Embed Size (px)
Citation preview
MWISE NEYA Weekly Update from SMC
(For private circulation only)2019: Issue 680, Week: 22nd - 26th April
EARTH DAYAPRIL 22
EVERYONE SHOULD PLANTA TREE IN THEIR LIFE.
Bra
nd s
mc
464
www.smcinvestments.co. in
WHILE YOU LIVEYOUR DREAMS,WE MANAGEYOUR WEALTH.
SMC Investments & Advisors is a SEBI Registered Portfolio Manager
Building Wealth
Enriching Lives.
Family Office Services | Customised Debt Offerings | Alternative
Investments – Listed & Unlisted Space | Succession Planning |
International Investments | Forex Advisory & Hedging Services |
Real Estate Advisory | Direct Equity & PMS | Arbitrage Desk |
Risk Management Solutions | Unclaimed Investment Recovery
Advisory | Debt Syndication
C A L L
M A I L
i n f o @ s m c i n v e s t m e n t s . c o . i n
SMC Investments and Advisors Limited
11/5-B, Pusa Road, New Delhi - 110005 | Tel +91 4081 5200/9910909243
PMS License No. INP000003435 • ARN 65287 • CIN U19201DL1997PLC089315 • NSE INB/INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432 INE 260771431, CDSL/NSDL-IN-DP-130-2015 (SMC Global Securities Ltd.), NCDEX/MCX (8200)/NMCE/ICEX-INZ000035839 (SMC Comtrade Ltd.), PMS INP000003435 (SMC Investments and Advisors Ltd.) IRDAI Regi: No: DB 272/04 License No. 289, Valid upto 27/01/2020 (SMC Insurance Brokers Pvt. Ltd.), Merchant Banker INM000011427 (SMC Capitals Ltd.)
O U R P R E S E N C E
D e l h i | G u r g a o n | M u m b a i | K o l k a t a | B a n g a l o r e | P u n e
triverse
From The Desk Of Editor
(Saurabh Jain)
SMC is a SEBI registered Research Analyst having registration number INH100001849. SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities market.
SMC does not represent/ provide any warranty express or implied to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any investment decision.
SMC or its associates including its relatives/analyst do not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. SMC or its associates and relatives does not have any material conflict of interest. SMC or its associates/analyst has not received any compensation from the company covered by Analyst during the past twelve months. The subject company has not been a client of SMC during the past twelve months. SMC or its associates has not received any compensation or other benefits from the company covered by analyst or third party in connection with the research report. The Analyst has not served as an officer, director or employee of company covered by Analyst and SMC has not been engaged in market making activity of the company covered by Analyst.
The views expressed are based solely on information available publicly available/internal data/ other reliable sources believed to be true.
SMC Global Securities Ltd. (hereinafter referred to as “SMC”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited and its associate is member of MCX stock Exchange Limited. It is also registered as a Depository Participant with CDSL and NSDL. Its associates merchant banker and Portfolio Manager are registered with SEBI and NBFC registered with RBI. It also has registration with AMFI as a Mutual Fund Distributor.
lobal stock markets saw some profit booking as the initial earnings outcome
Gfailed to stimulate bulls. Both U.S. and China are expected to reach a deal by
the end of May to end the nine month trade war that has roiled the markets
and threatened global growth. Recently, global finance ministers and central bankers
said that they are prepared to act promptly in case world economy faces downside
risks that include trade tensions, policy uncertainty, geopolitical risks, etc. Europe’s
biggest economy Germany is heading for the worst year since 2013 and is expected to
see growth of 0.5 percent, half the pace that was previously forecasted. US-Japan
trade talks kicked off during the week and the Bank of Japan chief commented on the
risks of increasing trade protectionism for the global economic growth outlook.
Chinese economy growth for the first quarter ending March 2019 came at 6.4 percent
higher than the estimates of 6.3 percent but it is difficult to make out that whether
the economy has stabilised or it is temporary.
Back at home, investors continue to remain largely on the buy side after India
Meteorological Department (IMD) first stage forecast that rainfall over the country as
a whole is likely to be near normal. Also foreign investors have been investing heavily
in the domestic market and this has pushed the markets higher. However on Thursday,
domestic markets slipped lower, dragged by banking shares, as sentiments soured a
day after debt-ridden Jet Airways Ltd was forced to halt all operations after running
out of funds. Meanwhile, the WPI for the month of March, 2019 rose by 0.4 percent to
120.0 from 119.5 for the previous month. Indian exports showed a healthy growth of
11% in March, which took the growth for the full year to 9%. Going forward, stock
specific movement is expected in the market ahead of quarterly results.
On the commodity front, among bullions-gold & in energy complex-natural gas broke
its major support levels last week, while base metals traded under pressure. On
domestic as well as in the international market, gold is trading below its 200 days
average levels due to string of positive economic indications from both United States
and China, which sowed that the global economy might not be in much pain as
expected. China's economy growing at a steady pace in the first quarter & U.S., trade
deficit falling to an eight-month low in February took the shine away from safe-haven
bullion. In the energy section, the upbeat mood of oil prices has taken a pause,
however, the sentiments are still bullish on the back of renewed fighting in Libya and
sanctions on Venezuela and the approaching expiration of U.S. waivers for importers
of Iranian oil. Selling pressure continued to be seen in base metals as the market
participants waited for developments on the US/China trade deal. Some important
data are scheduled this week such as U.S Existing Home Sales, Core Durable Goods
Orders, which may influence commodities prices going forward.
Commodity 10-13
IPO 15
Equity 4-7
Contents
FD Monitor 16
Derivatives 8-9
Mutual Fund 17-18
Currency 14
Tel: 044-39109100, Fax -044- 39109111
S D Road, Secunderabad, Telangana-500003
Tel : 040-30031007/8/9
MUMBAI OFFICE:
Lotus Corporate Park, A Wing 401 / 402 , 4th Floor ,
REGISTERED OFFICES:
11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.
Tel: 91-11-30111000, Fax: 91-11-25754365
CHENNAI OFFICE:
Salzburg Square, Flat No.1, III rd Floor, Door No.107, Harrington Road,
Chetpet, Chennai - 600031.
SMC GLOBAL SECURITIES LTD.
PO Box 117210, Dubai, UAE
Tel: 97145139780 Fax : 97145139781
Email ID : [email protected]
DUBAI OFFICE:
2404, 1 Lake Plaza Tower, Cluster T, Jumeriah Lake Towers,
Ph.: +91-11- 43035012, 43035014, Email: [email protected]
Tel: 91-22-67341600, Fax: 91-22-67341697
102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Jay Coach Signal, Goreagon (East) Mumbai - 400063
KOLKATA OFFICE:
18, Rabindra Sarani, Poddar Court, Gate No-4,5th Floor, Kolkata-700001
Tel.: 033 6612 7000/033 4058 7000, Fax: 033 6612 7004/033 4058 7004
AHMEDABAD OFFICE :
10/A, 4th Floor, Kalapurnam Building, Near Municipal Market,
C G Road, Ahmedabad-380009, Gujarat
Tel : 91-79-26424801 - 05, 40049801 - 03
SECUNDERABAD OFFICE:
315, 4th Floor Above CMR Exclusive, BhuvanaTower,
Graham Firth Steel Compound, Off Western Express Highway,
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
NEWS
NOTES:1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name
of "Morning Mantra ".2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength
coming into the stock. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.
TREND SHEET
4
Closing as on 18-04-2019
ACC 1699 UP 01.03.19 1482 1560 1540
RELIANCE 1386 UP 30.11.18 1168 1280 1250
MARUTI 7447 UP 12.04.19 7343 7000 6900
BPCL 363 UP 08.03.19 367 358 355
ONGC 161 UP 08.03.19 150 145 143
BHARTIAIRTEL 347 UP 15.03.19 338 330 320
ITC 304 UP 08.03.19 292 290 285
L&T 1361 UP 08.03.19 1339 1320 1290
TATASTEEL 543 UP 15.03.19 515 500 490
NIFTY50 11753 UP 08.02.19 10944 10900 10600
S&P BSE SENSEX 39140 UP 08.02.19 36546 36300 35300
NTPC 135 UP 08.03.19 127 124 120
NIFTY BANK 30223 UP 30.11.18 26863 27700 27000
NIFTY IT 16079 UP 21.07.17 10712 15200 14800
HINDALCO 207 UP 05.04.19 215 202 195
INFOSYS 717 UP 14.12.18 706 710 690
CIPLA 562 UP 01.03.19 552 530 520
Stocks *Closing Trend Date Rate SUPPORT RESISTANCE Closing
ICICI BANK 404 UP 02.11.18 355 370 360
Price Trend Trend S/l
Changed Changed
SBIN 311 UP 02.11.18 286 295 285
FORTHCOMING EVENTS
EQUITY
30-04-2019 Nestle India Dividend - Rs 25 Per Share26-04-2019 Sanofi India Dividend - Rs 66 Per Share
25-04-2019 Nestle India Interim Dividend
23-04-2019 Prakash Industries Demerger
Ex-Date Company Purpose
26-04-2019 Yes Bank Accounts,Final Dividend & Others
30-04-2019 KotakMah. Bank Accounts,Dividend
25-04-2019 Biocon Accounts
24-04-2019 ICICI Pru Life Accounts,Final Dividend
25-04-2019 Multi Comm. Exc. Accounts,Final Dividend
24-04-2019 UltraTechCem. Accounts, Dividend
Meeting Date Company Purpose
24-04-2019 Tata Elxsi Accounts, Dividend
24-04-2019 Huhtamaki PPL Dividend -Rs 3 Per Share
26-04-2019 ABB India Dividend - Rs 4.80 Per Share
28-04-2019 L&T Fin.Holdings Quarterly Results,Dividend
30-04-2019 Exide Inds. Quarterly Results,Final Dividend
25-04-2019 MindTree Interim/ Special Dividend
29-04-2019 Castrol India Quarterly Results
26-04-2019 Hero Motocorp Accounts,Final Dividend26-04-2019 Axis Bank Final Dividend,Accounts & Others
27-04-2019 Cholaman.Inv.&Fn Accounts,Final Dividend
30-04-2019 TVS Motor Co. Accounts
25-04-2019 Maruti Suzuki Accounts,Dividend
24-04-2019 M & M Fin. Serv. Quarterly Results, Dividend, AGM
23-04-2019 ACC Quarterly Results
23-04-2019 BhartiAirtel Rights 19:67 @ Premium Rs 215 Per Share
25-04-2019 Quick Heal Tech Buy Back
24-04-2019 IndiabullsHous. Quarterly Results, Int. Div & Others
23-04-2019 Tata Global Quarterly Results,Final Dividend &
Others24-04-2019 Bharti Infra. Quarterly Results24-04-2019 Hexaware Tech. Quarterly Results,Interim Dividend
• Larsen & Toubro has won significant contracts for critical reactors, equipment and systems for Process Plant sector, against stiff global competition. Orders from international clients are mainly from the US, Europe, Middle East and South East Asia. The company classifies significant contracts of value between Rs 1000-2500 crore.
• Cipla announced that its subsidiary, Cipla Medpro South Africa will acquire a 30% stake upon closure in the connected healthcare company, Brandmed. In February, Cipla had announced a similar partnership in India with Wellthy Therapeutics to offer a clinically-validated digital disease management platform to patients in cardio-metabolic health.
Economy
• Eurozone trade surplus increased in February to its highest level in nearly a year. The seasonally adjusted trade surplus rose to EUR 19.5 billion from EUR 17.4 billion in January. The surplus was the biggest since March 2018, when it was EUR 20.4 billion.
• China's GDP grew 6.4 percent year-on-year, same as in the final three months of 2018. Economists had expected 6.3 percent growth.
• India's CPI rose 2.86 percent year-on-year following a 2.57 percent rise in February. The reading matched economists' expectations. Food inflation rebounded to 0.3 percent in March from a fall of 0.73 percent in February.
• Zydus Cadila has received the final approval from the USFDA to market Acetazolamide for Injection USP (US RLD —Diamox for Injection), 500 mg per single-dose vial. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad.
• Cyient has rolled out a portfolio of services and solutions that help Communication Service Providers (CSPs) expedite 5G network rollouts globally. The services will not only help in defining the migration roadmap towards the 5G NSA standard, but also help in planning smarter and faster rollouts, including site verification and benchmarking in post deployment operations.
• India's Wholesale price inflation rose to a three-month high of 3.18 percent in March from 2.93 percent in February. Economists had expected a 3.23 percent rise. Build up inflation rate in the financial year so far was 3.18 percent compared to a build up rate of 2.74 percent in the corresponding period of the previous year.
• Japan posted a merchandise trade surplus of 528.5 billion yen in March. That exceeded expectations for a surplus of 363.2 billion yen and was up from 334.9 billion yen in February. Exports were down 2.4 percent on year, beating expectations for a decline of 2.6 percent following the 1.2 percent drop in the previous month. Imports were up 1.1 percent on year versus expectations for a gain of 2.8 percent following the 6.6 percent contraction a month earlier.
• Lupin has received approval for its Fluoxetine Tablets USP, 10 mg and 20 mg, from the United States Food and Drug Administration (FDA) to market a generic version of Eli Lilly and Company's (Eli Lilly) Prozac Tablets, 10 mg and 20 mg. Lupin's Fluoxetine Tablets USP, 10 mg and 20 mg, is the generic version of Eli Lilly's Prozac Tablets, 10 mg and 20 mg.
DOMESTIC NEWS
Pharmaceuticals
• US industrial production dipped by 0.1 percent in March after inching up by 0.1 percent in February. Economists had expected production to rise by 0.2 percent.
• Lux Industries has launched India's first scented vest range under their flagship brand Lux Cozi. To fight the rising mercury during summers the refreshing scented vests will be a landmark product in the men's innerwear category. Bollywood star Varun Dhawan, the heartthrob of Young India and the Brand Ambassador for Lux Cozi launched the scented vest range in Mumbai.
Engineering
Information Technology
• US wholesale inventories edged up by 0.2 percent in February after surging up by 1.2 percent in January. Economists had expected inventories to climb by 0.5 percent.
INTERNATIONAL NEWS
• US trade deficit narrowed to $49.4 billion in February from $51.1 billion in January, while economists had expected the deficit to widen to $53.5 billion.
Textiles
BSE SENSEX TOP GAINERS & LOSERS (% Change) NSE NIFTY TOP GAINERS & LOSERS (% Change)
SECTORAL INDICES (% Change)
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
FII/FPI & DII TRADING ACTIVITY (In Rs. Crores)
5
SMC Trend
FTSE 100CAC 40
NasdaqDow jonesS&P 500
NikkeiStrait times
Hang SengShanghai
Down SidewaysUp
EQUITY
SMC Trend
BSE Midcap BSE SmallcapSensexNifty Nifty Junior S&P CNX 500
SMC Trend
ITMetal
Oil & GasPower
Cap GoodsCons Durable
Auto BankRealty
FMCGHealthcare
FII / FPI Activity DII trading activity
-0.08
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
Tata Motors -DVR
Tata Motors TCS Coal India IndusInd Bank Infosys Yes Bank Sun Pharma.Inds.
Power Grid Corpn
7.44
6.81
5.89
4.754.44
-3.21
-0.52 -0.43
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
Tata Motors TCS IndusInd Bank Coal India Hero Motocorp
Infosys GAIL (India) B P C L Wipro Zee Entertainmen
6.74
5.82
4.51 4.49
3.78
-3.16
-1.44-1.01 -0.88
-0.62
881.67
0.00 0.00
-11.96
560.94
0.00 0.00
-100.00
0.00
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
900.00
1000.00
Friday Monday Tuesday Wednesday Thursday
731.00
1.23
1.31
0.61
1.000.96
1.10
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
Ni�y Sensex BSE Midcap BSE Smallcap Ni�y Next 50 S&P CNX 500
2.28
2.02
1.05
1.17
0.77
0.27
0.77
2.48
0.46 0.46
0.69
0.00
0.50
1.00
1.50
2.00
2.50
3.00
Auto Index Bankex Cap Goods Index Cons Durable Index
FMCG Index Healthcare Index IT Index Metal Index Oil & Gas Index Power Index Realty Index
0.15 0.14
-0.24
1.86
0.50
0.72
2.34
0.46
1.10
-0.50
0.00
0.50
1.00
1.50
2.00
2.50
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp. FTSE 100 CAC 40
Beat the street - Fundamental Analysis
Source: Company Website Reuters CapitalineAbove calls are recommended with a time horizon of 8 to 10 months.
6
EQUITY
Dividend Yield (%) 0.81
Stock Exchange BSE
EPS (Rs.) 15.59
52 Week High/Low 308.60/157.10
Face Value (Rs.) 10.00
P/E Ratio (times) 15.88
M.Cap (Rs. in Cr.) 3371.86
P/B Ratio (times) 1.54
% OF SHARE HOLDING
VALUE PARAMETERS
EPS 11.24 16.67 18.60
BVPS 168.01 179.38 195.26
RoE 8.08% 9.27% 9.86%
Net Income 150.74 221.79 255.67
Ebit 416.80 618.18 625.42
ACTUAL ESTIMATE
FY Mar-18 FY Mar-19 FY Mar-20
Revenue 1897.20 2775.77 2935.53
Ebitda 554.46 751.67 839.73
BRIGADE ENTERPRISES LIMITED CMP: 247.60 Upside: 25%Target Price: 310
` in cr
• In its insurance business, total gross premium of life
insurance and health insurance grew by 39% to Rs.
1,998 crores. Individual First Year Premium (FYP)
grew a significant 68% YoY. Market share (excl. LIC)
increased 138 bps YoY to 4.0%. Also, sharp
improvement in margins were seen led by scale,
product mix and productivity improvements.
Investment Rationale
• Aditya Birla Capital is a financial services arm of
the Aditya Birla Group. Its key businesses include a
diversified NBFC, housing finance company, life
and health insurance companies and an asset
management company.
• Its total assets under management stood at Rs
2,58,833 crores at end Q3 FY19. Domestic equity
Average Assets under Management (AAUM) grew 9%
YoY. Keeping its focus on expanding its retail
presence, investor folios have doubled over last 2
years to reach 68 lakhs as at end Q3 FY19.
• Total lending book (including housing finance business)
grew 29% YoY to Rs. 60,129 crores vs. Rs. 46,522
Crores. Its overall lending book is backed by well-
matched asset and liability mix and adequate liquidity
pipeline to meet growth requirement. It raised about
Rs. 9,000 crores of long-term funds during Q3 FY19 and
continues to maintain healthy quality of its book. Its
NBFC’s Net Interest Margin expanded by 37 bps YoY to
4.85%, as a result of change in mix of the SME, Retail
and HNI businesses to 49% and maintained Housing
finance’s Net Interest Margins at 3.3%.
• The Revenue of the company grew 26% YoY to Rs. 4,119 Crores. The company’s net profit reflected a significant growth of 42% YoY to Rs. 206 Crores.
Risk• Regulatory provisions on tightening of fees &
commissions• Adverse capital markets ValuationAditya Birla Capital is well positioned to tap the opportunities of the financial industry. It is expected to emerge stronger on the back of its wide distribution franchise, a successful multi-channel strategy, a long history of product innovations and operational efficiency. Being part of a large, respected conglomerate, it also has the advantage of multiple financial relationships and easy access to liquidity compared to peers. It is expected that the stock will see a price target of Rs. 120 in 8 to 10 months time frame at a FY20E BVPS of Rs. 47.90 and current PBx of 2.51 times.
Face Value (Rs.) 10.00
52 Week High/Low 166.00/77.55
M.Cap (Rs. in Cr.) 22278.21
EPS (Rs.) 0.00
P/E Ratio (times) 0.00
P/B Ratio (times) 2.51
Stock Exchange BSE
% OF SHARE HOLDING
VALUE PARAMETERS
ACTUAL ESTIMATE
FY Mar-18 FY Mar-19 FY Mar-20
Total Income 13427.00 14460.30 16866.20
Pre-tax Profit 1553.61 1791.80 1992.03
Net Income 824.25 984.12 1522.60
EPS 4.20 4.49 6.90
BVPS 39.30 41.47 47.90
RoE 10.81% 11.08% 12.41%
ADITYA BIRLA CAPITAL LIMITED CMP: 102.15 Upside: 18%Target Price: 120
` in cr
Foreign
InstitutionsPromoters
Public & Others
P/B Chart
ValuationThe company is doing well and its commercial and residential growth prospects look attractive. The recent initiatives such as boost to affordable housing and RERA act will be beneficial for organized players and the company is fully geared up to capitalize on it. It is expected that the stock will see a price target of Rs. 310 in 8-10 months time frame on a one year average P/E 16.67 of and FY20 EPS of Rs.18.60.
Investment Rationale• Brigade is one of India’s leading developers in South
India primarily in Bengaluru market with the Group's business is broadly divided into three segments, which are Real Estate, Lease Rental and Hospitality.
• On the development front, the company is developing about 18.46 million sq. ft across residential, office, retail and hotel segments. Further, launches to the extent of about 9.04 million sq. ft in coming quarters across all segments.
• Company’s net debt standing as on December 31, 2018 is Rs. 2,834 crores and debt to equity stood at 1.03x till December 2019.
• Its hospitality business includes operational hotels viz. Sheraton Grand Bengaluru, Grand Mercure, Bengaluru and Mysore, Holiday Inn Chennai, etc. The occupancy rate across the Group's s marquee hotels has been very healthy during the year. The hospitality segment clocked a turnover of Rs. 80 crores and an EBITDA of 22% in Q3 versus a turnover of Rs. 74 crores and an EBITDA of 28% in Q2 FY 2019.
• The company holds the license to construct World Trade Centers (WTC) in South India. It has built WTC in Bengaluru and Kochi (Tower-I), which are already operational and is further constructing WTC, Kochi (Tower-II) and WTC, Chennai. These are expected to be operational by FY20.
• During March 2019, it has launched “Buzzworks” – the company’s new brand in co-working space. Co-working typically caters to (i) small startups, (ii) individuals and (iii) transition space to bigger organizations. Buzzworks will launch over 2,500 seats across seven locations and three cities in the coming months. Its
geographical reach will initially include Bangalore, Kochi and GIFT City. It also plans to partner with food & beverage services, gyms and salons at these locations.
• According to the management, the company would grow with the rate of 20-25% in coming years. The consolidated revenue was at three months ended December 2018 stood at Rs. 698 crores versus Rs. 843 crores in the previous quarter. The real estate segment clocked a turnover of Rs. 542 crores.
Risk• Increase in escalation cost due to delay in projects• Political uncertainties and changes in regulations
P/E Chart
5.877.51
2.27
72.74
11.62
Foreign
InstitutionsNon Promoter Corp. Hold.
PromotersPublic & Others
0.00
50.00
100.00
150.00
200.00
250.00
300.00
7-S
ep-1
7
27
-Sep
-17
18
-Oct
-17
8-N
ov-
17
28
-No
v-1
7
18
-Dec
-17
8-J
an-1
8
29
-Jan
-18
19
-Feb
-18
12
-Mar
-18
3-A
pr-
18
23
-Ap
r-1
8
14
-May
-18
1-J
un
-18
21
-Ju
n-1
8
11
-Ju
l-1
8
31
-Ju
l-1
8
21
-Au
g-1
8
11
-Sep
-18
4-O
ct-1
8
25
-Oct
-18
15
-No
v-1
8
6-D
ec-1
8
27
-Dec
-18
16
-Jan
-19
5-F
eb-1
9
25
-Feb
-19
18
-Mar
-19
8-A
pr-
19
2 3 5 6 Close Price
12.49
15.92
46.84
24.76
0.00
100.00
200.00
300.00
400.00
500.00
600.00
17
-Ap
r-1
4
19
-Ju
n-1
4
20
-Au
g-1
4
27
-Oct
-14
29
-Dec
-14
27
-Feb
-15
4-M
ay-1
5
1-J
ul-
15
28
-Au
g-1
5
2-N
ov-
15
4-J
an-1
6
3-M
ar-1
6
10
-May
-16
8-J
ul-
16
8-S
ep-1
6
10
-No
v-1
6
10
-Jan
-17
14
-Mar
-17
16
-May
-17
14
-Ju
l-1
7
14
-Sep
-17
15
-No
v-1
7
15
-Jan
-18
19
-Mar
-18
21
-May
-18
18
-Ju
l-1
8
19
-Sep
-18
22
-No
v-1
8
23
-Jan
-19
26
-Mar
-19
10 17 24 31 Close Price
Charts by Spider Software India Ltd
EQUITY
Above calls are recommended with a time horizon of 1-2 months
Disclaimer : The analyst and its affiliates companies make no representation or warranty in relation to the accuracy, completeness or reliability of the information contained in its research. The analysis contained in the analyst research is based on numerous assumptions. Different assumptions could result in materially different results.The analyst not any of its affiliated companies not any of their, members, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of the analysis research.
SOURCE: CAPITAL LINE
The stock closed at Rs 2149.25 on 18th April, 2019. It made a 52-week low of Rs
1711.15 on 05th June 2018 and a 52-week high of Rs. 3674.80 on 25th May 2018.
The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart
is currently at Rs 1923.80
Stock has been maintaining its uptrend and trading in a rising channel with a
formation of higher high and higher bottom pattern on daily and weekly interval.
This week we have observed fresh breakout above the symmetrical triangle
pattern along with positive divergence on secondary oscillators, which points
towards more upside in prices moving forward. Therefore, one can buy in the
range of 2140-2150 levels for the upside target of 2280-2290 levels with SL below
2050
The stock closed at Rs 366.10 on 18th April, 2019. It made a 52-week low at Rs
282.95 on 11th October 2018 and a 52-week high of Rs. 396.60 on 20th December
2018. The 200 days Exponential Moving Average (DEMA) of the stock on the daily
chart is currently at Rs 347.58
Stock has been consolidating in broader range of 330 to 350 from last six weeks
below its 200 days exponential moving average on daily interval. However, last
week a consolidation breakout above the key resistance level of 350 has been
observed, along with breakout above the symmetrical triangle pattern.
Additionally stock has also witnessed follow up buying this week as well and has
been managed to close above its long term moving averages on daily interval.
Therefore, one can buy in the range of 360-365 levels for the upside target of
395-400 levels with SL below 345.
Marico Limited (MARICO)
7
Tata Consultancy Services Limited (TCS)
DERIVATIVES
CHANGE IN NIFTY OPTION OI (IN QTY) (MONTHLY)
WEEKLY VIEW OF THE MARKET
NIFTY OPTION OI CONCENTRATION (IN QTY) (MONTHLY)
CHANGE IN BANKNIFTY OPTION OI (IN QTY) (MONTHLY)BANKNIFTY OPTION OI CONCENTRATION (IN QTY) (MONTHLY)
In the week gone by, Nifty closed in red after making all time high due to profit booking. Only energy index managed to close in green. On the derivative front,
call writers were aggressively writing ATM and OTM call option whereas put writing on lower strike was observed. The maximum call open interest buildup of
more than 31 lakh shares at 12000 strikes has been observed, which should act as strong resistance zone in this series. However, on downside Nifty has multiple
strong supports at lower levels, which are placed at 11700-11650 spot levels. The Implied Volatility (IV) of calls closed at 13.42% while put options closed at
13.87%. The Nifty VIX for the week closed at 21.69% and is expected to remain sideways. The current PCR (put call ratio) closed at 1.46, which indicates more
OTM put writing and is a bullish sign. Among Nifty put options, the 11500-strike call has the highest open interest of more than 28 lakh shares. On the technical
front, 12000-11950 spot levels is resistance zone and support is at 11500-11600 levels. Nifty is expected to trade in this range and is likely to consolidate at higher
levels.
SELL APR 760 PUT 11.60
Lot size: 500BEP: 774.50
Max. Profit: 7250.00 (14.50*500)Max. Loss: 2750.00 (5.50*500)
IBULHSGFIN
BUY APR 780 PUT 17.10
OPTIONSTRATEGY
FUTURE
Lot size: 1000
CIPLA
Max. Profit: 6600.00 (6.60*1000)
BUY APR 565 CALL 6.00SELL APR 575 CALL 2.60
BEP: 568.40
Max. Loss: 3400.00 (3.40*1000)
DERIVATIVE STRATEGIES
RECLTD
BUY APR 155 CALL 1.85
Max. Loss: 6900.00 (1.15*6000)
SELL APR 160 CALL 0.70
Lot size: 6000BEP: 156.15
Max. Profit: 23100.00 (3.85*6000)
8
Call Put
Call Put
In lakhs
Call Put
In 10,000
BULLISH STRATEGY
VGUARD(APR FUTURE)
Buy: Above `228
Target: `238
Stop loss: `223
MOTHERSUMI (APR FUTURE)
Sell: Below `157
Target: `148
Stop loss: `162 Stop loss: `126
Target: `118
Sell: Below `123
MANAPPURAM(APR FUTURE)
BEARISH STRATEGY
In 10,000
Call Put
In lakhs
10.9
7
6.25
5.66
2.43
2.67
6.05
4.89
11.3
3
18.3
3
15.6
2
24.8
3
6.88
9.43
27.9
1
15.1
5
15.5
1
28.7
5
18.9
8
22.9
5
18.3
1
2.66 3.
44
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
9500 10000 11000 11300 11400 11500 11600 11700 11800 11900 12000
-0.3
3
-0.1
5
-0.4
1
-0.0
4
-0.3
5
-1.9
1
-2.2
4
-4.2
7
-4.3
3
0.14
-4.7
0
-0.3
1
-0.3
5
-2.2
5
-2.2
0 -1.0
8
-0.2
5
0.59
9.43
13.8
0
1.53
-0.2
9
-10.00
-5.00
0.00
5.00
10.00
15.00
9500 10000 11000 11300 11400 11500 11600 11700 11800 11900 12000
29.8
1
11.2
0
0.01
7.92
4.79
0.03
29.4
8
16.0
1
16.6
4
78.0
9
35.9
0
12.0
1
7.45
23.8
4
25.8
8 33.2
4
23.8
0
25.5
3
41.6
0
61.7
7
28.8
0
2.71
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
27000 27500 27800 28000 28500 28700 29000 29500 30000 30500 31000
-0.0
2
-0.0
6
0.00
-0.2
4
-0.3
9
0.00
-0.4
3
-0.9
5
-6.9
5
29.7
2
10.1
8
-1.0
4
-0.9
5
-0.0
2
-1.6
4
-5.2
1
0.10
-4.3
7
-0.1
2
22.9
7
19.3
1
0.98
-10.00
-5.00
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
27000 27500 27800 28000 28500 28700 29000 29500 30000 30500 31000
DERIVATIVES
FII’s ACTIVITY IN DERIVATIVE SEGMENT
SENTIMENT INDICATOR (NIFTY)
VIX 21.69 21.39 21.00 20.96 21.13
PCR(VOL) 1.20 1.10 0.91 1.01 1.03
A/D RATIO(ALL FO STOCK)* 1.37 1.26 2.14 1.13 0.52
16-Apr 15-Apr 12-Apr 11-Apr 10-Apr
COST OF CARRY% 0.89 0.88 0.85 0.84 0.83
DISCOUNT/PREMIUM 37.30 37.40 60.40 72.20 68.60
PCR(OI) 1.46 1.29 1.24 1.18 1.19
IMPLIED VOLATILITY 13.87 13.24 12.86 12.71 13.25
HISTORICAL VOLATILITY 12.47 12.23 12.58 12.89 13.28
A/D RATIO(NIFTY 50) 3.25 0.96 1.55 1.63 0.65
*All Future Stock
SENTIMENT INDICATOR (BANKNIFTY)
FII’S ACTIVITY IN INDEX FUTURE
**The highest call open interest acts as resistance and highest put open interest acts as support.# Price rise with rise in open interest suggests long buildup | Price fall with rise in open interest suggests short buildup # Price fall with fall in open interest suggests long unwinding | Price rise with fall in open interest suggests short covering
#All Future Stock
16-Apr 15-Apr 12-Apr 11-Apr 10-Apr
COST OF CARRY% 0.89 0.88 0.85 0.84 0.83
VIX 21.69 21.39 21.00 20.96 21.13
PCR(OI) 1.10 1.02 1.09 1.13 1.13
#A/D RATIO(ALL FO STOCK) 1.56 0.44 3.60 0.47 0.28
IMPLIED VOLATILITY 17.87 17.36 17.05 16.15 17.59
DISCOUNT/PREMIUM 74.20 83.30 124.50 158.95 175.75
HISTORICAL VOLATILITY 16.82 16.02 16.41 16.81 17.33
A/D RATIO(BANKNIFTY) 3.00 1.00 3.00 0.33 0.09
PCR(VOL) 1.28 0.96 0.95 0.84 1.14
9
In Cr. In Cr.
TOP 10 SHORT BUILD UPTOP 10 LONG BUILD UP
DCBBANK 203.30 1.52% 5625000 9.46%
VGUARD 226.95 2.00% 3879000 10.42%
HEXAWARE 345.90 1.74% 3369000 13.66%
LTP % Price Change Open interest %OI Chng
COALINDIA 249.20 3.25% 37140400 14.20%
JUBLFOOD 1387.85 1.19% 3441000 3.80%
INFIBEAM 51.90 9.26% 14556000 9.38%
PCJEWELLER 146.30 30.28% 11076000 6.50%
HAVELLS 759.60 1.58% 4709000 7.73%
INDIGO 1579.55 9.90% 2290200 5.68%
IGL 322.10 2.58% 3830750 4.66%
LTP % Price Change Open interest %OI Chng
RELCAPITAL 170.90 -4.28% 9856500 9.17%
CANFINHOME 346.75 -2.42% 3591000 3.74%
BIOCON 625.05 -1.28% 5832000 5.37%
SYNDIBANK 41.65 -2.23% 27285000 6.13%
CADILAHC 338.75 -1.30% 11571200 5.90%
ENGINERSIN 119.60 -1.89% 9003600 4.32%
BANKINDIA 99.25 -1.00% 25374000 3.55%
INDIANB 270.50 -2.21% 3362000 7.62%
WIPRO 280.15 -1.16% 35187200 8.99%
CUMMINSIND 736.05 -2.49% 1786400 9.91%
-75
73
63
2
-86
5
-21
2
-11
70
28
-95
1
-22
2
74
1
-1500
-1000
-500
0
500
1000
03-Apr 04-Apr 05-Apr 08-Apr 09-Apr 10-Apr 11-Apr 12-Apr 15-Apr 16-Apr
23
56
95
5
-64
-78
1
-34
-15
47
25
14
8
63
0
21
33
-2000
-1500
-1000
-500
0
500
1000
1500
2000
2500
3000
03-Apr 04-Apr 05-Apr 08-Apr 09-Apr 10-Apr 11-Apr 12-Apr 15-Apr 16-Apr
10
In turmeric futures (May), consolidation with a downside bias can be seen in a
broader range of 6200-6700. The sentiments of the market participants are
not encouraging as the farmers are in a hurry to sell their produces since the
spot prices are trading near to 3 months low. It is reported that nearly 80% of
turmeric farmers of Nizamabad district are selling their crop had sold the crop
as the yield is fetching them below Rs.7,000 a quintal, much below their cost
of cultivating of Rs.8,000 per quintal. Taking advantage of the lower price, the
traders are buying this yellow spice from Nizamabad & selling in the Sangli
market, making a profit of at least Rs.2,000 per quintal. The bull-run is likely
to prevail in jeera futures (May) and in days to come it may test 17100-17400
levels. The increase is attributed to peak in export demand. March and April
are the prominent period for cumin exports from India. In the present
scenario, we are witnessing a shift in demand to India as output in major
producers Syria and Turkey is seen lower. Shortages in the international
market have given the Indian exporters an edge to become the sole suppliers &
become a price setter. Coriander futures (May) is trapped in the range of 7050-
7250 since past two weeks. This commodity is seeing selling pressure from
higher levels, while on the contrary also witnessing buying on dips. However,
the overall bias is positive amidst due to concerns of output & the supply
constraints may drive the counter to 7600, as soon as it breaches 7350 levels.
SPICES
Bullion counter may continue to trade on bearish path supported by better than expected economic growth reading from China. Chinese data showed that in Q1 the pace of economic growth remained steady at 6.4%, beating expectations for a 6.3% expansion. An important change in market psychology has occurred just the past few weeks result to this, Gold is trading near 4-months low as China fuels risk sentiments and investors pull their money from safe heaven and park in riskier assets. There are also signs of progress between U.S, & Sino trade negotiations and strong U.S. economic data readings have further strengthen risk appetites since the start of the Q2. In the U.S., trade deficit fell to an eight-month low in February as imports from China plunged, boosting the country's economic growth in the first quarter. The two counties have set a tentative timeline for the next round of trade talks and aim to conclude negotiations by early June. Among a string of positive economic indications were data from both United States and China that tempered concerns about global growth and took the sheen off safe-haven bullion. Based on Technical chart patterns, correction in Gold may continue and find support near 31200 levels a breach below 31200 levels opens the doors towards 30900 levels, whereas immediate resistance holds at 31600-31650 levels. Higher volatility is expected in the counter. On the other hand, Silver bears have overall near-term technical advantage. Prices could faces resistance near 38200 levels and may find support near 36500-36200. Overall bias is bearish for the bullion counter as risk aversion in marketplace that is seeing monies flows into riskier asset classes than safe heaven.
BULLIONS
Soybean futures (May) is giving a lower closing since past two weeks & this bearishness is likely to get continued till 3650 levels. The market participants are turning more bearish in this oilseed due to hopes of higher production in 2019-20 (Jul-Jun) following forecast of "near normal" monsoon. Secondly, the decline in soybean prices on Chicago Board of Trade is weighing on sentiments. The two countries have tentatively scheduled a fresh round of face-to-face trade talks, with negotiators aiming to hold a signing ceremony in late May or early June. Mustard futures (May) is continuously testing the support level near 3755 & observing selling pressure because of sustaining supply of last season crop and lukewarm demand from oil millers. In days to come, the counter would probably come down to test 3700 levels owing to prevailing weakness in overall oilseed complex. Moreover, the absence of demand for mustard meal from China & sluggish buying by NAFED is weighing on the sentiments. Soy oil futures (May) is likely to consolidate in the range of 720-728 levels, CPO futures (May) will remain trapped in the range of 535-550 levels. The rising vegetable oil imports are creating a supply pressure & have forced the oilseed crushing units and edible oil refineries to reduce their operating capacity steadily to below the sustainable level of 30%. There is less demand for the domestically produced oils, since the imported refined oil is cheaper. The share of refined oil in the overall import in March has sequentially risen steadily to & with profit margins narrowing for processing of CPO in domestic refineries, Indian processing units are focusing on import of more refined oil than crude oil.
OIL AND OILSEEDS
Crude oil prices rallied to its highest level this year & may continue to extend recent gains as propelled by ongoing supply cuts led by producer club OPEC + and by U.S. sanctions on petroleum exporters Iran and Venezuela. Oil markets continued to support by steady economic growth in China. China’s economy grew by 6.4 percent in the first quarter, official data showed, defying expectations for a further slowdown and assuaging global markets as a U.S.-China trade deal also appears near. Refinery throughput in China - the world’s second-largest crude user - rose 3.2% in March from a year earlier. Global supply has been tightened further by U.S. sanctions on OPEC members Venezuela and Iran. Iran’s crude exports have dropped in April to their lowest daily level this year, tanker data showed and industry sources said, suggesting a drawdown in buyer interest ahead of expected further pressure from Washington. In June, OPEC and its partners will decide whether to extend their agreement, but Russia’s willingness to stick with the cuts now looks less clear. Based on technical chart, analysis correction is due as prices are facing hurdle at 4500 levels. A breach below 4380 levels can open the doors towards 4000 levels which can be considered as good buying opportunity in crude. On weekly basis Crude may faces strong resistance in the range of 4520-4540 levels whereas could find support near 4300 levels. U.S. Natural gas futures slipped to its lowest in almost three years. Due to a warmer than normal winter in China & spring shoulder period, demand has declined and will not likely receive a boost until June. LNG exports decline putting pressure on Natural gas price.
ENERGY COMPLEX
Cotton futures (Apr) is expected to hover range bound within 22000-22600 levels. Restricted arrivals are slowing down the pace of overseas demand due to which cotton exports from the country are pegged at 47 lakh bales (one bale weighs 170kg) in 2018-19, which is the lowest since 2009-10. Chana futures (May) may trade with a negative bias & selling from higher levels near 4570 may bring the counter down to 4430. The expectation of country importing more pulses & lack of demand in the spot markets due to absence of bulk buying will exert pressure on pulses in days to come. Recently, the Commerce Ministry has laid down a procedure for import of 2 lakh tonnes of pigeon peas/ toor dal, 1.5 lakh tonnes urad dal, 1.5 lakh tonnes moong dal and 1.5 lakh tonnes peas (including yellow peas, green peas, dun peas, and kaspa peas) for the current fiscal and has invited applications from millers. Next week, we may see more downside in guar seed & guar gum futures (May) and it may test 4250-4200 & 8600-8500 levels respectively. The reason for this bearishness is the forecast of good monsoon & guar being a rain-fed crop, this is a major negative factors for the prices. The Australian Bureau of Meteorology (BoM) has updated that El Nino would be short-lived and weak. This forecast is supporting the India Met Department (IMD) outlook that monsoon would be close to normal. The BoM has also mentioned that the Indian Ocean Dipole (IOD) could possibly turn into a positive phase during June to November, giving way to a healthy Indian monsoon.
OTHER COMMODITIES
Base metal counter are expected to trade sideways with downside getting capped owing to optimistic sentiments prevailing on the international market. China's economy grew at a steady 6.4 percent pace in the first quarter, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement. Copper may trade sideways in the range of 465-445 levels on MCX. Copper prices hit a nine-month high on Wednesday as firmer-than-expected economic growth figures from China boosted expectations for higher demand in the world's top metals consumer. Benchmark copper touched its highest since July 3. Technically, Zinc may trade with bearish bias break below 220 levels can take counter towards 217-215 levels whereas it can faces resistance at 232 levels. Lead can move in sideways range of 130-136 levels; break and sustain above 136 levels can take counter towards 142 levels whereas another scenario indicates that break below 130 levels can take towards 126 levels. Nickel may hover in the negative zone in the range of 860-895 levels. Shanghai nickel and zinc fell 1.1% and 0.8 percent, respectively, mirroring a decline in the Chinese ferrous complex. Aluminum prices may trade in the range of 143-155 levels. China's aluminium production fell 3.6 percent on a daily basis in March from the previous two months to its lowest rate since October, pressured by winter curbs on industry and low prices. This pushed Shanghai aluminium up as high as 13,995 yuan ($2,092.59) a tonne, its highest intra-day level since December.
BASE METALS
11
TREND SHEET
NCDEX closing as on 16.04.19 and MCX closing as on 17.04.19
MCX GOLD JUN 31480.00 16.40.19 Down 31500.00 - 32300.00 32350.00
PRICE CHANGED CHANGED STOP/LOSS
MCX LEAD APR 134.10 11.04.19 Down 135.00 - 140.00 141.00
NCDEX CHANA MAY 4516.00 24.02.19 Sideways 4050.00 4200.00 4700.00 -
MCX COPPER APR 455.10 16.01.19 UP 421.45 438.00 - 435.00
NCDEX CASTOR MAY 5888.00 10.04.19 UP 5720.00 5600.00 - 5570.00
MCX MENTHA OIL APR 1497.60 21.01.19 Down 1551.90 - 1550.00 1560.00
MCX CPO APR 541.40 07.03.18 Down 547.00 - 552.00 553.00
MCX ZINC APR 226.60 15.03.19 Sideways 180.00 218.00 232.00 -
NCDEX REF.SOY OIL MAY 718.95 11.03.19 Down 743.00 - 735.00 737.00
MCX NATURAL GAS APR 175.40 21.01.19 Down 217.90 - 188.00 190.00
NCDEX COCUD MAY 2410.50 01.01.19 UP 1940.50 2320.00 - 2300.00
NCDEX JEERA MAY 16650.00 22.01.19 Down 16955.00 - 17200.00 17300.00
MCX SILVER MAY 37210.00 11.04.19 Down 37000.00 - 38300.00 38500.00
NCDEX SOYABEAN MAY 3745.00 27.03.19 Sideways 3650.00 3600.00 3900.00 -
NCDEX GUARSEED MAY 4359.50 20.03.19 UP 4350.00 4200.00 - 4170.00
MCX CRUDE OIL MAY 4464.00 11.03.19 UP 3990.00 4250.00 - 4220.00
NCDEX RMSEED MAY 3773.00 11.03.19 Down 3969.00 - 3950.00 3970.00
EXCHANGE COMMODITY CONTRACT CLOSING DATE TREND TREND RATE TREND SUPPORT RESISTANCE CLOSING
MCX NICKEL APR 892.40 07.03.19 Down 940.00 - 920.00 925.00
MCX ALUMINIUM APR 148.40 11.03.19 UP 143.00 143.00 - 142.00
TECHNICAL RECOMMENDATIONS
CRUDE OIL MCX (MAY) contract closed at Rs.4438 on 17th Apr’19. The contract made its
high of Rs.4516 on 09th Apr’19 and a low of Rs.3942 on 08th Mar’19. The 18-day
Exponential Moving Average of the commodity is currently at Rs. 4339.On the daily
chart, the commodity has Relative Strength Index (14-day) value of 62.03.
One can buy at Rs. 4300 for a target of Rs.4700 with the stop loss of Rs. 4200.
NICKEL MCX (APR) contract closed at Rs. 892.50 on 17th Apr’19. The contract made its
high of Rs. 973.50 on 05th Mar’19 and a low of Rs. 876.40 on 18th Apr’19. The 18-day
Exponential Moving Average of the commodity is currently at Rs. 900.20. On the daily
chart, the commodity has Relative Strength Index (14-day) value of 39.77.
One can sell around Rs. 895-900 for a target of Rs. 850 with the stop loss of Rs. 920.
One can buy at Rs. 16500 for a target of Rs. 17200 with the stop loss of Rs 16200.
JEERA NCDEX (MAY) contract closed at Rs. 16650.00 on 18th Apr’19. The contract made
its high of Rs. 16935.00 on 18th Apr’19 and a low of Rs. 15,090 on 25th Feb’19. The 18-
day Exponential Moving Average of the commodity is currently at Rs. 16222.00. On the
daily chart, the commodity has Relative Strength Index (14-day) value of 74.633.
NEWS DIGEST
Among agro commodities, castor turned out to be the leader as it maintained its uptrend on the
back of the stringent supply & estimates that production for 2018-19 is estimated to decline by
21.37% as compared to the last year. Cardamom also rose to two month high as the scorching
heat and lack of summer rain are drying up the plantation as well as lowering the expectations of
good crop this season. Jeera maintained it bull-run owing to the rising optimism of better
exports from India, being the sole supplier in the international market. On the contrary, guar
complex crashed amidst the report that monsoon is expected to be near to normal, while
turmeric prices were hammered by rising arrivals from fresh ongoing harvest in the major
producing regions.
Commodities traded in pressure with higher volatility bolstered by signs of stabilization in
China. Many commodities, especially; precious metals reacted negatively as progress in US-
China trade talks lifted risk sentiment. China’s economy grew by 6.4 percent in the first quarter,
official data showed, defying expectations for a further slowdown and assuaging global
markets. In the bullion counter, both gold and silver were weak; however, gold was
comparatively weak. Dollar index stuck in sideways territory but a bearish move could happen,
if the US retail sale shows a big drop in consumer spending. Brent oil surged to its highest level in
2019, backed by steady economic growth in China and a fall in US crude inventory which defied
expectations and signalled firm demand, while global supply remained tight. Refinery
throughput in China - the world's second-largest crude user - rose 3.2% in March from a year
earlier. Global supply has been tightened further by US sanctions on OPEC members Venezuela
and Iran. Iran's crude exports have dropped in April to their lowest daily level this year, tanker
data showed and industry sources said, suggesting a drawdown in buyer interest ahead of
expected further pressure from Washington. In June, OPEC and its partners will decide whether
to extend their agreement, but Russia's willingness to stick with the cuts now looks less clear.
Due to a warmer than normal winter in China & spring shoulder period, demand has declined and
will not likely receive a boost until June. LNG exports decline putting pressure on Natural gas
price, the weather is expected to be normal over the next 8-14 days.
12
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
WEEKLY COMMENTARY
COTTON BALES 211900.00 209600.00 -2300.00
MENTHA OIL KGS 196650.90 179363.05 -17287.85
ALUMINIUM MT 4.81 4.81 0.00
COMMODITY UNIT 10.04.19 16.04.19 DIFFERENCE
QTY. QTY.
SILVER (30 KG Bar) KGS 8498.52 4182.14 -4316.38
GOLD GUINEA KGS 3.10 3.10 0.00
GOLD MINI KGS 6.50 6.50 0.00
GOLD KGS 20.00 20.00 0.00
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
WHEAT MT 0 3081 3081
GUARSEED MT 22510 22480 -30
JEERA MT 386 632 246
SOYBEAN MT 83499 75634 -7865
QTY. QTY.
COMMODITY UNIT 11.04.19 17.04.19 DIFFERENCE
TURMERIC MT 1153 1499 346
RM SEED MT 27668 35266 7598
CASTOR SEED MT 55901 64627 8726
GUARGUM MT 14030 13288 -742
CORIANDER MT 1601 1907 306
COCUD MT 45101 44339 -762
CHANA MT 27727 38639 10912
BARLEY MT 3240 4831 1591
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
• China’s economy expanded by 6.4 percent in the first
quarter of 2019.
• World Steel Association forecasts global steel demand
will reach 1735 million tonnes (mt) in 2019, an increase
of 1.3% over 2018. In 2020, demand is projected to grow
by 1.0% to reach 1752 mt.
• Eurozone seasonally adjusted trade surplus rose to EUR
19.5 billion in February from EUR 17.4 billion in January,
figures from Eurostat showed.
• The world merchandise trade volume growth to fall to
2.6% in 2019, as compared to 3% in 2018. Trade growth
could then rebound to 3.0% in 2020; however, this is
dependent on an easing of trade tensions. - WTO
• The monsoon seasonal (June to September) rainfall is
likely to be 96% of the Long Period Average (LPA) with a
model error of ± 5% - India Meteorological Department
• The overall import of vegetable oils during November
2018 to March 2019 is reported at 6,309,406 tons
compared to 5,931,829 tons i.e. up by 6%.
• India's cotton output estimated to fall 7.87% to 343 lakh
bales. - Confederation of Indian Textile Industry (CITI)
• The Federal Reserve said US economic activity expanded
at a slight-to-moderate pace in March and early April.
The US trade deficit also narrowed to $49.4 billion in
February from $51.1 billion in January.
5.50%
3.57%
3.02%
1.33%
0.90%
-6.00%
-4.00%
-2.00%
0.00%
2.00%
4.00%
6.00%
8.00%
CASTOR SEED CARDAMOM MENTHA OIL CPO COPPER NATURAL GAS ZINC MINI GOLD RBD PALMOLEIN NICKEL MINI
-5.04%
-3.17%
-1.20%-0.99% -0.86%
2.98%
1.23%1.03%
0.18%0.05%
-6.00%
-5.00%
-4.00%
-3.00%
-2.00%
-1.00%
0.00%
1.00%
2.00%
3.00%
4.00%
MAIZE BARLEY JEERA COTTON WHEAT CASTOR SEED GUARGUM TURMERIC GUAR SEED COCUD
-4.63%
-3.79%
-3.45%
-3.06%
-1.79%
COMMODITY
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
SPOT PRICES (% change) “Normal” Monsoon....... may boost business sentiment
13
COMMODITY EXCHANGE CONTRACT 12.04.19 17.04.19 CHANGE%
ALUMINIUM LME CASH 1843.50 1840.50 -0.16
LEAD LME CASH 1910.00 1930.00 1.05
COPPER LME CASH 6490.00 6509.00 0.29
NICKEL LME CASH 12945.00 12950.00 0.04
ZINC LME CASH 3010.00 2927.00 -2.76
LIGHT CRUDE OIL NYMEX MAY 63.89 63.76 -0.20
GOLD COMEX JUNE 1295.20 1276.80 -1.42
SILVER COMEX MAY 14.96 14.94 -0.16
NATURAL GAS NYMEX MAY 2.66 2.52 -5.38
ZINC 52550 66475 13925
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
COPPER 197525 190500 -7025
ALUMINIUM 1090625 1068325 -22300
NICKEL 179442 177198 -2244
LEAD 78125 75450 -2675
11.04.19 17.04.19
• The sea surface temperature (SST) conditions over the Pacific (El Niño/La
Niña) and Indian Oceans (Indian Ocean Dipole-IOD) which are known to have
strong influence on
Indian monsoon are
be i ng con t i nuou s l y
monitored.
• Rainfall below 90 per
cent of the average is
considered deficient,
above normal at 105-110
per cent, and excessive
above 110 per cent
• Forecast suggests that the 2019 Southwest monsoon rainfall is likely to be near
normal. However, there is very less chance for the monsoon rainfall to be
above normal or excess.
IMD will issue the second stage Monsoon-2019 Forecast during the first week of
June, 2019
According to India Meteorological Department (IMD) report, which was released on
15th April, Southwest monsoon seasonal (June to September) rainfall over the
country as a whole is likely to be near normal. Quantitatively, the monsoon
seasonal (June to September) rainfall is likely to be 96% of the Long Period Average
(LPA) with a model error of ± 5%. The LPA of the season rainfall over the country as a
whole for the period 1951-2000 is 89 cm. El Niño, generally associated with low
rainfall, is expected to be weak during the start of the monsoon season in June with
reduced intensity in the later part of the season. Overall, the country is expected
to have well distributed rainfall scenario during the 2019 monsoon season, which
will be beneficial to farmers in the country during the ensuing kharif season.
According to the weather department, there is 39% probability of normal rainfall,
32% probability of below normal and 17% probability of deficient rains. There are
low chances of the monsoon rainfall being above normal (10%) or in excess (2%).
Highlights
If the forecast turn out well, this will provide much-needed relief to the rural,
agriculture sector in terms of agri output, which is under stress due to previous
year’s poor seasonal rainfall. Though the impact of agriculture on the economy has
come down over the years, it still is an important factor to the rural economy and
its cascading effect on India Inc’s balance sheet. Agriculture, which contributes 15
per cent to India's GDP and employs about 60 per cent of the country's population,
is heavily dependent on the monsoon as only 40 per cent of the cultivable area is
under irrigation. It also augurs well for the inflation outlook. Rice, soybean and
pulses could be well benefitted by normal rainfall in central and western India;
these crops are mainly grown on rainfed areas. Higher farm sector growth would
push up India's economic growth. A clearer picture & detailed forecasts on regional
distribution will be made in early June, by when more information on El Niño and
the IOD is available. Till then, it is fingers crossed.
Impact on Indian economy
The monsoon was dismal in 2018 ending with an overall deficit of 9.4%, pushing
several states—including Maharashtra, Andhra Pradesh, Jharkhand, Karnataka,
Gujarat, Telangana, Rajasthan and Madhya Pradesh—into drought.
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 12.04.19 17.04.19 CHANGE(%)
Cotton ICE MAY Cents per Pound 78.11 78.11 0.00
Soybean CBOT MAY Dollars Per Bushel 8.95 8.79 -1.82
Soy oil CBOT MAY Cents per Pound 28.95 28.46 -1.69
CPO BMD JULY MYR per MT 2162.00 2205.00 1.99
Source: IMD
-4.52
-1.22
-0.99
-0.79
-0.44
-0.23
-0.07
0.10
0.11
0.19
0.23
0.27
0.47
0.80
0.89
1.82
TURMERIC (NIZAMABAD)
WHEAT (DELHI)
SUGAR (KOLKATA)
PEPPER MALABAR GAR (KOCHI)
GUAR GUM (JODHPUR)
SOYABEAN (INDORE)
RAW JUTE (KOLKATA)
COTTON SEED OIL CAKE (AKOLA)
BARLEY (JAIPUR)
GUAR SEED (JODHPUR)
JEERA (UNJHA)
COTTON (KADI)
CRUDE PALM OIL (KANDLA)
MUSTARD (JAIPUR)
CORIANDER (KOTA)
GUR (MUZAFFARNGR.)
CURRENCY
Currency Table
GBP/INR 90.91 91.37 90.70 91.2650
EUR/INR 78.23 78.9675 78.23 78.86
USD/INR 69.2975 69.7825 68.80 69.69
JPY/INR 62.1150 62.4425 61.91 62.3675
Currency Pair Open High Low Close
News Flows of last week
(* NSE Currency future, Source: Reliable, Open: Monday 9.00 AM IST, Close: Tuesday (5.00 PM IST)
16th APR BofA-ML sees RBI slashing rates by another 25 bps in June.
16th APR BOJ's Kuroda vows to patiently continue current monetary stimulus.
16th APR Trump’s Tax Overhaul is curbing housing activity, says Fed
Researchers.
15th APR RBI net buyer of dollar for 3rd month in a row, snaps up $825 m in
February.
15th APR UK fears Brexit could hurt global hunt for new BoE governor.
16th APR ECB to keep policy accommodative until inflation recovers: Villeroy.
Market Stance
Indian Rupee was drifted lower against a dollar amid uptick in domestic inflation.
Brent above $70 is gradually turning headwind for Rupee, which advanced last month
backed by surge in foreign flows. So far this month, FIIs sold equities and debt worth
$556.52 mln. Positioning in FX and Bonds are light as participants are taking cautious
approach ahead of election outcome. On global front, Euro remains lifted despite
weak fundamentals. Mitsubishi Financial Group is planning to purchase Aviation
Financing business of German’s DZ Bank for $6.3bln. The deal likely to close by June
end which is upturning bids in Euro based on flows. Bunch of Chinese economic data
this week – growth, activity and spending hinting the downturn in the economy is
bottoming-out, rather the PBoC’s stimulus is driving the momentum. The Chinese
equities hardly painted optimism as Shanghai’s Composite Index rose by only 0.3% and
Hang-Seng was edged down. Next week business survey from Germany and advanced
estimates growth number from US will be key to watch. USDINR is likely to stay above
68.80 and move higher towards 69.95
14
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 52.76.
One can sell at 78.90 for a target of 78.30 with the stop loss of 79.20.
EUR/INR (APR) contract closed at 78.86 on 16th Apr’ 19. The contract made its
high of 78.9075 on 9th Apr’19 and a low of 77.9625 on 11th Apr’19 (Weekly Basis).
The 14-day Exponential Moving Average of the EUR/INR is currently at 78.56
EUR/INR
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of
48.99. One can buy at 69.15 for the target of 69.75 with the stop loss of 68.85.
USD/INR (APR) contract closed at 69.69 on 16th Apr’ 19. The contract made its
high of 69.9825 on 9th Apr’19 and a low of 69.0050 on 11th Apr’ 18 (Weekly Basis).
The 14-day Exponential Moving Average of the USD/INR is currently at 69.49
USD/INRTechnical Recommendation
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 50.70.
One can sell at 91.20 for a target of 90.60 with the stop loss of 91.50.
GBP/INR (APR) contract closed at 91.2650 on 16th Apr’ 19. The contract made its
high of 91.60 on 9th Apr’19 and a low of 90.3475 on 11th Apr’18 (Weekly Basis).
The 14-day Exponential Moving Average of the GBP/INR is currently at 91.19
GBP/INR
JPY/INR (APR) contract closed at 62.3675 on 16th Apr’ 19. The contract made its
high of 62.8825 on 9th Apr’19 and a low of 62.18 on 11th Apr’19 (Weekly Basis).
The 14-day Exponential Moving Average of the JPY/INR is currently at 62.47
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 50.84.
One can sell at 62.40 for a target of 61.80 with the stop loss of 62.70.
JPY/INR
Economic gauge for the next week
Date Currency Event Previous
24th APR EUR German Ifo Business Climate 99.6
24th APR GBP Public Sector Net Borrowing -0.7B
25th APR USD Durable Goods Orders m/m -1.6%
25th APR USD Core Durable Goods Orders m/m 0.1%
25th APR JPY BOJ Outlook Report
25th APR JPY BOJ Press Conference
26th APR INR Foreign Exchange Reserves 19-APR -
25th APR JPY Monetary Policy Statement
IPOIPOIPOIPO
15
IPO NEWS
The government aims to raise over 15 bln rupees from initial public offerings in railway companies Indian Railway Catering and Tourism Corp Ltd and Indian
Railway Finance Corp Ltd in the first half of the current financial year started April. The Cabinet Committee on Economic Affairs had in April 2017 approved listing
five railway companies–IRCON International, Rail Vikas Nigam, IRFC, RITES Ltd, and Indian Railway Catering and Tourism Corp. Of these, IRCON International and
RITES were listed in 2018-19 (Apr-Mar). The government aims to raise 900 bln rupees through divestment in 2019-20, compared with 853 bln rupees raised last
year.
Polycab India closes with 22% premium at Rs 655 on the listing day
Shares of wires and cables manufacturer Polycab India had a stellar rally on April 16, the first day of trading on exchanges, amid strong market conditions and
after healthy subscription. The Rs 1,345-crore public issue saw a massive subscription of 51.96 times during April 5-9, 2019.
Sterling and Wilson files paper for Rs 4,500-cr IPO
Sterling and Wilson, a solar engineering, procurement and construction firm promoted by Shapoorji Pallonji, has filed draft papers with markets regulator Sebi
to raise about Rs 4,500 crore through an initial public offer. The IPO will be an offer for sale by the company's chairman Khurshed Yazdi Daruvala and Shapoorji
Pallonji and Company, according to the Draft Red Herring Prospectus (DRHP). ICICI Securities, Axis Capital, Credit Suisse Securities (India), Deutsche Equities
India, IIFL Holdings, SBI Capital Markets are the global coordinators and book running lead managers. IndusInd Bank and YES Securities (India) are the book
running lead managers to the issue. The shares of Sterling and Wilson are proposed to be listed on BSE and NSE. Sterling and Wilson is a global pure-play, end-to-
end solar EPC solutions provider. The company's order book was Rs 4,309.09 crore as of December 31, 2018. The company has operations in 26 countries, and use
its subsidiaries and branch offices globally for operations.
Govt aims over 15 bln rupees from IRCTC, IRFC IPOs by Sep-end
Real estate firm Shriram Properties has received market regulator Sebi's go-ahead to float an initial public offering (IPO) through which it plans to raise about Rs
1,250 crore. The firm, which approached the regulator in December 2018 seeking its clearance to launch IPO, obtained Sebi's "observations" on April 9, according
to the latest update with the market watchdog. Sebi's observations are necessary for any company to launch public issues such as IPO, follow-on public offer and
rights issue. According to draft papers, the IPO comprises fresh issue aggregating up to Rs 250 crore besides an offer for sale of up to 42,403,271 shares by existing
shareholders, including Tata Capital Financial Service and TPG Asia, draft papers filed with Sebi showed. The company is looking to consider a pre-IPO placement
of up to Rs 100 crore. Funds raised through the issue would be utilised for repayment of certain borrowings availed by the company or its subsidiaries and for
general corporate purposes. Axis Capital, Edelweiss Financial Services, JM Financial and Nomura Financial Advisory and Securities will manage the company's
public issue.
Shriram Properties gets Sebi nod for IPO
*Closing price as on 17-04-2019
IPO TRACKER
Xelpmoc Design IT 101.49 23.00 4-Feb-18 66.00 56.00 73.25 10.98
Garden Reach Shipbuilding Ship Building 1168.49 345.00 10-Oct-18 118.00 104.00 101.70 -13.81
Lemon Tree Hotels ltd Hotel 6225.55 1038.00 9-Apr-18 56.00 61.60 82.50 47.32
RITES Limited Railway 5066.20 460.00 6-Jul-18 185.00 190.00 253.25 36.89
Fine Organic Industries Limited FMCG 4135.31 600.00 6-Jul-18 783.00 815.00 1334.90 70.49
Varroc Engineering Limited Auto Ancillary 7954.40 1945.00 6-Jul-18 967.00 1015.00 587.50 -39.25
AAVAS Financiers Ltd NBFC 9016.58 1734.00 8-Oct-18 821.00 758.00 1146.20 39.61
CreditAccess Grameen Ltd. NBFC 7434.61 1131.00 23-Aug-18 422.00 393.00 515.85 22.24
MSTC Ltd Trading 763.84 212.00 29-Mar-19 128.00 111.00 108.50 -15.23
Rail Vikas Nigam Ltd Railway 5348.42 481.57 11-Apr-19 19.00 19.00 25.60 34.74
TCNS Clothing Co. Limited Retail 5060.46 1125.00 30-Jul-18 716.00 715.00 819.50 14.46
HDFC Asset Management Co AMC 33660.73 2800.00 6-Aug-18 1100.00 1726.25 1578.40 43.49
Ircon International Ltd Railway 3891.85 470.00 28-Sep-18 475.00 410.30 413.80 -12.88
Indostar Capital Finance Ltd NBFC 3831.79 1844.00 21-May-18 572.00 600.00 415.80 -27.31
Karda Construction Ltd Construction 221.54 78.00 2-Apr-18 180.00 136.00 179.10 -0.50
Chalet Hotels Hotels & Restaurants 6702.40 1641.00 7-Feb-18 280.00 294.00 333.45 19.09
ICICI Securities Ltd Broking House 7299.93 4016.00 4-Apr-18 520.00 431.10 225.85 -56.57
Sandhar Technologies Ltd Auto Industry 1587.42 513.00 2-Apr-18 332.00 345.00 264.50 -20.33
Metropolis Healthcare Limited Healthcare 4826.12 1204.00 15-Apr-19 880.00 960.00 983.85 11.80
Polycab India Ltd Cable 9733.33 1346.00 16-Apr-19 538.00 633.00 655.00 21.75
Company Sector M.Cap (In Rs Cr.) Issue Size (in Rs Cr.) List Date Issue Price List Price Last Price %Gain/Loss*
Mishra Dhatu Nigam Ltd Metal 2565.17 439.00 4-Apr-18 90.00 87.00 136.45 51.61
FIXED DEPOSIT MONITOR
* Interest Rate may be revised by company from time to time. Please confirm Interest rates before submitting the application.
* For Application of Rs.50 Lac & above, Contact to Head Office.
* Email us at [email protected]
FIXED DEPOSIT COMPANIES
PERIOD ADDITIONAL RATE OF INTEREST (%) MIN.
INVESTMENTS.NO (NBFC COMPANY -NAME)
12M 18M 24M 36M 45M 48M 60M 84M
SR. CITIZEN BENEFIT: 0.25% EXTRA FOR
12M TO 35M & 0.40% EXTRA FOR 36M TO 120M
OR 0.05% EXTRA FOR WOMEN CUSTOMERS
0.40% EXTRA FOR SR CITIZEN,WIDOW, EXISTING DHFL HOME BORROWERS & DHFL MORTGAGE & SME LOAN CUSTOMERS, 0.15% EXTRA FOR RENEWAL BUT APP SHOULD REACH IN COMPANY BEFORE DUE DATE.
(Rs.)
96-120M=7.75%; 0.25% FOR FEMALE, SENIORCITIZEN & TRUST
HDFC LTD- PREMIUM DEPOSIT FOR INDIVIDUAL(UPTO RS. 2 CR.)
DEWAN HOUSING FINANCE CORPORATION LTD
FOR < RS. 5 CRORE
DEWAN HOUSING FINANCE CORPORATION LTD
(AASHRAY) FOR < RS. 5 CRORE
0.35% EXTRA FOR SR. CITIZEN OR 0.25% EXTRAFOR EXISTING CUSTOMER (2 MONTH GAP INFIRST & SECOND DEPOSIT) & 0.25% EXTRA IN RENEWAL UPTO RS.5 CR.
AADHAR HOUSING FINANCE LTD. (< RS. 5 CR.)
(FOR TRUST ONLY) (FOR WOMEN ONLY)
0.25% FOR SENIOR CITIZEN UPTO RS. 2 CR.
0.50% ADD. INTEREST TO SR. CITIZEN,EMPLOYEES,SHAREHOLDERS AND PERSON INVESTING RS. 5 LACS AND ABOVE - MAX. 0.50%
20000/- BUT
40000/-
IN MONTHLY
8.50 8.75 9.00 - 9.00 9.00 8.801
8.00 15M=8.05% 8.15 8.75 - 8.75 8.75 -2 BAJAJ FINANCE LTD.(UPTO RS. 5 CR.)
5000/-
413M=8.50% 14M=8.55% 18M=8.55% 40M=9.25%
25000/-
5000/-
5 8.50 - 8.75 9.25 - 9.25 9.25 9.25 5000/-
7.75 13M=7.75 7.75 8.00 - 8.00 8.00 8.258 GRUH FINANCE LTD. 1000/-
9 15M=8.03 22M=8.14 30M=8.08 44M=8.14
HDFC LTD- SPECIAL DEPOSIT FOR INDIVIDUAL(UPTO RS. 2 CR.)
0.25% FOR SENIOR CITIZEN UPTO RS. 2 CR.33M=8.19 - - 66M=8.19 - -
HDFC LTD- REGULAR DEPOSIT FOR INDIVIDUAL(UPTO RS.2 CR.)
0.25% FOR SENIOR CITIZEN UPTO RS. 1 CR.7.98 - 7.98 7.98 - 7.98 7.98 -
HDFC LTD- REGULAR FOR INDIVIDUAL & TRUST(>RS.2 CR TO RS. 10 CR)
0.25% FOR SENIOR CITIZEN UPTO RS. 1 CR.8.24 - 8.24 8.24 - 8.24 8.24 -
HDFC LTD- PREMIUM DEPOSIT FOR TRUST &INSTITUTION (UPTO RS. 2 CR.)
-13 15M=8.19 - - 30M=8.19 - -
HDFC LTD- SPECIAL DEPOSIT FOR TRUST(UPTO RS. 2 CR.)
0.25% FOR SENIOR CITIZEN UPTO RS. 2 CR.33M=8.24 - - 66M=8.24 - -14
HDFC LTD- REGULAR DEPOSIT FOR TRUST &INSTITUTION (UPTO RS.2 CR.)
0.25% FOR SENIOR CITIZEN UPTO RS. 1 CR.8.08 - 8.08 8.08 - 8.08 8.08 -15
7.50 - 7.50 7.50 - 7.25 7.25 -HUDCO LTD.(IND & HUF) 10000/-16 0.25% FOR SENIOR CITIZEN
7.25 - 7.25 7.25 - 7.00 7.00 -HUDCO LTD.(TRUST/CO/INSTITUTION) 10000/-17 -
8.00 - 8.25 8.35 - - - -J K LAKSHMI CEMENT LTD18
0.50% ADD. INTEREST TO SR. CITIZEN,EMPLOYEES, SHAREHOLDERS AND PERSONINVESTING RS. 5 LACS AND ABOVE - MAX. 0.50%
8.00 - 8.25 8.35 - - - -J K TYRE INDUSTRIES LTD.19
8.50 - 8.50 8.50 - 8.25 8.25 -KTDFC (KERALA TRANSPORT) 10000/-20 0.25% EXTRA FOR SR. CITIZEN
8.15 8.15 8.20 8.25 - - 8.30 -LIC HOUSING FINANCE LTD.(UPTO RS. 25 CR.) 10000/-210.25% FOR SENIOR CITIZEN IF APP ABOVE RS. 50,000/- & 0.10% IF APP UPTO RS. 50,000/-
M&M FINANCIAL SERVICES LTD(FOR BELOW RS. 1 CRORE) 8.10 8.10 8.50 8.80 - 8.80 8.80 -22 10000/-0.25% FOR SENIOR CITIZEN
10.50 - 11.00 11.50 - - - -OMAXE LTD23 -
8.30 - 8.30 8.40 - 8.40 8.45 8.30PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.)
10000/-
24 0.25% EXTRA FOR SR. CITIZEN UPTO RS.1 CRORE
15M=8.30 22M=8.35 30M=8.30 44M=8.45 PNB HOUSING FINANCE LTD.(UPTO RS. 5 CR.)25 0.25% FOR SENIOR CITIZEN
8.25 - 8.50 9.00 - 9.00 9.25 -SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME 5000/-260.25% FOR SENIOR CITIZEN,0.25% EXTRA FOR RENEWALS
8.25 - 8.50 9.00 - 9.00 9.25 -SHRIRAM CITY UNION SCHEME 5000/-270.25% FOR SENIOR CITIZEN,0.25% EXTRA FOR RENEWALS
7.75 8.00 8.00 8.00 - 8.25 8.25 8.003 CENT BANK HOME FINANCE (ONLY RENEWAL)
CUM-5000/-NON CUM-
10000/-
12
0.25% FOR SENIOR CITIZEN
0.40% EXTRA FOR SR CITIZEN,WIDOW, EXISTING DHFL HOME BORROWERS & DHFL MORTGAGE & SME LOAN CUSTOMERS, 0.15% EXTRA FOR RENEWAL BUT APP SHOULD REACH IN COMPANY BEFORE DUE DATE.
DEWAN HOUSING FINANCE CORPORATION LTD
FOR RS. 5 CRORE & ABOVE
DEWAN HOUSING FINANCE CORPORATION LTD
(AASHRAY) FOR RS. 5 CRORE & ABOVE
(FOR TRUST ONLY) (FOR WOMEN ONLY)6
13M=8.75% 14M=8.75% 18M=8.75% 40M=9.25% 5000/-
7 8.75 - 8.85 9.25 - 9.25 9.25 9.25 5000/-
10
11
16
INDUSTRY & FUND UPDATE
Canara Robeco Mutual Fund seeks SEBI nod for overnight debt scheme
Mutual fund industry adds over 1 crore new folios in FY19
HDFC Mutual Fund has announced merger of a number of options
Mirae Asset Mutual Fund seeks SEBI nod for midcap fund
Growing investor interest in mutual funds has led to an addition of over 1.11 crore new folios in the financial year 2018-19, taking the total to an all-time high of 8.24 crore at the end of March 2019. Although the additions were lower than the 1.6 crore investor accounts in FY18 fiscal, it was higher than 67 lakh folios added in FY17 and 59 lakh in FY16. Over the last few years, investor accounts have increased following robust contribution from retail investors, especially from smaller towns and huge inflows in equity schemes. Barring gilt funds and gold exchange-traded funds (ETFs), all categories registered addition in investor accounts. Folios of investor accounts fell by 1,778 as expectations of tight monetary policy and QE tightening by developed economies led to a lower interest in the gilt category.
Mirae Asset Mutual Fund has sought the Securities and Exchange Board of India's approval to launch Mirae Asset Midcap Fund, an open-ended debt scheme investing in midcap companies. The scheme will invest at least 65 percent of its assets in equity and equity-related securities of midcap companies, while up to 35 percent will be invested in equity and equity-related securities of companies other than midcap. It also has the provision to deploy up to 35 percent of its assets in money market instruments and units of debt and liquid schemes of domestic mutual funds.
Canara Robeco Mutual Fund has sought the Securities and Exchange Board of India's approval to launch Canara Robeco Overnight Fund, an open-ended debt scheme investing in overnight securities, according to the draft offer document on the regulator's website. The scheme will deploy its entire assets in overnight securities, which includes debt and money market instruments with overnight interest rate risk such as debt instruments with residual maturity of a single business day. Overnight securities also include synthetic overnight positions such as reverse repo/triparty repo and other derivative transactions, where the interest rate is reset every business day.
HDFC Mutual Fund has announced merger of a number of options. Accordingly, HDFC Floating Rate Debt Fund - Retail Option will be merged with HDFC Floating Rate Debt Fund - Wholesale Option. HDFC Liquid Fund – Premium Plan will be merged with HDFC Liquid Fund and HDFC Low Duration Fund - Wholesale Option shall be merged with HDFC Low Duration Fund - Retail Option. Post-merger, the merged options, namely HDFC Floating Rate Debt Fund - Wholesale Option and HDFC Low Duration Fund - Retail Option shall be renamed as HDFC Floating Rate Debt Fund and HDFC Low Duration Fund. The merger shall be effective from close of business hours of May 10, 2019.
MUTUAL FUND
17
NEW FUND OFFER
Opens on 10-Mar-2016
Scheme Name SBI Debt Fund Series B - 35 (1131 Days) - Regular Plan (G)
Min. Investment Rs.5000/-
Investment Objective To provide regular income and capital growth with limited interest rate risk to the investors through investments in a portfolio
comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing
on or before the maturity of the scheme.
Fund Class Growth
Fund Manager Rajeev Radhakrishnan
Closes on 22-Apr-2019
Fund Type Close-Ended
Investment Objective To provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject
to tracking error.
Min. Investment Rs.5000/-
Fund Type Open-Ended
Scheme Name INDIABULLS NIFTY50 EXCHANGE TRADED FUND
Fund Class Growth
Fund Manager Veekesh Gandhi / Malay Shah
Opens on 08-Apr-2019
Closes on 22-Apr-2019
Scheme Name Reliance Fixed Horizon Fund - XLI - Series 8 (3654D) - Regular Plan (G)
Closes on 22-Apr-2019
Fund Class Growth
Fund Type Close-Ended
Fund Manager Amit Tripathi
Min. Investment Rs.5000/-
Investment Objective To seek to generate returns and growth of capital by investing in a diversified portfolio.
Opens on 09-Apr-2019
Note: Indicative corpus are including Growth & Dividend option . The above mentioned data is on the basis of 17/04/2019Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
MUTUAL FUND Performance Charts
HDFC Long Term Advantage Fund-Growth 363.41 02-Jan-2001 1451.17 5.93 11.29 6.85 16.04 21.70 1.65 0.98 -0.05 72.61 8.12 17.19 2.07
Kotak Taxsaver - Reg - Growth 44.47 23-Nov-2005 888.53 7.09 11.82 8.10 14.45 11.78 1.60 0.94 -0.10 59.44 27.33 9.57 3.66
Axis Long Term Equity Fund - Growth 44.64 29-Dec-2009 17618.20 7.79 9.82 4.13 14.30 17.45 1.67 0.89 0.00 64.04 22.42 8.08 5.46
DSP Tax Saver Fund - Growth 48.72 18-Jan-2007 4828.61 8.22 13.09 4.95 14.72 13.80 1.74 1.00 -0.08 72.05 11.21 11.87 4.87
Franklin India Taxshield - Growth 578.07 10-Apr-1999 3743.38 6.42 9.23 4.98 10.99 22.45 1.53 0.90 -0.08 75.79 13.21 4.05 6.94
Returns (%) Risk Market Cap (%)
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
ICICI Pru Long Term Equity F (Tax Saving)-R-G 385.41 19-Aug-1999 5686.28 6.05 9.97 8.68 13.52 20.40 1.61 0.85 -0.07 68.74 14.44 9.46 7.36
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
Mirae Asset Tax Saver Fund-Reg-Growth 17.86 28-Dec-2015 1405.40 7.27 11.00 9.45 21.31 19.20 1.70 1.00 0.02 69.40 14.46 7.67 8.47
TAX Fund
HDFC Equity Fund - Growth 681.48 01-Jan-1995 20973.50 6.83 12.75 10.41 16.98 18.97 1.97 1.10 -0.05 82.16 11.22 6.10 0.52
Returns (%) Risk Market Cap (%)
SBI Magnum Equity ESG Fund - Growth 105.60 01-Jan-1991 2143.40 6.74 11.64 9.77 12.45 14.44 1.56 0.96 -0.05 90.16 7.07 N.A 2.77
Reliance Large Cap Fund - Growth 35.85 08-Aug-2007 11656.00 6.96 13.35 11.86 16.69 11.53 1.79 1.02 -0.01 80.34 13.41 3.57 2.68
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
Axis Bluechip Fund - Growth 28.66 05-Jan-2010 4169.29 7.02 11.87 10.02 15.18 12.01 1.39 0.78 0.06 89.06 N.A N.A 10.94
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Mirae Asset India Equity Fund - Reg - G 51.76 04-Apr-2008 10640.40 7.52 11.10 11.13 17.48 16.06 1.61 0.99 0.00 83.60 9.02 2.78 4.60
HDFC Top 100 Fund - Growth 503.58 11-Oct-1996 15452.70 7.62 12.17 13.32 16.78 20.05 1.79 1.05 -0.04 88.85 10.54 N.A 0.61
Canara Robeco Equity Diversified Fund-G 135.25 16-Sep-2003 937.07 6.93 11.75 9.28 15.32 18.18 1.51 0.91 -0.01 N.A N.A N.A N.A
EQUITY (Diversified)
AnnualisedAverage Yield till
Scheme Name NAV Launch QAAUM Since Std. Sharpe
1W 2W 1M 6M 1Y 3Y
Franklin India Dynamic Accrual Fund-G 66.59 05-Mar-1997 3805.07 -7.91 -9.48 3.82 11.01 8.18 9.05 8.95 8.30 0.11 2.85 10.93
Invesco India Ultra Short Term Fund - G 1914.53 30-Dec-2010 790.52 6.74 5.40 8.11 8.43 7.62 7.71 8.14 2.45 0.00 0.45 8.92
Axis Corporate Debt Fund - Reg - Growth 11.41 13-Jul-2017 240.62 1.87 -2.81 8.60 10.25 8.48 N.A 7.80 5.35 0.08 3.40 8.35
Kotak Corporate Bond Fund-Std-Growth 2476.68 21-Sep-2007 1409.52 3.57 0.56 8.31 9.61 8.17 7.92 8.15 4.37 0.06 1.09 8.01
Maturity (Years) Maturity (`) Date (`Cr.) Launch Dev.
Franklin India Credit Risk Fund - Growth 19.51 07-Dec-2011 7182.69 -13.36 -11.93 0.97 9.92 7.69 8.68 9.50 7.87 0.09 3.26 10.89
DSP Strategic Bond Fund - Reg - Growth 2169.87 12-Nov-2008 881.12 -4.03 -22.71 5.04 12.41 7.65 6.64 7.71 17.61 -0.10 8.01 8.15
Returns (%) Risk
Axis Banking & PSU Debt Fund - Growth 1743.90 08-Jun-2012 3091.24 -7.53 -16.15 4.09 12.04 8.40 7.79 8.45 9.12 0.06 2.80 7.63
INCOME FUND
Franklin India STIP - Growth 3992.46 31-Jan-2002 12433.50 -10.07 -10.58 3.84 10.87 8.34 9.11 8.37 8.02 0.14 2.89 11.11
Sundaram Banking & PSU Debt Fund - G 26.38 30-Dec-2004 989.39 -1.26 -9.14 6.01 11.02 7.16 6.55 7.01 10.27 -0.05 2.03 7.69
Returns (%) Risk
IDFC Bond Fund - Short Term Plan-Reg-G 38.09 14-Dec-2000 5391.53 -1.52 -8.11 5.84 10.41 7.39 7.05 7.56 8.02 -0.06 1.96 7.67
Maturity (Years) Maturity (`) Date (`Cr.) Launch Dev.
Sundaram Banking & PSU Debt Fund-R-G 29.26 30-Dec-2004 989.39 -1.26 -9.15 6.01 11.02 7.16 6.86 7.79 10.27 -0.05 2.03 7.69
Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe
1W 2W 1M 6M 1Y 3Y
IDFC Banking & PSU Debt Fund - Reg - G 16.03 07-Mar-2013 2843.30 -8.86 -19.32 4.13 13.01 8.54 7.10 8.03 11.17 0.00 3.59 7.80
Aditya Birla Sun Life Corp Bond Fund-R-G 71.78 03-Mar-1997 14957.60 2.25 -2.70 9.44 10.34 7.73 7.83 9.31 7.11 0.00 2.24 8.24
Kotak Dynamic Bond Fund - Reg - Growth 24.22 27-May-2008 593.22 -5.38 -14.00 6.13 12.48 8.43 8.36 8.46 12.62 0.01 5.55 8.54
SHORT Due to their inherent short term nature, Short term funds have been sorted on the basis of 6month returns
Annualised
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Mirae Asset Hybrid - Equity Fund-Reg-G 14.94 29-Jul-2015 1510.63 6.60 10.18 10.71 14.38 11.39 1.24 -0.01 58.76 9.44 4.83 26.97
JM Equity Hybrid Fund - Growth 47.25 01-Apr-1995 2147.32 3.47 4.74 6.10 8.77 11.61 0.81 -0.06 64.96 N.A 0.00 35.04
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
Canara Robeco Equity Hybrid Fund - G 159.04 01-Feb-1993 1923.31 5.46 9.19 7.23 12.77 11.28 1.08 -0.04 N.A N.A N.A N.A
SBI Equity Hybrid Fund - Growth 135.28 09-Oct-1995 28413.30 5.79 10.30 6.93 11.90 15.71 1.12 -0.01 53.18 9.93 8.08 28.80
Returns (%) Risk Market Cap (%)
Sundaram Equity Hybrid Fund - Reg - G 90.65 23-Jun-2000 1458.12 4.13 7.50 6.79 13.29 12.33 1.08 -0.04 51.75 20.93 2.34 24.98
ICICI Pru Equity & Debt Fund - Growth 135.64 03-Nov-1999 25914.10 5.44 8.18 6.41 14.01 14.34 1.21 -0.04 60.33 5.41 4.64 29.62
Franklin India Equity Hybrid Fund - G 121.55 10-Dec-1999 1939.25 5.60 8.40 5.51 9.61 13.77 1.10 -0.07 57.51 8.86 1.81 31.82
BALANCED
18
*Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Mr. Ajay Garg (CEO & Director, SMC Global Securities Ltd.), Mr. Pranay Aggarwal (Director, Moneywise Finvest Limited)
and Mr. Narendra Balasia (Regional Director, SMC Comtrade Ltd.) during Annual Budget
Meet held on 12th & 13th April, 2019 at Kolkata Office.
Mr. Pranay Aggarwal (Director, Moneywise Finvest Limited) along with SMC employees during the March monthbirthday celebration held at SMC Head Office and Daryaganj Branch, New Delhi.
Retirement se pehle bacchhon ko settle karna ho ya karni ho duniya ki sair,Toh aaj hi SMC sebaat karo.
Call Toll-Free 1800 11 0909Visit www.smcindiaonline.com
Customized Plans
Comprehensive Investment Solutions
Long-term Focus
Independent & Objective Advise
Financial Planning a
a
a
a
a
Broking - Equity, Commodity, Currency | Wealth Management | Investment
Banking | Insurance Broking | Real Estate Advisory | Distribution of IPOs,
MFs, FDs & Bonds | Financing | Institutional Broking | Mortgage Advisory |
Clearing Services | NRI & FPI Services | Research
D E L H I | M U M B A I | K O L K A T A | A H E M D A B A D | L U C K N O W | C H E N N A I | B E N G A L U R U | D U B A I
SMC Global Securities Ltd., CIN : L74899DL1994PLC063609 | SMC Comtrade Ltd., CIN No. U67120DL1997PLC188881Registered Address: 11/6-B, Shanti Chamber, Pusa Road, Delhi-110005, Tel +91-11-30111000 | website: www.smctradeonline.com
SEBI Reg. No. INZ000199438, Member: BSE (470), NSE (07714) & MSEI (1002), DP SEBI Regn. No. CDSL/NSDL-IN-DP-130-2015, Mutual Funds Distributor ARN No. 29345. SMC Comtrade Ltd. SEBI Regn. No. INZ000035839, Member: NCDEX (00021), MCX (8200) & ICEX (1010). SMC Investments and Advisors Limited, SEBI PMS Regn. No. INP000003435. SMC Insurance Brokers Pvt. Ltd. IRDAI Regn. No: DB 272/04 License No. 289 Valid upto 27/01/2020. Comtrade Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.
Disclaimer: Investments in securities market are subject to market risks, read all the related documents carefully before investing • PMS is not offered in commodity derivative segment • Insurance is the subject matter of
solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC
Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services
provided by SMC Comtrade Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.triverse
