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WISE M NEYA Weekly Update from SMC
(For private circulation only)
HAPPY CHHATH PUJA6th, November
2016: Issue 552, Week: 07th -10th November
Bra
nd
sm
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76
From The Desk Of Editor
(Saurabh Jain)
SMC Global Securities Ltd. (hereinafter referred to as “SMC”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited and its associate is member of MCX stock Exchange Limited. It is also registered as a Depository Participant with CDSL and NSDL. Its associates merchant banker and Portfolio Manager are registered with SEBI and NBFC registered with RBI. It also has registration with AMFI as a Mutual Fund Distributor.
SMC has applied with SEBI for registering as a Research Entity in terms of SEBI (Research Analyst) Regulations, 2014. SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market.
SMC or its associates including its relatives/analyst do not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. SMC or its associates and relatives does not have any material conflict of interest. SMC or its associates/analyst has not received any compensation from the company covered by Analyst during the past twelve months. The subject company has not been a client of SMC during the past twelve months. SMC or its associates has not received any compensation or other benefits from the company covered by analyst or third party in connection with the research report. The Analyst has not served as an officer, director or employee of company covered by Analyst and SMC has not been engaged in market making activity of the company covered by Analyst.
The views expressed are based solely on information available publicly available/internal data/ other reliable sources believed to be true.
SMC does not represent/ provide any warranty express or implied to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any investment decision.
lobal stocks markets saw some selling reacting to the political uncertainty as
investors became risk averse and sold equities over the possibility of victory for GTrump in the U.S. elections. Also in the just concluded U.S. Federal Open Market
Committee meeting, it is said that the Fed needs only some further evidence that both
inflation and employment are on track to hike interest rates. European stocks recouped
some of the lost ground on the back of better than expected earnings and after judges decided
the U.K. has to hold a vote in Parliament before nation's split from the European Union. In the
monetary policy review meeting Bank of England decided to keep interest rates unchanged
raised its forecasts for 2017 growth and inflation sharply due to the slide in sterling.
Back at home, the GST council approved four main tax slabs 5%, 12%, 18% and 28% under a
proposed Goods and Services Tax (GST). While there will be two standard tax rates – 12% and
18% - under the GST, half of the items in the consumer price index would not be taxed under
the new levy that will replace a plethora of indirect taxes to safeguard the interests of the
poor. The Nikkei India Manufacturing Purchasing Managers' Index showed that
manufacturing activity rose for the tenth straight month to a 22-month high in October led
by a sharp increase in new orders, purchasing activity and output. The Eight Core Industries
comprise nearly 38 % of the weight of items included in the Index of Industrial Production
(IIP) grew at a pace of 5% for the month of September compared to a corresponding period a
year ago. On macro front, the government will announce data on index of industrial
production (IIP) for September 2016 after market hours on Friday, 11 November 2016.
Industrial production declined 0.7% in August 2016 compared with a revised 2.5% decline in
July 2016. Macroeconomic data, outcome of US presidential elections, Q2 results of India
Inc, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic
institutional investors (DIIs), the movement of rupee against the dollar and crude oil price
movement will dictate trend on the bourses in the week ahead.
On the commodity market front, unchanged interest rate by Fed gave further upside leg to
bullion counter but overall CRB closed in bearish zone on sharp fall in energy prices. Decline
in the greenback couldn't give much support to the counter. Bullion counter is witnessing a
lot of volatility as investors are awaiting outcome of US presidential elections on 8th
November. Uncertainty about the outcome of a tight U.S. presidential race is keeping the
investors jittery. Crude oil may continue its weakness as uncertainty over OPEC's ability to
implement a coordinated production cut will weigh on markets. Crude oil can trade in the
range of 2800-3200 in MCX. In base metal counter, outcome of US elections and supply
concerns of some key base metals will give direction to the prices. U. of Michigan
Confidence, Reserve Bank of New Zealand Rate Decision, Consumer Credit, New Yuan
Loans, Baker Hughes U.S. Rig Count, MBA Mortgage Applications etc are few data, which are
important to watch while trading in commodities.
Contents
Equity 4-7
Derivatives 8-9
Commodity 10-13
Currency 14
IPO 15
FD Monitor 16
Insurance 17
Mutual Fund 18
SMC GLOBAL SECURITIES LTD.
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NEWS
DOMESTIC NEWSEconomy• The GST Council decided to have four slabs under the GST regime with some
changes from what union finance ministry proposed and a cess over the peak rate of 28% on luxury and sin goods for five years to compensate states for any revenue loss. A four-tier GST rate structure would be 5%, 12%, 18%, 28%. Most of the food items would attract zero% rate. As much as 50% of consumer price index would be zero rated.
Information Technology• Zensar Technologies, an RPG Company, has entered into a definitive
agreement to acquire Foolproof Ltd. along with its two wholly-owned subsidiary companies in UK and one wholly-owned subsidiary Company in Singapore. Under the terms of the agreement, Foolproof will now be a wholly-owned subsidiary of Zensar Technologies (UK) Ltd. The deal will be financed by internal accruals, and will be EPS positive for the company.
• Tech Mahindra, India's fifth largest IT services firm, is betting big on the Nordic region as it bagged two deals from leading players from Finland and Norway. In both the deals Tech Mahindra will be taking over the employees from these companies onto its board.
Realty/ Construction• Godrej Properties(GPL) has sold over 60,000 sq. meters (6 lakh sq ft.) of
villas with a booking value Rs over 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Golf Links.
FMCG• Dabur India will acquire the personal care, hair care and creams businesses
of the South African based-CTL group of companies in a deal valued at $1.5 million (Rs 10 crore). The acquisition will mark Dabur's entry into the South African personal care market.
Engineering• BGR Energy Systems Ltd, an engineering and contracting company for power
projects in the country, said that it has received a `2,600 crore worth balance of plant (BoP) contract by the state-run Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO) for the 800 Mw North Chennai Thermal Power Project. The contract completion period is 36 months from the date of award.
Chemicals• Shree Pushkar Chemicals & Fertilisers has announced the commencement of
commercial production of its Sulphate of Potash (SOP) plant in end September 2016, along with it has commenced trial runs of the 'Granular Calcium Chloride' plant of the capacity of 6500MTA. The commercial production of the same is slated to commence by End November 2016.
Textile• Sangam India has bagged new export orders worth Rs 35 crores for polyester-
viscoe fabrics and denim from Egypt, Saudi Arabia, Latin American and Afghanistan with a span of 4 months.
INTERNATIONAL NEWS• The Federal Reserve kept interest rates unchanged, as expected, but policy
makers said the case for a rate hike has strengthened. FOMC members voted 8 to 2 to maintain interest rates in a range of 0.25 to 0.5%.
• US real gross domestic product climbed by 2.9 percent in the third quarter after rising by 1.4 percent in the second quarter. Economists had expected 2.5 percent growth. The stronger than expected GDP growth in the third quarter reflects the biggest increase since a 5.0 percent jump in the third quarter of 2014.
• US personal income climbed by 0.3 percent in September after edging up by 0.2 percent in August. Economists had expected income to rise by 0.4 percent. Disposable personal income, or personal income less personal current taxes, also rose by 0.3 percent In September following a 0.2 percent increase in the previous month.
• US jobless claims edged down to 258,000, a decrease of 3,000 from the previous week's revised level of 261,000. Economists had expected jobless claims to dip to 255,000 from the 260,000 originally reported for the previous week.
• Eurozone unemployment rate remained unchanged for a second straight month in September at its lowest level in more than five years. The seasonally-adjusted unemployment rate was 10.0 percent, unchanged from the previous two months. In June, the figure was 10.1 percent.
• US factory orders climbed by a seasonally adjusted 0.3 percent in September. Economists had expected a 0.2 percent increase. Figures for the previous month were revised to a 0.4 percent increase. Originally, August's rise was reported as 0.2 percent.
• Bank of England policymakers voted unanimously to keep its key interest rate and asset purchase programme unchanged. The Monetary Policy Committee retained its key bank rate at a record low 0.25 percent, the government bond purchases at GBP 435 billion and corporate bond purchase plan at GBP 10 billion. The decision came in line with economists' expectations.
Ex-Date Company Purpose
7-Nov-16 Supreme Industries Interim Dividend Rs 3/- Per Share (Purpose Revised)
7-Nov-16 Vedanta Interim Dividend Rs 1.75 Per Share (Purpose Revised)
8-Nov-16 MRF Interim Dividend Rs 3/- Per Share8-Nov-16 Colgate Palmolive (India) Interim Dividend10-Nov-16 Sterlite Technologies Interim Dividend10-Nov-16 Transport Corp.of India Interim Dividend15-Nov-16 Godrej Consumer Products Interim Dividend17-Nov-16 Larsen & Toubro Infotech Interim Dividend
Meeting Date Co_Name Purpose
7-Nov-16 CEAT Quarterly Results7-Nov-16 ICICI Bank Quarterly Results8-Nov-16 Ashok Leyland Quarterly Results8-Nov-16 B H E L Quarterly Results8-Nov-16 Bharat Forge Quarterly Results9-Nov-16 Apollo Tyres Quarterly Results9-Nov-16 Cipla Quarterly Results9-Nov-16 Lupin Quarterly Results9-Nov-16 Pidilite Inds. Quarterly Results9-Nov-16 Rural Elec.Corp. Quarterly Results10-Nov-16 Page Industries Quarterly Results,Interim Dividend10-Nov-16 Power Fin.Corpn. Quarterly Results10-Nov-16 Sun Pharma.Inds. Quarterly Results10-Nov-16 Wockhardt Quarterly Results11-Nov-16 B P C L Quarterly Results11-Nov-16 M & M Quarterly Results11-Nov-16 St Bk of India Quarterly Results12-Nov-16 Hindalco Inds. Quarterly Results14-Nov-16 Aurobindo Pharma Quarterly Results14-Nov-16 Godrej Inds. Quarterly Results15-Nov-16 Container Corpn. Quarterly Results
FORTHCOMING EVENTS
NOTES:1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name
of "Morning Mantra ".2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength
coming into the stock. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.
TREND SHEET
Stocks *Closing Trend Date Rate SUPPORT RESISTANCE Closing
Price Trend Trend
Changed Changed
S&P BSE SENSEX 27274 UP 13.04.16 25627 27000 26600
NIFTY50 8434 UP 13.04.16 7850 8400 8200
NIFTY IT 9924 Down 23.03.16 11207 10400 10600
NIFTY BANK 19058 UP 18.03.16 15655 18800 18500
ACC 1490 Down 21.10.16 1566 1610 1630
BHARTIAIRTEL 307 Down 12.08.16 348 330 340
BHEL 135 Down 14.10.16 133 150 155
CIPLA 545 Down 04.11.16 545 580 590
DLF 139 Down 04.11.16 139 155 160
HINDALCO 159 UP 11.03.16 84 145 140
ICICI BANK 270 UP 21.10.16 277 255 250
INFOSYS 971 DOWN 15.07.16 1073 1060 1080
ITC 249 UP 18.03.16 325 240 230
L&T* 1420 UP 22.04.16 1265 - 1420
MARUTI 5705 UP 20.05.16 3927 5500 5300
NTPC 154 Down 30.09.16 148 160 164
ONGC 270 UP 19.08.16 242 265 255
RELIANCE 1006 Down 04.11.16 1006 1060 1080
TATASTEEL 403 UP 04.03.16 289 380 370
S/l
4
®
Closing as on 04-11-2016*LT HAS BROKEN THE SUPPORT OF 1480
BSE SENSEX GAINERS & LOSERS TOP (% Change) NSE NIFTY GAINERS TOP & LOSERS (% Change)
SECTORAL INDICES (% Change)
SMC Trend
FMCGHealthcare
Auto BankRealty
Cap GoodsCons Durable
Oil & GasPower
ITMetal
Down SidewaysUp
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
5
®
SMC Trend
Nifty Sensex BSE Midcap BSE Smallcap Nifty Junior S&P CNX 500
SMC Trend
FTSE 100CAC 40
NasdaqDow jonesS&P 500
NikkeiStrait times
Hang SengShanghai
9.618.71
3.34 3.002.22
-7.49
-6.26 -5.96 -5.94 -5.85
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
12.00
Bharti Infra. Hindalco Inds. M & M IndusInd Bank Eicher Motors O N G C Grasim Inds Aurobindo Pharma
Sun Pharma.Inds.
Bank of Baroda
3.07
1.44 1.120.74
0.23
-7.73
-5.78 -5.62
-4.73-4.15
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
M & M H D F C NTPC Hero Motocorp
HDFC Bank O N G C Sun Pharma.Inds.
Adani Ports St Bk of India Tata Motors
-867.69
-95.99
-613.77
1012.50
10.30 0.00
180.10106.80
-1000.00
-500.00
0.00
500.00
1000.00
1500.00
Friday Sunday Monday Tuesday Wednesday Thursday
FII / FPI Activity MF Activity
-1.63-1.79
-3.40
-3.06-2.90
-2.10
-4.00
-3.50
-3.00
-2.50
-2.00
-1.50
-1.00
-0.50
0.00
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Next 50
S&P CNX 500
-0.87
-2.02-2.20 -2.28
-1.42
-4.03
-3.06
1.86
-4.55
-1.24
-4.05
-5.00
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
-2.54
-1.27
-1.78-1.79
-0.50
-1.18
0.79
-2.94 -3.01
-3.50
-3.00
-2.50
-2.00
-1.50
-1.00
-0.50
0.00
0.50
1.00
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
INSTITUTIONAL ACTIVITY (Equity) (` Crore)
Beat the street - Fundamental Analysis
Above calls are recommended with a time horizon of 8 to 10 months. Source: Company Website Reuters Capitaline
6
®
SUPRAJIT ENGINEERING LIMITED CMP: 200.00 Upside: 27%Target Price: 255.00
Investment Rationale to ̀ 19.70 crore in the quarter ended June 2016 as against `13.85 crore during the previous quarter ?Suprajit Engineering Limited is the largest ended June 2015. Sales rose 63.4% to `274.90 automotive cable maker with a planned annual cable crore in the quarter ended June 2016 as against Rs capacity of 225 million cables. Company's customer 168.24 crore during the previous quarter ended list includes most Indian automotive majors. It also June 2015. The aftermarket, two-wheelers, exports to many marquee global customers. automotive and non-automotive contributed ?The company uses its diverse knowledge and respectively 10%, 52%, 33% and 5%. Domestic sales experience in manufacturing processes to were 81%, exports 19%.leverage the best out of all its manufacturing
Valuationfacilities and research centers.The company is the most preferred manufacturer of ?Company strives to comply with the highest possible cables and meets the demand of virtually every major quality standards and practices a philosophy of OEM in the automotive sector. The management of the continuous improvement. It adopts processes that company has said that it would more focus on cables in ensure full proof & defect free manufacturing.the export market for better positioning. Steady demand ?On the development foot, recently its subsidiary, from specific OEMs and the shoring up of control-cable Suprajit USA Inc., has acquired 100% controlling growth in the auto and non-auto markets, exports and stake of Wescon Controls, USA. Wescon is a replacements would guide the further growth of the specialist cable maker and a market leader in the company. Thus we expect the stock to see a price target non-automotive outdoor power equipment of ̀ 255 in 8 to 10 month's time frame on a Current P/E of market in the USA. That acquisition would 33.06x and FY17 (E) earnings of ̀ 7.71.increase the market presence in US. This
transaction was funded by Suprajit's cash balances and debt in an approximate ratio of 50:50. The Enterprise Value of Wescon was estimated at USD 44.4 million.
?Next phase of growth for the company is likely to be driven by gaining share in global auto and non-auto cables (incl inorganic); increase in content supplied for CBS/ABS in domestic 2Ws; focus on aftermarket space (both lamps & cables). Moreover, Healthy growth in 2W helped it to decent revenue growth. With steady commodity prices, margins grew modestly. The company is expanding business in North America.
?Consolidated net profit of the company rose 42.2%
Face Value (`) 1.00
52 Week High/Low 233.90/121.70
M.Cap (`Cr.) 2626.78
EPS (`) 6.05
P/E Ratio (times) 33.06
P/B Ratio (times) 4.40
Dividend Yield (%) 0.52
Stock Exchange BSE
% OF SHARE HOLDING
P/E Chart
` in cr
Actual EstimateFY Mar-15 FY Mar-16 FY Mar-17
Revenue 609.20 950.20 1,171.60EBITDA 96.07 154.30 193.40EBIT 87.07 138.60 184.30Pre-tax Profit 74.75 129.10 170.40Net Income 50.30 74.63 102.20EPS 4.19 5.52 7.71BVPS 20.06 34.08 40.91ROE 22.60 21.70 22.20
VALUE PARAMETERS
Investment Rationale much below 8% and the company is borrowing more through corporate bonds. The share of high •LIC Housing Finance is a housing finance company. costs bank borrowing has come down below 10%. LIC of India holds 40.31% stake in the firm as on 30 Management expects the benefits of lower costs September 2016. The main business of the to continue to remain. company is to provide loans for purchase or
construction of residential houses. •The Company is best placed to benefit from reducing interest rate environment, tailwinds •The company disbursed loans of `9123 crore as from favourable government policy towards the against ̀ 8390 crore for Q2 FY16. Disbursements in sector and improving share of non-core.the individual loan category recorded a growth of
10% from `7944 crore to `8755 crore. Out of this ValuationDisbursements, home loan segment registered a The company has registered a healthy disbursement growth of 13% over the same period in the growth rate, robust NII growth delivering higher Net previous year. The outstanding mortgage Interest Margins and maintained a very good asset portfolio as on September 30, 2016 was `131096 quality. Management is confident of building on this crore as against `114069 crore on September 30, and continue to remain positive on our future 2015, thus registering a growth of 15%. performance. Thus, it is expected that the stock may
•Net interest margins (NIM) for the H1 FY17 stood see a price target of ̀ 676 in 8 To 10 months time frame at 2.64% as against 2.47 % for H1 FY16. on target P/BV of 2.70x and FY18 (E) BVPS of ̀ 250.51.
•In core business of the company the individual loan book grew by around 13% for H1 FY'16-17. Going forward management expects the growth momentum in the peak season ie in H2 FY'16-17 will be even strong. Approvals in Sep'16 of individual loan book have also seen strong uptick.
•The company has launched new product for Central and state government employees given the 7th pay commission payouts. This will result in higher core loan book growth going forward. Management expects its positive effect will remain for next 4 quarters.
•The company's incremental cost of borrowing is
P/B Chart
LIC HOUSING FINANCE LIMITED CMP: 533.70 Upside: 27%Target Price: 676.00
Face Value (`) 2.00
52 Week High/Low 624.00/389.00
M.Cap (`Cr.) 26933.86
EPS (`) 31.94
P/E Ratio (times) 16.71
P/B Ratio (times) 2.92
Dividend Yield (%) 1.03
Stock Exchange BSE
` in cr
% OF SHARE HOLDING
VALUE PARAMETERS
Actual Estimate
FY Mar-16 FY Mar-17 FY Mar-18
Revenue 2,944.10 3,583.90 4,146.10EBITDA 2,719.70 3,256.40 3,878.40EBIT 2,710.00 3,194.70 3,712.20Pre-Tax Profit 2,563.60 3,002.10 3,527.10Net Income 1,660.80 1,971.60 2,316.00EPS 32.91 38.68 45.25BVPS 181.25 213.75 250.51ROE (%) 19.60 19.70 19.70
7.698.45
0
47.37
36.5
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
24.73
19.8640.31
15.11
Foreign
Institutions
Promoters
Public & Others
Charts by Spider Software India Ltd
7
EQUITY
Above calls are recommended with a time horizon of 1-2 months
Disclaimer : The analyst and its affiliates companies make no representation or warranty in relation to the accuracy, completeness or reliability of the information contained in its research. The analysis contained in the analyst research is based on numerous assumptions. Different assumptions could result in materially different results.The analyst, not any of its affiliated companies, not any of their members, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of the analysis research.
SOURCE: CAPITAL LINE
®
The stock closed at ̀ 1382.75 on 04th November 2016. It made a 52-week low at
1051 on 12th February 2016 and a 52-week high at 1540 on 02nd August 2016.
The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at 1367.29.
Despite weakness in the broader index, it managed to trade on a positive side.
Moreover, it has formed Inverted head and shoulder pattern. Therefore, we
anticipate that it may shoot up drastically in near term and reach the target. One
can buy in the range of 1350-1360 levels for the target of 1430-1450 levels with
SL of 1310 levels.
` `
`
Container Corporation of India Limited
The stock closed at 298.50 on 04th November 2016. It made a 52-week low at
231.50 on 27th January 2016 and a 52-week high of 320 on 14th July 2016. The
200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at 284.53.
It has formed double bottom pattern on daily charts which is bullish in nature.
Therefore, one can buy in the range of 293-295 levels for the upside target of
310-315 levels with SL below 285.
`
` `
`
Dabur India Limited
DERIVATIVES
CHANGE IN NIFTY OPTION OI (IN QTY)
WEEKLY VIEW OF THE MARKET
NIFTY OPTION OI CONCENTRATION (IN QTY)
CHANGE IN BANKNIFTY OPTION OI (IN QTY)BANKNIFTY OPTION OI CONCENTRATION (IN QTY)
®
The market witnessed further hammering on concern of US election uncertainties, global commodities price correction and expected Fed rate hike in December.
Major sectors closed in negative. Strong sectors like NBFCs and Metals saw profit booking. FII remained net seller throughout the week and every bounce was
used to create new shorts. Hereafter, the range of 8300-8600 levels will remain crucial in the near term, and the move is expected to remain volatile and with
negative bias, as indicated by option open interest concentration. If Nifty falls below the 8400 mark, it could correct to 8300 levels on the back of further selling.
On bounce the index will face strong resistance at 8600-8650 levels. The put-call ratio of open interest closed down at 0.91 levels indicating OTM call writing and
simultaneously put buying. The options open interest concentration shifted at the 9000-strike calls with the highest open interest of above 58 lakh shares; this is
followed by 8800-strike call with open interest of 38 lakhs. Among put options, the 8400-strike is taking the total open interest to 43 lakh shares, with the highest
open interest among put options followed by 8500-strike put with total open interest of 40 lakh shares. The Implied Volatility (IV) of call options moved up at
15.48%, while the average IV of put options closed at 15.98%. The VIX index moved up to 16.47% from 15.49% with expectation of further surge from current
levels. After 250 points Nifty correction in the last week, it expected that short lived bounce can be seen, but higher level should be used for liquidation.
In lakhs
In 10000 In 10000
DABUR (NOV FUTURE)
Buy: Above `301
Target: `311
Stop loss: `296
LUPIN
Buy NOV 1400. PUT 39.00
Sell NOV 1350. PUT 22.00
Lot size: 300
BEP: 1783.00
Max. Profit: 9900.00 (33.00*300)
Max. Loss: 5100.00 (17.00*300)
OPTIONSTRATEGY
FUTURE
M&M
Buy NOV 1380. CALL 32.00
Sell NOV 1400. CALL 24.00
Lot size: 500
BEP: 1388.00
Max. Profit: 6000.00 (12.00*500)
Max. Loss: 4000.00 (8.00*500)
DLF
Buy NOV 135. PUT 3.30
Sell NOV 130. PUT 1.90
Lot size: 5000
BEP: 133.60
Max. Profit: 18000.00 (3.60*5000)
Max. Loss: 7000.00 (1.40*5000)
DERIVATIVE STRATEGIES
CONCOR (NOV FUTURE)
Buy: Above `1390
Target: `1430
Stop loss: `1370
BANKINDIA (NOV FUTURE)
Sell: Below `105
Target: `99
Stop loss: `108
BULLISH STRATEGY BEARISH STRATEGY
Call Put
13
.92
11
.83
11
.06
13
.45 18
.35
29
.63
31
.26
34
.68
28
.44
56
.02
18
.69
25
.99
34
.38
32
.92 37
.89
37
.28
24
.29
13
.47
14
.99
12
.09
14
.85
3.5
2
0.00
10.00
20.00
30.00
40.00
50.00
60.00
8000 8200 8300 8400 8500 8600 8700 8800 8900 9000 9200
Call Put
-4.2
1 -1.0
8
0.0
4 3.8
9 6.4
6
12
.17
9.3
4
10
.73
1.6
2
23
.49
3.2
95.8
6 9.4
7
9.1
9
9.4
5
-3.2
2
-9.8
4
-2.3
5
0.4
9
-0.0
7
-0.3
8
-0.0
1
-15.00
-10.00
-5.00
0.00
5.00
10.00
15.00
20.00
25.00
30.00
8000 8200 8300 8400 8500 8600 8700 8800 8900 9000 9200
Call Put
9.7
4
3.7
9
2.1
2
10
.90
2.5
8
3.7
6
61
.32
4.5
2
52
.75
34
.54
13
.84
13
.49
50
.99
70
.90 8
0.7
4
3.5
1
1.9
4
42
.62
0.4
9
10
.45
5.0
2
3.2
3
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
17500 18000 18500 19000 19300 19400 19500 19800 20000 20500 21000
Call Put
0.1
6
-0.2
2
0.1
2
1.2
0
1.6
7
2.9
9
21
.71
2.4
4
7.6
4
3.7
8
-1.3
8
3.0
3
28
.44
41
.37
26
.54
1.5
6
-0.2
9
4.4
7
-0.0
8
0.0
8
-0.1
1
-0.0
3
-5.00
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
17500 18000 18500 19000 19300 19400 19500 19800 20000 20500 21000
8
In lakhs
9
DERIVATIVES
®
FII’s ACTIVITY IN DERIVATIVE SEGMENT
SENTIMENT INDICATOR (NIFTY)
03-Nov 02-Nov 01-Nov 30-Oct 28-Oct
Discount/Premium 32.95 28.60 25.50 3.50 29.40
PCR(OI) 0.91 0.95 0.98 1.03 1.03
PCR(VOL) 0.91 1.01 0.98 1.02 1.03
A/D RATIO(Nifty 50) 0.46 0.15 1.53 0.42 1.53
A/D RATIO(All FO Stock)* 0.24 0.06 0.96 0.59 2.62
Implied Volatality 15.48 15.75 14.64 14.21 13.52
VIX 16.47 16.80 15.74 15.49 15.49
HISTORY. VOL 14.76 15.16 14.39 14.79 15.10
*All Future Stock
SENTIMENT INDICATOR (BANKNIFTY)
03-Nov 02-Nov 01-Nov 30-Oct 28-Oct
Discount/Premium 87.55 71.75 66.50 29.05 67.55
PCR(OI) 1.44 1.50 1.41 1.14 1.11
PCR(VOL) 0.97 1.24 1.37 0.76 0.95
A/D RATIO(BANKNIFTY) 0.71 0.20 0.57 0.09 5.00
#A/D RATIO 0.46 0.12 0.38 0.12 2.80
Implied Volatality 19.83 19.69 19.61 18.34 17.99
HISTORY. VOL 18.69 19.26 19.06 19.65 20.19
FII’S ACTIVITY IN NIFTY FUTURE
**The highest call open interest acts as resistance and highest put open interest acts as support.# Price rise with rise in open interest suggests long buildup | Price fall with rise in open interest suggests short buildup # Price fall with fall in open interest suggests long unwinding | Price rise with fall in open interest suggests short covering
# All BANKING Future Stock
Top 10 short build upTop 10 long build up
LTP % Price Change Open interest %OI Chng
UBL 872.7 0.09% 1776600 48.59%
VEDL 216.95 7.75% 49272000 25.91%
HINDZINC 266.65 5.50% 7625600 23.99%
AMBUJACEM 243.25 0.08% 13242500 20.36%
CAIRN 241.2 6.05% 24052000 17.91%
TORNTPOWER 180.2 3.27% 2040000 11.11%
TITAN 377.8 0.25% 10756500 8.50%
EICHERMOT 24659.05 2.17% 141200 6.11%
ASHOKLEY 91.35 0.66% 69293000 2.52%
HINDALCO 163.15 8.44% 35469000 1.14%
LTP % Price Change Open interest %OI Chng
DISHTV 89.4 -7.41% 55265000 65.06%
GLENMARK 914.25 -2.59% 2778300 27.37%
TORNTPHARM 1323 -7.03% 513600 20.79%
ALBK 74.1 -2.18% 17650000 16.27%
BANKINDIA 107.95 -6.13% 22896000 13.91%
JUSTDIAL 395.15 -3.13% 4752800 12.65%
ORIENTBANK 116.75 -9.29% 14856000 12.49%
MOTHERSUMI 314.85 -5.51% 10590000 12.09%
ONGC 268.9 -5.40% 20682500 12.05%
IBREALEST 79.1 -10.47% 43480000 11.37%
In Cr. In Cr.
- 39
6
15
5
- 76
4
- 23
2
81
9
- 11
17
9
- 53
5
- 80
3
- 41
6
-1500
-1000
-500
0
500
1000
21-Oct 24-Oct 25-Oct 26-Oct 27-Oct 28-Oct 30-Oct 01-Nov 02-Nov 03-Nov
- 46
57
9
- 14
93
- 73
24
71
19
89
11
0
56
2
- 19
0
42
1
-2000
-1500
-1000
-500
0
500
1000
1500
2000
2500
3000
21-Oct 24-Oct 25-Oct 26-Oct 27-Oct 28-Oct 30-Oct 01-Nov 02-Nov 03-Nov
10
®
Turmeric futures (Dec) will possibly take support near 7100 levels. The counter may witness a gain for the third consecutive week as it has a potential to test 7300 levels. Spot turmeric prices are edging up at Erode markets as buyers are keen on fulfilling their local orders & buying medium variety turmeric. Presently, inventory of the yellow spice is low in the country & therefore premium grade turmeric will fetch better rates due to lower availability. At the Erode Turmeric Merchants Association, the finger turmeric was sold at `6,716-8,577 a quintal and the root variety at 6,366-8,022. Cardamom futures (Dec) may trade on a volatile path in the range of 1250-1400 levels. The factor supporting this aromatic spice is the strong demand from upcountry markets following fear of sharp fall in current crop output due erratic monsoon rains. The delay in the onset of North East monsoon is also a cause of concern. If the north east monsoon failed then the plants would get dried up as there is no water for irrigating the plants. But on the contrary side, the demand at higher levels may get hurt as exporters are not seen aggressive as they were the week before following the sharp rise in prices. Jeera futures (Dec) may continue to show upside moves & test 18000-18200 levels. The fundamentals highlight that the supply of cumin seed in the spot markets is poor due to sluggish stocks amid lower crop this season. However, it is also necessary to pocket the gains as the market participants will remain cautious & keep focus on development of sowing.
`
SPICES
Soybean futures (Dec) may trade sideways with a downside bias in the range of 3100-3200 levels. The fundamentals of the counter are bearish in the domestic as well in the international markets. At home, crushers are buying very little soybean only as per their near term requirements in the absence of any major revival in demand for soybean meal from domestic and overseas buyers. On CBOT, U.S soybean futures (Nov) is expected to face resistance near $10.20 levels & trade with a bearish bias, getting pressurized by expectations of ample global supplies. Mustard futures (Dec) is expected to trade in the range of 4450-4550 levels. The counter may remain stable as winter is nearing so demand for mustard meal may improve as it is highly consumed during winter season by cattle feed manufacturers. Moreover, stocks of mustard seed in the country is tight, which will support in the long term. It is estimated that nearly 45 lakh tonne of mustard seed crop have been arrived as on November 1, against total available crop 57 lakh tonne of total production, including carry over stock from previous crop. Refined soy oil futures (Dec) will probably consolidate in the range of 670-685 levels & trade with a positive bias. Demand may pickup as marriage season is about to start by next week. CPO futures (Nov) is likely to take support near 510 levels taking positive cues from the international market. The sentiments of palm oil on the Bursa Malaysia Derivatives Exchange is turning positive on concerns about lower output & plans to implement higher biodiesel mandates from Dec. 1, which would increase demand for palm oil as it is used as a component of biodiesel.
OIL AND OILSEEDS
OTHER COMMODITIES
Kapas futures (Apr) will possibly take support near 890 levels & make an upside move to test 930 levels. The counter is mainly expected to get support by drop in supply as farmers are not in a mood to dispose their new crop produce at the lower levels. Exporters are active in the market, mainly in central India as parity is said to be competitive in the international market. Bangladesh and Vietnam are the main buyers of commodity. In the domestic market, ginners are buying Kapas to fulfill their earlier commitments, whereas they are facing still facing disparity. Cotton oil seed cake futures (Dec) may witness a consolidation in the range of 1880-2000 levels. The upside may remain capped as the demand from cattle feed manufacture is hand to mouth and cattle feed manufacturers are waiting for the prices to fall further to start bulk buying for their long term requirements. The increasing supply of cotton oil cake on account of higher availability of raw material i.e. cottonseed may add to the bearish sentiments. Cotton oilcake prices are quoting at 2,000/100kg and 2,050 in Kadi and Akola market on account of limited demand from cattle feed manufacturer. Guar seed (Dec) is expected to take support near 3300 levels & witness some bounce back owing to lower level buying & removal of margins. Additional margin of 5% on both long and short side on all the running contracts and yet to be launched contracts in guar seed and guar gum withdrawn w.e.f November 04, 2016.
` `
Bullion counter is witnessing lot of volatility as investors are awaiting outcome of US presidential elections on 8th November. Uncertainty about the outcome of a tight U.S. presidential race is keeping the investors jittery. Last week Fed kept rates unchanged in FOMC meeting, but expressed optimism that inflation was moving towards their 2 percent target. Fed signaled that a rate hike is possible in December as the economy continued to strengthen. December rate hike expectations are closer to 70%. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets, while also boosting the dollar, in which the metal is priced. Movement of local currency rupee will also affect the bullions in MCX which can move in the range of 66-67. Gold can face resistance $1325 in COMEX and 31000 in MCX while it has support near $1250 in COMEX and $29500 in MCX. Recently gold silver ratio moved in narrow range of 70-72.5 .Silver has key support near 40500 in MCX and $16.80 in COMEX. And it has resistance near 43500 in MCX and $18.70 in COMEX. Meanwhile weakness in global equities will increase the safe haven demand of yellow metal. SPDR Gold Trust the world's holdings stood at 949.69 up 4.43 tonnes. Gold demand in China and India, the world's two leading centers for physical gold demand is finally rising after two difficult years. China has seen resumed gold buying from its central bank and retail customers alike. Gold imports to India hit a nine month high in October due to India's peak wedding and festival seasons demand.
BULLIONS
Crude oil may continue its weakness as uncertainty regarding doubts over OPEC's ability to implement a coordinated production cut will weigh on markets. Meanwhile sharp jump in Saudi Arabia exports also pressurized the prices lower. Saudi Arabia exported 7.9 mbpd of oil in October, highest since February and 650K bpd higher from September levels. Some support to prices can be seen as militants in Nigeria's southern Niger Delta oil hub attacked a pipeline which impacted production by nearly 0.2 mbpd. Nigerian Oil Minister Emmanuel Ibe Kachikwu stated that oil output had recovered to 2.1 million barrels per day. The West African country's Trans Niger Pipeline, one of two conduits to export Bonny Light crude, reopened on Oct. 28 after a month-long shutdown. Crude oil can trade in the range of 2800-3200 in MCX. Natural gas may remain on volatile path with weak bias and it can move in the range of 180-200 in MCX. U.S. Energy Information Administration stated in its weekly report that natural gas storage in the U.S. rose by 54 billion cubic feet in the week ended October 28, just below market expectations for an increase of 56 billion cubic feet. Total U.S. natural gas storage stood at 3.963 trillion cubic feet, just 1.2% higher than levels at this time a year ago and 4.4% above the five-year average for this time of year. Meanwhile warmer than average weather in key gas consuming regions in the U.S. ignited speculation that a mild winter will curtail demand for the heating fuel and leave a glut of it in storage, weighing on prices next year.
ENERGY COMPLEX
In base metal counter, outcome of US elections and supply concerns of some key base metals will give direction to the prices. Recently US manufacturing data came positive in October and new orders for US factory goods rose 0.3%, up for a third straight month. Red metal copper may move in the range of 315-340. According to Global demand for copper is expected to broadly meet supply in 2016 and 2017, while there is a chance of stronger-than-expected consumption in top user China. Refined copper production in 2016 is expected to rise 2 percent from the year before to 22.38 million tonnes, while global demand for refined copper will climb 2.6 percent to 22.26 million tonnes. Nickel can move in the range of 660-720. Glencore's nickel production of 82,400 tonnes was 20% higher y/y, mainly as a result of major maintenance at the Sudbury smelter in 2015. New Caledonia nickel producer Societe Le Nickel stated that series of explosions at a smelter had temporarily disrupted output earlier last week. Lead can trade in the range of 134-142. Zinc can move in the range of 158-168. Glencore third quarter zinc production rose 13% from the previous quarter, the first time quarterly output has increased since the group announced mine suspensions. Aluminum prices rose recently on rising costs and a significant uptick in aluminium demand as it can move in the range of 111-117 in MCX. China has been the world's primary source of the metal over the past couple of years, and it has seen a rise in the price of thermal coal of almost seventy percent.
BASE METALS
11
TECHNICAL RECOMMENDATIONS
COMMODITY
ALUMINIUM MCX (NOVEMBER) contract closed at ̀ 115.20 on 03rd Nov'16. The contract made its high of
116.15 on 01st Nov'16 and a low of 107.15 on 20th Sep'16. The 18-day Exponential Moving Average of
the commodity is currently at 113.30.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 68. One can buy in the
range of 114-113 with the stop loss of 110 for a target of 117.
` `
`
` ` `
NICKEL MCX (NOVEMBER) contract closed at 700.10 on 03rd Nov'16. The contract made its high of 730
on 27th Sep'16 and a low of 656.50 on 16th Sep'16. The 18-day Exponential Moving Average of the
commodity is currently at 694.34.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 52. One can buy in the
range of 690-680 with the stop loss of 660 for a target of 735.
` `
`
`
` ` `
SOYAREFINED NCDEX (DECEMBER) contract closed at 673.50 on 03rd Nov'16. The contract made its
high of 687 on 26th Oct'16 and a low of 621.15 on 29th July'16. The 18-day Exponential Moving Average
of the commodity is currently at 672.73.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 57. One can buy in the
range of 670-668 with the stop loss of 665 for a target of 685.
`
` `
`
` ` `
®
ALUMINIUM MCX (NOVEMBER)
NICKEL MCX (NOVEMBER)
SOYAREFINED NCDEX (DECEMBER)
NOTES : 1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name of Daily report- commodities (Morning Mantra).
2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the commodity. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.
EXCHANGE COMMODITY CONTRACT CLOSING DATE TREND TREND RATE TREND SUPPORT RESISTANCE CLOSING
PRICE CHANGED CHANGED STOP/LOSS
NCDEX SOYABEAN NOV 3087.00 12.05.16 Down 4037.00 - 3200.00 3250.00
NCDEX JEERA NOV 17470.00 12.08.16 Down 18520.00 - 17500.00 17600.00
NCDEX REF.SOY OIL NOV 669.65 08.09.16 Sideways
NCDEX RM SEEDS NOV 4538.00 24.08.16 Down 4637.00 - 4700.00 4800.00
MCX MENTHA OIL NOV 931.10 20.10.16 Up 920.80 900.00 - 870.00
MCX CARDAMOM NOV 1278.40 27.10.16 Up 1260.40 1220.00 - 1180.00
MCX SILVER DEC 43348.00 06.10.16 Down 41521.00 - 44000.00 44500.00
MCX GOLD DEC 30487.00 06.10.16 Down 29575.00 - 30600.00 30800.00
MCX COPPER NOV 331.90 22.09.16 Up 326.75 317.00 - 310.00
MCX LEAD NOV 139.20 25.08.16 Up 125.20 132.00 - 128.00
MCX ZINC NOV 165.75 29.09.16 Up 157.60 155.00 - 150.00
MCX NICKEL NOV 700.10 22.09.16 Up 710.00 670.00 - 660.00
MCX ALUMINUM NOV 115.20 20.10.16 Down 108.50 - 115.60 116.00
MCX CRUDE OIL NOV 2976.00 03.11.16 Sideways
MCX NATURAL GAS NOV 186.50 03.11.16 Down 186.50 - 200.00 215.00
TREND SHEET
*Closing as on 03.11.16
COMMODITY
NEWS DIGEST
Unchanged interest rate by Fed gave further upside leg to bullion counter but overall CRB
closed in bearish zone on sharp fall in energy prices. Decline in the greenback couldn't give
much support to the counter. The dollar slumped as the U.S. presidential election increasingly
looked too close to call, raised investors' nervousness and fuelling demand for perceived
havens such as the Japanese yen. Gold hit a near one-month high as investors grew more
concerned over the global economic outlook and started looking for safe-haven assets on signs
that the U.S. presidential election race was tightening. It surpassed the $1300 level in COMEX
and 30400 in MCX. Silver followed the footstep of gold and closed up on renewed buying
interest. Oil futures dropped to five-week lows on last Wednesday after U.S. data revealed that
crude stockpiles jumped by more than 14 million barrels—the largest weekly climb on record. The
U.S. Energy Information Administration reported that domestic crude supplies rose by 14.4
million barrels in the week ended Oct. 28. Last week's report recorded the largest weekly crude
build on the EIA's records going back to 1982. Natural-gas futures also headed lower on marginal
heating demand. In industrial metals pack, copper, lead and zinc traded up, nickel traded in a
range whereas aluminium prices dragged down in line with fall in crude prices.
As regards agri commodities, soybean futures fell on long liquidation and profit-taking ahead
of a key government crop report and market jitters over next week's presidential election.
Refined soya appeared decupled with soyabean and closed the week on positive note. Mustard
seed saw some upside on lower level buying after a sharp fall of continuous five week. Despite
5% additional margin on buy side, wheat futures jumped to fourth week in a row. The
government will release one million tonnes of wheat to cool down its prices which have seen a
surge recently. According to norms, strategic reserves should have 3 million tonnes of wheat
and two million tonnes of rice as on April one of a financial year. Mentha oil prices were up
futures trade as speculators built up fresh position amid rising domestic and export demand in
the spot market. Guarseed prices were trading lower after speculators reduced their
exposure, taking weak cues from physical markets.
WEEKLY COMMENTARY
COMMODITY UNIT 03.11.16 DIFFERENCEQTY. QTY.
BARLEY MT 879.00 309.00 -570.00
CORIANDER NEW MT 13928.00 12999.00 -929.00
GUARGUM MT 4271.00 3616.00 -655.00
GUARSEED MT 18260.00 18898.00 638.00
JEERA NEW MT 1832.00 1475.00 -357.00
MAIZE MT 554.00 554.00 0.00
RM SEED MT 7346.00 6357.00 -989.00
SOYBEAN MT 14057.00 29771.00
SUGAR MT 829.00 620.00 -209.00
TURMERIC MT 3098.00 2957.00 -141.00
WHEAT MT 4032.00 4278.00 246.00
27.10.16 COMMODITY UNIT 03.11.16 DIFFERENCE
QTY. QTY.
CARDAMOM MT 23.50 22.40 -1.10
GOLD KGS 20.00 20.00 0.00
GOLD MINI KGS 4.90 45.60 40.70
GOLD GUINEA KGS 4.92 4.70 -0.22
MENTHA OIL KGS 2264290.23 2246985.23 -17305.00
SILVER (30 KG Bar) KGS 39945.09 39945.09 0.00
27.10.16
•CME Group is launching spot futures contracts for gold and silver in London from January 2017.
•China Caixin October services PMI came in at 52.4, close to forecast of 52.5 while higher 0.4 from the previous month .
•Sales of Venezuelan crude to the United States fell 23 percent in October to 601,605 barrels per day.
•A four-tier GST tax structure of 5, 12, 18 and 28% that aims to lower tax incidence on most goods and keep out essential items was decided by a high-powered council.
•The government will release 1 million tonnes of wheat from its strategic reserve to meet the rise in demand under the open market sale scheme during Jan-Mar and keep prices under check.
•The government will allocate 1 million rupees to each wholesale market under the e-National Agriculture Market scheme for setting up waste management plants.
•Kerala and Tamil Nadu have also rolled out the National Food Security Act (NFSA). With this, now the Act has been implemented in all the States and Union Territories. As a result, now 81.34 crore persons will get wheat at 2/ kg and rice at `3/ kg. - Ministry of Consumer Affairs, Food & Public Distribution
•Additional margin of 5% on both long and short side on all the running contracts and yet to be launched contracts in guar seed and guar gum withdrawn w.e.f November 04, 2016.Additional margin of 5% on both the long side and short side will be imposed on all running contracts of wheat w.e.f November 04, 2016.
`
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
®
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
3.53
2.14 1.99 1.97 1.80
-10.16- 9.62
-9.35
-1.65
- 0.02
-12.00
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
ZINC COPPERSILVER MICRO
MENTHA OIL GOLDM
NATURAL GAS
BR. CRUDE OIL
CRUDE OIL COTTON CPO
5.68
4.01
2.962.70
2.41
-2.05
- 1.71-1.52 -1.47 -1.44
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
BARLEY CORIANDERNEW STEEL
LONGSILVER HEDGE COPPER
CRUDE PALM OIL
COTTON 29MM
MAIZE KHARIF SUGAR M SOYABEAN
COMMODITY
COMMODITY EXCHANGE CONTRACT 28 03.11.16 CHANGE%
ALUMINIUM LME 3 MONTHS 1719.00 1731.00 0.70
COPPER LME 3 MONTHS 4843.00 4960.00 2.42
LEAD LME 3 MONTHS 2065.00 2092.00 1.31
NICKEL LME 3 MONTHS 10430.00 10480.00 0.48
ZINC LME 3 MONTHS 2396.50 2487.00 3.78
GOLD COMEX DEC 1276.80 1303.30 2.08
SILVER COMEX DEC 17.80 18.42 3.48
LIGHT CRUDE OIL NYMEX NOV 48.70 44.66 -8.30
NATURAL GAS NYMEX NOV 3.11 2.77 -10.82
.10.16
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
27.10.16 03.11.16
ALUMINIUM 2153400 2137350 -16050
COPPER 336225 319000 -17225
NICKEL 362484 362922 438
LEAD 188450 188700 250
ZINC 451950 450575 -1375
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 28.10.16 03.11.16 CHANGE(%)
Soybean CBOT NOV Cent per Bushel 1001.25 979.75 -2.15
Corn CBOT DEC Cent per Bushel 355.00 348.00 -1.97
CPO BMD JAN MYR per MT 2788.00 2774.00 -0.50
Sugar LIFFE DEC 10 cents per MT 589.50 568.20 -3.61
13
®
SPOT PRICES (% change) Wheat on High Jump
The National Commodity and Derivatives Exchange Ltd (NCDEX) has imposed 5% additional margin on long and short position of all running futures contracts of wheat from October 4, 2016 to control volatility in the market. Recently wheat prices have touched a fresh high of 2,200 rupees per 100 kg in the benchmark wholesale market of Delhi due to lower inventories in government godowns. The prices gain almost 14% in both future and spot markets last month and led to 22.46% in future and 27.25% gain in spot this year so for. The prices have firmed up despite of higher production in crop year 2015-16 as compared to previous year and improved import prospects.Due to the relatively weak government procurement (22.9 MMT) against the target of 30.5 million tonnes set for the 2016-17 marketing year and abnormally strong off take during the first half of the marketing year by the private trade under the open market sale scheme, wheat inventories in government godowns have dwindled to a nine-year-low of 21.66 million tonnes as on October 1 and perilously close to the minimum buffer-cum-strategic reserve norm of 20.52 mt for this date. State-run Food Corporation of India (FCI) sold 24.61 lakh tonnes of wheat under the Open Market Sale Scheme (OMSS) to bulk users in the first six months of this fiscal 2016-17. In the entire last fiscal 2015-16, FCI had offloaded about 70 lakh tonnes of wheat under the scheme. Historically, the private traders buy government wheat under OMSS after October when the market arrivals are over. But this fiscal, sales had picked up from June and are still continuing. The government has no plans to discontinue sales under the open market sale scheme. The government has offered an average of 650,000 tn of wheat every week since the start of 2016-17 (Apr-Mar) marketing year. Now the government lowered the weekly sales of sales. This week, the government offered only 82,350 tn of wheat for open market sales.To boost sufficient availability and to control wheat prices, The Centre had, on September 23, reduced the import duty on wheat from 25 per cent to 10 per cent. The lower import duty is also applicable only up to February 29. Till date, 2-2.2 million tonnes of imports have been contracted during 2016-17, of which about one million tonnes have arrived. Wheat production has been pegged at 93.50 million tonnes for the 2015-16 crop year (July-June) compared to 86.53 million tonnes during 2014-15, according the Agriculture Ministry's fourth advance estimate for 2015-16. Wheat production in 2015-16 is also higher by 2.97 million tonnes than its 5 years' average production. -7.69
-3.39
-1.34
-1.10
-0.63
-0.51
-0.36
-0.31
0.00
0.00
0.26
1.00
1.52
2.10
2.13
4.65
7.01
-10.00 -8.00 -6.00 -4.00 -2.00 0.00 2.00 4.00 6.00 8.00
COTTON SEED OIL CAKE (AKOLA)
CRUDE PALM OIL (KANDLA)
PEPPER MALABAR GAR (KOCHI)
GUAR SEED (JODHPUR)
GUAR GUM (JODHPUR)
SUGAR (KOLKATA)
SOYABEAN (INDORE)
MUSTARD (JAIPUR)
JEERA (UNJHA)
COTTON (KADI)
GUR (MUZAFFARNGR.)
TURMERIC (NIZAMABAD)
RAW JUTE (KOLKATA)
CORIANDER (KOTA)
SILVER 5 KG (DELHI)
BARLEY (JAIPUR)
WHEAT (DELHI)
Total Supply (1000 MT) 104,201 107,500 3.17
Ending Stocks (1000 MT) 14,500 11,000 -24.14
Total Distribution (1000 MT) 104,201 107,500 3.17
2015/2016 2016/2017 % change
Source :Reuter
Source:USDA
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 66.98 67.11 66.88 66.97
EUR/INR 73.45 74.46 73.42 74.21
GBP/INR 82.00 83.37 81.91 83.27
JPY/INR 63.88 65.25 63.76 64.89
News Flows of last week
02nd Nov U.S. private sector added 147,000 jobs in October: ADP
02nd Nov U.S. mortgage application activity fell to five-month low
03rd Nov The number of Americans filing for unemployment benefits rose to near a three-month high last week
03rd Nov U.S. services industry activity cooled in October amid a slowdown in new orders and hiring
03rd Nov BoE ditches rate cut signal after Brexit hit to sterling
03rd Nov The dollar nursed losses in a week marked by growing uncertainty about the outcome of the U.S. presidential election.
EUR/INR (NOV) contract closed at 74.21 on 03rd November'16. The contract made its high of 74.46 on 03rd November'16 and a low of 73.42 on 01st November'16 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at 73.72.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 54.06. One can buy above 74.40 for a target of 75.20 with the stop loss of 74.00.
(Source: Reliable Software, Open: Monday 9.00 AM IST, Close: Thursday(5.00 PM IST)
Market Stance
Indian rupee remained sideline during last week and settled with marginal
gains against the US dollar on local bourses tracking weakness in overseas
dollar. The selling pressure was seen in dollar by banks and exporters tracking
mixed global cues. The dollar index ended lower as rising uncertainties on the
US presidential election outcome supported gains in safe haven currencies
like Yen and Swiss franc. However, in later part of the week some gains were
seen pared in local unit as dollar recovers from its lows due to fresh demand
for the US currency from corporate and banks amid capital outflows from
stock markets. Cautiousness was seen at this juncture ahead of the vote on
November 8, particularly after recent polls showed Donald Trump gaining
ground on Hillary Clinton. Overall, Clinton has been viewed as the candidate
of the status quo, while many fear that a victory for Trump would carry global
risks to trade and growth.
EUR/INR
USD/INR (NOV) contract closed at 66.97 on 03rdNovember'16. The contract made its high of 67.11 on 02nd November'16 and a low of 66.88 on 03rdNovember'16 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at 66.94.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 51.88. One can buy above 67.10 for the target of 67.40 with the stop loss of 66.90.
GBP/INR (NOV) contract closed at 83.27 on 03rd November'16. The contract made its high of 83.37 on 03rd November'16 and a low of 81.60 on 30thOctober'16 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at 48.94.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 48.94. One can buy above 84.00 for a target of 85.00 with the stop loss of 83.50.
JPY/NR (NOV) contract closed at 64.89 on 03rd November'16. The contract made its high of 65.25 on 03rd November'16 and a low of 63.76 on 01st November'16 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at 64.40.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 53.72. One can buy above 65.20 for a target of 66.00 with the stop loss of 64.80.
USD/INRTechnical Recommendation
Economic gauge for the next week
Date Currency Event Previous
07th Nov USD Labor Market Conditions Index -2.2
07th Nov USD Consumer Credit Change 25.87
08th Nov USD U.S. Presidential Election -
08th Nov GBP Inflation Report Hearings -
08th Nov GBP NIESR GDP Estimate (3M) 0.4
09th Nov GBP RICS Housing Price Balance 17
09th Nov EUR European Commission Releases Economic Growth Forecasts -
10th Nov USD Initial Jobless Claims 265
10th Nov USD Continuing Jobless Claims 2.026
10th Nov USD Monthly Budget Statement 33
GBP/INR JPY/INR
14
®
IPOIPO
About the company:
Incorporated in 2005, GreenSignal Bio Pharma is Chennai based pharmaceutical company engaged in
the development manufacture and sale of the BCG vaccine. The products company manufacture
includes a BCG vaccine and BCG-ONCO, an immunotherapy drug. The immunotherapy drug is used in
the treatment of urinary bladder cancer. GreenSignal has a long term contract with UNICEF to supply
the BCG vaccine to UNICEF.
Strength
Low cost producer of the vaccine: The company is that it is a low cost producer of the vaccine. Even
though domestically its price is regulated by National Pharmaceutical Pricing Authority ; in the
international sphere it has maintained the lowest cost to UNICEF.
Major supplier of vaccines for UNICEF programs: The company is one among the two WHO Pre
Qualified suppliers from India. Also, its supply price is much lower than its main competitor, the Serum
Institute of India Private Limited.
Niche Product Profile: Immunotherapy market is a niche market and the company is one among the
few players active in this segment. Its product UROVAC is one among the brands available in this
segment globally.
Strategy
To export vaccines globally in various jurisdictions: The Company intends to export vaccines
globally in various jurisdictions by directly liaising with countries and their health ministries as well as
providing its products to global suppliers such as UNICEF.
Company plans to add new vaccines to its portfolio: The Company plans to add new vaccines to
its portfolio, and in this regard the company has acquired land admeasuring about 34.01 acres for a
fresh facility at Tiruvallur, Chennai, Tamil Nadu.
To increase its volume of its products in India as well as globally: With an optional upstream
and downstream processes, the company plans to do the Fill / Finish and sell with greater volumes of a
variety of newer Vaccines for Anti Serum, Cancer, Dengue, H1N1, Type-I Diabetes and other dreaded
diseases with better margins to the more demanding markets in India as well as globally.
Aims to produce new and unique novel vaccine products: The Company aims to produce new
and unique novel vaccine products to take advantage of higher margins in sales in the global market
with PQ certification. At the same time, the Company is also planning to upgrade to Fill / Finish process
for the existing products which are already in the market giving decent profit margins. It also intends to
optimally market usage of the BCG Vaccine, its existing product for treatment of Type-I Diabetes as and
when same is approved by MoH.
Comparison with Industry Peers
The company believes that there is no listed company in India whose business portfolio is comparable
with that of its business to be compared as a peer group company and also there are no relevant market
indices for comparison of details like P/E ratio
Valuation
Outlook:
The company claims that it is a low cost producer of the BCG vaccines; however it produces only two
products. Moreover, its production of the BCG vaccine, which is the major source of its revenue get is
stalled or stopped for any reason, it will adversely affect its business and profits. An investor with high
risk appetite may opt the issue for long term.
At upper price band of Rs.80 , EPS and P/E of FY2017 are Rs. 3.06 and 26.18 multiple respectively
and at a lower price band of Rs. 76, P/E multiple is 24.87; Looking at the P/B ratio at Rs. 80 the stock is
priced at P/B ratio of 5.14x on the pre issue book value of Rs.15.55 and on the post issue book value of
Rs. 17.84 the P/B comes out to 4.48x.; Looking at the P/B ratio at Rs.76, the stock is priced at P/B ratio
of 4.89x on the pre issue book value of Rs. 15.55 and on the post issue book value of Rs. 17.84 , the
P/B comes out to 4.26x.
GREENSIGNAL BIO PHARMA LIMITED
?Have only two products of the BCG vaccine
? Net loss for the preceding four out of five financial years
? Dependent upon few customers/third party contracts for
its business
? Negative cash flow in two out of last five financial years
Risk Factor
Shareholding Pattern (%)
Particulars Pre-issue Post issue
Promotors and promoters group
QIB 0.00% 28.50%
NIB 16.29% 15.80%
Retail 0.16% 3.96%
Total 100 100
83.55% 51.74%
*calculated on the upper price band
Objects of the Issue
1. Achieve the benefits of listing the Equity Shares on the BSE
and the NSE;
2. To carry out the sale of up to 14,579,560 Equity Shares by
the Selling Shareholders;
3. Enhance visibility and brand image among existing and
potential customers; and
4. Provide liquidity to the existing shareholders.
Issue Highlights
Industry Pharma
Total Issue (Shares) - Offer for sale 14,579,560
Net Offer to the Public 14,579,560
Issue Size (Rs. Cr.) 116.64-110.84
Price Band (Rs.) 76-80
Offer Date 9-Nov-16
Close Date 11-Nov-16
Face Value 10
Lot Size 175Equity Share
Issue Composition
Total Issue (Shares) 14,579,560
QIB 10,934,670
NIB 2,186,934
Retail 1,457,956
In shares
SMC Ranking
(1.5/5)
15
®
®
16
FIXED DEPOSIT MONITOR
• Interest structure may be revised by company from time to time. Pls confirm Interest rates before submitting the application.
* For Application Greater Than Rs. Fifty Lakhs Or equal to Fifty Lakhs, Please Contact to Head Office.
* Email us at [email protected]
FIXED DEPOSIT COMPANIES
PERIOD MIN.ADDITIONAL RATE OF INTEREST (%)
S.NO (NBFC COMPANY -NAME)12M 18M 24M 36M 45M 48M 60M 84M INVESTMENT
-1 BAJAJ FINANCE LTD.(UPTO RS. 5 CR.) 8.25 8.25 8.25 8.25 - 8.25 8.25 0.25% FOR SR. CITIZEN, 0.10% FOR DELHI NCR &
EXISTING LOAN CUSTOMER AND ON RENEWAL MUMBAI-75000,
UPTO RS. 1CRORE OTHER-50000/--
2 DEWAN HOUSING FINANCE CORPORATION LTD 13M=8.60% 14M=8.60% 18M=8.60% 0.25% EXTRA FOR SR. CITIZEN,WIDOW, 13M=50000; 40M=8.65%
ARMED, PERSONNEL, EXISTING DHFL HOME 14M=10000;
BORROWERS, 0.25% EXTRA FOR DEPOSIT
50 LAC AND ABOVE
3 DEWAN HOUSING FINANCE CORPORATION LTD (AASHRAY) 8.25 - 8.50 8.60 - 8.65 - 8.65 10,000/-
4 GRUH FINANCE LTD. 7.50 13M=7.50 7.75 8.00 - 8.00 8.00 8.00 96-120M=8.00%; 0.25% FOR FEMALE, 1000/-
SR. CITIZEN & TRUST
5 HDFC PREMIUM DEPOSIT FOR INDIVIUAL (UPTO RS. 2 CR.) 15M=7.90 30M=7.90 22M=7.95 44M=7.95 0.25% FOR SR. CITIZEN UPTO RS. 1 CR. 20000/-, 40000/-
IN MONTHLY
- -6 HDFC PREMIUM DEPOSIT FOR TRUST & INSTITUTION (UPTO RS. 10 CR.) 20M=7.85 40M=7.85 - -
7 HDFC LTD FOR INDIVIDUAL & TRUST (UPTO RS.5 CR.) 7.80 - 7.80 7.80 - 7.80 7.80 - 0.25% FOR SR. CITIZEN UPTO RS. 1 CR.
8 HUDCO LTD.(IND & HUF) 7.50 - 7.50 7.50 - 7.50 7.35 7.35 0.25% FOR SR. CITIZEN 10000/-
9 HUDCO LTD.(TRUST/CO/INSTITUTION) 7.30 - 7.30 7.30 - 7.30 7.30 7.30 - 10000/-
10 J K Lakshmi Cement Ltd. 8.50 8.75 9.00 - 25000/-
11 J K Tyre & Industies Ltd. 8.50 8.75 9.00 0.50% add. interest to sr. citizen , employees,shareholders and 25000/-
person investing Rs. 5 lacs and above - max. 0.50%
12 KTDFC (Kerela Transport) 8.50 - 8.50 8.50 - 8.25 8.25 - 0.25% extra for Sr. Citizen, 10000/-
13 LIC HOUSING FINANCE LTD.(UPTO RS. 5 CR.) 7.85 7.85 7.90 7.95 - - 7.95 - 0.25% FOR SR.CITIZEN IF APP ABOVE RS. 50,000/- APP 10000/-
UPTO RS. 50,000/- & 0.10% IF APP upto Rs. 50,000/-
14 M&M FINANCIAL SERVICES LTD (FOR BELOW RS. 1 CRORE) 7.90 8.00 8.00 8.05 - 8.05 8.05 - 0.25% FOR SR. CITIZEN 10000/-
15 Omaxe Ltd. 11.50 - 12.00 12.50 - - - - - 50000/-
16 PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.) 7.90 - 7.90 7.90 - 7.90 7.90 7.90 0.25% EXTRA FOR SR. CITIZEN UPTO RS.1 CRORE 20000/-
17 PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.) 15M=8.00 30M=8.05 44M=8.05 0.25% FOR SR. CITIZEN22M=8.00
18 SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME 8.00 - 8.10 8.25 - 8.45 8.50 - 0.25% FOR SR. CITIZEN 5000/-
19 SHRIRAM CITY UNION SCHEME 8.00 - 8.10 8.25 - 8.45 8.50 - 0.25% FOR SR. CITIZEN 5000/
(FOR TRUST ONLY) (FOR WOMEN ONLY)
011-66651222
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Kotak Balance - Growth 20.96 05-Nov-2014 362.38 3.85 13.63 14.40 N.A 8.84 1.57 0.83 36.46 24.90 3.11 35.53
DSP BlackRock Balanced Fund - Growth 125.10 27-May-1999 1465.24 4.25 15.46 13.82 21.26 15.58 1.73 0.85 45.03 22.67 3.87 28.42
ICICI Prudential Balanced - Growth 105.00 03-Nov-1999 3344.90 4.51 14.63 13.82 20.82 14.82 1.62 0.82 51.13 19.52 1.31 28.04
Birla Sun Life Balanced 95 - Growth 639.40 10-Feb-1995 3672.36 2.66 13.71 13.78 21.19 21.07 1.62 0.82 45.51 22.66 0.73 31.10
HDFC Prudence Fund - Growth 420.43 01-Feb-1994 11412.00 5.84 16.38 12.53 21.83 19.21 2.06 1.03 43.87 17.48 9.10 29.56
HDFC Balanced Fund - Growth 122.26 11-Sep-2000 6840.90 4.41 13.28 12.43 23.04 16.76 1.63 0.83 41.79 24.40 1.54 32.26
Mirae Asset Prudence Fund - Reg - G 11.12 29-Jul-2015 272.78 2.36 12.27 12.27 N.A 8.71 1.71 0.87 67.72 5.13 N.A 27.15
Annualised
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch QAAUM Since Std. SharpeMaturity (Years) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
ICICI Prudential Dynamic Bond F - Prem Plus - G 18.91 14-Jan-2010 1205.04 -1.63 -1.52 4.29 15.69 12.98 12.17 9.81 22.02 0.23 7.11 7.60
ICICI Prudential LTP - Growth 19.70 20-Jan-2010 1064.46 -3.91 -3.55 3.30 16.81 12.72 13.44 10.50 28.29 0.18 9.65 7.28
HDFC Income Fund - Growth 37.16 11-Sep-2000 2824.73 -5.62 -2.38 -1.06 17.37 12.37 11.41 8.46 27.31 0.15 17.07 7.38
ICICI Prudential Income Fund -Growth 50.91 09-Jul-1998 2983.76 -5.96 -4.31 1.32 16.52 11.94 11.59 9.28 28.59 0.15 11.27 7.41
Reliance Dynamic Bond Fund - Growth 21.90 15-Nov-2004 4969.99 -4.97 -5.17 0.51 15.54 11.34 10.88 6.77 25.76 0.15 13.71 7.25
Birla Sun Life Income Plus - DAP 18.26 06-Mar-2009 3165.96 -4.96 -4.85 2.94 16.42 11.30 10.73 8.17 29.39 0.13 10.76 7.12
DSP BlackRock Strategic Bond F - Reg - G 2103.39 09-May-2007 2889.01 -3.05 -2.12 2.06 15.18 11.26 10.95 8.14 21.46 0.17 10.53 7.29
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Years) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
HDFC HIF - Dynamic - Growth 56.00 27-Apr-1997 1833.79 -3.19 0.02 2.48 17.07 12.33 11.62 9.22 27.23 0.16 13.12 7.5
Birla Sun Life Dynamic Bond Fund - Ret - DAP 19.97 08-Apr-2009 13139.10 -3.44 -1.85 -0.62 16.51 12.37 12.07 9.56 23.79 0.21 16.39 7.74
Birla Sun Life Treasury Optimizer Plan - DAP 188.82 22-Jun-2009 6545.71 -0.03 -0.71 5.25 13.39 11.48 11.01 9.00 13.01 0.26 5.27 7.58
HDFC HIF - S T P - Growth 31.85 06-Feb-2002 1657.34 3.11 2.07 7.11 12.89 10.48 9.96 8.17 10.98 0.22 4.86 7.99
ICICI Prudential Banking & PSU Debt F - Reg - G 18.19 01-Jan-2010 5407.65 -1.09 -1.53 4.85 12.71 11.10 10.34 9.14 12.33 0.26 4.60 7.45
Kotak Income Opportunities Fund - Reg - G 17.42 11-May-2010 2168.05 2.28 2.28 6.53 12.05 10.62 10.06 8.94 7.22 0.38 2.94 8.99
Birla Sun Life Short Term Opportunities F - Reg - G 26.54 24-Apr-2003 4396.15 0.63 -0.99 4.78 11.93 10.62 10.31 7.48 10.37 0.26 4.18 7.79
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Years) Maturity
1W 2W 1M 3M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Kotak Banking and PSU Debt Fund - Reg - G 35.84 29-Dec-1998 586.75 4.22 3.58 6.87 11.01 9.56 9.37 7.41 5.24 0.37 3.49 7.45
Franklin India Low Duration Fund - G 17.81 26-Jul-2010 2156.42 8.97 6.84 8.95 10.17 9.48 9.89 9.63 5.01 0.47 1.35 9.29
ICICI Prudential Ultra Short Term Plan - Reg - G 16.24 11-Aug-2009 7597.89 4.05 2.52 7.03 9.42 9.47 9.34 6.93 6.10 0.34 2.86 7.42
Birla Sun Life Floating Rate F - LTP - Reg - G 192.99 24-Mar-2009 3934.38 4.59 3.07 6.94 9.25 9.44 9.38 9.01 4.41 0.45 1.58 7.42
Baroda Pioneer Treasury Advantage F - Plan A - G 1833.77 24-Jun-2009 2357.53 6.09 5.25 7.17 8.86 9.15 9.32 8.58 3.26 0.59 1.27 8.54
Franklin India Ultra Short Bond F - Retail - G 20.61 18-Dec-2007 5904.29 8.36 6.70 7.91 8.80 9.05 9.25 8.48 2.34 0.76 0.93 8.58
BOI AXA Treasury Advantage Fund - Reg - G 1885.85 17-Jul-2008 376.36 7.13 6.48 7.48 8.79 9.02 9.08 7.94 2.56 0.66 0.57 8.24
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
SBI Magnum COMMA Fund - Growth 30.78 08-Aug-2005 218.81 11.25 25.89 34.97 20.02 10.51 2.41 0.89 0.16 59.54 21.60 9.75 9.12
Sundaram Rural India Fund - Reg - G 34.61 12-May-2006 334.42 7.20 24.43 33.25 28.74 12.57 2.16 0.86 0.35 22.96 49.57 15.42 12.05
Birla Sun Life Small & Midcap Fund - G 31.35 31-May-2007 282.73 6.76 24.19 26.21 34.49 12.87 2.28 0.85 0.37 2.00 76.40 5.92 15.69
L&T Emerging Businesses Fund - Reg - G 18.67 12-May-2014 318.76 9.70 28.13 25.82 N.A 28.60 2.36 0.84 0.33 N.A 76.64 16.89 6.47
DSP BlackRock Micro Cap Fund - Reg - G 53.32 14-Jun-2007 3496.41 9.59 23.45 25.48 49.12 19.50 2.46 0.88 0.45 N.A 65.36 29.83 4.81
Tata Equity P/E Fund - Reg - Growth 104.54 29-Jun-2004 636.72 5.95 24.02 23.72 29.12 20.92 2.28 0.92 0.24 43.64 44.20 7.73 4.43
Mirae Asset Emerging Bluechip Fund - G 38.23 09-Jul-2010 2253.32 9.72 23.53 23.24 40.49 23.62 2.17 0.85 0.36 30.44 60.43 2.10 7.03
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 03/11/2016Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
Annualised
18
MUTUAL FUND Performance Charts
EQUITY (Diversified)
INCOME FUND
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, Short term funds and Ultra short term funds have been sorted on the basis of 6month and 3month returns respectively
Annualised
®
BALANCED
Talent Show by SMC Employees on the occasion of Diwali at SMC Daryaganj and Pusa Road offices.
