Research Scorecard

December 2015

Key pillars of our equity proposition

Intensive Research

Innovative & flexible products

Dedicated team for fundamental, derivative

and technical research

cater to every clients need

Total 32 fundamental research analysts

covering 223 companies across sectors

Customised

research

solutions

for

derivatives

Strong service platform

flexibility

Dedicated equity advisors to guide you on

Execution

M i
Margins

Liquidity

product

and

Institutional services offered to our HNI

clients

Online and mobile platforms for trading

Block deals

and account tracking

VWAP trading

Online reporting systems for tracking

transactions,

in

Institutional & Corporate Services

the markets

Provide

service features

investing
g or trading
g using
g cash,, equities
q
or

Offer innovative and unique products to

profitability,

securities

position and cash movement

Compliance reporting and monitoring

services for employee accounts

Research Philosophy

Stock selection basis

Momentum

Fundamentals

Financials of the company

Growth prospects of the industry and

Quality of management

Competitive landscape

movement

Transaction volume

Technicals

Valuations

price

vis--vis

market and historical averages

company

Stock

Stock price vis--vis:

vis vis:

Chart based parameters

Peers

Moving average price

Earnings quality

Trend reversals

Intrinsic value

Historical cycles

Patterns

Research catering to client needs

Fundamentals

Momentum

Technicals

Long term
Investing

Medium term
Investing

Short term
T di
Trading

Intra day
Trading

High

Low

Absent

Research basket

Three to five years perspective Equity model portfolio

Long term
Investing

Twelve to 15 month perspective Detailed company reports

Others Top Picks, Muhurat Picks and Annual & Mid-Strategy Picks

Medium term
Investing

Three months perspective

T h Funda
Techno
F d picks,
i k Gladiator
Gl di
stocks
k

Seven to 30 days perspective

Monthly and Weekly Calls Technical & Derivatives

Stocks on the Move, Positional Derivatives and Volatility Insight

One to three days perspective

Daily
y Calls Technical, Momentum and Derivatives

Intra-day Calls BTST, Margin and Derivatives

Short term
T di
Trading

Intra day
Trading

Research Performance Long Term Investing

Detailed Company Coverage

Overall Basket

Coverage: 223 companies

Target
g achieved: 154 companies
p
(69.1% strike rate)

Nano Nivesh
Company
Atul Auto*
y
Silk Mills
Siyaram
Setco
Automotive##*
D-Link India
Wim Plast
Butterfly Gandhimathi Appliances #
Camlin Fine Sciences *
Accelya Kale
Apcotex Industries*
Sonata Software
Mastek **
CCL Products
EPC Industrie
Gandhi Special Tubes
Pitti Laminations*
MPS Ltd
Control Print
Sagar Cement
Emmbi Industries

Initiation price
(|)
48
1,001
,

CMP
(|)
553
1174

Fair Value
(|)
470.0
1250.0

Return
(%)
1052.1
17.3

21.6
27
329
204
47
686
87.5
120
NM
116
150
240
60
880
528
426
84

40
164
1990
282
103
962
229
173
188
211
154
241
49
770
585
458
77

38.2
223.0
1620.0
240.0
110.0
1050.0
230.0
200.0
600.0
264.0
200.0
265.0
50.0
1300.0
643.0
600.0
110.0

76.9
507.4
504.9
38.2
119.1
40.2
161.7
44.2
NM
82.1
2.7
0.4
-18.8
-12.5
10.8
7.5
-8.6

*Stock price adjusted for bonus & splits; #Initiation price revised downwards in line with new target price; ** Fair
value is for the combined entity while CMP reflects the share price of listed services business; ## returns
calculated based on I-direct fair value

Nano Nivesh

Company
Atul Auto*

Siyaram Silk Mills

Setco
Automotive#*

D-Link India

Wim Plast

Initiated: 19 companies

Initiation price CMP Fair Value

48

1001

21.6

27

329

553

1174

40

164

1990

470

1250

38

223

1620

Return (%)
1052.1

Comment
Date of initiation
Of late, Atuls volumes have been under pressure mainly due to weak rural demand. Also, a
delay in new product launch by six to eight months would lead to potential volume loss. Hence,
14-Sep-12
we have cut our earnings,
earnings and have a target price of | 470 with a HOLD recommendation

17.3

The initiation fair value has been achieved. We have upgraded the fair value (that was also
achieved). Considering that the company is tapping newer opportunities for growth and
spending aggressively on the promotion of its brands, we remain optimistic on its future
prospects. Some of its peers in the branded apparel space (with similar fundamentals) are
trading at significantly high multiples. We reiterate our BUY rating with a revised target price of
| 1250 (based on 10x FY17E EPS of | 125)

13-Dec-12

76.9

Our initiation fair value for the stock was | 140-150. However, after the stock had fallen to ~|
65, we had asked our investors to average and revised our target price to | 102, which has been
achieved. The stock has had a strong run up over the past month. After surpassing the fair
value, we recommended that investors book profit

20-Mar-13

507.4

D-Link is well placed to zero in on the upcoming internet boom in India with its portfolio of
innovative product offerings. The company is expected to post revenue, EBITDA and PAT growth
of 14.6%, 38.4% and 40.0% FY15-17E CAGR to | 821.3 crore, | 63.2 crore and | 41.8 crore by
FY17E, respectively. We value the stock at 11x FY17E P/E at a target price of | 223

20-Mar-13

504.9

The stock has run up substantially in the past 12 months and is richly valued at this price. We
believe WPL may face a challenge to improve the EBITDA margin to the historical level (~18%)
due to the entry into new product lines and higher proportion of trading revenue in the topline.
We value the stock at 17x FY17E earnings and maintain our target price of | 1620/share with a
HOLD rating

p
2-Apr-13

* Stock price adjusted for share split, # returns calculated based on I-direct fair value

10

Nano Nivesh
Company

Initiation price CMP Fair Value

Butterfly
Gandhimathi
Appliances #

Camlin Fine
Sciences *

204

47

282

103

240

110

Return (%)

38.2

119.1

Accelya Kale

686

962

1050

40.2

Apcotex Industries*

87.5

229

230

161.7

Sonata Software

120

173

200

44.2

Comment
Date of initiation
Our initiation fair value has been achieved. Post coming out of BIFR, BGAL recorded healthy
revenue growth led by capacity expansion, government orders, entry into new markets &
addition of new SKUs. BGAL is trading at a discount to its peers (TTK Prestige, Hawkins
3-Mar-14
Cookers). Though FY15 was a bad year for BGAL, we expect BGALs revenues to grow 83% YoY
6 ddriven
e by go
government
e
e oorders
de s ((| 508 ccrore)
o e) with PAT oof | 331.99 ccrore
oe
in FY16E
Our initiation fair value has been achieved. Consequently, we have upgraded our target price to
| 110, which has also been achieved. While the bottomline growth of ~13% CAGR in FY15-17E
appears modest, CFS next growth phase would hinge on its success in the Diphenol
downstream segment foray and entry into blends business (forward integration for TBHQ/BHA
business). Therefore, we believe the stock still has a strong growth trajectory and long term
value potential.
potential We retain our HOLD stance on the stock
Accelya Kale (AKL) is well positioned to capture the rising outsourcing opportunity in the airline
IT space, helped by its global parent, the Accelya group. AKLs strong financial performance
(21% PAT CAGR during FY10-15), healthy balance sheet metrics (zero debt, asset-light),
attractive dividend payout and its unique value proposition make it an attractive investment
story. Our target price has been achieved
Th reportt was initiated
The
i iti t d on July
J l 18,
18 2014 att a recommendation
d ti price
i off | 87.5
87 5 andd a target
t
t price
i
of | 108-117. The initiation fair value price had been achieved on August 4, 2014. We had,
subsequently, upgraded the target price to | 164.5, which has also been achieved. The stellar
performance in FY15 coupled with stable performance in H1FY16 have led us to upgrade the
target price to | 230. We currently have HOLD recommendation on the stock
Sonata Software (SSL) restructured its operations in 2012 to focus on the services business,
select verticals (travel, retail) and complex products (cloud). This led to an improved financial
performance (| 134 crore PAT in FY15 vs. | 3 crore loss in FY12), healthy balance sheet metric
and attractive dividend payout (50%). We revise our target price to | 200 (12x FY17E EPS) given
improving fundamentals and healthy cash (| 220 crore)

# Initiation price revised downwards inline with new target price, * Stock price adjusted for share split, *Adjusted for bonus

11

17-Jun-14

30-Jun-14

18-Jul-14

12-Sep-14

Nano Nivesh
Company

Initiation price CMP Fair Value

Return (%)

Mastek **

NM

188

600

NM

CCL Products

116

211

264

81.9

EPC Industrie

150

154

200

2.7

Comment
Date of initiation
Mastek is now trading ex-insurance business (Majesco), which has listed in India and currently
trading at | 320. The Majesco US subsidiary, which got listed on the NYSE, currently trades at
Mcap/sales metric of ~1.6x and implies market cap of $ 170 million. Potentially, 70% of this
could be reflected in the Majesco India entity and 13% in Mastek India.
India Our fair value assumes
17 Sep 14
17-Sep-14
target multiple of 2.5x on Mcap/sales, given deeper market expertise & cross-selling
opportunities while current Mcap of services business is at | 400 crore. Together, this
translates to a fair value of | 600
Led by higher sales volumes from the newly commissioned capacity in Vietnam, we expect
revenues to post a healthy CAGR of 14.8% in FY14- 17E to | 1084.8 crore in FY17E. Margins are
estimated to increase to 22.0%
22 0% by FY17E (20% in FY14) following savings in operational costs
8-Oct-14
and higher contribution of retail packs exports. Consequently, higher margins, lower interest
costs & taxes are expected to drive earnings at a robust 35.5% CAGR (FY14-17E) to | 160.2
crore in FY17E. We value the stock on 22x FY17E EPS to arrive at a target price of | 264
EPC Industrie (EPC) is a micro-irrigation system (MIS) and component manufacturer based out
of Maharashtra. EPC was acquired by M&M in FY11 and has been well capitalised over the
years On the back of the government
years.
governmentss thrust on augmenting MIS reach & strong parentage
(M&M), we have built in 20.0% sales CAGR in FY15-17E and expect the company to clock ~370
bps margin improvement in FY15-17E, albeit on a lower base (EBITDA margins in FY15 was at
27-Nov-14
2.4%). We value EPC at | 200, i.e. 2.3x MCap/sales on FY17E sales of | 238 crore. It is also
possible that the promoter group (M&M) may consolidate all its agri services related business
(crop care, seeds, fresh fruits exports, etc) into EPC Industrie albeit in the long term. Per se,
EPC is a rare play on the MIS theme that can create wealth from a three to five year
perspective, given trajectory of farmer awareness on MIS and subsequent capitalisation of
opportunity by EPC

** Fair value is for the combined entity while CMP reflects the share price of listed services business

12

Nano Nivesh
Company

Gandhi Special
Tubes

Initiation price CMP Fair Value

240

241

265

Return (%)

0.4

Pitti Laminations*

60

49

50

-18.3

MPS Ltd

880

770

1300

-12.5

Comment
Date of initiation
Gandhi Special Tubes (GST) is a leading manufacturer of small diameter seamless & welded
steel tubes, which find application in automotive, hydraulics, refrigeration (condenser tubes)
and other engineering services. GST has a lean balance sheet with no debt and net cash &
investments of | 67.4
67 4 crore (FY15).
(FY15) With minimal capex requirements,
requirements GST has gradually
increased the dividend payout to 70% in FY15 with absolute dividend at | 7.5/share. Going
6-Jan-15
forward, we expect the trend to continue. On the back of muted Q2FY16, we have downward
revised our estimates for FY16E & FY17E. We expect sales and PAT to grow at a CAGR of 7.6%
& 24.3%, respectively, in FY15-17E. We have valued GST at | 265, i.e. 16x P/E on FY17E EPS of |
16.6/share and assigned a HOLD rating to the stock.
Incorporating the muted profitability in FY16E we have revised down our estimates for Pitti post
Q2FY16 results. We expect sales and PAT to grow at a CAGR of 8.0% and 2.1% vs. 13.8% and
27.6%, respectively, earlier, in FY15-17E. On account of an elongated working capital cycle, debtequity is expected to remain at ~1.2x (FY15-17E). We have valued Pitti at | 50 i.e. 14x P/E on
FY17E EPS of | 3.6/share and assigned a HOLD rating to the stock. FY17E is expected to be the
turnaround year for Pitti wherein the company will adjust itself to the declining commodity
cycle coupled with ramp up of order by GE group companies.
companies This will drive the overall
profitability at Pitti and support our long term investment thesis on the company
MPS Ltd, earlier known as Macmillan Publishing, underwent a restructuring post its acquisition
by Adi BPO in 2011. Overall, MPS has the building blocks in place and is poised to capture
incremental opportunities in the publishing outsourcing space, by leveraging its vast service
offerings, sticky client relationships and flawless execution. We value MPS at | 1200-1300, i.e.
25 27x FY17E EPS of | 48.4,
25-27x
48 4 given healthy balance sheet metrics and high dividend payout
(~75%)

* Stock price adjusted for share split

13

13-Mar-15

24-Mar-15

Nano Nivesh
Company

C t lP
Control
Print
i t

Sagar Cement

Emmbi Industries

nitiation price CMP Fair Value

528

426

84

585

458

77

643

600

110

Return (%)

10 8
10.8

7.5

-8.3

Comment
Date of initiation
Control Print (CPL) is a leading coding and marking player domestically with manufacturing
capability in printing machines (printers), spare parts & associated consumables (ink). CPL has
recently commissioned a new manufacturing facility in Guwahati (capex | 25 crore). This
facility is initially being ramped up for manufacturing consumables, which is a high margin
28 D 15
28-Dec-15
business. CPL has a lean balance sheet and strong return ratios (FY15 RoE: 20%, RoCE: 27%).
Thus, with good demand drivers in place and increasing penetration of coders and markers, we
expect sales and PAT to grow at a CAGR of 21.5% and 28.9%, respectively, in FY15-18E. We
value CPL at | 625-660, i.e. 18-19x P/E on FY17E and FY18E average EPS of | 34.8/share.
Sagar Cements (SCL) has a capacity of 2.75 MT (3.75 MT including BMM).SCLs key markets
g of a turnaround led byy creation of Telangana
g
and ppolitical stabilityy in Andhra
are on the verge
Pradesh. Both governments of Andhra Pradesh & Telangana are planning to invest heavily in
infrastructure projects. SCLs cement plant is in close proximity to these infra projects, which
would make it a key beneficiary of cement demand emerging from the region. This coupled with
synergy benefits with recently accquired BMM cement is expected to boost company's
profitability. The EBITDA growth is expected to be driven by healthy realisation and lower freight
cost. We have assigned an EV/EBITDA multiple of 6.5x in FY18E, arriving at a target price of |
600/share
Emmbi Industries (Emmbi) is a technical textile unit manufacturing synthetic packaging, flexi
water tanks and agri products. In synthetic packaging, it manufactures polymer based flexible
intermediate bulk containers (FIBC) that are both generalised as well as embedded with
specific properties. With increasing demand for specialised, quality FIBCs and the
governments focus on water conservation, Emmbi is on a firm footing with robust prospects,
going forward. We expect sales, PAT to grow at a CAGR of 18.1%, 39.8%, respectively, in FY1518E. With major capex behind it and increasing share of high margin VAP along with improving
working capital cycle; we expect the debt gearing to decline with FY18E debt: equity at 1.0x
with return ratios at ~18%. We value Emmbi at | 105-115, i.e. 13x-14x P/E on FY17E and FY18E
average EPS of | 8.2 /share.

14

29-Dec-15

31-Dec-15

Equity Model Portfolio (rejigged on October 15, 2015) Large Cap

Earlier
Name of the company
Consumer Discretionary
United Spirits
Tata Motors DVR
Bajaj Auto
Titan
BFSI
HDFC
HDFC Bank
SBI
Axis Bank
Power, Infrastructure & Cement
L &T
UltraTech Cement
FMCG
ITC
Metals & Mining
Tata Steel
Oil and Gas
ONGC
Pharma
Lupin
Dr Reddy
IT
Infosys
TCS
Wipro
Telecom
Bharti Airtel
Media
Zee Entertainment
Total

Now
Weightage(%)
12
4
4
2
2
29
7
7
8
7
15
8
7
7
7
4
4
6
6
7
3
4
15
6
6
3
3
3
2
2
100

Name of the company

Auto
Tata Motor DVR
Bosch
Maruti
BFSI
HDFC Bank
Axis Bank
HDFC
SBI
Capital Goods
L &T
Cement
UltraTech Cement
FMCG/Consumer
ITC
United Spirits
Asian Paints
IT
Infosys
TCS
Meida
Zee Entertainment
Metal
Tata Steel
Oil & Gas
ONGC
Pharma
Lupin
Dr Reddys
Telecom
Bharti Airtel
Total

15

Weightage(%)
10
3
3
4
29
8
7
8
6
6
6
3
3
13
7
2
4
18
10
8
2
2
2
2
3
3
11
6
5
3
3
100

Equity Model Portfolio (rejigged on October 15, 2015) Midcap

Earlier
Name of the company
Consumer Discretionary
Bosch
Bata India
Arvind
Voltas
Castrol
BFSI
CARE
IndusInd Bank
FMCG
Kansai Nerolac
Pharma
Natco Pharma
Torrent Pharma
Media
PVR
Capital
p Goods
Cummins
Realty/Infrasturcture/Cement
Star Ferro & Cement
Container Corporation of India
Shree Cement
Total

N
Now
Weightage(%)
34
6
6
6
8
8
14
6
8
8
8
12
6
6
8
8
6
6
18
6
6
6
100

Name of the company

Auto
Eicher Motors
BFSI
Bajaj Finance
CARE
Capital Goods
Cummins
Cement
Shree Cement
Consumer
Symphony
Kansai Nerolac
FMCG
Nestle
Infrastructure
NBCC
Logistics
C t i C
Container
Corporation
ti off IIndia
di
Media
PVR
Oil & Gas
Castrol
Pharma
Natco Pharma
Torrent Pharma
Textile
Arvind
Total

16

Weightage(%)
8
8
14
8
6
6
6
6
6
12
6
6
8
8
6
6
6
6
8
8
6
6
14
8
6
6
6
100

Equity Model Portfolio (rejigged on October 15, 2015) Diversified (1/2)

E li
Earlier

Name of the company

Consumer Discretionary
United Spirits
Tata Motors DVR
Bajaj Auto
Titan
Bosch
Bata India
Arvind
V lt
Voltas
Castrol
BFSI
HDFC
HDFC Bank
SBI
Axis Bank
CARE
IndusInd Bank
Power, Infrastructure & Cement
L &T
UltraTech Cement
Star Ferro & Cement
Container Corporation of India
Shree Cement

N
Now

Weightage(%)
19
3
3
1
1
2
2
2
2
2
25
5
5
6
5
2
2
16
6
5
2
2
2

Name of the company

Consumer Discretionary
United Spirits
Tata Motors DVR
Symphony Ltd
Eicher Motors Ltd
Bosch
Maruti Suzuki India Ltd
Arvind
A i P
Asian
Paints
i t Ltd
Castrol
BFSI
HDFC
HDFC Bank
SBI
Axis Bank
CARE
Bajaj Finance Ltd
Power, Infrastructure & Cement
L&T
UltraTech Cement
NBCC
Container Corporation of India
Shree Cement

# IIndicative
di i di
diversified
ifi d portfolio
f li h
has 70%
weightage to large cap and 30% to midcap

17

Weightage(%)
18.9
3
3
2
2
1
2
2
1
2
23.8
5
5
6
5
2
2
16.5
6
5
2
2
2

Equity Model Portfolio (rejigged on October 15, 2015) Diversified (2/2)

E li
Earlier

Name of the company

FMCG
ITC
Kansai Nerolac
Metals & Mining

Now
Weightage(%)
7
5
2
3

Tata Steel

Oil and Gas

ONGC

Pharma

Lupin
Dr Reddy
Natco Pharma
Torrent Pharma
IT
Infosys
TCS
Wipro
Telecom
Bharti Airtel
Media
Zee Entertainment
PVR
Capital Goods
Cummins
Total

Name of the company

FMCG
ITC

Kansai Nerolac

Nestle
Metals & Mining
Tata Steel
Oil and Gas
ONGC
Pharma
Lupin
Dr. Reddy's Lab
Natco Pharma
Torrent Pharma
IT
Infosys
TCS
Telecom
Bharti Airtel
Media
Zee Entertainment
PVR
Capital Goods
Cummins
Total

2
3
2
2
10.5
4
4
2
2
2
4
1
2
2
2
100

# IIndicative
di i di
diversified
ifi d portfolio
f li h
has 70%
weightage to large cap and 30% to midcap

18

Weightage(%)
9.1

2
2.8
3
4.2
4
8.5
2
3
2
2
8.4
4
4
2.1
2
3.8
1
2
18
1.8
2
100

Equity Model Portfolio

Performance (return since inception)#
All three portfolios continue to outperform their respective benchmark indices, indicating that our
picks have been more consistent and stable vis--vis their respective indices on an average

150
123.1

125
100

75

99 8
99.8
86.5
59.0

51.8

55.4

50
25
0
Large Cap

Midcap
Portfolio

Benchmark

As on December 31, 2015

# includes the dividend yield

19

Diversified

SIP in Model Portfolio

Value as on December 31, 2015
8,500,000

6,491,922

7,617,352

5,500,000

9,796,507

5,500,000

6,521,4255

4,500,000

6,234,580

5 500 000
5,500,000

6,901,1663

6,500,000

5,500,000

7,500,000

3,500,000
Largecap
Investment

Midcap
Value of Investment in Portfolio

Divesified
Value if invested in Benchmark

SIPs in all three portfolios (large cap, midcap and diversified portfolio) continue to outperform
their SIPs in the respective index

Assuming | 1,00,000 invested as SIP at the end of every month

Start date of SIP is June 30, 2011

20

I-direct Top Picks Fundamental (Monthly)

Recommended on June 5, 2015
Whats in : Supreme Industries
Wh t outt : Booked
Whats
B k d profit
fit (16%) in
i Indrapastha
I d
th Gas
G Limited
Li it d (IGL)
Company
ITC
Pidilite Industries
Supreme Industries
Bharat Forge
Concor
Voltas
Timken India
Star Ferro Cement
Inox Leisure

Recommended Price
(|)
343
587
694
1,179
1,653
331
602
158
232

CMP
(|)
310
554
694
825
1418
289
524
128
249

Market Cap
(| crore)
248500
28402
8806
19203
24664
9570
3563
2863
2247

21

P/E (x)
FY16E
24.4
42.3
51.2
17.7
26.0
25.1
34.5
23.2
40.2

FY17E
21.2
37.0
21.1
15.2
19.5
21.1
26.4
11.3
24.5

P/BV (x)
FY16E
7.9
10.6
6.6
5.0
3.4
4.0
7.3
3.6
3.0

FY17E
7.6
9.3
5.5
4.2
3.0
3.7
6.1
2.8
2.7

RoE (%)
FY16E
32.5
27.6
12.9
24.2
13.0
15.8
22.3
15.5
7.4

FY17E
36.0
27.8
26.3
23.7
15.5
17.4
23.1
24.8
10.8

Muhurat Picks Recommended in October, 2015

Recommended on October 29, 2015

Name off the company

ITC
Bajaj Finance
Blue Dart
Kajaria
S
Syngene
Symphony
PNC Infratech

Market Cap
C ((| crore))

Reco price

Exit price / CMP

C

Return (%)
( )

S
Status

248500
33922
15740
7859
8200
8045
2693

355
5200
7650
895
360
2000
500

310
5900
6633
989
410
2350
525

-12.7
13.5
-13.3
10.5
13 9
13.9
17.5
5.0

Open
Book Profit
Open
Open
O
Open
Book Profit
Open

22

Yearly Strategy picks Fundamental

Recommended on December 24, 2015
Scrip Name
Ashoka Buildcon
Bajaj Finserv
Greaves Cotton
Jet Airways
Jagran Prakashan
Mahindra & Mahindra
Somany Ceramics
VA Tech Wabag

Reco Price
206
1936
141
625
159
1252
375
699

Exit price/CMP
196
2019
139
747
167
1198
382
675

23

Return (%)
-4.9
4.9
4.3
-1.2
19.5
5.0
-4.3
1.9
-3.4

Target
240
2308
180
790
193
1470
465
830

Status
Open
Open
Open
Open
Open
p
Open
Open
Open

Yearly Technical picks

Technical Recommendations 2016
Rec. Date
14-Dec-15
14-Dec-15
15-Dec-15
14-Dec-15
11-Dec-15
11-Dec-15
14-Dec-15
14 D 15
14-Dec-15
15-Dec-15

Stock Recommended
Triveni
TNPL
SJVN
Ramco Cement
EIHotel
Sonata Software
Tata Motors
I
Ipca
LLabs
b
ITC

Rec Price
36.00
233.00
28.40
358.00
120.00
169.00
366.00
745 00
745.00
316.00

Target
48
298
38
448
159
222
435
948
359

Stoploss
27
192
23
309
99
134
313
648
288

Recommendations: 9

Open: 5

Exit above cost: 0

St ik Rate:
Strike
R t 100%

Average return on positive calls: 22%

24

% Profit/Loss
42.0
17.0
16.0
13.0

Comment
Booked profit at 51.10
Booked 50% profit at 272.00
Booked 50% profit at 32.80
Booked 50% profit at 403.00
Open
Open
Open
O
Open
Open

Research Performance Medium Term Investing

25

Techno Funda picks

As on Date Performance

Recommendations: 64

Open:
p
4

Strike Rate: 83%

Average return on positive calls: 19.0%

Average return on negative calls: -7.0%

26

Gladiator Stocks
Performance till date

Recommendations : 63

Open: 3

Exit at cost : 0

Strike Rate: 72%

Average return on positive calls : 22.2%

A
Average
return on negative
i calls
ll : -7.5%
7 5%

27

Research Performance Short Term Trading

28

Stock on the Move

Year till date

Recommendations : 96

Open: 3

Exit at cost: 0

Strike Rate: 69%

Average return on positive calls : 12%

A
Average
return on negative
i calls
ll : -5.5%
5 5%

29

Monthly Technical Sectoral

December Performance

Recommendations : 3

Open : 0

Exit at Cost: 0

Strike rate: 100%

Average return on positive cash calls: 10%

Average return on negative calls : 0%

Performance (FY16)

Recommendations : 36

Open : 1

Exit at cost: 0

S ik rate: 83%
Strike

Average return on positive calls : 12.5%

Average return on negative calls : -5.5%

30

Monthly Call
December Performance

Recommendations : 3

No Trade: 0

Open: 0

Strike Rate: 33%

Average return on positive calls : 12%

Average return on negative calls : -4.5%

Performance (FY16)

Recommendations : 21

No Trade: 1

Open: 0

Strike Rate: 55%

Average return on positive calls : 8.0%

Average return on negative calls : -4.7%

31

Weekly Call
December Performance

Recommendations: 9

No Trade: 2

Exit at cost : 2

Open : 0

Strike Rate: 60%

Average return on positive calls : 5.0%

Average return on negative calls : -5.5%

Performance (FY16)

R
Recommendations
d ti
: 75

No Trade: 24

Exit at cost: 8

Open
p :0

Strike rate: 65%

Average return on positive calls : 6.0%

Average return on negative calls : -3.2%

32

Weekly Technical Calls

December Performance

Recommendations: 2

Open:
p
0

Exit at cost: 0

Strike Rate: 100%

Average return on positive cash calls : 8.0%

Average return on negative cash calls : 0%

Performance (FY16)

R
Recommendations
d i
: 32

Open: 0

Exit at cost: 1

Strike rate: 71%

Average return on positive cash calls : 11.0%

Average return on negative cash calls : -6.0%

33

Monthly Derivatives
December Performance

Recommendations: 3

Strike Rate: 100%

Average Return on calls: 9.2%

Average profit per call : |39667

Performance (FY 2015- 2016)

Recommendations: 37

Positive payoff : 27

Strike Rate: 73%

A
Average
R
Return
on calls:
ll 7%

Average profit per call: |15280

34

Quant Pick
December Performance

No. of Calls : 5

Positive Payoff: 1

Open : 4

Strike rate: 100%

Average return on calls : 8%

Performance (FY 2015 -2016)

Number of Calls recommended: 53

Positive payoff: 31

Exit in loss : 19

Open : 4

Strike rate: 61%

A
Average
return on Positive
P i i calls:
ll 10%

Average return on Negative calls: 6.5%

35

Volatility Insights
December Performance

No. of Calls : 1

Strike rate : 100%

Average return on calls : 10000

Performance (FY 2015- 2016)

Number of strategies recommended: 29

Positive payoff: 17

Exit in loss : 12

Strike rate: 60%

Average return per call: | 2746

36

Global Derivatives
December Performance

No. of Strategies: 4

Positive payoff : 4

Strike rate : 100%

Average net premium captured : | 3575

Performance (FY 2015 -2016)

Number of strategies recommended: 44

Positive payoff: 31

Strike rate: 74%

Average net premium captured : 45%

37

Alpha Trader
December Performance

No. of Strategies: 2

Profits booked : 1

Open : 1

Strike rate : 100%

Average profit per call : | 12000

Performance (FY 2015- 2016)

Number of strategies recommended: 27

Positive payoff: 22

Open : 1

Strike rate: 85%

Average return on calls : | 6590

38

Weekly Derivative Calls

December Performance

Number of strategies recommended: 4

Positive p
payoff:
y
1

Not initiated/ Exit : 3

Strike rate: 33%

Average returns on calls: | 4607

Performance (FY 2015-2016)

Number of strategies recommended: 50

Positive payoff: 24

Exit in loss/Stop loss Triggered: 15

Not Initiated : 10

S ik rate: 60%
Strike

Net profit: | 115000

Average profit on per call: | 2300

39

Yearly Derivatives
Performance 2016

Recommendations: 4

Open : 2

Strike Rate: 100%

Positive Payoffs : 2

Average Return on positive calls: 8.5%

Positional Nifty Strategies

Performance (FY 2015-2016)

Recommendations: 16

Strike Rate: 71%

Positive Payoffs : 15

Average points captured per call: 90

40

Currency Derivatives
December Performance

Recommendations: 28

Strike Rate: 75%

Performance (FY 2015-2016)

Recommendations: 481

Strike Rate: 76%

41

Research Performance Intra Day Trading

42

Trading Calls
December Performance

Strike rate of 65%

Trading
Total calls
Positive Payoff
Open
Strike rate

Derivatives/Margin Calls
320
206
4
65%

43

Disclaimer
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45

Thank You