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Net Inflows into equity funds fall due to higher redemptions

December 12, 2019|Dhwanik Shah|Research Digest

Inflows into Equity mutual funds saw a steep fall in November 2019 and stood at just Rs.1311 crores which is a new low in 3 and a half years.The gross inflows have been largely similar, the degrowth in net inflows have been due to higher redemptions in the month of November`19.Large Cap funds and Mid Cap funds have seen continuous traction from the retail buyers and saw inflows in November at R....

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November 28, 2019|Akash Bachhawat|Research Digest

The paradox- After 14years, in November 2017 Moody’s raise the grade India’s rating to Baa2 from Baa3. After the upgrade, the Market Participants who went Long on Indian markets were caught by the surprise.Within 2 months of the upgrade, the NIFTY small-cap Index peaked out at 9650 zones and fell 45.9%in the next two years to the level of 5220 zones. To be precise an upgrade was followed by mar....

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Contained fiscal deficit while addressing the liquidity crunch

July 08, 2019|Dhwanik Shah|Research Digest

The run up to the first budget under Modi Government 2.0 had a lot of expectations from the burdened economy, worrying farmers, pained middle class, cash struck PSB`s and liquidity hungry NBFC`s.The New Finance Minister has envisaged a vision for a $5 trillion Indian economy driven by investments by 2024. The finance minister reduced the fiscal deficit target to 3.3% in a move signalling govern....

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Rise in IIP and steady CPI signals improvement

June 26, 2019|Dhwanik Shah|Research Digest

The Industrial Output for the month of April saw a rebound after months of underperformance. IIP growth of 3.4% for the month of April is a 5 months high figure.The improvement in the electricity generation and mining activity at 6.0% and 5.1% has propelled the IIP to grow at 3.4%. Manufacturing growth also grew at 2.8% after 2 months of negative growth.As per the use based classification the c....

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Equity inflows rise as investors bet on small and mid-cap funds

June 12, 2019|Dhwanik Shah|Research Digest

Inflows towards the equity oriented mutual funds for the month of May 2019 saw a slight uptick and stood at Rs. 5407 crores. Net Inflows to the mid cap and small cap category stood at Rs.1272 crores and Rs.1415 crores respectively, These 2 categories account for around half of the net inflows that took place in the month of May.Large Cap funds along with sectoral/thematic funds did not find fa....

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IndiaVIX & Nifty rising: an opportunity for Contrarians

April 24, 2019|Prakash Modi|Research Digest

IndiaVIX is widely known as India’s Volatility Index. It is an indicator of the market mood in the short term. Volatility Index (VIX) is the popular measure of the stock market’s expectation of volatility implied by Options in the derivatives segment of NSE. It is also known as fear index. The value of the IndiaVIX denotes the degree of market fluctuations that active traders expect in the N....

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IIP&CPI: Macro data clears path for a rate cut in April

April 03, 2019|Dhwanik Shah|Research Digest

Index of Industrial Production for the month of January dropped to 1.7%, falling below our estimated growth rate.The drop in the industrial production is on account of a slowdown in the manufacturing and electricity activity. Manufacturing growth stood at 1.3% as compared to 8.69% a year ago, Electricity stood at 0.80% as compared to 7.63% in Jan 2018 whereas Mining growth grew from 0.26% to 3.....

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(Dis)Balanced Funds?

March 13, 2019|Dhwanik Shah|Research Digest

2019 witnessed outflows from balanced funds to the tune of 2029 crores in just 2 monthsBalanced funds have been rather unsuccessful in beating the benchmark returns over the last 1 year. These funds unlike other equity oriented funds have seen the most investments in the dividend option rather than in the growth option. Total inflows into balanced funds in FY18 had been Rs 89757 crores while FY....

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Expectations from Union Budget 2019

January 30, 2019|Shailendra Kumar|Research Digest

Forthcoming budget will be more of a vote on account though it surely would be loaded with policy intents to get the voter attention for the forthcoming general election. Otherwise too with GST, the budget now is not about changes in indirect tax rates that prefers one industry over others. Key questions from the market perspective are:What social policy measures would be announced and its impa....

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ETFs outshine large cap Mutual Funds in 2018

December 21, 2018|Dhwanik Shah|Research Digest

Key HighlightsThe Actively managed large cap funds have been not able to outperform the index returns in 2018.Whereas Exchange Traded Funds have performed better than the Whereas Exchange Traded Funds have performed better than the large cap funds and hence have been providing superior return to the investors.When compared the average returns given by ETF`s during the last 3 month, 6month, 1 ye....

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Improving macros – IIP at 11 month’s high

December 14, 2018|Dhwanik Shah|Research Digest

Index of Industrial Production grew at a solid 8.1% in the month of October vs. 4.5% in the previous month witnessing a 11 month high data on the backdrop of high growth in electricity generation and manufacturing activity which grew at 10.8% and 7.9% respectively. In the manufacturing segment the highest growth was in production of furniture(41%) for a fourth consecutive month followed by manu....

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Equity Mutual funds: The Market Saviour

November 29, 2018|Dhwanik Shah|Research Digest

The number of folios in equity scheme stood at 4.87 Cr in October 2018 against 3.73 Cr in October 2017, indicating a 30% increase.Despite bearish nature of the market in October 2018, the equity mutual funds have garnered positive inflows courtesy of the ever increasing SIP folio accounts which stand at 7.90 Cr in October. Mutual funds contribution through SIP route has more than doubled in the....

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Iran Sanctions – Make or Break for Crude Oil Prices

July 12, 2018|Sakina Mandsaurwala|Research Digest

Oil prices have remained steady at $74 due to supply disruption in Libya, Canada and impending sanction on Iran, all of which increases the likelihood of big shortfall in the oil market. Bullish oil factors are ruling over Bearish factors as investors are currently assuming that the oil supply increase from OPEC will not suffice the current oil demand and prevailing supply curtailment....

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Result Preview (4Q FY18E) - NBFC

April 19, 2018|Deepak Kumar|Research Digest

Growth accelerates but margin under pressure.The 4Q FY18e results season will kick in middle of the month for NBFCs. The spike in bond yield by more than 100 bps in last 6 months will result in margin pressure for most of the NBFCs in 4Q FY18 especially for (HFC) Housing Finance Companies. Further continued pressure on loan pricing due to competition from banks will add more pressure ....

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Reliance Nippon Life Asset Management Limited - SUBSCRIBE

October 25, 2017|Rubi Burman|Research Digest

The objective of issuing Rs 100 Cr for investing towards continuing interest in new mutual fund schemes managed by the Company and Rs 165 Cr Funding in inorganic growth and strategic initiatives.Pre IPO, Reliance Capital Limited holds 46.57% and Nippon Life Insurance Company holds 49.00% of RNAM`s total issued and paid up equity share capital of RNAM. And Post this issue, both the com....

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GODREJCP- How A 120 Year Old Company Is Aiming To Grow 10 Fold....

May 30, 2017|Debanjali Sengupta|Research Digest

GodrejCP - known for Good Knight, HIT, Cinthol, Ezee and many more, is a part of 120 year old Godrej Goup and has presence and dominance in India as well as in Emerging Countries, precisely in Indonesia, Africa, Latin America and Europe.For its major product categories, the company isLargest in India, Second largest in Indonesia for - Household InsecticideNumber One In india, Number O....

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VIJAYABANK - A Mid Cap PSU Bank With Lowest Stressed Assets An....

May 30, 2017|Debanjali Sengupta|Research Digest

Out of 24 listed Public sector Banks, Vijayabank is the 18th ranked Bank in terms of Asset size.  Considering the Asset quality, the Bank ranked 4th in terms of NNPA. The Bank has NNPA of 4.74% compared to IOB which had the highest NNPA at 14.3%. Also, interesting, though being small, it has the highest NIM of 2.85% in the last quarter compared to the least NIM reported by United....

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EICHERMOTOR- A Classic Growth Stock That Peter Lynch Would Lov....

May 30, 2017|Debanjali Sengupta|Research Digest

 Last 10 years at a glance:Motor cycles volumes - 17 times in 10 years (the sell of two-wheelers increased from 3600 to 6000 per month in recent times)Profits- 30 times in last 10 years – annual Profits rose from Rs. 60 to Rs. 1660 Cr. in FY2017Shareholders wealth- 100 times in 10 years- Rs 704 Cr Market Cap to current Rs 73500 Cr.But the history of the brand "Bullet" is not....

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Sensex Reclaims 30,000: What should Investors do now?

April 26, 2017|Debanjali Sengupta|Research Digest

26 April 2017 - another date to be marked in the history of the stock market, as the BSE Sensex reclaims 30,000 mark, while Nifty50 hits a lifetime high of 9360.This significant rally in Sensex in the year 2017 has happened because while India’s share of global GDP at 2.99%, its global market cap was just 2.26% at the beginning of 2017. This 0.73% gap is a wide one indeed and has been the ....

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avatar-dummy.jpgAkash BachhawatResearch Analyst
avatar-dummy.jpgDhwanik ShahResearch
Romit_Barat_Romit_Barat.jpgRomit BaratVice President & Sales Head - PMS
Debanjali_Sengupta_debanjali.JPGDebanjali SenguptaContent Writer
Kamal_Kasera_Kamal_Kasera.pngKamal KaseraFixed Income and Currency Researcher
Shailendra_Kumar_Shailendra_Kumar.pngShailendra KumarCo-Founder & CIO
Naveen_Kumar_Dubey_Naveen.jpgNaveen Kumar DubeyFundamental research analyst
Anurag_Arora_Anurag.jpgAnurag AroraFundamental research analyst
Rubi_Burman_Rubi.jpgRubi BurmanNews and IPO Analyst
Krishna_Narnolia_2c2593de-0dc8-4a2a-947b-7bb05917f5da.jpgKrishna NarnoliaCMD & founder of Narnolia Group
Deepak_Kumar_Deepak.jpgDeepak KumarFundamental research analyst
Prakash_Modi_Prakash_Sir.jpegPrakash ModiAVP- Advisory
Vineeta_Sharma_Vineeta_mam.jpgVineeta SharmaHead of Equity Research
Atul_Mishra_Atul.jpgAtul MishraAdvanced Market Researcher
Pratik_Poddar_Pratik.jpgPratik PoddarFundamental Research Analyst
Sandip_Jabuani_Sandip.jpgSandip JabuaniFundamental research analyst
Sakina_Mandsaurwala_Sakina.jpgSakina MandsaurwalaAdvance Market Researcher
avatar-dummy.jpgKK MishraResearcher


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