WISE M NEY

NATIONAL TEACHERS DAY

MAY 6

2014: Issue 421, Week: 5th - 8th MayA Weekly Update from SMC

(For private circulation only)

Bra

nd

sm

c 2

44

(Saurabh Jain)

Contents

Equity 4-7

Derivatives 8-9

Commodity 10-13

Currency 14

IPO 15

Fixed Deposit 16

Mutual Fund 17-18

EDITORIAL STAFF

Editor Saurabh Jain

Executive Editor Jagannadham Thunuguntla

+Editorial Team

Dr. R.P. Singh Nitin Murarka

Vandana Bharti Sandeep Joon

Dinesh Joshi Vineet Sood

Shitij Gandhi Dhirender Singh Bisht

Subhranil Dey Parminder Chauhan

Ajay Lakra Mudit Goyal

Content Editor Kamla Devi

Graphic Designer Pramod Chhimwal

Research Executive Sonia Bamba

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lobal stock markets during the week, largely traded in a narrow range as

investors were waiting for the outcome of U.S. Fed policy. Apprehensions Gas regards to tension between Russia and Ukraine also contributed for the

negative sentiments in general. As expected the U.S. Federal Reserve trimmed

the monthly bond purchase by $10 billion to $45 billion a month as it sees that the

economic activity has once again gained momentum after having slowed sharply

during the winter in part because of adverse weather conditions. As regards to

interest rates, Fed stated that it will take a balanced approach consistent with its

long-run goals of maximum employment and inflation of 2 percent. As regards to

sanctions on Russia by Europe and U.S. in response to its stance against Ukraine,

Russian President Putin said that the companies working in Russia from Europe

and U.S. origin may be vulnerable too. European Central Bank President Mario

Draghi said that more quantitative easing is not in the offing in near future as he

doesn't see the threat of deflation.

Back at home, Indian markets seemed to be tired now after making new highs on

the hopes of a new government coming to power with majority helping India to

come back on the path of growth. Understandably, corrections are always

welcome in the markets after posting huge gains in no time. Another possible

reason for this correction or consolidation in the markets could be investors may

now like to see the outcome of polls and also more information on how the

monsoons are likely to pan out this season before taking fresh call on the

markets. However, one cannot deny the fact that India may see a huge amount of

foreign flows after election as a hefty money is still waiting on the sidelines

awaiting more clarity on reforms, policies etc from the newly elected

government. So far in this year, Foreign Institutional Investors (FII) have pumped

more than $5 billion or nearly Rs 30,000 crores in the Indian equity markets. Some

of the risks that have arisen for the emerging markets so far include continuation

of tightening of liquidity by U.S., more than expected slowdown in China,

Geopolitical risks on Russia-Ukraine standoff, growth getting cooled off in Japan,

etc.

On the commodities front, it was a bearish week for commodities market with

many economic releases and events especially from US. Prices have fallen

because of some offbeat data and stimulus cut announcement. However, the fall

was more in Indian market because of the appreciation in the rupee. Tapering has

driven the gold price lower for some time and it is likely to trade in the range of

27800-29000. The base metals pack may remain sideways with a negative bias on

rising greenback and slow manufacturing activity in China. The Russia/Ukraine

conflict appeared to be on the back foot at present, leaving the door opens for a

decline in the energy counter amid rise in inventories. Reserve Bank of Australia

Rate Decision, Bank of Japan April 7-8 meeting minutes, Employment Change of

Australia, Bank of England Rate Decision, ECB Rate Decision, Unemployment

Rate of Canada are few events and releases,which may give significant impact on

commodity prices.

From The Desk Of Editor

NEWS

DOMESTIC NEWSEconomy• The HSBC India manufacturing Purchasing Managers Index (PMI) for March

stands at 51.3, showed a contraction from the previous month PMI of 52.5, signaling a weaker improvement in the business conditions of goods production in India. The manufacturing activity across the country remained weaker as compared to previous month.

• India's Core sector growth slowed to 2.5 per cent in March from 7 percent in the same month a year ago as output of crude oil, natural gas and fertilizer declined. For 2013-14, core sector growth slowed to 2.6 per cent from 6.5 per cent in 2012-13.

Metal• Jindal Steel & Power announced that Jindal Shaheed Iron & Steel, a wholly

owned subsidiary of the Company has commissioned its 2 MTPA integrated steel plant in Sohar, Oman. The facility using state-of-art technology from Danielli Italy, is Oman's first and largest steel melting shop and also the third largest unit of Middle East & Gulf region.

• Tata Steel has commissioned a new coke oven battery at its Jamshedpur steel plant, making the unit self-sufficient in coke requirement and in turn stabilizing operations there.

Telecom• Reliance Communications announced a tripartite agreement with Tata

Teleservices and Aircel to provide 3G roaming services to each others customers using their network across the country. RCom and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles.

Realty/ Construction• IRB Infrastructure Developers has emerged as a preferred bidder and received

Letter of Award from NHAI for the project of Four Laning of Yedeshi - Aurangabad section of NH-211 from km 100.000 to km 290.200 (Design Length 190 km) in the State of Maharashtra to be executed as BOT (Toll) on DBFOT Pattern under NHDP Phase - IV (the "Project").

• Sunteck Realty announced that the Company through its overseas subsidiary (WOS) has entered into a Joint Venture Agreement for development of land in the UAE.

• Ahluwalia Contracts (India) has secured news orders worth `628 crore for construction of institutional, residential, hospital including electric plumbing and firefighthing services.

Information Technology• Mastek announced that its US based subsidiary, MajescoMastek, has won two

key orders in North America. The Company's STG suite was selected by Heritage Property & Casualty Insurance Company while STG Billing was selected by Selective Insurance.

Pharmaceutical• Natco Pharma announced that its marketing partner in the USA, Breckenridge

Pharmaceutical, Inc., has filed an Abbreviated New Drug Application (ANDA) for Bendamustine Hydrochloride powder; IV infusion (25mg/vial and 100mg/vial).

Power• SJVNL has signed a preliminary agreement with Druk Green Power Corporation

of Bhutan for setting up a 600 MW hydro electric power plant in the neighbouring nation.

• JSW Energy is looking to better its performance by increasing the number of long term power purchase contracts and increasing operational efficiency of its plants. The company is looking at the non organic route for growth, but has put on hold its own planned power projects of 7,000 MW capacity in West Bengal, Chhatisgarh, Rajasthan and expansion of its Ratnagiri plant in Maharashtra.

Automobile• Force Motors to invest around ̀ 100 crore to set up an engine manufacturing and

testing facility in Tamil Nadu. The new facility will be for a global passenger car manufacturer, with whom the company signed an agreement recently to supply engines.

INTERNATIONAL NEWS• US consumer confidence index dipped to 82.3 in April from an upwardly revised

83.9 in March. Economists had expected the index to climb to 83.0 from the 82.3 originally reported for the previous month.

• US pending home sales index surged up by 3.4 percent to 97.4 in March after edging down by 0.5 percent to a revised 94.2 in February. Economists had been expecting a much more modest increase of about 0.6 percent.

• US Purchasing Managers Index (PMI) climbed to 54.9 in April from 53.7 in March, with a reading above 50 indicating growth in the manufacturing sector. Economists had expected the index to edge up to a reading of 54.3.

• US construction spending rose by 0.2 percent to an annual rate of $942.5 billion in March after falling by 0.2 percent to a revised $940.8 billion in February. Economists had expected spending to increase by about 0.6 percent compared to the 0.1 percent uptick originally reported for the previous month.

• Japan's housing starts declined more than estimated in March. Housing starts fell 2.9 percent year-on-year in March, reversing a 1 percent rise in February. Economists had forecast a 2.7 percent drop for March.

• Industrial production in Japan was up a seasonally adjusted 0.3 percent on month in March. That was shy of forecasts for 0.5 percent following the 2.3 percent contraction in February.

• The Bank of Japan left its monetary policy unchanged as widely expected by economists. At the Policy Board meeting, members voted unanimously to continue to increase the monetary base at an annual pace of about JPY 60-JPY 70 trillion.

EX-DATE SYMBOL PURPOSE

5-MAY-14 BATAINDIA DIVIDEND - RS 6.50/- PER SHARE6-MAY-14 IBULHSGFIN FOURTH INTERIM DIVIDEND - RS 9/- PER SHARE6-MAY-14 GDL SECOND INTERIM DIVIDEND6-MAY-14 GODREJCP FOURTH INTERIM DIVIDEND

MEETING DATE SYMBOL PURPOSE

5-MAY-14 UNITEDBNK RESULTS5-MAY-14 CENTURYTEX RESULTS/DIVIDEND5-MAY-14 CANBK RESULTS/DIVIDEND6-MAY-14 VIJAYABANK RESULTS/DIVIDEND6-MAY-14 TITAN RESULTS/DIVIDEND6-MAY-14 HDFC RESULTS/DIVIDEND7-MAY-14 SYNDIBANK RESULTS/DIVIDEND7-MAY-14 LUPIN RESULTS/DIVIDEND7-MAY-14 GESHIP RESULTS/DIVIDEND7-MAY-14 ALBK RESULTS/DIVIDEND8-MAY-14 UNIONBANK RESULTS/DIVIDEND8-MAY-14 GLENMARK RESULTS/DIVIDEND8-MAY-14 AMTEKINDIA RESULTS/OTHERS8-MAY-14 AMTEKAUTO RESULTS9-MAY-14 ANDHRABANK RESULTS/DIVIDEND9-MAY-14 SRF RESULTS/DIVIDEND9-MAY-14 TORNTPHARM RESULTS/DIVIDEND9-MAY-14 RANBAXY RESULTS9-MAY-14 CORPBANK RESULTS/DIVIDEND9-MAY-14 CHAMBLFERT RESULTS/DIVIDEND10-MAY-14 CENTRALBK RESULTS/DIVIDEND12-MAY-14 JUSTDIAL RESULTS/DIVIDEND13-MAY-14 DRREDDY RESULTS13-MAY-14 MRPL RESULTS/DIVIDEND14-MAY-14 ASIANPAINT RESULTS/DIVIDEND14-MAY-14 TECHM RESULTS/DIVIDEND14-MAY-14 TATASTEEL RESULTS/DIVIDEND14-MAY-14 MPHASIS RESULTS/DIVIDEND

FORTHCOMING EVENTS

NOTES:

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

of "Morning Mantra ".

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

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

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

TREND SHEET

Stocks Closing Trend Date Rate SUPPORT RESISTANCE Closing

Price Trend Trend

Changed Changed

SENSEX 22418 UP 12.09.13 19317 21600 21400

S&P NIFTY 6696 UP 12.09.13 5728 6500 6400

CNX IT 9228 DOWN 20.03.14 9317 9600 9800

CNX BANK 12856 UP 08.03.14 11278 12300 12000

ACC 1293 UP 08.03.14 1212 - 1280

BHARTIAIRTEL 328 UP 03.04.14 321 315 310

BHEL 180 UP 05.09.13 138 175 170

CIPLA 397 DOWN 13.02.14 380 - 400

DLF 140 DOWN 23.04.14 152 155 160

HINDALCO 134 UP 08.03.14 121 130 125

ICICI BANK 1243 UP 08.03.14 1134 1200 1180

INFOSYS 3181 DOWN 13.03.14 3358 3400 3500

ITC 341 UP 13.03.14 343 340 330

L&T 1294 UP 19.09.13 888 1250 1220

MARUTI 1923 UP 19.09.13 1480 1830 1780

NTPC 116 DOWN 02.01.14 135 125 130

ONGC 325 UP 31.10.13 294 308 302

RELIANCE 936 UP 13.03.14 880 920 900

TATASTEEL 401 UP 27.03.14 376 390 370

S/l

4

®

Acc has breached the support of 1300

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

SECTORAL INDICES (% Change)

SMC Trend

SMC Trend

FMCGHealthcare

FTSE 100CAC 40

Auto BankRealty

Cap GoodsCons Durable

Oil & GasPower

NasdaqDow jonesS&P 500

NikkeiStrait times

Hang SengShanghai

INSTITUTIONAL ACTIVITY (Equity) (` Crore)

ITMetal

Down SidewaysUp

SMC Trend

Nifty BSE Midcap S&P CNX 500

GLOBAL INDICES (% Change)

INDIAN INDICES (% Change)

BSE SmallcapSensex Nifty Junior

5

®

-1.27-1.19

-0.68

-1.41

-2.10

-1.37

-2.50

-2.00

-1.50

-1.00

-0.50

0.00

Nifty Sensex BSE Midcap BSE Smallcap

Nifty Junior S&P CNX 500

-1.79

-1.37

-3.74

-1.75

-1.08

1.30

-0.40

-4.33

-0.60

-3.14

-5.12

-6.00

-5.00

-4.00

-3.00

-2.00

-1.00

0.00

1.00

2.00

Auto Index Bankex Cap Goods Index

Cons Durable Index

FMCG Index Healthcare Index

IT Index Metal Index Oil & Gas Index

Power Index Realty Index

1.271.21

1.09

0.39

-0.91

-0.40-0.50

1.84

0.98

-1.50

-1.00

-0.50

0.00

0.50

1.00

1.50

2.00

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

FTSE 100 CAC 40

3.02

1.40 1.380.95

0.58

-6.10 -6.02 -5.85-5.24

-4.19

-8.00

-6.00

-4.00

-2.00

0.00

2.00

4.00

Dr Reddy's Labs

Sun Pharma.Inds.

O N G C Cipla H D F C Hindalco Inds.

Tata Steel Tata Power Co.

B H E L Sesa Sterlite

2.92

1.74 1.52 1.290.95

-8.76

-7.20-6.57

-6.15 -5.96

-10.00

-8.00

-6.00

-4.00

-2.00

0.00

2.00

4.00

Dr Reddy's Labs

Sun Pharma.Inds.

Tech Mahindra

O N G C Bank of Baroda

DLF Jindal Steel Hindalco Inds.

Tata Steel Tata Power Co.

257.10148.00

754.90

-392.70

-127.50

-600.00

-400.00

-200.00

0.00

200.00

400.00

600.00

800.00

1000.00

Friday Monday Tuesday Wednesday Thursday

FII Activity MF Activity

Beat the street - Fundamental Analysis

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

VALUE PARAMETERS

% OF SHARE HOLDING

Investment Rationale continued to witness healthy growth in advertisement spends.•Zee Entertainment Enterprises is one of India's

leading television, media and entertainment •The launch of new shows across network channels companies. It is amongst the largest producers and along with the tie up of cricket rights and current aggregators of Hindi programming in the world, series rights of programs has helped ensure that in with an extensive library housing over 1,00,000 + a highly fragmented environment, the network hours of television content. maintained and grew its dominance.

•According to the company management, FY15 will •Company's investments in the sports business see the incremental cost going up for niche continued during the quarter ended December channels and sport business. The blended OPM 2013. It also looks to expand its portfolio to take (Operating Profit Margin) is expected to be around advantage of the growth opportunities ahead. 22% to 25%. As the company has implemented 12 These investments are in line with its philosophy of minute ad cap, the company has taken part price enhancing long term shareholder value.hike across the board. Looking at the advertisement Valuationgrowth from blockbuster movies, the management The company continues to grow its business at a said that it will invest more on movies. healthy pace. The network shares are on an uptrend,

•During the quarter ended December 2013, Zee TV buoyed with the addition of new channels in the averaged 437 (Television Viewership in Millions) TVMs network. We expect the stock to see a price target of recording a relative share of 18.5% among the top 6 `327 in one year time frame on one year average P/E Hindi GECs. The market share was even better in the of 30.83x and FY15 (E) earnings of ̀ 10.60.Prime Time band, where Zee TV averaged 277 TVMs recording a relative share of 21%.

•The two new channels namely &Pictures & Zee Anmol launched during the past quarter have made handsome gains & strengthened the channel portfolio. These two channels are low cost channels and both are generating revenues without adding additional cost.

•For the nine months ended December 2013, the consolidated operating revenues up by 19% to `3262.89 crore and the net profit has inclined by 25% to `674.5 crore. Zee Tamil, 2 new channels, sport channels and blockbuster movie like Chennai Express helped in advertisement revenue growth. Sectors such as FMCG and telecom & services

` in cr

Actual Estimate

FY Mar-13 FY Mar-14 FY Mar-15

Revenue 3699.60 4349.40 4949.70EBITDA 954.30 1184.70 1389.10EBIT 914.40 1190.20 1360.30Pre-tax Profit 1051.90 1326.80 1528.20Net Profit 719.60 883.70 1016.00EPS 7.51 9.24 10.60BVPS 41.00 47.23 54.78ROE 19.60 21.10 21.70

Face Value (`) 1.00

52 Week High/Low 300.55/208.10

M.Cap (`Cr.) 25148.07

EPS (`) 8.89

P/E Ratio (times) 29.44

P/B Ratio (times) 6.43

Dividend Yield (%) 0.76

Stock Exchange BSE

ZEE ENTERTAINMENT ENTERPRISES LIMITED CMP: 261.85 Upside: 25%Target Price: 327

Face Value (`) 2.00

52 Week High/Low 123.70/69.50

M.Cap (`Cr.) 2129.26

EPS (`) 9.07

P/E Ratio (times) 10.01

P/B Ratio (times) 1.33

Dividend Yield (%) 0.44

Stock Exchange BSE

` in cr

Actual Estimate

FY Mar-13 FY Mar-14 FY Mar-15

Revenue 2016.00 2206.90 2384.80

EBITDA 282.60 311.90 354.90

EBIT 191.10 256.70 294.40

Pre-tax Profit 240.40 284.90 333.50

Net Profit 167.60 189.80 218.70

EPS 7.13 8.05 9.27

BVPS 67.91 76.33 84.36

ROE 11.00 11.20 11.00

% OF SHARE HOLDING

Investment Rationale •The company shall continue to drive circulation and readership numbers, going forward. •HT Media is one of India's foremost media Innovative concepts, like the newly launched HT companies, and home to three leading Mini, are expected to leverage the potential of newspapers in the country in the English, Hindi new opportunities, such as the Metro train, to and Business news segments – 'Hindustan Times' boost readership.(English daily), 'Hindustan' (Hindi daily, through a

subsidiary) and 'Mint' (business paper). The •For the quarter ended December 2013, it company also has four FM radio stations - 'Fever registered a 6% rise in its consolidated sales to Rs 104 FM' in Delhi, Mumbai, Bengaluru and Kolkata. 581.28 crore and net profit grew 25% to `67.02 The Company also operates a job portal in the crore. Going forward, it is believed that the yield internet space, called www.Shine.com. driven advertising growth and ongoing elections

will aid the company to improve advertising •Capex would be about `70-80 crore in FY 2015 revenue growth and profitability. largely on modernization and in Hindi space and IT.

Valuation•The digital and radio segment of the compay continues to gain traction, and it has recently The company has strong balance sheet capable of launched the first two centers of higher education supporting investments in growing businesses as well venture, the Bridge School of Management. The as exploring new opportunities. We expect the stock management is confident that its diversified to see a price target of ̀ 123 in one year time frame on business model, established brands and sustained two year average P/E of 13.32x and FY15 (E) earnings focus on cost reduction will continue to create of ̀ 9.27.value for all stakeholders as the macroeconomic environment improves.

•As per the recent Indian Readership Survey (IRS), the company has retained its leadership positions in Delhi, Bihar and Jharkhand. It is also now a clear No.2 in the markets of Mumbai and UP and No.1 in Uttarakhand.

•The average realization per copy to improve going forward. The entire effect of increase in subscription packages in Mumbai is still coming through and this will be reflected in its revenues over the next 3-4 months. The Company will continue to pursue an aggressive growth strategy, both organically and through partnerships and acquisitions.

P/E Chart

HT MEDIA LIMITED CMP: 90.80 Upside: 36%Target Price: 123

VALUE PARAMETERS

P/E Chart

48.24

3.423.02

43.07

2.25 Foreign

Institutions

Non Promoter Corporate Holding

Promoters

Public & Others

9.87.47

7.86

69.51

5.37 Foreign

Institutions

Non Promoter Corporate Holding

Promoters

Public & Others

6

®

Charts by Spider Software India Ltd

7

The stock closed at ̀ 54.50 on 02nd May 2014. It made a 52-week low at ̀ 43.25 on

04th March 2014 and a 52-week high at `76.40 on 10th May 2013. The 200 days

Exponential Moving Average (EMA) of the stock on the weekly chart is currently

at ̀ 78.00.

It has formed inverted head and shoulder at lower levels, but did not give closing

above the trend line. However, we cannot ignore the sharp momentum with rise

in volumes last week due to which it rose around 7 percent and this indicates that

lower level buying is going on. So, one can buy in the range of 52-53 levels for the

upside target of 59-60 levels with closing below SL of 49.70.

EQUITY

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

The stock closed at ̀ 412.20 on 02nd May 2014. It made a 52-week low at ̀ 347.35

on 27th June 2013 and a 52-week high at ̀ 514.05 on 30thMay 2013. The 200 days

Exponential Moving Average (EMA) of the stock on the weekly chart is currently

at ̀ 408.05.

Looking at this scrip, we can analyze that right now it in consolidation period

and anytime a sharp spurt is anticipated which would help it to reach our desired

targets. So, one can buy in the range of 409-412 levels for the upside target of

430-435 levels with closing below SL of 396.

The stock closed at 329.00 on 02nd May 2014. It made a 52-week low at 234.20

on 28th August 2013 and a 52-week high of `353.05 on 28th June 2013. The 200

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

currently at ̀ 284.18.

On the charts, it is clearly visible that after a strong consolidation at lower levels

there was sharp rise in price with volumes and last week also it managed to give

a positive closing despite of profit booking in other counters. Moreover, it is near

to its 52 week high. So, there may be chances this time that it will cross those

levels and reach our desired targets. One can buy in the range of 323-325 levels

for the upside target of 345-350 levels with closing below SL of 310.

` `

CENTRAL BANK OF INDIA

OIL & NATURAL GAS CORPORATION LIMITED

MPHASIS LIMITED

®

DERIVATIVES

BASIS GAP IN NIFTY

Markets remained choppy and volatile, developing intraday swings throughout the week. Hereafter, the range of 6650-6850 will remain crucial in the near term,

and the move is expected to remain volatile. Nifty has strong support in the range of 6620 to 6650 levels. We are also seeing open interest is building up in 6800

call options. Looking at election results on 16 May, 6800 call option can be bought. Friday data indicates that short positions were getting covered. Hence there

are fair chances of market going up towards 7000 levels. If Nifty slips below the 6600 mark, it could slide to 6500 levels due to increased selling pressure. On the

other hand, the index may face stiff resistance at 6850-6900 levels. The put-call ratio of open interest closed at 1.05 levels. The options open interest

concentration continued to be at the 7000-strike call with the highest open interest of above 40 lakh shares. Among put options, the 6400-strike taking the total

open interest to 40 lakh shares, with the highest open interest among put options. The Implied Volatility (IV) of call options closed at 30.34% on Friday, while the

average IV of put options inched higher to close at 30.21%. The Nifty is expected to remain in a broad range of 6650-6900 levels, with an intermediary support at

around 6670 levels. The move may remain mixed amid increased volatility, with resistance near 6900 levels.

WEEKLY VIEW OF THE MARKET

NIFTY TOTAL OPEN INTEREST (in share)

®

FIIs ACTIVITY IN F&O IN LAST TEN SESSIONS

(Derivative segment) `(Cr)

HCLTECH (MAY FUTURE)

Buy: Above `1449

Target: `1488

Stop loss: `1434

PNB

Buy MAY 740. PUT 30.45

Sell MAY 720. PUT 24.45

Lot size: 500

BEP: 734.00

Max. Profit: 7000.00 (14.00*500)

Max. Loss: 3000.00 (6.00*500)

OPTIONSTRATEGY

FUTURESTRATEGY

HDFC

Buy MAY 920. CALL 33.00

Sell MAY 940. CALL 26.50

Lot size: 250

BEP: 926.50

Max. Profit: 3375.00 (13.50*250)

Max. Loss: 1650.00 ( 6.50*250)

ONGC

Buy MAY 340. CALL 9.90

Sell MAY 350. CALL 6.80

Lot size: 1000

BEP: 343.10

Max. Profit: 6900.00 (6.90*1000)

Max. Loss: 3100.00 ( 3.10 *1000)

BULLISH STRATEGY

DERIVATIVE STRATEGIES

IOC (MAY FUTURE)

Buy: `274

Target: `285

Stop loss: `270

Above

MARUTI (MAY FUTURE)

Sell: `1884

Target: `1829

Stop loss: `1912

Below

BEARISH STRATEGY

FIIs ACTIVITY IN INDEX FUTURE (F&O) IN LAST WEEK

(Derivative segment) `(Cr)

-931.95

-237.94

-427.56

-267.08

-1000.00

-900.00

-800.00

-700.00

-600.00

-500.00

-400.00

-300.00

-200.00

-100.00

0.00

25-Apr 28-Apr 29-Apr 30-Apr

-10.80

-1218.01

888.17

390.68

1027.45

2145.09

216.54 271.27

-1552.10

-330.80

-2000.00

-1500.00

-1000.00

-500.00

0.00

500.00

1000.00

1500.00

2000.00

2500.00

15-Apr 16-Apr 17-Apr 21-Apr 22-Apr 23-Apr 25-Apr 28-Apr 29-Apr 30-Apr

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

11-Apr 15-Apr 16-Apr 17-Apr 21-Apr 22-Apr 23-Apr 25-Apr 28-Apr 29-Apr 30-Apr

547250

216500387250

508900

1167550

565350

951150

2988850

2420050

3819800

1980700

2698350

2155550 2177400

2527000

3708800

2042450

1606650

2894750

979600

767150543150

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

4000000

4500000

6000 6200 6300 6400 6500 6600 6700 6800 6900 7000 7500

Call Put

8

9

BHARTIARTL 10131000 11023000 8.80 0.39 0.52 0.14 35.73 31.09 -4.64

DLF 43622000 44126000 1.16 0.50 0.45 -0.05 59.21 62.12 2.91

HINDALCO 21404000 22346000 4.40 0.59 0.53 -0.06 48.29 47.87 -0.42

HINDUNILVR 5433000 5770000 6.20 0.71 0.44 -0.27 26.10 25.13 -0.97

ICICIBANK 7118250 6801750 -4.45 0.42 0.38 -0.04 44.80 45.85 1.05

IDEA 12652000 14362000 13.52 0.54 0.47 -0.08 44.27 53.51 9.24

INFY 3258625 3222625 -1.10 0.68 0.54 -0.13 22.86 22.12 -0.74

ITC 21274000 21385000 0.52 0.44 0.38 -0.06 27.26 25.67 -1.59

JPASSOCIAT 67472000 59216000 -12.24 0.35 0.32 -0.03 60.00 69.51 9.51

NTPC 29124000 31030000 6.54 0.39 0.32 -0.07 27.61 27.39 -0.22

ONGC 8193000 7981000 -2.59 0.90 0.85 -0.05 35.56 32.87 -2.69

RANBAXY 7392000 7292000 -1.35 0.75 0.89 0.14 30.02 34.27 4.25

RCOM 33012000 33124000 0.34 0.54 0.51 -0.03 48.92 51.18 2.26

RELIANCE 11642000 12354750 6.12 0.34 0.33 -0.01 33.95 34.74 0.79

NIFTY 13409300 12960700 -3.35 1.04 1.05 0.02 29.55 30.34 0.79

SAIL 28112000 23800000 -15.34 0.71 0.44 -0.26 51.98 70.99 19.01

SBIN 3975000 4260000 7.17 0.79 0.70 -0.09 51.84 53.45 1.61

TATASTEEL 10828000 12315000 13.73 0.49 0.63 0.14 42.49 44.97 2.48

UNITECH 142392000 155100000 8.92 0.23 0.23 0.00 77.89 86.46 8.57

IMPORTANT INDICATORS OF NIFTY AND OTHER ACTIVE FUTURE CONTRACTS

OPEN INTEREST PCR RATIO IMPLIED VOLATILITY

SCRIPTS PREV. CURRENT % PREV. CURRENT PREV. CURRENT WEEK WEEK CHANGE WEEK WEEK CHANGE WEEK WEEK CHANGE

DERIVATIVES

Put Call Ratio Analysis : The Put-Call open interest ratio of Nifty has increased to

1.05 from 1.04. At the end of the week, the maximum stocks had a negative of

change in put call open interest ratio.

Implied Volatility Analysis : The Implied Volatility (IV) for Nifty futures this week

has increased to 30.34% from 29.55%. The IV of the stock futures has changed this

week ranging from -4.64% to 19.01%.

Open Interest Analysis : The open interest for the index at the end of this week

has decreased by 3.35% as compared to the previous week. All future stocks saw

changes in their open interest ranging from -15.34% to 13.73%. TATASTEEL has the

maximum increase in open interest as compared to other stocks.

Statistical Analysis·

Open 6900.00 High 6902.00

Low 6692.00 Close 6726.45

NIFTY & IV CHART NIFTY ANALYSIS

®

25

26

27

28

29

30

31

32

6600

6700

6800

6900

25-Apr 28-Apr 29-Apr 30-Apr

Nifty Close IV

Turmeric futures (May) is expected to remain below 7100 levels, owing to profit booking from higher levels. However, the downside may remain capped near 6500 levels, supported by rising spot prices in spot markets. The demand from north Indian stockist have started coming in & there are expectations for the demand to rise in the days to come. The upcountry buyers are interested in quality turmeric and are procuring all the bags of hybrid turmeric. Jeera futures (May) is likely to remain stable taking support above 10200 levels. The upside momentum may regain strength towards 10950 levels, surpassing 10800 levels on the back of rising demand in the spot market. The market participants are hoping that exports would possibly rise in the coming months amidst reports of lower production in Turkey and Syria. The multi-week rise in cardamom futures (June) is likely to witness some pause & consolidate in the range of 950-1020 levels. The fundamentals depict that exporters have slowed down their buying as no fresh orders were received following an upsurge in prices. Moreover, Guatemala continued to offer to the main market for the commodity in West Asia at competitive rates. On the contrary, there is news that the growers are expecting a late crop this year because of continuous dry spell in the cardamom growing tracts. During the current season ending July, arrivals are 18,744 tonnes, while sales are 18,223 tonnes. Coriander futures (May) is expected to show some upside momentum taking support above 9200 levels. It is reported that the masala millers are buying at lower levels & taking advantage of the recent fall in prices in the past weeks.

SPICES

Bullion counter may remain in the red zone as a drop in SPDR holdings and Fed tapering is keeping the prices on the weak side. Meanwhile, rising greenback and recovery in the US economy can keep the prices downbeat. But any increase in geopolitical tensions in Ukraine may cap the downside as it increases safe haven demand for yellow metal. On the domestic bourses, strength in local currency may cap the upside as it can move in the range of 59.40-61.20 levels. Gold may move in the range of 27000-29000 in MCX. White metal silver can hover in the range of 39000-43000. Recently the U.S. central bank reduced monthly asset buying to $45 billion on April 30 with the fourth straight $10 billion cut, and policy makers said further reductions in measured steps are likely. A gauge of U.S. manufacturing rose in April while household purchases, which account for about 70 percent of the larger economy, have added the most since August 2009. The gold/silver ratio, which measures the number of silver ounces needed to buy an ounce of gold, hit its highest since August 2010 last week near 68, putting silver at its cheapest versus gold in more than 3-1/2 years. U.S. physical demand, however, showed signs of improving. American Eagle gold bullion coin sales in April recovered from a seven-month low in March as retail buying picked up. Last week, Fed stated that the economy "will expand at a moderate pace and labor market conditions will continue to improve gradually “.

BULLIONS

10

®

The base metals pack may remain sideways with a negative bias on rising greenback and slow manufacturing activity in China. China's official purchasing managers' index registered 50.4 in April as compared to 50.5 estimated. A similar Chinese manufacturing measure from HSBC Holdings PLC and Markit Economics Ltd. released last week rose to 48.3 from 48, indicating the nation's economy continued to stall in April. Recently there was marked contractions in imports of raw materials from Indonesia, reflecting the impact of an export ban on metal ores. Nickel ore imports from Indonesia fell 59% y/y, whilst bauxite imports from the same destination fell 60% y/y. Nickel prices can move in the range of 1080-1140 in MCX in the near term. Red metal, copper can trade in the range of 396-415. Freeport's Indonesian subsidiary produced 140 million pounds of copper, down from 219 million pounds a year earlier. It milled ore at about half its normal rate in the first quarter, roughly 118,000 tonnes of ore per day. A weak copper price and tighter financing are forcing mining companies to cut or stall spending on exploring to their lowest levels in four years as they focus instead on axing costs and reducing debt. Aluminum can move in the range of 104-108. Battery metal lead can move in the range of 122-128 in MCX while Zinc can hover in the range of 119-127. The U.S. auto industry in April rebounded sharply from a bitter and extended winter, with car sales rising 8 percent from the previous year.

BASE METALS

Crude oil prices are expected to remain on weaker path due to increase in stockpiles coupled with a rise in the greenback. The U.S. economy expanded at an annual rate of just 0.1% in the first quarter, well below forecasts for an expansion of 1.2%. Despite the sharp slowdown in growth the Federal Reserve stated last week that it would reduce its monthly bond purchases to $45 billion from $55 billion. Gasoline supplies increased by 1.56 million barrels to 211.6 million, while stockpiles of distillate fuel, a category that includes heating oil and diesel, expanded by 1.94 million to 114.4 million, according to the EIA. Both fuels have posted the biggest inventory gains since January. Refineries operated at 91 percent of capacity in the seven days ended April 25, unchanged from the prior week when operating rates climbed to the highest level this year. Tensions between US and Russia over Ukraine have supported the crude oil prices recently. Russian President Vladimir Putin has warned further penalties may trigger a response against foreign companies in Russia's energy and other industries. Crude oil prices may trade in the range of 5900-6200 in MCX and $97-104 on NYMEX. Natural gas prices may witness sideways movement in the range of 273-294 in MCX. According to EIA “U.S. marketed gas production may climb 3 percent this year to an all-time high of 72.29 billion cubic feet a day, a fourth consecutive record”. The number of rigs drilling for gas in the U.S. rose by seven last week to 323, rebounding from a 21-year low.

ENERGY COMPLEX

Soybean futures (June) is expected to trade in the range of 4560-4820 levels. Statistics show that the domestic crushing has sunk to 4-year low. Since the start of this year, soybean prices on the spot markets have gone up nearly 24% to ̀ 4,814 a quintal, but refined oil prices have risen merely 5.92 % to `738 per 10 kg due to cheaper imports. It is reported that India's crushing capacity is 22.5 million tonnes, however, only 10% of the units are in operation and using 25% to 30% of their capacities. On the Chicago Board of Trade, U.S soybean futures will possibly witness an extended bearish fall on talks that planting in the U.S. will accelerate as the weather turns warmer and drier. In the days to come, investors will eye the World Agricultural Supply and Demand Estimates Report (WASDE) to be released by U.S Department of Agriculture on May 9th. Mustard futures (June) is likely to trade sideways, with any short covering facing resistance near 3630 levels due to lesser off takes. The plant deliveries for Jaipur line traded at `3, 490-95 a quintal. Crude palm oil futures (May) is likely to extend its downfall towards 540 levels on account of bearish global cues. Moreover, the stockist at the spot markets are keeping away from bulk buying amid lack of any fresh cues of demand. The market participants on the international platform would keep a focus on the release of Malaysian palm oil export data for the period of May 1-10 by the cargo surveyors & Malaysia's end-April palm oil stocks, exports and production on May 12 by the Malaysian Palm Oil Board.

OIL AND OILSEEDS

OTHER COMMODITIES

The upside price movement in Wheat futures (June) is likely to remain capped, facing resistance near 1595 levels. India's current wheat crop, sown in October and November, is now being harvested, and indications are that it will hit a record high of close to 96 million metric tonnes, topping the previous record of just less than 95 million tonnes for the crop year that ended in June 2012. The government stated that its wheat procurement for the 2014-15 marketing year (ending March 2015) is likely to be below the last year's level of 25 million tonnes (Mt) due to poor quality of the crop. The pace of wheat procurement in Punjab is very slow due to delayed harvest in the state, following recent unseasonable rains. Maize futures (June) is expected to consolidate in the range of 1150-1185 levels & trade with a downside bias. The spot market is witnessing selling pressure on the heels of fresh supplies in Bihar Mandi coupled with mute export demand. It is reported that about 10-20 thousand bags of new arrivals have been reported in the state of Bihar & the arrivals are likely to gain momentum in the coming days. On CBOT, corn prices have slid to their lowest in more than a week due to forecast of improved weather in the U.S. Midwest. Meteorologists have forecast warmer and drier weather in the central and southern portions of the Midwest that are expected to provide farmers an opportunity to catch up on behind-schedule plantings. Sugar futures (June) would possibly fall towards 3120 levels. The Vashi market carries over 115 truckloads of stocks hence stockists are shying away from bulk buying.

11

TECHNICAL RECOMMENDATIONS

COMMODITY

CRUDE OIL MCX (MAY) contract closed at `5999.00 on 1st May '14. The contract made its high of

`6322.00 on 21st April '14 and a low of ̀ 5928.00 on 2nd Apr '14. The 18-day Exponential Moving Average

of the commodity is currently at ̀ 6128. On the daily chart, the commodity has Relative Strength Index (14-day) value of 38.22. One can buy in

the range 6000-5980 with the stop loss of ̀ 5950 for a target of ̀ 6150.

NATURAL GAS MCX (MAY) contract closed at 286.00 on 1st May '14. The contract made its high of

`294.70 on 23rd April '14 and a low of ̀ 271.00 on 7th April '14.The 18-day Exponential Moving Average of

the Commodity is currently at ̀ 284.

On the daily chart, the commodity has Relative Strength Index (14-day) value of 53.One can buy in the

range 283-280 with the stop loss of ̀ 275 for target of ̀ 295.

`

SILVER MCX (JULY) contract closed at 41534.00 on 1st May '14. The contract made its high of 44581.00

on 10th April '14 and a low of `41200.00 on 1st May '14.The 18-day Exponential Moving Average of the

Commodity is currently at ̀ 43034.

On the daily chart, the commodity has Relative Strength Index (14-day) value of 28.48. One can buy in

the range 41200-41000 with the stop loss of ̀ 40700 for a target of ̀ 43200.

` `

®

CRUDE OIL MCX (MAY)

NATURAL GAS MCX (MAY)

SILVER MCX (JULY)

NOTES : 1) These levels should not be confused with the daily trend sheet, which is sent every morning by e-mail in the name of Daily report- commodities (Morning Mantra).

2) Sometimes you will find the stop loss to be too far but if we change the stop loss once, we will find more strength coming into the commodity. At the moment, the stop loss will be far as we are seeing the graphs on weekly basis and taking a long-term view and not a short-term view.

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

PRICE CHANGED CHANGED STOP/LOSS

NCDEX** SOYABEAN MAY 4777.50 10.10.13 UP 3786.00 4500.00 - 4400.00

NCDEX** JEERA MAY 10490.00 03.10.13 DOWN 12747.50 - 10600.00 10800.00

NCDEX** CHANA MAY 3072.00 10.04.14 SIDEWAYS

NCDEX** RM SEEDS MAY 3537.00 06.03.14 UP 3564.00 3320.00 - 3220.00

MCX** MENTHA OIL MAY 825.80 13.11.13 SIDEWAYS

MCX** CARDAMOM MAY 963.20 21.03.14 UP 843.80 920.00 - 900.00

MCX* SILVER JULY 41534.00 26.09.13 DOWN 48639.00 - 43500.00 44000.00

MCX* GOLD JUNE 28580.00 27.03.14 SIDEWAYS

MCX* COPPER JUNE 406.95 13.03.14 DOWN 399.60 - 412.00 417.00

MCX* LEAD MAY 125.70 23.04.14 UP 132.05 125.00 - 122.00

MCX* ZINC MAY 122.25 23.04.14 UP 126.45 121.00 - 118.00

MCX* NICKEL MAY 1108.10 16.01.14 UP 903.90 1090.00 - 1060.00

MCX* ALUMINUM MAY 106.35 01.05.14 DOWN 106.35 - 111.00 114.00

MCX* CRUDE OIL MAY 5999.00 01.05.14 SIDEWAYS

MCX* NATURAL GAS MAY 286.00 23.04.14 UP 293.80 280.00 - 270.00

TREND SHEET

*Closing as on 01 May 2014 **Closing as on 30 April 2014

COMMODITY

NEWS DIGEST

It was a bearish week for the commodities market with many economic releases and events in US.

Prices have fallen because of some offbeat data and stimulus cut announcement. Fall was more in

Indian markets because of appreciation in rupee after a multi week fall. Bullion counter was in

grip of bears, whereas silver witnessed a sharper fall. Gold headed for a weekly loss after the

Federal Reserve pressed on with cuts to stimulus amid signs of a recovery in the U.S. and holdings

in the largest bullion-backed Exchange Traded Fund contracted to a five-year low. In the energy

counter, crude was down whereas natural gas saw marginal upside. WTI headed for a second

weekly decline as crude stockpiles at a record high expanded further in the U.S., the world's

biggest oil consumer. Crude supplies increased by 1.7 million barrels to 399.4 million in the seven

days ended April 25, the highest level since the Energy Information Administration began

reporting weekly data in 1982. Poor data from US and China exerted pressure on industrial metals

too. Copper fell after manufacturing expanded less than estimated in China, the biggest

consumer of the metal. China's official Purchasing Managers' Index registered 50.4 in April,

according to statistics bureau and logistics federation data. Off loading of positions by

speculators due to sluggish demand from battery-makers in the spot market kept pressure on lead

prices at futures trade.

Even most of the agro commodities traded with weak bias. Oilseeds and edible oil moved down.

Besides sluggish demand in the spot market, adequate stock position mainly weighed on crude

palm oil prices at futures trade. Malaysian palm oil futures slipped to a near three-week low,

tracking volatile soya oil markets overseas, although a slight pick-up in export demand provided

some support to the tropical oil. Continuous fall in chana prices can be attributed to increased

supplies from producing regions as against sluggish demand in the spot market. Fall in potato

prices was mostly due to offloading of positions by speculators on low demand in the spot markets

against higher supplies from producing regions. Sugar futures edged down due to slack demand in

local markets, though an estimated drop in production restricted the downside. Guar seed

futures hit a contract high early on Wednesday on forecast of weak monsoon and thin arrivals, but

shed some weekly gain due to profit-taking. In spices, turmeric futures fell on higher stocks and

lower-than-expected export demand. Jeera futures edged down on slack demand from local

buyers and below-expected overseas demand amid sufficient supplies in the local market.

WEEKLY COMMENTARY

WEEKLY STOCK POSITIONS IN WAREHOUSE (NCDEX)

COMMODITY UNIT 24.04.14 29.04.14 DIFFERENCEQTY. QTY.

CASTOR SEED MT 122579 124886 2307

COTTON SEED (INDL. GR.) MT 10 10 0

COTTONSEED OILCAKE MT 100047 98093 -1954

GUARGUM MT 6612 7021 409

GUARSEED MT 7130 7219 89

JEERA MT 2648 2696 48

MAIZE MT 16001 15901 -100

RAPE MUSTARD SEED MT 43672 52169 8497

SOYABEAN MT 14924 15164 240

SUGAR MT 29799 31947 2148

TURMERIC MT 440 450 10

WHEAT MT 1998 1701 -297

COMMODITY UNIT 23.04.14 29.04.14 DIFFERENCE

QTY. QTY.

CARDAMOM MT 42.80 43.10 0.30

KAPASIA KHALLI BALES 4477.85 4049.72 -428.13

GOLD KGS 42.00 42.00 0.00

GOLD MINI KGS 11.00 11.00 0.00

GOLD GUINEA KGS 30.82 30.82 0.01

MENTHA OIL KGS 1293691.65 1184585.60 -109106.05

MILD STEEL MT 0.00 0.00 0.00

SILVER (30 KG Bar) KGS 12877.54 12414.24 -463.30

•CME Group Inc plans to launch a physically deliverable

gold futures contract in Asia.

•U.S. futures exchange CME Group Inc is considering the

introduction of daily limits on price moves in gold and

silver futures in a bid to rein in wild volatility.

•The launch of October 2014 expiry futures contracts in

Refined Soya Oil on NCDEX which is scheduled to be

launched on May 01, 2014 has been deferred till further

notice.

•The world inventories of cotton will reach 20.87 million

tonnes by the end of July 2015, down from an estimate

of 21.05 million tonnes it gave on April 1. - The

International Cotton Advisory Committee

•Import of gold bars fell 47 per cent to `32,540 crore in

2013-14 from `61,431 crore a year ago. Inward

shipments of gold jewelry declined sharply to `3,497

crore from `25,037 crore in the review period. - Gems

and Jewellery Export Promotion Council

WEEKLY STOCK POSITIONS IN WAREHOUSE (MCX)

12

®

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

4.61

3.99

3.33

2.80

2.37

-4.00

-3.63 -3.57

-2.31 -2.24

-5.00

-4.00

-3.00

-2.00

-1.00

0.00

1.00

2.00

3.00

4.00

5.00

6.00

SOYAMEAL BR. CRUDE OIL PVC NEW GUAR GUM GUAR SEED SILVER NEW COPPER TURMERIC CRUDE OIL100 GMS

2.51

2.15

0.520.32

-4.57

-4.12 -4.05

-2.99

-5.00

-4.00

-3.00

-2.00

-1.00

0.00

1.00

2.00

3.00

KAPASKHALI GOLD M GOLD PETAL (DEL) NATURAL GAS POTATO SILVER MIC LEAD COPPER

COMMODITY

COMMODITY EXCHANGE CONTRACT 25.04.14 01.05.14 CHANGE%

ALUMINIUM LME 3 MONTHS 1852.50 1785.00 -3.64

COPPER LME 3 MONTHS 6765.00 6645.00 -1.77

LEAD LME 3 MONTHS 2162.00 2090.00 -3.33

NICKEL LME 3 MONTHS 18445.00 18285.00 -0.87

ZINC LME 3 MONTHS 2056.00 2021.00 -1.70

GOLD COMEX JUNE 1300.80 1283.40 -1.34

SILVER COMEX JULY 19.72 19.04 -3.42

LIGHT CRUDE OIL NYMEX JUNE 100.60 99.42 -1.17

NATURAL GAS NYMEX MAY 4.66 4.72 1.31

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

WEEKLY STOCK POSITIONS IN LME (IN TONNES)

COMMODITY STOCK POSITION STOCK POSITION DIFFERENCE

24.04.14 01.05.14

ALUMINIUM 5316650 5352900 36250

COPPER 240975 233325 -7650

NICKEL 276888 276846 -42

LEAD 196275 193625 -2650

ZINC 792025 777000 -15025

INTERNATIONAL COMMODITY PRICES

COMMODITY EXCHANGE CONTRACT UNIT 25.04.14 01.05.14 CHANGE(%)

Soya CBOT JULY Cent per Bushel 1494.25 1461.00 -2.23

Maize CBOT JULY Cent per Bushel 512.75 507.00 -1.12

CPO BMD JUNE MYR per MT 2676.00 2640.00 -1.35

Sugar LIFFE AUG 10 cents per MT 477.60 478.40 0.17

13

®

SPOT PRICES (% change) Procedure for Delivery & Validity Period of Cardamom atExchange accredited Dry Warehouse/ Cold Storage on MCX

A. Procedure for deposit

1. The depositor shall intimate the Warehouse/Cold storage Manager by Letter/Fax/e-mail/Phone Call about the intention of depositing goods in the Warehouse at least two days in advance.

2. The depositor has to bring current season crop and the stock should have gone through the appropriate grading process to ensure the standard quality parameters as prescribed by the Exchange.

3. Delivery shall be accepted at the designated delivery center strictly between 9.30 am to 5.30 pm.

4. Weighment of each and every bag shall be carried out in the warehouse itself, and the weight of each bag shall be 50 Kg net (Excluding the weighment of empty bag) with no tolerance limit.

5. The depositor should carry cardamom of 350 gms extra per quintal as quality analysis sample failing which warehouse receipt will be issued with net weight after deducting 350gm, which will be taken as representative sample.

6. Warehouse receipt will be issued per quintal basis with the same grade and size.

7. The depositor has to take out the stock which does not conform to the quality specification immediately. Even though the invalid stock is allowed for professional storage for a certain period, the depositor has to lift the stock as and when asked by the warehouse manager. In such case, the warehouse manager shall give a written notice of 7 days to the depositor. In case the depositor fails to lift the stock within 7 days, then the warehouse manager will take appropriate action as per the terms and conditions of storage, as per the provisions of State Warehousing Act and of any other applicable laws. The Exchange shall not be liable or responsible for such stocks.

8. Warehouse Service Provider (WSP) shall collect one month storage charge in advance at the time of deposit.

9. All charges pertaining to the loading/unloading of stocks in the warehouse / cold storage shall be borne by the holder of the stock and shall be paid directly.

B. Expired Stock

On expiry of the validity period of the stocks deposited, the depositor/buyer has to take out the goods from the warehouse within the validity period. If the depositor/buyer fails to remove the goods within the time frame, the Members/Clients are advised to check the storage charges applicable, in such cases, with the Warehouse. The Exchange shall not be liable or responsible for such stocks.

C. Bag Weight deduction

Warehouse Receipt will be issued excluding packing weight basis and same shall be deducted on actual basis.

D. Sampling method & Sample Size

Sampling shall be done as per IS 13145:1993. All the bags of the lot shall be selected for sampling. If the size/color of the capsule of all the bags is same then the content will be mixed thoroughly before taking increments. The gross sample size for cardamom shall be 1.5 Kg out of which the representative sample size will be 350gms which will be kept as a reference sample in the warehouse/Cold storage for future reference.

E. Validity Period

For any fresh deposits made on or before the 15th of a month the Final Expiry date (FED) /Validity would be calculated counting the current calendar month as the first month. The minimum validity period of the quality certificate post expiry date of the contract in which the commodity has been tendered shall be 15 days or the Final Expiry date whichever comes first.

-2.42

-1.82

-1.16

-0.82

-0.47

-0.23

-0.17

0.34

0.48

0.69

0.83

1.96

2.13

2.31

2.33

3.20

6.11

7.22

7.91

-4.00 -2.00 0.00 2.00 4.00 6.00 8.00 10.00

MASOOR (INDORE)

SILVER 5 KG (DELHI)

CHILLI (GUNTUR)

CHANA (DELHI )

PEPPER MALABAR GAR (KOCHI)

BARLEY (JAIPUR)

GOLD 10 GMS (MUMBAI)

CORIANDER (KOTA)

TURMERIC (NIZAMABAD)

JEERA (UNJHA)

CRUDE PALM OIL (KANDLA)

REFINED SOYA OIL (INDORE)

MUSTARD (JAIPUR)

RAW JUTE (KOLKATA)

RUBBER (KOCHI)

GUR (MUZAFFARNGR.)

SOYABEAN (INDORE)

GUAR GUM (JODHPUR)

GUAR SEED (JODHPUR)

CURRENCY

Currency Table

Currency Pair Open High Low Close

USD/INR 60.63 60.98 60.43 60.56

EUR/INR 83.77 84.52 83.56 83.87

GBP/INR 101.79 102.50 101.49 101.93

JPY/INR 59.32 59.49 58.99 59.07

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

News Flows of last week

30th Apr Fed showed faith in U.S. economy with bond-buying reduction

30th Apr China PMI steadies, but doesn't dispel growth worries

30th Apr U.S. manufacturing activity slowed for a second straight month in April,

01st May U.S. construction spending rose less than expected in March

01st May U.S. manufacturing growth accelerated for a third straight month in April

01st May U.S. auto sales rose 8.1 percent in April

01st May Japan's consumption has not slowed as much as feared: Abe

EUR/INR (MAY) contract closed at 83.87 on 30th April'14. The contract made its high of ̀ 84.52 on 29th April'14 and a low of ̀ 83.56 on 28th April'14 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 83.87.

On the daily chart, EUR/INR has Relative Strength Index (14-day) value of 47.67. One can buy above 84.20 for a target of 85.25 with the stop loss of 83.70

`

JPY/INR (MAY) contract closed at 59.07 on 30th April'14. The contract made its high of 59.49 on 29th April'14 and a low of ̀ 58.99 on 30th April'14 (Weekly Basis). The 14-day Exponential Moving Average of the JPY/INR is currently at ̀ 59.22.

On the daily chart, JPY/INR has Relative Strength Index (14-day) value of 44.29. One can sell around 59.15 for a target of 58.00 with the stop loss of 59.75

Market Stance

Indian rupee ended the week with positive note and hit three week high in last

week trading session as month end dollar demand by oil companies faded and

as exporters and large state owned banks seen selling dollars. Moreover,

overseas weakness in dollar also supported the local currency to some extent.

In the international markets, sterling rose to its highest in nearly five years as

against the dollar after a forecast-busting UK Manufacturing Purchasing

Managers' Index (PMI) survey for April. However gains were seen limited in

later part of the week as local shares fell to two and a half week lows on

account of profit booking at higher levels. Until the outcome of elections on

May 16, we expect global factors and foreign flows to largely drive direction

for the rupee.

EUR/INR

USD/INR (MAY) contract closed at `60.56 on 30th April'14. The contract made its high of ̀ 60.98 on 29th April'14 and a low of ̀ 60.43 on 28th April'14 (Weekly Basis). The 14-day Exponential Moving Average of the USD/INR is currently at ̀ 60.60.

On the daily chart, the USD/INR has Relative Strength Index (14-day) value of 43.96. One can sell below 60.70 for a target of 59.70 with the stop loss of 61.20.

GBP/INR (MAY) contract closed at 101.93 on 30th April'14. The contract made its high of 102.50 on 29th April'14 and a low of ̀ 101.49 on 28th April'14 (Weekly Basis). The 14-day Exponential Moving Average of the EUR/INR is currently at ̀ 101.78.

On the daily chart, GBP/INR has Relative Strength Index (14-day) value of 54.10. One can buy above 102.60 for a target of 103.75 with the stop loss of 101.90.

`

USD/INRTechnical Recommendation

GBP/INR JPY/INR

Economic gauge for the next week

Date Currency Event PREVIOUS

06th May JPY JPY Bank of Japan April 7-8 meeting minutes

08th May GBP GBP Bank of England Rate Decision 0.50%

08th May GBP GBP BOE Asset Purchase Target 375B

08th May EUR EUR ECB Marginal Lending Facility 0.75%

08th May EUR EUR ECB Deposit Facility Rate 0.00%

08th May EUR EUR European Central Bank Rate Decision 0.25%

14

®®

IPO

IPO NEWSIPO NEWS

GMR Energy withdraws DRHP filed with SEBI

GMR Infrastructure says due to various business reasons GMR Energy along with the selling shareholders have withdrawn the DRHP filed with the Securities and

Exchange Board of India (SEBI) on April 28, 2014. GMR Energy had filed a draft red herring prospectus with SEBI on March 28. GMR Energy Trading is a part of the

prestigious GMR Group of companies. The GMR Group has a significant presence in the power sector through its power companies, under the flagship of GMR

Energy. GMR Group has a current installed capacity of 823 MW of power projects with nearly 8000 MW under various stages of implementation and development.

The Securities and Exchange Board of India (Sebi) fines Amadhi Investments ̀ 2.50 cr in IPO case

Capital market regulator Sebi slapped a penalty of ̀ 2.50 crore on Amadhi Investments for indulging in fraudulent and manipulative activities in the initial public

offerings (IPO) of three companies, including IDFC and Sasken Communication Technologies. The Securities and Exchange Board of India (SEBI) has found that

Amadhi Investments financed one Sugandh Estates and Investments in the IPOs of IDFC, Sasken and FCS Software Solutions with the purpose of cornering shares

reserved for retail investors. SEBI also noted that "the nefarious design" adopted by Amadhi Investments in cornering the shares had deprived retail investors of

opportunity of getting allotment in the IPOs. Accordingly, the regulator has imposed "a penalty of ̀ 2.50 crore on Amadhi Investments Ltd" for violation of SEBI

(Prohibition of Fraudulent and Unfair Trade Practices relating to the Securities Market) Regulations 2003, the ordern said.

The Securities and Exchange Board of India (Sebi) imposes ̀ 2 cr fine on 4 entities in Vaswani IPO case

Capital market regulator SEBI imposed a total penalty of `2 crore on four entities for artificially inflating bid prices in the initial public offer (IPO) of Vaswani

Industries in 2011. The Securities and Exchange Board of India (SEBI) levied fines of ̀ 75 lakh on Rikhav Brokers, ̀ 25 lakh on AHL Investment Consultants and ̀ 50

lakh each on Manba Broking Services and Manba Investments & Securities. SEBI noted the bids were made by the entities without sufficient funds and "were

definitely not genuine, but were caused with purpose to artificially inflate the bid book at the highest price and to create misleading interest for other investors

to subscribe in the issue." The bidding for the issue opened on April 29, 2011, and closed on May 3, 2011.

15

*Closing prices as on 30-04-2014

®

IPO TRACKER

Just Dial service provider 8268.58 950.11 5-Jun-13 530.00 590.00 1178.70 122.40

Repco Home Fin Finance 2327.27 270.39 1-Apr-13 172.00 165.00 374.40 117.67

V-Mart Retail Trading 571.04 123.00 20-Feb-13 210.00 216.00 317.95 51.40

Bharti Infra. Telecom 40941.16 4533.60 28-Dec-12 220.00 200.00 216.70 -1.50

PC Jeweller Jewellary 1644.14 609.30 27-Dec-12 135.00 135.50 91.80 -32.00

CARE Rating Agency 2288.10 540.00 26-Dec-12 750.00 949.00 789.00 5.20

Tara Jewels Jewellary 253.59 179.50 6-Dec-12 230.00 242.00 103.00 -55.22

VKS Projects Engineering 34.65 55.00 18-Jul-12 55.00 55.80 0.55 -99.00

Speciality Rest. Restaurants 634.90 181.96 30-May-12 150.00 153.00 135.20 -9.87

T B Z Jewellary 934.80 210.00 9-May-12 120.00 115.00 140.15 16.79

MT Educare Miscellaneous 375.72 99.00 12-Apr-12 80.00 86.05 94.45 18.06

NBCC Construction 2512.80 124.97 12-Apr-12 106.00 100.00 209.40 97.55

Olympic card. Media 45.34 24.75 28-Mar-12 30.00 29.95 27.80 -7.33

Multi Comm. Exc. Exchange 2721.64 663.31 9-Mar-12 1032.00 1387.00 533.55 -48.30

Indo Thai Sec. Finance 12.15 29.60 2-Nov-11 74.00 75.00 12.15 -83.58

Vaswani Inds. Steel 8.14 49.00 24-Oct-11 49.00 33.45 2.84 -94.20

Flexituff Intl. Packaging 561.04 104.63 19-Oct-11 155.00 155.00 225.50 45.48

Prakash Constro. Construction 12.32 60.00 4-Oct-11 138.00 145.00 0.98 -99.29

PG Electro. Consumer Durables 227.77 120.65 26-Sep-11 210.00 200.00 138.80 -33.90

SRS Jewellary 486.12 203.00 16-Sep-11 58.00 55.00 34.90 -39.83

TD Power Sys. Capital Goods 914.43 227.00 8-Sep-11 256.00 251.60 275.10 7.46

Tree House Edu. Miscellaneous 1192.67 112.06 26-Aug-11 135.00 132.80 321.30 138.00

Inventure Grow. Finance 84.08 81.90 4-Aug-11 117.00 119.00 10.01 -91.44

Readymade Steel Steel 324.65 34.75 13-Jul-11 108.00 115.00 263.55 144.03

Birla Pacific Healthcare 4.71 65.18 7-Jul-11 10.00 10.10 0.42 -95.80

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

*

FIXED DEPOSIT MONITOR

16

• Interest structure may be revised by company from time to time. Pls confirm Interest rates before submitting the application.

* For Application Greater Than Rs. Fifty Lakhs Or equal to Fifty Lakhs, Please Contact to Head Office.

* Email us at fd@smcindiaonline.com

NON BANKING FINANCIAL COMPANIES & HFC

PERIOD MIN.REMARKS

S.NO (NBFC COMPANY -NAME)12M 18M 24M 36M 45M 48M 60M 84M INVESTMENT

1 BAJAJ FINANCE LTD. 9.25 9.75(15M) 9.40 9.65 - 9.25 9.25 - 0.25% FOR SR. CITIZEN LOCATION WISE

2 DEWAN HOUSING FINANCE CORPORATION LTD 13M=10.50% 14M=10.50% 40M=10.50% 0.50% EXTRA FOR SR. CITIZEN,WIDOW, -

ARMED, PERSONNEL, EXISTING DHFL HOME

BORROWERS & DHFL SHARE HOLDERS, FOR

13M=0.25% EXTRA FOR DEPOSIT 1 CR AND

ABOVE, 14M=0.25% EXTRA ON 25LAC & ABOVE

3 DEWAN HOUSING FINANCE CORPORATION LTD (AASHRAY) 10.00 - 10.00 10.00 - 10.00 - 10.00 0.50% FOR SR. CITIZEN, WIDOW, ARMED 10,000/-

PERSONNEL, EXISTING DHFL HOME

BORROWERS & DHFL SHARE HOLDERS,

0.25% FOR DEPOSIT RS.25LAC & ABOVE

4 GRUH FINANCE LTD. 9.00 - 9.25 9.50 - 9.50 9.25 9.25 0.25% FOR SR. CITIZEN & TRUST 1000/-

5 HDFC (INDIVIDUAL & TRUST ) - REGULAR <1 CR 9.25 - 9.25 9.25 - 9.00 9.00 - 0.25% FOR SR. CITIZEN. 20,000/-

6 HDFC PLATINUM SCHEME 9.60(15M) 9.60(22M) 9.50(33M) - 20,000/-

7 HUDCO LTD. 9.15 - 8.85 8.90 - 8.75 8.75 8.25 0.25% FOR SR. CITIZEN -

8 KERALA TRANS DEVELOP FINANCE CORP LTD 10.25 - 10.25 10.25 - 10.00 10.00 - 0.25% EXTRA FOR SR. CITIZEN & 0.25%

EXTRA IF APP AMOUNT IS RS. 25 LAC & ABOVE

9 LIC HOUSING FINANCE LTD. 9.00 9.00 9.25 9.40 - - 9.60 - 0.25% FOR SR. CITIZEN IF APP ABOVE 10000/-

RS. 50,000/- & 0.10% IF APP UPTO RS. 50,000/-

10 MAHINDRA & MAHINDRA FINANCE 9.25 9.75 10.00 10.25 - 9.75 9.75 - 0.25% EXTRA FOR SR. CITIZEN 10000/-

11 PNB HOUSING FINANCE LTD. 9.65 - 9.40 9.40 - 9.40 9.50 9.50 0.25% EXTRA FOR SR. CITIZEN UPTO 20000/-

RS.1 CRORE AND NOT FOR 1 YR SCHEME

12 SHRIRAM TRANSPORT FINANCE-UNNATI SCHEME 9.25 - 9.75 10.75 - 10.75 10.75 - 0.25% EXTRA FOR SR. CITIZEN 25000/-

(FOR TRUST ONLY)

®

MUTUAL FUND

NEWS

Mutual Fund industry lost 33 lakh investor accounts in FY14

Mutual funds lost about 33 lakh investors, measured in terms of individual accounts or folios, in the last financial year, 2013-14, primarily on account of volatility

in equity market. It was the fifth consecutive year of loss of folios by mutual funds (MF). Folios are numbers designated to individual investor accounts, although

one investor can have multiple folios. According to market regulator Sebi's data, on total investor accounts with 44 fund houses, the number of folios fell to

around 3.95 crore at the end of 2013-14, from 4.28 crore in the last fiscal (2012-13) - a decline of 33 lakh new investor accounts. In the past five financial years till

2013-14, the MF industry had lost more than 88 lakh investor accounts. MF sector, which held 4.75 crore folios at the end of financial year 2008-09, saw an

increase of 3.66 lakh new investors account to 4.8 crore in 2009-10.

Kotak MF introduces FMP Series 160 (1039 Days)

Kotak Mutual Fund has launched the New Fund Offer (NFO) of Kotak FMP Series 160 (1039 Days), a close ended income scheme. The NFO opens for subscription on May

02, 2014 and closes on May 07, 2014. The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a

view to reduce the interest rate risk. The Scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.

IDFC MF introduces Fixed Term Plan Series -92(369 Days)

IDFC Mutual Fund has launched the New Fund Offer (NFO) of IDFC Fixed Term Plan Series -92(369 Days), a close ended income scheme. The NFO opens for

subscription on May 02, 2014 and closes on May 06, 2014. The investment objective of the scheme is to generate income through investments in Debt / Money

Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).

HDFC MF introduces FMP 367D May 2014 (1)

HDFC Mutual Fund has launched the New Fund Offer (NFO) of HDFC FMP 367D May 2014 (1), a close ended income scheme. The NFO opens for subscription on May

02, 2014 and closes on May 05, 2014. The investment objective of the scheme is to generate income through investments in Debt / Money Market Instruments and

Government Securities maturing on or before the maturity date of the respective Plan(s).

Deutsche MF introduces Fixed Maturity Plan- Series 68

Deutsche Mutual Fund has launched the New Fund Offer (NFO) of Deutsche Fixed Maturity Plan- Series 68, a close ended income scheme. The NFO opens for

subscription on May 02, 2014 and closes on May 12, 2014. The investment objective of the scheme is to generate income by investing in debt and money market

instruments maturing on or before the date of the maturity of the Scheme.

Birla Sun Life MF introduces Fixed Term Plan – Series LJ (366 days)

Birla Sun Life Mutual Fund has launched the New Fund Offer (NFO) of Birla Sun Life Fixed Term Plan - Series LJ (366 days), a close ended income scheme. The NFO

opens for subscription on May 02, 2014 and closes on May 05, 2014. The investment objective of the scheme is to generate income by investing in a portfolio of

fixed income securities maturing on or before the duration of the scheme.

17

®

NFOs WATCH

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

22-Apr-2014 06-May-2014 Close-Ended Growth `5000/-L&T Emerging Businesses Fund - Regular Plan (G)

S. N. Lahiri /

Rajesh

Pherwani /

Abhijeet

Dakshikar

To generate long-term capital appreciation from a diversifi ed portfolio of predominantly equity and equity related securities, including equity derivatives, in the Indian markets with key theme focus being emerging companies (small cap stocks). The Scheme could also additionally invest in Foreign Securities. Emerging companies are businesses which are typically in the early stage of development and have the potential to grow their revenues and profi ts at a higher rate as compared to broader market.

25-Apr-2014 09-May-2014 Close-Ended Dividend `5000/-ICICI Prudential Dividend Yield Equity Fund - Regular Plan (D)

Mrinal Singh /

Vinay Sharma /

Ashwin Jain

To provide medium to long term capital gains and/or dividend distribution by investing in a well diversified portfolio of predominantly equity and equity related instruments, which offer attractive dividend yield.

7-May-2014 8-May-2014 Close-Ended Growth `5000/-HDFC Fixed Maturity Plan - 370D - May 2014 Series 31 (1) Regular Plan (G)

Anil Bamboli /

Rakesh Vyas

To generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).

29-Apr-2014 12-May-2014 Close-Ended Growth `5000/-HDFC Fixed Maturity Plan - 730D - Apr 2014 Series 31 (1) Regular Plan (G)

Anil Bamboli /

Rakesh Vyas

to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s).

18

MUTUAL FUND Performance Charts

Returns (%) Risk Market Cap (%)

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

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

ICICI Prud. Exports and Other Services Fund - G 28.91 30-Nov-2005 299.50 4.63 14.81 51.28 17.80 13.44 1.67 0.46 0.38 60.14 26.80 2.84 10.22

Reliance Small Cap Fund - Growth 13.79 16-Sep-2010 360.85 19.24 35.48 43.98 11.34 9.27 1.93 0.59 0.20 59.83 32.79 4.86 2.52

Franklin India Smaller Companies Fund - G 22.53 13-Jan-2006 386.21 21.52 29.30 40.32 15.80 10.29 1.83 0.65 0.28 10.99 76.72 5.61 6.68

UTI Mid Cap Fund - Growth 45.52 09-Apr-2004 298.56 21.10 32.76 38.86 12.60 17.33 1.92 0.71 0.18 20.08 68.41 5.98 5.53

SBI Magnum Midcap Fund - Growth 34.56 29-Mar-2005 227.69 14.14 29.44 36.91 14.94 14.61 1.82 0.59 0.25 5.99 75.21 7.39 11.42

DSP BlackRock Micro Cap Fund - Reg - G 21.02 14-Jun-2007 361.32 21.05 33.54 36.49 10.24 11.40 1.93 0.66 0.10 5.99 75.21 7.39 11.42

ICICI Prudential MidCap Fund - Growth 42.35 28-Oct-2004 212.68 22.19 36.26 35.78 9.19 16.39 1.99 0.65 0.11 5.99 75.21 7.39 11.42

EQUITY (Diversified)

BALANCED

INCOME FUND

Note: Indicative corpus are including Growth & Dividend option. The above mentioned data is on the basis of 30/04/2014Beta, Sharpe and Standard Deviation are calculated on the basis of period: 1 year, frequency: Weekly Friday, RF: 7%

ULTRA SHORT TERM

SHORT TERM FUND

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

Due to their inherent short term nature, the following 2 categories have been sorted on the basis of 6month returns

Returns (%) Risk Market Cap (%)

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

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

HDFC Balanced Fund - Growth 76.73 11-Sep-2000 1227.37 13.01 19.09 24.32 10.79 16.11 1.32 0.07 26.59 41.86 1.59 29.96

SBI Magnum Balanced Fund - Growth 67.82 09-Oct-1995 488.23 10.85 14.92 21.02 10.17 15.92 1.20 0.15 32.17 32.42 3.76 31.65

ICICI Prudential Balanced - Growth 66.93 03-Nov-1999 640.08 11.75 13.63 20.46 12.67 14.01 1.25 0.11 44.74 21.16 1.81 32.29

HDFC Prudence Fund - Growth 272.75 01-Feb-1994 5145.95 16.15 20.15 19.24 8.01 19.26 1.70 0.02 38.84 28.19 7.94 25.03

Tata Balanced Fund - Plan A - Growth 113.15 08-Oct-1995 616.23 10.91 10.86 17.05 10.46 15.87 1.39 0.07 45.78 28.74 0.36 25.13

Birla Sun Life 95 - Growth 397.82 10-Feb-1995 646.47 12.07 11.50 14.97 8.00 21.11 1.38 0.06 48.71 24.61 1.27 25.42

Reliance RSF - Balanced - Growth 28.54 08-Jun-2005 536.68 12.57 14.93 14.90 8.29 12.51 1.54 0.04 53.27 14.61 7.00 25.13

Returns (%) RiskAverage Yield till

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

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

Kotak Banking and PSU Debt Fund - G 28.72 29-Dec-1998 530.72 9.39 9.47 9.54 9.97 9.92 8.9 7.12 11.55 0.15 65.7 9.75

Axis Banking Debt Fund - Growth 1178 08-Jun-2012 427.85 8.12 9.1 6.93 9.24 8.89 N.A 9.04 6.67 0.25 328.5 9.14

Templeton India Cor. Bond Oppor. Fund - G 12.73 07-Dec-2011 5685.15 16.81 20.32 11.14 10.31 8.25 N.A 10.58 14.32 0.17 930.75 10.92

Templeton India Income Oppor. Fund - G 14.55 11-Dec-2009 3885.25 15.02 17.79 10.53 9.7 8.07 9.56 8.93 13.5 0.17 744.6 10.78

Reliance RSF - Debt - Growth 17.29 09-Jun-2005 4020.55 12.15 15.33 9.35 8.92 7.92 9.02 6.32 10.23 0.17 664.3 10.43

Tata Dynamic Bond Fund - Plan A - G 19.11 03-Sep-2003 303.36 14.78 20.2 10.95 8.09 7.79 8.76 6.26 30.86 0.08 1434.45 9.3

UTI Dynamic Bond Fund - Growth 13.95 23-Jun-2010 498.87 13.42 25.06 13.89 9.61 7.6 9.54 9.02 16.56 0.12 1042.29 N.A

Annualised

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

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

Birla Sun Life Medium Term Plan - Reg - G 15.37 25-Mar-2009 2331.53 16.50 18.07 10.99 10.38 10.04 10.48 8.79 12.66 0.26 N.A 10.65

Birla Sun Life Short Term Oppor. Fund - Reg - G 20.72 24-Apr-2003 2681.61 14.49 17.15 9.85 10.07 9.79 10.38 6.83 11.54 0.29 N.A 10.11

DSP BlackRock Income Oppor. Fund - Reg - G 20.32 13-May-2003 913.16 12.09 14.15 9.81 9.80 8.40 8.73 6.67 9.79 0.14 545.53 10.55

Templeton India STIP - Growth 2592.66 31-Jan-2002 7939.51 14.41 16.35 10.26 9.73 8.44 9.58 8.09 11.97 0.19 678.90 10.73

HDFC Short Term Opportunities Fund - G 13.92 25-Jun-2010 2359.85 9.80 11.04 8.93 9.64 8.21 9.36 8.97 10.39 0.17 489.10 9.64

HDFC Short Term Plan - Growth 24.56 28-Feb-2002 1865.16 10.55 12.51 9.01 9.58 7.16 8.78 7.66 11.51 0.11 568.18 10.17

ICICI Prudential Banking & PSU Debt Fund - G 14.17 01-Jan-2010 420.11 11.54 12.42 9.17 9.54 7.48 9.09 8.39 11.81 0.13 441.34 9.36

Annualised

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

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

Birla Sun Life Treasury Optimizer Plan - Ret - G 234.17 19-Apr-2002 350.46 14.85 17.50 10.78 10.05 9.75 9.52 7.32 4.05 0.51 N.A 9.23

Birla Sun Life Treasury Optimizer Plan - DAP 144.56 22-Jun-2009 350.46 14.86 17.50 10.72 9.77 9.41 9.29 7.88 4.06 0.43 N.A 9.23

Templeton India Low Duration Fund - G 14.06 26-Jul-2010 1871.37 10.44 10.13 9.35 9.75 9.54 9.88 9.47 3.99 0.58 120.45 9.88

Baroda Pioneer Treasury Adv. Fund - Reg - G 1462.84 24-Jun-2009 636.33 8.73 8.60 8.76 9.64 9.11 9.51 8.16 4.76 0.41 136.82 9.81

Templeton India USBF - Retail - Growth 16.54 18-Dec-2007 3535.72 10.30 9.45 8.93 9.51 9.57 9.48 8.22 2.91 0.71 135.05 9.88

IDFC Ultra Short Term Fund - Reg - G 18.01 17-Jan-2006 1593.38 8.24 8.37 8.45 9.50 9.50 9.75 7.35 4.02 0.57 129.12 9.17566

Kotak Floater - LT - Growth 20.52 13-Aug-2004 1989.10 8.35 8.54 8.82 9.36 8.94 9.33 7.68 4.73 0.40 219.00 9.7

Annualised

®