SMC Global Weekly News Letter (Wisemoney)

WISE M NEY

soaring market,soaring you.

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73

2014: Issue 449, Week: 17th - 20th NovemberA Weekly Update from SMC

(For private circulation only)

Contents

Equity 4-7

Derivatives 8-9

Commodity 10-13

Currency 14

IPO 15

Fixed Deposit 16

Mutual Fund 17-18

EDITORIAL STAFF

Editor Saurabh Jain

Executive Editor Jagannadham Thunuguntla

+Editorial Team

Dr. R.P. Singh Nitin Murarka

Vandana Bharti Sandeep Joon

Dinesh Joshi Vineet Sood

Shitij Gandhi Dhirender Singh Bisht

Subhranil Dey Parminder Chauhan

Ajay Lakra Mudit Goyal

Content Editor Kamla Devi

Graphic Designer Pramod Chhimwal

Research Executive Sonia Bamba

REGISTERED OFFICES:

11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.

Tel: 91-11-30111000, Fax: 91-11-25754365

MUMBAI OFFICE:

Dheeraj Sagar, 1st Floor, Opp. Goregaon sports Club, Link Road

Malad (West), Mumbai 400064

Tel: 91-22-67341600, Fax: 91-22-28805606

KOLKATA OFFICE:

18,Rabindra Sarani, Poddar Court, Gate No-4,

5th Floor, Kolkata-700001

Tel : 91-33-39847000 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 : [email protected]

[email protected]

Printed and Published on behalf of

Mr. Saurabh Jain @ Publication Address

11/6B, Shanti Chamber, Pusa Road, New Delhi-110005

Website: www.smcindiaonline.com

Investor Grievance : [email protected]

Printed at: S&S MARKETING

102, Mahavirji Complex LSC-3, Rishabh Vihar, New Delhi - 110092 (India)

Ph.: +91-11- 43035012, 43035014, Email: [email protected]

tock markets globally continue to remain on firm footing despite some mild

corrections on their course to gains. Some volatility is seen in the markets as Straders got conscious over the huge gains locked in short span after after more

easing offered by European Central Bank, Bank of Japan and China Central Bank.

Metal prices are cooling off as Chinese economic data continues to depict the

slowdown and risks have once again emerged for deflation in Europe. Japanese

economy is expected to see an expansion at a pace of annualized 2.2% after seeing a

contraction of 7.1% in the prior period. There are expectations that the sales tax

increase halted to be implemented by October 2015 would get delayed if prime

minister Shinzo Abe calls for an election in the lower house to gain more majority. It is

expected that the Oil Producing and Exporting Countries (OPEC) is unlikely to cut

production of Crude despite the prices have entered into bear market.

Back at home, on Wednesday, both Sensex and Nifty touched their highs with

sustained buying by foreign funds in auto, banking, FMCG and consumer durable

stocks. Since the beginning of the week, the market is continuously making its efforts

to move upwards. This rally was on the back of the announcement of reform measures

such as diesel decontrol, announcement of the opening up of the coal sector and

easing norms for foreign direct investment in the construction sector. Besides these

factors, Foreign Portfolio Investors (FPIs) have been main driving force behind the

current bull-run. Even the domestic rupee gained on Wednesday due to heavy foreign

fund buying of debt and equities. On the data front, as expected IIP number for the

September month came surprisingly positive at 2.5% as against 0.4% in August 2014.

Wholesale Price Index (WPI) too fell to five years low of 1.77% in October versus 2.38%

in prior month. Reserve Bank of India would review the monetary policy on 2nd

December. Considering the inflation trajectory which is lowering way below its earlier

perceived and the fall in commodity prices especially crude, expectations have been

built in the markets for soft stance from RBI and resultantly earlier cut in interest

rates. Recently Prime Minister Modi expanded its cabinet by including Mohan parrikar

as defense minister and Suresh Prabhu as Minister of Railways to expedite the growth

and attract investments. The next big event from a political stand point is the winter

session of parliament and FII's Inflow.

On the commodity front, it was another weak week. Oil sank into a bear market last

month as leading OPEC members resisted calls to cut production and instead reduced

export prices to the U.S. It breached $75 mark in NYMEX. Crude oil may continue to

melt lower due to global supply glut and rising greenback. OPEC meeting which is

scheduled on Nov. 27 in Vienna may give some direction to the crude prices. Gold can

trade sideways with weak bias as stunning rally in greenback and drop in SPDR holdings

coupled with fear of interest rates hike in US may keep the prices on weaker path.

Gold can move in range of 24400-26000 while silver can move in range of 31000-36500.

The Oil Producing and Exporting Countries (OPEC) is scheduled to meet on Nov. 27 in

Vienna. Recently weaker than expected Chinese manufacturing stoked speculation

that slowing global growth will temper demand. GDP of Japan, CPI of UK, German ZEW

Survey, Fed Releases Minutes from Oct. 28-29 FOMC Meeting, CPI of US and Canada etc

are some events which may affect commodities prices.

From The Desk Of Editor

(Saurabh Jain)

SMC Global Securities Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a further public offering of its equity shares and has filed the Draft Red Herring Prospectus with the

Securities and Exchange Board of India (“SEBI”) and the Stock Exchanges. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and on the websites of the Book Running Lead Manager i.e., ICICI

Securities Limited at www.icicisecurities.com and the Co- Book Running Lead Manager i.e., Elara Capital (India) Private Limited at www.elaracapital.com . Investors should note that investment in equity shares involves a high degree

of risk and for details relating to the same, please see the section titled “Risk Factors” of the aforementioned offer document.

NEWS

DOMESTIC NEWSEconomy•Indian government has raised the excise duty on petrol and diesel by ̀ 1.50

a litre to to mop up additional revenue of about ̀ 13,000 crore. •India's Finance Ministry has extended a government cash assistance of

`6,000 crores to oil. This is for the fiscal year 2014-15.•India's Consumer-Price Index (CPI) based inflation rose to 5.52% in October

compared to the same period last year, its lowest rate since the government started releasing the data in February 2012.

•India's industrial production grew at three-month high of 2.5% in September, mainly on account of better mining and manufacturing output and larger offtake of capital goods.

•India's Wholesale Price Index (WPI) inflation for the month of October dipped to five year-low of 1.77% versus 2.38% in September. August WPI inflation was revised to 3.85% versus a provisional 3.74% earlier.

•The Coal Ministry has said that state-owned Coal India (CIL) has signed 161 fuel supply agreements (FSAs) for a capacity of 73,675 MW.

•According to Morgan Stanley forecasts of global economies, India would have the fastest economic expansion among Asian countries and its gross domestic product is expected to grow by 6.3 per cent in 2015.

Edible Oil•Ruchi Soya Industries Ltd has divested its majority stake (50.001 per cent)

in a Hyderabad-based subsidiary Gemini Edibles and Fats India (GEFI) to Singapore based Golden Agri International India Holding Pte Ltd at a total consideration of $17.88 million (`109.92 crore).

Infrastructure•Reliance Infrastructure announced the cancellation of Mumbai's Metro

Line 2 project citing non-fulfilment of certain obligations by the Maharashtra government.

Metal & Mining•Jindal Steel and Power is likely to list its Oman-based wholly-owned

subsidiary Shadeed Iron and Steel LLC in Muscat Securities Market for raising around $500 million.

•Sesa Sterlite would invest $782 million over a three-year period in southern Africa to tap the region's large undeveloped deposits of the metal and offset a fall in production volume from its mine in Ireland.

Power•Reliance Power has commissioned its 100-megawatt concentrated solar

power (CSP) project at Jaisalmer, Rajasthan, by successfully synchronising the grid and power generation. The company has invested ̀ 2,100 crores in the plant, which is world's largest CSP project based on compact linear Fresnel reflector (CLFR) technology, provided by Areva Solar - the US subsidiary of Areva SA of France.

Media & Entertainment•Eros International Media Limited has acquired the worldwide rights of the

movie Lingaa, starring superstar Rajnikanth and directed by K S Ravikumar. Eros will release Lingaa worldwide in Tamil, Telugu and Hindi amongst other languages this December.

•DQ Entertainment International launched two YouTube channels as part of its new digital media strategy. The channels - "Power Kids" and "Tiny Toonz" - are created in association with a leading multi-channel network ('MCN'), Whacked Out! Media ('WOM').

Information Technology•Wipro has bagged a $143 million 5-year outsourcing deal from Levi Strauss

as the US-based denim apparel maker looks to cut 500 jobs in a restructuring exercise.

INTERNATIONAL NEWS•US wholesale inventories edged up by 0.3 percent in September following

a downwardly revised 0.6 percent increase in August. Economists had been expecting wholesale inventories to inch up by 0.2 percent compared to the 0.7 percent growth originally reported for the previous month.

•US initial jobless claims climbed to 290,000, an increase of 12,000 from the previous week's unrevised level of 278,000. Economists had expected claims to tick up to 280,000. With the bigger than expected increase, jobless claims rose to their highest level since hitting 295,000 in the week ended September 20th.

•US non-farm payroll employment rose by 214,000 jobs in October compared to economist estimates for an increase of about 235,000 jobs. At the same time, revised data said employment climbed by 256,000 jobs in September and by 203,000 jobs in August, reflecting a net upward revision of 31,000 jobs.

•Japan's industrial production recovered by 2.9 percent month-over-month in September, which was faster than the 2.7 percent growth estimated earlier. In August, production had decreased 1.9 percent.

•China's industrial production rose 7.7 percent year-over-year in October following the 8 percent growth in September. Economists had expected production to rise at the stable rate of 8 percent.

Meeting Date Symbol Purpose

17-Nov-14 NITINFIRE Allotment of Securities

18-Nov-14 GAMMNINFRA Results

25-Nov-14 AUTOAXLES Results/Dividend

25-Nov-14 SIEMENS Results/Dividend

26-Nov-14 MRF Results/Dividend

27-Nov-14 NELCO Results/Dividend

EX-DATE SYMBOL PURPOSE

17-NOV-14 NOIDATOLL INTERIM DIVIDEND - RE 1/- PER SHARE

17-NOV-14 WELSPUNIND INTERIM DIVIDEND - RS 3/- PER SHARE

17-NOV-14 SUNDRMFAST INTERIM DIVIDEND RE.0.85 PER SHARE

17-NOV-14 LGBBROSLTD INTERIM DIVIDEND - RS 3.20/- PER SHARE

17-NOV-14 BLUEDART SCHEME OF ARRANGEMENT - ISSUE OF BONUS DEBENTURES

17-NOV-14 PAGEIND 2ND INTERIM DIVIDEND

18-NOV-14 FRL RIGHTS 5:8 @ PREMIUM RS.101/- PER EQUITY SHARE

18-NOV-14 FRLDVR RIGHTS 5:8 @ PREMIUM RS.101/- PER EQUITY SHARE

19-NOV-14 AARTIDRUGS INTERIM DIVIDEND

19-NOV-14 MONSANTO INTERIM DIVIDEND - RS 18/- PER SHARE

19-NOV-14 RAIN INTERIM DIVIDEND RE.1/- PER SHARE

20-NOV-14 FINANTECH INTERIM DIVIDEND

20-NOV-14 TIMKEN INTERIM DIVIDEND - RS 3/- PER SHARE

20-NOV-14 SBIN FACE VALUE SPLIT RS.10/- TO RE.1/- PER SHARE

20-NOV-14 FOSECOIND THIRD INTERIM DIVIDEND

20-NOV-14 GABRIEL INTERIM DIVIDEND - RE 0.45/- PER SHARE

25-NOV-14 INGERRAND INTERIM DIVIDEND - RS 3/- PER SHARE

FORTHCOMING EVENTS

NOTES:

1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name

of "Morning Mantra ".

2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength

coming into the stock. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and

taking a long-term view and not a short-term view.

TREND SHEET

Stocks *Closing Trend Date Rate SUPPORT RESISTANCE Closing

Price Trend Trend

Changed Changed

SENSEX 28046 UP 12.09.13 19317 26400 26050

S&P NIFTY 8389 UP 12.09.13 5728 7950 7780

CNX IT 11571 UP 07.11.14 11476 11000 10800

CNX BANK 17576 UP 08.03.14 11278 16300 16000

ACC 1511 UP 31.10.14 1499 1430 1410

BHARTIAIRTEL* 388 UP 24.07.14 355 - 380

BHEL 246 UP 17.10.14 227 230 220

CIPLA* 609 UP 12.06.14 416 - 600

DLF 142 DOWN 31.07.14 198 - 145

HINDALCO 157 UP 31.10.14 164 152 145

ICICI BANK 1692 UP 08.03.14 1134 1560 1540

INFOSYS 4192 UP 19.06.14 3312 3900 3800

ITC 369 UP 10.07.14 342 355 350

L&T 1622 UP 31.10.14 1655 1570 1540

MARUTI 3330 UP 19.09.13 1480 3100 3000

NTPC 143 DOWN 17.07.14 150 145 150

ONGC 393 DOWN 17.10.14 397 420 430

RELIANCE 969 UP 31.10.14 1001 960 940

TATASTEEL 478 DOWN 27.08.14 513 485 500

S/l

4

®

Closing Price as on 14.11.14*BHARTIARTL has broken the support of 390 levels*CIPLA has broken the support of 620 levels*DLF has breached the resistance of 130 levels

BSE SENSEX GAINERS & LOSERS TOP (% Change) NSE NIFTY GAINERS TOP & LOSERS (% Change)

SECTORAL INDICES (% Change)

SMC Trend

SMC Trend

FMCGHealthcare

FTSE 100CAC 40

Auto BankRealty

Cap GoodsCons Durable

Oil & GasPower

NasdaqDow jonesS&P 500

NikkeiStrait times

Hang SengShanghai

ITMetal

Down SidewaysUp

GLOBAL INDICES (% Change)

INDIAN INDICES (% Change)

5

®

SMC Trend

Nifty BSE Midcap S&P CNX 500BSE SmallcapSensex Nifty Junior

2975.64

-110.20

381.61604.92

456.53

36.30

-78.80 -18.40-500.00

0.00

500.00

1000.00

1500.00

2000.00

2500.00

3000.00

3500.00

Friday Monday Tuesday Wednesday Thursday

FII / FPI Activity MF Activity

3.903.61 3.57

2.76 2.66

-5.82 -5.70

-4.70-4.31 -4.12

-8.00

-6.00

-4.00

-2.00

0.00

2.00

4.00

6.00

Bank of Baroda

DLF ITC Bajaj Auto H D F C O N G C Jindal Steel Cairn India Sesa Sterlite NMDC

3.54

2.68 2.39 2.321.91

-5.82

-4.20 -4.07

-2.79 -2.63

-8.00

-6.00

-4.00

-2.00

0.00

2.00

4.00

6.00

ITC Bajaj Auto H D F C Dr Reddy's Labs

HDFC Bank O N G C Sesa Sterlite Cipla Tata Power Co.

Hindalco Inds.

0.25 0.26

1.02

0.38

1.51

0.49

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

Nifty Sensex BSE Midcap BSE Smallcap

Nifty Junior S&P CNX 500

1.12

0.61 0.70

3.07

0.93

0.44

-0.92

-1.89

-2.98

-1.03

-0.68

-4.00

-3.00

-2.00

-1.00

0.00

1.00

2.00

3.00

4.00

Auto Index Bankex Cap Goods Index

Cons Durable Index

FMCG Index Healthcare Index

IT Index Metal Index Oil & Gas Index

Power Index Realty Index

1.03

0.450.36

3.04

0.56

1.99

2.79

1.04

-0.05

-0.50

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp.

FTSE 100 CAC 40

INSTITUTIONAL ACTIVITY (Equity) (` Crore)

Investment Rationale •The company has to increase the provisioning on •Power Finance Corporation (PFC) is engaged in restructured advances of `3059 crore due to

funding of various power projects in generation, payment problem to 2.75% by end March 2015 and transmission, and distribution sectors. The public gradually to 5% by March 2018. sector firm is looking for consultants for monitoring •The company has huge exposure in the private the ongoing electricity generation and transmission sector mining companies, and coal block stations and for facilitating the removal of cancelation by the supreme court was a big set bottlenecks in project completion. back. But the coal ordinance passed by the cabinate

•Net Interest Income increased by 18% to `2,492 and approved by the president is a big relief for the crores during the the quarter ended September company, as it has allowed companies whose license 2014 from `2,119 crores during the the quarter were canceled to participate in the e-auction by ended September 2013. paying the addition levy.

•During the quarter ended September 2014, loan ValuationSanctions increased by 88% to `22,673 crores and The company expect that its surplus scenario is likely Outstanding sanctions of the company (excluding to continue for the next three years, will keep its R-APDRP) stoods at `165206 crore at end growth story in the coming quarters also, we expect

the stock to see a price target of `382 in one year September 2014, the company holds a strong business pipeline for next few years. The company time frame on a current P/BV of 1.35x and FY16 (E) has targeted the sanctions of `55000 crore for BVPS of ̀ 282.6.FY2015.

•Disbursement of the company (excluding R-APDRP) declined 14% to `8361 crore in Q2FY2015. The company has targeted the disbursements placed at `44000 crore for FY2015.

•Loan assets of the company stood at ̀ 199299 crore, disbursement of the company stood at ̀ 8361 crore during the quarter ended September 2014

•Capital Adequacy Ratio has improved to 21.1% at end September 2014 as compared to 17.87% a year earlier and 20.55% a quarter earlier.

•As of September 30, 2014, the company's NPAs (Non-Pperforming Assets) as a percentage of loan assets stood at 0.77 per cent.

Face Value (`) 10.00

52 Week High/Low 344.20/129.00

M.Cap (`Cr.) 37244.95

EPS (`) 41.38

P/E Ratio (times) 6.82

P/B Ratio (times) 1.35

Stock Exchange BSE

Investment Rationale provider in non metro cities.•D B Corp Ltd. is engaged in printing and •The company continues to build on its strengths to

publication of Newspaper in four languages across capitalize on the potential offered by Phase 3 14 states, in Radio Business with "My FM" Radio implementation through healthy prospective station in 7 states and 17 cities along with strong delta in its existing print markets with an avenue web presence in India. of almost 100 new radio stations.

•Company's plans Capex to be around ̀ 40 crore for •Advertisement rate hike was initiated in June FY15. Upgradation capex in major cities have 2014 quarter and the results of the same would been done. No major capex is expected in near to reflect in coming quarters. So far in third quarter, medium term for existing facilities. advertisement growth has been encouraging and

corporates are spending in festive season. •Circulation growth was primarily driven by realization improvement of around 12%. Number of Valuationcopies grew around 3.3% in September 2014 quarter. Macro outlook improved, current outlook reflects There is a further scope for realization improvement. economic stability and the management feels that it

•The company is progressing well in Bihar, is well placed to capitalize on growth opportunity. Jharkhand and Maharashtra. The company is The company is hoping for good volume growth due to looking at Maharashtra very closely and exploring festive seasons. And if the government continues to opportunity beyond Mumbai, Pune and Nagpur. announce reforms, volumes would increase, we

expect the stock to see a price target of `436 in one •Its core markets tier II and tier III cities year time frame on a three year average P/E of (population less than 4 million) is witnessing 19.18x and FY16 (E) earnings of ̀ 22.71.exponential growth in internet users – leading to

greater traction across all DB Digital properties. •The company has earmarked `30 crore for the

upcoming phase III auctions, this will help the company to expand the business size exponentially. Ongoing positive developments regarding airing of news by FM operators and future possibility of sourcing content from other sources for airing news shall augur well for the company, given its presence in print media. Majority of the radio licenses should come up for renewals in the next 2-3 years.

•The company has been outperforming the radio industry from last couple of years. Radio business vision is to become most admired fm radio

Face Value (`) 10.00

52 Week High/Low 393.25/260.00

M.Cap (`Cr.) 6509.55

EPS (`) 17.30

P/E Ratio (times) 20.50

P/B Ratio (times) 5.68

Dividend Yield (%) 2.04

Stock Exchange BSE

` in cr

% OF SHARE HOLDING

P/E Chart

DB CORP LIMITED CMP: 354.55 Upside: 23%Target Price: 436

VALUE PARAMETERS

VALUE PARAMETERS

% OF SHARE HOLDING

POWER FINANCE CORPORATION LIMITED CMP: 282.15 Upside: 35%Target Price: 382

P/B Chart

` in cr

Beat the street - Fundamental Analysis

Above calls are recommended with a time horizon of 1 year. Source: Company Website Reuters Capitaline

6

®

Actual Estimate

FY Mar-14 FY Mar-15 FY Mar-16

Revenue 1,830.60 2,072.10 2,355.20

EBITDA 500.30 586.30 687.80

EBIT 436.00 511.60 602.50

Pre-tax Profit 452.40 524.50 631.50

Net Profit 306.60 346.60 416.20

EPS 16.70 18.80 22.71

BVPS 62.20 72.53 84.58

ROE 28.20 27.70 29.10

Actual Estimate FY Mar-14 FY Mar-15 FY Mar-16

Net Total Income 7,224.40 9,881.60 10,792.70

EBIT 7,609.70 9,009.40 10,274.50

Pre-tax Profit 7,624.40 8,630.60 9,608.10

Net Income 5,461.80 6,219.70 6,936.70

EPS 41.38 46.99 51.18

BVPS 208.50 242.25 282.60

ROE 21.30 21.30 19.50

11.869.62

2.89

72.8

2.84 Foreign

Institutions

Non Promoter Corporate Holding

Promoters

Public & Others

18.3

7.78

2.6769.99

1.27 Foreign

Institutions

Non Promoter Corporate Holding

Promoters

Public & Others

Charts by Spider Software India Ltd

7

The stock closed at `490.00 on 14th November 2014. It made a 52-week low at

`210.10 on 14th February 2014 and a 52-week high at ̀ 585 on 16th May 2014. The

200 days Exponential Moving Average (EMA) of the stock on the daily chart is

currently at ̀ 418.14.

After a breakout from Inverted head and shoulder formation, it finally gave a

pause near 550 levels and continued to stay in a sideways movement. Looking at

the chart, it is clear that there is still upside left in the near term. So, one can

buy in the range of 487-490 for the upside target of 525-535 with closing below SL

of 464.

EQUITY

Above calls are recommended with a time horizon of 1-2 months

The stock closed at `157.30 on 14th November 2014. It made a 52-week low at

`96.70 on 24th February 2014 and a 52-week high at Rs 198.90 on 25thJuly 2014.

The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart

is currently at ̀ 151.12.

After a drastic fall finally it gave a rebound in last few weeks with rise in volumes

which shows its potential to move northwards in the near term. So, one can buy

in the range of 153-154 for the upside target of 170-175 with closing below SL of

144.

The stock closed at 71.70 on 14th November 2014. It made a 52-week low at

`52.90 on 30th January 2013 and a 52-week high of ̀ 116.40 on 09th June 2014.

The 200 days Exponential Moving Average (EMA) of the stock on the weekly chart

is currently at ̀ 76.03

After making low of 60 levels, it rebounded sharply and covered most of its lost

value. It is in consolidation period in last few weeks, which suggest that it will

move on the upside in the near term. So, one can buy in the range of 68-69 for

the upside target of 78-79 with closing below SL of 64.50.

`

ADANIENT

IDBI

HINDALCO

®

DERIVATIVES

CHANGE IN NIFTY OPTION OI (IN QTY)

WEEKLY VIEW OF THE MARKET

NIFTY OPTION OI CONCENTRATION (IN QTY)

CHANGE IN BANKNIFTY OPTION OI (IN QTY)BANKNIFTY OPTION OI CONCENTRATION (IN QTY)

®

ADANIENT (NOV FUTURE)

Buy: Above `494

Target: `512

Stop loss: `486

TVSMOTOR

Buy NOV 240. PUT 5.50

Sell NOV 230. PUT 2.50

Lot size: 1000

BEP: 237.00

Max. Profit: 7000.00 (7.00*1000)

Max. Loss: 3000.00 (3.00*1000)

OPTIONSTRATEGY

FUTURE

HINDALCO

Buy NOV 160. CALL 3.65

Sell NOV 165. CALL 1.85

Lot size: 2000

BEP: 161.80

Max. Profit: 6400.00(3.20*2000)

Max. Loss: 3600.00 ( 1.80*2000)

TCS

Buy NOV 2600. CALL 42.00

Sell NOV 2650. CALL 22.00

Lot size: 125

BEP: 2620.00

Max. Profit: 7200.00 (30.00*125)

Max. Loss: 2800.00 (20.00*125)

BULLISH STRATEGY

DERIVATIVE STRATEGIES

HAVELLS (NOV FUTURE)

Buy: Above `312

Target: `321

Stop loss: `308

DIVISLAB (NOV FUTURE)

Sell: Below `1710

Target: `1640

Stop loss: `1745

BEARISH STRATEGY

In 10000 In 10000

Index traded sideways with positive bias throughout the week. Overall market cost-of-carry increased on the back of addition in open interest on the

long side indicating long buildup from current level. The month of November began with good rollover with positive cost of carry indicating long carry

forward. The scenario in the market currently remains bullish. Nifty November futures closed with 25 points premium. Hereafter, the range of 8300-

8500 will remain crucial in the near term. Breach below the 8300 mark could see the Index declining sharply to 8100 levels. Put-call ratio of open

interest closed at 1.25 indicating put writing. Options open interest concentration shifted to the 8300 strike put option with open interest of above 50

lakh shares. The 8500 call-option strikes have maximum IO of more than 55 lakh shares. The implied volatility (IV) of call options closed at 11.93%. While

the average IV of put options was 11.12%. Short term indicators are indicating upside momentum to continue above 8350. It is likely to hover in the

range of 8300-8500 levels for the week. The Index is likely to test the 8500 mark.

Call Put

2.2

5

1.8

3

3.6

9

5.6

3

14

.80

10

.42

14

.54

25

.09

54

.25

58

.45

46

.59

17

.35

19

.46

21

.13

19

.02

51

.87

45

.33 52

.09

53

.40

28

.14

10

.85

1.8

2

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

7500 7700 7800 7900 8000 8100 8200 8300 8400 8500 8600

Call Put

0.0

0

- 0.0

7

- 0.2

2

- 0.5

0

- 1.5

6

- 2.0

4

- 2.7

6

- 6.4

2

9.8

4

13

.61

15

.15

- 1.7

8

- 1.7

7

-6.1

6 - 3.0

3

- 6.0

6

5.2

6

4.9

4

17

.99

9.1

1

- 1.2

3

0.3

4

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

7500 7700 7800 7900 8000 8100 8200 8300 8400 8500 8600

Call Put

1.3

8 5.1

1

6.3

6

1.9

0

1.8

9

17

.38

2.1

9

2.6

7

32

.80

11

.28

47

.32

11

.90

45

.24

44

.83

12

.24 16

.99

52

.35

13

.60

11

.25

18

.55

2.3

2

1.8

9

0.00

10.00

20.00

30.00

40.00

50.00

60.00

15500 16000 16500 16700 16800 17000 17200 17300 17500 17700 18000

Call Put

- 0.4

3

- 1.2

1

- 0.6

9

-

0.36

-0.3

9

- 3.5

2 - 1.2

2

- 0.4

8

1.36

7.5

5

16

.36

- 6.9

0 - 4.2

2

- 4.5

9

4.1

7

3.7

6

21

.39

5.9

4

6.2

2

13

.62

2.2

3

0.3

5

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

25.00

15500 16000 16500 16700 16800 17000 17200 17300 17500 17700 18000

8

In lakhsIn lakhs

9

DERIVATIVES

®

FII’s ACTIVITY IN DERIVATIVE SEGMENT

SENTIMENT INDICATOR (NIFTY)

13-Nov 12-Nov 11-Nov 10-Nov 07-Nov

Discount/Premium 22.25 35.50 33.20 35.25 44.65

PCR(OI) 1.25 1.37 1.33 1.33 1.29

PCR(VOL) 1.06 1.04 1.08 1.04 1.13

A/D RATIO(Nifty 50) 0.56 0.85 1.17 1.00 0.79

A/D RATIO(All FO Stock)* 0.46 0.85 1.73 0.64 0.84

Implied Volatality 11.93 12.21 12.34 12.47 12.45

VIX 13.80 14.44 14.80 13.93 13.93

HISTORY. VOL 14.94 15.25 15.67 16.13 16.64

*All Future Stock

SENTIMENT INDICATOR (BANKNIFTY)

13-Nov 12-Nov 11-Nov 10-Nov 07-Nov

Discount/Premium 75.60 93.10 111.55 100.40 110.50

PCR(OI) 1.78 2.19 1.74 1.64 1.77

PCR(VOL) 1.19 1.41 1.07 1.28 1.50

A/D RATIO(BANKNIFTY) 0.09 2.67 5.00 0.33 2.00

# #A/D RATIO 0.05 1.00 9.50 0.31 0.75

Implied Volatality 17.99 39.59 38.54 38.24 18.59

HISTORY. VOL 22.81 23.16 23.38 23.81 24.41

*All Future Stock

FII’S ACTIVITY IN NIFTY FUTURE

In Cr. In Cr.

Top 10 long build up

LTP % Price Change Open interest %OI Chng

ADANIPORTS 295.3 0.32% 8328000 19.76%

UNIONBANK 216.1 0.07% 8343000 15.59%

HAVELLS 301.8 4.00% 4231250 11.90%

KTKBANK 135.05 3.25% 19448000 9.68%

UPL 359.45 7.51% 8490000 6.55%

EICHERMOT 13241.15 3.71% 117125 6.48%

DISHTV 61.75 4.13% 26448000 5.74%

SYNDIBANK 126.8 1.04% 11788000 5.44%

JUBLFOOD 1418 10.11% 1984500 5.14%

HCLTECH 1647.65 1.51% 2997250 5.07%

Top 10 short build up

LTP % Price Change Open interest %OI Chng

CIPLA 626.5 -4.26% 6505000 23.15%

BPCL 731.25 -3.93% 3409500 20.01%

SAIL 79.75 -3.04% 40504000 18.70%

JISLJALEQS 82.3 -2.37% 36328000 18.39%

UBL 698.6 -0.72% 449750 16.97%

SBIN 2732.5 -0.96% 5993375 15.50%

RECLTD 300.45 -1.28% 7092000 14.72%

APOLLOHOSP 1124.4 -3.93% 338750 14.44%

ARVIND 279.1 -7.01% 12318000 12.71%

MCLEODRUSS 245.9 -3.07% 3339000 12.42%

**The highest call open interest acts as resistance and highest put open interest acts as support.# Price rise with rise in open interest suggests long buildup | Price fall with rise in open interest suggests short buildup # Price fall with fall in open interest suggests long unwinding | Price rise with fall in open interest suggests short covering

## All BANKING Stock

59

2.1

5

12

86

.49

14

85

.22

16

3.5

7

72

1.7

3

33

2.4

4

- 88

.52

- 34

7.6

2

17

9.6

8

-500.00

0.00

500.00

1000.00

1500.00

2000.00

29-Oct 30-Oct 31-Oct 03-Nov 05-Nov 07-Nov 10-Nov 11-Nov 12-Nov 13

- 39

4.9

0

-

Nov

39

53

.28

57

70

.35

36

25

.37

13

4.3

7

92

5.0

4

- 43

.84

19

24

.06

- 47

.30

-2000.00

-1000.00

0.00

1000.00

2000.00

3000.00

4000.00

5000.00

6000.00

7000.00

29-Oct 30-Oct 31-Oct 03-Nov 05-Nov 07-Nov 10

- 10

84

.55

-Nov 11

- 12

13

.40

-Nov 12-Nov 13-Nov

Jeera futures (Dec) may witness some profit booking from higher levels, facing resistance near 12500 levels. However, any large downside may remain capped supported by strong demand amid sowing worries as the area may shift to Coriander and Fenugreek seed. The crop has entered into the last stage of sowing & the overall area under sowing may be getting lesser by 20-30%. Turmeric futures (Dec) will possibly consolidate in the range of 6200-6550 levels. The counter may bounce on the back of lower carryover stocks with stockist & weak production estimates. The total stocks are projected at 45 lakh bags till January 2015 & new production this season is likely to be around 45 lakh bags, down 25 lakh bags from the last year. The fresh arrivals might hit the spot markets from February onwards & till then there would be a tight availability. In the current scenario, the arrivals are lower in Erode and Nizamabad due to lack of availability. Cardamom futures (Dec) is expected to trade in the range of 850-890 levels. At the spot market, quality material is arriving in good volume, constituting high percentage of 8 mm capsules & attracting exporters to cover their demand. The individual auction average price has moved up between ̀ 730 and ̀ 780. Total arrivals during the season stood 6,134 tonnes against 7,103 tonnes during the same period last year. The sales were at 6,023 tonnes and 6,851 tonnes respectively. The bullish momentum may continue to persist in coriander futures (Dec) taking support above 12300 levels. The upside may get extended towards 13100 levels surpassing 12800 levels. This season there are expectations of a lower stock position, as well as lower production.

SPICES

Gold can trade sideways with a weak bias as stunning rally in green back and drop in SPDR holdings coupled with fear of interest rate hike in US may keep the prices on weaker path. However, weaker local currency rupee has capped the downside in domestic bourses. Gold can move in the range of 24400-26000 while silver can move in the range of 31000-36500. Gold is heading for the first consecutive annual loss since 2000 as oil prices at a four-year low eroded demand for an inflation hedge, and the Federal Reserve moves closer to the first rate increase since 2006. According to the World Gold Council” Global demand slid 2.5 percent in the third quarter from a year earlier to the lowest level since 2009”. The sharp plunge in oil prices has also reduced gold appeal as an inflation hedge. India once again took over as the world's biggest gold consumer, buying 225.1 tonnes of gold jewelry, coins and bars last quarter, compared to 182.7 tonnes in China. The sharp increase in gold consumption in Q3 is largely due to the relaxation of gold import rules from the Reserve Bank of India (RBI). The RBI had introduced the 80:20 schemes in August last year, allowing nominated agencies to import gold on the condition that 20% of these imports should be exported. According to World Gold Council” Russia purchased 55 metric tons of gold in the third quarter of 2014 to strengthen its Central Bank”. The fall of the ruble, economic sanctions against Russia by the United States and the European Union and the fall in price of Russia's biggest exports, oil and gas, have sparked an economic crisis in Russia.

BULLIONS

10

The base metal counter is expected to move on a volatile path in the near term. Recently weaker than expected Chinese manufacturing stoked speculation that slowing global growth will temper demand. Freeport-McMoRan Inc., the largest publicly traded producer, shut its smelter in Miami, Arizona, after molten copper spilled, causing fires at the plant. Copper may move in the range of 396-425. China copper imports are set to plunge 25 per cent next year as the fallout from a financing scandal in the port city of Qingdao tightens access to bank credit in the world's largest consumer of the metal. World production of refined copper is expected to exceed demand by 390,000 tonnes, against a previous forecast of 595,000 tonnes. U.S. copper premiums for 2015 are not likely to change much from this year's term, as demand in China, the world's No. 1 end user, slacken and supplies increase. While Zinc moved in the range of 134-143. Nickel prices may move in the range of 910-1000 in MCX. The proposed labor strike at Colombia is supporting the price level of Nickel as the strike may give rise to some supply issues in the short term. China's nickel production is expected to fall 10 percent in 2015 to about 610,000 tonnes due to lower supplies of laterite nickel ores. Aluminum may move in the range of 121-130. Overcapacity in the Asian flat rolled aluminum market may last for several more years, hurting prices and forcing producers to sell more material further. Meanwhile, lead can move in the range of 120-130 in MCX.

®

BASE METALS

Crude oil may continue to melt lower due to the global supply glut and rising greenback. Recently Brent crude oil extended losses to the lowest in four years amid signs that OPEC remains unwilling to reduce output to ease a supply glut. Crude oil can plunge lower towards $70 in NYMEX and 4300 in MCX. Slumping oil prices reflect a growing consensus among traders and investors that OPEC will maintain output. Oil sank into a bear market last month as leading OPEC members resisted calls to cut production and instead reduced export prices to the U.S., where output has climbed to the highest level in more than three decades. Venezuela, Libya and Ecuador have asked for action to prevent crude from falling further. The group is scheduled to meet Nov. 27 in Vienna. Saudi Arabia's production slid 69,900 barrels a day to a seven-month low of 9.603 million in October. OPEC the 12-member group, which supplies about 40 percent of the world's oil, pumped 30.253 million barrels a day. According to EIA, the Energy Department's statistical arm “Crude supplies at Cushing climbed 1.7 million barrels to 22.5 million last week”. Natural gas prices may tad lower on the warmer weather forecast. Overall, it can move in the range of 230-260 in MCX. Producers and utilities have rebuilt stored gas inventories that were depleted by last year's severe winter, with stockpiles now standing at nearly 3.6 trillion cubic feet. Blasts of cold air trekking across the US should give way to milder temperatures in the coming days, which should curb demand for heating.

ENERGY COMPLEX

Soybean futures (Dec) is expected to witness a consolidation in the range of 3200-3400 levels. Looking at the current scenario & anticipating a further fall in oilmeal prices, the crushing units have started selling to foreign buyers via forward contracts, for delivery after December as there are expectations that the availability of seeds would rise further following the kharif crop harvest. There is preference of the soy meal of Indian origin mainly by the South-East countries due to logistic and freight advantage and demand for non-GMO meal will continue to lend support to the domestic soy meal. On CBOT, U.S soybean futures may remain firm on account of slow farmer sales and robust export demand. As cited by the U.S Department of Agriculture, the U.S. soybean exports for 2014/15 are raised 20 million bushels to 1,720 million reflecting the record pace of export sales through late October. Mustard futures (Dec) is likely to rise towards 4000 levels, pushed up by receding stocks in local mandies. It is estimated that there is around 10 lakh bags of mustard seed in the spot markets, down by 4-5 lakh bags as compared to the last year. The demand for mustard oil from the stockist may emerge in the days to come as palm oil usually solidifies during winter. Moreover, the crush parity in mustard seed has now turned positive for the first time in recent months. CPO futures (Dec) would possibly trade in the range of 445-465 levels. The market participants may remain cautious as India's food ministry wants to double the import tax on crude edible oils and raise that on refined oils by 50%, but is waiting for other ministries to give their views before passing its recommendation to the cabinet.

OIL AND OILSEEDS

OTHER COMMODITIES

Kapas futures (Apr) is likely to continue its multi-week consolidation in the range of 775-800 levels. The Cotton Association of India has estimated the total cotton supply at 477.40 lakh bales while domestic consumption is estimated at 306.00 lakh bales, thus leaving an available surplus of 171.40 lakh bales. At the spot markets, there is demand from millers in the North Indian market to fulfill their immediate requirement. On the supply side, the farmers are not getting interested to dell their produce at the current lower price. The Government has asked the Cotton Corporation of India (CCI) to step up its procurement of raw cotton at the minimum support price (MSP) to prevent distress sales. Chana futures (Dec) is expected to trade in the range of 3150-3300 levels with a firm tone owing to prevailing concerns about the lower sowing area in this Rabi season. According to Rajasthan Agriculture Department, the sowing in pulses till 11th November has been down by 5% as compared to the same time during the last year. On the other hand, there is disparity of `81 per quintal for importing of chickpea from Australia, which may slow down the import of chickpea from Australia to India. Sugar futures (Dec) might trade with a bearish bias facing resistance at 2810 levels. It is reported that Govt. has decided that there is no plan to provide any subsidy for sugar exports. At the spot markets, there are ample supplies & the bulk buyers are staying away from placing fresh orders. To start of the new crushing season, the producers are eager to sell old inventories to stock the new ones. The Vashi market continuously carries 115-120 truckloads of stock.

11

TECHNICAL RECOMMENDATIONS

COMMODITY

COPPER MCX (NOVEMBER) contract closed at `407.10 on 13th November '14. The contract made its

high of ̀ 422.55 on 29th October '14 and a low of ̀ 403.10 on 5th November '14. The 18-day Exponential

Moving Average of the commodity is currently at ̀ 412. On the daily chart, the commodity has Relative Strength Index (14-day) value of 42. One can buy in the

range 405-404 with the stop loss of ̀ 402 for a target of ̀ 416.

NATURAL GAS MCX (NOVEMBER) contract closed at 250.60 on 13th November '14. The contract made

its high of `279.30 on 10th November '14 and a low of `223.20 on 28th October '14. The 18-day

Exponential Moving Average of the Commodity is currently at ̀ 251.

On the daily chart, the commodity has Relative Strength Index (14-day) value of 47. One can buy in the

range 243-241 with the stop loss of ̀ 237 for a target of ̀ 255.

`

SOYAREFINED OIL NCDEX (DECEMBER) contract closed at 589.60 on 13th November '14. The contract

made its high of `613.00 on 30th October '14 and a low of `569.75 on 29th September '14. The 18-day

Exponential Moving Average of the Commodity is currently at ̀ 591.

On the daily chart, the commodity has Relative Strength Index (14-day) value of 47.77. One can sell in

the range 592-595 with the stop loss of ̀ 598 for a target of ̀ 582.

`

®

COPPER MCX (NOVEMBER)

NATURAL GAS MCX (NOVEMBER)

SOYAREFINED OIL NCDEX (DECEMBER)

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 Daily report- commodities (Morning Mantra).

2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the 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.

EXCHANGE COMMODITY CONTRACT CLOSING DATE TREND TREND RATE TREND SUPPORT RESISTANCE CLOSING

PRICE CHANGED CHANGED STOP/LOSS

NCDEX SOYABEAN DEC 3318.00 05.06.14 DOWN 4401.00 - 3380.00 3450.00

NCDEX JEERA DEC 12090.00 13.11.14 UP 12090.00 11000.00 10000.00

NCDEX CHANA DEC 3183.00 30.10.14 UP 3131.00 2900.00 2800.00

NCDEX RM SEEDS DEC 3863.00 06.03.14 UP 3564.00 3600.00 3550.00

MCX MENTHA OIL NOV 690.90 29.05.14 SIDEWAYS

MCX CARDAMOM DEC 876.90 25.09.14 DOWN 849.70 - 900.00 940.00

MCX SILVER DEC 34707.00 11.09.14 DOWN 41270.00 - 36000.00 37000.00

MCX GOLD DEC 25822.00 11.09.14 DOWN 26986.00 - 26000.00 26500.00

MCX COPPER NOV 407.10 16.10.14 DOWN 409.00 - 420.00 425.00

MCX LEAD NOV 124.15 11.09.14 DOWN 128.95 - 129.00 133.00

MCX ZINC NOV 137.90 30.10.14 UP 141.30 134.00 130.00

MCX NICKEL NOV 944.30 30.09.14 DOWN 1011.60 - 1000.00 1030.00

MCX ALUMINUM NOV 126.10 30.10.14 UP 126.05 121.00 117.00

MCX CRUDE OIL DEC 4667.00 21.08.14 DOWN 5745.00 - 5000.00 5100.00

MCX NATURAL GAS NOV 250.60 06.11.14 UP 263.90 240.00 220.00

TREND SHEET

Closing as on 13.11.14

COMMODITY

NEWS DIGEST

The week gone by was bearish for almost all the commodities. CRB breached the mark of 270

while dollar index enjoyed the more upside. In energy counter, both natural gas and crude prices

dropped on massive selling pressure. Crude fell to continuous seventh week. Brent crude

extended losses from a four-year low, trading near $80 a barrel amid signs that OPEC remains

unwilling to reduce output to ease concern of a global supply glut. Oil has collapsed into a bear

market as leading OPEC members resisted calls to cut production and instead reduced export

prices to the U.S., where output has climbed to the highest level in more than three decades.

Natural gas took a heavy correction in the prices after a continuous three week upside on

moderate temperature news. In base metals counter, most of them revived except copper. Nickel

prices breached the mark of 980 as concern mounted that workers will go on strike at a BHP

Billiton Ltd. mine in Colombia, triggered prospects for tighter supplies. However on Thursday,

nickel witnessed a sharp decline. Copper prices were lower after shuffling between gains and

losses for much of the week, as investors weighed uncertainty about the pace of growth in China

and Europe against expectations of a tighter market for the industrial metal.

In agro commodities, Corn futures rose to a 16-week high on speculation that frigid U.S. weather

will prompt ranchers to use more grains in livestock feed. Wheat jumped the most since April as

the winter blast threatens crops. Domestic maize and wheat prices followed the footsteps of the

international prices. However, the sentiment remained bullish in castor as supply from new crop

in ample quantity is not expected before mid February. Profit booking occurred in mentha after a

three week rise. On a global front, mint consuming segments are shifting towards synthetic

Mentha oil, wide price fluctuations in natural menthe have encouraged bulk consumer to reduce

their use and turn to Synthetic one as it is cheaper to natural menthe. In spices, turmeric and

jeera prices moved up while cardamom was down on selling pressure. Lower area expectations

current year support the jeera prices to go up. R M seed, benchmark Jaipur market, featured

gains on buying interest and falling supplies, impacted noticed in futures too, where prices

witnessed sharp rise.

WEEKLY COMMENTARY

WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)

COMMODITY UNIT 13.11.14 DIFFERENCEQTY. QTY.

BARLEY MT 0 20 20CASTOR SEED MT 119858 138719 18861CHANA MT 16978 19078 2100CORIANDER MT 1559 2211 652COTTONSEED OILCAKE MT 0 0 0GUARGUM MT 4300 5334 1034GUARSEED MT 3343 6788 3445JEERA MT 624 720 96MAIZE MT 17698 17050 -648RAPE MUSTARD SEED MT 1136 1186 50SOYABEAN MT 1242 3160 1918SUGAR M (OLD) MT 969 969 0TURMERIC MT 2011 2110 99WHEAT MT 6316 5764 -552

06.11.14 COMMODITY UNIT 06.11.14 13.11.14 DIFFERENCE

QTY. QTY.

CARDAMOM MT 29.10 31.80 2.70

GOLD KGS 528.00 503.00 -25.00

GOLD MINI KGS 382.30 99.20 -283.10

GOLD GUINEA KGS 35.86 35.60 -0.26

MENTHA OIL KGS 4939340.75 4857381.55 -81959.20

SILVER (30 KG Bar) KGS 7371.52 6490.60 -880.92

•According to World gold council “Total gold demand fell 2 per cent to 929 tonnes in the third quarter”

•According to WGC “Global demand for gold jewellery, the biggest single area of consumption, fell 4 per cent to 534 tonnes”

•According to a International Copper Study Group “ The global copper market is expected to show a small surplus in 2015 after five years of deficits”

•China's daily crude steel output fell 3.3 percent on the month to 2.18 million tonnes in October.

•Chile's Codelco, the world's top copper producer, has offered a lower premium of $133 per tonne for 2015 term shipments of the metal to China.

•Imports of cooking oils by the world's top buyer rose to 11.62 million tonnes in the year ended October from 10.68 million tonnes a year ago. - Solvent Extractors' Association (SEA)

•The Union government has decided to exempt commodities kept in warehouses registered by the Warehousing Development and Regulatory Authority for the futures markets from stock limits fixed under the Essential Commodities Act.

•The projected balance sheet drawn by the CAI for the year 2014-15, estimated total cotton supply at 477.40 lakh bales while domestic consumption is estimated at 306.00 lakh bales, thus leaving an available surplus of 171.40 lakh bales.

•China will harvest 6.51 million tonnes of cotton in the 2014/15 marketing year, a drop of 7% on the previous year, according to estimates by Cncotton.com.

WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)

12

®

NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)

3.29 3.29

2.50

1.871.56

-6.02

-4.53

-3.91

-3.04 -2.99

-8.00

-6.00

-4.00

-2.00

0.00

2.00

4.00

CORIANDER MAIZE KHARIF JEERA R M SEEDS WHEAT (DELHI)

BR. CRUDE OIL CRUDE OIL COTTON SEED GUAR GUM2 MT

2.48

1.981.66

1.30

0.38

-8.67

-4.48

-1.44-1.14

-0.88

-10.00

-8.00

-6.00

-4.00

-2.00

0.00

2.00

4.00

CARDAMOM GOLD PETAL (DEL)

KAPAS SILVER 1000 CPO NATURAL GAS CRUDE OIL COPPER MENTHA OIL COTTON

COMMODITY

COMMODITY EXCHANGE CONTRACT 07.11.14 13.11.14 CHANGE%

ALUMINIUM LME 3 MONTHS 2055.00 2041.00 -0.68

COPPER LME 3 MONTHS 6715.00 6657.00 -0.86

LEAD LME 3 MONTHS 2036.00 2020.00 -0.79

NICKEL LME 3 MONTHS 15425.00 15400.00 -0.16

ZINC LME 3 MONTHS 2245.00 2251.00 0.27

GOLD COMEX DEC 1169.80 1161.50 -0.71

SILVER COMEX DEC 15.71 15.62 -0.59

LIGHT CRUDE OIL NYMEX DEC 78.65 74.21 -5.65

NATURAL GAS NYMEX DEC 4.41 3.98 -9.86

PRICES OF METALS IN LME/ COMEX/ NYMEX (in US $)

WEEKLY STOCK POSITIONS IN LME (IN TONNES)

COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE

06.11.14

ALUMINIUM 4421150 4406575 -14575

COPPER 162100 160800 -1300

NICKEL 385860 388776 2916

LEAD 226550 216375 -10175

ZINC 694600 689700 -4900

13.11.14

INTERNATIONAL COMMODITY PRICES

COMMODITY EXCHANGE CONTRACT UNIT 07.11.14 13.11.14 CHANGE(%)

Soya CBOT JAN Cent per Bushel 1036.75 1053.50 1.62

Maize CBOT DEC Cent per Bushel 367.50 386.25 5.10

CPO BMD JAN MYR per MT 2196.00 2231.00 1.59

Sugar LIFFE DEC 10 cents per MT 418.90 424.10 1.24

13

®

SPOT PRICES (% change) Futures market: No stock limits for regulated warehouses

The Union government has decided to exempt commodities kept in warehouses

registered by the Warehousing Development and Regulatory Authority for the

futures markets from stock limits fixed under the Essential Commodities Act.

The commodities market regulator, Forward Markets Commission, has sent a

communication to all exchanges in this regard. The move is a big relaxation for

commodity futures market players. Several essential commodities such as pulses,

potatoes, edible oils, wheat and sugar are traded on futures exchanges.

Governments invariably invoke the stock limits on some of these, depending upon

the price and crop situations. Stock limits make the hedging of price risks related

to these commodities difficult on the exchange platform. Many traders were not

hedging big quantities due to stock limits issue. Now this step will encourage

genuine volumes in essential items in the commodity exchanges.

According to FMC, However, exempting commodities from such limits if these are

stored in WDRA-registered places will be subject to the condition that these

warehouses publish the information of stocks available with them on a real-time

basis.

This facility will be available only to those who trade on futures exchanges and

having stored the commodity in a regulated warehouse. Other traders' stock in

regulated warehouses will not get this exemption.

The logic for giving an exemption is that even if the stock exceeds the prescribed

limit, that can be hedged on the exchange and this information will be in the public

domain. So, secret hoarding will not be possible.

There were earlier cases where a futures exchange was permitting stock and

position limits which turned out to be higher than the stock limits prescribed for

the commodity. Such cases were found on sugar in Maharashtra and chana in

Rajasthan. Civil supply department officials had objected and the issue was

resolved with the help of the respective exchanges. The new rule will obviate the

need for this.

The move first got in-principle approval of the ministry of finance in August this

year. Commodity futures regulated by the FMC comes under this regulation. Then

economic affairs secretary Arvind Mayaram recommended the ministry of

consumer affairs to provide such exemptions and on October 17, this was notified

to the ministry of finance.

With this reform, the government has resolved discrepancy between the two

central laws-Essential Commodities (EC) Act and Forward Contracts Regulation Act

(FCRA).

Essential Commodities Act allows state governments to set stock holding limits for

licensed dealers of commodities. This was conflicting with FCRA Act which permits

a holder of a commodity futures position to give or take delivery of essential items

in excess of prescribed stock limits under the Essential Commodities Act.

Exchanges have certified the warehouses within 100 kms radius of delivery centres

depending on the feasibility and requirements, in respect of all commodities.

-3.09

-2.49

-1.88

-0.91

-0.31

-0.12

-0.09

0.00

0.00

0.00

0.30

0.56

0.71

0.84

1.59

1.69

1.88

2.51

2.67

4.03

4.69

11.94

-4.00 -2.00 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00

GUR (MUZAFFARNGR.)

CRUDE PALM OIL (KANDLA)

SUGAR (KOLKATA)

REFINED SOYA OIL (INDORE)

MASOOR (INDORE)

CHANA (DELHI )

RAW JUTE (KOLKATA)

GUAR SEED (JODHPUR)

MENTHA OIL (BARANBAKI)

WHEAT (DELHI)

GUAR GUM (JODHPUR)

COTTON (KADI)

CORIANDER (KOTA)

SOYABEAN (INDORE)

BARLEY (JAIPUR)

PEPPER MALABAR GAR (KOCHI)

MUSTARD (JAIPUR)

SILVER 5 KG (DELHI)

TURMERIC (NIZAMABAD)

JEERA (UNJHA)

CHILLI (GUNTUR)

COTTON SEED OIL CAKE (AKOLA)

CURRENCY

Currency Table

Currency Pair Open High Low Close

USD/INR 61.75 61.84 61.59 61.68

EUR/INR 76.59 77.14 76.50 76.90

GBP/INR 97.07 98.29 96.81 97.26

JPY/INR 53.49 54.22 53.10 53.39

(Source: FX Central, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)

News Flows of last week

12th Nov IMF says euro zone growth could be worse than expected13th Nov China's economy lost further momentum in October, with factory

growth dipping13th Nov The German economy dodged a technical recession in the third

quarter, with private consumption and trade supporting modest growth,

13th Nov ECB warned euro zone inflation, growth to be lower than expected13th Nov U.S. budget deficit at $122 billion in October14th Nov China's fiscal spending fell in October from year earlier14th Nov Rupee continued its see-sawing trend despite the sharply lower-

than-expected retail inflation print for October.

EUR/INR (NOV) contract closed at 76.90 on 13th November'14. The contract made its high of `77.14 on 10thNovember'14 and a low of `76.50 on 13th November'14 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 77.22.

On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 41.67. One can sell around 77.40 for a target of 76.40 with the stop loss of 77.90.

`

JPY/INR (NOV) contract closed at 53.39 on 13th November'14. The contract made its high of 54.22 on 10th November'14 and a low of `53.10 on 13th November'14 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 54.59.

On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 22.67. One can sell around 53.80 for a target of 52.80 with the stop loss of 54.30

Market Stance

The rupee continued its see-sawing trend and weakened marginally in the

week gone by as losses in domestic shares weighed despite the sharply lower-

than-expected retail inflation print for October. India's economic outlook

brightened last week with a surprise pick-up in industrial output and further

cooling in consumer prices, boosting Prime Minister Narendra Modi's bid to end

the longest slowdown in growth in decades. The state-run banks were also

spotted buying the greenback on a sustained basis in both the spot and

forward markets. Some suspected this buying could have been on behalf of the

Reserve Bank of India, which is likely to wary of excessive appreciation of the

rupee in an attempt to maintain export competitiveness. Moreover, strong

dollar overseas also capped the gains in local unit. The dollar edged back

toward a seven-year high struck earlier this week against the yen, as

speculation swirled that Japan's Prime Minister Shinzo Abe will call a snap

election in December.

EUR/INR

USD/INR (NOV) contract closed at `61.68 on 13th November '14. The contract made its high of `61.84 on 11th November'14 and a low of `61.59 on 13th November'14 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 61.64.

On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 58.82. One can sell below 61.50 for a target of 60.50 with the stop loss of 62.05

GBP/INR (NOV) contract closed at 97.26 on 13th November'14. The contract made its high of 98.29 on 12th November'14 and a low of `96.81 on 13th November'14 (Weekly Basis). The 14-day Exponential Moving Average of the GBP/INR is currently at ̀ 98.05

On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 29.70. One can sell around 97.50 for a target of 96.50 with the stop loss of 98.00

`

USD/INRTechnical Recommendation

GBP/INR JPY/INR

Economic gauge for the next week

Date Currency Event PREVIOUS

16th Nov JPY JPY Nominal Gross Domestic Product (QoQ) -0.20%

16th Nov JPY JPY Gross Domestic Product Annualized -7.10%

17th Nov USD USD Industrial Production 1.00%

18th Nov GBP GBP Consumer Price Index (MoM) 0.00%

18th Nov GBP GBP Consumer Price Index (YoY) 1.20%

18th Nov GBP GBP Core Consumer Price Index (YoY) 1.50%

18th Nov EUR EUR German ZEW Survey (Economic Sentiment) -3.6

19th Nov USD USD Housing Starts (MoM) 6.30%

19th Nov USD USD Fed Releases Minutes from Oct. 28-29 FOMC Meeting

20th Nov GBP GBP Retail Sales (YoY) 3.10%

20th Nov USD USD Consumer Price Index (YoY) 1.70%

20th Nov USD USD Consumer Price Index (MoM) 0.10%

20th Nov USD USD Existing Home Sales (MoM) 2.40%

20th Nov EUR EUR Euro-Zone Consumer Confidence -11.1

14

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IPO

IPO NEWSIPO NEWS

Companies raise ̀ 562 cr through IPOs in September

Tapping strong investor sentiment, as many as 14 companies came out with initial public offers to raise `562 crore in September this year. Moreover, experts

believe that a flurry of initial pubic offers (IPOs) is expected in the remaining part of 2014-15, especially in the fourth quarter. According to the Sebi data, 14

companies collectively raised ̀ 562 crore through IPOs in September. This included a total of 12 public offers by small and medium enterprises (SMEs). The two

main IPO were that of Sharda Cropchem (`352 crore) and Shemaroo Entertainment Limited (`120 crore). Among the SME IPOs, Momai Apparels topped the chart

with ̀ 30 crore initial share sale. Other IPOs that hit the capital markets in September were Naysaa Securities, Sirohia & Sons, Encash Entertainment, Ultracab

(India), Aryaman Capital Markets, Atishay Infotech, Dhabriya Polywood, Starlit Power Systems, Vibrant Global Capital, Powerhouse Fitness & Realty and ADCC

Infocad.

Lavasa Corp Gets Sebi Nod to Raise ̀ 750 Crore via IPO

Lavasa Corporation, the realty arm of construction major HCC, has received approval of the Securities and Exchange Board of India (Sebi) for raising ̀ 750 crore

through initial public offering (IPO). The company is developing a large township (hill city) in 10,000 hectares in 'Lavasa' near Pune. This is its second effort to hit

the capital market. In November 2010, Lavasa had received the Sebi clearance for an IPO to raise up to `2,000 crore, but bad market conditions forced the

company to scrap the plan. As per initial papers, Lavasa plans to launch an IPO of its equity shares of ̀ 10 each aggregating to ̀ 750 crore. The proceeds from the

current issue would be used to fund the company's growth. The HCC group, which has a 68.72 per cent stake in Lavasa, had said that proposed public issue is

subject to receipt of requisite regulatory approvals, market conditions and other considerations.

Infibeam to raise ̀ 500-1000 crore via IPO

Infibeam mulls filing draft red herring prospectus by December as it gears up for its IPO next year. The Ahmedabad-based e-commerce company plans to file its

draft red herring prospectus with the Securities and Exchange Board of India ( Sebi) by December as it seeks to make its market debut next fiscal amid increased

inflows into the country's consumer internet businesses. Infibeam, which owns and operates e-commerce venture Infibeam.com and B2B e-commerce platform

BuildABazaar, is looking to raise about ̀ 500 crore -`1,000 crore through its initial public offering (IPO), while targeting a market capitalisation of ̀ 3,000 crore-

`4,000 crore. The IPO, expected in 2015, will make Infibeam the first Indian e-commerce company to go public in the country. HomeShop18, which has al so

announced plans to go public, has filed documents to list on the US exchanges.

Aster Health lines up 3 banks for ̀ 1200 cr IPO

India's third-largest healthcare service provider Aster DM Healthcare has finalized three lead banks - Bank of America Merrill Lynch, Goldman Sachs and Kotak - to

manage its `1,200-crore initial public offering (IPO) scheduled for early next year. The IPO is expected to value Aster at around `12,000 crore, or $2 billion,

possibly catapulting founder and Chairman Dr Azad Moopen onto the list of Indian billionaires and among the richest healthcare entrepreneurs. The company

plans to sell 10% shares on the bourses though details of the same are not finalized yet. This would be more than double the valuation of Fortis Healthcare,

controlled by brothers Malvinder and Shivinder Singh, with ̀ 5,581 crore ($907 million) in current market value.

Sadbhav's infra arm likely to file IPO papers by December

Sadbhav Infrastructure Project, a subsidiary of Mumbai-listed Sadbhav Engineering, is looking to list shares on the bourses in an initial public offering (IPO),

which will see its parent offer 15 percent stake. According to sources, Sadbhav Infra Project has appointed Kotak Mahindra Bank, Citi and ICICI Securities as

managers to the issue and it file its draft red-herring prospectus with the securities regulator by December this year. Sadbhav Infra has 11 build-operate-transfer

projects with total cost of ̀ 7,850. Three out of the 11 projects are operational.

Matrix Partners & Avigo Capital planning to sell MIPS stakes via ̀ 300 crore IPO

Private equity funds Matrix Partners and Avigo Capital plan to sell a part of their stake in education services provider Maharana Infrastructure and Professional

Services or MIPS through a `300 crore public offer that values the company at `1,300 crore. The PE funds are seeking a return of more than 2.5 times on their

investments made between 2011 and 2012, according to people familiar with the matter. "The company is looking at rising around ̀ 300 crore. PE investors will

partly exit stake in the IPO," an investment banker said on condition of anonymity.

RBL Bank plans to launch IPO in next three quarters

RBL Bank, formerly known as Ratnakar Bank, plans to raise funds through an initial public offer which will hit the market in the next 8-9 months. The quantum of

offer has not been finalised by the board of the bank, he said, adding that the decision will be taken in the next few months after taking into account various

factors including Basel III requirement.

*Closing prices as on 13-11-2014

IPO TRACKER

Shemaroo Entertainment Entertainment 440.35 120 1-Oct-14 170.00 180.00 163.25 -3.97

Sharda Cropchem Agro Chemical 2620.45 351.86 23-Sep-14 156.00 254.10 290.45 86.19

Snowman Logistic Miscellaneous 1819.29 197.40 12-Sep-14 47.00 78.75 109.30 132.55

Wonderla Holidays Entertainment 1700.11 181.25 9-May-14 125.00 164.75 300.90 140.72

Just Dial service provider 10424.21 950.11 5-Jun-13 530.00 590.00 1485.55 180.29

Repco Home Fin Finance 3358.31 270.39 1-Apr-13 172.00 165.00 539.00 213.37

V-Mart Retail Trading 970.38 123.00 20-Feb-13 210.00 216.00 539.10 156.71

Bharti Infra. Telecom 55749.06 4533.60 28-Dec-12 220.00 200.00 294.90 34.05

Company Sector M.Cap(In ̀ Cr.) Issue Size(in `Cr.) List Date Issue Price List Price Last Price %Gain/Loss(from Issue price)

*

15

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16

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MUTUAL FUND

NEWS

Mfs invest ̀ 32k cr in debt in Oct, total crosses ̀ 5-tnMutual funds pumped in close to a whopping `32,000 crore in the bond market in October, taking the total investment to more than `5 lakh crore since the beginning of the year. In comparison, foreign investors made a net inflow of a staggering 1.4 lakh crore in the debt market so far in 2014. As per the latest data compiled by market regulator SEBI, the net investment by mutual funds (MFs)in the debt market during October stood at ̀ 31,917 crore. This takes the total net investment by MFs into the bond market to `5,27,435 crore so far this year. In 2013, mutual funds had invested a net of `5.12 lakh crore in the bond market. Industry experts attributed the inflows in debt to the new government's reforms agenda, improved fundamentals of the Indian economy and high interest rates.

Tata MF introduces Dual Advantage Fund Series 2 Scheme B (1100 Days)Tata Mutual Fund has launched the New Fund Offer (NFO) of Tata Dual Advantage Fund Series 2 Scheme B (1100 Days), a close ended income scheme. The NFO opens for subscription on Nov 14, 2014 and closes on Nov 28, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is ̀ 5,000 and in multiples of Re 1 thereafter. The scheme's performance will be benchmarked against CRISIL MIP Blended Index and its fund managers are Amit Somani and Rupesh Patel. The investment objective of the scheme is to generate income and / or capital appreciation by investing predominantly in portfolio of fixed income instruments having maturity on or before the date of the maturity of the scheme .The scheme will invest small portion of the scheme assets in equity/equity related instrument including derivative instruments. In case of investment in equity derivatives, the derivative contract shall have expiry before the maturity of the scheme.

Canara Robeco MF introduces India OpportunitiesCanara Robeco Mutual Fund has launched the New Fund Offer (NFO) of Canara Robeco India Opportunities, a close ended income scheme. The NFO opens for subscription on Nov 14, 2014, and closes on Nov 28, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is `5000. The scheme's performance will be benchmarked against CNX Midcap and its fund manager is Ravi Gopalakrishnan. The investment objective of the scheme is to generate capital appreciation by investing predominantly in equity and equity related instruments of mid cap companies.

U TI Mutual Fund files offer document for Capital Protection Oriented Income FundUTI Mutual Fund has filed offer document with SEBI to launch a Close-ended Capital Protection Oriented Income Fund as 'UTI Capital Protection Oriented Scheme- Series V'. The New Fund Offer price is ̀ 10 per unit. Entry and exit load charges will be nil for the scheme. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of `20 crore. The scheme will be benchmarked against scheme CRISIL MIP Blended Index. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter. The investment objective of the scheme is to endeavor to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as secondary objective.

Deutsche MF introduces Fixed Maturity Plan - Series 82 (1100 days)Deutsche Mutual Fund has launched the New Fund Offer (NFO) of Deutsche Fixed Maturity Plan - Series 82 (1100 days), a close ended income scheme. The NFO opens for subscription on Nov 13, 2014 and closes on Nov 17, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is `5,000. The scheme's performance will be benchmarked against CRISIL Composite Bond Fund Index and its fund manager is Rakesh Suri. The investment objective of the scheme is to generate income by investing in debt and money market instruments maturing on or before the date of the maturity of the Scheme.

BOI AXA MF introduces Capital Protection Oriented Fund Series 2BOI AXA Mutual Fund has launched the New Fund Offer (NFO) of BOI AXA Capital Protection Oriented Fund Series 2, a close ended income scheme. The NFO opens for subscription on Nov 13, 2014 and closes on Nov 27, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is `5,000. The scheme's performance will be benchmarked against CRISIL MIP Blended Fund Index and its fund managers are Alok Singh and Saurabh Kataria. The investment objective of the scheme is to seek capital protection on maturity by investing in fixed income securities maturing on or before the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments.

17

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NFOs WATCH

Fund Name NFO NFO Scheme Objective Fund Type Fund Class Fund Manager MinimumOpens on Closes on Amount

05-Nov-2014 19-Nov-2014 Close-Ended Growth `5000ICICI Prudential Capital Protection Oriented-Sr VII Plan B (1285D)-Reg (G)

Shalya Shah /

Rahul Goswami

/Aditya Pagaria

/Vinay Sharma

to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The debt securities would mature on or before the maturity of the Scheme.

12-Nov-2014 26-Nov-2014 Close-Ended Growth `5000Reliance Fixed Horizon Fund - XXVII - Series 12 (1113 D) (G)

Amit Tripathito seek to generate returns and growth of capital by investing in a diversified portfolio of the following securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility Central and State Government securities and Other fixed income/ debt securities

07-Nov-2014 21-Nov-2014 Close-Ended Growth `5000Birla Sun Life Capital Protection Oriented Fund - Series 25 - Regular (G)

Prasad Dhonde

/ Ajay Garg

To seek capital protection by investing in fixed income securities maturing on or before the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments.

18

MUTUAL FUND Performance Charts

Returns (%) Risk Market Cap (%)

Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &

(`) Date (` Cr.) Launch CAP CAP CAP OTHER

Reliance Small Cap Fund - Growth 23.08 16-Sep-2010 931.64 22.57 58.82 121.39 38.24 22.25 2.64 0.74 0.46 4.45 57.23 21.89 16.42

Sundaram SMILE Fund - Reg - Growth 61.91 15-Feb-2005 500.71 26.17 55.1 116.15 30.4 20.56 3.13 0.9 0.29 2.03 62.39 34.01 1.57

DSP BlackRock Micro Cap Fund - Reg - G 34.74 14-Jun-2007 1196.06 24.43 57.7 115.97 33.09 18.27 2.53 1.04 0.4 1.46 69.49 20.82 8.23

Canara Robeco Emerging Equities - G 52.38 11-Mar-2005 101.9 21.39 55.48 107.53 35.53 18.73 2.59 0.77 0.37 10.99 74.70 9.80 4.52

UTI Mid Cap Fund - Growth 72.81 09-Apr-2004 1361.2 22.53 54.04 107.09 34.73 21.64 2.43 0.69 0.44 21.23 61.97 4.42 12.37

HSBC Midcap Equity Fund - Growth 34.98 19-May-2005 215.96 18.11 42.86 105.81 27.73 14.1 3.01 0.8 0.25 10.65 79.27 5.78 4.31

ICICI Prudential MidCap Fund - Growth 65.61 28-Oct-2004 710.88 17.18 49.15 105.67 32.33 20.59 2.5 1.01 0.36 39.04 45.90 6.94 8.12

EQUITY (Diversified)

BALANCED

INCOME FUND

Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 13/11/2014Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%

ULTRA SHORT TERM

SHORT TERM FUND

Due to their inherent long term nature, the following 3 categories have been sorted on the basis of 1 year returns

Due to their inherent short term nature, Short term funds and Ultra short term funds have been sorted on the basis of 6month and 3month returns respectively

Returns (%) Risk Market Cap (%)

Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Jenson LARGE MID SMALL DEBT &

(`) Date (` Cr.) Launch CAP CAP CAP OTHER

HDFC Prudence Fund - Growth 369.61 01-Feb-1994 6744.94 10.58 28.01 62.81 22.44 20.47 2.15 0.15 39.11 26.50 8.81 25.59

HDFC Balanced Fund - Growth 101.43 11-Sep-2000 2018.36 11.95 27.84 56.57 22.50 17.75 1.57 0.21 29.96 39.06 2.16 28.82

Reliance RSF - Balanced - Growth 37.78 08-Jun-2005 654.33 10.44 27.25 53.79 22.31 15.12 1.71 0.13 57.33 14.73 2.37 25.58

Tata Balanced Fund - Plan A - Growth 152.46 08-Oct-1995 907.07 13.16 29.74 52.65 23.57 17.20 1.66 0.17 44.01 28.39 1.36 26.24

ICICI Prudential Balanced - Growth 87.69 03-Nov-1999 996.94 11.47 25.68 50.18 23.87 15.53 1.54 0.21 41.30 22.83 1.30 34.57

DSP BlackRock Balanced Fund - Growth 100.92 27-May-1999 505.61 14.36 28.58 49.61 17.26 16.11 1.76 0.08 48.76 24.25 2.12 24.87

Birla Sun Life 95 - Growth 522.48 10-Feb-1995 886.89 13.18 25.67 49.43 20.65 22.15 1.68 0.15 40.78 32.36 0.85 26.01

Returns (%) RiskAverage Yield till

Scheme Name NAV Launch QAAUM Since Std. SharpeMaturity (Days) Maturity

1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.

Birla Sun Life Income Plus - Reg - G 59.4 21-Oct-1995 3381.24 -3.91 31.21 36.52 15.76 12.82 9.57 9.79 39.94 0.03 -- 8.48

IDFC SSIF - Invt Plan - Reg - Growth 32.04 14-Jul-2000 1662.84 -8.97 27.19 35.14 14.61 11.81 9.89 8.46 36.99 0.06 5234.11 8.36

IDFC SSIF - Invt. Plan - Plan F - Growth 14.42 16-Jul-2010 1662.84 -8.97 27.2 35.14 14.61 11.81 10.1 8.82 37.08 0.06 5234.11 8.36

IDFC D B F- Plan A - Growth 26.64 25-Jun-2002 3049.68 -9.26 27.08 35.01 14.43 11.53 9.86 8.23 36.9 0.05 5219.5 8.36

HDFC Income Fund - Growth 30.28 11-Sep-2000 2186.47 -1.33 30.14 34.73 16.78 13.73 9.6 8.13 38.83 0.03 4766.89 8.61

HDFC HIF - Dynamic - Growth 45.43 27-Apr-1997 831.84 -1.63 29.79 34.63 16.75 13.79 10.57 9 33.43 0.08 4947.88 8.47

Reliance Income Fund - Retail - G P - G 43.08 01-Jan-1998 1703.47 -6.16 27.5 34.29 14.63 11.73 9.54 9.06 37.69 0.02 5694 8.18

Annualised

Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Days) Maturity

1W 2W 1M 6M 1Y 3Y(`) Date (`Cr.) Launch Dev.

Birla Sun Life Dynamic Bond Fund - Ret - G 23.02 24-Sep-2004 8666.55 -5.01 20.79 27.61 13.92 12.53 10.07 8.57 21.28 0.11 -- 8.39

Birla Sun Life Treasury Optimizer Plan - DAP 154.53 22-Jun-2009 1394.84 6.47 17.8 20.91 12.54 11.82 9.99 8.4 6.42 0.43 -- 8.72

Franklin India STIP - Growth 2761.82 31-Jan-2002 9540.66 9.55 17.4 18.72 11.85 11.69 10.13 8.27 12.26 0.23 939.69 10.67

ICICI Prudential STP - Growth 27.58 25-Oct-2001 2797.41 0.38 12.56 15.86 11.68 11.28 9.37 8.08 16.32 0.12 1062.15 8.73

Birla Sun Life Medium Term Plan - Reg - G 16.35 25-Mar-2009 3307.08 9.31 14.18 16.08 11.51 11.98 10.96 9.1 12.57 0.27 -- 10.06

Birla Sun Life Short Term Oppor. Fund - Reg - G 22.02 24-Apr-2003 3584.27 9.43 16.13 17.51 11.41 11.53 10.78 7.06 11.66 0.27 -- 9.33

HDFC Short Term Plan - Growth 26.08 28-Feb-2002 2018.92 7.66 14.02 16.21 11.29 11.45 9.35 7.83 11.7 0.15 761.02 9.67

Annualised

Returns (%) Risk Average Yield tillScheme Name NAV Launch QAAUM Since Std. Sharpe Maturity (Days) Maturity

1W 2W 1M 3M 1Y 3Y(`) Date (`Cr.) Launch Dev.

ICICI Prudential Ultra Short Term Plan - Ret - G 14.80 12-Jun-2009 1784.00 6.91 10.45 11.67 10.32 9.60 8.81 7.50 6.30 0.23 229.86 8.74

DWS Cash Opportunities Fund - Growth 18.08 22-Jun-2007 425.73 7.84 9.92 11.67 10.18 9.57 9.54 8.33 4.57 0.42 215.35 9.60

Franklin India Low Duration Fund - G 14.81 26-Jul-2010 2318.86 9.51 10.64 10.50 10.15 10.21 9.94 9.56 4.02 0.58 229.92 9.78

LIC Nomura MF Savings Plus Fund - G 20.81 29-May-2003 377.48 8.98 11.72 12.44 10.02 8.62 8.51 6.60 3.24 0.33 N.A 8.39

Kotak Floater - LT - Growth 21.57 13-Aug-2004 2360.30 9.90 10.35 10.76 9.91 9.71 9.39 7.78 4.79 0.39 262.80 9.15

Birla Sun Life Floa. Rate Fund - LTP - Ret - G 234.34 05-Jun-2003 1330.56 8.27 9.65 10.22 9.64 9.64 9.61 7.72 3.83 0.52 N.A 8.84

Birla Sun Life Savings Fund - Ret - DAP 148.96 23-Jun-2009 7547.25 9.27 9.94 10.10 9.57 9.64 9.14 7.67 4.01 0.45 N.A 8.90

Annualised

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Mr. S C Aggarwal (CMD, SMC Group) & Mr. D K Aggarwal (CMD, SMC Investments & Advisors Ltd.) sharing their thoughts during ASSOCHAM's 'National Conference on 100 Smart Cities' held at Hotel Taj Mansingh, New Delhi.

Mr. S C Aggarwal (CMD, SMC Group) sharing his thoughts during ASSOCHAM's '10th Annual Summit on Capital Markets' held at Hotel Le-Meridien, New Delhi.