8/9/2019 Religare Commodities Ltd
1/34
COMMODITY MARKET (BASE METALS)
A PROJECT REPORT
Submitted by
ALMALIK RAJPARI
ROLL NO. 736
in partial fulfillment for the award of the degree
of
Bachelor of Business Administration (BBA)
IN
M.E.S College of Arts & Commerce, Zuarinagar.
16th April, 2010
[1]
8/9/2019 Religare Commodities Ltd
2/34
Declaration
I hereby declare that the project entitled COMMODITY MARKET (BASE METALS) is
original work done by me under the guidance of Mr. Bhupinder Kumar and Mr. Parag
Insulkar, the branch head and the commodity dealer respectively of Religare, Vasco Branch.
[2]
8/9/2019 Religare Commodities Ltd
3/34
Acknowledgement
I have the honor to offer our deep sense of gratitude and heartiest thanks to ReligareEnterprise Private Limited for helping me complete my Internship at their Vasco branch
office.
I would like to take this opportunity to convey my deep debt of gratitude to my company
guide Mr. Bhupinder Kumar and Mr. Parag Insulkar for their continuous advices, mentoring
and kind support for the accomplishment of my project.
I would also like to thank my Internship guide Mrs. Bindu Abhilash, who seemed to be with
us always, gave us feedbacks and guidelines whenever we needed it. Thank You Maam!
I consider it as our great privilege to have completed my summer internship at Religare
Enterprise Private Limited and shall always look forward for any opportunity to associate
myself with them in future.
Finally I am thankful to all those who have assisted directly and indirectly in completion of
this project.
Table of Contents
[3]
8/9/2019 Religare Commodities Ltd
4/34
Sr. No. Particulars Page No.
1. Problem Statement 5
2. Objectives of the Project 5
3. Problem Background 5
4. Overview of Commodity Market 6
5. Structure of Commodity Market 7
6. Forward Market Commission (FMC) 8
7. Multi Commodity Exchange of India (MCX) 8
8. About Religare Commodities Limited 9
9. Services 10
10. Organisational Structure 11
11. Finding and Analysis of Survey 12
12. Finding and Analysis of Base Metals 16
a. Aluminium 16
b. Copper 18
c. Lead 20
d. Nickel 22
e. Zinc 24
13. Conclusion 26
14. Recommendations 27
15. Annexure 30
16. Officials Interacted 32
17. Bibliography 32
Problem Statement
[4]
8/9/2019 Religare Commodities Ltd
5/34
The customers are having problem predicting the commodity market futures due to lack of
information and knowledge.
Objectives of the Project
1. To recommend the best possible prediction of the Base Metals in the commodity
market.
2. To give the proper facts and figures to provide the reasoning behind the prediction.
3. To help Religare gain more image in terms of prediction in the commodity market.
4. To conduct a survey to find out the actual interest of the clients of Religare in the
commodity market.
Problem Background
Commodity market is a fast growing market and people are willing to shift to it. But while
people are shifting they do not know how should the analysis of the commodities is done.
Less knowledge about most of the commodities except gold and silver
Clients require a diversified portfolio so shifting towards commodities is increasing.
Not much information provided in terms of the demand and supply of the commodity
in the global and domestic market which leads to the price changes.
The commodity sector is supposed to grow 4 times at the end of 2010.
Some agricultural products are risky so the clients think that other than gold and silver
every commodity is risky for them.
[5]
8/9/2019 Religare Commodities Ltd
6/34
Overview of Commodity Market
Commodity
Any product that can be used for commerce or an article of commerce which is traded on an
authorized commodity exchange is known as commodity. The article should be movable of
value, something which is bought or sold and which is produced or used as the subject or
barter or sale. In short commodity includes all kinds of goods. Indian Forward Contracts
(Regulation) Act (FCRA), 1952 defines goods as every kind of movable property otherthan actionable claims, money and securities.
Commodity exchange
A commodity exchange is an association or a company or any other body corporate
organizing futures trading in commodities for which license has been granted by regulating
authority.
Commodity Futures
[6]
8/9/2019 Religare Commodities Ltd
7/34
A Commodity futures is an agreement between two parties to buy or sell a specified and
standardized quantity of a commodity at a certain time in future at a price agreed upon at the
time of entering into the contract on the commodity futures exchange. The need for a futures
market arises mainly due to the hedging function that it can perform. Commodity markets,
like any other financial instrument, involve risk associated with frequent price volatility.
Structure of Commodity Market
[7]
8/9/2019 Religare Commodities Ltd
8/34
FORWARD MARKET COMMISSION
[8]
8/9/2019 Religare Commodities Ltd
9/34
Forward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority
which is overseen by the Ministry of Consumer Affairs and Public Distribution, Govt. of India.
It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952.
Multi Commodity Exchange of India Limited (MCX)
Multi Commodity Exchange of India Limited (MCX) is an independent and de mutulized
exchange with permanent reorganization from Government of India, having Head Quarter in
Mumbai. Key share holders of MCX are Financial Technologies (India) Limited, State Bank
of India, Union Bank of India, Corporation Bank of India, Bank of India and Cnnara Bank.
MCX facilitates online trading, clearing and settlement operations for commodity futures
market across the country.
MCX started of trade in Nov 2003 and has built strategic alliance with Bombay Bullion
Association, Bombay Metal Exchange, Solvent Extractors Association of India, pulses
Importers Association and Shetkari Sanghatana.
MCX deals with about 100 commodities.
[9]
8/9/2019 Religare Commodities Ltd
10/34
About Religare Commodities Limited(RCL)
Religare Commodities Limited (RCL), a wholly owned subsidiary of Religare Enterprises
Limited was initiated to spearhead Exchange based Commodity Trading. As a member of
NCDEX, MCX and NMCE, RCL is a trade facilitator providing the platform to trade in
commodities. Grounded in the Religare philosophy, highly skilled and dedicated
professionals strive to offer the client best investment solutions across the country.
The Operating Fabric - Commodities Business
In terms of the business structure, RCL caters to retail investors through its 529 branches
across the country; Spot Exchange for catering to the needs of the clients who are sitting at
commodity hubs and the Corporate Desk for the HNIs / Corporate catering to special trading
strategies as per their business interests.
Our business philosophy is to treat each client situation as unique, requiring customized
solutions. Our list of corporate clients reads like a Whos Who of the Indian Industry and we
have been successful in providing them with practical customized solutions for their
requirements. We are propelled by our group vision and desire to strive tirelessly and aim to
be the best within this category.
The Religare Edge
Pan India footprint
Ethical business practices
Nationwide presence including Mandi Locations for in-depth and firsthand
information
[10]
8/9/2019 Religare Commodities Ltd
11/34
Offline/Online delivery models
Powerful research and analytics supported by a pool of highly skilled research
analysts
Single window for all investment needs through your unique CRN
Services
[11]
Arts Initiative
Investment
Banking
Wealth
Advisory
ServicesPersonal
Credit
Insurance
Mutual Fund
Commodity
Equity
Religare
Enterprise
PrivateLimited
8/9/2019 Religare Commodities Ltd
12/34
Organization Structure
[12]
8/9/2019 Religare Commodities Ltd
13/34
Findings and Analysis of Survey
Do you have any investment plan?
If, yes, where you would like to invest your money?
[13]
8/9/2019 Religare Commodities Ltd
14/34
If no, why?
Are you willing to invest in Commodity Market?
[14]
8/9/2019 Religare Commodities Ltd
15/34
If yes, which Commodity Exchange you will prefer for investment?
In which Commodities you will prefer to Invest?
What is your perception about Commodity Market?
[15]
8/9/2019 Religare Commodities Ltd
16/34
What you think Commodity Market Advertisements (hoardings, prints etc) are
explanatory enough to give needed useful information?
Findings
Most of the people surveyed have an investment plan.
Many people opted for multiple option i.e. Commodity Market as well as Share
market because of a balanced portfolio and cutting down on risk.
Most people who preferred only shares had got good returns from their investment in
the share market.
Only some more people were willing to invest in the commodity market because they
were mainly unaware of the options other than gold and silver.
[16]
8/9/2019 Religare Commodities Ltd
17/34
People who were aware about commodities wanted to trade mostly in MCX or
NCDEX because of more options available for investment.
Many people only wanted to invest in gold and silver i.e. Bullion and the least were in
agricultural products because it is too risky.
There was a mixed perception about whether it is less risky, risky or more risky.
The advertisements and hoarding did not make any effect on the people because it
was never understood anyone till it was explained personally or they already had prior
knowledge about it.
Findings and Analysis of Base Metals
Aluminium
Characteristics of Aluminium
Aluminium is the third most abundant element in the Earth's crust. In nature however
it only exists in very stable combinations with other materials (particularly as silicates
and oxides) and it was not until 1808 that its existence was first established.
[17]
8/9/2019 Religare Commodities Ltd
18/34
Aluminium is light. Its density is only one third that of steel. Aluminium is resistant to
weather, common atmospheric gases and a wide range of liquids. Aluminum has a
high reflectivity, and therefore finds more decorative uses. Aluminum has high
elasticity, which is an advantage in structures under shock loads.
Aluminium keeps its toughness down to very low temperatures, without becoming
brittle like carbon steels. It is easily worked and formed. Aluminium conducts
electricity and heat nearly as well as copper.
Supply and Demand
Global Scenario
Aluminium ore, most commonly bauxite, is plentiful and occurs mainly in tropical
and sub-tropical areas - Africa, West Indies, South America and Australia. There are
also some deposits in Europe.
The leading producing countries include the United States, Russia, Canada, the
European Union, China, Australia, Brazil, Norway, South Africa, Venezuela, the Gulf
States (Bahrain and United Arab Emirates), India and New Zealand; together they
represent more than 90 percent of the world primary aluminium production.
The largest aluminium markets are North America, Europe and East Asia.
The global production of aluminium was about 27.7 and 28.9 million tons in 2003 and
2004 respectively.
China, Russia, Canada and United States produced about 6.1, 3.6, 2.64 and 2.5
million tons of aluminium in year 2004 respectively.
Indian Scenario
India is considered the fifth largest producer of aluminium in the world.
It is estimated at about 3037 million tonnes for all categories of bauxite (proved,
probable and possible). With the present level of consumption of aluminum, the
identified reserves would have an estimated life of over 350 years. India's reserves are
[18]
8/9/2019 Religare Commodities Ltd
19/34
estimated to be 7.5 per cent of the total deposits and installed capacity is about 3 per
cent of the world.
In terms of demand and supply, the situation is not only self-sufficient, but it also has
export potential on a competitive basis. India's annual export of aluminium is about82,000 tonnes.
Indias annual consumption of Aluminum is around 9.18 lakh tons.
About a decade back, the primary Indian aluminium producers were BALCO, NALCO,
INDAL, HINDALCO and MALCO. Of the five, two (BALCO and NALCO) were in
the public sector while the other three were in the private sector
As a result of the process of liberalization of trade in aluminium, India has emerged as
a net exporter of aluminium, on competitive terms. Government monopoly, in terms of
aluminium production, removal of price and distribution control over aluminium, has
been diluted in favour of private sector. The ownership pattern in private sector has
undergone changes. With the takeover of INDAL by the HINDALCO, it has emerged
as the major producer of aluminium in the country.
World Aluminium Markets
London Metal Exchange (LME), Tokyo Commodity Exchange (TOCOM), Shanghai Futures
Exchange (SHFE) and New York Mercantile Exchange (NYMEX) are the important
international markets that provide direction to the aluminium prices.
Copper
Characteristics of Copper
Copper ranks third in world metal consumption after steel and aluminium. It is
a product whose fortunes directly reflect the state of the world's economy.
Copper is the best non-precious metal conductor of electricity. The metal's
exceptional strength, ductility, and resistance to creeping and corrosion, makes it the
preferred and safest conductor for building wiring. Copper is also used in power
cables, either insulated or uninsulated, for high, medium and low voltage applications.
Copper is an essential component of energy efficient motors and transformers and
automobiles.
[19]
8/9/2019 Religare Commodities Ltd
20/34
Supply and Demand
Global Scenario
Economic, technological and societal factors influence the supply and demand of
copper. As society's need for copper increases, new mines and plants are introduced
and existing ones expanded.
Land-based resources are estimated at 1.6 billion tons of copper, and resources in
deep-sea nodules are estimated at 0.7 billion tons.
The global production of refined copper is around 15 million tons.
The major copper-consuming nations are Western Europe (28.5%), the United States
(19.1%), Japan (14%), and China (5.3%).
Copper and copper alloy scrap composes a significant share of the world's supply.
The largest international sources for scrap are the United States and Europe. Chile,
Indonesia, Canada and Australia are the major exporters and Japan, Spain, China,
Germany and Philippines are the major importers.
Indian Scenario
The size of Indian Copper Industry is around 4 lakh tons, which as percentage of
world copper market is 3 %.
Birla Copper, Sterilite Industries are two major private producers and Hindustan
Copper Ltd the public sector producers.
India is emerging as net exporter of copper from the status of net importer on account
of rise in production by three companies.
Copper goes into various usage such as Building, Cabling for power and
telecommunications, Automobiles etc. Two major states owned telecommunications
service providers; BSNL and MTNL consume 10% of country's copper production.
Growth in the building construction and automobile sector would keep demand of
copper high.
[20]
8/9/2019 Religare Commodities Ltd
21/34
World Copper Markets
LME and NYMEX are the two international markets, which provide direction to the
copper prices.
The eight leading refining nations, viz., United States,Japan, Chile, Canada, Zambia,
Belgium, and the Federal Republic of Germany account for 67% of total refined metal
production.
Factors Influencing Copper Markets
Copper prices in India are fixed on the basis of the rates that rule on LME the
preceding day.
World copper mine production through exploration of new mine and expansion of
existing mine.
Economic growth of the major consuming countries such as China, Japan, Germany
etc.
Growth and development in the Building, electronics and electrical industry.
Lead
Characteristics of Lead
Lead is a very corrosion-resistant, dense, ductile, and malleable blue-gray metal that has been
used for at least 5,000 years. Early uses of lead included building materials, pigments for
glazing ceramics, and pipes for transporting water. Today's major use of lead is in lead-acid
storage batteries. The electrical systems of vehicles, ships, and aircraft depend on such
batteries for startup, and, in some cases, batteries provide the actual motive power. It is also
for soundproofing in office buildings, schools, and hotels. It is widely used in hospitals to
block X-ray and gamma radiation and is employed to shield against nuclear radiation both in
permanent installations and when nuclear material is being transported.
[21]
8/9/2019 Religare Commodities Ltd
22/34
Supply & Demand Scenario
Domestic Scenario
Lead production equalled approximately 82,000 tonnes in 2004, mostly from
secondary sources.
The main constraint in lead production in the country is the lack of lead ore reserves,
which necessitates large-scale imports and recycling.
Lead demand in India was estimated at 150,000 tonnes for 2004. Due to huge gap in
demand-supply, India imported nearly about 50% of its domestic demand.
The major suppliers for the imports were China, the Republic of Korea and Australia:
54%, 15% and 10% respectively.
The domestic industry is characterized by the presence of only a few players in the
primary segment. The primary lead industry in India is divided between the following
main players: Binani Industries Limited and Sterlite Industries (India) Ltd. (Hndustan
Zinc Ltd.). Due to increasing use of lead in domestic market both players are
expanding their smelting capacities for lead.
World Scenario
USA, Japan, China, EU and India are the major consumers of Lead.
Supply is controlled by Australia and China.
Lead in the global market is traded as soft lead, animated lead, lead alloys and copper-
base scrap.
Factor influencing demand and supply
Changes in inventory level at LME wharehouses
Economic growth rate of major consuming countries
Global growth and demand in major consuming industries
[22]
8/9/2019 Religare Commodities Ltd
23/34
Prices of the alternative metal(s)
Participation of funds
Nickel
Characteristics of Nickel
Nickel finds its usage in various industries such as engineering, electrical and
electronics, infrastructure, automobile and automobile components, packaging,
Batteries etc.
Among base metals Nickel is the most volatile owing to its strong demand and tight
supply.
Nickel demand is derived demand based on the growth of different industrial sector
thus exhibits high volatility.
[23]
8/9/2019 Religare Commodities Ltd
24/34
About 65 per cent of nickel is used in manufacture of stainless steels, and 20 per cent
in other steel and non-ferrous including "super" alloys, often for highly specialized
industrial, aerospace and military applications.
Characteristics of World Nickel Market
Nickel world market is characterized by rising demand and constrained supply.
More than 54% if world total supply comes from only five companies.
Global nickel consumption is growing by an average 3.1 per cent a year.
Supply and Demand
Major producers of Nickel are Russia, followed by Australia, Canada, New Caledonia
and Indonesia, which represents over 65% of total world production.
World primary nickel consumption is about 1 million tons. Consumption centers are
Japan 2 lakh tons and European Union 3.74 lakh tons. Rapid expansion of global stainless steel production is fuelling demand for primary
nickel.
Important World Nickel Markets
London Metal Exchange.
Indian Nickel Market
Nickel market in India is of total import dependent.
India imports around 30,000 tons of Nickel.
Import duty on Nickel is 15%.
With growth in the stainless steel sector Nickel import demand is expected to increase
in the coming years.
[24]
8/9/2019 Religare Commodities Ltd
25/34
India in World Nickel Industry
India meets its Nickel Requirement through import.
Factors Influencing Nickel Markets
Above ground supply from scrap.
New mines discovery.
Nickel demand is derived demand thus the situation in the various industries.
Growth in consumption of Stainless steel.
Zinc
General Characteristics
Zinc is the fourth most widely used metal after steel, aluminum and copper in the world. Due
to its resistance to non-acidic atmospheric corrosion zinc is instrumental in extending the life
of buildings, vehicles, ships and steel goods and structures of every kind.
Zinc is a bluish-white lustrous metal. It is normally covered with a white coating on
exposure to the atmosphere. Zinc dust is flammable when exposed to heat and burns with a
bluish-green flame. Zinc also exists in many compounds. Zinc has a role in normal human
[25]
8/9/2019 Religare Commodities Ltd
26/34
growth, taste, and sperm development, but exposure to high levels of zinc through inhalation,
ingestion, and dermal contact can cause adverse health effects.
Zinc is used for alloys, electroplating, metal spraying, electrical fuses, batteries, rubber, paint,
glue and matches. Zinc is registered as a fungicide, herbicide, and rodenticide. The primary
stationary sources of zinc are electric services, petroleum refining, crude petroleum and
natural gas extraction, manufacturing of fabricated rubber products, manufacturing of
fabricated metal heating and plumbing products, and manufacturing of inorganic chemicals.
Indoor sources include infiltration of outdoor air, smoking, cooking, and other indoor
sources. The average indoor concentration of zinc is normally slightly higher than the outdoor
level. Zinc occurs naturally in the earth's crust.
Domestic Scenario
The Indian zinc industry entered its transformation phase with the privatisation of the
largest zinc producer, Hindustan Zinc Ltd, in favour of the Sterlite group in April
2002. The domestic zinc industry is now completely under the private sector and is in
the midst of a serious expansion programme.
By end of 2010, India is expected to attain complete self-sufficiency in meeting its
zinc demand. Thereafter, the process of India becoming an important zinc supplier to
the world would be initiated, provided that another phase of capacity expansion is
affected.
Even if one assumes that zinc demand grows by 10 per cent till end of 2010 and at
slower 7 per cent thereafter, India would require zinc capacity of 14 lakh tpa by 2020,
in order to be self-reliant.
Buoyancy in domestic zinc demand primarily emanates from the boom in the steel
industry, given that over 70 per cent of zinc is used for galvanizing. The steel industry
has bright prospects with demand drivers being the construction industry and exports.
Other sources for demand would be die-casting, guard rails for highways and
imported-substituted zinc alloys.
Global Scenario
[26]
8/9/2019 Religare Commodities Ltd
27/34
Substitutes: - Aluminum, steel, and plastics substitute for galvanized sheet. Aluminum,
plastics, and magnesium are major competitors as diecasting materials. Plastic coatings,
paint, and cadmium and aluminum alloy coatings replace zinc for corrosion protection;
aluminum alloys are used in place of brass. Many elements are substitutes for zinc in
chemical, electronic, and pigment uses.
Factors Influencing Zinc Market
Changes in inventory level at LME wharehouses
Economic growth rate of major consuming countries
Global growth and demand in major consuming industries
Prices of the alternative metal(s)
Participation of funds
Factor influencing demand and supply
London Metal Exchange.
Conclusion
From the survey conducted and the research done I can conclude that people are gaining
interest but due to lack of knowledge they are not will to invest. However the number of
clients has increased for investing in commodities. It is also seen that the base metals have a
lot of potential in the commodities market. Metals like aluminium, nickel and zinc are the
metals to look out for because of their demand in the global market and domestic market.
[27]
8/9/2019 Religare Commodities Ltd
28/34
Recommendations
The clients who wish to invest in the commodity market should be given proper
information about the working of the market and the options available in it. This will
lead to a good and knowledgeable client base and the client will also understand the
market properly.
The commodity dealer should make sure that the research report given by Religare
has been properly analysed by the client. This will help him take future action for his
investment.
The articles which are published online by any site, it should be mailed to the client as
soon as possible with the commodity dealers comments attached with the mail. This
will give time to time update to its clients.
[28]
8/9/2019 Religare Commodities Ltd
29/34
The commodity dealer should also design a demonstration portfolio of different
commodities to show its potential clients. This will impress the clients and also make
the companys image better.
Aluminium
It was on a decline in the month of January.
The rise in aluminium depends on the dynamics of automobile and packaging industry
performance.
Presently, it is seen that the aluminium is at stagnancy due to low demand from
China.
But in the long run, the demand will remain firm because of the rising income levels
in developing countries which keeps the demand strong for automobiles.
But due to low demand from china it may come down. So, on the contrary, any move
below Rs.91-90/kg level would amount to considerable selling.
Copper
Copper prices dipped initially in the starting of the month of February.
But as the month passed by the prices of copper increased because of the growth in
the U.S. manufacturing sector in January at a faster rate than expected. The prices also
touched its highest in the starting of March at Rs. 344/kg from Rs. 290/kg.
There is also a recovery seen in Europe in this time period and a very fast growing
manufacturing sector which can take copper up to the mark or Rs. 365-370/kg.
On the other hand, any downfall in this sectors will lead to lowering the prices to a
level of around Rs. 290/kg which would be a considerable option to sell copper.
Lead
China dominates the Lead market and if they reduce the exports of lead there will be a
deficit in the world markets. This will show a decline in the lead prices.
[29]
8/9/2019 Religare Commodities Ltd
30/34
But, in the starting of March Ivernia Incorporation has started its operations at
Magellan Mine in Western Australia which has a stock of around 7 weeks which will
help the lead prices be stable.
Lead reached the highs of Rs. 121/kg in January but now it its running stable at
Rs.110/kg due to stagnant demand in the world market.
But if the demand goes lower and the price falls it would be feasible enough to book a
loss at around Rs.90/kg.
Nickel
Nickel is presently following a positive approach and is expected to remain the most
promising metal in the entire base metal complex.
The global demand for Nickel is rising due to the rise in the demand for stainless
steel. This will help Nickel for a very nice stability in the market.
China consumption of stainless steel has increased to 32% in March.
The overall trend of Nickel is very promising in the coming days which can move upthe prices to Rs. 1050-1100/kg from Rs. 920/kg. It would be a good option for
booking the profits as it reaches at its high.
But due to any fluctuation in the market the price fall it would be considerable to see
that it is sold off when it reaches Rs. 900/kg or below.
Zinc
[30]
8/9/2019 Religare Commodities Ltd
31/34
Zinc held firm as positive economic data Such as GDP and manufacturing from
America paved the way for improved base metals demand.
It credit market in china was tightened in January so people in china held off from
trading and build stock piles in January and February to ensure that they have proper
stack in March when factories resume proper operations.
Since March there has been an increase in prices of Zinc because of high demand by
the global manufacturers. The prices of zinc jumped to Rs. 109-110/kg from Rs.90/kg.
Looking at the current demand and sustainability if zinc it is expected to go till
Rs.122-125/kg. But if there is any uncertainty and the prices fall den there should be a
booking of loss done at Rs. 90/kg.
Annexure
COMMODITY MARKET-Questionnaire
1. Do you have any investment plan?
a. YES b. NO
(If no move to question no. 4)
2. If, yes, where you would like to invest your money?
a. Bank F.D. b. Share Market c. Commodity Market d. Other (specify)
3. Why you prefer specific investment?
-------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------
4. If no, why?
[31]
8/9/2019 Religare Commodities Ltd
32/34
a. Not aware about invest avenues b. Insufficient income c. Other (specify)
5. Are you aware about Commodity Market?
a. YES b. NO
(If no move to question no 12)
6. Are you willing to invest in Commodity Market?
(If in Q. 2 Commodity Market, skip this question)
a. If YES, why? ------------------------------------------------------------------------------
b. If NO, why? ------------------------------------------------------------------------------
(If no move to the Question no.10)
7. If yes, which Commodity Exchange you will prefer for investment?
a. MCX b. NCDEX c. NMCE d. Other (specify) f. Cant Say
8. Why you prefer specific Commodity Exchange for investment?
(If answer to Q.7 f, skip this question)
-------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------
9. In which Commodities you will prefer to Invest? And why?
a. Bullion b. Agricultural c. Metals d. Fossils/Energy
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
10. What is your perception about Commodity Market?
a. Less Risky b. Risky c. Very Risky
11. What you think Commodity Market Advertisements (hoardings, prints etc) are
explanatory enough to give needed useful information?
a. YES b. NO
12. Gender[32]
8/9/2019 Religare Commodities Ltd
33/34
a. Male b. Female
13. Age Group
a. Below 21 Years b. 21 years 30 years c.31 years 40 years
d. 41 years 50 years e. Above 50 years
14. Occupation
a. Govt. Job b. Private Job c. Business d. Other (specify)
15. Income Group (Per month)
a. Nil b. Below 10,000/- c. 10,000 20,000/-
d. 20,000 30,000/- e. Above 30,000/-
Officials Interacted
NAME DESIGNATION CONTACT NO.
Mr. Bhupinder Kumar Branch Head, Vasco 09326110010
Mr. Parag Insulkar Commodity Dealer, Vasco 09637109523
Bibliography
1. www.kitco.com
2. www.kitcometals.com
3. www.nymex.com
4. www.bloomberg.com
5. www.netdania.com6. www.reuters.com
[33]
8/9/2019 Religare Commodities Ltd
34/34
7. www.mcxindia.com
8. www.ncdex.com
9. www.metalsmarket.com
10.Commodity Market Module by NCFM (NSE's CERTIFICATION IN
FINANCIAL MARKETS)