A Weekly Update from SMC

2020: Issue 737, Week: 26th - 29th May (For private circulation only)

M U B A R A K

Brand smc 521

WISHING YOU COUNTLESS

BLESSINGS ON THIS JOYOUS OCCASION

23rd May 2020

 From The Desk Of Editor
Contents

I
Equity 4-7 n the week gone by, global stock market witnessed a volatile movement as U.S.-
Derivatives 8-9 China tensions curbed investor risk appetite and after data showed another wave
Commodity 10-13 of Americans applied for unemployment benefits because of the coronavirus
Currency 14 pandemic, caused global equity markets to stumble. Besides, the news that Beijing
IPO 15 was set to impose new national security legislation on Hong Kong ruined the
FD Monitor 16 sentiments of the market participants. The move drew a warning from President
Mutual Fund 17-18 Donald Trump, who said the United States would react “very strongly” against it.
Meanwhile, China has set a budget deficit target for this year of “at least” 3.6 percent
of Gross Domestic Product (GDP). Oil prices headed for a fourth straight week of gains,
SMC GLOBAL SECURITIES LTD. amid more evidence that fuel demand is recovering as countries ease business and
REGISTERED OFFICES:
social restrictions that were imposed to counter the coronavirus pandemic.
11 / 6B, Shanti Chamber, Pusa Road, New Delhi 110005.
Tel: 91-11-30111000, Fax: 91-11-25754365 Back at home, domestic markets witnessed bouts of volatility tracking global cues
MUMBAI OFFICE: amid a rapid rise in Covid-19 patient count at home. Investors preferred to wait on the
Lotus Corporate Park, A Wing 401 / 402 , 4th Floor ,
sidelines for further cues on opening up of the economy. RBI has announced 40 basis
Graham Firth Steel Compound, Off Western Express Highway,
points cut in repo rate to 4 percent. This is the governor's third such presser in the
Jay Coach Signal, Goreagon (East) Mumbai - 400063
context of COVID-19 related measures in last two months. The first one was on March
Tel: 91-22-67341600, Fax: 91-22-67341697
27 and the second on April 17. The domestic currency rupee also continued to remain
KOLKATA OFFICE:
18, Rabindra Sarani, Poddar Court, Gate No-4,5th Floor, Kolkata-700001 weak against the US dollar as headwinds due to US-China trade tiff and worries over
Tel.: 033 6612 7000/033 4058 7000, Fax: 033 6612 7004/033 4058 7004 the second wave of coronavirus infection weighed on investor sentiment. Meanwhile,
AHMEDABAD OFFICE : ratings agency ICRA sharply revised its growth expectation for India to a 5%
10/A, 4th Floor, Kalapurnam Building, Near Municipal Market,
C G Road, Ahmedabad-380009, Gujarat
contraction in the current fiscal from 1%-2% growth earlier. The rating agency has also
Tel : 91-79-26424801 - 05, 40049801 - 03 said the stimulus package contained more enabling provisions to support economic
CHENNAI OFFICE: recovery after the lockdown was lifted rather than address the immediate needs of
Salzburg Square, Flat No.1, III rd Floor, Door No.107, Harrington Road,
various sectors. Going forward, quarterly earnings and global market jitters over US-
Chetpet, Chennai - 600031.
China tensions over Beijing's plan to impose a national security law on Hong Kong will
Tel: 044-39109100, Fax -044- 39109111
continue to influence the investor sentiment.
SECUNDERABAD OFFICE:
315, 4th Floor Above CMR Exclusive, BhuvanaTower, On the commodity market front, the week gone by was all about the magical upside in
S D Road, Secunderabad, Telangana-500003 crude prices amid some profit booking in bullions from higher levels. Industrial metals
Tel : 040-30031007/8/9
too caught the attention with its further rise. In agri, new trade equations with
DUBAI OFFICE:
Malaysia influenced the prices. More import from Malaysia after a brief ban on CPO
2404, 1 Lake Plaza Tower, Cluster T, Jumeriah Lake Towers,
import, propped up CPO futures, even in India. Crude has risen more than 80% this
PO Box 117210, Dubai, UAE
Tel: 97145139780 Fax : 97145139781 month as production cuts have kicked in and demand has started to return. Oil and gas
Email ID : pankaj@smccomex.com prices should rise as governments gradually lift travel restrictions. It is advisable to
smcdmcc@gmail.com
accumulate on correction only near the level of 2200 and the upside potential is of
around 2700-2750. Gold will remain the favorite of investors on rising geopolitical
Printed and Published on behalf of
Mr. Saurabh Jain @ Publication Address
tensions amid China omitted the 2020 target. It should trade in a range of 46000-
11/6B, Shanti Chamber, Pusa Road, New Delhi-110005 47500. Durable Goods Orders, GDP, Core PCE Price Index, PCE Price IndexPCE Price
Website: www.smcindiaonline.com
Index of US, GDP of Italy, Canada, Mexico and Germany, Core Inflation Rate of EU etc
Investor Grievance : igc@smcindiaonline.com
are many strong triggers that will influence commodities prices going forward.
Printed at: S&S MARKETING

B-26, Ground Floor, Patparganj Industrial Area, Delhi - 110092 (India)

Ph.: +91-11- 43035012, 42720372, Email: ss@sandsmarketing.in

(Saurabh Jain)

SMC Global Securities Ltd. (hereinafter referred to as “SMC”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited and its associate is member of MCX stock Exchange Limited. It is also
registered as a Depository Participant with CDSL and NSDL. Its associates merchant banker and Portfolio Manager are registered with SEBI and NBFC registered with RBI. It also has registration with AMFI as a Mutual Fund Distributor.
SMC is a SEBI registered Research Analyst having registration number INH100001849. SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities market.
SMC or its associates including its relatives/analyst do not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst. SMC or its associates and relatives does not have any material conflict of
interest. SMC or its associates/analyst has not received any compensation from the company covered by Analyst during the past twelve months. The subject company has not been a client of SMC during the past twelve months. SMC or
its associates has not received any compensation or other benefits from the company covered by analyst or third party in connection with the research report. The Analyst has not served as an officer, director or employee of company
covered by Analyst and SMC has not been engaged in market making activity of the company covered by Analyst.
The views expressed are based solely on information available publicly available/internal data/ other reliable sources believed to be true.
SMC does not represent/ provide any warranty express or implied to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any
investment decision.
EQUITY

NEWS TREND SHEET

DOMESTIC Stocks *Closing Trend Date Rate Support Resistance Closing
Economy Price Trend Trend S/l
• The Reserve Bank of India (RBI) governor announced that both the repo rate
and the reverse repo rate would be reduced by 40 basis points during the Changed Changed
coronavirus crisis. The governor extended the ongoing moratorium on loan S&P BSE SENSEX 30673 DOWN 13.03.20 34103 - 35100 36800
repayment, which was due to end on May 31, by another three months to
August 31. The governor also said the Gross Domestic Product growth in NIFTY50 9039 DOWN 13.03.20 9955 - 10300 10800
2020-’21 is likely to remain in the negative and the monetary committee NIFTY IT* 13843 DOWN 13.03.20 13665 - - 14200
expects the headline inflation in the first half of 2020 to remain intact.
NIFTY BANK 17279 DOWN 13.03.20 25347 - 25000 26000
Pharmaceuticals
ACC 1227 UP 17.04.20 1173 1110 - 1080
• Laurus Labs has received an approval from USFDA under PEPFAR (President's
Emergency Plan for AIDS Relief) for two ANDAs (Abbreviated New Drug BHARTIAIRTEL 593 UP 09.04.20 489 550 - 530
Application) TLE 400 (Tenofovir/ Lamivudine/ Efavirenz - 300/300/400mg) BPCL 315 DOWN 15.05.20 318 - 355 365
and TLE 600 (Tenofovir/ Lamivudine/ Efavirenz - 300/300/600mg) tablets.
CIPLA 639 UP 09.04.20 580 570 - 550
• Lupin announced the launch of authorized generic version of Bausch
Health's Apriso® (Mesalamine Extended-Release Capsules 0.375 g) in the SBIN 151 DOWN 28.02.20 303 - 180 190
U.S. Mesalamine Extended-Release Capsules 0.375 g (authorized generic HINDALCO 125 UP 30.04.20 130 110 - 105
version) are indicated for the maintenance of remission of ulcerative colitis
in patients 18 years of age and older. ICICI BANK 291 DOWN 15.05.20 323 - 340 360
• Biocon announced that its subsidiary Biocon Biologics India has received the INFOSYS 692 UP 30.04.20 716 640 - 620
Certificate of GMP compliance from EMA for multiple Biologics Drug ITC** 186 DOWN 08.05.20 158 - - 190
Substance (DS) and Drug Product (DP) manufacturing facilities at Biocon
Park, Bengaluru. L&T 816 DOWN 08.05.20 816 - 920 940
Capital Goods MARUTI 5134 DOWN 08.05.20 4654 - 5350 5500
• K E C International has secured new orders of Rs. 1,203 crore across its NTPC 91 UP 17.04.20 96 88 - 85
various businesses; T&D business and SAE Towers have secured orders of Rs.
ONGC 76 DOWN 06.12.19 127 - 78 82
917 crore for T&D projects in India, Bangladesh, Africa and the Americas.
The Civil business has secured orders of Rs. 176 crore for industrial [civil RELIANCE 1431 UP 09.04.20 1220 1380 - 1340
works for Flue Gas Desulfurization (FGD) project] and residential projects in TATASTEEL 274 DOWN 31.01.20 439 - 300 315
India. The Cables business has secured orders of Rs. 110 crore for various
*NIFTYIT has breached the resistance of 13800 Closing as on 22-05-2020
types of cables/ cabling projects. **ITC has breached the resistance of 180
Tea NOTES:
• Tata Consumer Products announced that it will acquire PepsiCo's stake in 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 ".
NourishCo Beverages (NourishCo/Company), a 50:50 JV between the two 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
Companies. This move is consistent with Tata Consumer's focus on widening 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.
its portfolio in the Food and Beverages space.
Metals
• Welspun Corp has been awarded contracts for supply of 102 KMT of pipes.
Out of these orders, 90 KMT (approx.) is for our US facility, including a large FORTHCOMING EVENTS
order received from one of the company's very prestigious North American
customers for a pipeline to be commissioned in the USA. Accordingly, the Meeting Date Company Purpose
Company's order book stands at 764 KMT valued at approximately Rs 6,200 25-May-20 Bata India Financial Results/Dividend
crore, after considering execution up to April 2020. 25-May-20 Jindal Steel & Power Financial Results
Information Technology
25-May-20 HDFC Financial Results/Dividend & Others
• Cyient has signed a Statement of Intent with the Emergent Alliance, to use
their combined data knowledge to provide new insights and practical 26-May-20 Max Financial Services Financial Results
applications to the global COVID-19 response. As part of the alliance, Cyient 26-May-20 Torrent Pharmaceuticals Financial Results
is working alongside some of the world's largest organizations, data
27-May-20 Dabur India Financial Results/Dividend
specialists, and governments to support future decision-making on regional
and global economic challenges that will get people back to work and help 27-May-20 Sun Pharma. Industries Financial Results/Dividend
businesses thrive post-pandemic. 27-May-20 Ujjivan Fin. Services Financial Results/Dividend
27-May-20 United Spirits Financial Results
INTERNATIONAL NEWS 28-May-20 Lupin Financial Results/Dividend
• US leading economic index tumbled by 4.4 percent in April after plunging by
28-May-20 TVS Motor Company Financial Results
a revised 7.4 percent in March. Economists had expected the index to
plummet by 5.9 percent compared to the 6.7 percent slump originally 29-May-20 Equitas Holdings Financial Results
reported for the previous month. 29-May-20 Voltas Financial Results/Dividend
• US initial jobless claims dropped to 2.438 million, a decrease of 249,000 30-May-20 Amara Raja Batteries Financial Results
from the previous week's revised level of 2.687 million. Economists had
expected jobless claims to tumble to 2.400 million from the 2.981 million 03-Jun-20 CholamandalamInvst.&Fin.Co. Financial Results
originally reported for the previous week. 09-Jun-20 Hero MotoCorp Financial Results/Dividend
• The Chinese government dropped setting economic growth target for the Ex-Date Company Purpose
first time amid uncertainties posed by the coronavirus, or Covid-19,
pandemic. At the annual session of National People's Congress in Beijing, 29-May-20 Infosys Dividend - Rs 9.50 Per Share
Premier Li Keqiang said the country will face some factors that are difficult 01-Jun-20 Colgate Palmolive (India) Interim Dividend - Rs 16 Per Share
to predict in its development due to the great uncertainty regarding the
04-Jun-20 DIC India Dividend - Rs 4.50 Per Share
Covid-19 pandemic and the world economic and trade environment.
• Consumer prices in Japan were up just 0.1 percent on year in April - 11-Jun-20 Huhtamaki PPL Dividend - Rs 3 Per Share
matching forecasts and slowing from the 0.4 percent increase in March. 11-Jun-20 Esab India Interim Dividend
Core consumer prices, which exclude volatile food costs, fell an annual 0.2 12-Jun-20 Kansai Nerolac Paints Dividend - Rs 3.15 Per Share
percent on year versus expectations for a flat reading following the 0.4
percent gain in the previous month. 18-Jun-20 Tata Consumer Products Dividend -Rs 2.70 Per Share

4
EQUITY
INDIAN INDICES (% Change) SECTORAL INDICES (% Change)
0.60 5.00
0.45
0.40
4.00
3.63
0.20

3.00 2.79 2.81

0.00

-0.20 2.00

-0.40 -0.33
-0.45 1.00
-0.60 -0.53

0.00
-0.80
-0.02 -0.08 -0.07

-1.00 -0.63
-1.00

-1.19
-1.20
-1.19
-2.00
-1.40 -1.32

-1.60 -3.00

Ni y Sensex BSE Midcap BSE Smallcap Ni y Next 50 S&P CNX 500

-3.40

-4.00

SMC Trend -4.19

Nifty Sensex BSE Midcap BSE Smallcap Nifty Next S&P CNX 500 -5.00

-5.42
-6.00
Auto Index Bankex Cap Goods Cons Durable FMCG Index Healthcare IT Index Metal Index Oil & Gas Index Power Index Realty Index
Index Index Index

GLOBAL INDICES (% Change)

SMC Trend
4.50 Auto Cap Goods FMCG IT Oil & Gas
Bank Cons Durable Healthcare Metal Power
4.00 3.92 Realty
3.72

3.50 3.33

3.00
3.00
2.96
FII/FPI & DII ACTIVITY (In Rs. Crores)
2.57
3000.00
2.50
2373.19
2.03
2.00
2000.00 1659.74

1.50 1225.53
1.26
1000.00
1.00 401.78

0.50 0.00
-152.42
-258.73
0.00
-0.02 -1000.00
-0.50
Nasdaq Comp. Dow Jones S&P 500 Nikkei Strait Times Hang Seng Shanghai Comp. FTSE 100 CAC 40
-1328.31
-1466.52
-2000.00
SMC Trend -2388.04 -2512.82
Nasdaq Nikkei Hang Seng FTSE 100 -3000.00
Dow jones Strait times Shanghai CAC 40 Friday Monday Tuesday Wednesday Thursday
S&P 500
FII / FPI Activity DII trading activity
Up Down Sideways
BSE SENSEX TOP GAINERS & LOSERS (% Change) NSE NIFTY TOP GAINERS & LOSERS (% Change)
20.00
20.00

14.76 14.76
15.00 15.00

10.00 10.00 8.60 8.12

7.25 7.05 7.30 7.08
5.19 4.60
5.00 5.00

0.00 0.00

-5.00 -5.00
-5.67 -5.07 -5.67
-6.24
-10.00 -8.68 -8.07 -10.00 -8.68
-8.07

-15.00 -15.00

-17.16 -17.17
-20.00 -20.00
ITC Bhar Airtel M&M TCS HCL IndusInd St Bk of India Axis Bank ICICI Bank Larsen & ITC Hindalco Inds. Cipla Bhar Airtel M&M IndusInd Bank St Bk of India Axis Bank Zee ICICI Bank
Technologies Bank Toubro Entertainmen

5
EQUITY
Beat the street - Fundamental Analysis
SBI
AHLUWALIA
LIFE INSURANCE
CONTRACTS
COMPANY
(INDIA)
LIMITED
LIMITED CMP: 331.00
729.90 Target
Target Price:
Price: 842
402 Upside: 15%
21%
VALUE
VALUEPARAMETERS
PARAMETERS Investment Rationale collection to Rs 11862.98 crore in Q4FY2020, aided
• SBI Life Insurance Company is one of the leading life by 15% growth in the renewal business to Rs 8130
Face Value (Rs.) 10.00 crore, while new business premium declined 12% to
Insurance companies in India. The company has strong
52 Week High/Low 1030.00/520.00 distribution network of 186,495 trained insurance Rs 3800 crore in Q4FY2020.
professional and widespread operations with 937 Risk
M.Cap (Rs. in Cr.) 72992.17 offices across country. • Global slowdown of the financial market and
• The Value of New Business (VoNB) eased 6% to Rs economies
EPS (Rs.) 14.22 540crore in Q4FY2020, while VoNB margins improved • Significant regulatory or economic developments
P/E Ratio (times) 51.33 to 18.7% in FY2020 from 17.7% in FY2019 and 18.3% in in insurance sector
9MFY2020.
Valuation
P/B Ratio (times) 8.35 • Total protection new business premium has
increased by 10% to Rs 640 crore in Q4FY2020 from Rs The company has maintained healthy business growth,
Stock Exchange BSE 580 crore in Q4FY2019. The share of total protection supported by strong growth in premium collection and
NBP (individual and group) has jumped to 16.8% in investment income. The management of the company
% OF SHARE HOLDING Q4FY2020 from 13.4% in Q4FY2019. expects share of protection to be in double digits in
next three years on APE basis from 8% currently. While,
• AUM has grown by 14% to Rs 160360 crore end March the protection share is expected to touch 15% on NBP
2020 from Rs 141020 crore end March 2019 with debt- basis from 11%. Moreover, the company expects
equity mix of 79:21. Approx. 93% of the debt healthy growth in the productivity of banca channel,
investments are in AAA and Sovereign instruments. while aims to achieve 20% growth in banca channel.
• The company has exhibited strong 13th month Thus, it is expected that the stock will see a price
persistency of 86.14% in FY2020 as compared to 85.07% target of Rs.842 in 8 to 10 months time frame on a
in FY 2019.61st month persistency has improved to current P/Bvx of 8.35x and FY21 BVPS of Rs.100.87.
59.90% in FY 2020 as compared 57.23% in FY2019.
• The Company's net worth increased by 15% from Rs P/B Chart
7580crore as on 31 March 2019 to Rs 8740crore as on
` in cr 31 March 2020.The solvency ratio as on 31 March
ACTUAL ESTIMATE 2020 was at 1.95 as against the regulatory
FY Mar-19 FY Mar-20 FY Mar-21 requirement of 1.50x.
Revenue 32890.35 40324.01 49533.61 • The Company has diversified distribution network
Ebit 1559.39 2029.31 -
comprising of strong bancassurance channel, agency
channel and others comprising of corporate agents,
Pre-tax Profit 1372.86 1545.32 1824.30 brokers, micro agents, common service centers,
Net Income 1326.80 1422.17 1634.23 insurance marketing firms, web aggregators and
EPS 13.27 14.22 16.38 direct business. NBP channel mix for FY 2020 is
bancassurance channel 60%, agency channel 20%,
BVPS 75.76 87.43 100.87 and other channels 20%.
RoE 18.80% 17.43% 17.50% • The company has posted 5% growth in net premium

GRANULES
HEXAWAREINDIA
TECHNOLOGIES
LIMITED LIMITED CMP: 382.90
168.35 Target Price: 441
199 Upside: 18%
15%
VALUE
VALUEPARAMETERS
PARAMETERS Investment Rationale company aims to maintain a debt-EBITDA ratio of 1x.
Face Value (Rs.) 1.00 • Granules India Limited is a pharmaceutical company • The gross debt as on December 2019 stood at Rs 902
with presence across the pharmaceutical crore as compared to Rs 1,040 crore at the end of
52 Week High/Low 188.85/84.25
manufacturing value chain, including active Q3FY19. The R&D spends expensed for the quarter
M.Cap (Rs. in Cr.) 4280.26 pharmaceutical ingredients (APIs), pharmaceutical stood at Rs 22 crore.
EPS (Rs.) 12.88 formulation intermediaries (PFIs) and finished dosages Risk
(FDs). The Company's business operations include
P/E Ratio (times) 13.07 • Promoter Pledging
three areas: core business, emerging business, and
P/B Ratio (times) 2.52 contract research and manufacturing services • Increase in R&D spend
(CRAMS). Valuation
Dividend Yield (%) 0.59
• The company’s major focus would be on the bottom The company has a healthy balance sheet with strong
Stock Exchange BSE,NSE,MSEI line which is expected to be driven by better product cash balance; it has continued same performance and
%%OF
OFSHARE
SHAREHOLDING
HOLDING mix, new launches from the company, and reported good bottom line due to growing
contribution from the new facility in Vizag and profitability from its joint venture companies.
Metformin facility and new Oncology facility (yet to Moreover, the management has committed towards
be commercialized). The Vizag facility has been adhering to regulations and standards benchmarked
commissioned and is expected to break-even in FY21 globally and produce quality drugs for its marquee
and contributes meaningfully from FY22. clients which are giving good strength to the
• During Q3FY20, it has reported a profit of Rs 64.03 company. Thus, it is expected that the stock will see a
crore up by 6.16% yoy, impacted by an impairment price target of Rs.199 in 8 to 10 months time frame on
l o s s o f R s 3 2 c r o r e i n G r a n u l e s - B i o c a u s e a current P/Ex of 13.07x and FY21 EPS of Rs.15.21.
Pharmaceutical, which is now being sold by the P/E Chart
company. Revenue from operations in Q3 grew 11.4
` in cr
percent YoY to Rs 704 crore. For the next three
ACTUAL ESTIMATE years, the management of the company expects a
FY Mar-19 FY Mar-20 FY Mar-21 25% PAT CAGR.
Revenue 2279.20 2695.52 3143.32
• The company has received 3 ANDA approvals and has
Ebitda 384.04 547.90 653.26
filed 2 ANDAs this quarter. As on December 2019,
Ebit 278.55 427.57 507.12
there are 19 ANDAs awaiting approvals.
Pre-Tax Profit 325.52 415.24 505.85
Net Income 236.41 331.84 390.12 • From the concall of Q3 FY20, Capex during 9M FY20
EPS 9.28 13.25 15.21 was Rs. 129 crore and the company guided to FY20
BVPS 60.16 70.41 80.68 capex of Rs 150 crore. The next round of huge
RoE 16.69% 20.39% 19.74% capacity addition would be after 3-4 years and the

Above calls are recommended with a time horizon of 8 to 10 months. Source: Company Website Reuters Capitaline

6
EQUITY

Balkrishna Industries Limited (BALKRISIND)

The stock closed at Rs 995.10 on 22nd May 2020. It made a 52-week low at Rs 679
on 23rd March 2020 and a 52-week high of Rs. 1297.95 on 20th February, 2020.
The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart
is currently at Rs 929.31

The stock witnessed sharp recovery from yearly lower of 679 levels and trading
in higher highs and higher lows, sort of “Rising Wedge” on weekly charts, which
is bullish in nature. Last week, stock gained by over 5% and is likely to close on
verge of breakout of pattern along with high volumes, buying is aggressive for
the stock. Therefore, one can buy in the range of 980-985 levels for the upside
target of 1070-1090 levels with SL below 920.

Cipla Limited (CIPLA)

The stock closed at Rs 639.35 on 22nd May 2020. It made a 52-week low of Rs
355.20 on 13th March 2020 and a 52-week high of Rs. 641.85 on 22nd May, 2020.
The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart
is currently at Rs 499.11

Short term, medium term and long term bias are looking positive for the stock as
it is trading in higher highs and higher lows on broader charts. Apart from this, it
was formed a “Bull Flag” pattern on weekly charts and has given the breakout of
same in last week, ended over 12% gains along with huge volumes so follow up
buying may continue for coming days. Therefore, one can buy in the range of
627-633 levels for the upside target of 690-700 levels with SL below 585.

Disclaimer : The analyst and its affiliates companies make no representation or warranty in relation to the accuracy, completeness or reliability of the information contained in its
research. The analysis contained in the analyst research is based on numerous assumptions. Different assumptions could result in materially different results.
The analyst not any of its affiliated companies not any of their, members, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any
part of the analysis research.
SOURCE: CAPITAL LINE

Charts by Spider Software India Ltd

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

7
DERIVATIVES
WEEKLY VIEW OF THE MARKET

Indian markets fell for third consecutive week, majorly dragged by the financials and banking names like HDFC, ICICI Bank, Axis Bank and the Bajaj twins as
market participants remained unsatisfied by the RBI despite slashing the repo rate by 40 bps to 4%. From derivative front, once again tug of war was seen among
bulls and bears as call writers at 9300 strike while put writers at 9000 strike kept the index in well define range. From the technical front, 8800-9300 range would
be crucial for upcoming week and move beyond this range would gauge further direction into the index. The Implied Volatility (IV) of calls closed at 29.29% while
that for put options closed at 31.77%. The Nifty VIX for the week closed at 32.99% and is expected to remain volatile. PCR OI for the week closed at 1.05 down as
compared to last week at 1.09 which indicates more call writing than put. At the current juncture, traders should remain focussed on stock-specific moves and
are advised to trade cautiously tracking global markets as volatility is likely to grip the domestic markets in the coming few sessions as well.

DERIVATIVE STRATEGIES

BULLISH STRATEGY BEARISH STRATEGY

TCS MARUTI LT

BUY MAY 2020 CALL 22.75 BUY MAY 5200 CALL 55.00 BUY MAY 800 PUT 5.15
OPTION SELL MAY 2050 CALL 11.00 SELL MAY 5300 CALL 30.00 SELL MAY 780 PUT 3.00
STRATEGY
Lot size: 250 Lot size: 100 Lot size: 375
BEP: 2031.75 BEP: 5225.00 BEP: 797.85

Max. Profit: 4562.50 (18.25*250) Max. Profit: 7500.00 (75.00*100) Max. Profit: 6693.75 (17.85*375)
Max. Loss: 2937.50 (11.75*250) Max. Loss: 2500.00 (25.00*100) Max. Loss: 806.25 (2.15*375)

TATACHEM (MAY FUTURE) APOLLOHOSP (MAY FUTURE) MANAPPURAM (MAY FUTURE)

Buy: Above `296 Sell: Below `1240 Sell: Below `114
FUTURE
Target: `309 Target: `1192 Target: `109
Stop loss: `290 Stop loss: `1268 Stop loss: `117

NIFTY OPTION OI CONCENTRATION (IN QTY) (MONTHLY) CHANGE IN NIFTY OPTION OI (IN QTY) (MONTHLY)

In lakhs In lakhs
32.85

12.00
35.00

9.53

9.19
28.66
28.31

10.00

8.54
8.49
7.92

7.88

30.00

6.73
8.00
23.22

6.02
5.77

5.49
21.73

25.00
6.00
3.97
18.24

17.53

20.00 4.00
2.52
15.63

15.32

1.18
12.56

0.84
12.14

2.00
11.44

15.00
11.28

0.06

0.00
10.00
6.96

-0.07

-0.23
-0.33
5.99

-0.43
5.72

-0.60

-0.60
4.57

-2.00
2.99

2.69
2.35

5.00
1.44
1.18

-4.00

-3.34
0.00
7500 8000 8500 8800 9000 9100 9200 9300 9400 9500 10000 7500 8000 8500 8800 9000 9100 9200 9300 9400 9500 10000
Call Put Call Put

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

In 10,000 In 10,000
30.66

35.00
46.44

50.00
28.01

30.00
24.28

23.19

45.00
25.00
19.47
35.39

40.00
33.85
32.57

20.00
13.59
12.94

12.89
29.95

35.00
28.23

10.07

15.00
25.37

8.61

30.00
10.00
5.56

25.00
2.60
19.15
17.77

5.00
0.72
17.26

0.39
17.16
15.21

20.00
14.15

0.00
-0.03
-0.09
-0.68

-0.73

-0.76

15.00
-1.77

-5.00
9.03

-4.72
5.98

10.00
5.85
5.78

-10.00
3.00

1.94
1.58
0.91

5.00
0.40

-15.00
-12.67

0.00
16000 16500 17000 17500 18000 18500 19000 19500 20000 21000 22000 16000 16500 17000 17500 18000 18500 19000 19500 20000 21000 22000
Call Put Call Put

8
DERIVATIVES

SENTIMENT INDICATOR (NIFTY) SENTIMENT INDICATOR (BANKNIFTY)

21-May 20-May 19-May 18-May 15-May 21-May 20-May 19-May 18-May 15-May
DISCOUNT/PREMIUM -31.15 0.10 5.00 2.60 0.25 DISCOUNT/PREMIUM -90.25 -3.55 -47.50 -41.60 -26.25
COST OF CARRY% 0.79 0.84 0.80 0.81 0.74 COST OF CARRY% 0.82 0.85 0.87 0.88 0.86
PCR(OI) 1.05 1.05 0.97 0.98 1.09 PCR(OI) 0.70 0.70 0.67 0.65 0.82
PCR(VOL) 0.94 0.91 0.76 0.81 0.84 PCR(VOL) 0.86 0.70 0.71 0.61 0.63
A/D RATIO(NIFTY 50) 1.17 5.25 2.33 0.16 1.00 A/D RATIO(BANKNIFTY) 0.33 3.00 0.33 0.00 0.20
A/D RATIO(ALL FO STOCK)* 1.09 6.26 2.00 0.11 0.79 A/D RATIO(ALL FO STOCK)# 0.44 3.33 0.30 0.00 0.18
IMPLIED VOLATILITY 29.29 31.11 34.27 37.93 35.30 IMPLIED VOLATILITY 47.12 49.78 51.67 51.79 49.64
VIX 32.99 35.81 39.45 40.92 38.02 VIX 32.99 35.81 39.45 40.92 38.02
HISTORICAL VOLATILITY 52.53 54.18 55.02 56.66 55.99 HISTORICAL VOLATILITY 74.84 77.02 78.69 81.12 76.49
*All Future Stock #All Future Stock

FII’S ACTIVITY IN INDEX FUTURE FII’s ACTIVITY IN DERIVATIVE SEGMENT

In Cr. In Cr.

4890.62
3000 6000
2332

2500 5000

2000 4000

3000

1786.23
1500
806

1000 2000

1000
91.73

500

41.46
216

0
0
-49

-279.42
-616.63
-1000
-837.29

-500
-471
-620

-2000
-1830.63
-803

-1000

-1938.13
-872

-3000
-1328

-1500
-3108.61
-1628

-4000
-2000
08-May 11-May 12-May 13-May 14-May 15-May 18-May 19-May 20-May 21-May 08-May 11-May 12-May 13-May 14-May 15-May 18-May 19-May 20-May 21-May

Top 10 Long Buildup Top 10 Short Buildup

NAME LTP % Price Change Open interest %OI Chng NAME LTP % Price Change Open interest %OI Chng
AMARAJABAT 596.45 4.22% 1382400 30.32% UJJIVAN 155.55 -6.35% 4443800 22.38%
BALKRISIND 972.15 2.95% 862400 18.72% UPL 367.45 -3.12% 18697500 17.09%
ITC 189.50 14.92% 46579200 18.47% JUBLFOOD 1560.85 -5.56% 2324500 16.20%
PEL 914.45 3.30% 4428588 15.71% IDFCFIRSTB 18.65 -10.77% 120192000 15.33%
PVR 872.15 3.38% 1702400 13.98% EQUITAS 44.10 -11.18% 8364300 13.35%
PAGEIND 18404.10 4.69% 135075 8.60% ASHOKLEY 44.65 -5.00% 54632000 12.23%
WIPRO 188.25 2.56% 24950400 7.99% RAMCOCEM 560.05 -2.50% 502400 11.15%
DRREDDY 3836.75 2.53% 3073250 5.57% CHOLAFIN 129.85 -13.06% 7157500 11.06%
PIDILITIND 1419.60 3.58% 2395500 2.63% TATACHEM 282.85 -3.41% 1723500 10.63%
CADILAHC 344.85 3.92% 7046600 2.46% COLPAL 1329.35 -1.42% 1556800 10.21%

**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

9
 SPICES BULLIONS
Turmeric futures (June) is expected to trade on a positive note in the range of Bullion counter may trade with positive bias as rising U.S.-China tensions over
5200-5500 levels. On the spot, higher demand is being witnessed which is coronavirus and new legislation on Hong Kong and further US stimulus is
boosting turmeric sales in Erode market. At the Erode Turmeric Merchants assisting the prices ; Gold may test 47900 and take support near 45800. The
Association Salesyard, finger turmeric was sold at Rs.5,109-6,376 a quintal fundamentals are still supportive for gold. Meanwhile, there was a slight
and root variety at Rs.4,809-6,003. At the Erode Cooperative Marketing improvement in the manufacturing activity in Europe and the U.S., the PMI
Society, finger turmeric was sold at Rs.5,170-6,429 and root variety at data also was slightly better. Gold steadied as an escalation in U.S.-China
Rs.4,960-5,959. Of 749 bags kept for sale, 575 bags were sold. The State tensions underpinned bullion's safe-haven appeal, although positive economic
Government is facilitating transport system and goods carrier system to data and easing lockdowns in some countries set up the precious metal for a
improve more quantity of turmeric to be sold & be procured by the traders. In weekly drop. However, U.S.-China frictions dampened risk appetite,
the present scenario, much of the yellow spice is being purchased by the underpinning bullion and offsetting pressure on the metal's prices from the
turmeric powder grinding units. Jeera futures (June) is likely to consolidate in slightly better data. Beijing's plan to impose new national security legislation
the range of 13100-13600 levels and trade with a downside bias. The market on Hong Kong drew a warning from U.S. President Donald Trump that
participants would closely watch the auctions that are going to take place Washington would react "very strongly" to the legislation. Tension between
from this weekend in a staggered manner and accordingly take cues from the the two countries has also heightened in recent weeks, as they exchange
process. Just when arrivals started peaking, the yard was closed since March accusations on the handling of the coronavirus pandemic. U.S. economic data
22 due to the outbreak of novel coronavirus. In days to come, we may see is likely to become grimmer as the effects of the pandemic become clearer,
selling pressure over the counter as the farmers would try to offload their and it is difficult to know what the recovery could look like, New York Federal
produce & on the contrary, the off-take will be limited with major wholesale Reserve Bank President John Williams said. Silver may trade with mixed trend
consuming sectors such as restaurants and hotels remaining closed. Dhaniya where it may take support near 44200 whereas may face resistance near
futures (June) taking support near 5500, may gain higher towards 5899 levels. 48290. The lower-for-longer interest rates with quantitative easing in full
The demand from bulk buyers such as spice companies increased following swing, macro and geopolitical uncertainty and strong investor flows should
relaxation in some restrictions. In Ramganj, the key trading centre in continue to support gold prices on a longer horizon. On Comex Gold may take
Rajasthan, the badami variety was sold at 5,800 rupees per 100 kg and the support near $1685 whereas on upside it may face resistance near $1760. Also
eagle variety at 6,000 rupees. Silver on Comex may trade in range of $16-$18.

OIL AND OILSEEDS ENERGY COMPLEX

Soybean futures (June) is expected to witness correction towards 3650 facing Crude oil prices may trade on strong note. Crude oil surged to its highest level
resistance near 3820 levels. The counter is taking negative cues from the since March’2020 supported by various factors including demand recovery
international market amid growing concerns that the U.S. government's after government easing the restrictions imposed due to COVID-19. After
rhetoric about China's response to the coronavirus pandemic will dampen
witnessing profit booking from higher level crude may again rebound and may
Chinese demand for U.S. supplies. U.S.-China tensions have spiked in recent
weeks, with Pompeo and President Donald Trump slamming Beijing's handling test 2750 whereas may take support near 2290. Crude prices have slumped in
of the outbreak. Mustard futures (June) is witnessing a bull run, and this 2020, with Brent hitting a 21-year low below $16 a barrel in April as demand
uptrend is likely to continue till 4400-4450. But, before taking fresh long collapsed. With fuel uses are rising and more signs that the supply glut is being
positions we would advice to wait for some correction as the fundamentals of tackled. Global supply has been curtailed to a great degree and we are on a
demand & supply are in tug-of-war. On demand side, it is estimated that clear path to a gradual recovery now. So far in May, OPEC+ has cut oil exports
India's exports of mustard meal are expected to halve in 2020-21 (Apr-Mar) by about 6 million bpd, according to companies that track the flows,
from 961,312 tn exported last year due to waning demand from traditional
buyers amid the COVID-19 pandemic. Demand for the Indian-origin meal in the suggesting a strong start in complying with the deal. Qatar Petroleum will
global market has also softened because of lower buying from the livestock slash its spending by around 30% this year in the face of the sharp drop in oil
sector. However, the downside may get restricted & take support near 4250 as and gas prices due to the coronavirus epidemic. Natural gas may continue to
the supply is lower than expected supply of fresh crop in spot markets due to trade in wider range 120-140. Producers were operating the fewest oil and
restrictions to curb the spread of coronavirus in the country. Soy oil futures natural gas drilling rigs on record in the United States at 339 on May 12, the
(June) may consolidate in the range of 760-785 with upside getting capped. In lowest level in the Baker Hughes Company’s rig count data series that dates
the international market, the upside movement of soy oil on CBOT is getting
back to 1987. The decrease in natural gas prices has been over a longer period
limited as the demand has shifted to palm oil. CPO futures (May) is looking
bullish towards 610-615 levels. Recently, India & Malaysia have signed deal to than oil prices; natural gas prices were already at multi-year lows in early
come back into business of palm oil & Malaysian government expects this 2020. The weather is expected to be warmer than normal over the next 2-
positive development to strengthen palm oil prices in the market. weeks in US, but there is little impact on natural gas demand.

OTHER COMMODITIES BASE METALS

Cotton futures (June) facing resistance near 16220, can witness correction Base metals may trade with positive bias. Chinese Premier Li Keqiang is
towards 15000-14800 levels. There are several bearish factors that may lend expected to unveil stimulus measures when the National People's Congress
negative cues to the fbre prices. Firstly, there is over 15% unsold cotton stock starts on Friday to spur its economy. Meanwhile, the general manager of state-
and acute lack of demand. The procurement agencies and private ginners owned metals group Chinalco is calling on China to rein in "blind expansion" of
have slowed down their purchases because of the huge price depreciation and copper smelting capacity Smelters in China. Copper may test 416 while taking
extended lockdowns. Secondly, sowing has already started in some north support near 390. But the prices may lower as mounting Sino-U.S. tensions and
Indian states and farmers are seen shifting from paddy to other competing concerns about a rebound from the coronavirus-led economic slump may curb
crops, mainly cotton, due to shortage of labour and also because of higher risk appetite and demand for metals. Tensions may stoke worries that a U.S.-
returns. Average yield is expected to rise to 491 kg per ha from 480 kg last year, China “Phase 1” trade deal could be threatened. Zinc may recover towards
160 levels by taking support near 145 levels while Lead may face resistance
said US Department of Agriculture in a report. In days to come, more
near 138 levels while taking support near 128 levels. The lead market
correction can be seen in chana futures (June) as it can descend towards 4000,
recorded a surplus of 19,000 tonnes in the three months to March this year
hence sell on rise is recommended in this counter near the resistance of 4150. after an oversupply of 13,000 tonnes in the same period in 2019, according to
The peak arrival of good quality moong is on the way & is expected to peak till the ILZSG. Nickel may witness recovery towards 960 levels while taking
end of this month & this is likely to add selling pressure. Moreover, summer support near 900 levels. Rising demand in the spot market from alloy makers
crop sowing well on track, impressive increase in area under pulses. About mainly are supporting the prices. China’s nickel ore imports dropped 70% YoY
10.35 lakh ha area coverage under pulses as compared to 5.92 lakh ha. during in April as mining operations and shipments from the top supplier—the
the corresponding period of last year. Mentha oil futures (June) will possibly Philippines—were suspended to stem the spread of the COVID-19 pandemic.
go down further to test 1140-1120 levels. The oil from new mentha crop has Aluminum also may remain in narrow range of 129-135 levels. The huge costs
started arriving at the key wholesale market of Barabanki in Uttar Pradesh, involved in suspending and restarting aluminum smelters have mostly
being harvested in Bareilly, Sitapur and Konch districts. Production is seen at a prevented any significant supply cuts. As per WBMS, world primary aluminium
record high of 55,000-60,000 tn this year, up nearly 50% as it was more surplus came in at 709,000 mt vs 761,000 mt, a key factor holding back any
profitable than other crops such as bajra, urad or maize. recovery in prices.

10
 TREND SHEET

EXCHANGE COMMODITY CONTRACT CLOSING DATE TREND TREND RATE TREND SUPPORT RESISTANCE CLOSING
PRICE CHANGED CHANGED STOP/LOSS
NCDEX SOYABEAN JUNE 3782.00 19.05.20 Sideways 3800.00 3600.00 3900.00 -
NCDEX JEERA JUNE 13380.00 15.10.19 Down 16460.00 - 13950.00 14000.00
NCDEX REF.SOY OIL JUNE 778.20 29.01.20 Down 870.00 - 807.00 810.00
NCDEX RMSEED JUNE 4340.00 19.05.20 UP 4232.00 4130.00 - 4100.00
NCDEX CHANA JUNE 4088.00 06.01.20 Down 4440.00 - 4370.00 4400.00
NCDEX GUARSEED JUNE 3602.00 27.01.20 UP 3450.00 3430.00 - 3400.00
NCDEX COCUD JUNE 1996.00 08.11.19 Down 2280.00 - 2170.00 2200.00
MCX CPO JUNE 605.20 29.01.20 Down 776.00 - 632.00 635.00
MCX MENTHA OIL JUNE 1075.90 21.04.20 Sideways 1247.00 1020.00 1145.00 -
MCX SILVER JULY 47335.00 14.05.20 UP 43000.00 44300.00 - 44000.00
MCX GOLD JUN 46388.00 23.12.19 UP 38100.00 45700.00 - 45500.00
MCX COPPER MAY 411.75 08.04.20 UP 389.50 392.00 - 390.00
MCX LEAD MAY 130.15 08.04.20 Sideways 134.50 125.00 136.00 -
MCX ZINC MAY 154.70 08.04.20 UP 148.60 147.00 - 145.00
MCX NICKEL MAY 940.50 08.04.20 UP 880.00 890.00 - 885.00
MCX ALUMINIUM MAY 130.20 08.04.20 Sideways 132.50 125.00 135.00 -
MCX CRUDE OIL JUNE 2563.00 13.05.20 UP 2000.00 2230.00 - 2200.00
MCX NATURAL GAS JUNE 128.80 20.04.20 UP 145.00 118.00 - 115.00
Closing as on 21.05.20

TECHNICAL RECOMMENDATIONS

CRUDE OIL MCX (JUNE) contract closed at Rs. 2563 on 21st May’2020. The contract
made its high of Rs. 3620 on 28th Feb’2020 and a low of Rs.1361 on 22nd Apr’2020. The
18-day Exponential Moving Average of the commodity is currently at Rs.2062.27 On the
daily chart, the commodity has Relative Strength Index (14-day) value of 61.41.

One can buy around Rs. 2250 for a target of Rs.2650 with the stop loss of Rs. 2100.

RMSEED NCDEX (JUNE) contract closed at Rs. 4340 on 21st May’2020. The contract
made its high of Rs. 4355 on 21st May’2020 and a low of Rs. 3820 on 13th Mar’2020. The
18-day Exponential Moving Average of the commodity is currently at Rs. 4238.93 on the
daily chart, the commodity has Relative Strength Index (14-day) value of 62.89.

One can buy around Rs.4250 for a target of Rs. 4500 with the stop loss of Rs. 4130.

ALUMINIUM MCX (MAY) contract was closed at Rs. 130.20 on 21st May’2020. The contract
made its high of Rs. 145.40 on 20th Jan 2020 and a low of Rs. 128.30 on 20th Mar’2020. The
18-day Exponential Moving Average of the commodity is currently at Rs. 130.76 on the daily
chart, the commodity has Relative Strength Index (14-day) value of 39.74.

One can sell at Rs. 130.50 for a target of Rs.124 with the stop loss of Rs 133.

11
 NEWS DIGEST WEEKLY COMMENTARY
Ÿ China has set 2020 budget deficit target of at least 3.6% The week gone by was all about the magical upside in crude prices amid some profit booking in
of GDP. bullions from higher levels. Industrial metals too caught the attention with its further rise. In
Ÿ The expected onset of southwest monsoon 2020 over agri, new trade equations with Malaysia influenced the prices. More import from Malaysia after
Kerala on May 28 – Skymet a brief ban on CPO import, propped up CPO futures, even in India. Gap between CPO and Refined
Ÿ The Fed’s latest policy meeting minutes reinforced its Soya minimized. Malaysia agreed to import rice and sugar from India. Back to crude, it saw a
massive jump of more than 20% and it seems that market was fully ready not to send this counter
promise to hold U.S. interest rates at near zero and to
in negative territory once more in May expiry. WTI rose for a sixth day past $34 a barrel, the
continue providing the economy with cheap money
longest streak for the front-month contract since February 2019. Additional cut by US and other
until it was clear of Covid-19.
countries apart from OPEC + amid some renewed demand gave upsurge to the prices. China’s oil
Ÿ The NCDEX AGRIDEX Futures contract expiring in the demand rises back to pre-pandemic levels. China’s oil demand is thought to have rebounded to
months of June 2020, July 2020, September 2020 and about 13 mb/d, just shy of the 13.4 mb/d level seen before the initial lockdown. Meanwhile,
December 2020 would be available for trading w.e.f. China’s air quality is now worse than it was before the pandemic. The U.S. and Canada have lost
May 26, 2020. somewhere between 3.5 and 4.5 mb/d. U.S. shale production will decline by 197,000 bpd June,
Ÿ The global zinc market surplus declined to 47,300 compared to May. Natural gas was mostly in range. Average gas output in the U.S. Lower 48
tonnes in March from a revised surplus of 140,500 states fell to 89.5B cf/day so far in May. Global demand for natural gas will decline by nearly 2%
tonnes in February, data from the International Lead this year, as commercial and industrial activity is reduced due to coronavirus lockdowns. Base
and Zinc Study Group (ILZSG) showed. metals saw some upsurge on ease of lockdown news, nevertheless the upside was capped as
Ÿ China’s nickel ore imports dropped 70% YoY in April as COVID 19 positive cases crossed 50 lack. It is hampering the labor supply and transportations.
mining operations and shipments from the top Buyers are also inactive so far. Gold prices were on course for their first close over $1,750 an
supplier—the Philippines—were suspended to stem the ounce since 2012 on Wednesday, supported by hopes of further monetary policy loosening
around the world that continues to channel money out of bonds and into bullion. Silver again
spread of the COVID-19 pandemic.
outperformed, rising above $18 an ounce for the first time since late February.
Ÿ China’s refined copper output in April rose 9.2%
compared to a year earlier and was 6.2% higher than the It was a good week for spices, apart from oil seeds and edible oils futures. Turmeric and
previous month. coriander saw good upside on improved offtake in spot market. It is reported that the AMPC of
Unjha, will resume auction of the spice seeds from this weekend in a staggered manner.
Ÿ So far in May, OPEC+ has cut oil exports by about 6
Soyabean was in range. The reason being is that this kharif season has brightened the prospects
million bpd, according to companies that track the
for soybean cultivation starting next month. Mustard performed better as demand for mustard
flows, suggesting a strong start in complying with the
at this time is good from millers. Mentha prices were down. This season, the acreage of menthe
deal. in the major grown state of Uttar Pradesh has totaled to 200,000 hectares.

NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
6.00% 14.00%
5.15% 13.06%

12.00%
4.00%
3.09%
10.00%
2.00% 1.67% 1.65%
1.23%
8.00%

0.00%
6.00%

4.15%
-1.21%
-2.00% 4.00%
-1.88% 3.22%
2.67%

-3.11% 2.00%
-4.00%

0.00%
-0.13% -0.04%
-0.40%
-6.00%
-5.95% -2.00%
-6.53% -2.29%

-8.00% -4.00%
WHEAT TURMERIC SOY OIL SOYABEAN RM SEED BAJRA BARLEY CASTOR SEED CHANA CORIANDER CRUDE OIL NICKEL CPO COPPER GOLD PETAL KAPAS COTTON MENTHA OIL

WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX) WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)

COMMODITY UNIT 14.05.20 20.05.20 DIFFERENCE COMMODITY UNIT 13.05.20 21.05.20 DIFFERENCE
QTY. QTY. QTY. QTY.
BAJRA MT 272 272 0 ALUMINIUM MT 1245.08 1299.28 54.19
BARLEY MT 3701 3827 126 CARDAMOM MT 0.20 0.00 -0.20
CASTOR SEED MT 1396 2955 1559 COPPER MT 2515.89 2400.40 -115.49
CHANA MT 12586 12748 162 COTTON BALES 141275.00 141100.00 -175.00
CORIANDER MT 839 859 20 GOLD KGS 431.00 431.00 0.00
COCUD MT 24902 24096 -806 GOLD MINI KGS 246.50 129.00 -117.50
GUARGUM MT 5237 4689 -548 GOLD GUINEA KGS 1.61 1.61 0.00
GUARSEED MT 9752 9752 0 LEAD MT 672.34 481.15 -191.19
JEERA MT 74 74 0 MENTHA OIL KGS 4316.00 0.00 -4316.00
MAIZE (KHARIF) MT 459 199 -260 NICKEL MT 412.49 485.94 73.45
RM SEED MT 8876 5239 -3637 SILVER (30 KG Bar) KGS 23579.70 24038.56 458.87
SOYBEAN MT 11076 11823 747 ZINC MT 4707.72 5215.02 507.30

12
COMMODITY
Spot Prices (% Change) Foodgrain Production on uncharted territory: A cheering in crisis time
The 3rd Advance Estimates of production of major crops for 2019-20 have been
released by the Department of Agriculture, Cooperation and Farmers Welfare May 15,
GUAR SEED (JODHPUR) 3.84
2020. As per Third Advance Estimates for 2019-20, total Foodgrain production in the
country is estimated at record 295.67 million tonnes which is higher by 10.46 million
tonnes than the production of foodgrain of 285.21 million tonnes achieved during 2018-
MUSTARD (JAIPUR) 3.78
19. However, the production during 2019-20 is higher by 25.89 million tonnes than the
previous five years’ (2014-15 to 2018-19) average production of foodgrain.
GUAR GUM (JODHPUR) 3.63 • Total production of Rice during 2019-20 is higher by 8.17 million tonnes than the five
years’ average production of 109.77 million tonnes.
• Production of Wheat during 2019-20 is higher by 11.02 million tonnes than the
CRUDE PALM OIL (KANDLA) 1.76
five years average wheat production of 96.16 million tonnes.
• Production of Nutri / Coarse Cereals is higher by 4.50 million tonnes than the five
COTTON SEED OIL CAKE (AKOLA) 1.56

Food Grain Prodution in India (In million ton)

COTTON (KADI) 1.23

WHEAT (DELHI) 0.75

TURMERIC (NIZAMABAD) 0.00

RAW JUTE (KOLKATA) 0.00

PEPPER MALABAR GAR (KOCHI) 0.00

GUR (MUZAFFARNGR) 0.00 Major Crop production in last 5 Years (in millon ton)

SOYABEAN (INDORE) -0.30

JEERA (UNJHA) -2.16

BARLEY (JAIPUR) -2.97

CORIANDER (KOTA) - 4.43

-5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00

Source: MOA *3rd advance estimates

WEEKLY STOCK POSITIONS IN LME (IN TONNES) years average production.

• Total Pulses production during 2019-20 is higher by 2.19 million tonnes than the
COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE Five years’ average production of 20.82 million tonnes.
14.05.20 21.05.20 • Total Oilseeds production in the country during 2019-20 is higher by 4.10 million
ALUMINIUM 1351800 1466625 114825 tonnes than the five years average oilseeds production.
• Total production of Sugarcane in the country during 2019-20 is estimated at
COPPER 227025 273175 46150 358.14 million tonnes.
NICKEL 233310 233874 564 • Production of Cotton is estimated at record 36.05 million bales (of 170 kg each) is
LEAD 74875 75075 200 higher by 8.01 million bales than the production of 28.04 million bales during 2018-
19. Production of Jute & Mesta is estimated at 9.92 million bales (of 180 kg each).
ZINC 99100 107275 8175 The record production spells good for farmers, government and for better economic
growth, during ongoing coronavirus pandemic. The Department of Agriculture,
Cooperation and Farmers Welfare, Government of India is taking several measures
PRICES OF COMMODITIES IN LME/ COMEX/ NYMEX (in US $) to facilitate the farmers and farming activities at field level during the lockdown
period in the wake of Covid 19 pandemic. Government of India has been making
COMMODITY EXCHANGE CONTRACT 15.05.20 21.05.20 CHANGE% concerted efforts to facilitate farmers in direct marketing and assure better
returns. By advising to maintain social distancing in the mandis to prevent the
ALUMINIUM LME CASH 1433.50 1487.00 3.73 spread of Corona Virus the States have been requested to promote the concept of
COPPER LME CASH 5155.00 5387.00 4.50 ‘Direct marketing’ to facilitate farmers/ group of farmers/FPOs/Cooperatives in
selling their produce to bulk buyers/big retailers/processors etc.
LEAD LME CASH 1576.50 1654.00 4.92
INTERNATIONAL COMMODITY PRICES
NICKEL LME CASH 12084.00 12762.00 5.61
COMMODITY EXCHANGE CONTRACT UNIT 15.05.20 21.05.20 CHANGE(%)
ZINC LME CASH 1939.00 1996.50 2.97
GOLD COMEX JUNE 1756.30 1721.90 -1.96 Soybean CBOT JULY Dollars Per Bushel 8.38 8.35 -0.36

SILVER COMEX JULY 17.07 17.36 1.70 Soy oil CBOT JULY Cents per Pound 26.58 27.11 1.99
LIGHT CRUDE OIL NYMEX JUNE 29.43 33.92 15.26 CPO BMD JULY MYR per MT 2091.00 2207.00 5.55
NATURAL GAS NYMEX JUNE 1.65 1.71 3.89 Cotton ICE JULY Cents per Pound 58.25 58.06 -0.33

13
CURRENCY
Currency Table News Flows of last week
Currency Pair Open High Low Close 18th MAY IMF chief warned full global economic recovery unlikely in 2021

USD/INR 75.8400 76.1400 75.4800 75.5250 19th MAY UK Jobless Rate Unexpectedly Fell to 3.9%

EUR/INR 82.0400 83.0900 81.9425 82.9825 19th MAY UK Productivity fell the Most since 1974
GBP/INR 92.0700 92.9375 91.7500 92.3700 19th MAY Bank of England not ruling out negative rates in future - Tenreyro
JPY/INR 70.8325 70.9575 70.0650 70.0950 19th MAY Three quarters of Singapore economy will resume operations from
(* NSE Currency future, Source: Reliable, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST)
June 2 - government
20th MAY UK Inflation Rate eased to 3-1/2-Year Low
Market Stance 21th MAY Japan exports fell most since 2009 as pandemic wipes out global
Indian rupee recorded another week of marginal move amid lack of fresh trigger demand
from global markets. Dollar flows into Indian businesses notably PE funds hit the
22th MAY India Unexpectedly slashed repo rate to 4%
markets prompted traders to trim long positions in dollar against rupee mark.
However, strong intervention to bid dollar by RBI at lower level warrant the outright
Economic gauge for the next week
fall in USD/INR pair. Admittedly the domestic Industrial output has slumped & other
timely survey highlights the severity of the economic fallout and any recovery post
Date Currency Event Previous
lock-down which has been extended till 31st May will be very slow. We are
maintaining our bearish view in rupee in coming week. Meanwhile euro rallied after 26th MAY USD CB Consumer Confidence 86.9
optimism creates for the fiscal package announced of €500 billion by both Germany
27th MAY EUR ECB Financial Stability Review -
& France is a welcome move towards fiscal union. However, the benefit to other
members especially Italy which is the most affected during on-going pandemic 28th MAY USD Durable Goods Orders m/m -14.7%
crisis would be little more than roughly 2-3% of Italian GDP over a period of one
28th MAY USD Unemployment Claims 2438K
year. We will get the entire details of fiscal roadmap on 27th May (Thursday) that
which member’s countries are in and who is opposing. Apparently it is a 28th MAY USD Prelim GDP q/q -4.8%
complicated process and any hint for the failure of interest amongst euro zone 29th MAY USD Personal Spending m/m -7.5%
members will push euro to fall further. Going forward next week how US-China
trade war flare up and further implementation of fiscal roadmap in euro zone will 29th MAY USD Fed Chair Powell Speaks -
guide the forex move.

Technical Recommendation USD/INR EUR/INR

USD/INR (MAY) contract closed at 75.5250 on 21-May-2020. The contract made its EUR/INR (MAY) contract closed at 82.9825 on 21-May-2020. The contract made its
high of 76.1400 on 18-May-2020 and a low of 75.4800 on 21-May-2020 (Weekly Basis). high of 83.0900 on 21-May-2020 and a low of 81.9425 on 18-May-2020 (Weekly
The 21-day Exponential Moving Average of the USD/INR is currently at 75.87 Basis).The 21-day Exponential Moving Average of the EUR/INR is currently at 82.53
On the daily chart, the USD/INR has Relative Strength Index (14-day) value of On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 52.51.
49.24. One can buy @ 75.50 for the target of 76.50 with the stop loss of 74.99. One can buy at 82.60 for a target of 83.30 with the stop loss of 82.10.

GBP/INR JPY/INR

GBP/INR (MAY) contract closed at 92.3700 on 21-May-2020. The contract made its JPY/INR (MAY) contract closed at 70.0950 on 21-May-2020. The contract made its
high of 92.9375 on 20-May-2020 and a low of 91.7500 on 18-May-2020 (Weekly Basis). high of 70.9575 on 18-May-2020 and a low of 70.0650 on 21 May-2020 (Weekly Basis).
The 21-day Exponential Moving Average of the GBP/INR is currently at 93.28. The 21-day Exponential Moving Average of the JPY/INR is currently at 70.64
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 41.18. On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 49.1.
One can sell at 92.65 for a target of 91.75 with the stop loss of 93.15. One can buy at 70.00 for a target of 71.00 with the stop loss of 69.50.

14
IPO
IPO TRACKER

Company Sector M.Cap (In Rs Cr.) Issue Size (in Rs Cr.) List Date Issue Price List Price Last Price* %Gain/Loss
SBI Cards & Payments Services Ltd Credit Card 49318.71 10355.00 30-Dec-19 755.00 658.00 542.35 -28.17
Prince Pipes & Fittings Private Ltd Plastic Pipes 851.73 500.00 30-Dec-19 178.00 160.00 77.45 -56.49
Ujjivan Small Finance Bank Ltd Bank 4652.61 750.00 12-Dec-19 37.00 56.76 26.95 -27.16
Vishwaraj Sugar Industries Ltd Sugar 240.17 60.00 15-Oct-19 60.00 61.20 63.90 6.50
IRCTC Limited Railway 22417.79 645.12 14-Oct-19 320.00 644.00 1400.00 337.50
Sterling and Wilson Solar Ltd. Solar 2287.75 3125.00 20-Aug-19 780.00 706.00 142.55 -81.72
Spandana Sphoorty Financial Ltd. NBFC 2930.93 1200.00 19-Aug-19 856.00 825.00 455.35 -46.80
Affle India Limited E-Commerce 3766.76 460.00 8-Aug-19 745.00 929.00 1476.20 98.15
Indiamart Intermesh Limited Online Services 7243.40 475.00 4-Jul-19 973.00 1180.00 2505.10 157.46
Neogen Chemicals Limited Chemicals 1046.80 132.35 8-May-19 215.00 251.00 448.25 108.49
CSB Bank Ltd Bank 2024.97 410.00 30-Apr-19 195.00 275.00 115.80 -40.62
Polycab India Ltd Cable 9514.99 1346.00 16-Apr-19 538.00 633.00 639.30 18.83
Metropolis Healthcare Limited Healthcare 6382.59 1204.00 15-Apr-19 880.00 960.00 1257.35 42.88
Rail Vikas Nigam Ltd Railway 3682.98 481.57 11-Apr-19 19.00 19.00 17.65 -7.11
MSTC Ltd Trading 680.96 212.00 29-Mar-19 128.00 111.00 96.70 -24.45
Garden Reach Sh. Ship Building 1597.55 345.00 10-Oct-18 118.00 104.00 139.40 18.14
AAVAS Financiers Finance 8450.07 1734.00 8-Oct-18 821.00 758.00 1080.35 31.59
Ircon Intl. Infra. Developers & Operators 3941.54 470.00 28-Sep-18 475.00 410.30 83.70 -82.38
CreditAcc. Gram. Finance 6015.73 1131.00 23-Aug-18 422.00 393.00 418.75 -0.77
HDFC AMC Finance 52368.00 2800.00 6-Aug-18 1100.00 1726.25 2460.10 123.65
TCNS Clothing Textiles 2096.11 1125.00 30-Jul-18 716.00 715.00 338.85 -52.67
Varroc Engineer Auto Ancillaries 1756.64 1945.00 6-Jul-18 967.00 1015.00 130.60 -86.49
Fine Organic Chemicals 6057.55 600.00 6-Jul-18 783.00 815.00 1974.60 152.18
Rites Infra. Developers & Operators 5698.27 460.00 6-Jul-18 185.00 190.00 227.80 23.14
Indostar Capital Finance 2570.90 1844.00 21-May-18 572.00 600.00 277.80 -51.43
Lemon Tree Hotel Hotels & Restaurants 1194.32 1038.00 9-Apr-18 56.00 61.60 15.15 -72.95
ICICI Sec Finance 12069.08 4016.00 4-Apr-18 520.00 431.10 372.90 -28.29
Mishra Dhatu Nig Steel 3649.47 439.00 4-Apr-18 90.00 87.00 194.50 116.11
Karda Construct. Construction 183.48 78.00 2-Apr-18 180.00 136.00 149.00 -17.22
Sandhar Tech Auto Ancillaries 855.99 513.00 2-Apr-18 332.00 345.00 139.80 -57.89
Hind.Aeronautics Capital Goods 17885.53 4229.00 28-Mar-18 1240.00 1169.00 533.05 -57.01
Bandhan Bank Banks 33979.53 4473.00 27-Mar-18 375.00 485.00 210.75 -43.80
Bharat Dynamics Capital Goods 4217.90 961.00 23-Mar-18 428.00 360.00 229.30 -46.43
H.G. Infra Engg. Construction 1042.59 4229.00 9-Mar-18 270.00 270.00 159.15 -41.06
Aster DM Health. Healthcare 4152.73 981.00 26-Feb-18 190.00 182.10 83.80 -55.89
Galaxy Surfact. FMCG 4661.21 937.00 8-Feb-18 1480.00 1520.00 1310.60 -11.45
Chalet Hotels Hotels & Restaurants 2113.42 1641.00 7-Feb-18 280.00 294.00 103.00 -63.21
Xelpmoc Design IT 60.28 23.00 4-Feb-18 66.00 56.00 43.95 -33.41
Amber Enterp. Consumer Durables 3729.06 600.00 30-Jan-18 859.00 1180.00 1182.35 37.64
Newgen Software IT - Software 1048.23 424.00 29-Jan-18 245.00 253.00 151.90 -38.00
Apollo Micro Sys IT - Software 176.80 156.00 22-Jan-18 275.00 478.00 85.10 -69.05
Astron Paper Paper 127.05 70.00 28-Dec-17 50.00 120.00 27.60 -44.80
Future Supply Logistics 549.86 650.00 18-Dec-17 664.00 674.00 125.20 -81.14
Shalby Healthcare 647.39 504.00 15-Dec-17 248.00 237.00 60.45 -75.63
HDFC Stand. Life Insurance 99759.27 8695.00 17-Nov-17 290.00 311.00 494.20 70.41
Khadim India Leather 145.13 544.00 14-Nov-17 750.00 727.00 80.70 -89.24
New India Assura Insurance 19049.52 9600.00 13-Nov-17 800.00 748.90 115.55 -85.56
Mahindra Logis. Logistics 1852.25 830.00 10-Nov-17 429.00 432.00 256.75 -40.15
Reliance Nip.Lif Finance 14659.47 1542.00 6-Nov-17 252.00 294.00 239.25 -5.06
General Insuranc Insurance 21903.52 11373.00 25-Oct-17 912.00 850.00 124.95 -86.30
Indian Energy Ex Finance 4896.41 1000.00 23-Oct-17 1650.00 1500.00 164.10 -90.05
MAS FINANC SER Finance 2996.49 460.00 18-Oct-17 459.00 660.00 546.45 19.05
Godrej Agrovet Miscellaneous 7124.26 1157.00 16-Oct-17 460.00 621.00 370.50 -19.46
Prataap Snacks FMCG 1123.71 482.00 5-Oct-17 938.00 1250.00 478.50 -48.99
SBI Life Insuran Insurance 73100.18 8400.00 3-Oct-17 700.00 733.30 729.90 4.27
*Closing price as on 21-05-2020

15
FIXED DEPOSIT MONITOR

FIXED DEPOSIT COMPANIES

PERIOD MIN.
S.NO NBFC COMPANY - NAME ADDITIONAL RATE OF INTEREST (%) INVESTMENT
12M 18M 24M 36M 48M 60M 84M (`)

0.25% EXTRA FOR SR. CITIZEN OR 0.10% EXTRA

FOR EXISTING CUSTOMER (15 DAYS GAP IN
1 BAJAJ FINANCE LTD.(UPTO ` 5 CR.) 7.40 - 7.45 7.50 - 7.60 7.60 - FIRST & SECOND DEPOSIT) & 0.10% EXTRA IN ` 25000/-
RENEWAL UPTO RS.5 CR.

HDFC LTD - REGULAR DEPOSIT FOR INDIVIDUAL &

2 6.88 - 6.88 6.88 - 6.88 6.88 - 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.
TRUST (UPTO ` 2 CR.)

HDFC LTD - REGULAR FOR INDIVIDUAL & TRUST

3 6.93 - 6.93 6.93 - 6.93 6.93 - 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.
(> ` 2 CR TO ` 5 CR)

HDFC LTD - PREMIUM DEPOSIT FOR INDIVIUAL

4 15M=6.93 22M=7.03 30M=6.98 44M=7.03 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR. ` 20000/- BUT
(UPTO ` 2 CR.)
` 40000/-
IN MONTHLY
HDFC LTD - PREMIUM DEPOSIT FOR TRUST OPTION
5 15M=6.98 - - 30M=6.98 - - 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.
(UPTO ` 2 CR.)

HDFC LTD - SPECIAL DEPOSIT FOR INDIVIDUAL

6 33M=7.08 - - 66M=7.08 - - 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.
(UPTO ` 2 CR.)

HDFC LTD - SPECIAL DEPOSIT FOR TRUST 33M=7.03 - - 66M=7.03 - - 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.
7 (UPTO ` 2 CR.)

8 ICICI HOME FINANCE (UPTO RS. 2 CR.) 7.00 - 7.20 7.25 - 7.30 7.35 7.50 0.25% EXTRA FOR SR. CITIZEN ` 10000/-

25M= 40M= 65M= 90M= 105M= 120M= - -

9 ICICI HOME FINANCE (UPTO RS. 2 CR.) 7.25% 7.30% 7.50% 7.55% 7.60% 7.70% 0.25% EXTRA FOR SR. CITIZEN ` 10000/-

0.50% ADD. INTEREST TO SR. CITIZEN,

10 J K LAKSHMI CEMENT LTD 8.00 - 8.25 8.35 - - - - EMPLOYEES, SHAREHOLDERS AND PERSON ` 25000/-
INVESTING ` 5 LACS AND ABOVE - MAX. 0.50%

11 KTDFC (KERALA TRANSPORT) 8.00 - 8.00 8.00 - 7.75 7.75 - 0.25% EXTRA FOR SR. CITIZEN ` 10000/-

0.25% FOR SENIOR CITIZEN IF APP ABOVE

12 LIC HOUSING FINANCE LTD.(LESS THAN ` 20 CR.) 7.00 7.00 7.00 7.10 - - 7.10 - ` 10000/-
` 50,000/- & 0.10% IF APP UPTO ` 50,000/-

13 M&M FINANCIAL SERVICES LTD (UPTO ` 1 CRORE) 7.20 7.30 7.50 7.60 - 7.70 7.80 - 0.25% FOR SENIOR CITIZEN ` 10000/-

13 PNB HOUSING FINANCE LTD.(UPTO ` 5 CR.) 7.20 - 7.30 7.60 - 7.70 7.75 7.75 0.25% EXTRA FOR SR. CITIZEN UPTO RS.1 CRORE ` 10000/-

0.25% FOR SENIOR CITIZEN,

14 SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME 7.60 - 7.80 8.30 - 8.30 8.50 - ` 5000/-
0.25% EXTRA FOR RENEWALS

0.25% FOR SENIOR CITIZEN,

15 SHRIRAM CITY UNION SCHEME 7.80 - 8.05 8.45 - 8.45 8.75 - 0.25% EXTRA FOR RENEWALS
` 5000/-

* Interest Rate may be revised by company from time to time. Please confirm Interest rates before submitting the application.
* For Application of Rs.50 Lac & above, Contact to Head Office.
* Email us at fd@smcindiaonline.com

16
MUTUAL FUND
INDUSTRY & FUND UPDATE

Aditya Birla SL bars fresh inflows in two debt funds; but no restrictions on redemptions
Aditya Birla Sun Life Mutual Fund has temporarily suspended fresh subscriptions and switch-in applications in Aditya Birla Sun Life Medium Term Plan
(ABMTP) and Aditya Birla Sun Life Credit Risk Fund (ACRF). The fund house has suspended new investments in these schemes from May 22, 2020.
Redemptions from these funds, though, will be allowed, as usual.

SEBI allows listing of mutual fund units of schemes in process of winding up

The Securities and Exchange Board of India has allowed listing of mutual fund units of the schemes that are in the process of winding up on the stock
exchanges with immediate effect. This move will allow Franklin Templeton Mutual Fund to list their units for those investors who wish to exit. On April
23, Franklin Templeton Mutual Fund had said it would wind up six schemes - Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund,
Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities
Fund - citing severe illiquidity and redemption pressures caused by the COVID-19 pandemic.

SEBI allows mutual funds to invest additional 15% AUM in G-Sec, T-bills
The Association of Mutual Funds in India (AMFI) has written to the Securities and Exchange Board of India (SEBI) seeking investment in G-Sec, T-bills for
Corporate Bond Fund, Banking & PSU Fund, and Credit Risk Fund. Responding to AMFI, SEBI has said mutual funds can invest additional 15 percent of
AUM in G-Secs & T-Bills in corporate bond, banking & PSU and credit risk funds. G-Secs & T-Bills are considered to be safer and most liquid form of
instrument. The regulator has said that such additional investment in G-secs or T-Bills is optional for asset management companies. SEBI aims to make
the portfolio of these three category of funds liquid given that the fund houses witnessed tremendous redemption pressure particularly after Franklin
Templeton Mutual Fund shut its six schemes creating panic.

FUND HOUSE PERFORMANCE

Equity
Mutual Fund Date 7 Days 15 Days 31 Days 91 Days 182 Days 1 Year 3 Years 5 Years
ICICI Prudential Mutual Fund 20-May-2020 4.75 2.57 5.02 -4.65 1.86 18.57 16.31 12.03
Nippon India Mutual Fund 20-May-2020 6.16 4.95 13.95 -3.13 5.72 18.17 17.98 N.A
PPFAS Mutual Fund 21-May-2020 1.79 3.63 6.29 -13.57 -8.16 -1.39 7.06 7.95
Franklin Templeton Mutual Fund 20-May-2020 2.28 1.65 8.42 -12.28 -2.03 -3.37 6.41 4.05
Mirae Asset Mutual Fund 21-May-2020 -0.63 -0.30 -0.19 -17.39 -13.48 -6.54 0.42 2.75

Balanced
Mutual Fund Date 7 Days 15 Days 31 Days 91 Days 182 Days 1 Year 3 Years 5 Years
BNP Paribas Mutual Fund 21-May-2020 0.40 0.20 1.06 -16.26 -11.47 -2.05 4.31 N.A
Edelweiss Mutual Fund 21-May-2020 -0.58 -0.64 0.43 -8.87 -6.30 -2.30 2.67 2.99
Motilal Oswal Mutual Fund 21-May-2020 -1.06 -0.75 -0.61 -16.12 -12.03 -3.21 N.A N.A
Canara Robeco Mutual Fund 21-May-2020 -0.40 0.16 0.91 -14.92 -9.52 -5.20 3.77 6.47
Quant Mutual Fund 21-May-2020 1.50 1.17 4.67 -13.90 -11.54 -6.19 0.93 2.13

Debt
Mutual Fund Date 7 Days 15 Days 31 Days 91 Days 182 Days 1 Year 3 Years 5 Years
Quantum Mutual Fund 21-May-2020 0.13 -0.10 0.79 2.57 6.13 11.90 7.11 4.08
Union Mutual Fund 21-May-2020 0.34 0.58 1.28 2.51 5.31 9.87 3.33 3.05
ICICI Prudential Mutual Fund 21-May-2020 0.38 0.67 0.94 1.70 3.85 9.25 2.27 1.48
Kotak Mahindra Mutual Fund 21-May-2020 0.35 0.68 0.84 1.49 3.74 9.23 1.66 1.84
ICICI Prudential Mutual Fund 18-May-2020 0.03 0.10 0.29 1.31 3.05 9.10 7.82 N.A

Gilt
Mutual Fund Date 7 Days 15 Days 31 Days 91 Days 182 Days 1 Year 3 Years 5 Years
Nippon India Mutual Fund 21-May-2020 0.42 0.16 1.85 4.37 7.81 16.00 9.95 10.35
Aditya Birla Sun Life Mutual Fund 21-May-2020 0.42 0.38 2.17 5.06 7.64 15.81 8.74 9.07
SBI Mutual Fund 21-May-2020 0.59 0.36 2.19 4.67 7.79 15.72 7.97 8.18
LIC Mutual Fund 21-May-2020 0.42 0.17 1.66 4.32 7.11 15.70 8.74 8.50
Axis Mutual Fund 21-May-2020 0.39 -0.24 1.66 4.84 7.82 15.38 6.38 6.82

Liquid
Mutual Fund Date 7 Days 15 Days 31 Days 91 Days 182 Days 1 Year 3 Years 5 Years
UTI Mutual Fund 21-May-2020 0.22 0.37 0.42 1.24 2.41 5.51 5.01 3.72
Tata Mutual Fund 21-May-2020 0.21 0.36 0.53 1.41 2.54 5.50 3.42 3.79
HDFC Mutual Fund 21-May-2020 0.23 0.39 0.59 1.55 2.62 5.40 5.54 5.69
Aditya Birla Sun Life Mutual Fund 21-May-2020 0.20 0.35 0.47 1.41 2.54 5.34 4.51 4.38
Kotak Mahindra Mutual Fund 21-May-2020 0.15 0.30 0.51 1.36 2.45 5.32 4.53 4.61
Note: The above mentioned data is on the basis of period: 1 year & Closing 21/05/2020

17
MUTUAL FUND Performance Charts

EQUITY (Diversified)

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
Parag Parikh Long Term Equity F - R - G 24.29 24-May-2013 2721.94 -13.66 -8.36 -1.80 6.69 13.52 2.26 0.70 0.07 41.41 14.80 9.45 34.34
Axis Midcap Fund - Growth 34.95 18-Feb-2011 4763.68 -18.26 -10.80 -2.07 7.31 14.47 2.38 0.73 0.08 15.25 66.76 0.85 17.14
SBI Magnum Global Fund - Growth 157.56 30-Sep-1994 3611.02 -14.19 -10.95 -4.70 2.14 13.30 2.23 0.65 -0.03 50.77 24.74 17.93 6.56
Axis Growth Opportunities F- R - G 10.12 22-Oct-2018 998.45 -19.55 -13.80 -4.87 N.A 0.76 2.51 0.77 0.06 37.92 33.46 0.48 28.15
Canara Robeco Bluechip Equity F - G 22.82 20-Aug-2010 334.32 -19.82 -14.40 -8.22 3.46 8.82 2.59 0.89 0.10 84.45 10.73 N.A 4.82
Axis Multicap Fund - Reg - Growth 10.59 20-Nov-2017 5617.69 -20.32 -15.35 -8.61 N.A 2.32 2.44 0.81 0.08 77.95 3.06 0.84 18.15
Tata Ethical Fund - Reg - Growth 141.88 24-May-1996 551.69 -16.30 -11.92 -8.64 0.33 14.39 2.38 0.76 -0.03 52.72 31.70 5.48 10.10

TAX Fund

Returns (%) Risk Market Cap (%)

Scheme Name NAV Launch QAAUM 3M 6M 1Y 3Y Since Std.Dev Beta Jenson LARGE MID SMALL DEBT &
(`) Date (` Cr.) Launch CAP CAP CAP OTHER
BOI AXA Tax Advantage Fund - Eco - G 50.80 25-Feb-2009 268.62 -20.53 -11.54 -4.52 3.29 15.56 2.72 0.85 -0.04 49.23 29.17 13.35 8.24
BOI AXA Tax Advantage Fund - Reg - G 47.75 25-Feb-2009 268.62 -20.67 -11.84 -5.17 2.51 14.92 2.72 0.85 -0.05 49.23 29.17 13.35 8.24
Axis Long Term Equity Fund - Growth 39.93 29-Dec-2009 21176.20 -22.97 -17.04 -10.33 3.91 14.24 2.84 0.94 0.06 78.54 13.74 3.53 4.20
BNP Paribas Long Term Equity Fund - G 33.70 05-Jan-2006 457.04 -21.96 -16.92 -10.77 0.01 8.81 2.51 0.84 0.01 71.66 21.33 2.06 4.95
Canara Robeco Equity Tax Saver F - G 57.85 02-Feb-2009 997.89 -21.71 -14.52 -11.51 2.39 16.80 2.81 0.93 0.10 65.84 22.11 8.02 4.03
IDBI Equity Advantage Fund - Reg - G 22.15 10-Sep-2013 539.00 -22.34 -19.80 -13.78 -2.11 12.61 2.54 0.79 -0.09 47.13 45.02 5.60 2.25
Invesco India Tax Plan - Growth 43.15 29-Dec-2006 985.62 -24.00 -18.60 -14.25 0.66 11.53 2.80 0.95 0.01 72.57 17.44 5.25 4.74

BALANCED
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
Edelweiss Balanced Advantage Fund - G 23.05 20-Aug-2009 1426.79 -8.89 -6.34 -2.41 3.61 8.07 1.54 0.03 49.18 19.84 2.51 28.48
Tata Balanced Advantage Fund - R - G 9.90 28-Jan-2019 1064.97 -9.11 -8.31 -4.64 N.A -0.76 1.73 0.04 60.04 11.60 0.40 27.97
Canara Robeco Equity Hybrid F - G 150.13 01-Feb-1993 2938.28 -14.95 -9.55 -5.25 3.53 10.57 1.92 0.06 50.53 16.00 2.89 30.57
DSP Equity & Bond Fund - Growth 139.55 27-May-1999 6235.97 -19.58 -13.51 -7.53 0.62 13.37 2.21 0.03 48.70 17.81 4.24 29.25
Axis Equity Hybrid Fund - Reg - Growth 9.32 09-Aug-2018 1622.97 -19.10 -15.81 -9.23 N.A -3.87 2.14 0.05 58.85 8.83 1.64 30.68
HSBC Equity Hybrid Fund - Reg - G 9.73 22-Oct-2018 594.35 -17.36 -13.34 -9.42 N.A -1.72 2.26 0.03 58.42 11.86 1.15 28.56
SBI Equity Hybrid Fund - Growth 122.21 09-Oct-1995 31504.30 -18.83 -15.15 -9.70 3.13 14.48 1.96 0.02 57.91 11.31 3.35 27.43

INCOME FUND
Returns (%) Risk
Average Yield till
Scheme Name NAV Launch QAAUM Annualised Since Std. Sharpe
Maturity (Years) Maturity
(`) Date (`Cr.) 1W 2W 1M 6M 1Y 3Y Launch Dev.
DSP Strategic Bond Fund - Reg - Growth 2525.04 12-Nov-2008 992.66 21.59 7.54 25.82 16.93 16.95 8.62 8.37 40.00 0.13 8.39 6.20
Nippon India Nivesh Lakshya F - R - G 13.14 06-Jul-2018 724.14 22.04 5.83 25.20 16.16 16.89 N.A 15.65 45.71 0.19 25.51 6.82
ICICI Pru Long Term Bond Fund - G 69.26 09-Jul-1998 825.90 28.60 10.71 24.23 15.80 16.14 9.57 9.25 37.28 0.16 N.A 6.88
IDFC D B F - Reg - Growth 26.06 03-Dec-2008 2052.46 19.42 9.72 26.50 16.43 16.00 8.73 8.71 29.77 0.19 9.08 6.45
L&T Triple Ace Bond Fund - Reg - Growth 54.03 31-Mar-1997 2795.73 25.82 27.43 21.11 13.86 15.87 9.29 7.56 36.63 0.14 7.75 7.26
SBI Dynamic Bond Fund - Growth 26.73 09-Feb-2004 1283.99 23.77 4.98 21.00 14.57 15.75 8.71 6.22 26.15 0.19 10.63 6.47
Edelweiss Banking & PSU Debt F - R - G 17.93 13-Sep-2013 173.53 9.65 15.34 18.20 13.86 15.16 9.50 9.12 34.17 0.15 8.84 7.22

SHORT TERM FUND Due to their inherent short term nature, Short term funds have been sorted on the basis of 6month returns

Returns (%) Risk Average Yield till

Scheme Name NAV Launch QAAUM Annualised Since Std. Sharpe Maturity (Years) Maturity
(`) Date (`Cr.) 1W 2W 1M 6M 1Y 3Y Launch Dev.
DSP Banking & PSU Debt F - R - Growth 17.79 14-Sep-2013 2400.72 29.62 28.06 22.73 11.10 12.11 8.43 9.00 20.06 0.18 3.82 6.08
IDFC Bond Fund - Medium Term Plan - R - G 35.03 08-Jul-2003 2999.05 19.20 13.43 16.17 10.71 11.47 7.84 7.71 18.96 0.17 4.71 6.68
Aditya Birla Sun Life Corporate Bond F - R - G 80.24 03-Mar-1997 17571.30 21.76 19.90 17.53 10.67 10.93 8.48 9.38 14.67 0.22 4.45 6.89
IDFC Banking & PSU Debt Fund - Reg - G 18.15 07-Mar-2013 13458.90 28.16 30.24 19.82 10.53 12.28 8.93 8.62 23.34 0.18 2.93 6.60
L&T Short Term Bond Fund - Reg - G 19.93 27-Dec-2011 5259.59 25.84 23.63 17.77 10.33 10.78 8.09 8.55 15.46 0.19 2.68 6.12
Kotak Dynamic Bond Fund - Reg - Growth 27.39 26-May-2008 1129.93 23.12 20.26 21.85 10.19 12.02 8.88 8.76 23.75 0.18 5.85 7.50
SBI Corporate Bond Fund - Reg - Growth 11.47 01-Feb-2019 11191.90 25.16 23.51 17.59 9.90 11.37 N.A 11.14 23.51 0.17 3.42 6.66
Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 21/05/2020
Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 6%

*Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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