MOSt Market Roundup
4th August 2017
EQUITY Market
Cash Volumes (INR in Crores)
Exchange
BBSE (Cash)
BSE (Derivatives)
NSE (Cash)
NSE(Derivatives)
Total
Today
3836
2.00
27522
447879
479239
Pev. Day
3950
0.31
27701
1107686
1139338
Sensex
32325.41
87.53
Nifty
10066.40
52.75
Dealer's Diary
Market bounced back in last hour buying lead by Refinery and Banking
stocks. Nifty climbed up over half percent to close at 10066 and Sensex
gained 88 points to close at 32325. Nifty recovered nearly 1% between
the day's low of 9988 and day's high of 10075. Good quarterly results,
successful GST implementation and strong FIIs and DIIs buying interest
boosted the market sentiment. Moreover, there was short covering in
later part of the day. USDINR recovered after touching a 2-year low.
Among the global markets, Asian markets ended on a mixed note while
European markets bounced back into positive territory. Metal, Auto
and Tech stocks gained while Pharma stocks declined.
Titan surged 10% to close all time high of Rs611. Company reported
better than expected Q1 result. Dabur India gained 1% to close at Rs307
as the company announced good set of Q1 result. Ceat Tyre nosedived
9% to close at Rs1740. Company reported disappointed Q1 result.
PSU refinery stocks recorded sharp rally on account of impressive
quarterly results reported by IOC and HPCL. Moreover, oil marketing
companies benefited from lower oil price and fall in USDINR. HPCL
surged 10% to close at Rs433. Both, IOC and BPCL gained 8% and 6%
respectively.
Advance / Decline
Group
Advance
Decline
Unchanged
NIFTY 50
37
14
0
BSE 201
126
74
1
Top Index Gainers
Scrip
IOC
BPCL
TATASTEEL
EICHERMOT
COALINDIA
LTP
418.00
518.75
580.80
31700.00
249.20
% Change
8.00
5.87
3.84
3.17
3.08
Technical Outlook
Nifty cash index closed the day at 10066 points gaining a close to 52
points over the close of the previous day. After two days of a corrective
decline the market seems to be reversing from the support at 9990-
9980. The index made a bullish piercing pattern which is a sign that the
bulls are back in the business after a lull of two days. If Nifty holds
above 10080 expect the rally to continue to 10150 and above that to
10250. The support level for Nifty is at 9980 points. Nifty trades below
9980 we could see some decline to 9950 points.
Nifty Futures
10111.05
Most Active Nifty Calls
Index
Option
10,100
10,200
10,300
10,000
Price
INR
110.5
63.8
33.0
174.5
No. of Contract
Vol
OI
180197
172179
111690
81208
48363
43858
46924
37375
Top Index Losers
Scrip
DRREDDY
TATAPOWER
AUROPHARMA
SUNPHARMA
BOSCHLTD
LTP
2,238.00
80.20
724.70
507.50
24,458.05
% Change
-3.70
-2.96
-2.24
-1.62
-1.58
DERIVATIVE MARKET
Derivative Volumes (INR in Crores)
Exchange
Index Futures
Stock Futures
Index Options
Stock Options
F&O Total
No. of
Contracts
189117
712972
3822933
465342
5190364
Turn
Over
16203
52961
343469
35246
447879
68.05
Premium
44.65
Most Active Nifty Puts
Index
Option
10,000
9,900
9,800
10,100
Price
INR
66.0
43.0
28.3
100.5
No. of Contract
Vol
OI
196901
127822
87661
70192
71806
54727
56376
30832
Most Active Stock Future
Stock
Futures
HINDPETRO
TITAN
RELIANCE
IOC
Price
INR
436.5
610.8
1626.5
418.0
No. of Contract
Vol
OI
23326
19034
18404
16989
16410
4043
26741
15222
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
1
 Motilal Oswal Financial Services
MOSt Market Roundup
4th August 2017
EQUITY Market
Global Indices
Indices
Dow Fut
Nasdaq Fut
FTSE
Hang Seng
Closing Price
22003
5897
7476.5
27562.68
Change(%)
0.13
0.12
0.02
0.12
News:
3
3
Currency
V/S INR
Dollar
Euro
Pound
Yen
Closing Price
63.68
75.67
83.79
0.58
Change(%)
0.01
-0.33
0.02
-0.59
3
3
3
3
Commodity
Indices
Brent Crude
Gold
Silver
Closing Price
51.63
1269.55
16.73
Change(%)
-0.73
0.07
0.41
3
3
3
Note - *Data as of today, 5P.M.
M&M Q1 net profit Rs7.66bn (down 14.5% YoY), other income
Rs2bn - expectation Rs2.1bn and sales Rs123.4bn (up 17.3%
YoY)
Dabur India Q1 net profit Rs2.65bn (down 10% YoY), one-time
cost Rs145.4mn, other income Rs812.8mn and sales Rs17.9bn
(down 7% YoY)
Deep Industries Q1 net profit Rs210.4mn (up 28% YoY) and
Income Rs730mn (up 13.5% YoY)
Punj Lloyd financial closure achieved for gas pipeline projects
Graphite India Q1 net profit Rs294.5mn (up 168% YoY) and
sales Rs3.76bn (up 27.5% YoY)
HPCL Q1 net profit Rs9.25bn (down 56% YoY), GRM $5.96/bbl,
other income Rs5.7bn vs Rs2.7bn and sales Rs599bn (up 34%
YoY)
VRL Logistic Q1 net profit Rs337.4mn (up 27% YoY) and in-
come Rs4.92bn (up 7% YoY)\
Divis Lab says HPRA Ireland, Jazmp Slovenia inpected VIZAG
unit
Sobha approves buy back up to 1.46mn (1.5% equity) shares
at Rs425 a share
Change in Nonfarm payroll - Bloomberg expectation 180k (Prior
222k)
Company Meetings on 7th Aug 17
Board Meetings -
Amara Raja Batteries, Brit-
annia Industries, Caplin Point, Dr Lal Path Lab,
Eveready Industries, Jindal Stainless, Lakshmi
Machine, Natco Pharma, Nilkamal Ltd, Polaris
Consulting, Tata Steel, Welspun India and
Whirlpool of India
AGM -
Amara Raja Batteries, Britannia Indus-
tries, and Eveready Industries
Results -
Amara Raja Batteries, Britannia In-
dustries, Caplin Point, Dr Lal Path Lab,
Eveready Industries, Jindal Stainless, Lakshmi
Machine, Natco Pharma, Nilkamal Ltd, Polaris
Consulting, Tata Steel, Welspun India and
Whirlpool of India
US Data:
3
Commodity:
3
Oil is back down again this week following the year's biggest
rally as investor focus shifted to rising output from the U.S.
and OPEC, and away from a seasonal increase in American
fuel demand.
Asian stocks were mixed as investors weighed the latest cor-
porate earnings against the latest development in the ongo-
ing investigation of U.S. President Donald Trump's ties to Rus-
sia, with jobs data from the world's largest economy due later
Friday.
European and Asian stocks drifted and bonds were mixed as
investors pondered the latest drama in Washington while they
wait for new clues on the U.S. economy. FTSE, DAX and CAC
bounced back into positive territory.
Global Market:
3
Corporate Action on 7th Aug17
Dividends -
Bayer Corp, Godrej Consumers,
Indo Count and NCC
3
Events on 7th Aug 17
NA
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
2
 Motilal Oswal Financial Services
MOSt Market Roundup
4th August 2017
Technical Commentary
Nifty index continued its profit booking for second consecutive session and corrected towards 10000 mark. It formed
a Bearish Belt hold candle followed by a Bearish Engulfing pattern on the daily chart. It has broken its rising support
trend line by connecting the recent swing lows of 9543, 9646, 9838 and 9944. Now if It sustains below 10050 then profit
booking could continue towards 9950-9928 zones while on the upside hurdles are placed at 10080 then 10120 levels.
Follow up - Open Recommendations
Date
TRADING CALL
4-Aug
4-Aug
4-Aug
4-Aug
4-Aug
2-Aug
2-Aug
Scrip
GAILFUT
BAJFINANCEFUT
L&TFH
TVSMOTOR
HINDUNILVR
NIFTY9950PE
NIFTY10100PE
Reco
BUY
BUY
BUY
BUY
BUY
SELL
BUY
Price
380.10
1734
173.92
601.35
1184.63
63.75
107.25
Lot*
790
174
1725
499
254
75
75
Close
380
1740.35
174
599.3
1192.1
53.25
100.25
Target
392.4
1758.4
178.95
627.9
1217.8
-
-
Stop Loss
373.8
1718.8
171
588
1168
-
-
MTM +/-
-79
1105
138
-1023
1897
788
-525
* Lot Size (Only Cash & Future) is calculated based on 3,00,000 Corpus.
# Please Watch for Followup Alerts provided on the Trading Screen / Call your MOSL Advisor
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
3
 Motilal Oswal Financial Services
MOSt Market Roundup
4th August 2017
Pivot Table
Co. Name
NIFTY
SENSEX
ACC
ACEM
APNT
AXSB
BJAUT
BOB
BHEL
BPCL
BHARTI
CIPLA
COAL
DLFU
DRRD
GAIL
GRASIM
HCLT
HDFCB
HMCL
HNDL
HUVR
HDFC
ICICIBC
IDFC
IIB
INFO
ITC
JPA
JSP
KMB
LT
LPC
MM
MSIL
NMDC
NTPC
ONGC
PWGR
PNB
RIL
SBIN
SUNP
TCS
TTMT
TPWR
TATA
UTCEM
VEDL
WPRO
Close
10,066
32,325
1,818
277
1,159
508
2,874
159
137
519
421
568
249
190
2,238
381
1,125
889
1,788
3,944
225
1,193
1,731
297
58
1,667
984
281
25
138
996
1,177
990
1,419
7,775
125
177
166
224
151
1,627
306
508
2,525
436
80
581
4,079
288
290
Low
9,988
32,108
1,794
269
1,141
505
2,811
155
136
491
412
543
238
188
2,230
370
1,106
873
1,766
3,816
218
1,162
1,721
294
56
1,635
976
280
24
135
989
1,170
963
1,395
7,740
120
170
164
222
148
1,615
298
493
2,488
433
80
559
4,063
278
289
S2
9,956
32,018
1,773
266
1,134
502
2,773
153
134
477
407
532
234
186
2,176
364
1,097
864
1,753
3,761
216
1,149
1,713
292
56
1,622
970
277
24
130
984
1,164
949
1,384
7,708
118
166
162
220
146
1,587
295
484
2,473
431
78
552
4,031
274
286
S1
10,011
32,172
1,796
271
1,146
505
2,823
156
136
498
414
550
242
188
2,207
372
1,111
876
1,771
3,852
221
1,171
1,722
295
57
1,645
977
279
24
134
990
1,170
969
1,401
7,742
122
172
164
222
149
1,607
300
496
2,499
433
79
566
4,055
281
288
PP
10,043
32,262
1,816
275
1,153
508
2,862
158
137
512
419
561
246
189
2,261
378
1,120
885
1,784
3,908
223
1,184
1,730
296
57
1,658
983
282
25
140
995
1,176
984
1,413
7,773
124
175
166
224
151
1,635
303
505
2,514
436
81
574
4,087
285
291
R1
10,098
32,416
1,839
280
1,166
511
2,912
162
139
533
426
579
253
191
2,292
386
1,135
898
1,801
4,000
228
1,206
1,740
298
58
1,680
990
284
26
144
1,001
1,183
1,004
1,431
7,807
127
180
168
226
153
1,655
309
517
2,540
439
82
588
4,111
293
292
R2
10,130
32,506
1,860
284
1,173
514
2,950
164
141
546
430
590
258
193
2,346
392
1,144
907
1,814
4,056
231
1,218
1,748
300
59
1,693
996
286
27
149
1,006
1,188
1,018
1,442
7,838
129
184
169
227
155
1,683
312
526
2,554
441
84
595
4,144
297
295
High
10,075
32,352
1,837
278
1,160
511
2,900
161
139
526
423
572
250
191
2,315
384
1,130
895
1,797
3,964
226
1,196
1,739
298
58
1,671
989
284
26
145
1,000
1,182
998
1,424
7,805
126
178
167
225
152
1,663
306
514
2,528
439
83
581
4,120
290
293
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
4
 Motilal Oswal Financial Services
MOSt Market Roundup
4th August 2017
MOSt Velocity / High Conviction
MOSt Velocity
Account Summary
Cash Market
Model Corpus Value
Total Return till date
Booked Profit
Unrealised Profit
Historical Performance
INR
1000000
1018430
1025342
-6912
101.8%
102.5%
-0.7%
Return %
Period
Inception
36 Months
24 Months
12 Months
6 Months
3 Months
Benchmark Return % Portfolio
BSE200
NIFTY
Return %
109.7%
99.0%
101.8%
38.7%
29.9%
52.6%
20.8%
17.5%
16.9%
20.0%
17.7%
7.7%
15.6%
15.2%
5.6%
7.6%
8.4%
3.5%
Relative Out Performance %
With Bse 200 With Nifty
-7.9%
2.9%
13.9%
22.7%
-4.0%
-0.6%
-12.4%
-10.1%
-10.0%
-9.6%
-4.1%
-4.9%
MOSt Velocity - Open Position
Stock Name
TATAMOTORS
BHARATFORG
RBLBANK
DHFL
FEDERALBNK
ULTRACEMCO
Cash
Total
Sector Name
AUTO
AUTO
FINANCIAL
FINANCIAL
FINANCIAL
CEMENT
Cash
Reco Date
11-Apr-17
9-May-17
21-Jun-17
17-Jul-17
20-Jul-17
01-Aug-17
Wtg%
10.0%
10.0%
10.0%
5.0%
10.0%
10.0%
45.0%
100.0%
CMP
436
1155
515
457
114
1081
High Conviction
Account Summary
Cash Market
Model Corpus Value
Total Return till date
Booked Profit
Unrealised Profit
INR
300000
80526
80526
0
Return %
26.8%
26.8%
0.0%
High Conviction Trading Idea Performance
Remark
Oct'16
Nov'16 Dec'16
5
60%
-2906
4
25%
-11721
Jan'17
6
67%
14962
Feb'17
4
75%
6327
Mar'17
4
100%
23855
Apr'17
5
80%
20182
May'17
6
50%
674
Jun'17
2
0%
-17365
Jul'17
5
60%
4751
No. of Calls 4
Strike Rate 50%
P&L
9328
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
5
 Motilal Oswal Financial Services
MOSt Market Roundup
4th August 2017
MOSt Multi Cap
MOSt Multi Cap- Performance
Returns
MOSt Multicap
Sensex
BSE 200
* Inception date: 31st Jan 2016
3mth
3.5%
8.7%
7.3%
6mth
13.9%
17.6%
18.4%
1yr
30.6%
15.9%
18.7%
Since inception*
56.6%
30.7%
37.3%
Data as on 31st July 2017
MOSt Multi Cap- Open Positions
Stock Name
Hero Motocorp
Zee Entertainment Enterprises Ltd
HDFC Bank
Piramal Enterprises Limited
Yes Bank Ltd
CG Consumer Electricals ltd
Can Fin Homes Ltd
Sterling Tools Ltd
P I Industries Ltd
SRF Ltd
Shriram City Union Finance Ltd
Capital First
Ramco Cements Ltd
Granules India Limited
Cash
Total
Sector Name
Automobiles
Media
Banking
Diversified
Banking
Capital Goods
Financial
Automobiles
Agriculture
Textiles
Financial
Oil & Gas
Cement
Pharmaceuticals
CMP
3957
542
1790
2940
1808
216
2979
239
736
1516
2180
778
689
457
132
Allocation (%)
10
10
10
5
5
5
5
5
5
5
5
5
5
5
5
10
100
Dewan Housing Finance Corporation Ltd Financial
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
6
 Motilal Oswal Financial Services
MOSt Market Roundup
4th August 2017
Upcoming Economic Events Calendar
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
7
 Motilal Oswal Financial Services
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requirements within such jurisdictions.
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
For Hong Kong:
This report is distributed in Hong Kong by Motilal Oswal capital Markets (Hong Kong) Private Limited, a licensed corporation (CE AYY-301) licensed and
regulated by the Hong Kong Securities and Futures Commission (SFC) pursuant to the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong) "SFO". As per SEBI (Research Analyst Regulations) 2014 Motilal Oswal Securities (SEBI Reg No. INH000000412) has an agreement with Motilal Oswal
capital Markets (Hong Kong) Private Limited for distribution of research report in Hong Kong. This report is intended for distribution only to "Professional
Investors" as defined in Part I of Schedule 1 to SFO. Any investment or investment activity to which this document relates is only available to professional
investor and will be engaged only with professional investors." Nothing here is an offer or solicitation of these securities, products and services in any
jurisdiction where their offer or sale is not qualified or exempt from registration. The Indian Analyst(s) who compile this report is/are not located in Hong Kong
& are not conducting Research Analysis in Hong Kong.
For U.S.
Motilal Oswal Securities Limited (MOSL) is not a registered broker - dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and
under applicable state laws in the United States. In addition MOSL is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as
amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of
specific exemption under the Acts, any brokerage and investment services provided by MOSL, including the products and services described herein are not
available to or intended for U.S. persons. This report is intended for distribution only to "Major Institutional Investors" as defined by Rule 15a-6(b)(4) of the
Exchange Act and interpretations thereof by SEC (henceforth referred to as "major institutional investors"). This document must not be acted on or relied on
by persons who are not major institutional investors. Any investment or investment activity to which this document relates is only available to major
institutional investors and will be engaged in only with major institutional investors. In reliance on the exemption from registration provided by Rule 15a-6 of
the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act") and interpretations thereof by the U.S. Securities and Exchange Commission
("SEC") in order to conduct business with Institutional Investors based in the U.S., MOSL has entered into a chaperoning agreement with a U.S. registered
broker-dealer, Motilal Oswal Securities International Private Limited. ("MOSIPL"). Any business interaction pursuant to this report will have to be executed
within the provisions of this chaperoning agreement.
The Research Analysts contributing to the report may not be registered /qualified as research analyst with FINRA. Such research analyst may not be associated
persons of the U.S. registered broker-dealer, MOSIPL, and therefore, may not be subject to NASD rule 2711 and NYSE Rule 472 restrictions on communication
with a subject company, public appearances and trading securities held by a research analyst account.
For Singapore
Motilal Oswal Capital Markets Singapore Pte Limited is acting as an exempt financial advisor under section 23(1)(f) of the Financial Advisers Act(FAA) read with
regulation 17(1)(d) of the Financial Advisors Regulations and is a subsidiary of Motilal Oswal Securities Limited in India. This research is distributed in Singapore
by Motilal Oswal Capital Markets Singapore Pte Limited and it is only directed in Singapore to accredited investors, as defined in the Financial Advisers
Regulations and the Securities and Futures Act (Chapter 289), as amended from time to time. In respect of any matter arising from or in connection with the
research you could contact the following representatives of Motilal Oswal Capital Markets Singapore Pte Limited:
Disclaimer:
The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted
to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent. This report and
information herein is solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or
subscribe for securities or other financial instruments. Nothing in this report constitutes investment, legal, accounting and tax advice or a representation that
any investment or strategy is suitable or appropriate to your specific circumstances. The securities discussed and opinions expressed in this report may not be
suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific
recipient. This may not be taken in substitution for the exercise of independent judgment by any recipient. Each recipient of this document should make such
investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document
(including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed
or views expressed may not be suitable for all investors. Certain transactions -including those involving futures, options, another derivative products as well
as non-investment grade securities - involve substantial risk and are not suitable for all investors. No representation or warranty, express or implied, is made
as to the accuracy, completeness or fairness of the information and opinions contained in this document. The Disclosures of Interest Statement incorporated
in this document is provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. This
information is subject to change without any prior notice. The Company reserves the right to make modifications and alternations to this statement as may
be required from time to time without any prior approval. MOSL, its associates, their directors and the employees may from time to time, effect or have
effected an own account transaction in, or deal as principal or agent in or for the securities mentioned in this document. They may perform or seek to perform
investment banking or other services for, or solicit investment banking or other business from, any company referred to in this report. Each of these entities
functions as a separate, distinct and independent of each other. The recipient should take this into account before interpreting the document. This report has
been prepared on the basis of information that is already available in publicly accessible media or developed through analysis of MOSL. The views expressed
are those of the analyst, and the Company may or may not subscribe to all the views expressed therein. This document is being supplied to you solely for your
information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, copied, in whole or in part, for
any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality,
state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject MOSL
to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to
certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.
Neither the Firm, not its directors, employees, agents or representatives shall be liable for any damages whether direct or indirect, incidental, special or
consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. The person accessing this
information specifically agrees to exempt MOSL or any of its affiliates or employees from, any and all responsibility/liability arising from such misuse and agrees
not to hold MOSL or any of its affiliates or employees responsible for any such misuse and further agrees to hold MOSL or any of its affiliates or employees
free and harmless from all losses, costs, damages, expenses that may be suffered by the person accessing this information due to any errors and delays.
Registered Office Address: Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai-400025; Tel No.: 022-3980 4263;
www.motilaloswal.com. Correspondence Address: Palm Spring Centre, 2nd Floor, Palm Court Complex, New Link Road, Malad (West), Mumbai- 400 064. Tel
No: 022 3080 1000. Compliance Officer: Neeraj Agarwal, Email Id:
na@motilaloswal.com,
Contact No.:022-30801085.
Registration details of group entities.: MOSL: NSE (Cash): INB231041238; NSE (F&O): INF231041238; NSE (CD): INE231041238; BSE (Cash): INB011041257;
BSE(F&O): INF011041257; BSE(CD); MSE(Cash): INB261041231; MSE(F&O): INF261041231; MSE(CD): INE261041231; CDSL: IN-DP-16-2015; NSDL: IN-
DP-NSDL-152-2000; Research Analyst: INH000000412. AMFI: ARN 17397. Investment Adviser: INA000007100. Motilal Oswal Asset Management Company
Ltd. (MOAMC): PMS (Registration No.: INP000000670) offers PMS and Mutual Funds products. Motilal Oswal Wealth Management Ltd. (MOWML): PMS
(Registration No.: INP000004409) offers wealth management solutions. *Motilal Oswal Securities Ltd. is a distributor of Mutual Funds, PMS, Fixed Deposit,
Bond, NCDs, Insurance and IPO products. * Motilal Oswal Commodities Broker Pvt. Ltd. offers Commodities Products. * Motilal Oswal Real Estate Investment
Advisors II Pvt. Ltd. offers Real Estate products. * Motilal Oswal Private Equity Investment Advisors Pvt. Ltd. offers Private Equity products
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025