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(Saurabh Jain)
Contents
Equity 4-7
Derivatives 8-9
Commodity 10-13
Currency 14
IPO 15
Fixed Deposit 16
Mutual Fund 17-18
EDITORIAL STAFF
Editor Saurabh Jain
Executive Editor Jagannadham Thunuguntla
+Editorial Team
Dr. R.P. Singh Nitin Murarka
Vandana Bharti Tejas Seth
Sandeep Joon Dinesh Joshi
Vineet Sood Shitij Gandhi
Dhirender Singh Bisht Subhranil Dey
Parminder Chauhan Ajay Lakra
Mudit Goyal
Content Editor Kamla Devi
Graphic Designer Pramod Chhimwal
Research Executive Sonia Bamba
REGISTERED OFFICES:
11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.
Tel: 91-11-30111000, Fax: 91-11-25754365
MUMBAI OFFICE:
Dheeraj Sagar, 1st Floor, Opp. Goregaon sports Club, Link Road
Malad (West), Mumbai 400064
Tel: 91-22-67341600, Fax: 91-22-28805606
KOLKATA OFFICE:
18,Rabindra Sarani, Poddar Court, Gate No-4, 4th & 5th Floor,
Kolkata-700001
Tel : 91-33-39847000/39801300, Fax No : 91-33-39847004
AHMEDABAD OFFICE :
10/A, 4th Floor, Kalapurnam Building, Near Municipal Market,
C G Road, Ahmedabad-380009, Gujarat
Tel : 91-79-26424801 - 05, 40049801 - 03
CHENNAI OFFICE:
2nd Floor, Mookambika Complex, 4, Lady Desikachari Road,
Mylapore, Chennai-600004
Tel: 91- 44 - 39109100 Fax: 91- 44 - 39109111
SECUNDERABAD OFFICE:
206, 3rd Floor, above CMR Exclusive, Bhuvana Towers, S.D.Road,
Secunderabad - 500003
Tel: 91-40-30780298/99, 39109536
DUBAI OFFICE:
312, Belshalat Building, Al Karama, Dubai, P.O. Box 117210, U.A.E.
Tel: 97143963120, Mobile : 971502612483
Fax : 9714 3963122
Email ID : [email protected]
Printed and Published on behalf of
Mr. Saurabh Jain @ Publication Address
11/6B, Shanti Chamber, Pusa Road, New Delhi-110005
Website: www.smcindiaonline.com
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Printed at: S&S MARKETING
102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)
Ph.: +91-11- 43035012, 43035014, Email: [email protected]
lobal markets ended in the red in the week gone by, amid reports of US
government shut down for the first time since 1995-96. Moreover, the US Gdollar fell to an eight-month low as worries grew that the budget standoff in
Washington would merge with a threatening more complex fight over the U.S.
borrowing limit scheduled on 17th October. On the contrary, with the positive
developments in Italian politics and a patient European Central Bank helped to lift the
euro. As expected, the European Central Bank (ECB) left its benchmark interest rate
unchanged at a record low. On the inflation front, annual inflation in the euro zone fell
to 1.1 percent in September, its lowest level in 3 ½ years and well below the ECB's
target of about 2 percent. On the Chinese front, China's official non-manufacturing
Purchasing Managers' Index rose to a six-month high of 55.4 in September from 53.9 in
August.
Despite volatility in the domestic markets, markets managed to close in green on the
back of institutional buying interest in banking, technology, auto, metals and capital
goods sectors and the rupee appreciation. Recently the rupee has breached 62 per
dollar mark as the greenback weakened against other global currencies. On the flip
side, Indian service companies suffer worst slump in over four years in the month of
September as new orders fell for the third-straight month, enhancing worries in an
economy struggling to emerge from a prolonged slowdown. At present the markets
across the world are eyeing the global developments such as the US government
shutdown and its impact on the US Federal Reserve's taper of the $85-billion-a-month
bond buying programme. The domestic triggers are the movement of rupee,
international crude oil prices, trend in FII activities, data on industrial production for
August and quarterly company results. Also RBI is scheduled to announce its second
quarter policy review on October 29.
On commodities front, if the US shutdown continues for some more days, it may result
in further selling pressure, especially in energy and base metals counter. Moreover, as
the public servants responsible for producing statistics on which traders and investors
rely are sent home, it will be difficult for the commodities traders to guess the market
direction. Big movements in forex market may also keep participants on their toes.
Appreciation in local currency may lock the movements in the domestic market.
Return of Chinese traders after a weeklong National Day holidays may give some relief
and much needed clarity to the market. New Yuan Loans of China , Fed Releases
Minutes from Sept 17-18; FOMC Meeting, Employment Change of Australia, Rate
Decision by Bank of England , Consumer Price Index of Germany, Unemployment Rate
of Canada, Advance Retail Sales of US, U. of Michigan Confidence are few data and
events which can give some clue to investors while trading in commodities.
From The Desk Of Editor
4
NOTES:
1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name of "Morning Mantra ".
2) S1 & S2 indicate first support & second support respectively & R1 & R2 indicate first resistance and second resistance respectively.
3) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the stock. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.
TREND SHEET
Stocks Closing Trend Date Rate S1 R1 S2 R2 Cl.
Price Trend Trend S/l
Changed Changed
SENSEX 19902 UP 12.09.13 19317 19700 19400 19000
S&P NIFTY 5910 UP 12.09.13 5728 5800 5700 5620
CNX IT 8361 UP 18.07.13 7306 8000 7800 7600
CNX BANK 10223 UP 19.09.13 11149 10400 10000 9800
ACC 1140 UP 19.09.13 1098 1080 1060 1030
BHARTIAIRTEL 324 UP 12.09.13 329 330 320 315
BHEL 144 UP 05.09.13 138 135 130 125
CIPLA 436 UP 18.07.13 413 420 410 400
DLF 139 DOWN 26.09.13 136 150 160 165
HINDALCO 116 UP 29.08.13 107 105 100 98
ICICI BANK 938 UP 12.09.13 951 960 920 900
INFOSYS 3037 UP 18.07.13 2800 2900 2850 2800
ITC 339 UP 19.09.13 355 340 330 320
L&T 829 UP 19.09.13 888 830 810 780
MARUTI 1412 UP 19.09.13 1480 1440 1410 1380
NTPC 144 UP 26.09.13 150 145 140 135
ONGC 267 DOWN 03.10.13 267 278 285 290
RELIANCE 847 UP 12.09.13 875 850 840 830
TATASTEEL 286 UP 22.08.13 274 280 270 265
NEWS
EX DATE SYMBOL PURPOSE
7-OCT-13 BAYERCROP BUY BACK-TENDER OFFER
14-OCT-13 SUPPETRO AGM / DIVIDEND - RS 2.50/- PER SHARE
17-OCT-13 INFY INTERIM DIVIDEND
17-OCT-13 SHREECEM AGM / FINAL DIVIDEND - RS.12/- PER SHARE
17-OCT-13 FEDERALBNK FACE VALUE SPLIT FROM RS.10/- TO RS.2/-
MEETING DATE SYMBOL PURPOSE
9-OCT-13 GOACARBON RESULTS/OTHERS
9-OCT-13 PFS RESULTS
11-OCT-13 INFY RESULTS/DIVIDEND
14-OCT-13 INDUSINDBK RESULTS/OTHERS
15-OCT-13 HDFCBANK RESULTS
15-OCT-13 BAJFINANCE RESULTS
15-OCT-13 BAJAJFINSV RESULTS
16-OCT-13 BAJAJ-AUTO RESULTS
16-OCT-13 BAJAJHLDNG RESULTS
17-OCT-13 AXISBANK RESULTS
21-OCT-13 ASIANPAINT RESULTS/DIVIDEND
21-OCT-13 M&MFIN RESULTS
21-OCT-13 KTKBANK RESULTS
21-OCT-13 HDFC RESULTS
22-OCT-13 INGVYSYABK RESULTS
25-OCT-13 COLPAL RESULTS/DIVIDEND
25-OCT-13 SHREECEM RESULTS
28-OCT-13 DABUR RESULTS
FORTHCOMING EVENTS
DOMESTIC NEWSMetal• JSW Steel will set up a 3.60 lakh tonnes per annum (LTPA) capacity steel
processing centre in Pune, with its joint venture partner Marubeni Itochu Steel Inc of Japan.
Automobiles• Ashok Leyland has sold its testing and engineering services arm, Defiance
Testing & Engineering Services (DTE) to US-based Exova for an undisclosed sum.
Paint• Asian Paints said its Mauritius-based wholly owned subsidiary Asian Paints
International Ltd (APIL) has increased holding in Berger International Ltd, Singapore (BIL) to 90.44% through its ongoing open offer.
Power• NHPC plans to join hands with private sector players for developing hydel
power projects. In this regard, NHPC has held preliminary discussions with various independent power producers.
• Tata Power has commenced construction work for the first phase of its joint venture 400 MW hydro power project in Georgia.
Tyre• Cooper Tire and Rubber Co shareholders have approved the US Company's
$2.5 billion sale to Apollo Tyres, clearing a major step for the creation of the world's seventh biggest tyre maker.
Finance• SKS Microfinance Limited has concluded securitisation transaction for
`321 crore with a major public sector bank.Pharmaceuticals• Lupin has launched the generic version of Allergan Inc's Zymaxid
Ophthalmic Solution in the US market with 180 days of marketing exclusivity.• Sun Pharmaceutical Industries Ltd and US-based Intrexon Corporation,
company operating in the area of synthetic biology, has formed a joint venture to develop controllable gene-based therapies for the treatment of ocular diseases that cause partial or total blindness in people.
• Glenmark Pharmaceuticals has received approval from the US health regulator for its generic Hydrocortisone Butyrate Cream used for treating variety of skin infections.
• Glenmark Pharmaceuticals has received a small research fee payment from Forest Laboratories Inc. on collaboration subject to its development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions supporting the next phase of work.
Chemical• Omkar Speciality Chemicals has acquired the rights of the plot no. W-
93(A), admeasuring about 720 sq. m. situated at MIDC, Badlapur (East), Thane 421503, which earlier belonged to Desh Chemicals for its operational benefits.
Capital Goods• Siemens has won an order worth ̀ 271 crores from Rashtriya Ispat Nigam to
modernize its blast furnace plant No 2 in Visakhapatnam.• Alstom India has bagged a 100 million euro contract to supply equipment
for GVK Power & Infrastructure's 850 MW Ratle hydropower plant in Jammu & Kashmir.
Information Technology• Infosys has signed a four-year contract with Toyota Motor Europe to
provide managed services application management. Under the contract, Infosys will provide support for over 150 applications for Toyota Motors across Europe.
INTERNATIONAL NEWS• US purchasing managers index edged up to 56.2 in September from 55.7 in
August, with a reading above 50 indicating growth in the manufacturing sector. Economists had been expecting the index to dip to 55.0.
• US pending home sales index dropped by 1.6 percent to 107.7 in August after falling by 1.4 percent to a downwardly revised 109.4 in July. Economists had been expecting the index to decrease by about 1.0 percent.
• US non-manufacturing index dropped to 54.4 in September from 58.6 in August. While a reading above 50 indicates continued growth in the service sector, economists had expected the index to show a much more modest decrease to a reading of 57.0.
• US initial jobless claims inched up to 308,000, an increase of 1,000 from the previous week's revised figure of 307,000. Economists had been expecting initial jobless claims to climb to 315,000 from the 305,000 originally reported for the previous week.
• Eurozone's retail sales increased 0.7 percent month-on-month in August compared with forecast for a 0.2 percent growth. Moreover, the rate exceeded July's 0.5 percent rise.
*Stock price has been adjusted according to the Bonus ratio 1:2
®
5
BSE SENSEX GAINERS & LOSERS TOP (% Change) NSE NIFTY GAINERS TOP & LOSERS (% Change)
SECTORAL INDICES (% Change)
SMC Trend
SMC Trend
FMCGHealthcare
FTSE 100CAC 40
Auto BankRealty
Cap GoodsCons Durable
Oil & GasPower
NasdaqDow jonesS&P 500
NikkeiStrait times
Hang SengShanghai
INSTITUTIONAL ACTIVITY (Equity) (` Crore)
ITMetal
Down SidewaysUp
SMC Trend
Nifty BSE Midcap Nifty JuniorSensex BSE Smallcap S&P CNX 500
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
®
1.31
0.89
1.67
0.76
1.151.27
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
Nifty Sensex BSE Midcap BSE Smallcap
Nifty Junior S&P CNX 500
-2.09
-0.61
1.77
3.16
1.341.09 1.15
2.54
1.10
0.04
2.54
-3.00
-2.00
-1.00
0.00
1.00
2.00
3.00
4.00
Auto Index Bankex Cap Goods Index
Cons Durable Index
FMCG Index Healthcare Index
IT Index Metal Index Oil & Gas Index
Power Index Realty Index
-0.19
-1.72
-0.77
-4.08
-2.04
0.03
0.68
-0.98
-1.40
-5.00
-4.00
-3.00
-2.00
-1.00
0.00
1.00
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.
FTSE 100 CAC 40
97.40
2.60
-170.60
-524.50
-86.30
-407.20
-600.00
-500.00
-400.00
-300.00
-200.00
-100.00
0.00
100.00
200.00
Friday Monday Tuesday Wednesday Thursday
FII Activity MF Activity
6.40
4.333.94
3.242.84
-3.00 -2.91-2.60
-1.86-1.47
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
Bajaj Auto HDFC Bank TCS Maruti Suzuki
Sesa Sterlite ITC O N G C NTPC Hind. Unilever
Coal India
8.34
7.16
6.36 6.33 6.24
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
Ranbaxy Labs.
Axis Bank I D F C Bajaj Auto IndusInd Bank
-2.88 -2.74 -2.63-2.05 -1.83
O N G C NTPC ITC NMDC Hind. Unilever
Beat the street - Fundamental Analysis
6
® Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline
Face Value (`) 5.00
52 Week High/Low 1096.15 / 727.50
M.Cap (` Cr.) 12644.62
EPS (`) 20.63
P/E Ratio (times) 44.07
P/B Ratio (times) 4.60
Stock Exchange BSE
` in cr
Particular Mar 2013 Mar 2014 Mar 2015
Revenue 3,768.71 4,546.20 5,490.50
EBITDA 608.20 729.92 892.46
EBIT 465.86 577.39 711.67
Pre-Tax Profit 392.78 471.97 580.20
Net Profit 304.35 352.55 432.73
EPS 2.19 2.58 3.17
BVPS 197.43 214.61 238.06
ROE 11.41 12.40 13.88
(E) (E)
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale services for patients.
•In a bid to pare debt and build new hospitals, Apollo •Apollo Hospitals is the leading private sector Hospitals is reportedly planning to mop-up $400 healthcare provider in Asia and owns and million through sale of around 51% to 75% stake in manages a network of speciality hospitals and a business trust to overseas investors through clinics, a chain of Pharmacy retail outlets across listing on the Singapore Stock Exchange.the country, and provides Consultancy Services
for commissioning and managing the Speciality •Apollo Health and Lifestyle, subsidiary of Apollo Hospitals. Hospitals Enterprise is planning to spend around
•It has 51 hospitals with total bed capacity of 8420 `400 crore over the next five years to set up 36 beds as on June 30, 2013, which includes 38 premium birthing centres across the country.owned hospitals including JVs/ Subsidiaries and Valuationassociates with 6382 beds and 13 Managed Over the past few years, the company has delivered hospitals with 2038 beds. Of the 6382 owned beds, steady growth both in terms of revenue and profit. 5648 beds were operational and had occupancy of Strong brand recognition and robust expansion plans 70%. would help the company to maintain the growth
•It has received its board's approval to invest Rs momentum going forward. On the estimated FY14E 2,250 crore over the next three years, as the EPS of ̀ 25.78 and three year average P/Ex of 42.75x, country's leading hospital chain has shifted its we expect the stock to see a price target of `1102 in focus to tier II and III cities and has got three-
one year time frame. pronged expansion plan. The investment will be funded through existing funds, incremental debt and internal accruals. The company is planning to increase the number of total beds by 1,000 across seven locations.
•During the quarter ended June 2013, Apollo Pharmacies added 49 stores and closed 26 stores, with the net addition of 23 stores, the total store network stands at 1526 operational stores as on June 30, 2013.
•Apollo Hospitals, in a joint venture with health science firm Saarum Innovations, has set up India's first commercial bio-bank, which will provide cell-related research assistance to pharma companies and personalised medicine
P/E Chart
APOLLO HOSPITALS ENTERPRISE LTD CMP: 908.90 Upside: 21%Target Price: 1102
VA TECH WABAG LIMITED CMP: 458.10 Upside: 21%Target Price: 555
Face Value (`) 2.00
52 Week High/Low 589.00/380.65
M.Cap (` Cr.) 1216.26
EPS (`) 34.25
P/E Ratio (times) 13.38
P/B Ratio (times) 1.70
Dividend Yield (%) 1.53
Stock Exchange BSE
VALUE PARAMETERS
% OF SHARE HOLDING
Investment Rationale poised to get one more. The Turkey MDU has won more than 3 contracts in Q1FY14 and it is poised to •VA TECH WABAG Limited is engaged in design, get some more large contracts. Both Philippines & supply, installation, and operational management Turkey MDUs are expected to turn profitable by this of drinking water and waste water treatment plants. fiscal itself. The company maintains its FY14 revenue
•Its consolidated sales grew 26.9% to Rs 285.58 guidance of `1850-1950 crore (or a revenue crore, the operating profit margin stood at 4.42% as growth of 15-20%) and order inflow guidance of against 4.62%, which saw operating profit (OP) `2600-2700 crore. rising 21% to `12.61 crore in the quarter ended •Notwithstanding the challenging time, the June 2013 over a year ago. After accounting for the company has built a robust order pipeline across share of profit from associate companies and geographies. It has bagged orders worth `1025 minority interest, net profit spurted 26.10% to ̀ 2.83 crore in Q1FY14. Consolidated order backlog of crore.the company as end of June 2013 was ̀ 5023 crore
Valuationand the frame work contracts stood at ̀ 1098 crore as end of June 2013. The company has a healthy order in pipeline and well
geared to complete execution of current order book. •Barring Libya and Ulhasnagar projects, all orders in We expect the stock to see a price target of ̀ 555 in one the book are active and moving. On a healthy order year time frame, based on estimated FY14E EPS of book and a strong balance sheet, the company 38.65 on the one year average P/Ex of 14.37.stands committed towards the execution of the
order book and future growth of the business.
•Developing and increasing its presence in future markets of Latin America, China, Turnkey and Saudi Arabia, is likely to power the growth of the company going forward. The Multi Domestic Units (MDUs) in Philippines and turkey are adding manpower. So, the international numbers will go up from about 600. However, the high cost manpower in Austria, Switzerland is not increasing much.
•Two of the company's MDUs at Philippines and Turkey have been very successful in bagging orders. Philippines MDU has bagged 2 orders of 100 crore plus in size in the last 2 months and
` in cr
Particular Mar 2013 2014(E) 2015
Revenue 1,602.16 1,859.42 2,168.19
EBITDA 154.86 177.38 208.50
EBIT 143.95 165.84 196.81
Pre-Tax Profit 135.19 151.09 178.65
Net Profit 90.34 101.63 120.21
EPS 33.76 38.65 45.07
BVPS 269.49 302.40 340.23
ROE 13.31 13.50 14.13
Mar Mar (E)
P/BV Chart
34.63
20.6
5.02
30.91
8.84
Foreign
Institutions
Non Promoter Corporate Holding
Promoters
Public & Others
56.25
2.650.231.03
34.35
5.51
Foreign
Institutions
Govt Holding
Non Promoter Corporate Holding
Promoters
Public & Others
Charts by Spider Software India Ltd
7
The stock closed at 174.30 on 03rd October 2013. It made a 52-week low at
`126.50 on 28th August 2013 and a 52-week high at `393 on 18th January 2013.
The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart
is currently at ̀ 310.03.
It has formed Inverted head and shoulder formation on the daily charts and in
the last week, it closed with upward momentum indicating reversal in the near
term. One can Buy 170-172 levels with closing below stop loss of 165 levels for
the target of 182-185 levels.
`
EQUITY
Above calls are recommended with a time horizon of 1-2 months
The stock closed at 91.25 on 03rd October 2013. It made a 52-week low at
`71.65 on 25th June 2013 and a 52-week high at ̀ 143.60 on 18th October 2012.
The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart
is currently at ̀ 142.30.
After making lows of around 70 levels, it slightly bounced back while trading in a
narrow range. Looking at the momentum of this particular scrip, it is assumed
that it may further shoot up in coming weeks. One can Buy in the range of 88-89
levels with closing below stop loss of 84 levels for the target of 98-99 levels.
`
The stock closed at 148.05 on 03rd October 2013. It made a 52-week low at
`101.55 on 08th November 2012 and a 52-week high of `167.50 on 05th June
2013. The 200 days Exponential Moving Average (EMA) of the stock on the weekly
chart is currently at ̀ 138.69.
It has formed inverted head and shoulder formation, which is bullish in nature. It
is advisable to buy this particular scrip after a slight retracement for further
upside in near term. One can Buy in the range of 153-155 levels with closing
below stop loss of 148 levels for the target of 165-167 levels.
`
BANK OF INDIA
UNIPHOS
CROMPTON GREAVES
®
DERIVATIVES
BASIS GAP IN NIFTY
Markets remained choppy and volatile, producing intraday swings throughout the week. Hereafter, the range of 5700-6100 will remain crucial in the near term,
and the move is expected to remain sideways. If the Nifty slips below the 5700 mark, it could slide to 5500 levels due to increased selling pressure. On the
contrary, the index may face stiff resistance at 6050-6100 levels. The put-call ratio of open interest continued to increase last week and closed higher at 1.32
levels. The options open interest concentration continued to be at the 6100-strike call with the highest open interest of above 45 lakh shares. Among the put
options, the 5700-strike is taking the total open interest to 45 lakh shares, with the highest open interest among put options. The Implied Volatility (IV) of call
options closed at 23.19% on Friday, while the average IV of put options inched higher to close at 24.15%. The Nifty is expected to remain in a broad range of 5700-
6100 levels, with an intermediary support at around 5840 levels. The move may remain mixed with resistance near 5990 levels.
WEEKLY VIEW OF THE MARKET
NIFTY TOTAL OPEN INTEREST (in share)
FIIs ACTIVITY IN INDEX FUTURE (F&O) IN LAST WEEK
(Derivative segment)
®
FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS
(Derivative segment) `(Cr)
BUY COLPAL (OCT FUTURE)
Buy: Around `1278
Target: `1316
Stop loss: `1256
LUPINBuy OCT. 900. CALL 27.00Sell OCT. 920. CALL 20.00
Lot size: 500BEP: 907.00Max. Profit: 6500.00 (13.00*500)Max. Loss: 3500.00 ( 7.00*500)
OPTIONSTRATEGY
FUTURESTRATEGY
DLFBuy OCT. 150. CALL 6.40Sell OCT. 160. CALL 3.80
Lot size: 1000BEP: 152.60Max. Profit: 7400.00 (7.40*1000)Max. Loss: 2600.00 ( 2.60*1000)
SELL NTPC (OCT FUTURE)
Sell: `142
Target: `137
Stop loss: `145
Below
HDFCBuy OCT. 820. CALL 25.50Sell OCT. 840. CALL 17.50
Lot size: 250BEP: 828.00Max. Profit: 3000.00 (12.00*250)Max. Loss: 2000.00 ( 8.00*250)
BULLISH STRATEGY
DERIVATIVE STRATEGIES
BUY EXIDE (OCT FUTURE)
Buy: Above `136
Target: `142
Stop loss: `132
742450 793500
1216000
879800
1281750
20660502505250
3559500
3871100
2293600
2646400
2062800
4060050
37529003557950
4639300
4011750
2592500
1964450
1192000
575750321400
0
500000
1000000
1500000
2000000
2500000
3000000
3500000
4000000
4500000
5000000
5300 5400 5500 5600 5700 5800 5900 6000 6100 6200 6300
Call Put
0
10
20
30
40
50
60
70
18-Sep 19-Sep 20-Sep 23-Sep 24-Sep 25-Sep 26-Sep 27-Sep 30-Sep 01-Oct 03-Oct
BUY13.8%
SELL86.2%
-748.57-583.74
-250.46-523.58
3117.79
1655.27
838.66
226.74 155.96
569.64
-1000.00
-500.00
0.00
500.00
1000.00
1500.00
2000.00
2500.00
3000.00
3500.00
19-Sep 20-Sep 23-Sep 24-Sep 25-Sep 26-Sep 27-Sep 30-Sep 01-Oct 03-Oct
8
9
BHARTIARTL 9501000 10074000 6.03 0.78 0.70 -0.08 40.02 41.61 1.59
DLF 22964000 22203000 -3.31 0.46 0.52 0.06 69.05 69.10 0.05
HINDALCO 18916000 20388000 7.78 0.82 1.02 0.20 42.89 43.75 0.86
HINDUNILVR 6045000 6272500 3.76 0.58 0.59 0.01 33.49 34.93 1.44
ICICIBANK 6912000 7389250 6.90 0.65 0.67 0.02 45.08 43.57 -1.51
IDEA 7888000 8560000 8.52 0.74 0.69 -0.05 42.83 47.07 4.24
INFY 2105500 2647500 25.74 1.00 1.05 0.05 55.76 55.95 0.19
ITC 19225000 19901000 3.52 0.72 0.62 -0.10 33.71 34.77 1.06
JPASSOCIAT 53576000 53300000 -0.52 0.82 0.68 -0.14 70.96 69.25 -1.71
NTPC 8260000 9834000 19.06 0.41 0.44 0.03 32.23 32.23 0.00
ONGC 9337000 10385000 11.22 0.41 0.36 -0.05 39.65 40.75 1.10
RANBAXY 8327000 8574000 2.97 0.52 0.43 -0.09 64.66 64.39 -0.27
RCOM 26832000 28972000 7.98 0.47 0.57 0.10 57.19 57.82 0.63
RELIANCE 7315750 7536250 3.01 0.52 0.66 0.14 30.62 29.76 -0.86
NIFTY 17936650 17343050 -3.31 1.18 1.32 0.14 23.67 24.15 0.48
SAIL 11400000 14356000 25.93 0.32 0.53 0.21 40.21 47.66 7.45
SBIN 5165250 5407000 4.68 0.85 0.74 -0.11 44.93 44.13 -0.80
TATASTEEL 14001000 16209000 15.77 0.52 0.67 0.15 43.67 45.35 1.68
UNITECH 84256000 87928000 4.36 0.40 0.37 -0.03 76.50 73.65 -2.85
IMPORTANT INDICATORS OF NIFTY AND OTHER ACTIVE FUTURE CONTRACTS
OPEN INTEREST PCR RATIO IMPLIED VOLATILITY
SCRIPTS PREV. CURRENT % PREV. CURRENT PREV. CURRENT WEEK WEEK CHANGE WEEK WEEK CHANGE WEEK WEEK CHANGE
DERIVATIVES
Put Call Ratio Analysis : The Put-Call open interest ratio of Nifty has increased to
1.32 from 1.18. At the end of the week, the maximum stocks had a negative of
change in put call open interest ratio.
Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week
has increased to 24.15% from 23.67%. The IV of the stock futures has changed this
week ranging from -2.85% to 7.45%.
Open Interest Analysis : The open interest for the index at the end of this week
has decreased by 3.31% as compared to the previous week. All future stocks saw
changes in their open interest ranging from -3.31% to 25.93%. SAIL has the
maximum decrease in open interest as compared to other stocks.
Statistical Analysis·
Open 5951.25 High 5996.00
Low 5754.05 Close 5966.80
NIFTY & IV CHART NIFTY ANALYSIS
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22
23
24
25
26
27
28
5700
5800
5900
6000
6100
6200
27-Sep 30-Sep 01-Oct 03-Oct
Nifty Close IV
10
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Bullion counter is expected to trade on sideways path as concerns of US shut down and Fed tapering coupled with movement of greenback will give further direction. The US government shutdown prompted growing concern of wider economic consequences and President Barack Obama challenged Republicans to "stop this farce" by allowing a straight vote on a spending bill. Both sides in the standoff, which was triggered by Republican efforts to halt Obama's healthcare reforms, appeared entrenched. Republicans in the House of Representatives are planning at least 10 more small bills to reopen specific federal programs, according to a senior Republican aide. Democrats reject that piecemeal approach. Fears grew that the crisis would merge with a more complex fight looming later this month over raising the federal debt limit and that this could stymie any attempts to end the shutdown before the middle of October. On domestic bourses movement in local currency rupee will guide its direction further. Indian rupee can move in the range of 60-63.Recently steep strength in local currency has capped the upside. Gold may trade in the range of $1260-1360 in COMEX and 28000-30800 in MCX. White metal silver can also trade in the range of 46000-51000 in near term. China's central bank is planning to increase the number of firms allowed to import and export gold and will also ease restrictions on individual buyers of the precious metal. Physical gold deliveries through China's Shanghai Gold Exchange already total more than 1,100 tonnes this year, overtaking full-year 2012.
BULLIONS
Crude oil prices may remain on volatile path as investors will eye the resolution to the US Budget stalemate. Congress must increase the country's borrowing limit on Oct. 17 or risk default, a situation many fear would be far worse than the shutdown arising from a budget standoff. As the budget stalemate in Washington starts to hurt financial markets, the United States Department of the Treasury is warning further congressional deadlock on the country's $US17 trillion debt ceiling would have "catastrophic consequences". Treasury says a failure to raise the debt ceiling in the next fortnight could see the United States default on its debts for the first time. Last week US labour department did not release the Friday employment report due to shutdown. Meanwhile stability in Middle East tensions has kept the prices on backfoot. Overall it can move in the range of 6100-6550 in MCX and $98-106 in NYMEX. But a further easing of tensions between Iran and the West over the Middle East country's nuclear programme dragged on prices. The United States on Thursday held out the possibility of giving Iran some short-term sanctions relief in return for concrete steps to slow uranium enrichment and shed light on its nuclear programme. Bears may continue to have upper hand in the Natural gas futures which can tumble lower towards 205 in MCX. U.S. stockpiles totaled 3.386 trillion cubic feet in the week ended Sept. 20, 0.9 percent above the five-year average for the period
ENERGY COMPLEX
Concerns about US debt ceiling and shutdown coupled with movement of local currency rupee will guide the movement of base metals complex in MCX. There will be some renewed demand from China as it reopens this week after national day holidays. China's manufacturing growth edged up only slightly in September, official data showed last week, adding to concerns about the pace of recovery. The official Purchasing Managers' Index (PMI) for the non manufacturing sector rose to 55.4 in September the highest reading since March from 53.9 in August. The number of Americans filing new claims for jobless benefits remained at pre-recession levels last week but growth in the massive U.S. service sector cooled in September as firms took on fewer new workers. Recently worries about U.S. fiscal stability tarnished the outlook for demand. Red metal copper can trade in the range of 440-465. Duty-paid copper stocks registered with the Shanghai Futures Exchange (SHFE) have fallen to 18-month lows. Those in the COMEX warehouse system in the United States are at levels last seen almost five years ago. Zinc prices can hover in the range of 112-118 in MCX. Nickel prices can trade in the range of 810-865 in MCX. The global mining and commodities trading giant Glencore Xstrata is suspending operations at its Falcondo nickel mine in the Dominican Republic due to falling nickel prices. Battery metal lead can move in the range of 123-130 while Aluminum prices may move in the range of 108-115 levels.
BASE METALS
Jeera futures (Oct) is likely to witness a fall towards 12300 levels. The rains
in Gujarat and Rajasthan may continue to keep pressure over the counter
as the sowing season begins. A stronger rupee is also hurting the exporter's
margin and creating a concern about export demand. The rupee gained 5
percent last month, snapping a four-month losing streak and showing its
biggest monthly gain since September 2012. Turmeric futures (Oct) will
possibly maintain a consolidation in the range of 4500-5200 levels. At the
spot market, inferior turmeric is arriving and hence the demand is on the
lower side. The stockists are buying meager quantity of the yellow spice,
just to fulfill the local orders and also for upcountry orders; but they are
quoting at lower price. The downtrend in cardamom futures may remain
intact as the supplies are taking a toll over the demand. Harvesting has
reached its peak during the week coupled with, comparatively good crop
this season, resulted in the arrivals soaring. Chilli futures (Oct) might show
some extended profit booking from higher levels. The fundamental factors
depict that the yield in Madhya Pradesh and it is is expected to rise this year
& the latest reports from Andhra Pradesh suggest that favorable rainfall in
major chilli growing areas such as Guntur and Warangal will boost the
strong chilli sowing in the current year.
SPICES
OTHER COMMODITIES
The short covering in chana futures (Oct) might get capped near 3050 levels. The adequate domestic stock levels and expected arrival of imported chana during October-November, may add to the bearish sentiments. The estimated production of Kharif pulses as cited in the first advance estimates of crop production is also projected to be higher than the average production by 0.42 million tonnes mainly due to higher than average production of tur and urad. Sugar futures may fall further as supply is outstripping demand. With the new crushing season round the corner, millers are keen on selling old stocks in the local market in the absence of buying by neighbouring states. Kapas futures (Apr) will perhaps remain above its support at 980 levels. In the current scenario, the mills currently have low stocks and are buying for their immediate needs. While on the supply side, the rains are pushing back the first picking from the new crop, while there could be damage to the quality in some pockets. There are reports that thundershowers with heavy winds had damaged flowering in cotton in Gujarat. Wheat futures may fall further as the spot markets has been trading weak as increased supply from government stock and slack buying from millers has pressurized the market. Moreover, there are reports that the government has allowed Food Corporation of India (FCI) to sell around 1 million tonnes of wheat from its warehouses directly to small flour mill owners located in all parts of the country.
CPO futures (Nov) will possibly fall further breaching 495 levels tracking bearish cues from the Malaysian markets. Weaker crude oil prices could shift some demand away from palm oil, which is used as a green alternative to produce bio-fuels. Investors would keep an eye on the stocks and output volume in the world's second-largest producer. Industry regulator the Malaysian Palm Oil Board (MPOB) will release data on Malaysia's end-September stocks, exports and production on Oct. 10, 2013. Market participants are apprehending that Malaysia's palm production to rise sharply in September and October, as tropical oil palm trees enter a seasonal cycle that encourages growth of fresh fruit. Soybean futures (Oct) will possibly maintain a consolidation in the range of 3440-3660 levels. Lack of fresh cues from the U.S markets due to shut down may keep the counter in a sideways zone. The fundamentals of the domestic market depict that according to the survey conducted by SOPA, all India estimated yield for kharif 2013 is estimated at 1,079 kg per ha as compared to 1,185 kg per ha in the previous season, a decline by 8.94%. Mustard futures (Oct) might witness a range bound price movement facing resistance near 3600 levels. At the spot market, mustard seeds ruled firm at `4,100-4,200 a quintal (down `50 from last week), while raida ruled at `3,000. Slack demand in mustard oil also dragged plant deliveries in mustard seeds for Jaipur line to `3,620-30 (down Rs 45 from last week).
OIL AND OILSEEDS
Closing as on 03.10.2013
11
NOTES : 1) Buy / Sell 25% of Commodity at S1/R1 respectively & rest 75% at S2/R2 respectively.2) S1 & S2 indicate first support & second support & R1 & R 2 indicate first resistance & second resistance. 3) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the commodity. At the moment, the stop loss will be far as we are seeing the graphs on weekly
basis and taking a long-term view and not a short-term view.4) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name of Daily report- commodities.
TECHNICAL RECOMMENDATIONS
EXCHANGE CONTRACT CLOSING DATE TREND
PRICE CHANGED CHANGED STOP/LOSS
NCDEX SOYABEAN (OCT) 3536.00 29.08.13 SIDEWAYS
NCDEX JEERA (OCT) 12607.00 03.10.13 DOWN 12607.00 - 14100.00 15000.00 15800.00
NCDEX RED CHILLI (OCT) 5848.00 03.10.13 SIDEWAYS
NCDEX RM SEEDS (OCT) 3501.00 25.07.13 DOWN 3099.00 - 3600.00 3700.00 3800.00
MCX MENTHA OIL (OCT) 869.20 13.06.13 SIDEWAYS
MCX CARDAMOM (OCT) 705.90 28.02.13 DOWN 965.00 - 800.00 830.00 860.00
MCX SILVER (DEC) 48653.00 26.09.13 DOWN 48639.00 - 53000.00 56000.00 58000.00
MCX GOLD (DEC ) 29472.00 26.09.13 DOWN 29865.00 - 31000.00 31500.00 32000.00
MCX COPPER (NOV) 454.40 12.09.13 DOWN 459.25 - 472.00 - 485.00 495.00
MCX LEAD (OCT ) 127.45 12.09.13 DOWN 134.65 - 137.00 - 145.00 149.00
MCX ZINC (OCT ) 115.30 12.09.13 DOWN 118.20 - 122.00 - 128.00 132.00
MCX NICKEL (OCT ) 844.10 12.09.13 DOWN 879.20 - 900.00 - 930.00 960.00
MCX ALUMINUM (OCT ) 111.95 26.09.13 DOWN 111.65 - 117.00 - 121.00 126.00
MCX CRUDE OIL (OCT) 6453.00 26.09.13 DOWN 6415.00 - 6700.00 - 6900.00 7000.00
MCX NATURAL GAS (OCT ) 219.80 26.09.13 DOWN 221.10 - 225.00 - 240.00 250.00
TREND RATE TREND S1 R1 S2 R2 CLOSING
*
TREND SHEET
COMMODITY
GOLD MCX (DECEMBER) contract closed at 29472.00 on 3rd October '13. The contract made its high of
`34950.00 on 28th August '13 and a low of `26510.00 on 17th July '13. The 18-day Exponential Moving
Average of the commodity is currently at ̀ 29950. On the daily chart, the commodity has Relative Strength Index (14-day) value of 39. One can buy in the
range 29000-28800 with the stop loss of ̀ 28400 for a target of ̀ 31000.
`
SILVER MCX (DECEMBER) contract closed at 48653.00 on 3rd October '13. The contract made its high
of ̀ 61126.00 on 28th August '13 and a low of ̀ 40701.00 on 17th July '13.The 18-day Exponential Moving
Average of the Commodity is currently at ̀ 49800.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 38.One can buy in the
range 47800-47500 with the stop loss of ̀ 47100 for target of ̀ 49500.
`
TURMERIC NCDEX (NOVEMBER) contract closed at 4834.00 on 3rd October '13. The contract made its
high of `5590.00on 2nd September '13 and a low of `4684.00on 27th September '13.The 18-day
Exponential Moving Average of the Commodity is currently at ̀ 4909.
On the daily chart, the commodity has Relative Strength Index (14-day) value of 45. One can buy in the
range 4850-4750 with the stop loss of ̀ 4670 for a target of ̀ 5100.
`
®
GOLD MCX (DECEMBER)
SILVER MCX (DECEMBER)
TURMERIC NCDEX (NOVEMBER)
COMMODITY
NEWS DIGEST
The first government shutdown in 17 years may cost U.S. at least $300 million a day in lost
economic output as per an estimate inject selling pressure everywhere and commodities are not
the exceptional. In the domestic market, commodities movements were locked on further
appreciation of rupee. In energy complex, both crude oil and natural gas prices cooled off. On
Wednesday, crude prices declined on rise in inventories, after jumping 2% on Tuesday to the
highest price since Sept. 20. U.S. gasoline inventories gained 3.5 million barrels last to last week,
said the EIA. Refinery operating rates slid 1.3 per cent to 89 per cent, the lowest since June,
according to the EIA data. If we talk about the spread between brent and sweet crude, spread
narrowed on speculation that the TransCanada link will help reduce crude stockpiles at Cushing,
Oklahoma, the delivery point for the New York-traded contract. Profit takers and rise in inventory
dragged natural gas prices last week. Additionally weather forecasting models predicted a
possible tropical storm forming in the Gulf of Mexico. Poor outcome of some economic release
amid the news of shutdown pressurized investors to pull out their money from industrial metals
counter, which is highly correlated to the economic performance. Bullion counter settled down as
investors preferred to book their profit. In India, taking cues from global price movements,
Government raised the import tariff value of gold to $436 per 10 grams, while reducing it on
imported silver to $702 per kg.
As regard agri commodities, most of them traded with weak sentiments. Sugar futures fell across
the board for the first time this week, with prospects for more supplies from Brazil and India.
India may export as much as 3 million metric tonnes of sugar beginning this month and Brazil is
entering into the final part of its crushing season. Mix performance kept investors fuzzy in oil
seeds and edible oil counter. CPO and mustard seed closed week in negative territory while
refined soya oil and soyabean closed up. Palm oil dropped on speculation that increasing output
from Malaysia, the world's second-largest producer, will add to stockpiles and as a decline in
crude oil prices cut its appeal as biofuel. Exporters are inactive in the domestic market and
stockists are expecting lower prices in coming days for higher buying add bearish sentiment in
jeera prices. Similarly, subdued demand in the spot market against adequate stocks position
mainly kept pressure on the cardamom prices.
WEEKLY COMMENTARY
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
COMMODITY UNIT 25.09.13 01.10.13 DIFFERENCEQTY.
BARLEY MT 21225 19665 -1560
CASTOR SEED MT 91199 90057 -1142
CHANA MT 105500 98120 -7380
CHILLI MT 2586 2472 -114
COTTONSEED OILCAKE MT 13444 13444 0
JEERA MT 3641 3464 -177
MAIZE MT 2720 2577 -143
RAPE MUSTARD SEED MT 39867 35461 -4406
SOYA BEAN SEEDS MT 0 0 0
SUGAR M MT 6496 4671 -1825
WHEAT MT 11908 10672 -1236
COMMODITY UNIT 26.09.13 03.10.13 DIFFERENCE
QTY. QTY.
CARDAMOM MT 71.10 61.30 -9.80
KAPASIA KHALLI BALES 148.90 148.91 0.01
GOLD KGS 476.00 753.00 277.00
GOLD MINI KGS 33.80 33.70 -0.10
GOLD GUINEA KGS 26.54 61.39 34.85
MENTHA OIL KGS 2641477.45 2629949.05 -11528.40
MILD STEEL MT 674.43 584.43 -90.00
SILVER (30 KG Bar) KGS 15645.94 22939.91 7293.97
•U.S. is overtaking Russia as the world's largest producer of oil and natural gas, a startling shift that is reshaping markets and eroding the clout of traditional energy-rich nations.
•Freeport-McMoRan Copper & Gold Inc reached a tentative agreement with Indonesian union workers over wages and pensions.
•Newmont Mining Corp, the biggest gold miner in the United States, has joined the race for Glencore Xstrata's LEN.L copper mining project in Peru.
•Chile, the world's No. 1 copper producer, produced 492,883 tonnes of the red metal in August, a 7.6% increase from a year earlier.
•Japan's crude steel output is expected to rise 8 percent in the October to December quarter from a year earlier.
•U.S. crude oil inventories at the key Cushing, Oklahoma, storage hub fell 16.9 million barrels over the last 13 weeks to their lowest level since February, 2012.
•OPEC expects demand for its crude to fall to 29.61 million barrels per day (bpd) in 2014, down 320,000 bpd from 2013.
•As cited by the Indian Meteorological Department (IMD), India received 6% higher rainfall than normal in the 2013 monsoon season ended on Sept. 30, 2013.
•As per Soybean Processors' Association (SOPA) estimates India's total soybean output this year at 12.98 million tonnes, as compared to 12.68 million tonnes in the previous season.
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
12
®
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
QTY.
8.62
5.17
3.06
2.181.95
-7.99 -7.92
-4.36
-3.42-2.93
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
RED CHILLI CORIANDER SOYABEAN TURMERIC SOYA OIL GUAR SEED GUAR GUM RUBBER NEW COPPER JEERA
5.37
2.48
0.950.60
0.32
-9.71
-5.59
-4.92
-4.12 -4.03
-12.00
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
KAPASKHALI SILVER1000 POTATO KAPAS COTTON GUARGUM GUARSEED NICKEL ZINC LEAD
Stock Holding Limits…….A Tool To Curb Prices
13
SPOT PRICES (% change)
COMMODITY
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
26.09.13 03.10.13
ALUMINIUM 5401000 5372375 -28625
COPPER 547550 531875 -15675
NICKEL 225426 227292 1866
LEAD 243500 238850 -4650
ZINC 975100 1019475 44375
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 27.09.13 03.10.13 CHANGE(%)
Soya CBOT NOV Cent per Bushel 1319.75 1288.25 -2.39
Maize CBOT DEC Cent per Bushel 454.00 439.25 -3.25
CPO BMD DEC MYR per MT 2310.00 2302.00 -0.35
Sugar LIFFE DEC 10 cents per MT 478.90 491.20 2.57
COMMODITY EXCHANGE CONTRACT 27.09.13 03.10.13 CHANGE%
ALUMINIUM LME 3 MONTHS 1840.00 1827.00 -0.71
COPPER LME 3 MONTHS 7300.00 7185.00 -1.58
LEAD LME 3 MONTHS 2100.00 2060.00 -1.90
NICKEL LME 3 MONTHS 13985.00 13525.00 -3.29
ZINC LME 3 MONTHS 1907.00 1868.00 -2.05
GOLD COMEX DEC 1339.20 1317.60 -1.61
SILVER COMEX DEC 21.83 21.79 -0.21
LIGHT CRUDE OIL NYMEX NOV 102.87 103.31 0.43
NATURAL GAS NYMEX NOV 3.59 3.50 -2.51
PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)
In order to ensure the smooth availability of essential commodities like pulses,
edible oils and oilseeds on affordable prices to general public especially the
vulnerable sections, the Union Cabinet has extended the stock holding limit on
pulses, edible oils and oilseeds for a further period of one year i.e. from 1st
October 2013 to 30th September 2014. The validity of the current stock holding
limits order of these items expired on September 30.
Why stock holding limits???
Activities like hoarding create artificial scarcities of essential commodities
resulting in skyrocketing of prices. Through stock holding limits, government
checks hoarding of food items by restricting traders to store excess stock than the
quantity allowed by it and ensure sufficient supply of commodities in market. By
stock holding limits the wholesalers and stockists have to keep only a fixed stock of
commodities and defiance of it would lead to punishment.
In August 2006, the Cabinet had approved the curbs on wheat and pulses, initially
for a period of six months. Since then, the validity of stock holding limits have been
extended from time to time, also incorporating some more essential commodities.
At present stock limits was permitted for pulses, edible oils and edible oilseeds for
a period upto 30.09.2013 and in respect of rice and paddy upto 30.11.2013. Wheat
and Sugar have been withdrawn from the ambit of these orders w.e.f. 01.04.2009
and 01.12.2011 respectively.
Impact of decision
• This decision would enable state governments to continue to take effective de-
hoarding operations under Essential Commodities Act, 1955 by fixing stock
limits and licensing requirements among others in respect of pulses, edible oils
and edible oilseeds.
• This will also help the efforts being taken by the Centre to tackle the problem
of rising prices and also improve the availability of these commodities to
general public especially the vulnerable sections.
• The stock holding limit has helped in controlling prices of pulses and edible oils
in various parts of the country as the country is dependent on import of pulses
and edibles oils to meet domestic shortages.
• Its edible oil imports jumped to a record $11.31 billion in 2012-13, while pulse
purchases from overseas, too, hit an all-time high of $2.34 billion. So hoarding
can significantly affect the prices of these items, especially when the rupee
has depreciated 15% since April, worsening risks of imported inflation. So
extending the stock-holding limit on these items is necessary, especially in
times of high inflation.
• Currently India imports more than half of its edible oil and one-fifth of its pulse
requirements a year. India had produced 18.45 million tonnes of pulses that is
less than the demand. So the country imported 4 million tonnes of pulses in
2012/13.
• India imports 53 per cent of its 16.5 million tonnes of annual edible oil demand,
while the remaining is met through domestic sources.
Conclusion
The stock-holding norms, coupled with comfortable supplies following adequate
imports have helped keep domestic pulse and edible oil prices subdued in recent
months. Inflation in pulses dropped 14.40% last month while that in edible oils and
oilseeds inched down by 3.86% and 7.22%, respectively while overall food inflation
hit 18.18% in August from 11.91% in July. Further extension of the stock holding
limit will ensure sufficient supply and may check the prices.
®
-5.10
-3.04
-3.02
-2.46
-1.83
-1.41
-1.33
-1.03
-0.92
-0.59
-0.27
-0.22
0.43
1.35
1.45
2.40
2.98
6.30
-6.00 -4.00 -2.00 0.00 2.00 4.00 6.00 8.00
RUBBER (KOCHI)
CHANA (DELHI )
CHILLI (GUNTUR)
CARDAMOM (VANDANMEDU)
GOLD KG (MUMBAI)
SILVER (DELHI)
CRUDE PALM OIL (KANDLA)
MASOOR (INDORE)
MUSTARD (JAIPUR)
JEERA (UNJHA)
GUR (MUZAFFARNGR.)
PEPPER MALABAR GAR (KOCHI)
BARLEY (JAIPUR)
SOYABEAN (INDORE)
TURMERIC (NIZAMABAD)
RAW JUTE (KOLKATA)
REFINED SOYA OIL (INDORE)
CORIANDER (KOTA)
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 63.54 63.61 62.07 62.15
EUR/INR 85.23 86.00 84.42 84.49
GBP/INR 102.50 102.79 100.65 100.67
JPY/INR 64.51 65.04 63.48 63.57
(Source: FX Central, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
News Flows of last week
01st Oct: Japan's government announced an economic stimulus package on Tuesday worth $50 billion or more
03rd Oct: British house prices posted their largest annual gain in more than three years last month
03rd Oct: UK service sector Q3 growth strongest in 16 years03rd Oct: The number of planned layoffs at U.S. firms fell 20 percent in
September03rd Oct: Growth in the massive U.S. service sector cooled in September03rd Oct: The number of Americans filing new claims for jobless benefits
remained at pre-recession levels last week04th Oct: Rupee rises to a seven-week high
EUR/INR (OCT) contract closed at 84.49 on 03rd October'13. The contract made its high of `86.00 on 30th September'13 and a low of `84.42 on 03rd October'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 84.90
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 44.70. One can sell around 84.50 for a target of 83.20 with the stop loss of 85.20.
`
JPY/INR (OCT) contract closed at 63.57 on 03rd October'13. The contract made its high of `65.04 on 30th September'13 and a low of `63.48 on 03rd October'13 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 64.01.
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 46.38. One can sell below 63.20 for a target of 62.00 with the stop loss of ̀ 63.85.
`
Market Stance
Indian rupee advanced to a seven week high against the dollar to end the week
on a positive note on the back of selling of US currency by banks and exporters
and heavy foreign capital inflow into equities. Positive sentiments were also
added to the market as weakness in dollar index was witnessed in overseas
markets. In New York market, the dollar hit an eight-month low against the euro
last week as investors grew more concerned about the economic effects of a
prolonged shutdown and debt-ceiling debate. A prolonged shutdown could
prompt the Federal Reserve to postpone withdrawing monetary stimulus, which
will weigh on the dollar in the near term. Moreover, the yen also, stayed near a
five-week high as against the dollar after the Bank of Japan kept its policy on
hold, as expected.
EUR/INR
USD/INR (OCT) contract closed at 62.15 on 03rd October'13. The contract made its high of `63.61 on 30th September'13 and a low of `62.07 on 03rd October'13 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 62.90.
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 39.00. One can sell around 62.45 for a target of 61.40 with the stop loss of 63.00.
`
GBP/INR (OCT) contract closed at 100.67 on 03rd October'13. The contract made its high of `102.79 on 30th September'13 and a low of `100.65 on 03rd October'13 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at ̀ 101.03.
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 44.71. One can sell around 100.45 for a target of ̀ 99.15 with the stop loss of ̀ 101.10.
`
USD/INRTechnical Recommendation
GBP/INR JPY/INR
14
®
Economic gauge for the next week
Date Currency Event PREVIOUS
09h Oct GBP NIESR Gross Domestic Product Estimate 0.90%
09h Oct USD Fed Releases Minutes from Sept 17-18 FOMC Meeting
10h Oct GBP Bank of England Rate Decision 0.50%
10h Oct GBP BOE Asset Purchase Target 375B
11h Oct EUR German Consumer Price Index (YoY) 1.40%
11h Oct EUR German Consumer Price Index - EU Harmonised (YoY) 1.60%
11h Oct USD Advance Retail Sales 0.20%
11h Oct USD U. of Michigan Confidence 77.5
11h Oct USD Producer Price Index (YoY) 1.40%
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IPOIPO
INDIAN IPO NEWS
Bharat Petroleum keen on Bina Refinery IPO next fiscal
The second largest oil marketing company Bharat Petroleum Corporation Ltd (BPCL) is hopeful of taking its 6-million tonne Bina Refinery public next
fiscal. Commissioned in January 2011, the 6-million tonne or 120,000 bpd of Arab mix crude processing Bina refinery in Madhya Pradesh, is under a
`2,500-crore expansion to take its capacity to 9 mt. BPCL owns 49 per cent or majority stake in the ̀ 11,397-crore Bina Refinery with the rest being held
by Oman Oil Company, the Madhya Pradesh government and financial institutions. BPCL has laid a 935-km-long pipeline from Vadinar on the Gujarat
coast to Bina to transport the imported crude. The second largest state-run refiner, which has four refineries, is also on an aggressive `45,000-crore
expansion plan over the next three years.
MCX dilutes stake to 3.4 pc in DGCX on rights issue
Country's largest commodity bourse MCX has diluted its stake to 3.4 per cent from the existing 5 per cent in the Dubai Gold and Commodities Exchange
(DGCX) through rights issue option. MCX held 10 per cent stake in DGCX when it began operations in 2005 and later reduced it to 5 per cent. MCX is
promoted by Financial Technologies India Ltd (FTIL), which currently holds 39 per cent DGCX. FTIL is a co-promoter in Dubai-based bourse.
SME: SRG Securities IPO to open on October 7
Rajasthan-based SRG Securities Finance has come out with its initial public offering (IPO) of 25.08 lakh equity shares of ̀ 10 each. The issue will open for
subscription on October 07, 2013. The price band for the issue, which will close on October 14, is fixed at ̀ 20 per share. It aims to raise more than ̀ 5
crore through this issue. Equity shares are proposed to be listed on the SME Platform of BSE Limited. SRG Securities Finance is a NBFC registered with
RBI to carry on NBFC activities. The company is primarily engaged in the business of asset financing by offering business loans; loans against equipment
and machinery; and loans against vehicle. The object of the issue is to raise funds for augmenting capital base and increasing operational scale with
respect to NBFC activities. Aryaman Financial Services Limited is the book running lead manager to the issue.
Indian Oil Corp disinvestment roadshows postponed
The Department of Disinvestment has put off overseas roadshows to promote the sale of a 10 per cent government stake in Indian Oil Corp (IOC)
following stiff opposition from the Petroleum Ministry, which cited poor market conditions. The roadshows, which were planned to attract foreign
investors for the disinvestment in IOC, were due to start in London followed by the US, Singapore, Hong Kong and Dubai next week. The Petroleum
Ministry opposed the proposal, saying the country's crown jewels could not be sold at low prices. The sale of 19.16 crore IOC shares at current prices
would fetch about ̀ 4,000 crore, equivalent to a 10th of this year's disinvestment target. The government held a 78.92 per cent stake in the country's
largest oil refiner as of June 30.
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IPO TRACKER
*Closing prices as on 03-10-2013
Company Sector M.Cap(In Cr.) Issue Size(in Cr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)
*
Just Dial Service provider 5998.03 950.11 5-Jun-13 530.00 590.00 856.25 61.56
Repco Home Fin Finance 1543.43 270.39 1-Apr-13 172.00 165.00 248.30 44.36
V-Mart Retail Trading 364.59 123.00 20-Feb-13 210.00 216.00 203.00 -3.33
Bharti Infra. Telecom 29277.18 4533.60 28-Dec-12 220.00 200.00 155.00 -29.55
PC Jeweller Jewellary 1623.54 609.30 27-Dec-12 135.00 135.50 90.65 -32.85
CARE Rating Agency 1541.84 540.00 26-Dec-12 750.00 949.00 540.05 -27.99
Tara Jewels Jewellary 215.69 179.50 6-Dec-12 230.00 242.00 87.75 -61.85
VKS Projects Engineering 195.93 55.00 18-Jul-12 55.00 55.80 3.11 -94.35
Speciality Restaruants Restaurants 578.08 181.96 30-May-12 150.00 153.00 123.10 -17.93
T B Z Jewellary 792.06 210.00 9-May-12 120.00 115.00 118.75 -1.04
MT Educare Miscellaneous 369.16 99.00 12-Apr-12 80.00 86.05 92.80 16.00
NBCC Construction 1329.00 124.97 12-Apr-12 106.00 100.00 110.75 4.48
Olympic card. Media 52.11 24.75 28-Mar-12 30.00 29.95 31.95 6.50
Multi Comm. Exc. Exchange 2047.65 663.31 9-Mar-12 1032.00 1387.00 401.50 -61.09
Indo Thai Sec. Finance 12.00 29.60 2-Nov-11 74.00 75.00 12.00 -83.78
Vaswani Inds. Steel 8.19 49.00 24-Oct-11 49.00 33.45 2.86 -94.16
Flexituff Intl. Packaging 509.93 104.63 19-Oct-11 155.00 155.00 221.90 43.16
Prakash Constro. Construction 10.43 60.00 4-Oct-11 138.00 145.00 0.83 -99.40
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MUTUAL FUND
NEWS
17
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Reliance MF introduces Fixed Horizon Fund - XXIV - Series 22 Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Fixed Horizon Fund - XXIV - Series 22, a close ended income scheme. The NFO opens for
subscription on Oct 3, 2013, and closes on Oct 7, 2013. The investment objective of the scheme is to generate returns and growth of capital by investing in a
diversified portfolio of the following securities which are maturing on or before the date of maturity of the scheme with the object of limiting interest rate
volatility - Central and State Government securities and other fixed income/ debt securities.
ICICI Prudential MF introduces Fixed Maturity Plan-Series 70-745 Days Plan PICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) of ICICI Prudential Fixed Maturity Plan-Series 70-745 Days Plan P, a Close Ended income
scheme. The NFO opens for subscription on Oct 3, 2013, and closes on Oct 10, 2013. The investment objective of the scheme is to generate income by investing in
a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the Scheme. However, there can be no assurance that the
investment objective of the Scheme will be realized.
IDFC MF introduces Fixed Term Plan Series – 41IDFC Mutual Fund has launched the New Fund Offer (NFO) of IDFC Fixed Term Plan Series - 41, a close ended income scheme. The NFO opens for subscription on
Oct 1, 2013, and closes on Oct 10, 2013. No entry load or exit load will be applicable for the scheme. The investment objective of the scheme is to seek to
generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of series under the scheme. There is no
assurance or guarantee that the objectives of the scheme will be realized.
Mirae Asset Mutual Fund files offer document for Mirae Asset Fixed Maturity Plan (Series I - II) Mirae Asset Mutual Fund has filed offer document with SEBI to launch a close ended income scheme named as “Mirae Asset Fixed Maturity Plan (Series I – II)”. The
New Fund Offer price is Rs 10 per unit. The investment objective of the scheme is to generate income through investments in Debt and Money market instruments
maturing on or before the maturity date of the respective Plan(s).
Morgan Stanley MF Fund announces change in load structureMorgan Stanley Mutual Fund has announced change in the load structure of Morgan Stanley Short Term Bond Fund, with effect from October 01, 2013.
Accordingly, the revised provisions will be: Entry load: Not applicable Exit load: 0.50% if redeemed on or before the expiry of 6 months from the date of allotment
and nil if redeemed after the expiry of 6 months from the date of allotment. Morgan Stanley Short Term Bond Fund, an open ended debt oriented scheme. The
investment objective is to generate income from a diversified portfolio of short to medium term debt and money market securities.
UTI MF declares dividend under FIIF Monthly Interval Plan – II UTI Mutual Fund (MF) has declared dividend under the dividend sub option of UTI Fixed Income Interval Fund Monthly Interval Plan – II. The record date for
dividend is October 07, 2013. The rate of dividend will be 100% of distributable surplus as on the record date on the face value of ̀ 10 per unit. The investment
objective of the Scheme is to generate regular income by investment in Debt/Money Market instruments and Govt Securities having suitable maturity
Kotak MF declares dividend under Quarterly Interval Plan Series 10Kotak Mutual Fund (MF) has declared dividend under the dividend option of Kotak Quarterly Interval Plan Series 10. The record date for dividend is October 07,
2013. The quantum of dividend will be entire appreciation in Net Asset Value of dividend option until October 07, 2013 on the face value of `10 per unit. The
investment objective of the Scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the
interest rate risk .
Baroda Pioneer MF declares dividend under Treasury Advantage FundBaroda Pioneer Mutual Fund (MF) has declared dividend under the Baroda Pioneer Treasury Advantage Fund-Quarterly Dividend Option-Plan A, Plan B (Direct),
Erstwhile Regular Plan. The record date for dividend is October 07, 2013. The investment objective of the Scheme is to provide optimal returns and liquidity
through a portfolio comprising of debt securities and money market instrument. However, there is no assurance or guarantee that the investments objective of
the Scheme will be achieved.
NFOs WATCH
Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount
04-Oct-2013 09-Oct-2013 Close-Ended Growth `5000/-Birla Sun Life Fixed Term Plan - Series IK (91 Days) Regular Plan (G)
Kaustubh GuptaTo generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the Scheme.
04-Oct-2013 09-Oct-2013 Close-Ended Growth `5000/-ICICI Prudential FMP - Series 70 - 369 Days Plan O - Direct Plan (G)
Manish BanthiaTo seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the Scheme.
07-Oct-2013 21-Oct-2013 Close-Ended Growth `5000/-ICICI Prudential Capital Protection Oriented-Sr IV Plan E (36M)-Regular (G)
Rajat Chandak / Rahul Goswami /Atul Patel
To seek to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The debt securities would mature on or before the maturity of the Scheme.
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MUTUAL FUND Performance Charts
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch AUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
ICICI Prudential Exports and Other Services Fund - G 23.67 30-Nov-2005 155.04 19.06 20.64 31.43 7.41 11.61 3.38 0.89 0.01 62.84 27.38 1.75 8.03
Axis Equity Fund - Growth 12.72 05-Jan-2010 563.06 1.92 4.52 10.32 1.48 6.63 2.11 0.84 0.07 76.81 9.27 4.70 9.21
BNP Paribas Equity Fund - Growth 40.73 23-Sep-2004 127.71 5.41 7.30 9.75 3.40 16.82 3.03 0.81 -0.05 80.12 13.14 N.A 6.74
Birla Sun Life India GenNext Fund - G 31.56 05-Aug-2005 168.76 -0.44 6.41 9.28 6.09 15.11 2.89 0.72 0.06 56.63 36.87 4.49 2.02
Tata Ethical Fund - Plan A - Growth 77.89 24-May-1996 108.20 5.77 7.66 8.65 3.03 16.33 3.30 0.84 -0.01 70.05 19.27 N.A 10.68
ICICI Prudential Dynamic Plan - Growth 120.22 31-Oct-2002 3398.03 11.18 7.81 7.21 2.96 25.54 2.82 0.76 0.07 70.05 19.27 N.A 10.68
ICICI Prudential Top 100 Fund - Growth 156.26 09-Jul-1998 379.06 8.38 6.95 7.09 2.89 19.76 3.12 0.86 0.05 84.93 5.35 N.A 9.72
EQUITY (Diversified)
BALANCED
INCOME FUND
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 03/10/2013Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
ULTRA SHORT TERM
SHORT TERM FUND
Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns
Due to their inherent short term nature, the following 2 categories have been sorted on the basis of 6month returns
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch AUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
SBI Magnum Balanced Fund - Growth 56.22 09-Oct-1995 398.12 0.64 2.05 7.01 0.99 15.26 2.55 0.03 30.30 30.31 10.01 29.38
ICICI Prudential Balanced - Growth 56.42 03-Nov-1999 535.01 2.73 3.69 6.29 6.26 13.23 2.40 0.03 49.38 16.13 1.80 32.69
Tata Balanced Fund - Plan A - Growth 98.45 08-Oct-1995 562.98 2.35 4.24 3.57 4.25 15.52 2.54 0.06 55.00 18.76 1.11 25.13
Birla Sun Life 95 - Growth 341.53 10-Feb-1995 584.69 1.39 2.47 2.95 1.82 20.83 2.44 0.06 51.62 13.45 0.83 34.10
FT India Balanced Fund - Growth 53.99 10-Dec-1999 193.03 -0.55 1.82 2.81 1.72 12.97 2.24 0.02 51.85 18.47 0.30 29.37
UTI Balanced Fund - Growth 85.09 20-Jan-1995 869.48 2.06 0.63 1.98 -0.19 15.72 2.41 0.01 54.78 15.98 2.24 27.00
Canara Robeco Balance - Growth 68.32 01-Feb-1993 190.95 1.56 1.01 0.09 1.88 9.93 2.48 0.02 49.16 17.40 1.98 31.46
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch AUM Since Std. SharpeMaturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Tata Dynamic Bond Fund - Plan A - G 18.19 03-Sep-2003 392.85 27.90 -5.85 18.36 9.29 11.38 8.35 6.11 29.44 -0.03 3380.00 9.38
Morgan Stanley Active Bond Fund - Reg - G 12.56 03-Jun-2009 589.86 34.09 -40.67 2.94 5.97 10.72 7.25 5.40 17.54 -0.10 2128.00 7.95
BNP Paribas Flexi Debt Fund - Growth 20.36 23-Sep-2004 597.03 31.98 -25.25 13.00 6.94 9.02 7.71 8.19 49.20 0.04 2646.00 9.81
Canara Robeco Dynamic Bond Fund - Reg - G 13.36 29-May-2009 302.41 31.95 -44.62 8.73 6.03 8.98 8.53 6.89 20.76 -0.01 4541.00 9.36
ICICI Prudential Banking & PSU Debt Fund - G 13.43 01-Jan-2010 537.61 10.50 10.21 10.36 7.52 8.81 8.83 8.17 8.62 0.10 17.00 10.92
Tata Income Plus Fund - Plan A - G 18.74 11-Nov-2002 174.49 25.75 -8.75 22.39 4.50 8.63 7.76 5.93 15.45 -0.04 2548.00 10.19
ICICI Prudential LTP - Reg - Cumulative 25.37 28-Mar-2002 303.39 9.18 8.69 9.18 8.41 8.39 8.01 8.41 5.23 0.07 11.00 10.63
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch AUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
Sundaram Select Debt - S T A P - Reg - Appreciation 21.00 04-Sep-2002 305.37 13.67 11.92 22.52 8.71 10.08 10.74 6.92 10.75 0.02 726.00 10.57
Birla Sun Life Short Term Opportunities Fund - Reg - G 19.51 24-Apr-2003 1029.13 8.91 4.26 19.70 8.60 9.64 9.84 6.60 8.18 0.15 N.A 11.97
Birla Sun Life Medium Term Plan - Reg - G 14.42 25-Mar-2009 1320.35 11.20 4.06 21.27 8.44 9.49 9.79 8.42 9.21 0.12 N.A 12.99
Morgan Stanley Short Term Bond Fund - Reg - G 13.82 26-May-2009 526.66 14.83 10.40 23.45 8.01 8.68 8.98 7.78 14.44 0.03 370.00 9.21
Tata Short Term Bond Fund - Plan A - G 22.52 08-Aug-2002 320.22 17.17 7.30 20.17 7.62 8.76 8.62 7.54 19.21 0.05 504.00 11.00
UTI Short Term Income Fund - Ret - G 21.19 23-Jun-2003 3523.68 23.11 5.81 24.98 7.23 9.00 9.41 7.57 11.30 0.11 1051.00 N.A
Birla Sun Life Short Term Fund - DAP 13.82 06-Mar-2009 5191.74 21.78 12.70 20.73 6.84 8.09 8.84 7.32 15.58 N.A N.A 11.17
Annualised
Returns (%) Risk Average Yield tillScheme Name NAV Launch AUM Since Std. Sharpe Maturity (Days) Maturity
1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.
DSP BlackRock Money Manager Fund - Reg - G 1663.69 31-Jul-2006 1686.27 11.61 12.45 17.37 9.10 8.74 8.60 7.35 2.96 0.05 95.00 N.A
UTI Treasury Advantage Fund - Reg - G 3091.97 12-Jul-1999 7886.67 12.25 11.39 13.27 8.95 8.89 8.84 8.25 2.36 0.18 71.00 N.A
Templeton India Ultra Short Bond Fund - Retail - G 15.66 18-Dec-2007 4132.25 11.08 11.20 13.64 8.92 9.07 9.11 8.05 2.62 0.28 66.00 11.71
DWS Ultra Short-Term Fund - Growth 19.84 21-Oct-2003 1842.88 11.01 13.12 17.07 8.87 8.86 8.90 7.12 2.72 0.20 88.00 12.54
Tata Floater Fund - Plan A - Growth 1837.88 06-Sep-2005 2700.42 11.64 12.14 15.31 8.85 9.04 9.18 7.82 2.60 0.30 103.00 11.15
IDFC Ultra Short Term Fund - Reg - G 17.05 17-Jan-2006 1824.43 11.19 12.61 16.25 8.81 9.11 9.51 7.16 3.33 0.09 94.00 12.27
Birla Sun Life Savings Fund - Ret - G 226.94 27-Nov-2001 4607.40 9.19 10.75 15.04 8.67 8.84 8.94 7.16 2.91 0.17 N.A 12.00
Annualised
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