Professional Documents
Culture Documents
2019: Issue 687, Week: 10th - 14th June (For private circulation only)
WISE M NEY
LOOK UP TO
G
Equity 4-7 lobal markets saw declines as investors were cautious after U.S. President
Derivatives 8-9 said that he may raise tariff on another $325 billion of Chinese goods by the
Commodity 10-13 end of this month. To alleviate growth concerns as a consequence of trade
Currency 14 war, central bankers including U.S. Federal Reserve and European Central
IPO 15 Bankindicated to easier policies in response to deterioration in outlook. Expectations
FD Monitor 16
of rate cut by U.S. is continuously rising and global monetary policy seems to be on the
Mutual Fund 17-18
loosening side just after when some of central bankers showed their intent to shift
away from the policies initiated in the past decade. Japan saw contraction in exports
SMC GLOBAL SECURITIES LTD. for the consecutive fifth month adding pressure on central bank.
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Back at home, to give a boost to the sagging economy, the Reserve Bank of India (RBI)
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MUMBAI OFFICE:
has lowered its repo rate to a nearly nine-year low of 5.75 percent and changed its
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However market closed the week on a flat note as the RBI did not make any
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announcement to tackle liquidity stress facing by NBFC. Furthermore, the sentiment
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soured on the back of weak global cues. The fall witnessed in crude prices as a
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10/A, 4th Floor, Kalapurnam Building, Near Municipal Market, on external trade, fiscal pressure and last but not the least fuel induced inflationary
C G Road, Ahmedabad-380009, Gujarat pressures. Going forward market will keep close eye on the outcome of FED meeting,
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which is scheduled next with amid inflation and IIP data from home. Besides crude oil
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commodities in the month of May. S&P GSCI was down 8.2% for the month but
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EQUITY
4
EQUITY
INDIAN INDICES (% Change) SECTORAL INDICES (% Change)
0.50 5.00
0.27
4.00 3.79
0.00
3.13
3.00
-0.50
2.00 1.74
-0.66 1.54 1.58 1.65
-0.84
-1.00
1.00 0.77
0.71 0.67
-1.09
-1.31
-1.50 0.00
-1.67 -0.52
-1.00
-2.00
Ni y Sensex BSE Midcap BSE Smallcap Ni y Next 50 S&P CNX 500
-2.00
SMC Trend
Nifty Sensex BSE Midcap BSE Smallcap Nifty Junior S&P CNX 500 -2.54
-3.00
Auto Index Bankex Cap Goods Cons Durable FMCG Index Healthcare IT Index Metal Index Oil & Gas Index Power Index Realty Index
Index Index Index
-0.66
-1.00
-1.21
-1.48
-1.73
-2.00
-2.04
-3.00
-3.00
-4.00
Auto Index Bankex Cap Goods Cons Durable FMCG Index Healthcare IT Index Metal Index Oil & Gas Index Power Index Realty Index
Index Index Index
SMC Trend
Nasdaq Nikkei Hang Seng FTSE 100
Dow jones Strait times Shanghai CAC 40
S&P 500
FII / FPI Activity DII trading activity
Up Down Sideways
BSE SENSEX TOP GAINERS & LOSERS (% Change) NSE NIFTY TOP GAINERS & LOSERS (% Change)
8.00 10.00
5.90 6.17
6.00
5.00 4.05
3.25
3.71 2.75 2.73
4.00 3.38
2.94
2.23
0.00
2.00
0.00
-5.00 -4.43
-4.59
-5.15
-6.45
-2.00
-4.40 -12.38
-5.14
-6.00 -15.00
Coal India Hero Power Grid Hind. Unilever Bajaj Auto IndusInd Bank St Bk of India Yes Bank ICICI Bank Larsen & Coal India Hero Motocorp Power Grid Hind. Unilever Titan Company GAIL (India) Indiabulls IndusInd Bank Zee St Bk of India
Motocorp Corpn Toubro Corpn Hous. Entertainmen
5
EQUITY
Beat the street - Fundamental Analysis
NTPC LIMITED CMP: 136.00 Target Price: 156 Upside: 15%
VALUE PARAMETERS Investment Rationale • The total installed capacity of Rihand Super
Face Value (Rs.) 10.00 • NTPC is India's largest energy conglomerate with Thermal Power Project has become 3000 MW
presence in the entire value chain of the power (6x500MW) and the company plans to become
52 Week High/Low 146.25/106.75 generation business. 128,000 MW plus company by 2032.
M.Cap (Rs. in Cr.) 134565.98 • It is setting up 400 EV charging stations across various • Out of the total capacity under implementation,
EPS (Rs.) 11.88 cities and highways and already MOU has signed with 1329 MW is based on diversified sources of
major city administration, vehicle aggregators, fleet renewable energy. The Company is quickly moving
P/E Ratio (times) 11.45 operators and state governments. It has signed MOU towards its ambition of achieving a solar portfolio
P/B Ratio (times) 1.25 with East Delhi Municipal Corporation setting up of 10 GW, out of the 100 GW target of GoI by 2022.
Waste to Energy (WTE). The plant to process 200 Risk
Dividend Yield (%) 4.47
tones of municipal waste per day. • Risks related to coal mining
Stock Exchange BSE • NTPC has signed a supplementary JV agreement • Delay in execution of projects
% OF SHARE HOLDING with GE power Systems for foray into EPC market Valuation
for setting up FGD systems for state utilities sector The company is the most preferred power company and
and Waste to Energy project. These two areas are rationalization of movement of coal to reduce electricity
3.95 emerging markets of the country. NTPC qualified costs, and rationalization of coal grades based on Gross
11.52 for submission of RFQ for 600 MW PV project on Calorific Value for correct tariff fixation would give
Foreign
west of Nile river in Egypt. further boost to the financials of the company. Thus we
27.36 Institutions
56.19
Non Promoter Corp. Hold. • The company has added about 1960 MW in Q4FY19 expect the stock to see a price target of Rs 156 in 8 to 10
Promoters
Public & Others thus taking the standalone installed capacity to 47325 months time frame on 1 year expected P/E of 12.05x and
MW. The group capacity as end of March 31, 2019 was FY20E earnings of Rs.12.98.
0.99 at 55126 MW. Addition to commercial capacity during P/E Chart
Q4FY19 was about 1160 MW with standalone 200.00
` in cr
commercial capacity as end of March 31, 2019 stand at 180.00
ACTUAL ESTIMATE 45725 MW and that of Group at 52682 MW. 160.00
140.00
FY Mar-18 FY Mar-19 FY Mar-20
• In Q4FY19 the company participated in 250 MW SECI 120.00
Revenue 88083.31 97537.34 104352.19 tender for solar park and got mandate for setting up 100.00
80.00
Ebitda 22420.46 24109.51 29645.58 100 power plant at a levellized tariff of Rs 2.91/units 60.00
Ebit 14960.53 16421.41 20536.95 applicable for 25 years. The unit will be set up under 40.00
20.00
Net Income 10543.95 12640.02 12833.68 EPC mode by the company and add to the RE 0.00
capacity of the company. With this the company's
21-Apr-15
28-Apr-16
16-Feb-15
22-Feb-16
7-Aug-14
19-Jun-15
27-Jun-16
16-Dec-14
22-Dec-15
29-Dec-16
13-Mar-19
13-Oct-14
3-Nov-17
3-Jan-18
18-Aug-15
20-Oct-15
26-Aug-16
30-Oct-16
4-May-17
4-Sep-17
9-May-18
6-Sep-18
9-Jun-14
4-Jul-17
6-Jul-18
1-Mar-17
7-Mar-18
12-Nov-18
11-Jan-19
17-May-19
EPS 10.66 12.77 12.98
BVPS 104.67 111.21 116.81
solar capacity won under TBCB mode has gone up to
345 MW. Investment approval was given for 85 MW of
RoE 10.47% 12.77% 11.32%
Bilal Solar PV park won by the company in Feb 2019. 9 11 13 14 Close Price
BHARAT ELECTRONICS LIMITED CMP: 106.95 Target Price: 155 Upside: 45%
VALUE PARAMETERS Investment Rationale • The management has clear focus on recoverability
Face Value (Rs.) 1.00 • Bharat Electronics Limited (BEL) is engaged in design, of receivables which has led to efficient working
manufacture and supply of electronics capital management. Strong execution in FY20E-
52 Week High/Low 124.20/72.55 21E coupled with steady capex of 600-650 crore in
products/systems for the defense requirements, as
M.Cap (Rs. in Cr.) 26059.36 well as for nondefense markets. The company's the next two to three years will help avert any debt
EPS (Rs.) 7.74 principal products/services include weapon systems, on the books of BEL.
radar and fire control systems, and communication. Risk
P/E Ratio (times) 13.81
• BEL reported order inflow of Rs. 6929 Crores mainly • Delay in finalization of defense orders.
P/B Ratio (times) 2.83 from ‘smart city’ and homeland security systems. It • Increasing competition from private players
Dividend Yield (%) 3.18 currently has an order book of Rs. 51800 Crores Valuation
which provides strong revenue visibility for next
Stock Exchange BSE BEL is well positioned to benefit from the rising defense
some years. The management has guided for
revenue growth at 13-15% for FY20E and at a similar expenditure, supported by strong manufacturing base
% OF SHARE HOLDING and execution track record, relationship with defense
level for FY21E. BEL is setting up utility scale solar
power plants for captive consumption in the and government agencies, strategic collaboration with
estates of ordinance factories at 17 locations foreign technology partners for new product
8.08 7.49
across eight states for total capacity of 150 MW. development, in-house R&D capabilities and increased
22.88 Foreign focus on exports to friendly countries. We expect the
Institutions • Q4 FY19 witnessed continued order booking in stock to see a price target of Rs 155 in 8-10 months time
Non Promoter Corp. Hold.
58.83 Promoters projects like Integrated Air Command and Control frame on a two year average PEx of 20.94 times and
2.73
Public & Others System (IACCS), weapon locating radar, FY20E earnings per share of Rs. 7.41.
electronic warfare systems and communication
equipment. To increase contribution from this P/E Chart
` in cr
segment, BEL has already set up an office in Vietnam 300.00
ACTUAL ESTIMATE and is planning offices in Sri Lanka and Myanmar. The 250.00
FY Mar-18 FY Mar-19 FY Mar-20 export order book as at end Q4 FY19 was at Rs. 816 200.00
Ebitda 2035.21 2906.23 2805.92 • Q4 FY19 revenue was up 7.7% YoY at Rs 3884.64 Crores. 100.00
Ebit 1763.49 2568.10 2473.06 EBITDA margin expanded 185 bps YoY to 23.9% led by 50.00
Pre-tax Profit 1957.03 1927.00 2482.67 485 bps YoY expansion in gross margin. Other income
0.00
Net Income 1431.72 1886.40 1805.51 was up 362% YoY at Rs Rs. 128.79 Crores. Net profit
21-Apr-15
28-Apr-16
16-Feb-15
22-Feb-16
7-Aug-14
19-Jun-15
27-Jun-16
16-Dec-14
22-Dec-15
29-Dec-16
13-Mar-19
13-Oct-14
3-Nov-17
3-Jan-18
18-Aug-15
20-Oct-15
26-Aug-16
30-Oct-16
4-May-17
4-Sep-17
9-May-18
6-Sep-18
9-Jun-14
4-Jul-17
6-Jul-18
1-Mar-17
7-Mar-18
12-Nov-18
11-Jan-19
17-May-19
Above calls are recommended with a time horizon of 8 to 10 months. Source: Company Website Reuters Capitaline
6
EQUITY
The stock closed at Rs 357.10 on 07th June, 2019. It made a 52-week low of Rs
253.99 on 22nd October 2018 and a 52-week high of Rs. 366.06 on 01st Aug 2018.
The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart
is currently at Rs 318.19
As we can see on weekly chart that stock is trading in higher highs and higher
lows and also has given the breakout of 200 WEMA, which is considered to be
bullish. Last week, stock ended over 2% gains and also has breached its earlier
resistance of 355 along with high volumes which indicates buying is aggressive
for the stock. So one can initiate long in the range of 350-355 levels for the
upside target of 380-390 levels with SL below 335.
The stock closed at Rs 265.55 on 07th June, 2019. It made a 52-week low at Rs
211.40 on 14th Feb 2019 and a 52-week high of Rs. 299.75 on 28th August 2018.
The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart
is currently at Rs 249.54
Short term and medium term bias are looking positive for the stock as it was
formed an “Inverted Head and Shoulder” pattern on weekly charts which is
bullish in nature. Last week, stock gained around 5% and has given the breakout
of pattern, also has managed to close above the same so follow up buying can
continue for coming days. Therefore, one can buy in the range of 258-261 levels
for the upside target of 280-286 levels with SL below 244.
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
7
DERIVATIVES
WEEKLY VIEW OF THE MARKET
Nifty dragged down due to liquidation of long positions. Recent data has turned cautious and is indicating probability of further profit booking. Call writing and
put unwinding are seen in recent trading sessions. Call writes were active in 12000, 11900 strike calls indicating limited upside. This clearly indicates lack of
buying interest and discomfort in the market. The levels of 12000 will remain crucial for this week as indicated by option open interest concentration. If Nifty
falls below the 11800 mark, it could correct to 11700 levels on the back of further selling. On bounce, the index will face strong resistance at 11950-12000 levels.
The options open interest concentration is at the 12000-strike calls with the highest open interest of above 38 lakh shares; among put options, the 11800-strike
taking the total open interest to 34 lakh shares, with the highest open interest among put options. The Implied Volatility (IV) of calls closed at 13.52% while that
for put options closed at 13.00%. The Nifty VIX for the week closed at 15.53% and is expected to remain sideways. The PCR OI for the week closed at 1.39 which
indicates put writing. Next support is placed around 11800-11770 levels.
DERIVATIVE STRATEGIES
BUY JUN 410 CALL 10.00 BUY JUN 520 PUT 11.40 BUY JUN 260 PUT 7.60
OPTION SELL JUN 430 CALL 3.85 SELL JUN 500 PUT 6.00 SELL JUN 250 PUT 4.00
STRATEGY
Lot size: 1800 Lot size: 900 Lot size: 1500
BEP: 416.15 BEP: 514.60 BEP: 256.40
Max. Profit: 24930.00 (13.85*1800) Max. Profit: 13140.00 (14.60*900) Max. Profit: 9600.00 (6.40*1500)
Max. Loss: 11070.00 (6.15*1800) Max. Loss: 4860.00 (5.40*900) Max. Loss: 5400.00 (3.60*1500)
NIFTY OPTION OI CONCENTRATION (IN QTY) (MONTHLY) CHANGE IN NIFTY OPTION OI (IN QTY) (MONTHLY)
In lakhs In lakhs
30.00 10.00
27.16
9.00
26.10
8.60
25.00 8.00
20.13
19.93
18.99
18.28
20.00 6.00
16.20
4.69
14.88
3.82
3.78
13.09
12.62
15.00 4.00
10.68
10.12
9.15
8.49
1.10
6.15
5.39
0.36
0.22
0.18
0.14
0.13
0.11
4.61
0.10
0.04
4.29
4.01
3.61
5.00 0.00
-0.05
-0.14
1.06
-0.17
-0.27
-0.52
-1.13
0.00 -2.00
9500 10000 10500 11000 11500 11700 11800 11900 12000 12200 12500 9500 10000 10500 11000 11500 11700 11800 11900 12000 12200 12500
BANKNIFTY OPTION OI CONCENTRATION (IN QTY) (MONTHLY) CHANGE IN BANKNIFTY OPTION OI (IN QTY) (MONTHLY)
In 10,000 In 10,000
42.05
9.46
45.00 10.00
40.00
8.00
6.81
35.00
29.86
29.01
28.33
5.84
30.00
5.24
6.00
24.19
25.00
20.55
3.74
20.10
4.00
20.00
2.49
2.21
2.06
11.66
11.54
15.00
1.22
2.00
9.77
0.42
0.37
0.16
0.08
0.07
0.04
0.02
0.01
10.00
6.09
4.54
4.38
4.39
0.00
3.20
2.98
2.77
2.74
2.47
-0.02
-0.04
-0.08
2.04
5.00
1.08
0.01
-0.81
-0.85
0.00 -2.00
27500 28000 28500 29000 29500 30000 30500 31000 31500 32000 32200 27500 28000 28500 29000 29500 30000 30500 31000 31500 32000 32200
Call Put Call Put
8
DERIVATIVES
06-Jun 04-Jun 03-Jun 31-May 30-May 06-Jun 04-Jun 03-Jun 31-May 30-May
DISCOUNT/PREMIUM 40.30 34.50 15.90 -6.30 30.80 DISCOUNT/PREMIUM 81.85 51.55 26.30 -50.65 63.10
COST OF CARRY% 0.72 0.69 0.65 0.62 0.63 COST OF CARRY% 0.72 0.69 0.65 0.62 0.63
PCR(OI) 1.39 1.57 1.60 1.55 1.56 PCR(OI) 1.09 1.24 1.25 1.17 1.17
PCR(VOL) 0.91 1.28 1.38 1.27 1.42 PCR(VOL) 1.31 1.89 1.80 1.82 2.53
A/D RATIO(NIFTY 50) 0.28 0.50 7.50 0.43 1.43 A/D RATIO(BANKNIFTY) 0.00 2.00 5.00 0.09 2.00
A/D RATIO(ALL FO STOCK)* 0.16 0.70 4.26 0.46 1.71 A/D RATIO(ALL FO STOCK)# 0.00 2.83 3.40 0.05 2.83
IMPLIED VOLATILITY 13.52 13.46 13.24 13.88 13.68 IMPLIED VOLATILITY 15.78 15.16 15.83 16.17 15.91
VIX 15.53 15.63 15.97 16.07 16.07 VIX 15.53 15.63 15.97 16.07 16.07
HISTORICAL VOLATILITY 20.63 20.11 20.65 19.92 20.51 HISTORICAL VOLATILITY 26.23 24.58 25.33 25.78 26.47
*All Future Stock #All Future Stock
In Cr. In Cr.
2221
5509
2500 6000
4771
4770
4745
2000 5000
1500
4000
3277
1000
3000 2679
500
136
2000
0
951
-9
1000
461
-500
-405
-587
0
-734
-1000
-947
-951
-307
-1153
-1500 -1000
-1473
-1160
-2000 -2000
23-May 24-May 27-May 28-May 29-May 30-May 31-May 03-Jun 04-Jun 06-Jun 23-May 24-May 27-May 28-May 29-May 30-May 31-May 03-Jun 04-Jun 06-Jun
LTP % Price Change Open interest %OI Chng LTP % Price Change Open interest %OI Chng
WIPRO 288.10 2.00% 47638400 22.88% GAIL 318.00 -12.05% 15564612 62.16%
APOLLOHOSP 1348.70 9.38% 1114000 18.70% MINDTREE 963.05 -1.19% 1527000 44.93%
COLPAL 1165.40 1.35% 2571100 15.36% REPCOHOME 386.30 -4.43% 611600 33.98%
HAVELLS 778.20 4.52% 5348000 11.95% RELCAPITAL 104.70 -13.36% 13441500 25.21%
MANAPPURAM 138.40 2.22% 11106000 10.64% BANKBARODA 124.35 -6.64% 63952000 24.96%
IGL 345.80 2.31% 2948000 10.52% ACC 1600.85 -5.38% 2857600 20.41%
MRF 56080.95 1.06% 31540 9.63% SUNTV 543.30 -1.28% 6831000 19.15%
PFC 132.55 6.25% 30894600 8.63% DHFL 86.10 -21.94% 23599500 17.57%
CEATLTD 993.95 1.11% 826000 7.55% ORIENTBANK 94.60 -5.26% 9583000 16.91%
NESTLEIND 11675.60 1.08% 304950 7.40% SRTRANSFIN 1065.05 -8.01% 4082400 13.72%
**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 (July) may witness further correction towards 6600-6500 Bullion counter may continue its upside momentum amid safe haven demand
levels. The sentiments of the market participants related to this spice are on fear of global recession due to trade war and talks of rate cut by fed and
pessimistic because of weak demand from stockists amid higher arrivals of the falling global stock markets. Also supporting gold price is dovish tilt of major
spice in the spot markets. Additionally, the outlook for turmeric is seen central banks and increasing economic uncertainty amid growth slowdown
bearish as sowing of the spice has begun in Sangli, and it will begin from the and trade conflict. Meanwhile, ECB indicated willingness to take measures to
upcoming week in parts of Telangana. Taking a look at the weekly charts, it is support economy while delaying possibility of first rate hike until mid-2020.
observed that jeera futures (July) is facing resistance near 18000 levels & Fed officials have indicated that they may act if trade concerns hurt US
reversing its gains owing to profit booking. This week also is it expected that economy. This has increased expectations that the central bank may cut
the counter may see further selling & move lower towards 17250-17030 levels. interest rate soon. U.S. officials had held talks on trade and migration amid
The fundamental attached to this weakness is the sideways movement of
reports U.S. President Donald Trump might delay the imposition of tariffs that
Rupee & giving a higher closing against Dollar. This phenomenon is capping the
was due this week. However, the White House stated that it is standing firm on
export demand & elevating supplies in the spot markets. It is reported that
its position that Mexico must make take significant new steps to halt the surge
arrivals at the benchmark market in Unjha, Gujarat, are steady at 10,000 bags
(1 bag = 55 kg). The bullish trend of cardamom futures (July) is likely to take a of Central American migrants or face tariffs on its exports to the United
pause & the upside may remain capped near 2390 levels. The reason is that the States. Gold can take support near 31800 levels and recover towards 33000
India Meteorological Department foresights that conditions are favourable for levels while silver can test 37800 levels while taking support near 36200
the onset of the southwest monsoon over Kerala in the next 48 hours. The levels. U.S. Vice President Mike Pence stated that he was encouraged that
projections of sufficient rains may aid to the crop growth & send bearish Mexican officials were willing to do more to curb migration flows to the United
signals to the counter in days to come. Dhaniya futures (July) is trading near 9 States, but it was up to President Trump to decide if they went far enough to
weeks low & this downtrend may extended towards 6575 levels. On the spot avert threatened tariffs. Meanwhile Trump stated that he would decide
market of Ramganj, Rajasthan is witnessing higher amount of arrivals near to whether to carry out his threat to hit Beijing with tariffs on at least $300
7000 bags (1 bag = 40 kg) on daily basis. billion in Chinese goods.
10
TREND SHEET
EXCHANGE COMMODITY CONTRACT CLOSING DATE TREND TREND RATE TREND SUPPORT RESISTANCE CLOSING
PRICE CHANGED CHANGED STOP/LOSS
NCDEX SOYABEAN JUN 3651.00 27.03.19 Sideways 3650.00 3550.00 3850.00 -
NCDEX JEERA JUN 17438.00 22.04.19 UP 16970.00 17050.00 - 17000.00
NCDEX REF.SOY OIL JUN 747.55 26.04.19 Sideways 746.00 740.00 760.00 -
NCDEX RMSEED JUN 3931.00 11.03.19 Down 3969.00 - 4020.00 4050.00
NCDEX CHANA JUN 4480.00 24.02.19 Sideways 4050.00 4300.00 4800.00 -
NCDEX GUARSEED JUN 4172.50 27.05.19 Down 4350.00 - 4450.00 4480.00
NCDEX COCUD JUN 2615.50 01.01.19 UP 1940.50 2570.00 - 2550.00
NCDEX CASTOR JUN 5390.00 25.04.19 Down 5900.00 - 5800.00 5850.00
MCX CPO JUN 511.60 07.03.18 Down 547.00 - 522.00 525.00
MCX MENTHA OIL JUN 1354.80 21.01.19 Down 1551.90 - 1360.00 1365.00
MCX SILVER JUL 37022.00 05.06.19 UP 37000.00 36000.00 - 35800.00
MCX GOLD AUG 32800.00 05.06.19 UP 32600.00 32400.00 - 32300.00
MCX COPPER JUN 406.00 04.06.19 Sideways 406.00 400.00 415.00 -
MCX LEAD JUN 152.70 24.05.19 UP 149.00 145.00 - 144.00
MCX ZINC JUN 204.75 23.04.19 Sideways 220.00 200.00 212.00 -
MCX NICKEL JUN 848.20 07.03.19 Sideways 930.00 830.00 870.00 -
MCX ALUMINIUM JUN 142.50 01.05.19 Sideways 144.80 140.00 147.00 -
MCX CRUDE OIL JUN 3582.00 21.05.19 Down 4440.00 - 3950.00 4000.00
MCX NATURAL GAS JUN 160.70 21.01.19 Down 217.90 - 175.00 177.00
Closing as on 06.06.19
TECHNICAL RECOMMENDATIONS
LEAD MCX (JUNE) contract closed at Rs. 151.55 on 06th Jun’19. The contract made
its high of Rs. 152.65 on 06th Jun’19 and a low of Rs.147.35 on 06th Apr’19. The 18-
day Exponential Moving Average of the commodity is currently at Rs. 135.68.On the
daily chart, the commodity has Relative Strength Index (14-day) value of 77.29.
One can buy at Rs. 149 for a target of Rs. 160 with the stop loss of Rs. 145.
SILVER MCX (JULY) contract closed at Rs. 36866 on 06th Jun’19. The contract made its
high of Rs. 38281.00 on 26th Apr’19 and a low of Rs. 35826.00 on 28th May’19. The 18-day
Exponential Moving Average of the commodity is currently at Rs. 37775.00 On the daily
chart, the commodity has Relative Strength Index (14-day) value of 55.34.
One can buy at Rs. 36800 for a target of Rs. 38800 with the stop loss of Rs. 35800.
DHANIYA NCDEX (JULY) contract was closed at Rs. 7017 on 06th Jun’19. The contract
made its high of Rs. 7791 on 22nd May’19 and a low of Rs. 6967 on 07th Jun’19. The 18-
day Exponential Moving Average of the commodity is currently at Rs. 7393.33 on the
daily chart, the commodity has Relative Strength Index (14-day) value of 34.39.
One can sell at Rs. 7220-7250 for a target of Rs. 6700 with the stop loss of Rs 7500.
11
NEWS DIGEST WEEKLY COMMENTARY
• US ADP Non-Farm Payrolls rose by 27,000 last month as In the week gone by, CRB saw correction for second straight week on massive fall in crude oil
against market expectation of 188,000; the slowest pace prices. Base metal prices dipped down further on trade war tension amid some weak economic
in more than nine years. data. Fall in dollar index capped the downside of some commodities though. U.S. dollar slipped
• The ECB ruled out raising interest rates in the next year after data showing weak private-sector job creation in May strengthened expectations of an
and even opened the door to cutting them or buying more
bonds. interest rate cut from the Federal Reserve. Prices of safe-haven gold rose for a seventh-straight
• U.S.-China tariffs could slash global economic output by day on Thursday, getting some residual support by expectations that the Federal Reserve will
0.5% in 2020, the International Monetary Fund (IMF) have to cut rates this year to maintain economic growth. Gold made a high of 32834 in MCX while
warned. in COMEX; it hit the higher side of $1348. Silver was just few points shy away from 37000 levels.
• India's gold imports in May jumped 49% from a year India's gold imports in May jumped 49% from a year earlier to 116 tonnes as a correction in local
earlier to 116 tonnes. prices during a key festival boosted retail demand Silver also managed to trade up despite fall in
• India commodity F&O turnover is up by 9% YoY at 13 base metals prices. Copper prices on the Shanghai Futures Exchange (ShFE) dropped to their
trillion rupees in Apr-May, 2019.
lowest in two years, as weak Chinese factory data and a U.S. threat to impose tariffs on Mexican
• India's gold imports from Switzerland were at a near-two
goods sparked fears of weaker global growth and demand for metals. Oil has entered a bear
year high of 58.6 tons in April.
• The government has so far sold 44,150 tons of the 1.6- market as fears of an economic downturn mount. It made a low of $50.6 in NYMEX and 3522 in
mln-tn wheat on offer under its open market sale scheme MCX. The EIA report was exceptionally weak, showing a strong build in crude oil (+6.8 million
for 2019-20 (Apr-Mar). barrels), gasoline (+3.2 million barrels) and distillates (+4.6 million barrels). Natural gas prices
• There is about a 60-65% probability of the weak El Nino were remained in bearish territory on comparatively lower demand.
condition in the tropical Pacific Ocean region persisting
during Jun-Aug, and is likely to decrease to 50% from In agri commodities, cotton prices slipped as unfavorable planting weather for grains increased
September onwards. - World Meteorological Organization the likelihood of increased cotton planting, while U.S.-China trade talk concerns loomed.
• The National Agricultural Cooperative Marketing Mostly oil seeds and edible oil turned weak last week on dull trade. According to a source, China
Federation of India bought 13,832 tons of urad harvested in will stockpile up to 7 million tonnes of soybeans bought from the United States during an earlier
the 2018-19 (Jul-Jun) Rabi season, as of 27th May, 2019. truce in the trade war between the nations, rather than crush them for immediate sale as a feed
• NCDEX has modified the specification of cotton (29 MM)
ingredient. In spices, jeera prices augmented further due to heavy purchases being made by the
contract by increasing the trading unit to 100 bales (1
bale = 170 kg) from 25 bales, w.e.f 10th June, 2019. exporters and wholesalers. Good news for India's cumin exporters is that its yield in Syria will be
• The export of oilmeals during May 2019 provisionally lower this year & the crop usually comes in the middle of June. Cardamom futures trend is
reported at 58,549 tons compared to 263,644 tons in May, bullish on account of crop losses over last couple of years & expectation of decline in arrivals in
2018 i.e. down by 78%. the coming days.
NCDEX TOP GAINERS & LOSERS (% Change) MCX TOP GAINERS & LOSERS (% Change)
1.00% 10.00%
0.11% 7.88%
8.00%
0.00%
6.00%
-1.00% 4.89%
4.00%
-2.00%
-3.00% -2.61%
-2.81%
0.00%
-4.00%
-2.00%
-1.96% -1.86%
-4.38%
-5.00%
-3.23%
-4.00%
-5.21%
-6.00% -5.16%
-5.88% -6.00%
-6.73%
-7.00% -8.00%
JEERA CORIANDER CASTOR SEED COCUD CHANA BARLEY CARDAMOM MENTHA OIL LEAD GOLD SILVER NATURAL GAS CRUDE OIL NICKEL ALUMINIUM COTTON
MINI
WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX) WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)
COMMODITY UNIT 30.05.19 06.06.19 DIFFERENCE COMMODITY UNIT 29.05.19 05.06.19 DIFFERENCE
QTY. QTY. QTY. QTY.
BARLEY MT 8636 8636 0 ALUMINIUM MT 230.98 764.24 533.26
CASTOR SEED MT 106605 106693 88
COTTON BALES 185900.00 172300.00 -13600.00
CHANA MT 94717 96286 1569
COCUD MT 22104 20205 -1899 GOLD KGS 19.00 83.00 64.00
CORIANDER MT 5007 5680 673
GUARGUM MT 10948 10120 -828 GOLD MINI KGS 3.80 49.80 46.00
GUARSEED MT 21584 21834 250 GOLD GUINEA KGS 7.36 7.36 0.00
JEERA MT 1408 1271 -137
RM SEED MT 69485 67943 -1542 MENTHA OIL KGS 2158.30 17277.10 15118.80
SOYBEAN MT 38466 30894 -7572
SILVER (30 KG Bar) KGS 3800.00 3800.00 0.00
TURMERIC MT 2823 3249 426
WHEAT MT 27362 30074 2712 ZINC MT 267.45 550.43 282.98
12
COMMODITY
SPOT PRICES (% change) 3rd Advance Estimates of major crops for 2018-19
The 3rd Advance Estimates of production of major crops for 2018-19 have been
released by the Department of Agriculture, Cooperation and Farmers Welfare on
GUAR GUM (JODHPUR) 3.45 03rdJune, 2019. As per 3rd Advance Estimates for 2018-19, total Food grain
production in the country is estimated at 283.37 million tonnes which is higher by
GUAR SEED (JODHPUR) 2.57 17.62 million tonnes than the previous five years’ (2013-14 to 2017-18) average
production of food grain. Although the cumulative rainfall in the country during the
JEERA (UNJHA) 1.20 monsoon season (June to September, 2018) has been 9% lower than Long Period
Average (LPA), most of the major crops producing states have witnessed normal
PEPPER MALABAR GAR (KOCHI) 1.19 monsoon rainfall. Accordingly, the production of most of the crops for the
agricultural year 2018-19 has been estimated higher than their normal production.
WHEAT (DELHI) 0.79
• Total production of Rice Major Crop produc on in last 4 Years(in millon ton)
during 2018-19 is 140
115.63
TURMERIC (NIZAMABAD) 0.54
estimated at record
111.01
109.7
104.41
120
115.63 million tonnes.
101.2
98.51
97.11
2015 -16 2016 -17 2017 -18 2018 -19*
92.29
MUSTARD (JAIPUR) -0.29 Production of rice has 100
increased by 2.87
80
GUR (MUZAFFARNGR) -0.54 million tonnes than the
production of 112.76
45.42
60
43.77
43.33
38.52
BARLEY (JAIPUR) -0.56 million tonnes during
31.42
31.27
29.88
25.25
40
23.95
23.22
23.13
2017-18. It is also higher
16.35
COTTON (KADI) -0.86 by 7.83 million tonnes 20
LIGHT CRUDE OIL NYMEX JULY 53.50 52.59 -1.70 CPO* BMD AUG MYR per MT 2069.00 2056.00 -0.63
NATURAL GAS NYMEX JULY 2.45 2.32 -5.31 Cotton ICE JULY Cents per Pound 68.08 68.59 0.75
* Closing as on 4th June, 2019
13
CURRENCY
Currency Table News Flows of last week
Currency Pair Open High Low Close 3rd JUN Indian Manufacturing PMI rose to 52.7, fastest in three months.
USD/INR 69.80 69.8650 69.1950 69.4125 4th JUN UK manufacturing activity declined further amid Brexit
uncertainty.
EUR/INR 78.0575 78.4350 77.75 78.1225
5th JUN India’s services PMI slips to sinks to one-year low in May.
GBP/INR 88.3425 88.40 87.72 88.2825 6th JUN RBI delivers 3rd rate cut in a row, shifts policy stance to
JPY/INR 64.4250 64.50 64.13 64.2225 “accommodative”.
(* NSE Currency future, Source: nseindia.com, Open: Monday 9.00 AM IST, Close: Thursday (5.00 PM IST) 6th JUN UK PM will be installed by 22nd July.
USDINR is likely to stay below 69.65 and move lower towards 68.80. 14th JUN INR Foreign Exchange Reserves 07-JUN -
USD/INR (JUN) contract closed at 69.4125 on 6th Jun’ 19. The contract made its EUR/INR (JUN) contract closed at 78.1225 on 6th Jun’ 19. The contract made its
high of 69.8650 on 3rd Jun’19 and a low of 69.1950 on 4th Jun’19 (Weekly Basis). high of 78.4350 on 4th Jun’19 and a low of 77.75 on 3rd Jun’19 (Weekly Basis). The
The 14-day Exponential Moving Average of the USD/INR is currently at 69.84 14-day Exponential Moving Average of the EUR/INR is currently at 78.36
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 41.35.
38.22. One can sell at 69.65 for the target of 69.05 with the stop loss of 69.95. One can sell at 78.60 for a target of 78 with the stop loss of 78.90.
GBP/INR JPY/INR
GBP/INR (JUN) contract closed at 88.2825 on 6th Jun’ 19. The contract made its JPY/INR (JUN) contract closed at 64.2225 on 6th Jun’ 19. The contract made its
high of 88.40 on 6th Jun’19 and a low of 87.72 on 4th Jun’19 (Weekly Basis). The high of 64.50 on 3rd Jun’19 and a low of 64.13 on 3rd Jun’19 (Weekly Basis). The
14-day Exponential Moving Average of the GBP/INR is currently at 88.90 14-day Exponential Moving Average of the JPY/INR is currently at 64.09
On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 30.79. On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 54.46.
One can sell at 88.65 for a target of 88.05 with the stop loss of 88.95. One can buy at 63.80 for a target of 64.40 with the stop loss of 63.50.
14
IPO
IPO NEWS
IPO TRACKER
Company Sector M.Cap (In Rs Cr.) Issue Size (in Rs Cr.) List Date Issue Price List Price Last Price* %Gain/Loss
Neogen Chemicals Ltd Chemicals 728.64 132.35 8-May-19 215.00 251.00 313.25 45.70
Polycab India Ltd Cable 8955.67 1346.00 16-Apr-19 538.00 633.00 605.75 12.59
Metropolis Healthcare Limited Healthcare 4830.64 1204.00 15-Apr-19 880.00 960.00 960.80 9.18
Rail Vikas Nigam Ltd Railway 5788.37 481.57 11-Apr-19 19.00 19.00 27.70 45.79
MSTC Ltd Trading 672.99 212.00 29-Mar-19 128.00 111.00 95.95 -25.04
Chalet Hotels Hotels & Restaurants 6906.81 1641.00 7-Feb-18 280.00 294.00 327.45 16.95
Garden Reach Shipbuilding Ship Building 1357.70 345.00 10-Oct-18 118.00 104.00 118.85 0.72
AAVAS Financiers Ltd NBFC 10583.92 1734.00 8-Oct-18 821.00 758.00 1357.15 65.30
Ircon International Ltd Railway 3812.95 470.00 28-Sep-18 475.00 410.30 408.35 -14.03
CreditAccess Grameen Ltd. NBFC 7794.89 1131.00 23-Aug-18 422.00 393.00 541.00 28.20
HDFC Asset Management Co AMC 38296.52 2800.00 6-Aug-18 1100.00 1726.25 1807.85 64.35
TCNS Clothing Co. Limited Retail 5172.68 1125.00 30-Jul-18 716.00 715.00 842.40 17.65
Varroc Engineering Limited Auto Ancillary 6520.31 1945.00 6-Jul-18 967.00 1015.00 488.55 -49.48
Fine Organic Industries Limited FMCG 4634.38 600.00 6-Jul-18 783.00 815.00 1523.75 94.60
RITES Limited Railway 5524.42 460.00 6-Jul-18 185.00 190.00 277.10 49.78
Indostar Capital Finance Ltd NBFC 3524.93 1844.00 21-May-18 572.00 600.00 381.20 -33.36
Lemon Tree Hotels ltd Hotel 5436.74 1038.00 9-Apr-18 56.00 61.60 69.15 23.48
ICICI Securities Ltd Broking House 7284.60 4016.00 4-Apr-18 520.00 431.10 227.00 -56.35
Mishra Dhatu Nigam Ltd Metal 2454.77 439.00 4-Apr-18 90.00 87.00 131.75 46.39
Karda Construction Ltd Construction 247.30 78.00 2-Apr-18 180.00 136.00 201.30 11.83
15
FIXED DEPOSIT MONITOR
PERIOD MIN.
S.NO NBFC COMPANY - NAME ADDITIONAL RATE OF INTEREST (%) INVESTMENT
12M 18M 24M 36M 45M 48M 60M 84M (`)
3 GRUH FINANCE LTD. 7.75 13M= 7.75 8.00 - 8.00 8.00 8.25 96-120M=7.75%; 0.25% FOR FEMALE, SENIOR ` 1000/-
7.75 CITIZEN & TRUST
HDFC LTD- PREMIUM DEPOSIT FOR INDIVIDUAL 15M=7.93 22M=8.03 30M=7.98 44M=8.03
4 0.25% FOR SENIOR CITIZEN UPTO ` 2 CR.
(UPTO ` 2 CR.)
6 HDFC LTD- REGULAR DEPOSIT FOR INDIVIDUAL 7.87 - 7.87 7.87 - 7.87 7.87 - 0.25% FOR SENIOR CITIZEN UPTO ` 1 CR.
(UPTO ` 2 CR.)
` 20000/- BUT
` 40000/-
HDFC LTD- REGULAR FOR INDIVIDUAL & TRUST
7 8.14 - 8.14 8.14 - 8.14 8.14 - 0.25% FOR SENIOR CITIZEN UPTO ` 1 CR. IN MONTHLY
(> ` 2 CR TO ` 10 CR)
-
HDFC LTD- PREMIUM DEPOSIT FOR TRUST &
8 15M=8.08 - - 30M=8.08 - - -
INSTITUTION (UPTO ` 2 CR.)
11 ICICI Home Finance (less than ` 1 Cr.) 7.90 - 7.90 8.20 - 8.25 8.25 8.30 0.25% EXTRA FOR SR. CITIZEN
15 KTDFC (KERALA TRANSPORT) 8.50 - 8.50 8.50 - 8.25 8.25 - 0.25% EXTRA FOR SR. CITIZEN ` 10000/-
16 LIC HOUSING FINANCE LTD.(UPTO ` 25 CR.) 8.15 8.15 8.20 8.25 - - 8.30 - 0.25% FOR SENIOR CITIZEN IF APP ABOVE ` 10000/-
` 50,000/- & 0.10% IF APP UPTO ` 50,000/-
19 PNB HOUSING FINANCE LTD.(UPTO ` 5 CR.) 8.30 - 8.30 8.40 - 8.40 8.45 8.30 0.25% EXTRA FOR SR. CITIZEN UPTO ` 1 CRORE
` 10000/-
20 PNB HOUSING FINANCE LTD.(UPTO ` 5 CR.) 15M=8.30 22M=8.35 30M=8.30 44M=8.45 0.25% FOR SENIOR CITIZEN
21 SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME 8.25 - 8.50 9.00 - 9.00 9.25 - 0.25% FOR SENIOR CITIZEN, ` 5000/-
0.25% EXTRA FOR RENEWALS
22 SHRIRAM CITY UNION SCHEME 8.25 - 8.50 9.00 - 9.00 9.25 - 0.25% FOR SENIOR CITIZEN, ` 5000/-
0.25% EXTRA FOR RENEWALS
* 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
Motilal Oswal Mutual Fund announced the change in the composition of fund management structure
Motilal Oswal Mutual Fund announced the change in the composition of fund management structure for Motilal Oswal Multicap 35 Fund (MOF35),
Motilal Oswal Long Term Equity Fund (MOFLTE), Motilal Oswal Dynamic Fund (MOFDYANAMIC) and Motilal Oswal Focused 25 Fund (MOF25). Akash
Singhania is the new fund manager for MOF35, MOFLTE and MOFDYANAMIC, and Siddharth Bothra is the new fund manager of MOF25 effective May 17,
2019.
Scheme Name ICICI Prudential Fixed Maturity Plan - Series 86 - 1120 Days Plan F
Fund Type Close ended
Fund Class Income
Opens on 27-May-2019
Closes on 10-Jun-2019
Investment Objective To seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the
maturity of the Scheme.
Min. Investment Rs. 5,000/-
Fund Manager Mr. Rahul Goswami & Mr. Rohan Maru
Scheme Name UTI - Fixed Term Income Fund Series XXXII-I(1126 Days)
Fund Type Close ended
Fund Class Income
Opens on 04-Jun-2019
Closes on 18-Jun-2019
Investment Objective To generate returns by investing in portfolio of fixed income securities maturing on or before the date of maturity of the
scheme.
Min. Investment Rs. 5,000/-
Fund Manager Mr. Sunil Patil
17
MUTUAL FUND Performance Charts
EQUITY (Diversified)
TAX Fund
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
Mirae Asset Hybrid - Equity Fund-Reg-G 15.02 29-Jul-2015 1510.63 5.55 9.69 11.16 13.34 11.12 68.19 -0.56 56.22 9.14 4.21 30.43
SBI Equity Hybrid Fund - Growth 137.86 09-Oct-1995 28413.30 6.96 10.66 9.47 11.75 15.70 61.63 1.02 53.95 10.00 7.79 28.26
Canara Robeco Equity Hybrid Fund - G 161.01 01-Feb-1993 1923.31 5.33 9.05 8.99 12.46 11.27 58.91 -1.29 50.84 14.98 4.19 29.99
ICICI Prudential Equity & Debt Fund - G 135.83 03-Nov-1999 25914.10 4.93 9.39 8.22 13.47 14.23 65.84 -2.33 58.72 5.48 3.52 32.28
Sundaram Equity Hybrid Fund - Reg - G 91.78 23-Jun-2000 1458.12 5.16 8.21 7.57 11.73 12.31 59.02 -1.15 48.87 21.62 1.91 27.59
HDFC Hybrid Equity Fund - Growth 54.56 06-Apr-2005 21842.70 5.17 8.43 7.25 10.38 12.71 84.20 -7.98 49.17 11.41 8.34 31.08
HDFC Hybrid Equity F-R-G(Adjusted-NAV) 54.56 11-Sep-2000 21842.70 5.17 8.43 7.25 11.95 15.81 65.39 -1.99 49.17 11.41 8.34 31.08
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.
ICICI Prudential Long Term Bond Fund-G 61.44 09-Jul-1998 717.68 76.71 69.89 49.20 14.10 14.17 9.14 9.06 28.00 -0.01 11.08 8.31
Reliance Income Fund - G P - Growth 61.36 01-Jan-1998 279.40 72.17 62.10 42.81 13.85 12.80 7.97 8.83 22.53 -0.04 8.10 8.20
IDFC D B F - Reg - Growth (Re-Launched) 22.94 03-Dec-2008 1962.65 49.18 46.02 36.91 11.63 12.08 8.26 8.22 19.95 -0.07 8.16 8.30
IDFC Bond Fund - Income Plan - Reg - G 45.81 14-Jul-2000 699.30 51.22 48.06 37.99 11.47 12.02 8.02 8.38 20.41 -0.08 8.54 8.32
Axis Dynamic Bond Fund - Growth 19.54 27-Apr-2011 142.43 66.64 57.52 38.52 13.42 11.85 8.10 8.61 16.04 -0.04 6.80 8.64
L&T Triple Ace Bond Fund - Reg - Growth 47.86 31-Mar-1997 547.88 60.29 57.27 42.96 13.39 11.57 7.16 7.31 16.99 -0.01 N.A 8.51
Aditya Birla Sun Life Income Fund - DAP 21.03 06-Mar-2009 978.32 53.19 45.93 33.63 11.47 11.22 7.52 7.51 20.49 -0.08 5.24 8.18
SHORT Due to their inherent short term nature, Short term funds have been sorted on the basis of 6month returns
*Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
18
Mr. S C Aggarwal (CMD, SMC Group) along with Mr. Amitabh Kant (CEO, NITI Aayog) during Fintech Summit organised
by ASSOCHAM held on Thursday, 30th May, 2019 at Hotel The Taj Mahal, Mansingh Road, New Delhi.
Memento been presented to Mr. Pravin Aggarwal (Whole Time Director, SMC Insurance Brokers Pvt. Ltd) &
Mr. Dhiraj Bhalla (Associate Director, SMC Insurance Brokers Pvt. Ltd) by Mr. Venkatesh Naidu
(Director, Exide Life Insurance) for Last Year Biz held on Tuesday, 4th June, 2019 at SMC Insurance, Pratap Nagar office.
Retirement se pehle
bacchhon ko settle
karna ho ya karni ho
duniya ki sair,
Toh aaj hi SMC se
baat karo.
a Customized Plans
a Comprehensive Investment Solutions
a Long-term Focus
a Independent & Objective Advise
a Financial Planning
SMC Global Securities Ltd., CIN : L74899DL1994PLC063609 | SMC Comtrade Ltd., CIN No. U67120DL1997PLC188881
Registered Address: 11/6-B, Shanti Chamber, Pusa Road, Delhi-110005, Tel +91-11-30111000 | website: www.smctradeonline.com
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SMC Comtrade Ltd. SEBI Regn. No. INZ000035839, Member: NCDEX (00021), MCX (8200) & ICEX (1010). SMC Investments and Advisors Limited, SEBI PMS Regn. No.
INP000003435. SMC Insurance Brokers Pvt. Ltd. IRDAI Regn. No: DB 272/04 License No. 289 Valid upto 27/01/2020. Comtrade Ltd. • Real Estate Advisory services are offered
through SMC Real Estate Advisors Pvt. Ltd.
Disclaimer: Investments in securities market are subject to market risks, read all the related documents carefully before investing • PMS is not offered in commodity derivative segment • Insurance is the subject matter of
solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC
Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services
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