DELHI - SUNDAY - MARCH 17, 2024
Smart investor.
BENGALURU - CHENNAI - COIMBATORE - HUBBALLI - HYDERABAD - KOCHI - KOLKATA - MADURAI - MALAPPURAM - MANGALURU - MUMBAI - NOIDA - THIRUVANANTHAPURAM - TIRUCHIRAPALLI - TIRUPATI - VIJAYAWADA - VISAKHAPATNAM
India to vote in seven phases, beginning April 19
FESTIVAL OF DEMOCRACY. Almost 97 crore voters to send 543 representatives to the Lok Sabha; elections also to 4 State Assemblies ; counting on June 4
Prabhudatta Mishra
Rishi Ranjan Kala
New Delhi
India will vote members to
the Lok Sabha in seven
phases, beginning April 19,
e2213679
the Election Commission
said announcing the de-
tailed schedule for the gen-
eral elections and polls to
four State Assemblies, and
by-elections to 26
constituencies.
Counting will be held for
all the seats on June 4, Tues-
day. In none of the general
elections at least since 1991,
counting has not happened
on Tuesday, considered an
auspicious day with temple
visit. The entire election
process will be completed
by June 6, well before the
June 16 end of tenure of the
current Lok Sabha.
It is interesting to note
that of the 26 Assembly con-
stituencies for which by-
elections will be held, six
seats are from Himachal
Pradesh that fell vacant on
the disqualification of six
Congress MLAs for defying
the party whip in the re-
cently concluded Rajya
Sabha elections, and not at-
tending the Budget session.
India to step up
support for
Bhutan’s 13th
Five Year Plan
Our Bureau
New Delhi
India is committed to in-
creasing support for
Bhutan’s 13th Five Year
Plan and will also con-
sider Thimphu’s request
to assist in its ‘economic
stimulus programme’,
according to a joint
statement by both na-
tions on the visit to India
of Bhutanese Prime Min-
ister Dasho Tshering
Tobgay.
Tobgay is on an official
visit to India from March
14-18.
This is the Bhutanese
PM’s first overseas visit
after assuming office in
January.
Details p12
In world-first, Agnikul plans sub-orbital launch of 3D-printed rocket
Agnikul Cosmos’ Agnibaan rocket will be India’s first semi-cryo engine; to soar from privately built launchpad
M Ramesh
Chennai
For small rocket maker Ag-
nikul Cosmos, March 22
promises to be a big day.
On Friday, the Chennai-
based, IIT-Madras-incub-
ated space start-up will
test-fire its Agnibaan
rocket, which features the
world’s first 3D printed,
and India’s first semi-cryo-
genic engine.
“It will a big day for Ag-
nikul,” Pawan Goenka,
Chairman, IN-SPACe, told
businessline today.
The rocket is fuelled by
liquid oxygen (LOX),
which is kept in a tank un-
der cryogenic conditions,
and kerosene, which is not.
The 18-meter tall, 1.3 dia-
meter rocket can take a
100-kg payload to an alti-
tude of 700 km.
Satya Chakravarthy, Co-
CM
YK
People living in camps in
violence-hit Manipur will be
allowed to vote from their
camps. The Commission
also said that polls in
Jammu and Kashmir, which
got delayed due to delimita-
tion technicalities, will be
held after the conclusion of
the Lok Sabha elections to
enable deployment of ad-
equate security forces.
Joined by the two newly
appointed Election Com-
missioners — Gyanesh Ku-
mar and Sukhbir Singh
Sandhu — Chief Election
Commissioner (CEC) Rajiv
Kumar said that the Com-
mission will ensure free and
fair elections when close to
97 crore registered voters
will send 543 of their rep-
resentatives to the Lok
Sabha.
The CEC said that there
should be an end to the de-
bate on EVMs as the Com-
mission has established the
fairness of the device in the
last many elections.
CODE OF CONDUCT
Touching upon the Model
Code of Conduct (MCC),
Rajiv Kumar said that any vi-
olation will be judged on
performance record of the
candidates whether they
Why exchange traded currency derivatives volumes slowed in 2023
Gurumurthy K
bl. research bureau
Trading in exchange traded
currency derivatives
(ETCD) slowed in 2023, the
most since 2017.
Data from the Securities
Exchange Board of India
(SEBI) show that in the Na-
tional Stock Exchange
(NSE), 45,748-lakh crore
contracts were traded last
year. This is up just 6 per
cent from 43,318-lakh crore
contracts traded in 2022. It
is also the slowest since
2017 — the year when
volumes fell by 2 per cent.
The turnover volume in
2023 was ₹379.53-lakh
crore. This was just a 10 per
cent rise from ₹344.22-lakh
crore seen in 2022. This was
also the lowest since 2017
when the turnover volume
dropped by 6 per cent.
The major reason for the
founder and Advisor, Ag-
nikul Cosmos, told busi-
nessline that the launch is
significant in several ways.
Apart from the 3D prin-
ted, semi-cryo engine, the
rocket will be launched
from India’s first privately-
owned launchpad though
located inside the Indian
space agency ISRO’s Sri-
harikota spaceport. The
launch pad was set up by
Agnikul in November
2022.
VERTICAL FLIGHT
Further, it would be a fully
guided, vertical ascent
flight. After reaching an
altitude of 10 km, the
rocket will begin its des-
cent and fall into the Bay of
Bengal, about 30 km from
its launch point. The rocket
also features a ‘thrust vec-
tor controlled, gimballed
motor’, which means its
Goldilocks moment.
had earlier violated the
Code or not. He denied the
allegation that the EC sends
more notices to Opposition
leaders than the ruling BJP
leaders on MCC violations,
and said that the past re-
https://play.google.com/store/apps/details?id=com.sdnews.epapers
cords show that the Com-
slowdown in the volume was
the low volatility. Anindya
Banerjee, Vice-President,
Currency Derivatives Re-
search, Kotak Securities,
says: “The volatility in 2023
primarily was the lowest
since 2002 which has caused
the volumes to come down.”
The trading range (spread
between high and low) for
the whole year was just
₹2.57, the lowest since 2002.
The spread in the first
quarter of the calendar year
2023 was ₹2. But that nar-
rowed to ₹1.24 and ₹1.6 in
the second and third
quarter, respectively. In the
final quarter of 2023, the
spread was just ₹0.55.
HEDGERS STAY OUT
The research head of a lead-
ing institution, who did not
want to be named, said that
the trading volume from
corporates that ideally use
the exchange traded derivat-
A file photo of Agnibaan
SOrTeD vehicle at Agnikul’s
launchpad in ISRO’s
Sriharikota spaceport
nozzle can be moved to dif-
ferent angles so that the
thrust can vary the direc-
tion of the flight and the
gimbal-mounted motor
can rotate in multiple
angles. These factors help
in ‘steering’ the rocket
mission has always been fair
and does not hesitate to
take action irrespective of
the power and position of
any leader.
Apart from the MCC, he
dwelt on the Commission’s
plans to tackle three key
ives for hedging had come
down drastically last year.
He said corporates contrib-
ute about 7 per cent of the
total trading volume on av-
erage. That had come down
to about 4 per cent.
According to Vikrant
Sharma, Founder and Fund
Manager, Kushak Capital
Management, low premium
and high cost had kept the
hedgers out of currency de-
rivatives last year. “Hedging
from the ground station.
The vehicle is so de-
signed that the hold-re-
lease mechanism will not
let it take-off unless its en-
gine develops sufficient
thrust — which is not pos-
sible in solid-fuel-powered
rockets.
Chakravarthy, who is a
professor with IIT-M’s De-
partment of Aerospace En-
gineering, said that Agnikul
essentially hopes to test
the flight trajectory control
with this sub-orbital
launch. (In a sub orbital
flight, used to test rockets,
the vehicle does not go high
enough to attain orbital ve-
locity and, hence, falls back
to the earth without going
round the planet.)
BOOMING SECTOR
The next step will be to do a
orbital test, when the
rocket will fly 400-500 km
What you need
to know about
the stress tests
for mutual funds
BIG STORY P2
challenges — money power,
muscle power and misin-
formation. The Election
Commission will also have
its own fact-checking unit
to curb misinformation, he
said adding it will be avail-
able on the official website.
happens majorly on the ex-
ports side. Low forward
premium and low volatility
made the exporters to keep
their exposures unhedged.
Low interest rate differen-
tials, too, did not give any in-
centive for them to hedge ”.
TRADERS’ TAKE
According to experts, about
20 per cent of the trading
volume in currency derivat-
ives comes from the retail
above the earth, Chakrav-
arthy said. Agnikul Cosmos
is one of the two Indian
space start-ups in the
launch vehicle business,
the other being Skyroot,
based in Hyderabad. Two
more start-ups have ap-
plied to the space regulator,
IN-SPACe, for approval,
but their names have not
been made public.
Private rocket compan-
ies hope to provide launch
services to satellite com-
panies; they see big busi-
ness because tens of thou-
sands of satellites are
planned to be launched in
the coming years.
Agnikul, founded by en-
trepreneurs Srinath
Ravichandran and SPM
Moin and mentored by
Chakravarthy, has so far at-
tracted $40 million in fund-
ing from various private
equity investors.
Pointing out the deterior-
ating political discourse, the
CEC said, “We have issued a
strong advisory to the polit-
ical parties. We have col-
lated all the violations dur-
ing the last five years and
based on that we have come
out with a final advisory. We
are putting political parties
on notice, we have asked
them to give a copy of the
guidelines to each star cam-
paigner. We will presume
knowledge of the
guidelines. These are a few
fundamental changes that
we have made,” Kumar said.
ELECTORAL BONDS
The CEC did not respond to
a question about non-dis-
closure by the SBI of the
unique numbers of the
electoral bonds. The Su-
preme Court on Friday is-
sued a notice to SBI over
non-disclosure of the num-
bers unique to each elect-
oral bond. The numbers can
help identify a donor’s con-
tribution to a political party.
Rajiv Kumar said that the
Commission has always
been in favour of transpar-
ency as far as electoral
bonds are concerned. At the
same time, he stressed that
donors’ privacy must be
traders. Narrow range
movement, high cost, low
option premiums have re-
duced their participation.
Manish Maisheri, an inde-
pendent currency trader,
says, “My trading volume in
rupee reduced to 2 per cent
of my total trades last year.
Earlier, it used to be 30-40
per cent.”
Alternatively, Manish
Maisheri, had increased his
trading volume in other cur-
Belying ‘froth fears’, SIP flows
rise, to hit a new high in FY24
Suresh P. Iyengar
Mumbai
Notwithstanding all the
talk of froth and bubbles in
the market, inflows
through systematic invest-
ment plans (SIP) are set to
hit a record high this fiscal.
SIP inflows were up 15
per cent in the last 11
months at ₹1.80-lakh crore
against ₹1.56-lakh crore
logged in the same period
of FY23.
With the exception of
June, SIP inflows have con-
sistently increased every
month to a record high of
₹19,187 crore in February.
SIPs continue to remain
the key investment mode
in MF equity schemes with
inflows through SIP at
₹38,025 crore in the last
two months, accounting
for 78 per cent of the over-
all equity schemes inflow
of ₹48,645 crore. The num-
₹12 • Pages 12 • Volume 3 • Number 76
Gold is still an
attractive
investment inspite
of its all-time highs
YOUR MONEY P3
protected. “In a democracy,
there is no scope for hiding
things, it is all about making
everybody know, we are all
for transparency. This is the
first part of the exercise that
it must be known. The
country now has to ask and
find solutions through an
institutional mechanism
where the donor’s privacy is
also considered,” he said.
AIMING FOR 400
In the 2019 general elec-
tions, the BJP won 303
seats, the Congress 52, the
Trinamool Congress 22, the
BSP 10, the NCP 5, the CPI
(M) 3 and CPI 2. For this
elections, the BJP has un-
leashed a major campaign to
cross 400 seats by under-
scoring the “fulfilment of
Modi’s guarantee” and the
party’s vision to make India
a developed country by
2047.
The Opposition ‘INDIA’
block is yet to sort out seat
adjustments and some
parties like the Janta Dal
(United) and the Rashtriya
Lok Dal (RLD) have already
left the alliance and joined
hands with the BJP. The Tri-
namool Congress has an-
nounced that it would fight
the poll alone.
rencies such as the euro,
pound and even in index de-
rivatives. Another trader,
who did not want to be
named, said that he shifted
about 60 per cent of his cap-
ital from currencies majorly
into equities and to some ex-
tent in commodities.
Increase in trading cost
coupled with low volatility
was also another reason for
traders to stay away from
the currencies.
Last year the Securities
Transaction Tax (STT) was
increased on the sell side of
Futures and Options. from
0.01 per cent to 0.0125 per
cent. For options, the in-
crease was from 0.017 per
cent to 0.021 per cent.
“Considering the cost, a
trader will not prefer to be in
a place where there is a tight
trading range. Rather he
would shift to assets such as
equities that had good volat-
ility last year,” adds Vikrant.
SIPs remain
dominant in MF
equity schemes,
comprising 78%
of the ₹48,645-cr
inflow over the
last two months,
totalling ₹38,025 cr
ber of outstanding SIP ac-
counts increased 29 per
cent as of last month-end
to 8.20 crore against 6.36
crore as of FY23 end. The
new accounts opened so far
in this fiscal were up 53 per
cent at 3.85 crore against
2.51 crore logged in the last
fiscal. However, the discon-
tinuation of SIPs also in-
creased 40 per cent to 2.01
crore as the high market
valuation remained a major
concern among investors.
Bellwether Sensex has
rallied 19 per cent to
RNI No. Applied
INVESTMENT.
FOCUS
BHEL: Book
Profits
Madhav Suresh
bl. research bureau
With the government out-
lining plans to establish
around 93 GW of addi-
e2213679
tional thermal power capa-
city by 2032, the BHEL
stock has close to tripled in
the past year compared to
the BSE Capital Goods In-
dex. While the BSE Capital
Goods index has experi-
enced a notable uptick of
around 67 per cent over
the past one year, the stock
of BHEL has surged by an
impressive 187 per cent.
It appears now that the
growth prospects ahead
has already been factored
into the stock price.
While the company’s or-
der book is robust, in-
vestors can book profits in
the BHEL stock owing to
the run-up in its price and
valuation leaving little
margin for safety.
BHEL is a power equip-
ment manufacturer with a
dominant market share in
the thermal market. The
company is involved in
design, engineering, manu-
facturing, construction,
testing, commissioning,
and servicing of a diverse
array of products and ser-
vices within the power and
industry segments.
ORDER BOOK
The company’s order back-
log totalled ₹1,08,618
crore as on December 31
with further contracts for
over ₹30,000 crore coming
in the power segment
alone.
However, this strong
momentum appears well
factored with the stock
trading at one year forward
PE of 71 times now.
Even during FY2011,
when the business was
strong and order book
peaked at ₹1,64,145 crore,
the stock traded at a for-
ward P/E ratio of 15 times.
72,500 points against
61,112 points in March on
expectations of strong eco-
nomic growth despite un-
certainties in the global
markets.
RETAIL INVESTORS
Ashwini Kumar, Head
(Market Data), ICRA Ana-
lytics, said the MF industry
has seen a surge in retail
participation, with indi-
vidual investors account-
ing for over 60 per cent of
the total AUM.
The increasing retail
participation is also reflec-
ted in the SIP numbers,
with the total number of
accounts increasing to 8.20
crore last month, and the
amount collected through
SIP hitting ₹19,187 crore.
Manish Mehta, National
Head (Sales, Marketing &
Digital Business), Kotak
Mahindra AMC, said first-
time investors continue to
use the SIP route.
. . . . . . . . ND-NDE

2 businessline.portfolio
What to
e2213679
make of MF
stress tests
SMART INVESTOR. Adverse results need not be a trigger to sell your small and mid-cap funds. But
understanding the process helps you make wise moves. Here’s a lowdown
Aarati Krishnan
F
or over three years
now, mutual funds
that invest in small
and mid-cap stocks
have been the toast
of Indian investors. With three-
year returns on these funds at 24
per cent and 22 per cent respect-
ively, they have been attracting
the lion’s share of equity in-
flows. The bountiful inflows, in
turn, prompted these funds to
accumulate more small and
mid-cap stocks, thus keeping
the party going.
But in the last couple of
weeks, the Securities and Ex-
change Board of India (SEBI)
has been warning that the party
is getting too wild. It has also de-
cided to curtail the booze, by
asking fund houses to conduct
stress tests of all their small and
mid-cap funds. This has set off a
correction in small and mid-cap
stocks and levelled net asset val-
ues (NAVs) of funds.
Mutual funds have been con-
ducting liquidity stress tests of
their mid-cap and small-cap
funds and have started disclos-
ing this data from March 15.
Here’s all you need to know.
What’s a stress test?
Ever done a treadmill test for a
health check-up? In this test,
your heart rate is monitored
while you walk or run at a brisk
pace on a treadmill. This helps
your doctor gauge if your heart
functions well when subjected
to abnormal activity.
Stress tests of financial insti-
tutions are similar. They help
regulators or others gauge
whether an institution can func-
tion normally if market condi-
tions turn hostile. Every six
months, Reserve Bank of India
conducts stress tests of banks to
assess if they will fall short of
capital or liquidity, if they face
stress situations. Stress testing
of small and mid-cap funds is an
attempt to determine how funds
fare if they face large and sudden
redemption demands.
Why do we need it?
In India, it is not just bond mar-
ket liquidity that dries up when
adverse events crop up. The li-
quidity for mid and small-cap
stocks can dry up too. This
wasn’t a very big issue as long as
small and mid-cap mutual funds
managed relatively small assets.
But with the flood of money in
Most financial institutions cannot
weather a 25 or 50 per cent outflow of
funds. Therefore, there’s no point in
avoiding small or mid-cap funds because
of these results
CM
YK
the past year, small-cap funds
have grown to manage ₹2.49
lakh crore and mid-cap funds
₹2.95 lakh crore by end of Febru-
ary 2024.
The biggest funds in these
https://play.google.com/store/apps/details?id=com.sdnews.epapers
categories are now at ₹25,000
crore to ₹60,000 crore. At this
size, selling even a 1 per cent po-
sition will mean putting through
stock sales of ₹250 crore to ₹600
crore, which markets can
struggle to absorb. If such sales
were to happen in stocks with
low liquidity, impact costs may
be high, resulting in dispropor-
tionate NAV declines.
How are these tests
conducted?
At the end of each month, small
and mid-cap funds will calculate
how long it will take to liquidate
50 per cent and 25 per cent of
their portfolios based on four
assumptions. First, they will ar-
rive at the average trading
volumes for all their stock hold-
ings for the past three months.
Two, they will exclude the bot-
tom 20 per cent illiquid stocks.
Three, they will assume a
three-fold spike in volumes on a
hypothetical trading day when
markets are under stress
(higher market volatility usually
spikes volumes). Four, they will
calculate how many days it may
take to sell their holdings, if able
to participate to the extent of 10
per cent of a stock’s traded
quantity on the given day. This
yields the number of days a fund
will take to liquidate 25 per cent
or 50 per cent of its portfolio.
Funds will disclose this data
in a standard format on their
websites every month, starting
March 15, 2024. Similar disclos-
ures will be done within 15 days
of the end of every month in fu-
ture. Along with the stress test
data, SEBI has also asked funds
to disclose the assets held by the
top 10 investors, cash positions,
trailing returns, portfolio PE
and standard deviation.
What should
investors look for in
the data?
The main data points investors
need to look out for are the
number of days estimated for li-
quidating 50 per cent and 25 per
cent of the portfolio. They also
need to check if the fund has a
concentration problem — a few
investors holding a large pro-
portion of assets.
Small-cap and
mid-cap funds
which have used
the 35 per cent
leeway granted by
SEBI to own
liquid, large-cap
names fare better
in the stress tests
TEST TAKEAWAYS
 Biggest small-cap funds
take 22-60 days to
liquidate half portfolio
 Funds with large-cap
buffer fare better
 Mid-cap funds to take
half the time
 Funds don’t have an
investor concentration
problem
What does the first
set of data show?
The data shows that small-cap
funds have a bigger challenge in
dealing with stress scenarios.
The biggest small-cap funds re-
ported that they would take any-
where between 22 and 60 days to
liquidate 50 per cent of their
portfolio and 11 to 30 days to li-
quidate 25 per cent. They held
cash positions ranging from 4.5
to 11 per cent of assets as a buf-
fer. Investor concentration
wasn’t an issue, with their top
ten investors holding only 0.61
per cent to 2.1 per cent of the as-
sets. Small-cap funds with as-
sets of ₹10,000 crore or more,
generally reported a longer time
to liquidate.
SEBI rules permit all mid-cap
and small-cap funds to hold cash
or other equities to the extent of
35 per cent of assets. Small-cap
funds that used this leeway to
own large-cap stocks seemed to
be better placed on liquidity
compared to those that didn’t.
Mid-cap funds seem to carry
much lower risk from bulky re-
demptions. Most mid-cap funds
estimated taking about half the
time to liquidate 50 per cent of
their portfolios as small-cap
funds from the same AMC. In-
WISE WORDS.
When all the experts
and forecasts agree —
something else is
going to happen
BOB FARRELL
Wall Street veteran
vestor concentration was
slightly higher for mid-cap
funds, at 1.3 to 4.9 per cent.
Again, funds with significant
large-cap holdings were better
off.
If a fund says it will
take 60 days to
liquidate 50 per cent
of its portfolio, does
this mean it won’t
honour
redemptions?
No. It is important to keep three
things in mind when interpret-
ing this data. One, stress testing
is a hypothetical exercise which
aims to capture what will hap-
pen to a fund in an extreme situ-
ation. Cases of mutual funds in
India facing redemption de-
mands of 25 per cent or 50 per
cent of assets are very rare.
When they’ve happened, it is
debt funds that have faced such
pressures rather than equity
funds. Bond market liquidity in
India is erratic and debt funds
are patronised by corporate
treasuries and institutions,
which can trigger lumpy re-
demptions. Equity funds are
held mainly by retail investors.
History suggests that, when
markets fall, retail investors
may stop new investments, but
they don’t immediately redeem
from equity funds, due to loss
aversion.
Two, AMCs are aware of li-
quidity risks in small and mid-
caps and can use the 35 per cent
leeway to hold large-cap stocks,
apart from cash. SEBI regula-
tions also allow funds to borrow
to the extent of 20 per cent of as-
sets to meet short-term liquid-
ity needs. This gives funds a sig-
nificant cushion. Three, SEBI’s
stress testing requirement is
DELHI
SUNDAY - MARCH 17 - 2024
MARKET ACTION.
e2213679
GETTY IMAGES
likely to force AMCs that have
been flirting with risks to
lighten up on illiquid names and
own more liquid names. After
all, no open-end fund would like
stress test disclosures to alarm
investors into redeeming.
If an adverse global
event were to
suddenly unfold or
markets were to
crash, can the stress
scenario play out?
Yes, it can. In fact, this stress
testing is based on certain as-
sumptions, such as a spike in
trading activity in a stress scen-
ario and individual funds being
able to sell 10 per cent of the
daily volume. A real-life situ-
ation can turn out worse than
what is being assumed. It is also
very difficult to gauge in normal
times, how liquidity or investor
behaviour will play out in a
crisis. But then, most financial
institutions are susceptible to RE POSTS.
crises if they face an outflow of
25 or 50 per cent of their funds.
So, there is no point in staying Investing is like planting an orchard. At the start, it's all
away from small or mid-cap work and zero fruit. After a few years, fruit starts to
funds for this reason. appear. After 10 years, you are reliably producing fruit.
After 30 years, you're producing more fruit than your
Should investors sell family could eat in a lifetime.
their small-cap and @BrianFeroldi
mid-cap funds now?
Most investors are focused on next quarter. You make
That small and mid-cap funds
the most money by having a 1-3 year variant view on a
are risky and hold stocks with
patchy liquidity has been known business and willing to buy/hold dead money for a few
for some time. Stress testing quarters while others wait to pay 100% higher after the
only quantifies the impact of business turns up.
these risks. Therefore, stress @iancassel
testing cannot be a trigger to sell
your funds. But if you were not For some, investing can be like Russian roulette with
aware of the risks lurking in 1000s of chambers. One of the many loaded chambers
these funds when you invested can always align with the barrel. Avoid such trades. The
and cannot handle sharp draw- only trade to avoid is the one that can obliterate you.
downs in NAV, you should re- Have multiple sources of cash flows. Survive first. Win
duce your exposure to them. next.
You can decide to book profits
@unseenvalue
on any of your small or mid-cap
holdings if you need the money
within the next 3-4 years. Selling A lot of investing success is finding the delicate balance
funds that are a part of your of when optimism turns into greed and conservatism
long-term portfolio isn’t a good
idea. While exiting funds is easy,
turns into fear.
@morganhousel
re-entering the same funds at
the right time when the market
is tumbling will be a tough task.
That most small-cap funds have
stopped lumpsum investments
and allow only SIPs makes re-
entry harder.
... . . . . . . ND-NDE

DELHI
businessline.portfolio
SUNDAY - MARCH 17 - 2024
‘Goldilocks’ moment for gold
SHINING BRIGHT. The yellow metal remains an attractive investment option despite ruling at all-time highs
Hari Viswanath
bl. research bureau
The yellow metal has been hit-
ting all-time highs in recent
days and reached a peak of
$2,182.75 last week. This is
when stock indices too globally
are hitting all-time highs. In-
terest rates too are at all-time
highs as far as current rate cycle
is concerned. Such a trifecta,
while not unique, is usually
rare.
This is because, when eco-
nomic growth is good, investors
prefer stocks over bonds and
gold. Further, when interest
rates are high, as they are now,
then too investors typically
tend to prefer bonds and fixed
income over gold, given the
high yields.
So amidst this, what is driv-
ing the yellow metal to its
highest point?
As such there is no clear way
to value gold. Its price and fluc-
tuations in it are a reflection of
investor perception of various
e2213679
macro economic variables and
expectations on how it will play
out in the future. Geopolitical
uncertainty, concerns on infla-
tion are some of the factors that
result in investors flocking to
real assets such as gold.
This time, a confluence of
such factors appears to be creat-
ing a ‘goldilocks’ spot for gold
now. Here are the factors driv-
ing it.
INFLATION DOUBLE TALK
After being completely wrong
and terming inflation as transit-
ory, developed market central
banks did make up for the lost
ground in 2022 with unpreced-
ented increases in interest
rates. However, post some
hawkish stance till the middle
of last year, there have been
confusing signals with different
members of the US FOMC giv-
ing contradictory statements
on inflation expectations and
timing of interest rate cuts.
Recent comments from the
Fed Chair have been contradict-
ory too. While Jerome Powell
told the House Banking Com-
mittee on March 7 that more
evidence is required that infla-
tion is declining and the need to
be careful on timing of interest
rates cuts, he diluted this hawk-
ishness the very next day while
answering questions from the
Senate Banking Committee,
saying ‘interest rate cuts are not
far away.’
These statements have only
added to questions on the seri-
ousness of the central bank to
Financial planning isn’t just investment advice
MONEY MATTERS. The younger generation is more prudent and know that they have to start planning early for retirement
Parvatha Vardhini C
bl. research bureau
bl.portfolio recently caught up
with Krishan Mishra, CEO of
Financial Planning Standards
Board, India, over a web
meeting. Excerpts from the
conversation:
There are only 2,731 CFP
professionals in India today.
Isn’t the penetration of
financial planners quite low?
Doesn’t this show that
unstructured or informal
advice is still widely
prevalent?
FPSB did a research in 2023 on
the ‘Value of Financial Planning’
globally, including in India. The
report, put out in October last
year, clearly indicates that
people have actually started un-
derstanding the benefits of fin-
ancial planning. Clients of CFP
professionals have indicated
that they have more confidence
and less stress in money matters
and financial planning helps
them fulfil unmet financial
needs.
In India, while many people
have indeed burnt their fingers
from unstructured and unregu-
lated advice, regulatory bodies
— be it IRDA, PFRDA, RBI or
SEBI — have been working on
measures so that not everyone is
able to give advice and that it
should come from only the right
person — a certified or a quali-
fied professional. Most of the
unstructured advice comes
from those who put their in-
terest above the client’s
interest.
On the other hand, CFP pro-
fessionals look at the process of
preparing a financial plan in a
CM
YK
GETTY IMAGES/ISTOCKPHOTO
bring inflation down to the tar-
get 2 per cent, especially when
recent inflation prints in the US
for the months of January and
February have been coming in
hotter than expected. This is
one factor that is driving gold
today.
As we mentioned above,
when interest rates are high, in-
vestors prefer bonds over gold.
However, this is only when they
are convinced that the central
bank has kept interest rates at
the level required to tame infla-
tion. When that confidence is
lacking, gold tends to outper-
form. It is not just US Fed, but
lack of clarity from the ECB too
has added to the momentum on
gold.
CENTRAL BANK BUYING
Total gold demand in 2023 has
been highest on record at 4,899
tonnes, according to World
Gold Council (WGC). Signific-
https://play.google.com/store/apps/details?id=com.sdnews.epapers ALERTS.
ant contribution to this was
from central banks across the
world. Their net purchases in
2023 stood at 1,037 tonnes,
which is only slightly lower
compared to the record net pur-
chases of 1,082 tonnes they
made in 2022.
Central banks do not seem to
have done with the purchases
yet. They added 39 tonnes to
gold reserves in January 2024,
more than double of 17 tonnes
made in December 2023. So,
very scientific, systematic
way with a long-term view. This
plan is a robust document,
which is easily 80-100 pages
long. They will look at goals
across various age and life cycles
with everything — beginning
from contingency funds, insur-
ance and retirement to tax plan-
ning, estate planning — being
covered.
As investments in financial
assets increase, financial liter-
acy is gaining prominence.
Thus, while the number of CFP
professionals in India is low
today, the number is only going
to grow. We are in a situation
where we have got more jobs
and less number of people to ap-
ply for those jobs. As people un-
derstand the value we bring to
the table, our professionals are
able to command a premium.
At what stage in their life
cycle do people typically
come to a financial planner
in India?
Initially, people who are on the
verge of retirement or people
who have already retired and
have a lot of money in their
hands or someone who has
some inheritance which has
come suddenly and looking for
help to manage it, were the ones
who approached financial plan-
ners.
However, when you retire,
you are actually late for the fin-
ancial planning exercise. In the
last few years, the younger gen-
eration has been more prudent
and they know they have to plan
reasonably early.
This aspect has come in our
recent research too. It shows
people who have spoken to fin-
ancial planners, taken a plan
and, most importantly, executed
central banks have been net
buyers for eight consecutive
months. Turkey and China were
the leading buyers, as per WGC.
Market observers cite that
those purchases, especially by
China, extended to February as
well.
The Reserve Bank of India
bought 9 tonnes in January this
year, largest monthly addition
since July 2022. RBI’s gold hold-
ings now stand at 812 tonnes.
Central banks buying gold
could be due to two reasons.
One is their need to diversify
from reserve currencies, espe-
cially when inflation is high and
the reserve currencies can lose
some value.
But the other major factor
now that could be driving cent-
ral banks of countries such as
China and Russia is geopolitics.
The sanctions imposed on Rus-
sia post the onset of the Russia-
Ukraine war highlight the finan-
cial risks for some belligerent
countries, of which China is
one. As the second largest
holder of US treasuries after Ja-
pan, given risk of sanctions if
and when it takes the military
route to unify Taiwan, gold is
one asset it will look to con-
tinue to buy with its reserves. In
recent years it has already been
an aggressive buyer of gold.
GLOBAL DEBT
While the above two factors re-
PROFILE
Krishan Mishra
leads the strategy
and operations of
FPSB India. Mishra
has more than 20
years of experience
across financial
services, education
and technology
sectors.
the plan, felt that they are more
secure, confident and know how
to navigate their lives beyond
retirement.
In India, we have RIAs who,
as per SEBI rules, can give
investment advice. Are CFP
professionals a parallel set
of independent
practitioners competing
with them?
There is no competition. Most
times, people confuse financial
planning with investments. The
universe of financial planning is
much larger than investment
advice. That is why this certific-
ation is a professional one. The
right comparison for us is a
CMA, CFA, CA, etc. While about
50 per cent of the CFP profes-
sionals in India are independent
practitioners, they also have
wide opportunities in the in-
dustry. BFSI is the largest re-
cruiter, especially in the private
banking space where these pro-
fessionals act as consultants to
The Gold-Nifty ratio
One interesting factor to
note is the Gold/Nifty50
ratio. The ratio, currently
at 2.97, is 15 per cent
below its 20-year average
of 3.5. During times of
previous markets
downturns when stocks fell
and gold prices went up, it
has peaked at above 5
times
flect demand for gold based on
current risks and uncertainties,
another factor that, in a subtle
way, could be boosting gold de-
mand is the question mark on
how the monetary and fiscal ex-
periments that global central
banks and governments em-
barked on to deal with eco-
nomic crisis will unwind. In
their aggressive attempts to
support economic growth at
any cost, debt levels have
zoomed.
Advanced economies such as
the US, Japan, the UK, France,
etc, have piled on debt since the
global financial crisis. For ex-
ample, in the US, government
debt as a percentage of GDP has
zoomed from around 60 per
cent in 2007 to over 120 per
cent now. Government debt as
percentage of GDP is well over
200 per cent in France and Ja-
pan. What are the long-term
consequences of excessive
money printing? Answers to
these are not clear, but real as-
sets such as gold are good
hedges in case there is no
smooth unwinding. This too is
factor that could be putting the
yellow metal in a sweet spot.
INVESTOR TAKEAWAYS
Gold in general has turned out
to be as good an investment as
equities in the long term and in
some cases even better. For ex-
ample, in the last 20 years, gold,
customers throughout their life
cycle. Apart from that, family of-
fices, securities markets, FP&A
(Financial Planning & Analysis)
roles in treasury department of
multinationals as well as con-
tent writing to spread financial
awareness are areas where CFP
professionals work.
How is the willingness to
pay for financial advice, in
India?
I recently met a CFP profes-
sional who is in Australia. A cli-
ent came to him for a 4,000 AUD
advisory and he had to pay a fee
of 3,000 AUD!. The fee there is
regulated and compulsory.
In India, it is not similar,
though different regulators for
different products have rules.
The services of a CFP profes-
sional here are fee-based. Some
of them have a very large AUM
to the tune of ₹300-500 crore.
And there, they can charge
between ₹1 lakh and ₹3 lakh de-
pending on the client and the
Your Money . bl . 3
in dollar terms, has given CAGR
returns of 9 per cent, beating
S&P 500 CAGR of 8 per cent and
Dow Jones’ 7 per cent CAGR.
Gold in the last 20 years in ru-
pee terms has grown at a CAGR
of 12.74 per cent as against the
Nifty 50’s CAGR of 13.5 per
cent.
More importantly, historic-
ally, during crisis times, gold
has proven to be a perfect hedge
in a portfolio. During calendar
year 2008, when Nifty 50 was
down 52 per cent, gold prices in
India were up by 29 per cent.
Similarly in year 2020, another
crisis year for the global eco-
nomy with a short but deep bear
market, while Nifty 50 managed
to end in the green with returns
of 17 per cent, gold performed
better with returns of 28 per
cent.
In current circumstances too
with markets at all-time high
levels with risks of correction
due to high valuations, gold can
be a good diversifying invest-
ment for investors. Another in-
teresting factor to note is the
Gold/Nifty 50 ratio (see chart).
The ratio (10 grams gold price/
Nifty 50), currently at 2.97, is 15
per cent below its 20-year aver-
age of 3.5. During times of pre-
vious markets downturns when
stocks fell and gold prices went
up, it has peaked at above 5
times.
Given the structural factors
mentioned above driving gold
prices as well as proven histor-
ical performance as good hedge,
gold remains an attractive in-
vestment option in the portfo-
lio of long-term investors, des-
pite the fact that it is ruling at
all-time highs. Gold funds/
ETFS, Sovereign Gold Bonds
remain good options for in-
vestors who don’t want to deal
with the hassle of buying and
storing physical gold.
With inputs from Akhil Nallamuthu
portfolio. A per a recent study,
the annual earnings, on an aver-
age, for independent profes-
sionals have gone up from ₹30
lakh to over ₹1 crore. Though
salaried professionals, espe-
cially in areas such as private
banking see good earnings, inde-
pendent practitioners are thriv-
ing too.
How rigorous is the CFP
certification? Is a CFP
certification taken in India
valid globally?
The course covers, one, invest-
ment planning and insurance;
two, retirement and tax plan-
ning, and thirdly, estate plan-
ning and risk management.
After this stage, we ask people to
prepare a real life financial plan
— known as financial planning
assessment.
Then, we have a final CFP ex-
amination where we cover all
the stages discussed above as
well as standards. The rigour of
the course is like any other pro-
fessional course —none of them
is easy.
But it is flexible. In the first
three levels you have a choice —
you can start from investment
planning or if you are comfort-
able with estate planning and
risk management, you can start
from there too. You can take the
exam at your own pace. Exams
are conducted frequently.
As regards cross-border
movement, it is seamless from
India to the UK. People wanting
to practise in other countries
take a letter of good standing
from us and write examinations
separately for regulations, tax
rules, etc., in those nations. So,
70 per cent of qualification is
global. 30 per cent is local as the
local laws may differ.
TAX QUERY.
SANJIV CHAUDHARY
I sold a residential property in June 2022, which
was purchased long back in 1998. I had the
intention to purchase another property
(ready-built property) within the next two years
and deposited the long term capital gain received
from sale of property in SBI Capital gain account
within two months from the date of sale of
property. In my Income Tax return for FY 22-23
(AY 23-24) the long term capital gain was
declared and tax exemption was claimed under
54E as the amount was parked in the capital gain
account. Now, unfortunately, due to certain
circumstances, I am not able to buy a new
property and want to withdraw the amount from
my capital gain account.
Please advise me whether any penal interest/any
other payment needs to be paid if I pay the
applicable tax with surcharge/cess in the current
financial year, ie 2023-24. The bank needs a
certificate from the concerned AO in this regard
for disbursing the money.
Giri
As per Section 54 of the Income-Tax Act, 1961 (the
Act), if the amount deposited in the Capital Gains
Accounts Scheme (of the Central Government) is not
utilised wholly or partly for the purchase of new
property within two years from date of transfer of the
original property, the amount not so utilised shall be
chargeable under
section 45(2) of the Act
as capital gains.
e2213679
The residential
property, as stated by
you, was sold in June
2022 and the two-year
period expires in June
2024. Thus,
accordingly, the
amount of exemption
claimed by you in the
tax return for the previous year 2022-23 (Assessment
year 2023-24) should be included as your income
from capital gains in the previous year 2024-25 (AY
2025-26) tax return and the necessary tax of 20 per
cent of the income plus applicable surcharge plus cess
shall be payable accordingly.
You may note that no interest/penalty is levied if
you are not able to purchase (or construct) the
property after depositing the amount in the Capital
Gains Account Scheme. This is brought to tax on
expiry of the period allowed to purchase (or
construct) the property.
As per the Scheme, it is provided that at the time of
closure of the account, the depositor will have to
produce a specific authority letter/certificate from the
Income Tax Officer of the respective jurisdiction.
The author is a practising chartered accountant
Send your queries to taxtalk@thehindu.co.in
DSP MF launches ETF
DSP Mutual Fund has announced the launch of DSP S&P
BSE Liquid Rate ETF, an open-ended
scheme replicating S&P BSE Liquid
Rate Index. The ETF will invest in
overnight instruments with 1-day
maturity having relatively low interest
rate risk and relatively low credit risk.
The NFO will remain open for
subscription till March 20. Investors
can invest a minimum of ₹5,000 per
plan/option and in multiples of ₹1 thereafter.
Fresh fund investments suspended
ICICI Prudential Mutual Fund has implemented changes to
its investment policies, effective
March 14, whereby lumpsum
investments into its mid-cap and
small-cap funds have been
suspended. Additionally, SIPs/STPs
are now restricted to ₹2 lakh per
month in each fund. As of February
29, 2024, the midcap and smallcap
funds have recorded assets under
management (AUM) of ₹5,484 crore and ₹7,415 crore,
respectively. These restrictions will not impact SIP or STP
arrangements established prior to the effective date.
... . . .. . . .ND-NDE
 4 . bl . Fund
IT’s a call
for caution
FUND TRACKER. While investors need to
temper short-term expectations, those with
longer horizons can take the SIP route.
Hari Viswanath
Venkatasubramanian K
bl. research bureau
Timing the markets is always
difficult. Many great investors
acknowledge that. However,
beating market returns requires
some broad timing in and out of
sectoral and thematic plays. At
bl.portfolio, we have attempted
e2213679
this when it comes to the IT/Di-
gital sector mutual funds, and it
has played out well so far.
In our initial review of per-
formance of IT funds (Techno-
logy funds review: Wait for a re-
fresh), published in our print
edition dated January 23, 2022,
we had recommended that in-
vestors wait for a minimum 25
per cent correction in Nifty IT
before taking exposure to these
funds. This was when Nifty IT
was hovering at around 36,000.
Following a 26 per cent correc-
tion in Nifty IT from then, we
recommended investors to start
buying into IT funds in our art-
icle (Why it is a good time to in-
vest in IT sector funds) published
in our print edition dated
September 25, 2022).
In both cases, the timing was
near perfect, with our review
capturing the peak and bottom
of the cycle for Nifty IT. But we
acknowledge the larger role of
coincidence first, and second,
the merits of following a valu-
ation-based approach in getting
this right. Since our positive re-
commendation on the IT sector
funds, Nifty IT is up 40 per cent
Changing bank
details in MF folios
BACK TO BASICS. A lowdown on how MF
investors can update bank details in their folio
bl. research bureau
One of the important require-
ments to start creating a mutual
fund (MF) account and invest in
the same is having a valid bank
account. This allows you to do
transactions such as purchase/
redemption of MFs.Dividend
credit can also be done easily
through online/offline modes.
SEBI allows a maximum of five
bank accounts to be attached to
a single MF folio. If there is any
change in the bank account de-
tails, it is necessary for investors
to update it with the fund house.
This ensures the redemption
proceeds and dividends are
credited to the new operational
account.
REASONS FOR CHANGE
One, there might be instances
when MF investors might feel
the need to open an account in
another bank or change the
branch of bank (probably due to
relocating to a new city). In
these cases, you need to update
the new IFSC code and account
number in the MF folio. Two,
typically when banks get
merged or get acquired, the
IFSC code might change. Three,
bank account numbers are re-
vised because banks have mi-
grated to core banking system.
UPDATING FOLIO
In each of the above-mentioned
cases, investors need to update
their bank account details in
their existing folio by providing
the same in the prescribed form
and with supporting
documents.
As per the AMFI guidelines, if
details of only one bank account
is to be changed, one can use the
Change of Mandate form. The
form also has to be signed by all
the folio holders as per the mode
of holding.
However, if changes in mul-
tiple bank accounts associated
with the folio are to be made, in-
vestors need to fill up ‘Multiple
CM
YK
Insight
DELHI
businessline.portfolio
SUNDAY - MARCH 17 - 2024
ALERTS.
Fixed Maturity plans from two MFs
Kotak Mutual Fund and Nippon India Mutual Fund have
both announced the launches of their fixed maturity plans
(FMP) featuring maturity durations of 90 and 1868 days.
Kotak FMP Series 329 (90 Days) is
a closed-ended debt scheme
intended to invest in fixed-income
instruments that offer relatively
low-interest rate risk alongside
moderate credit risk. Nippon India
FMP XLVI Series 5 (1,868 days), a
close-ended scheme, invests in
debt, money market, and G-Sec
instruments that have relatively
high-interest rate risk and
relatively high credit risk. The NFO for Nippon FMP and
GETTY IMAGES/ISTOCKPHOTO
Kotak FMP will be open for subscription until March 19.
Investors can subscribe with a minimum amount of ₹5,000
for both FMPs.
HDFC MF, Navi MF launch passive sectoral funds
HDFC Mutual Fund and Navi Mutual Fund have announced
the launches of the HDFC Nifty Realty Index Fund and Navi
dium term. Fund managers can Nifty IT Index Fund, open-ended schemes that will allocate
POINTS TO NOTE shuffle holdings to decrease IT
investments between 95 per cent and 100 per cent into
stocks and increase other seg- the components of the Nifty
 Indian IT stocks face
ments to reflect market condi- Realty and Nifty IT indices,
business and valuation
tions, business prospects and respectively, while the remaining
headwinds valuations to deliver optimal re- 0-5 per cent will be invested in
 Overseas technology turns. debt, and money market
stocks offer variety and And most of the technology instruments. It should be noted
diversification and digital funds have done well that the HDFC fund is the only
 Digital theme over the years across market scheme available with complete
encompasses cycles. The SIP route has usually exposure to the domestic realty
ecommerce, telecom, worked well in the case of them- sector. The NFO for HDFC fund
e2213679
OTT and social media atic funds. For example, despite and Navi fund will remain open for
firms being extremely volatile as a subscription till March 21 and 22, respectively. Investors
theme, infrastructure-related can invest a minimum of ₹100 in the HDFC fund while the
funds have done quite well when Navi fund has a minimum amount of subscription at ₹10
invested via the SIP route. per plan/option.
in 18 months, bettering Nifty Three technology/digital
50’s 22 per cent return by a wide funds have done well over the
margin. years and investors can con-
In the last one year, actively tinue with SIPs. ICICI Pruden- ETF movers
managed funds have performed tial Technology, Aditya Birla Sun Top ETFs (Exchange Traded Funds) traded on NSE based on
even better. Franklin India explains some of the some more quarters. Amidst Life Digital India and Tata Di- weekly change in price
Technology Fund (Franklin), outperformance. these, the multiple expansion in gital India are funds that in-
Weekly Volume traded
Tata Digital India Fund, Aditya At the same time, a question IT stocks and hope rally face risk vestors can consider for long- NAV (₹) Price (₹)
change in the last
Birla SL Digital Fund, ICICI Pru arises as to what should in- of faltering. term SIPs. in price week
as on Mar 15 (%) (in '000s)
Technology Fund have all out- vestors do now post this Hence, we recommend The first two are especially
performed benchmarks/sec- outperformance? against any lumpsum investing sound funds with a robust long- ETF
toral index nicely by returning In this context, with Nifty IT at this point in time. To those term track record. A 10-year SIP Nippon ETF Hang Seng B 245.8 253.7 2.4 645.4
57.6 per cent, 41.5 per cent, 40.7 hovering at all-time highs even who have near-term goals linked in ICICI Prudential Technology
Nippon ETF Nifty IT 39.7 39.7 0.8 16,288.6
per cent, 37 per cent respect- as earnings have been sluggish to these investments, we recom- fund would have generated an
ively as against Nifty IT TRI of for many players in the sector, mend taking some chips off the XIRR of 22.4 per cent, while SBI ETF IT 396.6 396.0 0.7 43.1
33 per cent and BSE TECk TRI and outlook too uncertain, we table. Aditya Birla Sun Life Digital In- Kotak Nifty 50 Value 20 ETF 139.0 142.0 0.5 393.4
of 33.6 per cent in the same time believe it’s time to get cautious For investors with another 7- dia would have given nearly 23
Bharat Bond ETF - Apr 2030 1,352.3 1,352.6 0.4 42.6
frame. on IT stocks again. Hope of a re- 10 year horizon from here , we per cent.
However, though IT stocks covery in this space has resulted recommend continuing with Thus, investors with a long- Bharat Bond ETF - Apr 2031 1,209.4 1,208.4 0.4 27.4
dominate the portfolio, digital in a multiple expansion-driven your SIPs. term perspective of 7-10 years LIC G-Sec Long Term ETF 25.0 25.1 0.2 129.3
or technology funds offer more rally. But this may face speed- can continue with their SIPs. GOLD ETFs
than just these. Investors have bumps as demand outlook for TAKING THE SIP ROUTE This investment must be as a
the telecom, overseas product tech spending (excluding AI-re- For long-term investors, the part of the satellite portfolio Quantum Gold Fund 55.2 55.5 0.8 595.2
software companies, search en- lated technology) is still hazy. fund route to investing in the meant for diversification. Such HDFC Gold ETF 57.6 57.4 0.8 4,332.2
gines, social media firms, OTTs, Headcount trends in large IT technology theme still offers po- thematic investments must not ABSL Gold ETF 58.7 58.7 0.7 137.9
https://play.google.com/store/apps/details?id=com.sdnews.epapers
e-commerce players, food apps,
among a few other options. Di-
services companies such as TCS,
Infosys and Wipro indicate that
tential for reasonable returns,
though it is better to temper ex-
account for more than 5-10 per
cent of the overall equity Source: Bloomberg. Returns as on Mar 15, 2024
versification into these spaces slow growth may sustain for pectations for the short to me- portfolio.
Best NPS plans
Top pension funds in each category based on 5-year CAGR
Name of the fund
NAV
(₹) Returns (% CAGR) Assets
Wait for
as on (₹ cr)
Mar 15 1-year 3-year 5-year
TIER I: EQUITY PLANS
ICICI Pru Pension Fund 62.6 38.4 17.5 16.3 11,564
fund Kotak Pension Fund
HDFC Pension Fund
TIER I: GOVERNMENT BOND PLANS
57.0
46.0
34.5
34.1
16.9
16.1
16.3
16.1
1,993
34,460
to find LIC Pension Fund
ABSL Pension Scheme
HDFC Pension Fund
27.2
16.9
25.2
10.1
10.4
10.2
6.7
6.8
6.6
8.7
8.5
8.5
5,030
22,890
503
balance
GETTY IMAGES/ISTOCKPHOTO
TIER I: CORPORATE DEBT PLANS
HDFC Pension Fund 25.7 8.9 6.8 8.5 13,627
ABSL Pension Scheme 17.3 8.8 6.6 8.3 277
LIC Pension Fund 25.1 8.4 6.4 8.2 2,675
NFO REVIEW. Helios BAF would use a stock elimination model as a filter TIER I: ALTERNATIVE INVESTMENTS
SBI Pension Fund 18.7 13.7 7.9 9.5 74
HDFC Pension Fund 18.4 12.0 8.9 9.1 226
Vaikam Kumar S Kotak Pension Fund 16.6 14.0 6.5 8.0 12
bl. research bureau
*Source: NPS Trust. Returns as on March 15, 2024
GETTY IMAGES/ISTOCKPHOTO
Even as frontline indices such as
the Sensex and Nifty are nudging Top PMS schemes
Bank Accounts Registeration life-time highs, the broader mar- Based on 5-year returns
Form’. Here, they need to spe- ket benchmarks have turned
cify a particular default or volatile. Specifically, mid- and Returns (% CAGR)
AUM
primary account, from which small-cap indices have been cor- AMC Strategy
(in ~ cr)
1-year 3-year 5-year
purchase/redemption shall hap- recting, due to valuation con-
pen. Further, while making a re- cerns and investor anxiety LARGE CAP
demption request, investors can around mutual fund stress test
ICICI Pru Largecap 188 48.0 24.7 20.7
specify the account where the results. will provide the scheme with Advantage are large funds and
redemption proceeds should be Bond markets have rallied equity fund taxation benefits. have a strong long-term perform- Nippon Life
Absolute Freedom NA 48.4 21.8 19.2
credited. If no account is spe- smartly in recent months as the The fund seeks to use macroeco- ance record over the past decade India
cified, the proceeds shall be government’s fiscal consolida- nomics, market conditions, valu- or so. They are suitable for in- Renaissance Opportunities
NA 39.6 21.7 19.1
transferred to the specified de- tion path and the inflation tra- ations and market sentiments for vestors across risk appetites as Investment Portfolio
fault account. jectory have been positive. deciding the equity exposure. part of their asset allocation and Standard Chartered Long Term
283 37.3 18.6 18.7
One can also change the bank Investors should ideally an- The equity portfolio will elim- in the process of de-risking of Securities Value Compounder
account details or add or delete chor their portfolio to a well- inate any investment idea that their portfolios. HDFC Balanced MULTI CAP
bank accounts in case of mul- defined asset allocation pattern. does not meet its proprietary Advantage has given 17.7 per cent Bonanza Portfolio Edge NA 90.5 42.3 37.0
tiple accounts by visiting the By spreading investments across eight-factor model, which incor- CAGR in the last 10 years, while
websites of Registrar and Trans- equity and debt (add gold, if ne- porates, among other aspects, ac- ICICI Prudential Balanced Ad- Sameeksha Capital Equity Fund 1,198 65.5 31.7 33.9
fer Agents (RTA) - CAMS and cessary) based on their risk ap- counting standards, valuations, vantage has delivered 13.52 per Negen Capital
Special Situ.
770 74.4 32.0 33.5
KFintech. Platforms such as petite, goal horizon etc, they sector or theme importance. cent over the same period. Both & Technology
MFCentral and MFUtility also would be in a position to earn Helios BAF works with the lump-sums and SIPs can be con- Estee Advisors Long Alpha NA 78.5 33.0 33.3
provide such services. reasonable risk-adjusted returns. idea that eliminating poor sidered, as market entry becomes Bonanza Portfolio Multicap NA 95.6 45.1 33.0
Also, one can change the bank In this regard, Helios is com- choices vastly improves the irrelevant in balanced funds
Globe Capital Value 696 67.0 41.1 32.3
mandate in an ongoing SIP by ing out with a new balanced ad- chances of generating better re- since fund managers decide al-
downloading a Change of Bank vantage fund (BAF) that will turns over the long term. location based on multiple MID-CAP
Mandate Form – for SIP from close on March 20. Read on to On the debt or fixed income factors to reduce risk. Unifi Capital APJ 20 NA 52.3 26.1 32.9
the fund house website. Note take an informed call on invest- part, the fund house has not Tata Balanced Advantage and Asit C Mehta
that this form is only for chan- ing in the NFO. stated a definitive strategy. It Baroda BNP Paribas Balanced Ace Midcap NA 95.7 46.9 29.1
Invest. Intermediates
ging bank mandate for SIP and it may, therefore, be difficult to have been around for more than
Right Horizons Super Value NA 51.3 26.0 27.6
doesn’t change your bank ac- THE OFFER gauge whether the fund would five years, and have delivered
count details for redemption or Helios BAF has stated that gross take, for example, accrual or bar- well over this timeframe and can Master Portfolio Master Trust
NA 44.6 25.3 27.3
Services India Growth
dividend payout. equity and equity-related expos- bell or duration strategies for its be considered by investors.
Whenever change of bank ure would normally be main- bond selection process. Helios is a relatively new fund SMALL CAP
mandate request is received, tained between 65 per cent and house and is only a few months Equirus Wealth Long Horizon 901 53.7 19.7 30.7
simultaneously with or just 100 per cent, and the net equity NOTE FOR INVESTORS old. Given the limited track re- Aequitas Invest. India
prior to submission of a re- exposure shall be between 30 per The balanced advantage category cord of the fund house itself and 3,203 92.6 55.0 30.6
Consultancy Opportunities
demption request, fund houses cent and 80 per cent range. Vari- is one of the largest in terms of the availability of other options
Nine Rivers Aurum
or RTAs maintain a precaution- ous derivative strategies would asset size and also has many in the category, investors can Capital Small Cap
NA 64.9 33.7 29.5
ary cooling-off period of 10 days. be used for hedging against mar- funds with very long track re- wait for the new Helios Balanced
Rising Star
Redemption proceeds will be ket headwinds. It endeavours to cord. Advantage scheme to gain a track Valentis Advisors
Opportunity
NA 48.4 24.6 28.1
paid after completion of this allocate greater than or equal to HDFC Balanced Advantage record before considering it for
period. 65 per cent into equities, which and ICICI Prudential Balanced their portfolios. *Source: PMS Bazaar. Returns as on February 29, 2024
. . . . . . . . ND-NDE

DELHI
businessline.portfolio
SUNDAY - MARCH 17 - 2024
On a smooth highway to growth
Venkatasubramanian K
bl. research bureau
Infrastructure as a theme that
spans several sub-sectors has
been in much demand, with
stocks therein recording spec-
tacular gains over the past
couple of years.
However, one part of the in-
frastructure theme, roads and
highway construction, has been
in the sluggish lane for over a
year now. The National High-
ways Authority of India (NHAI)
has been going slow on new road
construction awards this fiscal.
In FY24, between April and
November, the overall length of
new contracts awarded by the
NHAI was 2,815 km, much
lower than the 5,382 km done in
the previous year.
But the awarding pace is set to
increase by the end of the cur-
rent fiscal and certainly in FY25
and the interim Budget has al-
located ₹2.78 lakh crore for
roads and highway construc-
tion. Land acquisition is cited as
the key issue in road awards
slowing down significantly.
Not surprisingly, many listed
e2213679
companies in the space have
been relative underperformers
on tepid order flow, and valu-
ations have become attractive
with their current order book
and a positive outlook.
KNR Constructions is one
such predominantly road con-
struction and irrigation projects
player whose stock has re-
mained lackadaisical amidst a
small-cap frenzy.
A well-diversified order book,
strong execution record and a
sound debt free balance sheet
are positives for the company.
At ₹240, the KNR stock trades
at 15 times its expected per
share earnings for FY24 and at
13 times its likely FY25 EPS. At
these PE multiples, the stock is
available at the lower to mid
band of the 11-20 times that
road players generally trade at,
making a case for buying the
company’s shares with a 2-3-
year perspective. Between FY20
CAPITAL GOODS. Growth prospects in thermal and industrial space seem to be factored in for BHEL
Madhav Suresh
bl. research bureau
Propelled by demographic ex-
pansion, rapid urbanisation, and
increasing industrial activity, In-
dia’s electricity demand is poised
for sustained growth in the near
future. Recognising the insuffi-
ciency of renewable energy
sources alone to meet this escal-
ating demand, the government
has outlined plans to establish
around 93 GW of additional
thermal power capacity by 2032.
Bharat Heavy Electricals Ltd
(BHEL), a power equipment
manufacturer commanding a
market share of around 70 per
cent in the provision of thermal
power equipment, has benefit-
ted significantly from this devel-
opmental push.
While the BSE Capital Goods
index has experienced a notable
uptick of around 67 per cent over
the past one year, the stock of
BHEL has surged by an impress-
ive 187 per cent. Presently, the
stock is trading at a relatively
lofty trailing P/E ratio of 158
times.
Furthermore even when
factoring forward estimates
given the strong growth mo-
mentum, its valuation is quite
expensive at one year forward PE
and EV/EBITDA of 71 times and
48.7 times respectively. It should
be noted that even during the
FY2011 when the order book
peaked at ₹1,64,145 crore, the
stock was trading at much
cheaper levels (see chart).
Hence, while the order book re-
mains good, given the stock’s
pricey valuation, it provides its
investors with little margin for
safety, which makes a case for
booking profits.
BUSINESS
Endowed with Maharatna
status, BHEL, a capital goods
CM
YK
INFRASTRUCTURE. KNR Constructions, upbeat on orders,
execution and financial metrics, is a good investment bet
and FY23, the company’s reven-
ues grew at a CAGR of 18.6 per
cent to ₹3,744 crore, while the
net profits increased at the rate
of 30.3 per cent over the same
period to ₹499 crore.
In 9MFY24, KNR’s revenues
grew by 8 per cent over the same
period in FY23 to ₹2,776.5
crore, while net profits declined
by 20 per cent to ₹295.7 crore.
The decline was largely attribut-
able to an exceptional item
(around ₹138 crore) involving
sale of projects in the previous
fiscal, which resulted in higher
profits then.
DIVERSIFIED BOOK
KNR Constructions is a highway
construction (its key business)
player and also has significant
presence in irrigation and urban
water infrastructure manage-
ment spaces. It operates in five
southern States of Karnataka,
Telangana, Andhra Pradesh,
Tamil Nadu and Kerala.
https://play.google.com/store/apps/details?id=com.sdnews.epapers
Not much steam left
Public Sector Undertaking
(PSU), engages in design, engin-
eering, manufacturing, con-
struction, testing, commission-
ing, and servicing across a
diverse array of products and
services within the power and in-
dustry segments. The power seg-
ment commands a significant
share, contributing close to 79
per cent, while the industry seg-
ment contributes the remaining
21 per cent.
Within the power segment,
the company specialises in the
provision of power plant equip-
ment, including turbo generat-
ors, boilers, turbines, and associ-
The company has a fairly large
client base. This includes NHAI,
Andhra Pradesh Road Develop-
ment Corporation, Karnataka
State Highways Improvement
Project, GMR Projects, Telan-
gana Irrigation, Engineers India,
Highways Department of Gov-
ernment of Tamil Nadu and
Sadbhav Engineering, among
others. There is a blend of cap-
tive, public and private sector
projects to be executed.
KNR Constructions has an
order book of ₹6,745 crore,
which is 1.8 times its FY23 rev-
enues. Around 57 per cent of the
order book comes from HAM
road projects. Another 23 per
cent is made up by irrigation or-
ders and 20 per cent from other
road works. Key projects include
Ramanattukara to Valanchery
bypass, Bangalore-Mangalore
Project, Elevated Highway along
Avinashi Road in Coimbatore
City and Development of six-
lane Chittoor-Thatchur High-
ated accessories, and undertakes
the erection of several types of
power plants spanning gas-
based, coal-based, hydroelectric,
nuclear, and solar power genera-
tion. Although the company ex-
tends its expertise to equipment
catering to other energy sources,
thermal power remains its pre-
dominant area of focus. In the in-
dustry segment, BHEL serves a
broad spectrum of sectors, in-
cluding process industries, rail-
ways, power transmission and
distribution, and defence.
ORDER BOOK
As of December 31, 2023, the
BUY
KNR Constructions
₹240.45
WHY
 Well-diversified order
book
 Strong execution record
 Sound debt-free balance
sheet
way. The company has also in-
dicated that it is trying to win or-
ders worth ₹5,000-₹6,000 crore
in the next one year.
KNR has generally ensured
that it completes projects
within or even ahead of the
deadlines specified by clients
and concessionaire. There are
instances where the company
has completed projects more
than 100 days ahead of the ori-
ginally scheduled deadline.
BOOK PROFITS
BHEL ₹216.70
WHY
 Unfavourable risk-reward
 Valuation looks pricey
 Little margin for safety
company has an order backlog
totalling ₹1,08,618 crore. The
power segment accounts for a
substantial 70 per cent share of
the total order book, while the
industrial and export-oriented
orders contribute 26 per cent
and 4 per cent, respectively.
During the first nine months
of FY2024, the company wit-
nessed a robust surge in order in-
flows, registering a Y-o-Y in-
crease of 137 per cent to ₹36,048
crore. This growth was fuelled by
contracts from prominent PSUs
such as NTPC and NHPC, as well
as private entities such as Mahan
Energen, a wholly-owned subsi-
diary of Adani Power.
BHEL has diversified its port-
folio into other segments like de-
fence. Despite this, recent con-
tracts the power segment in
2024 ytd totalling over ₹30,000
underscore its near-term reli-
ance on the cyclical thermal
power sector, subject to eco-
nomic fluctuations.
PERFORMANCE, OUTLOOK
In 9MFY24, the company ob-
served a moderate 5 per cent Y-
o-Y growth in revenue from op-
erations, totalling ₹15,037 crore.
This growth was primarily
driven by the industrial seg-
ments, which rose by 8.2 per cent
over the same period. However,
despite the revenue uptick,
EBITDA margin experienced a
contraction, declining by more
than 600 basis points to -6.2 per
cent. This decline can be attrib-
Taking Stock . bl . 5
ROBUST FINANCIALS
The company has a fairly strong
balance sheet and healthy finan-
cial metrics. KNR Construc-
tions is debt free and has re-
mained so for the past three
fiscal years.
Another key aspect is that it
has always maintained fairly
healthy margins over a very long
period of time.
From 2018 onwards, it has
managed to maintain an
EBITDA (earnings before in-
terest, taxes, depreciation and
amortisation) of 19-20 per cent,
occasionally even exceeding this
band on the upside, which is
among the best in the industry.
The return in equity for the
company is also robust. KNR’s
RoE was 18.2 per cent in FY23
and 17 per cent in FY22.
Overall, the company checks
all the boxes on orders, execu-
tion capabilities and financial
metrics, and is hurt only by a
temporary slowdown in awards.
In the next couple of years,
KNR Constructions looks set to
ride the infrastructure and high-
ways story.
uted to escalating raw material
costs, which surged by 13.2 per
cent Y-o-Y during the period, and
the execution of old thermal or-
ders with fixed price contracts.
Consequently, the company’s
PAT margin also experienced a
decline, decreasing from -0.9 per
cent to -4.9 per cent over the
period.
From a valuation perspective,
the stock is currently trading at a
one-year forward P/E ratio of
71.2 times, representing a
premium of 117 per cent over its
five-year historical average of
32.9 times. Despite the company
being expected to achieve an
earnings growth of around 50
per cent in absolute terms in
FY2021-2024E, the correspond-
ing surge in the stock price ex-
ceeds 300 per cent.
Examining the period
between 2009 and 2012, charac-
terised by a boom in thermal
power generation and peak or-
der book levels, BHEL’s EBITDA
and PAT margins typically
ranged at 16-21 per cent and 11-
15 per cent, respectively. Con-
versely, considering what
Bloomberg consensus estimates
for FY24E and FY25E earnings
project, these margins may not
reach those levels. It should be
noted that BHEL has been secur-
ing the last few significant con-
tracts through competitive bid-
ding processes which may exert
pressure on profitability mar-
gins, as per the rating agency
CRISIL. Besides that, the com-
pany has an elongated working
capital cycle because of substan-
tial receivables being due from
the central PSUs and State
utilities.
Given these factors, the forth-
coming growth prospects in the
thermal and industrial space for
BHEL appear to be largely priced
into the stock, resulting in an un-
favourable risk-reward proposi-
tion at current valuation levels.
businessline’s editorial policy prohibits analysts from
taking positions in the stocks they recommend — Editor
REALITY CHECK.
JM Financial: Is recent
share price crash a
buying opportunity?
Vaikam Kumar S
bl. research bureau
Over the last few days, the Reserve Bank of India (RBI)
and the Securities and Exchange Board of India (SEBI)
have cracked the whip on JM Financial over alleged
violations in the handling of certain public issuances. On
March 5, the RBI directed JM Financial Products
Limited (JMPL), a non-banking financial company
subsidiary of JM Financial, to immediately cease and
desist the sanction and disbursal of loans against shares
and debentures.
SEBI then barred JM Financial from officiating as lead
manager for any fresh debt issue. JM Financial, however,
has been allowed to continue as lead manager for
existing debt public issue mandates for another 60 days.
This comes after SEBI unearthed discrepancies and
inter-group transactions in a November 2023 issue
during a ‘routine examination’ of public non-convertible
debentures (NCDs) issued that year. The stock has since
been under pressure, recently declining by nearly 21 per
cent month-to-date.
We take a closer look at the different segments of the
e2213679
JM Financial group and the significance of recent
developments. Incorporated in 1973, JM Financial is a
diversified financial services player with four primary
business segments: Investment bank (37 per cent of
FY23 revenue); mortgage lending (39 per cent);
alternative and distressed credit (4 per cent); and asset
management, wealth management and securities
business (19 per cent).
IMPACT OF REGULATORY ACTIONS
The two activities under the lens of the RBI and SEBI fall
are in the investment bank segment, which includes
management of capital markets transactions, advising
on mergers and acquisitions, and private equity
syndication. This segment also includes the institutional
equities business and research, private equity funds,
fixed income,
syndication, and
finance. It is the most
profitable segment for
the company with
profit after tax (PAT)
margins of 31.4 per cent
in FY23 (29.6 per cent
in the nine months of
FY24).
As a result, its PAT
contribution was
around 55 per cent in
FY23 (around 64 per
cent in 9MFY24). The
total volume of
issuances managed by
the company in the public issue of NCDs was around
₹2,227 crore in FY23 (₹4,000 crore in FY22). With a
market share of 25 per cent (down from 35 per cent in
FY22), JM Financial ranked No. 3 for FY23 in the Prime
Database League Table.
JMPL focuses on loan products customised to the
needs of corporates, institutions, small and medium
enterprises (SMEs), and individuals. It focuses on capital
market financing (21 per cent of Q3FY24 loan book of
₹4,600 crore), retail mortgage financing (20 per cent),
bespoke financing (26.5 per cent), financial institution
financing (26 per cent), and real estate financing (6 per
cent). It reported a consolidated revenue of ₹1,023 crore
(33.6 per cent year-on-year) and pre-provision operating
profit of ₹404 crore (47.4 per cent YoY) in FY23.
The RBI’s directive to immediately cease and desist
the sanction and disbursal of loans against shares and
debentures will affect growth in capital market financing
WHAT SHOULD INVESTORS DO?
After the recent fall, the stock currently trades at a
trailing 12-month (TTM) price-to-book (P/B) ratio of
0.89x, a 20 per cent discount to the five-year average of
1.11x. Even though the stock may appear to be at a
significant discount to historical levels, it is still above
the March 2023 level of 0.7x. It is important to note that
the financial performance of the company can be cyclical
and dependent on the overall deal activity, which can be
volatile.
With the increased uncertainty over two key business
activities, we believe the stock could continue to be
under pressure in the coming days. We recommend
potential investors to wait and watch the progress of the
regulatory action before deciding.
WHO AM I?.
Are you an avid investor? How well do you
know corporate India?
Here’s a challenge. Using the five clues below, identify the
company that is being talked about here
1 I am the largest in my segment nationally with
more than half the market share and amongst the
top 5 in Asia.
2 My founder is from Stanford and began his career
with a global leader in tech space. My corporate
identity and brand evolved from his mother’s
name.
3 Only 2 per cent of Indians currently use my
industry products, more than 20 per cent of
Indians are my target audience, leaving enough
scope for me to grow.
4 My annual net profit is crossing ₹100 crore in my
silver jubilee year but in such a short history I
have pioneered quite a few business models.
5 My founder family owns only 25 per cent stake
but is totally committed to my growth. If recent
expansion into a newer geography can be
replicated to a successful business model, I can
aim to be a billion-dollar company soon.
Send your answers by Wednesday 6 p.m. to who-am-i@thehindu.co.in,
with your full name, postal address and phone number. A lucky winner in each
week will get a book sponsored by UNIFI Capital as a reward.
Contributed by Last week's stock:
Gujarat Gas Limited
Last week's winner:
Saranya Kannabiran
... . . . . . . ND-NDE
 6 . bl . Do
Akhil Nallamuthu
bl. research bureau
Market sentiment shifted early
on last week and both Nifty 50
(22,023) and Bank Nifty (46,594)
depreciated. While the former
lost 2.1 per cent, the latter was
down 2.6 per cent.
NIFTY 50
Nifty futures (March contract)
posted a loss of 1.9 per cent last
week as it ended at 22,133. As the
contract moved south, the cumu-
lative Open Interest (OI) of Nifty
futures increased – it went up to
161.4 lakh contracts on March 15
versus 154.8 lakh contracts on
March 7. A fall in price and an in-
crease in OI implies short
build-up.
Not just the futures, the op-
tions data also indicates weak-
ness. The Put Call Ratio (PCR) of
the weekly expiry stood at 0.80,
which means participants selling
a greater number of call options
than put options. Traders short
calls when they are bearish.
However, the chart shows that
Nifty futures managed to close
above the 50-day moving average
(DMA), which now lies at 22,120.
Also, 22,000 is a good base. So,
for the bears to establish a sus-
tainable downtrend, they ought
to drag the contract below
e2213679
22,000.
A breach of 22,000 can lead to a
decline to 21,800. But if there is a
rebound, the contract can face
barrier at 22,400.
As per the option chain and the
price action of Nifty futures, the
support levels below 22,000 are
at 21,800 and 21,500. Similarly,
the price region between 22,400
and 22,600 is a resistance.
Calendar strategy with futures
MASTERING DERIVATIVES. Gains will be the price difference between the two futures contract
Venkatesh Bangaruswamy
Trading commodity derivatives
is more complex than trading
equity derivatives. This is be-
cause commodity is a physical as-
set and is, therefore, driven by
supply. Of course, equity derivat-
ive also has a supply constraint,
as the NSE caps the maximum
number of contracts that can be
traded in any month through the
market wide position limit. Nev-
ertheless, the more realistic sup-
ply-side constraint on commod-
ity derivatives allows traders to
initiate innovative calendar
strategies on an underlying com-
modity. This week, we explore
whether a calendar strategy can
work with equity index and
single-stock futures.
RELATIVE PRICING
In options trading, a long calen-
dar call spread on the Nifty Index
would involve buying the next-
week call and shorting the near-
week call of the same strike. The
objective is to profit from volatil-
ity explosion you expect to take
place in the next-week call after
the near-week call expires. This
could be because of an event that
is likely to take place the next
week, say, the Union Budget.
The motivation is different if
you want to use futures. In such
Uptrend intact
BULLION CUES. Hold on to the long positions
Akhil Nallamuthu
bl. research bureau
Gold experienced a minor cor-
rection, but silver shot up last
week. The former softened 1 per
cent and the latter gained 3.7 per
cent to close at $2,155.6 and
$25.2 per ounce, respectively.
On the MCX, gold futures lost
0.7 per cent to end at ₹65,542
(per 10 gram), whereas silver fu-
tures was up 1.9 per cent to close
at ₹75,650 (per kg).
MCX-GOLD (₹65,542)
Gold futures (April contract),
after seeing a dip in the early part
of last week, was then moving in
a narrow range. Yet, the overall
bull trend remains intact.
The contract is expected to re-
sume the uptrend either from the
current level or after seeing a de-
cline to ₹64,800.
Gold futures can rally to
₹68,000 and then to ₹70,000 in
the short term.
In case the price falls below
₹64,800, it can find support
between ₹63,800 and ₹64,000.
Trade strategy: Last week,
we suggested buying gold futures
at ₹66,000. Hold this position.
Accumulate at ₹64,800. Retain
the stop-loss at ₹63,900.
When the contract goes past
CM
YK
The Derivatives
Nifty 50 at
crossroads
DERIVATIVE
OUTLOOK
 Short build-up in Nifty
futures
 Short build-up in Bank
Nifty futures
 PCR of weekly options is
less than one
From a trading perspective,
one can consider long sided
trades (futures or call option
longs) on the back of the support
at 22,000. But one should stay
cautious. Exit this trade if 22,000
is breached and then consider
taking short trades (futures
short or long puts).
https://play.google.com/store/apps/details?id=com.sdnews.epapers
cases, you must use the near-
month and the next-month con-
tract. With the Nifty Index cur-
rently trading at 22451, the near-
month futures trades at 22528
and the next-month at 22679.
Conceptually, the next-month
contract must trade at a higher
price than the near-month con-
tract because of the interest
factor.
That said, the actual futures
price may be different from the
theoretical price for two reasons.
One, the futures valuation model
does not consider mark-to-mar-
ket margin. And two, the demand
for the contract can push the
price away from theoretical
price. In addition, the next-
month futures price may be more
disconnected from the spot in-
GETTY IMAGES
₹67,000, raise the stop-loss to
₹65,800. Liquidate the longs at
₹68,000.
MCX-SILVER (₹75,650)
Silver futures’ (May series) gain
happened in the second half of
last week.
We expect the upswing to ex-
tend to ₹77,000, a resistance.
Subsequent resistance is
between ₹79,000 and ₹80,000.
So long as the silver futures
trade above ₹74,000, the trend
will be bullish. Support below
₹74,000 is at ₹73,000.
Trade strategy: We recom-
mended going long on silver fu-
tures at ₹72,280 a couple of
weeks ago. Hold this trade.
But move the stop-loss up
from ₹72,700 to ₹73,500.
When the contract goes above
₹76,000, tighten the stop-loss to
₹74,500. Book profits at ₹76,700.
DELHI
businessline.portfolio
SUNDAY - MARCH 17 - 2024
F & O QUERY
F&O Strategy
Buy India
AKHIL NALLAMUTHU, bl. research bureau
Cements call
I executed a 1700-strike long straddle in United
Breweries last week. I bought call for ₹45 and put KS Badri Narayanan
F&O TRACKER. for ₹33. When shall I exit this trade?
Siddharth Cheran India Cements (₹205) has
Bank Nifty slips been moving in a range
below a key level, United Breweries (₹1,738.5): The stock of United between ₹150 and ₹250 for
Breweries Ltd (UBL) was moving in a narrow range of quite some time. The stock
turns bearish ₹1,680-1,725 since the beginning of March. finds an immediate resist-
But in the last two trading sessions, the stock ance at ₹226 and support at
rallied and ended the week above ₹1,725. This means, ₹198. A close below the latter
the likelihood of the rally extending is high. could weaken the stock to
The nearest resistance for UBL is at ₹1,785. A ₹185 and ₹165. On the other
breakout of this can lead to a quick upswing to ₹1,850 hand, a close above ₹226 will
and then possibly to lift India Cements to ₹248.
GETTY IMAGES/ISTOCKPHOTO
₹1,900. The stock can move in a nar-
So, you can retain row range in the short term.
this trade. Exit when F&O pointers: India Ce-
the stock hits ₹1,785. ments March futures closed
At this price level, at ₹206 against the spot price
the 1700-call and of ₹205. The premium has
1700-put option narrowed down over a
price would be at period, signalling unwinding
BANK NIFTY tract is now below both 20- and around ₹90 and ₹6 of long positions. Open in-
Bank Nifty futures (March 50-DMAs. It has also slipped be- respectively. Here, terests saw a marginal in-
series), which broke out of the low the support at 47,000. So, the the sum of ₹96 is crease from 2.05 crore shares
hurdle at 47,700 in the first week odds for further decline are high. greater than your on March 11 to 2.17 crore
of this month, failed to advance The key support levels are at cost of ₹78 (₹45 plus ₹33), a potential profit of ₹18 for shares on March 15, even as
further. Instead, it declined over 46,000 and 45,400. For the trend one lot of straddle. the price moved down from
the last week and closed at to turn bullish, the contract After you exit the trade, if the scrip breaks out of ₹235 to ₹196-level. Option
46,695, losing 2.6 per cent. should surpass the important ₹1,785, consider buying vanilla call options as the trading indicates the stock
As this occurred, the cumulat- resistance at 47,000. Immediate breakout can lead to a swift rally. Exit this call at the could move in the range of
ive OI of Bank Nifty futures shot barriers above this level are at prevailing price when the stock reaches ₹1,850. ₹180-250.
e2213679
up to 54.6 lakh contracts on 47,700 and 48,200. That said, if the stock falls from the current level,
March 15 from 47.2 lakh con- Given the prevailing chart set there is a strong support between ₹1,680 and ₹1,660.
tracts on March 7, showing short up and the F&O data, traders can A break below ₹1,660 can result in the price declining
build-up. consider going short on Bank quickly to ₹1,600.
Substantiating the bearish- Nifty futures or buy at-the- So, if a downswing occurs, hold the position. Exit
ness, the PCR of both weekly and money Bank Nifty monthly put the trade when UBL’s share price drops to ₹1,600. On
monthly options, at 0.7 and 0.8 options. If there is a recovery such a drop, the price of call and put will be
respectively, are below 1 because above 47,000 exit futures short approximately ₹3 and ₹95 respectively. Here as well,
of relatively more call option and go long. Similarly, liquidate the total premium of ₹98 (₹95 plus ₹3) will be greater
selling, a bearish sign. the puts and go for call longs post than your cost of ₹78, a potential profit of ₹20 per lot.
The chart shows that the con- the breakout. However, if neither the rally to ₹1,785 nor the
decline to ₹1,600 happens by the end of this week,
consider exiting the trade irrespective of what the Strategy: Traders can
options prices are. As you are long on options, time consider India Cements 215-
decay will hurt your trade, leading to a loss if the stock strike call, which closed with
consolidates. a premium of ₹2.75. As the
market lot is 2,900 shares per
Send your queries to derivatives@thehindu.co.in.
contract, this strategy will
cost traders ₹7,975.
Profit potentials are high
if the stock rises swiftly. Ini-
month contract. tial stop-loss can be placed at
Combine the above observa- Change in Open Interest (OI) ₹1.6, which can be shifted to
tion with the fact that futures ₹2.5 if the premium rises to
FII Retail
price must converge with the ₹2.8. Traders can aim for an
spot price at expiry, and you can Scrip Weekly Weekly initial target of ₹3.2 and even
As on As on
change change
translate this into a strategy. If Mar 15
%
Mar 15
% aim for ₹3.5.
you believe that the next-month Follow-up: Exit Tech
Future Index Long 86574 0 487779 12
contract is overpriced relative to Mahindra trade.
the near-month contract, then Future Index Short 143964 19 408065 8
you must go long on the near-
GETTY IMAGES/ISTOCKPHOTO
Net Futures -57390 70 79714 31 Note: The recommendations are based
month futures contract and
Index Call options Long 1101433 29 4626679 44
on technical analysis and F&O
short the next-month contract. positions. There is a risk of loss in
The March contract at expiry will Index Call options Short 1052397 38 4562671 38 trading
converge with the spot index Net Call options 49036 -48 64008 -176
whereas the April contract will Index Put options Long 1086112 17 3407471 7
trade closer to the spot index
Index Put options Short 977220 21 3731841 9
than today. Your gains will be the Short Take
price difference between the two Net Put Options 108892 -13 -324370 33
NOTE FOR
TRADERS
futures contract at March expiry
less the price difference when
FII's increased net short on index futures and also cut down net long on call options. These are
bearish indications.
Settlement
you setup the strategy.
If you believe that the
next-month contract is OPTIONAL READING
price basics
overpriced relative to the The strategy must be initiated Stocks that witnessed major change in OI
near-month contract, then only if you believe that the next- bl. research bureau
you must go long on the month contract has a higher im- Weekly
OI
Weekly
near-month futures Company Price (~) price OI
plied rate than the near-month (in lakh) Daily settlement price is the
change % change %
contract and short the contract, which you can determ- closing price of the relevant
next-month contract RISE (as on Mar 15)
ine by substituting the actual fu- underlying index/security on
tures price in the futures valu- APOLLOTYRE 472.95 -8.5 318.5 57.3 the trading day of such con-
dex than the near-month futures ation model. Also, the position INDIGO 3,203.10 3.1 102.2 52.4 tracts. Closing price of a con-
price because the latter is more must be closed on the expiry of DLF 823.70 -10.5 768.8 45.9 tract (futures/options) shall
actively traded than the former. the near-month contract. Note be calculated on the basis of
OFSS 8,453.30 1.8 25.3 45.2
For instance, the near-month that the position benefits from the last half-an-hour volume
contract had almost 10 times the cross margins. SRF 2,428.55 -0.9 19.2 42.5 weighted average price of
volume compared to the next- FALL (as on Mar 15) such contracts or such other
month contract. Also, the near- The author offers training programmes for TATACHEM 1,128.75 -14.2 252.3 -40.5 price as may be decided by
month contract has a narrower individuals to manage their personal the relevant authority from
SAIL 121.70 -12.4 2423.4 -27.4
bid-ask spread than the next- investments time to time. This applies to
MANAPPURAM 165.75 -3.9 873.9 -16.9 all the contracts in the deriv-
MGL 1,264.20 -3.9 104.6 -16.0 atives space stocks options/
Hits higher high PIDILITIND 2,868.00 0.1 40.6 -13.6
futures and index futures/
options. For currency fu-
tures, the settlement price
would be the RBI’s reference
rate on the date of expiry of
CRUDE CHECK. Retain the buy trade Stocks in F&O ban (for trade on Mar 18) the contract.
HINDCOPPER ABFRL BHEL PEL For commodity derivat-
BIOCON MANAPPURAM RBLBANK ZEEL
ives contract, daily settle-
Akhil Nallamuthu
ment price is the closing
bl. research bureau SAIL TATACHEM NATIONALUM price of weighted average
price of all trades done dur-
Crude oil seems to have resumed ing the last 30 minutes of a
the upswing after consolidating trading day. If the number of
over the past few weeks. Brent Change in OI and market positioning
crude oil futures on the Intercon-
tinental Exchange (ICE) appre- Expiry Price (~) OI
Symbol date Indication
ciated 3.9 per cent by closing at (2024) (Weekly change %)
$85.3 per barrel. Crude oil fu-
tures on the MCX was up 3.7 per GETTY IMAGES/ISTOCKPHOTO COMMODITIES (as on Mar 15)
cent by ending the week ALUMINIUM 28-Mar 204.6 (1) 3326 (-24) Short covering
at ₹6,680 a barrel. Since this contract expires on COPPER 28-Mar 762.25 (4.2) 3886 (-5) Short covering
March 19, we will consider April CRUDEOIL 19-Apr 6680 (3.7) 1788 (17) Long build-up
BRENT FUTURES ($85.3) series for analysis.
Brent futures, which has been The April contract bounced off GOLD 05-Apr 65542 (-0.7) 13827 (-23) Long unwinding trades during last 30 minutes
charting a sideways trend since the support at ₹6,350 and moved GOLDGUINEA 28-Mar 52263 (1) 1806 (-6) Short covering is less than 10, then it is
early February, broke out of the above the barrier at ₹6,600. From GOLDM 05-Apr 65367 (-0.7) 16911 (-13) Long unwinding based on the weighted aver-
$81-84 range last week. Thus, the the current level, it is likely to get age price of the last 10 trades
GOLDPETAL 28-Mar 6422 (-0.3) 21039 (-28) Long unwinding
bulls seem to have regained trac- past the nearest resistance of of the day.
tion and the probability of fur- ₹6,800 and hit ₹7,000 soon. LEAD 28-Mar 180.1 (-0.2) 531 (-11) Long unwinding On the other hand, final
ther rally is high. If there is a decline from here, MENTHAOIL 28-Mar 938.2 (-1.2) 517 (-17) Long unwinding settlement price is the clos-
We expect a quick rally to $90, ₹6,600 will act as a support. Be- NATURALGAS 25-Mar 138.3 (-8.8) 62962 (2) Long unwinding ing price of the relevant un-
a resistance. Above this, there are low this level, ₹6,515 and ₹6,350 derlying on the last trading
NICKEL 28-Mar 1522.5 (2.5) - -
barriers at $93 and $100. are the important supports. day of the futures/options
Henceforth, $84 will act as a Trade strategy: We sugges- SILVER 03-May 75650 (1.9) 26408 (19) Long build-up contract. In commodities, all
strong support. Below this, po- ted buying March contract at SILVERM 30-Apr 75581 (1.7) 27355 (-2) Short covering open position at close of
tential support levels are at $81 ₹6,520, which closed at ₹6,720 SILVERMIC 28-Mar 75012 (0) - -
market on the expiry date of
and $79. Notably, the 50-day last week. As the expiry is near by, the relevant contract shall be
moving average coincides at $81. traders can roll over to April ZINC 28-Mar 222.65 (0.7) 3480 (-10) Short covering marked for delivery at this
futures. CURRENCIES (as on Mar 15) price.
MCX-CRUDE OIL (₹6,680) Exit March longs now at USDINR 26-Mar 82.88 (0.2) 2938757 (5) Long build-up On expiry, the difference
The March futures contract of ₹6,720 and buy April futures at EURINR 26-Mar 105.66 (0.2) 193326 (-19) Short covering
between the price at which
crude oil regained bullish mo- ₹6,680. Place stop-loss at ₹6,480. the trade was initiated and
mentum and rallied last week. It When the contract rallies past GBPINR 26-Mar 90.26 (0.1) 98386 (-17) Short covering the final settlement price of a
made a higher high as it sur- ₹6,800, tighten the stop-loss to JPYINR 26-Mar 55.82 (-0.5) 97544 (-10) Long unwinding contract determines the
passed the resistance at ₹6,650. ₹6,650. Book profits at ₹6,950. profit or loss for a trader.
. . . . . . . . ND-NDE
 Chart-Gazing . bl . 7
DELHI

businessline.portfolio
SUNDAY - MARCH 17 - 2024

Sensex, Nifty 50:

72,484.82 and has closed at
Gurumurthy K
bl. research bureau
72,643.43, down 1.99 per cent.
Short-term view: The im-
TECH QUERY
mediate outlook is unclear. Sup-
Nifty 50, Sensex and Nifty Bank port is at 72,280 and resistance
indices fell sharply last week.
We had expected the benchmark
indices to rise last week. That
view had gone wrong. Sensex
and Nifty fell about 2 per cent
Can go either way is in the 73,500-74,000 region. A
break below 72,280 can take the
Sensex down to 71,850. A fur-
ther break below 71,850 can
drag the index down to 70,000.
GURUMURTHY K, bl.research bureau

I have shares of Jindal Poly Films purchased at

₹800. I am a long-term investor. Should I
continue to hold and average at current levels?
each. Nifty Bank index was A strong and sustained rise Or should I exit the stock with a loss?
down 2.6 per cent. The mid-cap INDEX OUTLOOK. above 74,000 is now needed to A R Ramnarayanan, Chennai
and small-cap indices were bring back the bullishness. Only
beaten down the most. Stay out and watch the price action to get clarity in that case, the chances of the Jindal Poly Films (₹492.60): The stock price peaked
The BSE MidCap index was rise to 76,000-76,500 will come at ₹1,444.40 in March 2022 and has been in a strong
down 4 per cent and the BSE into the picture. downtrend since then. The price action in the second
SmallCap index tumbled 5.91 Medium-term view: The half of 2023 indicates lack of strong follow-through
per cent last week. Among the uptrend will remain intact as buyers to take the share price decisively above ₹700.
sectors, only IT ended in green. long as the Sensex sustains That keeps the overall downtrend intact. The outlook
Other sectors fell last week. The above 70,000. That will keep is bearish. Moving average cross-overs on the chart
BSE IT index was up 0.48 per alive the chances of seeing strengthen the bearish
cent. The BSE Realty and BSE 78,000 on the upside in the com- case. Immediate
PSU indices fell the most. They ing months. support is at ₹475. But
were down 9.33 per cent and A break below 70,000 and a the chances are high for
8.49 per cent respectively. subsequent fall below 69,000 the stock to break it.
On the charts, the short-term will turn the outlook bearish. It Such a break can drag
outlook is slightly unclear. The can then take the index down to Jindal Poly Films share
benchmark indices can go either 67,000-66,000. price down to ₹350
way from here. So, considering initially. A further
the volatility and the uncer- DOW JONES (38,714.77) break below ₹350 will

GETTY IMAGES/ISTOCKPHOTO
tainty we suggest the traders to It was a volatile week for the see the price tumbling
remain cautious and trade with Dow Jones Industrial Average. It towards ₹200 in the
strict stop-loss. Risk-averse bounced back sharply from the coming months. To avoid this fall, the stock has to see
traders can better stay out of the low of 38,483.25, but failed to a sustained rise above ₹700. But that looks less likely.
market for some time until a breach 39,200 decisively. The in- For a rise above ₹700 to happen, the stock might need
clarity is obtained on the market dex made a high of 39,201.94 some strong positive trigger. So, we suggest you exit
direction. and reversed lower giving back the stock and accept the loss.
all the gains. The Dow Jones has
STRONG INFLOWS closed the week on a flat note at I have bought Zee Entertainment Enterprises
LEVELS TO WATCH
e2213679

e2213679
The foreign portfolio investors 38,714.77. (ZEEL). My average purchase price is ₹206. What
(FPIs) poured money into the  Nifty 50: 21,880 and Outlook: The price action on is the outlook for this stock?
equities last week. The equity 22,250 the daily chart indicates the Malarvasagan, Hosur
segment saw an inflow of $3.5  Sensex: 72,280 and
struggle for the Dow Jones to
billion – the highest weekly in- 74,000
breach 39,200 over the last few ZEEL (₹142.25): The overall trend is down for ZEEL.
flow since July last year. The weeks. This leaves the bias neg- However, the stock is coming closer to a long-term
month of March has seen a total  Nifty Bank: 46,000 and ative. Dow Jones can fall to trend support, which is poised around ₹110. So,
inflow of $4.92 billion so far. If 47,400 38,200-38,000 this week. A although there is room for a fall to ₹110, the price
the FPIs continue to buy the break below 38,000 will be bear- action thereafter will need a very close watch for a
equities, then the downside in ish. Such a break can drag the in- reversal. Since the stock has been falling since 2018
the Sensex and Nifty could be 46,000, the outlook will turn dex down to 37,200-37,000 in from a high around ₹619, the chances of it halting at
limited. negative. In such a scenario, the the coming weeks. around ₹110 is very high. A strong bounce from
Nifty Bank index can fall to If the Dow Jones manages to around ₹110 might have the potential to take ZEEL
NIFTY 50 (22,023.35) 45,000 and 44,500 . bounce back from around share price up to
Nifty failed to get a strong fol- Medium-term view: The 38,000, it can rise to 39,000- ₹300-350 in a year or
low-through rise above 22,500 44,400-48,650 range remains in- 39,200 again. In that case, two. If that rally
and fell sharply last week. The tact for now. The region around 38,000-39,200 can be the trad- manages to breach
index made a low of 21,905.65 44,000 is a very strong support. ing range for some time. ₹350, then that would
on Wednesday and then re- As long as the Nifty Bank index A decisive break above 39,200 indicate the trend
mained stable for the rest of the dium-term structure. However, can be seen from here itself. sustains above 44,000, the bias and then a subsequent rise past reversal. If that
week. It has closed at 22,023.35, it is important to remain cau- will remain bullish. A break 39,400 is needed to become con- happens, then ZEEL
down 2.09 per cent for the week. tious at the moment rather than NIFTY BANK (46,594.10) above 48,650 can take the index vincingly bullish. Only then the share price can surge to
Short-term view: The out- being overly bullish. As men- Nifty bank index failed to sus- up to 49,500-49,600. A decisive rise to 40,400 will come into the ₹600-₹620 in the next
look is unclear. Support is in the tioned last week, there is not tain the break above 47,400. The break above 49,600 will boost picture. couple of years
21,900-21,880 region. Resist- much room left on the upside; index fell back sharply below the bullish momentum. Such a The US Federal Reserve thereafter. If you are a
ance is around 22,250. A break- 23,150 and 23,650 are strong 47,000 last week. It made a low break will take it up to 51,500- meeting outcome on Wednes- long-term investor and have the risk-appetite to hold
out on either side these two resistances that can cap the up- of 46,310.50 before closing the 52,000 and even 53,000. There- day will be an important event this stock for another five years, then accumulate on
levels will determine the next side. A strong corrective fall is week at 46,594.10, down 2.6 per after, a corrective fall to 50,000 to watch this week. dips at ₹120. Keep a stop-loss at ₹80. Move the
leg of move. possible from either of these cent. and lower levels is possible. stop-loss up to ₹250 when the price moves up to ₹320.
A break above 22,250 will two levels. That corrective fall Short-term view: Immedi- The outlook will turn bearish Move the stop-loss further up to ₹420 when the price
strengthen the bullish case. can drag the Nifty down to ate support is at 46,000. Resist- only if the Nifty Bank index de- touches ₹540. Exit the stock at ₹600. As mentioned
Such break can take the Nifty up https://play.google.com/store/apps/details?id=com.sdnews.epapers
21,000 and even 20,500-19,500 – ance is around 47,400. The Nifty clines below 44,000. That will above, this rally will take time. So you may have to be
to 22,600-22,700. On the other in a worst case scenario. Bank index has to sustain above open the doors for a fall to patient to withstand the intermediate volatility.
hand, a break below 21,880 will In case Nifty declines below 46,000 and then break above 43,000 and lower levels.
be bearish. It will increase the 21,500 from here itself, then the 47,400 to bring back the bullish- I am holding the shares of Bharat Petroleum
downside pressure and drag the rise to 23,150-23,650 can get ness. Only in that case, a rise to SENSEX (72,643.43) Corporation Ltd (BPCL). What is the outlook for
index down to 21,600-21,500. negated. If that happens, then 48,500 and 49,000 will come into Sensex failed to sustain above this stock? Should I continue to hold it or exit?
Medium-term view: The fall the above mentioned corrective the picture again. 74,000 and fell sharply breaking Krishna
last week has not altered the me- fall to 21,000 and lower levels If the index declines below below 73,000. It made a low of
BPCL (₹586.25): The broader trend is up, and it
continues to remain intact. The fall from the recent
high of ₹687.65 made in February this year is just a
correction within the overall uptrend. Immediate
MOVERS & SHAKERS
Dollar recovers, but
support is around ₹545, which can be tested in the
next few weeks. In case the price falls below ₹545,
AKHIL NALLAMUTHU, bl. research bureau there can be an extended correction up to ₹500.
However, a fall below
BALKRISHNA INDUSTRIES (₹2,266.3)
Drops off supply zone upside to be limited ₹500 could be difficult.
As such, the stock can
resume the uptrend
from around ₹500.
Balkrishna Industries, after hitting a That leg of rally will
record high of ₹2,793.70 in January, has have the potential to
been on a downtrend. Few weeks ago, take BPCL share price
the stock slipped below the 50-week up to ₹750 and ₹800
moving average and another important over the long term.
support at ₹2,350. The scrip is unable to Since you have not
REUTERS

move back above ₹2,350, which is now a given your purchase

resistance, and the price action price, it is difficult to give a precise advice. However, if
indicates good selling interest. We CURRENCY OUTLOOK. The outcome of the Fed meeting you are long-term investor and can hold the stock for
expect the stock to depreciate towards another couple of years, then consider buying more at
the support band of ₹2,000-2,050 in the near future. Hence, traders this week will need a close watch ₹520. Keep a stop-loss at ₹460. Move the stop-loss up
can short Balkrishna Industries at around ₹2,270. Add shorts in to ₹580 as soon as the stock moves up to ₹650. Move
case the price rises to ₹2,350. Place stop-loss at ₹2,430 initially. sharply from the low of 4.05 the stop-loss further up to ₹660 when the price
When the stock falls to ₹2,120, move the stop-loss lower to ₹2,210. Gurumurthy K RUPEE WATCH per cent last week. The bias is touches ₹720. Exit the stock at ₹800.
Liquidate the shorts at ₹2,050. bl. research bureau bullish. Immediate resist-
The Indian rupee can
ance is at 4.35 per cent. A Send your queries to techtrail@thehindu.co.in
come under pressure
The dollar index remained break above it can take the
HINDUSTAN UNILEVER (₹2,327.9) stable in the first half of the for a fall to 83.50 10Yr yield up to 4.5 per cent
Breaks below a support week. However, it got a boost again if it declines in the coming weeks.
on Thursday after the US below 83.10 Failure to breach 4.35 per
Hindustan Unilever’s stock, between Producer Price Index (PPI) cent can drag it down to- BANDU’S BLOCKBUSTERS.
July 2022 and January 2024, was data release. The US PPI rose If the Fed meeting out- wards 4 per cent again. In
charting a broad sideways trend. It was 1.55 per cent (year on year) come provides some strong that case, 4-4.35 per cent can On April 1, four years back, piqued by the incessant jokes in the
oscillating between ₹2,440 and ₹2,740. in February, up from 0.95 per trigger for the dollar index to be the trading range for some village at his expense, Bandu Barve decided he’d had enough. It was
But last month, the stock closed below cent rise seen a month ago. breach 104.50, then it could time. time for him to turn ‘smart’. His dead granny’s voice rang in his ears
₹2,440, opening the door for further This has increased the con- be bullish to see a rise to The 10Yr Treasury yield — “Read the papers, Bandya, they tell you all.” So, off went Bandu to
decline. The nearest notable support is cerns that the US Federal Re- 105-106. will have to fall below 4 per the stash of newspapers on his father’s desk. As luck would have it,
the price region between ₹2,100 and serve would not be in a hurry cent to become bearish. If the first paper Bandu got his hands on was the hindu businessline.
₹2,000. Since the probability of the to cut the interest rates. SUPPORTS AVAILABLE that happens, then the yield The stock recos, in particular, had him in thrall. Soon Bandu
price dropping to ₹2,100 is high, we The US Fed meeting out- The euro (EURUSD: 1.0889) can fall to 3.8 per cent and 3.7 metamorphosed into an ace investor and trader.
suggest initiating short positions. Sell now at ₹2,330 and on a rise come is due this week on is struggling to get a sus- per cent going forward.
to ₹2,400. Place initial stop-loss at ₹2,500. When the stock falls to Wednesday. The economic tained rise above 1.09. It
₹2,200, revise the stop-loss downwards to ₹2,270. Once the price projections will also be re- made a high of 1.0964 and CRUCIAL SUPPORT These days, Bandu picks five Last week’s prize
stocks each Sunday, which he winner
touches ₹2,150, exit half of the shorts. Hold the remaining leased. Market will be closely has come down sharply last Rupee (USDINR: 82.89) Moses Santhiyagu
positions with a tightened stop-loss at ₹2,200, and exit at ₹2,100. watching this event to know week. However, there is a strengthened breaking believes will be blockbusters
about the rate cut plans. cluster of moving average above 82.70 initially last over the next week Last week’s winning
supports in the 1.0850- week in line with our expect-
MPHASIS (₹2,488.7) RESISTANCES AHEAD 1.0835 region. ation. However, that did not 1 CAMS stock
Glenmark
BANDU’S PICKS

Forms bullish pin bar The dollar index (103.43)
has risen back well from the
Mphasis’ stock has been on a rise since low of 102.64 last week.
May last year as it found support at However, an immediate res-
₹1,700. After reaching ₹2,800 in early istance is there at 103.50. A
2024, it lost momentum. Particularly, break above it can take the
over the past month, the stock
depreciated considerably. However, in
index up to 104 and 104.50.
But the price action there-
the final two sessions of last week, it after will need a close watch.
bounced off a support at ₹2,360. The 104-104.50 is a strong
Consequently, it formed a bullish pin resistance zone. So, a break
bar candle stick pattern. Also, a above 104.50 might be diffi-
trendline support coincides at ₹2,360. We anticipate a rally in price cult and it will need some
in the coming weeks, potentially to retest ₹2,800. So, buy Mphasis strong trigger. A reversal
shares now at ₹2,490. Accumulate at ₹2,430. Keep initial stop-loss anywhere from the 104-
at ₹2,285. When the stock rises to ₹2,640, trail the stop-loss to 104.50 resistance zone can
₹2,500. Tighten the stop-loss further to ₹2,670 when the price hits take the dollar index down to
₹2,730. Book profits at ₹2,800. 103-102.50 again.
As long as the euro stays sustain. The domestic cur- Pharmaceuticals
above this support zone, the rency made a high of 82.65 2 Solar Industries
bias will remain positive. A and then reversed lower India
Closing price
bounce from this support sharply giving back all the (Mar 7)
zone can take the euro up to gains. 3 Info Edge (I) ₹954.45
1.0950-1.10. A decisive break A very crucial support is at
above 1.10 will then clear the
way for the euro to touch
83. A break below it can take
the rupee down to 83.10 – the
4 Redington Closing price
(Mar 15)
1.11-1.12 on the upside. next important support. A ₹926.45
The outlook will turn neg- further break below 83.10, if 5 Tata Consultancy
Services
ative only if the euro declines seen, can increase the down- Return:
below 1.0835. Such a break side pressure. In that case, -2.93 per cent
can drag it down to the rupee can weaken to-
1.0650-1.0630. wards 83.50 again. Here's your chance to match step with Bandu.
If the rupee manages to re- Guess the stock that will give the best return by next Friday (BSE
BULLISH OUTLOOK verse higher from 83 or prices). By Wednesday noon, mail us your pick and its expected price
The US 10Yr Treasury yield 83.10, it can move up to rise to bandublockbuster@gmail.com with your name, mobile
(4.30 per cent) has risen 82.70-82.65 again. number and address. One lucky winner will get a prize of ₹2,000.

CM
YK ... . . . . . . ND-NDE
 8 . bl . Take 500
DELHI

businessline.portfolio
SUNDAY - MARCH 17 - 2024

Valuation Radar: The Good, The Bad, The Ugly

The Benchmark indices, Sensex Capital Consumer
and Nifty 50 declined 2 and 2.1 per Nifty 50 Sensex Auto Bankex Goods Durables FMCG Healthcare IT Metal Oil & Gas Power PSU Realty Teck
cent respectively last week. Most
P/E 22.7 24.8 29.4 16.0 47.1 84.1 41.1 42.5 32.8 18.3 8.2 25.6 10.9 55.9 38.6
of the sectoral indices ended in
red. BSE Realty declined the most P/BV 3.9 3.7 5.6 2.3 7.5 10.6 9.1 5.2 8.3 2.1 1.7 3.9 1.9 5.3 8.4
by 9.3 per cent followed by BSE Dividend Yield 1.2 1.1 0.9 0.8 0.6 0.4 1.7 0.6 1.6 4.4 2.8 1.4 2.4 0.2 1.5
PSU 8.5 per cent, BSE Metal 7.7
Weekly Return (%) -2.1 왔 -2.0 왔 -4.3 왔 -2.9 왔 -4.5 왔 -4.0 왔 -0.9 왔 -2.8 왔 0.5 왖 -7.7 왔 -5.5 왔 -6.7 왔 -8.5 왔 -9.3 왔 0.8 왖
per cent and BSE Power 6.7
percent. BSE Teck and BSE IT Monthly Return (%) 0.8 왖 1.1 왖 2.1 왖 1.0 왖 3.3 왖 1.3 왖 -0.1 왔 -3.3 왔 -1.1 왔 -2.2 왔 -5.3 왔 -0.9 왔 -4.5 왔 -3.6 왔 0.6 왖
gained 0.8 and 0.5 per cent. Annual Return (%) 29.7 왖 26.0 왖 63.4 왖 19.1 왖 65.9 왖 35.0 왖 19.7 왖 56.8 왖 34.1 왖 39.3 왖 53.0 왖 75.7 왖 83.0 왖 111.5 왖 32.0 왖
The sector indices are disseminated by S&P BSE.

Company CMP EPS PE PB Year End Sales Profit Sales Profit Wkly ROCE DER Yr.High Yr.Low Company CMP EPS PE PB Year End Sales Profit Sales Profit Wkly ROCE DER Yr.High Yr.Low
Qty Qty TTM TTM Rtn Qty Qty TTM TTM Rtn

360 ONE [1] 695.3 20.0 34.8 7.6 202312 25.3 12.0 16.5 7.4 2.4 13.4 2.0 789.0 395.6
Takeaways from Take 500 MRF 141380.8 4776.5 29.6 3.8 202312 9.2 191.5 9.7 241.3 -1.7 7.8 0.2151283.4 81391.0
3M India 29622.0 484.9 61.1 18.1 202312 1.3 8.4 7.9 28.2 -2.6 30.7 0.0 39809.7 21740.0 Multi Comm. Exc. 3258.4 0.1 24083.1 12.5 202312 33.4 -113.8 30.8 -99.6 -9.9 9.3 0.0 3990.2 1289.2

A ......................................................................................................................................................................................................
Wondering how to choose stocks for your Sales (TTM) and Profit (TTM) make Muthoot Finance 1341.0 103.6 12.9 2.2 202312 26.9 19.0 21.7 14.4 -2.6 12.1 2.7 1537.4 911.4

A B B [2] 5626.3 58.9 95.5 20.1 202312 13.3 12.8 22.0 61.9 -2.5 22.9 0.0 5936.5 3143.2 portfolio from the dozens which are listed? the same comparisons for the trailing N .....................................................................................................................................................................................................

Aarti Drugs 453.0 19.6 23.1 3.4 202312 -8.7 0.0 -0.6 8.8 -5.0 15.3 0.5 645.0 310.8 Narayana Hrudaya 1242.5 37.8 32.9 10.2 202312 6.7 22.3 17.0 53.7 5.3 29.3 0.4 1445.1 724.9
Aarti Industries [5] 634.5 12.0 53.0 4.6 202312 3.9 -9.2 -6.9 -26.5 -4.6 10.1 0.6 712.3 438.1 Or how to keep track of the ones you own? twelve months. Natco Pharma [2] 956.2 71.3 13.4 3.2 202312 54.0 241.4 59.1 228.5 -5.8 17.7 0.1 1107.9 520.6
AAVAS Financiers
Abbott India
1367.9 60.0 22.8
28423.3 539.1 52.7
3.1
19.4
202312
202312
23.5
8.7
9.0
26.0
26.1
9.4
13.6
23.3
-3.3
3.6
9.5 3.0 1831.9 1321.1
39.9 0.0 29628.220269.5
Well, the listings on this page help you sift Wkly Rtn (Weekly Return) gives the Natl. Aluminium [5] 136.5 8.1 16.9 1.9 202312 1.5 83.6 -11.3 -24.3 -16.4 13.7 0.0 170.4 75.7
Navin Fluo.Intl. [2] 2999.8 59.4 50.5 6.6 202312 -11.0 -66.1 20.8 -6.2 -1.9 20.7 0.2 4922.0 2900.2
ACC 2503.5 89.2 28.1 3.2 202312 8.3 212.8 11.0 131.1 -5.1 7.9 0.0 2760.0 1593.5 through the leading companies on their change in the price of a stock in the last NBCC [1] 112.0 2.4 46.0 10.1 202312 13.7 21.5 9.5 17.4 -12.1 23.8 0.0 176.5 31.0
Adani Energy Sol 1044.7 10.4 100.0 9.8 202312 16.7 -31.6 18.9 6.3 -2.4 10.2 3.0 1250.0 686.9
Adani Enterp. [1] 3132.5 33.2 94.3 9.7 202312 6.5 130.3 -17.5 84.2 -2.9 9.1 1.7 3349.4 1573.0 fundamentals and keep an eagle eye on one week. NCC [2]
NESCO [2]
233.4
795.1
10.7
48.6
21.8
16.4
2.3
2.7
202312 34.5
202312 24.5
39.9
33.8
37.1
34.7
29.8
32.2
-9.5
-6.9
19.7
19.0
0.2
0.0
267.5 97.7
934.0 505.3
Adani Green 1901.8 10.4 183.0 38.0 202312 13.3 137.0 42.3 160.3 -1.5 7.6 10.8 2016.0 755.3 their financial performance. Here’s a short ROCE (Return on Capital Employed) Nestle India [1] 2607.7 31.1 83.8 81.3 202312 8.3 17.0 13.3 25.5 1.9 59.5 0.1 2770.8 1797.5
Adani Ports [2] 1282.6 40.9 31.4 5.7 202312 44.6 67.9 33.4 68.0 -3.4 9.4 1.2 1356.5 571.4 Netwrk.18 Media [5] 87.7 -1.9 0.7 202312 -4.1 -856.3 31.5 -1455.0 -6.5 0.0 5.8 136.2 48.4
Adani Power 531.4 60.5 8.8 5.1 202312 67.3 31119.6 20.7 130.4 -6.6 13.8 1.9 589.3 166.3 guide to interpreting the numbers: tells you what returns a business is gener- New India Assura [5] 234.0 5.7 41.4 1.4 202312 13.6 -2.1 11.3 152.2 -9.2 3.7 0.0 324.0 94.2
Adani Total Gas [1]
Adani Wilmar [1]
990.9
344.5
5.4 182.4
1.1 324.2
33.7
5.6
202312
202312
4.6
-16.9
17.6
-18.4
3.4
-12.4
12.8
-80.9
-1.8
-5.0
20.7 0.5 1259.9 522.0
14.2 0.3 509.4 285.9
CMP (Current Market Price) is the ating on the capital it uses. NHPC Ltd 83.0 3.7 22.4 2.1 202312 -20.4 -26.8 -6.1 0.1 -7.9 8.1 0.8 115.8 38.7
Nippon Life Ind. 465.0 15.3 30.4 8.2 202312 19.6 38.6 13.7 37.5 -5.5 26.6 0.0 542.6 197.1
Aditya AMC [5] 479.0 24.6 19.5 5.0 202312 8.7 25.9 2.5 14.2 -7.2 33.1 0.0 534.8 307.9 closing price of a stock on BSE on its last DER (Debt Equity Ratio), which divides NLC India 209.5 18.6 11.3 1.8 202312 -14.0 -37.9 3.4 187.0 -4.0 12.4 1.5 293.6 69.8
Aditya Bir. Fas. 207.4 -6.2 6.7 202312 16.1 -593.2 13.9 -400.9 -8.0 0.0 1.7 265.8 184.4
Aditya Birla Cap 173.9 10.4 16.8 1.8 202312 26.8 4.6 21.6 30.3 -4.5 11.6 4.0 199.4 139.4 traded day, usually Friday. a company’s total loans by shareholder NMDC [1]
NMDC Steel
198.4
54.4
19.7
-2.4
10.1 2.4
0.9
202312 45.4
202312
83.2 11.1 10.9 -16.9
-10.9
28.5
0.0
0.1
0.2
252.7 103.8
73.7 29.8
Aegis Logistics [1]
Aether Industri.
381.3 14.6 26.0
806.3 9.5 84.7
3.7
5.2
202312
202312
-10.2
-7.0
3.8
-37.0
-14.1
8.1
23.3
6.1
-12.0
-3.6
17.1 0.5 471.2 280.0
18.5 0.2 1210.8 778.0
EPS (Earnings per Share) is the net funds, indicates how indebted a company NTPC 316.0 20.1 15.7 2.0 202312 -4.0 7.9 3.6 13.3 -10.2 9.7 1.5 360.4 166.7
Nuvoco Vistas 299.7 18.3 16.4 1.2 202312 -7.0 -58.8 1.3 518.3 -6.3 1.9 0.6 398.6 292.0
Affle India [2] 1022.7 19.4 52.7 6.1 202312 32.6 11.4 21.5 8.6 -6.6 18.9 0.1 1336.5 875.3 profit that the company has earned in the is.
AIA Engineering [2]
Ajanta Pharma [2]
3619.3 121.2 29.9
2122.7 58.4 36.3
5.6
7.7
202312
202312
-5.2
13.7
-20.7
56.1
4.9
8.2
16.4
19.2
-2.2
1.9
25.3 0.1 4624.5 2621.0
22.2 0.0 2355.1 1136.8 latest financial period, on each outstand- ROCE and DER give you the latest avail- O .....................................................................................................................................................................................................

O N G C [5] 259.0 38.1 6.8 1.1 202312 -2.2 -9.9 -5.4 8.7 -6.9 13.3 0.5 284.8 146.7
Akzo Nobel 2396.3 90.8 26.4 8.2 202312 4.7 16.8 6.0 32.1 -0.9 32.3 0.1 3076.4 2212.4 ing share. Here, we capture each com- able year-end numbers for the company. Oberoi Realty 1327.1 44.5 29.8 3.8 202312 -35.3 -48.7 2.2 -2.3 -3.6 16.0 0.3 1586.2 814.9
Alembic Pharma [2] 948.4 30.0 31.6 4.2 202312 8.1 48.0 8.1 179.3 -5.1 7.2 0.2 1093.1 463.3
Alkem Lab [2] 5038.9 141.5 35.6 6.1 202312 9.3 40.2 13.0 64.7 -2.0 12.5 0.2 5519.1 3058.9 pany’s total EPS for the last available trail- Yearly High and Low tell you the range Oil India 555.7 69.5 8.0 1.5 202312 3.4 2.8 -16.0 -17.2 -11.8 26.1 0.5 647.4 240.7
One 97 [1] 370.9 -16.2 1.8 202312 38.2 -156.1 39.6 56.5 -7.5 0.0 0.0 998.3 318.4
Alkyl Amines [2]
Alok Industries [1]
1983.0 31.1 63.7
27.5 -1.9
8.5
-0.7
202312
202312
-17.1 -26.8
-27.0 -192.0
-11.8
-24.3
-29.7
-52.3
-7.3
-10.1
27.3 0.1 2794.6 1956.8
0.0 0.0 39.2 10.6
ing 12 months. that the company’s stock has spanned in Oracle Fin.Serv. [5] 8448.8 246.8 34.2 11.3 202312 25.8 69.4 12.7 18.2 1.7 33.1 0.0 8616.0 3175.0
Amara Raja Ener. [1] 792.4 49.5 16.0 2.4 202312 15.4 14.8 10.7 29.4 -8.7 18.5 0.0 922.0 553.7 PE (Price Earnings Ratio) is the single the last one year. Orient Electric [1] 198.1 3.4 58.4 6.9 202312 1.7 -25.3 2.2 -27.6 -3.6 18.3 0.2 279.2 189.1
Amber Enterp.
Ambuja Cements [2]
3337.7 42.2 79.1
601.3 15.4 38.9
5.8
3.6
202312
202312
-4.0 -103.4
13.8 560.3
18.2
4.8
28.7
61.6
-8.6
-0.3
10.5 0.7 4615.2 1762.3
10.7 0.0 624.6 354.2 most important number to gauge if a stock Face value other than ₹10 per share is P .....................................................................................................................................................................................................
e2213679

e2213679
P & G Health Ltd 4871.0 136.5 35.7 10.0 202312 0.0 -6.2 5.6 -2.6 -4.8 43.2 0.0 5640.0 4487.5
Angel One
Anupam Rasayan
2621.2 125.3 20.9
909.8 14.1 64.7
8.4
3.8
202312
202312
41.5
-24.6
14.2
-57.1
30.9
6.9
27.1
-9.3
-4.1
-3.1
44.3 0.6 3900.4 1041.0
12.9 0.4 1249.8 730.0
is expensive or cheap enough to buy. It di- mentioned in brackets next to the com- P & G Hygiene 15805.6 232.9 67.9 48.8 202312 -0.3 10.3 4.6 49.0 1.0 90.4 0.0 19086.213101.1
Apar Inds. 6087.8 207.0 29.4 7.1 202312 1.9 28.1 18.6 74.1 -0.1 50.8 0.2 6523.0 2178.0 vides the company’s current market price pany name. As far as possible, consolid- P I Industries [1] 3650.1 105.0 34.8 6.9 202312 17.6 27.5 18.5 38.1 0.7 21.6 0.0 4010.0 2870.0
APL Apollo Tubes [2] 1475.3 27.5 53.6 12.5 202312 -3.6 -2.2 11.4 26.7 -6.8 26.0 0.3 1806.2 1046.6 Page Industries 34609.3 483.5 71.6 25.2 202312 2.4 23.1 -6.7 -21.1 -3.5 53.6 0.2 43599.033685.7
Apollo Hospitals [5] 5983.6 54.8 109.2 13.2 202312 13.8 59.8 16.1 3.0 -1.1 14.2 0.7 6871.3 4170.0
by its EPS. ated numbers (latest available) have been Patanjali Foods [2] 1398.1 22.7 61.5 5.0 202312 -0.2 -19.6 3.5 -4.0 -8.3 13.2 0.3 1741.0 851.7
Apollo Tyres [1] 473.1 28.4 16.6 2.3 202312 2.7 73.6 6.1 132.7 -8.5 9.8 0.6 559.9 303.6 PB (Price to Book value) measures a used for a holistic picture of the company’s PB Fintech. [2]
PCBL Ltd [1]
1099.2
245.1
-0.1
12.8 19.2
8.8
3.0
202312 42.7
202312 21.5
-56.4
52.4
44.3
4.4
99.6
12.6
-0.2
-8.8
0.0
17.5
0.0 1179.0 562.6
0.3 343.4 108.1
Aptus Value Hou. [2] 313.5 11.7 26.8 4.4 202312 22.8 25.5 26.4 22.1 -9.0 14.6 1.0 388.1 235.0
Archean Chemical [2] 595.2 32.2 18.5 4.7 202312 13.1 3.5 -0.2 21.5 -13.5 42.6 0.6 838.2 495.0 company’s stock price relative to its book finances. Persistent Sys 8425.8 133.7 63.0 14.7 202312 15.2 10.1 22.6 15.4 0.7 28.2 0.2 8979.9 3959.3
Petronet LNG 264.4 23.4 11.3 2.4 202312 -6.5 1.4 -7.7 0.3 -6.1 25.3 0.2 296.2 191.7
Asahi India Glas [1]
Ashok Leyland [1]
509.3 13.3 38.3
161.9 8.0 20.2
5.6
5.4
202312
202312
3.1
6.7
-24.5
74.2
10.8
18.3
-23.8
210.9
-2.2
-5.4
20.4 0.7 651.2 419.8
12.0 3.5 191.5 133.1
value or net worth. PB is the appropriate Given that the top 500 listed companies Pfizer 4379.5 111.0 39.4 6.1 202312 -13.2 -17.6 -7.6 -13.9 -3.2 25.9 0.0 4838.9 3407.0
Asian Paints [1] 2867.8 56.9 50.4 16.6 202312 5.4 35.0 5.7 42.7 -0.1 34.5 0.1 3566.9 2705.9 value measure for banks and asset-heavy are usually the most liquid and well-run, Phoenix Mills [2] 2734.2 55.1 49.6 5.5 202312 44.2 58.4 41.4 50.8 -1.8 11.9 0.6 2972.2 1186.5
Aster DM Health. 431.5 7.0 61.8 4.9 202312 16.2 28.6 18.5 -27.4 -2.8 9.2 1.3 495.2 226.3 Pidilite Inds. [1] 2868.2 33.7 85.2 19.4 202312 4.4 67.8 4.8 37.5 0.1 24.2 0.1 2961.1 2293.1
Astral [1] 2029.6 21.0 96.5 18.8 202312 8.1 22.4 9.5 46.1 -3.3 25.5 0.0 2143.5 1297.9 companies. we’ve restricted the list to the S&P BSE 500 Piramal Enterp. [2] 819.0 67.4 12.2 0.6 202312 17.1 -67.2 -9.1 -36.4 -8.4 2.2 1.6 1140.0 630.2
Astrazeneca Phar [2] 5061.7 63.8 79.3 19.3 202312 22.4 -46.1 26.0 45.0 -6.5 30.5 0.0 7208.0 3102.0 Sales (Qty) and Profit (Qty) capture index constituents. Piramal Pharma
PNB Housing
115.4
627.2
-0.3
51.9 12.1
2.0
1.2
202312 14.1
202312 -2.3
-90.0
25.8
10.4
8.8
-2.2
44.0
-9.0
-10.8
1.9
8.3
0.7 149.0 61.7
5.1 914.0 384.2
Atul 5991.9 121.7 49.3 3.6 202312 -10.3 -32.5 -16.0 -35.7 -1.9 14.8 0.0 7587.0 5925.1
AU Small Finance 578.4 23.7 24.4 3.3 202312 29.2 -4.5 31.6 17.7 1.2 0.0 0.0 813.0 548.2 the growth in a company’s net sales and PNC Infratech [2] 413.7 25.7 16.1 2.3 202312 13.5 32.4 6.1 -13.4 -5.4 13.7 1.4 473.0 261.3
Aurobindo Pharma[1] 1001.4 48.0 20.9 2.1 202312 13.8 90.6 14.8 30.4 -5.4 9.2 0.2 1177.0 455.4 Poly Medicure [5] 1423.5 25.9 54.9 10.2 202312 19.2 30.0 22.4 58.8 -9.2 19.0 0.1 1727.0 921.0
Avanti Feeds [1] 484.2 25.7 18.8 3.0 202312 13.7 14.0 -2.8 27.0 -13.0 21.4 0.0 598.6 321.2
net profits for the latest reporting quarter, Note: Very large percentage changes in Polycab India 4891.4 110.7 44.2 10.2 202312 16.8 15.4 21.9 42.4 0.1 28.1 0.0 5722.9 2755.0
Avenue Super. 3934.4 37.4 105.2 14.7 202312 17.3 17.1 18.6 3.7 0.3 20.1 0.0 4203.0 3292.7 over the previous year, in percentage sales and profit are reflective of a change Poonawalla Fin [2] 462.6 12.7 36.6 4.6 202312 53.0 79.3 58.8 106.3 6.9 7.2 1.6 520.0 274.0
Axis Bank [2] 1048.3 83.5 12.5 2.2 202312 26.4 4.9 32.2 25.2 -5.7 0.0 0.0 1151.5 814.3
terms. We’ve adjusted the numbers for from near-zero or negative value. Power Fin.Corpn.
Power Grid Corpn
381.0
265.6
57.0 6.7
16.9 15.7
1.4
2.8
202312 19.8
202312 2.6
22.5
10.5
13.5
4.8
30.5
4.9
-11.4
-9.2
9.4
12.7
9.1 477.8 116.4
1.6 299.0 164.1
B .....................................................................................................................................................................................................
one-off and exceptional items. Source: Capitaline database Praj Industries [2] 459.7 15.2 30.2 7.6 202312 -9.1 13.0 2.9 33.5 -7.7 31.0 0.0 650.3 299.0
B H E L [2] 216.7 -0.3 2.9 202312 6.8 -451.9 4.3 -115.4 -15.8 2.4 0.2 271.9 67.6 Prestige Estates 1040.8 42.2 24.6 3.8 202312 -22.5 -9.0 3.2 217.9 -12.1 10.4 0.9 1440.0 392.2
BPCL 586.3 140.3 4.2 1.8 202312 -3.1 76.6 -2.1 2007.4 -6.1 6.8 1.3 687.7 327.1 Prince Pipes 532.3 18.8 28.2 4.1 202312 -12.4 6.3 -8.9 80.3 -6.3 12.3 0.1 775.8 522.0
Bajaj Auto 8346.2 261.4 31.9 8.1 202312 31.4 38.0 19.5 31.3 -6.0 26.5 0.0 9020.0 3705.1 Prism Johnson 168.0 0.2 855.9 6.0 202312 -1.4 -106.5 6.7 112.1 -1.4 0.5 1.3 198.9 101.2
Bajaj Finance [2] 6513.2 223.0 29.2 5.9 202312 32.1 22.4 34.2 28.0 1.5 11.8 3.9 8190.0 5487.3 Privi Speci. 1024.9 12.9 79.7 4.6 202312 -3.8 409.9 5.1 -11.8 -12.2 5.5 1.2 1360.0 986.0
Bajaj Finserv [1] 1571.9 48.9 32.2 4.9 202312 33.5 21.1 32.3 30.1 -0.7 12.7 4.3 1741.9 1216.1 Company CMP EPS PE PB Year End Sales Profit Sales Profit Wkly ROCE DER Yr.High Yr.Low Pun. & Sind Bank 58.4 1.3 43.3 2.8 202312 18.2 -69.4 21.3 -24.0 -9.4 0.0 0.0 77.5 23.1
Bajaj Holdings 8248.6 530.5 15.5 1.9 202312 9.8 27.9 12.2 28.3 -4.7 11.5 0.0 9355.0 5791.1 Qty Qty TTM TTM Rtn Punjab Natl.Bank [2] 117.8 6.9 17.0 1.3 202312 22.1 243.5 28.2 318.6 -9.3 0.0 0.0 133.0 44.4
Balaji Amines [2] 2102.0 56.9 37.0 4.2 202312 -34.6 -21.1 -36.2 -52.4 -10.2 39.0 0.1 2736.4 1872.9 PVR Inox 1309.6 -23.6 1.7 202312 64.5 -20.5 90.7 -116.2 -7.5 0.0 1.5 1879.8 1284.7
Balkrishna Inds [2] 2266.3 64.4 35.2 5.3 202312 5.0 181.8 -8.3 6.1 0.0 14.4 0.4 2793.7 1912.3
Balrampur Chini [1] 359.2 29.0 12.4 2.3 202312 25.4 97.3 26.9 115.9 -4.9 10.4 0.6 485.8 343.5 Q .....................................................................................................................................................................................................
Bandhan Bank
Bank of Baroda [2]
183.2
253.8
18.5
36.5
9.9
6.9
1.4
1.1
202312 22.5
202312 21.0
152.2
11.2
15.7
32.5
-9.3
61.7
-6.1
-9.9
0.0
0.0
0.0 272.0 173.5
0.0 285.5 155.7
H ..................................................................................................................................................................................................... Quess Corp 500.4 16.0 31.3 2.8 202312 8.4 79.2 12.8 3.1 -1.0 9.1 0.4 580.0 337.5
HPCL 469.0 119.2 3.9 1.5 202312 1.4 60.5 -0.7 297.4 -7.8 -8.0 1.6 594.5 220.9
Bank of India
Bank of Maha
134.4
59.2
14.1
5.2
9.6
11.4
1.0
2.3
202312 19.7
202312 25.2
111.0
33.7
31.8
31.7
105.6
73.7
-8.1
-4.4
0.0
0.0
0.0 156.4
0.0 70.0
67.0
22.8
HUDCO 188.2 10.3 18.3 2.4 202312 17.7 104.2 9.4 13.6 -7.0 8.8 4.2 227.0 40.5 R .....................................................................................................................................................................................................

Happiest Minds [2] 793.4 15.3 51.8 8.7 202312 11.7 -5.0 17.3 1.5 -4.5 28.1 0.5 1022.3 763.5 RCF 129.2 3.5 36.5 1.5 202312 -21.4 -95.4 -14.8 -81.2 -8.1 21.8 0.6 190.0 89.5
BASF India 3219.9 71.6 45.0 8.7 202312 76.3 211.1 32.9 490.1 -0.1 24.8 0.0 3495.0 2222.8 Hatsun Agro [1] 1131.5 10.8 105.0 17.2 202312 11.3 23.6 9.2 32.0 0.2 11.1 1.5 1232.0 786.0 Radico Khaitan [2] 1587.2 18.8 84.6 9.2 202312 46.6 22.7 24.0 10.1 1.3 11.4 0.2 1882.1 1069.6
Bata India [5] 1390.4 22.5 61.8 12.7 202312 0.4 -30.3 3.6 -9.7 -4.1 19.6 0.7 1770.1 1369.7 Havells India [1] 1483.8 18.9 78.7 13.5 202312 6.9 1.5 9.3 10.9 -3.8 21.9 0.1 1590.9 1128.1 Rail Vikas 245.8 7.0 35.2 6.5 202312 -6.4 -6.2 -0.5 1.1 3.3 17.2 1.0 345.6 60.3
Bayer Crop Sci. 4989.2 178.1 28.0 7.2 202312 -8.0 53.3 3.4 18.0 -8.9 32.1 0.0 6202.0 3922.5
HCL Technologies [2] 1647.6 57.9 28.5 6.8 202312 6.5 6.2 10.9 8.6 0.6 27.6 0.1 1696.5 1016.5 Rain Industries [2] 160.6 -27.9 0.7 202312 -24.9 -1349.7 -13.7 -165.2 -8.9 16.3 1.3 219.7 141.1
Berger Paints [1] 557.9 9.7 57.5 13.4 202312 7.0 49.1 7.9 26.5 -2.7 23.3 0.3 679.1 470.9
HDFC AMC [5] 3820.6 83.4 45.8 13.5 202312 20.0 32.6 13.4 28.0 2.1 32.3 0.0 4066.1 1595.3 Rainbow Child. 1106.5 21.6 51.1 9.9 202312 9.6 7.3 19.1 29.6 -2.3 24.1 0.7 1488.5 682.0
Bharat Dynamics 1681.5 26.0 64.7 9.1 202312 30.6 61.2 -24.1 -2.2 -6.5 9.3 0.0 1984.4 879.0
HDFC Bank [1] 1452.2 77.7 18.7 2.5 202312 73.3 35.9 58.6 34.6 0.4 0.0 0.0 1757.8 1363.5 Rajesh Exports [1] 290.0 24.8 11.7 0.6 202312 -30.7 -97.1 -1.7 -39.1 -8.7 10.9 0.1 669.0 280.3
Bharat Electron [1] 188.9 4.9 38.7 9.3 202312 1.9 40.2 3.5 29.5 -12.3 27.0 0.0 216.7 89.7
HDFC Life Insur. 632.2 7.1 89.2 9.6 202312 6.0 16.3 15.1 0.8 1.7 0.6 0.1 710.6 458.0 Ramkrishna Forg. [2] 619.0 17.5 35.4 4.4 202312 36.1 42.3 26.6 19.9 -14.5 18.3 1.2 815.0 266.0
Bharat Forge [2] 1119.2 18.7 59.9 7.4 202312 15.3 220.6 17.8 35.8 -5.1 7.3 1.0 1330.0 744.0
HEG 1884.5 98.1 19.2 1.7 202312 6.1 -58.3 -2.3 -32.6 10.9 14.6 0.2 2009.0 919.0 Ratnamani Metals [2] 2632.1 88.8 29.7 6.6 202312 14.4 -0.3 28.2 44.5 -7.5 27.1 0.1 3924.0 1916.0
Bharti Airtel [5] 1220.4 20.9 58.4 8.7 202312 5.9 22.8 10.2 65.1 1.8 12.7 2.8 1222.7 738.7
Hero Motocorp [2] 4583.4 186.5 24.6 5.2 202312 20.6 50.6 10.2 42.5 -1.5 23.1 0.0 4980.0 2246.8 Raymond 1742.0 258.1 6.7 2.8 202312 10.1 92.3 6.7 140.0 -1.0 21.1 0.9 2240.0 1092.6
Bikaji Foods [1] 484.5 7.5 64.8 11.6 202312 23.0 14.4 14.4 51.7 -9.2 17.3 0.2 605.0 333.0
HFCL [1] 90.1 2.0 44.1 3.6 202312 -4.9 -14.4 1.8 -1.0 -12.1 15.1 0.3 117.8 55.8 RBL Bank 224.4 19.7 11.4 1.0 202312 27.8 8.9 27.0 52.0 -12.3 0.0 0.0 300.5 131.6
Biocon [5] 251.7 10.0 25.1 1.6 202312 34.4 275.7 49.0 87.6 -10.7 5.7 0.9 307.0 191.6
Hind. Unilever [1] 2327.9 43.9 53.0 10.9 202312 -0.3 -0.7 4.8 4.3 -3.8 24.9 0.0 2768.5 2300.0 REC Ltd 446.8 49.9 9.0 1.8 202312 23.2 13.5 16.0 26.2 -5.5 9.1 6.5 524.0 113.2
Birla Corpn. 1416.3 38.8 36.5 2.0 202312 14.7 118.7 11.6 187.5 -8.4 3.8 0.9 1801.3 848.9
Hind.Aeronautics [5] 3098.9 91.9 33.7 8.2 202312 7.0 9.2 8.1 0.7 -6.6 18.8 0.0 3428.8 1237.5 Redington [2] 211.5 15.4 13.7 2.4 202312 8.4 -10.3 18.6 -15.9 3.2 25.4 0.3 221.8 136.3
Birlasoft Ltd [2] 755.0 20.1 37.5 7.7 202312 9.9 884.5 10.1 57.8 -2.3 17.2 0.0 861.6 250.4
Hindalco Inds. [1] 533.1 41.7 12.8 1.2 202312 -0.6 71.1 -3.3 -20.0 -0.7 10.7 0.7 620.6 381.0 Relaxo Footwear [1] 891.0 8.1 109.6 11.7 202312 4.7 28.1 7.9 31.3 6.6 11.6 0.1 974.0 752.8
BLS Internat. [1] 353.1 6.9 51.5 15.3 202312 0.0 16.4 27.0 49.4 2.1 31.9 0.0 430.0 149.7
Hindustan Copper [5] 271.0 3.1 86.4 12.0 202312 -28.3 -21.4 3.0 20.3 -3.2 17.8 0.1 306.8 94.0 Reliance Industr 2837.3 103.3 27.5 2.6 202312 3.9 10.0 0.6 10.4 -4.1 10.0 0.5 3024.8 1979.1
Blue Dart Expres 5694.2 123.3 46.2 11.1 202312 3.4 0.3 0.8 -33.2 -3.5 26.9 1.1 7649.9 5633.0
Hindustan Zinc [2] 289.8 19.7 14.7 9.0 202312 -7.4 -5.9 -13.5 -23.5 -6.7 48.5 0.3 344.0 285.0
Blue Star [2]
Bombay Burmah [2]
Borosil Renew. [1]
1273.2
1615.7
498.0
17.4
23.6
-1.4
73.1
68.4
11.1
2.8
7.0
202312 24.9
202312 2.1
202312 34.3
71.9
278.5
-397.7
18.1
4.7
64.0
42.5
141.4
-123.6
https://play.google.com/store/apps/details?id=com.sdnews.epapers
-3.9
-7.6
-9.3
23.9
17.6
8.1
0.5 1358.7 672.5
1.3 1838.0 780.7
0.5 667.4 380.1
Hitachi Energy [2]
HLE Glascoat [2]
6608.1 23.8 277.5
439.9 7.0 62.5
22.9
8.7
202312 24.2
202312 11.7
401.5
-61.9
14.6
8.7
6.5
-32.2
0.9
-9.6
12.9
22.1
0.2 6875.0 3030.0
0.8 698.6 437.1
Restaurant Brand
RHI Magnesita [1]
Rites
105.4
528.6
-4.2
6.6 79.8
622.6 19.2 32.4
7.1
2.7
5.8
202312 14.8 -171.8
202312 43.1
202312 0.8
-32.9
-14.2
21.3
52.2
-7.8
-8.6
-56.3
-15.6
1.5
-5.5
-15.6
0.0
10.9
28.3
1.1
0.4
0.0
137.9
830.0
826.2
83.7
503.5
330.0
Home First Finan [2] 824.2 32.4 25.5 3.8 202312 44.2 34.2 46.0 27.5 -5.3 10.3 2.4 1058.8 657.5 Rossari Biotech [2] 709.0 22.7 31.2 4.0 202312 19.1 33.9 4.5 22.6 -3.9 17.5 0.1 903.5 536.1
Bosch 29572.6 571.2 51.8 7.5 202312 14.9 47.9 16.8 22.2 0.3 17.1 0.0 30497.717925.4
Honeywell Auto 38220.1 526.2 72.6 10.1 202312 5.3 20.5 21.2 16.7 1.4 19.4 0.0 44100.034455.0 Route Mobile 1566.6 59.9 26.1 4.9 202312 3.9 13.2 26.0 38.7 -1.1 20.0 0.0 1759.5 1209.1
Brigade Enterpr. 870.3 13.5 64.7 6.0 202312 43.1 29.2 13.9 38.1 -4.8 8.2 1.6 1107.7 446.0
Britannia Inds. [1] 4976.3 89.8 55.4 42.1 202312 2.2 -11.1 5.3 17.6 1.8 48.2 0.9 5386.3 4154.0 I .......................................................................................................................................................................................................
S ......................................................................................................................................................................................................

C ......................................................................................................................................................................................................
IDFC
IOB
110.8
60.1
3.7 29.6
1.3 45.3
1.5
4.7
202312 -125.7
202312 22.2
-16.6
30.5
4.7
22.8
-42.4
25.5
-4.1
-9.1
-24.4
0.0
0.0
0.0
133.8
83.8
75.5
20.9
SAIL 121.8 8.2 14.9 0.9 202312 -6.8 14.5 0.4 3.4 -12.4 5.3 0.4 150.0 80.5
C.E. Info System [2] 1740.0 22.9 75.9 15.5 202312 36.0 3.7 29.7 21.9 -0.3 27.1 0.1 2340.0 983.5 Samvardh. Mothe. [1] 111.7 2.4 47.1 3.4 202312 27.2 19.4 28.7 56.2 -6.1 8.6 0.7 126.6 61.8
IOCL 161.2 33.2 4.9 1.4 202312 -2.8 1067.8 -3.9 662.4 -7.7 8.0 1.0 196.8 75.8 Sanofi India 7752.9 256.4 30.2 17.6 202312 3.3 13.2 2.9 12.5 -8.3 40.3 0.0 9370.4 5329.7
Campus Activewe. [5] 232.6 2.6 89.1 12.0 202312 1.4 -48.5 -3.8 -32.0 -5.9 22.9 0.6 389.0 219.7
I R C T C [2] 913.6 14.2 64.3 25.7 202312 21.8 22.0 24.9 20.6 -2.5 56.7 0.0 1049.8 557.2 Sapphire Foods 1441.8 29.2 49.4 7.0 202312 11.6 -68.9 14.6 49.7 -4.0 8.1 0.8 1565.3 1120.7
Cams Services 2993.0 66.1 45.3 18.3 202312 18.9 21.1 11.3 14.2 3.2 44.3 0.1 3240.0 2002.1
IRFC 136.8 4.6 29.6 3.7 202312 8.4 -1.8 12.0 -7.1 -4.8 5.3 9.3 192.8 25.5 SBI Cards 699.2 24.6 28.4 6.0 202312 31.8 7.8 28.4 4.4 -1.1 13.1 3.1 932.4 678.8
Can Fin Homes [2] 724.9 53.1 13.6 2.4 202312 27.0 32.1 32.3 22.3 -7.7 8.4 8.0 905.0 508.5
ICICI Bank [2] 1078.6 60.4 17.8 3.2 202312 29.2 25.7 35.6 33.0 -0.9 0.0 0.0 1113.4 810.5 SBI Life Insuran 1500.5 18.6 80.8 10.4 202312 16.4 5.8 17.5 15.1 -0.6 0.7 0.0 1571.6 1039.3
Canara Bank 548.8 80.8 6.8 1.2 202312 26.3 25.0 32.2 49.1 -8.2 0.0 0.0 606.0 272.3
ICICI Lombard 1651.2 37.3 44.3 7.0 202312 13.5 22.4 12.6 14.4 -0.9 20.9 0.0 1740.0 1049.1 Schaeffler India [2] 2899.6 58.4 49.7 9.4 202312 3.4 -4.4 5.2 5.1 1.5 29.3 0.0 3719.2 2616.1
Caplin Point Lab [2] 1283.3 57.6 22.3 4.7 202312 17.0 20.2 15.1 23.9 -6.1 26.6 0.0 1617.8 575.0
ICICI Pru Life 568.1 6.3 89.7 7.4 202312 4.9 2.4 6.2 19.2 -3.2 0.4 0.1 615.6 381.0 Sh.Renuka Sugar [1] 42.2 -2.2 -3.9 202312 18.1 -1304.9 14.8 -466.0 -7.0 0.0 0.0 57.3 39.3
Capri Global [1] 207.4 3.2 65.4 4.6 202312 57.9 81.7 63.3 44.2 -16.4 9.0 2.3 289.4 141.5
ICICI Securities [5] 727.0 44.0 16.5 7.2 202312 50.5 65.8 28.3 19.0 -8.3 18.1 3.3 865.1 417.0 Sheela Foam [5] 959.7 15.7 61.0 3.6 202312 15.5 -49.2 -1.9 -16.5 -5.6 14.2 0.4 1363.6 905.5
Carborundum Uni. [1] 1095.8 19.4 56.5 7.3 202312 -3.6 -68.3 8.2 10.4 2.5 20.7 0.1 1300.0 924.2
IDBI Bank 84.1 5.0 16.9 2.2 202312 25.2 59.7 29.3 65.6 -1.6 0.0 0.0 98.7 42.9 Shoppers Stop [5] 726.0 6.6 110.1 33.6 202312 8.8 -41.3 10.0 -17.0 -3.6 13.2 15.9 889.8 574.9
Castrol India [5] 197.3 8.7 22.6 9.2 202312 7.5 25.2 6.3 6.0 -5.8 56.9 0.0 219.6 107.7
CCL Products [2] 580.8 20.3 28.6 4.9 202312 24.1 -13.4 27.0 14.3 -5.5 15.7 0.6 750.0 542.6 IDFC First Bank 78.8 4.3 18.4 1.8 202312 33.3 18.7 36.8 49.7 -2.6 0.0 0.0 100.7 52.1 Shree Cement 25015.8 622.7 40.2 4.6 202312 21.5 148.8 17.9 60.2 1.3 8.5 0.1 30710.222601.3
CEAT 2503.3 166.6 15.0 2.7 202312 8.7 408.1 7.2 633.1 -9.8 9.3 0.7 2997.3 1357.6 IIFL Finance [2] 366.9 47.3 7.8 1.4 202312 24.8 29.6 20.8 28.0 -12.7 11.7 4.9 704.2 360.0 Shriram Finance 2266.0 176.8 12.8 1.8 202312 19.3 3.7 24.8 14.2 -7.4 12.1 4.0 2535.0 1202.8
Central Bank 59.5 2.8 21.1 1.9 202312 16.2 55.1 22.0 43.4 -7.6 0.0 0.0 76.9 22.3 India Cements 205.1 -10.0 1.2 202312 -10.7 -117.8 -3.8 -66.2 -9.0 -3.6 0.6 277.0 167.1 Shyam Metalics 563.1 38.6 14.6 1.7 202312 13.5 89.2 7.3 4.8 -12.1 15.0 0.1 772.3 253.1
Century Plyboard [1] 666.4 16.3 41.0 7.1 202312 6.1 -23.3 5.8 1.2 0.0 26.1 0.2 849.4 436.7 Indiabulls Hous. [2] 169.7 23.5 7.2 0.5 202312 -8.4 4.0 -5.5 -1.4 -7.0 9.8 3.3 209.6 81.9
Siemens [2] 4777.9 56.3 84.9 13.0 202312 20.6 9.2 22.1 35.7 2.3 20.4 0.0 4973.6 3203.4
Century Textiles 1418.0 13.5 104.8 4.2 202312 2.5 855.3 -3.4 -28.9 -7.3 5.8 0.3 1598.8 608.5 Indiamart Inter. 2627.5 48.6 54.1 10.2 202312 21.4 -27.4 25.4 2.2 0.7 15.6 0.0 3293.5 2335.5
SIS [5] 452.3 20.5 22.1 2.6 202312 5.8 -64.3 10.2 -15.8 -0.1 10.2 0.7 560.0 318.0
Cera Sanitary. [5] 6941.0 178.2 39.0 7.4 202312 -4.1 -9.8 8.9 13.8 -8.4 24.7 0.0 9782.3 5885.1 Indian Bank 510.4 56.7 9.0 1.3 202312 20.0 51.7 25.1 50.6 -6.5 0.0 0.0 573.5 256.5
SJVN 124.8 2.3 54.9 3.4 202312 -1.6 -47.7 -5.7 -34.4 2.1 8.7 0.8 170.5 30.4
CESC [1] 117.4 10.6 11.0 1.4 202312 3.7 -11.9 6.0 5.6 -6.4 9.9 1.4 149.9 62.3 Indian Energy Ex [1] 136.8 3.8 35.6 14.0 202312 15.0 18.9 7.1 13.6 -7.5 52.3 0.0 173.3 116.1
SKF India 4244.5 101.0 42.0 8.8 202312 1.4 13.3 5.0 -2.3 -2.2 34.0 0.0 5528.9 3961.0
CG Power & Indu. [2] 470.3 5.6 83.6 32.2 202312 12.9 -6.7 18.0 38.4 2.7 42.2 0.1 501.8 276.9 Indian Hotels Co [1] 562.6 8.2 68.5 9.5 202312 16.5 18.1 28.3 60.3 -4.3 13.6 0.5 602.8 302.3
Sobha 1244.2 9.6 130.2 4.7 202312 -21.1 -52.6 26.0 30.1 -18.2 8.3 0.9 1677.6 412.4
Chalet Hotels 734.2 11.8 62.4 8.9 202312 29.0 20.8 42.4 162.9 -2.5 9.1 1.6 890.7 354.3 Indigo Paints 1341.4 30.2 44.4 7.8 202312 21.3 43.6 17.2 22.0 -1.5 21.4 0.0 1700.0 981.1
Solar Industries [2] 8860.6 89.2 99.4 28.1 202312 -21.1 -0.6 1.2 12.2 17.7 36.1 0.5 8980.5 3457.0
Chambal Fert. 347.1 31.8 10.9 1.8 202312 -47.6 41.8 -31.1 7.6 -6.8 16.4 0.6 402.0 248.6 Indraprastha Gas [2] 412.6 27.8 14.8 3.2 202312 -4.2 42.7 9.7 16.5 -4.1 27.1 0.0 515.6 375.8
Sona BLW Precis. 640.8 8.5 75.5 15.4 202312 15.8 23.9 23.7 30.9 -6.3 22.1 0.1 718.6 401.1
Chemplast Sanmar [5] 433.0 -5.1 25.8 202312 -25.3 -429.3 -28.2 -120.3 -4.1 32.6 4.7 542.9 342.0 Indus Towers 249.5 20.7 12.0 2.8 202312 4.9 251.1 -2.4 103.8 -2.3 10.2 0.9 271.3 135.8
Sonata Software [1] 729.8 15.4 47.5 14.2 202312 10.3 -37.8 19.1 -1.8 -7.6 33.5 0.3 867.1 369.3
Chola Financial [1] 1037.7 88.8 11.7 2.3 202312 43.8 40.7 43.1 40.5 -4.3 10.6 11.8 1282.8 512.7 IndusInd Bank 1483.7 111.4 13.3 2.0 202312 22.4 17.2 27.4 27.5 -5.1 0.0 0.0 1694.4 990.3
SPARC [1] 344.7 -11.2 33.7 202312 -89.4 -1081.8 -50.7 -71.7 -11.2 0.0 0.2 423.6 160.5
Cholaman.Inv.&Fn [2] 1068.4 38.2 28.0 5.0 202312 49.2 27.3 48.6 28.6 -1.4 9.7 6.4 1309.8 709.9 Infibeam Avenues [1] 36.6 0.5 68.9 3.1 202312 119.9 15.7 84.4 14.4 -8.7 6.0 0.0 42.5 12.9
Info Edg.(India) 5241.7 22.3 235.6 3.4 202312 6.4 -37.4 12.2 -58.9 3.2 2.9 0.0 5536.8 3346.1 SRF 2427.9 49.8 48.8 6.6 202312 -11.1 -50.4 -8.7 -33.1 -0.8 22.0 0.4 2636.7 2050.0
CIE Automotive 434.5 21.0 20.7 2.8 202312 -0.3 21.0 6.0 20.3 -2.3 14.0 0.2 578.1 332.2 St Bk of India [1] 732.0 77.4 9.5 1.7 202312 23.3 5.4 28.2 46.6 -7.1 0.0 0.0 793.5 501.9
Cipla [2] 1487.9 49.0 30.4 4.8 202312 13.5 49.5 13.6 48.3 0.4 17.8 0.0 1519.0 852.0 Infosys [5] 1634.9 58.8 27.8 9.7 202312 1.3 -7.3 8.2 3.1 1.1 44.4 0.1 1731.0 1215.5
Ingersoll-Rand 3617.1 71.5 50.6 18.5 202312 3.1 14.8 13.7 55.9 -0.8 43.3 0.0 3862.3 2332.3 Star Cement [1] 203.1 7.5 27.0 3.2 202312 5.5 39.1 7.7 26.5 -2.0 15.6 0.0 219.5 104.2
City Union Bank [1] 128.5 13.2 9.7 1.2 202312 10.0 16.2 13.0 5.4 -6.1 0.0 0.0 167.7 119.5 Star Health Insu 556.6 13.7 40.5 4.9 202312 14.9 37.6 13.5 85.0 1.3 13.3 0.1 675.0 477.0
Clean Science [1] 1300.0 23.9 54.3 12.7 202312 -18.0 -25.3 -15.5 -8.2 -5.4 44.5 0.0 1622.4 1227.5 Intellect Design [5] 1118.3 24.8 45.1 6.8 202312 16.0 35.9 18.0 24.7 2.6 18.9 0.0 1198.8 388.0
Interglobe Aviat 3203.4 186.5 17.2 -42.2 202312 30.3 110.7 35.1 347.6 3.3 0.0 0.0 3318.4 1810.5 Sterling & Wils. [1] 488.5 -27.1 10.4 202312 43.2 -162.9 -35.1 28.2 -16.3 0.0 3.6 647.0 253.5
Coal India 415.0 47.7 8.7 3.7 202312 1.8 16.9 7.2 0.2 -9.5 29.5 0.1 487.8 207.7 Sterlite Tech. [2] 123.0 2.7 45.9 2.3 202312 -29.8 -163.6 -5.2 -37.1 -7.7 11.0 1.8 179.0 115.9
Cochin Shipyard [5] 890.6 19.8 44.9 5.0 202312 64.6 121.4 5.6 -3.9 2.8 8.0 0.1 944.7 205.5 Ipca Labs. [1] 1164.4 20.2 57.7 4.8 202312 32.8 18.3 19.3 -2.5 -1.9 11.6 0.2 1264.0 670.0
IRB Infra.Devl. [1] 57.3 0.9 63.3 2.6 202312 30.0 32.6 12.1 -28.4 -6.5 6.4 1.3 72.0 22.6 Sumitomo Chemi. 344.1 6.7 51.7 6.8 202312 -28.0 -39.5 -20.0 -34.2 -4.5 29.9 0.0 458.7 336.4
Coforge 6117.0 119.1 51.4 11.4 202312 13.0 4.3 18.5 -6.4 -2.2 27.5 0.2 6840.0 3565.2 Sun Pharma.Inds. [1] 1547.6 39.1 39.6 6.2 202312 9.5 19.3 11.3 17.3 -3.7 16.8 0.1 1627.0 922.6
Colgate-Palmoliv [1] 2726.8 46.9 58.1 42.1 202312 8.2 35.7 7.1 20.2 5.7 77.6 0.0 2747.9 1482.1 Ircon Intl. [2] 216.5 10.0 21.7 3.7 202312 22.9 28.8 29.7 25.1 -3.2 13.0 0.3 280.9 51.7
ITC [1] 419.6 16.4 25.6 7.6 202312 1.6 6.7 1.0 12.4 1.5 39.0 0.0 499.6 369.7 Sun TV Network [5] 590.6 48.0 12.3 2.3 202312 4.1 6.8 9.8 8.9 -5.1 26.0 0.0 734.9 394.0
Container Corpn. [5] 867.0 20.1 43.2 4.6 202312 10.3 12.4 5.8 6.0 -10.0 13.7 0.1 1035.5 555.0 Sundram Fasten. [1] 1025.2 24.5 41.9 6.7 202312 -2.6 9.9 1.7 8.3 -1.3 19.5 0.3 1334.2 953.6
Coromandel Inter [1] 1083.0 58.7 18.4 3.5 202312 -34.2 -56.2 -16.8 -15.9 -2.8 38.2 0.1 1288.0 842.0 ITI 259.7 -4.2 11.8 202312 1.0 -215.6 -18.4 -689.5 -7.4 0.0 0.7 384.4 86.5
Sunteck Realty [1] 396.3 -4.0 2.1 202312 -52.5 -570.0 -60.1 -333.1 -13.3 2.6 0.3 511.7 271.3
Craftsman Auto [5]
CreditAcc. Gram.
4032.6
1430.6
151.4 26.6
84.4 16.9
5.6
3.9
202312
202312
50.8
42.3
41.7
66.5
51.3
44.6
43.9
97.0
-2.4
2.5
20.8 0.8 5510.0 2699.4
12.1 3.2 1794.4 876.1 J ...................................................................................................................................................................................................... Supreme Inds. [2] 3885.6 84.6 45.9 10.7 202312 6.0 22.0 6.2 29.5 -0.3 26.7 0.0 4883.8 2430.5
J B Chem & Pharm [1] 1550.8 33.1 46.8 8.9 202312 6.5 25.9 12.4 26.3 -2.4 22.4 0.1 1935.0 914.7 Supreme Petroch. [2] 605.7 19.9 30.4 6.1 202312 0.5 -24.7 -6.0 -33.6 -10.2 39.3 0.0 782.8 352.1
CRISIL [1] 4963.7 90.1 55.1 16.6 202312 11.6 33.0 13.4 16.7 0.6 40.4 0.1 5250.0 2974.0 Suven Pharma [1] 617.5 14.6 42.4 8.1 202312 -37.9 -56.6 -12.5 -2.1 -7.0 33.2 0.1 767.0 375.0
Crompton Gr. Con [2] 275.2 6.7 40.9 6.5 202312 11.6 0.9 7.8 -17.4 -5.3 17.9 0.5 327.8 251.3 J K Cements 4071.3 90.0 45.2 6.5 202312 20.5 627.9 20.9 35.0 -4.4 9.7 1.0 4565.4 2755.6
Jamna Auto Inds. [1] 121.8 5.1 23.9 5.8 202312 2.2 33.6 4.5 17.6 -6.4 26.5 0.2 139.8 94.2 Suzlon Energy [2] 39.1 0.3 113.6 15.6 202312 7.2 159.1 -10.3 865.1 -3.4 4.7 0.0 50.7 7.0
CSB Bank 344.7 33.0 10.5 1.8 202312 28.7 -3.8 25.7 9.6 -6.6 0.0 0.0 422.0 218.6
JBM Auto [2] 1888.5 12.8 147.7 21.0 202312 41.2 41.7 15.7 -16.9 -0.6 11.7 1.6 2417.3 569.3 Swan Energy [1] 570.4 8.8 64.5 3.1 202312 1474.4 583.1 457.0 557.5 -16.9 0.0 2.6 782.6 193.0
Cummins India [2] 2709.1 55.3 49.0 12.4 202312 16.8 20.9 17.5 38.5 -2.7 26.9 0.1 2888.3 1481.1
Jindal Saw [2] 435.2 47.7 9.1 1.5 202312 9.7 147.9 24.4 268.3 -6.6 10.1 0.7 558.3 135.6 Symphony [2] 828.3 17.1 48.6 8.4 202312 -10.8 5.1 -10.4 -28.3 -6.2 14.7 0.3 1166.0 821.1
Cyient [5] 1988.4 64.8 30.7 5.5 202312 12.6 12.9 29.2 37.3 0.2 17.6 0.3 2457.0 920.9
Jindal Stain. [2] 665.6 35.2 18.9 4.1 202312 0.7 39.2 9.0 30.3 -3.7 20.2 0.4 707.7 255.0 Syngene Intl. 673.6 12.7 53.2 7.0 202312 8.6 4.4 20.6 17.4 -2.5 13.6 0.3 860.2 568.1
D ..................................................................................................................................................................................................... Jindal Steel [1] 768.1 54.4 14.1 1.9 202312 -6.0 174.2 -5.9 32.8 -8.5 14.2 0.4 851.0 503.0
T ......................................................................................................................................................................................................
Dabur India [1] 527.2 10.1 52.1 9.9 202312 7.0 8.0 7.9 1.7 -1.4 23.3 0.1 596.9 504.0 Jindal Worldwide [1] 329.9 3.7 89.4 9.8 202312 8.4 42.5 -20.4 -40.2 -14.6 15.7 1.2 439.8 268.0
JK Lakshmi Cem. [5] 825.5 35.6 23.2 3.3 202312 9.0 80.3 11.0 -7.2 -7.5 13.6 0.7 998.4 608.1 T N Merc. Bank 463.1 67.7 6.8 1.0 202312 21.4 1.6 16.7 6.9 -4.3 0.0 0.0 611.0 396.1
Dalmia BharatLtd [2] 1880.1 64.8 29.0 2.2 202312 7.3 31.5 9.8 70.6 -4.1 7.9 0.2 2428.9 1772.5
Data Pattern [2] 2363.2 29.6 79.7 11.0 202312 24.8 53.0 19.1 27.4 -12.4 18.0 0.0 3078.0 1280.1 JK Paper 341.4 66.5 5.1 1.3 202312 3.8 -28.6 10.0 1.5 -8.2 28.1 0.8 452.0 306.6 Tanla Platforms [1] 855.9 40.0 21.4 6.6 202312 15.3 20.3 11.3 15.0 -10.3 37.8 0.1 1317.7 506.1
DCM Shriram [2] 869.9 33.1 26.3 2.2 202312 -5.7 -29.7 -3.8 -54.2 -8.1 18.9 0.3 1175.0 730.1 JM Financial [1] 75.5 7.3 10.4 0.9 202312 39.4 46.0 29.7 -3.2 -14.1 9.4 1.9 115.0 57.4 Tata Chemicals 1128.1 68.2 16.5 1.3 202312 -10.1 -60.3 3.1 -16.7 -14.2 11.5 0.4 1349.7 922.2
Deepak Fertiliz. 490.7 38.2 12.8 1.2 202312 -32.7 -76.9 -10.8 -60.9 -4.3 25.9 0.7 715.0 453.2 JSW Energy 497.6 10.0 49.8 4.1 202312 13.1 28.8 12.8 -17.1 -3.4 7.2 0.9 537.9 220.7 Tata Comm 1934.7 32.2 60.0 37.9 202312 24.4 -102.2 13.2 -48.5 -3.8 15.6 7.2 2037.0 1157.1
Deepak Nitrite [2] 2099.8 58.0 36.2 6.6 202312 0.9 -3.3 -4.6 -10.7 -4.9 29.8 0.1 2520.0 1764.5 JSW Steel [1] 781.0 44.2 17.7 2.6 202312 6.9 392.9 6.1 196.1 -5.9 8.6 1.2 895.6 649.8 Tata Consumer [1] 1213.8 13.5 90.0 7.2 202312 9.5 17.6 11.7 23.4 -3.7 9.7 0.1 1269.6 685.0
Delhivery [1] 438.8 -4.6 3.6 202312 20.3 -92.0 6.6 65.4 -4.5 0.0 0.1 488.1 314.1 Jubilant Food. [2] 447.6 3.3 134.0 14.2 202312 3.5 -18.2 5.7 -47.7 -1.3 16.0 1.2 586.4 412.2 Tata Elxsi 7697.1 128.0 60.1 22.9 202312 11.8 6.0 16.6 11.7 0.1 46.6 0.1 9191.1 5883.1
Delta Corp [1] 124.5 8.3 14.9 1.4 202312 -15.2 -59.3 -1.0 -15.3 -8.8 16.2 0.0 260.0 117.1 Jubilant Ingrev. [1] 439.4 12.9 34.0 2.6 202312 -16.7 -57.9 -14.7 -36.4 -7.2 15.6 0.1 524.5 350.8 Tata Inv.Corpn. 7540.2 68.1 110.7 1.6 202312 34.2 54.2 19.5 37.0 -22.6 1.4 0.0 9744.4 1735.0
Devyani Intl. [1] 154.1 1.3 117.2 17.9 202312 6.6 -87.9 15.2 -47.2 -1.0 13.5 1.7 227.8 134.1 Jubilant Pharmo [1] 567.2 2.4 239.0 1.7 202312 8.6 328.2 8.0 -37.7 -3.9 3.1 0.6 627.0 268.8 Tata Motors [2] 946.2 60.7 15.6 5.9 202312 25.1 140.0 33.3 485.1 -9.0 5.3 3.1 1065.6 400.4
Divi's Lab. [2] 3485.8 52.1 66.9 7.3 202312 8.6 17.0 -10.1 -42.3 -3.2 19.3 0.0 4072.4 2760.1 Jupiter Wagons 341.0 6.4 52.9 9.7 202312 39.0 82.7 88.5 178.5 -7.8 23.9 0.3 434.0 85.4 Tata Power Co. [1] 380.7 10.6 35.8 4.0 202312 3.7 0.8 6.3 -7.5 -10.4 10.9 2.0 433.2 182.5
Dixon Technolog. [2] 6961.0 59.0 117.9 28.7 202312 100.4 85.8 33.3 48.5 -2.5 23.6 0.5 7235.7 2755.2 Just Dial 788.3 38.9 20.3 1.8 202312 19.7 22.2 29.0 227.0 -10.3 1.7 0.0 960.5 565.2 Tata Steel [1] 141.6 2.0 71.8 2.0 202312 -3.6 -56.5 -6.9 -86.4 -10.0 12.1 0.7 159.5 101.7
DLF [2] 824.6 9.6 85.9 5.4 202312 1.8 26.5 -0.7 27.0 -10.4 4.5 0.1 944.0 345.0 Jyothy Labs [1] 425.5 9.5 44.6 9.5 202312 10.6 34.9 12.3 64.7 -0.9 18.6 0.1 554.0 180.3 Tata Tele. Mah. 79.0 -6.1 -0.8 202312 5.0 -210.0 4.5 -4.8 -12.1 0.0 0.0 109.1 49.8
Dr Lal Pathlabs 2020.5 39.5 51.1 9.5 202312 10.1 54.0 8.0 35.5 -7.2 18.5 0.3 2766.9 1762.7 TCI Express [2] 1021.1 36.1 28.3 5.9 202312 -0.8 0.5 4.1 1.3 -3.6 32.7 0.0 1699.0 998.5
Dr Reddy's Labs [5] 6286.5 313.4 20.1 4.1 202312 6.6 11.0 14.3 43.5 -0.6 26.0 0.1 6505.5 4369.1 K ..................................................................................................................................................................................................... TCS [1] 4217.5 126.0 33.5 15.2 202312 4.0 8.6 10.1 12.0 2.6 58.0 0.1 4241.1 3070.3
K E C Intl. [2] 665.5 10.4 64.0 4.5 202312 14.4 450.4 20.2 23.8 -5.3 11.8 0.9 769.0 443.3 Tech Mahindra [5] 1281.9 28.8 44.5 4.7 202312 -4.6 -60.6 2.2 -46.1 -0.5 20.2 0.1 1416.0 983.0
E ...................................................................................................................................................................................................... K P R Mill Ltd [1] 765.7 23.4 32.7 6.5 202312 -13.1 7.2 11.1 -2.8 -3.7 24.5 0.4 927.4 536.0 Tejas Networks 713.6 -5.6 4.1 202312 104.0 -396.2 93.3 -27.8 -6.8 0.0 0.0 939.9 562.1
Easy Trip Plann. [1] 44.1 0.8 52.1 13.2 202312 18.1 9.5 38.2 18.7 -6.9 50.9 0.2 54.0 37.0 Kajaria Ceramics [1] 1176.1 27.1 43.5 7.5 202312 5.6 40.2 6.2 28.7 -4.5 19.8 0.1 1522.0 1006.4 The Ramco Cement [1] 806.4 16.2 49.9 2.7 202312 6.0 63.8 28.4 35.3 -0.5 6.5 0.6 1057.9 701.5
eClerx Services 2441.7 105.0 23.3 6.1 202312 9.6 6.7 12.0 8.4 0.3 36.0 0.1 2825.0 1272.0 Kalpataru Proj. [2] 1030.6 27.9 36.9 3.5 202312 22.3 19.5 18.7 12.7 -2.3 12.3 0.9 1161.6 485.0 Thermax [2] 3482.4 45.9 75.8 10.4 202312 13.4 12.2 14.2 37.9 -4.5 14.5 0.2 3890.0 2150.3
Eicher Motors [1] 3745.0 140.1 26.7 6.4 202312 12.3 34.4 16.2 46.5 -1.0 26.5 0.0 4201.7 2836.0 Kalyan Jewellers 370.8 5.4 69.2 9.9 202312 34.5 21.5 28.4 26.7 -9.5 12.2 1.2 419.0 101.0 Timken India 2679.6 47.2 56.7 9.1 202312 0.5 -4.3 5.3 -12.8 3.2 27.0 0.0 3576.0 2490.1
EID Parry [1] 565.9 48.4 11.7 1.5 202312 -21.6 -52.9 -9.8 -17.4 -7.1 39.9 0.3 663.8 433.3 Kama Holdings 2499.1 234.0 10.7 1.3 202312 -12.2 -52.4 -9.8 -40.9 -6.7 34.3 0.8 3500.0 2350.0 Titan Company [1] 3633.0 38.9 93.5 26.0 202312 25.0 16.5 24.4 12.5 -4.1 24.8 0.8 3885.0 2412.9
EIH [2] 416.3 8.8 47.2 7.4 202312 26.4 62.0 43.0 139.0 -1.9 15.8 0.1 485.5 150.5 Kansai Nerolac [1] 270.9 8.1 33.4 4.1 202312 5.0 40.3 5.7 62.1 -4.6 14.3 0.0 355.0 247.5 Torrent Pharma. [5] 2588.2 42.3 61.2 13.1 202312 9.4 30.6 13.2 15.2 -2.8 19.5 0.8 2745.6 1501.3
Elgi Equipments [1] 632.6 12.8 49.4 13.7 202312 6.4 4.8 8.7 48.2 -9.4 24.2 0.4 714.5 416.5 Kaynes Tech 2660.7 22.4 118.6 7.0 202312 76.2 97.6 53.2 94.4 -14.5 21.5 0.3 3248.0 923.3 Torrent Power 1160.8 38.5 30.1 4.7 202312 -1.2 -47.4 14.1 -20.9 1.5 17.7 0.9 1288.5 485.0
Emami [1] 422.9 16.5 25.7 7.7 202312 1.4 11.3 5.5 -15.3 -6.1 27.9 0.1 588.7 341.0 KEI Industries [2] 3216.4 61.0 52.7 10.2 202312 15.5 17.2 14.7 20.9 -5.2 25.7 0.1 3472.3 1571.8 Trent [1] 4060.3 23.4 173.4 49.5 202312 77.5 302.5 66.1 122.6 2.8 11.4 1.9 4243.7 1287.4
Endurance Tech. 1802.7 43.1 41.8 5.5 202312 22.2 40.7 13.2 24.6 -1.0 13.7 0.1 2308.0 1171.6 KIOCL 387.5 0.7 563.2 12.3 202312 90.9 15.2 13.8 197.4 -13.6 -4.4 0.2 576.6 165.2 Trident [1] 37.7 0.8 45.4 4.6 202312 11.8 -24.6 1.1 -14.0 -7.1 11.9 0.4 52.9 25.1
Engineers India [5] 189.1 9.3 20.4 4.9 202312 3.0 293.0 2.7 121.0 -16.2 23.7 0.0 273.8 70.4 KNR Construct. [2] 240.5 20.3 11.8 2.2 202312 13.8 90.9 8.7 36.9 -13.2 22.8 0.4 305.3 226.2 Triveni Turbine [1] 471.3 7.8 60.2 16.9 202312 32.5 29.7 40.5 46.2 -2.8 31.5 0.0 519.9 292.3
EPL Ltd [2] 187.6 8.6 21.7 3.0 202312 3.2 37.1 7.0 43.4 1.5 12.1 0.4 236.0 152.2 Kotak Mah. Bank [5] 1739.0 87.7 19.8 2.9 202312 31.6 6.8 36.0 22.4 -0.5 0.0 0.0 2063.0 1648.0 TTK Prestige [1] 696.8 16.5 42.1 4.9 202312 6.3 8.5 -6.9 -16.6 -3.4 18.2 0.1 832.0 652.1
Equitas Sma. Fin 94.1 6.9 13.7 1.9 202312 34.4 18.7 33.2 55.3 -2.9 0.0 0.0 116.5 61.7 KPIT Technologi. 1429.0 19.7 72.5 21.1 202312 37.1 50.3 52.4 54.2 -4.4 27.0 0.2 1764.0 740.8 Tube Investments [1] 3559.9 32.8 108.7 15.6 202312 15.3 -109.8 11.5 -20.2 1.7 33.1 0.2 4120.8 2432.0
ERIS Lifescience [1] 842.9 28.4 29.7 4.8 202312 15.7 0.9 17.5 -2.7 -6.9 16.7 0.2 971.0 550.9 KRBL [1] 287.6 26.2 11.0 1.4 202312 -6.4 -34.9 5.4 -13.3 -3.7 20.8 0.1 471.0 275.8 TV18 Broadcast [2] 48.6 0.2 217.5 0.5 202312 -5.2 -129.5 34.2 -82.9 -8.0 3.3 0.6 68.6 27.4
Esab India 4798.5 104.3 46.0 23.8 202312 12.7 4.5 14.4 39.5 -4.4 69.8 0.0 6542.7 3221.4 Krishna Institu. 2005.3 42.2 47.5 8.9 202312 7.8 -5.4 22.4 8.2 -4.4 25.9 0.3 2357.0 1284.0 TVS Motor Co. [1] 2067.1 34.4 60.0 15.5 202312 25.4 58.9 21.6 28.5 -8.5 13.6 3.9 2313.9 1019.9
Escorts Kubota 2701.6 91.7 29.4 3.5 202312 2.2 57.1 10.7 56.8 -5.1 10.6 0.0 3435.2 1810.0 KSB 3619.2 60.0 60.4 9.7 202312 14.9 -1.8 23.3 14.2 -5.0 22.3 0.0 4211.2 1960.0
Eureka Forbes 444.1 5.2 85.1 2.1 202312 13.9 55.1 10.0 193.3 1.0 2.1 0.1 598.8 355.0
L U .....................................................................................................................................................................................................

Exide Inds. [1] 305.2 10.3 29.7 2.1 202312 12.5 0.8 9.0 10.5 -7.0 10.6 0.1 354.0 170.5 ......................................................................................................................................................................................................
UCO Bank 52.3 1.4 37.0 2.6 202312 20.0 -22.8 27.7 6.8 -9.1 0.0 0.0 70.7 22.3
L&T Fin.Holdings 151.0 9.1 16.6 1.7 202312 3.0 130.8 5.4 96.8 -6.7 7.6 4.1 179.0 79.0 Ujjivan Small 46.8 6.4 7.3 2.0 202312 36.0 2.3 40.4 37.6 -9.7 0.0 0.0 63.0 22.8
F ...................................................................................................................................................................................................... L&T Technology [2] 5417.9 123.2 44.0 12.0 202312 12.3 13.3 15.6 14.9 2.2 33.4 0.1 5675.0 3281.1 UltraTech Cem. 9644.0 222.1 43.4 5.0 202312 7.9 67.9 14.6 9.5 -0.3 12.8 0.2 10522.7 7078.2
FDC [1] 427.5 17.8 24.0 3.5 202312 11.9 94.4 13.4 66.7 -4.7 13.0 0.0 487.5 245.0 La Opala RG [2] 311.2 12.0 25.9 4.2 202312 -15.2 27.5 -9.6 13.3 -7.5 22.3 0.0 479.7 300.2 Union Bank (I) 148.1 17.4 8.5 1.2 202312 21.7 60.2 26.3 83.0 -5.9 0.0 0.0 161.9 60.3
Federal Bank [2] 150.5 15.9 9.5 1.3 202312 29.5 22.8 34.9 38.1 -3.7 0.0 0.0 166.7 120.9 Lak. Mach. Works 13820.8 376.1 36.7 5.8 202312 -0.6 -12.6 13.9 7.8 -5.9 20.4 0.0 15501.0 9031.0 United Breweries [1] 1738.9 12.8 135.8 11.5 202312 13.1 174.0 4.2 -31.0 2.4 10.6 0.0 1913.5 1342.3
Fine Organic [5] 4062.3 145.7 27.9 7.3 202312 -35.7 -11.3 -28.6 -24.3 -4.1 65.3 0.0 5160.0 4030.7 Larsen & Toubro [2] 3535.4 92.0 38.4 6.2 202312 18.8 19.3 19.4 26.2 -3.8 12.6 1.4 3738.9 2122.2 United Spirits [2] 1117.2 17.5 63.9 11.9 202312 8.0 -3.5 3.7 5.9 -2.7 17.4 0.1 1182.9 735.1
Finolex Cables [2] 879.4 41.9 21.0 2.9 202312 6.2 -2.2 8.9 15.7 -3.0 15.6 0.0 1219.1 760.6 Latent View [1] 449.5 7.2 62.7 7.2 202312 14.0 -11.3 18.4 -5.8 -9.1 16.8 0.0 544.5 311.1 Uno Minda [2] 611.4 13.5 45.3 7.9 202312 20.8 19.4 22.0 25.8 -6.0 18.7 0.3 726.9 433.0
Finolex Inds. [2] 214.0 7.7 27.9 2.4 202312 -9.3 19.9 -12.9 65.8 -7.4 6.4 0.1 259.9 158.0 Laurus Labs [2] 399.9 3.5 114.7 5.4 202312 -22.6 -88.6 -18.1 -79.5 -5.3 21.8 0.5 444.5 279.7 UPL [2] 476.0 -6.9 1.2 202312 -27.7 -208.9 -13.8 -111.8 -1.3 15.2 0.9 760.5 448.0
Firstsour.Solu. 194.4 7.4 26.2 3.7 202312 6.1 -18.5 4.5 3.5 -1.6 14.9 0.5 221.4 103.6 Laxmi Organic [2] 231.8 3.6 63.6 3.7 202312 6.1 -0.1 -4.6 -40.9 -7.4 11.5 0.2 320.7 220.7 Usha Martin [1] 283.3 13.9 20.4 4.0 202312 -4.4 28.1 2.3 29.8 -8.0 20.7 0.2 379.7 201.7
Five-Star Bus.Fi [1] 618.2 26.3 23.5 3.8 202312 46.8 43.5 41.9 39.1 -7.1 14.4 0.9 875.4 494.0 Lemon Tree Hotel 129.2 1.6 81.6 11.8 202312 23.6 -11.4 33.6 173.0 -7.3 11.5 2.6 147.2 72.9 UTI AMC 837.3 54.1 15.5 2.7 202312 52.1 207.2 22.4 69.8 -5.9 15.9 0.0 965.0 609.5
Fortis Health. 389.3 7.1 54.9 3.9 202312 7.7 6.8 11.9 13.1 -2.0 7.5 0.2 469.5 245.4 LIC Housing Fin. [2] 584.8 88.5 6.6 1.1 202312 15.5 152.6 23.8 73.0 -8.3 7.6 9.0 671.8 315.5
FSN E-Commerce [1] 149.9 0.1 1542.4 30.8 202312 22.3 97.7 25.0 9.2 -4.2 5.1 0.5 195.4 114.3 Life Insurance
Linde India
924.9 62.6 14.8
6437.1 50.2 128.3
9.4
16.9
202312 -11.5
202312 1.3
-40.3
9.1
-2.7
10.5
107.6
-2.5
-9.8
15.4
1.0
16.3
0.0 1175.0
0.0 6886.0
530.2
3663.6
V ......................................................................................................................................................................................................

V I P Inds. [2] 465.5 6.9 67.0 9.2 202312 3.8 -83.8 9.6 -37.9 -12.1 27.4 0.5 722.7 450.4
G ..................................................................................................................................................................................................... Lloyds Metals [1] 563.8 24.4 23.1 13.1 202312 91.1 44.1 105.1 62.5 -4.8 0.0 0.1 687.9 275.0
Vaibhav Global [2] 374.1 8.0 46.7 5.1 202312 22.8 28.8 9.7 18.9 -11.5 11.1 0.2 543.1 268.6
GNFC 626.2 47.8 13.1 1.0 202312 -21.9 -70.2 -24.6 -60.5 -0.7 20.4 0.0 814.9 484.5 LTIMindtree [1] 5191.8 155.2 33.5 8.5 202312 4.6 16.8 22.6 16.9 1.4 34.9 0.0 6442.7 4130.3
Vardhman Textile [2] 420.1 20.4 20.6 1.4 202312 -1.7 56.5 -8.0 -38.5 -4.9 11.6 0.2 456.0 270.0
G R Infraproject [5] 1229.8 119.9 10.3 1.8 202312 -2.6 -25.0 -4.9 -13.6 -2.0 21.7 1.0 1381.6 930.0 Lupin [2] 1639.7 39.3 41.7 5.6 202312 19.7 299.5 20.8 653.0 -1.8 5.7 0.4 1703.8 628.1
Varroc Engineer [1] 470.1 34.7 13.6 6.9 202312 9.4 1775.9 6.3 1552.5 -4.3 0.0 1.2 631.0 239.8
G S F C [2] 208.7 19.2 10.9 0.7 202312 -42.3 -71.2 -13.1 -42.4 -3.7 12.7 0.0 322.5 116.1
GAIL (India) 173.9 12.3 14.2 1.6 202312 -3.3 672.1 -4.4 -4.4 -7.8 9.0 0.2 196.4 102.1 M ....................................................................................................................................................................................................
Varun Beverages [5]
Vedant Fashions [1]
1432.9 15.8 90.6
927.4 16.8 55.3
26.8
17.0
202312 20.5
202312 7.5
76.5
4.9
21.8
2.8
37.3
-0.4
0.7
-4.0
27.8
36.3
0.8
0.2
1560.3 633.3
1481.4 895.5
Galaxy Surfact. 2287.4 88.7 25.8 4.0 202312 -13.3 -32.8 -15.2 -19.1 -7.9 23.4 0.2 2989.4 2217.5 M & M [5] 1801.9 89.5 20.1 3.7 202312 15.0 16.1 17.8 27.8 -5.0 13.7 1.6 1982.0 1124.0
Vedanta [1] 265.1 10.9 24.2 3.1 202312 3.8 7.4 -2.3 -71.0 -6.3 19.9 1.2 301.0 207.9
Garware Tech. 3239.2 97.3 33.3 5.9 202312 5.4 18.3 1.7 19.2 -1.9 21.1 0.1 3830.1 2587.0 M & M Fin. Serv. [2] 261.6 15.7 16.6 1.7 202312 23.4 -5.9 23.8 -5.5 -8.8 8.8 4.1 346.4 215.7
V-Guard Industri [1] 318.8 5.4 59.1 8.2 202312 18.6 48.3 15.0 3.6 -7.5 14.9 0.2 352.0 238.2
GE Shipping Co 995.7 170.2 5.8 1.3 202312 -12.4 -14.2 1.2 23.6 -1.2 21.3 0.5 1051.5 569.6 MRPL 215.3 24.9 8.6 3.2 202312 -7.1 98.6 -16.4 15.8 -7.8 19.7 2.2 289.3 49.8
Vinati Organics [1] 1583.1 33.9 46.8 7.0 202312 -13.3 -28.1 -11.1 -18.2 -2.7 30.3 0.0 2029.5 1565.0
General Insuranc [5] 332.8 39.0 8.5 1.2 202312 -10.1 16.8 -7.6 11.8 -9.4 14.5 0.0 467.0 127.8 Macrotech Devel. 1002.0 17.2 58.3 6.3 202312 65.2 44.6 -1.1 21.8 -14.5 8.8 0.9 1277.5 390.3
V-Mart Retail 1870.8 -47.9 4.9 202312 14.4 41.4 16.4 -457.7 -2.2 5.1 1.3 2441.9 1591.0
Gillette India 6515.0 120.0 54.3 20.6 202312 3.4 39.6 8.0 31.2 0.0 47.0 0.0 7318.1 4140.0 Mah. Scooters 6924.0 175.0 39.6 0.3 202312 -14.7 -66.8 4.3 2.0 -6.5 0.9 0.0 8600.0 4051.1
Vodafone Idea 13.2 -6.3 -0.7 202312 0.6 -196.9 1.5 -4.4 -7.8 0.0 0.0 18.4 5.7
Gland Pharma [1] 1781.1 42.1 42.3 3.5 202312 64.7 -17.3 24.6 -29.8 0.9 14.0 0.0 2195.8 861.5 Mahanagar Gas 1264.6 130.9 9.7 2.7 202312 -6.1 84.3 8.9 98.0 -3.9 26.6 0.0 1579.0 909.1
Voltas [1] 1065.4 8.4 126.1 6.2 202312 31.8 -1107.0 22.6 -19.7 -1.6 9.5 0.1 1139.0 745.0
Glaxosmi. Pharma 1924.3 37.9 50.8 21.2 202312 0.4 3.0 1.1 47.4 -6.2 33.9 0.0 2650.0 1228.0 Mahindra Holiday 382.5 4.4 86.2 -15.6 202312 5.4 -2.1 11.4 19.5 -5.4 4.5 0.0 469.8 256.4
VST Industries 3615.0 182.7 19.8 5.0 202312 4.8 -32.0 4.1 -18.4 -1.7 37.3 0.0 4328.5 3068.6
Glenmark Pharma [1] 926.5 2.2 421.3 2.8 202312 -19.7 -364.9 1.6 -92.3 -2.9 14.3 0.5 974.1 422.6 Mahindra Life. 538.3 1.8 305.9 4.8 202312 -56.1 12395.0 -11.7 -67.1 -7.1 2.1 0.2 632.8 316.1
Global Health [2]
GMM Pfaudler [2]
1123.0
1248.7
16.8 66.7 11.4
43.7 28.6 6.0
202312
202312
19.9
8.0
53.4
4.9
25.5
18.6
86.3
26.0
-10.4
-4.8
16.5
18.9
0.6
1.2
1513.8
1896.8
465.7
1228.0
Manappuram Fin. [2]
Mankind Pharma [1]
165.9
2184.2
24.1 6.9 1.3
43.1 50.7 10.4
202312 34.4
202312 24.7
46.1
59.7
29.2
18.1
51.9
45.6
-3.8
1.4
11.8
23.1
3.0 199.0
0.1 2297.0
102.0
1240.8
W ....................................................................................................................................................................................................

GMR Airports Inf [1] 77.3 -1.3 -46.6 202312 26.4 -455.8 35.1 -54.0 -8.5 0.0 0.0 94.3 37.3 Marico [1] 500.1 11.3 44.2 15.4 202312 -1.9 16.8 -0.7 17.1 -2.8 42.1 0.2 595.0 463.0 Welspun Corp [5] 511.3 41.2 12.4 2.7 202312 97.7 1155.9 120.8 421.0 -6.6 6.4 0.5 625.0 186.0
Godfrey Phillips [2] 2945.7 156.9 18.8 4.0 202312 36.0 6.6 21.7 26.1 -10.9 21.4 0.1 3687.7 1605.1 Maruti Suzuki [5] 11477.8 387.7 29.6 4.6 202312 14.3 33.3 20.4 64.0 -0.2 13.9 0.0 11725.0 8127.1 Welspun Living [1] 149.0 6.8 21.9 3.5 202312 29.0 317.1 13.4 425.7 1.2 5.9 0.7 171.7 62.2
Godrej Agrovet 510.9 17.4 29.4 4.2 202312 0.8 -21.1 1.7 -15.2 -0.9 10.6 0.7 581.6 391.2 MAS FINANC SER 284.5 14.5 19.6 2.8 202312 30.1 24.0 36.1 23.6 -3.0 11.5 3.7 387.7 226.7 Westlife Food [2] 740.2 5.7 130.4 20.5 202312 -2.7 -52.6 9.3 -17.1 -2.9 14.7 2.2 1024.6 661.1
Godrej Consumer [1] 1211.7 18.3 66.2 8.6 202312 1.5 6.1 6.7 13.1 -1.8 16.4 0.1 1299.9 896.9 Mastek [5] 2628.3 92.3 28.5 4.5 202312 19.1 17.4 22.5 -0.6 -7.4 23.0 0.2 3147.0 1475.5 Whirlpool India 1228.2 15.9 77.1 4.4 202312 17.9 13.4 1.0 -15.8 -2.7 8.2 0.0 1733.0 1186.9
Godrej Industrie [1] 759.2 20.0 38.0 3.1 202312 -6.6 -66.2 3.4 -26.6 -7.0 9.7 2.3 911.2 395.2 Max Financial [2] 961.8 12.5 77.2 8.9 202312 38.9 -34.0 36.7 -4.5 -1.6 10.4 0.1 1069.2 599.3 Wipro [2] 516.8 21.6 23.9 3.9 202312 -4.4 -11.7 2.9 -0.7 0.2 17.1 0.3 546.1 351.9
Godrej Propert. [5] 2220.5 24.0 92.7 6.5 202312 68.4 6.0 68.1 58.7 -9.9 5.6 0.7 2541.0 1005.7 Max Healthcare 726.4 10.9 66.8 9.0 202312 16.9 30.1 21.4 8.3 -3.1 13.9 0.1 909.0 412.0
Granules India [1] 418.7 16.3 25.7 3.4 202312 0.8 1.1 4.1 -22.2 -8.6 19.3 0.4 480.5 267.9 Mazagon Dock 1913.5 79.3 24.1 7.1 202312 30.1 77.0 18.1 68.1 -8.2 28.5 0.0 2490.0 612.8 Y ......................................................................................................................................................................................................

Graphite India [2] 615.4 2.5 241.8 2.2 202312 -1.6 -69.0 -5.9 -83.3 -3.6 7.2 0.1 652.3 251.8 Medplus Health [2] 668.5 4.9 136.2 5.3 202312 21.1 2.4 26.2 68.0 -4.0 5.6 0.6 977.5 598.0 Yes Bank [2] 23.8 0.4 66.9 1.7 202312 19.0 340.5 23.0 13.6 -0.3 0.0 0.0 32.8 14.1
Grasim Inds [2] 2198.3 99.7 22.1 1.7 202312 16.3 42.1 14.3 -8.1 -1.3 9.0 1.2 2269.9 1521.9 Metro Brands [5] 1079.7 12.0 90.1 17.5 202312 6.1 -12.6 16.7 -9.9 -4.7 24.8 0.6 1440.5 764.4
Grindwell Norton [5] 1894.4 35.3 53.7 11.4 202312 9.3 15.3 9.0 10.8 -6.9 28.3 0.0 2494.6 1734.0 Metropolis Healt [2] 1591.1 24.4 65.3 7.8 202312 2.0 -24.1 -1.1 -16.6 -2.5 17.2 0.3 1828.7 1176.1 Z ......................................................................................................................................................................................................

Guj Pipavav Port 205.9 7.8 26.3 4.3 202312 8.2 22.1 7.7 21.8 -0.5 17.5 0.0 218.7 105.2 Minda Corp [2] 378.6 11.6 32.5 4.8 202312 9.1 0.4 8.1 16.8 -9.0 16.2 0.4 449.0 187.0 Zee Entertainment [1] 142.3 2.3 62.8 1.3 202312 -3.0 -58.9 3.4 -71.2 -11.4 7.8 0.0 299.5 141.0
Guj. Ambuja Exp [1] 180.0 7.1 25.5 3.2 202312 15.2 22.9 5.8 -21.8 -7.7 17.8 0.1 210.4 114.0 Mishra Dhatu Nig 373.1 6.0 62.6 5.3 202312 2.8 -66.9 16.7 -34.7 -11.2 10.7 0.3 547.5 172.8 Zensar Tech. [2] 554.2 27.0 20.6 3.9 202312 0.5 111.4 2.0 80.6 -6.4 14.6 0.1 644.0 258.9
Guj.St.Petronet 339.6 27.6 12.3 1.9 202312 9.8 9.9 -9.6 -9.1 -6.8 34.2 0.1 407.3 254.8 MMTC [1] 67.1 0.6 106.0 7.0 202312 -99.9 -41.8 -86.0 -79.3 -11.3 22.6 2.2 102.0 26.4 ZF Commercial [5] 15449.0 214.8 71.9 11.3 202312 2.6 18.1 18.0 49.2 7.9 18.7 0.0 17661.0 9890.2
Gujarat Alkalies 700.1 3.4 208.0 0.9 202312 -18.3 -290.2 -7.1 -96.3 -10.7 10.6 0.1 869.6 556.1 Motherson Wiring [1] 62.4 1.3 47.1 21.0 202312 25.9 58.1 16.1 37.9 -7.9 42.7 0.3 74.8 45.2 Zomato Ltd [1] 159.9 0.0 7.1 202312 68.8 -60.2 70.1 98.9 0.0 0.0 0.0 175.5 49.0
Gujarat Fluoroch [1] 3204.6 60.6 52.9 6.1 202312 -30.1 -75.7 -12.6 -45.4 -9.4 29.4 0.3 3920.0 2550.0 Motil.Oswal.Fin. [1] 1479.9 126.4 11.7 3.0 202312 67.3 191.4 42.3 76.5 -6.2 13.0 1.4 1937.1 550.8 Zydus Lifesci. [1] 983.9 33.0 29.9 5.3 202312 4.4 23.3 17.4 60.3 0.7 16.3 0.2 1015.7 469.0
Gujarat Gas [2] 543.5 16.0 33.9 5.3 202312 6.6 -40.5 -11.5 -31.5 -4.7 30.6 0.1 620.6 397.2 Mphasis 2488.7 82.9 30.0 5.9 202312 -4.8 -9.4 -3.6 -3.6 -0.1 26.4 0.1 2835.0 1660.7 Zydus Wellness 1478.6 44.5 33.2 1.8 202312 -3.1 -98.5 3.7 -6.0 -6.7 5.8 0.1 1720.7 1425.0

CM
YK ... . . . . .. .ND-NDE
 Safe Investing . bl . 9
DELHI

businessline.portfolio
SUNDAY - MARCH 17 - 2024

Bank FD interest rates (%)

Why ‘similar’ products FOREIGN BANKS

Bank <1 year
1 to 2 2 to 3 3 to 5
years years years
w.e.f

aren’t really so
DBS Bank 6 7.5 7 6.5 Dec 11
Deutsche Bank 7 8 8 7.5 Jan 03
HSBC 4.5 6.25 7.25 7 Sep 07
Scotia Bank 3.7 3.9 4 4 Feb 01

INVEST SMART. New index and active funds Standard Chartered 6.5 7.5 7.5 7.1 Feb 01

are being launched in ULIPs. Keep in mind that INDIAN: PUBLIC SECTOR BANKS
Bank of Maharashtra 7 6.75 6.25 6 Feb 28
insurance NFOs are different from MFs
Bank of Baroda 7.1 7.15 7.25 6.5 Jan 15
Bank of India 5.75 7.25 6.75 6.5 Nov 01
Venkatasubramanian K Canara Bank 6.25 7.25 6.85 6.8 Nov 16
bl. research bureau
Central Bank of India 6.25 7.1 7 6.5 Jan 10
The huge interest in mutual Indian Bank 7.05 7.25 6.7 6.25 Mar 04
funds among retail investors
Indian Overseas Bank 5.75 7.3 6.8 6.5 Feb 10
over the past several years, spe-
cifically the SIP (systematic in- Punjab National Bank 7.05 7.25 7 6.5 Feb 01
vestment plan) mode, which al- Punjab & Sind Bank 7.15 7.4 6.3 6 Feb 01
GETTY IMAGES
lows small sums to be parked
periodically in schemes, has State Bank of India 6 7.1 7 6.75 Dec 27
spawned a new rival. As asset than ₹2.5 lakh, gains are taxed at UCO Bank 5.5 6.5 6.3 6.2 Oct 01
management companies roll out mentum indices, insurers are of- A ULIP has multiple charges 10 per cent beyond ₹1 lakh if the
new fund offers (NFOs) period- fering small-caps, multi-caps, associated with it — apart from underlying investment is an Union Bank 5.75 7.25 6.5 6.5 Jan 19
TAKE NOTE
ically, life insurance companies, and even balanced advantage the fund management charges equity instrument. INDIAN: PRIVATE SECTOR BANKS
 The same fund can be
too, have been on a launching funds. These companies offer (maximum limit of 1.35 per Axis Bank 6 7.2 7.1 7.1 Mar 06
part of many ULIPs of
spree. These insurers have been active and passive investments. cent) for the underlying scheme WHAT SHOULD YOU DO?
coming out with their own The foremost point for in- an insurer chosen, from the options such For new and uninformed in- Bandhan Bank 4.5 7.85 7.25 7.25 NA
‘NFOs’ in recent months, per- vestors to note here is that in-  Multiple charges as those mentioned earlier. vestors, it is important to under- Catholic Syrian 7.25 7.75 7.1 5.75 Dec 01
haps hoping to gain from the surance companies offer these associated with unit So, there would be charges re- stand the fundamental differ-
City Union Bank 6.5 7 6.5 6.25 Apr 05
positivity around mutual funds. ‘fund’ options as part of their linked plans lated to policy administration, ence between the two products
Insurance companies are of- ULIP product line. Therefore,  Gauging final returns mortality, premium allocation, and their purpose. DCB Bank 7.25 7.85 8 7.9 Dec 13
e2213679

fering active and passive
products to investors via factor-
driven or index-based offerings.
Unit-linked insurance plans
(ULIPs) are now packaged in
NFO avatars.
While insurers cannot offer
mutual funds, they can release
products with an underlying
equity index or factor strategy.
While there is no regulatory is-
sue here, investors must under-
stand insurers’ offerings that
sound deceptively similar to
mutual fund products.
Specifically, ULIPs vary
greatly from mutual funds in
terms of charges, lock-in peri-
ods, and disclosures.
Read on for what you must
understand before getting into
funds offered by insurers.
ULIPS’ EQUITY STRATEGIES
Over the past several months,
many insurers have rolled out
products that sound like mutual
funds. PNB MetLife, Max Life,
Bajaj Allianz Life, and Ageas
Federal Life, among others, have
launched NFOs. From mo-
the ULIP product itself would
be different, and the funds
(NFOs and existing funds)
would be offered as options for
policy buyers. Thus, multiple
ULIPs with different names can
offer the same fund.
For example, when it was
rolled out in January 2024, Max
Life offered Nifty Midcap 150
Momentum 50 index investing
option with Max Life Online
Savings Plan, Max Life Fast
Track Super, and Max Life Plat-
inum Wealth Plan, among a few
others. Met Life offered a small-
cap fund (NFO) with PNB Met-
Life Smart Platinum Plan, PNB
MetLife Goal Ensuring Multi-
plier plan and PNB MetLife
Mera Wealth Plan. And these
ULIPs themselves, we know,
have an insurance component
and an investment portion.
In a mutual fund, on the other
hand, the underlying invest-
ment is true-to-label. So, a Nifty
fund will have the Nifty as the
underlying index, while a small-
cap active fund will have small-
cap stocks. You invest directly in
https://play.google.com/store/apps/details?id=com.sdnews.epapers
e2213679
not as easy as mutual riders, premium redirection, For all practical purposes, Dhanlaxmi Bank 6.5 7.25 6.5 6.6 Feb 01
funds switching, and a few other most people need only two in-
heads. There would also be GST surance policies: term and Federal Bank 6 7.5 7.05 7 Feb 06
levied. Mortality charges vary health. It is best not to combine HDFC Bank 6 7.25 7.15 7.2 Feb 09
with age, sum assured and so on. insurance with investments and
mutual funds and not indirectly Therefore, gauging the final re- complicate things ICICI Bank 6 7.2 7 7 Feb 17
as with ULIPs, where there is a turns post these charges is unnecessarily. IDBI Bank 7.05 7.25 7 6.5 Feb 15
policy name which, in turn, al- challenging. Mutual funds chosen with
IDFC First Bank 5.75 7.75 7.25 7 Nov 02
lows you to invest in an underly- With these charges, if index care after taking proper advice
ing equity strategy — index, funds are taken as underlying, based on your risk appetite, IndusInd Bank 6.5 7.75 7.25 7.25 Feb 06
factor-based, active market-cap- there is likely to be significant goals, time horizon, and surplus J & K Bank 6 7.1 7 6.5 Jan 11
based, etc. A mutual fund NFO underperformance vis-à-vis the can vastly improve your finan-
is offered at ₹10 per unit, and in- benchmark. In the case of active cial health, provided you stay Karnataka Bank 7.1 7.4 6.5 6.5 Feb 01
vestments after the initial offer funds, the outperformance has put for the long term. Kotak Bank 7 7.4 7.15 7 Feb 27
period can be made via lump to be that much stronger to gen- Though some ULIPs have
Karur Vysya Bank 7.4 7.5 7 7 Feb 01
sums and SIPs. erate significant alpha over a done well over the years, your
benchmark. primary focus in terms of finan- RBL Bank 6.05 8.1 7.5 7.1 Feb 14
CHARGES, LOCK-IN Unit-linked plans have a min- cial planning must be to take South Indian Bank 6 7.4 7 6.7 Feb 20
Mutual funds have a single ex- imum lock-in of five years health and term insurance and
pense ratio. A typical index fund whereas, apart from equity- start SIPs in mutual funds for Tamilnad Mercantile Bank 7.25 7 6.75 6.5 Aug 14
is available for the direct plan at linked savings schemes (ELSS), specific goals. TNSC Bank 6.5 7.5 6.75 6.5 NA
15-30 basis points. Regular all other open-ended equity mu- In fact, even when mutual
plans of the same funds would tual funds can be liquidated at funds roll out NFOs, the advice Yes Bank 6.35 7.75 7.25 7.25 Nov 21
have an expense ratio of around any time. is often to invest in them only SMALL FINANCE BANKS
35-75 basis points. ETFs are Gains made on mutual fund after they develop a reasonable AU Small Finance Bank 6.75 8 7.5 7.5 Jan 24
even cheaper. The NAV of a mu- sales after a holding period of track record.
tual fund includes all charges one year are taxed at 10 per cent That cautionary note goes up Equitas Small Finance Bank 6.25 8.5 8.25 7.5 Aug 21
levied, and portfolio holdings beyond ₹1 lakh. Short-term several notches with ULIPs, Fincare Small Finance Bank 7 8.21 8.61 8.25 Oct 28
are usually disclosed every gains are taxed at 15 per cent. given their high charges (at least
Jana Small Finance Bank 8 8.5 7.25 7.25 Jan 02
month. Return calculations re- In the case of ULIPs, if the in the initial years) and limited
main straightforward. premium paid per year is more disclosures.
Suryoday Small Fin Bank 6 8.5 9.01 8.25 1-Mar
Ujjivan Small Finance Bank 6.5 8.5 7.75 7.2 7-Mar

*Data as on respective banks’ website on 15 Mar 2024; For each year range, the maximum
INSURANCE QUERY. offered interest rate is considered; interest rate is for a normal fixed deposit amount below ₹1
crore. Compiled by BankBazaar.com

protection against financial protection shields essential retail business’s unique

PRANAY SHAH
I am a small business owner
in a central part of the city
with my own showroom and
a growing business. I have
considered several insurance
products for liability, theft
and property. Is shop
insurance a better solution?
Chand G
Operating a shop is a thrilling
journey that combines
opportunities with inevitable
challenges.
This is where shop insurance
or retail insurance plays a
pivotal role. It’s tailored to
safeguard businesses in the
retail sector, spanning from
modest grocery stores to
elegant clothing boutiques and
bustling electronics shops.
Shop insurance offers a
versatile array of coverage
options. Property insurance, for
example, shields against
damages to physical assets —
covering everything from the
building itself to invaluable
inventory. It even extends its
protective umbrella to guard
against natural disasters.
Liability insurance provides
repercussions from accidents
and injuries that can occur on
the premises.
WHY SHOP COVER IS VITAL
Shop insurance offers a
comprehensive array of
coverage options. At its core, it
shields you from financial losses
stemming from unforeseeable
events beyond your control. Key
components of shop insurance
encompass protection against
Standard Fire and Special Perils,
which includes coverage against
a broad spectrum of threats
such as fire, lightning,
explosions, riots, earthquakes,
burglaries, property damage,
and more.
Furthermore, shop insurance
goes the extra mile by including
other built-in features at no
additional cost. These features
cover expenses incurred for
debris removal (up to 1 per cent
of the claim amount) and fees
for architects, surveyors, and
consulting engineers (up to 3
per cent of the claim amount).
These inclusions address not
only the evident damages but
also the concealed costs
associated with recovery.
OPTIONAL COVERS
Shop insurance offers an array
of optional add-on covers to
customise your policy according
GETTY IMAGES/ISTOCKPHOTO
to your retail business’s specific
needs. Among these, Burglary
Coverage offers protection
from scenarios such as burglary,
housebreaking, hold-ups, and
robberies.
Money in Safe provides
security against money loss,
covering cash, banknotes,
currency, bank drafts, cheques,
and more. It extends to losses or
damages involving safes, strong
rooms, or cash boxes, securing
money even outside your
premises with Money in Transit
coverage.
Electronic Equipment
devices such as computers,
printers and fax machines from
unforeseen physical loss or
damage, while Portable
Equipment coverage extends
this protection to laptops and
other portable devices. The
policy also includes Machinery
Breakdown coverage for
equipment such as
air-conditioners and
refrigerators.
Plate Glass protection covers
loss or damage to fixed glass due
to accidents. Neon Sign
coverage safeguards neon or
glow signs within your premises
from potential losses or
damages caused by accidents.
Workmen’s Compensation
ensures compliance with
liability laws, compensating
employees for injuries or death
during employment. Personal
Accident protection covers
employee death or disability
due to sudden, unforeseen,
violent events. Public Liability
shields against legal liability for
injuries or property damage to
third parties, and Baggage
coverage includes the loss or
damage of personal baggage.
Fidelity Guarantee insurance
protects against financial loss
resulting from employee fraud
or dishonesty. These optional
add-ons empower you to tailor
your shop insurance to your
requirements.
MAHARASHTRA’S MOVE
In a significant move to
underscore the importance of
shop insurance, the State of
Maharashtra is poised to
become the first in India to
mandate it for shops and
establishments. This move is
particularly significant in a
State known for its bustling
commercial centres and vibrant
retail landscape.
WHO SHOULD INVEST?
Shop insurance is designed to
cater to various retail
establishments, from small
kirana stores to bustling
electronics shops, from
convenience stores to thriving
shopping malls.
However, it’s crucial to note
that shop insurance has
exclusions such as losses from
war, pollution, wear and tear of
equipment, money loss due to
employee collusion, and
damage during the removal or
alteration of plate glass or neon
signboards. Understanding
these exclusions is essential for
a well-rounded policy.
The writer is Executive Vice-President &
Head - SME, Tata AIG General Insurance
Send your queries to
insurancequeries@thehindu.co.in

CM
YK . . . . . . . . ND-NDE
 10 . bl . Star Track MF Ratings
DELHI

businessline.portfolio
SUNDAY - MARCH 17 - 2024

bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino
NAV Corpus 5 Year 10 Year Ratio NAV Corpus 5 Year 10 Year Ratio
Regular Direct 1 Year 3 Year Regular Direct 1 Year 3 Year
(₹) (₹ Cr) CAGR CAGR CAGR CAGR (%) (₹) (₹ Cr) CAGR CAGR CAGR CAGR (%)

★★ Franklin Ind Smaller Companies . . . . . . . .. . . . . . 142.4 11823 1.8 1.0 49.1 27.6 21.4 21.5 0.42 EQUITY - SECTOR - IT FUNDS
★★ HSBC Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 66.7 13747 1.7 0.7 41.9 29.7 22.0 - 0.42
★ Aditya Birla SL Small Cap . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 69.4 5382 1.9 0.7 39.7 16.8 14.5 17.3 0.31 ★★★★★ Aditya Birla SL Digital India . . . . . . . . . . . . . . . . . .. . . . . . 161.8 4814 1.9 0.8 39.1 18.4 25.1 19.7 0.49
★ Sundaram Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 210.2 3056 2.0 0.9 45.8 24.9 20.2 20.8 0.39 ★★★★ ICICI Pru Technology. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 178.9 12224 1.7 0.9 36.1 17.9 25.0 19.1 0.48
- ICICI Pru Smallcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 73.2 7415 1.8 0.6 39.1 25.5 24.5 18.4 0.48 ★★★ Tata Digital India . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.5 10068 1.7 0.3 39.7 18.8 23.8 - 0.48
★★ SBI Technology Opport . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 182.5 3828 1.9 0.9 31.5 19.5 23.2 17.8 0.49

EQUITY - FOCUSED FUNDS ★ Franklin Ind Technology . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 447.0 1366 2.1 1.1 55.9 16.8 22.5 17.2 0.48

EQUITY - SECTOR - PHARMA FUNDS

★★★★★ 360 ONE Focused Equity. . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.0 6636 1.8 0.9 35.0 17.9 21.2 - 0.44
★★★★★ Quant Focused. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 82.0 733 2.3 0.8 52.7 23.1 21.5 20.6 0.45
- Nippon Ind Pharma . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 419.9 7132 1.8 1.0 57.5 19.3 22.7 17.2 0.65
★★★★ Franklin Ind Focused Equity . . . . . . . . . . . . . . . . .. . . . . . . . 91.4 10946 1.8 1.0 37.3 19.2 17.7 18.8 0.37
- SBI Healthcare Opport . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 328.8 2608 2.0 1.0 54.0 19.5 22.6 15.2 0.63
★★★★ ICICI Pru Focused Equity . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 71.7 7232 1.8 0.6 45.1 21.3 19.1 15.5 0.47
- Tata India Pharma & Healthcare . . . . . . . . .. . . . . . . . 24.4 872 2.3 0.8 57.5 19.0 22.6 - 0.70
★★★ Aditya Birla SL Focused. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 119.4 7060 1.8 0.9 37.9 15.8 15.2 15.1 0.33
- UTI Healthcare . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 216.3 953 2.3 1.3 53.5 16.2 20.5 13.7 0.61
★★★ HDFC Focused 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 181.7 9918 1.7 0.5 40.7 25.9 18.6 16.6 0.38
★★★ Nippon Ind Focused Equity . . . . . . . . . . . . . . . . . .. . . . . . 100.3 7655 1.9 1.2 31.6 15.1 16.6 19.1 0.33
HYBRID - AGGRESSIVE HYBRID FUNDS
★★★ SBI Focused Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 286.0 30736 1.6 0.8 33.2 14.8 15.9 17.6 0.33
★★★ Sundaram Focused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 138.3 1017 2.3 1.3 34.0 15.0 17.2 15.3 0.38
★★★★★ ICICI Pru Equity & Debt . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 329.1 32429 1.6 1.0 39.0 23.7 20.0 17.8 0.49
★★ DSP Focus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.2 2220 2.1 1.0 38.4 13.5 13.7 14.6 0.29
bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino ★★★★★ Quant Absolute . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 390.3 1788 2.1 0.8 36.9 24.1 23.8 19.2 0.58
NAV Corpus
★★ Motilal Oswal Focused . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.6 1792 2.1 0.9 28.7 9.8 13.3 14.0 0.29
Regular Direct 1 Year 3 Year 5 Year 10 Year Ratio ★★★★ BOI Mid & Small Cap Eq&Debt . . . . . . . . . . . . .. . . . . . . . 31.8 657 2.5 1.4 41.6 23.0 19.9 - 0.45
(₹) (₹ Cr) CAGR CAGR CAGR CAGR (%) ★ Axis Focused 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 46.7 13538 1.7 0.8 29.9 6.7 11.6 14.2 0.24
★★★★ Canara Robeco Equity Hybrid . . . . . . . . . . . . .. . . . . . 303.6 9809 1.7 0.7 26.1 12.6 14.2 15.0 0.39
★ Bandhan Focused Equity . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 68.9 1505 2.1 0.8 39.6 13.4 13.8 12.7 0.29
★★★★ JM Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 103.2 202 2.3 0.3 45.4 20.6 17.2 13.9 0.42
- JM Focused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 17.1 85 2.4 1.0 46.0 18.9 13.4 15.5 0.28
★★★★ Kotak Equity Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 51.0 5045 1.8 0.5 25.7 14.3 16.0 - 0.37

EQUITY FUNDS EQUITY - VALUE FUNDS

★★★ DSP Equity & Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 284.8
★★★ Franklin Ind Equity Hybrid . . . . . . . . . . . . . . . . . . . .. . . . . . 231.5
8804
1701
1.8
2.1
0.8
1.2
26.9
31.1
11.8
14.3
13.9 14.7
14.3 14.3
0.34
0.36
★★★★★ ICICI Pru Value Discovery . . . . . . . . . . . . . . . . . . . . . .. . . . . . 389.3 40653 1.6 1.0 43.6 25.7 22.0 19.7 0.51 ★★★ HDFC Hybrid Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 102.7 22643 1.7 1.0 23.1 14.6 13.9 13.6 0.35
EQUITY - LARGE CAP FUNDS ★★★★★ JM Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 83.3 555 2.4 1.0 54.6 25.0 21.5 19.9 0.44 ★★★ Mirae Asset Aggressive Hybrid . . . . . . . . . . . . .. . . . . . . . 27.2 8414 1.7 0.4 26.2 12.6 13.3 - 0.34
★★★★ Bandhan Sterling Value . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 128.8 8449 1.8 0.7 42.4 25.3 20.2 19.3 0.37 ★★★ SBI Equity Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 248.1 65074 1.4 0.8 27.0 12.4 13.4 14.5 0.34
★★★★★ Baroda BNP Paribas Large Cap . . . . . . . . . . .. . . . . . 192.6 1806 2.1 0.9 40.0 17.0 17.5 16.0 0.40
★★★★ Nippon Ind Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 184.1 7063 1.9 1.3 53.8 23.2 20.2 18.8 0.42 ★★★ Sundaram Aggressive Hybrid . . . . . . . . . . . . . .. . . . . . 139.1 4325 1.9 0.7 27.7 13.5 12.6 14.1 0.32
★★★★★ Canara Robeco Bluechip Equity . . . . . . . . .. . . . . . . . 52.7 12185 1.7 0.5 32.5 14.1 16.7 15.2 0.38
★★★ HSBC Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 88.6 11536 1.8 0.8 48.7 24.3 20.2 20.9 0.40 ★★★ UTI Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 337.7 5243 2.0 1.3 32.7 17.4 15.0 13.5 0.36
★★★★★ ICICI Pru Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 93.8 51554 1.5 0.9 41.6 19.5 17.5 16.2 0.37
★★★ Tata Equity P/E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 293.8 7256 1.8 0.8 45.4 20.8 16.9 18.8 0.37 ★★ Aditya Birla SL Equity Hybrid '95 . . . . . . . .. . . 1288.2 7409 1.9 1.1 28.1 11.8 11.4 13.0 0.26
★★★★ Edelweiss Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 72.7 771 2.3 0.8 34.4 15.8 15.9 15.2 0.34
★★★ Templeton India Value . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 621.6 1800 2.1 1.0 42.6 23.8 19.5 17.2 0.39 ★★ Bandhan Hybrid Equity . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.0 692 2.4 1.1 27.0 13.7 13.1 - 0.30
★★★★ HDFC Top 100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1009.6 31653 1.7 1.1 39.5 19.3 15.6 15.4 0.32
★★★ UTI Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 133.2 8557 1.8 1.1 36.0 16.5 16.9 14.3 0.36 ★★ HSBC Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 45.6 5139 1.9 0.9 29.1 12.0 12.1 13.5 0.29
★★★★ Kotak Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 482.0 7679 1.8 0.6 32.4 14.9 15.9 15.0 0.34
★★ HDFC Capital Builder Value . . . . . . . . . . . . . . . . . .. . . . . . 603.9 6717 1.8 1.0 41.2 19.2 15.3 16.2 0.31 ★★ Tata Hybrid Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 388.0 3694 1.9 1.0 25.6 13.9 13.1 13.7 0.33
★★★★ Nippon Ind Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 75.9 22767 1.7 0.8 43.2 22.1 16.9 17.1 0.34
e2213679

e2213679
★★ Quantum Long Term Equity Value . . . . .. . . . . . 105.6 1043 2.0 1.1 39.3 16.6 13.7 13.9 0.29
★★★ Axis Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 52.7 32646 1.6 0.7 29.9 10.2 13.6 14.3 0.31 ★ LIC MF Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . .. . . . . . 165.8 507 2.5 1.4 26.4 10.5 10.8 9.7 0.27
★ Aditya Birla SL Pure Value . . . . . . . . . . . . . . . . . . . . .. . . . . . 108.2 5775 1.9 1.0 53.3 21.4 15.9 18.2 0.34
★★★ Bandhan Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 64.9 1357 2.1 0.9 39.4 15.6 15.2 13.0 0.33 ★ Nippon Ind Equity Hybrid . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 89.0 3399 2.0 1.2 31.9 15.9 10.4 12.7 0.20
- Groww Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.3 16 2.3 1.1 42.6 17.6 14.7 - 0.31
★★★ HSBC Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 412.0 1743 2.2 1.2 35.9 14.1 15.0 13.8 0.33 - Edelweiss Aggressive Hybrid . . . . . . . . . . . . . . .. . . . . . . . 52.9 1353 2.1 0.3 33.5 17.6 16.1 14.4 0.40
★★★ Invesco India Largecap . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 57.2 983 2.2 0.8 38.7 16.5 15.0 14.7 0.32 - PGIM India Hybrid Equity . . . . . . . . . . . . . . . . . . . . . .. . . . . . 110.5 210 2.3 0.7 20.3 9.6 10.5 10.6 0.23
★★★ Mirae Asset Large Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 94.9 37676 1.5 0.5 26.2 12.5 13.5 16.1 0.29 EQUITY - TAX SAVING (ELSS) FUNDS - Shriram Aggressive Hybrid . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.1 46 2.6 0.9 30.4 12.6 11.9 10.8 0.32
★★★ SBI Blue Chip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 77.5 43355 1.6 0.9 27.7 13.7 15.0 15.4 0.32
★★★★★ Bank of India ELSS Tax Saver . . . . . . . . . . . . . . .. . . . . . 144.9 1150 2.2 1.2 51.5 22.2 24.1 18.6 0.53
★★★ Tata Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 434.2 1968 2.1 1.1 34.5 15.8 15.1 13.8 0.32 HYBRID - BALANCED ADVANTAGE FUNDS
★★★★★ Mirae Asset ELSS Tax Saver . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.1 21302 1.6 0.6 34.9 15.8 18.2 - 0.39
★★★ UTI Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 236.6 12147 1.8 0.9 29.4 13.3 14.4 14.2 0.31
★★★★★ Quant ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 339.9 7770 1.8 0.8 51.9 29.6 29.9 25.4 0.58
★★ Aditya Birla SL Frontline Equity . . . . . . . . . .. . . . . . 442.3 26480 1.7 1.0 33.6 15.5 14.7 14.8 0.31 ★★★★★ Edelweiss Balanced Advantage . . . . . . . . . .. . . . . . . . 44.6 10623 1.7 0.5 24.4 12.0 14.0 12.6 0.54
★★★★ Bandhan ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 134.8 6140 1.8 0.6 38.9 20.9 19.3 18.3 0.38
★★ Franklin Ind Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 862.6 7602 1.9 1.1 31.2 12.2 13.2 13.1 0.28 ★★★★★ ICICI Pru Balanced Advantage . . . . . . . . . . . . .. . . . . . . . 63.5 55229 1.5 0.8 22.3 12.5 12.6 12.5 0.33
★★★★ Canara Robeco ELSS Tax Saver . . . . . . . . . . .. . . . . . 146.9 7333 1.7 0.6 32.4 15.2 18.1 16.6 0.40
★★ LIC MF Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 47.9 1377 2.2 1.1 27.0 11.7 13.1 12.5 0.29 ★★★★ Aditya Birla SL Bal Advantage . . . . . . . . . . . . . .. . . . . . . . 89.5 7036 1.8 0.7 21.0 10.7 11.3 11.8 0.32
★★★★ DSP ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 110.7 14147 1.7 0.8 39.5 18.8 18.5 18.3 0.40
★★ PGIM India Large Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 299.4 545 2.4 0.9 26.2 11.6 12.9 13.1 0.27 ★★★★ HSBC Balanced Advantage . . . . . . . . . . . . . . . . . . .. . . . . . . . 38.1 1392 2.1 0.8 22.5 9.8 9.7 11.2 0.34
★★★★ JM ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.1 121 2.4 0.9 40.5 18.3 18.7 17.8 0.39
★ DSP Top 100 Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 380.9 3505 2.0 1.2 35.3 14.4 13.4 12.7 0.27 ★★★ Bandhan Balanced Advantage . . . . . . . . . . . .. . . . . . . . 21.0 2220 2.0 0.7 20.3 8.7 9.8 - 0.25
★★★★ SBI Long Term Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 361.8 21203 1.7 1.0 56.7 25.1 20.5 17.0 0.43
★ Groww Largecap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.8 116 2.3 1.1 35.2 14.3 12.6 12.8 0.27 ★★★ DSP Dynamic Asset Allocation . . . . . . . . . . . .. . . . . . . . 23.3 3125 2.0 0.8 19.5 8.0 9.3 8.7 0.28
★★★★ Union ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 55.3 824 2.3 1.5 36.4 17.9 18.3 14.3 0.40
- JM Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 139.9 100 2.4 0.9 43.4 18.6 16.2 14.0 0.56 ★★★ Invesco India Balanced Advantage . . . .. . . . . . . . 46.5 707 2.2 0.9 25.7 11.8 10.2 11.2 0.27
★★★ Baroda BNP Paribas ELSS Tax Saver .. . . . . . . . 77.7 836 2.3 1.1 40.5 14.2 15.9 15.5 0.36
- Taurus Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 138.6 44 2.6 2.5 42.7 16.0 13.6 12.2 0.29
★★★ Franklin Ind ELSS Tax Saver. . . . . . . . . . . . . . . . . .. . . 1239.6 6144 1.8 1.1 44.4 19.8 17.0 16.6 0.34 ★★★ Motilal Oswal Balanced Advantage . . .. . . . . . . . 19.0 1246 2.2 1.0 29.0 9.0 9.3 - 0.27
★★★ ICICI Pru Long Term Equity . . . . . . . . . . . . . . . . . . .. . . . . . 774.3 12895 1.7 1.0 35.9 16.3 15.9 15.8 0.33 ★★ Sundaram Balanced Advantage . . . . . . . . .. . . . . . . . 31.1 1520 2.1 0.6 22.1 10.4 8.5 9.4 0.32
EQUITY - LARGE & MID CAP FUNDS
★★★ Invesco India ELSS Tax Saver . . . . . . . . . . . . . . .. . . . . . 103.3 2545 1.9 0.7 40.3 14.4 15.4 16.7 0.33 ★★ UTI-Unit Linked Insurance . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.1 5295 1.6 0.9 13.7 7.2 7.1 8.8 0.19

★★★★★ Mirae Asset Large & Midcap . . . . . . . . . . . . . . . . . .. . . . . . 126.0 33711 1.6 0.6 37.7 16.5 19.1 22.7 0.41 ★★★ Kotak ELSS Tax Saver. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 98.9 5050 1.8 0.6 35.4 18.5 18.0 17.7 0.37 ★ Bank of India Balanced Advantage . . . .. . . . . . . . 23.1 119 2.5 1.5 27.2 13.5 9.0 8.7 0.25
★★★★★ Quant Large & Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 106.7 1884 2.0 0.8 56.2 27.6 24.1 22.5 0.54 ★★★ Mahi Manu ELSS Tax Saver. . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.4 790 2.2 0.6 32.8 17.1 16.5 - 0.35 - HDFC Balanced Advantage . . . . . . . . . . . . . . . . . . .. . . . . . 444.0 78759 1.4 0.8 38.7 22.1 17.7 16.7 0.42
★★★★ Edelweiss Large & Mid Cap . . . . . . . . . . . . . . . . . . .. . . . . . . . 70.2 2797 1.9 0.5 38.1 17.3 18.0 16.4 0.39 ★★★ Motilal Oswal ELSS Tax Saver . . . . . . . . . . . . . .. . . . . . . . 38.8 3120 1.9 0.7 47.7 20.4 17.7 - 0.37 - Nippon Ind Balanced Advantage . . . . . . . .. . . . . . 153.0 7651 1.8 0.6 23.3 11.6 11.3 12.4 0.33
★★★★ HDFC Large and Mid Cap . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 281.0 16757 1.7 0.8 47.4 23.3 20.0 14.7 0.41 ★★★ PGIM India ELSS Tax Saver . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.0 643 2.3 0.8 22.8 15.5 15.5 - 0.33

★★★★ ICICI Pru Large & Mid Cap . . . . . . . . . . . . . . . . . . . . . .. . . . . . 805.3 11333 1.7 0.8 43.3 24.3 20.3 16.4 0.42 ★★★ Sundaram ELSS Tax Saver . . . . . . . . . . . . . . . . . . . .. . . . . . 432.1 1222 2.2 1.7 35.4 17.4 15.9 16.6 0.34 HYBRID - EQUITY SAVINGS FUNDS
★★★★ SBI Large & Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 505.0 20633 1.7 0.8 33.0 20.2 18.1 17.6 0.37 ★★★ UTI ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 173.6 3437 1.9 0.9 31.0 13.1 14.9 14.3 0.31

★★★ Bandhan Core Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 104.9 3884 1.9 0.7 48.9 22.1 18.6 16.2 0.38 ★★ Axis ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 80.6 34025 1.5 0.8 34.7 9.0 13.1 15.9 0.27 ★★★★★ Edelweiss Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.8 366 1.6 0.9 16.6 9.0 9.7 - 0.55
★★★ Canara Robeco Emerging Equities . . . .. . . . . . 203.3 20325 1.6 0.6 33.2 15.6 16.9 21.5 0.36 ★★ Edelweiss Long Term Equity . . . . . . . . . . . . . . . .. . . . . . . . 92.5 316 2.3 0.6 35.1 15.4 15.1 14.5 0.31 ★★★★★ Sundaram Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 61.1 742 2.2 0.5 19.9 11.4 11.4 9.4 0.48
★★★ DSP Equity Opport. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 491.8 10917 1.8 0.8 41.8 18.4 17.6 17.5 0.38 ★★ HDFC ELSS Tax saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1144.9 13820 1.7 1.1 45.7 24.4 17.1 15.9 0.35 ★★★★ Kotak Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.1 4615 1.9 0.8 18.3 11.1 10.3 - 0.40
★★★ Invesco India Large & Mid Cap . . . . . . . . . . . . .. . . . . . . . 72.9 4933 1.9 0.7 47.0 18.1 16.5 16.5 0.35 ★★ LIC MF ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 123.6 1011 2.2 1.2 31.4 14.2 13.7 14.1 0.29 ★★★★ SBI Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.0 4183 1.2 0.7 19.8 9.8 10.3 - 0.33
★★★ Kotak Equity Opport . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 277.6 19092 1.6 0.5 38.4 19.2 18.6 17.8 0.39 ★★ Quantum ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . .. . . . . . 105.1 170 2.0 0.9 39.0 16.7 13.9 14.1 0.30 ★★★ Axis Equity Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.8 899 2.3 1.0 19.7 9.0 9.3 - 0.31
★★★ Sundaram Large and Mid Cap . . . . . . . . . . . . .. . . . . . . . 70.6 6118 1.8 0.7 https://play.google.com/store/apps/details?id=com.sdnews.epapers
35.7 16.5 15.8 17.1 0.32 ★★ Tata ELSS Tax Saver. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.7 4016 1.8 0.7 31.8 15.5 15.5 - 0.33 ★★★ HDFC Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 59.3 3900 2.0 1.0 18.7 11.1 10.3 10.1 0.37
★★★ Tata Large & Mid Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 454.1 6620 1.8 0.8 33.3 17.0 17.9 16.6 0.39 ★ Aditya Birla SL ELSS Tax Saver . . . . . . . . . . . . .. . . . . . . . 49.9 15006 1.7 1.0 31.8 8.2 9.9 14.2 0.21
★★★ HSBC Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.9 225 1.5 0.6 19.1 10.6 9.6 9.2 0.32
★★★ UTI Large & Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 142.6 2643 2.0 1.2 45.9 20.9 18.1 15.3 0.37 ★ HSBC ELSS Tax saver. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 104.1 3680 1.9 1.1 37.3 15.5 14.5 15.1 0.30
★★★ Tata Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 48.7 140 1.1 0.4 15.9 8.4 8.5 7.8 0.33
★★ BOI Large & Mid Cap Equity . . . . . . . . . . . . . . . . . .. . . . . . . . 75.8 290 2.5 1.5 40.8 19.9 18.0 14.2 0.39 ★ Nippon Ind ELSS Tax Saver . . . . . . . . . . . . . . . . . . .. . . . . . 107.0 14288 1.7 1.1 40.0 18.9 14.3 15.1 0.28
★★ DSP Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.9 885 1.3 0.5 14.7 8.6 8.6 - 0.26
★★ LIC MF Large & Midcap. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.6 2550 2.0 0.8 36.2 15.9 15.9 - 0.35 - HSBC Tax Saver Equity . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 73.5 223 2.5 1.6 40.3 16.6 14.9 14.9 0.32
★★ ICICI Pru Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.3 9429 1.0 0.5 12.2 8.5 8.3 - 0.24
★★ Navi Large & Midcap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.3 277 2.3 0.3 24.8 14.8 14.1 - 0.29 - Navi ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.5 63 2.3 0.4 30.5 13.5 12.2 - 0.25
★ Aditya Birla SL Equity Sav . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.6 543 1.1 0.6 14.9 6.4 8.2 - 0.24
★★ Nippon Ind Vision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1165.6 4238 2.0 1.6 44.2 19.6 17.8 15.4 0.36 - Sundaram Diversified Equity . . . . . . . . . . . . . . .. . . . . . 190.5 1604 2.2 1.6 30.9 15.6 13.8 14.5 0.28
★ Nippon Ind Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.5 410 1.7 0.9 15.4 8.0 2.7 - 0.01
★ Aditya Birla SL Equity Advantage . . . . . . .. . . . . . 752.8 5526 1.9 1.1 33.4 10.7 13.7 15.4 0.27 - Taurus ELSS Tax Saver. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 160.5 75 2.5 1.8 36.5 18.1 15.5 15.2 0.33
- Bandhan Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.3 102 1.4 0.4 11.8 6.9 7.4 6.7 0.23
★ Franklin Ind Equity Advantage . . . . . . . . . . . .. . . . . . 152.3 3167 2.0 1.4 33.3 14.3 13.8 14.5 0.28
EQUITY - CONTRA FUNDS - LIC MF Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.2 13 2.0 1.0 16.0 7.2 8.4 7.2 0.25
EQUITY - FLEXI CAP FUNDS - Mahi Manu Eq Sav Dhan San Yojana . .. . . . . . . . 18.5 454 2.4 0.8 18.7 9.7 10.7 - 0.34
- Invesco India Contra . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 105.3 13824 1.7 0.5 40.3 17.7 17.0 18.9 0.37 - PGIM India Equity Sav . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 44.8 91 1.3 0.5 9.4 7.1 7.4 8.4 0.24
★★★★★ JM Flexicap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 82.7 1657 2.0 0.2 54.5 24.5 21.8 19.4 0.49 - Kotak India EQ Contra . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 124.7 2567 2.0 0.6 46.5 20.8 19.1 17.1 0.39
★★★★★ Parag Parikh Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 68.2 58901 1.3 0.6 39.9 21.7 22.3 19.7 0.52 - SBI Contra . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 327.5 25325 1.6 0.7 45.9 27.7 24.7 18.6 0.53 bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%)
★★★★ Canara Robeco Flexi Cap . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 282.3 11875 1.7 0.6 32.6 15.0 16.3 15.4 0.36 NAV Corpus
Tracking
Regular Direct 1 Year 3 Year 5 Year 10 Year Error
★★★★ HDFC Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1580.7 49657 1.5 0.8 43.2 24.0 19.0 17.4 0.38 EQUITY - DIVIDEND YIELD FUNDS (₹) (₹ Cr) CAGR CAGR CAGR CAGR (%)
★★★★ PGIM India Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.3 5945 1.8 0.4 25.4 13.6 18.3 - 0.39
★★★★ Union Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 44.1 1983 2.1 0.9 38.9 17.6 18.1 14.0 0.39 ★★★★★ Templeton India Equity Income. . . . . . . . . .. . . . . . 123.4 2091 2.1 1.4 41.2 24.3 21.4 17.7 0.48
★★★ DSP Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 82.1 10018
★★★ Edelweiss Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.1 1644
1.8
2.0
0.7
0.5
33.8
38.9
14.0
17.6
16.5 16.4
16.7 -
0.35
0.35
★★★★ ICICI Pru Dividend Yield Equity. . . . . . . . . . . .. . . . . . . . 43.8
★★★ Sundaram Dividend Yield . . . . . . . . . . . . . . . . . . . . .. . . . . . 120.4
3449
805
1.9
2.3
0.5
1.0
51.5
41.5
28.8
19.5
21.6
18.0 16.9
- 0.47
0.42
PASSIVE FUNDS
★★★ Franklin Ind Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1368.9 14471 1.8 1.0 43.8 20.2 18.2 17.3 0.37 ★★ UTI Dividend Yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 142.7 3614 2.0 1.4 39.1 19.1 16.9 15.0 0.39
★★★ Kotak Flexicap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 69.5 45112 1.5 0.6 33.9 15.0 14.9 16.9 0.31 ★ Aditya Birla SL Dividend Yield . . . . . . . . . . . . . .. . . . . . 393.3 1305 2.3 1.5 48.9 25.7 19.8 15.5 0.43 PASSIVE FUNDS - TRACKING NIFTY 50 INDEX
★★★ SBI Flexicap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 94.2 20097 1.7 0.9 29.3 13.7 14.5 16.7 0.31
★★★ UTI Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 265.5 24684 1.7 0.9 22.2 7.3 13.5 14.4 0.28 EQUITY - THEMATIC - CONSUMPTION FUNDS - HDFC Indx Fund-NIFTY 50 . . . . . . . . . . . . . . . . . . . . .. . . . . . 206.1 12614 0.4 0.2 30.6 14.6 14.7 13.8 0.06

★★ Aditya Birla SL Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . .. . . 1464.2 19767 1.7 0.9 36.6 15.6 15.3 17.0 0.31 - Nippon Ind ETF Nifty 50 BeES . . . . . . . . . . . . . .. . . . . . 243.7 21580 0.0 - 31.1 15.1 15.2 14.2 0.05
★★★★★ Canara Robeco Consumer Trends. . . . . .. . . . . . . . 90.8 1364 2.1 0.9 36.2 17.1 18.6 18.9 0.40 - SBI Nifty 50 ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 230.4 173832 0.0 - 31.1 15.1 15.2 - 0.05
★★ Bandhan Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 172.7 6754 1.9 1.2 34.4 15.3 13.5 14.6 0.28
★★★★ Mirae Asset Great Consumer . . . . . . . . . . . . . . . .. . . . . . . . 76.4 3138 1.9 0.4 36.7 19.9 17.2 17.9 0.37
★★ HSBC Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 177.8 4200 2.0 1.2 41.8 17.8 15.5 15.3 0.32 - UTI Nifty ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 237.1 48452 0.1 - 31.1 15.1 15.2 - 0.05
★★★★ SBI Consumption Opport. . . . . . . . . . . . . . . . . . . . . .. . . . . . 262.2 1993 2.1 1.0 31.7 22.8 17.7 16.9 0.36
★★ LIC MF Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 83.9 940 2.3 1.6 33.9 13.4 12.9 11.0 0.29 - UTI Nifty 50 Indx Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 149.2 15649 0.4 0.2 30.7 14.8 14.9 13.9 0.06
★★★ Aditya Birla SL India GenNext . . . . . . . . . . . . . .. . . . . . 178.0 4688 1.9 0.9 33.5 16.8 17.0 18.1 0.37
★ Motilal Oswal Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 46.6 9424 1.8 0.9 49.4 12.9 12.5 - 0.26
★★★ Tata India Consumer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.0 1858 2.1 0.8 39.6 18.6 15.9 - 0.36
★ Taurus Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 201.4 334 2.6 2.6 41.8 16.7 12.7 12.0 0.26 PASSIVE FUNDS - TRACKING BSE SENSEX INDEX
★★ ICICI Pru FMCG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 447.4 1439 2.2 1.2 17.0 18.1 13.5 14.1 0.34
- Quant Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 90.5 4155 1.9 0.7 54.5 31.7 28.5 24.0 0.59
★★ UTI India Consumer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 48.5 569 2.5 1.6 34.3 15.1 13.9 12.5 0.32 - HDFC Indx Fund - S&P BSE Sensex . . . . .. . . . . . 663.8 6474 0.4 0.2 27.3 13.8 14.6 13.7 0.06
★ Sundaram Consumption. . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 78.8 1365 2.2 1.4 34.4 16.4 13.8 16.5 0.29
EQUITY - MULTI CAP FUNDS - SBI S&P BSE Sensex ETF . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 786.9 105571 0.0 - 27.7 14.2 15.1 14.2 0.08
- Nippon Ind Consumption . . . . . . . . . . . . . . . . . . . . .. . . . . . 166.9 699 2.4 0.9 37.8 23.1 21.1 15.8 0.48
- UTI Sensex ETF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 782.0 36897 0.1 - 27.7 14.2 15.1 - 0.05
- Baroda BNP Paribas Multi Cap . . . . . . . . . . . .. . . . . . 232.7 2247 2.1 1.1 41.5 20.3 19.3 15.9 0.42
- ICICI Pru Multicap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 658.7 11180 1.8 0.9 46.7 21.3 17.7 17.3 0.36 EQUITY - THEMATIC - INFRASTRUCTURE FUNDS PASSIVE FUNDS - TRACKING NIFTY NEXT 50 INDEX
- Invesco India Multicap . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 104.4 3145 1.9 0.7 39.4 18.2 17.5 18.0 0.36
- Nippon Ind Multi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 237.9 26809 1.6 0.9 48.4 26.6 19.3 17.5 0.36 ★★★★★ Invesco India Infrastructure . . . . . . . . . . . . . . . . .. . . . . . . . 51.5 904 2.3 0.9 59.6 29.7 25.0 20.9 0.53
- ICICI Pru Nifty Next 50 Indx Fund . . . . . . . .. . . . . . . . 51.1 4208 0.7 0.3 55.1 18.7 15.6 16.5 0.07
- Quant Active . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 598.6 8467 1.8 0.7 46.5 26.2 27.2 23.2 0.54 ★★★★★ Quant Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.4 2208 2.0 0.7 68.8 39.9 33.3 23.5 0.58
- Nippon Ind ETF Junior BeES . . . . . . . . . . . . . . . .. . . . . . 617.0 4507 0.2 - 56.0 19.5 16.5 17.2 0.04
- Sundaram Multi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 311.3 2391 2.0 0.9 38.3 19.5 17.1 17.3 0.36 ★★★★ BOI Manufacturing & Infra. . . . . . . . . . . . . . . . . . . . .. . . . . . . . 45.4 239 2.4 1.0 51.7 26.7 24.0 19.0 0.54
- UTI Nifty Next 50 Indx Fund . . . . . . . . . . . . . . . . . .. . . . . . . . 20.7 3385 0.8 0.4 54.9 18.8 15.8 - 0.07
★★★★ ICICI Pru Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 158.7 4932 1.9 1.2 57.2 36.4 25.6 19.5 0.49

EQUITY - MID CAP FUNDS ★★★★ SBI Infrastructure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.6 2266 2.1 1.5 59.1 30.1 24.0 19.6 0.48
PASSIVE FUNDS - TRACKING BANKING INDEX
★★★ Bandhan Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.6 1009 2.3 1.1 63.3 29.7 21.9 17.9 0.42
★★★★★ PGIM India Midcap Opport. . . . . . . . . . . . . . . . . . . .. . . . . . . . 52.4 9977 1.7 0.5 26.0 18.4 23.8 17.7 0.49 ★★★ Canara Robeco Infrastructure . . . . . . . . . . . . .. . . . . . 120.0 502 2.5 1.2 47.5 27.3 21.8 18.6 0.46
- ICICI Pru Nifty Private Bank ETF . . . . . . . . . .. . . . . . . . 23.3 1894 0.2 - 18.1 7.8 - - 0.05
★★★★★ Quant Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 202.7 5422 1.8 0.7 60.3 34.3 29.2 19.6 0.60 ★★★ DSP India T.I.G.E.R. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 253.4 3253 2.0 1.1 57.9 31.8 22.9 19.5 0.45
- Nippon Ind ETF Nifty Bank BeES. . . . . . . . .. . . . . . 474.8 6120 0.2 - 20.1 10.3 9.7 14.7 0.05
★★★★ Axis Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 87.7 25264 1.6 0.5 37.5 16.5 19.5 20.0 0.45 ★★★ Franklin Build India . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 115.1 2149 2.1 1.1 64.2 30.8 22.5 22.6 0.44
- Nippon Ind ETF Nifty PSU Bank BeES. . . . . . . . 74.9 2561 0.5 - 86.1 43.6 16.9 11.1 0.07
★★★★ Edelweiss Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 74.2 5067 1.8 0.4 47.4 23.0 23.1 22.2 0.46 ★★★ Kotak Infra & Economic Reform . . . . . . . . . .. . . . . . . . 54.2 1543 2.1 0.7 42.8 29.1 22.5 19.7 0.44
★★★★ Motilal Oswal Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 75.8 8481 1.8 0.6 52.6 31.4 25.1 22.1 0.46 ★★★ LIC MF Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 35.6 199 2.5 1.5 53.1 26.7 20.6 15.5 0.42 PASSIVE FUNDS - TRACKING MIDCAP INDEX
★★★★ Nippon Ind Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3139.4 24481 1.7 0.9 51.3 25.3 23.4 20.4 0.48 ★★★ Tata Infrastructure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 156.1 1804 2.1 1.3 56.3 29.0 23.4 19.1 0.49
★★★ Baroda BNP Paribas Mid Cap . . . . . . . . . . . . . . .. . . . . . . . 82.2 1791 2.0 0.6 43.7 20.2 21.3 19.8 0.46 ★★ Aditya Birla SL Infrastructure . . . . . . . . . . . . . . .. . . . . . . . 79.8 964 2.4 1.5 53.0 25.4 20.1 17.4 0.39 - ICICI Pru Midcap Select ETF . . . . . . . . . . . . . . . . . .. . . . . . 145.4 45 0.2 - 57.3 18.7 16.8 - 0.65
★★★ HDFC Mid-Cap Opport . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 152.5 60187 1.5 0.8 53.5 26.9 22.8 21.7 0.47 ★★ HSBC Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.7 2188 2.1 1.1 48.1 27.2 19.1 19.5 0.37 - Motilal Oswal Nifty Midcap 100 ETF . . .. . . . . . . . 49.8 352 0.2 - 56.4 25.6 21.9 19.5 0.06
★★★ Invesco India Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 122.7 4240 1.9 0.6 45.0 20.4 20.3 20.5 0.44 ★★ Sundaram Infra Advantage. . . . . . . . . . . . . . . . . . .. . . . . . . . 78.1 865 2.5 1.9 50.9 24.3 19.3 17.3 0.37 - Nippon Ind ETF Nifty Midcap 150 . . . . . . .. . . . . . 176.8 1271 0.2 - 53.0 24.5 22.7 - 0.05
★★★ Kotak Emerging Equity . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 100.1 39738 1.5 0.4 35.0 20.2 21.2 22.4 0.43 ★ HDFC Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.0 1607 2.2 1.3 73.7 34.2 18.6 15.1 0.36
★★★ SBI Magnum Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 193.6 16459 1.7 0.8 35.4 21.4 21.4 19.3 0.43 ★ UTI Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 121.3 2042 2.2 1.9 47.5 22.1 18.2 15.8 0.37 PASSIVE FUNDS - TRACKING SMALLCAP INDEX
★★★ Tata Mid Cap Growth. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 348.4 3293 1.9 0.8 46.9 20.9 20.4 20.7 0.44 - Taurus Infrastructure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 57.1 8 2.5 2.0 50.9 21.4 18.3 17.3 0.40
★★★ Taurus Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 107.1 117 2.6 2.2 47.5 20.2 20.2 19.8 0.44 - ABSL Nifty Small 50 Indx . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 16.5 148 1.1 0.5 64.8 - - - 0.09
★★★ UTI Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 245.2 10047 1.8 0.8 37.9 18.4 19.5 19.3 0.41 EQUITY - THEMATIC - MNC FUNDS - Nippon Ind Nif Small250 Indx . . . . . . . . . . . . . .. . . . . . . . 27.1 1197 0.9 0.3 55.8 24.0 - - 0.08
★★ DSP Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 113.8 16312 1.7 0.8 39.5 13.8 16.2 18.8 0.36
★★ Franklin Ind Prima . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2106.3 10181 1.8 1.0 44.2 17.9 17.1 19.1 0.36 - Aditya Birla SL MNC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1121.7 3550 2.0 1.2 28.6 6.5 8.4 14.6 0.19 SMART BETA FUNDS
★★ HSBC Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 301.8 9725 1.8 0.7 49.3 20.0 18.0 20.6 0.37 - SBI Magnum Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 333.3 6322 1.9 1.2 20.8 13.5 14.8 15.8 0.37
★★ ICICI Pru Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 231.5 5484 1.9 1.0 46.6 21.5 19.6 19.8 0.40 - UTI MNC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 340.1 2758 2.0 1.2 30.6 13.7 12.0 15.5 0.28 - ICICI Pru Nifty 100 Low Vol 30 ETF . . . . . .. . . . . . . . 19.5 2662 0.4 - 41.4 18.1 16.9 - 0.05
★ Aditya Birla SL Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 616.6 4982 1.9 1.1 40.9 20.0 16.4 17.8 0.35 - ICICI Pru Alpha Low Vol 30 ETF . . . . . . . . . . . .. . . . . . 262.5 829 0.4 - 56.3 23.4 - - 0.05
★ Sundaram Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1064.2 10262 1.8 1.0 50.3 21.9 18.0 19.4 0.35 EQUITY - SECTOR - BANKING FUNDS - Nippon Ind ETF Nifty 50 Value 20 . . . . . . . .. . . . . . 139.8 110 0.3 - 36.5 20.3 19.3 - 0.05
- LIC MF Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 22.6 243 2.5 1.6 44.8 16.0 15.6 - 0.32 - SBI Nifty 200 Quality 30 ETF. . . . . . . . . . . . . . . . . .. . . . . . 197.7 73 0.5 - 35.4 16.2 15.3 - 0.05
★★★★★ Sundaram Fin Serv Opport . . . . . . . . . . . . . . . . . . .. . . . . . . . 86.3 1150 2.2 0.8 39.9 16.3 16.5 16.3 0.32 - UTI Nif200 Momentum 30 Indx Fund .. . . . . . . . 20.0 4513 0.9 0.5 63.6 26.2 - - 0.09
EQUITY - SMALL CAP FUNDS ★★★★ SBI Banking & Fin Serv . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 32.3 4972 1.9 0.8 34.8 11.5 12.9 - 0.25
★★★★ Tata Banking and Fin Serv . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.3 1944 2.0 0.5 27.1 11.2 12.9 - 0.27 PASSIVE FUNDS - GOLD ETF AND SILVER ETF
★★★★★ Nippon Ind Small Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 135.9 46044 1.5 0.8 49.8 31.4 27.7 27.1 0.51 ★★★ Aditya Birla SL Bank & Fin Serv. . . . . . . . . . . .. . . . . . . . 49.3 3023 2.0 1.0 32.2 12.6 11.5 16.6 0.23
★★★★★ Quant Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 223.1 17193 1.7 0.7 60.6 39.5 34.2 19.7 0.59 ★★★ ICICI Pru Banking & Fin Serv . . . . . . . . . . . . . . . . .. . . . . . 106.0 7356 1.9 1.0 27.0 12.0 10.7 16.9 0.21 - HDFC Gold ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 57.6 4118 0.6 - 13.6 13.0 14.5 7.2 -
★★★★ AXIS Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 83.5 19606 1.6 0.5 36.1 24.0 25.0 23.0 0.51 ★★★ Invesco India Fin Serv . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 106.0 726 2.4 1.1 38.9 14.7 13.7 16.8 0.28 - ICICI Pru Silver ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 75.3 1701 0.4 - 10.1 - - - -
★★★★ Kotak Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 210.2 14196 1.7 0.4 32.8 20.6 24.3 21.8 0.47 ★★★ Nippon Ind Banking & Fin Serv . . . . . . . . . . . .. . . . . . 503.2 5225 1.9 1.1 34.7 18.0 12.8 16.4 0.25 - Nippon Ind ETF Gold BeES . . . . . . . . . . . . . . . . . . . .. . . . . . . . 55.5 8929 0.8 - 12.2 12.4 14.3 7.1 -
★★★ DSP Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 152.7 13710 1.7 0.9 39.3 23.9 22.6 23.2 0.46 ★★ Baroda BNP Paribas Bank&Fin Serv . .. . . . . . . . 37.5 121 2.5 1.3 29.5 9.3 10.7 13.5 0.22 - Nippon Ind Silver ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 72.7 1518 0.5 - 10.0 - - - -
★★★ HDFC Small Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 114.4 28599 1.6 0.6 43.9 28.9 21.2 20.6 0.41 ★★ LIC MF Banking & Fin Serv . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 17.8 295 2.5 1.2 23.1 11.3 10.5 - 0.22 - SBI Gold ETF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 57.1 3761 0.7 - 12.2 12.6 14.5 7.1 -
★★★ SBI Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 143.8 25525 1.6 0.7 32.0 21.2 22.9 25.7 0.50 ★ UTI Banking and Fin Serv . . . . . . . . . . . . . . . . . . . . . .. . . . . . 150.3 1029 2.3 1.2 28.4 11.7 8.8 13.0 0.19
★★★ Union Small Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.1 1328 2.2 0.9 39.8 22.8 23.0 - 0.47 - Taurus Banking & Fin Serv . . . . . . . . . . . . . . . . . . . .. . . . . . . . 45.8 10 2.4 1.4 28.6 12.2 12.8 14.1 0.26 Source : ACE MF. NAV for the growth option as on 15-03-2024. Returns for regular plans considered.

CM
YK ... . . . . . . ND-NDE
 Star Track MF Ratings . bl . 11
DELHI

businessline.portfolio
SUNDAY - MARCH 17 - 2024

bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA
NAV Corpus NAV Corpus 3 Year 5 Year & Below NAV Corpus 3 Year 5 Year & Below
Regular Direct 1 Month 3 Month 6 Month 1 Year & Below Regular Direct 1 Year 2 Year Regular Direct 1 Year 2 Year
(₹) (₹ Cr) Absolute Absolute Absolute CAGR (₹) (₹ Cr) CAGR CAGR CAGR CAGR (₹) (₹ Cr) CAGR CAGR CAGR CAGR

★★★ HSBC Medium Duration . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.4 817 1.1 0.4 7.7 5.5 5.4 6.3 16.28 ★★★ Franklin Ind Banking & PSU Debt . . . . . . .. . . . . . . . 20.3 639 0.6 0.3 7.3 5.6 5.3 6.6 4.73
★★★ Kotak Medium Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.4 1730 1.6 0.6 8.5 5.6 6.0 6.1 25.74 ★★★ Nippon Ind Banking & PSU Debt . . . . . . . . .. . . . . . . . 18.7 5362 0.8 0.4 7.5 5.6 5.5 7.0 -
CASH FUNDS ★★★ SBI Magnum Medium Duration . . . . . . . . . . .. . . . . . . . 46.1 6560 1.2 0.7 7.8 5.9 5.8 7.5 26.87 ★★★ SBI Banking and PSU . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2815.7 4262 0.8 0.3 7.3 5.3 5.0 6.4 6.45
★★ Bandhan Bond - Medium Term . . . . . . . . . . .. . . . . . . . 41.4 1657 1.5 0.8 6.9 4.3 4.5 5.9 - ★★ LIC MF Banking & PSU Debt . . . . . . . . . . . . . . . . . .. . . . . . . . 31.4 1352 0.8 0.3 7.2 5.4 4.8 6.0 -
LIQUID FUNDS ★★ DSP Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 73.6 354 0.7 0.4 7.9 5.6 5.4 5.2 - ★★ Sundaram Banking & PSU Debt . . . . . . . . . .. . . . . . . . 38.8 350 0.4 0.2 7.5 5.4 4.6 5.9 -
★ Nippon Ind Strategic Debt . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.9 120 2.0 1.4 8.1 5.1 9.4 -1.0 28.01 ★★ UTI Banking & PSU. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.8 983 0.6 0.3 7.5 9.0 7.3 5.9 -
- Aditya Birla SL Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 384.3 43962 0.3 0.2 7.4 7.3 7.1 7.2 - - Baroda BNP Paribas Med Duration . . . .. . . . . . . . 17.2 29 1.0 0.7 8.1 5.8 5.2 3.5 13.94 ★ HSBC Banking and PSU Debt . . . . . . . . . . . . . . .. . . . . . . . 22.0 4595 0.6 0.2 7.0 4.4 4.4 6.2 -
- Axis Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2654.7 33841 0.2 0.2 7.5 7.4 7.2 7.2 - - Franklin Ind Income Opport . . . . . . . . . . . . . . . . .. . . . . . . . 24.9 0 - - 15.6 4.5 4.8 6.1 - ★ Invesco India Banking and PSU . . . . . . . . . .. . . 2046.2 122 0.7 0.3 7.6 4.7 5.1 5.9 -
- HDFC Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4681.4 62569 0.3 0.2 7.5 7.4 7.1 7.1 - - Sundaram Medium Term Bond . . . . . . . . . . .. . . . . . . . 63.4 46 2.2 1.3 5.9 3.7 3.5 4.3 2.18 DEBT - GILT FUND WITH 10 YEAR CONSTANT DURATION
- HSBC Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2378.4 19885 0.2 0.1 7.4 7.3 7.2 7.2 - - UTI Medium Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 16.6 41 1.6 1.0 7.1 5.1 5.9 4.3 27.40
- ICICI Pru Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 353.2 52980 0.3 0.2 7.4 7.4 7.1 7.2 - - Bandhan G-Secs - Constant Maturity. . . . . . . . 40.6 341 0.5 0.3 8.8 5.8 5.2 7.6 -
- Kotak Liquid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4823.4 36628 0.3 0.2 7.4 7.3 7.1 7.1 - - DSP 10Y G-Sec . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.5 49 0.5 0.3 8.7 5.7 3.9 6.4 -
- Nippon Ind Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 5823.3 35419 0.3 0.2 7.5 7.4 7.1 7.2 - DEBT - MEDIUM TO LONG DURATION FUNDS - ICICI Pru Constant Maturity Gilt . . . . . . . . . .. . . . . . . . 21.9 2457 0.4 0.2 8.7 5.8 5.5 7.8 -
- SBI Liquid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3732.7 69299 0.3 0.2 7.4 7.3 7.1 7.1 - - SBI Magnum Constant Maturity . . . . . . . . . .. . . . . . . . 56.9 1637 0.6 0.3 8.5 6.0 5.5 7.2 -
- Tata Liquid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3757.6 29639 0.3 0.2 7.4 7.3 7.2 7.2 - ★★★★★ UTI Medium to Long Duration . . . . . . . . . . . . .. . . . . . . . 66.3 303 1.6 1.3 7.5 9.6 9.8 4.7 1.58
★★★★ ICICI Pru Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.1 2974 1.0 0.6 8.5 6.6 5.8 7.2 - DEBT - GILT FUNDS
- UTI Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3913.2 26477 0.3 0.2 7.3 7.3 7.1 7.2 -
★★★★ SBI Magnum Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 63.9 1729 1.5 0.8 8.1 6.1 5.6 7.5 24.59
★★★★★ ICICI Pru Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 92.4 4879 1.1 0.6 8.8 7.3 6.4 7.9 -
★★★ Aditya Birla SL Income . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 113.5 1789 1.1 0.7 7.6 5.3 5.7 7.1 -
★★★★★ SBI Magnum Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 59.7 7951 0.9 0.5 9.1 7.1 6.1 8.2 -
★★★ Kotak Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 69.6 1834 1.8 0.6 8.0 5.4 5.3 6.8 -
OVERNIGHT FUNDS ★★★★ Axis Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 22.9 254 0.8 0.4 8.8 6.1 5.2 7.6 -
★★★ LICMFMediumtoLongDurationBond . . . . . . . . 65.1 185 1.2 0.2 8.0 6.0 5.0 6.0 -
★★★★ DSP Gilt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 86.7 713 1.2 0.6 9.6 6.7 6.1 8.1 -
- HDFC Overnight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3512.3 9602 0.2 0.1 6.5 6.6 6.6 6.6 - ★★★ Nippon Ind Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 81.5 277 1.5 0.4 8.0 6.4 5.5 6.8 -
★★★★ Edelweiss G-Secs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 22.3 139 1.2 0.5 8.6 6.0 6.1 7.9 -
- SBI Overnight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3837.9 14903 0.2 0.1 6.4 6.5 6.6 6.7 - ★★ Bandhan Bond - Income . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 59.5 491 2.0 1.3 7.2 4.2 4.4 6.2 -
★★★ Aditya Birla SL G-Secs . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 73.8 1481 1.1 0.5 8.7 5.7 5.9 7.4 -
- UTI Overnight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3234.8 5570 0.1 0.1 6.5 6.6 6.7 6.7 - ★★ Canara Robeco Income . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 50.7 125 1.9 0.8 6.6 4.7 4.2 5.9 -
★★★ Bandhan G-Secs - Investment . . . . . . . . . . . . .. . . . . . . . 32.1 1543 1.1 0.5 9.6 5.7 5.7 7.9 -
★ HDFC Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 52.5 758 0.9 0.8 7.8 5.0 4.5 5.6 -
★★★ HDFC Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 49.8 2401 0.9 0.5 7.9 5.5 5.1 6.1 -
- HSBC Medium to Long Duration . . . . . . . . .. . . . . . . . 38.3 46 1.9 0.7 6.7 4.2 4.2 5.4 -
★★★ Kotak Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 87.8 3137 1.5 0.5 8.1 6.1 5.5 7.1 -
- JM Medium to Long Duration. . . . . . . . . . . . . . .. . . . . . . . 55.9 22 1.0 0.5 7.5 4.7 4.3 2.4 -
ARBITRAGE FUNDS ★★★ Nippon Ind Gilt Securities . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 34.6 1531 1.4 0.6 8.3 5.8 5.3 7.0 -
★★★ PGIM India Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.4 120 1.5 0.5 8.3 5.7 5.2 6.5 -
- Aditya Birla SL Arbitrage . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.3 10668 1.0 0.4 7.4 8.3 7.4 7.5 - ★★★ UTI Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 56.9 580 1.0 0.7 8.2 6.4 5.3 7.1 -
- Bandhan Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.7 5768 1.1 0.4 7.2 8.2 7.4 7.5 - DEBT - LONG DURATION FUNDS
★★ Baroda BNP Paribas Gilt . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 38.2 1416 0.5 0.1 8.9 5.9 5.3 6.2 -
- Edelweiss Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 17.7 8768 1.0 0.4 7.3 8.7 7.5 7.6 - ★★ Canara Robeco Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 68.7 103 1.3 0.5 7.9 5.7 4.9 6.5 -
- ICICI Pru Long Term Bond . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 80.6 733 0.9 0.4 9.0 6.0 5.1 6.7 -
- HDFC Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.0 10994 1.0 0.5 7.2 8.3 7.4 7.6 - ★★ Tata Gilt Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 70.9 438 1.7 0.5 8.5 6.3 5.3 6.3 -
- Nippon Ind Nivesh Lakshya . . . . . . . . . . . . . . . . . .. . . . . . . . 16.1 7258 0.6 0.3 9.7 7.2 5.9 8.1 -
- ICICI Pru Equity-Arbitrage . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.3 17500 0.9 0.3 7.3 8.4 7.3 7.5 - ★ Franklin Ind G-Secs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 53.2 138 1.1 0.6 5.7 4.4 4.6 5.4 -
- Invesco India Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.2 14593 1.1 0.4 7.5 8.3 7.6 7.7 0.10 ★ HSBC Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 60.4 209 1.7 0.5 7.0 5.4 4.5 5.9 -
- Kotak Equity Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 34.2 39099 1.0 0.4 7.6 8.8 7.8 7.9 - - Invesco India Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2574.7 247 1.3 0.5 9.3 6.6 5.1 6.0 -
DEBT - DYNAMIC BOND FUNDS
e2213679

e2213679
- Nippon Ind Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.3 13854 1.1 0.4 7.1 8.3 7.3 7.5 - - LIC MF Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 54.5 47 1.5 1.7 8.1 5.3 4.7 6.5 -
- SBI Arbitrage Opport . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.9 27798 1.0 0.4 7.4 8.3 7.4 7.8 -
★★★★★ Aditya Birla SL Dynamic Bond . . . . . . . . . . . . .. . . . . . . . 41.5 1717 1.2 0.6 7.8 7.3 6.7 5.8 3.49
- UTI Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 32.0 4677 0.9 0.4 7.4 8.3 7.5 7.6 - DEBT - FLOATER FUNDS
★★★★★ ICICI Pru All Seasons Bond . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.2 11810 1.3 0.5 8.0 6.9 6.1 7.7 21.64
★★★★ 360 ONE Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.2 735 0.5 0.3 9.4 6.1 6.6 6.6 -
★★★★★ HDFC Floating Rate Debt . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 44.9 14765 0.5 0.3 8.0 6.7 6.0 6.8 6.96
bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA ★★★★ HDFC Dynamic Debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 81.3 659 0.9 0.7 7.9 5.6 6.4 6.3 -
NAV Corpus 3 Year 5 Year & Below ★★★★ Aditya Birla SL Floating Rate . . . . . . . . . . . . . . . .. . . . . . 314.2 11705 0.5 0.2 7.7 6.6 5.9 6.6 -
Regular Direct 1 Year 2 Year ★★★★ SBI Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 32.3 3023 1.4 0.6 8.6 6.8 5.6 7.4 -
(₹) (₹ Cr) CAGR CAGR CAGR CAGR (%) ★★★ ICICI Pru Floating Interest . . . . . . . . . . . . . . . . . . . . .. . . . . . 383.3 10236 1.3 0.6 8.0 6.9 5.9 6.7 9.11
★★★ Axis Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.6 1726 0.6 0.3 8.2 5.6 5.9 7.3 -
★★★ Nippon Ind Floating Rate . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.6 7844 0.6 0.3 7.8 6.0 5.7 6.9 -
★★★ Bandhan Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.1 2259 1.6 0.8 9.1 5.3 5.3 7.1 -
★★ Franklin Ind Floating Rate . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.6 309 1.0 0.2 7.7 6.4 5.4 5.7 3.27
DEBT FUNDS ★★★ Baroda BNP Paribas Dynamic Bond . .. . . . . . . . 41.4
★★★ DSP Strategic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3050.9
141
903
1.7
1.2
0.7
0.5
7.8
10.4
6.0
6.3
5.3
5.9
5.8
7.1
-
-
★ UTI Floater . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1365.0 1485 0.9 0.4 7.1 5.9 5.1 5.9 -

★★★ Kotak Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.9 2488 1.3 0.5 9.1 5.9 5.8 7.1 -
DEBT - ULTRA SHORT DURATION FUNDS bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino
★★★ Nippon Ind Dynamic Bond . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.4 4549 0.7 0.3 8.3 5.8 5.6 6.6 - NAV Corpus 5 Year 10 Year Ratio
Regular Direct 1 Year 3 Year
★★★ UTI Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.0 508 1.6 0.7 7.6 9.7 10.2 6.5 - (₹) (₹ Cr) CAGR CAGR CAGR CAGR (%)
★★★★★ Nippon Ind Ultra Short Duration . . . . . . . .. . . 3676.6 5478 1.2 0.4 6.9 6.0 6.6 4.9 10.69
★★ HSBC Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.7 168 0.8 0.2 7.7 5.8 5.1 6.1 -
★★★★★ UTI Ultra Short Duration . . . . . . . . . . . . . . . . . . . . . . . .. . . 3871.7 2197 1.0 0.4 7.0 5.9 6.0 5.1 11.23
★★ Mirae Asset Dynamic Bond . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.7 193 1.1 0.2 6.8 4.3 4.0 6.1 -
★★★★ Aditya Birla SL Savings . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 496.5 12705
★★★★ ICICI Pru Ultra Short Term . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.2 13883
0.6
0.8
0.3
0.4
7.4
7.2
6.3
6.1
5.6
5.4
6.2 10.60
6.0 7.97
★★ PGIM India Dynamic Bond . . . . . . . . . . . . . . . . . . . .. . . 2379.5 121 1.6 0.4 7.7 5.5 4.9 6.3 - OVERSEAS FUNDS
★ Canara Robeco Dynamic Bond . . . . . . . . . . .. . . . . . . . 27.0 112 1.8 0.7 7.1 5.3 4.3 5.8 -
★★★★ PGIM India Ultra Short Duration . . . . . . . . .. . . . . . . . 31.2 274 0.9 0.3 6.7 5.8 5.0 6.6 -
★ Union Dynamic Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.2 114 1.5 1.2 7.8 5.0 4.6 6.1 - OVERSEAS FUNDS - GLOBAL
★★★ Axis Ultra Short Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.5 4453 1.1 0.3 6.8 5.7 4.9 5.3 10.64
- Aditya Birla SL Dynamic Bond . . . . . . . . . . . . .. . . . . . . . 28.7 1717 - 0.6 7.8 7.3 6.7 5.8 3.49
★★★ Bandhan Ultra Short Term . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.9 3958 0.5 0.3 7.2 6.1 5.2 5.6 -
- Groww Dynamic Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1345.1 38 1.5 0.5 5.7 4.7 4.6 5.7 - - Aditya Birla SL Global Eme Oppo. . . . . . . .. . . . . . . . 23.4 271 1.1 0.6 27.5 8.6 13.4 5.7 0.29
★★★ BarodaBNPParibasUltraShortDurat .. . . 1403.4 1431 0.5 0.3 7.4 6.4 5.6 5.7 2.29
- JM Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.4 43 1.0 0.6 7.2 5.8 5.3 5.4 - - Aditya Birla SL Interna Equity A. . . . . . . . . . .. . . . . . . . 32.9 198 2.5 2.0 13.6 5.8 9.8 7.9 0.19
★★★ HDFC Ultra Short Term . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.8 12661 0.7 0.4 7.2 6.1 5.3 5.8 -
- Mahi Manu Dynamic Bond . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.9 66 1.6 0.4 7.3 4.8 3.8 4.5 7.59 - ICICI Pru Global Stable Eq (FOF) . . . . . . . . .. . . . . . . . 24.4 119 1.5 0.8 14.8 9.2 10.3 9.0 0.21
★★★ Invesco India Ultra Short Duration . . . .. . . 2460.5 630 0.9 0.2 7.2 5.9 5.0 5.3 8.09
- Quantum Dynamic Bond. . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.3 97 1.0 0.5 8.9 7.0 6.2 7.2 - - PGIM India Global Equity Opport . . . . . . .. . . . . . . . 39.3 1439 2.4 1.4 45.5 5.3 16.9 9.4 0.32
★★★ Kotak Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.1 12814 0.8 0.4 7.0 6.0 5.2 5.6 2.44
★★★ SBI Magnum Ultra Short Duration. . . . . .. . . 5440.6 9213 0.5 0.3 7.2 6.1 5.3 5.7 - - Sundaram Global Brand . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.3 119 2.3 1.3 28.1 10.5 12.8 7.8 0.28

★★ BOI Ultra Short Duration . . . . . . . . . . . . . . . . . . . . . . .. . . 2900.9 144 1.2 0.8 6.4 5.6 4.9 5.2 - OVERSEAS FUNDS - EMERGING MARKETS
★★ Canara Robeco Ultra Short Term . . . . . . . .. . . 3481.6 543 1.0 0.4 6.6 5.5 4.6 4.8 - DEBT - CORPORATE BOND FUNDS
★★ DSP Ultra Short . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3113.3 2771 1.0 0.3 6.9 5.8 4.9 5.1 - - Edelweiss EM Opport Eq Offshore . . . . . .. . . . . . . . 14.5 116 2.2 1.3 10.1 -6.7 3.0 - 0.01
★★★★★ ICICI Pru Corporate Bond . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.9 26051 0.6 0.3 7.9 6.7 6.1 7.2 -
★ Motilal Oswal Ultra Short Term . . . . . . . . . . .. . . . . . . . 15.3 166 1.1 0.6 6.1 5.1 4.2 4.4 - - Edelweiss Gr China Eq Off-Shore . . . . . . . .. . . . . . . . 33.0 1236 2.4 1.5 -10.7 -14.3 4.3 7.0 0.07
★★★★★ Nippon Ind Corporate Bond . . . . . . . . . . . . . . . . .. . . . . . . . 53.8 2613 0.7 0.3 8.0 6.3 6.1 6.7 -
★ Sundaram Ultra Short Duration . . . . . . . . . .. . . 2474.6 1839 1.4 0.2 6.3 5.3 4.4 4.6 - - HSBC Global EM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 17.2 28 2.4 1.6 9.6 -5.5 4.4 5.2 0.04
- Aditya Birla SL Savings . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 286.0 12705 0.3 0.3 https://play.google.com/store/apps/details?id=com.sdnews.epapers
7.4 6.2 5.5 6.3 10.60
★★★★ Aditya Birla SL Corporate Bond. . . . . . . . . . .. . . . . . 101.4 21535
★★★★ Axis Corporate Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 15.4 5242
0.5
0.9
0.3
0.3
7.9
7.5
6.3
5.8
6.0
5.5
7.3
6.3
-
-
- Kotak Global Emerging Market . . . . . . . . . . .. . . . . . . . 21.4 94 1.7 1.3 14.9 -2.6 7.3 4.5 0.15
- Nippon Ind ETF Hang Seng BeES . . . . . . . .. . . . . . 245.8 462 0.9 - -11.4 -10.8 -4.8 2.8 -0.20
★★★★ HDFC Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.2 28269 0.6 0.4 8.1 6.0 5.8 7.2 -
★★★ Bandhan Corporate Bond . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 17.3 13744 0.6 0.3 7.0 5.1 5.2 6.4 - OVERSEAS FUNDS - US FOCUSED
DEBT - LOW DURATION FUNDS
★★★ Franklin Ind Corporate Debt. . . . . . . . . . . . . . . . .. . . . . . . . 88.8 739 0.8 0.3 6.8 5.3 5.1 6.2 -
★★★ HSBC Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 65.9 6175 0.6 0.3 7.7 5.3 5.6 7.5 - - DSP US Flexible Equity . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 51.9 860 2.3 1.5 29.7 12.1 16.3 13.2 0.36
★★★★★ ICICI Pru Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 491.6 17855 0.5 0.4 7.9 6.8 5.8 6.6 4.20
★★★ Kotak Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3388.4 11423 0.7 0.3 7.6 5.9 5.6 6.6 - - Edelweiss US Value Eq Offshore. . . . . . . . . .. . . . . . . . 28.6 97 2.3 1.4 20.2 11.1 13.1 10.3 0.22
★★★★★ UTI Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3213.4 3151 0.5 0.4 7.4 6.2 7.2 4.6 2.38
★★★ PGIM India Corporate Bond. . . . . . . . . . . . . . . . . .. . . . . . . . 39.0 107 1.0 0.3 7.0 5.3 5.2 6.4 - - Franklin In Fdr - Franklin US Opp . . . . . . . .. . . . . . . . 63.0 3568 1.5 0.5 45.6 8.4 16.0 13.6 0.30
★★★★ Aditya Birla SL Low Duration. . . . . . . . . . . . . . . .. . . . . . 598.6 12058 1.2 0.4 6.9 5.9 5.2 6.0 7.79
★★★ Sundaram Corporate Bond . . . . . . . . . . . . . . . . . .. . . . . . . . 36.2 779 0.5 0.3 6.7 5.4 5.2 6.9 - - ICICI Pru US Bluechip Equity . . . . . . . . . . . . . . . .. . . . . . . . 57.7 3054 2.0 1.1 25.2 12.3 16.5 14.0 0.35
★★★★ Axis Treasury Advantage . . . . . . . . . . . . . . . . . . . . . . .. . . 2803.9 4760 0.6 0.3 7.3 6.1 5.4 6.2 4.52
★★★ UTI Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.8 3485 0.6 0.3 7.5 5.7 5.4 7.1 - - Motilal Oswal Nasdaq 100 ETF . . . . . . . . . . . .. . . . . . 144.1 7435 0.6 - 46.4 16.1 24.1 20.5 0.51
★★★★ HDFC Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 52.5 15464 1.0 0.5 7.3 6.0 5.4 6.1 6.73
★★ Canara Robeco Corporate Bond . . . . . . . . .. . . . . . . . 19.8 149 1.0 0.4 6.6 5.0 4.7 6.0 -
★★★★ Nippon Ind Low Duration . . . . . . . . . . . . . . . . . . . . . .. . . 3402.5 5960 0.9 0.4 7.1 5.8 5.3 5.8 6.42
★★ DSP Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.4 2591 0.5 0.3 7.4 4.8 4.4 6.2 - bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino
★★★ Bandhan Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 35.1 5284 0.6 0.3 7.1 5.9 5.2 5.9 -
NAV Corpus 5 Year 10 Year Ratio
★★ Invesco India Corporate Bond . . . . . . . . . . . . .. . . 2859.2 2983 0.7 0.3 7.4 5.4 5.1 6.6 - Regular Direct 1 Year 3 Year
★★★ Canara Robeco Savings . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 38.3 874 0.6 0.3 7.2 5.9 5.1 5.6 - (₹) (₹ Cr) CAGR CAGR CAGR CAGR (%)
★ Baroda BNP Pari Corporate Bond . . . . . .. . . . . . . . 24.7 144 0.6 0.2 8.0 5.2 4.6 4.2 -
★★★ DSP Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.0 4284 0.6 0.3 7.1 5.9 5.2 5.9 -
★ Union Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.7 452 0.7 0.4 7.1 5.0 5.0 5.3 -
★★★ HSBC Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.7 477 0.6 0.3 7.4 6.0 5.2 5.2 9.64
★★★ Invesco India Low Duration . . . . . . . . . . . . . . . . . .. . . 3438.0 1182 0.6 0.3 7.3 5.9 5.2 6.0 2.12 SOLUTION ORIENTED FUNDS
★★★ Kotak Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3040.5 8587 1.2 0.4 6.9 5.7 5.1 6.0 5.93 DEBT - CREDIT RISK FUNDS
★★★ SBI Magnum Low Duration . . . . . . . . . . . . . . . . . . .. . . 3180.1 10088 1.0 0.4 7.1 5.8 5.0 5.7 5.24
SOLUTION ORIENTED - CHILDREN'S FUNDS
★★★ Tata Treasury Advantage . . . . . . . . . . . . . . . . . . . . . . .. . . 3571.8 2512 0.6 0.3 7.1 5.9 5.3 4.8 - ★★★★★ Baroda BNP Paribas Credit Risk. . . . . . . . . .. . . . . . . . 19.9 163 1.6 0.8 7.6 6.2 10.2 7.0 69.06
★★ Baroda BNP Paribas Low Duration . . . .. . . . . . . . 36.6 256 1.1 0.4 6.9 5.6 5.0 5.6 7.76 ★★★★★ DSP Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.6 195 1.2 0.4 16.3 13.1 9.4 7.2 80.77 - Axis Children's Gift . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.7 791 2.4 0.9 17.0 7.9 11.0 - 0.26
★★ LIC MF Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.1 1257 1.0 0.3 6.8 5.6 4.9 4.9 2.21 ★★★★ Aditya Birla SL Credit Risk . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.7 986 1.6 0.7 7.3 7.5 7.0 6.5 49.79 - HDFC Children's Gift. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 251.1 8452 1.8 0.9 27.0 17.2 15.8 15.6 0.40
★★ Mahi Manu Low Duration . . . . . . . . . . . . . . . . . . . . . .. . . 1490.1 521 1.1 0.3 6.9 5.6 4.9 5.5 11.26 ★★★★ ICICI Pru Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.6 7250 1.6 0.9 8.9 6.8 6.8 7.7 56.15 - ICICI Pru Child Care (Gift Plan). . . . . . . . . . . . .. . . . . . 270.2 1188 2.2 1.4 40.7 17.2 14.2 14.8 0.35
★★ Mirae Asset Low Duration . . . . . . . . . . . . . . . . . . . . . .. . . 2054.1 463 0.9 0.3 6.9 5.7 4.9 5.2 5.41 ★★★ Axis Credit Risk. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.3 472 1.6 0.8 7.3 5.9 5.9 5.9 55.11 - LIC MF Children's Gift . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.1 15 2.5 1.9 29.6 11.0 11.7 9.9 0.28
★ JM Low Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.7 249 0.8 0.4 6.8 5.7 5.0 5.0 4.00 ★★★ HDFC Credit Risk Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.7 8191 1.6 1.0 7.8 5.9 6.3 7.5 52.70 - SBI Mag Children's Benefit - Sav . . . . . . . . .. . . . . . . . 92.9 108 1.2 0.8 19.2 12.1 10.5 12.9 0.52
★ Sundaram Low Duration . . . . . . . . . . . . . . . . . . . . . . .. . . 3151.8 390 0.9 0.3 6.7 5.7 5.0 1.5 4.84 ★★★ HSBC Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.1 570 1.7 0.9 6.6 5.3 5.6 4.5 61.66 - Tata Young Citizens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 53.4 332 2.6 2.2 33.4 16.1 16.3 13.0 0.36
★★★ Invesco India Credit Risk . . . . . . . . . . . . . . . . . . . . . . .. . . 1719.8 137 1.5 0.3 12.1 7.5 6.3 5.4 44.90 - UTI CCF- Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 71.6 946 2.3 1.2 30.4 12.6 14.0 14.5 0.29
★★★ Nippon Ind Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.3 1031 1.6 0.8 8.3 6.3 8.5 4.0 56.77 - UTI CCF- Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 35.4 4357 1.7 1.5 16.6 9.7 9.0 10.3 0.28
DEBT - MONEY MARKET FUNDS ★★★ SBI Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 41.0 2557 1.6 0.9 8.8 6.7 6.4 6.7 58.88
★★ Bandhan Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.9 367 1.7 0.7 6.4 5.0 5.0 5.8 62.23 SOLUTION ORIENTED - RETIREMENT FUNDS
★★★★★ Aditya Birla SL Money Manager. . . . . . . . . . .. . . . . . 335.6 19231 0.3 0.2 7.7 6.5 5.7 6.1 -
★★ Bank of India Credit Risk . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 11.4 142 1.5 1.2 6.8 56.9 41.6 -2.9 49.80
★★★★★ Nippon Ind Money Market. . . . . . . . . . . . . . . . . . . . .. . . 3763.4 13165 0.4 0.3 7.6 6.6 5.7 6.0 -
★ Kotak Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.8 861 1.7 0.8 8.5 4.5 5.0 5.8 65.36 - Franklin Ind Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 192.4 497 2.3 1.5 18.4 8.8 8.9 10.2 0.34
★★★★ HDFC Money Market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 5187.0 17645 0.4 0.2 7.5 6.4 5.6 6.0 -
★ UTI Credit Risk. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 15.4 406 1.7 0.9 7.0 5.7 10.9 -1.5 61.67 - HDFC Retirement Savings - Equity . . . . .. . . . . . . . 42.9 4705 1.8 0.7 38.9 23.9 20.4 - 0.45
★★★★ Tata Money Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4282.4 16515 0.4 0.2 7.6 6.5 5.7 6.0 -
★★★★ UTI Money Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2795.0 13070 0.3 0.2 7.6 6.6 5.7 6.0 - - HDFC Retire Savings-Hybrid-Debt . . . . .. . . . . . . . 19.4 155 2.1 0.9 13.5 8.2 8.3 - 0.54

★★★ DSP Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 48.0 4331 0.4 0.2 7.4 6.0 5.3 5.6 - DEBT - BANKING AND PSU FUNDS - HDFC Retire Savings Hybrid Eq . . . . . . . . . . .. . . . . . . . 33.6 1338 2.1 1.0 29.2 15.8 15.1 - 0.39

★★★ Franklin Ind Money Market . . . . . . . . . . . . . . . . . . .. . . . . . . . 45.5 1567 0.3 0.1 7.5 6.3 5.4 5.9 - - LIC MF Unit Linked Insurance. . . . . . . . . . . . . . .. . . . . . . . 31.5 481 2.5 1.6 22.6 11.8 11.7 10.9 0.27

★★★ ICICI Pru Money Market . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 344.1 15531 0.3 0.2 7.6 6.5 5.6 5.9 - ★★★★★ ICICI Pru Banking & PSU Debt . . . . . . . . . . . . . .. . . . . . . . 29.6 8699 0.7 0.4 7.8 6.6 6.0 7.0 - - Nippon Ind Retire-Income Gene . . . . . . . . .. . . . . . . . 18.3 167 2.1 1.3 14.4 7.1 7.8 - 0.46

★★★ Kotak Money Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4073.9 16489 0.4 0.2 7.6 6.5 5.6 5.9 - ★★★★★ Kotak Banking and PSU Debt . . . . . . . . . . . . . .. . . . . . . . 59.0 5951 0.8 0.4 7.5 5.9 5.8 7.0 2.32 - Nippon Ind Retire-Wealth Cre. . . . . . . . . . . . . .. . . . . . . . 24.3 2991 2.0 1.1 42.8 18.2 12.8 - 0.25

★★★ Sundaram Money Market . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.6 127 0.3 0.3 7.3 6.3 5.3 5.6 - ★★★★ Aditya Birla SL Bank & PSU Debt . . . . . . . . .. . . . . . 330.7 9737 0.7 0.4 7.4 5.8 5.6 6.9 - - Tata Retirement Savings Con. . . . . . . . . . . . . . .. . . . . . . . 28.2 167 2.2 1.0 13.9 6.4 7.5 9.0 0.35

★★ HSBC Money Market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.0 1203 0.6 0.3 7.2 5.9 5.0 5.5 - ★★★★ Edelweiss Banking and PSU Debt . . . . . .. . . . . . . . 22.2 296 0.7 0.4 7.8 5.5 6.0 7.7 - - Tata Retirement Savings Moderate . . .. . . . . . . . 53.2 1896 2.0 0.6 29.9 12.2 12.3 15.6 0.30

★★ Invesco India Money Market. . . . . . . . . . . . . . . . .. . . 2772.9 3382 0.5 0.2 7.3 5.9 5.2 5.4 - ★★★★ HDFC Banking and PSU Debt . . . . . . . . . . . . . . .. . . . . . . . 20.8 6068 0.8 0.4 7.5 5.7 5.5 6.8 - - Tata Retirement Savings Progre . . . . . . . . .. . . . . . . . 53.7 1723 2.1 0.6 35.1 12.9 13.4 15.8 0.30

★★ SBI Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.8 19357 0.8 0.3 7.1 6.0 5.1 5.6 - ★★★ Axis Banking & PSU Debt . . . . . . . . . . . . . . . . . . . . . . .. . . 2379.4 13930 0.6 0.3 7.0 5.6 5.1 6.5 - - UTI Retirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.0 4309 1.7 1.0 21.0 12.6 10.4 10.5 0.37

★ Bandhan Money Manager . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.7 4327 1.0 0.2 6.9 5.7 4.9 5.1 - ★★★ Bandhan Banking & PSU Debt . . . . . . . . . . . . .. . . . . . . . 22.3 14375 0.6 0.3 7.1 5.6 5.2 6.9 -
★ Edelweiss Money Market . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.0 343 1.0 0.4 6.7 5.4 4.6 5.9 - ★★★ DSP Banking & PSU Debt . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.7 2365 0.6 0.3 7.7 5.7 5.3 6.7 - Source : ACE MF. NAV for the growth option as on 15-03-2024. Returns for regular plans considered.

DEBT - SHORT DURATION FUNDS

★★★★★ ICICI Pru Short Term. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 54.2 18987

★★★★★ UTI Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.7
★★★★ Aditya Birla SL Short Term . . . . . . . . . . . . . . . . . . . .. . . . . . . . 42.9
2503
7275
1.1
1.0
0.9
0.5
0.3
0.3
7.8
7.7
7.4
6.7
6.0
6.1
6.0
7.2
5.7
7.2 10.98
5.1
6.9
4.59
6.76
Our Ratings Our rating is based on the historical
performance of funds (regular plans)
measured both in terms of return
within each category, from 5-star to
1-star, with 5-star being the best
rating. Ratings for all funds now are
(passive) and exposure to ‘AA &
below’ rated instruments (debt, cash
categories) are also added. While the
★★★★ Axis Short Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.8
★★★★ HDFC Short Term Debt . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.8 14612
★★★ Bandhan Bond - Short Term. . . . . . . . . . . . . . . . .. . . . . . . . 51.4
8278

8537
0.9
0.7
0.8
0.3
0.4
0.3
7.3
7.8
7.2
5.8
6.0
5.3
5.4
5.7
5.1
6.7
7.0
6.3
1.38
7.41
-
Methodology (rolling return) and risk (sortino
ratio).
Rolling returns help identify
based on data as on December 31,
2023.
ratings will be revised only at fixed
intervals, returns data shown here are
updated weekly. For other metrics, the
schemes that have delivered relatively ADDITIONS latest available data is considered.
★★★ Baroda BNP Paribas Short Duration .. . . . . . . . 26.4 226 1.1 0.4 7.5 5.5 5.2 6.0 4.39
consistent returns during various We have newly introduced Passive,
★★★ DSP Short Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 42.1 2984 1.0 0.3 7.2 5.3 4.9 6.1 -
market cycles and over the long run. Cash and Overseas categories. Under RATINGS EXCLUSIONS
★★★ Kotak Bond Short Term . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 47.1 14738 1.2 0.4 7.2 5.3 5.1 6.3 - We have considered one-, three- and international funds, we have Funds with a corpus of less than ₹100
★★★ Nippon Ind Short Term. . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 47.5 5986 0.9 0.4 7.6 5.5 5.5 6.6 3.09 five-year rolling returns for a total of showcased select global funds under crore, those that have less than a
★★★ SBI Short Term Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.0 12797 0.9 0.4 7.2 5.6 5.2 6.3 4.29 seven-year NAV history for equity and three sub-groups — US-focused, seven-year or five-year NAV history,
★★★ Sundaram Short Duration . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.9 191 0.8 0.3 7.3 5.7 5.4 4.3 - hybrid funds. For debt-oriented funds, emerging markets and global. Under categories that have less than five
★★ HSBC Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.9 3554 0.8 0.3 7.0 5.1 4.8 6.1 - we have considered one-, two- and the passive category, we have funds, and schemes that have
★★ Mirae Asset Short Duration . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.2 343 1.2 0.3 6.9 5.2 4.9 5.9 2.92 three-year rolling returns for a total of cherry-picked funds based on metrics undergone a drastic change in their
★★ Tata Short Term Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.5 2325 1.2 0.3 6.9 5.4 4.9 6.1 - five-year NAV history. Sortino ratio such as relatively-low tracking error, mandate and portfolio (including
★ Canara Robeco Short Duration . . . . . . . . . . .. . . . . . . . 23.1 408 1.0 0.5 6.7 5.0 4.6 5.8 - measures the performance of the higher trading volumes in ETFs (to multi-cap category) are not rated.
★ Invesco India Short Duration . . . . . . . . . . . . . . .. . . 3223.8 468 1.2 0.4 7.2 5.1 4.8 6.0 - schemes during downtrends, thus ensure enough liquidity) and higher Retirement funds, children’s funds
- Bank of India Short Term Income . . . . . . .. . . . . . . . 23.9 82 1.1 0.5 6.4 16.5 12.0 3.5 - capturing the downside risk. One-year AUMs. and overseas funds are also not rated
- Franklin Ind Short Term Income . . . . . . . . .. . . 5149.4 13 0.0 0.0 4.7 7.8 9.3 5.3 - trailing return is also considered to Expense ratio for both direct and as the investment styles of funds
- Groww Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1891.6 38 1.6 0.4 5.6 4.3 3.9 4.2 - assess the fund’s recent performance. regular plans are disclosed now. For within each of these categories are not
To arrive at the final score, we have equity, passive, overseas and homogeneous. Passive funds cannot
assigned a 60 per cent weightage for solution-fund categories, 10-year be rated based on return metrics and
DEBT - MEDIUM DURATION FUNDS past performance based on rolling returns have been brought in to give hence excluded. Since liquid,
returns. Sortino ratio and one-year long-term investors, a perspective. overnight and arbitrage funds are
★★★★★ Aditya Birla SL Medium Term . . . . . . . . . . . . . . .. . . . . . . . 34.2 1887 1.6 0.9 7.3 14.1 12.6 8.6 28.02 performance is given a 30 per cent and Three new metrics for all funds — predominantly short-term parking
★★★★ Axis Strategic Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.1 1977 1.1 0.4 8.1 6.2 6.2 6.8 30.58 10 per cent weightage respectively. sortino ratio (equity, solution, grounds for cash, we haven’t rated
★★★★ ICICI Pru Medium Term Bond . . . . . . . . . . . . . . .. . . . . . . . 40.2 6408 1.4 0.7 7.6 6.2 6.1 7.3 36.38 The final score is used to rate funds overseas categories), tracking error these as well.
★★★ HDFC Medium Term Debt . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 50.8 4198 1.3 0.6 7.7 5.5 5.7 6.8 18.49

CM
YK ... .. . . . . .ND-NDE
 12 . bl . News
India commits to step up support
for Bhutan’s 13th Five Year Plan
GOOD NEIGHBOUR. PM Modi says will consider Bhutanese PM Tobgay’s request for help with stimulus plan
Our Bureau
New Delhi
India is committed to increasing
support for Bhutan’s 13th Five Year
Plan and will also consider Thim-
phu’s request to assist in its ‘eco-
nomic stimulus programme’, ac-
cording to the joint statement by
both nations on the visit of Bhu-
tanese Prime Minister Dasho Tsher-
ing Tobgay to India.
“India’s assistance will be geared
towards the development of infra-
structure, building connectivity in
its broadest form which includes
road, rail, air and digital connectiv-
ity, and in sectors like agriculture,
healthcare, education, skilling and
cultural preservation,” the joint
statement issued on Saturday noted.
Tobgay is on an official visit to In-
dia from March 14-18, with his wife
Navneet Kumar Sehgal is
e2213679
new Prasar Bharati chief
Meenakshi Verma Ambwani
New Delhi
Navneet Kumar Sehgal, a re-
tired bureaucrat, has been ap-
pointed the new Chairman of
Prasar Bharati. An Informa-
tion & Broadcasting Ministry
order said Sehgal’s term will
be for three years or until he
reaches the age of 70,
whichever is earlier.
The order said, “The terms
of his appointment shall be
governed by the Prasar Bhar-
ati (Broadcasting Corpora-
tion of India) Act, 1990.”
The chairperson’s post has
been vacant since A Surya
Prakash reached the mandat-
ory retirement age of 70 in
February 2020.
Vice-President Jagdeep
Dhankhar chaired a meeting
SEBI gives nod for beta version of T+0 settlement French envoy seeks Steel Ministry help
Our Bureau
Mumbai
The Securities and Ex-
change Board of India has
cleared the launch of a beta
version of optional T+0 set-
tlement for 25 scrips with a
limited set of brokers.
Late on Friday, the SEBI
board also approved a pro-
posal to exempt additional
disclosure requirements
for FPIs having more than
50 per cent of their India
equity AUM in a single cor-
porate group if the concen-
trated holdings of the FPIs
are in a listed company
with no identified pro-
moter. The composite
holdings of all such FPIs in
Maintaining good physical and mental health
paramount for women: Justice S Srimathy
Our Bureau
Chennai
Women bring in a unique
blend of empathic leadership,
strategic vision and fostering
an inclusive workplace where
diverse voices are heard and
valued ultimately driving in-
novation and organisational
success. The same can be
achieved with supporting
family, righteousness, special-
isation of the field, collective
voice, avoiding unnecessary
fights and saving energy. How-
ever, paramount is good phys-
ical and mental health, said
Justice S Srimathy of the
Madras High Court.
“When we devote our time
to the profession 24/7, the im-
pact would be on our health.
As a judge, we have to work
24/7 and our mobility is lim-
ited and the impact on our
health is more. We women ig-
nore health, symptoms of
health and end up having
health issues. Good physical
health leads to good mental
health,” Srimathy said in her
address at ‘Level Up! MMA
Published by Nirmala Lakshman and Printed by S. Ramanujam at HT Media Ltd. Plot No. 8, Udyog Vihar, Greater Noida Distt. Gautam Budh Nagar, U.P. 201306, on behalf of THG PUBLISHING PVT LTD., Chennai-600002. Editor: Raghuvir Srinivasan (Editor responsible for selection of news under the PRB Act).
CM
YK
CLOSE COOPERATION. Prime Minister Narendra Modi with his Bhutanese
counterpart Dasho Tshering Tobgay in New Delhi PTI
Tashi Doma, at the invitation of
Prime Minister Narendra Modi. This
is the Bhutanese PM’s first overseas
visit after assuming office in January.
INVITE TO MODI
On behalf of the King of Bhutan, To-
bgay invited Modi to Bhutan at an
Navneet Kumar Sehgal
on Friday to appoint the
Prasar Bharati chief.
An IAS officer of the 1988
batch from the UP cadre, Se-
hgal is known for playing a
significant role in UP’s global
investor summit. During his
stint as UP’s Additional Chief
Secretary of Sports and
Youth Afifairs, Noida hosted
the first edition of MotoGP in
India last year.
https://play.google.com/store/apps/details?id=com.sdnews.epapers
the company with no iden-
tified promoter should be
less than 3 per cent of its
total equity share capital.
The timeline for disclos-
ure of material changes by
FPIs has been relaxed. FPI
registrations that expire
due to non-payment of re-
gistration fee will now be
( from left) K Mahalingam, President, Madras Management Association; Nirmala Lakshman,
Chairperson, The Hindu Group; Justice S Srimathy of the Madras High Court, and Mridula Ramesh,
Chairperson, MMA Women Manager's Convention 2024, in Chennai on Saturday BIJOY GHOSH
Managers’ Convention 2024’
on Saturday.
businessline was the media
partner for the event.
BHARATIYA YOGA
Bharatiya Yoga explains the
five bodies of consciousness
as Annamaya (physical body),
Pranamaya (life force), Man-
onmaya (emotional), Vigy-
anamaya(wisdom) and Anan-
damaya (bliss). Maintaining
physical and mental health is
paramount for any ‘Level Up’,
early date, which the PM accepted.
Modi said that India remained
committed to partnering with
Bhutan in its quest to become a high-
income nation. Bhutan hopes to
transform itself into a high-income
nation by 2034 and its 13th Five Year
Plan, which starts this year, will fo-
J&K Assembly elections after Lok Sabha polls: CEC
Prabhudatta Mishra
Rishi Ranjan Kala
New Delhi
The much-awaited elec-
tions for the Jammu &
Kashmir Assembly will be
held after the Election
Commission of India
(ECI) conducts the Lok
Sabha polls, scheduled to
end in June, said Chief NO SIMULTANEOUS POLLS. Chief Election Commissioner Rajiv Kumar and Election
Election Commissioner Commissioners Gyanesh Kumar and SS Sandhu during a press conference in New Delhi. REUTERS
(CEC) Rajiv Kumar on
Saturday.
“We are very conscious ECI to hold elections. We
about this. Allegations
have been levelled against are not holding elections. I (PoK). Of the remaining
us (for not holding As-
sembly elections).
ECI CLARIFICATION
“When we went there,
people told us that they
had to go to the Supreme
Court to impress on the
permitted to be reactivated
within 30 days from such
expiry. If the FPI chooses
not to re-activate its regis-
tration within 30 days, it
shall be given 180 days for
disposal of its securities.
Securities remaining un-
sold after 360 days will be
deemed to have been com-
pulsorily written-off and
will be transferred to an es-
crow account.
IPO NORMS EASED
SEBI has eased norms for
companies tapping the
market for an IPO. Pro-
moter group entities and
non-individual sharehold-
ers holding more than five
per cent of the post-offer
equity share capital will be
she said. “Rural and urban dis-
tinction is there. We have to
concentrate to level up; eco-
friendly should be the other
motto and the latest is narcot-
ics, which is spoiling the entire
society. Each one of us has a
role to contribute. I am not go-
ing to say how to tackle it, but
would only say that it should
start from the family,”
Srimathy said.
The first ‘Level Up’ for any
woman would be the family.
Law profession is dominated
DELHI
businessline.portfolio
SUNDAY - MARCH 17 - 2024
Over 1 crore homes have signed
up for solar power plan: PM Modi
Our Bureau
New Delhi
Last month, the govern-
ment approved the PM-
Surya Ghar: Muft Bijli
Yojana with a total outlay of
Prime Minister Narendra ₹75,021 crore for installing
cus on staying on path to achieve the Modi on Saturday said that rooftop solar (RTS) sys-
goal. “Prime Minister Modi reiter- more than one crore house- tems and providing free
ated India’s commitment to step up holds have registered for electricity of up to 300
support for Bhutan’s 13th FYP in- the PM Surya Ghar Yojana, units every month for one
cluding to consider request for the which aims to provide free crore low-income
economic stimulus programme,” the solar power to low-income households.
statement highlighted. families.
Tobgay recently announced an “Outstanding news! In ASSISTANCE PLAN
ambitious ₹15-billion programme to about a month since it was PM Narendra Modi The scheme provides a
lift the country’s sagging economy launched, over one crore central financial assistance
and a substantial portion of the stim- households have already re- (CFA) of 60 per cent of the
ulus fund is likely to be allocated to gistered themselves for the ter posted on X (formerly cost for 2 kilowatt (kW)
support the revival and growth of the PM-Surya Ghar: Muft Bijli Twitter). systems and 40 per cent of
private sector Yojana. Registrations have additional system cost for
Both Prime Ministers agreed to been pouring in from all LOWER POWER BILL systems between 2-3 kW
expand the existing India-Bhutan parts of the nation. Assam, This initiative promises capacity. The CFA will be
energy partnership to non-hydro re- Bihar, Gujarat, Maha- substantial reductions in capped at 3 kW, the Min-
newables, such as solar and wind as rashtra, Odisha, Tamil household electricity istry of New and Renewable
well as green initiatives for hydrogen Nadu and Uttar Pradesh spend, along with ensuring Energy (MNRE) said.
and e-mobility, besides energy effi- have seen over five lakh re- energy production. It is set Households can apply for
ciency and conservation measures. gistrations. Those who to encourage Lifestyle for subsidy through the portal
The two sides reaffirmed the signi- haven’t registered yet Environment (LiFE) on a and also select a vendor for
ficance of cooperating closely in the should also do so at the grand scale, contributing to installing the rooftop solar
energy sector. earliest,” the Prime Minis- a better planet, he added. systems.
‘INDI Alliance
e2213679
offering good
ganisation and Delimita- entertainment’
tion Act were not in-sync,
there was no occasion for
the Commission to con- M Ramesh
duct elections. The sync Our Bureau
happened in December
2023 by amending the Re-
organisation Act,” he
added.
All political parties in
J&K told the ECI to hold
the Lok Sabha and As-
sembly elections at the
same time. However, the
administrative machinery FM Nirmala Sitharaman speaking at
said that simultaneous a function in Chennai BIJOY GHOSH
seats reserved for number of Assembly seats elections cannot be held
have been asked why we Pakistan-occupied J&K increased to 114. Of these, as the security forces will During these hard times of
24 were again for PoK and not be adequate to provide elections, which will be held in
want to clarify this,” Ku- 83 seats, seven were re- of the remaining, nine are security to the candidates the heat of summer, the INDI
mar said in response to a served for SC and none reserved for STs. Besides, for both polls, Kumar Alliance is a good source of en-
question. for STs. two seats have been re- explained. tertainment, says Finance
Kumar said the Jammu served for migrants, of “So as soon as the Lok Minister Nirmala Sitharaman.
and Kashmir Reorganisa- DELIMITATION which one is for a woman. Sabha elections are over, Speaking at a function or-
tion Act was passed in “In 2022, the Delimitation One seat will be nomin- we will hold the Assembly ganised by a private YouTube
2019, which mandated 107 Commission came and its ated for those displaced elections in J&K,” the channel, Sitharaman said that
Assembly seats with 24 reports were notified. The from PoK. Since the Reor- CEC said. the Opposition has the singu-
lar agenda of ‘removing Modi’.
Instead, they could come up
with a constructive narrative,
telling people what they in-
tend to do to make India a
superpower.
The function was held on
permitted to contribute to-
wards minimum pro-
to resolve 14-year Air Liquide-RINL row the occasion of Chanakya TV
completing five years.
moters’ contribution “Whom we vote to power
consumption” of RINL. Air carry out directions given to
without being identified as Abhishek Law Liquide, in a letter to the it by the Tribunal, which in- this time will determine
a promoter. New Delhi French Embassy (copy with cluded doing performance whether India will become a
The increase or decrease businessline) in January, tests, health checks on all developed country or not,” she
in size of offer for sale re- The Ambassador of France to claimed it had installed the equipment, and refurbishing said, observing that those un-
quiring fresh filing will be India, Thierry Mathou, has cryogenic air-separation unit and replacing some. dertaking a ‘Nyay Yatra’ never
based on only one of the written to Union Steel Minis- to meet the need for indus- Covid and the delayed explained what injustice had
criteria — either issue size ter Jyotiraditya Scindia, seek- trial gases required for metal commissioning of the third been done to anybody.
in rupees or number of ing a resolution to a nearly production through blast fur- blast furnace delayed opera- Turning to Tamil Nadu, she
shares, as disclosed in the 14-year dispute between the naces. tionalising the air-separation said it was “cowardice” not to
draft offer document. Indian arm of a French indus- However, commissioning unit. express outrage against state-
Market capitalisation trial gas company, Air Li- was not carried out on failure Alternatively, Air Liquide ments equating Sanatana
based compliance require- quide India Holdings, and to resolve differences. Since has offered a “mutual settle- Dharma with dengue and mal-
ments for listed entities is CPSU Rashtriya Ispat Nigam the contract was terminated ment” proposal which, ac- aria.
to be determined on the Ltd (RINL). in 2014, it was ultimately re- cording to an official of the Sharing the stage with the
basis of average market The dispute pertains to a ferred to an arbitration Steel Ministry, is yet to be ac- Finance Minister were two
capitalisation of six 2010 supply contract that the tribunal. cepted by the RINL board. BJP partners in Tamil Nadu,
months ending December CPSU had entered with Air The settlement talks of GK Vasan of the Tamil Maanila
31, instead of single day’s Liquide for the “supply of MUTUAL SETTLEMENT takeover terms (of the unit by Congress and TTV Dh-
(March 31) market oxygen, nitrogen gases, and The French company RINL) so as to enable revival inakaran of the Amma Makkal
capitalisation. liquid primarily for captive claimed that it continued to of the third blast furnace. Munnetra Kazhagam.
Zee shareholders
clear appointment
Telangana CM slams
of 3 independent ED, calls Kavitha’s
directors
arrest a ‘cheap tactic’
standing your ground move Press Trust of India
forward in the work that you sues. About his govern-
New Delhi
do not just at home but also at ment’s performance, he
Our Bureau
work place,” she said. Zee Entertainment Enter- Hyderabad said the six poll guaran-
prises (ZEEL) sharehold- tees will be implemented
GENDER BIAS ers have approved the ap- Telangana Chief Minister effectively. His govern-
Levelling Up is not just for wo- pointment of three Revanth Reddy has ment is seeking advise
men but for organisations independent directors. termed the arrest of BRS from civil organisations
also. They have to Level Up to Special resolutions for leader K Kavitha by the on key decisions.
look out for the well being of approval of the appoint- ED as a “cheap political He said that he has
women who work in their of- ment of Uttam Prakash tactic”. been meeting the Prime
fices, whether it is to do with Agarwal, Shishir Babubhai Addressing a press con- Minister and Union Minis-
things like sexual harassment Desai and Venkata Ramana ference in Hyderabad on ters to get Telangana’s due
or much more certain gender Murthy Pinisetti were Saturday, the CM said that share and rights.
bias that is very much in exist- passed with majority by “This is clearly done for Putting to rest all spec-
ence in corporates and offices the shareholders of Zee political gains... Usually, ulation, Reddy said that
across the country, she said. Entertainment Enter- ED comes, and then Modi his government will main-
While there is no outward prises Ltd through postal comes. Yesterday, both of tain cordial relations with
discrimination in terms of the ballot process. them came at the same the Centre and neighbour-
by men, and for women to HR policies, sexism often ex- All three special resolu- time. This is cheap polit- ing States.
reach prominence is difficult. ists in subtle ways. For in- tions received over 75 per ical tactics.”
Women need to put double or stance, there could be a gender cent of the total number of While criticising the
triple their efforts to shine, bias that could be expressed in valid votes, according to previous regime, Reddy businessline.
she added. conversation or there is a lack the consolidated report of said that Kalvakuntla Disclaimer: Readers are requested to
verify & make appropriate enquiries to
Nirmala Lakshman, Chair- of sensitivity in addressing the the scrutiniser, shared by Chandrashekar Rao (KCR) satisfy themselves about the veracity of
an advertisement before responding to
person, The Hindu Group, in domestic situation of women, the company to the stock had plunged the State into any published in this newspaper. THG
her remarks, said despite tech- Lakshman said. It is import- exchange. debt. PUBLISHING PVT LTD., the Publisher &
Owner of this newspaper, does not
nology advancement and ant for gender policies in of- “This outcome of the re- “We are moving for- vouch for the authenticity of any
advertisement or advertiser or for any of
global connectivity, there has fices to recognise how import- mote e-voting process ward by unravelling the the advertiser’s products and/or
not been much progress on ant it is to recast some of these concluded on March 15, riddles of the previous re- services. In no event can the Owner,
Publisher, Printer, Editor, Director/s,
women’s work and its appreci- subtle prejudices and work reflecting the sharehold- gime one by one,” Reddy Employees of this newspaper/company
ation. “Women should have consciously towards over- ers’ confidence in the said, adding that his gov- be held responsible/liable in any manner
whatsoever for any claims and/or
the stubbornness, which will coming this so that women board of the company,” ernment will responsibly damages for advertisements in this
newspaper.
take them a long way, and by feel better at work, she added. ZEEL said. address all unresolved is-
ISSN 0971 - 7528
. . . . . . . . ND-NDE