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RETAIL RESEARCH
Issuer
Series
Last traded
Price (Rs)
Coupon
Rate
(%)
Tenor
Residual
Maturity
(Year)
Interest
payment
frequency
Latest
Record
Date
Call / Put
Date
Tenor to
Call / Put
(Yrs)
YTC
(%)
Daily
Avg
Volume
(Nos)
YTM (%)
879PFC28
PFC879B2NR
1011
8.79%
15 Yrs
14.79
Annual
Nil
NA
NA
NA
348
8.88%
REC Individual
862REC33
REC862NANR
1005
8.62%
20 Yrs
19.65
Annual
16Nov13
NA
NA
NA
219
8.72%
HUDCO Indiv
876HUDCO28
HUD876B2NR
1010
8.76%
15 Years
14.73
Annual
Nil
NA
NA
NA
1080
8.92%
HUDCO Indiv
901HUDCO34
HUD9013BNR
1026
9.01%
20 Years
19.95
Annual
Nil
NA
NA
NA
4298
8.78%
SBI
N3
STABANN3NR
10860
9.75%
10 years
7.12
Annual
16Mar13
17Mar16
2.12
9.52%
70
9.66%
SBI
N5
STABANN5NR
11099
9.95%
15 years
12.12
Annual
16Mar13
17Mar21
7.12
9.42%
215
9.56%
AA+ Rated
Taxable Bonds
AAA Rated
AA+ Rated
Residual Maturity Below 24 months
Shriram Transport
STFC NC
SRTRANNCNR
638
10.50%
5 Years
1.32
Annual
15Mar13
NA
NA
NA
172
14.93%
Shriram Transport
STFC NR Individual
SRTRANNRNR
1066
11.15%
3 Years
1.51
Annual
15Mar13
NA
NA
NA
76
13.38%
STFC NW Individual
SRTRANNWNR
992
11.15%
5 Years
4.49
Annual
Nil
NA
NA
NA
356
13.37%
Shriram Transport
STFC NU Individual
SRTRANNUNR
1110
0.00%
5 Years
3.51
Cumulative
Nil
NA
NA
NA
102
13.20%
15B
RELFINN2NR
1120
0.00%
3 Years
1.68
Cumulative
Nil
NA
NA
NA
43
14.91%
N7 Individual
SHRCITN7NR
1065
11.50%
3 Years
1.67
Annual
16Mar13
NA
NA
NA
35
13.84%
AA Rated
Residual Maturity Below 24 months
Religare Finvest
Shriram City Union
0MFL17
MF000017NR
1210
NA
66 Months
3.70
NA (13.43%)
NA
NA
NA
NA
1317
14.53%
Muthoot Finance
MFINNCD2D
MUTFIN2DNR
1241
NA
5.5 Yrs
3.45
Cumulative
Nil
NA
NA
NA
200
14.83%
Note:
Credit Rating (as per latest data): For STFC NCDs CARE AA+ / Crisil AA (Stable). For TATA Cap NCDs CARE AA+ / ICRA LAA+. For L&T Fin NCDs CARE AA+ / ICRA LAA+. For SBI Bonds CARE AAA / AAA/ Stable by CRISIL. For
IndiaInfoline NCDs issued on Aug 2011 and Sep 2012 CARE AA' by CARE & ICRA AA by ICRA. For IndiaInfoline NCDs issued on Sep 2013 CARE AA[Double A] by CARE & BWR AA (Outlook:Stable)' by Brickwork. For
SHRIRAMCITI NCDs Crisil AA/Stable Care AA'. For Muthoot NCDs CRISIL AA/Stable by CRISIL and [ICRA] AA(stable) by ICRA. For Manappuram NCDs A+/Negative by CRISIL. For Religare Finvest NCDs [ICRA] AA
(Stable) from ICRA Ltd. &[CARE] AA from CARE. For NHAI NCDs CRISIL AAA/Stable by CRISIL CARE AAA by CARE and "Fitch AAA(ind) with Stable Outlook by FITCH. For PFC NCDs "CRISIL AAA/Stable by CRISIL and ICRA
AAA by ICRA. For IRFC CRISIL AAA/Stable by CRISIL, [ICRA] AAA by ICRA and CARE AAA by CARE ". For HUDCO CARE AA+ from CARE and Fitch AA+ (ind) from Fitch. For REC CRISIL AAA/Stableby CRISIL,CARE AAAby
CARE, Fitch AAA(ind)by FITCH and [ICRA]AAAby ICRA. For Tata Capital Financial Service Ltd AA+/Stable from ICRA Limited and CARE AA from CARE. For IIFCL, ICRA AAA/Stable by ICRA,BWR AAA by Brickworks and CARE
AAA by CARE. For NHB, CRISIL AAA/Stable and CARE AAA". For Ennore Port, BWR AA+ (SO), CRISIL AA/Stable and CARE AA. For Dredging Corporation of India, BWR AA+ (SO) and CARE AA. For Jawaharlal Nehru Port Trust,
CRISIL AAA/Stable, "BWR AAA". For NHPC, [ICRA] AAA by ICRA IND AAA by India Rating & Research Private Limited and CARE AAA by CARE. For NTPC, CRISIL AAA from CRISIL and ICRA AAA from ICRA. For ECL CARE AA
by CARE and BWR AA by Brickwork.
Unexpected cut in credit rating could result in bond prices going down and resultant MTM loss.
YTM is yield to maturity Annualized yield that would be realized on a bond if the bond is held until the maturity date. Yield to call (YTC) is the annualized rate of return that an investor would earn if he bought a callable bond at
its current market price and held until the call is first exercisable by the issuer.
Religare, PFC, REC, DCI, Ennore Port, IIFCL NCDs are listed only on BSE, while the rest are listed on NSE and (in some cases Muthoot finance, IIFL, HUDCO and some series of Shriram Citi, Muthoot Fin & Religare Fin) also on BSE. In
case where the NCD are listed on both the exchanges, the price on the exchange where it is traded more (average daily volumes) is considered.
FV of NCDs in all cases is Rs.1000, except Rs.10,000 for SBI, Rs.1,00,000 for TATA Cap N1 and Rs. 200 for STFC N1 and STFC N2.
Last traded date means date of last trade (not beyond the previous month). Further freak trades are not considered for YTM calculations.
While short listing the top picks, enough weightage is given to frequency of trade and average volumes.
As mentioned, the series named 'NHPC Individual', 'REC Individual', 'HUDCO Individual' and 'NTPC Individual' are available only for Retail investors. To avail of 25 bps higher coupon rates, retailers have to hold the bonds for
the face value amount of not more than Rs. 10 lakh as on record dates. If they hold the bonds for the face value amount of more than Rs. 10 lakh on the record date (based on demat account or PAN), then they will lose out 25
bps in the coupon rates.
The series mentioned as individual in taxable NCDs of Shriram Transport and Shriram Citi are eligible for retail investments (and higher coupon) irrespective of investment amount. The only criterion for higher interest is that the
holder should be an individual as on the record date.
RETAIL RESEARCH