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2013: Issue 379, Week: 15th - 18th JulyA Weekly Update from SMC(For private circulation only)
WISE M NEY
Bra
nd
sm
c 2
01
®
(Saurabh Jain)
Contents
Equity 4-7
Derivatives 8-9
Commodity 10-13
Currency 14
IPO 15
Fixed Deposit 16
Mutual Fund 17-18
EDITORIAL STAFF
Editor Saurabh Jain
Executive Editor Jagannadham Thunuguntla
+Editorial Team
Dr. R.P. Singh Nitin Murarka
Vandana Bharti Tejas Seth
Sandeep Joon Dinesh Joshi
Vineet Sood Shitij Gandhi
Dhirender Singh Bisht Subhranil Dey
Parminder Chauhan Ajay Lakra
Mudit Goyal
Content Editor Kamla Devi
Graphic Designer Pramod Chhimwal
REGISTERED OFFICES:
11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.
Tel: 91-11-30111000, Fax: 91-11-25754365
MUMBAI OFFICE:
Dheeraj Sagar, 1st Floor, Opp. Goregaon sports Club, Link Road
Malad (West), Mumbai 400064
Tel: 91-22-67341600, Fax: 91-22-28805606
KOLKATA OFFICE:
18,Rabindra Sarani, Poddar Court, Gate No-4, 4th & 5th Floor,
Kolkata-700001
Tel : 91-33-39847000/39801300, Fax No : 91-33-39847004
AHMEDABAD OFFICE :
10/A, 4th Floor, Kalapurnam Building, Near Municipal Market,
C G Road, Ahmedabad-380009, Gujarat
Tel : 91-79-26424801 - 05, 40049801 - 03
CHENNAI OFFICE:
2nd Floor, Mookambika Complex, 4, Lady Desikachari Road,
Mylapore, Chennai-600004
Tel: 91- 44 - 39109100 Fax: 91- 44 - 39109111
SECUNDERABAD OFFICE:
206, 3rd Floor, above CMR Exclusive, Bhuvana Towers, S.D.Road,
Secunderabad - 500003
Tel: 91-40-30780298/99, 39109536
DUBAI OFFICE:
312, Belshalat Building, Al Karama, Dubai, P.O. Box 117210, U.A.E.
Tel: 97143963120, Mobile : 971502612483
Fax : 9714 3963122
Email ID : [email protected]
Printed and Published on behalf of
Mr. Saurabh Jain @ Publication Address
11/6B, Shanti Chamber, Pusa Road, New Delhi-110005
Website: www.smcindiaonline.com
Investor Grievance : [email protected]
Printed at: S&S MARKETING
102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Ph.: +91-11- 43035012, 43035014, Email: [email protected]
lobal equities saw buying on the back of risk reversion after U.S. Federal
Reserve Chairman Ben S. Bernanke indicated that the accommodative Gstance would stay for the foreseeable future. The statement alleviates the
risk that investors perceived over the gradual withdrawal of the liquidity at least for
the time being. Reduction in the oil supply together with economic recovery gaining
momentum in US has strengthened the crude price to fifteen months high. Week
economic data out of China like decline in import and export are suggesting that both
China and world economy is seeing shortage of demand. Chinese equity markets
gained on the optimism that the government would take some measures to boost
growth and may soften its stance on the monetary policy.
Back at home, recently the cabinet has passed an ordinance for food security bill
amounting to Rs 1.25 lakh crore. The step taken by the government looks largely a
political move as the elections are just around the corner. India is already facing
pressure on the revenue (because of lower GDP growth) and together with huge
expenditure on the subsidy may make tough for the government to achieve 4.8% fiscal
deficit. The food security bill if got passed would put huge pressure on the fiscal side
also it would send negative message to the Foreign Institutional Investors feternity.
Inorder to stem the deceleration in rupee, both SEBI and RBI took more measure
recently. Indian stock market is likely to be guided by both global and domestic
factors. On the one side global liquidity would continue to be a major and primary
factor and on the other hand the earning season which started by Infosys would guide
the market.
On the commodities front, lower level buying in the bullion counter may persist
further as decline in greenback and oversold conditions can prompt further short
covering. Movements of local currency rupee need to be closely watched which has
strengthened after hitting above 61 recently. The movement of dollar index will also
be closely watched, which is facing resistance near 84.75 in near term. Middle East
tensions especially in Egypt along with stockpiles will influence the crude oil prices in
near term. Global oil consumption will expand by 1.2 million barrels a day in 2014, up
from a forecast 930,000 this year, according to the IEA. Supplies from outside the
Organization of Petroleum Exporting Countries will increase by 1.3 million barrels a
day amid booming output in North America, reducing the need for shipments from the
producer group. In agro pack, sugar may remain subdued as sugar output this year is
higher than the domestic consumption. Domestic demand and increasing overseas
enquiries may push up jeera prices further.
From The Desk Of Editor
4
NOTES:
1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name of "Morning Mantra ".
2) S1 & S2 indicate first support & second support respectively & R1 & R2 indicate first resistance and second resistance respectively.
3) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the stock. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.
TREND SHEET
Stocks Closing Trend Date Rate S1 R1 S2 R2 Cl.
Price Trend Trend S/l
Changed Changed
SENSEX 19676 DOWN 13.06.13 1827 19400 19700 19900
S&P NIFTY 5935 DOWN 13.06.13 5699 5900 5950 6020
CNX IT 6800 DOWN 17.04.13 6236 6550 6700 6850
CNX BANK 11655 DOWN 13.06.13 11687 12100 12400 12700
ACC 1250 DOWN 17.01.13 1359 1230 1260 1300
BHARTIAIRTEL 300 DOWN 13.06.13 288 300 310 320
BHEL 187 DOWN 01.11.12 227 180 190 195
CIPLA 400 DOWN 30.05.13 383 385 395 405
DLF 178 DOWN 21.03.13 239 195 205 210
HINDALCO 103 DOWN 13.06.13 97 103 105 108
ICICI BANK 1058 DOWN 13.06.13 1069 1110 1140 1160
INFOSYS 2528 DOWN 17.04.13 2284 2450 2550 2600
ITC 353 UP 04.03.11 172 335 325 315
L&T* 1402 DOWN 23.05.13 1418 1460 1480 1500
MARUTI 1505 DOWN 13.06.13 1457 1530 1560 1600
NTPC 144 DOWN 20.06.13 140 149 154 158
ONGC 305 DOWN 13.06.13 309 320 325 330
RELIANCE 870 UP 04.07.13 862 835 815 800
TATASTEEL 261 DOWN 07.02.13 390 290 305 320
NEWS
EX DATE SYMBOL PURPOSE15-JUL-13 JSWSTEEL DIVIDEND - RS.10/- PER EQUITY SHARE15-JUL-13 TATASTEEL DIVIDEND - RS.8/- PER ORDINARY SHARE16-JUL-13 TITAN DIVIDEND RS 2.10/- PER SHARE17-JUL-13 INDHOTEL DIVIDEND RE 0.80/- PER SHARE17-JUL-13 CARBORUNIV FINAL DIVIDEND RE.0.75 PER EQUITY SHARE17-JUL-13 TATACOMM DIVIDEND RS 3/- PER SHARE17-JUL-13 BERGEPAINT DIVIDEND RS.1.80 PER SHARE17-JUL-13 ULTRACEMCO DIVIDEND RS.9/- PER SHARE18-JUL-13 M&M DIVIDEND 12.50/-+SPECIAL DIVIDEND 0.50/-
PER SHARE18-JUL-13 GLENMARK DIVIDEND - RS 2/- PER SHARE18-JUL-13 APOLLOTYRE AGM AND DIVIDEND RE.0.50 PER SHARE18-JUL-13 IDFC DIVIDEND @ RS 2.60/- PER EQUITY SHARE18-JUL-13 ARVIND DIVIDEND RS 1.65/- PER SHARE19-JUL-13 IPCALAB DIVIDEND RS 2/- PER SHARE19-JUL-13 JPASSOCIAT DIVIDEND RE 0.50 PER SHARE
MEETING DATE SYMBOL PURPOSE
15-JUL-13 RIIL RESULTS16-JUL-13 DCB RESULTS16-JUL-13 ASHOKLEY RESULTS17-JUL-13 HDFCBANK RESULTS18-JUL-13 TCS RESULTS/DIVIDEND18-JUL-13 KOTAKBANK RESULTS18-JUL-13 AXISBANK RESULTS18-JUL-13 BAJFINANCE RESULTS19-JUL-13 BAJAJ-AUTO RESULTS19-JUL-13 HEXAWARE RESULTS/DIVIDEND19-JUL-13 HDFC RESULTS19-JUL-13 FEDERALBNK RESULTS
FORTHCOMING EVENTS
DOMESTIC NEWSTelecom• Reliance Communication has completed securitization of proceeds from its
`1,200 crore ($200 million) deal with Reliance Jio. The firm also added that deliveries under the agreement for providing optic fibre network will be completed in the current fiscal.
Automobile• Ashok Leyland plans to enter Australian bus market through its UK
subsidiary Optara. The UK arm has appointed a local dealer and said that initially it will offer two single-deck models and a tempo model to cater urban sector.
• Ashok Leyland will launch the passenger carrier version of its small commercial vehicle 'Dost' in the current fiscal year.
Engineering• BGR Energy Systems Ltd has bagged the balance of plant (BoP) contract
valued at `1,573 crore from Odisha Power Generation Corporation Ltd (OPGC) for its expansion project wherein the state owned generator would add two 660 Mw units to its existing power station.
Realty/ Construction• Punj Lloyd has signed a pact with Rwanda to construct and operate 100 MW
power plant from peat - a coal-like fossil fuel - with an estimated cost of over ̀ 1,000 crore.
• GMR Group's thermal power plant at Kamalanga in Odisha's Dhenkanal District has been successfully synchronised with the grid.
Information Technology• Rolta has been awarded a multi-million dollar contract from Sadara
Chemical Company (Sadara) to implement a comprehensive engineering system at its complex which will be the world's largest petrochemical facility ever built in a single phase.
Capital Goods• Alstom T&D India has been awarded a contract by Bajaj Infrastructure
Development Company, to supply e-BoP (Electrical Balance of Plant) solution for their upcoming 3x660 MW Super Thermal Power Project (TPP) in Lalitpur, Uttar Pradesh.
• Jyoti Structures has recently secured export orders worth `1,200 crore from countries including Kenya, Tanzania, Namibia, Nigeria, Philippines and Tajikistan.
Healthcare• Apollo Hospitals Enterprises Ltd (AHEL) has got the Board's approval to
invest ̀ 2,250 crore over the next three years.• Bajaj Auto has come out with 'Discover 125 T', its latest addition to the
Discover range of motorcycles.Hotels & Restaurants• Cox & Kings will invest over `1,230 crore in next four years as part of its
global expansion plans. The company will be adding 18,500 new beds in Meininger Hotels to the present bed strength of 7,500 beds. The new hotels will be UK, Europe, America and India.
INTERNATIONAL NEWS• US wholesale inventories fell by 0.5 percent in May following a revised 0.1
percent decrease in April. The drop surprised economists, who had been expecting inventories to rise by 0.3 percent compared to the 0.2 percent increase originally reported for the previous month.
• US consumer credit jumped by $19.6 billion in May after rising by a downwardly revised $10.9 billion in April. Economists had expected credit to rise by $13.0 billion compared to the $11.1 billion increase originally reported for the previous month.
• US initial jobless claims rose to 360,000, an increase of 16,000 from the previous week's revised figure of 344,000. The increase surprised economists, who had been expecting jobless claims to dip to 340,000 from the 343,000 originally reported for the previous week.
• US Labor Department said import prices fell by 0.2 percent in June following a revised 0.7 percent decrease in May. Economists had been expecting import prices to inch up by 0.1 percent. Export prices edged down by 0.1 percent in June after dropping by 0.5 percent in the previous month. The drop in export prices matched economist estimates.
• Eurozone house price index fell 2.2 percent year-on-year, following a 1.7 percent slump in the fourth quarter of 2012. Spain registered the biggest decrease with prices falling 12.8 percent. Portugal and the Netherlands followed with declines of 7.3 percent and 7.2 percent, respectively.
• Singapore's gross domestic product spiked a seasonally adjusted annualized 15.2 percent in the second quarter of 2013 compared to the previous three months.
®
*Stock price has been adjusted according to the Bonus ratio 1:2
5
BSE SENSEX GAINERS & LOSERS TOP (% Change) NSE NIFTY GAINERS TOP & LOSERS (% Change)
SECTORAL INDICES (% Change)
SMC Trend
SMC Trend
FMCGHealthcare
FTSE 100CAC 40
Auto BankRealty
Cap GoodsCons Durable
Oil & GasPower
NasdaqDow jonesS&P 500
NikkeiStrait times
Hang SengShanghai
INSTITUTIONAL ACTIVITY (Equity) (` Crore)
ITMetal
Down SidewaysUp
SMC Trend
Nifty BSE Midcap Nifty JuniorSensex BSE Smallcap S&P CNX 500
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
®
1.15
0.92 0.94 0.98
1.63
1.12
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Junior S&P CNX 500
2.97
2.03
2.45
3.23
1.70
2.22
1.13
-2.17-1.95
2.00
0.92
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
2.84
2.15
2.64
1.14
2.50
2.79
3.28
2.63
3.07
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
7.50
6.14 6.02 5.75 5.66
-7.13
-5.54
-3.81 -3.58-3.15
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
IndusInd Bank
Kotak Mah. Bank
Reliance Infra.
Sun Pharma.Inds.
HCL Technologies
B P C L M & M Tata Motors O N G C Maruti Suzuki
5.84
4.40 4.293.58
3.23
-5.13
-3.66 -3.44-3.07
-1.79
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
Sun Pharma.Inds.
Sterlite Inds. B H E L Wipro ITC M & M Tata Motors O N G C Maruti Suzuki
GAIL (India)
-17.80
-240.20
167.20
73.40
11.30
-300.00
-250.00
-200.00
-150.00
-100.00
-50.00
0.00
50.00
100.00
150.00
200.00
Friday Monday Tuesday Wednesday Thursday
FII Activity MF Activity
Beat the street - Fundamental Analysis
6
® Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline
Face Value ( ) 10.00
52 Week High/Low 899.65 / 534.50
M.Cap (` Cr.) 24067.79
EPS (`) 102.13
P/E Ratio (times) 5.56
Stock Exchange BSE
`
VALUE PARAMETERS
% OF SHARE HOLDING
BANK OF BARODA CMP: 567.65 Upside: 45%Target Price: 822
Investment Rationale 68.24% at March end 2013 from 70.88% a quarter ago and 80.05% a year ago.•The business of the bank grew by 19% YoY to cross
`8 trillion marks at `802069 crore at March end •During FY13, the Bank opened 12 new branches in 2013, and bank is targeting business growth of various countries like New Zealand, Uganda, 1.5-2.0% above the banking industry growth for FY Mauritius, Ghana, Oman, Kampala, Australia, 2014. Advances of the bank stood at `328186 Botswana and Dubai. crore and the deposits stood at `473883.34 crore •Return on Average Assets (ROAA) stood at 0.90%, at March end 2013. and Return of Equity (ROE) stood at 14.59% for the
year ended March 2013.•Current Account Savings Account (CASA) deposits grew by 16% YoY to ̀ 119981 crore with strong 53% Valuationgrowth in overseas CASA to `16172 crore, while The management of the bank plans to expand the domestic CASA deposits rose moderate pace of local operations of the bank. The bank has designed 12% to ̀ 103809 crore at March end 2013. its future plans around aggressive forays into housing
•Net Interest Margin (NIM) of the bank stood at loans, gold loans, SME advances and low cost 3.11% in the quarter ended March 2013. deposits.
•%GNPA (Gross Non-Performing Assets) was nearly On the estimated book value of ̀ 833.08 for FY14E and steady on sequential basis and increased 87 bps one year average P/BV of 0.99x, we expect the stock YoY to 2.40% at March end 2013. Meanwhile, the to see a price target of 822 in one year (1- year) time %NNPA (Net Non-Performing Assets) moved up by frame. 16 bps QoQ and 74 bps YoY to 1.28% at March end 2013.
•The outstanding domestic restructured advance book stood at `16027.9 crore, while overseas restructured advances book stood at `3977.93 at the end of March 2013. The overall standard restructured advance book stood at 6.1% of advances at March end 2013 as compared to 6.8% a quarter ago and 6.0% a year ago.
•Capital Adequacy ratio stood at 13.3% with Tier I of 10.13% at March end 2013.
•The provision coverage ratio has declined to
` in cr
Particular Mar 2013 Mar 2014 Mar 2015
Net Total Income 14945.89 17206.74 20013.05
EBIT 9073.78 9756.05 11558.04
Pre-Tax Profit 4831.23 6950.27 8544.60
Net Profit 4480.72 5245.53 6288.16
EPS 108.84 124.50 148.97
BVPS 729.11 833.08 954.19
ROE 15.33 15.47 16.24
P/BV Chart
15.84
18.98
4.42
55.41
5.35 Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
Face Value ( ) 10.00
52 Week High/Low 396.00 / 276.30
M.Cap (` Cr.) 40699.18
EPS (`) 31.71
P/E Ratio (times) 10.12
P/B Ratio (times) 1.68
Stock Exchange BSE
`
` in cr
Particular Mar 2013 Mar 2014 Mar 2015
Revenue 47,332.67 49,806.51 56,766.70
EBITDA 5,586.37 7,007.70 7,517.45
EBIT 5,488.28 8,211.90 8,782.88
Pre-Tax Profit 6,057.77 6,097.54 6,319.41
Net Profit 4,022.20 4,146.84 4,321.59
EPS 31.71 32.61 33.74
BVPS 191.00 214.55 235.92
ROE 17.54 15.76 15.15
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale Cove Point LNG liquefaction terminal project located at Lusby in the state of Maryland. Dominion •The company has set a target of marketing 84.05 would be setting up the liquefaction facilities in the million metric standard cubic metre per day premises of its existing 11.7 mmtpa regasification (MMSCMD) and transmitting 110 MMSCMD of terminal. Construction work is expected to start in natural gas from domestic sources and through 2014 so as to put the liquefaction facilities into LNG route during FY 2013-14 under the Annual service in 2017. Memorandum of Understanding (MoU) signed
•The company has commenced gas supply to with Ministry of Petroleum & Natural Gas for Bengaluru from its Dabhol-Bengaluru 1,000 km performance targets. pipeline constructed at an investment of `4500 •The MoU also provides an 'Excellent' production crore with a design capacity of 16 MMSCMD of target of 430 TMT of Polymers (HDPE & LLDPE) natural gas.and 1,310 TMT of Liquid Hydrocarbons in FY2013-
2014. The excellent financial targets are pegged at Valuation`49155 crore in gross sales and a gross margin of With its extensive pan-India infrastructure in the `6160 crore. midstream and downstream segments, GAIL is well
•The company has indicated gas price of $13.25- positioned to market and distribute gas to meet the 13.5/million British thermal unit (mmBtu) for its growing domestic demand in India. We expect the imported gas from 2016-17. At present, stock to see a price target of `397 in one year time domestically produced gas sells at $4.2- frame on a two year average P/E of 12.18x and FY14 $5.7/mmBtu, under the administered price regime. (E) EPS of ̀ 32.61.Spot prices rule approx $14/mmBtu, and long-term contracts at $ 12/mmBtu.
•GAIL has a long-term agreement for 3.5 million tonnes annually with Sabine Pass Liquefaction, LLC, a subsidiary of US-based Cheniere Energy Partners, LP; this gas will come in 2016-17. It has also signed a long-term deal with Gazprom for 2.5 million tonnes a year from 2018-19. Besides these, GAIL imports spot cargoes. It plans to import 34 cargoes in 2013-14 against 16 in the previous year.
•It has signed a terminal service agreement with Dominion through GAIL Global (USA) LNG LLC for booking 2.3 mmtpa liquefaction capacities in the
P/E Chart
GAIL (INDIA) LIMITED CMP: 320.85 Upside: 23.79%Target Price: 397
17.6
15.01
7.24
0.74
57.35
2.05
Foreign
Institutions
Govt Holding
Non Promoter Corporate Holding
Promoters
Public & Others
Charts by Spider Software India Ltd
7
The stock closed at 49.80 on 11th July 2013. It made a 52-week low at 38.20 on
27th July 2012 and a 52-week high at `54.85 on 19th June 2013. The 200 days
Exponential Moving Average (EMA) of the stock on the weekly chart is currently
at ̀ 47.10.
It is clear from the charts that consolidation is over and the stock is on the verge
of breakout form its range of 40-50 levels in the near term. Moreover, it managed
to give closing above its 200 EMA on weekly basis, which is also a positive sign.
One can Buy in the range of 49-51 levels with closing below stop loss of 46.50
levels for the target of 57-59 levels.
` `
EQUITY
Above calls are recommended with a time horizon of 1-2 months
The stock closed at 71.80 on 11th July 2013. It made a 52-week low at 41.65 on
04th September 2012 and a 52-week high of `87.30 on 17th May 2013. The 200
days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 118.75.
After trading at lower levels, volume has began to increase with the rise in price,
which shows that lower level buying is going on. So, this level should be
considered buying opportunity for the short term targets. One can Buy in the
range of 69-71 levels with closing below stop loss of 66 levels for the target of 79-
80 levels.
` `
The stock closed at 379.10 on 11th July 2013. It made a 52-week low at 296.85
on 26th March 2013 and a 52-week high at `507.95 on 07th January 2013. The
200 days Exponential Moving Average (EMA) of the stock on the weekly chart is
currently at ̀ 504.11.
It has formed double bottom which is a positive formation. One can Buy 374-377
levels with closing below stop loss of 363 levels for the target of 390-395 levels.
` `
Development Credit Bank Limited
Reliance Capital Limited
India bulls Real Estate Limited
®
DERIVATIVES
BASIS GAP IN NIFTY
Nifty opened the week on a positive note around 5830 levels and came under selling pressure in the initial trading sessions. Then it staged a V-shaped recovery to recoup all the losses and closed above 5910 mark. On the F&O front, the overall market Open Interest (OI) rose with rise in cost-of-carry rose. For the July series, the basis increased to a premium of 3.00 points from a discount of 3.00 points over the week. For the Aug series, the premium rose to 25.00 points. Overall market cost-of-carry increased on the back of addition in open interest. Last week, both derivative volume and open interest increased indicating return of interest in the market, which could give some clear direction. Nifty is expected to remain in the range of 5850-6100 levels this week with the positive bias. The options concentration continues to be at 5800-strike put option with an open interest of above 80 lakh shares. This is followed by the 6000-strike call option with above 60 lakh shares. Above discussed option data indicates put writing at 5800 strikes and call writing at 6000 strike. The put-call ratio of open interest marginally increased closed at 1.50 levels. The Implied Volatility (IV) of call options closed lower 17.50% while the average IV of put options ended at 18.12%. Nifty VIX has dropped and is expected to remain range bound in the short term. Nifty VIX decreased to close at 18.77%. On the downside, traders should watch for breach of 5880 levels, below which selling pressure can resume again and the index can retest recent lows in coming weeks.
WEEKLY VIEW OF THE MARKET
NIFTY TOTAL OPEN INTEREST (in share)
FIIs ACTIVITY IN INDEX FUTURE (F&O) IN LAST WEEK
(Derivative segment)
®
FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS
(Derivative segment) `(Cr)
TATAPOWER (JUL FUTURE)
Buy: Above `91
Target: `96
Stop loss: `89.5
MARUTIBuy JUL. 1450 PUT 30.00Sell JUL. 1420 PUT 20.00
Lot size: 250BEP: 1440.00Max. Profit: 5000.00 (20.00*250)Max. Loss: 2500.00 (10.00*250)
OPTIONSTRATEGY
FUTURESTRATEGY
IDEA
Buy JUL. 150. CALL 3.35
Sell JUL. 155. CALL 2.05
Lot size: 2000
BEP: 151.30
Max. Profit: 7400.00 (3.70*2000)
Max. Loss: 2600.00 ( 1.30*2000)
ABIRLANUVO (JUL FUTURE)
Buy: `1059
Target: `1081
Stop loss: `1049
Above
RELIANCEBuy JUL. 900 CALL 20.40Buy JUL. 920 CALL 12.40
Lot size: 250BEP: 908.00Max. Profit: 3000.00 (12.00*250)Max. Loss: 2000.00 ( 8.00*250)
BEARISH STRATEGY
DERIVATIVE STRATEGIES
BULLISH STRATEGY
SIEMENS (JUL FUTURE)
Buy: Above `563
Target: `575
Stop loss: `557
BUY76.3%
SELL23.7%
-10
-5
0
5
10
15
20
27-Jun 28-Jun 01-Jul 02-Jul 03-Jul 04-Jul 05-Jul 08-Jul 09-Jul 10-Jul 11-Jul
228850 197750 275700658850
14727501742800
3617500
4412950
6944650
4625450
3035550
1848700 1883350
4263550
5224600
8276750
6545000
7342050
4222150
2603400
668650370350
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
9000000
5200 5300 5400 5500 5600 5700 5800 5900 6000 6100 6200
Call Put
-907.53 -839.72-1134.68
-716.91
3561.28
1100.011509.73
496.03 564.46
2728.73
-2000.00
-1000.00
0.00
1000.00
2000.00
3000.00
4000.00
28-Jun 01-Jul 02-Jul 03-Jul 04-Jul 05-Jul 08-Jul 09-Jul 10-Jul 11-Jul
8
9
BHARTIARTL 7330000 7011000 -4.35 0.75 0.82 0.07 40.44 39.99 -0.45
DLF 17574000 17532000 -0.24 0.81 0.67 -0.14 52.69 49.57 -3.12
HINDALCO 20736000 22448000 8.26 0.58 0.64 0.06 45.75 47.49 1.74
HINDUNILVR 10478500 9909500 -5.43 1.10 1.34 0.24 22.88 20.23 -2.65
ICICIBANK 6340750 6276250 -1.02 0.64 0.49 -0.15 33.25 32.53 -0.72
IDEA 6792000 6698000 -1.38 0.25 0.34 0.09 48.27 40.96 -7.31
INFY 2584625 2899500 12.18 0.91 0.97 0.06 53.67 66.36 12.69
ITC 15082000 14367000 -4.74 0.75 1.19 0.44 25.49 25.23 -0.26
JPASSOCIAT 52920000 54168000 2.36 0.68 0.59 -0.09 67.51 67.37 -0.14
NTPC 11196000 11688000 4.39 0.28 0.28 0.00 30.35 28.88 -1.47
ONGC 7273000 8474000 16.51 0.34 0.26 -0.08 35.04 36.69 1.65
RANBAXY 3838000 3912000 1.93 0.83 0.90 0.07 51.35 47.75 -3.60
RCOM 48072000 37300000 -22.41 0.85 0.96 0.11 72.00 69.56 -2.44
RELIANCE 7492500 7222500 -3.60 1.08 0.84 -0.24 32.75 32.53 -0.22
NIFTY 15646500 16817250 7.48 1.39 1.50 0.11 17.63 17.50 -0.13
SAIL 15732000 17380000 10.48 0.41 0.37 -0.04 52.06 47.97 -4.09
SBIN 5976000 5633875 -5.72 0.50 0.49 -0.01 34.49 34.23 -0.26
TATASTEEL 22118000 23386000 5.73 0.40 0.41 0.01 40.69 36.92 -3.77
UNITECH 61848000 71488000 15.59 0.59 0.40 -0.19 74.41 75.17 0.76
IMPORTANT INDICATORS OF NIFTY AND OTHER ACTIVE FUTURE CONTRACTS
OPEN INTEREST PCR RATIO IMPLIED VOLATILITY
SCRIPTS PREV. CURRENT % PREV. CURRENT PREV. CURRENT WEEK WEEK CHANGE WEEK WEEK CHANGE WEEK WEEK CHANGE
DERIVATIVES
Put Call Ratio Analysis : The Put-Call open interest ratio of Nifty has increased to
1.50 from 1.39. At the end of the week, the maximum stocks had a positive of
change in put call open interest ratio.
Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week
has decreased to 17.50% from 17.63%. The IV of the stock futures has changed
this week ranging from -7.31% to 12.69%.
Open Interest Analysis : The open interest for the index at the end of this week
has increased by 7.48% as compared to the previous week. All future stocks saw
changes in their open interest ranging from -22.41% to 16.51%. ONGC has the
maximum increase in open interest as compared to other stocks.
Statistical Analysis·
Open 5870.10 High 5963.00
Low 5772.60 Close 5941.35
NIFTY & IV CHART NIFTY ANALYSIS
®
16
17
18
19
20
5600
5700
5800
5900
6000
05-Jul 08-Jul 09-Jul 10-Jul 11-Jul
Nifty Close IV
10
®
Bullion counter may trade on the positive path as the short covering rally is
expected to persist further. On domestic bourses weak local currency rupee
is giving cushion to the gold prices. Gold may trade in the range of $1230-
1380 in COMEX and 26000-27800 in MCX. White metal, silver can also trade in
wide range of 39000-43500 in near term. US Federal Reserve Chairman
provided gold a booster dose by saying that the central bank will be
accommodative in approach towards pumping money in the economy to
help it grow. This meant that the $85-billion a month stimulus programme
will not end soon. Expectations that China could also ease its monetary
policy may also support the recovery in gold and silver. COMEX Gold metal
fell 23 percent to $1,285.14 an ounce in London this year. Prices climbed 8.9
percent since reaching $1,180.50 on June 28. Gold as much as doubled from
2008 to a record $1,921.15 in September 2011 as the U.S. central bank,
which currently buys $85 billion of bonds a month, led nations in cutting
interest rates and purchasing debt. Jewelry and coin demand around the
world surged after gold dropped into a bear market in April. The U.S. Mint
sold 21,000 ounces of American Eagle coins so far this month and on course
to beat the 57,000 ounce. Hedge funds and other large speculators cut bets
on higher prices by 83 percent since October.
BULLIONS
Bullish momentum may continue in crude oil but profit booking at higher levels cannot be denied. Rising Middle East tensions along with recovering in US economy is supporting the prices. Overall it can trade in the range of 6100-6500 in MCX and $102-110 in NYMEX. WTI may rise this week after U.S. stockpiles shrank and Federal Reserve Chairman Ben S. Bernanke called for maintaining stimulus. Egypt's political upheaval heightened concern that unrest in the most populous Arab country will spread and disrupt Middle Eastern oil supplies. Egypt's Muslim Brotherhood is planning new protests against the military's ouster of Mohamed Mursi as president and the army backed interim administration that's seeking to arrest its leaders. The Energy Department stated on Wednesday that crude supplies fell by 9.9 million barrels in the week ended July 5. In the past two weeks, oil supplies have dropped 20.2 million barrels slightly more than one day's consumption for the U.S. while gasoline supplies have fallen 4.3 million barrels. Natural gas may remain sideways in the range of 212-227 in MCX. Increasing inventories kept the prices on weaker side as U.S. Energy Information Administration reported that total domestic gas inventories rose last week by 82 billion cubic feet to 2.687 trillion cubic feet. MDA Weather Services noted the six to 10 day forecast turned hotter, particularly for the Northeast but also for the Midwest, while parts of the West and Texas were cooler. Nuclear plant outages which are running slightly above the five year average outage rate are also lending some support to the prices.
ENERGY COMPLEX
Base metals complex may continue to trade on volatile path on mixed fundamentals .Recently some decline in greenback and hint of continuation of Fed stimulus measures coupled with hope of recovery in US economy can support the prices. Whereas concern that slowing economic growth in China will hurt demand for metals. Two gauges of China's manufacturing fell last month and factory gate prices for June marked the worst run of declines since 2002, data showed this month, underscoring a sustained slowdown in the world's top metals user. Red metal copper can trade in the range of 405-435. Stockpiles monitored by the London Metal Exchange fell for a fifth session to 645,175 metric tons, the lowest since June 21. Inventories have more than doubled this year. Orders to remove the metal from warehouses dropped for a 10th session, the longest streak since December. China's copper imports in June rose nearly 6 percent from May, climbing for a second straight month to a 9-month high, as soft global prices and strong demand to use the metal as collateral for financing spurred purchases. Nickel prices can trade in the range of 800-850 in MCX. Aluminum prices may move in the range of 105-110 levels while Zinc prices can hover in the range of 108-114 in MCX. While battery metal Lead can move in the range of 120-127. India's National Aluminium Co Ltd (NALCO) has sold 12,000 tonnes of aluminium ingots at a premium of about $219 per tonne to the average global cash price on a cost, insurance and freight (CIF) basis.
BASE METALS
Chilli futures (Aug) may consolidate in the range of 5400-5650 levels. In the current scenario, supply pressure & lack of demand may continue to limit the upside. In Guntur market, there are around 55 lakh bags stocks. As regard sowing, in Madhya Pradesh region, area may increase during in days to come. Turmeric futures (Aug) is expected to witness an extended downside towards 5600 levels due to lack of North Indian orders and sluggish buying. The supply side fundamentals depict that in Nizamabad region, around 90% sowing has been completed till now, it will end till mid July. It is expected that area under cultivation may increase by 10–15% in Nizamabd region as well as total Andhra Pradesh state due to good monsoon rain. Jeera futures (Aug) will continue to find support above 13450 levels, supported by sustained export demand amid squeeze in global supplies. There is no supply in the international market from Syria, on the contrary Turkey is expected to produce 8,000-10,000 tonnes of cumin seed. Cardamom futures (Aug) is likely to remain in bearish zone facing resistance near 785 levels, getting pressurized by the arrivals from first round of picking. Moreover, buyers at the spot markets are refraining from fresh buying on anticipation of further fall in prices as the coming rounds will offer better quality capsules. Meanwhile, around 3 lakh kgs cardamom stocks are reported in the domestic market.
SPICES
OTHER COMMODITIES
Sugar futures (Aug) would possibly fall below 3020 levels owing to availability of ample supplies at the spot markets & poor offtake due to the ongoing monsoon. There are reports that the country has imported nearly 6 lakh tonnes of raw sugar and another 1 lakh tonnes of refined sugar so far in 2013-14 marketing year (October—September). Wheat futures (Aug) is expected to consolidate in the range of 1560-1590 levels, with upside getting capped. In the latest news, the Food Corporation of India (FCI) plans to sell over 9.5 million tonnes wheat to bulk consumers in the open market under the OMSS through tendering with a base price of Rs 1,500 a quintal. As on 1st July, Wheat stock in central pool was 423.97 lakh tonnes as against 498.08 lakh tonnes as compared to the previous year at the same time. Punjab, Haryana and Madhya Pradesh have 171.46, 104.45 and 67.42 lakh tonnes of wheat stock respectively in central pool. The short covering in Chana futures (Aug) might remain capped near 3200 levels on account of sluggish demand and weak buying support. The market participants are cautious following the news of government planning the imposition of import duty on pulses @ 7.5%. Pulses imports are being permitted at zero duty since 2006 to ensure availability in the country. On the contrary, investors are keeping close watch on the area under cultivation as farmers are preparing for sowing of kharif pulses.
Soybean futures (Oct) is expected to trade in the range of 3160-3260 levels. The supply side fundamentals show that, as per the latest statistics reported by soyabean processors association (SOPA), the total soyabean area may be more than 112 lakh hectare. Area in Madhya Pradesh is likely to be more than 61 lakh hectare as compared to 58.5 lakh hectare last year, meanwhile in Maharashtra, sowing has been completed on 30.33 lakh hectare as on July 8. On the demand side, one vessel is waiting at the cargo jetties to load 31,000 tonnes of soy meal for exports from Kandla port. Soy meal export demand is witnessing a rise on weakening of the Indian rupee. Mustard futures (Aug) is likely to remain firm taking support above 3450 levels due to better spot buying activities on the expectations of good demand during Ramadan. In Jaipur and Kota, prices appreciated on stockists' buying. Prices also moved up in Alwar, Bharatpur and Kherli markets on improved upcountry demand. CPO futures (Aug) is likely to maintain its upside bias & manage to remain above 495 levels. Market participants would be keeping an eye on the import data scheduled to be released next week by the Solvent Extractors' Association of India. According to a Reuters Survey, vegetable oils are expected to have imported 21% less of the refined variant in June. The survey showed estimated stocks at Indian ports at the end of June had fallen 1.3 percent to an average of 616,667 tonnes from May.
OIL AND OILSEEDS
Closing as on 11.07.2013
11
NOTES : 1) Buy / Sell 25% of Commodity at S1/R1 respectively & rest 75% at S2/R2 respectively.2) S1 & S2 indicate first support & second support & R1 & R 2 indicate first resistance & second resistance. 3) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the commodity. At the moment, the stop loss will be far as we are seeing the graphs on weekly
basis and taking a long-term view and not a short-term view.4) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name of Daily report- commodities.
TECHNICAL RECOMMENDATIONS
EXCHANGE CONTRACT CLOSING DATE TREND
PRICE CHANGED CHANGED STOP/LOSS
NCDEX SOYABEAN (JULY) 3812.00 04.07.13 SIDEWAYS - - - - - -
NCDEX JEERA (JULY) 13557.00 11.04.13 UP 13795.00 12400.00 - 12000.00 - 11500.00
NCDEX RED CHILLI (JULY) 5374.00 17.04.13 DOWN 6362.00 - 6000.00 - 6200.00 6300.00
NCDEX RM SEEDS (JULY) 3472.00 11.04.13 UP 3586.00 3280.00 - 3200.00 - 3100.00
MCX MENTHA OIL (JULY) 926.10 13.06.13 SIDEWAYS - - - - - -
MCX CARDAMOM (AUGUST) 758.40 28.02.13 DOWN 965.00 - 820.00 - 850.00 900.00
MCX SILVER (SEP) 41687.00 20.12.12 DOWN 57351.00 - 43000.00 - 44000.00 45000.00
MCX GOLD (AUGUST ) 26667.00 27.06.13 DOWN 25375.00 - 27000.00 - 28000.00 28500.00
MCX COPPER (AUGUST) 423.05 30.05.13 UP 414.55 400.00 - 390.00 - 380.00
MCX LEAD (JULY) 123.85 30.05.13 UP 122.90 117.00 - 113.00 - 110.00
MCX ZINC (JULY) 112.50 30.05.13 UP 107.55 106.00 - 104.00 - 102.00
MCX NICKEL (JULY) 818.90 21.02.13 DOWN 920.30 - 870.00 - 900.00 920.00
MCX ALUMINUM (JULY) 108.10 27.06.13 SIDEWAYS - - - - - -
MCX CRUDE OIL (AUGUST) 6267.00 06.06.13 UP 5404.00 5950.00 - 5850.00 - 5750.00
MCX NATURAL GAS (JULY) 216.90 06.06.13 DOWN 218.60 - 230.00 235.00 240.00
TREND RATE TREND S1 R1 S2 R2 CLOSING
*
TREND SHEET
COMMODITY
GOLD MCX (AUGUST) contract closed at 26677.00 on 11th July '13. The contract made its high of Rs
28288.00 on 11th June '13 and a low of `24830.00 on 28th May '13. The 18-day Exponential Moving
Average of the commodity is currently at ̀ 26364. On the daily chart, the commodity has Relative Strength Index (14-day) value of 52. One can Sell 26700-
26800 the range with the stop loss of ̀ 27030 for a target of ̀ 26100.
`
SILVER MCX (SEPTEMBER) contract closed at 40174.00 on 11th July '13. The contract made its high of
`47400.00 on 26th April '13 and a low of `38825.00 on 28th June '13.The 18-day Exponential Moving
Average of the Commodity is currently at ̀ 41062.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 48.63.One can Sell in
the range 41600-41800 with the stop loss of ̀ 42300 for target of ̀ 40200.
`
CRUDE OIL MCX (JULY) contract closed at 6283.00 on 11th July '13.The contract made its high of
`6440.00 on 6th July '13 and a low of ̀ 4769.00 on 18th April '13.The 18-day Exponential Moving Average
of the Commodity is currently at ̀ 6067.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 66.67. One can Buy in
the range 6270-6250 with the stop loss of ̀ 6200 for a target of ̀ 6400.
`
®
GOLD MCX (AUGUST)
SILVER MCX (SEPTEMBER)
CRUDE OIL MCX (JULY)
COMMODITY
NEWS DIGEST
Bullion counter showed sharp bounce back after the Fed's minutes last week; gold crossed $1290 in COMEX and 26800 in MCX. Gold is likely to witness the first annual drop in 13 years after some investors lost faith in it as a store of value. The retreat in prices to a 34-month low on June 28 spurred demand for jewelry and gold coins, diminishing supply and driving the cost of borrowing the metal to a 4 1/2-year high. Crude oil prices continued their upside momentum as it tested the key level of 6400 in MCX and $107 in NYMEX. But marginal profit booking was seen during later part of the week. Egypt crises and drawdown in stockpiles continue to support the crude oil prices higher. Last week, first-time claims for U.S. unemployment benefits climbed by 16,000 last week to 360,000, according to the Labor Department. Oil production in non OPEC countries will increase at the fastest pace in 20 years next year, as the International Energy Agency stated in its first monthly forecasts for 2014. OPEC, which pumps about 40 percent of the world's crude, will boost exports by the most this year as summer demand for motor fuels in the Northern Hemisphere peaks, according to Oil Movements. Base metals moved sideways with upward bias. Copper managed to move in the range of 405 - 425 in MCX. Zinc also remained sideways in the range of 110-114 levels while Lead moved in the range of 121-126 levels in domestic bourses.
According to Indian Meteorological Department, last week's low pressure area had prolonged life and un-conventional track along the monsoon trough (22nd June- 5th July). Rainfall scenario over east & northeast India has improved as compared to the last week from (-34% to -15% of the LPA). The weekly rainfall activity between (27 June to 03 July) was near normal/excess over the country as a whole and over all the four homogeneous regions except south Peninsula, where the rainfall was 22% below Long Period Average (LPA). For the country as a whole, cumulative rainfall during this year's monsoon has so far upto 03 July been 27% above the LPA. As regard price movement of agri-commodities, cotton prices witnessed decent gains supported by good quality arrivals & demand from spinning mills. Sugar prices continued to remain under heavy pressure of ample availability. According to the ISMA, the country will have 8 million tonnes of opening stock as on October 1 this year, 2 million tonnes more than the normative opening balance. Jeera & soymeal prices saw an upsurge, backed by exporters demand & a weaker rupee. Guar complex nosedived as the area under sowing continued to increase in major growing areas. Latest reports from Rajasthan Agricultural Department showed that area under guar cultivation at 69100 hectares, up from 45200 hectares in the same period previous year.
WEEKLY COMMENTARY
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
COMMODITY UNIT 03.07.13 10.07.13 DIFFERENCEQTY.
BARLEY MT 30608 30479 -129
CASTOR SEED MT 156235 143967 -12268
CHANA MT 147442 154679 7237
CHILLI MT 10999 10354 -645
COTTONSEED OILCAKE MT 83446 73929 -9517
JEERA MT 8745 8410 -335
MAIZE MT 9202 9913 711
RAPE MUSTARD SEED MT 97713 99512 1799
SOYA BEAN SEEDS MT 22153 18093 -4060
SUGAR M MT 12495 12595 100
WHEAT MT 16307 16395 88
COMMODITY UNIT 04.07.13 11.07.13 DIFFERENCE
QTY. QTY.
CARDAMOM MT 47.40 49.00 1.60
COTTON BALES 161400.00 157500.00 -3900.00
GOLD KGS 356.00 351.00 -5.00
GOLD MINI KGS 312.30 86.30 -226.00
GOLD GUINEA KGS 268.46 267.14 -1.31
MENTHA OIL KGS 874667.20 1088456.75 213789.55
MILD STEEL MT 1355.33 1355.33 0.00
SILVER (30 KG Bar) KGS 34073.51 47519.05 13445.54
•India's jewellers could continue a voluntary ban on sales of gold coins and bars for six months according to All India Gems and Jewellery Trade Federation.
•China's top planning body is preparing to let foreign exchanges open commodities warehouses in free-trade zones.
•Swiss and Global Asset Management (SGAM) has proposed to launch four base metal funds backed by physical holdings of aluminium, copper, nickel and zinc.
•The IMF shaved its 2013 forecast for global growth to 3.1 percent, as fast as the economy expanded last year and below the Fund's 3.3 percent projection in April.
•The U.S. Energy Information Administration slightly tightened its outlook for oil markets in 2014, but left the balance for 2013.
•National Spot Exchange takes an initiative to launch warehouse receipt trading system (NWRTS) e-Auction for bulk purchasers and sellers of various agricultural/non-agricultural commodities.
•India issued a notification to implement a hike in import duty on sugar to 15 percent from 10 percent.
•India's sugar output in the 2013/14 marketing year beginning October is likely to drop by 5.2 percent from a year ago to 23.7 million tonnes - Indian Sugar Mills Association.
•The Cotton Association of India has marginally increased it cotton crop estimate for the 2012-13 season ending September to 355.25 lakh bales (lb) against 352 lb estimated last month.
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
®
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
QTY.
3.99
2.99 2.872.62
2.42
-7.21
-4.99-4.69
-3.64
-2.10
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
SILVER NEW COTTON 29 MM
RUBBER NEW JEERA SOYAMEAL GUAR GUM GUAR SEED BARLEY CORIANDER COTTON SD. O.C (AKL)
4.09
3.25
1.69
1.22
0.85
-6.92
-4.87
-4.28
-2.91
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
SILVER GOLD COPPER ALUMINIUM ZINC GUARGUM MENTHA OIL GUARSEED STEEL RPR
Steel … an indicator of Growth
13
SPOT PRICES (% change)
COMMODITY
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
04.07.13 11.07.13
ALUMINIUM 5436400 5425425 -10975
COPPER 660725 646000 -14725
NICKEL 190590 194712 4122
LEAD 197750 194875 -2875
ZINC 1043700 1020150 -23550
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 05.07.13 11.07.13 CHANGE(%)
Soya CBOT NOV Cent per Bushel 1228.25 1290.25 5.05
Maize CBOT SEPT Cent per Bushel 525.75 560.34 6.58
CPO BMD SEPT MYR per MT 2385.00 2372.00 -0.55
Sugar LIFFE AUG 10 cents per MT 496.10 478.80 -3.49
COMMODITY EXCHANGE CONTRACT 05.07.13 11.07.13 CHANGE%
ALUMINIUM LME 3 MONTHS 1768.00 1835.00 3.79
COPPER LME 3 MONTHS 6789.00 7000.00 3.11
LEAD LME 3 MONTHS 2030.00 2080.00 2.46
NICKEL LME 3 MONTHS 13305.00 13635.00 2.48
ZINC LME 3 MONTHS 1841.00 1900.00 3.20
GOLD COMEX AUG 1212.70 1279.90 5.54
SILVER COMEX SEPT 18.74 19.96 6.51
LIGHT CRUDE OIL NYMEX AUG 103.22 104.91 1.64
NATURAL GAS NYMEX AUG 3.62 3.61 -0.25
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
Steel industry is often considered as an economic indicator of any country's development because of its critical role in infrastructural and overall economic development. World steel association, in its recent short-term outlook expects a recovery in global steel demand to kick in by the second half, led by the emerging economies. Yet, the situation on the financial markets remains fragile and the Eurozone crisis is far from being solved.
Indian scenario
• India, at present, is the fourth largest steel producer.
• India's production grew constantly in the last five calender years from 57.8 MT in 2008 to 63.5 MT in 2009, 69 MT in 2010, 73.6 MT in 2011 and 76.7 MT in 2012.
• As per World Steel Association in FY 2012-13, India's steel output grew 5.8 per cent to 78.12 million tons against 73.39 million tons in last year.
• According to World Steel Association, steel demand in India will grow by 5.9% to 75.8 Mt in 2013 and 7% in 2014 following 2.5 % growth in 2012 as monetary easing is expected to support investment activities.
• According to the Indian Steel Ministry estimates, India's steel making capacity is estimated to exceed 100 million tonnes (MT) by 2013 and the production is expected to reach 275 MT by 2020. The per capita steel consumption increased from 34 Kilograms (Kg) in 2004-05 to 59 kg in 2011-12.
• India is expected to become the second largest producer of crude steel in the world by 2015-16.
World scenario
• According to World Steel Association (WSA), global steel output 1.59 per cent during 2012-13.
• China is the global leader in steel production, followed by Japan, USA and India.
• China had produced the maximum steel during the fiscal at 726.33 MT, almost half of the world's total output of 1,521 MT. Production in China grew by 5.39 per cent during 2012-13 over 689.192 MT in 2011-12.
• World's second largest steel maker Japan produced 107.30 MT in 2012-13, clocking 0.78 per cent growth over 106.46 MT produced in the previous fiscal.
• The US, the world's third largest steel producing nation, clocked a negative rate, down 1.61 per cent, during the fiscal at 86.94 MT compared to 88.36 MT a year ago.
• Steel demand in EU 27 is expected to contract further by -0.5% in 2013, but will return to growth of 3.3% in 2014 to reach 144.1 Mt as lingering uncertainties associated with the euro crisis continued to weigh heavily on economic activities in the region.
Problems facing by Indian steel industry
• Currently, Indian steel industry is facing shortage of coal supply as rupee depreciation by over 8 per cent since January 2013 pushed up imported coking coal prices and squeezed margins of companies producing steel through the blast furnace route.
• The government's proposed move to increase the iron ore royalty to 15% from 10%, if implemented, could lead to a further squeeze on margins.
• Unregulated mining and large scale exports of Iron ore have raised concerns on the long-term availability of raw materials to address domestic demand.
Currently, the global steel market is oversupplied and demand is subdued while steel production has been ramping up. These factors are pressurizing the price of steel. But in 2014, further pickup in global steel demand is expected with the developed economies increasingly contributing to growth.
®
* Closing as on 03.07.13
-2.49
-2.10
-1.50
-1.30
-0.87
0.00
0.00
0.10
0.14
0.47
0.72
0.86
1.05
1.14
1.16
1.33
1.64
1.88
2.94
3.05
3.28
-3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00
MENTHA OIL (CHANDAUSI)
TURMERIC (NIZAMABAD)
CORIANDER (KOTA)
BARLEY (JAIPUR)
GUR (MUZAFFARNGR.)
MILD STEEL INGOTS (GHAZIABAD)
WHEAT (DELHI)
PEPPER MALABAR GAR (KOCHI)
CHILLI (GUNTUR)
SILVER (DELHI)
JEERA (UNJHA)
MASOOR (INDORE)
MUSTARD (JAIPUR)
CARDAMOM (VANDANMEDU)
REFINED SOYA OIL (INDORE)
CHANA (DELHI)
GOLD KG (MUMBAI)
CRUDE PALM OIL (KANDLA)
RAW JUTE (KOLKATA)
SOYABEAN (INDORE)
RUBBER (KOCHI)
Source : WSA
World steel output
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 61.21 61.53 59.43 59.89
EUR/INR 78.38 78.85 76.83 78.24
GBP/INR 91.00 91.49 89.34 90.58
JPY/INR 60.52 60.79 59.06 60.34
(Source: FX Centrel Open: Friday (Prior) 9.00 AM IST, Close: Thursday 5.00 PM IST)
News Flows of last week
10d July: Manufacturing slip shows up Britain's uneven road to recovery
10d July: Fed wants more job gains before slowing bond buys: minutes
11th July: Prices for U.S. imports and exports fall in June
11th July: U.S. posts unexpectedly large budget surplus for June
11th July: Fed balance sheet grew in latest week
11th July: U.S. retailers' June sales suggest overall consumer spending is
improving
11th July: The number of Americans filing new claims for unemployment
benefits rose last week
EUR/INR (JULY) contract closed at 78.24 on 11th July'13. The contract made its high of ̀ 78.85 on 08th July'13 and a low of ̀ 76.83 on 10th July'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 77.95.
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 60.29. One can buy above 78.90 for a target of 79.90 with the stop loss of 77.60
`
JPY/INR (JULY) contract closed at 60.34 on 11thJuly'13. The contract made its
high of `60.79 on 08thJuly'13 and a low of `59.06 on 09thJuly'13 (Weekly Basis).
The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 60.36.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 58.46
One can buy above 61.20 for a target of 62.25 with the stop loss of ̀ 60.70.
`
Market Stance
Finally Rupee managed to settle the week on positive note on local bourses
against its counterpart dollar after witnessing sharp falls in previous few weeks.
The actions taken by SEBI and RBI to curb the volatility in USD/INR along with
Bernanke dovish comments supported the pair. The Fed chief said the US central
bank would continue to pursue an accommodative monetary policy as inflation
remained low and the unemployment rate might be understating the weakness
of the labour market. Reserve Bank, aiming to curb volatility in the rupee,
ordered state-owned oil companies to purchase their dollar requirements from a
single public sector bank. However strong gains in equity markets also capped
falls in rupee.
EUR/INR
USD/INR (JULY) contract closed at 59.89 on 11th July'13. The contract made its high of ̀ 61.53 on 08th July'13 and a low of ̀ 59.43 on 11th July'13 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 59.97.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 61.20. One can sell below 59.70 for a target of 58.60 with the stop loss of 60.30.
`
GBP/INR (JULY) contract closed at 90.58 on 11th July'13. The contract made its
high of ̀ 91.49 on 08th July'13 and a low of ̀ 89.34 on 10th July'13 (Weekly Basis).
The 14-day Exponential Moving Average of the GBP/INR is currently at ̀ 90.71.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 56.21.
One can buy above 91.75 for a target of ̀ 92.95 with the stop loss of ̀ 91.00
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USD/INRTechnical Recommendation
GBP/INR JPY/INR
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Economic gauge for the next week
Date Currency Event PREVIOUS
15th July: USD Retail Sales (MoM) 0.60%
16th July: GBP Consumer Price Index (YoY) 2.70%
16th July: GBP Core Consumer Price Index (YoY) 2.20%
16th July: EUR Consumer Price Index - Core (YoY) 1.20%
16th July: EUR Consumer Price Index (YoY) 1.40%
16th July: USD Consumer Price Index (YoY) 1.40%
16th July: USD Consumer Price Index Ex Food & Energy (YoY) 1.70%
16th July: JPY BoJ Monetary Policy Meeting Minutes
17th July: GBP Bank of England Minutes
17th July: GBP Claimant Count Change -8.6K
IPOIPO
SEBI and its Norms
1. Amendment to SEBI (Mutual Fund) Regulations, 1996, regarding appointment of custodian belonging to the same group
Presently, mutual funds are not allowed to appoint a custodian belonging to the same group, if the sponsor of the mutual fund or its associates hold
50 per cent or more of the voting rights of the share capital of such a custodian or where 50 per cent or more of the directors of the custodian
represent the interests of the sponsor or its associates.
The Board has decided that the custodian in which the sponsor of a mutual fund or its associates are holding 50 percent or more of the voting rights
of the share capital of the custodian, would be allowed to act as custodian subject to fulfilling the following conditions i.e. (a) the sponsor should
have net worth of atleast Rs.20,000 crore at all points of time, (b) 50 per cent or more of the directors of the custodian shall be those who do not
represent the interests of the sponsor or its associates, (c) neither the custodian nor the asset management company of a mutual fund shall be a
subsidiary of each other, (d) no person shall be a director of both the custodian and the asset management company of a mutual fund and (e) the
custodian and the asset management company of a mutual fund shall sign an undertaking that they will act independently of each other in their
dealings with the schemes.
2. Limited purpose membership to mutual fund distributors
The Board decided to allow Mutual fund distributors to take limited purpose membership of Stock Exchange with lesser financial and compliance
burden to use infrastructure of Stock Exchanges for distribution & redemption of Mutual Fund Units.
To reduce the financial and compliance burden on these limited purpose members requirements such as SEBI registration, compliance as member
of stock exchange, paid up capital and Base Minimum Capital etc, would not be applicable. However stock exchanges may prescribe suitable
eligibility criteria in this regard including net worth requirements, membership fee etc. This limited purpose membership would be granted on the
basis of ARNs, granted to Mutual Fund Distributor by AMFI.
Further to address the possible risk of default by these limited purpose members, they will not be allowed to handle pay in and pay out of funds as
well as units on behalf of investor. Pay in & payout of funds & units would be directly from/ to the account of the investors.
3. Amendments to the Securities Contracts (Regulation) Act, 1956 and Securities Contracts (Regulation) (Stock Exchanges and Clearing
Corporations) Regulations, 2012
The CPSS-IOSCO (Committee on Payment and Settlement Systems – International Organisation of Securities Commissions) Principles for Financial
Market Infrastructures (FMIs) require that there should be a clear legal basis regarding (i) when settlement finality (defined as point of time after
which a settlement is final and irrevocable) occurs, (ii) netting and (iii) the right of an FMI to use and dispose of, collateral, notwithstanding
bankruptcy or insolvency of its participants or their clients. The same has been identified as gaps in the legal framework governing operations of
Clearing Corporations in India by the Financial Stability Assessment Program (FSAP) assessment of India.
In order to address the same and to provide sound legal basis for netting, settlement finality and right of Clearing Corporations over collaterals, the
Board approved the proposal to appropriately amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations)
Regulations, 2012. The Board also decided to propose to the Government amendments to the Securities Contracts (Regulation) Act, 1956 to
further strengthen the clearing and settlement framework.
4. Amendments to SEBI (Alternative Investment Funds) Regulations, 2012
I. Giving effect to the announcement in Budget for FY 2013-14 by Union Finance Minister on angel investor pools, the Board approved amendments to
SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) thereby providing a framework for registration and regulation of angel
pools under a sub- category 'Angel Funds'under Category I- Venture Capital Funds.
II. Salient features of 'Angel Funds' as approved by the Board are as under:
i. Angel Funds' shall be included in the definition of "Venture Capital Funds" under the SEBI (Alternative Investment Funds) Regulations, 2012.
ii. Individual angel investors shall be required to have early stage investment experience/ experience as a serial entrepreneur/ be a senior
management professional with 10 years experience. They shall also be required to have net tangible assets of atleast Rs. 2 crore. Corporate
angel investors shall be required to have Rs. 10 crore net worth or be a registered AIF/VCF.
iii. Angel Funds shall have a corpus of atleast Rs.10 crore (as against Rs. 20 crore for other AIFs) and minimum investment by an investor shall be
Rs. 25 lakh (may be accepted over a period of maximum 3 years) as against Rs. 1 crore for other AIFs. Further, the continuing interest by
sponsor/manager in the Angel Fund shall be not less than 2.5% of the corpus or Rs. 50 lakh, whichever is lesser.
iv. For ensuring investments are genuine angel investments, angel funds shall invest only in investee companies which:
a. are incorporated in India and are not more than 3 years old; and
b. have a turnover not exceeding Rs.25 crore; and
c. are unlisted, and
d. are not promoted, sponsored or related to an Industrial Group whose group turnover is in excess of Rs.300 crore, and
e. has no family connection with the investors proposing to invest in the company.
f. Further, investment in an investee company by an angel fund shall be not less than Rs.50 lakh and not more than Rs.5 crore and shall
be required to be held for a period of at least 3 years.
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MUTUAL FUND
NEWS
HDFC MF introduces FMP 370D July 2013 (2)
HDFC Mutual Fund has launched the New Fund Offer (NFO) of HDFC FMP 370D July 2013 (2), a Close Ended income scheme. The NFO opens for subscription on July 11, 2013, and closes on July 16, 2013. The investment objective of the scheme is to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).
Birla Sun Life MF introduces Fixed Term Plan- Series HB (366 days)
Birla Sun Life Mutual Fund has launched the New Fund Offer (NFO) of Birla Sun Life Fixed Term Plan - Series HB (366 days), a Close Ended income scheme. The NFO opens for subscription on July 12, 2013, and closes on July 16, 2013. The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
LIC Nomura MF revises exit load under various schemes
LIC Nomura Mutual Fund announces change in exit load under various schemes with effect from July 15, 2013. The revised load will be: LIC Nomura MF Savings Plus Fund: 0.10 percent if redeemed/switched out within 15 days, LIC Nomura MF Income Plus Fund: 0.50 percent if redeemed/switched out within 90 days, LIC Nomura MF Bond Fund: 1 percent if redeemed/switched out within 1 year, LIC Nomura MF Index Fund - Sensex Plan, LIC NOMURA MF Index Fund - Nifty Plan and LIC NOMURA MF Index Fund - Sensex Advantage Plan: 1 percent if redeemed/switched out within 1 month
Birla Sun Life MF declares dividend under Fixed Term Plan -Series EC
Birla Sun Life Mutual Fund has declared dividend under dividend option of Birla Sun Life Fixed Term Plan -Series EC. The record date for dividend is July 16, 2013. The rate of dividend will be ̀ 0.1000 per unit on the face value of ̀ 10 per unit. The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
ICICI Prudential MF declares dividend under the plans/options of ICICI Prudential Interval Fund II-Quarterly Interval Plan F
ICICI Prudential Mutual Fund has declared dividend under the plans/options of ICICI Prudential Interval Fund II-Quarterly Interval Plan F. The record date for dividend is July 16, 2013. The recommended rate of dividend on the face value of ̀ 10 per unit will be Retail Dividend- 0.1562, Regular Plan-Dividend-0.1609 and Retail Quarterly Dividend Payout- 0.1550. The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.
HDFC MF declares dividend under FMP 371D July 2012 (1)
HDFC Mutual Fund has declared dividend under the normal dividend option and quarterly dividend option of HDFC FMP 371D July 2012 (1), a plan under HDFC Fixed Maturity Plans-Series 22, a closed ended income scheme. The record date for dividend is July 16, 2013. The investment objective of the scheme is to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).
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NFOs WATCH
Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount
01-Jul-2013 15-Jul-2013 Close-Ended Growth `5000/-Union KBC Capital Protection Oriented Fund - Series 3 (G)
Parijat AgrawalTo seek to generate income / capital
appreciation by investing in a portfolio of
Debt and Money Market Instruments
maturing on or before the maturity of the
Scheme.
12-Jul-2013 16-Jul-2013 Close-Ended Growth `5000/-Birla Sun Life Fixed Term Plan - Series HB (366 Days) Direct Plan (G)
Kaustubh Gupta
to generate income by investing in a
portfolio of fixed income securities
maturing on or before the duration of the
Scheme.
05-Jul-2013 19-Jul-2013 Close-Ended Growth `5000/-Axis Hybrid Fund - Series 5 (42 Months) - Regular Plan (G)
Devang ShahTo generate income by investing in high
quality fixed income securities that are
maturing on or before the maturity of the
scheme whilst the secondary objective is to
generate capital appreciation by investing
in equity and equity related instruments.
08-Jul-2013 22-Jul-2013 Close-Ended Growth `5000/-BNP Paribas Capital Protection Oriented Fund - Series II (G)
Puneet Pal / Shreyash Devalkar
To seek capital protection by investing in
fixed income securities maturing on or
before the maturity of the scheme and
seeking capital appreciation by investing in
premium of exchange traded options.
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MUTUAL FUND Performance Charts
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch AUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Birla Sun Life India GenNext Fund - G 32.53 05-Aug-2005 150.15 10.83 2.52 26.28 12.86 16.02 1.74 0.74 0.19 47.62 40.31 4.72 7.35
ICICI Prudential Service Industries Fund - G 20.83 30-Nov-2005 140.95 6.17 6.60 24.51 6.78 10.11 1.60 0.63 0.19 58.69 32.58 1.37 7.36
Axis Equity Fund - Growth 12.76 05-Jan-2010 547.42 5.54 4.16 20.49 5.33 7.18 1.70 0.83 0.15 79.01 5.86 3.76 11.37
Franklin India Smaller Companies Fund - G 16.60 13-Jan-2006 297.29 7.59 -2.98 19.84 5.16 6.99 1.77 0.60 0.14 21.65 59.10 8.74 10.51
Franklin India Prima Fund - Growth 321.30 01-Dec-1993 772.93 7.54 -2.54 19.58 5.46 19.34 1.61 0.57 0.12 31.98 54.42 5.23 8.37
Morgan Stanley Growth Fund - Growth 66.82 18-Feb-1994 1312.82 6.33 0.28 19.27 3.03 12.00 1.70 0.80 0.09 71.48 22.41 0.75 5.37
Tata Ethical Fund - Plan A - Growth 75.06 24-May-1996 103.22 4.94 0.77 18.11 5.81 16.31 1.23 0.48 0.12 63.50 27.37 N.A 9.14
EQUITY (Diversified)
BALANCED
INCOME FUND
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 04/07/2013Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
ULTRA SHORT TERM
SHORT TERM FUND
Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns
Due to their inherent short term nature, the following 2 categories have been sorted on the basis of 6month returns
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch AUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
SBI Magnum Balanced Fund - Growth 57.01 09-Oct-1995 398.82 5.08 -0.87 17.88 4.43 15.56 1.19 0.10 28.37 31.85 6.56 33.22
ICICI Prudential Balanced - Growth 56.07 03-Nov-1999 501.94 4.16 -1.27 14.52 9.32 13.41 1.21 0.04 42.43 21.77 2.34 33.46
Tata Balanced Fund - Plan A - Growth 98.33 08-Oct-1995 545.88 5.29 -0.75 12.13 7.27 15.72 1.39 0.03 51.91 20.01 2.02 26.07
FT India Balanced Fund - Growth 55.30 10-Dec-1999 206.99 5.10 -0.44 12.04 5.61 13.41 1.26 0.02 52.79 18.83 1.26 27.12
Birla Sun Life 95 - Growth 342.56 10-Feb-1995 585.45 3.51 -2.30 11.16 5.14 21.14 1.41 0.01 52.24 15.86 0.72 31.18
Kotak Balance 18.62 25-Nov-1999 101.44 1.85 -0.80 10.03 5.25 15.16 1.27 -- 54.87 9.70 0.47 34.96
UTI Balanced Fund - Growth 84.64 20-Jan-1995 913.59 1.74 -4.08 8.26 2.80 15.90 1.28 -0.03 50.83 21.71 0.80 26.66
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch AUM Since Std. SharpeMaturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Morgan Stanley Active Bond Fund - Reg - G 12.77 03-Jun-2009 411.42 -2.98 8.25 -9.24 12.93 14.05 8.08 6.13 23.46 0.23 1152.00 7.95
SBI Magnum Income Fund - Growth 30.27 25-Nov-1998 5266.21 1.33 16.95 -6.74 10.52 13.51 9.98 7.82 20.02 0.31 2584.00 8.00
Birla Sun Life Income Plus - DAP 14.02 06-Mar-2009 5143.96 -1.08 15.18 -12.11 11.88 13.31 9.42 8.08 21.93 0.24 N.A 7.52
Birla Sun Life Income Plus - Reg - G 55.58 21-Oct-1995 5143.96 -1.07 15.18 -12.11 11.83 13.28 9.41 10.16 21.92 0.24 N.A 7.52
Templeton India IBA - Growth 41.51 23-Jun-1997 1372.28 -5.37 7.69 -3.44 11.94 13.11 10.23 9.27 17.30 0.31 N.A 8.56
Templeton India IBA - Plan B - Growth 41.51 23-Jun-1997 1372.28 -5.37 7.69 -3.44 11.94 13.11 10.23 9.27 17.30 0.31 N.A 8.56
SBI Dynamic Bond Fund - Growth 15.32 09-Feb-2004 6827.32 -1.77 16.93 -7.89 10.29 12.99 11.07 4.74 20.60 0.24 2712.00 8.04
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch AUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Birla Sun Life Medium Term Plan - Reg - G 14.35 25-Mar-2009 825.96 3.31 10.80 3.78 12.78 11.95 10.06 8.76 9.30 0.49 N.A 9.98
Birla Sun Life Short Term Opportunities Fund - Reg - G 19.37 24-Apr-2003 675.56 4.61 10.26 5.21 12.31 12.10 10.09 6.68 8.45 0.55 N.A 9.69
Sundaram Select Debt - S T A P - Reg - Appreciation 20.76 04-Sep-2002 48.01 3.75 12.81 5.14 10.80 11.44 10.61 6.96 7.12 0.56 N.A 8.57
Birla Sun Life Dynamic Bond Fund - Ret - DAP 14.22 08-Apr-2009 16203.30 2.57 13.50 0.86 10.65 11.25 9.28 8.62 8.78 0.41 N.A 8.43
Birla Sun Life Dynamic Bond Fund - Ret - G 20.56 24-Sep-2004 16203.30 2.59 13.52 0.87 10.65 11.25 9.28 8.54 8.78 0.41 N.A 8.43
Templeton India STIP - Growth 2428.60 31-Jan-2002 6306.13 0.78 10.61 4.46 9.96 10.58 8.83 8.06 6.61 0.47 N.A 9.93
ICICI Prudential Dynamic Bond Fund - Reg - G 13.48 12-Jun-2009 882.48 -1.90 13.05 -7.79 9.87 10.83 9.03 7.58 15.31 0.22 N.A 7.81
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch AUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Templeton India Low Duration Fund - G 13.06 26-Jul-2010 2367.30 7.12 10.10 9.09 9.49 9.69 N.A 9.43 2.00 1.20 N.A 8.81
Indiabulls Ultra Short Term Fund - G 1153.75 06-Jan-2012 939.83 7.65 8.75 8.23 9.26 9.60 N.A 9.92 1.43 1.60 N.A 8.17
DWS Treasury Fund - Investment - Reg - G 13.34 09-Oct-2009 616.66 4.15 6.90 7.40 9.21 9.21 8.38 7.97 3.12 0.66 255.00 8.11
IDFC Ultra Short Term Fund - Reg - G 16.73 17-Jan-2006 1974.22 7.02 8.91 8.83 9.21 9.34 9.32 7.12 2.20 1.09 127.00 8.37
Kotak Floater - LT - Growth 19.16 13-Aug-2004 4666.66 5.94 8.22 7.86 9.08 9.36 8.91 7.57 1.81 1.16 234.00 8.40
Templeton India Ultra Short Bond Fund - Retail - G 15.35 18-Dec-2007 4477.75 7.14 9.65 8.85 9.06 9.16 8.85 8.00 1.42 1.36 N.A 8.66
Baroda Pioneer Treasury Advantage Fund - Reg - G 1362.19 24-Jun-2009 1323.01 6.62 9.57 8.27 9.02 9.12 9.01 7.93 1.64 1.23 230.00 8.47
Annualised
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