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WISE M NEY
Bra
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21
A Weekly Update from SMC(For private circulation only)2013: Issue 398, Week: 25th - 28th November
(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
Research Executive Sonia Bamba
REGISTERED OFFICES:
11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.
Tel: 91-11-30111000, Fax: 91-11-25754365
MUMBAI OFFICE:
Dheeraj Sagar, 1st Floor, Opp. Goregaon sports Club, Link Road
Malad (West), Mumbai 400064
Tel: 91-22-67341600, Fax: 91-22-28805606
KOLKATA OFFICE:
18,Rabindra Sarani, Poddar Court, Gate No-4, 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:
Salzburg Square, Flat No.1, III rd Floor, Door No.107, Harrington Road,
Chetpet, Chennai - 600031.
Tel: 044-39109100, Fax -044- 39109111
SECUNDERABAD OFFICE:
206, 3rd Floor, above CMR Exclusive, Bhuvana Towers, S.D.Road,
Secunderabad - 500003
Tel: 91-40-30780298/99, 39109536
DUBAI OFFICE:
312, Belshalat Building, Al Karama, Dubai, P.O. Box 117210, U.A.E.
Tel: 97143963120, Mobile : 971502612483
Fax : 9714 3963122
Email ID : [email protected]
Printed and Published on behalf of
Mr. Saurabh Jain @ Publication Address
11/6B, Shanti Chamber, Pusa Road, New Delhi-110005
Website: www.smcindiaonline.com
Investor Grievance : [email protected]
Printed at: S&S MARKETING
102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Ph.: +91-11- 43035012, 43035014, Email: [email protected]
lobal markets are trading at their highest level driven by loose monetary
policies adopted by the central banks. However investors have become Gcautious in their approach as the world's largest economy is on the
recovery path and the policy makers may start unwinding its unconventional
policy of asset purchase. Though the trading, during the week going by, started
on a positive note led by dovish statement by the Federal Reserve chairman
nominee Janet Yellen and rift of economic reform measures announced by the
china policy maker but the minutes on FOMC October meeting ignited the
sentiment that FED would soon start tapering its asset purchase program in early
2014. Meanwhile the Bank of Japan (BOJ) in its policy meeting on 21st November,
pledge to expand the monetary base by as much as 70 trillion yen a year. It also
said inflation will hit the BOJ's 2 percent target in the latter half of the central
bank's two-year time frame and policy makers will adjust its bond-buying
program as needed. The data flow from euro region continues to indicate that its
economy is recovering; however the growth is very fragile.
Back at home, investor's sentiment weakened on worries relating to both global
and domestic factors. On the one hand, investors feared of reduction in liquidity
provided by U.S. Federal reserve and on the other hand expectation of further
rise in inflation in India on statement of petroleum minister to deregulate diesel
prices in the next six months. Increase in inflation would act as an impediment to
the Reserve Bank of India in following loose monetary policy. Going forward
investors would closely watch economic data such as pending home sales,
housing starts, jobless claims flowing from U.S. India economic growth data for
the quarter ended September would also be released on 29th November. Indian
economic expansion in the second quarter came at mere 4.4% YoY, the slowest
growth in last four years.
Sharp movements witnessed in some commodities in the week gone by. After
trading in a range for many weeks, finally gold broke it strong support of $1250. In
long term it may touch the support of $1180 whereas $19 is a very strong support
for silver in COMEX. Market participants believe that 'tapering' may occur sooner
rather than later. So inflow should increase in dollar index rather than gold. After
witnessing steady fall in crude oil prices, it may witness some lower level buying.
Base metals complex may trade in range with some buying seen at current levels.
Statement of Draghi that policy makers considered the risks of keeping interest
rates low for an extended period may also support the upside in commodities in
near term. Some key events and data may inject some wild swings in the prices of
commodities, some of them are: Consumer Confidence and Durable Goods Orders
of US, GDP of UK, Canada and Switzerland, Unemployment rate of Germany,
Consumer Price Index of Germany and Japan etc.
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 20229 UP 12.09.13 19317 20200 19800 19400
S&P NIFTY 5999 UP 12.09.13 5728 5850 5750 5780
CNX IT 8767 UP 18.07.13 7306 8500 8200 8000
CNX BANK 10707 UP 19.09.13 11149 10700 10400 10100
ACC 1030 DOWN 13.11.13 1041 1080 1100 1120
BHARTIAIRTEL 339 UP 12.09.13 329 340 330 320
BHEL 137 UP 05.09.13 138 135 130 125
CIPLA 387 DOWN 21.11.13 387 405 410 415
DLF 145 DOWN 26.09.13 136 150 160 165
HINDALCO 120 UP 29.08.13 107 110 105 100
ICICI BANK 1030 UP 12.09.13 951 1060 1020 1000
INFOSYS 3344 UP 18.07.13 2800 3200 3070 3020
ITC 313 DOWN 13.11.13 314 330 336 340
L&T 948 UP 19.09.13 888 880 850 830
MARUTI 1647 UP 19.09.13 1480 1550 1500 1470
NTPC 150 UP 26.09.13 150 145 140 135
ONGC 270 UP 31.10.13 294 280 270 265
RELIANCE 848 UP 12.09.13 875 850 840 830
TATASTEEL 383 UP 22.08.13 274 345 330 310
NEWS
DOMESTIC NEWS
Economy
•Indian Finance Minister Palaniappan Chidambaram said inflation will moderate to below 5% as prices of major commodities stabilize and on account of steps taken by the government and the Reserve Bank of India (RBI), including increases in the policy rate.
Information Technology
•Zensar Technologies has launched an end-to-end suite of Multivendor Support Service (MWS) Offerings, which will help enterprise customers accelerate how they monitor, identify and remedy issues in server, storage and networking environments.
Capital Goods
•BHEL has bagged a ̀ 1,300 crore order from NTPC for supplying equipment
to the electricity generator's Unchahar plant in Uttar Pradesh besides installation work.
•Techno Electric & Engineering Company has acquired Patran Transmission Company from PFC Consulting upon being successful in the tariff-based competitive bidding process to develop independent transmission system for Patron 400 kV S/S.
•Suzlon Group has launched its new offshore turbine, the REpower 6.2M152. With the new offering, the company once again sets standards in the cost-effective generation of offshore wind energy. The larger rotor diameter compared to the last generation- the REpower 6.2M126 achieves an increase in energy yield upto 20% at wind speeds of 9.5m/s. With a rated power of 6.15 MW, each REpower 6.2M152 can supply around 4000 homes with electricity.
Pharmaceuticals
•Cadila Pharmaceuticals Limited has launched the Mycidac-C, an affordable, unique and innovative drug for the treatment of lung cancer. The drug will be available in the Indian market by December 2013.
•Venus Remedies has got approval for its product 'meropenem' in the Gulf with marketing authorisation from the Saudi Food and Drug Authority (SFDA).
Power
•Tata Power has commissioned additional transmission lines in Maharashtra. The transmission line will relieve critical loading of the Kalwa-Salsette lines and will enhance transmission for bringing power from outside to Mumbai city.
•Reliance Infrastructure has commissioned a power transmission line in Maharashtra. The 311 kms Pune-Parli line is part of the Western Region System Strengthening Scheme project and will connect key industrial centres of Maharashtra like Pune, Aurangabad and Beed.
Engineering
•Shriram EPC Ltd, service providers of integrated design, engineering, procurement and construction has bagged multiple orders worth ̀ 214 crore.
Tyre
•JK Tyre & Industries will invest `1,430 crore to ramp up capacity at its
Chennai manufacturing facility which makes radial tyres for trucks, buses and cars.
INTERNATIONAL NEWS
•US existing home sales fell 3.2% to an annual rate of 5.12 million units in October after sliding 1.9 % to an annual rate of 5.29 million units in September. Economists had expected sales to drop to an annual rate of 5.13 million units.
•US business inventories increased by 0.6% in September after rising by 0.4% in August. Economists had expected inventories to increase by about 0.3%. Retail inventories jumped by 0.9%, while inventories at both manufacturers and merchant wholesalers rose by 0.4%.
•US retail sales rose by 0.4% in October, while economists had expected sales to inch up by 0.1%. Revised data showed that sales were unchanged in September compared to the 0.1% drop originally reported for the month.
•US producer price index dipped by 0.2% in October after edging down by 0.1% in September. The drop by the index matched economist estimates. The decrease by producer prices was largely due to sharply lower energy prices, which tumbled 1.5% in October following a 0.5% increase in September.
•US initial jobless claims dropped to 323,000, a decrease of 21,000 from the previous week's revised figure of 344,000. Economists had been expecting initial jobless claims to dip to 335,000 from the 339,000 originally reported for the previous week.
EX-DATE SYMBOL PURPOSE
25-NOV-13 MANAPPURAM INTERIM DIVIDEND - `0.45
25-NOV-13 DCM INTERIM DIVIDEND - `1.50/- PER SHARE
25-NOV-13 CARE 2ND INTERIM DIVIDEND - `6.00
26-NOV-13 BALLARPUR DIVIDEND `0.30 PER SHARE
28-NOV-13 GABRIEL INTERIM DIVIDEND `0.35 PER SHARE
4-DEC-13 FEDDERLOYD DIVIDEND - `1/- PER SHARE
9-DEC-13 COLPAL SECOND INTERIM DIVIDEND
10-DEC-13 ONGC INTERIM DIVIDEND
19-DEC-13 EDL DIVIDEND - `1/- PER SHARE
BOARD MEETING SYMBOL PURPOSE
25-NOV-13 AUTOAXLES RESULTS/DIVIDEND
26-NOV-13 CAIRN BUYBACK
27-NOV-13 WALCHANNAG RESULTS/DIVIDEND
27-NOV-13 DWARKESH RESULTS
28-NOV-13 MRF RESULTS/DIVIDEND
29-NOV-13 FINANTECH RESULTS/DIVIDEND
29-NOV-13 ZENITHINFO RESULTS/DIVIDEND
29-NOV-13 ORCHIDCHEM RESULTS
29-NOV-13 COLPAL DIVIDEND
29-NOV-13 BARTRONICS RESULTS
29-NOV-13 HELIOSMATH RESULTS/DIVIDEND
29-NOV-13 AMTEKAUTO RESULTS/DIVIDEND
29-NOV-13 AMTEKINDIA RESULTS/DIVIDEND
5-DEC-13 MPHASIS RESULTS/DIVIDEND
6-DEC-13 ONGC DIVIDEND
FORTHCOMING EVENTS
®
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)
®
892.10968.30
107.00
-7.40
-210.70
-79.10
-400.00
-200.00
0.00
200.00
400.00
600.00
800.00
1000.00
1200.00
Friday Monday Tuesday Wednesday Thursday
FII Activity MF Activity
3.69
2.822.43 2.19 1.96
-6.12
-4.80-4.16
-2.98-2.40
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
Hindalco Inds.
Jindal Steel Maruti Suzuki
St Bk of India Tata Steel Sesa Sterlite Bajaj Auto Cipla Sun Pharma.Inds.
Hero Motocorp
3.73
3.002.53 2.31 2.13
-6.05
-5.01
-4.06 -3.79
-3.03
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
Hindalco Inds.
Jindal Steel JP Associates St Bk of India Maruti Suzuki Sesa Sterlite Bajaj Auto Cipla B P C L Ambuja Cem.
0.34
0.59
-0.94-0.84
-1.17
-0.82
-1.40
-1.20
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Junior S&P CNX 500
-0.76-0.85
-2.89
-0.73
-2.01
-1.01
-0.56-0.43
-0.84
0.83
1.13
-3.50
-3.00
-2.50
-2.00
-1.50
-1.00
-0.50
0.00
0.50
1.00
1.50
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
0.30
1.32
2.38
3.27
-0.42
-0.13
-0.90
-0.18
-0.89
-1.50
-1.00
-0.50
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
Beat the street - Fundamental Analysis
6
® Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline
CROMPTON GREAVES LIMITED CMP: 108.50 Upside: 27%Target Price: 138
Face Value (`) 2.00
52 Week High/Low 125.85/71.70
M.Cap (` Cr.) 6960.28
EPS (`) 7.38
P/E Ratio (times) 14.70
P/B Ratio (times) 2.29
Dividend Yield (%) 1.11
Stock Exchange BSE
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale •During the FY13, the company has acquired 100% of ZIV, a global leader in the high value Smart Grid and •Crompton Greaves (CG) is a global pioneering Automation Solutions segments for Industrial and leader in the management and application of utilities companies. This acquisition expands the electrical energy. With more than 15,000 CG portfolio for power system automation and employees across its operations in around 85 protection and creates a strong platform for CG in countries, CG provides electrical products, systems the smart grid arena.and services for utilities, power generation,
industries, and consumers. The company is •Company maintains its FY14 revenue guidance of 8-organized into three business groups: Power, 10% given at the start of the current fiscal.Industrial, and Consumer. Valuation
•Order intake of CG Global for the quarter ended With a unique combination of businesses, the Sep 2013 stood at `2260 crore with India company is well poised to capitalise on future global accounting `786 crore and non India being `1464 growth opportunities. Going forward, the company is crore. Order Backlog of CG Global as ended of Sep expected to register a healthy sales growth, 2013 stood at ̀ 9743 crore and of which Indian order supported by strong order backlog. On the estimated backlog was ̀ 3970 crore and non India was at ̀ 5773 September FY15E EPS of `8.09 and three year crore. average P/Ex of 17.05x, we expect the stock to see a
price target of 138 in one year time frame.•The Company has acquired the Compact Fluorescent Lamps (CFL) business of Karma Industries at Baddi (Himachal Pradesh), for an approximate value of `145 million (aprox 14.5 Crore). The acquisition will double the Company's capacity in the fast-growing CFL lighting segment and reinforce its presence in the rapidly growing Indian consumer market.
•The Company entered into a Joint Venture Agreement with PT Prima Layanan Nasional Enjinring (PLNE) of Indonesia, for the manufacture of high voltage (HV) and extra high voltage (EHV) switchgear ranging from 70kV to 500kV in Indonesia. The Joint Venture will be owned 51% by CG and 49% by PLNE.
` in cr
Actual Estimate
FY Mar-13 FY Mar-14 FY Mar-15
Revenue 12094.40 13350.30 14620.80EBITDA 383.20 745.10 993.00EBIT 180.20 542.60 743.40Pre-tax Profit 184.80 519.60 725.80Net Profit 84.57 316.50 516.30EPS 1.31 5.19 8.09BVPS 55.52 59.24 65.41ROE 2.40 8.30 12.90
P/BV Chart
Face Value (`) 2.00
52 Week High/Low 105.40/56.00
M.Cap (` Cr.) 1227.60
EPS (`) 7.70
P/E Ratio (times) 10.39
P/B Ratio (times) 0.63
Dividend Yield (%) 1.88
Stock Exchange BSE
` in cr
Actual Estimate
FY Mar-13 FY Mar-14 FY Mar-15
Revenue 6085.00 7036.30 7861.90EBITDA 474.50 593.20 695.90EBIT 352.10 481.00 571.90Operating Profit 540.40 3593.00 4134.40Pre-tax Profit 194.00 264.30 335.60Net Profit 129.50 175.40 220.50EPS 8.44 11.53 14.84BVPS 126.89 142.36 155.41ROE 6.80 9.10 10.30
% OF SHARE HOLDING
Investment Rationale •Capex on consolidated level for FY14 is expected to be about ̀ 150 crore with about ̀ 50-60 crore in •Kalpataru Power Transmission Limited (KPTL) is a KPTL, `40-50 crore in JMC Projects, `40-50 crore specialized engineering, procurement and in SSLL (Shree Shubham Logistics Ltd) - subsidiary construction (EPC) company engaged in power of the company.transmission & distribution, oil & gas pipeline,
railways, infrastructure development, civil •Net profit of the company rose 16.77% to `30.99 contracting and warehousing & logistics business crore in the quarter ended September 2013 as with a strong international presence in power against `26.54 crore during the previous quarter transmission & distribution. The company expects ended September 2012. Sales rose 33.95% to a sales growth of 20% plus for FY14 and a sales `945.36 crore in the quarter ended September growth of 15-20% for FY15. Core EBITDA margin 2013 as against `705.78 crore during the previous will be maintained in the range of 10%. quarter ended September 2012.
•Consolidated order book as end of Sep 30, 2013 was Valuation`12000 crore and of which KPTL's was `6700 crore The company has exhibited a solid performance with and that of JMC Project's was `5300 crore. Of the strong order inflows, achieved revenue growth of total Transmission & Distribution (T&D) order book, over 30% with improved margins. On the estimated about 60% is from international markets and the September FY15E EPS of ̀ 14.84 and two year average remaining 40% is from domestic markets. In line with P/Ex of 7.45x, we expect the stock to see a price the companies globalization strategy, the target of 111 in one year time frame. international business has grown significantly and now accounts for 50% of the revenue.
•The Company, over the last few years, has geographically diversified into 37 countries, which reduces dependency on one market or country.
•In FY13, Company has commenced commercial production at its Greenfield state-of-the-art facility at Raipur, Chhattisgarh, to annually manufacture 55,000 MT of power transmission towers. With this expansion, the Company's total production capacity has reached over 180,000 MT and the company has become one of the largest tower manufacturing Company of the world.
P/E Chart
KALPATARU POWER TRANSMISSION LIMITED CMP: 80.00 Upside: 38%Target Price: 111VALUE PARAMETERS
18.02
24.46
5.17
42.47
9.87
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
10.51
23.37
0.99
59.45
5.68 Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
Charts by Spider Software India Ltd
7
The stock closed at `327.70 on 22nd November 2013. It made a 52-week low at
`267.70 on 28th March 2013 and a 52-week high at `349 on 22nd January 2013.
The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart
is currently at ̀ 301.45.
It has formed a sort of flag formation which is bullish in nature so in the near term
breakout is expected from this major weekly consolidation which will help it to
reach our desired targets. One can buy 324-326 levels with closing below stop
loss of 317 levels for the target of 340-345 levels.
EQUITY
Above calls are recommended with a time horizon of 1-2 months
The stock closed at 106.50 on 22nd November 2013. It made a 52-week low at
`83.55 on 27th June 2013 and a 52-week high at `119.40 on 18th December
2012. The 200 days Exponential Moving Average (EMA) of the stock on the weekly
chart is currently at ̀ 110.30.
Being from defensive sector, it rebounded sharply last week. Moreover, it has
formed Inverted head and shoulder and is near to its breakout levels. One can
buy in the range of 103-104 levels with closing below stop loss of 97 levels for the
target of 115-120 levels.
`
The stock closed at 329.05 on 22nd November 2013. It made a 52-week low at
`272.20 on 28st August 2013 and a 52-week high of `395.85 on 18th January
2013. The 200 days Exponential Moving Average (EMA) of the stock on the weekly
chart is currently at ̀ 352.90.
After forming double bottom, it fell marginally due to its 200 EMA which acted as
a resistance but last week it closed on a positive note while other counters were
weak which shows that buying opportunity is building up at lower levels. One
can buy in the range of 326-328 levels with closing below stop loss of 314 levels
for the target of 345-350 levels.
`
CAIRN INDIA LIMITED
GAIL (INDIA) LIMITED
FORTIS HEALTHCARE LIMITED
®
DERIVATIVES
BASIS GAP IN NIFTY
The overall market cost-of-carry decreased throughout the week indicating long unwinding. Nifty future closed at a premium of 20 points indicating short build
up. Nifty is expected to remain in the range of 5800-6100 levels this week with negative bias. The options concentration continues to be at 6000-strike put option
with an open interest of above 55 lakh shares. This is followed by the 6200-strike call option with above 50 lakh shares. Above discussed option data indicates put
writing at 6000 strikes and call writing at 6200 strike. The PCR OI consolidated during the week and decreased by the weekend to 0.82. The implied volatility (IV)
of call options closed 20.31%. While the average IV of put options ended at 21.22%. The Nifty VIX increased during the week and closed at 20.15%. It is currently
trading above its 15-day EMA and is expected to rise from current levels. It has a strong support around 18 levels. Short term indicators are indicating downside
momentum to continue below 6000.The Index is likely to test the 5850 mark.
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)
AUROPHARMA (NOV FUTURE)
Buy: Around `281
Target: `287
Stop loss: `276
TATAMOTORSBuy NOV. 370 PUT 4.00Sell NOV. 360 PUT 1.50
Lot size: 1000BEP: 366.50Max. Profit: 6500.00 (6.50*1000)Max. Loss: 3500.00 (3.50*1000)
OPTIONSTRATEGY
FUTURESTRATEGY
GAILBuy NOV. 330. CALL 3.50
Lot size: 1000BEP: 333.50Max. Profit: UnlimitedMax. Loss: 3500.00 ( 3.50*1000)
RELINFRA (NOV FUTURE)
Sell: `398
Target: `388
Stop loss: `403
Below
SIEMENSBuy NOV. 580. CALL 10.00
Lot size: 500BEP: 590.00Max. Profit: UnlimitedMax. Loss: 5000.00 ( 10.00*500)
BULLISH STRATEGY
DERIVATIVE STRATEGIES
YESBANK (NOV FUTURE)
Sell: Below `340
Target: `330
Stop loss: `345
BEARISH STRATEGY
BUY26.9%
SELL73.1%
308.34
35.03
907.94
1102.25
362.59
-737.70
-270.55-117.82
-668.68-845.84-1000.00
-500.00
0.00
500.00
1000.00
1500.00
07-Nov 08-Nov 11-Nov 12-Nov 13-Nov 14-Nov 18-Nov 19-Nov 20-Nov 21-Nov
0
10
20
30
40
50
60
06-Nov 07-Nov 08-Nov 11-Nov 12-Nov 13-Nov 14-Nov 18-Nov 19-Nov 20-Nov 21-Nov
508550 546300 461200 380150403350
3181200
5052900
5499950
5982250
4599150
3489550
2329900
1106400
2715350 2680050
4463600
5740100
2839100
2009350
1009800
247700
631500
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
5500 5600 5700 5800 5900 6000 6100 6200 6300 6400 6500
Call Put
8
9
BHARTIARTL 9123000 8265000 -9.40 0.52 0.57 0.05 35.47 32.49 -2.98
DLF 27561000 27371000 -0.69 0.33 0.37 0.04 52.91 50.42 -2.49
HINDALCO 19974000 19036000 -4.70 0.39 0.58 0.19 36.12 42.45 6.33
HINDUNILVR 5416500 5129000 -5.31 0.68 0.60 -0.08 18.94 19.15 0.21
ICICIBANK 9568000 9723000 1.62 0.44 0.40 -0.04 36.67 33.82 -2.85
IDEA 9490000 7818000 -17.62 0.38 0.53 0.15 37.45 37.11 -0.34
INFY 2807750 2523625 -10.12 1.31 1.13 -0.18 18.17 19.14 0.97
ITC 22430000 18867000 -15.88 0.41 0.35 -0.06 22.30 24.62 2.32
JPASSOCIAT 46920000 46192000 -1.55 0.71 0.85 0.14 59.41 56.96 -2.45
NTPC 10628000 9584000 -9.82 0.29 0.26 -0.03 28.66 26.21 -2.45
ONGC 10756000 10053000 -6.54 0.36 0.35 -0.01 26.43 24.69 -1.74
RANBAXY 10831000 10339000 -4.54 0.58 0.63 0.05 57.89 41.73 -16.16
RCOM 37356000 36688000 -1.79 0.39 0.36 -0.03 45.00 46.36 1.36
RELIANCE 10817750 9617250 -11.10 0.34 0.37 0.03 22.20 23.78 1.58
NIFTY 17988100 15262550 -15.15 0.98 0.82 -0.16 17.50 20.31 2.81
SAIL 23516000 22544000 -4.13 0.61 0.69 0.08 40.19 39.16 -1.03
SBIN 6333625 5841250 -7.77 0.58 0.62 0.04 32.52 34.93 2.41
TATASTEEL 17521000 15605000 -10.94 1.12 1.38 0.26 37.11 39.03 1.92
UNITECH 85728000 82104000 -4.23 0.26 0.26 0.00 62.93 62.73 -0.20
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 0.82 from 0.98. 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 20.31% from 17.50%. The IV of the stock futures has changed this
week ranging from -16.16% to 6.33%.
Open Interest Analysis : The open interest for the index at the end of this week
has decreased by 15.15% as compared to the previous week. All future stocks saw
changes in their open interest ranging from -17.62% to 1.62%. IDEA has the
maximum decrease in open interest as compared to other stocks.
Statistical Analysis·
Open 6080.25 High 6240.00
Low 6018.50 Close 6018.50
NIFTY & IV CHART NIFTY ANALYSIS
®
16
17
18
19
20
21
6000
6100
6200
6300
6400
14-Nov 18-Nov 19-Nov 20-Nov
Nifty Close IV
10
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Bullion counter is expected to remain sideways with upside bias amid weak local currency. Local currency rupee can weaken towards 64. Gold may trade in range of $1200-1300 in COMEX and 29500-31500 in MCX. White metal silver can hover in range of 43500-46500. On domestic market there is supply crunch due to import restrictions imposed by Indian government. According to the All India Gems and Jewellery Trade Federation “Physical premiums have increased in India, reaching $120 an ounce above London prices last week, up from $80 in previous week”. Gold mining have seen surge in production activities recently as several large projects put into motion during gold's 12-year rally, which took it as high as $1,920 an ounce in 2011 are coming to fruition. Recently world's top three gold miners Barrick Gold, Newmont Mining and AngloGold Ashanti reported higher production in the most recent quarter. In the minutes of the Fed's Oct. 29-30 policy meeting showed that officials discussed how to distinguish between asset buying and forward interest rates guidance, including how to enhance rate guidance once they start to taper bond purchases. According to the World Gold Council, global gold demand fell to the lowest in four years in the third quarter and the 21 percent drop from the same quarter in 2012. China, the world's top gold producer, produced 37.642 tonnes of the precious metal in September, bringing total output in the first nine months of the year to 307.809 tonnes.
BULLIONS
After witnessing steady fall in Crude oil its prices may tend to witness some lower level buying as improvement in US economy and rise in oil demand can support the prices. According to Energy Information Administration data “U.S. fuel demand averaged over four weeks reached a five year high of 20.3 million barrels a day last week”. Four week average total fuel consumption increased 2.8 percent last week, a fourth consecutive gain. Demand for distillate fuels, a category that includes diesel and heating oil, jumped 6.4 percent and gasoline usage went up 0.4 percent. Recently Draghi comments also supported the prices higher. Draghi said in Berlin that policy makers considered the risks of keeping interest rates low for an extended period. Overall crude oil can move in range of 5800-6300 in MCX and $92-96 in NYMEX. Iran's oil output has decreased 16 percent since the U.S. and the European Union tightened sanctions in July 2012 to curb its nuclear program. Winter demand can assist Natural gas higher as it can test 245 in MCX. MDA Weather Services in Gaithersburg, Maryland, predicted colder-than normal weather in the eastern two-thirds of the U.S. through Dec. 5. Energy Information Administration reported a larger-than-expected withdrawal in U.S. inventories in the week ended November 15. Natural gas stockpiles fell by 45 billion cubic feet compared to projections for a 38 billion withdrawal. Cold weather increased electricity demand to power air conditioning calls for more supply of the fuel, which is used for a quarter of U.S. electricity generation.
ENERGY COMPLEX
Base metals complex may trade in range with some buying seen at current levels. Weakening local currency may cap the downside. Recently China's growth momentum softened a little in November, as the HSBC Flash China Manufacturing PMI moderated due to the weak new export orders and slowing pace of restocking activities. China's top leadership unveiled the boldest set of economic and social reforms in nearly three decades following a four day conclave recently, which are expected to give the world's second largest economy fresh drivers of growth. Red metal copper can trade in range of 435-460. According to the International Copper Study Group “Global copper demand is expected to grow 4.5 percent on the year in 2014, mostly due to demand for refined copper from China, the world's leading consumer of the metal”. China's production of copper surged by 23 percent in October to 637,958 tonnes and is up nearly 14 percent for the year. Zinc prices can hover in range of 115-122 in MCX. Nickel prices can trade in the range of 840-890 in MCX. From Q2 2011 until Q3 2013, production has increased by 10% yoy on average per quarter. Meanwhile, consumption has increased by only 7% yoy on average per quarter. Battery metal lead can move in range of 128-136. Aluminum can move in range of 107-113.Shipments of rolled aluminum products by Japanese fabricators expanded for a third month in September as the Bank of Japan's record stimulus boosted orders for houses and motor vehicles.
BASE METALS
Jeera futures (Dec) will possibly face resistance near 13000 levels. The hopes of a higher production of the Rabi crop could cap the upside. Sowing of jeera has gathered pace in Gujarat and a clear picture will be available in days to come. Meanwhile, total carryover stocks are currently estimated at 7 lakh bags against 10 bags last year. Turmeric futures (Dec) is expected to consolidate in the range of 4900-5300 levels. The fundamentals depict that traders and exporters at the spot markets have received reasonable orders from North India. On the contrary, carry forward stocks available in the domestic market may put pressure on prices at higher levels. There are around 40-42 lakh bags of stocks in the major producing states. These stocks can easily meet the total consumption of the domestic market for the next three months, i.e, around 12-14 lakh bags. Cardamom futures (Dec) is likely to trade range bound within 730-760 levels. On the demand side, upcountry exporters are buying the capsules for the upcoming wedding and winter season. The fundamentals on the supply side show that the third round of picking is coming to a close and from the next round onwards, arrival is expected to decline. The bullish trend may prevail in chilli futures pushed delayed supplies & strong demand of exporters. It is being reported that the cold conditions in major chilli growing areas in Madhya Pradesh such as Indore, Khandwa and Rajpura has delayed the supplies by more than 10-12 days in major mandies.
SPICES
OTHER COMMODITIES
Sugar futures (Dec) is expected to consolidate in the range of 2800-2860 levels. It is being assessed that all factories in Karnataka are expected to start crushing of cane by the end of next week. On the other hand, shutdown of mills in Uttar Pradesh due to agitation over fixation of cane price may delay cane crushing and reduce output as projected by the Indian Sugar Mills Association. Kapas futures (Apr) prevailing at multi-week low, is likely to fall further on supplies from the new season harvest and estimates of record crop amid slow demand for exports. The U.S Department of Agriculture (USDA) said in its latest report that India's cotton exports are expected to drop by 9% to 9 million bales in the 2013-14 marketing year on sluggish demand and high prices compared to the global market. An extended downfall may be seen in chana futures (Dec) due to increased supplies from the spot markets & hurt by the sentiments of higher sowing this season. The sowing of chana starts in October & the key growing areas have received ample rainfall, which is expected to smoothen the sowing process. Guar complex may witness consolidation with downside getting capped supported by lower arrivals in the spot markets. In the current scenario, farmers are not willing to sell their produce at present prices. Presently, all millers are running guar gum factories at their full capacity as reported. In the second week of November, the average crush margin stood at `276.66/qtl as compared to `187.71 /qtl. in the first week of the current month.
Mustard futures (Dec) is likely to witness an extended upside taking support above 3750 levels. At the spot market, Mustard ruled firm at ̀ 4,900-5,100 a quintal, while raida ruled at ̀ 3,300-3,350 a quintal. Meanwhile, mustard oil prices increased in mandis across Madhya Pradesh and Rajasthan. Soybean futures (Dec) is expected to remain stable holding above 3700 levels. The crop quality concerns may provide support to the counter restricting any sharp fall. Availability of sufficient crushable soybean supplies in the coming days is a concern for the market participants, which might give a positive tone to the soybean prices in the domestic market. On the demand side, Indian soymeal is competitively priced in the international market is about to enter the seasonally higher exports period. The Rupee hovering around 63 levels may add to the positive sentiments. The local currency remained weak as indications of an imminent tapering by the Federal Reserve strengthened the US currency. On CBOT, U.S soybean futures might witness a consolidation, pressurized by ongoing harvesting. Farmers are in the final stages of harvesting a record-large U.S. soybean crop on record. Meanwhile, sustained global demand for U.S. soybeans has capped the downside. Cumulative soybean sales stand at 89.9% of the USDA forecast for 2013/2014 current marketing year versus a 5 year average of 63.3%. Sales of just 96,000 tonnes are needed each week to reach the USDA forecast. CPO futures on MCX will possibly follow the uptrend of the Malaysian prices, which have reached to the highest level in more than a year. Heavy rains may disrupt harvesting and reduce production in Indonesia and Malaysia in November.
OIL AND OILSEEDS
Closing as on 21.11.2013
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 (DEC) 3907.00 10.10.13 UP 3681.00 3600.00 - 3300.00 - 3050.00
NCDEX JEERA (DEC) 12710.00 03.10.13 DOWN 12607.00 - 13000.00 13500.00 13700.00
NCDEX RED CHILLI (DEC) 7460.00 10.10.13 UP 6074.00 6400.00 - 6200.00 - 6000.00
NCDEX RM SEEDS (DEC) 3819.00 13.11.13 UP 3816.00 3500.00 - 3300.00 - 3100.00
MCX MENTHA OIL (DEC) 870.90 13.11.13 SIDEWAYS
MCX CARDAMOM (DEC) 744.00 28.02.13 DOWN 965.00 - 800.00 830.00 860.00
MCX SILVER (DEC) 45137.00 26.09.13 DOWN 48639.00 - 50000.00 54000.00 57000.00
MCX GOLD (DEC ) 30274.00 26.09.13 DOWN 29865.00 - 30700.00 31500.00 32000.00
MCX COPPER (NOV) 444.60 12.09.13 DOWN 459.25 - 460.00 - 480.00 490.00
MCX LEAD (NOV ) 131.05 24.10.13 SIDEWAYS
MCX ZINC (NOV ) 118.00 31.10.13 SIDEWAYS
MCX NICKEL(NOV ) 849.30 12.09.13 DOWN 879.20 - 920.00 - 950.00 980.00
MCX ALUMINUM (NOV ) 110.55 26.09.13 DOWN 111.65 - 115.00 - 120.00 125.00
MCX CRUDE OIL (DEC) 6056.00 26.09.13 DOWN 6415.00 - 6300.00 - 6500.00 6650.00
MCX NATURAL GAS (DEC ) 238.70 17.10.13 SIDEWAYS
TREND RATE TREND S1 R1 S2 R2 CLOSING
*
TREND SHEET
COMMODITY
NATURAL GAS MCX (DECEMBER) contract closed at ̀ 238.70 on 21st November '13. The contract made
its high of `241.70 on 25th October '13 and a low of `216.70 on 5th November '13. The 18-day
Exponential Moving Average of the commodity is currently at ̀ 233. On the daily chart, the commodity has Relative Strength Index (14-day) value of 54. One can buy in the
range 232-230 with the stop loss of ̀ 225 for a target of ̀ 245.
RMSEED NCDEX (DECEMEBER) contract closed at 3819.00 on 21st November '13. The contract made its
high of `3958.00 on 7th November '13 and a low of `3551.00 on 23rd September '13.The 18-day
Exponential Moving Average of the Commodity is currently at ̀ 3817.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 53.One can buy in the
range 3800-3780 with the stop loss of ̀ 3750 for target of ̀ 3920.
`
SOYAREFINED OIL NCDEX (DECEMBER) contract closed at 728.35 on 21st November '13. The contract
made its high of `754.20 on 7th November '13 and a low of `647.15 on 16th September '13.The 18-day
Exponential Moving Average of the Commodity is currently at ̀ 724.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 57. One can buy in the
range 725-722 with the stop loss of ̀ 718 for a target of ̀ 738.
`
®
NATURAL GAS MCX (DECEMBER)
RMSEED NCDEX (DECEMEBER)
SOYAREFINED OIL NCDEX (DECEMBER)
COMMODITY
NEWS DIGEST
In an important announcement, Fed Chairman signaled that policy makers may reduce monthly
bond purchases in the coming months and investment holdings contracted. Dollar Index surged on
this news which sent commodities prices lower, some of them touched multi months low. Dollar
climbed to a four-month high versus the yen after minutes from the Federal Reserve's latest
meeting showed officials believed they might be able to start scaling back its stimulus
programme soon. The Thomson Reuters/Core Commodity CRB index touched a more than one-
year low of 272.35. Gold fell to a four-month low, and silver and a few base metals along with
crude oil also slipped after the announcement. In COMEX it breached the strong support of $1250
but here in domestic market it hovered around 30000 mark on weaker currency. Silver was weaker
than gold on fall in both gold and base metals. Even colder weather could not ignite crude oil
prices and it nosedived on the same news of tapering whereas natural gas prices shot up after
updated weather forecasting models predicted below-normal temperatures to hold their grip
through early December. Colder temperatures hike the need for heating this time of year,
increasing demand for natural gas. WTI has fallen the past six weeks, the longest losing streak in
15 years, as U.S. crude inventories climbed to ninth week in a row amid surging output. On
Thursday crude prices recovered on jobless data. Base metals prices dropped further however on
Wednesday some of them recovered to some extent on lower level buying. Copper fell after
Federal Reserve Chairman Ben S. Bernanke said the benchmark interest rate will remain low long
after policy makers reduce bond purchases.
In agro commodities, many of them offered buying opportunities last week. In U.S. wheat edged
higher, and gained ground after hitting a two-month low early this week, as potential production
shortfalls in Argentina and Australia underpinned the market. It moved up in NCDEX as well.
Spices became pricey in the week gone by. Steady to firm sentiment witnessed in red chilli on the
news of crop damaged in Madhya Pradesh region due to heavy rainfall past days. Exporters have
received upcountry orders in the Erode domestic market which sent turmeric prices at higher
side. Similarly, exporters of jeera were also active in as there were inquiries from Bangladesh and
thus jeera prices moved up in futures market as well. Steady to firm movement witnessed in
edible oil and oilseeds counter on seasonal demand.
WEEKLY COMMENTARY
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
COMMODITY UNIT 12.11.13 20.11.13 DIFFERENCEQTY.
BARLEY MT 4309 3638 -671
CASTOR SEED MT 60217 55335 -4882
CHANA MT 37832 36201 -1631
CHILLI MT 288 319 31
COTTONSEED OILCAKE MT 0 0 0
JEERA MT 1593 1167 -426
MAIZE MT 1312 857 -455
RAPE MUSTARD SEED MT 14099 14104 5
SOYA BEAN SEEDS MT 100 1266 1166
SUGAR M MT 1379 1979 600
WHEAT MT 1251 2414 1163
COMMODITY UNIT 12.11.13 21.11.13 DIFFERENCE
QTY. QTY.
CARDAMOM MT 69.80 73.00 3.20
KAPASIA KHALLI BALES 0.00 296.65 296.65
GOLD KGS 152.00 151.00 -1.00
GOLD MINI KGS 12.30 12.30 0.00
GOLD GUINEA KGS 2.98 2.91 -0.07
MENTHA OIL KGS 2581005.95 2581005.95 0.00
MILD STEEL MT 504.85 504.85 0.00
SILVER (30 KG Bar) KGS 13295.40 12669.09 -626.31
•Organisation for Economic Cooperation and
Development (OECD) forecasted the world economy
would grow 3.65 next year.
•China flash Markit/HSBC Purchasing Managers' Index
(PMI) fell to 50.4 from October's final reading of 50.9.
•Atlanta-based ICE will buy the exchange operator and
Singapore Mercantile Clearing Corp. from Financial
Technologies (FTECH) India Ltd.
•Gold demand in China rose to 209.6 tonnes in the
third quarter, up from 177 tonnes in the same quarter
last year, largely driven by a 29% jump in jewellery
demand.
•World sugar stocks at the end of the 2013-14 crop
year raised by 5 million tonnes to 43.4 million tonnes,
the highest since department records began in 1959-
60 – U.S Dept. of Agriculture.
•Palm oil stocks in Malaysia could fall to 1.87 million
tonnes by end of 2013, down nearly 30% on a year
earlier – Malaysia Palm Oil Board.
•Special Margin of 10% on the short side on all running
contracts and yet to be launched contracts in
Turmeric withdrawn w.e.f November 21, 2013 –
NCDEX.
•Pre expiry margin on Refined Soya Oil has been
withdrawn from December 2013 expiry and onward
contracts – NCDEX.
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
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NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
QTY.
8.37
4.86
2.442.05
1.09
-3.79
-3.00-2.62 -2.52
-2.33
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
RED CHILLI TURMERIC BARLEY JEERA SOYABEAN SILVER NEW GUR NEW GUAR SEED COTTON SD O.C (AKL) CHANA
2.81 2.71
1.541.30
0.96
-5.12
-3.88
-3.18 -3.17
-1.70
-6.00
-5.00
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
NATURAL GAS CARDAMOM STEEL RPR BR. CRUDE OIL GOLD PTL (DEL) KAPASKHALI SILVER MENTHA OIL POTATO NICKEL
United States
Germany
Italy
France
China
Switzerland
Russia
Japan
Netherlands
India
% of foreign reserves in gold
Gold reserve(in ton) in October 2013
Country
8.8
55.8
2.7
8.9
9.0
1.3
67.6
68.4
69.8
73.0
Source: WGC
3,391.3
2,451.8
2,435.4
1,054.1
1,040.1
1,015.1
765.2
612.5
557.7
8,133.5
Gold reserve by central banks
13
SPOT PRICES (% change)
COMMODITY
COMMODITY EXCHANGE CONTRACT 14.11.13 21.11.13 CHANGE%
ALUMINIUM LME 3 MONTHS 1786.50 1776.00 -0.59
COPPER LME 3 MONTHS 6949.00 6994.00 0.65
LEAD LME 3 MONTHS 2092.00 2081.00 -0.53
NICKEL LME 3 MONTHS 13665.00 13505.00 -1.17
ZINC LME 3 MONTHS 1885.00 1891.00 0.32
GOLD COMEX DEC 1286.30 1243.60 -3.32
SILVER COMEX DEC 20.72 19.93 -3.80
LIGHT CRUDE OIL NYMEX JAN 94.41 95.44 1.09
NATURAL GAS NYMEX JAN 3.66 3.74 2.33
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
A gold reserve is the amount of gold held by a central bank or nation intended as a store of value and as a guarantee to redeem promises to pay depositors, paper money holders, or trading peers, or to secure a currency.
Gold buying by the world's central banks has slowed so far this year compared to last year, though central banks as a whole remain net buyers of the metal, the latest International Monetary Fund (IMF) data shows. Central bank purchases from January to August 2013 are 40 percent lower than the same period last year.
Central-bank may purchase total 350 tons in 2013, up from 534.6 tons last year, the most since 1964 and 465 tonnes in 2011. According to the International Monetary Fund, Recently Russia reduced gold reserves surprisingly for the first time in a year in September while Mexico cut holdings for a 17th straight month. In September gold reserves in Russia declined about 0.37 metric ton to 1,015.1 tons. Russian central bank is the biggest buyer that raised bullion reserves about 57.4 tons this year. Canada's holdings fell to 3 tons in September from 3.1 tons, and Mexico's lost 0.1 ton to 123.5 tons, the IMF data showed.
Kazakhstan, Turkey, Azerbaijan, Belarus, Kuwait, the Kyrgyz Republic, and Ukraine expanded the reserves assets. Kazakhstan's holdings expanded 2.52 tons to 137.04 tons. Turkey is also on track for a record year of gold imports at an estimated 270 tonnes.
Reason behind slow gold buying by the central banks.
• Major reason is more than 20 percent decline in gold prices this year, which ended 12 years of strong price uptrend.
• Gold prices are declining this year on expectation of slowing or tapering of $85 billion monthly bond purchases by the U.S. Federal Reserve and on prospects for a global economic recovery.
• Emerging-market banks may have less cash to buy gold to their reserves due to currency volatility and capital outflows this year.
• Gold has not played a direct role in the stability of currencies for quite some time now in the emerging market such as India.
• Central bankers are waiting for a stable market.
Reason behind gold reserve
· Central banks in emerging markets have increased their purchases of gold in recent years as the sovereign debt crises in Euro zone in last four years have weakened on traditional reserve currencies such as the U.S. dollar and the euro.
• The turmoil in currency markets and concerns over the global financial crisis have encouraged the central banks to diversify reserve assets and to increase their gold reserve.
• Global monetary stimulus by governments and Central banks and record lower interest rate had added the concerns of depreciation of the currencies and worries about inflation that forced the central to increase their gold reserve.
®
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
13.11.13 21.11.13
ALUMINIUM 5327325 5348875 21550
COPPER 459425 445700 -13725
NICKEL 241716 247638 5922
LEAD 233000 234900 1900
ZINC 1011325 987050 -24275
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 14.11.13 21.11.13 CHANGE(%)
Soya CBOT JAN Cent per Bushel 1313.50 1291.50 -1.67
Maize CBOT DEC Cent per Bushel 426.50 423.00 -0.82
CPO BMD JAN MYR per MT 2589.00 2652.00 2.43
Sugar LIFFE MAR 10 cents per MT 468.10 467.40 -0.15
-12.73
-4.81
-1.64
-1.51
-0.92
-0.65
-0.51
-0.46
0.28
0.59
0.84
1.30
1.42
3.23
3.85
7.11
9.88
-15.00 -10.00 -5.00 0.00 5.00 10.00 15.00
GUR (MUZAFFARNGR.)
SILVER 5 KG (DELHI)
RUBBER (KOCHI)
CHANA (DELHI )
REFINED SOYA OIL (INDORE)
GOLD 100 GMS (MUMBAI)
CRUDE PALM OIL (KANDLA)
SOYABEAN (INDORE)
BARLEY (JAIPUR)
MASOOR (INDORE)
MUSTARD (JAIPUR)
JEERA (UNJHA)
PEPPER MALABAR GAR (KOCHI)
RAW JUTE (KOLKATA)
CORIANDER (KOTA)
TURMERIC (NIZAMABAD)
CHILLI (GUNTUR)
The table show the proportion of gold as a share of total reserves is much smaller in emerging economies than advanced countries.
According to data from the WGC the U.S., Germany, Italy and France hold more than 65 percent of their reserves in gold.
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 62.82 63.55 62.46 63.51
EUR/INR 83.39 85.63 83.39 85.29
GBP/INR 101.60 102.33 98.38 102.30
JPY/INR 63.39 63.39 61.18 62.90
(Source: FX Central, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
News Flows of last week
20th Nov: U.S. business inventories rose more than expected in September
20th Nov: U.S. home resales fell in October to their lowest since June
20th Nov: Fed minutes - taper could happen in coming months
20th Nov: U.S. retail sales signal rise in demand; inflation tame
21st Nov: U.S Producer prices fell for a second straight month in October
21st Nov: U.S manufacturing rebounded this month after hitting a one-year low in October
21st Nov: The number of Americans filing new claims for jobless benefits fell sharply last week
EUR/INR (DEC) contract closed at 85.29 on 21st November'13. The contract made its high of ̀ 85.63 on 20th Novemberr'13 and a low of ̀ 83.39 on 18th November'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 85.35.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 54.35. One can buy around 85.20 for a target of 86.25 with the stop loss of 84.70.
`
JPY/INR (DEC) contract closed at 62.90 on 21st November'13. The contract made its high of `63.39 on 18th November'13 and a low of `61.18 on 20th November'13 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 63.44.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 38.57. One can sell around 63.25 for a target of 62.00 with the stop loss of ̀ 63.80.
`
Market Stance
In the week gone by rupee traded volatile and ended with marginal gains on domestic bourses on back of mixed cues from global economy. Indian rupee started the week with a bang and almost traded near to a two week high to past 62 mark on back of heavy selling of dollars by foreign banks on behalf of overseas clients. Moreover strong foreign fund flows which supported local equities also supported the rupee. However in later part of the week most of the gains witnessed were pared as Federal Reserve minutes hinted at stimulus tapering, sparking concerns about a renewed period of volatility in the currency. Fed tapering concerns were sparked after minutes from its October meeting released on Wednesday signaled that the central bank could start scaling back the asset purchases at one of their next few meetings provided this was warranted by economic growth. The previous spell of Fed tapering fears had sent the rupee to a record low of 68.85 in late August. Moreover, data showing foreign institutional investors (FIIs) have slowed their purchases in domestic shares further added to the weak sentiment.
EUR/INR
USD/INR (DEC) contract closed at `63.51 on 21st November'13. The contract made its high of `63.55 on 21st November'13 and a low of `62.46 on 19th November'13 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 63.26.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 54.04. One can buy around 63.00 for a target of 64.00 with the stop loss of 62.50
GBP/INR (DEC) contract closed at 102.30 on 21st November'13. The contract made its high of `102.33 on 18th November'13 and a low of `98.38 on 20th November'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 101.68.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 64.00. One can buy around 101.90 for a target of 103.00 with the stop loss of 101.30
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USD/INRTechnical Recommendation
GBP/INR JPY/INR
14
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Economic gauge for the next week
Date Currency Event PREVIOUS
26th Nov USD Consumer Confidence 71.2
27th Nov GBP Gross Domestic Product (YoY) 1.50%
27th Nov USD Durable Goods Orders 3.70%
28th Nov EUR German Unemployment Change 2K
28th Nov EUR German Unemployment Rate s.a. 6.90%
28th Nov EUR German Consumer Price Index (YoY) 1.20%
28th Nov EUR German Consumer Price Index - EU Harmonised (YoY) 1.20%
29th Nov EUR Euro-Zone Consumer Price Index Estimate (YoY) 0.70%
29th Nov EUR Euro-Zone Consumer Price Index - Core (YoY) 71.2
IPOIPO
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)
*
Just Dial service provider 9049.89 950.11 5-Jun-13 530.00 590.00 1291.55 143.69
Repco Home Fin Finance 1821.29 270.39 1-Apr-13 172.00 165.00 293 70.35
V-Mart Retail Trading 411.28 123.00 20-Feb-13 210.00 216.00 229 9.05
Bharti Infra. Telecom 29665.33 4533.60 28-Dec-12 220.00 200.00 157.05 -28.61
PC Jeweller Jewellary 1616.38 609.30 27-Dec-12 135.00 135.50 90.25 -33.15
CARE Rating Agency 1997.09 540.00 26-Dec-12 750.00 949.00 688.65 -8.18
Tara Jewels Jewellary 216.66 179.50 6-Dec-12 230.00 242.00 88 -61.74
VKS Projects Engineering 66.15 55.00 18-Jul-12 55.00 55.80 1.05 -98.09
Speciality Rest. Restaurants 491.2 181.96 30-May-12 150.00 153.00 104.6 -30.27
T B Z Jewellary 917.46 210.00 9-May-12 120.00 115.00 137.55 14.63
MT Educare Miscellaneous 378.51 99.00 12-Apr-12 80.00 86.05 95.15 18.94
NBCC Construction 1561.8 124.97 12-Apr-12 106.00 100.00 130.15 22.78
Olympic card. Media 38.17 24.75 28-Mar-12 30.00 29.95 23.4 -22.00
Multi Comm. Exc. Exchange 2454.63 663.31 9-Mar-12 1032.00 1387.00 481.3 -53.36
Indo Thai Sec. Finance 12.05 29.60 2-Nov-11 74.00 75.00 12.05 -83.72
Vaswani Inds. Steel 8.17 49.00 24-Oct-11 49.00 33.45 2.85 -94.18
Flexituff Intl. Packaging 501.88 104.63 19-Oct-11 155.00 155.00 218.4 40.90
Prakash Constro. Construction 10.94 60.00 4-Oct-11 138.00 145.00 0.87 -99.37
PG Electro. Consumer Durables 250.83 120.65 26-Sep-11 210.00 200.00 152.85 -27.21
SRS Jewellary 499.35 203.00 16-Sep-11 58.00 55.00 35.85 -38.19
TD Power Sys. Capital Goods 636.55 227.00 8-Sep-11 256.00 251.60 191.5 -25.20
Tree House Edu. Miscellaneous 876.75 112.06 26-Aug-11 135.00 132.80 240.6 78.22
L&T Fin.Holdings Finance 13096.7 1245.00 12-Aug-11 52.00 51.00 76.25 46.63
Inventure Grow. Finance 75.94 81.90 4-Aug-11 117.00 119.00 9.04 -92.27
Readymade Steel Steel 121.83 34.75 13-Jul-11 108.00 115.00 103.95 -3.75
Birla Pacific Healthcare 6.73 65.18 7-Jul-11 10.00 10.10 0.6 -94.00
Rushil Decor Miscellaneous 63.5 40.64 7-Jul-11 72.00 81.25 44.1 -38.75
Timbor Home Miscellaneous 19.18 23.25 22-Jun-11 63.00 72.00 12 -80.95
Sanghvi Forg. Forgings 21.07 36.90 23-May-11 85.00 85.00 16.6 -80.47
Innoventive Ind. Steel 92.98 217.41 13-May-11 117.00 110.00 15.59 -86.68
Servalaksh.Paper Paper 12.42 60.00 12-May-11 29.00 30.00 2.88 -90.07
Future Ventures Finance 877.29 750.00 10-May-11 10.00 9.50 5.49 -45.10
Muthoot Finance Finance 3921.54 901.25 6-May-11 175.00 180.00 105.5 -39.71
Shilpi Cable Cables 64.72 55.88 8-Apr-11 69.00 78.35 17.25 -75.00
PTC India Fin Finance 648.08 433.28 30-Mar-11 28.00 28.00 11.53 -58.82
Lovable Lingerie Textiles 492.49 93.28 24-Mar-11 205.00 261.50 293.15 43.00
Sudar Garments Textiles 67.95 69.98 11-Mar-11 77.00 74.00 30.2 -60.78
Acropetal Technologies IT - Software 19.52 170.00 10-Mar-11 90.00 96.00 5.02 -94.42
Omkar Specialty Chem. Chemicals 186.98 79.38 10-Feb-11 98.00 95.00 95.25 -2.81
C Mahendra Exports Jewellery 1161.3 165.00 20-Jan-11 110.00 114.00 193.55 75.95
Punjab & Sind Bank Banking 1149.44 480.00 30-Dec-10 120.00 146.00 45.25 -62.29
Ravi Kumar Distilleries Breweries 12 73.60 27-Dec-10 64.00 72.00 5 -92.19
A2Z Maintenance & Engg. Power 62.68 776.25 23-Dec-10 400.00 390.00 8.45 -97.89
Claris Life Sciences Pharmaceuticals 1157.38 300.00 20-Dec-10 228.00 224.00 181.35 -20.46
MOIL Mining 3766.56 1237.51 15-Dec-10 375.00 565.00 224.2 -40.21
RPP Infra Projects. Ltd. Construction 98.88 48.75 6-Dec-10 75.00 75.00 43.75 -41.67
Gravita India Ltd. Metal 218.92 45.00 16-Nov-10 125.00 218.75 32.1 -74.32
Coal India Mining 169910.08 15199.44 4-Nov-10 245.00 287.75 269 9.80
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*Closing prices as on 21-11-2013
15
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MUTUAL FUND
NEWS
Reliance MF introduces Close Ended Equity Fund
Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Close Ended Equity Fund - Series A, a close ended growth scheme. The NFO opens for subscription on Nov 15, 2013, and closes on Nov 29, 2013. The investment objective of the scheme is to provide capital appreciation to the investors, which will be in line with their long term savings goal, by investing in a diversified portfolio of equity & equity related instruments with small exposure to fixed income securities. Although, the objective of the Fund is to generate optimal returns, the objective may or may not be achieved.
Birla Sun Life MF introduces Capital Protection Oriented Fund -Series 17
Birla Sun Life Mutual Fund has launched the New Fund Offer (NFO) of Birla Sun Life Capital Protection Oriented Fund-Series 17, a Close Ended income scheme. The NFO opens for subscription on Nov 20, 2013, and closes on Nov 29, 2013. The investment objective of the scheme is to seek capital protection by investing in fixed income securities maturing on or before the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments.
Reliance MF introduces Fixed Horizon Fund – XXV
Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Fixed Horizon Fund -XXV -Series 3, a Close Ended income scheme. The NFO opens for subscription on Nov 20, 2013, and closes on Nov 26, 2013. The investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of the following securities which are maturing on or before the date of maturity of the scheme with the object of limiting interest rate volatility - Central and State Government securities and Other fixed income/ debt securities
ICICI Prudential MF introduces Multiple Yield Fund-Series 5- 1100 Days-Plan B
ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) of ICICI Prudential Multiple Yield Fund-Series 5- 1100 Days- Plan B, a Close Ended income scheme. The NFO opens for subscription on Nov 15, 2013, and closes on Nov 29, 2013. The investment objective of the scheme is to generate returns 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. However, there can be no assurance that the investment objective of the under the Scheme will be realized.
Birla Sun Life MF introduces Fixed Term Plan - Series IY (499 days)
Birla Sun Life Mutual Fund has launched the New Fund Offer (NFO) of Birla Sun Life Fixed Term Plan - Series IY (499 days), a Close Ended income scheme. The NFO opens for subscription on Nov 15, 2013, and closes on Nov 25, 2013. 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.
DSP BlackRock MF introduces FTP - Series 33 - 24M
DSP BlackRock Mutual Fund has launched the New Fund Offer (NFO) of DSP BlackRock FTP - Series 33 - 24M, a Close Ended income scheme. The NFO opens for subscription on Nov 21, 2013, and closes on Nov 25, 2013. The investment objective of the scheme is 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
Sundaram MF introduces Fixed Term Plan -ER (18 Months)
Sundaram Mutual Fund has launched the New Fund Offer (NFO) of Sundaram Fixed Term Plan -ER (18 Months), a Close Ended income scheme. The NFO opens for subscription on Nov 21, 2013, and closes on Nov 27, 2013. The investment objective of the scheme is to generate income with minimum volatility by investing in debt and money market securities, which mature on or before the maturity of the scheme.
17
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NFOs WATCH
Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount
11-Nov-2013 25-Nov-2013 Close-Ended Small & Mid Cap
`5000/-Axis Small Cap Fund - Regular Plan (G)
Pankaj MurarkaTo generate long-term capital appreciation from a diversified portfolio of predominantly equity & equity related instruments of small cap companies.
11-Nov-2013 25-Nov-2013 Open-Ended Small & Mid Cap
`5000/-Pramerica Midcap Opportunities Fund (G)
Bramhaprakash Singh / Mahendra Jajoo
The primary objective of the Scheme is to achieve long-term capital appreciation by predominantly investing in equity & equity related instruments of mid cap companies. However, there is no assurance that the investment objective shall be realized.
25-Nov-2013 09-Dec-2013 Open-Ended Sector - Banking & Finance
`5000/-Birla Sun Life Banking And Financial Services Fund - Regular Plan (G)
Satyabrata Mohanty
The primary investment objective of the Scheme is to generate long-term capital appreciation to unitholders from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services.
25-Nov-2013 26-Nov-2013 Close-Ended Fixed Maturity /Interval Plans
`5000/-Birla Sun Life Fixed Term Plan - Series JA (366 Days) Regular Plan (G)
Kaustubh GuptaThe Scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the Scheme.
22-Nov-2013 26-Nov-2013 Close-Ended Fixed Maturity /Interval Plans
`5000/-HDFC Fixed Maturity Plan - 370D - Nov 2013 Series 28 (1) Regular Plan (G)
Anil Bamboli / Rakesh Vyas
The investment objective of the Plans under the Scheme is to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).
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
ICICI Prudential Dynamic Plan - Growth 127.59 31-Oct-2002 3585.68 18.05 11.51 15.41 5.08 25.87 1.63 N. A N. A 55.71 19.37 2.69 22.23
Axis Equity Fund - Growth 13.01 05-Jan-2010 613.74 12.16 0.31 14.22 3.13 7.02 1.77 N. A N. A 81.26 9.13 3.35 6.26
Birla Sun Life Frontline Equity Fund - Plan A - G 102.53 30-Aug-2002 3628.66 15.67 0.56 10.66 2.96 23.02 2.02 N. A N. A 90.40 5.38 N. A 4.21
ICICI Prud. Focused Bluechip Eq. Fund - Ret - G 19.29 23-May-2008 4780.57 13.40 2.44 9.98 4.18 12.68 1.89 N. A N. A 90.18 3.24 N. A 6.58
Franklin India Prima Fund - Growth 329.72 01-Dec-1993 836.25 16.25 2.65 9.81 2.69 19.11 1.91 N. A N. A 27.38 59.64 4.68 8.31
SBI Magnum Multiplier Plus 93 - Growth 89.76 28-Feb-1993 1049.48 17.67 1.35 8.95 -0.33 13.34 2.02 N. A N. A 64.58 27.42 3.20 4.80
Templeton India Equity Income Fund - G 23.45 18-May-2006 915.06 12.39 1.18 8.79 2.35 12.00 1.56 N. A N. A 31.89 36.16 0.18 31.77
EQUITY (Diversified)
BALANCED
INCOME FUND
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 21/11/2013Beta, 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
ICICI Prudential Balanced - Growth 58.58 03-Nov-1999 571.96 12.20 2.90 10.38 7.39 13.40 1.38 0.05 49.20 16.09 2.74 31.96
HDFC Balanced Fund - Growth 65.42 11-Sep-2000 1152.89 14.93 3.63 7.49 4.86 15.29 1.44 -0.01 26.57 40.95 2.40 30.07
Birla Sun Life 95 - Growth 350.36 10-Feb-1995 625.15 11.38 -0.63 6.68 2.66 20.83 1.52 -0.01 58.75 12.16 N. A. 29.09
UTI Balanced Fund - Growth 88.76 20-Jan-1995 928.72 12.39 1.45 5.90 1.43 15.86 1.40 -0.03 56.75 15.54 1.39 26.33
Tata Balanced Fund - Plan A - Growth 99.78 08-Oct-1995 603.57 11.52 N. A. 5.62 4.90 15.48 1.56 -0.02 51.24 22.48 1.08 25.21
HDFC Prudence Fund - Growth 229.92 01-Feb-1994 5238.06 15.50 -3.28 2.34 1.19 18.70 1.87 -0.11 38.27 28.30 5.12 28.31
Reliance RSF - Balanced - Growth 24.70 08-Jun-2005 558.65 11.96 -2.08 0.83 0.88 11.28 1.62 -0.11 58.12 10.63 3.79 27.46
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch AUM Since Std. SharpeMaturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Templeton India Income Opp. Fund - G 13.9 11-Dec-2009 3789.53 15.58 1.65 6.51 3.48 8.46 8.92 8.70 18.12 0.07 N. A. 10.81
Templeton India Corporate Bond Opp. Fund - G 12.12 07-Dec-2011 5229.82 18.09 0.65 5.11 3.71 8.25 N. A. 10.32 18.94 0.05 N. A. 11.03
Templeton India IBA - Growth 41.33 23-Jun-1997 1832.46 14.04 3.24 3.56 -2.21 8.00 9.52 9.02 43.95 0.03 N. A. 10.05
Reliance RSF - Debt - Growth 16.55 09-Jun-2005 3661.88 18.34 0.14 1.33 4.64 7.83 8.40 6.10 13.17 0.04 759.00 10.15
HDFC Medium Term Opportunities Fund - G 13.19 29-Jun-2010 2136.65 20.76 -1.36 0.40 1.37 7.21 8.67 8.48 20.65 -0.01 964.00 9.49
ICICI Prudential Regular Savings Fund - G 12.7 03-Dec-2010 3304.15 16.88 0.82 2.55 2.78 6.98 N. A. 8.39 17.26 -0.02 726.00 10.78
DSP BlackRock Strategic Bond Fund - Reg - G 1533.54 09-May-2007 2225.99 9.34 -1.70 -2.93 -1.42 6.78 8.09 6.75 21.53 -0.01 1584.00 N. A.
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 14.65 25-Mar-2009 1663.37 16.03 1.34 6.87 6.50 9.89 10.12 8.53 16.23 0.15 N. A. 11.01
Birla Sun Life Short Term Fund - Reg - G 45.51 03-Mar-1997 5222.32 15.14 2.75 4.56 5.07 8.16 9.10 9.48 12.24 0.06 N. A. 9.41
HDFC Short Term Opportunities Fund - G 13.31 25-Jun-2010 2514.34 14.78 3.32 4.98 5.00 7.95 9.04 8.73 13.95 0.05 471.00 9.58
IDFC SSIF - Short Term - Reg - Growth 25.08 14-Dec-2000 2743.24 16.28 2.14 3.90 4.96 7.36 8.42 7.36 13.62 N. A. 544.00 9.61
Templeton India STIP - Growth 2478.25 31-Jan-2002 7303.04 13.91 1.84 6.80 4.66 8.73 9.04 7.98 16.15 0.09 N. A. 10.79
DWS Short Maturity Fund - Reg - G 21.98 21-Jan-2003 2553.51 18.90 10.87 7.06 4.65 8.07 8.66 7.54 13.70 0.05 1037.00 9.64
UTI Short Term Income Fund - Ret - G 21.35 23-Jun-2003 2973.31 19.22 -2.26 -0.53 3.79 8.69 9.44 7.55 15.74 0.08 869.00 N. A.
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.
DSP BlackRock Money Manager Fund - Reg - G 1684.36 31-Jul-2006 1747.50 8.14 6.50 7.76 9.22 8.98 8.74 7.39 5.17 0.31 127.00 N. A.
DWS Ultra Short-Term Fund - Growth 20.09 21-Oct-2003 1720.29 8.63 8.08 8.69 9.17 9.05 9.07 7.16 4.60 0.36 66.00 9.60
Templeton India Ultra Short Bond Fund - Retail - G 115.86 18-Dec-2007 3538.91 9.55 7.27 8.47 9.01 9.26 9.25 8.09 3.90 0.47 N. A. 9.65
Tata Floater Fund - Plan A - Growth 1861.83 06-Sep-2005 1983.86 9.35 7.95 8.58 8.94 9.24 9.32 7.86 4.56 0.40 92.00 9.21
IDFC Ultra Short Term Fund - Reg - G 17.28 17-Jan-2006 1350.80 9.43 7.92 8.64 8.90 9.27 9.64 7.21 5.10 0.37 87.00 9.30
Reliance Money Manager Fund - Retail - G 1665.65 20-Mar-2007 6504.94 8.91 7.78 8.39 8.83 8.90 8.94 7.94 3.61 0.42 90.00 9.57
UTI Treasury Advantage Fund - Reg - G 3127.78 12-Jul-1999 6295.77 9.34 6.57 7.65 8.74 9.03 8.96 8.26 3.41 0.48 113.00 N. A.
Annualised
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