MOSt Market Roundup
31st August 2018
EQUITY Market
Cash Volumes (INR in Crores)
Exchange
BSE (Cash)
NSE (Cash)
NSE(Derivatives)
Today
-
42,825
5,55,158
Pev. Day
3,453
41,144
19,31,285
Sensex
38645.07
45.03
Nifty
11680.50
3.70
Dealer's Diary
Market managed to end in the positive territory on a highly volatile
session. Nifty gained marginally by 4 points to close at 11680 recovered
from the day's low of 11640. IT and Pharma stocks were major gainers
which help Nifty to recover from the lows. PSU Banks have participated
in the later part of the day. USDINR surged to all time high of nearly 71,
weak global cues and higher oil price is a major concern in the market.
Both Asian and European markets declined after the news that the US
President Donald Trump wants to move ahead with a plan to impose
tariffs on $200 billion in Chinese imports. Metal and Private Banks
witnessed profit booking. Pharma and IT stocks surged as benefit of
higher USDINR. USDINR gained over 3% during the month of August.
Lupin gained 4% to close at Rs931. Aurobindo Pharma, Dr Reddy, Cipla
and Cadila gained between 2-4%. Tech stocks like MindTree surged 6%
to close at Rs1115. Mindtree and global professional services company
GHD have established a partnership on a digital platform for property
and infrastructure industries. NIIT Tech, KPIT, Tech Mahindra, Infosys
and HCL Tech gained between 2-5%. Metal stocks like Tata Steel, JSW
Steel, Jindal Steel, Vedanta and Hindalco declined from the intra-day
high on account of profit booking.
Advance / Decline
Group
Advance
Decline
Unchanged
NIFTY 50
30
20
0
BSE 200
110
89
2
Top Nifty - 50 Index Gainers
Scrip
DRREDDY
TECHM
LUPIN
TATAMOTORS
HCLTECH
LTP
2,492
766
932
267
1,044
% Change
4.7
4.7
4.2
2.9
2.7
Top Nifty - 50 Index Losers
Scrip
YESBANK
RELIANCE
BAJAJFINSV
BAJFINANCE
M&M
LTP
343
1,239
6,753
2,856
965
% Change
-5.2
-2.8
-2.6
-2.4
-1.8
Technical Outlook
Nifty index formed a high wave Doji candle as it closed flattish after
moving in a wider range of 11640 to 11727 levels. It witnessed selling
pressure from higher levels but on decline it managed to respect
previous day's low to recover towards 11680 zones. It has been moving
in a rising channel and respecting to its support trend line by connecting
all the recent swing lows of 10557, 10630, 10946 and 11340 levels. Now
it has to decisively hold above 11666 zones to extend its move towards
11777 zones while a drift below 11620 could change its short term price
behaviour.
Nifty Futures
11732.00 1.15
Premium 51.50
Nifty future closed flattish at 11732. On option front, maximum Put OI
is at 11600 followed by 11500 strike while maximum Call OI is at 11800
then 12000 strike. Call writing is seen at 11800 followed by 12000 strike
whereas Put writing is seen at 11600 followed by 11500 strike. India
VIX move up by 1.53% at 12.60 level however overall lower volatility
suggests that bulls are likely to hold the grip on the market. Built up of
Long position were seen in Niittech, Mindtree, KPIT, Torrent Pharma,
Ajanta Pharma and Lupin whereas Shorts were seen in Yes Bank, Page
Industries, Berger Paints, Ceat and Marico.
DERIVATIVE MARKET
Derivative Volumes (INR in Crores)
Exchange
Index Futures
Stock Futures
Index Options
Stock Options
F&O Total
No. of
Contracts
2,03,462
9,23,733
39,91,373
6,52,982
57,71,550
Turn
Over
19,731
67,988
4,16,291
51,148
5,55,158
Most Active Nifty Calls
Index
Option
11,800
12,000
11,700
11,900
Price
INR
101.5
34.5
155.5
61.6
No. of Contract
Vol
OI
1,22,907
96,941
95,115
94,949
37,058
35,285
27,403
23,487
Most Active Nifty Puts
Index
Option
11,600
11,700
11,500
-
Price
INR
No. of Contract
Vol
OI
43,624
37,952
42,731
-
92.0 1,14,910
128.1 1,08,213
67.1 1,08,137
-
-
1
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
MOSt Market Roundup
EQUITY Market
Global Indices
Indices
Dow Fut
Nasdaq Fut
FTSE Fut
Nikkei fut
Closing Price
25,949
7,637
7,470
22,780
Change(%)
-0.23
-0.16
-0.50
-0.35
News:
Dewan Housing proposes to issue secured redeemable NCDs
Sadbhav Engineering wins Maharashtra road contract of Rs16.2bn
Reliance Infra wins EPC Contract for Mumbay-Nagpur express-
way worth Rs19.1bn
JSW Steel Loans, Bonds Raised to AA at ICRA on Performance Gain
- Upgrades the ratings on JSW Steel's INR356.03b loans, proposed
loans and limits as well as INR57.04b issued and proposed non-
convertible debentures to AA from AA-,
Gujarat Narmada INR15b Bank Facilities Raised to AA+ at ICRA -
Upgrades the rating on Gujarat Narmada Valley Fertilizers & Chemi-
cals' INR15b fund-based facilities to AA+ from AA
JB Chemical approves buying back 3.99% equity at Rs390 a share,
buy-back up to Rs1.30bn
Lupin gsets US FDA approval for generic Potassium Oral Solution
KEC International bags orders worth Rs10.10bn.
SAIL Is Said to Decline India's Call for 2018 Dividend: - State-
owned Steel Authority of India declined India govt as it didn't
have "any cash and bank balance and would need to borrow from
the market for payment of dividend," Reuters reports, citing in-
ternal co. document sent to govt that it reviewed.
V/S INR
Dollar
Euro
Pound
Yen
Closing Price
70.96
82.76
92.22
0.64
Change(%)
-0.32
-0.05
-0.18
-1.00
Commodity
Indices
Brent Crude
Gold
Silver
Closing Price
77.07
1206.05
14.65
Change(%)
-0.90
0.51
0.68
Corporate Action on 1st Sep 18
Dividends -
Force Motor and Swan Energy
Global markets:
Company Meetings on 1st Sep 18
EGM -
IDFC Bank
Asian shares mostly fell Friday following a report that the Trump
administration could put tariffs on $200 billion in Chinese goods
as early as next week.
European stocks fell and U.S. equity futures pointed to a mod-
estly weaker start following a downbeat session in Asia on Friday
after President Donald Trump stepped up his tough talk on trade.
Commodity :
Oil headed for a monthly gain as expectations that American sanc-
tions on Iranian crude will tighten global markets outweighed
the risk to demand from the ongoing U.S.-China trade dispute.
US Data :
Chicago Purchasing Manager - Survey 63 (Prior 65.5)
2
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
MOSt Market Roundup
Technical Commentary
Nifty index formed a high wave Doji candle as it closed flattish after moving in a wider range of 11640 to 11727 levels.
It witnessed selling pressure from higher levels but on decline it managed to respect previous day's low to recover
towards 11680 zones. It has been moving in a rising channel and respecting to its support trend line by connecting all
the recent swing lows of 10557, 10630, 10946 and 11340 levels. Now it has to decisively hold above 11666 zones to
extend its move towards 11777 zones while a drift below 11620 could change its short term price behaviour.
3
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
MOSt Market Roundup
Pivot Table
Co. Name
NIFTY
SENSEX
DRREDDY
TECHM
LUPIN
TATAMOTORS
HCLTECH
UPL
POWERGRID
BAJAJ-AUTO
SUNPHARMA
CIPLA
INDUSINDBK
LT
INFY
TITAN
BPCL
ONGC
EICHERMOT
HEROMOTOCO
NTPC
IOC
ULTRACEMCO
KOTAKBANK
SBIN
WIPRO
INFRATEL
HDFC
HINDPETRO
GRASIM
HINDUNILVR
BHARTIARTL
COALINDIA
AXISBANK
ITC
IBULHSGFIN
TCS
ADANIPORTS
HDFCBANK
ASIANPAINT
VEDL
ICICIBANK
HINDALCO
MARUTI
TATASTEEL
GAIL
ZEEL
M&M
BAJFINANCE
BAJAJFINSV
RELIANCE
YESBANK
Close
11,681
38,645
2,492
766
932
267
1,044
713
201
2,754
652
661
1,909
1,370
1,440
893
362
180
27,936
3,259
171
156
4,463
1,287
310
301
286
1,941
254
1,071
1,776
383
286
649
320
1,260
2,078
383
2,060
1,372
228
342
238
9,099
600
371
500
965
2,856
6,753
1,239
343
Low
11,640
38,562
2,395
731
896
258
1,020
689
195
2,706
643
650
1,862
1,349
1,421
877
356
178
27,615
3,201
169
153
4,398
1,276
305
300
285
1,908
251
1,059
1,765
376
285
641
317
1,257
2,074
381
2,058
1,364
224
339
236
9,080
599
370
498
959
2,841
6,725
1,237
336
S2
11,595
38,406
2,358
718
878
254
1,004
676
192
2,689
635
644
1,842
1,339
1,405
871
351
176
27,369
3,181
167
152
4,356
1,267
302
295
279
1,896
248
1,051
1,752
372
282
636
314
1,241
2,063
373
2,045
1,348
221
334
234
8,970
589
361
490
942
2,770
6,572
1,215
329
S1
11,638
38,525
2,425
742
905
261
1,024
695
197
2,722
644
652
1,875
1,355
1,423
882
356
178
27,653
3,220
169
154
4,410
1,277
306
298
282
1,918
251
1,061
1,764
378
284
643
317
1,251
2,071
378
2,053
1,360
225
338
236
9,035
595
366
495
954
2,813
6,663
1,227
336
PP
11,683
38,682
2,462
755
922
264
1,040
708
199
2,738
652
658
1,896
1,364
1,438
888
361
180
27,898
3,240
171
155
4,452
1,286
309
302
289
1,930
254
1,069
1,777
382
287
648
320
1,266
2,081
386
2,066
1,376
228
342
238
9,145
605
375
503
971
2,884
6,815
1,249
343
R1
11,725
38,802
2,529
779
949
271
1,060
727
204
2,771
660
667
1,929
1,380
1,456
900
367
181
28,182
3,279
173
157
4,505
1,295
312
305
292
1,953
256
1,079
1,789
388
289
655
322
1,275
2,089
391
2,073
1,388
231
346
240
9,209
610
380
508
982
2,927
6,906
1,260
350
R2
11,770
38,958
2,566
793
966
275
1,075
741
207
2,787
668
673
1,949
1,389
1,472
906
372
183
28,427
3,299
175
158
4,547
1,304
315
309
298
1,965
259
1,087
1,802
392
293
660
325
1,291
2,099
399
2,086
1,404
234
351
243
9,319
620
389
516
1,000
2,998
7,059
1,282
357
High
11,728
38,838
2,499
769
940
268
1,055
722
202
2,755
659
664
1,916
1,374
1,454
895
366
181
28,144
3,260
173
156
4,494
1,294
311
307
295
1,942
256
1,077
1,790
386
291
654
323
1,281
2,092
394
2,079
1,392
231
347
241
9,255
615
384
511
988
2,955
6,968
1,270
350
4
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
MOSt Market Roundup
MOSt SmarT
MOSt SmarT
Account Summary
Cash Market
Model Corpus Value
Total Return till date
Booked Profit
Unrealised Profit
MOSt SmarT Performance- Last 3 months
INR
3,00,000
-8,599
-9,774
1,174
-2.9%
-3.3%
0.4%
Return %
Remark
No. of Calls
Strike Rate
P&L
Jun'18
6
28%
-8,037
Jul'18
7
14%
-20,023
Aug'18
6
83%
14,427
MOSt SmarT - Open Position
Scrip Name
SBIN
Reco Date
20-Aug-18
Reco Price
307
Stop Loss
297
Target
326
CMP
310
P/L (%)
1.2
MOSt SmarT- Last 10 Exit Stocks
Scrip Name
LUPIN
UPL
AUROPHARMA
RELIANCE
L&TFH
HDFCLIFE
BAJAJ-AUTO
BIOCON
ASIANPAINT
TECHM
Reco
BUY
BUY
BUY
BUY
BUY
BUY
BUY
BUY
BUY
BUY
Reco Date
21-Aug-18
24-Aug-18
17-Aug-18
8-Aug-18
3-Aug-18
27-Jul-18
1-Aug-18
24-Jul-18
18-Jul-18
29-Jun-18
Reco Price
888
659
652
1,208
179
503
2,753
573
1,396
652
Exit Date
31-Aug-18
30-Aug-18
23-Aug-18
21-Aug-18
17-Aug-18
6-Aug-18
1-Aug-18
25-Jul-18
23-Jul-18
13-Jul-18
Exit Price
931
686
685
1,248
180
490
2667
554
1459
648
P/L (%)
4.9
4.1
5.1
3.3
0.2
-2.8
-3.1
-3.3
4.6
-0.7
5
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
MOSt Market Roundup
High Conviction
High Conviction
Account Summary
Cash Market
Model Corpus Value
Total Return till date
Booked Profit
Unrealised Profit
Open Call
INR
3,00,000
13,833
18,126
-4294
Return %
4.6%
6.0%
-1.4%
Stock
Name
GRASIM
Reco Date
29-Aug-18
Reco
Price
1,087
Stop Loss
1,058
Target
1,137
CMP
1,071
Profit/ Loss
-4,294
High Conviction Trading Idea Performance
Remark
No. of Calls
Strike Rate
P&L
Mar'18
1
0%
-12,392
Apr'18
4
100%
18,231
May'18
3
0%
-39,599
Jul'18
1
100%
14,404
Aug'18
2
50%
-14,191
High Conviction- Last 5 Exit Stocks
Scrip Name
MARUTI
GRUH
TITAN
DCB
HAVELLS
Reco
BUY
BUY
BUY
BUY
BUY
Reco Date
14-Aug-18
03-Aug-18
18-Jul-18
28-May-18
9-May-18
Reco Price
9132
332
848
187
554
Exit Date
28-Aug-18
17-Aug-18
27-July-18
4-June-18
10-May-18
Exit Price
9223
315
890
178
537
P/L (%)
1.0
-5.4
4.8
-4.7
-3.2
6
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
MOSt Market Roundup
MOSt Multi Cap
MOSt Multi Cap- Performance
Returns
MOSt Multicap
Sensex
Nifty
BSE 200
* Inception date: 31st Jan 2016
3mth
-1.5%
7.0%
5.8%
3.1%
6mth
1.1%
4.6%
3.0%
1.2%
1yr
11.6%
15.7%
12.7%
11.2%
Since inception*
59.3%
51.2%
50.2%
52.6%
Data as on 31st July 2018
MOSt Multi Cap- Open Positions
Scrip Name
HDFC Bank
HDFC Standard LiFe
Bajaj Auto
Nilkamal
Mahindra CIE
Future Consumer
KEI
L&T
Shriram Transport Finance
REPCOHOME
L&T Finance Holdings
Hindustan Unilever
Cash
Total
Reco Date
29-Jul-16
17-Nov-17
24-Nov-17
12-Dec-17
10-Jan-18
13-Mar-18
28-Mar-18
08-May-18
08-May-18
04-Apr-18
30-Jul-18
08-Aug-18
Allocation
10%
5%
10%
5%
5%
5%
5%
10%
5%
5%
5%
10%
20%
100%
Reco Price
1247
327
3295
1781
252
53
380
1364
1542
595
180
1748
CMP
2060
461
2754
1975
264
53
419
1370
1341
543
182
1776
Gain (%)
65%
41%
-16%
11%
5%
-1%
10%
0%
-13%
-9%
1%
2%
MOSt Multi Cap - Last 5 Exit Stocks
Stock Name
Yes Bank
Havells
Reliance Ind
NMDC
Zee Entertainment
Wtg%
10%
5%
10%
5%
10%
Reco Date
07-Jun-17
06-Dec-17
08-May-18
23-Jan-18
30-Apr-16
Reco Price
321
511
970
149
415
Exit Date
12-Jul-18
12-Jul-18
12-Jul-18
12-Jul-18
08-May-18
Exit Price
379
567
1090
102
592
P/L (%)
18.2%
11.0%
12.4%
-28.0%
43.0%
7
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
 Motilal Oswal Financial Services
Siddhartha Khemka
Head - Retail Research
Chandan Taparia
Derivatives & Technical Analyst
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to law, regulation or which would subject MOSL & its group companies to registration or licensing requirements within such jurisdictions.
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:
This report is intended for distribution to Retail Investors.
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-
38281085.
Registration details of group entities.: Motilal Oswal Securities Ltd. (MOSL): INZ000158836 (BSE/NSE/MCX/NCDEX); CDSL: IN-DP-16-2015; NSDL: IN-DP-NSDL-152-2000; Research Analyst: INH000000412 . AMFI: ARN
17397. Investment Adviser: INA000007100. IRDA Corporate Agent - CA0541. 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, Insurance, Bond, NCDs 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