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2016: Issue 539, Week: 08th - 11th August

A Weekly Update from SMC


(For private circulation only)

Brand smc 363

WISE M NEY

RUN FOR INDIA'S WIN!

SMC WISHES INDIAN ATHLETLES FOR

RIO 2016 OLYMPIC GAMES

AUGUST 5TH-21ST

From The Desk Of Editor


Contents
Equity

4-7

Derivatives

8-9

Commodity

10-13

lobal markets gained after seeing rebound in crude prices and policy easing by the
Bank of England (BOE) in response to the concerns over the impact of Brexit. BOE
cut the growth forecast for the U.K. and cut the interest rate for the first time

14

since 2009 and announced additional stimulus to spend 70 billion pounds on bond purchases

IPO

15

to spur demand. The Japanese government announced additional spending of 4.6 trillion

FD Monitor

16

yen ($45 billion) in the current fiscal to shore up the growth in the economy. Chinese official

Insurance

17

factory gauge unexpectedly fell below the dividing line between improvement and

Mutual Fund

18

Currency

deterioration to 49.9 last month, below June's 50 signaling a debt-fueled growth rebound
may be losing steam.
Back at home, Modi government got the approval of the India's biggest reform i.e. goods

SMC RESEARCH TEAM


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

and services tax legislation by the upper house of parliament. The ultimate impact would
depend upon the details and the rate of tax that will be negotiated over the next few
months. As per reports, the GST amendment bill will be tabled in the Lok Sabha on 8 August
2016. The bill requires ratification by 50% states after its passage by the Parliament,
followed by the Presidential assent of Constitution Amendment and notification in the

Tel: 91-22-67341600, Fax: 91-22-28805606


KOLKATA OFFICE:
18,Rabindra Sarani, Poddar Court, Gate No-4,5th Floor, Kolkata-700001

official Gazette. Going next week, Reserve Bank of India monetary policy review is
scheduled on 9th August. It is widely expected that the RBI will keep the status quo.

Tel : 91-33-39847000 Fax No : 91-33-39847004


AHMEDABAD OFFICE :

Meanwhile, the government has notified 4 percent inflation target with a range of

10/A, 4th Floor, Kalapurnam Building, Near Municipal Market,

plus/minus 2 percent for the next five years under the monetary policy framework

C G Road, Ahmedabad-380009, Gujarat


Tel : 91-79-26424801 - 05, 40049801 - 03
CHENNAI OFFICE:

agreement with the Reserve Bank. Market participants are eyeing on the economic data out
of U.S. to gauge whether the Federal Reserve would stick to continue to monetary

Salzburg Square, Flat No.1, III rd Floor, Door No.107, Harrington Road,
Chetpet, Chennai - 600031.

tightening in 2016.

Tel: 044-39109100, Fax -044- 39109111


SECUNDERABAD OFFICE:
206, 3rd Floor, above CMR Exclusive, Bhuvana Towers, S.D.Road,

On the commodity market front, CRB recovered to some extent on the back of a recovery in
precious metals, energy and in some Agri commodities like oil seeds, sugar etc. Recently

Secunderabad - 500003
Tel: 91-40-30780298/99, 39109536

safe haven demand supported the gold prices and it is likely to trade with upside bias in

DUBAI OFFICE:

coming days as well on weak economic releases. Gold can trade in the range of 31000-32500

312, Belshalat Building, Al Karama, Dubai, P.O. Box 117210, U.A.E.


Tel: 97143963120, Mobile : 971502612483
Fax : 9714 3963122
Email ID : pankaj@smccomex.com
smcdmcc@gmail.com

levels while silver can move in the range of 45500-49000 levels in the near term. Crude oil
prices may continue their downside movement amid fear of supply glut and lack of demand.
Overall, it can move in the range of 2650-2960 levels in MCX. In the base metal counter,
weakness may persist on China slowdown concerns and slow global demand. CPI of China,

Printed and Published on behalf of


Mr. Saurabh Jain @ Publication Address

New Yuan Loans, Reserve Bank of New Zealand Rate Decision, CPI of Germany, GDP of

11/6B, Shanti Chamber, Pusa Road, New Delhi-110005

Germany, Italy and euro zone, Advance Retail Sales and U. of Michigan Confidence of US etc

Website: www.smcindiaonline.com
Investor Grievance : smc@smcindiaonline.com

are some of the important events and data, which may impact the commodities prices.

Printed at: S&S MARKETING


102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Ph.: +91-11- 43035012, 43035014, Email: ss@sandsmarketing.in

(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.
SMC Global Securities Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a further public offering of its equity shares and has filed the Draft Red Herring Prospectus with the
Securities and Exchange Board of India (SEBI) and the Stock Exchanges. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and on the websites of the Book Running Lead Manager i.e., ICICI
Securities Limited at www.icicisecurities.com and the Co- Book Running Lead Manager i.e., Elara Capital (India) Private Limited at www.elaracapital.com . Investors should note that investment in equity shares involves a high degree
of risk and for details relating to the same, please see the section titled Risk Factors of the aforementioned offer document.

NEWS

TREND SHEET
DOMESTIC NEWS

Economy
Rajya Sabha unanimously passed a historic Constitution Amendment bill that
will pave the way for a Goods and Services (GST) in the country in what will
be one of the most significant tax reform measures ever in India. The GST
will be an indirect tax for the whole nation, which will make India one
unified common market. It will be a single tax on the supply of goods and
services, right from the manufacturer to the consumer.
Auto Ancillary
Bosch is set to implement smart manufacturing at all its 15 manufacturing
centres in India. This is in line with its global strategy of embracing Industry
4.0 or connected industry that combines manufacturing with Internet of
things and technology.
Realty
NBCC has bagged a `250 crore contract to construct a hospital in West Bengal.
The company has also secured a total business of `344.72 crore in July.
Pharmaceuticals
Natco Pharma has received final approval from the US Food and Drug
Administration (USFDA) for its Abbreviated New Drug Application (ANDA) of
generic versions of Tamiflu oral capsules, 30 mg, 45 mg and 75 mg.
Dr Reddy's has successfully completed the acquisition of eight Abbreviated
New Drug Applications (ANDAs) in the US from Teva Pharmaceuticals
Industries and an affiliate of Allergan Plc. The acquired portfolio consists of
products that are being divested by Teva as a precondition to its closing of
acquisition of Allergan's generics business. In June, the company had entered
an agreement with Teva to buy this portfolio of ANDAs for $ 350 million.
Lupin expects to launch up to 30 drugs in the US market in the current fiscal
while it awaits approval of around 160 products from the US Food and Drug
Administration (USFDA). The Mumbai-based firm said products filings have
been made to the US health regulator from company's Indian as well as
overseas facilities.
Gems & Jewlery
PC Jeweller is opening its new showroom Sunday, 07 August 2016, at
Najafgarh (Delhi), after this the Company will have total 64 showrooms
located across 52 cities in India.
Capital Goods
Suzlon Energy expects to exit corporate debt restructuring (CDR) by the end
of the current financial year in March 2017.
INTERNATIONAL NEWS
US factory orders tumbled by 1.5 percent in June after slumping by 1.2 percent
in May. Economists had expected orders to plunge by 1.8 percent compared to
the 1.0 percent drop originally reported for the previous month.
US jobless claims rose to 269,000, an increase of 3,000 from the previous
week's unrevised level of 266,000. Economists had expected claims to edge
down to 265,000. The Labor Department said the less volatile four-week
moving average also climbed to 260,250, an increase of 3,750 from the
previous week's unrevised average of 256,500.
US non-manufacturing index declined to 55.5 in July after jumping to a
seven-month high of 56.5 in June. While a reading above 50 indicates
continued growth in the service sector, economists had expected the index
to show a more modest drop to 56.0.
US construction fell by 0.6 percent to an annual rate of $1.134 trillion in June
from a revised $1.141 trillion in May. The decrease came as a surprise to
economists, who had expected spending to climb by 0.6 percent. While the
drop in construction spending in June was unexpected, revised data showed
that spending edged down by just 0.1 percent in May compared to the
previously reported 0.8 percent drop.
The Bank of England reduced its key interest rate for the first time in more
than seven years and expanded its quantitative easing as the "Brexit" vote
deepened the case for a technical recession. The Monetary Policy
Committee, governed by Mark Carney, unanimously voted to cut its bank rate
by 25 basis points to a fresh record low of 0.25 percent. This was the first
reduction in rates since March 2009.
Japan's leading index held steady in June, defying economists' expectations
for an increase, preliminary survey data from the Cabinet Office. The
leading index that signals the future economic activity, came in at 98.4 in
June, the same reading as in the previous month. Meanwhile, it was forecast
to climb to 99.7.

Stocks

*Closing

Trend

Price

Date

Rate

Trend

Trend

SUPPORT RESISTANCE Closing


S/l

Changed Changed
S&P BSE SENSEX 28078

UP

13.04.16

25627

26500

NIFTY50

8683

UP

13.04.16

7850

8150

8000

NIFTY IT

11137

UP

23.03.16

11207

10900

10700

NIFTY BANK

18926

UP

18.03.16

15655

17800

17300
1600

ACC

26000

1721

UP

18.03.16

1337

1630

BHARTIAIRTEL

364

UP

04.03.16

332

360

350

BHEL

138

UP

08.07.16

138

130

125

CIPLA

533

UP

05.08.16

533

500

485

DLF

165

UP

04.03.16

108

145

138
120

HINDALCO

144

UP

11.03.16

84

130

ICICI BANK

246

UP

10.06.16

253

245

DOWN 15.07.16

1073

INFOSYS
ITC

1068
253

UP

18.03.16

325

240
1140

230

1160
220

L&T

1512

UP

22.04.16

1265

1480

1420

MARUTI

4942

UP

20.05.16

3927

4600

4500

UP

13.04.16

137

150

DOWN 17.10.14

397

NTPC

161

ONGC*

226

RELIANCE

1016

UP

15.07.16

1012

960

TATASTEEL

382

UP

04.03.16

289

350

*ONGC has breached the resisatnce of 225

145
-

235
940
340

Closing as on 05-08-2016

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.

FORTHCOMING EVENTS
Ex-Date
8-Aug-16

Company
Sintex Industries

9-Aug-16
10-Aug-16

LIC Housing Finance


HCL Technologies

11-Aug-16
11-Aug-16
12-Aug-16
18-Aug-16
Meeting Date
8-Aug-16
8-Aug-16
9-Aug-16
9-Aug-16
9-Aug-16

PowerFinanceCorporation
Bharti Airtel
L&T Finance Holdings
Larsen & Toubro
Company
Hero MotoCorp
Colgate Palmolive (India)
PowerFinanceCorporation
Adani Power
Century Textiles
& Industries
Lupin
Mahindra & Mahindra
Motherson Sumi Systems
Punj Lloyd
Thermax
Grasim Industries
IPCA Laboratories
Aditya Birla Nuvo
MRF
Cipla
Divi's Laboratories
Sun Pharmaceuticals
Industries
Bajaj Electricals
Allahabad Bank
State Bank of India
Shree Cements
Glenmark Pharmaceuticals
Bosch

9-Aug-16
10-Aug-16
10-Aug-16
10-Aug-16
10-Aug-16
11-Aug-16
11-Aug-16
11-Aug-16
11-Aug-16
12-Aug-16
12-Aug-16
12-Aug-16
12-Aug-16
12-Aug-16
12-Aug-16
12-Aug-16
12-Aug-16
12-Aug-16

Purpose
Dividend - Re 0.70/- Per Share/ Right
26:151
AGM/ Dividend - Rs 5.50/- Per Share
Interim Dividend - Rs 6/- Per Share
(Purpose Revised)
AGM/ Dividend - Re 0.60/- Per Share
AGM/ Dividend - Rs 1.36/- Per Share
AGM/ Dividend - Re 0.80/- Per Share
Dividend - Rs 18.25/- Per Share
Purpose
Results/Others
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results
Results

INDIAN INDICES (% Change)

SECTORAL INDICES (% Change)

0.00

2.00

-0.20

1.09

1.09
1.00

-0.40
-0.60

0.00

-0.80

-0.39

-1.00
-1.20

-0.69

-1.00

-1.01
-1.20

-1.40

-1.03

-1.11

-1.60

-2.00

-1.48

-1.97

-2.17

-1.56

-1.80

-2.68

-3.00

Nifty

SMC Trend
Nifty Sensex

Sensex

-1.34

-1.47

-1.37

BSE Midcap

BSE
Smallcap

Nifty Next
50

S&P CNX
500
-4.00

BSE Midcap

Nifty Junior

BSE Smallcap

S&P CNX 500

-4.32
-5.00
Auto Index

Bankex

Cap Goods
Index

Cons Durable FMCG Index


Index

Healthcare
Index

IT Index

Metal Index

Oil & Gas


Index

Power Index

Realty Index

GLOBAL INDICES (% Change)


SMC Trend
Auto
Cap Goods
Bank
Cons Durable
Realty

0.50
0.23
0.10

0.08

FMCG
Healthcare

IT
Metal

Oil & Gas


Power

0.00

-0.27

-0.50

-0.44

INSTITUTIONAL ACTIVITY (Equity) (` Crore)

-0.43

655.61

700.00
-1.00

629.10

556.40

600.00
500.00
-1.28

-1.50

400.00
247.10

300.00
200.00

-2.00

-1.90
-2.12

100.00

CAC 40

-100.00

122.20

0.00

-2.50
Nasdaq Comp. Dow Jones

S&P 500

SMC Trend
Nasdaq
Dow jones
S&P 500

Nikkei

Strait Times

Hang Seng

Shanghai
Comp.

FTSE 100

-200.00

-123.60
-204.20

-300.00
Nikkei
Strait times

Hang Seng
Shanghai

Friday

FTSE 100
CAC 40

Monday

Tuesday

FII / FPI Activity

Up

Down

Wednesday

Thursday

MF Activity

Sideways

BSE SENSEX TOP GAINERS & LOSERS (% Change)

NSE NIFTY TOP GAINERS & LOSERS (% Change)

8.00
6.00

208.78

12.00
10.00

5.44

9.42

8.00

4.00

2.79

2.33

2.00

1.99

5.28

6.00

1.40

4.00

0.00

2.78

2.67

2.66

2.00

-2.00

0.00

-2.22
-4.00
-4.78

-6.00

-3.97

-4.00

-5.63

-6.00

-8.00

-5.75
-8.58

-10.00

Tata Steel

Maruti
Suzuki

Sun
Hero
Bajaj Auto
Pharma.Inds. Motocorp

ICICI Bank

-5.12

-4.72

Aurobindo
Pharma

Lupin

-8.00

-8.45

-10.00

-2.00

Larsen &
Toubro

Lupin

HDFC

GAIL (India)

HCL
Technologies

Tata Steel Maruti Suzuki

Bank of
Baroda

Hindalco Inds. ICICI Bank

-8.22
BHEL

Larsen &
Toubro

Beat the street - Fundamental Analysis


CMP: 175

APOLLO TYRES LIMITED


VALUE PARAMETERS
Face Value (`)
52 Week High/Low
M.Cap (`Cr.)
EPS (`)
P/E Ratio (times)
P/B Ratio (times)
Dividend Yield (%)
Stock Exchange

1.00
223.30/127.95
8907.93
20.30
8.62
1.44
1.14
BSE

% OF SHARE HOLDING
Foreign
14.63

32.95

44.15

6.97

Institutions
Non Promoter Corporate
Holding
Promoters

1.31

Public & Others

` in cr

Revenue
EBITDA
EBIT
Pre-Tax Profit
Net Income
EPS
BVPS
ROE (%)

Actual
Estimate
FY Mar-15 FY Mar-16 FY Mar-17
127,257
117,078
129,642
19,306
19,682
19,992
15,423
15,444
14,930
14,133
15,228
14,310
10,601
10,452
9,879
20.85
20.53
19.42
99.06
121.45
138.21
22.10
18.60
14.80

WHEELS INDIA LIMITED

CMP: 1193.00

VALUE PARAMETERS
Face Value (`)
52 Week High/Low
M.Cap (`Cr.)
EPS (`)
P/E Ratio (times)
P/B Ratio (times)
Dividend Yield (%)
Stock Exchange

10.00
1480.00/771.00
1435.45
32.07
37.20
3.47
0.75
BSE

% OF SHARE HOLDING

0.01

6.88

10.72 7.39

Foreign
Institutions
Non Promoter Corporate
Holding

75

Promoters
Public & Others

` in cr

REVENUE
EBITDA
EBIT
NET INCOME
EPS
BVPS
ROE

Actual
FY Mar-15 FY Mar-16
1875.11
2217.90
174.36
196.10
56.33
196.10
39.99
49.66
34.18
41.28
343.42
380.57
14.15
10.90

Estimate
FY Mar-17

Target Price: 214.00

Investment Rationale

Apollo Tyres is one of the leading global tyre


companies with presence across India, Europe and
other growing economies of Asia. The company has
manufacturing operations in Asia and Europe.

Apollo Tyres has earmarked a capex of over `3,200


crore for the current fiscal for its domestic as well
as European operations. The company has lined
up a capex of `1,700 crore for domestic
operations and an additional 200 million Euro
(over `1,510 crore) for the European operations in
the current financial year.

As per the management, Apollo will look at


double-digit volume growth in fiscal 2017.
However, the management declined to guess on
profitability due to volatility in rubber prices. The
company sees utilisation of its truck radial plant
at 100%. At its other plants, it expects utilisation
to be 90% in several months.

The company is in the process of doubling its truck


bus radial tyre capacity at Chennai plant to
12,000 tyres a day from the current 6,000 tyres
per day. The company hopes to maintain margin
around 18 percent this fiscal.

Apollo Tyres has indicated that its Hungary


greenfield project is on track and will roll out the
first tyre from the new factory by first quarter of
2017. With strong cost advantages through the
new unit, the company hopes to take on global
giants on their own turf in Europe.

Apollo Tyres has set up an office in Malaysia, the


third largest automotive market in the ASEAN
region, as the company eyes expanding its
presence in the country. The company already has
presence in Thailand and Indonesia. The company

P/E Chart

Target Price:1362.00

Investment Rationale
?
Wheels India Limited is promoted by the TVS
Group. The Company manufactures steel wheel.
The Company Segments include Cars, utility
vehicles, Commercial vehicles, Tractors, Single
Piece wheels and Construction & Earth Mover
wheels. The company also manufactures air
suspension kits for trucks and buses.
?
15 % of the Company's turnover is accounted from
exports, particularly from the Construction &
Earth Mover equipment segment. It has launched
aftermarket brand TVS WILGO for catering
aftermarket needs in 2012.
?
It has reported a 151% jump in net profit for the
quarter-ended March 2016 to `16.97 core with
10% growth in sales. The management of the
company expects healthier growth current fiscal
year.
?
According to the management of the company,
commercial vehicle market is one of its major
markets and significant growth of 28 percent
achieved last year in this particular segment.
However, in coming years, it expects to maintain
same growth percentage.
?
Construction equipment and mining segment is
expected to show growth in the domestic market
this year. Management is more concern about the
rural segment and expecting good demand of
tractor due to above normal monsoon.
?
The company is focusing on strategic expansion
into non-wheel business and is also trying to
increase market share globally as well as
domestic. At present, only 15% of revenue is

Upside: 22%

is targeting a bigger share of the pie in the


Malaysian replacement tyre market, which has an
annual capacity of 5,80,000 truck-bus radials and
9.5 million passenger car tyres.

The company has a wide distribution network


across India and Europe. Company's long-standing
relationship with dealers has been a key growth
driver for the company.

In the next five years, the company plans to offer both


bias and radial tyres and also plans to achieve a market
share which will be close to a leadership position.
Valuation
The company planning at consolidating its position in
existing markets and seeks new opportunities in new
markets and new segments. It will continue to invest
in brands and capacity expansion via greenfield
factories and brownfield expansions. It will also scan
other growth opportunities , thus It is expected that
the stock will see a price target of `214 in 8 to 10
months time frame on a target P/E of 11x and FY17
(E) earnings of `19.42.

Upside: 14%

contributed by this segment.


?
The company is doing about 70% of exports related
to wheels for agriculture, construction and mining
equipment. Therefore, the company is looking into
validate customer base with introduction of
additional products, which would contribute to
increase export as well as market share.
Valuation
The company expects further improvement of
financials and market share as a whole basically
depending on the partnering OEMs and its growth.
Moreover, the management expects that
replacement demand would drive the fully utilization
of operational efficiencies, imminent regulatory
changes and some core industry activity would play
vital role for financial growth, Thus, it is expected
that the stock will see a price target of `1362 in 8 to
10 months time frame on a expected P/E of 33x and
FY17 (E) earnings of `41.28.

P/E Chart

Above calls are recommended with a time horizon of 8 to 10 months.

Source: Company Website Reuters Capitaline

EQUITY

Axis Bank Limited

The stock closed at `567.25 on 05thAugust 2016. It made a 52-week low at


`127.05 on 20th January 2016 and a 52-week high at `223.40 on 05th August
2015. The 200 days Exponential Moving Average (EMA) of the stock on the daily
chart is currently at `492.38.
After a sharp dip, it took support above its 200EMA and rebounded sharply
covering its lost value. Moreover, it has formed V formation, which is technically
bullish so we anticipate that the upside movement will continue in the near
term. One can buy in the range of 555-560 levels for the target of 585-590 levels
with SL of 538 levels.

DLF

The stock closed at `164.50 on 05th August 2016. It made a 52-week low at
`72.35 on 12th February 2016 and a 52-week high of `165.60 on 29th July 2016.
The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is
currently at `129.12
As we can see on charts, stock has rebounded sharply from lower levels and
tested its earlier resistance of 160 in single upmove. Then after, it was
consolidating in narrow range of 150-160 levels for few weeks and gave the
breakout of same during last traded week by gained around 2 percent. Moreover,
it has breached its 200DEMA on weekly charts and also manages to close above
the same, which indicates the positive trend for near term. Therefore, one can
buy in the range of 158-161 levels for the upside target of 180-185 levels with SL
below 148.

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
Charts by Spider Software India Ltd

Above calls are recommended with a time horizon of 1-2 months

DERIVATIVES
WEEKLY VIEW OF THE MARKET
Nifty regained strength with aggressive FII buying and positive news flows. With GST became reality domestic market cheered. Sectors like PSU banking, Pharma
& Oil and gas were most active and posted smart gains. Hereafter, the range of 8500-8800 levels will remain crucial in the near term, and the move is expected to
remain volatile with positive bias, as indicated by option open interest concentration. If Nifty break above the 8700 mark, it could rally up to 8800 levels on the
back of fresh momentum. On correction, the index will face strong support at 8500-8550 levels. The put-call ratio of open interest closed down at 0.78. The
options open interest concentration continued to be at the 9000-strike call with the highest open interest of above 60 lakh shares. Among put options, the 8500strike is taking the total open interest to 55 lakh shares, with the highest open interest among put options. The implied volatility (IV) of call options closed at
13.80%, while the average IV of put options closed at 13.62%. VIX Index, remained flat to 15.14. For coming week, market is likely to trade with positive trend.
Any dip should be used to initiate fresh longs. Banks, Cement, Pharma and Oil & gas sectors are likely to outperform in coming days.

DERIVATIVE STRATEGIES
BULLISH STRATEGY

OPTION
STRATEGY

TATAMOTORS
Buy AUG 520. CALL 18.00
Sell AUG 540. CALL 10.00

HINDALCO
Buy AUG 145. CALL 5.50
Sell AUG 150. CALL 3.50

HINDPETRO
Buy AUG 1280. CALL 30.00
Sell AUG 1300. CALL 23.00

Lot size: 1500


BEP: 528.00
Max. Profit: 18000.00 (12.00*1500)
Max. Loss: 12000.00 (8.00*1500)

Lot size: 7000


BEP: 147.00
Max. Profit: 21000.00 (3.00*7000)
Max. Loss: 14000.00 (2.00*7000)

Lot size: 700


BEP: 1287.00
Max. Profit: 9100.00 (13.00*700)
Max. Loss: 4900.00 (7.00*700)

INDIACEM (AUG FUTURE)

FUTURE

GRANULES (AUG FUTURE)

Around `122

Sell:

Below `139

Sell:

Below `459

Target:

`130

Target:

`133

Target:

`441

Stop loss: `118

Stop loss: `142

8700

8800

8900

9000

14.50

7.00

11.39
12.06

13.25

0.05

0.50

5.35
1.22

8200

8300

8400

8500

Call

-0.31

8000

Put

-0.57

7500

-0.54

-0.16

8600

- 0.69

8500

- 1.35

0.00
- 1.50

8400

1.34

5.00

0.04

2.79

5.14

8300

9.33

13.94

15.13
7.72

5.29

8200

Call

8600

8700

8800

8900

9000

Put

CHANGE IN BANKNIFTY OPTION OI (IN QTY)

BANKNIFTY OPTION OI CONCENTRATION (IN QTY)

Call

Put

19200

19500

20000

20500

0.08

18800

0.00

15.71

18500

3.24

18000

0.60

0.01

16000

Call

19200

19500

20000

-2.41

19000

-0.02

-0.35

17000

-0.86

19000

-0.74

18800

3.96

18500

4.60

18000

0.05

17500

0.22

17000

17500

0.00
-5.00

-0.21

6.68
0.52

4.09

5.07

5.35

4.12
2.38

0.80

5.00

4.82

10.00

0.00
16000

12.69

15.00

12.94

7.40

3.28

3.77
9.25

20.00
7.35
5.62

27.34

23.28

24.40

30.00

15.34

20.00

40.00

19.26

25.00

3.22

30.00

48.59

41.83

43.49

50.00

26.45

In 10000
52.42

In 10000
60.00

10.00

10.79

15.00

-5.00
8000

18.85

44.70

38.26

20.00

0.00
7500

23.91

58.36

51.25

25.00

28.31

32.00

4.58

6.86

30.00

10.00

13.79

16.57

30.00

25.28

28.76

40.00

37.94

50.00

46.09

60.00

25.75

In lakhs
62.00

In lakhs
70.00

10.00

Stop loss: `468

CHANGE IN NIFTY OPTION OI (IN QTY)

NIFTY OPTION OI CONCENTRATION (IN QTY)

20.00

JUSTDIAL (AUG FUTURE)

Buy:

20500

Put

DERIVATIVES
SENTIMENT INDICATOR (NIFTY)

SENTIMENT INDICATOR (BANKNIFTY)

04-Aug 03-Aug 02-Aug 01-Aug 29-Jul


Discount/Premium

43.30

37.70

37.40

45.45

48.10

PCR(OI)

0.78

0.76

0.81

0.87

0.88

PCR(VOL)

0.76

0.82

0.90

0.94

1.03

A/D RATIO(Nifty 50)

1.38

0.25

0.61

1.23

0.67

A/D RATIO(All FO Stock)*

2.73

0.19

0.42

0.90

1.00

Implied Volatality

13.69

15.19

14.71

13.99

13.62

VIX

15.14

16.24

15.69

15.18

15.18

HISTORY. VOL

12.69

13.07

12.76

13.11

13.52

*All Future Stock

04-Aug 03-Aug 02-Aug 01-Aug 29-Jul


Discount/Premium

132.90

91.20

114.25

105.80

96.25

PCR(OI)

1.01

0.94

0.95

0.91

0.96

PCR(VOL)

0.94

0.88

0.83

0.88

1.05

A/D RATIO(BANKNIFTY)

2.00

0.09

3.00

0.50

0.50

A/D RATIO#

3.75

0.19

2.80

0.36

0.36

Implied Volatality

18.37

20.67

19.61

19.75

18.15

HISTORY. VOL

17.24

17.76

18.11

18.66

18.47

# All BANKING Future Stock

In Cr.

800

3000

632

711

In Cr.

85

500

83

81

1000
200

619

908

1500

288

2000

394

332

1986

2500

600
400

2476

FIIs ACTIVITY IN DERIVATIVE SEGMENT

FIIS ACTIVITY IN NIFTY FUTURE

22-Jul

-1500

25-Jul

26-Jul

27-Jul

28-Jul

29-Jul

01-Aug

02-Aug

03-Aug

Top 10 long build up


LTP

-430
22-Jul

04-Aug

25-Jul

26-Jul

-977

-400

-1088

-288

-1000

-717

-33

-500

-200

-389

27-Jul

28-Jul

29-Jul

01-Aug

02-Aug

03-Aug

04-Aug

Top 10 short build up

% Price Change Open interest

%OI Chng

LTP

% Price Change Open interest

%OI Chng

ABIRLANUVO

1508

6.07%

3284250

46.75%

BATAINDIA

530.7

-12.81%

3144900

77.14%

HCLTECH

822.8

9.45%

7694400

39.37%

ICICIBANK

242.3

-8.43%

76330000

46.57%

TATACOMM

450.9

1.55%

4118800

21.07%

CONCOR

1433.35

-5.22%

618000

46.10%

CANBK

256.9

2.88%

12405000

20.24%

MCDOWELL-N 2212.25

-10.48%

2980000

45.21%

ALBK

78.5

1.03%

12960000

17.29%

BHARATFIN

795.35

-12.94%

9090000

43.62%

BHARTIARTL

365.05

1.23%

21588000

14.12%

GODREJIND

400.6

-7.53%

1768500

39.36%

MARUTI

4914.15

2.82%

2417550

12.21%

EXIDEIND

174.15

-3.36%

11708000

35.89%

118.9

1.15%

12960000

11.92%

LT

1460.65

-5.84%

8526500

35.79%

ORIENTBANK
TATASTEEL

376

5.28%

23302000

11.70%

AMARAJABAT

876.5

-7.08%

907800

32.37%

MINDTREE

604.6

4.68%

2185600

10.65%

SIEMENS

1245

-5.16%

1226000

30.36%

**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

SPICES

BULLIONS

Turmeric futures (Aug) is expected to trade in a broader range of 8100-8500


levels with upside bias. The yellow spice is witnessing steady tone in major
market across the country due to normal buying by local and upcountry
traders. The arrivals in the main physical markets such as Nizamabad,
Duggirala (AP), Salem, Erode and Sangli is decreasing as stockists are unlikely
to liquidate their stocks easily at the lower rates. Cardamom futures (Aug) is
looking bullish & can test 1040 level due to rise in domestic as well as exports
demand in the spot market against tight stocks on restricted arrivals from
producing belts. This season there may be delay in harvesting which is now
likely only by the end of August or in September. Spices Board of India
estimated the country's exports of small cardamom up on year, since the
Guatemalan crop is of poor quality. Jeera futures (Aug) is expected to trade
in the range of 18800-19900 levels. The counter may get pressurized due to
lower buying on higher level and while better good export demand coupled
with dwindling supplies may support the prices. As per the trade sources,
India's jeera exports rose nearly 25% to around 50,000 tonnes in Apr-Jul from
40,000 tn in the year-ago period due to good demand from China and
Bangladesh. Coriander futures (Aug) is expected to trade in the range of
8200-8700 with positive tone due to thin supply as transportation of
coriander has affected due to bad weather in many parts of the country.
While low buying activities and expectation of selling by stockists in
Rajasthan at higher level may weigh on prices.

OIL AND OILSEEDS


Soybean futures (Oct) is expected to higher & can trade in the range of 35003750 levels. The fundamentals have turned bullish in the domestic markets as
persistent rainfall in Madhya Pradesh and Maharashtra may fear fresh attack
of pests and diseases that hurt productivity of the crop. Soybean is trading
higher in major markets of Madhya Pradesh and Maharashtra due to improved
demand ahead of incoming festivals. Global cues may also support the
counter as U.S. soybean is bolstered by fresh signs of demand for U.S. crops.
According to the U.S. Department of Agriculture the private exporters had
booked sales totaling 697,200 metric tonnes of soybeans for delivery to
unknown destinations and China during the 2015-16 and 2016-17 crop years.
Mustard futures (Aug) is likely to trade in the range of 4800-5050 levels.
Mustard seeds have started declining pressured on sluggish demand &
slowdown in demand for mustard oil at higher level while lower stocks in
mandis ahead of festival and lower arrivals may limit the downside. CPO
futures (Aug) is expected to trade higher to 540 levels, while refined soy oil
futures (Sep) may trade in the range of 635-645 levels with positive bias
supported by higher tariff value. Government has raised the tariff value for
Crude Soy Oil to 765$/ton for first half of August against 752$ earlier. Tariff
Value of RBD Palm Oil is also increased to 689$/mt from 657$. Higher CPO
prices in BMD will support the domestic counter. Major cargo surveyor SGS
reported that Malaysia exports around 1.28 mln tonnes of crude palm oil
during July 1-31, up 15.4% in the previous month.

OTHER COMMODITIES
Kapas futures (Apr) is expected to trade bullish in the range of 990-1060 due
to good domestic demand amid lower sowing acreage. As per latest estimate
by government, cotton is planted in 92.3 lh in the country, down by 9.4 per
cent against 101.9 LH last year as on 29 July. In Gujarat, acreage is lower by
41.2% at 13.65 lakh hac, compared to 23.2 lh a year ago. Cotton prices are
unlikely to fall sharply at least in the near term as acreage lags behind in key
growing states. Cotton prices would remain on the higher side up to
November 15, when the new supply of cotton would pick up in the domestic
market. Mentha oil futures (Aug) is likely to continue in the range of 930-970
levels. There are reports of heavy rainfall in the major growing areas in Uttar
Pradesh which affected the mentha crop while mint product exports have
declined around 4% on year on year basis. The uptrend in guar seed (Oct) will
possibly continue & the prices may rise towards 4000 levels, guar gum (Oct)
can test 7200 levels due to lower production estimate amid lower acreage.
There is continuous heavy rainfall in some area that will lead to disease
attack and fast vegetative growth. Sugar futures (Oct) can turn bullish &
trade in the range of 3650-3775 due to lower production estimates. Indian
Sugar Mills Association has predicted that sugar output in 2016-17 (Oct-Sep)
may be about 23.3 mt, down about 7% from 25.1 mt the previous year.
However, counter may pressurized as the government has decided to impose
export duty of 20 per cent on the export of raw sugar to keep the domestic
prices of sugar under control.

Bullion counter is expected to trade on a volatile path with upward bias as


weaker greenback can lift its prices. Movement of local currency rupee can
also affect the prices as it can move in the range of 66-67.8. Dollar index still
looking week and can test 94.5 which can support bullions. Gold can trade in
the range of 31000-32500 while silver can move in the range of 45500-49000
levels in near term. Recently safe haven demand supported the gold prices.
The number of Americans filing for unemployment benefits unexpectedly rose
in penultimate week, while renewed job cuts in the energy sector boosted
layoffs announced by U.S.-based employers in July. Holdings of SPDR Gold
Trust, the world's largest gold-backed exchange-traded fund stood at 973.21
tonnes. Recently the winding back of expectations for U.S. interest rate hikes,
volatility in equities, some bond yields turning negative, the possibility of
Donald Trump winning the U.S. presidency and general fears around the global
outlook have all contributed to gold's solid performance and constructive
outlook. According to GFMS, China's gold demand for jewelry slumped to 83.8
tonnes in the second quarter of 2016, down almost 36 percent from the first
quarter and 24.1 percent from the same quarter last year. Meanwhile India's
gold imports in July are estimated at 20 tonnes, the lowest since March and
down 79.3 percent from a year ago. Overall, physical demand for gold has
been soft in the first two quarters of 2016, totaling just 1,479 tonnes, which is
down 23 percent on the same period in 2015.

ENERGY COMPLEX
Crude oil prices are expected to continue their downside movement amid
fear of supply glut and lack of demand. Overall it can move in the range of
2650-2960 levels in MCX. Recently inventory report released last week sent
mixed signals about supply levels in the market. Government data showed
that gasoline inventories fell by 3.3 million barrels far more than expected.
The unexpectedly large drop in inventories eased concerns about a supply
glut to some extent as concerns about a persistent glut continue to pressure
the market. But a worldwide oversupply since in motor fuels and other
refined products has indicated the rebound. Worries about slowing
economies in Asia, the driver of oil demand growth and Europe have weighed,
along with near record-high OPEC output and signs of a new price war by
Saudi Arabia for crude. Hedge funds have turned more negative on oil amid
worry about fundamentals, holding a record net short position on gasoline
while cutting bullish wagers on crude to five-month lows. Natural gas may
continue its bullish momentum on good demand as it can test 210 levels in
MCX. Forecasts of warmer weather across large swaths of the country could
elevate natural gas prices in coming days, as more gas is used to power air
conditioning in homes and businesses. The U.S. Energy Information
Administration storage levels shrank by 6 billion cubic feet of gas in the week
ending July 29. Increased production and high levels of imports of natural gas
from Canada to US capped upside to some extent.

BASE METALS
In base metal counter, weakness may persist on China slowdown concerns and
slow global demand. Global investors may be reassured by fairly steady
growth expected in a flurry of Chinese data in coming weeks, but tepid
demand, slowing investment and rising debt levels remain pressing concerns
for the world's second largest economy. China's top economic planner called
for the central bank to cut interest rates and bank reserve requirements "at
the appropriate time", disappointing investors who had discounted the
possibility of a cut in the near term. Red metal copper may move in the range
of 315-336 levels. China's copper demand is improving with solid growth of
about 15 percent across grid and substation spending, but that won't be
enough to counter new mine supplies. Lead can hover in the range of 116-124
levels. Zinc can move in the range of 144-154 levels. Zinc stocks held in
London Metal Exchange warehouses have slipped 10% since the beginning of
the year and currently stand around 430,000 tonnes. Aluminum can move in
the range of 105-111 levels in near term. China's unwrought aluminium and
aluminium product exports were 340,000 tonnes in June. This took exports to
2.28 million tonnes in the first half of the year, which was down 9.4 percent on
the same period of last year. Nickel may move in the range of 680-730 levels.
Last week Philippine's government suspended seventh miner from their
operations due to violation of environmental laws. At the time of suspension
of their 6th miner around 8-10% production levels were expected to decline.

10

COMMODITY
TREND SHEET
EXCHANGE

COMMODITY

CONTRACT

CLOSING

DATE TREND

PRICE

CHANGED

TREND

RATE TREND

SUPPORT

RESISTANCE

CHANGED

CLOSING
STOP/LOSS

NCDEX

SOYABEAN

OCT

3630.00

12.05.16

Down

4037.00

3850.00

3900.00

NCDEX

JEERA

AUG

19450.00

16.06.16

Up

17140.00

18100.00

17800.00

NCDEX

REF.SOY OIL

AUG

636.15

04.08.16

Up

636.15

615.00

600.00

NCDEX

RM SEEDS

AUG

4931.00

09.06.16

Up

4666.00

4850.00

4800.00

MCX

MENTHA OIL

AUG

929.10

19.05.16

Up

890.40

880.00

860.00

MCX

CARDAMOM

SEP

953.00

22.03.16

UP

738.80

870.00

850.00

MCX

SILVER

SEP

47677.00

09.06.16

UP

40909.00

45500.00

44500.00

MCX

GOLD

OCT

31780.00

16.06.16

Up

30607.00

30800.00

30500.00

MCX

COPPER

AUG

322.25

30.06.16

Up

330.60

321.00

320.00

MCX

LEAD

AUG

120.00

04.08.16

Sideways

MCX

ZINC

AUG

151.15

03.03.16

UP

123.85

145.00

142.00

MCX

NICKEL

AUG

708.30

30.06.16

Up

638.90

680.00

660.00

MCX

ALUMINUM

AUG

108.55

30.06.16

Up

111.30

106.00

104.00

MCX

CRUDE OIL

AUG

2810.00

28.07.16

Down

2772.00

3000.00

3100.00

MCX

NATURAL GAS

AUG

191.00

17.03.16

Up

133.40

182.00

178.00

*Closing as on 04.08.16

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.

TECHNICAL RECOMMENDATIONS
SILVER MCX (SEP)
SILVER MCX (SEP) contract closed at `47677 on 4th Aug'16. The contract made its high of `48932 on 04th
July'16 and a low of `36471 on 04th Apr'16. The 18-day Exponential Moving Average of the commodity is
currently at `47069.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 63. One can buy in the
range of `47300-47200 with the stop loss of `47000 for a target of `47800.

NICKEL MCX (AUG)


NICKEL MCX (AUG) contract closed at `708.30 on 04th Aug'16. The contract made its high of `735.30 on
21st July'16 and a low of `580 on 01st June'16. The 18-day Exponential Moving Average of the commodity
is currently at `704.41.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 63. One can buy in the
range of `705-695 with the stop loss of `675 for a target of `725.

CORIENDER NCDEX (SEP)


CORIENDER NCDEX (SEP) contract closed at `8366 on 04th Aug'16. The contract made its high of `8561
on 03rd Aug'16 and a low of `7387 on 08th July'16. The 18-day Exponential Moving Average of the
commodity is currently at `8120.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 71. One can buy in the
range of `8280-8200 with the stop loss of `7950 for a target of `8500.

11

COMMODITY
NEWS DIGEST

WEEKLY COMMENTARY

The Bank of England reduced interest rates by 25


basis points to a record-low 0.25%.

In the week gone by, CRB recovered to some extent on recovery in precious metals, energy and
in some agri commodities like oil seeds, sugar etc. Fall in the equity market attracted money
flow in commodities complex. The US dollar gained some strength last week, recovering after
data showed that the US private sector added more jobs than expected in July, and gains
continued on Thursday after the Bank of England cut its interest rate and expanded its stimulus
measures. In bullion counter, especially, gold edged higher. Gold prices moved up after the
Bank of England announced a stimulus program to support the country's economy after the
Brexit vote. The BOE cut its benchmark interest rate to a new low on last Thursday. Oil futures
regained positive momentum after an unexpectedly large drop in gasoline supplies on last
Wednesday. The rebound back above $40 came as traders attempt to balance declining North
American production levels and expectations of increasing global fuel demands in the coming
year as against the near glut levels of global petroleum inventories that overhang the market.
Natural gas prices jumped but ended slightly lower last week, despite a government report
showing inventories declined for the first time in a summer week in a decade. Base metals
slowly drifted into negative territory on negative economic data's. The Chinese Caixin services
PMI for July at 51.7 missed the forecast 52.9. Global uncertainty and the start of the summer
slowdown also gave negative impact on base metal prices.

China's net gold imports fell to 70.886 tons in June,


down from 115.29 tons in May.

US factory orders went down by 1.5% against the


prior 1%.

Japan's JX Holdings Inc lowered its copper output


target at its Caserones mine in Chile by 27% to
100,000 tonnes for the year through March 2017 due
to heavy snow in June.

Iraq's crude oil production in July rose to the highest


level since January pumped 4.632 million barrels of
crude oil per day in July compared with 4.559
million bpd in June.

India oilmeal export during July month rose 99


percent at 87,944 tonnes compared to 44,238
tonnes same period last year.

In agri counter, oil seeds and edible oil saw good jump in the prices. CPO outperformed others
on positive news. The Council of Palm Oil Producing Countries (CPOPC) established by Malaysia
and Indonesiathe world's two largest crude palm oil (CPO) producerswill soon conduct
research to counter a black campaign against the product. CPO and palm oil products of both
Indonesia and Malaysia have recently faced difficulties to enter some developed markets, such
as the EU, because of tough requirements related to environmental issues. Guar seed and
guargum edged higher on improved demand in spot market. Maize futures moved down to
multi months low across the board as mostly favorable weather in the U.S. Midwest bolstered
expectations for a big crop. Spices moved up except jeera.

Kharif sowing in Rajasthan dropped nearly 16% due


to delayed monsoon arrivals this season.

NCDEX imposed special margin of 5% (in cash) on


long side will be imposed on all running contracts
and yet to be launched contracts in coriander with
effect from beginning of day Monday, August 08,
2016.

NCDEX TOP GAINERS & LOSERS (% Change)

MCX TOP GAINERS & LOSERS (% Change)


5.00

8.00

4.58
4.20

6.31
5.91

6.00

4.00

3.00

2.70

3.74

4.00

2.50

3.03
2.00
2.00
1.01
1.00
0.00
0.00
- 1.48

- 2.00

- 1.27

- 0.85

- 1.13

-1.00
- 0.98
- 4.00

- 3.59

-2.00

- 1.84

- 1.84

- 2.26
- 6.00

GUARGUM
5MT

NEW STEEL
LONG

MAIZERABI

CRUDE
OIL

JEERA

WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)


COMMODITY

UNIT

29MM COTTON NEW


BALES
BARLEY
MT
CHANA
MT
CORIANDER NEW
MT
COTTON SEED OILCAKE
MT
GUARGUM
MT
GUARSEED
MT
JEERA NEW
MT
MAIZE
MT
RM SEED
MT
SOYABEAN
MT
SUGAR
MT
TURMERIC
MT
WHEAT
MT

28.07.16
QTY.
1600.00
10432.00
212.00
4246.00
34974.00
30153.00
26749.00
5006.00
11274.00
54077.00
9022.00
9941.00
5921.00
15967.00

04.08.16
QTY.
0.00
10432.00
70.00
4847.00
31585.00
5426.00
22905.00
6347.00
11344.00
48536.00
1930.00
5126.00
6062.00
15967.00

DIFFERENCE
-1600.00
0.00
-142.00
601.00
-3389.00
-24727.00
-3844.00
1341.00
70.00
-5541.00
-7092.00
-4815.00
141.00
0.00

-3.00
CPO

BRCRUDE
OIL

COTTON

MENTHA
OIL

CRUDE
OIL

COPPER

LEAD

LEADMINI

NATURAL
GAS

WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)


COMMODITY

UNIT

28.07.16

QTY.
CARDAMOM

04.08.16 DIFFERENCE

QTY.

MT

2.90

0.00

-2.90

BALES

17100.00

5800.00

-11300.00

GOLD

KGS

157.00

913.00

756.00

GOLD MINI

KGS

314.30

442.10

127.80

GOLD GUINEA

KGS

13.55

13.55

0.00

MENTHA OIL

KGS

2503965.38

2730731.53

226766.15

SILVER (30 KG Bar)

KGS

30933.18

30776.26

-156.92

COTTON

12

COMMODITY
SPOT PRICES (% change)

GST: impact on commodities

GUAR SEED (JODHPUR)

5.37

CRUDE PALM OIL (KANDLA)

5.17

GUAR GUM (JODHPUR)

On 3rd August 2016, the GST has finally crossed the hurdle of Rajya Sabha after
the long and tumultuous debate. This is the country's most transformative tax
reform in decades is likely to affect in the common man in numerous ways.
As the GST reaches its final stages, according to Arvind Subramanian, Chief
Economic Adviser to the GoI, a range of standard Goods and Services Tax rate
will be between 17% and 19%. All these numbers are based on assumptions and
conditional on policy choices. So Services could get more expensive, it's a
mixed bag for consumers for goods.

4.67

CORIANDER (KOTA)

2.11

MUSTARD (JAIPUR)

1.98

GUR (MUZAFFARNGR.)

1.44

JEERA (UNJHA)

1.04

Impact on commodities
Petroleum products will be outside of GST.

TURMERIC (NIZAMABAD)

0.22

SOYABEAN (INDORE)

0.11

WHEAT (DELHI)

0.06

PEPPER MALABAR GAR (KOCHI)

-0.09

COTTON SEED OIL CAKE (AKOLA)

-0.18

BARLEY (JAIPUR)

-0.23

SUGAR (KOLKATA)

-0.25

SILVER 5 KG (DELHI)

-0.54

COTTON (KADI)

-0.75

CHANA (DELHI )

-1.09

First of all food prices may increase in the initial phase if GST is rolled out.
Given the exemption of food from central Value Added Tax and 4 % Value
Added Tax on food item, the GST under a single rate would lead to a doubling
of tax burden on food items.
But there will also be many benefits. The biggest pros of GST is that we will
have a single tax without the cascading effect of multiple taxes, so only value
addition is taxed at each point that is a healthy international practice.
The simple uniform tax regime is expected to improve the transportation time
of perishable commodities, and curtail wastage of precious food. Agri
commodities being produced in one part of the country will find more market
in the farthest part of the country because there will be no CST and no entry
tax. It will benefit both the farmers and consumers.
However, with food products are eligible for concessional duties today and if
GST rate touched 12 % to 18 % we might see an increase in prices.
It is expected that exemption or concession for agriculture commodities
which are sensitive to price hike will continue. About 54 percent of Consumer
Price Index basket will be completely exempt from GST.

RAW JUTE (KOLKATA) -22.75


-25.00

GST will bring a lot of transaction especially trading in oilseeds, pulses and
cereals which are happening outside the tax net.
-20.00

-15.00

-10.00

-5.00

0.00

5.00

10.00

WEEKLY STOCK POSITIONS IN LME (IN TONNES)


COMMODITY

STOCK POSITION

STOCK POSITION

28.07.16

04.08.16

2318125

2278250

-39875

ALUMINIUM

DIFFERENCE

COPPER

214425

207350

-7075

NICKEL

374652

372378

-2274

LEAD

187150

188725

1575

ZINC

435600

430625

-4975

PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)


COMMODITY

EXCHANGE CONTRACT 28.07.16

04.08.16 CHANGE%

ALUMINIUM

LME

3 MONTHS

1609.00

1622.50

0.84

COPPER

LME

3 MONTHS

4896.50

4831.00

-1.34

LEAD

LME

3 MONTHS

1803.00

1795.00

-0.44

NICKEL

LME

3 MONTHS 10695.00

10605.00

-0.84

ZINC

LME

3 MONTHS

2205.00

2255.00

However, there is confusion over whether there will be a flat rate of GST for
both imported and domestic oil. Imported oil attracts a duty of 12.5 %. If GST
will be at the rate of 5 %, then it is not clear whether imported edible oil will
be taxed at 17.5 % and domestic oil at 5 %.
In case of jewellery, currently only 2 % of effective taxes is passed on to the
consumers but as per the GST model, at least 6 % rates could be imposed,
impacting the jewellery purchase. But according to experts, higher tax rate
actually subsumes many hidden taxes on them and brings many parts of the
jewellery industry so far outside the tax net into the tax base. But overall
service tax on gems & jewellery items will increase the cost as A standard GST
rate of 17-18% for all services is higher than the 14.5% tax on services
applicable currently.
Currently, refining scrap by melting, assaying and refining into gold bullion is
exempted from excise duty, and has affected the level playing field between
local and imported gold, which attracts 10% customs duty. This may be badly
impacted by GST.

INTERNATIONAL COMMODITY PRICES

2.27

COMMODITY EXCHANGE CONTRACT

UNIT

28.07.16 04.08.16 CHANGE(%)

GOLD

COMEX

OCT

1337.00

1362.60

1.91

Soybean

CBOT

NOV

Cent per Bushel

978.00

973.25

-0.49

SILVER

COMEX

SEP

20.19

20.44

1.23

Corn

CBOT

DEC

Cent per Bushel

338.75

331.00

-2.29

LIGHT CRUDE OIL

NYMEX

AUG

41.14

41.93

1.92

CPO

BMD

OCT

MYR per MT

2300.00

2444.00

6.26

Sugar

LIFFE

AUG

10 cents per MT

518.10

542.70

4.75

NATURAL GAS

NYMEX

SEP

2.87

2.83

-1.50

13

CURRENCY
Currency Table

News Flows of last week

Currency Pair

Open

High

Low

Close

03rd Aug

USD/INR

67.05

67.30

66.97

67.18

03rd Aug

EUR/INR

74.92

75.60

74.80

74.84

GBP/INR

88.92

89.87

88.37

88.77

03rd Aug
04th Aug
04th Aug

JPY/INR

65.36

66.57

65.29

66.28

(Source: Reliable Software, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)

04th Aug

China July service sector growth eases, employment falls for first
time in four months:
Euro zone retail sales flat in June, as consumers cut fuel
purchases
U.S. private sector adds 179,000 jobs in July: ADP
Indian markets welcome GST but see challenges ahead
New orders for U.S. factory goods fall for a second straight month
in June
Bank of England cut interest rates and restarted bond purchases
in a move to mitigate the impact of Britain's vote to exit the
European Union.

Economic gauge for the next week

Market Stance
Rupee started the week on a positive note as against the dollar as rising
optimism about policy reforms in the country improved the sentiments for
local unit after the Rajya Sabha approved for bringing in the Goods and
Services Act. Expectations are rising that global investors, starved of returns
from fixed income investments, may raise their investments in the highest
yielding emerging market as government's actions provide them the comfort
of prudent economic policies. However, in later part some of the gains were
seen pared on renewed dollar demand from banks and importers and firm
dollar overseas. On the global front, Bank of England (BoE) Governor Mark
Carney joined the Bank of Japan (BoJ) and the European Central Bank in
stimulating the economy by cutting rates to record lows and bond purchases of
$170 billion. Post-Brexit, global central banks including BoJ, and BoE have
become aggressive in injecting liquidity into the financial markets.

Date
09thAug
10thAug
11thAug
11thAug
11thAug
11thAug
11thAug
12thAug
12thAug
12thAug
12thAug
12thAug
12thAug
12thAug

Currency
GBP
USD
USD
USD
USD
USD
USD
EUR
EUR
EUR
EUR
USD
USD
USD

Event
NIESR GDP Estimate (3M)
Monthly Budget Statement
Initial Jobless Claims
Import Price Index (YoY)
Export Price Index (MoM)
Import Price Index (MoM)
Export Price Index (YoY)
Gross Domestic Product s.a. (YoY)
Gross Domestic Product s.a. (QoQ)
Industrial Production s.a. (MoM)
Industrial Production w.d.a. (YoY)
Retail Sales (MoM)
Retail control
Retail Sales ex Autos (MoM)

Previous
0.6
6
269
-4.8
0.8
0.2
-3.5
1.6
0.3
-1.2
0.5
0.6
0.5
0.7

USD/INR

EUR/INR

USD/INR (AUG) contract closed at 67.18 on 04th August'16. The contract made its
high of 67.30 on 03rd August'16 and a low of 66.97 on 02nd August'16 (Weekly Basis).
The 14-day Exponential Moving Average of the USD/INR is currently at 67.23.

EUR/INR (AUG) contract closed at 74.84 on 04th August'16. The contract made its
high of 75.60 on 04th August'16 and a low of 74.80 on 04th August'16 (Weekly Basis).
The 14-day Exponential Moving Average of the EUR/INR is currently at 74.71.

On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 46.99.
One can sell around 67.05 for the target of 66.65 with the stop loss of 67.25.

On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 50.47.
One can sell around 74.85 for a target of 74.25 with the stop loss of 75.15.

GBP/INR

JPY/INR

Technical Recommendation

GBP/INR (AUG) contract closed at 88.77 on 04th August'16. The contract made its
high of 89.87 on 03rd August'16 and a low of 88.36 on 01st August '16 (Weekly Basis).
The 14-day Exponential Moving Average of the GBP/INR is currently at 88.94.

JPY/NR (AUG) contract closed at 66.28 on 04thAugust'16. The contract made its
high of 66.57 on 03rd August '16 and a low of 65.29 on 01st August 2016 (Weekly
Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at 65.01.

On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 42.90.
One can sell around 88.50 for a target of 87.40 with the stop loss of 89.10.

On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 63.44.
One can buy around 66.00 for a target of 67.00 with the stop loss of 65.50.

14

IPO
IPO NEWS
BSE looks to divest up to 30% in CDSL through IPO
BSE Ltd, the oldest stock exchange in Asia, is preparing to divest a stake of up to 30% in depository firm Central Depository Services (India) Ltd (CDSL) through an initial
public offering (IPO) that could fetch the exchange up to `500 crore. At an issue size of about Rs.500 crore, the company will be valued at up to `1,500 crore. CDSL was set
up in 1999 by BSE along with banks such as State Bank of India (SBI), Bank of India, Bank of Baroda, HDFC Bank Ltd, Standard Chartered Bank and Union Bank of India. BSE
holds a 54.2% stake in the company. A depository, CDSL facilitates holding of securities in electronic form. It, along with National Stock Exchange-promoted National
Securities Depository Ltd, are the only two depositories in the country.The IPO, a pure offer for sale (OFS), is being looked at as a divestment route for BSE.
IL&FS eyes Rs 5k crore in first infra trust IPO
Infrastructure Leasing & Financial Services (IL&FS) is making final preparations to list India's first infrastructure investment trust (InvIT) to raise `5,000 crore, or $750
million, by early October. The Mumbai-headquartered IL&FS plans to put four of its 30 big projects into the InvIT initially. It would be a test case for the recently
allowed trusts owning income-generating assets to raise capital for the infrastructure build-up in Asia's third largest economy. InvITs are trusts that behave like
mutual funds offering individual and institutional investors regular yields and liquidity, which are often inflation-indexed. Earlier this year, the government tweaked
guidelines allowing it easier for InvITs and real estate investment trusts (REITs) to list on Indian bourses to attract foreign investors into the cash-starved infra and
realty sectors. Adani Group and GMR Infra are among the other companies evaluating the possibility of listing InvITs.
PNB Housing Finance IPO: India's fifth-largest home loan firm eyes expansion
PNB Housing Finance, which is on course with its Rs. 2,500 crore, initial public offering (IPO), is planning to widen its footprint from a predominantly North India-based
business to smaller towns and cities. Currently, the company generates a substantial portion of its revenues from Delhi, Punjab, Haryana, Rajasthan, Uttar Pradesh and
Chandigarh, which accounted for about 40 percent of its total loan portfolio as of March 31, 2016, according to its draft prospectus. T he expansion from these states will
see the fifth-largest Indian home loan company venture into areas with comparatively lower population. The company had opened new branches in Vishakapatnam,
Vijaywada, Hyderabad, Nasik, Surat, Thrissur, Vadodara, Bhiwadi and Faridabad during the financial year 2015-16 and wants to continue with the game plan.
NSE sticks to IPO plan to give shareholders exit options
The National Stock Exchange of India (NSE) will adhere to its plan of going public early next year so that it can give shareholders an opportunity to exit. NSE, the
nation's biggest equities bourse, has set up a panel to help with the plan to file an offer document with the regulator for listing domestically by January.. Investorsincluding Tiger Global Five Holding, Norwest Venture Partners X FII - Mauritius and State Bank of India-have urged the bourse to speed up plans to list. The company is
also pushing ahead with its aim of a listing abroad. That will help enhance NSE's profile and expand its global reach.
Adi Godrej plans IPO to cash in on India's craze for milk
Billionaire Adi Godrej is considering an initial public offering of his group's animal-feed unit, the largest producer in India, as business thrives in the biggest milkdrinking country in the world. Godrej Agrovet Ltd. may be listed in the future, group Chairman Godrej said in a recent interview in Mumbai, without providing details
on the timing or valuations. Agrovet, which made two acquisitions last year, is growing very rapidly and is open to more purchases domestically, he said. Profits at
Agrovet have since doubled, surging to 2 billion rupees in the year ended March 2015 amid rising demand for food in the world's second-most populous nation,
according to data compiled by Bloomberg. Revenue climbed more than 20 percent to 34.65 billion rupees during that period.
SEBI approves RBL Bank's long pending IPO
Private sector lender RBL Bank has received capital markets regulator SEBI's approval for its long-pending IPO for which it had filed draft papers nearly a year ago. The
bank, which had filed draft papers with SEBI in June last year, seeking approval to float IPO, received clearance from the regulator on July 27. The SEBI withheld
approval to RBL's IPO as the regulator was examining past violation by the private sector lender. RBL's IPO plans was hanging in balance for a long time due to the
outstanding cases. The approval comes after SEBI settled an outstanding case against the lender for alleged violation of disclosure norms with regard to an earlier
issuance of shares to select investors for over `600 crore. RBL Bank had reportedly raised ? 488 crore in a pre-IPO round of fund raising last year. The proceeds of the
IPO would be used to shore-up the equity capital base, to meet future capital requirements and to ensure compliance with Basel III and other Reserve Bank's
guidelines. According to RBL Bank (formerly Ratnakar Bank Ltd), the listing of equity shares will enhance the visibility and brand name among existing and potential
customers. Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India and Morgan Stanley India Company are the global coordinators, while HDFC
Bank, ICICI Securities, IDFC Securities, IIFL Holdings and SBI Capital Markets are the book running lead managers of the issue. The settlement involved payment of
`47.6 lakh towards 'monetary settlement charges', as also a commitment by the bank that it would give an exit opportunity in its IPO to the investors to whom shares
were issued earlier in rights issues. As per the draft papers, the IPO comprises fresh issue of equity shares worth `1,100 crore and offer for sale of up to 17,568,408
scrips by existing shareholders including Beacon India Private Equity Fund and GPE (India) Ltd.

IPO TRACKER
Company

Sector

Advance. Enzyme.
L & T Infotech
Quess Corp
Mahanagar Gas
Parag Milk Foods
Ujjivan Fin.Ser.
Thyrocare Tech.
Equitas Holdings
Infibeam Incorp.
Bharat Wire
Health.Global
Quick Heal
Team Lease Serv.
Precision Camshf

Chemicals
IT - Software
IT - Software
Gas Distribution
Dairy
Finance
Healthcare
NBFC
IT - Software
Metal
Healthcare
IT software
Services
Auto Ancillary

M.Cap(In `Cr.) Issue Size(in `Cr.)


3044.49
11557.00
7841.86
5097.92
2657.18
5307.26
2967.96
5796.57
4026.18
192.40
1739.38
1866.36
1820.89
1295.16

411.00
1243.00
400.00
1039.64
767.00
870.00
480.00
2177.00
450.00
70.00
650.00
451.30
273.68
410.00

List Date
1-Aug-16
21-Jul-16
29-Jun-16
21-Jun-16
19-May-16
10-May-16
9-May-16
21-Apr-16
4-Apr-16
1-Apr-16
30-Mar-16
18-Feb-16
12-Feb-16
8-Feb-16

Issue Price
896.00
710.00
317.00
421.00
215.00
210.00
446.00
110.00
432.00
45.00
218.00
321.00
850.00
186.00

List Price

Last Price*

1210.00
666.60
499.00
540.00
215.70
227.00
662.00
144.00
458.00
47.35
209.80
304.95
860.00
163.10

1363.65
680.45
622.60
516.10
315.90
448.85
552.45
172.65
758.35
42.80
204.45
266.50
1065.05
136.70

%Gain/Loss(from
Issue price)
52.19
-4.16
96.40
22.59
46.93
113.74
23.87
56.95
75.54
-4.89
-6.22
-16.98
25.30
-26.51

*Closing prices as on 04-08-2016

15

FIXED DEPOSIT MONITOR


FIXED DEPOSIT COMPANIES
PERIOD
S.NO

(NBFC COMPANY -NAME)

BAJAJ FINANCE LTD.(UPTO RS. 5 CR.)

DEWAN HOUSING FINANCE CORPORATION LTD

12M

18M

24M

36M

45M

48M

60M

84M

8.55

8.65

8.65

8.65

8.65

8.65

13M=8.75%
(FOR TRUST ONLY)

14M=8.75%

MIN.

ADDITIONAL RATE OF INTEREST (%)

18M=8.85%
(FOR WOMEN ONLY)

40M=8.90%

INVESTMENT
0.25% FOR SR. CITIZEN, 0.10% FOR

DELHI NCR &

EXISTING LOAN CUSTOMER AND ON RENEWAL

MUMBAI-75000,

UPTO RS. 1CRORE

OTHER-50000/-

0.25% EXTRA FOR SR. CITIZEN,WIDOW,

13M=50000;

ARMED, PERSONNEL, EXISTING DHFL HOME

14M=10000;

BORROWERS, 0.25% EXTRA FOR DEPOSIT


50 LAC AND ABOVE

DEWAN HOUSING FINANCE CORPORATION LTD (AASHRAY)8.50

GRUH FINANCE LTD.

8.75

8.75 -

8.75

8.75

7.50 13M=7.50 7.75

8.00 -

8.00

8.00

8.00

10,000/-

96-120M=8.00%; 0.25% FOR FEMALE,

1000/-

SR. CITIZEN & TRUST

HDFC PREMIUM DEPOSIT FOR INDIVIUAL (UPTO RS. 2 CR.)15M=8.15

30M=8.15

22M=8.2044M=8.20

0.25% FOR SR. CITIZEN UPTO RS. 1 CR.

20000/-, 40000/IN MONTHLY

HDFC PREMIUM DEPOSIT FOR TRUST & INSTITUTION (UPTO RS. 10 CR.)20M=8.10

40M=8.10

HDFC LTD FOR INDIVIDUAL & TRUST (UPTO RS.5 CR.)

8.05

8.05

8.05 -

8.05

8.05

HUDCO LTD.(IND & HUF)

7.70

7.70

7.70 -

7.70

7.55

7.55

0.25% FOR SR. CITIZEN

10000/-

HUDCO LTD.(TRUST/CO/INSTITUTION)

7.50

7.50

7.50 -

7.50

7.50

7.50

10000/-

10

KTDFC (Kerela Transport)

8.50

8.50

8.50 -

8.25

8.25

0.25% extra for Sr. Citizen,

10000/-

11

LIC HOUSING FINANCE LTD.(UPTO RS. 5 CR.)

8.00

8.00

8.10

8.15 -

8.25

0.25% FOR SR.CITIZEN IF APP ABOVE RS. 50,000/- APP 10000/-

0.25% FOR SR. CITIZEN UPTO RS. 1 CR.

UPTO RS. 50,000/-

11

M&M FINANCIAL SERVICES LTD (FOR BELOW RS. 1 CRORE)8.45

8.45

8.45

8.45 -

8.45

8.45

12

Omaxe Ltd.

11.50

12.00

12.45 -

12

PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.)

8.00

8.00

8.25 -

8.25

8.25

8.25

13

PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.)

14

SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME

8.25

8.25

8.50 -

8.75

15

SHRIRAM CITY UNION SCHEME

8.25

8.25

8.50 -

8.75

15M=8.05

22M=8.05

30M=8.35

44M=8.45

0.25% FOR SR. CITIZEN

0.25% EXTRA FOR SR. CITIZEN UPTO RS.1 CRORE

10000/-

50000/-

20000/-

0.25% FOR SR. CITIZEN

8.75

0.25% FOR SR. CITIZEN

5000/-

8.75

0.25% FOR SR. CITIZEN

5000/

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 fd@smcindiaonline.com

16

MUTUAL FUND

Performance Charts

EQUITY (Diversified)

Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns

Returns (%)
Scheme Name

3M

6M

1Y

Risk
3Y

Since

Std.Dev Beta

Market Cap (%)

NAV

Launch

QAAUM

Jenson

LARGE

MID

(`)

Date

(` Cr.)

SMALL

DEBT &

CAP

CAP

CAP

Sundaram Rural India Fund - Reg - G

32.25

12-May-2006

156.53

16.55

29.86

16.17

30.07 12.12

2.28

0.89

OTHER

0.35

38.15

38.73

10.36

Birla Sun Life Small & Midcap Fund - G

29.49

31-May-2007

203.96

17.94

27.23

14.55

38.19 12.49

2.41

0.85

12.75

0.36

5.77

74.22

8.57

11.44

DSP BlackRock Micro Cap Fund - Reg - G

48.72

14-Jun-2007

2680.20

13.51

24.72

12.65

51.86 18.90

2.64

0.91

0.48

N.A

69.21

22.69

8.10

Franklin India Smaller Companies Fund - G

45.14

13-Jan-2006

2886.58

13.08

22.34

12.02

43.11 15.33

2.17

0.80

0.35

10.65

59.91

12.43

17.01
13.22

Launch

IIFL India Growth Fund - Reg - Growth

12.40

30-Oct-2014

161.88

19.41

25.72

10.34

N.A

12.96

2.21

0.87

0.15

66.53

17.09

3.17

L&T Emerging Businesses Fund - Reg - G

17.05

12-May-2014

326.81

17.39

20.28

10.33

N.A

27.00

2.49

0.85

0.29

N.A

75.65

17.95

6.40

Franklin India Prima Fund - Growth

755.12

01-Dec-1993 3933.89

13.05

21.59

9.31

36.28 20.99

2.06

0.79

0.32

28.52

57.23

N.A

14.25

Launch
Date
10-Feb-1995

QAAUM
(` Cr.)
2797.01

3M

6M

1Y

3Y

11.53 17.65

8.21

24.09

Since
Launch
21.21

Std.Dev

Birla Sun Life Balanced 95 - Growth

NAV
(`)
624.49

1.68

0.19

Mirae Asset Prudence Fund - Reg - G

10.87

29-Jul-2015

211.64

10.36 15.48

7.96

N.A

8.53

1.83

0.10

64.11

5.12

N.A

30.77

Kotak Balance - Growth

20.21

05-Nov-2014

265.19

10.21 17.85

7.01

N.A

7.88

1.65

0.11

42.51

20.79

1.51

35.20
34.39

BALANCED
Returns (%)
Scheme Name

Risk
Jenson

Market Cap (%)


LARGE
CAP
43.47

MID
CAP
22.87

SMALL
CAP
0.01

DEBT &
OTHER
33.65

Reliance RSF - Balanced - Growth

43.75

08-Jun-2005

2369.77

10.13 14.56

6.39

24.28

14.13

1.73

0.14

50.59

10.94

4.09

Franklin India Balanced Fund - Growth

98.94

10-Dec-1999

1016.10

8.88

14.48

6.05

23.25

14.75

1.53

0.20

54.86

10.59

N.A

34.55

UTI Balanced Fund - Growth

138.46

20-Jan-1995

1374.21

11.54 17.16

6.03

19.19

16.11

1.63

0.10

46.76

23.25

2.58

27.42

ICICI Prudential Balanced - Growth

100.69

03-Nov-1999

2791.56

10.92 16.58

5.96

23.13

14.77

1.66

0.14

54.14

17.18

1.25

27.43

NAV

Launch

QAAUM

INCOME FUND
Returns (%)
Scheme Name
ICICI Prudential Dynamic Bond F - Prem Plus - G
ICICI Prudential LTP - Growth
HDFC Income Fund - Growth
ICICI Prudential Income Fund -Growth
Kotak Bond Scheme - Plan A - Reg - G
BNP Paribas Flexi Debt Fund - Plan A - G
Reliance Dynamic Bond Fund - Growth

(`)

Date

18.29
19.08
36.02
49.29
44.57
18.36
21.22

14-Jan-2010
20-Jan-2010
11-Sep-2000
09-Jul-1998
25-Nov-1999
13-Feb-2009
15-Nov-2004

(`Cr.)
908.38
839.77
2964.98
3205.75
4191.67
393.69
5366.60

Risk

Annualised

Since

Std.

1W

2W

1M

6M

1Y

3Y

Launch

Dev.

9.80
14.11
15.59
12.14
11.55
14.21
11.18

22.88
28.94
39.92
29.15
28.80
31.13
31.38

29.43
34.65
40.18
34.22
35.96
33.79
34.21

18.27
21.69
20.63
21.44
20.14
16.59
17.07

13.49
13.06
12.38
12.25
11.59
11.53
11.51

12.06
13.21
10.50
10.48
9.84
10.48
10.43

9.64
10.38
8.39
9.22
9.36
8.46
6.63

22.69
28.82
27.35
29.19
29.02
21.75
26.15

SHORT TERM FUND

0.25
0.19
0.17
0.16
0.14
0.19
0.16

Yield till

Maturity (Days) Maturity


2726.55
5215.86
6106.45
5602.75
4522.36
6953.25
4179.25

8.27
7.78
7.88
8.05
8.05
7.89
7.90

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

Returns (%)
Scheme Name

Average

Sharpe

NAV

Launch

QAAUM

Risk
Since

Average

Sharpe

Yield till

Maturity (Days) Maturity

(`)

Date

1Y

3Y

Launch

Dev.

19.40

08-Apr-2009

12444.60 12.83 38.85 34.70 20.76

12.69

11.93

9.46

24.04

0.22

6442.25

7.60

HDFC HIF - Dynamic - Growth

54.17

27-Apr-1997

1920.84 14.55 34.30 36.83 20.36

12.26

10.95

9.16

27.72

0.17

5975.05

7.96

Kotak Flexi Debt Scheme - Plan A - Reg - G

19.79

27-May-2008

376.91

21.11 27.09 14.45

12.27

10.18

8.68

17.75

0.17

3055.05

7.90

Birla Sun Life Treasury Optimizer Plan - DAP

183.45

22-Jun-2009

5427.04 10.11 19.49 24.01 14.16

11.33

10.99

8.89

12.63

0.28

2087.80

8.12

8.76
7.18

6M

Std.

Birla Sun Life Dynamic Bond Fund - Ret - DAP

(`Cr.)

1W

Annualised
2W
1M

ICICI Prudential Banking & PSU Debt F - Reg - G

17.68

01-Jan-2010

3961.68

16.59 21.94 13.93

11.11

10.25

9.03

11.80

0.26

1689.43

8.00

Birla Sun Life Short Term Opportunities F - Reg - G

25.85

24-Apr-2003

3659.39 10.25 16.57 20.62 13.00

10.24

10.51

7.41

9.94

0.29

1876.11

8.41

HDFC HIF - S T P - Growth

30.91

06-Feb-2002

1570.33 10.65 18.21 21.11 12.69

9.79

9.96

8.09

10.65

0.21

2233.80

8.51

Average

Yield till

NAV

Launch

Since

Std.
Dev.

ULTRA SHORT TERM


Returns (%)

Risk

(`)

Date

(`Cr.)

1W

Annualised
2W
1M

1Y

3Y

Launch

Kotak Banking and PSU Debt Fund - Reg - G

34.88

29-Dec-1998

373.28

5.73

11.85 15.46 10.87

8.88

10.03

7.35

4.00

0.42

846.80

7.72

Franklin India Low Duration Fund - G

17.37

26-Jul-2010

1749.86

10.62 10.82 12.51 10.59

9.47

10.03

9.59

4.83

0.48

386.90

9.76

Scheme Name

QAAUM

3M

Sharpe

Maturity (Days) Maturity

ICICI Prudential Ultra Short Term Plan - Ret - G

17.23

12-Jun-2009

6639.27

6.33

10.95 14.24 10.47

9.20

9.46

7.91

5.70

0.36

799.35

7.98

Birla Sun Life Floating Rate F - LTP - Ret - G

272.81

05-Jun-2003

1915.00

7.95

9.43

13.29 10.04

9.27

9.59

7.91

3.89

0.50

569.40

7.71

Birla Sun Life Savings Fund - Ret - DAP

173.35

23-Jun-2009 13606.00

7.54

9.75

11.99

9.69

9.08

9.57

8.03

3.05

0.64

503.70

8.12

Kotak Low Duration Fund - Ret - G

1932.14

06-Mar-2008

2064.27

8.65

10.03 11.26

9.68

9.01

9.27

8.14

4.89

0.44

255.50

9.32

ICICI Prudential Flexible Income Plan - Reg - G

295.33

27-Sep-2002 16042.90

7.49

8.99

9.54

8.87

9.50

8.12

2.95

0.59

335.83

7.94

10.97

Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 04/08/2016
Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%

18

Investor awareness program organised by smc held on 16 july 2016 at guwahati

"Hair & scalp analysis session" by Richfeel held on 29 July at SMC head office, pusa road New Delhi.