smc global weekly news letter (wisemoney)
DESCRIPTION
It is a weekly newsletter, which is an epigrammatic on investment opportunities escorted by sound technical and fundamental analysis of existing and forthcoming stocks that keep investors updated about the market developments. It includes all the segments say Equity, Commodity, Mutual Fund, Currency and Fixed Deposits. It is a complete handy guide, which helps all the investors to multiply their wealth.TRANSCRIPT
WISE M NEY
Bra
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55
2014: Issue 432, Week: 21st - 24th JulyA Weekly Update from SMC
(For private circulation only)
(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 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,
5th Floor, Kolkata-700001
Tel : 91-33-39847000 Fax No : 91-33-39847004
AHMEDABAD OFFICE :
10/A, 4th Floor, Kalapurnam Building, Near Municipal Market,
C G Road, Ahmedabad-380009, Gujarat
Tel : 91-79-26424801 - 05, 40049801 - 03
CHENNAI OFFICE:
Salzburg Square, Flat No.1, III rd Floor, Door No.107, Harrington Road,
Chetpet, Chennai - 600031.
Tel: 044-39109100, Fax -044- 39109111
SECUNDERABAD OFFICE:
206, 3rd Floor, above CMR Exclusive, Bhuvana Towers, S.D.Road,
Secunderabad - 500003
Tel: 91-40-30780298/99, 39109536
DUBAI OFFICE:
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 stock markets gained during the last week on the back of optimism
coming from Japan and China. Economic expansion in China came higher at G7.5% for the quarter ending June higher than the expectations of 7.4%.
Industrial production for the month of June too exceeded the estimates of 9%,
coming at 9.2% in China. As per a survey, Japan would consider another hike in sales
tax to 10% if inflation jumps to 2% level to reduce the debt burden. In the U.S.
ongoing improvement in the economic data may lead to unwinding of
unprecedented stimulus earlier going next year. The U.S. and Europe are imposing
more sanctions on Russia on its ongoing tussle with Ukraine that includes halt in
lending for new public sector projects and would stop Russian companies to access
U.S. debt and equity markets. Despite the bold steps of by the European Central
Bank to take interest rates on negative and allowing banks to borrow long term
funds, many are of the opinion that risks of deflation in the Euro-area has risen over
the next year.
Back at home, Central Bank allowed public sector banks to sell long term bonds for
infrastructure financing that are exempt from cash reserve and statutory liquidity
ratio as well as so priority sector lending targets. On the disinvestment front, bids
are being invited from Investment banks to kick start the disinvestment to sell 5%
stake in ONGC. The step is seen very positive in the sense that it will help in
economic rebound as various projects are struck up at various stages and are in need
of the funds. The Index of Industrial Production (IIP) for the month of May came in at
4.7 percent versus 3.4 percent month-on-month. The factory output in May is at a
19-month high – highest since October 2012. On the contrary, a surge in gold imports
in June widened India's trade deficit to $11.76 billion from $11.23 billion in May,
adding to the uncertainty from global oil prices that could pile more pressure on its
current account balance.
On the commodities front, upside movement in the bullion counter may persist,
continuing last week gains as tension in the Middle East and Ukraine will increase its
safe haven demand. Fresh tension in the Ukrainian peninsula and fresh sanctions by
the US on Russia will keep the prices well supported. Geopolitical tension and
weakness of local currency rupee along with falling inventory data will give support
to the crude oil prices in the near term. Crude oil prices may trade in the range of
6000-6350 in MCX and $100-106 in NYMEX. A base metal counter may trade on mixed
path as on the one side good economic data from China is supporting prices, but on
the other side, weak housing data from US is capping the gains. Reserve Bank of New
Zealand Rate Decision, CPI of US, Japan and Australia, GDP of UK, Durable Goods
Orders of US etc are few important data and events, which are need to be closely
watched.
From The Desk Of Editor
NEWS
DOMESTIC NEWSEconomy•India's merchandise trade deficit rose to $11.76 billion in June from $11.28
billion in the same month last year. Exports, including re-exports, rose 10.22 percent year-on-year to $26.48 billion in June from $24.02 billion in the corresponding month of the previous year. Imports climbed 8.33 percent annually to $38.24 billion in June. In June, oil imports rose 10.90 percent and non-oil imports grew 7 percent.
•India's June consumer price index (CPI)-based inflation came in at a 29-month low of 7.31 percent, compared to 8.28 percent in the previous month, helped mainly by a moderation in food prices. June core CPI inflation stood at 7.3 percent versus 7.74 percent (month-on-month).
•India's wholesale price inflation came in at 5.43 percent in June, the lowest since February and down from 6.01 percent in May. Inflation was expected to ease to 5.73 percent.
Information Technology•Tech Mahindra has signed a MoU with Wichita State University (WSU), a
state educational institution of Kansas in the areas of aerospace engineering, certification, information technology and automotive testing. The company will collaborate with WSU and its National Institute for Aviation Research (NIAR), the largest academic aviation R&D institution in the United States, on multiple areas of engineering including composites, advanced materials and structural testing.
Metal•Nalco has inked a MoU with Indian Rare Earths (IREL), a Government of
India undertaking under the Department of Atomic Energy, for setting up a Titanium Slag Plant having a capacity of 1 lakh tonne. The company has taken this step as part of its diversification plan and the said plant will be located at Odisha's Sand Complex at Chatrapur in Ganjam district.
Realty/ Construction & Infrastructure •Adani Ports and Special Economic Zone has received the environment and
coastal regulation zone (CRZ ) clearance from the Union Ministry for Environment and Forests, for its 8,481 hectares special economic zone in Mundra, thus paving way for India to become an export driven economy.
•Sadbhav Engineering's Joint Venture (JV), Sadbhav - Vishnushiva, has been awarded the project/work by South West Mining. The contract worth ̀ 550 crore is for a period of 7 years from September 12, 2014.
Pharmaceuticals•Strides Arcolab has made a series of strategic investments in
Oncobiologics Inc, a privately held New Jersey biopharmaceutical firm developing a pipeline of biosimilars and next generation biotherapeutics.
Capital GoodsSiemens has opened its first Technology and Application Centre (TAC) at Peenya, the industrial area of Bangalore. Spread across 6,500 square feet, this facility will enable machine tool manufacturers and end users to improve productivity through testing machining techniques in real-world conditions.
Automobile•Maruti Suzuki India has signed a MOU with Muthoot Vehicle and Asset
Finance (MVFL) to provide vehicle finance for Maruti cars. The finance scheme named Muthoot Maruti Gold to Car Scheme will give Maruti customers the freedom to get 100% on road financing for their vehicles across Kerala.
INTERNATIONAL NEWS•US industrial production edged up by 0.2 percent in June compared to
economist estimates for an increase of about 0.4 percent. While the report also said production growth in May was downwardly revised to 0.5 percent from 0.6 percent, the 0.3 percent drop in production reported for April was upwardly revised to unchanged.
•US producer price index for final demand rose by 0.4 percent in June following a 0.2 percent drop in May. Economists had expected prices to increase by about 0.2 percent.
•US retail sales edged up by 0.2 percent in June compared to economist estimates for an increase of about 0.6 percent. While the sale growth came in well below estimates, the report also showed that retail sales rose by an upwardly revised 0.5 percent and 0.6 percent in May and April, respectively.
•US initial jobless claims edged down to 302,000, a decrease of 3,000 from the previous week's revised level of 305,000. Economists had expected jobless claims to climb to 310,000 from the 304,000 originally reported for the previous week.
•The leaders of the BRICS nations agreed to set up a new $100 billion development bank and another $100 billion currency reserves to reduce their dependence on global financial lenders and to bring stability in the financial system of emerging nations. At the sixth summit of BRICS, held in Brazil, Brazilian President Dilma Rousseff, her Russian counterpart Vladimir Putin, Indian Prime Minister Narendra Modi, Chinese President Xi Jinping and South African President Jacob Zuma agreed on the terms of launching the new bank.
MEETING DATE SYMBOL PURPOSE
21-Jul-14 HDFCBANK Results21-Jul-14 HDFC Results21-Jul-14 IDEA Results21-Jul-14 CANBK Results21-Jul-14 EXIDEIND Results/Dividend22-Jul-14 INGVYSYABK Results22-Jul-14 HEXAWARE Results/Dividend22-Jul-14 AXISBANK Results22-Jul-14 ASIANPAINT Results23-Jul-14 YESBANK Results23-Jul-14 POLARIS Results23-Jul-14 JSWENERGY Results23-Jul-14 CAIRN Results24-Jul-14 WIPRO Results24-Jul-14 MASTEK Results24-Jul-14 CENTURYTEX Results24-Jul-14 BIOCON Results24-Jul-14 AMBUJACEM Results/Dividend24-Jul-14 ACC Results/Dividend25-Jul-14 UCOBANK Results25-Jul-14 PNB Results25-Jul-14 SUZLON Results25-Jul-14 JUSTDIAL Results/Others25-Jul-14 ASHOKLEY Results26-Jul-14 CENTRALBK Results28-Jul-14 TORNTPOWER Results28-Jul-14 HAVELLS Results28-Jul-14 DABUR Results29-Jul-14 RANBAXY Results29-Jul-14 IDFC Results/Others29-Jul-14 BHARTIARTL 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
SENSEX 25561 UP 12.09.13 19317 24600 24300
S&P NIFTY 7640 UP 12.09.13 5728 7400 7260
CNX IT 9820 UP 12.06.14 9448 9550 9450
CNX BANK 15269 UP 08.03.14 11278 14700 14300
ACC 1477 UP 15.05.14 1377 1400 1380
BHARTIAIRTEL 337 DOWN 10.07.14 334 348 355
BHEL 243 UP 05.09.13 138 - 240
CIPLA 437 UP 12.06.14 416 425 415
DLF 222 UP 15.05.14 160 205 200
HINDALCO 189 UP 08.03.14 121 170 165
ICICI BANK 1451 UP 08.03.14 1134 1400 1370
INFOSYS 3239 UP 19.06.14 3312 3200 3100
ITC 344 UP 10.07.14 342 330 325
L&T 1669 UP 19.09.13 888 1650 1620
MARUTI 2560 UP 19.09.13 1480 2400 2350
NTPC 150 DOWN 17.07.14 150 157 160
ONGC 413 UP 31.10.13 294 380 370
RELIANCE 983 DOWN 10.07.14 997 1050 1060
TATASTEEL 559 UP 27.03.14 376 510 500
S/l
4
®
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
ITMetal
Down SidewaysUp
SMC Trend
Nifty BSE Midcap S&P CNX 500
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
BSE SmallcapSensex Nifty Junior
5
®
INSTITUTIONAL ACTIVITY (Equity) (` Crore)
-543.00
1296.13
637.51
159.00
733.70
597.40
389.30
-1000.00
-500.00
0.00
500.00
1000.00
1500.00
Friday Monday Tuesday Wednesday Thursday
FII / FPI Activity MF Activity
-0.56
13.13
11.34
8.918.09
7.57
-2.80 -2.63 -2.34 -2.30 -2.17
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
Hindalco Inds.
Tata Steel B H E L Bank of Baroda
Axis Bank Wipro Infosys Hind. Unilever
HCL Technologies
Bajaj Auto
13.40
11.57
8.80
7.65 7.27
-2.66 -2.48 -2.41 -2.16 -2.08-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
Hindalco Inds.
Tata Steel B H E L Axis Bank St Bk of India Wipro Infosys Hind. Unilever
Dr Reddy's Labs
Bajaj Auto
2.422.15
4.69
5.21 5.12
3.13
0.00
1.00
2.00
3.00
4.00
5.00
6.00
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Junior S&P CNX 500
0.11
-1.19
3.71
5.63
6.17
2.79
1.02
7.10
2.50
6.02
4.87
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
-1.18
-0.48
1.36
0.19
0.40
1.24
0.42
0.72
-0.01
-1.50
-1.00
-0.50
0.00
0.50
1.00
1.50
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
Beat the street - Fundamental Analysis
Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale subscription packages in Mumbai is still coming
•HT Media Limited is one of India's foremost media through and this will be reflected in its revenues
companies, and home to three leading newspapers over the next 3-4 months.
in the country in the English, Hindi and business •The increasing popularity of FM Radio, along with
segments – HindustanTimes, Hindustan and Mint. opening up of Phase III licences, will continue to
The Company also has four FM radio stations - offer major prospects for revenue growth for the
“Fever 104 ” in Delhi, Mumbai, Bengaluru and Company in its forward journey.
Kolkata. The company has various online properties Valuation
l i ke HindustanTimes.com, Sh ine.com, The management is confident that its diversified and
LiveMint.com and DesiMartini.com. resilient business model, established brands and
•Capex would be about `70-80 crore in FY 2015. sustained focus on cost reduction will continue to
Capital allocation of the company will mostly be in drive growth and create value. The company boasts
Hindi and new business like education, radio and of strong balance sheet capable of supporting
digital. For English newspaper it will not me much investments in growing businesses whilst exploring
in Delhi and NCR. But it will invest somewhat in new opportunities. We expect the stock to see a price
Mumbai English newspaper business. target of ̀ 152 in one year time frame on a target P/E
•Company's business outlook continues to be strong of 16x and FY15 (E) earnings of ̀ 9.52.
on the back of increasing returns in new businesses
like HT Mumbai, Radio. Going forward Hindi
business will contribute towards revenue growth
and improved profitability. The company is also
gaining traction in the digital businesses.
•For the quarter ended March 2014, circulation
revenues of print segment grew 14% to ̀ 65.5 crore
primarily driven by increase in realisation per copy
and advertising revenues of print segment
increased by 10% to `417.2 crore primarily driven
by increase in advertising yields.
•The average realization per copy to improve going
forward. The entire effect of increase in
` in cr
Actual Estimate
FY Mar-14 FY Mar-15 FY Mar-16
Revenue 2166.00 2381.80 2624.80EBITDA 312.50 365.20 429.10EBIT 226.70 292.50 308.20Pre-tax Profit 324.10 342.10 412.90Net Profit 207.50 218.30 257.70EPS 8.88 9.52 11.10BVPS 75.00 84.81 95.02ROE 13.90 11.20 12.00
Face Value (`) 2.00
52 Week High/Low 131.00/69.50
M.Cap (`Cr.) 2753.41
EPS (`) 8.92
P/E Ratio (times) 13.27
P/B Ratio (times) 1.58
Dividend Yield (%) 0.34
Stock Exchange BSE
HT MEDIA LIMITED CMP: 118.30 Upside: 29%Target Price: 152
P/E Chart
Face Value (`) 1.00
52 Week High/Low 318.40/119.45
M.Cap (`Cr.) 89563.59
EPS (`) 3.57
P/E Ratio (times) 84.62
P/B Ratio (times) 2.66
Dividend Yield (%) 1.08
Stock Exchange BSE
` in cr
Actual Estimate
FY Mar-14 FY Mar-15 FY Mar-16
Revenue 65733.30 80143.60 89925.00
EBITDA 19624.60 28007.20 30421.60
EBIT 12742.20 19397.10 21076.40
Pre-tax Profit 9721.30 16671.00 18089.10
Net Profit 6527.30 7112.50 8134.80
EPS 22.24 24.08 28.95
BVPS 246.23 274.50 296.96
ROE 14.40 9.70 10.90
% OF SHARE HOLDING
Investment Rationale Sterlite was `80,566 crore as at 31 March 2014. •Sesa Sterlite Limited, is a subsidiary of Vedanta This comprises long term loans of `68,381 crore
Resources plc, a London-listed company, and short term working capital loans of `12,185 primarily involves exploring, extracting and crore. Average rate of borrowing was 8.3% in FY processing minerals and oil & gas. Sesa Sterlite 2013-14. Average debt maturity is 3.4 years. On a has a strong position in emerging markets with consolidated basis, the debt equity ratio is over 80% of its revenues from India, China, East healthy at 0.8.Asia, Africa and the Middle East. Valuation
•The capital expenditure of the company is Company's focused on optimizing its assets, growing expected to be around US$250 million in FY'15. The production with continued cost control, and generating company expects mined metal and integrated strong cash flows across all businesses. Rampura refined metal production including silver in FY'15 to
Agucha will continue to provide the majority of mined be marginally higher from FY'14. The cost of metal in FY 2015. The Rampura Agucha underground production is expected to remain stable.mine is now developing as per expectations. In FY 2015, •The Kayad and Rampura Agucha (RA) underground
mine projects commenced commercial mined metal and integrated refined metal production production during the year and after initial including silver, is expected to be marginally higher difficulties, are now ramping up well. The
from FY2014. We expect the stock to see a price target company is also evaluating optimizing the RA
of `361 in one year time frame on a target P/E of 15x open pit, to ensure consistent output from the and FY15 (E) earnings of ̀ 24.08.mine. The Sindesar Khurd expansion project is as
per schedule.•During the year ended March 2014, total mine
development increased by over 75%, marking the beginning of transition from open-cast to underground mining.
•Treatment and Refining Charges (TC/RC) during the quarter ended March 2014 increased to 18.5 US cents/lb, which was 25% higher as compared to the corresponding prior period. Tc/Rc is expected to remain robust on the back of rising global mine supply from brownfield and greenfield expansions.
•The company continues to have a strong balance sheet with cash and liquid investments of `50797 crore as on 31 March 2014. Gross debt at Sesa
P/E Chart
SESA STERLITE LIMITED CMP: 302.10 Upside: 20%Target Price: 361
VALUE PARAMETERS
9.87.47
7.86
69.51
5.37 Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
26.74
7.45
3.14
54.96
7.71
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
6
®
Charts by Spider Software India Ltd
7
The stock closed at `1501.90 on 18thJuly 2014. It made a 52-week low at
`855.50 on 18th July 2013 and a 52-week high at `1590 on 28th February
2014.The 200 days Exponential Moving Average (EMA) of the stock on the daily
chart is currently at ̀ 827.99.
After making 52 week high of 1590 levels there was a marginal fall in this scrip.
Once again, it made fresh buying pivot near to 1300 levels to start its northward
journey. Last week also it moved in upward direction despite of slight profit
booking in other counters which shows its potential to move on a higher side. So,
one can buy in range of 1492-1497-levels for the upside target of 1555-1565
levels with closing below SL of 1470.
EQUITY
Above calls are recommended with a time horizon of 1-2 months
The stock closed at `161.00 on 18thJuly 2014. It made a 52-week low at `73 on
05th August 2013 and a 52-week high at ̀ 168.80 on 02nd July 2014. The 200 days
Exponential Moving Average (EMA) of the stock on the chart is currently at
`98.68.
It is in uptrend from last quarter of 2013. Looking at the charts it is clear that it
spiked on a higher note last week which shows it's potential to move further. So,
one can buy in range of 158-160 levels for the upside target of 173-176 levels
with closing below SL of 152.
daily
The stock closed at 137.95 on 18thJuly 2014. It made a 52-week low at 58.30
on 18th March 2014 and a 52-week high of ̀ 168.50 on 18th November 2013. The
200 days Exponential Moving Average (EMA) of the stock on the chart is
currently at ̀ 250.41.
It has formed a sort of V formation at lower levels which is bullish pattern. One
can buy in range of 133-134 levels for the upside target of 147-150 levels with
closing below SL of 127.
` `
daily
HCLTECH
MONNETISPAT
JB CHEM & PHARMA
®
DERIVATIVES
BASIS GAP IN NIFTY
Nifty future closed at a premium of 4 points indicating long unwinding and short buildup. The Nifty is expected to remain in the range of 7500-7700 levels this
week. The options concentration continues to be at the 7500-strike put option with an open interest of above 65 lakh shares. Among call options, the 7700-strike
holds the highest open interest of above 55 lakh shares .The put-call ratio of open interest remained flattish through the week, finally closing at 0.91 levels. The
implied volatility (IV) of call options closed at 13.73%, while the average IV of put options ended at 13.55%. As long as the Index holds the support of 7500 levels, a
range bound trade action is likely with the upside potential of up to 7800 level in the near-term. However, owing to the recovery tone from the recent low of 7440
level, the Index is likely to extend its gain towards 7800 level. But, an immediate close below 7600 level shall drag the Index towards 7500 level. Trade long in the
nifty above 7640 level . Alternatively, trade short if the Nifty slips below 7600 levels targeting 7500 support level.
WEEKLY VIEW OF THE MARKET
NIFTY TOTAL OPEN INTEREST (in share)
®
FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS
(Derivative segment) `(Cr)
ABIRLANUVO (JUL FUTURE)
Buy: Above `1420
Target: `1454
Stop loss: `1406
HINDPETRO
Buy JUL 390. PUT 7.35
Sell JUL 380. PUT 5.70
Lot size: 1000
BEP: 388.35
Max. Profit: 8350.00 (8.35*1000)
Max. Loss: 1650.00 (1.65*1000)
OPTIONSTRATEGY
FUTURESTRATEGY
HEROMOTOCO
Buy JUL 2550. CALL 32.50
Sell JUL 2600. CALL 20.50
Lot size: 125
BEP: 2562.00
Max. Profit: 4750.00 (38.00*125)
Max. Loss: 1500.00 ( 12.00*125)
AXISBANK
Buy JUL 2020. CALL 43.40
Sell JUL 2060. CALL 28.40
Lot size: 250
BEP: 2035.00
Max. Profit: 6250.00 (25.00*250)
Max. Loss: 3750.00 (15.00 *250)
BULLISH STRATEGY
DERIVATIVE STRATEGIES
BIOCON (JUL FUTURE)
Sell: Below `491
Target: `471
Stop loss: `499
GAIL (JUL FUTURE)
Sell: `442
Target: `432
Stop loss: `446
Below
BEARISH STRATEGY
FIIs ACTIVITY IN INDEX FUTURE (F&O) IN LAST WEEK
(Derivative segment) `(Cr)
-533.84
-24.74
503.12
67.30
520.00
-600.00
-400.00
-200.00
0.00
200.00
400.00
600.00
11-Jul 14-Jul 15-Jul 16-Jul 17-Jul
-860.87
-1487.39-1234.09
795.84
204.34
933.65
166.10
1184.69
1952.04
1331.04
-2000.00
-1500.00
-1000.00
-500.00
0.00
500.00
1000.00
1500.00
2000.00
2500.00
04-Jul 07-Jul 08-Jul 09-Jul 10-Jul 11-Jul 14-Jul 15-Jul 16-Jul 17-Jul
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
03-Jul 04-Jul 07-Jul 08-Jul 09-Jul 10-Jul 11-Jul 14-Jul 15-Jul 16-Jul 17-Jul
876700
63650 172400 354150
1072550
2425650
4263650
5447050
4921700
3446850
8759100
33050502945100
4050150
4944550
5348100
6681000
3771250
2109450
684200
178500
577200
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
9000000
10000000
7000 7100 7200 7300 7400 7500 7600 7700 7800 7900 8000
Call Put
8
9
BHARTIARTL 12638000 11852000 -6.22 0.30 0.32 0.02 31.36 26.99 -4.37
DLF 28776000 30328000 5.39 0.37 0.49 0.12 60.25 50.52 -9.73
HINDALCO 26188000 29330000 12.00 0.38 1.02 0.64 46.21 52.37 6.16
HINDUNILVR 5118000 5109500 -0.17 0.46 0.41 -0.05 29.07 27.27 -1.80
ICICIBANK 11719500 10267000 -12.39 0.58 0.49 -0.09 29.82 33.98 4.16
IDEA 29922000 28892000 -3.44 0.33 0.34 0.01 36.08 36.51 0.43
INFY 2858000 2867250 0.32 0.73 0.53 -0.20 25.10 26.35 1.25
ITC 24811000 23776000 -4.17 1.54 1.44 -0.09 25.43 23.01 -2.42
JPASSOCIAT 140960000 133672000 -5.17 0.35 0.41 0.07 57.91 55.83 -2.08
NTPC 56808000 59370000 4.51 0.21 0.23 0.01 40.46 33.84 -6.62
ONGC 22814000 22691000 -0.54 0.36 0.36 -0.01 44.64 42.70 -1.94
RANBAXY 6746000 6669000 -1.14 0.78 0.79 0.00 31.84 30.73 -1.11
RCOM 57284000 51870000 -9.45 0.25 0.26 0.01 48.88 43.86 -5.02
RELIANCE 22161000 23417750 5.67 0.35 0.37 0.03 27.27 26.13 -1.14
NIFTY 13716000 14815100 8.01 0.73 0.91 0.18 13.67 13.73 0.06
SAIL 56312000 56808000 0.88 0.26 0.31 0.05 49.90 39.99 -9.91
SBIN 5023875 4293000 -14.55 0.48 0.63 0.15 36.86 37.00 0.14
TATASTEEL 15084000 16279000 7.92 0.49 0.91 0.42 34.73 39.72 4.99
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 increased to
0.91from 0.73. At the end of the week, the maximum stocks had a positive of
change in put call open interest ratio.
Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week
has increased to13.73% from 13.67%.The IV of the stock futures has changed this
week ranging from 6.16% to -9.91%.
Open Interest Analysis : The open interest for the index at the end of this week
has increased by 8.01%as compared to the previous week. All future stocks saw
changes in their open interest ranging from -14.55% to12.00%. HINDALCOhas the
maximum decrease in open interest as compared to other stocks.
Statistical Analysis·
Open 7565.15 High 7674.70
Low 7445.00 Close 7658.75
NIFTY & IV CHART NIFTY ANALYSIS
®# 30 Days ATM IV
12
15
18
21
24
27
7400
7500
7600
7700
7800
11-Jul 14-Jul 15-Jul 16-Jul 17-Jul
Nifty Close IV
Turmeric futures (Aug) is likely to witness another round of consolidation in the range of 6400-6800 levels. The concerns over the fall in acreage in the new season may cap the downside. The acreage of the yellow spice in Telangana has declined to 13,931 hectares as on July 9 as compared to 24,665 hectares a year ago, data from the state agriculture department showed. In Andhra Pradesh, the acreage is pegged at 261 hectares as compared to 1,272 hectares a year ago. The Bull Run in coriander futures is likely to stay as heavy rainfall in the Kota division has resulted in restricted supply. There is a news that the major coriander market in Rajasthan closed as trader called for an indefinite strike to protest as against the Value Added Tax announced by the state government in the budget. The state government in the budget has announced to put 5% VAT on raw spices. The upside in jeera futures (Aug) is likely to get extended towards 12300 levels, surpassing 11950 levels. At the Unjha market, there is a good demand from overseas buyers, mainly from Bangladesh and Pakistan. In European market, cumin offered at $2,080-2,100/tonne, while it was available at $2,050-2,070 for Singapore 1% on FOB basis. The geopolitical tensions with Syria and Turkey have given way to concerns over supplies. Cardamom futures (Aug) is expected to trade in the range of 910-960 levels. After the resumption of auctions & commencement of first round harvesting, the exporters are actively buying the exportable variety available in the spot market. At the auctions held on 7th July, 2014 in Bodinayakannur, the average prices ruled between ̀ 725 and ̀ 771 a kg.
SPICES
Upside movement in the bullion counter may persist, continuing last week gains as tension in the Middle East and Ukraine will increase its the safe haven demand. Fresh tension in the Ukrainian peninsula and fresh sanctions by the US on Russia will keep the prices well supported. On the domestic bourses movement of the local currency rupee will impact the bullion counter, which can move in the range of 59.80-61. Gold may move in the range of 27400-29000 in MCX. White metal silver can hover in the range of 44000-47500. Gold prices were supported higher as downing of a Malaysian passenger jet over Ukraine and Israel's invasion of Gaza spurred haven demand. Last week a Malaysia Airlines jet was shot down over Ukraine, killing all 298 people on board. While the government in Kiev blamed the loss of the jet on pro-Russian rebels, the separatists denied the accusation. Recently gold demand from India also capped the downside. According to India's Commerce Ministry, the country's gold imports climbed 65 percent to $3.12 billion last month from $1.89 billion a year earlier, after the central bank allowed more banks and traders to buy bullion from abroad. Strong imports for June occurred outside of the seasonally busy wedding and festival season, which begins next month in August. Holdings in the SPDR Gold Trust, the largest gold-backed exchange traded product, retreated to $806.03 metric tonnes last week. American Eagle gold coins sales advanced 48,500 ounces in June, jumping 36.6% from the previous month's 35,500 ounces.
BULLIONS
10
®
Base metals counter may trade on mixed path as on the one side good economic data from China is supporting prices, but on the other side, weak housing data from US is capping the gains. China industrial production in China rose by an annualized rate of 9.2% in June compared to expectations for a 9% increase, after an 8.8% gain in the previous month. Recently US housing Starts were at 0.89 million in June with respect to 0.99 million a month ago. Red metal, copper can trade in the range of 420-445. Anglo American, one of the largest mining companies, reported higher copper output for the first half of the year. Recently announcement by the Chinese construction company that it may default has spurred concerns regarding the demand outlook. Data from Chinese Customs showed that China's imports of unwrought copper and copper semis fell 7.89% on the month and 7.88% year-on-year in June to 350,000 MT. Battery metal lead can move in the range of 128-134 in MCX. Zinc can hover in the range of 135-141. According to data from the General Administration of Customs, China has imported 310,974 MT of refined Zinc during the first five months of this year, up 27% from the same period in 2013 and at the fastest pace for that time of year since 2009. Nickel prices may hover in the range of 1100-1200 in MCX. Aluminum can move in the range of 117-122. Aluminium prices also continues to move higher as stockpiles tracked by the London Metal Exchange slumped amid signs of accelerating economic growth in China.
BASE METALS
Geopolitical tension and weakness of local currency rupee along with falling inventory data will give support to the crude oil prices in the near term. Meanwhile, any increase in tensions in Israel, Iraq and Ukraine will continue to push prices higher. Crude oil prices may trade in the range of 6000-6350 in MCX and $100-106 in NYMEX. Oil prices can get support as fears over intensified sanctions on Russia risked a tit-for-tat situation which may affect supplies from the (world's) second largest crude oil producer. Investors will also be keeping a close eye on the events in Gaza after Israel began a ground operation last week. Ukraine mobilized its army reserves as Russia, the world's biggest energy exporter, seized control of the Black Sea region of Crimea. Ukraine's state security service said it intercepted phone conversations among militants discussing the missile strike, which knocked Flight 17 from the sky about 30 kilometers (18 miles) from the Russian border. Natural gas prices may tad further on higher inventories and falling demand as it can move in the range of 225-245 in MCX. According to “EIA weekly stocks for the commodity for period ended July 11 rose by 107 BCF against the market expectations for an increase by 100 BCF” A mild summer in the nation's biggest gas consuming regions has eased concerns about supplies. Forecasts are showing temperatures as much as 10 degrees Fahrenheit cooler than normal in many of the biggest cities across the middle of the country, with no sign of a heat wave coming soon.
ENERGY COMPLEXSoybean futures (Oct) are likely to resume its uptrend to test 3850 levels, taking support above 3650 levels. In Madhya Pradesh, the state with the largest area under soybean, the acreage of the oilseed slumped 97% on year to just 166,000 ha as the rains have been weak in both the two subdivisions of the state. Rains during Jun 1 - July 16 have been 48% below normal and 44% below normal rainfall in western Madhya Pradesh and east Madhya Pradesh, respectively. On the other hand, demand in soya bean is expected to pick up on increased consumption for soya meal by poultry farms. On the international market, U.S soybean prices may trade range bound with downside, getting limited to reports of an indefinite strike by port workers in Argentina's Rosario hub. The weather would be closely watched by the market participants as U.S. farmers are expected to harvest a record-large soy crop due to large plantings, mild temperatures and occasional rainfall. CPO futures (Aug) is expected to remain steady taking support above 507 levels. It is reported that during the period Nov.'13 - June'14 the palm oil import has decreased to 4,931,095 tonnes from 5,753,688 tonnes during the same period of last year. However, to bridge the supply gap, soft oils import nearly doubled to 2,024,737 tonnes during the same period of last year. On the international market, there may be a temporary slowdown in palm oil output as plantation workers go on holiday for the Muslim festival of Eid al-Fitr. Refined soy oil futures (Aug) would possibly trade in the range of 660-680 levels with an upside bias tracking upside movement in domestic soybean prices & apprehension of getting fresh cues of demand ahead of the festive season.
OIL AND OILSEEDS
OTHER COMMODITIES
Kapas futures (Apr'15) is expected to consolidate in the range of 880-915 levels. The gains may remain trapped due to its bearish fundamentals of rising yield this season & surplus stocks. The projected balance sheet drawn by the Cotton Association of India shows that for the year 2013-14, the total cotton supply is estimated at 453.25 lakh bales, while the domestic consumption is estimated at 295 lakh bales, thus, leaving an available surplus of 158.25 lakh bales. The Cotton yarn exports from Indian pockets are declining this financial year to weak demand from China. It is reported that China has imported 218,600 tonnes of cotton in the month of June, down 19.1% on the year. Imports of cotton were affected by China's decision to auction off its state reserves. It plans to end the auctions in August, ahead of the domestic harvest. Sugar futures (Aug) may witness a downfall towards 3000 levels on the back of routine demand amid ample supply. As cited by the Indian Sugar Mills Association, with an estimated opening balance of sugar of around 75 lakh tonnes, as on 1st October, 2014 for the next sugar season and sugar production as estimated at 243 lakh tonnes, there will be more than sufficient sugar take care of domestic requirement of around 245 lakh tonnes next year. Chana futures (Aug) is likely to trade in the range of 2800-2920 levels. The delay in monsoon rainfall has affected sowing of pulses and the yield has been severely impacted in case of deficient or uneven distribution of rainfall. As on 11th July, kharif pulses have been sown on 1.35 million hectares as compared to 4.32 million hectares last year.
11
TECHNICAL RECOMMENDATIONS
COMMODITY
CRUDE OIL MCX (AUGUST) contract closed at ̀ 6195.00 on 17th July '14. The contract made its high of
`6483.00 on 23rd June '14 and a low of `5982.00 on 15th July '14. The 18-day Exponential Moving
Average of the commodity is currently at ̀ 6181. On the daily chart, the commodity has Relative Strength Index (14-day) value of 52. One can buy in the
range 6190-6170 with the stop loss of ̀ 6145 for a target of ̀ 6290.
GOLD MCX (AUGUST) contract closed at 28199.00 on 17th July '14. The contract made its high of
`28679.00 on 14th April '14 and a low of `25602.00 on 29th May '14. The 18-day Exponential Moving
Average of the Commodity is currently at ̀ 27732.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 59. One can sell in the
range 28250-28350 with the stop loss of ̀ 28520 for a target of ̀ 27900.
`
CHANA NCDEX (AUGUST) contract closed at 2874.00 on 17th July '14. The contract made its high of
`3056.00 on 17th June '14 and a low of ̀ 2750 on 8th July '14. The 18-day Exponential Moving Average of
the Commodity is currently at ̀ 2872.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 43. One can sell in the
range 2890-2910 with the stop loss of ̀ 2950 for a target of ̀ 2800.
`
®
CRUDE OIL MCX (AUGUST)
GOLD MCX (AUGUST)
CHANA NCDEX (AUGUST)
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 OCT 3737.00 05.06.14 DOWN 4401.00 - 3950.00 4150.00
NCDEX JEERA AUG 11715.00 22.05.14 UP 11125.00 11000.00 - 10500.00
NCDEX CHANA AUG 2876.00 15.05.14 DOWN 3233.00 - 3000.00 3100.00
NCDEX RM SEEDS AUG 3624.00 06.03.14 UP 3564.00 3400.00 - 3300.00
MCX MENTHA OIL AUG 728.90 29.05.14 SIDEWAYS
MCX CARDAMOM AUG 939.50 29.05.14 DOWN 907.60 - 960.00 980.00
MCX SILVER SEP 45579.00 19.06.14 UP 44311.00 44000.00 - 42000.00
MCX GOLD AUG 28199.00 19.06.14 UP 27611.00 27500.00 - 27000.00
MCX COPPER AUG 431.80 26.06.14 UP 424.95 425.00 - 415.00
MCX LEAD JULY 131.70 12.06.14 SIDEWAYS
MCX ZINC JULY 138.85 23.04.14 UP 126.45 134.00 - 130.00
MCX NICKEL JULY 1162.10 03.07.14 UP 1181.80 1120.00 - 1080.00
MCX ALUMINUM JULY 119.65 17.07.14 UP 119.65 115.00 - 112.00
MCX CRUDE OIL AUG 6195.00 12.06.14 UP 6290.00 6170.00 - 6150.00
MCX NATURAL GAS AUG 240.70 10.07.14 DOWN 249.10 - 252.00 270.00
TREND SHEET
Closing as on 17.07.14
COMMODITY
NEWS DIGEST
In the week gone by, commodities recovered after a multi week fall; CRB moved above 295 once
again. Escalating geopolitical tensions resulted in some recovery in gold as well as in silver but
one commodity reignited and it was crude oil. West Texas Intermediate and Brent crude headed
for the first weekly gain in a month after a Malaysian Air passenger jet was shot down in Ukraine
and Israel sent ground forces into the Gaza Strip. Furthermore crude stockpiles shrank by 7.53
million barrels last to last week, the most since January, while refineries operated at 93.8% of
capacity, as per Energy Information Administration report. Another commodity of energy counter
natural gas showed contra move last week. Natural gas futures entered into lower territory after
updated weather-forecasting models continued to call for below-normal temperatures sweeping
in from Canada into the Midwest to trek east. In industrial metals counter, buying stimulated in
zinc and aluminium while copper, nickel and lead closed down. Copper traded lower as a Chinese
builder warned of a possible bond default, stoking fears over the health of the property sector in
the world's top metals consumer. In bullion space, gold earlier traded weak but later on recovered
on geopolitical tension. Gold prices were under pressure after Federal Reserve Chair Janet Yellen
that the U.S. central bank could raise rates earlier or faster if hiring and wages take off in an
unexpected way. Gold imports by India jumped 65% to $3.12 billion in June from $1.89 billion a
year earlier, after the central bank allowed more banks and traders to buy bullion overseas, as per
the Commerce Ministry. Silver followed the footsteps of gold. Agri commodities were on the weaker side mostly. Castor seed futures closed down as traders
reduced their position on the back of weak spot demand. The fall in Mentha futures prices was
mostly due to profit-booking by speculators after recent gains and sluggish demand in the spot
markets for pharmaceutical units. Turmeric futures fell due to a revival in monsoon rains in key
producing southern states. Higher stocks available in the domestic market put pressure on prices.
Jeera prices propped up. Exporters were reported active in the domestic market at lower price
levels, continue export demand reported mainly in Unjha Mandi. Chana futures rebounded on
bargain buying, though ample supplies capped the upside. Oilseeds and edible oil counter, mostly
traded weak except soya bean.
WEEKLY COMMENTARY
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
COMMODITY UNIT 10.07.14 17.07.14 DIFFERENCEQTY. QTY.
BARLEY MT 7568 7032 -536CASTOR SEED MT 145155 151608 6453CHANA MT 123800 122336 -1464CORIANDER MT 560 590 30COTTONSEED OILCAKE MT 42283 37908 -4375GUARGUM MT 8642 8746 104GUARSEED MT 6323 7492 1169JEERA MT 1447 974 -473MAIZE MT 22644 24636 1992RAPE MUSTARD SEED MT 80866 72741 -8125SOYABEAN MT 39807 37938 -1869SUGAR MT 21977 23486 1509TURMERIC MT 615 705 90WHEAT MT 8207 8207 0
COMMODITY UNIT 10.07.14 17.07.14 DIFFERENCE
QTY. QTY.
CARDAMOM MT 10.00 11.50 1.50
COTTON BALES 78100.00 67500.00 -10600.00
KAPASIA KHALLI MT 99.10 0.00 -99.10
GOLD KGS 45.00 45.00 0.00
GOLD MINI KGS 12.00 6.60 -5.40
GOLD GUINEA KGS 8.08 8.07 -0.01
MENTHA OIL KGS 2246055.30 2785039.50 538984.20
SILVER (30 KG Bar) KGS 7627.20 6983.06 -644.14
•China's central bank has approved the launch of the country's first iron ore and thermal coal swap contracts.
•CME Group and Thomson Reuters will operate an electronic silver benchmark when the 117-year-old "fix" is disbanded in August.
•OPEC expects its share of the world oil market to shrink in 2015 for a third year running, due in part to the U.S. shale oil boom.
•India's gold imports were up by 65.13% to $3.12 billion in June this year from $1.88 billion in the same month last year.
•Economic Survey 2013-14 has given a thumbs-up to commodity futures, saying, “Commodity futures trading is essential for a modern food sector, as it generates forecasts about future prices that shape sowing and storage decisions across the country.”
•Maharashtra buys 10000 tonnes of sugar via NCDEX spot for PDS sale.
•Import of vegetable oils during June 2014 is down by 4% and reported at 883,679 tons compared to 947,591 tons in June, 2013. - The Solvent Extractors' Association of India
•The Rajasthan state Budget for 2014-15 reduced VAT on oilseeds from 5% to 3% but announced to put 5% VAT on raw spices including chili, turmeric, coriander, ajwain, methi and heeng for 2014-15.
•China imported 218,600 tonnes of cotton in the month of June, down 19.1 percent on the year, but up 13.9 percent compared with the previous month. - China Cotton Association
•Taiwan's Financial Supervisory Commission (FSC) has loosened controls on private equity (PE) by allowing domestic asset managers to raise funds for commodity-linked PE investments.
•The Nigeria Commodity Exchange (NCX), formerly known as the Abuja Commodities and Securities Exchange is set to boost agriculture development in the country with the introduction of electronic warehouse receipt system (e-WRS).
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
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NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
2.33
1.78 1.74
1.41
1.16
-4.41
-3.20
-2.91
-2.35
-1.95
-5.00
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
SOYAMEAL MAIZE KHARIF CRUDE OIL MAIZE RABI CHANA CASTOR SEED NEW SILVER NEW GUAR SEED 10 KAPAS PVC NEW
3.75
3.32
2.04
0.65
0.04
-4.60
-2.75
-2.03
-1.09 -1.07
-6.00
-5.00
-4.00
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
KAPASKHALI ALUMINIUM CRUDE OIL ZINC CARDAMOM NATURAL GAS MENTHA OIL GOLD PETAL (DEL) COPPER SILVER M
COMMODITY
COMMODITY EXCHANGE CONTRACT 11.07.14 17.07.14 CHANGE%
ALUMINIUM LME 3 MONTHS 1941.00 1989.00 2.47
COPPER LME 3 MONTHS 7156.00 7067.50 -1.24
LEAD LME 3 MONTHS 2206.00 2190.00 -0.73
NICKEL LME 3 MONTHS 19380.00 19200.00 -0.93
ZINC LME 3 MONTHS 2303.00 2302.00 -0.04
GOLD COMEX AUG 1337.40 1316.90 -1.53
SILVER COMEX SEPT 21.46 21.13 -1.52
LIGHT CRUDE OIL NYMEX AUG 100.83 103.19 2.34
NATURAL GAS NYMEX AUG 4.15 3.95 -4.63
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
10.07.14 17.07.14
ALUMINIUM 5024225 4976200 -48025
COPPER 159075 159175 100
NICKEL 306828 308418 1590
LEAD 213600 213375 -225
ZINC 662525 657725 -4800
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 11.07.14 17.07.14 CHANGE(%)
Soya CBOT NOV Cent per Bushel 1075.00 1094.00 1.77
Maize CBOT DEC Cent per Bushel 384.75 387.25 0.65
CPO BMD SEPT MYR per MT 2346.00 2316.00 -1.28
Sugar LIFFE OCT 10 cents per MT 454.30 450.20 -0.90
13
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SPOT PRICES (% change) Gold…... Glittered yesterday, sparkling today, will shine forever !!!
Gold is up by 8.66% so far this year on the international market, the second best
performer after Indian stock market. Gold started the year at $1,202 an ounce and
soared to $1,306.7 an ounce by 15th July, 2014. The gold price has outperformed
almost all other assets as U.S. policy makers pledged to keep interest rates low.
Some investors took advantage of last year's price correction to buy gold but
investment demand has remained tepid.
The reasons back stage: Central bank net purchases have picked up, adding
approximately 180 tonnes to official reserves from January to May. At the same time,
jewellery demand had its best first quarter since 2005. While investment demand in
some sectors has in fact been tepid, however the interest in gold is gaining
momentum. Net long positions in the futures market have gradually increased as
short positions have been covered, ETFs have experienced inflows in recent months,
and coin sales are increasing. The World Gold Council considers that these two
factors support the case for investing in gold for the following reasons: a) An excess
of lower-quality bonds (and other fixed income assets) increases risk in the financial
system and the likelihood of a market correction; b) Volatility appears too low to us
and may create an opportunity for investors to buy portfolio protection as a means of
prudent (and long-term) risk management.
Low volatility suggests that now is the time to buy portfolio protection While gold
prices are up, its volatility is down. Way down. It is currently below 11% on a 30-day
rolling basis – close to its all time low. Yet, gold is not alone. Global equities,
commodities, and currencies are experiencing significantly lower levels of (realised)
volatility. The main drivers of this low-volatility environment have been tighter
credit spreads and higher profit margins – the end result of an extended period of
easy monetary policies and looser credit conditions.
Current scenario: There are apprehensions in the global markets that demand may
spur as holdings in the largest exchange-traded product backed by the metal
expanded to the highest level since April. Holdings in the SPDR Gold Trust climbed
this year, rebounding from a 41 percent contraction in 2013. Prices of the precious
metal may stabilize & consolidate in the range of $1,200 - $1,400 levels with
downside getting limited as worries about geopolitical instability and hopes that the
Fed would delay raising interest rates lured investors back into the market. On the
other hand, the worries about higher interest rates continue to haunt the gold
market, keeping any rallies muted.
-4.57
-3.83
-3.79
-3.50
-2.64
-2.36
-2.12
-1.26
-0.90
-0.04
0.07
0.99
2.23
2.38
2.92
3.03
6.27
7.03
7.11
7.74
8.19
8.66
18.85
-10.00 -5.00 0.00 5.00 10.00 15.00 20.00
Nikkei
Crude Oil (NYMEX)
Copper (LME)
Japanese Yen/USD
INR/USD
Natural Gas (NYMEX)
Shanghai Composite
Dollar Index
Euro/USD
FTSE
Hang Sang
CAC
DJ EuroStox
DAX
Dow Jones
LMEX
CRB
US Treasury
S&P 500
Silver (COMEX)
Bovespa
Gold (COMEX)
Nifty
Asset class performance from 1st Jan'14 to 15th July '14
-2.77
-2.29
-1.85
-1.74
-1.26
-0.85
-0.76
-0.52
0.07
0.41
1.20
1.59
1.92
2.10
2.21
2.62
3.31
3.64
-4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00
SILVER 5 KG (DELHI)
GOLD 10 GMS (MUMBAI)
RAW JUTE (KOLKATA)
GUAR GUM (JODHPUR)
GUAR SEED (JODHPUR)
RUBBER (KOCHI)
REFINED SOYA OIL (INDORE)
CRUDE PALM OIL (KANDLA)
PEPPER MALABAR GAR (KOCHI)
GUR (MUZAFFARNGR.)
BARLEY (JAIPUR)
MASOOR (INDORE)
TURMERIC (NIZAMABAD)
SOYABEAN (INDORE)
MUSTARD (JAIPUR)
JEERA (UNJHA)
CORIANDER (KOTA)
CHANA (DELHI )
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 60.18 60.41 60.08 60.31
EUR/INR 81.75 82.27 81.40 81.58
GBP/INR 102.90 103.45 102.76 103.09
JPY/INR 59.30 59.51 58.99 59.43
(Source: FX Central, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
News Flows of last week
16th July U.S. homebuilder sentiment rose in July to a six-month high
16th July U.S. manufacturing output rose at its fastest pace in more than two years
16th July IMF congratulates BRICS for new fund, offers help
16th July Euro zone inflation stayed low as expected in what the European Central Bank calls the "danger zone" in June
17th July Fed seen likely to raise rates in 2nd quarter of 2015: Reuters poll
17th July U.S. housing starts and building permits unexpectedly fell in June
17th July The number of Americans filing new claims for unemployment benefits unexpectedly fell last week
EUR/INR (JULY) contract closed at 81.58 on 17th July'14. The contract made its high of `82.27 on 14th July'14 and a low of `81.40 on 17thJuly'14 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 81.80.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 49.05. One can buy above 82.50 for a target of 83.75 with the stop loss of 81.75
`
JPY/INR (JULY) contract closed at 59.43 on 17thJuly'14. The contract made its high of 59.51 on 14th July'14 and a low of `58.99 on 17th July'14 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 59.26.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 58.08. One can buy above 59.90 for a target of 61.00 with the stop loss of 59.35.
Market Stance
Indian rupee traded in a narrow range during the week but weakened in later
part to settle on negative side and traded at six week low as against the US
dollar on local bourses on back of high demand for the American currency from
importers. Moreover, rising crude oil prices in global markets put pressure on
the rupee along with weakness in local equities. Global equities also
witnessed sharp fall during weekend session as investors turned risk averse on
news that a Malaysian Airlines passenger jet was shot near the Ukraine- Russia
border. However sharp losses remain capped amid dollar weakness against
other currencies in overseas market. In other currencies, sterling hit a 22-
month high against the euro as traders wagered on an increasingly divergent
monetary outlook between Britain and the Euro zone.
EUR/INR
USD/INR (JULY) contract closed at ̀ 60.31 on 17th July'14. The contract made its high of `60.41 on 16th July'14 and a low of `60.08 on 14thJuly'14 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 60.22
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 56.91. One can buy above 60.60 for a target of 61.70 with the stop loss of 60.00
GBP/INR (JULY) contract closed at 103.09 on 17th July'14. The contract made its high of 103.45 on 16th July'14 and a low of ̀ 102.76 on 15thJuly'14 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at ̀ 102.93.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 61.13. One can buy above 103.60 for a target of 104.80 with the stop loss of 102.90.
`
USD/INRTechnical Recommendation
GBP/INR JPY/INR
Economic gauge for the next week
Date Currency Event PREVIOUS
22nd July USD Consumer Price Index (MoM) 0.40% 22nd July USD Consumer Price Index (YoY) 2.10% 22nd July USD Consumer Price Index Ex Food & Energy (YoY) 2.00% 22nd July USD House Price Index (MoM) 0.00% 22nd July USD Existing Home Sales (MoM) 4.90% 23rd July GBP Bank of England Minutes 23rd July EUR Euro-Zone Consumer Confidence -7.5 24th July GBP Retail Sales (YoY) 4.70% 24th July USD New Home Sales (MoM) 18.60% 24th July JPY National Consumer Price Index (YoY) 3.70% 25th July EUR German IFO - Current Assessment 114.8 25th July GBP Gross Domestic Product (YoY) 3.00% 25th July GBP Gross Domestic Product (QoQ) 0.80% 25th July USD Durable Goods Orders -1.00%
14
®®
IPO
IPO NEWSIPO NEWS
Bhanderi Infracon's ̀ 6.48 cr IPO to open on July 22
Bhanderi Infracon has come out with its initial public offerings (IPO) of 5.40 lakh equity shares of ̀ 10 each fully paid up for cash at a price of ̀ 120 per
equity share, aggregating to ̀ 6.48 crore. The issue will open for subscription on July 22 and the same has scheduled to close on July 25, 2014. The equity
shares are proposed to be listed on the SME platform of the BSE. Currently, the company is engaged in development of residential flats and bungalows
under partnership firms, namely: Tulsi Enterprises and Dharnidhar Developers respectively. The main objectives of the issue are to meet the
incremental working capital requirements and expenses towards general corporate purposes. Choice Capital Advisors Private Limited is the book
running lead manager to the issue and Purva Sharegistry (India) Private Limited is a registrar to the issue.
Videocon d2h likely to bring IPO this fiscal
Direct to home service provider Videocon d2h is likely to go ahead with its proposed public float (IPO) plan this financial year, according to a top
company official. The company had received the permission from market regulator Sebi in March 2013 for its proposed `700-crore IPO but did not
launch the same due to bad market conditions.
Lodha Developers Pvt to raise $1 billion via IPO
Lodha Developers Pvt, which is building the world's tallest residential tower, is planning an initial public offering (IPO) that may raise as much as $1
billion, said people with knowledge of the matter. The sale may value Mumbai based Lodha at as much as $10 billion, according to one of the people.
The company will probably start trading next year, two of the people said, asking not to be identified as the deliberations are confidential. Lodha is
seeking a listing after home prices in Mumbai more than doubled in the five years through March, according to data from Liases Foras Real Estate Rating
& Research Pvt. A $1 billion IPO would be India's biggest since 2010, when CIL's share sale raised $3.4 billion, data compiled by Bloomberg show. The
company is building the 117-storey World One residential tower, which it says will be the world's tallest at 423 metres.
IndiGo picks six banks for IPO of up to $400 mn
IndiGo has picked six lead managers for its initial public offering, which could be worth up to $400 million, three people involved in the deal said. The
carrier will be listed in Mumbai early next year depending on market conditions, said the sources, who declined to be named as the process is not public
yet. IndiGo, which is owned by InterGlobe Enterprises, whose interests cover aviation, hospitality and travel-related services, has picked Citigroup,
Morgan Stanley and Deutsche Bank to manage the issue, along with Standard Chartered, JPMorgan Chase and India's Kotak Mahindra Bank.
Inox Winds aims to raise ̀ 1,000 crore via IPO
Optimistic about the next wave of growth in wind power, the $2 billion Inox Group is looking at the capital market for Inox Wind Ltd to raise around
`1,000 crore by this fiscal. The company will dilute only a minority stake in the proposed public offer. Wind power solutions providers since 2010, Inox
Wind is a subsidiary of listed Gujarat Fluorochemicals. The other publicly held company under the group is Inox Leisure.
Coffee Day Resorts to raise up to ̀ 1,500 crore via IPO
The holding company of Cafe Coffee Day, India's biggest cafe chain, is gearing up to mop up ̀ 1,200-1,500 crore through a proposed initial public offering
(IPO) in about nine to 12 months. The domestic listing will see the holding company, Coffee Day Resorts, sell 10-15 per cent for $150 million (`900
crore), valuing the group backed by KKR & Co at about $1 billion. Private equity (PE) investors are expected to dilute up to 10 per cent of their stake.
15
®*Closing prices as on 17-07-2014
IPO TRACKER
Wonderla Holidays Entertainment 1305.17 181.25 9-May-14 125.00 164.75 231.00 84.80
Just Dial service provider 11023.46 950.11 5-Jun-13 530.00 590.00 1571.00 196.42
Repco Home Fin Finance 2966.90 270.39 1-Apr-13 172.00 165.00 477.30 177.50
V-Mart Retail Trading 664.52 123.00 20-Feb-13 210.00 216.00 370.00 76.19
Bharti Infra. Telecom 50086.06 4533.60 28-Dec-12 220.00 200.00 265.00 20.45
PC Jeweller Jewellary 2145.62 609.30 27-Dec-12 135.00 135.50 119.80 -11.26
CARE Rating Agency 3330.51 540.00 26-Dec-12 750.00 949.00 1148.45 53.13
Tara Jewels Jewellary 246.20 179.50 6-Dec-12 230.00 242.00 100.00 -56.52
VKS Projects Engineering 20.79 55.00 18-Jul-12 55.00 55.80 0.33 -99.40
Speciality Rest. Restaurants 692.89 181.96 30-May-12 150.00 153.00 147.55 -1.63
Company Sector M.Cap(In ̀ Cr.) Issue Size(in `Cr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)
*
16
®
MUTUAL FUND
NEWS
Reliance MF introduces Dual Advantage Fixed Tenure Fund VI- Plan A
Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Dual Advantage Fixed Tenure Fund VI- Plan A, a close ended income scheme. The NFO
opens for subscription on Jul 15, 2014 and closes on Jul 28, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount
is `5000 per option and in multiples of `1. The scheme's performance will be benchmarked against Crisil MIP Blended Fund Index and its fund managers are
Krishan Daga and Anju Chajjer. The investment objective of the scheme is to generate returns and reduce interest rate volatility, through a portfolio of fixed
income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure.
Reliance MF introduces Fixed Horizon Fund Series VI-1100 Days Plan E
Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Capital Protection Oriented Fund-Series VI-1100 Days Plan E, a close ended income
scheme. The NFO opens for subscription on July 16, 2014 and closes on July 30, 2014. No entry load or exit load will be applicable for the scheme. The minimum
subscription amount is ̀ 5000 and in multiples of Re 1 thereafter. The scheme's performance will be benchmarked against Crisil Short Term Bond Fund Index and
its fund manager is Amit Tripathi. The investment objective of the scheme is to seek to generate returns and growth of capital by investing in a diversified
portfolio of the following securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility Central and
State Government securities and Other fixed income/ debt securities
UTI MF introduces FTIF Series XIX-XIV (1832 Days)
UTI Mutual Fund has launched the New Fund Offer (NFO) of UTI FTIF Series XIX-XIV (1832 Days), a close ended income scheme. The NFO opens for subscription on
July 16, 2014 and closes on July 25, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is `5000 and in
multiples of Re 1 thereafter. The investment objective of the scheme is to generate returns by investing in portfolio of fixed income securities maturing on or
before the date of maturity of the scheme. However the scheme does not guarantee / indicate any return.
AXIS MF introduces Fixed Term Plan-Series 69 (3 Years),
AXIS Mutual Fund has launched the New Fund Offer (NFO) of AXIS Fixed Term Plan - Series 69 (3 Years), a close ended income scheme. The NFO opens for
subscription on July 16, 2014 and closes on July 23, 2014.No entry load or exit load will be applicable for the scheme. The minimum subscription amount is ̀ 5000
and in multiples of Re. 10 thereafter. The investment objective of the scheme is to generate returns through a portfolio of debt & money market instruments that
are maturing on or before the maturity of the respective plan(s).
ICICI Pru MF introduces Capital Protection Oriented Fund-Series VI-1100 Days Plan E
ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) of ICICI Prudential Capital Protection Oriented Fund-Series VI-1100 Days Plan E, a close
ended income scheme. The NFO opens for subscription on July 16, 2014 and closes on July 30, 2014. The investment objective of the scheme is to seek to protect
capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing
the balance in equity and equity related securities. The debt securities would mature on or before the maturity of the Scheme.
IIFL Mutual Fund files offer document for India Growth fund
IIFL Mutual Fund has filed offer document with SEBI to launch an open-ended Equity Scheme as "IIFL India Growth Fund". The New Fund Offer price is ̀ 10 per unit.
The investment objective of the scheme is to generate long term capital appreciation for investors from a portfolio of equity and equity related securities
SBI Mutual Fund files offer document for Banking & Financial Services Fund
SBI Mutual Fund has filed offer document with SEBI to launch an open-ended sector fund as "SBI Banking & Financial Services Fund". The New Fund Offer price is
`10 per unit. The investment objective of the scheme is to generate long-term capital appreciation to unit holders from a portfolio that is invested
predominantly in equity and equity related securities of companies engaged in banking and financial services.
Deutsche MF introduces Fixed Maturity Plan - Series
Deutsche Mutual Fund has launched the New Fund Offer (NFO) of Deutsche Fixed Maturity Plan - Series 74 (2 years), a close ended income scheme. The NFO opens
for subscription on Jul 09, 2014 and closes on Jul 18, 2014. The investment objective of the scheme is to generate income by investing in debt and money market
instruments maturing on or before the date of the maturity of the Scheme.
17
®
NFOs WATCH
Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount
07-Jul-2014 21-Jul-2014 Close-Ended Growth `5000UTI-Capital Protection Oriented Scheme-Series IV- I (1103 Days)-Regular (G)
Sunil Patilto endeavor to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as secondary objective.
18-Jul-2014 31-Jul-2014 Close-Ended Growth `5000Birla Sun Life Emerging Leaders Fund - Series 4-Regular Plan (G)
Mahesh Patil /
Milind Bafna
T o generate long-term capital appreciation by investing predominantly in equity and equity related securities of Small & Mid Cap companies.
18
MUTUAL FUND Performance Charts
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Reliance Small Cap Fund - Growth 19.29 16-Sep-2010 566.21 39.82 60.74 106.64 24.51 18.69 2.52 0.77 0.35 6.23 49.67 31.52 12.59
HSBC Midcap Equity Fund - Growth 31.17 19-May-2005 127.72 32.97 59.13 100.64 15.75 13.21 2.92 0.95 0.14 7.61 76.42 11.06 4.91
Birla Sun Life Pure Value Fund - Growth 33.15 27-Mar-2008 109.15 40.43 75.81 95.68 24.70 20.92 3.02 1.02 0.31 26.77 46.05 10.24 16.94
ICICI Prudential MidCap Fund - Growth 56.37 28-Oct-2004 329.37 33.83 57.50 91.28 19.80 19.47 2.39 0.79 0.25 27.87 57.77 5.65 8.72
Sundaram SMILE Fund - Reg - Growth 51.05 15-Feb-2005 335.87 40.56 66.36 86.95 17.83 18.89 2.98 1.06 0.13 2.79 63.35 32.60 1.26
DSP BlackRock Micro Cap Fund - Reg - G 28.00 14-Jun-2007 522.43 35.59 57.49 83.07 20.73 15.62 2.33 0.71 0.26 3.50 63.65 22.77 10.09
UTI Mid Cap Fund - Growth 58.94 09-Apr-2004 963.98 28.42 50.97 80.70 21.74 19.91 2.28 0.80 0.28 19.10 71.48 6.87 2.55
EQUITY (Diversified)
BALANCED
INCOME FUND
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 10/07/2014Beta, 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 QAAUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
HDFC Prudence Fund - Growth 340.22 01-Feb-1994 5833.88 24.34 40.06 55.75 15.94 20.34 2.09 1.04 0.09 33.24 32.68 5.3328.75
HDFC Balanced Fund - Growth 90.80 11-Sep-2000 1502.72 19.32 31.88 48.69 15.72 17.26 1.52 0.73 0.13 27.95 41.02 0.2230.80
Reliance RSF - Balanced - Growth 34.21 08-Jun-2005 570.58 20.31 31.39 41.56 14.83 14.45 1.67 0.87 0.08 54.63 15.35 4.1325.89
ICICI Prudential Balanced - Growth 78.34 03-Nov-1999 777.19 17.73 27.82 40.80 17.41 15.02 1.49 0.77 0.17 43.26 24.43 1.6930.63
L&T India Prudence Fund - Growth 15.74 07-Feb-2011 59.97 17.76 27.34 39.09 15.55 14.10 1.46 0.75 0.14 32.79 30.91 5.5430.76
Birla Sun Life 95 - Growth 469.25 10-Feb-1995 736.32 18.00 29.01 38.69 14.40 21.89 1.60 0.86 0.09 44.94 27.85 --27.21
Tata Balanced Fund - Plan A - Growth 134.89 08-Oct-1995 648.52 19.37 28.51 38.45 16.65 16.76 1.60 0.82 0.12 42.71 30.59 1.6725.03
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch QAAUM Since Std. SharpeMaturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
UTI Dynamic Bond Fund - Growth 14.40 23-Jun-2010 408.69 0.07 0.14 0.71 6.44 11.70 9.85 9.38 0.30 0.18 948.38 N.A
Franklin India Cor. Bond Oppor. Fund - G 13.01 07-Dec-2011 6224.08 -0.20 -0.04 0.22 5.20 11.30 N.A 10.60 0.28 0.17 1003.75 10.57
Franklin India Income Oppor. Fund - G 14.86 11-Dec-2009 3991.55 -0.15 N.A 0.30 4.94 10.85 9.57 9.00 0.26 0.17 894.25 10.57
UTI Income Opportunities Fund - G 11.52 19-Nov-2012 554.53 -0.15 -0.04 0.37 5.08 10.61 N.A 8.93 0.31 0.10 854.39 N.A
Tata Dynamic Bond Fund - Plan A - G 19.59 03-Sep-2003 289.67 0.02 -0.08 0.07 4.77 10.58 9.15 6.37 0.60 0.10 1759.30 8.90
L&T Income Opportunities Fund - G 14.39 08-Oct-2009 555.72 -0.11 0.06 0.39 5.05 10.52 8.53 7.92 0.25 0.04 693.50 8.20
L&T Income Opportunities Fund - Ret - G 14.17 08-Oct-2009 555.72 -0.11 0.06 0.39 5.05 10.52 8.24 7.56 0.25 0.03 693.50 8.20
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Birla Sun Life Medium Term Plan - Reg - G 15.74 25-Mar-2009 2957.64 -0.16 -0.03 0.36 5.44 11.32 10.62 8.91 0.24 0.26 N.A 10.45
Birla Sun Life Dynamic Bond Fund - Ret - DAP 15.21 08-Apr-2009 9289.91 0.29 -0.03 -0.03 5.22 9.27 9.27 8.27 0.37 0.08 N.A 8.83
Birla Sun Life Dynamic Bond Fund - Ret - G 21.98 24-Sep-2004 9289.91 0.29 -0.03 -0.03 5.22 9.27 9.27 8.36 0.37 0.09 N.A 8.83
Kotak Income Opportunities Fund - G 13.92 11-May-2010 891.92 -0.03 0.08 0.41 5.10 10.68 9.04 8.21 0.28 0.11 821.25 10.60
Birla Sun Life Short Term Oppor. Fund - Reg - G 21.16 24-Apr-2003 3393.74 -0.22 -0.09 0.24 5.02 10.59 10.37 6.89 0.23 0.27 N.A 9.79
DSP BlackRock Income Oppor. Fund - Reg - G 20.77 13-May-2003 1151.80 -0.18 -0.06 0.23 5.00 10.44 8.86 6.75 0.20 0.15 1000.10 10.55
UTI Short Term Income Fund - Ret - G 22.84 23-Jun-2003 2754.86 0.10 0.17 0.54 4.98 10.64 9.79 7.75 0.23 0.20 747.01 N.A
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Birla Sun Life Tre. Optimizer Plan - Ret - G 239.60 19-Apr-2002 700.74 -0.20 -0.07 0.23 5.46 10.90 9.67 7.39 0.10 0.42 N.A 9.21
Birla Sun Life Treasury Optimizer Plan - DAP 147.92 22-Jun-2009 700.74 -0.20 -0.07 0.23 5.39 10.64 9.45 8.03 0.10 0.36 N.A 9.21
Franklin India Low Duration Fund - G 14.35 26-Jul-2010 2032.05 0.12 0.30 0.68 4.93 10.29 9.84 9.50 0.08 0.56 164.25 9.66
Kotak Banking and PSU Debt Fund - G 29.27 29-Dec-1998 960.01 0.14 0.29 0.68 4.80 11.54 9.06 7.15 0.22 0.15 73.00 8.90
IDFC Ultra Short Term Fund - Reg - G 18.37 17-Jan-2006 2204.38 0.12 0.27 0.67 4.77 10.17 9.77 7.41 0.07 0.55 156.00 8.93
DWS Treasury Fund - Investment - G 14.52 09-Oct-2009 1813.37 0.11 0.22 0.64 4.73 9.73 9.13 8.13 0.13 0.24 255.50 8.83
Birla Sun Life Savings Fund - Ret - G 244.32 27-Nov-2001 6314.40 0.11 0.26 0.60 4.72 10.22 9.39 7.32 0.08 0.46 N.A 9.08
Annualised
®
SMC Celebrating 25th Founders Day on 16th July, 2014
