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Equity investement
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Research ScorecardMarch 2014
2
Strong service platform
Intensive Research
Dedicated team for fundamental, derivative
and technical research
Total 26 fundamental research analysts
covering 198 companies across sectors
Customised research solutions – for
investing or trading using cash, equities or
derivatives
Dedicated equity advisors to guide you on
the markets
Online and mobile platforms for trading
and account tracking
Online reporting systems for tracking
transactions, profitability, securities
position and cash movement
Institutional services offered to our HNI
clients
Block deals
VWAP trading
Compliance reporting and monitoring
services for employee accounts
Key pillars of our equity proposition
Institutional & Corporate Services
Offer innovative and unique products
to cater to every client’s need
Provide flexibility in product and
service features
Execution
Margins
Liquidity
Innovative & flexible products
3
Research Philosophy
4
Stock selection basis
Fundamentals
Financials of the company
Growth prospects of the industry and
company
Quality of management
Competitive landscape
Valuations
Stock price vis-à-vis:
Peers
Earnings quality
Intrinsic value
Momentum
Stock price movement vis-à-vis market
and historical averages
Transaction volume
Technicals
Chart based parameters
Moving average price
Trend reversals
Historical cycles
Patterns
5
Research catering to client needs
Short term Trading
Medium term Investing
Long term Investing
Fundamentals
Intra – day Trading
Momentum Technicals
High Low Absent
6
Research basket
Short term Trading
Medium term Investing
Long term Investing
Intra – day Trading
Three to five years perspective – Equity model portfolio
Twelve to 15 month perspective – Detailed company reports
Others – Muhurat Picks and Annual Strategy Picks
Three months perspective
Pick of the Week
Seven to 30 days perspective
Monthly and Weekly Calls – Technical & Derivatives
Stocks on the Move, Positional Derivatives and Volatility Insight
One to three days perspective
Daily Calls – Technical, Momentum and Derivatives
Intra-day Calls – BTST, Margin and Derivatives
7
Research Performance – Long Term Investing
8
Overall Basket
Coverage: 198 companies
Target achieved: 131 companies (66% strike rate)
Detailed Company Coverage
9
Nano Nivesh
Initiated: 6 companies
Company Initiation price CMP Fair Value Return (YTD%) Comment Date of initiation
Atul Auto 97 354 280 264.9
The initiation fair value price had been achieved onNovember 29, 2012. This was | 160-180 and thensubsequently upgraded to | 205 and |280.These targetprices have been achieved. We have advised all long-term investors to hold on to the stock while short-terminvestors have been advised to book 50% profit in thestock.
September 14, 2012
Setco Automotive 108 89 102 -17.9
The stock is trading below the recommended price. Wehave revised our target price downwards to | 102 fromearlier fair value price of | 140-150. We continue to havea positive view on Setco
March 20, 2013
Dlink India 27 29 40 6.9We remain bullish on the stock and maintain our fairvalue assessment. Investors can continue to hold thestock
March 20, 2013
Wim Plast 329 603 480 83.3
We remain positive on the stock based on the expectedstrong earnings in the next two years and attractivemultiples. We advise our long term investors to hold onto the stock till our next update.
April 2, 2013
Siyaram Silk Mills 306 309 406-449 1.0Keeping the low liquidity nature of the stock in mind,investors can use dips to rationally buy the stock
December 13, 2012
Butterfly Gandhimathi Appliances 262 299 335 14.1 March 3, 2014
10
Equity Model Portfolio (rejigged on December 27, 2013) – Large CapEarlier Now
Name of the company Weightage(%)Auto 9Maruti Suzuki 5Tata Motors DVR 4BFSI 22HDFC 6HDFC Bank 6SBI 6Axis Bank 4Infrastructure 5L & T 5FMCG 13Nestle 3ITC 10Metals & Mining 4Coal India 2Hindustan Zinc 2Oil and Gas 11ONGC 3Reliance 8Pharma 7Lupin 3Sun Pharma 4IT 18Infosys 6TCS 8Wipro 4Telecom 4Bharti Airtel 4Media 4Zee Entertainment 4Retail 3Titan 3Total 100
Name of the company Weightage(%)Auto 12Maruti Suzuki 5Tata Motors DVR 4Bajaj Auto 3BFSI 19HDFC 6HDFC Bank 6SBI 3Axis Bank 4Power, Infrastructure & Cement 8L & T 5Ultratech Cement 3FMCG 13Nestle 3ITC 10Metals & Mining 3NMDC 3Oil and Gas 10Reliance 10Pharma 7Lupin 3Sun Pharma 4IT 19Infosys 7TCS 8Wipro 4Telecom 3Bharti Airtel 3Media 3Zee Entertainment 3Retail 3Titan 3Total 100
11
Equity Model Portfolio (rejigged on December 27, 2013) – MidcapEarlier Now
# Indicative diversified portfolio has 70% weightage to large cap and 30% to midcap
Name of the company Weightage(%)Auto 6Exide Ind. 6IT 12Info Edge 6Eclerx 6BFSI 16J&K Bank 8Yes Bank 8FMCG 20Kansai Nerolac 8Dabur India 6Tata Global Beverages 6Pharma 16Cadilla 8Glenmark 8Retail 6Navneet Publications 6Media 6Sun TV 6Capital Goods 6Cummins 6Realty/Infrasturcture 12Container Corporation of India 6Oberoi Realty 6Total 100
Name of the company Weightage(%)Auto 8Bosch 8IT 6Info Edge 6BFSI 16J&K Bank 8IndusInd Bank 8FMCG 20Kansai Nerolac 8Dabur 6Tata Global Beverages 6Pharma 14Cadilla 8Natco Pharma 6Retail 6Navneet Publications 6Media 6Sun TV 6Capital Goods 6Cummins 6Realty/Infrasturcture/Cement 18Container Corporation of India 6Oberoi Realty 6Shree Cement 6Total 100
12
Equity Model Portfolio
Performance (return since inception)#
All the three portfolios continue to outperform their respective benchmark indices, indicating that
our picks have been more consistent and stable vis-à-vis their respective indices on an average
As on March 31, 2014
# includes the dividend yield
44.7
26.2
39.4
27.5
11.9
20.8
0
10
20
30
40
50
Large Cap Midcap Diversified
%
Portfolio Benchmark
13
Value as on March 31, 2014
SIP in all three portfolios (large cap, midcap and diversified portfolio) continue to outperform
their SIP in the respective index
Assuming | 1,00,000 invested as SIP at the end of every month
Start date of SIP is June 30, 2011
SIP in Model Portfolio
3,40
0,00
0
3,40
0,00
0
4,19
8,53
6
4,26
5,97
5
4,18
6,87
6
3,89
6,06
2
3,80
7,76
1
3,40
0,00
0
3,82
3,81
1
2,600,000
2,800,000
3,000,000
3,200,000
3,400,000
3,600,000
3,800,000
4,000,000
Largecap Midcap Divesified
|
Investment Value of Investment in Portfolio Value if invested in Benchmark
14
Recommended on October 29, 2013
Muhurat Picks – Recommended in October, 2013
Reco price Exit price/CMP Return (%) StatusSBI 1705 1872 9.8 Booked ProfitBajaj Electricals 155 280 80.6 Booked ProfitEntertainment Network 290 360 24.1 Booked ProfitWipro 478 570 19.2 Booked ProfitBajaj Auto 2075 2023 -2.5 Open
15
Recommended on December 27, 2013
Yearly Strategy picks – Fundamental
Scrip Name Reco Pricexit price/CMP Return (%) StatusBajaj Auto 1935 2023 4.5 OpenIndusInd Bank 422 505 19.7 Booked ProfitIdea Cellular 168 146.6 -12.7 OpenITC 322 345 7.3 OpenMarico 221 211 -4.5 OpenShree Cements 4399 5080 15.5 Booked ProfitOberoi Realty 231 218 -5.6 OpenTitan Industries 229 263 14.8 Open
Yearly Technical picks
Technical Outlook 2014
• Recommendations: 10
• Open: 3
• Strike Rate: 100%
• Average Return on positive calls: 19.00%
Rec. Date Stock Recommen Rec Price Target Stoploss % Profit/Loss CommentJan-14 Ipca Lab 700.0 890.0 595.0 27.0 Target AchievedJan-14 Cummins India 458.0 575.0 380.0 26.0 Target AchievedJan-14 Kesoram Ind 68.0 95.0 51.0 19.0 Profit booked at 80.75Jan-14 Bosch 9600.0 12350.0 8000.0 18.7 Profit Booked at 11300Jan-14 CMC 1510.0 1940.0 1290.0 17.0 Book profit at 1765Jan-14 Tata Motors 368.0 440.0 315.0 13.0 Book 50% profit at 415Jan-14 TCS 2090.0 2500.0 1860.0 12.0 Book 50% profit at 2340Jan-14 JB Chemical 120.0 170.0 97.0 OpenJan-14 Colgate 1282.0 1580.0 1140.0 OpenJan-14 Tata Global 145.0 225.0 115.0 Open
17
Research Performance – Medium Term Investing
18
Techno Funda picks
As on Date Performance
Recommendations: 25
Open: 3
Strike Rate: 77%
Average Return on positive calls: 17.0%
Average Return on negative calls: -4.3%
19
Research Performance – Short Term Trading
20
Technical Breakout
As on Date Performance
Recommendations : 71
Open: 0
Strike rate:69%
Average return on positive calls: 14.5%
Average return on negative calls: -7.5%
21
Technical Delivery Call
March Performance
Recommendations : 25
Open: 4
Strike rate:84%
Average return on positive calls: 10.5%
Average return on negative calls: -3.5%
22
Monthly Technical Sectoral
March Performance
Recommendations : 7
Open: 0
Strike rate: 100%
Average return on positive cash calls: 11.3%
YTD Performance
Recommendations : 76
Open: 0
Strike rate:82%
Average return on positive cash calls : 10.2%
Average return on negative cash calls : -4.1%
Average return on positive future calls : 7.0%
23
Monthly Call
March Performance
Recommendations : 4
No Trade: 0
Strike Rate: 100%
Average return on positive calls : 9.0%
YTD Performance
Recommendations : 30
No Trade: 4
Strike rate:83%
Average return on positive calls : 7.5%
Average return on negative calls : -2.9%
24
Weekly Call
March Performance
Recommendations: 11
No Trade: 2
Strike Rate:86%
Average return on positive calls : 7.0%
Average return on negative calls : -4.0%
YTD Performance
Recommendations : 107
No Trade: 25
Strike rate:81%
Average return on positive calls : 6.0%
Average return on negative calls : -2.8%
25
Weekly Technical Calls
March Performance
Recommendations: 7
Strike Rate: 86%
Average return on positive cash calls : 12.0%
Average return on negative cash calls : -2.0%
YTD PerformanceRecommendations : 79
Closed at cost: 5
Strike rate:84%
Average return on positive cash calls : 9.0%
Average return on negative cash calls : -3.2%
Average return on positive future calls : 3.7%
Average return on negative future calls : -2.8%
Monthly Derivatives
March Performance
Recommendations: 5
Strike Rate: 80%
Average Return per call: 6%
Average Profit per call : |15540
YTD Performance
Recommendations: 55
Strike Rate: 84%
Average Return per call: 4.5%
Average Profit per call: |12200
March Performance
Number of strategies recommended: 8
Positive payoff: 4
Not initiated/Exit at cost : 1
Strike rate: 58%
Net profit/(Loss): | 14575
Weekly Derivative Calls
Number of strategies recommended: 92
Positive payoff: 59
Not initiated/Exit at cost: 23
Strike rate: 86%
Net profit: | 378000
Average profit per call: | 5040
YTD Performance
YTD Performance
Strike rate : 83%
Return per call: 7.4%
Stock in focus
YTD Performance
Date Instrument Action Price Target Stop Loss Closure date Exit Price Retrun % Profit/Loss
25-Apr-13 Dabur Cash 142 165 132 7-May-13 163 15% Profit booked16-May-13 IDFC Cash 157 180 147 31-May-13 147 -6% SL Triggered
March Performance
No. of Calls : 16
Open : 4
Strike rate: 100%
Average return per call : 12%
Stock trader
YTD Performance
Number of strategies recommended: 65
Positive payoff: 47
Open : 4
Not initiated/Exit at cost: 4
Strike rate: 84%
Net profit: | 1139825
Average return per call: 6%
YTD Performance
No. of Strategies: 18
Open : 1
Strike rate (YTD): 75%
Average profit per call (YTD): | 2400
Alpha Trades
YTD Performance
No. of Strategies: 38
Open : 1
Strike rate (YTD): 76%
Average profit per call (YTD): | 4550
Volatility Insights
31
Research Performance – Intra Day Trading
32
March Performance
Trading Calls
Strike rate of 75%
Trading Derivatives/Margin CallsTotal calls 442Positive Payoff 328Open 3Strike rate 75%
34
Disclaimer
ICICI Securities Ltd., Member of National Stock Exchange of India Ltd., SEBI Regn. No. INB 230773037 (CM),
SEBI Regn. No. INF 230773037 (F&O),SEBI Regn No. INE230773037 (CD), Bombay Stock Exchange Ltd., SEBI
Regn. No. INB011286854 (CM) , SEBI Regn No. INF010773035 (F&O). AMFI Regn. No.: ARN-0845, Corporate
Agent of ICICI Prudential& ICICI Lombard, Composite Corporate Agent License No. 2613930. Registered office
of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India.
Kindly read the Risk Disclosure Documents carefully before investing in Equity Shares, Derivatives or other
instruments traded on the Stock Exchanges. Please note that Mutual Fund Investments are subject to market
risks, read the all scheme related documents carefully before investing for full understanding and detail.
Insurance is the subject matter of solicitation. ICICI Securities Ltd. does not underwrite the risk or act as an
insurer. ICICI Securities is a distributor of Insurance and Mutual funds and acts as a Syndicate, Sub -Syndicate
member for IPO. The contents herein above shall not be considered as an invitation or persuasion to trade or
invest. Investors should make independent judgment with regard suitability, profitability, and fitness of any
product or service offered herein above. I-Sec and affiliates accept no liabilities for any loss or damage of any
kind arising out of any actions taken in reliance thereon. ICICI Securities Limited is not providing the service of
Portfolio Management Services (Discretionary or Non Discretionary) to its clients.
35
Disclaimer
The information provided is not intended to be used by investors as the sole basis for investment decisions,
who must make their own investment decisions, based on their own investment objectives, financial positions
and needs of specific investor. The information provided may not be taken in substitution for the exercise of
independent judgment by any investor. The investor should independently evaluate the investment risks and
make independent judgment with regard suitability, profitability, and fitness of any product or service offered
herein above.
Some of the products described hereinabove may be developed and offered by third parties ('third party
products'), which I-Sec may be making available to you. I-Sec does not endorse or guarantee these third party
products in any manner and will not be liable for their performance or otherwise. Investors' capital may not be
guaranteed and they could lose all or substantial portion of their investment. The products described in this
document may not be protected against sovereign risk including risks arising from any changes in applicable
Indian or other relevant laws, represent speculative investments and may involve a high degree of risk.