WISEM NEY - SMC Trade Online...in June after slipping by 0.4 percent to a revised rate of 1.265...
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WISE M NEY 2019: Issue 694, Week: 29th July - 02nd August A Weekly Update from SMC (For private circulation only) May the divine light of god spread into your life. Brand smc 478
Transcript of WISEM NEY - SMC Trade Online...in June after slipping by 0.4 percent to a revised rate of 1.265...
WISE M NEY2019: Issue 694, Week: 29th July - 02nd August
A Weekly Update from SMC(For private circulation only)
May the divine light of god spread into your life.
Bra
nd s
mc
478
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From The Desk Of Editor
(Saurabh Jain)
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n the week gone by, global stock markets largely remained positive but worries
Iover trade and slower global economy continues to remain a worry factor.
Contraction in the manufacturing sector of the Euro zone party attributed to
global trade tensions is threatening to infect the services sector. In the policy review
meeting, European Central Bank (ECB) kept interest rates unchanged but said
significant monetary stimulus is needed as the outlook is getting worse. U.S. Federal
Reserve is too expected to cut rates going next week in the monetary policy review
meeting amid signs of slowing economy. Top US and Chinese negotiators will meet
face-to-face meet in Shanghai next week for two days in the next round of
negotiations aimed at de-escalating a tariff war between the two countries. The
International Monetary Fund (IMF) further reduced its global growth outlook. It said
that policy “missteps” on trade and Brexit could derail a projected rebound.
Back at home, Indian stock markets remained under pressure on the back of weaker
guidance by some of the major companies over languishing consumption growth and
mixed set of results. Undoubtedly, domestic markets are seen struggling with not only
domestic but global issues too. The rupee too remained weak against the US dollar
amid sustained foreign fund outflows and firm crude oil prices. Cumulative rainfall
during this year’s southwest monsoon season upto 24th July, 2019 is below LPA by 19%.
Weaker than expected rainfall could further weaken the rural demand and would be
detrimental to the overall slowing consumption demand. Indeed, the outcome of US
Federal meeting and Reserve Bank of India will be the key events to watch out.
Besides, going forward, factors such as June quarterly earnings, progress of monsoon,
trend in global markets, the movement of rupee against the dollar and crude oil price
movement, inflows and outflow of funds from foreign and domestic investors are
expected to give direction to the market.
On the commodity market front, CRB saw further decline as selling pressure grip was
everywhere in commodities counter. Bullion counter may see some profit booking can
be seen from higher levels. Bullion counter may remain on a volatile path as some
profit booking can be seen at higher levels. Gold can dip lower as it can test 34200
levels in MCX while taking resistance of 35500 levels while silver can test 40500 levels
while taking resistance near 42000 levels. Crude oil may take support near 3800 levels
while taking resistance near 4100 levels. Going forward, BOJ Rate Decision, BOJ
Outlook Report, CPI of Germany, Australia German Unemployment Claims Rate, GDP
of Euro Zone, Canada and Italy, PCE Core, Consumer Confidence Index¸ FOMC Rate
Decision, Fed Chair Powell Holds Press Conference After FOMC Meeting, ISM
Manufacturing, ISM Employment ¸ Change in Non-farm Payrolls and Unemployment
Rate of US, Bank of England Bank Rate, RBC Canadian Manufacturing PMI,
Manufacturing PMI of China, etc are strong triggers for the commodity market in this
week.
Mutual Fund 17-18
Equity 4-7
Currency 14
IPO 15
FD Monitor 16
Contents
Derivatives 8-9
Commodity 10-13
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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 ".
NOTES:
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 26-07-2019*LT has broken the support of 1430
NTPC 129 UP 08.03.19 127 124 120
NIFTY50 11284 UP 08.02.19 10944 10900 10600
INFOSYS 787 UP 14.12.18 706 730 710
BPCL 344 DOWN 12.07.19 346 370 380
Price Trend Trend S/l
Changed Changed
ITC 270 DOWN 31.05.19 279 290 295
ONGC 142 DOWN 12.07.19 149 160 165
HINDALCO 198 DOWN 17.05.19 192 210 215
NIFTY IT 15348 UP 21.07.17 10712 15200 14800
SBIN 343 UP 02.11.18 286 340 330
BHARTIAIRTEL 335 UP 15.03.19 338 335 325
RELIANCE 1214 DOWN 26.07.19 1214 1280 1310
CIPLA 532 UP 01.03.19 552 530 520
ACC 1582 DOWN 14.06.19 1549 1620 1640
NIFTY BANK 29325 UP 30.11.18 26863 27700 27000
TATASTEEL 446 DOWN 10.05.19 487 480 490
L&T* 1392 UP 08.03.19 1339 - 1380
Stocks *Closing Trend Date Rate SUPPORT RESISTANCE Closing
S&P BSE SENSEX 37883 UP 08.02.19 36546 36300 35300
MARUTI 5806 DOWN 26.04.19 6843 6400 6600
ICICI BANK 416 UP 02.11.18 355 400 390
EQUITY
NEWS
FORTHCOMING EVENTS
31/07/2019 The Ramco Cement 300% Dividend
2/8/2019 H D F C Quarterly Results& Others
30/07/2019 Hero Motocorp Quarterly Results30/07/2019 Axis Bank Quarterly Results
8/8/2019 IndusInd Bank 75% Dividend
31/07/2019 I O C L Quarterly Results
31/07/2019 Cipla 150% Dividend
29/07/2019 Titan Company 500% Dividend
29/07/2019 Lupin 250% Dividend
1/8/2019 Marico Quarterly Results1/8/2019 BhartiAirtel Quarterly Results
30/07/2019 Tech Mahindra Quarterly Results31/07/2019 Apollo Tyres Quarterly Results
29/07/2019 Dr Reddy's Labs Quarterly Results
5/8/2019 Berger Paints Quarterly Results
29/07/2019 DLF Quarterly Results
8/8/2019 GAIL (India) 8.85% Final Dividend
2/8/2019 Bata India Quarterly Results
2/8/2019 Reliance Inds. 65% Final Dividend
Meeting Date Company Purpose
31/07/2019 Eicher Motors Quarterly Results
2/8/2019 St Bk of India Quarterly Results
1/8/2019 Godrej Consumer Quarterly Results,Interim Dividend
31/07/2019 Shree Cement 350% Final Dividend
1/8/2019 Britannia Inds. 1500% Dividend
31/07/2019 Cummins India 500% final Dividend
Ex-Date Company Purpose
7/8/2019 Dabur India 150% Final Dividend
5/8/2019 Torrent Power Quarterly Results
1/8/2019 HDFC Bank 250% Special Dividend
31/07/2019 Ashok Leyland Quarterly Results
2/8/2019 ITC Quarterly Results
Oil & Gas
• Nucleus Software announced the launch of the latest version of its transaction banking solution FinnAxia 6.5. This comprehensive transaction banking solution FinnAxia introduces a revolutionary real-time AI-enabled anomaly detection capability, which enables financial institutions to detect fraudulent and duplicate transactions early and proactively act on them.
• US housing starts slid by 0.9 percent to an annual rate of 1.253 million in June after slipping by 0.4 percent to a revised rate of 1.265 million in May. Economists had expected housing starts to fall by 0.6 percent to a rate of 1.261 million from the 1.269 million originally reported for the previous month.
• Dr Reddy's Laboratories has launched generic Ramelteon tablets used for treatment of insomnia in the US market. The company has launched Ramelteon tablets in the str8 mgength of 8 mg after getting approval by the United States Food and Drug Administration (USFDA).
Pharmaceuticals & Healthcare
DOMESTIC NEWS
Information Technology
• Laurus Labs Ltd along with its exclusive distribution partner Rising Pharmaceuticals announced the launch of generic version of Lyrica (pregabalin) capsules in the US market.
• Blue Star has won Rs 253 crore order from the Mumbai Metro Rail Corporation Ltd (MMRCL). The scope of this order includes design, engineering, supply, installation and commissioning of the air conditioning, tunnel ventilation and environmental control system for nine underground stations and associated tunnels on line 3 corridor of the Mumbai Metro between Mumbai Central and Bandra.
Metal
• Alembic Pharmaceuticals has received approval from the US health regulator for Pregabalin Capsules, indicated for management of neuropathic pain associated with certain illnesses. The approved product is therapeutically equivalent to the reference listed drug Lyrica Capsules of PF Prism CV.
Power
• IOC has set a target to invest another Rs 1 trillion in Odisha, as it intends to set up petrochemical units, notably a naphtha cracker unit.
• Producer prices in Japan were up 0.7 percent on year in June, the Bank of Japan said on Thursday - shy of expectations for 0.8 percent and down from the upwardly revised 0.9 percent gain in May (originally 0.8 percent). On a monthly basis, producer prices eased 0.1 percent after sliding 0.2 percent in the previous month.
• US jobless claims fell to 206,000, a decrease of 10,000 from the previous week's unrevised level of 216,000. The drop surprised economists, who had expected jobless claims to inch up to 219,000.
INTERNATIONAL NEWS
Consumer Durables
• US new home sales spiked by 7.0 percent to an annual rate of 646,000 in June after plunging by 8.2 percent to a revised rate of 604,000 in May. Economists had expected new home sales to jump by 5.4 percent to a rate of 660,000 from the 626,000 originally reported for the previous month.
• NTPC Ltd signed a memorandum of understanding to float a joint venture to set up 800 mw technology demonstration plant at NTPC’s existing power plant in Sipat, Chhattisgarh.
• Tata Steel will make an investment of Rs 5,000 crore and chalk out a plan to lower its logistics cost in a phased manner. The immediate plan is to own eight to nine rail rakes. This will be done in the next one year through Tata Martrade International Logistics (TMILL). TMILL is a joint venture of Tata Steel, NYK Holding (Europe), and Germany-based IQ Martrade Holding und Managementgesellschaft.
• US durable goods orders spiked by 2.0 percent in June after plunging by a revised 2.3 percent in May. Economists had expected durable goods to climb by 0.7 percent compared to the 1.3 percent slump originally reported for the previous month.
BSE SENSEX TOP GAINERS & LOSERS (% Change) NSE NIFTY TOP GAINERS & LOSERS (% Change)
SECTORAL INDICES (% Change)
GLOBAL INDICES (% Change)
INDIAN INDICES (% Change)
FII/FPI & MF 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
-10.00
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Bajaj Fin. Tata Motors Tata Motors-DVR
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Bajaj Finserv Bajaj Fin. Eicher Motors Tata Motors Adani Ports
11.05
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Auto Index Bankex Cap Goods Index Cons Durable Index
FMCG Index Healthcare Index IT Index Metal Index Oil & Gas Index Power Index Realty Index
1.13
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0.10
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0.45
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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
Stock Exchange BSE
Face Value (Rs.) 1.00
M.Cap (Rs. in Cr.) 74746.45
P/E Ratio (times) 48.55
P/B Ratio (times) 13.27
EPS (Rs.) 8.71
52 Week High/Low 490.70/357.10
Dividend Yield (%) 0.59
% OF SHARE HOLDING
VALUE PARAMETERS
AHLUWALIA CONTRACTS (INDIA) LIMITED CMP: 331.00 Upside: 21%Target Price: 402
` in cr
• Currency volatility, geopolitical disturbances across geographies, slowdown in category growth rates
Investment Rationale
Valuation
• The company has expanded its distribution reach in Rural India and now it covers to around 48000 villages as compared to 44000 villages in Mar 19. The rural demand still continue to remain better than urban, however the pace is not on expected line. The company has also increased branding and advertisement. Additional discounts were provided in modern trade.
Despite tough operating conditions and high competitive pressures, Dabur brands reported a robust performance during the quarter ended June 2019, growing ahead of the market, delivering strong double-digit growth and gaining market share across key categories like Health Supplements, Hair Care, Oral Care and Foods. Its increased focus on the Consumer Health space and disproportionately higher investments behind Power Brands has started paying dividend. The company will continue to invest behind brands, accelerate on product innovation efforts, and enhance capabilities for sustainable future growth. Thus it is expected that the stock will see a price target of Rs. 484 in 8-10 months time frame on the one year target PE multiple of 52 times and FY20E EPS of Rs. 9.31.
• The Health Supplements business for Dabur ended Q1 with a 19.6% growth. The Digestives category, led by Hajmola and PudinHara, ended the quarter with an 18.2% growth. The OTC and Ayurvedic Ethicals business grew by 14.5% during Q1l. While the Hair Oil business, led by strong demand for Dabur Am la Hair Oil, reported a 12.1% growth, the Shampoo category grew by around 11%. The Skin Care category grew by over 12%, while the Toothpaste business, led by strong demand for Dabur Red Paste, posted an 11.4% growth during the first quarter. The Home Care business grew by nearly 11% during the first quarter of 2018-19.
• The company has earmarked capex (capital expenditure) of Rs 250-300 crore, with this company plans to increase capacity this year. The company has just done a couple of acquisitions in South Africa, and is looking at doing something "substantial" in India going forward.
Risk
• According to the management, input cost inflation is benign while prices are expected to stay soft in FY20E. The company has taken a price hike of1.5% during the
quarter, which it expects to remain at 2% for the year. It also expects to maintain operating margins at 20%.• Dabur India operates in key consumer products
categories like hair care, oral care, health care, skin care, home care and foods.
52 Week High/Low 1768.40/1322.20
P/B Ratio (times) 2.71
Dividend Yield (%) 0.88
M.Cap (Rs. in Cr.) 29744.56
P/E Ratio (times) 17.06
Face Value (Rs.) 10.00
EPS (Rs.) 92.82
Stock Exchange BSE
% OF SHARE HOLDING
VALUE PARAMETERS
HEXAWARE TECHNOLOGIES LIMITED CMP: 382.90 Upside: 15%Target Price: 441
` in cr
The company made significant progress on its goals in the quarter with strong operating performance including good net sales growth. The operating profit of the company has improved significantly and Management believes, higher annual budget allocation for infrastructure, affordable housing, up gradation of roads and Government's strong focus on improving connectivity across the country will drive cement demand going forward. Thus, it is expected that the stock will see a price target of Rs.1801 in 8 to 10 months time frame on one year average P/BV of 2.71x and CY20 (BVPS) Book Value per share of Rs.664.72
Valuation
Investment Rationale
• Regulatory norms changes
• ACC is India's foremost manufacturer of cement and concrete. The company is engaged in the manufacture of cement and ready-mixed concrete.
• Fluctuation in commodity prices
• The company's strong customer relationships, loyal channel network and range of innovative products helped in delivering a robust quarter. In its outlook,
management of the company expects higher annual budget allocation for infrastructure, affordable housing, up gradation of roads and the government's strong focus on connectivity will drive cement demand and aid growth going forward.
• The cement segment revenue, contributing 91% of total revenue, gained 7% to Rs 3,841.39 crore. The ready-mix concrete (RMC) segment revenue, contributing 9% of total revenue, grew 14% to Rs 365.82 crore. The Operating Margin (OPM) has improved to 18.9% and as a result the operating profit (OP) grew 25% to Rs 738.02 crore.
• The company's ready mix concrete business continued to deliver robust sales volume growth of 11% with its focus on value added solutions and strengthened customer network. It also widened its national presence with the addition of eight new plants during the quarter. ACC now has 82 operational ready mix plants in India.
• For quarter ended June 2019, consolidated total income from operation inclined 8% to Rs 4,149.82 crore, due to improvement in cement realization, operational efficiencies and supply chain efficiency improvement. The company's cement sales volumes were flat at 7.20 million tonnes during the quarter, while cement realization improved by 7.2% to Rs 5,335 per ton.
• Despite subdued demand, its operational performance improved substantially this Q2CY19, owing to its deep penetration in rural markets and strong focus on premium products.
Risk
Beat the street - Fundamental Analysis
Source: Company Website Reuters CapitalineAbove calls are recommended with a time horizon of 8 to 10 months.
6
EQUITY
% OF SHARE HOLDING
VALUE PARAMETERS
DABUR INDIA LIMITED CMP: 423.00 Upside: 14%Target Price: 484
` in cr
% OF SHARE HOLDING
VALUE PARAMETERS
ACC LIMITED CMP: 1583.95 Upside: 14%Target Price: 1801
` in cr
ACTUAL ESTIMATE
RoE 10.26% 13.06% 12.64%
Net Income 1520.47 1367.16 1512.12
Ebitda 2048.12 2485.77 2698.07
BVPS 560.24 610.08 664.72
Revenue 14477.47 15829.49 16857.04
Pre-tax Profit 1510.11 1994.91 2179.54
EPS 80.77 76.43 83.71
FY Dec-18 FY Dec-19 FY Dec-20
Pre-tax Profit 1724.87 2045.94 2358.39
BVPS 31.88 37.19 42.41
FY Mar-19 FY Mar-20 FY Mar-21
RoE 25.44% 26.74% 26.82%
Ebit 1562.66 1789.50 2061.60
Net Income 1442.33 1650.03 1893.34
ACTUAL ESTIMATE
EPS 8.14 9.31 10.67
Revenue 8533.05 9419.64 10537.06
Ebitda 1739.56 1987.91 2266.68
21.32
37.936.43
34.329.11
22.15
1.154.53
13.12
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Charts by Spider Software India Ltd
EQUITY
Above calls are recommended with a time horizon of 1-2 months
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.
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.
SOURCE: CAPITAL LINE
The stock is continuously trading in higher highs and higher lows on weekly
charts, which is considered to be bullish. Apart from this, it is forming a “Bull
Flag” pattern on daily chart and has given the breakout of same. It also managed
to close above so buying momentum can continue for coming days. Therefore,
one can buy in the range of 203-206 levels for the upside target of 226-230 levels
with SL below 191.
The stock closed at Rs 209.35 on 26th July, 2019. It made a 52-week low of Rs
148.65 on 21st February 2019 and a 52-week high of Rs. 214.55 on 17th July 2019.
The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart
is currently at Rs 185.42
As we can see on chart that stock has been consolidating since last two months
and has formed a “Continuation Triangle” on weekly charts, which is bullish in
nature. Last week, the stock has given the breakout of same by gained over 2%
and also has managed to close above the same so follow up buying may continue
for coming days. Therefore, one can buy in the range of 200-203 levels for the
upside target of 222-226 levels with SL below 190.
The stock closed at Rs 206.15 on 26th July, 2019. It made a 52-week low at Rs
121.50 on 24th October 2018 and a 52-week high of Rs. 215 on 29th May 2019.
The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart
is currently at Rs 175.04
HeidelbergCement India Limited (HEIDELBERG)
7
Gujarat State Petronet Limited (GSPL)
DERIVATIVES
WEEKLY VIEW OF THE MARKET
After six consecutive sessions of fall and throbbing July series, Indian markets started August series on a positive note, supported by short covering in Auto, PSU
bank & Pharma sector. The options open interest concentration is at the 11400-strike calls with the highest open interest of above 16 lakh shares; among put
options, the 11200-strike taking the total open interest to 21 lakh shares, with the highest open interest among put options. The Implied Volatility (IV) of calls
closed at 12.08% while that for put options closed at 12.39%. The Nifty VIX for the week closed at 12.64% and is expected to remain sideway. PCR OI for the week
closed at 1.50, which indicates OTM put writing. From derivative front, 11200 levels should act as a strong support for Nifty going forward as put writers were
seen adding open interest in 11200 strike. On higher side, however 11300-11350 levels will act as an immediate resistance for Nifty. After a steep fall from 11650
till 11250 levels, we expect markets to consolidate in broader range of 11200-11350 before taking another decisive move.
AMBUJACEM
Max. Loss: 6375.00 (2.55*2500)Max. Profit: 18625.00 (7.45*2500)
Lot size: 2500
SELL AUG 200 PUT 1.90BUY AUG 210 PUT 4.45
BEP: 207.45
OPTIONSTRATEGY
FUTURE
BUY AUG 1000 PUT 28.20SELL AUG 980 PUT 20.40
Max. Loss: 5460.00 (7.80*700)
BEP: 992.20Lot size: 700
Max. Profit: 8540.00 (12.20*700)
HCLTECH
DERIVATIVE STRATEGIES
BUY AUG 440 CALL 6.40
Max. Profit: 8937.50 (7.15*1250)
DABUR
SELL AUG 450 CALL 3.55
Lot size: 1250
Max. Loss: 3562.50 (2.85*1250)
BEP: 442.85
8
BULLISH STRATEGY
Buy: Above `2780
SRF(AUG FUTURE)
Target: `2876
Stop loss: `2725
TITAN (AUG FUTURE)
Buy: Above `1128
Target: `1162
Stop loss: `1109
Target: `566
Stop loss: `604
UPL(AUG FUTURE)
Sell: Below `590
BEARISH STRATEGY
CHANGE IN NIFTY OPTION OI (IN QTY) (MONTHLY)NIFTY OPTION OI CONCENTRATION (IN QTY) (MONTHLY)
CHANGE IN BANKNIFTY OPTION OI (IN QTY) (MONTHLY)BANKNIFTY OPTION OI CONCENTRATION (IN QTY) (MONTHLY)
Call Put
Call Put
In lakhs
Call Put
In 10,000In 10,000
Call Put
In lakhs
1.04
4.04
0.83 2.
07
8.60
7.15
11.8
4
6.72
9.62
9.82
13.6
4
11.3
3
28.2
3
9.31
21.1
4
11.1
0
5.54
10.0
1
2.82
6.39
3.27
5.00
0.00
5.00
10.00
15.00
20.00
25.00
30.00
10800 11000 11100 11200 11300 11400 11500 11600 11700 11800 12000
1.01
1.07
0.53
1.67
7.94
6.12
7.29
3.55
5.13
4.89
3.83
9.09
6.98
5.37
10.2
9
6.30
2.31
0.39
0.26
2.16
2.10 2.
59
0.00
2.00
4.00
6.00
8.00
10.00
12.00
10800 11000 11100 11200 11300 11400 11500 11600 11700 11800 12000
20.8
0
0.46
10.0
8
12.6
5
0.59
23.2
4
15.7
9
5.17 7.
93
2.42
1.47
66.3
1
0.74
7.15
5.81
0.31
17.8
1
3.65
0.87 3.
14
0.09 1.
63
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
29000 29200 29500 30000 30200 30500 31000 31500 32000 32500 33000
-11.
18
0.46
9.11 9.67
0.42
19.4
2
9.66
2.45
1.92
-1.2
0
-0.2
4
2.18
0.74
3.20
-0.3
8
0.29
14.0
8
2.24
0.50
2.94
0.07 1.
32
-15.00
-10.00
-5.00
0.00
5.00
10.00
15.00
20.00
25.00
29000 29200 29500 30000 30200 30500 31000 31500 32000 32500 33000
DERIVATIVES
SENTIMENT INDICATOR (NIFTY)
HISTORICAL VOLATILITY 14.86 15.29 15.59 16.04 16.34
VIX 12.64 12.76 13.43 13.01 13.01
IMPLIED VOLATILITY 12.08 11.93 12.08 11.73 11.36
PCR(VOL) 1.00 1.11 1.66 1.03 0.96
PCR(OI) 1.50 1.57 1.65 1.37 1.40
A/D RATIO(NIFTY 50) 1.04 0.22 0.65 2.19 0.13
A/D RATIO(ALL FO STOCK)* 1.18 0.13 0.69 1.62 0.13
25-Jul 24-Jul 23-Jul 22-Jul 19-Jul
COST OF CARRY% 0.59 0.58 0.57 0.58 0.53
DISCOUNT/PREMIUM 48.90 42.20 48.15 57.75 42.20
*All Future Stock
SENTIMENT INDICATOR (BANKNIFTY)
**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
IMPLIED VOLATILITY 13.91 14.02 14.06 13.70 13.66
VIX 12.64 12.76 13.43 13.01 13.01
HISTORICAL VOLATILITY 19.54 20.10 20.52 21.01 20.16
DISCOUNT/PREMIUM 158.10 105.65 145.05 171.05 53.60
PCR(OI) 1.04 1.05 1.05 1.11 1.32
#A/D RATIO(ALL FO STOCK) 0.60 0.14 0.14 0.60 0.00
COST OF CARRY% 0.59 0.58 0.57 0.58 0.53
A/D RATIO(BANKNIFTY) 1.00 0.20 0.20 0.50 0.00
25-Jul 24-Jul 23-Jul 22-Jul 19-Jul
PCR(VOL) 0.45 0.56 0.65 0.59 0.88
9
FII’s ACTIVITY IN DERIVATIVE SEGMENTFII’S ACTIVITY IN INDEX FUTURE
In Cr. In Cr.
57
2
26
3
-53
-38
5
13
68
-10
59
-10
86 -9
51
-12
63
-11
78
-1500
-1000
-500
0
500
1000
1500
12-Jul 15-Jul 16-Jul 17-Jul 18-Jul 19-Jul 22-Jul 23-Jul 24-Jul 25-Jul
33
73
15
89
10
04
17
51
11
53
-23
14
18
6
-26
6
-31
96
20
31
-4000
-3000
-2000
-1000
0
1000
2000
3000
4000
12-Jul 15-Jul 16-Jul 17-Jul 18-Jul 19-Jul 22-Jul 23-Jul 24-Jul 25-Jul
Bottom 10 RolloverTop 10 Rollover
ADANIENT 129.35 99.1% 28652000
OFSS 3315.7 99.3% 238050
MARICO 362.9 99.3% 8320000
DRREDDY 2662.6 99.3% 3278000
PIDILITIND 1232.75 99.2% 2627000
LTP Rollover % Open interest
SRTRANSFIN 988.45 98.6% 4993200
MCDOWELL-N 585.85 98.7% 10547500
CIPLA 535.85 99.1% 10837000
BERGEPAINT 325.35 98.6% 2246200
BOSCHLTD 14962.1 98.7% 157680
NATIONALUM 45.2 74.5% 31740000
CONCOR 522.8 56.8% 1553622
OIL 155 72.9% 8283363
INDIGO 1587.2 62.6% 2604000
POWERGRID 212.05 73.5% 25796000
LTP Rollover % Open interest
RECLTD 144.65 67.7% 28830000
UPL 608.3 68.4% 11267100
BHEL 61.4 70.8% 40305000
KAJARIACER 473.7 75.1% 2199600
MCX 838.8 70.8% 1599500
10
Turmeric futures (Aug) is expected to trade with a downside bias in the range of 6650-7050 levels. The sowing operations are almost inching to close with 87% done in the state of Telegnana. It is reported by the agriculture department that as on 25h June, turmeric has been sown on 42466 hectares against the target area of 48673 hectares. Giving a negative reaction, the spot prices have started dipping further in the major spot markets. Jeera futures (Aug) is on the verge of breaking the support near 17550 levels and thereafter may witness correction towards 17200-17000 levels. The spot prices are not showing firmness due to slowdown in overseas and domestic demand. High moisture content in the spice due to rains in key-growing regions has discouraged fresh buying despite slowdown in arrivals. The trend of dhaniya futures (Aug) trading near three months low has reversed its trend to bearish after the steep correction that occurred last week on the reports of higher imports from overseas markets. In days to come, we may see an extended downtrend towards 6000- 5800 levels. Cardamom futures (Aug) is ready to get skyrocketed to test 3500-3700 levels. Arrivals of the new crop of cardamom have started at the auction centres in Bodinayakanur in Tamil Nadu and Vandanmedu in Kerala. Planters are plucking cardamom even before the fruit is mature to avail of the record-high prices. Although there has been a correction of 50 rupees per kg since the new crop started arriving in markets, prices are unlikely to fall much in the long term even when arrivals double in Sep-Oct due to huge shortage of the spice in the domestic market.
SPICES
Bullion counter may remain on a volatile path as some profit booking can be seen at higher levels amid surge in greenback and the fact that expectation of rate cut in this week by Fed is already discounted in the prices. Market participants are now looking ahead to the U.S. central bank's July 30-31 monetary policy meeting where it is expected to trim its interest rate by at least 25 basis points. The Fed committee will be thinking about two main factors. One is that inflation continues to be low, despite the fact that unemployment is also low by historical standards. Nearly eight years ago, Fed adopted an inflation target of 2 percent, which has largely remained out of reach. The ECB signaled its intention to explore monetary easing, but left interest rates unchanged, and bank President Mario Draghi struck a more upbeat tone on the economy than investors expected. Gold can dip lower as it can test 34200 in MCX while taking resistance of 35500 while silver can test 40500 while taking resistance near 42000. In the United States, manufacturing activity slowed to a 10-year low in early July with production volumes and purchases falling. Weak housing and manufacturing are offsetting strong consumer spending, holding back the economy and posing a threat to the longest expansion in history. In India, the world's second-biggest gold consumer, dealers were forced to offer the highest discounts since August 2016, at about $33 over official domestic prices. This compared with $20 discounts in penultimate week.
BULLIONS
Soybean futures (Aug) is likely to cling on the support near 3540 levels, while an upside of 3665-3680 can be seen on account of short covering coupled with lower level buying. This oilseed's yield is under threat in Maharashtra, Madhya Pradesh, and Rajasthan. Some soybean-growing regions in Maharashtra's Vidarbha and Marathwada are yet to start sowing, which is already delayed by five to six weeks. Mustard futures (Aug) is expected to show an upside momentum towards 3970-3990 levels, taking support near 3900 levels. The arrivals on the spot markets are slowing down gradually and on the flip side, it is anticipated that looking at the crunch on the supply side, demand may pick-up from oil millers and mustard meal exporters. Soy oil futures (Aug) is expected to retest the contract high near 745 levels, while CPO futures (Aug) may gain further strength and head towards 535, if it breaches the resistance near 520 levels. It has been reported recently that the Farm ministry has proposed a cess on imported edible oils to discourage the influx of cheaper oil and support domestic oilseed farmers. In a new development, the agriculture ministry has proposed a cess on imports of all edible oils to check huge arrival of cheaper oil in the country, adding that quantum of the cess is yet to be decided. The government already levies higher import duties, ranging between 40% and 54%, on edible oils to prevent cheap imports from flooding the domestic market. Despite the high duties, imports of crude palm oil have been on the rise due to a sharp fall in global prices, hurting the domestic refining industry.
OIL AND OILSEEDS
Crude oil prices may continue to witness volatile movement as global
economic growth is likely to slow further amid the U.S.-China trade war,
although tensions in the Middle East will limit the downside. Crude oil may
take support near 3800 levels while taking resistance near 4100 levels. While
concerns over Middle East supply disruptions have led to recent price spikes,
oil has generally been under pressure from worries about global economic
growth amid growing signs of harm from the rumbling Sino-U.S. trade war over
the past year. Crude stocks at the Cushing, Oklahoma, and delivery hub fell by
448,000 barrels, although gasoline stocks rose by 4.4 million barrels,
compared with expectations for a 730,000-barrel decline. Iran’s capture of a
British oil tanker recently sparked worries about supply disruptions in the
Strait of Hormuz, through which about a fifth of the world’s oil flows. The
tensions come as the United States aims to cut off Iran’s oil exports and
against the backdrop of supply cuts led by the Organization of the Petroleum
Exporting Countries since the start of the year to prop up prices. U.S. shale
producers are poised to further trim spending this year, that provide drilling
and hydraulic fracturing services. Natural gas may witness selling pressure
and it can test 145 while taking resistance near 165. EIA forecasts that Henry
Hub natural gas spot prices will average $2.50 per million British thermal units
MMBtu in the second half of 2019 and $2.77 per MMBtu in 2020.
ENERGY COMPLEX
Cotton futures (Aug) may give a good buying opportunity near 20750, eyeing a target of 21550 levels. The optimism is returning to the market participants after the news that the Chinese government has approved several domestic companies to buy U.S. cotton, corn, sorghum and pork without being subject to hefty retaliatory tariff. Even some textile mills have been given permission to purchase a total 50,000 tons of U.S. cotton without paying the 25% retaliatory duty. Back at home, cotton prices are still elevated owing to better quality and lower output in the last season. The trend of cocud futures (Aug) is bullish & can test 3300 levels. Cotton is the primary raw material for cottonseed oilcake & there is drought-like situation in the key growing states of Gujarat and Maharashtra. The Cotton Association of India has cut its production estimate due to a sharp fall in yield to 420.7 kg per ha, the lowest in 10 years. The association sees cotton production this season at 31.2 mln bales, against 36.5 mln bales projected in the last season. Castor seed futures (Aug) is expected to consolidate in the range of 5435-5635 levels. Despite weak export demand, any sharp correction may remain limited due to a fall in the acreage of the oilseed amid rising demand from domestic stockists. Mentha oil (Aug) may remain stable in the range of 12420-1330 levels. Prices of mentha oil are steady in the key markets of Uttar Pradesh due to a fall in arrivals amid rising demand for the spice oil from overseas buyers. At Chandausi, a key market, the spice oil was sold in the range of 1,435-1,445 rupees per kg.
OTHER COMMODITIES
Base metal counter can trade on sideways path as lead negotiators for China
and the United States will meet in Shanghai on Tuesday this week for two days
in the next round of trade talks aimed to end their year-long trade war, China’s
commerce ministry stated. China will further ease its economic policy to deal
with a prolonged and costly trade war with the United States, but it would
save more aggressive measures as last resorts should the dispute get uglier.
Copper may move take support near 440 levels while facing resistance near
460 levels. The global world refined copper market showed a 96,000 tonnes
deficit in April, compared with a 42,000 tonnes deficit in March, the
International Copper Study Group stated. Meanwhile, Lead may continue its
recovery as it can test 165 while taking support near 152 levels. The lead
deficit, meanwhile, rose to 42,000 tonnes from 34,000 tonnes. Lead has been
supportive as investors were worried about a supply shortage amid some
maintenance activities in China along with falling LME inventories and that is
reflecting on the cash -3m spread which are at a $10.50 premium indicating
nearby supply shortage. Zinc may test 197 levels while taking support near 188
levels. Nickel prices can move sideways in range of 970-1020. Aluminium can
trade also trade sideways as it can take support near 140 levels while taking
resistance near 148 levels. Global aluminium production fell by 0.5% in the
first half of this year, according to the International Aluminium Institute (IAI).
BASE METALS
11
TREND SHEET
Closing as on 25.07.19
EXCHANGE COMMODITY CONTRACT CLOSING DATE TREND TREND RATE TREND SUPPORT RESISTANCE CLOSING
PRICE CHANGED CHANGED STOP/LOSS
NCDEX SOYABEAN AUG 3618.00 27.03.19 Sideways 3650.00 3520.00 3820.00 -
NCDEX JEERA AUG 17660.00 20.06.19 Sideways 16970.00 17000.00 18300.00 -
NCDEX REF.SOY OIL AUG 735.25 08.07.19 Down 739.00 - 747.00 750.00
NCDEX RMSEED AUG 3948.00 11.03.19 Down 3969.00 - 4030.00 4050.00
NCDEX CHANA AUG 4292.00 17.06.19 Down 4425.00 - 4470.00 4500.00
NCDEX GUARSEED AUG 4222.00 27.05.19 Down 4350.00 - 4430.00 4450.00
NCDEX COCUD AUG 3144.50 01.01.19 UP 1940.50 3020.00 - 3000.00
NCDEX CASTOR AUG 5554.00 25.04.19 Down 5900.00 - 5730.00 5750.00
MCX CPO AUG 516.20 11.07.19 Sideways 495.00 500.00 530.00 -
MCX MENTHA OIL AUG 1283.70 21.01.19 Down 1551.90 - 1330.00 1340.00
MCX SILVER SEP 41388.00 05.06.19 UP 37000.00 40000.00 - 39900.00
MCX GOLD AUG 35156.00 05.06.19 UP 33350.00 34300.00 - 34200.00
MCX COPPER AUG 450.75 17.07.19 UP 442.00 439.00 - 438.00
MCX LEAD AUG 156.30 24.05.19 UP 149.00 151.00 - 150.00
MCX ZINC AUG 193.05 23.04.19 Sideways 220.00 188.00 197.00 -
MCX NICKEL AUG 979.90 18.06.19 UP 880.00 928.00 - 925.00
MCX ALUMINIUM AUG 143.80 01.05.19 Sideways 144.80 140.00 146.00 -
MCX CRUDE OIL AUG 3908.00 15.07.19 Down 4072.00 - 4020.00 4050.00
MCX NATURAL GAS AUG 154.40 21.01.19 Down 217.90 - 168.00 170.00
TECHNICAL RECOMMENDATIONS
CHANA NCDEX (AUG) contract closed at Rs. 4292.00 on 25th Jul’19. The contract made
its high of Rs. 4828.00 on 20th May’19 and a low of Rs. 4171.00 on 3rd Jul’19. The 18-day
Exponential Moving Average of the commodity is currently at Rs. 4370.30. On the daily
chart, the commodity has Relative Strength Index (14-day) value of 49.054.
One can buy near Rs. 4240 for a target of Rs. 4400 with the stop loss of Rs. 4170.
NICKEL MCX (AUG) contract closed at Rs. 979.90 on 25th Jul’19. The contract made its
high of Rs. 1049.40 on 18th Jul’19 and a low of Rs. 869.00 on 18th Jun’19. The 18-day
Exponential Moving Average of the commodity is currently at Rs. 989.40. On the daily
chart, the commodity has Relative Strength Index (14-day) value of 60.161.
One can buy near Rs. 970 for a target of Rs. 1050 with the stop loss of Rs. 930.
DHANIYA NCDEX (AUG) contract was closed at Rs. 6295.00 on 25th Jul’19. The contract
made its high of Rs. 7820.00 on 21st May’19 and a low of Rs. 6228.00 on 25th Jul’19. The
18-day Exponential Moving Average of the commodity is currently at Rs. 7100.00. On the
daily chart, the commodity has Relative Strength Index (14-day) value of 23.262.
One can buy above Rs. 6350 for a target of Rs. 6600 with the stop loss of Rs 6225.
NEWS DIGEST
CRB witnessed further decline as selling pressure was everywhere in the commodities counter.
Gold prices edged lower in MCX, reflecting the global trend. Investors locked in profits ahead of
major central bank meetings this month. A higher US dollar, which hovered near multi-week
highs against a basket of currencies, also weighed on gold prices. The US Fed is widely expected
to lower interest rates, its first cut in a decade. A series of purchasing manager index (PMI)
readings in US came in weaker than expected; further boosting hopes of lower interest rates.
Silver maintained its upside journey for the third week on strong technical across the board. ECB
left interest rates unchanged Thursday, but policymakers said they envision a “highly
accommodative stance of monetary policy for a prolonged period of time. Crude remained
surrounded with negative as well as positive triggers and closed the week on little higher side;
while natural gas surrendered its previous gains and closed in weaker territory. Oil prices rose,
extending gains after an industry group reported a much bigger than expected drop in US
inventories, while the US Navy said it may have downed a second Iranian drone last week. Signs
of rising tensions in the Middle East offset a weaker global growth outlook from the International
Monetary Fund. U.S. crude inventories dropped by 10.8 million barrels for the week ended July
19, according to data from Energy Information Administration released Wednesday. Natural gas
prices posted a steep decline last week in a move that may have confused traders. Extremely
hot temperatures nearly covered the entire United States, but buyers remained scarce and
support eroded. Even the previous weekend’s passing of Hurricane Barry couldn’t give prices a
boost due to lower demand. Almost all the base metals turned weak, except lead on weak
sentiments.
In agri, castor was weak on lower export. India's castor oil exports plunged 11% on year to 50,577
tonnes in June. Fall in exports are primarily due to eroding demand from traditional buyers,
mainly China. Cotton oil seed cake saw magical highs in past few trading sessions. In spices,
dhaniya prices crashed on speculative selling. Jeera saw some profitbooking after few week of
upside trade. Soybean futures took support on reports of lower sowing data this season. Farmers
in the country have sown soybean on 7.98 mln ha as of Thursday, down 11% on year, according to
farm ministry data.
12
WEEKLY COMMENTARY
COTTON BALES 131700.00 126500.00 -5200.00
GOLD KGS 139.00 438.00 299.00
GOLD MINI KGS 97.20 113.20 16.00
GOLD GUINEA KGS 7.00 7.00 0.00
MENTHA OIL KGS 315522.37 391150.37 75628.00
NICKEL MT 89.13 89.13 0.00
SILVER (30 KG Bar) KGS 13136.45 12923.81 -212.64
ZINC MT 616.83 631.87 15.04
COMMODITY UNIT 18.07.19 25.07.19 DIFFERENCE
QTY. QTY.
ALUMINIUM MT 3247.73 3877.91 630.18
WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
COMMODITY UNIT 18.07.19 25.07.19 DIFFERENCE
QTY. QTY.
BARLEY MT 8636 8586 -50CASTOR SEED MT 99178 94462 -4716CHANA MT 101009 101111 102COCUD MT 7765 4735 -3030CORIANDER MT 6407 6984 577GUARGUM MT 11011 8810 -2201GUARSEED MT 14225 11130 -3095JEERA MT 1694 1601 -93MAIZE (RABI) MT 12377 11869 -508RM SEED MT 55572 53171 -2401SOYBEAN MT 20738 10285 -10453TURMERIC MT 5148 4034 -1114WHEAT MT 32922 33042 120
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)
• The CME Group will launch Black Sea Sunflower Oil
Financially Settled (Platts) futures on Aug 26, 2019.
• ECB signaled its intention to explore monetary easing but
left interest rates unchanged last week.
• Brazil's Vale SA second-quarter iron ore production
plunged almost 34% from a year ago.
• Chilean miner Antofagasta Plc reported a nearly 22%
jump in copper output in the second quarter, helped by
an expansion at its flagship Los Pelambres mine.
• IMF cut its forecast for global growth this year and next,
warning that further U.S.-China tariffs or a disorderly
exit for Britain from the European union could further
slow growth.
• The water level in India's 91 key reservoirs was about 37%
lower on year at 40.836 bcm, according to data released
by the Central Water Commission. The water level is now
25% of the total live storage capacity of 161.993 bcm.
• The country has received 325.5 mm rainfall so far this
monsoon season, against the normal of 394.3 mm, 17%
below normal.
• SEBI has renewed the recognition for Multi Commodity
Exchange Clearing Corp Ltd to act as a clearing
corporation by three years.
• MCX will not to launch any further contracts in crude oil
mini (10 barrels) future. The existing December contract
expiring on Dec 18 would be the last contract available
for trading,
3.80% 3.80%
2.10% 2.09%
1.74%
-3.00%
-2.00%
-1.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
LEAD CARDAMOM CPO CRUDE OIL SILVER NICKEL MENTHA OIL COPPER ALUMINIUM MINI NATURAL GAS
-2.62%
-2.19%
-1.66%-1.47%
-0.64%
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
-15.00%
-10.00%
-5.00%
0.00%
5.00%
10.00%
COCUD CPO KAPAS SOYABEAN MOONG CORIANDER PADDY BASMATI TURMERIC GUAR GUM GUAR SEED
7.73%
3.09%
1.11% 0.92% 0.83%
-11.26%
-3.47%-2.89% -2.85%
-1.95%
COMMODITY
PRICES OF COMMODITIES IN LME/ COMEX/ NYMEX (in US $)
WEEKLY STOCK POSITIONS IN LME (IN TONNES)
SPOT PRICES (% change) Basmati Paddy 1121..... Premium rice on premium price
13
COMMODITY EXCHANGE CONTRACT 19.07.19 25.07.19 CHANGE%
ALUMINIUM LME CASH 1833.00 1795.50 -2.05
COPPER LME CASH 6066.00 6010.00 -0.92
LEAD LME CASH 2071.50 2123.50 2.51
NICKEL LME CASH 14225.00 13995.00 -1.62
ZINC LME CASH 2427.00 2436.00 0.37
GOLD COMEX AUG 1426.70 1414.70 -0.84
SILVER COMEX SEPT 16.20 16.41 1.30
LIGHT CRUDE OIL NYMEX SEPT 55.76 56.02 0.47
NATURAL GAS NYMEX AUG 2.25 2.24 -0.44
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE
18.07.19 25.07.19
ALUMINIUM 987275 953500 -33775
COPPER 299600 295000 -4600
NICKEL 148374 145056 -3318
LEAD 63075 57425 -5650
ZINC 80650 76775 -3875
INTERNATIONAL COMMODITY PRICES
COMMODITY EXCHANGE CONTRACT UNIT 19.07.19 25.07.19 CHANGE(%)
Soybean CBOT AUG Dollars Per Bushel 9.01 8.82 -2.11
Soy oil CBOT AUG Cents per Pound 28.10 28.27 0.60
CPO BMD OCT MYR per MT 1972.00 2058.00 4.36
Cotton ICE DEC Cents per Pound 63.07 64.19 1.78
Basmati is one of the unique specialty rice varieties and famous for its quality like
attractive aroma, soft texture of cooked rice, high volume expansion during cooking,
easy digestibility and longer shelf-life. Recently the NCDEX & ICEX both has launched
futures trading in Basmati Paddy to provide effective risk management tool for market
participants and a fair price discovery platform for the highly volatile basmati paddy.
Domestic scenario of Rice
India is the second largest producer of rice in the world, producing nearly 23 percent
of the Global rice production with approximate production of 116 million tonne. But
India is the largest producer of Basmati rice in the world, producing nearly 70 percent
of the global Basmati production. India produces about 5.5 million tonne Basmati
about 5% out of its total paddy production.
Major Basmati rice variety produced in India is PUSA 1121. Haryana is the leading
Basmati Rice producing state in India while Punjab is largest producer of Basmati
Pusa-1121. Haryana & Punjab both contribute about 83% of basmati rice production
and about 89% of Pusa-1121 production of India. Other Basmati rice producing states
includes Uttar Pradesh and Uttarakhand. During the 2018-19 kharif season, basmati
was sown across 1.52 mln ha, lower from 1.55 mln ha in the year ago period.
-5.63
-4.82
-3.89
-1.14
-0.97
-0.31
-0.17
-0.15
0.00
0.57
0.72
0.92
1.13
1.73
2.97
3.40
-7.00 -6.00 -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00
GUAR GUM (JODHPUR)
GUAR SEED (JODHPUR)
CORIANDER (KOTA)
SOYABEAN (INDORE)
JEERA (UNJHA)
GUR (MUZAFFARNGR)
COTTON (KADI)
TURMERIC (NIZAMABAD)
MUSTARD (JAIPUR)
RAW JUTE (KOLKATA)
PEPPER MALABAR GAR (KOCHI)
BARLEY (JAIPUR)
SUGAR (KOLKATA)
WHEAT (DELHI)
COTTON SEED OIL CAKE (AKOLA)
CRUDE PALM OIL (KANDLA)
Haryana 634 2313 428 1455
Punjab 547 2059 482 1751
Uttar Pradesh 251 746 138 386
Uttarakhand 15 38 3 9
J&K 62 135 8 25
Himachal Pradesh 7 20.4 2 5
StatePusa Total Basmati 1121Total Basmati
Area(in 000 ha.)
Production(In 000 tn)
Area(in 000 ha.)
Production(In 000 tn)
Source: APEDA
Global rice production
Globally China is the leading rice producer with more than 30% share of global
production of more than 500 million ton. India, Indonesia and Bangladesh are the top
rice producing countries. Basmati contributes 8-9 million tonne of total global rice
production. After major contribution of India, Pakistan contributes about 30% share
of global basmati production.
Global trade of Basmati Rice
India is the leading exporter of the Basmati Rice to the global market both in terms of
value as well as volume. Export of Basmati rice is increasing at a CAGR of 6%. Nearly 80
percent of the total Basmati production is exported. Basmati rice fetches a premium
price in the international market. According to APEDA data, India exported basmati
rice worth Rs.32,806 crore in 2018-19, which is 22% higher than the Rs26,870 crore
achieved during 2017-18. Volume-wise also, India shipped 4.88 million tonnes of
basmati, which is a record in itself. India has earned over Rs 18,000 in foreign
exchange every year
from export of Pusa
b a s m a t i 1 1 2 1 r i c e
va r ie ty. A lmost 132
countries have been
importing Basmati from
India every year. Out of
which, Iran, Saudi Arabia,
UAE and Iraq are the
major importers. Apart
from India, Pakistan also
exports Basmati to many
countries.Source: APEDA
CURRENCY
Currency Table
Currency Pair Open High Low Close
USD/INR 68.9575 69.1450 68.8925 69.0475
EUR/INR 77.4925 77.6075 76.74 76.9625
GBP/INR 86.3550 86.4675 85.7050 86.2875
JPY/INR 63.92 64.0925 63.75 63.9075
News Flows of last week
(* NSE Currency future, Source: nseindia.com, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
23rd JUL Dissent takes the spotlight in RBI vs. Finance ministry fight.
24th JUL Boris Johnson replaced Theresa May as the UK’s new prime minister.
24th JUL ECB left rates unchanged, opened doors to rate cuts, more bonds buying.
25th JUL After Garg’s exit, sovereign overseas bond dream fades.
Market Stance
Indian Rupee continued to drift lower this week amid steep outflows in domestic
equities and debt in July. Admittedly the undertone of positivity faded in domestic
unit after RBI Governor’s comment about policy action. In an interview to
Bloomberg, Governor said RBI's recent decision to shift the stance of monetary
policy to 'accommodative' "itself means a rate cut of 25 basis points at least," and
that future policy action would depend on incoming data, which led the Rupee
traders to roll-back expectations of aggressive monetary policy easing. On the
global front, Mario Draghi in his latest monetary policy kept re-financing rate
unchanged and further talked about stimulus addition to the economy which is
presently worsening abruptly. The euphoria remains muted both in exchange rate
and in European equities as well. Since the launch of QE1 in 2015, European stocks
hardly performed which can be translated as debt created cannot be proportional
to growth. Pound remains fragile after Boris Johnson entered Downing Street as PM
of UK. Standing on the steps of Downing Street he said “no ifs or buts” Britain would
leave the EU in 99 days’ time. Going forward next week, FOMC rate decision will
guide bonds and currencies, although a 25 bps cut is highly priced-in.
USDINR is likely to take support near 68.80 and move higher towards 69.40 in the
next week.
14
EUR/INR (AUG) contract closed at 77.3475 on 25th Jul’19. The contract made its
high of 78 on 22nd Jul’19 and a low of 77.12 on 25th Jul’19 (Weekly Basis). The 14-
day Exponential Moving Average of the EUR/INR is currently at 77.84
On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 28.34.
One can sell at 77.80 for a target of 77.20 with the stop loss of 78.10.
EUR/INR
USD/INR (AUG) contract closed at 69.2675 on 25th Jul’19. The contract made its
high of 69.7650 on 23rd Jul’19 and a low of 69.02 on 23rd Jul’19 (Weekly Basis).
The 14-day Exponential Moving Average of the USD/INR is currently at 69.19
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of
46.53. One can buy at 69.15 for the target of 69.75 with the stop loss of 68.85.
USD/INRTechnical Recommendation
GBP/INR (AUG) contract closed at 86.66 on 25th Jul’19. The contract made its
high of 86.84 on 22nd Jul’19 and a low of 86.0750 on 23rd Jul’19 (Weekly Basis).
The 14-day Exponential Moving Average of the GBP/INR is currently at 86.72
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 40.33.
One can sell at 87 for a target of 86.40 with the stop loss of 87.30.
GBP/INR
JPY/INR (AUG) contract closed at 64.2150 on 25th Jul’19. The contract made its
high of 64.40 on 22nd Jul’19 and a low of 64.07 on 25th Jul’19 (Weekly Basis). The
14-day Exponential Moving Average of the JPY/INR is currently at 63.19
On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 47.20.
One can sell at 64.10 for a target of 63.50 with the stop loss of 64.40.
JPY/INR
Economic gauge for the next week
Date Currency Event Previous
30th JUL JPY Monetary Policy Statement -
30th JUL USD CB Consumer Confidence 121.5
31st JUL EUR CPI Flash Estimate y/y 1.2%
31st JUL USD Federal Funds Rate <2.50%
1st AUG USD FOMC Press Conference -
1st AUG INR Markit Manufacturing PMI (JUL) 52.1
1st AUG GBP Monetary Policy Summary -
1st AUG GBP ISM Manufacturing PMI 51.7
2nd AUG USD Average Hourly Earnings m/m 0.2%
2nd AUG USD Non-Farm Employment Change 224K
2nd AUG INR Foreign Exchange Reserves 26-JUL -
IPOIPO
About the Company
Incorporated in 2005, Affle (India) Limited is a mobile marketing firm offering a Consumer and Enterprise Platforms. Its Consumer Platform primarily provides the following services: (1) new consumer conversions (acquisitions, engagements and transactions) through relevant mobile advertising; (2) retargeting existing consumers to complete transactions for e-commerce companies through relevant mobile advertising; and (3) an online to offline (“O2O”) platform that converts online consumer engagement into in-store walk-ins. As at March 31, 2019, its Affle Consumer Platform had approximately 2.02 billion consumer profiles, of which approximately 571 million were in India, 582 million were in Other Emerging Markets and 867 million were in Developed Markets .
Strength
Its Consumer Platform has a leading position in India; a high growth market with substantial barriers to entry: The company has increased its breadth of its service offerings, especially to e-commerce and mobile app driven companies, following the acquisition of its Vizury Commerce Business and its RevX Platform. Industry the company serves has a high growth market with substantial barriers to entry.
Profitable, low-cost business model built on an asset light, automated and scalable platform: Its Affle Consumer Platform is supported by a flexible and scalable infrastructure, built in-house using cloud computing infrastructure. The ability of the company to generate actions has improved with increased user intelligence and targeting. As at May 31, 2019, it had 236 employees, of which 209 were in India.
Strong consumer profiles: As at March 31, 2019, the Affle Consumer Platform had approximately 2.02 billion consumer profiles, of which approximately (a) 571 million consumer profiles were in India, (b) 582 million consumer profiles were in Other Emerging Markets; and (c) 867 million consumer profiles were in Developed Markets. For Fiscal 2019, its Affle Consumer Platform accumulated over 300 billion data points.
Growth driven, global customer base: The Company is currently working with all of the top six global advertising agency groups (WPP (GroupM); Publicis; Omnicom (OMG); Dentsu Aegis Network (DAN); Interpublic Group (IPG) Mediabrands and Havas. ) and with other mobile focussed advertising agencies, such as M&C Saatchi Mobile, and with domestic advertising agencies, such as Interactive Avenues and Madison.
Business is engaged with e-commerce companies: Vizury Commerce Business and RevX Platform have expanded its engagement with e-commerce companies to include retargeting services and its Vizury Commerce Business expands its reach in the Middle East and Africa.
Strategies
To Enhance its Affle Consumer Platform’s revenue: The company intends to continue to grow its Affle Consumer Platform’s revenue by gaining new customers in the fast-growing e-commerce market, through its existing sales team in India and through referrals from existing customers. The company also intends to increase the number of consumer profiles in Tier 2 cities, Tier 3 cities and rural markets, which are areas that its customers have not placed much emphasis on to date.
Expand its international business: The Company intends to increase the Monetization Factor for its Affle Consumer Platform’s consumer profiles outside India by increasing its business development efforts to gain more customers outside India and through referrals from its existing customers.
Continue to develop its award-winning fraudulent data detection and prevention platform: The Company intends to continue to build more fraud checks to detect and prevent mobile advertisement fraud and hence ensuring actual returns to its customers. It has also applied for 10 patents in India covering various algorithms in the area of digital fraud detection, all of which are pending.
Risk Factors
Ÿ Tough competition
Ÿ Business is concentrated around key customers.
Ÿ Significant amount of its business is conducted through advertising agencies.
Outlook
AIL is having a unique business model and the company earns 70% from its global business and the rest 30% from home. The company runs the asset-light business model with debt-free status. The company has stated that it has applied for 10 patents in India covering various algorithms in the area of digital fraud detection, all of which are pending. It has no listed peers to compare with.
AFFLE (INDIA) LIMITED
IPOIPO
Issue Highlights
Industry E-Commerce
Offer for sale (Shares) 4,953,020
Fresh Issue (Shares) 1,208,054
Net Offer to the Public 6,161,074
Issue Size (Rs. Cr.) 455-460
Price Band (Rs.) 740-745
Offer Date 29-Jul-19
Close Date 31-Jul-19
Face Value 10
Lot Size 20
Issue Composition
Total Issue for Sale 6,161,074
QIB 4620805
NIB 924161
Retail 616107
In shares
Valuation
Considering the P/E valuation on the upper end of the
price band of Rs. 745, the stock is priced at pre issue
P/E of 37.06x on its FY19 EPS of Rs. 20.10. Post issue,
the stock is priced at a P/E of 38.91 x on its EPS of Rs.
19.15. Looking at the P/B ratio at Rs. 745 the stock is
priced at P/B ratio of 24.99x on the pre issue book
value of Rs.29.81 and on the post issue book value of
Rs. 63.70 the P/B comes out to 11.70x.
On the lower end of the price band of Rs.740 the stock
is priced at pre issue P/E of 36.81x on its FY19 EPS of
Rs. 20.10.Post issue, the stock is priced at a P/E of
38.65x on its EPS of Rs. 19.15. Looking at the P/B
ratio at Rs. 740, the stock is priced at P/B ratio of
24.82x on the pre issue book value of Rs. 29.81 and on
the post issue book value of Rs. 63.70 , the P/B comes
out to 11.62x.
Book Running Lead Manager
• ICICI Securities Limited
• Nomura Financial Advisory and Securities (India)
Private Limited
Name of the registrar
Karvy Fintech Private Limited
*Calculated on the upper price band
Shareholding Pattern (%)
Particulars Pre-issue Post -issue
Promoters & promoters group 92.17% 68.38%
QIB 0.00% 18.12%
NIB 7.83% 11.08%
Retail 0.00% 2.42%
Total 100.00% 100.00%
SMC Ranking
(2/5)
15
FIXED DEPOSIT MONITOR
FIXED DEPOSIT COMPANIES
96-120M=7.75%; 0.25% FOR FEMALE, SENIORCITIZEN & TRUST
0.35% EXTRA FOR SR. CITIZEN OR 0.25% EXTRA FOR EXISTING CUSTOMER (15 DAYS GAP IN FIRST & SECOND DEPOSIT) & 0.10% EXTRA IN RENEWAL UPTO ` 5 CR.
0.50% ADD. INTEREST TO SR. CITIZEN,EMPLOYEES,SHAREHOLDERS AND PERSON INVESTING ` 5 LACS AND ABOVE - MAX. 0.50%
` 20000/- BUT` 40000/-
IN MONTHLY
1 BAJAJ FINANCE LTD.(UPTO ` 5 CR.) ` 25000/-
3 GRUH FINANCE LTD. ` 1000/-
HDFC LTD- PREMIUM DEPOSIT FOR INDIVIDUAL(UPTO ` 2 CR.)
0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.4
HDFC LTD- REGULAR FOR INDIVIDUAL & TRUST(> ` 2 CR TO ` 10 CR)
0.25% FOR SENIOR CITIZEN UPTO ` 1 CR.7.93 - 7.93 7.93 - 7.93 7.93 -
HDFC LTD- PREMIUM DEPOSIT FOR TRUST &INSTITUTION (UPTO ` 2 CR.)
-
8 15M=7.98 - - 30M=7.98 - -
HDFC LTD- SPECIAL DEPOSIT FOR TRUST(UPTO ` 2 CR.) 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.33M=8.03 - - 66M=8.03 - -9
HDFC LTD- REGULAR DEPOSIT FOR TRUST &INSTITUTION (UPTO ` 2 CR.)
0.25% FOR SENIOR CITIZEN UPTO ` 1 CR.7.88 - 7.88 7.88 - 7.88 7.88 -10
8.00 - 7.90 8.20 - 8.25 8.25 8.30ICICI Home Finance (less than ` 1 Cr.)11 0.25% EXTRA FOR SR. CITIZEN
ICICI Home Finance (less than ` 1 Cr.)12 0.25% EXTRA FOR SR. CITIZEN
8.00 - 8.25 8.35 - - - -J K LAKSHMI CEMENT LTD13
0.50% ADD. INTEREST TO SR. CITIZEN,EMPLOYEES, SHAREHOLDERS AND PERSONINVESTING ` 5 LACS AND ABOVE - MAX. 0.50%
8.00 - 8.25 8.35 - - - -J K TYRE INDUSTRIES LTD.14
8.50 - 8.50 8.50 - 8.25 8.25 -KTDFC (KERALA TRANSPORT) ` 10000/-15 0.25% EXTRA FOR SR. CITIZEN
7.50 - 7.50 7.50 - 7.25 7.25 -KTDFC (Kerala Transport) from 1 Aug'19 ` 10000/-16 0.25% EXTRA FOR SR. CITIZEN
M&M FINANCIAL SERVICES LTD(FOR BELOW ` 1 CRORE)
8.10 8.10 8.50 8.80 - 8.80 8.80 -18 ` 10000/-0.25% FOR SENIOR CITIZEN
10.50 - 11.00 11.50 - - - -OMAXE LTD19 -
8.25 - 8.50 9.00 - 9.00 9.25 -SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME ` 5000/-22 0.25% FOR SENIOR CITIZEN,0.25% EXTRA FOR RENEWALS
8.25 - 8.50 9.00 - 9.00 9.25 -SHRIRAM CITY UNION SCHEME ` 5000/-23 0.25% FOR SENIOR CITIZEN,0.25% EXTRA FOR RENEWALS
2 CENT BANK HOME FINANCE (ONLY RENEWAL)CUM-` 5000/-
NON CUM-` 10000/-
7
0.25% FOR SENIOR CITIZEN
8.15 8.15 8.20 8.25 - - 8.30 -LIC HOUSING FINANCE LTD.(UPTO ` 25 CR.) ` 10000/-17 0.25% FOR SENIOR CITIZEN IF APP ABOVE ` 50,000/- & 0.10% IF APP UPTO ` 50,000/-
HDFC LTD- SPECIAL DEPOSIT FOR INDIVIDUAL(UPTO ` 2 CR.)
0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.33M=7.98 - - 66M=7.98 - -5
HDFC LTD- REGULAR DEPOSIT FOR INDIVIDUAL(UPTO ` 2 CR.)
0.25% FOR SENIOR CITIZEN UPTO ` 1 CR.7.78 - 7.78 7.78 - 7.78 7.78 -6
15M= 20m= 30m= 35m= 40m= 75m= 90m=
8.20% 8.25% 8.35% 8.35% 8.35% 8.40% 8.40%
* 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]
16
` 10000/-
8.30 - 8.30 8.40 - 8.40 8.45 8.30PNB HOUSING FINANCE LTD.(UPTO ` 5 CR.)20 0.25% EXTRA FOR SR. CITIZEN UPTO ` 1 CRORE
15M=8.30 22M=8.35 30M=8.30 44M=8.45 PNB HOUSING FINANCE LTD.(UPTO ` 5 CR.)21 0.25% FOR SENIOR CITIZEN
-
12M 18M 24M 36M 45M 48M 60M 84M
PERIOD
ADDITIONAL RATE OF INTEREST (%)
MIN.
INVESTMENT
(`)NBFC COMPANY - NAME S.NO
8.00 15M= 8.15 8.60 - 8.60 8.60 -
8.05%
7.75 8.00 8.00 8.00 - 8.25 8.25 8.00
7.75 13M= 7.75 8.00 - 8.00 8.00 8.25
7.75
15M=7.83 22M=7.93 30M=7.88 44M=7.93
INDUSTRY & FUND UPDATE
ITI Mutual Fund launches the ITI Long Term Equity Fund
ITI Mutual Fund has launched its third scheme called the ITI Long Term Equity Fund. The new fund offer will be open for subscription from July 15 to
October 14. The benchmark for the scheme will be Nifty 500 Total Return Index. The scheme will be managed by George Heber Joseph and Pradeep
Gokhale. According to a press release by the fund house, the scheme will have a diversified portfolio and will be market cap and sector agnostic in its
investment approach. The scheme aims to generate long-term capital appreciation through a diversified portfolio of equity and equity-related
securities. The fund will generally be minimum 90 per cent invested. The number of stocks envisaged in the fund is between 40 and 70. The minimum
initial investment in the scheme will be Rs 500 and multiples of Rs 500 thereafter. The scheme will invest minimum 80 per cent in equities & equities
related securities and maximum 20 per cent will be invested in short-term debt and money market instruments.
Union AMC launches the Union Focused Fund
Union Asset Management Company has launched a new fund called the Union Focused Fund. The new fund offer will be open for subscription from 15th
July to 29th July. The scheme will be managed by Vinay Paharia, Chief Investment Officer of Union AMC. Union Focused Fund is an open ended equity
fund scheme which would invest in a focused portfolio of maximum 30 stocks and has the flexibility to invest across large cap, mid cap and small cap
categories. The scheme aims to build a concentrated portfolio of companies that are selected on the basis of the investment philosophy of the AMC.
Fund Manager change in Schemes of DSP Mutual Fund
DSP Mutual Fund has decided to change the Fund Manager of DSP Equal Nifty 50 Fund, DSP Nifty 50 Index Fund, DSP Nifty Next 50 Index Fund and DSP
Liquid ETF from Gauri Sekaria to Anil Ghelani with effect from July 24, 2019.
Name Change in a Scheme of Union Mutual Fund
Union Mutual Fund has proposed to change the name of the Union Tax Saver to Union Long Term Equity Fund with effect from July 29, 2019.
MUTUAL FUND
17
NEW FUND OFFER
Scheme Name ITI Long Term Equity Fund - Regular Plan (G)
Fund Type Open Ended
Fund Class Growth
Opens on 15-Jul-2019
Closes on 14-Oct-2019
Investment Objective The Scheme seeks to provide long-term capital appreciation by investing predominantly in equity and equity related securities.
Min. Investment Rs. 5,000/-
Fund Manager Pradeep Gokhale / George Heber Joseph
Scheme Name Union Focused Fund - Regular Plan (G)Fund Type Open-EndedFund Class GrowthOpens on 15-Jul-2019Closes on 29-Jul-2019Investment Objective The scheme seek to seek to generate capital appreciation by investing in a portfolio of select equity and equity linked securities
across market caps. Min. Investment Rs.5000/-Fund Manager Vinay Paharia
Scheme Name BNP Paribas Global Innovative Technology Fund - Regular Plan (G)Fund Type Open-EndedFund Class GrowthOpens on 16-Aug-2019Closes on 30-Aug-2019Investment Objective The scheme seek capital appreciation by investing predominantly in units of Parvest Disruptive Technology Fund.Min. Investment Rs.5000/-Fund Manager Karthikraj Lakshmanan / Abhijeet Dey
Note: Indicative corpus are including Growth & Dividend option . The above mentioned data is on the basis of 25/07/2019Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%
MUTUAL FUND Performance Charts
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
Tata India Tax Savings Fund-Reg-Growth 17.69 14-Oct-2014 1816.16 -1.60 5.89 2.99 9.69 12.71 2.08 0.97 -0.04 75.58 12.30 6.38 5.73
Kotak Taxsaver - Reg - Growth 43.13 23-Nov-2005 907.13 -2.06 5.43 2.90 9.37 11.28 1.93 0.94 -0.06 59.61 27.29 10.79 2.31
HDFC Long Term Advantage Fund - G 353.39 02-Jan-2001 1454.02 -1.79 4.76 2.64 11.08 21.16 1.94 0.94 -0.03 73.46 5.36 14.49 6.69
DSP Tax Saver Fund - Growth 46.89 18-Jan-2007 5498.71 -2.28 6.56 1.98 8.94 13.13 2.11 1.01 -0.05 73.76 12.58 10.53 3.12
BNP Paribas Long Term Equity Fund - G 37.84 05-Jan-2006 465.26 0.36 7.23 1.78 6.54 10.31 1.84 0.88 -0.08 68.80 19.04 6.29 5.86
ICICI Pru Long Term Equity F (Tax Saving)-R-G 369.36 19-Aug-1999 6299.61 -2.57 5.68 1.66 8.12 19.84 1.96 0.90 -0.02 69.72 13.38 8.24 8.66
SBI Magnum Tax Gain Scheme 93 - Growth 137.36 31-Mar-1993 7020.57 -4.55 1.04 0.28 5.28 15.32 2.11 0.99 -0.12 69.84 16.00 10.88 3.27
TAX Fund
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
HDFC Top 100 Fund - Growth 485.84 11-Oct-1996 16948.80 -2.07 5.56 8.22 10.61 19.60 2.16 1.05 0.00 85.62 11.83 N.A 2.55
HDFC Equity Fund - Growth 654.23 01-Jan-1995 22620.30 -2.01 5.13 7.34 10.48 18.54 2.36 1.09 -0.01 79.76 13.26 5.38 1.60
ICICI Pru Multi-Asset Fund - Growth 266.35 31-Oct-2002 11249.70 -0.02 6.05 6.95 10.22 21.66 1.40 0.61 -0.03 55.39 4.42 5.78 34.41
Tata Large & Mid Cap Fund-Reg-Growth 201.75 25-Feb-1993 1386.54 0.33 7.32 6.14 7.80 12.04 1.98 0.94 -0.05 58.63 36.11 0.92 4.35
SBI Focused Equity Fund - Growth 139.32 17-Sep-2004 4416.74 -1.59 8.24 4.38 10.85 19.39 1.80 0.74 0.05 49.13 17.34 17.63 15.89
Axis Small Cap Fund - Reg - Growth 28.06 29-Nov-2013 369.63 1.04 7.35 4.35 9.57 20.02 1.77 0.68 -0.04 N.A 17.98 65.29 16.72
Reliance Multi Cap Fund - Growth 93.48 28-Mar-2005 10373.00 -4.83 1.24 4.19 7.95 16.87 2.33 1.03 -0.02 51.18 27.09 20.70 1.03
EQUITY (Diversified)
Annualised
Returns (%) RiskAverage Yield till
Scheme Name NAV Launch QAAUM Since Std. Sharpe
1W 2W 1M 6M 1Y 3YMaturity (Years) Maturity
(`) Date (`Cr.) Launch Dev.
Reliance Nivesh Lakshya Fund - Reg - G 12.26 06-Jul-2018 482.63 -76.98 -30.56 33.58 26.47 22.55 N.A 21.37 36.88 0.40 25.78 7.07
ICICI Pru Long Term Bond Fund - Growth 63.48 09-Jul-1998 715.66 -47.94 -13.76 29.69 20.67 16.01 9.14 9.17 28.14 0.04 11.86 7.58
Reliance Income Fund - G P - Growth 62.86 01-Jan-1998 280.64 -37.00 -5.57 22.35 17.99 14.24 7.78 8.89 22.51 0.00 6.96 6.94
IDFC D B F - Reg - Growth (Re-Launched) 23.56 03-Dec-2008 1941.51 -39.42 -9.92 24.82 16.48 13.64 8.21 8.38 20.80 -0.01 8.16 7.65
IDFC Bond Fund - Income Plan-Reg-Growth 47.05 14-Jul-2000 657.48 -42.79 -11.07 24.91 16.48 13.62 7.97 8.47 21.37 -0.02 8.33 7.64
SBI Dynamic Bond Fund - Growth 24.37 09-Feb-2004 1019.10 -34.73 -5.24 28.65 19.39 13.62 8.55 5.93 18.86 -0.01 8.19 7.52
L&T Triple Ace Bond Fund - Reg - Growth 49.20 31-Mar-1997 1065.74 -42.73 -9.78 25.95 17.92 13.23 7.09 7.40 19.00 0.06 8.97 7.99
INCOME FUND
Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe
1W 2W 1M 6M 1Y 3YMaturity (Years) Maturity
(`) Date (`Cr.) Launch Dev.
Kotak Dynamic Bond Fund - Reg - Growth 25.39 27-May-2008 623.05 -23.81 -9.23 17.98 14.82 12.98 8.85 8.70 14.16 0.08 7.94 6.42
IDFC Banking & PSU Debt Fund - Reg - G 16.56 07-Mar-2013 5592.68 -11.50 2.92 14.90 12.08 11.07 7.50 8.22 12.59 0.06 7.81 3.62
IDFC Bond Fund - Medium Term Plan-R-G 32.35 08-Jul-2003 2331.62 -16.76 0.56 15.49 11.72 10.20 7.35 7.59 10.13 -0.03 7.65 3.96
Aditya Birla Sun Life Banking & PSU Debt F-R-G 246.99 02-May-2008 6442.01 -16.75 1.93 16.13 11.65 10.21 7.90 8.38 9.73 0.02 7.86 4.02
DSP Corporate Bond Fund - Reg - Growth 11.06 10-Sep-2018 433.28 -4.90 6.21 13.58 11.45 N.A N.A 12.21 11.33 0.45 7.81 2.74
ICICI Pru Banking & PSU Debt Fund-Reg-G 21.99 01-Jan-2010 5503.84 -18.06 0.45 14.94 11.39 9.19 7.71 8.58 10.10 -0.06 7.93 3.59
Aditya Birla Sun Life Corp Bond Fund-R-G 74.01 03-Mar-1997 15446.70 -5.57 5.75 12.76 10.72 10.04 7.98 9.34 7.50 0.04 8.10 2.35
SHORT Due to their inherent short term nature, Short term funds have been sorted on the basis of 6month returns
Annualised
Returns (%) Risk Market Cap (%)
Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
ICICI Pru Equity & Debt Fund - Growth 133.09 03-Nov-1999 25874.40 -0.78 6.16 6.55 9.68 14.01 1.48 -0.04 59.93 5.84 4.31 29.93
SBI Equity Hybrid Fund - Growth 134.73 09-Oct-1995 29541.80 0.64 6.61 5.76 9.33 15.49 1.39 0.00 53.68 9.55 7.48 29.28
Aditya Birla Sun Life Balanced Advantage F-G 52.44 25-Apr-2000 2806.19 -0.46 3.66 3.76 7.13 8.98 0.89 -0.07 52.50 10.58 4.76 32.16
HDFC Hybrid Equity Fund - Growth 53.03 06-Apr-2005 22357.00 -1.06 4.28 3.24 6.18 12.36 1.88 -0.12 49.85 11.88 8.70 29.58
Tata Hybrid Equity Fund - Reg - Growth 209.79 08-Oct-1995 4649.59 -0.91 4.46 1.66 5.05 15.12 1.51 -0.09 60.71 8.52 6.19 24.58
Sundaram Equity Hybrid Fund - Reg - G 89.27 23-Jun-2000 1621.68 -0.12 4.31 1.57 8.80 12.06 1.33 -0.03 49.42 20.54 1.82 28.22
Kotak Equity Hybrid - Growth 24.50 05-Nov-2014 1562.14 -0.33 6.59 1.43 6.49 7.13 1.54 -0.09 52.74 16.59 10.62 20.05
BALANCED
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*Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
SMC organised Associate Meet in association with Bajaj Finserv held on Friday, 19th July, 2019at Hotel Costa Riviera, Varanasi, Uttar Pradesh.
Mr. S C Aggarwal (CMD, SMC Group) felicitating the students of the Army Public School (Sector 37, Noida)during an awareness program on Water Conservation “Keep the Yamuna River Clean” held on 20th July, 2019at Delhi NCR. He is joined by Shri Gopal Krishna Agarwal (BJP National Spokesperson on Economic Affairs).
Mr. D K Aggarwal (CMD, SMC Investments & Senior VP – PHD Chamber of Commerce)during MOU Signing between MeitY Startup Hub (MSH) and PHD Chamber of Commerce at New Delhi.
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