MOSt Market Roundup
1st August 2017
EQUITY Market
Cash Volumes (INR in Crores)
Exchange
BSE (Cash)
BSE (Derivatives)
NSE (Cash)
NSE(Derivatives)
Total
Today
3199
0.38
25776
341280
370255
Pev. Day
3689
0.16
28680
338648
371017
Sensex
32575.17
60.23
Nifty
10114.65
37.55
Dealer's Diary
Nifty gained to a record high lead by Auto and select NBFC stocks despite
overall broader market being negative. Strong global markets have
also lifted market. Good quarterly results, impressive July Auto monthly
sales data and above normal monsoon have a positive sentiment in
the market. However, PSU Banking stocks witnessed profit booking as
traders wait quantum of rate cut by RBI in tomorrow's credit policy.
Nifty gained 37 points (0.4%) to close at 10114 and Sensex gained 60
points to close at 32575. Both Asian and European market gained half
to one percent as China reported better than expected July
Manufacturing PMI data. Metal and Oil & Gas stocks gained while Capital
Goods stocks witnessed profit booking.
Shriram Transport Finance gained 2% to close at Rs1034 as the company
reported better than expected Q1 result. Marico declined over 2% to
close at Rs326. Company announced disappointing Q1 result.Eicher
Motor climbed up 5% to close all time high of Rs31505 as the company
reported 21% YoY growth in July monthly sales. Escorts surged 4% to
close at Rs701. Company reported 34% jump in its July tractor sales.
Advance / Decline
Group
Advance
Decline
Unchanged
NIFTY 50
35
16
0
BSE 201
91
108
2
Top Index Gainers
Scrip
EICHERMOT
IBULHSGFIN
TECHM
BPCL
BOSCHLTD
LTP
31,550.00
1,232.00
401.65
484.95
24,875.00
% Change
4.88
4.83
4.09
2.93
2.88
Technical Outlook
Nifty index continued its up move and made a new record life time
high of 10128 by surpassing its previous high of 10114. It formed a Bullish
candle with long lower shadow which indicates that every small decline
is being bought in the market. It closed the session with the gains of 37
points and registered a highest ever daily close above 10100 mark. It
has been respecting to its rising support trend line by connecting the
recent swing lows of 9543, 9646, 9838 and 9944. Now index has to
continue to hold above 10050 to witness a fresh up move towards 10200-
10250 zones while support are shifting higher to 10020 and 9950 mark.
Nifty Futures
10147.35
44.35
Premium
32.70
Top Index Losers
Scrip
BANKBARODA
ONGC
LUPIN
SBIN
KOTAKBANK
LTP
163.60
167.05
1018.95
309.25
1011.25
% Change
-1.48
-1.39
-1.26
-1.04
-1.02
DERIVATIVE MARKET
Derivative Volumes (INR in Crores)
Exchange
Index Futures
Stock Futures
Index Options
Stock Options
F&O Total
No. of
Contracts
116950
630956
2800215
369080
3917201
Turn
Over
10224
47694
254339
29022
341280
Nifty Future closed with the gains of 0.44% at 10147. On the option front,
maximum Put OI is at 10000 followed by 9800 strike while maximum Call OI is
at 10500 followed by 10400 strike. However Call OI concentration is scattered
at different strikes but shifting higher Call strike is giving the scope for a further
upside. Fresh Put writing was seen at 10100 and 10000 strike which suggests
that Put writers are keeping the tight grip on the market to push it to higher
zones. India VIX remained flattish at 11.90. Built up of long position were seen
in Techm, Heromotoco, Voltas, Eichermotor, Tvsmotor, Hindalco, Ashokley,
Maruti, M&M, BPCL, Ibulhsgfin, Hindunilvr, etc. while shorts were seen in
Marico, Godrejcp, PNB, Dabur, NIIT Tech, Lupin, etc.
Most Active Stock Future
Most Active Nifty Calls
Stock
Futures
MARUTI
YESBANK
TECHM
SBIN
Price
INR
7856.1
1827.3
402.5
309.0
No. of Contract
Vol
OI
17284
17116
16865
16469
12276
26444
10299
21144
Index
Option
10,200
10,300
10,100
10,400
Price
INR
91.0
51.9
148.0
26.7
No. of Contract
Vol
OI
112976
89341
71151
64294
35916
30704
39544
40379
Most Active Nifty Puts
Index
Option
10,000
9,900
10,100
9,800
Price
INR
72.0
51.0
105.3
35.8
No. of Contract
Vol
OI
126941
90403
69153
61995
66166
55494
27511
55275
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
1
 Motilal Oswal Financial Services
MOSt Market Roundup
1st August 2017
EQUITY Market
Global Indices
Indices
Dow Fut
Nasdaq Fut
FTSE
Hang Seng
Closing Price
21952
5910.25
7428.64
27540.23
Change(%)
0.50
0.47
0.77
0.79
News:
3
3
3
3
3
3
Closing Price
64.08
75.71
84.74
0.58
Change(%)
0.16
-0.52
-0.57
-0.07
3
3
3
3
Closing Price
52.73
1267.64
16.79
Change(%)
0.02
-0.14
-0.22
3
Currency
V/S INR
Dollar
Euro
Pound
Yen
Commodity
Indices
Brent Crude
Gold
Silver
July Manufacturing PMI at 47.9 vs 50.9 previous month
Shriram Transport Finance considers borrowing to raise funds
Capital First Rs invests Rs999.9mn in unit Capital First Home
Finance
Cadila gets US FDA approval for Temozolomide Capsules
Fortis Healthcare to consider enabling fund rising option
Piramal Enterprises Q1 net profit Rs3.02bn, (up 31% YoY) and
sales Rs19.88bn, (up 26.9% YoY)
Century Ply Q1 net profit Rs341.2mn (down 21% YoY)
Marico Q1 net profit Rs2.32bn (down 13.5% YoY) and sales
Rs16.9bn (down 3.5% YoY)
Airtel Payments Bank, HPCL announce strategic partnership
JSW Steel Q1 net profit Rs6.26bn (down 43.6% YoY) and sales
Rs159.8bn (up 36.5% YoY)
Lupin Labs gets US FDA approval for generic Lidex Ointment
US Data:
3
Note - *Data as of today, 5P.M.
Personal Income - Bloomberg expectation 0.4% (Prior 0.4%)
Company Meetings on 2nd Aug 17
Board Meetings -
Bata India, Capital First,
Dilip Buildcon, Emami, ENIL, Godrej Proper-
ties, Greenply Industries, KEC International,
Lupin Ltd, Magma Fincorp, Mahindra Holi-
days, PNB, Reliance Infra, UCO Bank, Voltas,
VST Industries and Wockhardt
AGM -
EIH, Emami, GDL, Godrej Properties,
Lupin Labs, Magma Fincorp, Mahindra Holi-
day, PNB Housing, Thomas Cook, VST Indus-
tries and Wockhardt
Results -
Bata India, Capital First, Emami, ENIL,
Godrej Properties, Godrej Industries, KEC In-
ternational, Lupin Ltd, Magma Fincorp,
Mahindra Holidays, PNB, Reliance Infra, UCO
Bank, Voltas, VST Industries and Wockhardt
Commodity:
3
Oil held gains above $50 a barrel before U.S. government data
forecast to show crude stockpiles extended declines, trimming
a glut.
Global Market:
3
3
Corporate Action on 2nd Aug17
Dividends -
- Aegis Logistic, Ambuja Cement,
Asahi India Glass, Glaxosmithkline Consumer,
GODREJ Industries, GE Shipping, Gujarat
Pipavav, Indiabulls Housing Finance, Nestle,
Page Indutries, Praj Industries and S H Kelkar
Asian stock markets advanced Tuesday as investors prepared
to assess a fresh round of corporate earnings reports and data
releases on the global economy, starting with an upbeat Chi-
nese factory numbers
Global stocks advanced following the latest set of corporate
results, with European shares tracking a jump in Asian peers
on both earnings and promising economic data. FTSE, CAC and
DAX gained half percent each.
Events on 2nd Aug 17
India - RBI Interest rate decision
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
2
 Motilal Oswal Financial Services
MOSt Market Roundup
1st August 2017
Technical Commentary
Nifty conquers Mount 10.1K. Opening higher at 10101, the Nifty went down to 10065 and marked time in a narrow range
in the first half. Late in the day, it rallied sharply to reach a high of 10129 to end the day at 10115, up 37 points for a 0.37%
gain. The overall market was divided 38:62 between advances and declines. The Mid Cap 100 was nominally down
0.01% at 18513 and the Small Cap 100 down 0.37% at 7771. India VIX ended the day 0.03% up at 11.9075. The Nifty has
support at 9061 from its Pivot and Resistance1 at 10274 for the August F&O series. Among the stocks that hit their to
date highs were Maruti, Eicher Motors, HDFC Bank, India Bull Housing Finance, Infibeam, Power Grid, IndusInd Bank,
Voltas, Bharat Electronics, United Phosphorus , Asian Paints and JSW Steel. Autos raced ahead on improved July sales
numbers, adding 1.53%. Metals followed with a 0..94% gain. IT, Commodity, Pharma, Media added 0.40 to 0.50% each.
Bank Nifty, FMCG, Private Banks, PSU Banks, CPSE and Infra followed with smaller gains . Realty ended flat. Energy was
the sole loser shedding 0.07%. Eicher Motors, IBull Hsg Finance, Tech Mahindra gained 4-5% each.
Nifty index continued its up move and made a new record life time high of 10128 by surpassing its previous high of
10114. It formed a Bullish candle with long lower shadow which indicates that every small decline is being bought in
the market. It closed the session with the gains of 37 points and registered a highest ever daily close above 10100 mark.
It has been respecting to its rising support trend line by connecting the recent swing lows of 9543, 9646, 9838 and 9944.
Now index has to continue to hold above 10050 to witness a fresh up move towards 10200-10250 zones while support
are shifting higher to 10020 and 9950 mark.
Follow up - Open Recommendations
Date
TRADING CALL
1-Aug
1-Aug
1-Aug
1-Aug
31-Jul
Scrip
SRTRANSFINFUT
BHARATFINFUT
INDUSINDBK
IGLFUT
TATASTEEL
Reco
BUY
BUY
BUY
BUY
BUY
Price
1037.13
855.77
1665.88
1194.6
564.85
Lot*
290
351
181
252
532
Close
1036
855.7
1665.7
1196.55
572.4
Target
1056.95
870.45
1702
1209
585.7
Stop Loss
1026.5
847.8
1645
1185
561
MTM +/-
-328
-25
-33
491
4017
* 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
1st 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
10,115
32,575
1,738
261
1,148
517
2,826
164
145
486
417
562
251
194
2,432
374
1,099
888
1,797
3,728
226
1,174
1,779
303
59
1,666
1,006
288
28
155
1,015
1,190
1,018
1,429
7,856
126
165
167
224
158
1,604
309
534
2,502
447
83
572
4,068
282
295
Low
10,066
32,462
1,732
260
1,141
515
2,798
163
144
472
414
559
249
192
2,370
373
1,065
878
1,772
3,668
221
1,154
1,755
301
59
1,638
998
285
28
154
1,011
1,172
1,016
1,403
7,725
125
163
167
221
157
1,592
308
530
2,491
446
81
569
4,052
280
289
S2
10,040
32,387
1,720
256
1,128
511
2,786
160
142
467
409
555
247
190
2,332
368
1,052
868
1,756
3,642
219
1,145
1,733
299
58
1,623
988
284
27
152
1,004
1,160
1,002
1,392
7,639
124
162
165
219
152
1,575
304
523
2,475
442
80
565
4,028
279
286
S1
10,077
32,481
1,729
258
1,138
514
2,806
162
143
476
413
559
249
192
2,382
371
1,076
878
1,777
3,685
222
1,160
1,756
301
58
1,644
997
286
28
153
1,010
1,175
1,010
1,411
7,747
125
164
166
222
155
1,589
306
529
2,488
444
82
569
4,048
280
291
PP
10,103
32,556
1,740
262
1,151
518
2,818
164
145
482
418
562
251
194
2,420
376
1,089
888
1,793
3,711
225
1,168
1,778
303
59
1,659
1,007
287
29
155
1,017
1,187
1,024
1,422
7,834
126
165
168
224
160
1,606
311
535
2,504
448
82
572
4,071
282
293
R1
10,140
32,651
1,749
265
1,161
521
2,838
166
146
491
422
566
253
195
2,470
379
1,113
898
1,814
3,754
228
1,183
1,801
305
59
1,681
1,016
289
29
157
1,023
1,202
1,032
1,441
7,942
128
166
170
226
162
1,620
313
540
2,518
451
84
576
4,091
283
298
R2
10,166
32,726
1,761
269
1,173
525
2,851
169
148
496
427
570
256
197
2,508
384
1,126
908
1,830
3,781
230
1,191
1,822
307
60
1,695
1,026
291
30
159
1,030
1,213
1,047
1,452
8,029
129
168
172
229
167
1,637
317
547
2,534
455
84
579
4,115
284
300
High
10,129
32,632
1,752
267
1,163
522
2,831
167
147
487
423
566
254
196
2,458
381
1,102
898
1,809
3,738
227
1,177
1,799
305
60
1,674
1,017
289
30
157
1,024
1,198
1,039
1,433
7,920
128
166
170
226
164
1,623
315
542
2,521
452
83
575
4,095
283
296
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
4
 Motilal Oswal Financial Services
MOSt Market Roundup
1st 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
1024740
1025342
-603
102.5%
102.5%
-0.1%
Return %
Period
Inception
36 Months
24 Months
12 Months
6 Months
3 Months
Benchmark Return % Portfolio
BSE200
NIFTY
Return %
110.3%
99.9%
102.5%
41.6%
33.0%
54.7%
23.2%
19.5%
17.6%
18.9%
17.1%
7.0%
16.1%
15.8%
6.1%
7.5%
8.6%
3.3%
Relative Out Performance %
With Bse 200 With Nifty
-7.8%
2.6%
13.1%
21.6%
-5.6%
-1.8%
-11.9%
-10.1%
-10.0%
-9.7%
-4.2%
-5.3%
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
447
1150
530
466
115
4068
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
1st August 2017
MOSt Multi Cap
MOSt Multi Cap- Performance
Returns
MOSt Multicap
Sensex
BSE 200
* Inception date: 31st Jan 2016
3mth
4.8%
4.4%
3.9%
6mth
20.3%
16.1%
18.2%
1yr
35.9%
14.5%
18.1%
Since inception*
53.3%
24.3%
30.0%
Data as on 30th June 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
Castrol India Ltd
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
3728
544
1797
2958
1827
216
3087
243
763
1514
2342
400
687
466
138
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
1st 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
Disclosures
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reliable and accurate. The intent of this report is not recommendatory in nature. The information is obtained from publicly available media or other sources
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its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. The report is prepared solely for
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instruments for the clients. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. MOSL will
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The views expressed in this research report accurately reflect the personal views of the analyst(s) about the subject securities or issues, and no part of the
compensation of the research analyst(s) was, is, or will be directly or indirectly related to the specific recommendations and views expressed by research
analyst(s) in this report.
Disclosure of Interest Statement
Analyst ownership of 1% or more securities
No
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Research Analyst views on Subject Company may vary based
on Fundamental research and Technical Research. Proprietary trading desk of MOSL or its associates maintains arm's length distance with Research Team as
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Research Team have expressed their views.
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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
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& 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
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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
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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
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research you could contact the following representatives of Motilal Oswal Capital Markets Singapore Pte Limited:
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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
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certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.
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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