MOSt Market Roundup
27th September 2017
EQUITY Market
Cash Volumes (INR in Crores)
Exchange
Today
BSE (Cash)
NA
BSE (Derivatives)
NA
NSE (Cash)
29627
NSE(Derivatives) 1158706
Total
1188333
Pev. Day
4002
0.20
26491
736825
767318
Sensex
31159.81
439.95
Nifty
9735.75
135.75
Dealer's Diary
There was bloodbath in Dalal Street. Nifty nosedived over 4% (417
points) in seven consecutive days. Nifty slipped 136 points (1.4%) to
close at one month low at 9736 and Sensex lost 440 points to close at
31160. There was across the board selling in the market in Banking,
Auto, Metal, Cement, Pharma, Mid-cap, Small Cap ETC. NSE 500 stocks
advance decline ratio was at 1:6. Continuous FIIs selling, rising USDINR,
rising Crude oil and cautious stance by investors awaiting outcome of
Q2'18 results after implementation of GST are the major reasons that
pulled down the market. Moreover, media news that the border tension
between India and Myanmar also added to negative sentiment in the
market. USDINR surged to 6-month high of 65.69 and 10-Year yield 3-
month high of 6.67%. Global markets were stable after reduced geo-
political tension. Asian markets closed on a mixed note while European
markets opened on a positive note. Divi's Lab slipped nearly 10% to
close at Rs851after the news that the US FDA issues form 483 with 6
observations . Shriram Transport Finance gained 4% to close at Rs1050
after the media news that the IDFC and the Shriram Group have decided
to abandon the merger plan worked out in July this year.
Advance / Decline
Group
Advance
Decline
Unchanged
NIFTY 50
5
46
0
BSE 201
26
175
0
Top Index Gainers
Scrip
INFRATEL
TCS
TECHM
AMBUJACEM
GAIL
LTP
383.55
2495.10
450.00
261.75
399.00
% Change
1.90
0.83
0.59
0.17
0.05
Technical Outlook
Nifty continued its selling pressure for seventh consecutive trading
sessions and corrected towards 9714 levels. It formed a Bearish Belt
Hold candle on the daily chart and fell by around 200 points from its
intraday highs. It failed to hold 9880 and witnessed sustain selling
pressure till the end of session ahead of Sep. derivatives settlement
day. It nullified the effect of Dragon Fly Doji on daily scale and also
forming a bearish Belt hold on the weekly chart. Now till it remains
below 9820 zones, weakness could continue towards 9685 and 9550
zones while on the upside hurdles are seen at 9777 then 9820 zones.
Nifty Futures
9741.25
125.70
Premium
5.50
Top Index Losers
Scrip
ADANIPORTS
SBIN
BANKBARODA
SUNPHARMA
ULTRACEMCO
LTP
372.00
250.25
138.30
492.55
3804.00
% Change
-4.75
-3.10
-3.05
-2.96
-2.83
DERIVATIVE MARKET
Derivative Volumes (INR in Crores)
Exchange
Index Futures
Stock Futures
Index Options
Stock Options
F&O Total
No. of
Contracts
444291
1510776
11718438
602225
14275730
Turn
Over
35840
106769
968591
47506
1158706
Most Active Stock Future
Stock
Futures
DIVISLAB
RELIANCE
HDFCBANK
SUNPHARMA
Price
INR
860.6
798.4
1780.6
492.6
No. of Contract
Vol
OI
37703
26194
24709
24694
7142
24936
24473
26598
Nifty future closed negative by 1.27% at 9741. On the option front, maximum
Put OI shifted to 9700 followed by 9600 strike while maximum Call OI is shifted
to 9900 and 10000 strike. We have seen significant Call writing at all the
strikes from 9750 to 9900 while fresh Put writing activities was seen at all the
lower strike below 9700 zones. Sustained Call writing and Put unwinding is not
given any sign of pause in the selling pressure. India VIX moved up sharply by
7.21% at 13.86 and again jump in volatility is a cause of concern for the short
term market movement. Built up of shorts were seen in Siemens, Pidilitind,
Grasim, Kotak Bank, Drreddy, Bharatforg, Jswsteel, Hindzinc, Yes Bank, M&M,
Havells, Cadila, BEL, BHEL, etc. while longs were seen in Infratel, TCS, Techm,
Ambujacem, OFSS, NIIT Tech, Srtransfin, etc.
Most Active Nifty Calls
Index
Option
9,900
9,800
10,000
9,850
Price
INR
2.2
13.0
0.7
4.5
No. of Contract
Vol
OI
943612
578926
532321
403877
82126
53407
69686
36904
Most Active Nifty Puts
Index
Option
9,800
9,700
9,900
9,600
Price
INR
68.0
22.9
152.0
7.6
No. of Contract
Vol
OI
777036
560573
360255
262257
36971
61469
22618
43832
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
1
 Motilal Oswal Financial Services
MOSt Market Roundup
27th September 2017
EQUITY Market
Global Indices
Indices
Dow Fut
Nasdaq Fut
FTSE
Nikkei
Closing Price
22262
5900.5
7261
20267.05
Change(%)
0.01
0.14
0.39
-0.31
News:
3
3
Currency
V/S INR
Dollar
Euro
Pound
Yen
Closing Price
65.69
77.20
88.13
0.58
Change(%)
-0.36
0.01
-0.23
0.50
3
3
3
Commodity
Indices
Brent Crude
Gold
Silver
Closing Price
57.94
1290.57
16.85
Change(%)
-0.86
-0.26
0.19
3
3
Note - *Data as of today, 5P.M.
3
Company Meetings on 28th Sep 17
AGM -
BASF India, Dish TV, Eros Interna-
tional, Finlolex Cable, Granules India,
Gujarat Fluorochemicals, Gujarat Gas,
Gujarat State Petronet, HDC, IGL, Inox
Leisure, J Kumar Infra, Jagran Prakashan,
Jain Irrigation and Natco Pharma
PFC Commits 40.1b Rupees Financial Assistance to Telengana
State - Power Finance Corp. sanctioned term loan of Rs40.1b
to TSGENCO for setting up 5x800 MW, coal-based Yadadri ther-
mal power plant using super-critical technology in Nalgonda
district of southern Indian state of Telangana
Glenmark gets ANDA approval for Desonide Lotion
Huawei, Infosys sign a MoU for IT, Software talent develop-
ment
L&T Construction wins orders valued Rs21.7bn
Piramal Finance says got License from National Housing Bank,
Piramal Finance to start housing business - Ajay Piramal said
that the company has achieved AUM worth Rs 15,000 crore
for funding of real estate in three years. Piramal housing fi-
nance will initially focus on metros
Themis Medicare to form JV with Global Pharmatech
Ambani Sees India 4G Coverage Surpassing 2G in Next 12
Months - Telecom will play a large part in growth of economy,
says Mukesh Ambani, chairman of Reliance Industries that has
entered wireless services through Reliance Jio.
Cabinet approves mobile towers in cantonments - In order to
improve mobile phone connectivity, the Cabinet today ap-
proved installation of telecom towers in all army cantonments,
Union Minister Ravi Shankar Prasad said today.
US Data:
3
Pending Home sales - Bloomberg expectation -0.5% (Prior -
0.8%)
Commodity:
3
Oil traded near $52 after entering a bull market as U.S. indus-
try data showed an unexpected decline in crude stockpiles,
the first decrease since Hurricane Harvey hit the Texas coast
last month and shuttered refineries.
Asian stock markets were mixed on Wednesday as investors
awaited the outlines of U.S. tax overhaul plans by President
Donald Trump while news headlines on geopolitical tensions
surrounding North Korea have quieted.
European stocks rose to the highest level in more than two
months Wednesday as global markets got a boost from some
early steps towards tax reform in the United States and a mega-
merger on the Continent revived economic optimism. FTSE,
CAC and DAX (up half percent) gained.
Corporate Action on 28th Sep 17
Bonus - BEL, Bharat Forge, BHEL
Global Market:
3
Events on 28th Sep 17
NA
3
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
2
 Motilal Oswal Financial Services
MOSt Market Roundup
27th September 2017
Technical Commentary
Nifty index continued its selling pressure for seventh consecutive trading sessions and corrected towards 9714 levels.
It formed a Bearish Belt Hold candle on the daily chart and fell by around 200 points from its intraday highs. It failed to
hold 9880 zones and witnessed sustain selling pressure till the end of session ahead of September derivatives
settlement day. It nullified the effect of Dragon Fly Doji on daily scale and also forming a bearish Belt hold on the
weekly chart. Now till it remains below 9820 zones, weakness could continue towards 9685 and 9550 zones while on
the upside hurdles are seen at 9777 then 9820 zones.
Follow up - Open Recommendations
Date
TRADING CALL
26-Sep
26-Sep
21-Sep
12-Sep
12-Sep
Scrip
NIFTY9800PE
NIFTY9750PE
SBIN280CE
SBIN280CE
SBIN275CE
Reco
BUY
SELL
SELL
SELL
BUY
Price
35.25
21.45
1.13
3.17
5.05
Lot*
75
75
3000
3000
3000
Close
69.25
40.45
0.1
0.1
0.05
Target
-
-
-
-
-
Stop Loss
-
-
-
-
-
MTM +/-
2550
-1425
3090
9210
-15000
* 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
27th September 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
9,736
31,160
1,590
262
1,160
507
3,030
138
124
466
387
569
260
160
2,312
399
1,121
873
1,781
3,725
234
1,210
1,725
276
59
1,665
896
259
16
133
980
1,137
1,000
1,236
7,735
118
165
170
208
133
798
250
493
2,495
407
78
650
3,804
311
288
Low
9,714
31,101
1,580
260
1,153
501
3,007
138
124
463
384
563
255
158
2,281
397
1,108
872
1,770
3,709
231
1,188
1,716
275
58
1,663
895
257
15
133
977
1,132
996
1,224
7,715
118
165
170
207
132
796
250
490
2,474
402
78
643
3,773
309
287
S2
9,584
30,656
1,528
255
1,138
494
2,975
134
121
455
382
553
253
150
2,223
391
1,090
867
1,750
3,637
229
1,176
1,691
269
56
1,635
887
252
14
127
959
1,106
986
1,207
7,546
114
163
168
203
128
776
243
481
2,455
396
76
634
3,659
303
285
S1
9,660
30,908
1,559
259
1,149
500
3,003
136
123
460
384
561
256
155
2,267
395
1,106
870
1,765
3,681
231
1,193
1,708
273
57
1,650
891
256
15
130
969
1,121
993
1,222
7,641
116
164
169
205
130
787
247
487
2,475
401
77
642
3,732
307
287
PP
9,790
31,353
1,611
263
1,164
507
3,034
140
126
468
387
571
259
163
2,326
401
1,124
875
1,785
3,753
233
1,205
1,733
279
59
1,677
900
261
16
135
987
1,147
1,002
1,239
7,809
120
165
171
209
134
807
253
495
2,494
408
79
651
3,846
313
289
R1
9,866
31,605
1,642
266
1,174
514
3,062
142
128
474
390
579
263
168
2,370
405
1,139
879
1,801
3,797
236
1,222
1,749
282
61
1,692
904
264
17
138
997
1,163
1,009
1,253
7,904
122
166
172
211
137
818
257
501
2,514
414
80
659
3,918
317
290
R2
9,997
32,049
1,695
271
1,189
521
3,093
146
131
482
393
589
266
177
2,428
412
1,158
884
1,821
3,869
238
1,235
1,774
288
62
1,720
912
269
18
143
1,015
1,189
1,019
1,270
8,072
126
168
174
215
140
837
264
510
2,532
420
82
668
4,033
323
292
High
9,921
31,797
1,664
268
1,179
514
3,066
144
129
477
390
581
262
172
2,384
408
1,142
881
1,806
3,825
235
1,218
1,757
285
61
1,705
908
266
17
141
1,005
1,173
1,012
1,255
7,978
124
167
173
213
138
826
260
504
2,512
414
81
660
3,960
319
291
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025
4
 Motilal Oswal Financial Services
MOSt Market Roundup
27th September 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
986975
1045018
-58042
98.7%
104.5%
-5.8%
Return %
Period
Inception
36 Months
24 Months
12 Months
6 Months
3 Months
Benchmark Return % Portfolio
BSE200
NIFTY
Return %
103.4%
92.4%
98.7%
30.8%
22.2%
43.3%
29.1%
24.9%
23.8%
13.1%
11.8%
-0.6%
6.4%
6.1%
-4.8%
2.8%
2.4%
-0.8%
Relative Out Performance %
With Bse 200 With Nifty
-4.7%
6.3%
12.5%
21.2%
-5.4%
-1.1%
-13.7%
-12.4%
-11.2%
-10.9%
-3.6%
-3.2%
MOSt Velocity - Open Position
Stock Name
TATAMOTORS
EICHERMOT
RBLBANK
FEDERALBNK
LICHSGFIN
ULTRACEMCO
DALMIABHA
JINDALSTEL
Cash
Total
Sector Name
AUTO
AUTO
FINANCIAL
FINANCIAL
FINANCIAL
CEMENT
CEMENT
METALS
Cash
Reco Date
11-Apr-17
7-Sep-17
21-Jun-17
20-Jul-17
31-Aug-17
1-Aug-17
12-Sep-17
12-Sep-17
Wtg%
10.0%
5.0%
10.0%
10.0%
10.0%
10.0%
10.0%
5.0%
30.0%
100.0%
CMP
405
30470
501
111
606
3799
2585
133
High Conviction
Account Summary
Cash Market
Model Corpus Value
Total Return till date
Booked Profit
Unrealised Profit
INR
300000
63885
63885
0
Return %
21.3%
21.3%
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
Aug’17
1
0%
-11647
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
27th September 2017
MOSt Multi Cap
MOSt Multi Cap- Performance
Returns
MOSt Multicap
Sensex
BSE 200
* Inception date: 31st Jan 2016
3mth
0.0%
1.9%
4.1%
6mth
10.6%
10.4%
12.3%
1yr
9.3%
11.5%
15.0%
Since inception*
53.7%
27.6%
35.8%
Data as on 31st August 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
Total
Sector Name
Automobiles
Media
Banking
Diversified
Banking
Capital Goods
Financial
Automobiles
Agriculture
Textiles
Financial
Oil & Gas
Cement
Pharmaceuticals
CMP
3727
524
1777
2609
353
208
2600
250
750
1522
2010
719
691
526
115
Allocation (%)
10
10
10
10
10
5
5
5
5
5
5
5
5
5
5
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
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Regional Disclosures (outside India)
This report is not directed or intended for distribution to or use by any person or entity resident in a state, country or any jurisdiction, where such distribution,
publication, availability or use would be contrary to law, regulation or which would subject MOSL & its group companies to registration or licensing
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