SMC Global Weekly News Letter (Wisemoney)
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SMC Global Weekly News Letter (Wisemoney)

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It is a weekly newsletter, which is an epigrammatic on investment opportunities escorted by sound technical and fundamental analysis of existing and forthcoming stocks that keep investors updated ...

It is a weekly newsletter, which is an epigrammatic on investment opportunities escorted by sound technical and fundamental analysis of existing and forthcoming stocks that keep investors updated about the market developments. It includes all the segments say Equity, Commodity, Mutual Fund, Currency and Fixed Deposits. It is a complete handy guide, which helps all the investors to multiply their wealth.

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SMC Global Weekly News Letter (Wisemoney) SMC Global Weekly News Letter (Wisemoney) Document Transcript

  • 2013: Issue 401, Week: 16th - 19th December A Weekly Update from SMC (For private circulation only) Brand smc 224 WISE M NEY ®
  • From The Desk Of Editor Contents Equity 4-7 Derivatives 8-9 Commodity 10-13 Currency 14 IPO 15 Fixed Deposit 16 Mutual Fund 17-18 G lobal stock markets came off the highs amid rising concerns of reduction in bond purchases by U.S. Fed in view of the better economic data out of U.S. and also the U.S. fiscal stalemate seems to be getting resolved. U.S. House passed the budget deal allowing ease in spending cuts to the tune of $63 billion over two years to avert another government shutdown and will go for senate approval next week. Progress on the budget deal may give confidence to the Federal Reserve as regards to start the unwinding the monthly bond purchases. On the European front, the European markets traded lower on Tuesday faced with an uncertain policy and economic outlook, locking in profits into the year-end. In China, industrial output for the month of November rose at a EDITORIAL STAFF Editor Saurabh Jain pace of 10%, marginally less than the estimates of 10.1% while retail sales saw Executive Editor Jagannadham Thunuguntla unexpected rise. +Editorial Team Dr. R.P. Singh Vandana Bharti Sandeep Joon Vineet Sood Dhirender Singh Bisht Parminder Chauhan Mudit Goyal Nitin Murarka Tejas Seth Dinesh Joshi Shitij Gandhi Subhranil Dey Ajay Lakra Back at home, markets saw sharp up move followed by some correction after Bhartiya Janta Party won state elections indicating to possible end of the ten years of congress rule at the centre. Now, the next big trigger for the stock market would be the general election in 2014. Consumer inflation measured by consumer price inflation index inched up to 11.24% in the month of October giving rise to the possibilities of further policy Content Editor Graphic Designer Research Executive Kamla Devi Pramod Chhimwal Sonia Bamba tightening by the RBI in the ensuing mid-quarter review policy on 18th December. With economic growth still sagging and industrial growth showing negative growth of 1.2% for the month of October, it is assumed that the new governor Dr. Raghuram Rajan would 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: Salzburg Square, Flat No.1, III rd Floor, Door No.107, Harrington Road, Chetpet, Chennai - 600031. Tel: 044-39109100, Fax -044- 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 : pankaj@smccomex.com smcdmcc@gmail.com stick to its major mandate of anchoring inflationary expectations. Apart from the important RBI policy, market participants would eye on the U.S. Fed meeting on 17th 18th December next week to assess how and when would like to start reducing bond purchases in view of the positive development in the U.S. economy. On the commodities front, fall in dollar index together with some rebound in economic activities in US and China encouraged buying in commodities last week. The move was limited in commodities as market players refrained to take any large positions before the Federal Open Market Committee meet on Dec. 17-18. Increased physical demand for gold from China limited the downside of gold in the international market. This week, bullion counter is expected to remain on subdued path. In energy counter, especially natural gas prices reignited on colder weather. It may move in range as rally is overstretched and profit booking at higher levels can't be denied. Decision about Fed tapering may also have an effect on crude prices. Base metals complex may trade in range with upside bias on firm demand from China and decline stockpiles in LME. Apart from FOMC meet, there are certain data and events, which may keep traders on toes. Some of them are Consumer Price Index of UK, Euro zone, US and Canada, German ZEW Survey, Federal Open Market Committee Rate Decision, Fed Pace of Treasury Purchases, Gross Domestic Product of Printed and Published on behalf of Mr. Saurabh Jain @ Publication Address New Zealand. 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005 Website: www.smcindiaonline.com Investor Grievance : smc@smcindiaonline.com Printed at: S&S MARKETING 102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India) Ph.: +91-11- 43035012, 43035014, Email: ss@sandsmarketing.in (Saurabh Jain)
  • NEWS TREND SHEET DOMESTIC NEWS Economy • India's trade deficit narrowed to $9.2 billion in November, driven by a record contraction in imports even as exports growth slowed after growing in double digits for four consecutive months. To note, exports rose 5.86% to $24.61 billion in November, while imports fell 16.37% to $33.83 billion. • India's Consumer Price Inflation (CPI) for the month of November 2013 stood at 11.24%. In comparison the number was at 10.17% in October 2013. Within CPI, the food inflation was at 14.72%. And within food inflation, vegetable prices rose by 61.6% and fruit prices rose by 15%, in comparison to November 2012. • India's Industrial production decreased 1.8 percent on an annual basis in October, reversing the previous month's 2 percent increase. The contraction was due to weak performance of the manufacturing and mining sectors. Engineering • Mcnally Bharat Engineering has received an order for comprehensive operation and maintenance of coal handling plant for a thermal power plant worth `209.84 crores for a period of 5 years. Cement • Ultra Tech Cement, an Aditya Birla group company, has announced plans to set up two cement plants entailing investments of over Rs 5000 crore. Packaging • Uflex aims to double its revenues to $2 billion in the next four years and would set up a new plant in the western region. • Lupin has received US health regulator's approval to market generic version of ViiV Healthcare's Trizivir tablets, used in the treatment of HIV-1 infection, in the American market. Metal • Tata Steel Ltd plans to introduce a cost-effective, new, value-added product that will cater mainly to the construction industry. The new Ground Granulated BF Slag (GGBS) product is aimed at increasing the compressive strength and durability of the concrete and also lowering the carbon footprint. Information Technology • Tech Mahindra launched Global Center of Excellence (CoE) with Hewlett Packard (HP) in Bangalore to focus on IT applications and infrastructure solutions through automation of key services. Construction • & C Constructions has been awarded a project by Engineering Projects C (India) for the constructions of flyover and rail under bridge (RUB) for a contract worth `133.56 crores in the State of Uttarakhand. Capital Goods • REpower Systems SE, a subsidiary of Suzlon Group has signed contracts to deliver 103 wind turbines with a total capacity of over 266 megawatts (MW) for 24 community wind farm projects in the Schleswig-Holstein region of Germany. INTERNATIONAL NEWS • wholesale inventories jumped by 1.4 percent in October following an US upwardly revised 0.5 percent increase in September. Economists had been expecting inventories to increase by about 0.4 percent, matching the growth originally reported for the previous month. • consumer credit rose by $18.2 billion in October following a $16.3 US billion increase in September. Economists had expected credit to increase by about $15.0 billion. • retail sales rose by 0.7 percent in November following an upwardly US revised increase of 0.6 percent in October. Economists had expected sales to increase by about 0.6 percent compared to the 0.4 percent growth originally reported for the previous month. • business inventories rose by 0.7 percent in October following a 0.6 US percent increase in September. Economists had been expecting inventories to increase by a more modest 0.3 percent. • initial jobless claims jumped to 368,000, an increase of 68,000 from US the previous week's revised figure of 300,000. Economists had been expecting claims to climb to 325,000 from the 298,000 originally reported for the previous week. • Eurozone Industrial production fell a seasonally adjusted 1.1 percent month-on-month in October, after dropping an upwardly revised 0.2 percent in the previous month, statistical office Eurostat said. Economists had forecast production to grow 0.3 percent, following September's originally reported 0.5 percent contraction. Stocks Closing Trend Date Rate Trend Price Trend S1 R1 S2 R2 Cl. S/l Changed Changed 20926 UP 12.09.13 19317 20200 S&P NIFTY SENSEX 6237 UP 12.09.13 5728 5850 5750 5780 CNX IT 8965 UP 18.07.13 7306 8500 8200 8000 UP 19.09.13 11149 11000 CNX BANK ACC 11636 1120 DOWN 13.11.13 1041 19800 19400 10600 1080 10500 1100 1120 BHARTIAIRTEL 324 UP 12.09.13 329 340 330 320 BHEL 161 UP 05.09.13 138 155 150 145 CIPLA 381 DOWN 21.11.13 387 405 410 415 DLF 156 DOWN 26.09.13 136 150 160 165 HINDALCO 121 UP 29.08.13 107 110 105 100 ICICI BANK 1133 UP 12.09.13 951 1060 1020 1000 INFOSYS 3364 UP 18.07.13 2800 3200 3070 3020 ITC 317 L&T 1065 DOWN 13.11.13 UP 19.09.13 888 314 1020 330 980 336 950 340 MARUTI 1715 UP 19.09.13 1480 1600 1570 1530 NTPC 140 UP 26.09.13 150 145 140 135 ONGC 283 UP 31.10.13 294 280 270 265 RELIANCE 870 UP 12.09.13 875 850 840 830 TATASTEEL 413 UP 22.08.13 274 380 360 350 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. FORTHCOMING EVENTS EX-DATE SYMBOL 18-DEC-13 HCLTECH 18-DEC-13 ALOKTEXT 19-DEC-13 EDL 19-DEC-13 STAR BOARD MEETING 16-DEC-13 PNB 16-DEC-13 IOB 16-DEC-13 CORPBANK 19-DEC-13 ANDHRABANK 19-DEC-13 23-DEC-13 24-DEC-13 24-DEC-13 DEEPIND FLEXITUFF DENABANK ALBK 26-DEC-13 30-DEC-13 07-JAN-14 09-JAN-14 15-JAN-14 20-JAN-14 IDEA CANBK MANAKSIA SHAKTIPUMP BANKBARODA MIRCELECTR 31-JAN-14 03-FEB-14 KANSAINER DOLPHINOFF PURPOSE FINAL DIVIDEND - `6.00 DIVIDEND - RE 0.30/- PER SHARE DIVIDEND - RE 1/- PER SHARE SPECIAL DIVIDEND - `500/- PER SHARE SYMBOLPURPOSE PREFERENTIAL ISSUE PREFERENTIAL ISSUE PREFERENTIAL ISSUE,PRIVATE PLACEMENT BASIS,QUALIFIED INSTITUTIONS PLACEMENTS PREFERENTIAL ISSUE,RAISING OF CAPITAL,QUALIFIED INSTITUTIONS PLACEMENTS PREFERENTIAL ISSUE RAISING FUNDS THROUGH DEBT INSTR. PREFERENTIAL ISSUE PREFERENTIAL ISSUE,QUALIFIED INSTITUTIONS PLACEMENTS FII INVESTMENT RAISING OF CAPITAL SCHEME OF ARRANGEMENT CHANGE IN DIRECTORS,PREFERENTIAL ISSUE PREFERENTIAL ISSUE RIGHT ISSUE,RAISING FUNDS THROUGH DEBT INSTR. RESULTS RESULTS ® 4
  • INDIAN INDICES (% Change) SECTORAL INDICES (% Change) 0.00 2.00 1.61 1.50 -0.09 -0.20 0.97 1.00 -0.40 -0.34 -0.37 -0.42 -0.60 0.50 -0.58 0.22 0.00 -0.80 -0.50 -1.00 -1.00 -0.37 -0.58 -1.05 -1.20 Nifty Sensex BSE Midcap BSE Smallcap -0.72 -0.85 -1.50 Nifty Junior S&P CNX 500 -2.00 -1.98 -2.50 SMC Trend Nifty Sensex BSE Midcap Nifty Junior BSE Smallcap -2.30 -2.34 -2.43 -3.00 S&P CNX 500 Auto Index Bankex Cap Goods Index Cons Durable FMCG Index Index Healthcare Index IT Index Metal Index Oil & Gas Index Power Index Realty Index GLOBAL INDICES (% Change) SMC Trend Auto Cap Goods Bank Cons Durable Realty 0.50 0.27 FMCG Healthcare IT Metal Oil & Gas Power 0.00 INSTITUTIONAL ACTIVITY (Equity) (` Crore) -0.50 4000.00 3500.00 -1.00 3375.20 3000.00 -1.50 -1.63 -1.64 -1.75 2500.00 -1.46 -1.53 -1.58 2000.00 -1.77 -2.00 1500.00 982.50 -2.21 1000.00 -2.50 Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp. FTSE 100 430.80 500.00 CAC 40 0.00 SMC Trend Nasdaq Dow jones S&P 500 -500.00 Nikkei Strait times Hang Seng Shanghai Down Thursday NSE NIFTY TOP GAINERS & LOSERS (% Change) 8.00 6.75 6.00 6.00 3.51 4.81 3.41 4.00 2.00 Wednesday MF Activity Sideways 6.66 1.89 Tuesday FII Activity BSE SENSEX TOP GAINERS & LOSERS (% Change) 4.00 -276.50 Monday The FII data presented for December 10, 2013 is compiled on the basis of reports submitted to SEBI by all custodians on December 10, 2013 and constitutes trades conducted by FIIs on December 6, 2013 and December 9, 2013. Up 8.00 -201.30 Friday FTSE 100 CAC 40 0.00 0.00 0.00 2.38 1.64 1.62 2.00 1.85 0.00 0.00 -2.00 -2.00 -4.00 -4.00 -4.48 -6.00 -6.17 -8.00 -7.77 -4.79 -6.00 -6.24 -5.81 -8.00 -7.79 -7.44 Sesa Sterlite Wipro HDFC Bank ITC HDFC Tata Motors Jindal Steel NTPC BHEL -7.46 -10.00 -10.00 Sesa Sterlite -5.92 NTPC BHEL St Bk of India HCL Technologies Wipro Lupin ITC Tata Motors Jindal Steel IDFC ® 5
  • Beat the street - Fundamental Analysis ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED VALUE PARAMETERS 2.00 175.00/118.00 31889.12 8.85 17.41 4.31 0.63 BSE % OF SHARE HOLDING Foreign 3.16 4.5 16.13 1.21 Institutions Non Promoter Corporate Holding 75 Promoters Public & Others ` in cr Estimate FY Mar-14 FY Mar-15 4595.10 5269.90 3170.00 3644.00 2535.20 3004.20 2075.80 2494.40 1859.60 2182.70 8.68 10.45 43.14 52.70 23.90 22.70 CADILA HEALTHCARE LIMITED VALUE PARAMETERS Face Value (`) 52 Week High/Low M.Cap (` Cr.) EPS (`) P/E Ratio (times) P/B Ratio (times) Dividend Yield (%) Stock Exchange Foreign 6.01 8.97 4.63 Institutions Non Promoter Corporate Holding 74.79 Promoters Public & Others ` in cr Actual FY Mar-13 Revenue 6155.40 EBITDA 1125.70 EBIT 942.90 Pre-tax Profit 811.20 Net Profit 655.30 EPS 31.92 BVPS 197.98 ROE 23.30 ® Upside: 44% • Ratings agency ICRA upgraded its long term debt • Adani Ports and Special Economic Zone is engaged rating on the company's unit, Adani Petronet (Dahej) Port. The positive outlook factors in ICRA's expectation that the company's cargo volumes would continue to show healthy growth in the near term notwithstanding weak macroeconomic environment, because of its competitive position. • The company registered 24% growth in consolidated net profit to `343.03 crore for the quarter ended September 2013. On strong growth in throughput the sales grew by 47% to `1045.87 crore. Valuation In the last few years, the company has reported steady growth in its revenue and profits. Going forward the company is likely to maintain the growth momentum on the back of huge capex undertaken by the company. We expect the stock to see a price target of `222 in one year time frame on one year average P/E of 21.24x and FY15 (E) earnings of `10.45. in business of developing, operating and maintaining the port and port related infrastructure facilities including multi-product special economic zone. The company plans to handle 200 million tonnes of cargo by 2020. • With various capital expenditure programmes in the past, the company has emerged as only port on western cost of India, handled capsize/super capsize vessels for bulk and containervessel with more than 8500TEU capacity. The company is also in the process of developing facilities at the Murmugao Port, the Vizag Port and the Kandla Port(Tuna). • company handled 48.21 MMT cargo with 27% The growth in H1FY14 and in case of containers it handled 1.04 million TEUs with 22% growth during the same period. During the quarter ended September 2013 the Company handled 24.62 MMT cargo with 21% growth and in case of containers it handled 0.56 million TEUs with 33% growth. • The company has signed a Memorandum of Understanding (MoU) with the Belgian Port of Zeebrugge, to act as a strategic entry port for the lucrative European market. It will now collaborate with the Belgian port to explore joint business opportunities between the two ports along with other forms of trade, shipping, railway infrastructure across India and Europe. The MoU over a period of time will help in an enhanced movement of traffic to and from APSEZ into Europe and beyond. CMP: 740.95 Estimate FY Mar-14 FY Mar-15 7037.80 8210.50 1121.50 1396.00 959.00 1198.60 879.80 1100.90 726.50 896.30 34.96 43.05 172.91 205.71 22.10 22.80 P/E Chart Target Price: 990 Investment Rationale 5.00 924.60/631.00 15170.21 36.33 20.40 5.15 1.01 BSE % OF SHARE HOLDING 5.6 Target Price: 222 Investment Rationale Face Value (`) 52 Week High/Low M.Cap (` Cr.) EPS (`) P/E Ratio (times) P/B Ratio (times) Dividend Yield (%) Stock Exchange Actual FY Mar-13 Revenue 3486.40 EBITDA 2376.00 EBIT 1954.00 Pre-tax Profit 1676.60 Net Profit 1537.90 EPS 7.67 BookV perShare alue 31.93 ROE 27.40 CMP: 154.05 • Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies. The company aims to achieve sales of over $3 billion by 2015 and be a research-based pharmaceutical company by 2020. • Strengthening its regulatory pipeline, the company has filed 12 additional Abbreviated New Drug Applications (ANDAs) (including 2 filings for injectible products) with the US FDA during the quarter ended September 2013. The Company received approval for 2 products in the US markets and 4 new product dossiers were approved for European market. • company expects to improve the pipeline for The the US market going forward and expects to file 30 ANDA's per year going forward. Out of the 100 ANDA's pending with US FDA (Food and Drug Administration) for approval 10% are differentiated products. • The company expects to file 7 trans-dermal products with US FDA in FY'15. It expects approvals for 20 products (possibly launch) in the next 12-15 months for US market. Out of these two are differentiated products. • Zydus Wellness, its consumer products subsidiary, plans initiatives to improve marketing and distribution of its brands — Everyuth and Nutralite — in addition to launching new variants. The company aims at sustaining double digit growth over the next few quarters. • Cadila Healthcare and its US subsidiary Zydus Pharmaceuticals (USA) Inc have entered into an agreement in principle with Warner Chilcott Company LLC to settle all outstanding patent Upside: 34% litigation related to Asacol HD (mesalamine) delayed-release tablets. The agreement remains subject to preparation and execution of definitive documentation. • profit of Cadila Healthcare rose 93.8% to Net `191.57 crore in the quarter ended September 2013 as against `103.47 crore during the previous quarter ended September 2012. Sales rose 12.3% to `1698.25 crore in the quarter ended September 2013 as against `1512.50 crore during the previous quarter ended September 2012. Valuation Over the past few years, the company has reported steady performance and is likely to continue the momentum going forward on the back of new product launches, recovery in US market and steady performance in the domestic formulation business. We expect the stock to see a price target of `990 in one year time frame, based on estimated FY15E EPS of 43.05 on a target P/Ex of 23. P/BV Chart Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline 6
  • EQUITY ANANT RAJ LIMITED The stock closed at `48.25 on 13th December 2013. It made a 52-week low at `40.50 on 01st October 2013 and a 52-week high at `100.65 on 19th December 2012. The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart is currently at `79.83. In the last few months, there was a continuous fall in this scrip but it bounced back sharply around 41 levels with the increase in volumes. The level of 41 acted as major support for this scrip on the weekly basis and it managed to trade on the upside ignoring the negative sentiment in the boarder index. One can Buy in the range of `44-45 levels with closing below stop loss of `41 levels for the target of `55-57 levels. THE INDIAN HOTELS COMPANY LIMITED The stock closed at `53.50 on 13th December 2013. It made a 52-week low at `37.50 on 06th August 2013 and a 52-week high at `68.20 on 07th January 2013. The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart is currently at `65.46. It came down sharply and made fresh buying pivot by making a reversal candle stick pattern around `37 levels. After that, it continued its upward movement in the last few weeks despite weakness in the other counters, which indicates its strength. One can buy in the range of `50-51 levels with closing below stop loss of `47 levels for the target of `60-62 levels. MCLEOD RUSSEL INDIA LIMITED The stock closed at `299.75 on 13th December 2013. It made a 52-week low at `237.70 on 22nd August 2013 and a 52-week high of `386.45 on 22nd February 2013 . The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart is currently at `258.43. It took support above its 200EMA and continued its upward journey, which shows that buying interest is still there so it is anticipated that it may reach our desired targets in the near term. One can Buy in the range of `293-295 levels with closing below stop loss of `282 levels for the target of `310-315 levels. Charts by Spider Software India Ltd ® Above calls are recommended with a time horizon of 1-2 months 7
  • DERIVATIVES WEEKLY VIEW OF THE MARKET The domestic markets were under pressure around its resistances of 6400. The Nifty tested critical support at 6150 levels on Friday, and closed above the same. The Friday's trade witnessed selling pressure with the Index ending the week on a negative note. Options concentration has shifted to 6000-strike put option with an open interest of above 50 lakh shares. Last week, we have seen long unwinding in calls and fresh call writing in higher strike calls (6300, 6400, 6500) indicating selling pressure at higher levels. Among call options option concentration is highest at 6300-strike call with above 70 lakh shares in open interest. As per Nifty option concentration put writers are active at 6000 strike put and call writers are active at 6300 and 6400 strike call. Hence going forward 6300 will act as strong resistance. This option concentration suggests the range of 6000 to 6300. December put-call ratio of open interest increased and closed at 1.11 levels. Implied volatility (IV) of call options closed at 16.43% while the average IV of put options ended at 16.22%. Nifty is currently trading near the support, which is around 6130-6140 spot level. However, in our view, in the current scenario, the Index is expected to see stiff resistance around 6300 levels, while sustenance below the 6150 levels should take the Nifty down towards 6000 levels. DERIVATIVE STRATEGIES BULLISH STRATEGY BEARISH STRATEGY AXISBANK Buy DEC 1250. CALL 35.00 Sell DEC 1300. CALL 16.00 BAJAJ-AUTO Buy DEC 1900. PUT 25.00 Sell DEC 1850. PUT 12.00 Lot size: 250 BEP: 1269.00 Max. Profit: 7750.00 (31.00*250) Max. Loss: 4750.00 ( 19.00*250) OPTION STRATEGY AUROPHARMA Buy DEC 320. CALL 6.00 Sell DEC 330. CALL 3.30 Lot size: 2000 BEP: 322.70 Max. Profit: 14600.00 (7.30*2000) Max. Loss: 5400.00 ( 2.70*2000) Lot size: 125 BEP: 1887.00 Max. Profit: 4625.00 (37.00*125) Max. Loss: 1625.00 ( 13.00*125) ITC (DEC FUTURE) FUTURE STRATEGY M&M (DEC FUTURE) DLF (DEC FUTURE) Buy: Above `321 Buy: Above `965 Sell: Below `149 Target: `329 Target: `983 Target: `143 Stop loss: `317 Stop loss: `956 Stop loss: `152 BASIS GAP IN NIFTY NIFTY TOTAL OPEN INTEREST (in share) 60 6000000 5432800 5224250 5043850 5000000 50 4659400 4157900 4205150 4000000 3522500 40 3457000 3023950 3168550 3046150 3000000 2197900 2000000 2500800 1653000 1458600 1320650 1003200 30 20 923900 1000000 400400 348350 298850 10 148150 0 5500 5800 5900 6000 6100 6200 Call 6300 6400 6500 6600 6700 Put 0 28-Nov 29-Nov 02-Dec 03-Dec 04-Dec 05-Dec 06-Dec 09-Dec 10-Dec 11-Dec FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS FIIs ACTIVITY IN INDEX FUTURE (F&O) IN LAST WEEK (Derivative segment) `(Cr) 12-Dec (Derivative segment) 5000.00 2921.53 3000.00 2000.00 SELL 19.5% 3736.95 4000.00 1884.51 1670.24 1272.35 1000.00 0.00 -1000.00 -570.05 -896.72 -722.33 11-Dec 12-Dec -1106.15 -2000.00 -1987.46 -3000.00 29-Nov 02-Dec 03-Dec 04-Dec 05-Dec 06-Dec 09-Dec 10-Dec BUY 80.5% ® 8
  • DERIVATIVES NIFTY ANALYSIS NIFTY & IV CHART 6400 23 22 6300 Put Call Ratio Analysis : The Put-Call open interest ratio of Nifty has increased to 1.11 from 0.97. At the end of the week, the maximum stocks had a positive of change in put call open interest ratio. 21 20 6200 Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week has decreased to 16.43% from 22.17%. The IV of the stock futures has changed this week ranging from -7.25% to 15.04%. 19 18 6100 17 Open Interest Analysis : The open interest for the index at the end of this week has increased by 13.97% as compared to the previous week. All future stocks saw changes in their open interest ranging from -1.27% to 39.37%. NTPC has the maximum increase in open interest as compared to other stocks. 16 6000 15 06-Dec 09-Dec Nifty Close 10-Dec 11-Dec IV Statistical Analysis· Open 6285.25 Low 6257.00 High Close 6480.00 6264.95 IMPORTANT INDICATORS OF NIFTY AND OTHER ACTIVE FUTURE CONTRACTS OPEN INTEREST SCRIPTS BHARTIARTL PREV. WEEK 12336000 CURRENT WEEK 13441000 DLF 26348000 26763000 HINDALCO 22888000 PCR RATIO PREV. WEEK 0.49 CURRENT WEEK 0.36 1.58 0.48 0.52 0.04 52.55 49.92 -2.63 24268000 6.03 0.55 0.51 -0.04 42.57 39.68 -2.89 6203500 7100500 14.46 0.47 0.40 -0.07 23.08 23.29 0.21 10069500 10414250 3.42 0.96 0.83 -0.13 42.11 38.31 -3.80 IDEA 6860000 8554000 24.69 0.48 0.67 0.19 33.70 35.74 2.04 INFY 3174375 3575375 12.63 0.70 0.80 0.10 20.52 26.01 5.49 ITC 31819000 31796000 -0.07 0.46 0.48 0.02 23.45 21.68 -1.77 JPASSOCIAT 49388000 51456000 4.19 0.86 0.81 -0.05 65.67 58.65 -7.02 NTPC 14840000 20682000 39.37 0.52 0.44 -0.08 27.93 42.97 15.04 ONGC 11561000 12678000 9.66 0.54 0.37 -0.17 29.00 25.85 -3.15 RANBAXY 10416000 11090000 6.47 0.52 0.46 -0.06 43.31 41.20 -2.11 RCOM 34316000 35786000 4.28 0.53 0.45 -0.08 48.60 46.88 -1.72 RELIANCE 12670000 12897000 1.79 0.51 0.45 -0.06 24.07 21.56 -2.51 19518700 22244500 13.97 0.97 1.11 0.14 22.17 16.43 -5.74 SAIL 20132000 20580000 2.23 0.61 0.62 0.01 37.52 34.30 -3.22 SBIN 5902250 6180750 4.72 0.96 0.57 -0.39 37.84 32.69 -5.15 15824000 15623000 -1.27 1.35 1.21 -0.14 36.37 32.28 -4.09 125600000 125112000 -0.39 0.35 0.32 -0.03 74.78 67.53 -7.25 HINDUNILVR ICICIBANK NIFTY TATASTEEL UNITECH % CHANGE 8.96 IMPLIED VOLATILITY CHANGE -0.13 PREV. WEEK 33.76 CURRENT WEEK 31.12 CHANGE -2.64 ® 9
  • SPICES BULLIONS Turmeric futures (Apr) is expected to witness a consolidation in the range of 5850-6100 levels. It is being reported that there are stocks of around 35-36 lakh bags in the major producing states, sufficient enough to meet the total consumption of the domestic market for the next two months, i.e around 810 lakh bags. At the spot market the sales are declining, as the arrivals of good quality are decreasing and orders from upcountry being slack from the North Indian pockets due to the ongoing winter season. At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at `4,189-6,109; the root variety at `3,936-5,534 a quintal. Jeera futures (Mar) would possibly breach 12600 levels downside on reports that the sowing is turning normal after weather disturbances in Gujarat and some southern states. The spot prices in Unjha mandi had tested around `12700 per quintal in first week of December- the four-year low levels for the commodity. Cardamom futures (Jan) is likely to make journey towards 685 levels, pressurized by strong selling activities due to higher availability. In the international market, the harvesting of the new crop had just started in Guatemala & the crop size is similar to last year. In the days to come, Chilli futures (Dec) may test 7450 levels on the national bourse. Factors such as buying interest keeping in mind in the good domestic and export demand amidst weak supplies from Madhya Pradesh is likely to push the counter higher. OIL AND OILSEEDS Soybean futures (Jan) is likely to witness some profit booking from higher levels & remain below 3950 levels. It is being reported that high prices and quality issues have led to a poor rate of crushing of soybean at present affecting soy meal quality and availability which in turn has impacted its export. However, the rupee gaining about 2.22% as against dollar in the previous week, may support the counter to keep the downside capped near 3700 levels. On CBOT, the upside in U.S soybean futures may get capped near 1360 levels on the mixed fundamentals. The potential negative factor is that market participants fear that speculators may reduce their net long position as they are getting closer to the holidays. On the other hand, the global soybean production is projected at a record 284.9 million tonnes, up 1.4 million due to increases area in Argentina and Canada. Mustard futures (Jan) may extend the fall towards 3630 levels. As reported by USDA, the global rapeseed production is projected at a record 70.0 million tonnes, up 2.1 million due to gains for Canada and Australia. Back at home, the favorable weather conditions are raising the prospects of a higher output. Indian farmers had cultivated mustard seed on 6.42 million hectares as on Dec. 5, compared with 6.08 million hectares a year earlier. CPO futures (Jan) may fall towards 545 levels due to slack demand at the start of the cold weather that solidifies the oil. On the Bursa Malaysia Derivatives, palm oil may maintain an upside trend, supported by the weather forecast that scattered and isolated thunderstorms are predicted in parts of Sabah, Sarawak, and Johor until Dec. 18, which may disrupt harvesting. OTHER COMMODITIES Wheat futures (Jan) is likely to move upside towards 1695 levels, for a second week in a row on prospects of higher exports. In early November, the government lowered the minimum export price (MEP) for sale of government wheat from $300 per tonne FOB to $260 per tonne FOB. This has paved the way for resumption of government wheat exports against the 2.0 MMT export quota announced in August 2013. As cited by USDA, MY 2013/14 wheat exports are likely to reach 6.0 MMT. Chana futures (Jan) is likely to consolidate in the range of 3060-3160 levels, tracking weak fundamentals of the spot market. With arrivals outstripping demand, spot prices in Delhi market dropped to a two and half year low of `2900 per quintal as the supplies have been roaring high. Reacting negatively to the gathering momentum of sowing, the traders and stockists are releasing their inventories, before the arrival of the new crop in the month of February. Good rainfall coupled with favorable weather during the month of October has brightened the prospects of chana sowing during the Rabi season. Kapas futures (Apr) is expected to consolidate in the range of 920970 levels, with upside getting capped. Since the arrivals have yet to reach their peak, the selling pressure will begin to exert downward pressure on prices. As cited by the U.S Dept. of Agriculture, the world 2013/14 cotton estimates include higher beginning stocks, partially offset by lower production, raising ending stocks by less than 1%. Beginning stocks are raised 1.0 million bales for India, based on prior-year reductions in the India's consumption. Bullion counter is expected to remain on subdued path as investor's eye the fed meeting scheduled this week on Dec 17 and 18. Recently stronger greenback and fear that Federal Reserve will curb stimulus has kept the prices downbeat. Meanwhile local currency rupee can weaken further and can test 63 which can keep the downside capped in yellow metal. Gold may move in the range of 28600-29800 in MCX. White metal silver can hover in the range of 42000-46500. Meanwhile fall in the SPDR holdings has pressurized the prices lower. Holdings in the SPDR Gold Trust, the biggest exchange traded product backed by bullion, declined to 833.6 metric tonnes last week the lowest since January 2009, and contracted 38 percent this year. Physical demand for gold in China has skyrocketed this year after prices plunged in April and June. It is expected that its demand can cross 1,000 metric tonnes this year. An expanding Chinese middle class often buys gold for cultural and economic reasons as china has replaced India as top gold consumer. Chinese consumers have soaked up about 800 tonnes of gold for the year to Nov. 15, according to World Gold Council statistics, beating their biggest rivals, the Indians, by just over 100 tonnes. Domestic supply crunch has helped the premium to keep elevated at $170 to London prices. Meanwhile gold imports may fall 70 percent in the final quarter of 2013 from 255 tonnes in the year ago period. ENERGY COMPLEX Crude oil can trade on volatile path as the last Fed meeting of 2013 in this week will give more direction to the prices in which timing about fed tapering decision can be taken. Fed officials are monitoring progress in the labor market as they debate when to pull back on $85 billion a month in bond purchases, known as quantitative easing. Overall crude oil can move in the range of 5800-6300 in MCX and $96-102 in NYMEX. According to tanker tracker Oil Movements“The Organization of Petroleum Exporting Countries, the supplier of about 40 percent of the world's oil, will increase crude shipments through this month as peak refinery capacity is restored to meet rising heating demand”. Production from all of OPEC's 12 members fell for a fourth month in November to 29.7 million barrels a day, driven by reduced output in Libya. Also, the Seaway Twin pipeline with a capacity of 4, 50,000 bpd is expected to start up in the second quarter of 2014. The pipeline will carry oil from Cushing to the Texas Coast which will further help in easing the supply glut at Cushing after the Keystone pipe line starts up in January. The US Winter demand can keep the upside momentum intact in Natural gas as it can test 280 in MCX. Decline in inventories are also assisting the prices higher. US natural gas inventory declined as expected by 81 billion cubic feet (bcf) which stood at 3.533 trillion cubic feet for the week ending on 6th December 2013. BASE METALS Base metals complex may trade in range with upside bias on firm demand from China and decline stockpiles in LME. Better US economic data is supporting the prices. U.S. retail sales climbed 0.7 percent last month, the most since June, according to Commerce Department data that signaled consumer spending is emerging from a third quarter lull. Red metal copper can trade in the range of 450-475. Presently, the international copper market has moved into backwardation supported by the lower inventories which are around 399875 tonnes and the higher cancelled warrants ratio which is at 67%. Copper might gain further support from the cut in the production forecast by the Mining major Chinalco. Chinalco reduced its forecast of copper production from 250000 tonnes per annum to 120000150000 at its Tromocho mine in Peru. Zinc prices can hover in the range of 119-124 in MCX. Nickel prices can trade in the range of 855-900 in MCX. Nickel continues to get positive cues from the Indonesian Government`s ore export ban which is fuelling concerns regarding the availability of the metal in spite of the increasing stockpiles at the LME warehouses. Battery metal lead can move in the range of 129-136. Automobile sales increased in both US as well as China showing a robust demand for the metal which is mostly consumed by the automobile sector. Aluminum can move in the range of 108-113. Aluminum buyers in Japan are paying higher premium on the back of anticipated increase in demand from China. The agreed premium amount is $225 starting from January. ® 10
  • COMMODITY TREND SHEET EXCHANGE CONTRACT CLOSING PRICE* NCDEX SOYABEAN (JAN) NCDEX JEERA (MAR) DATE TREND TREND CHANGED RATE TREND S1 R1 S2 R2 CHANGED CLOSING STOP/LOSS 3796.50 10.10.13 UP 3681.00 3600.00 - 12817.50 03.10.13 DOWN 12607.00 - 13000.00 3300.00 - 3050.00 13500.00 13700.00 NCDEX RED CHILLI (DEC) 7228.00 10.10.13 UP 6074.00 6600.00 - 6400.00 - 6200.00 NCDEX RM SEEDS (JAN) 3743.00 13.11.13 UP 3816.00 3550.00 - 3450.00 - 3350.00 MCX MENTHA OIL (DEC) 841.80 13.11.13 SIDEWAYS MCX CARDAMOM (JAN) 713.60 28.02.13 DOWN 965.00 - 780.00 830.00 860.00 MCX SILVER (MARCH) 44468.00 26.09.13 DOWN 48639.00 - 48000.00 51000.00 55000.00 MCX GOLD (FEB ) 29223.00 26.09.13 DOWN 29865.00 - 30500.00 31100.00 31800.00 MCX COPPER (FEB) 459.90 12.12.13 UP 459.90 440.00 - - 415.00 MCX LEAD (DEC ) 132.00 24.10.13 SIDEWAYS MCX ZINC (DEC ) 121.85 31.10.13 425.00 SIDEWAYS MCX NICKEL(DEC ) 872.00 12.09.13 DOWN 879.20 - 920.00 - 950.00 980.00 MCX ALUMINUM (DEC ) 109.90 26.09.13 DOWN 111.65 - 114.00 - 118.00 123.00 MCX CRUDE OIL (JAN) 6137.00 26.09.13 DOWN 6415.00 - 6200.00 - 6400.00 6550.00 MCX NATURAL GAS (DEC ) 270.50 28.11.13 UP 247.20 255.00 - 240.00 - 225.00 Closing as on 12.12.2013 NOTES : 1) 2) 3) 4) Buy / Sell 25% of Commodity at S1/R1 respectively & rest 75% at S2/R2 respectively. S1 & S2 indicate first support & second support & R1 & R 2 indicate first resistance & second resistance. 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. 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 GOLD MCX (FEBRUARY) GOLD MCX (FEBRUARY) contract closed at `29223.00 on 12th December '13. The contract made its high of `30679.00 on 28th October '13 and a low of `28080.00 on 11th October '13. The 18-day Exponential Moving Average of the commodity is currently at `29308. On the daily chart, the commodity has Relative Strength Index (14-day) value of 47. One can sell in the range 29350-29500 with the stop loss of `29635 for a target of `28850. COPPER MCX (FEBRUARY) COPPER MCX (FEBRUARY) contract closed at `459.90 on 12th December '13. The contract made its high of `470.90 on 11th November '13 and a low of `441.00 on 19th November '13.The 18-day Exponential Moving Average of the Commodity is currently at `452. On the daily chart, the commodity has Relative Strength Index (14-day) value of 56.One can sell in the range 462-464 with the stop loss of `469 for target of `448. LEAD MCX (DECEMBER) LEAD MCX (DECEMBER) contract closed at `132.00 on 12th December '13. The contract made its high of `133.50 on 22nd November '13 and a low of `126.75 on 9th December '13.The 18-day Exponential Moving Average of the Commodity is currently at `130. On the daily chart, the commodity has Relative Strength Index (14-day) value of 49. One can sell in the range 132.50-133.50 with the stop loss of `135 for a target of `128. ® 11
  • COMMODITY NEWS DIGEST WEEKLY COMMENTARY • World refined copper production is expected to have grown by 3.9% to 20.9 million tonnes in 2013. • The Shanghai Gold Exchange is considering launching an offshore platform in the city's free trade zone that will offer products for overseas investors. • U.S. oil production hit its highest level in 25 years in November, reaching an average of 8 million barrels per day. • industrial production in the 17 countries using the EU single currency dropped 1.1% on the month, its biggest monthly decline since September 2012. • NCDEX as revised the tick size of Guar Seed contracts to `5 from `10 applicable from December 09, 2013 in all the running contracts and yet to be launched contracts in this commodity. As per the directives of the Forward Markets Commission, fresh positions will now be allowed till the date of expiry in all running contracts and yet to be launched contracts of RBD Palmolein in NCDEX. • The National Multi Commodity Exchange (NMCE) has re-launched cardamom futures contract with multiple facilities like Spices Board quality lab certification and storage at WDRA-approved CWC warehouse at Puttady. • India's rice output is likely to decline to 103 million tonnes in 2013-14 on crop damage and exports are also expected to be lower at 10 million tonnes, a latest USDA report says. • China's purchases of domestic cotton for state reserves have exceeded 3.5 million tonnes midway through the 2013/2014 year. Metals and energy counter edged up on some optimistic data from US and Chinese economy whereas agro commodities performed mix in the week gone by. Even fall in dollar index supported upside in the commodities. Dollar index witnessed five week continuous selling. Bullion counter traded up as some safe-haven bids emerged after equities and the dollar dropped on fears over an early end to the Federal Reserve's monetary stimulus. However on Thursday it witnessed correction in the prices. Cooling temperature in Midwest and other regions soared energy prices. Natural gas continued its magical upside and breached the mark of 265 in MCX. Natural gas rose to a seven-month high in NYMEX on speculation that frigid weather will lead to bigger-than-normal declines in stockpiles of the heating fuel. Crude also traded up on signs that strengthening demand is depleting inventories in the U.S., the world's biggest oil consumer. The International Energy Agency raised estimates for global oil demand in 2014 amid an economic recovery in the U.S. Nevertheless, WTI crude fell from a six-week high after gasoline and diesel inventories rose more than forecast last week as refineries boosted output. China's trade surplus widened last month to $33.8 billion, the biggest in more than four years, helped industrial metals to travel north. U.S. retail sales accelerated in November, while jobless claims increased. Nickel rose to one-month high, as concerns mount that Indonesia's ore-export ban will reduce supplies. Indonesia, the biggest producer of mined nickel, plans to ban raw-mineral exports after Jan. 12. In spices, turmeric prices couldn't sustain at higher levels due to higher carry forward stocks available in the domestic market. Weak sentiment was reported in cardamom futures. Expectations of higher production current year pressurize the prices in the domestic market. Some export demand propped up jeera and chilli prices. Both guarseed and guargum traded in the negative territory. Prices of guar counter declined on weak demand amid consistent arrivals. Market is estimating 2.8-3 million tonnes of guar production for 2013-14. Heavy sugar stocks kept with millers and weak international sentiments drive sugar prices downwards. Soyabean traded up on tight supply issue. Tight stockpiles may keep prices buoyed until February or March, when growers in Brazil, the world's largest exporter of the oilseeds, and Argentina begin harvesting. Mustard seed prices witnessed a decline on weaker demand and fall in BMD CPO. CPO in Malaysia couldn't sustain at higher levels and declined on profit booking. NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change) 10.00 8.00 6.75 7.96 8.00 6.00 5.27 6.00 5.43 4.00 3.61 3.31 4.00 3.22 3.05 3.16 2.24 2.00 2.00 0.00 0.00 -2.00 -1.87 -1.99 -2.59 -1.48 -2.00 -3.32 -4.00 -1.82 -3.68 -3.00 -6.00 CASTOR SEED NEW RED CHILLI JEERA COPPER SOYABEAN MAIZE RABI GUAR GUM GUAR SEED BR. CRUDE OIL CHANA NATURAL GAS WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX) COMMODITY UNIT BARLEY MT 04.12.13 QTY. 2266 11.12.13 QTY. 999 -2.88 -2.79 GUAR GUM MENTHA OIL GUARSEED -4.00 ZINC LEAD NICKEL COPPER CPO CARDAMOM WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX) DIFFERENCE COMMODITY UNIT 05.12.13 QTY. -1267 CARDAMOM 12.12.13 DIFFERENCE QTY. MT 67.30 74.80 7.50 BALES 2269.31 2961.45 692.15 KGS 165.00 90.00 -75.00 CASTOR SEED MT 30238 0 -30238 CHANA MT 29532 20186 -9346 CHILLI MT 170 180 10 COTTONSEED OILCAKE MT 498 2686 2188 JEERA MT 528 372 -156 GOLD MINI KGS 102.80 22.60 -80.20 MAIZE MT 1675 3779 2104 GOLD GUINEA KGS 2.74 2.31 -0.42 RAPE MUSTARD SEED MT 8909 6828 -2081 MENTHA OIL KGS 2592913.40 2592913.40 0.00 SOYA BEAN SEEDS MT 2131 3173 1042 SUGAR M MT 1369 1169 -200 WHEAT MT 0 0 0 KAPASIA KHALLI GOLD MILD STEEL SILVER (30 KG Bar) MT 344.85 344.85 0.00 KGS 47995.79 36171.34 -11824.45 ® 12
  • COMMODITY SPOT PRICES (% change) Global gold demand: WGC CHILLI (GUNTUR) 5.56 CRUDE PALM OIL (KANDLA) 4.74 PEPPER MALABAR GAR (KOCHI) 4.10 RAW JUTE (KOLKATA) 2.93 BARLEY (JAIPUR) 2.19 SILVER 5 KG (DELHI) 2.05 SOYABEAN (INDORE) 1.19 REFINED SOYA OIL (INDORE) 0.85 RUBBER (KOCHI) 0.79 JEERA (UNJHA) -0.04 MASOOR (INDORE) Indian government's move to restrict the import of yellow metal and the fall in gold ETF amid growing concern about tapering of monetary stimulus is finally taking toll to gold demand. According to World Gold Council (WGC), the overall demand for gold across the globe declined by 21% to 869 tonne during the third quarter of 2013 compare to same period of previous year. The gold-backed ETFs (Exchange Traded Fund), which had net outflows of 119 tonnes this quarter, with much slower pace compared to 402 tonnes in Q2 2013. In value terms gold demand was down 37% to $37 bn compare to previous year. Other facts of WGC report: • However, demand remained strong across most countries and sectors. The jewellery, bar and coin sectors are showing year-to-date increase, while technology demand remains robust. • Global demand for jewellery was 487 tonnes in the quarter, up 5% on last year. US jewellery demand increased by 14% - the highest third quarter jewellery demand figure since Q3 2009. • Investment in bar and coins saw robust demand, up 6% year on year to 304 tonne, according to the report. • Demand for gold from the Technology sector made modest gains, reaching 102.8t in the third quarter. This was driven by lower prices and improved economic conditions. • But the net central bank purchases totalled 93 tonnes, 17% down on Q3 2012 and taking year-to-date purchases to 296.9 tonnes. Central banks have now been net purchasers of gold for 11 consecutive quarters. • India's contribution to demand in Q3 was affected as government measures to reduce gold imports, in an effort to control the current account deficit, began to take effect. -0.07 GUR (MUZAFFARNGR.) -0.51 TURMERIC (NIZAMABAD) -1.09 GOLD 10 GMS (MUMBAI) -1.10 CORIANDER (KOTA) -1.11 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00 WEEKLY STOCK POSITIONS IN LME (IN TONNES) COMMODITY STOCK POSITION 05.12.13 12.12.13 5472450 ALUMINIUM STOCK POSITION DIFFERENCE 5422675 -49775 -15550 COPPER 415425 399875 NICKEL 252816 253890 1074 LEAD 229450 224375 -5075 ZINC 951000 927750 -23250 PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $) COMMODITY EXCHANGE CONTRACT 06.12.13 12.12.13 CHANGE% ALUMINIUM LME 3 MONTHS 1773.00 1805.00 1.80 COPPER LME 3 MONTHS 7112.00 7214.50 1.44 LEAD LME 3 MONTHS 2091.50 2135.00 2.08 NICKEL LME 3 MONTHS 13830.00 14090.00 Source : WGC • In the July-September period, India's gold consumption was 148.2 tonnes, compared to 310 tonnes in Q2 of this year and a 32% year-on-year decrease. Jewellery demand dropped by 23 per cent to 105 tonnes (compared to 136 tonnes in last year) due to import restrictions. Gold imports fell to 85 tonnes from 223 tonnes in the September quarter last year. • China has kept its position as the world's largest gold consumer, requiring 210 tonnes in the third quarter this year. China's purchases of gold climbed 30%, to 996.3 tonnes, in the 12 months through September, while sales in India rose 24%, to 977.6 tonnes. India was No. 1 in 2012. • The supply of gold in the third quarter fell by 3% to 1,145.5 tonnes from the same period in 2012. A sharp contraction in the supply of gold from recycling accounted for the decline as mine production increased by 4%. This depict that the gold market has surplus of almost 289 metric tons, the largest surplus since 2005. According to the report, the global recycling fell 11% compared to the same quarter in 2012, while in India the figure increased more than fivefold to 61 tonnes. 1.88 ZINC LME 3 MONTHS 1902.50 1957.00 2.86 INTERNATIONAL COMMODITY PRICES COMMODITY EXCHANGE CONTRACT UNIT 06.12.13 12.12.13 CHANGE(%) GOLD COMEX FEB 1229.00 1224.90 -0.33 Soya CBOT JAN Cent per Bushel 1325.50 1323.75 SILVER COMEX MAR 19.52 19.45 -0.36 Maize CBOT MAR Cent per Bushel 434.25 434.25 0.00 LIGHT CRUDE OIL NYMEX JAN 97.65 97.50 -0.15 CPO BMD JAN MYR per MT 2658.00 2598.00 -2.26 NATURAL GAS JAN 4.11 4.41 7.17 Sugar LIFFE MAR 10 cents per MT 448.70 445.20 -0.78 NYMEX -0.13 ® 13
  • CURRENCY Currency Table News Flows of last week Currency Pair Open High Low Close 10th Dec: USD/INR 61.10 62.07 61.05 62.05 EUR/INR 84.27 85.45 83.71 85.40 10th Dec: 12th Dec: 12th Dec: GBP/INR 100.86 101.76 99.72 101.70 JPY/INR 59.30 60.42 59.20 60.40 12th Dec: 12th Dec: (Source: FX Central, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST) 12th Dec: Economic gauge for the next week Market Stance Rupee edged up higher to start the week with sharp gains with Nifty testing its all time highs on back of the strong electoral showing by BJP. Moreover decent gains in euro against dollar also supported the local currency. However, pair pared most of its gains in later part of the week on back of profit booking in local equities, and sustained inflationary pressures in the economy. Data showed that retail inflation spiked to its highest on record, raising expectations of another rate hike by the central bank and adding to the woes of the embattled government. In addition to that Asian shares stumbled to a 21/2 month low on Thursday on heightened expectations the Federal Reserve may act sooner than later to unwind its stimulus after a provisional budget deal in Washington eased some of the fiscal drag on the US economy. Technical Recommendation U.S. small business sentiment bounced back from a seven-month low in November U.S. wholesale inventories rose more than expected in October, British industrial output rose a touch more than expected in October Britain's economy grew an estimated 0.8 percent in the three months to the end of November U.S. import prices fell for a second straight month in November NY Fed: FX swaps with foreign central banks total $28 million in latest week U.S. retail sales rose solidly in November USD/INR USD/INR (DEC) contract closed at `62.05 on 12th December'13. The contract made its high of `62.07 on 12th December'13 and a low of `61.05 on 09th December'13 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at `62.11. On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 50.05. One can sell below 61.85 for a target of 60.75 with the stop loss of 62.50 GBP/INR GBP/INR (DEC) contract closed at `101.70 on 12th December'13. The contract made its high of `101.76 on 12th December'13 and a low of `99.72 on 09th December'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at `101.43.. On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 55.25. One can sell below 100.90 for a target of 99.50 with the stop loss of 101.60 Date Currency Event PREVIOUS 17th Dec GBP Consumer Price Index (YoY) 2.20% 17th Dec GBP Core Consumer Price Index (YoY) 1.70% 17th Dec EUR German ZEW Survey (Economic Sentiment) 54.6 17th Dec EUR Euro-Zone Consumer Price Index (YoY) 17th Dec EUR Euro-Zone Consumer Price Index - Core (YoY) 17th Dec USD Consumer Price Index (YoY) 1.00% 17th Dec USD Consumer Price Index Ex Food & Energy (YoY) 1.70% 18th Dec USD Federal Reserve FOMC Meeting Begins 18th Dec USD Federal Open Market Committee Rate Decision 0.25% 18th Dec USD Fed Releases Summary of Economic Projections 18th Dec USD Fed Pace of MBS Purchases $40 18th Dec USD Fed Pace of Treasury Purchases $45 18th Dec USD Fed's Bernanke Holds Press Conference in Washington EUR/INR EUR/INR (DEC) contract closed at `85.40 on 12th December'13. The contract made its high of `85.45 on 12th December'13 and a low of `83.71 on 09th December'13 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at `84.84. On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 58.78. One can buy around 85.00 for a target of 86.20 with the stop loss of 84.40. JPY/INR JPY/INR (DEC) contract closed at `60.40 on 12th December'13. The contract made its high of `60.42 on 12thDecember'13 and a low of `59.20 on 11th December'13 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at `60.75. On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 35.95. One can sell around 60.75 for a target of 59.50 with the stop loss of `61.30. ® 14
  • IPO IPO NEWS GMR picks Citi, three others for $300-$350 million airport IPO GMR Infrastructure Ltd has hired four banks including Citigroup and JPMorgan to manage the listing of its airport business that is expected to raise $300$350 million. The company, whose business interest includes airport, power and roads, has also picked Axis Capital, a unit of private Indian lender Axis Bank, and IDFC for the public offering. GMR operates airports in New Delhi, southern Indian city of Hyderabad and Istanbul in Turkey in partnership with other companies. The company owns majority stakes in both the Indian airport joint ventures. The group founders and private equity investors including Standard Chartered will sell some of their shares in the initial public offering of the airport unit, expected in the second half of next year. GMR, which is said to be in talks to sell its 40 percent in Istanbul's Sabiha Gokcen airport, is part of a consortium likely to win a $400 million tender to operate central Philippines' Mactan-Cebu International Airport. BSE public offer size likely at `400-1,000 cr The public offer of country's premier bourse BSE Ltd could range between `400 crore and `1,000 crore. BSE, Asia's oldest bourse, hopes to hit the market after five-six months following approval by the SEBI. Listing was decided at the time when the exchange was demutualised. It has 7000 shareholders broadly constituting 40 percent from the broking community, 30 per cent from foreign institutions, including foreign bourses and the remaining 30 percent from domestic non-broking institutions. The country's leading bourse was planning to use Offer for Sale (OFS) route to hit the market. BSE had applied with the regulator in January and was awaiting clearance. According to reports, BSE has sought exemptions from certain clauses from SEBI which were coming in the way of early approval from regulators. Power Grid FPO price set at ` 90/sh, govt to get `1600cr The government fixed the issue price for the sale of Power Grid Corporation of India shares at Rs 90 apiece, the upper end of the band, which would fetch about `7,000 crore. The Follow-on Public Offer (FPO) of the state-run transmission utility last week saw bids for 530 crore shares, or 6.74 times the 78.7 crore shares on offer. Retail investors and eligible employees will get a discount of `4.50 a share on the issue price, Power Grid said in a filing to the BSE. The price band for the FPO was `85-90 apiece. The Cabinet approved the FPO last month. The offer comprised 13 percent fresh equity by the company and 4 percent stake sale by the central government. The government will get about `1,600 crore from selling 18.51 crore shares, while Power Grid will raise close to `5,400 crore from its offer of 60.18 crore new shares. After the issue, the government's holding in the company will come down to 57.89 percent from the present level of 69.42 percent. The retail portion of the FPO, which closed on December 6, was subscribed 2.17 times. Qualified Institutional Buyers (QIB) bid for 9.09 times the shares reserved for them and non-institutional buyers bid for 9.7 times the shares they were offered. This was Power Grid's second FPO. The company and the government each sold a 10 percent stake in November 2010 at `90 a share. The company hit the capital market with an initial public offering in October 2007. So far in the current financial year, the government has raised over `1,300 crore through the sale of minority stakes in PSUs. It has set a target of `40,000 crore from disinvestment this financial year. IPO TRACKER 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 8116.21 950.11 5-Jun-13 530.00 590.00 1158.30 118.55 Repco Home Fin Finance 1948.72 270.39 1-Apr-13 172.00 165.00 313.50 82.27 V-Mart Retail Trading 398.71 123.00 20-Feb-13 210.00 216.00 222.00 5.71 Bharti Infra. Telecom 33811.49 4533.60 28-Dec-12 220.00 200.00 179.00 -18.64 PC Jeweller Jewellary 1547.42 609.30 27-Dec-12 135.00 135.50 86.40 -36.00 CARE Rating Agency 146.13 540.00 26-Dec-12 750.00 949.00 80.60 -89.25 Tara Jewels Jewellary 212.22 179.50 6-Dec-12 230.00 242.00 86.20 -62.52 VKS Projects Engineering 50.40 55.00 18-Jul-12 55.00 55.80 0.80 -98.55 Speciality Rest. Restaurants 562.82 181.96 30-May-12 150.00 153.00 119.85 -20.10 TBZ Jewellary 866.43 210.00 9-May-12 120.00 115.00 129.90 8.25 MT Educare Miscellaneous 355.04 99.00 12-Apr-12 80.00 86.05 89.25 11.56 NBCC Construction 1711.20 124.97 12-Apr-12 106.00 100.00 142.60 34.53 Olympic card. Media 43.22 24.75 28-Mar-12 30.00 29.95 26.50 -11.67 Multi Comm. Exc. Exchange 2095.34 663.31 9-Mar-12 1032.00 1387.00 410.85 -60.19 *Closing prices as on 12-12-2013 ® 15
  • ONLY FOR RENEWAL RATE OF INTEREST ( %) p.a S.NO MANUFACTURING (COMPANY NAME) 6M 12M PERIOD 18M 24M REMARKS MIN. INVESTMENT 36M 1 GODREJ PROPERTIES LTD - 8.50 - 9.00 9.50 ONLY NON-CUMULATIVE SCHEME 10000/- 2 JAGATJIT INDUSTRIES LTD 10.00 10.50 - 11.00 11.50 - 50000/- ®
  • MUTUAL FUND NEWS HDFC MF introduces FMP 369D December 2013 (1) HDFC Mutual Fund has launched the New Fund Offer (NFO) of HDFC FMP 369D December 2013 (1), a Close Ended Income scheme. The NFO opens for subscription on Dec 12, 2013, and closes on Dec 16, 2013. The investment objective of the scheme is to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s). There is no assurance that the investment objective of the Scheme will be realized. Reliance MF introduces Dual Advantage Fixed Tenure Fund Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Dual Advantage Fixed Tenure Fund IV - Plan E, a Close Ended Income scheme. The NFO opens for subscription on Dec 6, 2013, and closes on Dec 20, 2013. The investment objective of the scheme is to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure. ICICI Prudential MF introduces Fixed Maturity Plan-Series 71-1095 Days Plan O ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) of ICICI Prudential Fixed Maturity Plan-Series 71-1095 Days Plan O, a Close Ended Income scheme. The NFO opens for subscription on Dec 12, 2013, and closes on Dec 19, 2013. The investment objective of the scheme is to generate income by investing in aportfolio 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. LIC Nomura MF introduces Fixed Maturity Plan Series 73(366 Days) LIC Nomura Mutual Fund has launched the New Fund Offer (NFO) of LIC Nomura Fixed Maturity Plan Series 73(366 Days), a Close Ended Income scheme. The NFO opens for subscription on Dec 12, 2013, and closes on Dec 16, 2013. The investment objective of the scheme is to minimize interest rate risk by investing in a portfolio of fixed income securities which mature on or before the maturity of the scheme. LIC Nomura MF introduces Fixed Maturity Plan Series 73(366 Days) LIC Nomura Mutual Fund has launched the New Fund Offer (NFO) of LIC Nomura Fixed Maturity Plan Series 73(366 Days), a Close Ended Income scheme. The NFO opens for subscription on Dec 12, 2013, and closes on Dec 16, 2013. The investment objective of the scheme is to minimize interest rate risk by investing in a portfolio of fixed income securities which mature on or before the maturity of the scheme. IDBI MF introduces FMP Series IV 366 Days (December 2013) – A IDBI Mutual Fund has launched the New Fund Offer (NFO) of IDBI FMP Series IV 366 Days (December 2013) - A, a Close Ended Income scheme. The NFO opens for subscription on Dec 12, 2013, and closes on Dec 17, 2013. The investment objective of the scheme is to generate income through investments in Debt and Money Market Instruments. In accordance with SEBI Circular No SEBI/IMD/ CIR No. 12/147132/08 dated December 11, 2008 each Plan shall invest only in such securities which mature on or before the maturity date of the respective plan. IDBI MF introduces FMP Series III 494 Days (December 2013) –O IDBI Mutual Fund has launched the New Fund Offer (NFO) of IDBI FMP Series III 494 Days (December 2013) -O, a Close Ended Income scheme. The NFO opens for subscription on Dec 12, 2013, and closes on Dec 20, 2013. The investment objective of the scheme is to generate income through investments in Debt and Money Market Instruments. In accordance with SEBI Circular No SEBI/IMD/ CIR No. 12/147132/08 dated December 11, 2008 each Plan shall invest only in such security es which mature on or before the maturity date of the respective plan. DSP BlackRock MF introduces FMP-Series 130-12M DSP BlackRock Mutual Fund has launched the New Fund Offer (NFO) of DSP BlackRock FMP-Series 130-12M, a Close Ended Income scheme. The NFO opens for subscription on Dec 12, 2013, and closes on Dec 19, 2013. The investment objective of the scheme is to generate returns and capital appreciation by investing in a portfolio of Debt and Money Market Securities. The Scheme will invest only in such securities which mature on or before the date of maturity of the Scheme.There is no assurance that the investment objective of the Scheme will be realized. IDFC MF declares dividend under FMP 366 Days Series 83 IDFC (MF) has declared dividend under the dividend option, monthly dividend option and quarterly dividend option of IDFC Fixed Maturity Plan 366 Days Series 83. The record date for dividend is December 16, 2013. Primary objective to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. There is no assurance or guarantee that the objectives of the scheme will be realized. ICICI Prudential MF introduces Capital Protection Oriented Fund IV - PLAN H - 36 Months Plan ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) of ICICI Prudential Capital Protection Oriented Fund IV - PLAN H - 36 Months Plan, a Close Ended Income scheme. The NFO opens for subscription on Dec 11, 2013, and closes on Dec 24, 2013. The investment objective of the scheme is 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 securities would mature on or before the maturity of the Plan under the Scheme. However, there can be no assurance that the investment objective of the Scheme will be realized. Tata MF introduces Fixed Maturity Plan Series 46- Scheme E (1095 days from the date of allotment). Tata Mutual Fund has launched the New Fund Offer (NFO) of Tata Fixed Maturity Plan Series 46- Scheme E (1095 days from the date of allotment), a close ended income scheme. The NFO opens for subscription on Dec 11, 2013, and closes on Dec 19, 2013. The investment objective of the scheme is to generate income and / or capital appreciation by investing in wide range of Fixed Income Instruments having maturity in line with the maturity of a scheme. The maturity of all investments shall be equal to or less than the maturity of a scheme. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns. NFOs WATCH Fund Name NFO Opens on ICICI Prudential 02-Dec-2013 Capital Protection Oriented-Sr IV Plan G (60M)-Regular (G) NFO Closes on Scheme Objective Fund Type Fund Class 16-Dec-2013 to seek to protect capital by investing a portion Close-Ended Growth 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. Fund Manager Minimum Amount Rajat Chandak `5000// Rahul Goswami /Aditya Pagaria ® 17
  • MUTUAL FUND Performance Charts EQUITY (Diversified) Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns Returns (%) Scheme Name 3M 6M 1Y Risk NAV Launch AUM 3Y Since (`) Date (` Cr.) ICICI Pru. Exports and Other Services Fund - G 26.09 30-Nov-2005 155.04 14.13 32.71 39.37 13.32 12.67 1.56 0.37 ICICI Prudential Dynamic Plan - Growth 131.77 31-Oct-2002 3398.03 12.50 19.65 15.44 6.40 26.09 1.58 Market Cap (%) Std.Dev Beta Jenson 0.61 LARGE MID SMALL DEBT & CAP CAP CAP OTHER 0.50 57.25 32.16 2.34 8.26 0.15 54.96 21.33 0.84 22.87 Launch Tata Ethical Fund - Plan A - Growth 82.38 24-May-1996 108.20 7.14 13.28 13.72 6.65 16.51 1.30 0.48 0.09 69.16 24.79 -- 6.05 Franklin India Smaller Companies Fund - G 18.80 13-Jan-2006 281.76 20.84 14.49 13.62 7.74 8.30 1.97 0.67 0.14 13.12 78.10 0.34 8.43 ICICI Prudential Top 100 Fund - Growth 168.55 09-Jul-1998 379.06 9.97 15.75 12.22 6.34 20.08 1.87 0.78 0.12 85.60 4.55 -- 9.85 Axis Equity Fund - Growth 13.42 05-Jan-2010 563.06 7.36 7.53 11.55 5.40 7.76 1.74 0.79 0.13 79.65 13.18 2.40 4.77 Franklin India High Growth Com. Fund - G 15.57 26-Jul-2007 486.40 12.26 12.02 10.04 5.72 7.18 1.87 0.77 0.09 53.85 35.68 2.17 8.30 NAV (`) Launch Date AUM (` Cr.) 3M Since Launch Std.Dev BALANCED Returns (%) Scheme Name 6M 1Y Risk 3Y Jenson Market Cap (%) LARGE CAP MID CAP SMALL CAP DEBT & OTHER SBI Magnum Balanced Fund - Growth 61.78 09-Oct-1995 398.12 11.28 10.20 11.05 5.44 15.68 1.35 0.10 33.29 36.82 2.24 27.66 ICICI Prudential Balanced - Growth 60.52 03-Nov-1999 535.01 9.44 9.50 9.21 13.60 1.33 0.09 50.04 18.17 0.39 31.39 FT India Balanced Fund - Growth 58.01 10-Dec-1999 193.03 8.72 5.81 7.45 5.38 13.36 1.53 0.03 57.14 15.35 -- 27.51 HDFC Balanced Fund - Growth 67.57 11-Sep-2000 1099.18 12.59 10.36 6.72 6.65 15.50 1.40 -- 25.45 44.16 1.58 28.81 10.04 Birla Sun Life 95 - Growth 360.00 10-Feb-1995 584.69 7.34 6.43 5.32 4.60 20.94 1.46 -- 57.53 14.53 1.07 26.86 Tata Balanced Fund - Plan A - Growth 103.34 08-Oct-1995 562.98 7.30 6.94 5.18 7.15 15.65 1.51 -0.01 49.48 24.76 0.31 25.46 UTI Balanced Fund - Growth 91.10 20-Jan-1995 869.48 8.72 8.21 4.91 3.30 15.96 1.35 -0.01 55.69 17.18 1.44 25.69 NAV Launch AUM (`) Date (`Cr.) INCOME FUND Returns (%) Scheme Name Tata Dynamic Bond Fund - Plan A - G 18.43 Templeton India Income Oppo. Fund - G 14.01 Axis Banking Debt Fund - Growth 1138.26 ICICI Prudential LTP - Reg - Cumulative 25.81 T empleton India Corporate Bond Oppo. Fund - G 12.23 Tata Income Plus Fund - Plan A - Growth 19.01 Morgan Stanley Active Bond Fund - Reg - G 12.62 03-Sep-2003 11-Dec-2009 08-Jun-2012 28-Mar-2002 07-Dec-2011 11-Nov-2002 03-Jun-2009 Risk Annualised 1W 392.85 -4.97 3742.69 5.62 256.69 9.53 303.39 8.38 4871.08 5.59 174.49 -5.97 589.86 -21.31 Since Std. 2W 1M 6M 1Y 3Y Launch 12.60 13.44 11.00 8.16 14.22 11.76 6.59 2.84 5.75 8.46 8.85 5.88 -0.39 -3.59 11.06 8.74 8.73 8.73 8.66 8.41 8.23 8.44 9.27 -8.61 -7.87 7.15 6.13 8.79 8.94 8.43 10.49 5.96 5.28 40.32 17.33 8.32 2.51 18.14 33.03 28.78 Yield till Maturity (Days) Maturity Dev. 5.39 9.92 12.66 7.87 10.58 3.39 -10.53 Average Sharpe SHORT TERM FUND 0.10 0.08 0.15 0.45 0.08 0.04 0.04 1628.00 842.00 102.00 6.79 972.00 1595.00 3728.00 8.41 10.81 9.06 6.65 11.03 8.97 7.95 Due to their inherent short term nature, the following 2 categories have been sorted on the basis of 6month returns Returns (%) Risk Average Yield till (`) Date (`Cr.) 1W Annualised 2W 1M 6M 1Y 3Y Launch Sundaram Flexible Fund - ST - Growth 18.41 30-Dec-2004 750.64 8.28 10.09 9.22 7.01 7.86 8.34 7.05 8.55 0.05 80.00 8.84 Birla Sun Life Short T erm Oppo. Fund - Reg - G 19.95 24-Apr-2003 1029.13 9.03 11.54 12.15 6.95 10.20 10.17 6.71 14.33 0.18 -- 10.38 Sundaram Select Debt - S TA P - Reg - Appreciation 21.38 04-Sep-2002 305.37 7.35 10.05 10.05 6.88 10.09 11.07 6.97 13.81 0.19 391.00 9.55 HDFC Short Term Opportunities Fund - G 13.43 25-Jun-2010 2389.25 7.58 12.35 13.62 6.73 8.46 9.21 8.86 13.44 0.08 485.00 9.74 6.80 9.93 Scheme Name NAV Launch AUM Since Std. Sharpe Dev. Maturity (Days) Maturity Tata Short Term Bond Fund - Plan A - G 22.96 08-Aug-2002 320.22 11.50 6.73 9.24 9.00 7.59 12.68 0.13 471.00 9.01 Birla Sun Life Medium Term Plan - Reg - G 14.77 25-Mar-2009 1320.35 12.42 13.71 13.40 6.59 10.36 10.24 8.62 15.47 0.18 -- 11.02 Morgan Stanley Short T erm Bond Fund - Reg - G 14.07 26-May-2009 526.66 6.59 9.11 9.24 7.86 13.62 0.11 533.00 9.21 Average Yield till NAV Launch Since Std. Dev. 7.54 11.58 10.94 1W Annualised 2W 1M ULTRA SHORT TERM Returns (%) Scheme Name AUM Risk Sharpe Maturity (Days) Maturity 6M 1Y 3Y Launch DSP BlackRock Money Manager Fund - Reg - G 1694.55 31-Jul-2006 1686.27 8.23 10.24 9.70 9.73 9.18 8.82 7.42 4.92 0.33 104.00 -- DWS Ultra Short-Term Fund - Growth 20.20 21-Oct-2003 1842.88 9.18 9.94 9.32 9.47 9.19 9.16 7.17 4.37 0.38 40.00 9.55 (`) Templeton India USB Fund - Retail - G Date (`Cr.) 15.96 18-Dec-2007 4132.25 9.53 10.60 9.80 9.34 9.42 9.33 8.12 3.71 0.50 73.00 9.65 Tata Floater Fund - Plan A - Growth 1872.96 06-Sep-2005 2700.42 9.09 10.15 9.94 9.33 9.38 9.39 7.88 4.34 0.43 89.00 9.14 Birla Sun Life Ultra Short Term Fund - Ret - G 225.46 19-Apr-2002 543.50 8.64 10.28 10.56 9.25 9.35 9.25 7.22 4.55 0.40 -- 9.64 IDFC Ultra Short Term Fund - Reg - G 17.38 17-Jan-2006 1824.43 9.83 11.04 10.16 9.25 9.41 9.70 7.24 4.84 0.40 63.00 9.34 Birla Sun Life Savings Fund - Ret - G 231.39 27-Nov-2001 4607.40 9.13 11.29 10.42 9.23 9.31 9.20 7.21 5.10 0.34 -- 9.72 Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 12/12/2013 Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7% ® 18