crops 2013 2012 change
Rice 196.38 184.24 12.14
Coarse cereals 148.82 117.48 31.34
Pulses 73.62 39.52 34.10
Oilseeds 167.15 138.30 28.85
Sugarcane 48.48 50.04 -1.56
Cotton 105.06 97.24 7.82
Source: Agriculture Ministry
• Acreage under groundnut is up by 9.37 lakh ha to 34.83 lakh ha against 25.45 lakh ha in the corresponding period last year.
• The area under soya bean is up by 15.57% to 117.3 lakh ha against last year's 101.54 lakh ha. Other oilseeds like sunflower and sesamum have also reported to higher area.
• According to the Ministry of Agriculture, the sowing area for cash crop cotton in 2013-14 surged to 105.06 lakh hectares from 97.24 lakh hectares.
• The sowing area for kharif sugarcane crop 2013-14 surged to 48.48 lakh hectares from 50.04 lakh hectares.
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 59.14 61.55 59.04 60.73
EUR/INR 78.36 81.64 78.36 80.37
GBP/INR 90.96 93.77 90.95 92.58
JPY/INR 60.35 62.91 59.90 61.50
(Source: FX Central, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
News Flows of last week
31st July: U.S. private employers added 200,000 jobs in July
31st July: U.S. labor costs rose in the second quarter
31st July: U.S GDP grew 2.8 percent in 2012, faster than earlier reported
01st Aug: U.S. manufacturing grew in July at its quickest pace in four months
01st Aug: U.S Construction spending unexpectedly fell in June
01st Aug: Manufacturing growth at the highest level in two years in July: ISM
01st Aug: Fed balance sheet shrank for the first time in nine weeks
EUR/INR (AUGUST) contract closed at 80.37 on 01st August'13. The contract made its high of ̀ 81.64 on 31st July'13 and a low of ̀ 78.36 on 29th July'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 79.35.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 67.19. One can buy around 80.20 for a target of 81.35 with the stop loss of 79.60
`
JPY/INR (AUGUST) contract closed at 61.50 on 01st August'13. The contract made
its high of `62.91 on 31stJuly'13 and a low of `59.90 on 29thJuly'13 (Weekly Basis).
The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 60.72.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 58.05.
One can buy around 60.75 for a target of 61.80 with the stop loss of ̀ 60.20.
`
Market Stance
In the week gone by, rupee reverses all its gains made during last three week
after steps taken by RBI and SEBI to curb the volatility in the local currency. The
rupee, which touched its lifetime low to the dollar on July 8, has been the worst
performer in emerging Asia so far this year. The currency depreciated on the
back of cut in the growth forecast for the current fiscal year by the Reserve Bank
of India (RBI). Adding to that, RBI governor D Subbarao, left foreign exchange
markets in a tizzy by stating that he did not favour a sovereign bond issue and
that RBI will not stand in the way of a falling except to curb volatility. In coming
week, we expect that rupee may remain under pressure on back of gains in dollar
index in overseas market along with the weak domestic factors.
EUR/INR
USD/INR (AUGUST) contract closed at 60.73 on 01st August'13. The contract made its high of ̀ 61.55 on 31st July'13 and a low of ̀ 59.04 on 29thJuly'13 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 60.13.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 62.58. One can buy around 60.65 for a target of 61.65 with the stop loss of 60.10.
`
GBP/INR (AUGUST) contract closed at 92.58 on 01st August'13. The contract made
its high of ̀ 93.77 on 31stJuly'13 and a low of ̀ 90.95 on 29th July'13 (Weekly Basis).
The 14-day Exponential Moving Average of the GBP/INR is currently at ̀ 91.70.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 58.80.
One can buy around 92.25 for a target of ̀ 93.25 with the stop loss of ̀ 91.70.
`
USD/INRTechnical Recommendation
GBP/INR JPY/INR
14
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Economic gauge for the next week
Date Currency Event PREVIOUS05th Aug: EUR Markit PMI Composite 48.705th Aug: EUR Markit Services PMI 48.305th Aug: GBP Markit Services PMI 56.905th Aug: EUR Sentix Investor Confidence -12.605th Aug: EUR Retail Sales (YoY) -0.10%06th Aug: GBP Industrial Production (YoY) -2.30%06th Aug: GBP Manufacturing Production (YoY) -2.90%06th Aug: GBP NIESR GDP Estimate (3M) 0.60%07th Aug: GBP Bank of England Quarterly Inflation Report07th Aug: JPY Machinery Orders (YoY) 16.50%07th Aug: JPY Trade Balance - BOP Basis ¥-906.7B08th Aug: JPY BoJ Interest Rate Decision 0.10%08th Aug: EUR ECB Monthly Report09th Aug: JPY Consumer Confidence Index 44.309th Aug: JPY Machine Tool Orders (YoY) -12.40%
IPOIPO
INDIAN IPO NEWS
Trimax plans IPO, files DRHP with SEBI
As per the recent release Integrated IT services company Trimax IT Infrastructure & Services has filed the Draft Red Herring Prospectus (DRHP)
with the market regulator SEBI for a public issue of 13,050,000 equity shares of the face value of ̀ 10 each through book building process, within
a price band to be decided subsequently. The issue consists of a fresh issue of 6,050,000 Equity Shares and offer for sale of 7,000,000 Equity
Shares. SBI Capital Markets Limited and Anand Rathi Advisors Limited are the book running lead managers to the issue. The Company provides a
wide range of IT solutions and services including IT infrastructure services and turnkey solutions (coupled with on-site support across India),
data centre services and cloud computing services. The objects of the issue are to procurement of hardware, software and other equipment
and for general corporate purposes. The other objects of the issue also include creating a public trading market for the equity shares of our
company by listing them on BSE. The company believes that the listing of our equity shares will enhance its visibility and brand name and
enable to avail of future growth opportunities.
Neyveli Lignite Corporation share sale fully subscribed, govt gets about ̀ 350 cr
The government's 3.56 per cent stake sale offer in Neyveli Lignite Corporation (NLC) got fully subscribed to fetch around `350 crore to the
exchequer within an hour of opening of trade. The Centre was selling over 5.97 crore shares, or 3.56 per cent stake, in NLC through an
Institutional Placement Programme (IPP) at a price band of ̀ 58-60 a share. The issue received bids for over 6.12 crore shares as against 5.97
crore on offer as of 1100 hrs, as per data available on the BSE.
The government is also selling stake in State Trading Corporation (STC) and India Tourism Development Corporation Limited (ITDC)
The government is also selling stake in State Trading Corporation (STC) and India Tourism Development Corporation Limited (ITDC) through an
offer for sale, which would fetch ̀ 3,453 crore to the exchequer. While the base price for ITDC has been fixed at ̀ 70 apiece, that for STC has been
fixed at ̀ 74 apiece. While the sale of 5 per cent stake, or 42.88 crore shares, in ITDC would fetch over ̀ 3,000 crore, about ̀ 454 crore would come
from disinvestment of 1.02 per cent, or 6.13 crore shares in STC at the base price set by the government. Government currently holds 92.11 per
cent stake in ITDC and 91.02 per cent stake in STC. The stake sale would help the three companies meet the minimum 10 per cent public holding
norm of market regulator Securities and Exchange Board of India (SEBI). The government is required to bring down its stake in these two
companies to 90 per cent by August 8.
Fund raising via QIP declines 62% to ̀ 1066 crore in June: SEBI
Amid sluggish market conditions, fund raising by Indian companies through issue of shares to institutional investors plunged 62 per cent to
`1,066 crore in June. According to the latest data available with the market regulator Securities and Exchange Board of India (SEBI), funds
garnered by companies declined to ̀ 1,066 crore through the QIP route in June after touching a three-month high in May. This was 62 per cent
lower than ̀ 2,832 crore mopped up in May.
Just Dial service provider 4770.72 950.11 5-Jun-13 530.00 590.00 682.80 28.83
Repco Home Fin Finance 1577.93 270.39 1-Apr-13 172.00 165.00 253.85 47.59
V-Mart Retail Trading 305.14 123.00 20-Feb-13 210.00 216.00 169.90 -19.10
Bharti Infra. Telecom 28011.35 4533.60 28-Dec-12 220.00 200.00 148.30 -32.59
PC Jeweller Jewellary 1400.56 609.30 27-Dec-12 135.00 135.50 78.20 -42.07
CARE Rating Agency 1291.46 540.00 26-Dec-12 750.00 949.00 452.35 -39.69
Tara Jewels Jewellary 221.71 179.50 6-Dec-12 230.00 242.00 90.20 -60.78
VKS Projects Engineering 354.06 55.00 18-Jul-12 55.00 55.80 5.62 -89.78
Speciality Restaruants Restaurants 618.23 181.96 30-May-12 150.00 153.00 131.65 -12.23
T B Z Jewellary 1130.90 210.00 9-May-12 120.00 115.00 169.55 41.29
MT Educare Miscellaneous 340.72 99.00 12-Apr-12 80.00 86.05 85.65 7.06
Company Sector M.Cap(In Cr.) Issue Size(in Cr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)
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IPO TRACKER
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MUTUAL FUND
NEWS
Axis MF introduces Hybrid Fund - Series 6
Axis Mutual Fund has launched the New Fund Offer (NFO) of Axis Hybrid Fund - Series 6, a Close Ended income scheme. The NFO opens for subscription on July 25, 2013, and closes on August 8, 2013. No entry load or exit load will be applicable for the scheme. The investment objective of the scheme is to generate income by investing in high quality fixed income securities that are maturing on or before the maturity of the Scheme whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.
Tata MF introduces Fixed Maturity Plan Series 43 - Scheme B (1095 days maturity)
Tata Mutual Fund has launched the New Fund Offer (NFO) of Tata Fixed Maturity Plan Series 43- Scheme B (1095 days maturity), a close ended income scheme. The NFO opens for subscription on August 2, 2013, and closes on August 12, 2013. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000. The investment objective of the scheme is to generate income and / or capital appreciation by investing in wide range of Fixed Income Instruments having maturity in line with the maturity of the scheme. The maturity of all investments shall be equal to or less than the maturity of the scheme.
DSP Blackrock MF introduces FMP -Series 107 -12M
DSP Blackrock Mutual Fund has launched the New Fund Offer (NFO DSP Blackrock FMP - Series 107 -12M, a Close Ended income scheme. The NFO opens for subscription on Aug 2, 2013, and closes on Aug 6, 2013. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs. 5,000 and in multiples of Re. 1/- thereafter. The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
Birla Sun Life MF introduces Fixed Term Plan -- Series HI (367 days), a Close Ended income scheme
Birla Sun Life Mutual Fund has launched the New Fund Offer (NFO) Birla Sun Life Fixed Term Plan - Series HI (367 days), a Close Ended income scheme. The NFO opens for subscription on Aug 2, 2013, and closes on Aug 5, 2013. No entry load or exit load will be applicable for the scheme. The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
Axis Mutual Fund files offer document with SEBI
Axis Mutual Fund files offer document with SEBI to launch Axis Hybrid Fund Series - 8-10, a 1 to 5 years close-ended debt scheme. The New Fund Offer price is Rs 10 per unit. The investment objective of the scheme is to generate income by investing in high quality fixed income securities that are maturing on or before the maturity of the scheme whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.
JPMorgan India Mutual Fund files offer document with SEBI
JP Morgan Mutual Fund files offer document with SEBI to launch JPMorgan India Fixed Maturity Plan - series 23, 24 &25, a 1 month to 60 months close ended income schemes. The New Fund Offer price is Rs 10 per unit. The investment objective of the schemes is to generate income through investments in debt securities/money market instruments and government of India securities (“GOI securities”) maturing on or before the maturity date of the Scheme.
ICICI Prudential MF declares dividend under Maturity Plan Series 63-3 Years Plan K-Dividend Option
ICICI Prudential Mutual Fund has declared dividend under the ICICI Prudential Fixed Maturity Plan Series 63-3 Years Plan K-Dividend Option. The record date for dividend is Aug 5, 2013. The recommended rate of dividend will be Rs 0.05 per unit on the face value of Rs 10 per unit. The investment objective of the scheme is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the Plan under the Scheme. However, there can be no assurance that the investment objective of the Plan under the Scheme will be realized.
ICICI Prudential Dynamic Bond Fund declares revision in exit load under ICICI Prudential Dynamic Bond Fund
ICICI Prudential Mutual Fund has declared revision in exit load under ICICI Prudential Dynamic Bond Fund with effect from August 5, 2013. Accordingly, the revised exit load will be 0.5% of the applicable NAV if the amount sought to be redeemed or switched out, is invested for a period of up to 9 months from the date of allotment and nil if the amount sought to be redeemed or switched out, is invested for a period of more than 9 months from the date of allotment.
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29-Jul-2013 05-Aug-2013 Close-Ended Growth `5000/-DSP BlackRock Fixed Maturity Plan - Series 106 (3M) Direct Plan (G)
Dhawal DalalTo seek to generate returns and capital appreciation by investing in a portfolio of Debt and Money Market Securities. The Scheme will invest only in such securities which mature on or before the date of maturity of the Schemes.
31-Jul-2013 05-Aug-2013 Close-Ended Growth `5000/-Kotak Fixed Maturity Plan - 733 Days - Series 108 (G)
Mayank Prakash / Abhishek Bisen
To generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
NFOs WATCH
Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount
02-Aug-2013 05-Aug-2013 Close-Ended Growth `5000/-Birla Sun Life Fixed Term Plan - Series HI (367 Days) Direct Plan (G)
Kaustubh Gupta
To generate income by investing in a
portfolio of fixed income securities
maturing on or before the duration of the
Scheme.
30-Jul-2013 05-Aug-2013 Close-Ended Growth `5000/-BOI AXA Fixed Maturity Plan - Series 4 (225 Days) Direct Plan (G)
Alok SinghTo generate income by investing in a
portfolio of fixed income and money market
instruments maturing on or before the
maturity date of the Scheme.
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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
ICICI Prudential Service Industries Fund - G 21.78 30-Nov-2005 140.95 13.82 12.38 33.62 7.85 10.68 1.69 0.66 0.26 63.08 29.70 2.73 4.49
Axis Equity Fund - Growth 12.33 05-Jan-2010 547.42 -3.11 0.57 17.21 3.88 6.04 1.69 0.82 0.14 76.31 6.38 3.32 13.99
Birla Sun Life India GenNext Fund - G 30.67 05-Aug-2005 150.15 -3.00 -3.34 17.11 9.44 15.05 1.76 0.74 0.15 47.48 44.26 4.45 3.82
Tata Ethical Fund - Plan A - Growth 74.02 24-May-1996 103.22 2.37 -0.65 15.03 5.11 16.16 1.26 0.49 0.14 65.47 25.81 N.A 8.72
BNP Paribas Equity Fund - Growth 39.12 23-Sep-2004 119.26 -1.27 -2.59 13.06 6.37 16.64 1.54 0.71 0.08 77.96 18.14 N.A 3.91
Reliance NRI Equity Fund - Growth 41.92 16-Nov-2004 84.84 -4.45 -6.30 12.17 2.87 17.84 1.93 0.89 0.04 81.47 9.77 N.A 8.75
Axis Focused 25 Fund - Growth 11.18 29-Jun-2012 141.48 -5.36 -7.07 12.14 N.A 10.77 1.72 0.81 0.04 78.62 15.69 N.A 5.69
EQUITY (Diversified)
BALANCED
INCOME FUND
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 01/08/2013Beta, 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 54.96 09-Oct-1995 398.82 -1.91 -4.83 12.23 2.77 15.27 1.21 0.61 0.09 31.54 36.35 7.2424.88
ICICI Prudential Balanced - Growth 54.03 03-Nov-1999 501.94 -2.72 -5.24 11.31 7.51 13.05 1.22 0.67 0.03 45.49 19.38 2.9132.22
FT India Balanced Fund - Growth 53.32 10-Dec-1999 206.99 -2.54 -4.14 7.99 4.32 13.04 1.28 0.73 -- 55.96 15.95 1.2326.87
Tata Balanced Fund - Plan A - Growth 94.01 08-Oct-1995 545.88 -2.72 -4.24 6.57 5.53 15.38 1.41 0.79 0.01 53.76 19.38 0.6726.19
Birla Sun Life 95 - Growth 327.76 10-Feb-1995 585.45 -5.22 -6.65 6.41 2.9 20.78 1.41 0.82 -0.01 56.71 13.20 0.4329.66
UTI Balanced Fund - Growth 82.1 20-Jan-1995 913.59 -4.83 -6.91 5.65 1.62 15.65 1.29 0.74 -0.04 50.04 19.12 0.6230.22
Canara Robeco Balance - Growth 66.54 01-Feb-1993 200.2 -3.9 -6.81 3.03 3.84 9.88 1.28 0.73 -0.05 47.22 18.19 2.9231.66
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch AUM Since Std. SharpeMaturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Morgan Stanley Active Bond Fund - Reg - G 12.59 03-Jun-2009 411.42 21.08 -0.66 -15.91 10.02 12.09 7.52 5.69 24.93 0.14 1152 7.95
IDFC SSIF - Invt. Plan - Plan F - Growth 13.03 16-Jul-2010 2480.44 20.45 1.48 -14.21 7.67 10.78 9.39 9.07 19.2 0.18 1369 8.2
IDFC SSIF - Invt Plan - Reg - Growth 28.94 14-Jul-2000 2480.44 20.46 1.49 -14.21 7.37 10.55 8.8 8.48 18.95 0.17 1369 8.2
Templeton India IBA - Growth 40.85 23-Jun-1997 1372.28 22.71 2.8 -18.57 8.47 10.45 9.78 9.12 20.01 0.17 1018 8.71
IDFC D B F- Plan A - Growth 24.14 25-Jun-2002 6885.78 20.01 0.66 -14.89 7.12 10.34 9.59 8.26 19.04 0.16 1351 8.2
Templeton India IBA - Plan B - Growth 40.61 23-Jun-1997 1372.28 -9.29 -13.45 -25.5 7.28 9.83 9.57 9.09 20.01 0.17 1018 8.71
UTI Bond Fund - Growth 35.52 04-May-1998 2968.61 15.69 -14.1 -25.44 4.78 9.78 9.43 8.66 23.04 0.1 1859 --
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.
Birla Sun Life Medium Term Plan - Reg - G 14.15 25-Mar-2009 825.96 6.20 -6.93 -13.18 8.76 9.16 9.49 8.29 12.48 0.24 N.A 9.98
Birla Sun Life Short Term Opportunities Fund - Reg - G 19.14 24-Apr-2003 675.56 8.21 -5.57 -10.40 8.68 9.51 9.52 6.52 11.36 0.28 N.A 9.69
Morgan Stanley Short Term Bond Fund - Reg - G 13.51 26-May-2009 431.16 9.47 -4.49 -10.04 7.00 8.33 8.46 7.54 10.13 0.15 524.00 9.21
Tata Short Term Bond Fund - Plan A - G 22.01 08-Aug-2002 270.97 6.55 -8.32 -12.42 6.39 8.11 8.02 7.44 9.56 0.13 500.00 8.49
Templeton India STIP - Growth 2392.28 31-Jan-2002 6306.13 10.20 -7.38 -15.17 6.19 8.26 8.31 7.87 10.92 0.14 839.00 10.16
Canara Robeco Short Term Fund - Reg - G 13.66 31-Mar-2009 444.78 12.55 -2.04 -9.67 6.14 7.71 8.18 7.45 8.42 0.09 712.00 8.33
JPMorgan India Short Term Income Fund - G 13.03 25-Mar-2010 1282.78 8.29 -5.29 -6.80 6.14 8.03 8.51 8.22 6.97 0.20 768.00 8.73
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.
Templeton India Ultra Short Bond Fund - Retail - G 15.35 18-Dec-2007 4477.75 11.98 2.46 3.42 8.12 8.57 8.73 7.92 2.84 0.51 106.00 8.67
Union KBC Ultra Short Term Debt Fund - G 1114.59 24-Apr-2012 209.08 12.53 4.79 4.50 8.10 8.55 N.A 8.91 2.54 0.59 94.00 N.A
Templeton India Low Duration Fund - G 13.03 26-Jul-2010 2367.30 13.36 -0.36 1.05 8.09 8.81 9.17 9.15 4.12 0.42 113.00 8.69
Principal Debt Opportunities Fund - Conservative - G 1909.22 14-Sep-2004 313.06 13.05 3.58 3.24 7.92 8.60 8.80 7.55 2.73 0.56 149.00 8.59
IDFC Ultra Short Term Fund - Reg - G 16.70 17-Jan-2006 1974.22 12.45 0.92 1.38 7.90 8.60 9.15 7.04 3.88 0.46 127.00 8.37
UTI Treasury Advantage Fund - Reg - G 3029.81 12-Jul-1999 9965.58 10.60 3.70 3.41 7.87 8.30 8.44 8.20 2.43 0.50 137.00 N.A
Tata Floater Fund - Plan A - Growth 1799.65 06-Sep-2005 3599.26 12.14 3.01 1.55 7.77 8.42 8.79 7.71 3.15 0.44 133.00 8.37
Annualised
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Felicitation of Dealer Scheme winners for the month of June 2013 at the Kolkata Branch of SMC.
Mr. Subhash C Aggarwal during conference on Economic Diplomacy organized by ASSOCHAM at New Delhi.
Mr S C Aggarwal (CMD, SMC Group) addressing the audience during the 6th National Summit on
'Regulatory Issues and Clearances for Real Estate Sector' organised by ASSOCHAM at New Delhi.
Mr. S C Aggarwal, CMD,
SMC Group along with (left)
Mr. Rajnath Singh, President,
Bhartiya Janta Party and with
(right) Mr. Uddhav Thackeray,
Chief, Shiv Sena during the
92nd Annual Session
of ASSOCHAM held at
New Delhi.
