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Geodata
Vol. 7
Issue: 07
January, 2015
Page No.
Editorial…………………………………….. 4
C O N T E N T S
Capital Market
Market Roundup……………………………. 5
Goods and Services Tax……...…………... 6
Editor:
C J George
Managing Director
Geojit BNP Paribas
Financial Services Ltd.
Registered Office:
34/659-P, Civil Line Road,
Padivattom, Kochi - 682024,
Kerala, India.
Corporate Identity
Number:
L67120KL1994PLC008403
Phone: +91 484 2901000
Fundamental Research
It’s likely to be a volatile start for the New Year……………….…... 7
Portfolio Talk……..………………….. 8
Mutual Funds
Performance of Schemes………….. 12
Equity Recommendations………….. 17
Equity Model Portfolio……...………. 18
Debt Recommendations..…………... 19
Good Picks…………………………… 21
Commodity Futures
Amid price slide,
Indian Markets set for overhaul…...………. 24
General Disclosures & Disclaimers……. 34
Fax: +91 484 2979695
Website:
geojitbnpparibas.com
E-mail:
[email protected]
Printed, Published and
Edited by: C J George
Owned by:
Geojit BNP Paribas
Financial Services Ltd.
Published from:
Geojit BNP Paribas
Financial Services Ltd,.
34/659-P, Civil Line Road,
Padivattom, Kochi - 682024.
Printed at:
Indu Systems.,
Cochin University Road,
South Kalamassery,
Kochi - 682022.
E d i t o r i a l
The Bull run will continue in 2015
As the New Year begins, investors must be a happy lot. The
benchmark indices Sensex and Nifty have returned around 30
% for 2014. The mid and small-caps have out-performed with
annual returns of 52 % and 67 % respectively. About 50 percent of the 836 stocks - the BSE 500, BSE Midcap and BSE
Smallcap put together - have doubled in the past 15 months.
These are spectacular returns! Now, the relevant question is:
where do we go from here?
Patient money can still be made
One can argue that the ‘big short term money’ has been made in the last year and
therefore, the returns this year will be modest. The big short term returns of 2014 were
facilitated by the political change and expectations flowing from that. To that extent, the
big money has already been made. But ‘patient money’ is yet to be made. After a
spectacular rally in the market, investors might feel that valuations have run ahead of
fundamentals and therefore there is limited room for further appreciation. This is an error
of perception. Future growth and earnings potential can be substantial. Presently, India is
at an inflexion point as far as growth and earnings are concerned. Economic growth is
likely to accelerate from around 5.4 % in FY2015 to around 6.5 % in FY 2016 and beyond
7 % after that. Presently, there is huge unutilized capacity in many industries. In such a
scenario, when growth picks up, earnings will accelerate. Declining interest rates will add
momentum to earnings acceleration. We feel that earnings in India can triple in the next
six years, i.e. sensex earnings can grow to around 4500. With the historical PE of around
16, this will justify a sensex level of around 70000 by 2020. In short, patient money is yet
to be made.
A major positive policy action impacting the market in 2015 would be the cut in interest
rates. Regarding the interest rate cut, the only questions are: when and by how much?
We feel that the RBI will cut the rates early in 2015 and a total of 75 bp cut is possible in
2015. This augurs well for the economy and markets. Another policy action that can have
a negative impact on the markets can be the FED raising rates in the US. This event,
probably happening in the second half of 2015, can cause a flutter in the global financial
markets, as they did when the FED announced QE tapering in 2013. But the big
difference is that in 2015, unlike in 2013, the markets have partly discounted this, since it
is a known event. More importantly, India would be the least impacted in the eventuality
of a capital flight since our macro fundamentals are strong unlike in 2013.The fact is that
presently India is one among the few attractive investment destinations in the world.
Therefore, FII flows will continue. This, along with the increasing domestic inflows will
charge the bull in 2015.
Dr. V.K. Vijayakumar, Investment Strategist, Geojit BNP Paribas
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 4
C a p i t a l
M a r k e t
Market Roundup
Markets closed on December 31 st for the year 2014 on an optimistic note. The
benchmark indices Sensex and Nifty closed at 27499.42 and 8282.70 respectively
with gains of around 30 % for 2014. The mid and small-cap indices out-performed
with gains of 52 % and 67 % respectively. India has been the second best performing
among the major markets in the world, second only to China which made a last two
month surge to notch 41 % gain for the year. 30 % gain on the benchmark indices is
the best return in the last five years. This return is particularly impressive when seen
in the context of - 8 % return from gold and near zero inflation adjusted return from
bank deposits. By the year end, crude is at a 5 ½ year low and gold is at a 4 ½ year
low.
Financials, particularly private sector banks, were the leaders in 2014. Axis Bank led
with a gain of 91.5% followed by Kotak and ICICI Bank. In autos Maruti led with a
gain of 88 %. Capital goods presented a mixed bag with L&T gaining 39 %. Health
care index did very well with gain of 42 %. Lupin and Cipla notched gains of around
54 % while midcap pharma sparkled with the likes of Aurobindo, Torrent and Strides
notching triple digit gains. The gains in IT (2013 ‘s star performer with gain of 58 %)
were muted in 2014 but midcap IT like Mindtree and Persistent Systems made
impressive gains.
Post 2000 history of investment returns
During the last 15 years – 2000 to 2014 – market gave positive returns during 11
years. The four losing years were 2000 (-15%), 2001 (-16%), 2008 (-50%) and 2011
(-25%). The longest winning streak was the six years between 2002 – 2007 when the
Nifty moved from 1000 to 6000. In 1999 Nifty was around 850; now it is around 8500,
i.e. Nifty is up 10 times.
FED’s patient stance
In December the FED announced that it will be ‘patient’ with interest rates removing
the phrase ‘considerable amount of time’. Experts interpret it to mean that the Fed
might start tightening in the second half of 2015. Since this is a known factor the
markets will be better prepared this time.
India looks attractive in a growth scarce world
Globally growth will be scarce in 2015. Of course, the US is bouncing back strongly;
but else where the situation is difficult. China is decelerating fast; Euro Zone is
nearing stagnation; Japan is struggling and commodity exporting Emerging Markets
like Russia and Brazil are reeling under commodity crash. In this scenario of global
growth scarcity, coupled with abundant liquidity, there are only limited investment
destinations that can attract capital. India is, by all parameters, one of the best
investment destinations in the present day world.
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 5
C a p i t a l
M a r k e t
Goods and Services Tax
During the Budget presentation on July 6, 2009, then Finance Minister
Pranab Mukherjee announced that the Goods and Services Tax (GST)
would come into effect from April 2010. But due to differences of opinion
between many state governments and the central government the then
UPA government postponed the proposal. At present NDA government is
likely to implement the same with minor modifications sooner than later.
GST is a comprehensive tax levy on manufacture, sale and consumption
of goods and services.
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The main benefit of the GST will be the avoidance of all types of indirect taxes. It will
lead to the abolition of all other taxes like taxes on transportation of goods and services,
State-level sales tax, entry tax, Central Sales Tax, Octroi, stamp duty, et cetera; which
will reduce the complex accounting and taxation paper work and its subsequent delays.
As multiple taxes will be replaced, the tax structure in the country will become simple.
Also as a simple tax structure comes with a strong compliance, it may increase the
number of tax payees and in turn increase the tax revenue. The customers are paying
GST for the goods and services they buy and they can easily calculate their tax
payment. More than 150 countries have introduced GST in some forms. It will create
an environment without corruption, because GST will be levied only at the destination
point, and not at various points.
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GST will reduce the tax barriers between states and it will boost the economic development of our country. There are around 650 border check-points in the country and most
of the time trucks with full loads are usually stuck at the check-points due to the different sales and entry tax requirements of the different states. Such delays usually affect
very badly the companies which are handling perishable and non alcoholic beverages.
According to the World Bank estimates, the Indian companies pay nearly ten to fifteen
per cent of their net sales for logistics, compared to international standards of less than
five percent.
The sectors which are mainly going to benefit after the implementation of GST are
automobile, E-commerce, logistics, FMCG and port companies. There will be major
savings in transportation costs for the companies, which will help the companies to
work efficiently and profitably. In India, E-Commerce has a huge growth potential and
hassle free movements of goods will be beneficial to these companies which in turn can
attract more and more entrepreneurs in this segment to commence their own ventures.
The major woe remains in the implementation part of the GST; the concerns on the
agreement of the new tax between the state and central government.
Mr. Alex K. Mathews, Head - Technical Research
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 6
F u n d a m e n t a l
R e s e a r c h
It’s likely to be a volatile start for the New Year
The New Year Market outlook will depend on outcomes of two important
events; the upcoming European Central Bank (ECB) meeting and Union
Budget 2015, which are slated to happen in the first quarter of 2015. The
ECB meet in January’2015 will define global liquidity and will have
consequential impact on world economy and FED action. As per the
same, the US FED will decide when and how much, to increase interest
rates. As we have seen Global equities continued to cheer as FED
maintained dovish stance. As 2014 drew to a close, risk appetite tapered
and volatility increased in commodity markets which cascaded to equities. We saw crude
consolidating above $60 for a brief period. But with recent concerns over China and EU,
the fallout continued below $60. These recent developments have raised questions on
global growth outlook. In this context, there are high expectations on ECB and Chinese
government to mend the rot in their respective economies. These events would
dictate global markets and influence global liquidity & economy, which is slowing down.
Increase in US interest rate will impact liquidity in the market. A part of this impact will be
managed through easing in Japan and likely stimulus by ECB. If ECB outcome in
January’15 is not as per expectation, global market performance will be impacted.
Regarding domestic factors, we have seen that winter session has come as a mixed bag.
But on the brighter side, ordinance in Land, Coal and Insurance will provide roadmap,
which will decide whether capital investment will start from corporate. We have to
appreciate government’s good intent to take the reforms forward. But it remains to be
seen how the government intends to pass them. Bold steps from the government to put
the economy back on track and smooth rollout of GST will structure the market in the
later part. Having said that, these developments are crucial in building the backbone for
impending budget session and hence provide support to the market amidst risks from
crude prices and global economy. Another factor will be RBI's stance on interest rate cut.
Though inflation has eased in recent months, global factors like rate hike in US and its
impact on rupee will influence RBI decision. But interest rate cut is certain, in the medium
term, rather than immediately. An early interest rate cut and quantum will define the
amount of benefit. Divestment by government which is likely to gather pace in the coming
year will also influence liquidity in the domestic market. Hence next year will be volatile
especially in the first quarter led by ECB, consensus in US rate hike and Budget. If all
factors are as expected, we can have a better performance over the year.
Based on these factors, a rate cut, rollout of Land & Mining bills and pickup in economic
activity will be beneficial to sectors like Infra, banks, power and realty. This will be more
beneficiary to structured and lean balance sheets. Auto sector could see some benefits
from interest rate cut, and pickup in economic activities. Exporters, Pharma and IT will be
the largest beneficial of rupee depreciation as world is in a changing structure. As world
stabilizes over the medium term, such sectors will continue to outperform in the later time
too. Metals, Mining and Oil & Gas upstream sector will continue to face pressure from the
global commodity prices. Sectors with premium valuation like FMCG can underperform in
the medium term.
Mr. Vinod Nair, Head - Fundamental Research
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 7
F u n d a m e n t a l
R e s e a r c h
HDFC Bank Ltd.
HDFC Bank is promoted by the Housing Development Finance Corporation Limited
(HDFC), India's largest housing finance company. It was among the first companies to
receive an 'in principle' approval from the RBI to set up a bank in the private sector.
The Bank started operations as a scheduled commercial bank in January 1995 under
the RBI's liberalization policies. In 2000, Times Bank Limited was merged with HDFC
Bank Ltd and in 2008, HDFC Bank acquired Centurion Bank of Punjab taking its total
branches to more than 1,000 and currently it has a nationwide network of 3,600
branches and 11,515 ATMs in 2,272 Indian towns and cities. HDFC Bank caters to a
wide range of banking services covering commercial and investment banking on the
wholesale side and transactional / branch banking on the retail side. The bank has
three business segments Wholesale banking, Treasury and Retail banking.
HDFC bank has been consistently delivering robust earnings at 30% CAGR with its
strong retail franchise while maintaining healthy asset quality. Strong retail mix (48%
of loan book) and high CASA ratio has helped it maintain healthy and stable NIMs
over the years. HDFC Bank has been expanding its network mostly in rural and
semi-urban areas in last two years, adding around 1300 branches since FY10. Being
a first-mover in terms of being the first private bank to open branches in rural and
semi urban areas will be advantageous over the long term in terms of branch network
profitability. This is likely to help it maintain the retail loan growth and also aid in
further improving CASA ratio to improve margins. Profitability from these branch
additions is likely to accrue over the next 2-3 years.
HDFC Bank has the best-in-class liability franchise, which will improve further as it
expands its branch network in rural and semi urban areas. While an improvement in
economic activity will improve loan books of most banks, HDFC Bank’s strong retail
franchise puts it in a strong position to benefit from the start of the recovery as
consumption picks up. HDFC Bank also has one of the best capital adequacy ratios
among peers and places it in a better position to benefit from an economic rebound.
Also, it has announced plans to raise about Rs100bn in equity capital, which implies
there would be no need to raise further capital for the next three years.
We believe HDFC bank fits well with longer term themes of deleveraging, capital
accumulation/ preservation and deposit gathering. HDFC bank will be a key
beneficiary of an economic recovery and interest rate cut due to its strong retail
franchise and improving market share and expanding rural reach. We have a BUY
rating on the stock with a Target Price of Rs1,171 which implies FY16E P/B of 4.5x.
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 8
F u n d a m e n t a l
R e s e a r c h
Larsen & Toubro Ltd.
Larsen & Toubro Ltd. (L&T) is an infrastructure conglomerate with presence
in almost all verticals of the sector. L&T is mainly an engineering and construction company; it also manufactures machinery and electrical equipment
for various industries. The company has diversified interests with investments
in IT, financial, and
infrastructure developmental projects. Geographically,
L&T is essentially domestic, but has expanded its footprint to international
territories, primarily in the Middle East.
L&T remains the largest player with a strong balance sheet. We believe L&T
is the biggest potential beneficiary of any improvement in the investment
cycle. The lack of alternative plays with such diversified capabilities and
strong competitive edge, position L&T as the preferred investment vehicle to
gain exposure to a pickup in investments. The company recently indicated
that it has a visible order pipeline of Rs4trillion, which is 2 times its current
order book.
Vertically, the company has strengthened its position in the power and
hydrocarbon segments. Although its investments in new areas such as
shipbuilding, defense and nuclear have not materialized in the current
slowdown, we believe that these investments have put the company in a
strong position in the event of an uptick in the investment cycle.
In Q2FY15, company’s revenue grew 10.6% yoy to Rs212bn. EBITDA saw a
decline of 6.8% yoy to Rs23bn. Besides, margin too was down by 210 basis
point vs Q2FY14’s 13.1%. Adjusting for accounting treatments for their
project development business, margins would have been higher by 80bps.
PAT increased by 7% yoy to Rs8.6bn. The near-medium term concern would
be on completion of loss making hydrocarbon projects and removal of
uncertainty over further losses. Margins remained low because execution of
major orders are in its nascent stages and have not reached margin
recognition threshold. But, margins are likely to improve in late FY15 as
execution improves.
Fundamentally, we expect order flows to continue to drive stock performance,
with investors closely monitoring quarterly results to see if the company is on
target. As quarterly performance is not linear, the stock could be volatile in
the near term. Separately, monetization of subsidiaries could also be positive
for the stock. We believe L&T’s premium valuation is justified by the lack of
other credible alternatives and relatively strong financial position. We value
the stock at 19.5x on its FY17 earnings, and recommend a ‘BUY’ with a target
Price of Rs1,795, meaning an upside of 20% from CMP of Rs1,497.
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 9
F u n d a m e n t a l
R e s e a r c h
Bharat Petroleum Corporation Ltd.
Bharat Petroleum Corporation Ltd (BPCL) is a public sector firm in which the government
of India holds 54.93%. It has interests in oil refining and marketing of petroleum products. It
is the third largest refining company in India with a capacity of 30.5mmtpa which constitute
14% of domestic refining capacity. It has 12mmtpa facility at Mumbai, 9.5mmtpa at Kochi
and 6mmtpa at Bina refinery. BPCL has majority stake (63%) in Numaligarh Refineries, a
3mmtpa refinery in the North East. Its Exploration and Production (E&P) operations are
routed through its 100% subsidiary- Bharat Petro Resources Ltd (BPRL). BPCL has participating interest in 20 Oil & Gas blocks, 8 blocks (domestic) & 12 (overseas). Currently it has
43 major LNG customers. It has 20.5% market share in Lubricants, with 800+ grades of
products. BPCL has 25.6% market share of domestic LPG market with 3,209 distributors &
49 LPG bottling plants. With 34 aviation service stations, having presence at all the major
gateways & airports with 23.5% market share in Aviation Turbine Fuel (ATF).
BPCL has 49% stake in the ~Rs114bn Bina Refinery, which has a capacity of 6mmtpa.
Bina Refinery’s commercial production ramp up is expected in coming quarters. It is expected that this refinery is to break even by FY15. Bina facility is already making cash
profit since the past fiscal and is operating at 100% of its capacity and is getting the highest gross refining margins (GRM) for the company at USD 7.8 per barrel. The refinery is
expected to complete its creeping expansion in next 3-4 quarters enabling better utilization
levels. BPCL has had several successes in its overseas E&P assets particularly Mozambique and Brazil.
BPCL plans to strategically expand its upstream activities through inorganic and organic
growth opportunities. BPCL is also looking to create opportunities with the manufacture of
niche petrochemicals and improve margin and value through facility upgrades. On CAPEX
for modernization of Kochi refinery, management guided for Rs1,40,000mn spread over 4
years with bulk of the spending starting from FY15. Planned CAPEX for FY15& FY16 is
likely to be 7,0000mn& 9,0000mn respectively. Planned CAPEX for E&P business is
around $240 mn (Rs14,400 mn) for FY15 (CAPEX share of BPCL). The E&P business,
which until now has derived value primarily from Mozambique, will look to Brazilian assets
for further value creation, the prospects of which look bright.
Within the Indian oil & gas sector, BPCL has benefited from improving fundamentals in the
domestic business on account of declines in crude prices, and potential diesel de-control
resulting in improvement in the financials of the company. We expect lower interest costs
and increased financial flexibility to result in improvement of operational efficiency.
BPCL has one of the strongest management teams within the PSU space and its aggressive investments in E&P (its recent reserve upgrade) provides downside protection for the
stock. The decline in crude prices and de- regulation of diesel prices will have positive
impact on its future earnings leading to potential re-rating of in the stock. At CMP of Rs645,
BPCL is trading at P/E of 10x and 9x on FY16E and FY17E earnings respectively. We
recommend ‘BUY’ rating for the stock with a target price of Rs829.
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 10
F u n d a m e n t a l
R e s e a r c h
Maruti Suzuki India Ltd.
Maruti Suzuki is the largest passenger vehicle manufacturer in the country with a
consolidated market share of 42% in the 2.5mn passenger vehicle market in India.
Along with the primary business of manufacture and sale of motor vehicle and spare
parts, they also facilitate car financing and sale of pre owned cars (under the brand
"Maruti True Value"). The company is a subsidiary of Suzuki Motor Corporation of
Japan. They have four plants, three located at Palam Gurgaon Road, Gurgaon,
Haryana and one located at Manesar Industrial Town, Gurgaon, Haryana.
We expect a significant improvement in consumer sentiment and pent-up demand to
improve Maruti Suzuki’s volume growth to 17% in FY15-16. Maruti’s urban market
volumes started to improve from June 2014 quarter (improved 12% YoY), after 8
months of continuous decline. Earnings also improved 14% YoY, signalling signs of
recovery in the industry. Further, share of first-time buyers also saw a 500bp improvement YoY, to 42% in H1FY15 with the top-10 cities recording growth of more
than 10%. After the launch of the Ciaz and automatic version of Alto and Celerio, two
further launches are expected in FY15. We believe the company is well placed to
support volume growth and also completely address market share challenges.
Maruti reported a 20.8% increase in total sales in December at 1,09,791 units
against sales of 90,924 units in the same month last year and had reported a growth
of 20% to 110,147 cars in the month of November 2014. Its domestic sales increased
by 13.3% during December 2014 to 98,109 units as against 86,613 units in
December, 2013. Exports in December month rose by nearly three-fold to 11,682
units compared to 4,311 units in December last year.
The company is currently offering significant discounts, especially on entry level cars,
in the region of 5-7%. Such discounts are also expected to moderate from 2nd half of
FY15E further driving up margins. This moderation in discounts, along with improvement in capacity utilisation from about 70% to 90% and somewhat benign commodity
costs, should negate any major forex challenges and drive further margin expansion
in the region of 120bp over the period FY15-16E. Ciaz and proposed launches of two
further vehicles in the SUV segment will also provide a better product mix that will
help improve margins with recovery in the urban market.
Supported by an extensive distribution network in rural markets, improved mix
in premium segments and steady industrial relations, Maruti Suzuki managed to
drive a considerable improvement in volume market share of nearly 300bp in
the past two years, to nearly 42.5%. Further, with improvement in economic
conditions, favourable product mix and benign raw material prices, we expect
significant increase in volumes and improvements in margins thereby driving
earnings growth. We currently have a BUY rating on the scrip with a target
price of Rs3,600 which implies P/E of 16x on FY17E earnings.
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 11
M u t u a l
F u n d s
Performance of Schemes
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M u t u a l
F u n d s
Performance of Schemes Contd...
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M u t u a l
F u n d s
Performance of Schemes Contd...
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M u t u a l
F u n d s
Performance of Schemes Contd...
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M u t u a l
F u n d s
Performance of Schemes Contd...
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M u t u a l
F u n d s
Equity Fund Recommendations
EQUITY FUND RECOMMENDED LIST : JANUARY 2015
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 17
M u t u a l
F u n d s
Equity Fund Model Portfolio
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 18
M u t u a l
F u n d s
Debt Fund Recommendations
DEBT FUND RECOMMENDED LIST : JANUARY 2015
Recommended: Fund recommended for investment based on quantitative 'NAV'
analysis and qualitative evaluation of the fund.
Under Review: Fund is under review. We have reservations as to the future of
this fund and think that any new subscriptions should be directed towards another
fund in the offering until such time as our view is cleared on this fund.
Exit: Fund has underperformed consistently compared to the indices and/ or
the peer group on risk adjusted returns parameters. Hence suggest an exit and
investment in another fund.
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 19
M u t u a l
F u n d s
Tax Corner
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 20
M u t u a l
F u n d s
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Good Picks
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M u t u a l
F u n d s
Good Picks Contd...
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M u t u a l
F u n d s
Good Picks Contd...
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 23
C o m m o d i t y
F u t u r e s
Amid price slide, Indian markets set for overhaul
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Oil continues to slide: Both demand as well as supply factors
continued to plague oil prices in the last month of 2014. Oil output in
Russia and Iraq surged to the highest levels in decades in
December, according to data quoted by Bloomberg from both
countries’ governments. OPEC pumped above its quota for a
seventh month in December even as US output expanded to the
highest in more than three decades, according to Bloomberg data.
The 0.3 percent increase in output from Russia to 10.667 million barrels a day also
suggest that Russia’s biggest source of revenue has so far been unaffected by US
and European sanctions or oil’s price collapse. Meanwhile, from the demand side,
Euro-area factory output expanded less than initially estimated in December, while
a manufacturing gauge in China, the world’s second largest oil consumer, fell to
the weakest level in 18 months. Manufacturing in the US also cooled in December.
Natural Gas futures rose in MCX after New York futures rose from a 27 month low
on speculation that a blast of frigid weather will stoke demand for the heating fuel.
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Base Metals too suffer: The weak demand indicators also sparked falls in
base metals. Copper dropped to the lowest in more than four years in London
Metal Exchange. Copper slid 14 percent last year amid signs of a cooling economy
in China, the world’s biggest user. China’s economy probably expanded last year
at the slowest pace since 1990, according to economists surveyed by Bloomberg.
The US is the second biggest copper consumer.
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Gold & Silver attempt bounce backs, but struggles in general. Gold futures in
international market posted a consecutive annual loss for the first time since 1998.
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Indian markets set for overhaul. According to newspaper reports, the
Reserve Bank of India is set to give in-principle approval for foreign institutional
investors (FIIs) and banks to participate in commodity markets. According to a
report by news agency Press Trust of India, the combined turnover of India’s
commixes in April-November declined 48 percent from the year-ago period to
Rs.39.88 lakh crore mainly due to poor trading volumes. According to Forward
Markets Commission (FMC) data, these exchanges had generated a business of
Rs.76.78 lakh crore in April - November last year. A committee headed by senior
economic advisor had come out with a report on “Steps to fulfill the objectives of
price discovery and risk management of the commodity derivatives market”, while
also saying that high transaction costs in the futures market were an impediment to
arbitrage and that these could be reduced by allowing banks and financial
institutions, including FIIs to participate in commodity futures trading. Banks are
also presently restricted under the Banking regulation Act. The report also
commented on the need to explore the idea of extending hours to bridge Australian
and other Asian markets while also strongly objecting to abrupt suspension of
trading in commodities and recommended the commodity markets regulator
voluntarily adopt regulatory governance rules from the draft Indian Financial code,
to reduce legal and regulatory risks in the eyes of financial firms.
Mr. Anand James, Co-Head, Technical Research
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 24
P a n - I n d i a
O f f i c e
N e t w o r k
ANDHRA PRADESH
Regional Offices: Visakhapatnam: # 47-11-18/7, First Floor,Off # 4, G K Towers,Dwarakanagar Main Road,Visakhapatnam- 530 016., Ph: 0891 - 2717351, 07702454949.
Email: [email protected]. Vijayawada: Door No.39-9-1, 5th Floor, Anjaneya Jewellery Building, M.G. Road , Venkateswara Puram, Labbipet, Vijayawada - 520 010., Ph: 08666647995/998, 09959022565. Email: [email protected].
BRANCHES: Anakapalli Main Road: Ph: 08924-225116,7,8,9, 9393925960, Bhimavaram:
Ph: 08816-221014, 15, 09396221014, Bidar: Ph: 08482-222652, 53, 54, 07483185238, Chirala: Ph: 08594 233627, 628 , 629, 09391151071, Chittoor - Andhra Pradesh: Ph: 08572
233971, 08572 233972, 9396503632, Gajuwaka Main Road: Ph: 0891-2549347, 48, 49,
09393925961, Governorpet: Ph: 0866 - 2578084, 2578086, 2578087, 09346841411, Guntur:
Ph: 0863-2331063, 2331064, 2331065, 6533775, 6533776, 09346697094, Gulbarga Town:
Ph: 08472-272940, 272941, 272942, 9379844033, Kakinada: Ph: 0884 - 2344491, 2344492,
2349993, 9392333039, Narasaraopet: Ph: 08647 - 223134, 223135, 223136, 223138,
9396272677, Ongole: Ph: 08592 222010, 222011, 222012, 09959022564, Raichur: Ph:
08532 226925, 226926, 226927, 09379059007, Rajahmundry: Ph: 0883-2448635,
2448636, 2448637, 9396418771, Station Road - Kavali: Ph: 08626-244104,5,6,7,
09393239991, Tenali:Ph: 08644 - 220120, 220450, 221860, 221840, Tirupati: Ph: 08924225116, 7, 8, 9, 2220882, 2220884, 2220879, Vijayanagaram: Ph: 08922 - 220163, 4, 5,
09346220829, Vijayawada: Ph: 0866-6647995, 6647998, 09346623964, Visakhapatnam: Ph:
0891 - 2717351, 2717352, 2717353, 09391288980.
BUSINESS ASSOCIATES: Chodavaram: Ph: 08934 245088, 08121742700, 9059909089, Gulbarga: 9448477078, 08472 324613.
GUJARAT
Regional Offices: Ahmedabad: 105, Kaivanna,Opp. Saffron Building,Near Panchvati
Circle , Ellisb,Ambavadi, Ahmedabad., Ph: 079 40024925,926, 09974092324. Email:
[email protected] Baroda: 104, Panorama Complex,R C Dutt Road,Alkapuri,Vadodara 390007., Ph: 0265-2780540, 08511554328. Email: [email protected].
BRANCHES: Ahmedabad - Motera: Ph: 079- 23298586,23298587,23294323,
09377642325, Ahmedabad - Shahibaug: Ph: 079-25626035, 9601263326, 9601267726,
09377625885, Ahmedabad -Ambavadi: Ph: 079-40024925, 079-40024926, 26441410,
26441425, Anand Branch: Ph: 02692-246931, 246934, 246932, 246933, 09375769982,
Bharuch: Ph: 02642-226998/858/807, Jamnagar: Ph: 0288-2553369 , 0288-2553370,
09327069142, Junagadh: Ph: 08128987525, 08128985525,0812898, 9327058147 /
9974092324, Karelibaug - Vadodara: Ph: 0265 - 2780541,2780542,2780543, 8511554328,
Navsari: Ph: 02637 – 233472, 233473, 233474, 233475; 09375769980, Rajkot - Moti Tanki
Chok: Ph: 9375576769, 9724304163, 9724304164, 9724304165, Surat - Empire State
Bldg: Ph: 0261-2343276, 2343182, 3263392, 09327974008, Vadodara - R C Dutt: Ph: 02652324586, 2354326, 2354091, 2351795, Valsad Branch: Ph: 02632 - 245901, 245902,
245904, 09377501506.
BUSINESS ASSOCIATES: Mehsana: 02762-220314, 223594, 220708, 09824434378,
09925938517, Unjha - Visnagar Road: 02767 255022, 09376216600, 09376240210.
Geodata / Vol. 7, Issue: 07 / January, 2015 / Page: 25
KARNATAKA
Regional Offices: Bangalore City: 1st Floor, Rukmani Building, No:788, 9th A
Main,Binnamangala 1st Stage, Indiranagar, Bangalore – 560038. , Ph: 080 – 41162834,
99458 99553, Email: [email protected], Bangalore 2: 1st Floor, Rukmani Building,
No:788, 9th A Main, Binnamangala 1st Stage, Indiranagar, Bangalore – 560038., Ph: 080 –
41162834, Email: [email protected], Hubli: 201-205 , Bhavani Arcade, II Floor, B-Block, 127A New Cottan Market, Hubli-580029., Ph: 0836 2353371, 09901755227, Email: [email protected], Mangalore: IInd Floor, Classique Arcade, K S Rao Road, Mangalore,
Pin - 575001., Ph: 0824-2444531, 2426158, 9972177311, Email: [email protected].
BRANCHES: Bagalkot: Ph: 08354 222557, 222558, 222566, 09341124272, Banashankari:
Ph: 080-26690875, 26690401, 26691241, 9591996180, Bangalore: Ph: 080 40429999,
9341980774, Basavangudi: Ph: 080 - 26676121, 26676181, 09980114690, Bc Road: Ph:
08255 230767, 230768, 230769, 9343350687, Belgaum: Ph: 09342209326, 2402128,
2402131, 2402156, 2422153, 2422154, Bellary: Ph: 08392 - 255393, 255394, 255395,
09342 682887, Bhatkal: Ph: 08385 224062, 224063,226482, 226483, 09741329922, Bijapur: Ph: 08352-242714, 242715, 242716, 240407, 240408, 9343583006, Chickmagalur: Ph:
08262 234892, 234894,233564, 230418,
09343574542, Chitradurga: Ph: 08194223254,223274, 223284, 325050, Davangare: Ph: 08192 253671, 253575, 253576,
09343564474, Dharwad: Ph: 0836 2790031, 2790032, 2790033, Frazer Town: Ph: 080
25564350, 25564351, 25564352, 093412 38420, Gadag: Ph: 09342808978, 274550, 274551,
274552, 252550, 250250, Hal Airport Road: Ph: 080 25231243, 25231286, 25231254,
09341051088, Hassan: Ph: 08172 233609, 233610, 09343 411794, 262498, Hosur: Ph:
04344-246828, 246829, 246830, 244880, 244881, 244882, Hsr Layout: Ph: 080-25723451,
52, 53, 9341225709, Hubli: Ph: 0836 2353371, 2353372, 2353373, Indiranagar: Ph: 080
25252831, 25252832, 25252823, 25252841, Jayanagar: Ph: 080 26530311-317, 26645589,
26645590, 26645591, Koramangala: Ph: 080-25503462, 25500232, 25503273, 41303691,
9343706783, Krishnagiri: Ph: 04343-237186, 237187, 237188, 09345040541, Majestic: Ph:
080 22340067 / 68, 09341114190, Malleswaram: Ph: 080 23360981,23360982, 23360983,
23360984, 32966679, Mangalore: Ph: 0824 2444531, 2426158, 2446024, 2441535,
2441542, Mangalore City: Ph: 0824 2221434, 2221435, 2223881, 2223873, Margao: Ph:
0832 2712696, 2712693, 2736576, 09326112251, Mercara: Ph: 08272 221671, 221672 ,
221673, 329995, 07022255332, Mysore - Saraswathipuram: Ph: 0821-2344816, 2344817,
2344818, 2344819, 09342183451, Mysore - V V Mohalla: Ph: 0821 2516519, 2415050,
2519309, 2517719, Rajaji Nagar: Ph: 080-23109739, 23109745, 09341805767, Rajarajeshwari Nagar: Ph: 09379105292, 28606326, 28606327, Ranebennur: Ph: 08373260851, 260861,
09343107432, Shimoga: Ph: 08182 271905,
271901, 225597,
09343310824, Tumkur: Ph: 0816 - 2285651, 2285652, 2285653, 09379222011, Udupi Town:
Ph: 0820 2527689, 2528689, 2529689, 09740189922, Whitefield: Ph: 0802 8456665,
9663125104, 9663125104.
BUSINESS ASSOCIATES: Ankola: 08388 - 232353, 232255, 232455, 231522, Banashankari Bda Complex: 080 26715410, 26715460, 09379337789, 9972099978, Btm Layout ,
Bangalore: 080 41506462 , 41506463, 098457 30404, Channarayapatna: 09242461911,
09242624222, 09964428384, Gangavati: 08533 234406,
234407, 09916136294,
09916134294, Honavar: 08387 221804, 9341381781, Ilkal: 09901903375, 08351-271494,
Jalahalli Cross: 080 41228351, 40903157, 080 40903149, 09886718394, Jayanagar 9th
Block: 080 41301711,
09845730404, 09343509764, Kammanhalli: 080 41330045,
41330046, 41330048, 41330049, Kengeri Satellite Town: 080 28486202, 9449046005, Kop-
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 26
pal: 08539-231401, 231402, 231202, 9886716394, Kushal Nagar, Manglore: 08276 272756,
274134, 09448108364, Mangalore Town: 0824 3202120 , 2430120, 24288120, Marathahalli: 08064522596, 09342552077, 09341037912,
New Bel Road: 09845244208,
23519633, 23519644, 09243164208, Puttur: 08251-320034, 231285, 09480347539, R T
Nagar: 9342552943, 9845629170, 65302114, 65302115, Sarjapur Road: 080 32416886,
28440711, 28440712, Udupi: 0820 4295656, 4295894, 9845314134, 9916314944,
Vidyaranyapura - Bangalore: 080 23646724, 41626004, 9448052835, Vijayanagar: 080
65307761, 65307554, 23204282, 093410 66950, Yelahanka: 9845904150, 080 28561934,
32928009.
KERALA
Regional Offices: Calicut: 2nd Floor, Fair Mount Tower, Near Rp Mall, Mavoor Road,
Kozhikode -673004. Ph: 0495-2722754, 09995800046, Email: [email protected], Palakkad: 2nd Floor,Lakshmi Gardens,Mathakovil Road,Sultanpet, Palakkad., Ph: 0491 2544576, 254458, 9995800656, Email: [email protected], Thrissur: 2nd Floor,Lakshmi
Gardens,Mathakovil Road,Sultanpet, Palakkad., Ph: 0487 - 2427465, 9995800015, Email:
[email protected], Kochi: Door No.64/5871-F1, 3rd Floor,Ittoops Imperial Trade Center,M G
Road, Ernakulam,682 035., Ph: 0484 2355325, 327, 328, 9995800016, Email:
[email protected], Kottayam: Ground Floor, Unity Buildings,Opp. M D Commercial Centre,K K Road,Kottayam., Ph: 0481 2567646, 9995800013, Email: [email protected], Trivandrum: Corporation Building,Opp. Smv School, Over Bridge,Mg Road,Trivandrum - 1.,
Ph: 0471 2467710, 2467720, 9995800017, Email: [email protected].
BRANCHES: Alapuzha: Ph: 0477 2252605, 2252607, 2264853, 9995800090, Alwaye: Ph:
0484 2630568, 3200898, 2630796, 2621205, 2620445, Anchal: Ph: 0475 2270175, 76,
2270458, 59, 9995800120, Angamaly Branch: Ph: 0484 - 3100498 , 3100480, 9995800142,
Attingal-Trivandrum: Ph: 0470 2622120, 2622130, 2621020, 9995800072, Calicut: Ph:
0495 2722387, 2722388, 9995800089, 2723137, 2723237, 2723969, Calicut Nadakkavu:
Ph: 0495- 2761430,2761431, 2761432, 9995800081, Chalakudy: Ph: 0480 2705048,
2700248, 2709048, 2709095, Changanacherry: Ph: 0481 2429091, 2400294, 9995800084,
Chentrapinni: Ph: 0480 2836980, 2836990, 2836970, 9995800076, Chittur-Palakkad: Ph:
0492 3224591, 3222292, 9995806381, Edapal: Ph: 0494 2689402, 2689404, 9995806385,
Edappally: Ph: 0484-4014281, 282, 283, 9995800049, Erattupetta: Ph: 04822 275993,
275994, 275995, 09995800048, Guruvayoor: Ph: 0487 2551798, 2550238, 2555460,
2557775, 9995800061, Hni Kochi: Ph: 0484- 2380182, 2380189, 2363262, 9995800135, Hni
Trivandrum: Ph: 0471 2539668,69, 9349319516, 9995800034, Infopark - Kochi: Ph: 04844061991, 4061990, 4044237, 9995800051, Irinjalakuda: Ph: 0480 2827734, 2826735,
2829566, 2820111, Kaduthuruthy: Ph: 04829 322800, 801, 284299, 9995800083, Kaloor:
Ph: 0484-4046512,13, 2533416, 2534568, 9995800069, Kaloor Mes Building: Ph: 0484
2405227, 2405229, 9995800425, Kanhangad Branch: Ph: 0467- 2200731, 2200733,
2200735, 9995800952, Kanjirapally: Ph: 04828 - 204912, 204914, 204172, Kannur: Ph:
0497 2712101, 2712102, 2712103, 2761127, 2761276, Kannur - Fortlight: Ph: 0497
2761018,
2768215,
2761514, Kasaragod: Ph: 04994-225245,
225497, 226868,
9995800106, Kattappana: Ph: 04868 274977,274783, 9995800122, Kochi: Ph: 04842355325, 2355327, 2355328, 2350971, 2369074, 2370138, Kolenchery: Ph: 0484 2760090,
2761381, 9995800738, Kollam: Ph: 0474 2745171, 2746552, 2745706, 2764126, 2763618,
2769081-84, Kollam 2 - Chinnakkada: Ph: 0474 2768085, 86, 87, 9995800071, Kottakkal:
Ph: 0483-2741501, 2741502, 2741503, 3203221, 9995800078, Kottayam - K K Road: Ph:
0481 2567646, 2565311, 2301163, 2303548, Kottayam - Nagampadom: Ph: 0481 2561145,
46, 47, 48, 9995800075, Kottiyam: Ph: 0474 2534093, 89, 2534070, 72, Kozhikode: Ph:
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 27
0495 2727944, 2724170, 2720132, 3261013, Mala: Ph: 0480 2897700, 2897701,
9995800077, Malappuram: Ph: 0483-2735880, 2735881, 2735883, 9995800156, Mallappally: Ph: 0469 2681394/98, 2681474, 09995800121, Manjeri: Ph: 0483 2769011, 2769022,
2769033, 9995806538, Mattancherry: Ph: 0484 2227337, 2227388, 2224688, 2224188,
2211391, 2225840 / 9995800063, Muvattupuzha - Branch: Ph: 0485 2835753, 2835795,
2835798, 2835925, 9995800136, Neyyattinkara: Ph: 0471 2220844 , 2220944, 2221044,
Nilambur: Ph: 04931 221041, 221171, 221864, 04, Pala: Ph: 0482 2210471, 2216399,
2211071, 2200026, Palakkad: Ph: 0491 2544576, 2544580, 2544571, 9995800054, Palakkad - Stadium Byepass Road: Ph: 0491 2533312, 2533313, 9995800070, Palarivattom:
Ph: 0484 2334208, 2348111, 2533390, Pathanamthitta: Ph: 0468 2326243, 2326244,
2228486, 2270172, Payyannur Branch: Ph: 04985 201901, 02, 03, 9995800147, Piravom:
Ph: 0485 2243388, 2243988, 9995800041, Ponnani: Ph: 0494-2664907, 2664919, 2666808,
9995800073, Sulthan Bathery: Ph: 04936226175, 9447055452, Talasserry: Ph: 0490
2344511, 2344512, 2344513, 9995800094, Techno Park - Tvm: Ph: 0471 2527635, 636,
9995800068, Thamarasseri: Ph: 0495 2225425, 26, 27, 9995800117, Thiruvalla: Ph: 0469
2604455, 2634425, 3206887, 2607305, 2636051, Thiruvananthapuram: Ph: 0471 2467710,
2467720, 2467730, 2467726, 2466584, Thrissur - Punkunnam: Ph: 0487 2385072, 74, 76,
9995800099, Thrissur - Round North: Ph: 0487-2322828, 2322826, 9995800082, Thrissur Round South: Ph: 0487-2427454 - 459, 2429810, 2429811, 2427465, 2427466, 2430016-19,
2427458, Trissur - Kokkalai: Ph: 0487-2442803, 2442804, 2442805, 2442806, 2440923,
2440973, 2423141, Trivandrum Karamana: Ph: 0471 2348165, 66, 67, 69, 9995800141,
Vadakencherry: Ph: 04922 254249, 254250, 254251, 9995800151, Varkala: Ph: 047
2611706, 2611709, 9995800067, Vatakara Branch: Ph: 0496-2515783/84, 9995800625,
Vytilla: Ph: 0484 2306036, 2306049, 2307774, 2302142.
BUSINESS ASSOCIATES: Adoor: 04734 220940/226307, 9447560081, Angamaly Church Junction: 0484 – 2456777, 2457444, Athirampuzha: 0481 2730198, 2730399,
9995512688, Bank Junction - Aluva: 0484 2620962, 9447578610, Calicut - Malabar Gate:
0495 - 4050918/ 4060461, 9895779945, 9895668182, Chavakkad: 0487 - 2502000,
3264211, Chengannur: 0479 2457545, 3295001, 9447971343, 9447722456, Cherpu: 0487
2343494, 2343502, 9446542494, Cherpulassery-Trichur: 0466 2284054, 2284550, 94473
80233, 9447939434, Cherthala: 0478 2811877, 9447089891, Cherupuzha: 04985 240145,
240132, 9495097923, Civil Station
Calicut: 0495-2371116, 3253303, 9249122799,
Elamakkara: 0484 - 2340869, 2340969, 9497668001, Eranakulam - Kadavanthara: 0484
2324366, 9496305566, Ettumanur: 04812531924, 2531925, 9142051267, Haripad: 0479
2410960, 2410961, 9645090257, Iritty: 0490 2494522, 2494523, 9447721122, 9447290050,
Kakkanad: 0484 2428353, 2428354, 9447125354, Kalamassery: 9995824886,
9744793339 , 9895013589, Kalpetta: 04936 204670, 205452, 205771, 09495318552, Kanhangad: 0467 2209322, 2209625, 2207878, 2207910, 9447086822, 8089709100, Kannur
Town: 0497 2701570, 2938072, 9400501570, 9656107789, 9446337789, 9961006789, Karukachal: 0481 2486529, 9447087229, 9446516529, Karunagappally: 0476 2622192,
9072527722, Kizhakkambalam: 0484 2684632, 2684628, 9446062562, Kodakara:
9072741633, Kodungallur: 0480 2808298, 2808299, 9447259640, Konny: 0468 2340701,
3290368, 2248883, 9447074708, Koonammavu: 0484 2512919, 6512919, 9567652919,
9446135128, Koothattukulam: 0485 2250461, 2881272, 9745050642, Kothamangalam:
0485 2824023, 2828874, 2827401, 9447267063, 9809887775, Kottarakara: 0474 2452166,
2450244, 2450535, Koyilandy: 0496 2620099, 8086161216, Kozhencherry: 0468 2210083 ,
2213633 , 2210641, 9847314385 9446755285, Kumbanad: 0469 2663474, 9387337413,
Kundara: 9446592086, 0474 3255662, 663, Kunnamangalam: 9447884689, 9539278207,
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 28
0495 2803135, Kunnamkulam-Harvest: 04885- 210762, 210412, 04885-210449, 04885655505, 04885-655506, Kurisumood: 0481 2728034, 2728033, 2728035, 09447087229,
Manarcad - Kottayam: 0481 2371267, 9946832777, Manjapra: 0484 2692544, 9446128473,
Mannarkkad: 04924-225556, 225656, 9745005638, 9745006238, Mavelikara: 04792340353, 3291522, 9447971343, Mukkam: 0495 3159877,
2298467, 9846297894,
Muvatupuzha: 0485-2833501, 2834026, 2832269, 9847221711, Nedumangad: 0472
2814433, 9142398871, 09447441977, Nemmara: 04923 244220, 04923 244340,
9496838029, 9847263902, North Irinjalakuda: 0480 3259370, 0480 2825031, North Paravur: 0484 3290887, 3260887, 4062023, 9349124767, Ottappalam: 0466 - 2247702,
2247703, 2249554, 2249664, Palakkad Jrs: 0491 2533125, 2533126, 2533127, 2104027,
2104028, 2104029, Panampilly Nagar: 0484 2317887, 2317888, 9544700210, Pandalam:
9495823023, 9745648110, Pathanapuram: 0475 2353553, 2355423, 2353598, Pattam:
0471-2545521, 2545523, 9447427427, Pattambi: 0466 2212640 , 2212641, 2211536,
2211537, 9846060299, Payyannur: 04985 201922, 201933,201122, 9447781122, Perinthalmanna: 04933 227975, 325075, 9446767004, 9446767005, 9249901122, Perumbavoor:
0484-2590689 , 3200097 , 3254494, 9447433316, Pothanicad: 0485-2562856, 8547502856,
9048088267, Punalur: 0475 2227556, 8547879132, Quilon Ashramam: 9349835356,
9895773259, Ravipuram: 0484-2364172,2364271, 4028267, 9847273381, Shornur: 00910466-2222595, 9846030269, Thaliparamba: 0460 2204632, 2208794, 2204357,
09249992448, Thaliparamba Bazar: 0460 2204437, 9846994444, Thodupuzha: 0486
2225263, 2229561, 2229562, 2227232, Thriprayar: 0487 2394545, 3242535, 9567699419,
Thrissur - Kuriachira: 0487 2252307, 9895711663, Thrissur - M.G.Road: 0487-3291054,
09895201385, Thrissur - Pallikulam Road: 0487 2440457, 3254514, 9847946972, Thrissur
Ambaloor: 0480-2757226, 2757227, 32911, 9387828851, Thrissur- East Fort: 0484
2426507, 9446576505, Thrissur Harvest: 0487 6555502, 6555503, 6555504, 2330071,
2330072, 2330496, Tirur: 0494 2431943, 9995894699, 0494 2420414, 2420124, Tripunithura: 0484 2778828, 6519157, 94470 83130, 94477 08726, Trivandrum - Kumarapuram:
0471 4064164, 8606168833, 8606005722, 8606005733, 8606005755, Trivandrum - Sasthamangalam: 0471 3010405, 3010406, 9946996002, Trivandrum, East Thampanoor: 0471
4060329, 3021229, 7293786987, 9633200329, Vadanappilly: 0487 2604321, 2601116,
2604737, 9447411301, 04829 223674, 9447011244, Valanchery - Kozhikode: 0494
2640890, 2646010, 9995894969, Vatakara: 0496 2513241, 2523496, Vazhakkala: 0484
2428599, 2428799, 2108178, 4059740, 9995855786, Vengara: 0494 3215353, 9995894599,
Wadakanchery: 04884 232250, 329450, 236050, 954884232250.
MADHYA PRADESH
Regional Offices: Indore: 63-C, Rajat Jayanti Complex,Scheme No.54,Vijay Nagar,Indore 452010. Ph: 0731-4020889, 890, 2571104, 09893129906, Email: [email protected].
BRANCHES: Bhopal: Ph: 09981500822, 4083979, 4083973, 4083655, Indore - Sapna
Sangeeta: Ph: 0731 2572204 , 2571104, 4020889 , 4020890, Indore - Y N Road: Ph: 07312547224, 2547225, 09893026647, 09301999010, 4245318, 4249021, Jabalpur: Ph: 07612481002, 2481003, 09301403266, Rewa: Ph: 07662- 254166, 254167, 254168,
09303439311, Sagar - Civil Lines
(Mp): Ph: 0758 2227405, 2227406, 2227407,
09302767146, Ujjain: Ph: 0734 - 4071528, 4061853, 4061674.
BUSINESS ASSOCIATES: Khandwa: 0733 - 4000222, 3290222, 2223822, 9425326222,
9685036222.
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 29
MAHARASHTRA
Regional Offices: Mumbai - I: 101-102, Ground Floor,Monalisa Chs, Opp Hotel Vrinda, Hariniwas Circle, Thane(West) - 400 602. Ph: 09960092603, Email: [email protected]. Mumbai II: Yashodham Shopping Centre, Next To Karmarkar Health Spa, Behind Hdfc Bank,
Filmcity Road, Dindoshi, Goregaon East, Mumbai. Ph: 022-28425849, 09987263861, Email:
[email protected], Nasik: 101 & 102, Padma Vishwa Centre, 2 Floor, Next To Raymond
Showrm, Off Sharanpur Road, Old Pandit Colony, Nasik., Ph: 09860627194, Email: [email protected], Pune: 1187/21,Ghole Road, 201, Butte Partil Vertex, IInd Floor, Next To
ICICI Bank, Shivaji Nagar, Pune 411 005., Ph: 020 25533136, 25532582, 583, 09867306686,
Email: [email protected].
BRANCHES: Ahmednagar: Ph: 0241 2452360, 2452362, 2452363, 2452364, 09373777512,
Andheri East: Ph: 09323104455, 30082222, 23, 24, 25, 26, 27, 28, 29, Andheri West: Ph:
022 26239300, 26200188, 26200154, 09323814937, Aurangabad: Ph: 0240- 2350390,
2350391, 2350392, 9326261100, Bandra: Ph: 022-26465144, 26465145, 26465146, Borivili:
Ph: 022-28989161, 62, 63, 64 & 65, 09322302142, Chembur: Ph: 022-25253027, 25251072,
25250082, 25251067, 25257449, 25256188, 08452048069, Dadar - Prabhadevi: Ph: 022
24384816, 24382909, 24383198, 09322302145, Dhule: Ph: 02562-222284, 02562-222484,
09325420025, Fort Mumbai: Ph: 022-66368911, 66368912, 09323814935, Ghatkopar West: Ph: 022 – 25117632, 33, 34, 35, 36, Goregaon: Ph: 022 - 28425880, 28423455,
28428548, 9322880135, Jalgaon Branch: Ph: 0257 2237656, 2237657, 2237658,
09373566711, Jalna: Ph: 02482 230754, 230755, 230756, 9325420033, Kalyan - Dombivili:
Ph: 0251 2863446, 2863465, 2862866, 2863206, Kandivali East: Ph: 022-28460200,
28460204, 28846106, Kandivili West: Ph: 022-65287630, 65287631, 65287633,
09321856200, Karad: Ph: 02164 229733, 229734, 229735, 09373449004, Kolhapur: Ph:
0231 - 2520763, 2520793, 94, 2520974, 09370329889, Mulund: Ph: 022 25927316,
25920563, 09322302146, 25905029, Mumbai: Ph: 022 26193813 / 26193823 / 26100435,
09322660241, Mumbai-Powai: Ph: 022 25717107, 25717108, 093223 02144, Nagpur: Ph:
0712 6559714, 6587784, 09325030210, Nanded: Ph: 02462 - 245546, 245547,
09325008359, Nasik: Ph: 0253-2575505, 2575506, 2580116, 2580245, Nasik Road: Ph:
0253-2453657, 2453658, 9325276699, Nerul: Ph: 022 27700559, 27700569, 27700579,
09320822655, Pune Camp: Ph: 020-26332985, 26332986, 26332987, 9325503023, Pune
Chinchwad: Ph: 020 - 27442281, 27442282, 27442283, 9373777121, Pune Deccan: Ph: 020
-25533136, 25532582, 25532583, Pune Marketyard: Ph: 020 - 24261556, 24261564,
09372633033, Ratnagiri: Ph: 02352 271104, 271105, 271106, 271107, 09373466064, Sangli: Ph: 0233-2326281, 2326282, 83, 09326651235, Satara: Ph: 02162 228161,228162,
228163, 228164, Sholapur: Ph: 0217-2316479, 2316303, 9370009957, Sion: Ph: 022
24042010, 24042011, 24042012, Thane: Ph: 022 – 25438882, 25437974, 25422190,
25422191, 25454510, 25392112, 25392127, Ulhasnagar: Ph: 0251-2560763, 2560752,
2560768, 9324966198, Vashi: Ph: 022-67911596, 67911597, 67911598, 09323814936,
Zaveri Bazar: Ph: 022-22095001, 22095003, 22095004, 22093001, 22093002.
BUSINESS ASSOCIATES: Diamond Garden - Chembur: 022 25247021, 65764414,
32689546, 25297518, 09820290855, Kolhapur City: 0231 2667030, 2667040, 2667050,
2667041, 2667051, 9326630060, Malad: 022 28822132, 28822142, 28822138, 28818812,
28818813, 09323108856, Thane West: 093239 59119, 022 25308077, 25308766, 25862810.
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 30
NEW DELHI
Regional Offices: Delhi: 13 A, Pratap Nagar,Ashok Plaza,Near Jeewan Anmol Hospital,Mayur Vihar Phase - 1, New Delhi - 110091., Ph: 011 22753943, 9958098298, Email: [email protected].
BRANCHES: Connaught Place: Ph: 011-43598491, 43598492, 43598493, 43598496,
9311725989, Dehradun - Branch: Ph: 0135 2711859, 2711854, 2650816, 09760343456,
Faridabad: Ph: 0129-4142250, 4142251, 4142252, 09312199172, Ghaziabad - Rdc Raj
Nagar: Ph: 0120-2820430, 2820423, 09560871444, Gurgaon: Ph: 0124-4105747, 4257712,
2566240, 2566239, 09350178338, Indirapuram: Ph: 0120-4159950, 4159951, 4159952,
09313653445, Janakpuri: Ph: 9958599262, 45508971, 45508972, 45508973, Kondli: Ph:
011 22610450, 22610451, 22610453, 22610452, 09310491138, Mayur Vihar: Ph: 01145160313, 43073612, 43073613, 43073614, 43073615, 22753936, 48, 52, 43, Meerut: Ph:
0121-4032101, 4032102,
4032103, 09368292488, Nehru Place: Ph: 011- 46507571,
46507572, 46507573, 09311722844, New Delhi: Ph: 011-26160081, 26160082, 26160083,
26160084, Noida - Branch: Ph: 0120-4208590, 4208591, 4208592, 4340744, 4340745,
09958698298, Pitampura: Ph: 011-27352730, 27352731, 27352733, 09350344499, Vaishali:
Ph: 0120-4162545, 4162546, 4162547, 4162548, 4162549.
BUSINESS ASSOCIATES: Lajpat Nagar: 011-46504139, 32682650, Old Delhi: 01132466655, 23827408, South Delhi: 011-26935001, 42603017, 42603033.
ORISSA
Regional Offices: Bhubaneshwar: Center Point, 501/1741/1846, Mouza Kharvela Nagar,
Bhubaneswar - 751 001., Ph: 09937501999, Email: [email protected].
BRANCHES: Berhampur: Ph: 0680 2221094, 2221093, 2221092, 09338437956, Bhubaneshwar - Janpath: Ph: 0674 2515551, 2516661, 2380940, 09337001821, Cuttack: Ph:
0671-2314500, 2314501, 2314502, 09583625732, Rourkela: Ph: 0661 2500099, 2500089,
2500059, Sambalpur: Ph: 0663 - 2541669, 2540189, 2541860, 2541830, 09337017219.
PUNJAB
Regional Offices: Punjab: 1st Floor, Showroom No.5, Feroze Gandhi Market, Ludhiana.,
Ph: 09779080248, Email: [email protected].
BRANCHES: Amritsar: Ph: 0183-5002901, 5002902, 5002904, 5002910, 9317550333, Bhatinda: Ph: 0164-2237147, 48, 50, 51, 09357705566, Chandigarh: Ph: 0172-5046120,
5046121, 5046122, 5046123, 5046124, 5046125, 5046126, 5046127, Jalandhar: Ph: 01815030040, 5030041, 5030042, 5030043, 5030044, 5030045, 5030046, Jammu: Ph:
01912474164, Ludhiana: Ph: 09317772226, 5099224, 5099233, 5099237, Patiala: Ph: 0175
-5008601, 5008602, 5008603, 5008604, 5008605, 5008606.
RAJASTHAN
Regional Offices: Jaipur: 304-305, 3rd Floor, Brij Anukampa, Ashok Marg, C-Scheme, Jaipur. Ph: 9928704460, Email: [email protected].
BRANCHES: Ajmer: Ph: 0145-2633376, 2633377, 09928599280, Bhilwara: Ph:
09928599281, 242643, 242644, 242645, Bikaner: Ph: 0151-2530611, 2530612, 2530613,
2530614, 09351076771, Jaipur: Ph: 0141 4011801, 4011802, 4011803, 09352162774,
Jodhpur: Ph: 0291-2770450, 2770451, 2770452, 2770453, 09351517114, Kota: Ph: 07445100460-61, 9001433999, Sikar: Ph: 0157-2271234, 251065,66, 9950330666, Udaipur: Ph:
0294-2421485, 2421486, 2421487.
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 31
TAMIL NADU
Regional Offices: South Chennai:
No.C-53, 1st Avenue,Chintamani,Anna Nagar
East,Chennai-600 102., Ph: 044 26193932,33,34, 09952988844, Email: [email protected],
North Chennai: No.493 "New Liberty House",Mint Street,Second
Floor,Sowcarpet, Chennai,600079., Ph: 044 25205358,65, 09003019668, Email:
[email protected],
Central
Chennai:
No.1,44th
Street,Ashok
Nagar,Chennai,Chennai - 600083., Ph: 044 24745374, 09952988866', Email: [email protected],
Coimbatore: Door No.1023, 2nd Floor,R G
Chambers,Avanashi
Road,Coimbatore - 641 018., Ph: 0422 -2221943, 09952423240, Email: [email protected],
Madurai: Hig 38, Jeyam Towers,3rd Floor 80 Feet Road,Annanagar,Madurai - 625020.,
Ph: 0452 - 2521036, 2521037, 09952423242, Email: [email protected], Trichy: 30/1g, Royal
City Complex,First Floor,V.N. Nagar,Karur Bye Pass Road,Chathiram Bus Stand, Trichy., Ph:
0431 2710627, 09952423241, Email: [email protected].
BRANCHES: Adayar: Ph: 044 24422890, 24422891, 24422893, 42054296, 42054297, Anna Nagar: Ph: 044 - 26193932 - 36, 9382140258, Anna Nagar - Madurai: Ph: 0452 2521036, 2521037, 2521038, 2521039, Ashok Nagar: Ph: 044 23701025, 23701068,
23701217, 09382119005, Avadi: Ph: 044-26375382, 26375391, 26375394, 9382877712,
29035441, Blue Star Anna Nagar: Ph: 04426161580,79,78,77, 09381388980, Chengelpet:
Ph: 044 27429894, 27429895, 27429896, 09381446444, Chennai - T Nagar: Ph: 044
24353930, 24353931, 24353933, 42033891, Chidambaram: Ph: 04144-225158, 223060,
223071, 9366672555, Coimbatore: Ph: 0422 2222005, 2220718, 2222115, 4351295,
Coonoor: Ph: 0423 2232572, 2221847, Devakottai: Ph: 09364270444, Dharmapuri, Coimbatore: Ph: 04342-267411, 267412, 267413, 9345297659, Dindigal: Ph: 0451 2434871,
2434971, 2434870, 2434972, 093602 25463, Egmore: Ph: 044 28194015/ 28194016/
28194017, 09382118409, Erode: Ph: 0424 2241144, 2241155, 2241119, 2264994, 2214470,
2214480, 22144, Erode Brough Road - Coimbatore: Ph: 09345298225, 2266007,
2266008, George Town: Ph: 044 25354564,
25354565,
25354566,
25354567,
09382118999, Gobichettipalayam: Ph: 04285-227242, 227243, 227245, 9363211161, Guindy: Ph: 044 22201655, 22201656, 22201657, 09381470005, Hni Chennai: Ph: 04442849595, 42849596, 28364435, 28364436, Kanchipuram: Ph: 044 27231315, 27231316,
27231317, 09363307787, Karur: Ph: 04324 - 260965, 260966, 260241, 260739, 324001,
Karur 2: Ph: 04324 233993, 233994, 04324 234993, 234999, Karur 3: Ph: 4324 231991,
231992, 231994, 09344001767, Kumbakonam: Ph: 0435 - 2400953, 2400954, 2403094, M
C Road - Royapuram: Ph: 044-25955282 , 91, 42872879, 08144062710, Madurai -K K Nagar: Ph: 0452- 2584611, 2584612, 2584613, 4394715, 4394615, 4393615, Marthandam: Ph:
04651-273735, 273775, 272733, Mayiladuthurai: Ph: 04364 222036, 86, 96, 227177,
9344022825, Metha Nagar - Nelson Manickam Road: Ph: 044-23745100, 23745101,
23745102, 093602 18188, Mettuppalayam: Ph: 04254 225725, 225677, 225645, 225669,
09364638999, Mettur: Ph: 04298 223995, 223996, 223997, 223614, 09364363642, Mint
Street - Sowcarpet: Ph: 044 25205358-64 , 25205311, 25205312, 09840013165, Nagercoil
Branch: Ph: 04652 234425, 234426,
320922, 09360314712, Namakkal Branch: Ph:
04286 274205,
274206,
274207, 09361829444, Nellore: Ph: 0861-2311697,
2311712/735/736, 9347112168, Neyveli: Ph: 09344986500, 251060, 251061, 251062, Nunganbakkam: Ph: 044 28211056, 28211058, 93853 44449, Perambur: Ph: 044 25518831,
25518832, 09363134311, Pudukkottai: Ph: 04322-228920, 228922, 228927, 320300,
9345297774, R.A Puram, Chennai: Ph: 044 24987088, 24987078, 09381 101190, Rajapalayam: Ph: 04563 223105, 6, 7, 09344045225, Ramanathapuram: Ph: 0422- 2310656,
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 32
2310671, 2317765, 9363262776, Ramnagar: Ph: 0422 2234319, 2234321, 2236576,
2236577, Salem: Ph: 0427 - 2336801, 2336802, 2336803, 2336804, 9362123621, Sivakasi:
Ph: 04562-227161, 227162, 227163, 9363344401, Srirengam-Trichy: Ph: 0431 2437006,
2437007, 2437008, T.Nagar: Ph: 044-28344923, 28344924, 09381064724, Thanjavur: Ph:
04362-274989, 274992, 274993, Theni: Ph: 04546 -250561, 250859, 250285, Thiruvallur:
Ph: 09380001017, 27662577, 27662522, Tiruchenkode: Ph: 04288-250057, 250067,250072,
09344007686, Tirunelveli: Ph: 0462 - 2503306, 07, 09367165858, Tiruvannamalai: Ph:
04175 251067, 251068, 09345175688, Tnagar Usman Road: Ph: 044 24352070, 71, 72,
09382358163, Town Hall - Coimbatore: Ph: 0422 - 2301457, 2301458, 09363109486,
Trichy: Ph: 0431-2767521, 2766621, 2766276, 3299014, 09345124915, Trichy 2: Ph: 04312710627, 2710637, 2710647, 09360179991, Trichy 3 - Cantonment: Ph: 0431-2414115,
2414116, 9363284848, Vadapalani: Ph: 044 23652234,
23652235,
23652238,
09380502631, Velachery - South Chennai: Ph: 044 22440755, 22440756, 22440239,
22450236, 22440317, 9380540446, Vellore: Ph: 0416 2256133, 33 ,9360322191, Vepery:
Ph: 044 - 26411430, 26411431, 26411432, Villupuram: Ph: 04146-250017, 250027, 251262,
9382885565, Virudhunagar: Ph: 04562 -246611, 246612, 246613, 246614, 9345223737.
BUSINESS ASSOCIATES: Adambakkam: 9500005802, 044 - 22600231, 43580069, Ambattur: 044 - 42086962, 42086963, 09444419205, Annanagar-West: 044 26567483, 26567484,
09788512772, Besant Nagar: 044 24917714, 24917715,
27150969, Bhavani: 04256234035, 235137, 9788775557, Madurai Bye Pass: 0452 4353612, 4353613, 3208861,
08807216311, Madurai East: 0452 4379861, 09344109861, Muthiapuram,Tuticorin: 04612356336, 2357074, Mylapore: 044 42074441, 42088275, 42088274,
09940085959,
Nanganallur: 044 22249943, 22249944, 43588446, 8012760119, Parrys: 044 25250070,
25249924, 25242922, 09940673388, Pondichery: 0413 4205253, 6537730, 4205252,
09443050592, Purusawalkam Chennai: 044 42051118, 09840792535, Tambaram West:
044 - 22262544, 45030123, 9380515113, 9382251100, Tirunelvelli,Palayamcottai: 04622572111, 2572555, 09443193467, Tirupur: 0421 6549646, 2224660, 4324049,
09363056711, 09363036523, 09363020602, Tuticorin: 0461-2339138, 2339139, 4009137,
09363319837, 9894806936, Washermanpet: 98400 29077, 98407 10281, West Mambalam:
044-42614182, 42614183, 42614184, 98413 90655.
TELANGANA
Regional Offices: Hyderabad: 1st Floor, N V K Towers, No.3-6-272, Himayat Nagar, Hyderabad
500029, Andhra Pradesh., Ph: 040-23220318/327/359, 09959022561,
Email:[email protected], Secunderabad: H No:1-8-215/12,PNo 142/11&12, Pender
Ghast Road, Paradise, Secunderabad - 500003., Ph: 04027811016, 09000258444, Email:
[email protected].
BRANCHES: A S Rao Nagar - Hyderabad: Ph: 09391055688, 27132872, 27132873,
27132874, Ameerpet - Hyderabad: Ph: 040 23414686, 23414687, 23414689, 09959022567,
Ananthapur - Branch: Ph: 08554-274507, 274508, 274509, 09393222966, Banjara Hills: Ph:
040 23391418, 23391419, 23391420, 23370117, Begum Bazar: Ph: 040 - 24650438,
24650439, 24650609, Dilsukh Nagar: Ph: 040 - 23447691, 23447692, 23447693, 093466
23769,23447692, 23447693, Habsiguda: Ph: 040 40165414, 40165415, 9392988880,
Hitech City - Hyderabad: Ph: 040 - 23115026, 23114826, 23114821, Hyderabad - Himayat
Nagar: Ph: 091-040-23220316, 23220318, 09399 999900, 23220329, 23220327, Kadapa:
Ph: 08562-245773, 245774, 245775, 245776, Karimnagar - Hyderabad: Ph: 0878-3207800,
2234073, 2234074, 2233073, 2233074, Khammam: Ph: 08742-222240, 222250, 222260,
09393223424, Kukatpally Branch: Ph: 040-66665291, 92 , 93, 09346212326, Kurnool
Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 33
Branch: Ph: 08518228831, 8228832, 8228833, Mahbub Nagar: Ph: 08542 221256, 221257,
221363, 07673959992, Mehdipatanam: Ph: 09395121751, 23521740, 23521750, 23521751,
Nandyal: Ph: 08514-225987, 88, 89, Nizamabad: Ph: 9392517766, 220009, 220016,
220030, P G Road Secunderabad - Branch: Ph: 040-27892465, 27892466, 27892467,
27892468, Santhosh Nagar Branch: Ph: 040-24532981, 24532982, 24532973, 24532974,
09347616868, Warangal - Hyderabad: Ph: 0870 2447145, 2447146, 2447147,
09959022566.
UTTAR PRADESH
Regional Offices: Lucknow: 1a, 1st Floor, City Centre, Sapru Marg, Adjacent Hotel
Gomti, Lucknow., Ph: 09956295255, Email: [email protected].
BRANCHES: Agra: Ph: 0562-2525916, 2525875, 2528873, Allahabad: Ph: 0532-2260473,
2260474, 09956295252, Bareilly: Ph: 0581-2510663, 2510664, 2510876, 09956295253,
Gorakhpur: Ph: 0551-2204616, 2204628, 09956295258, Kanpur - Branch: Ph: 0512 3930500, 3930501, 3930502, 2332876, 09956295257, Lucknow - Branch: Ph: 05222629824,2629826, 2629827, Moradabad: Ph: +91 591 2410350, +91 591 2410380, Varanasi: Ph: 0542 - 2222828, 2222829, 2222830, 2222831, 09307449199.
WEST BENGAL
Regional Offices: Kolkata: 24-B, Shakespear Sarani, Kolkata, 700017., Ph: 033 22892783,
09007090081, Email: [email protected]
BRANCHES: Asansol: Ph: 09332208162, 222 014, 222 0148, 222 0149, 222 0150, Barasat:
Ph:
033
25241657,
25241658,
09333874734,
Behala:
Ph:
033-24075054,
24075055,09831891583, Camac Street, Kolkata: Ph: 033 22892784,22892784, 22892785,
228927846, 22892787, Dhanbad: Ph: 0326-2302405, 2406, 2407, 09304127514, Gariahat:
Ph: 033 24669641, 24669642, 09330930844, Jamshedpur: Ph: 0657- 2442985, 2233734,
2442983, 2442984, 09386708146, Princep Street: Ph: 033-40647868, 09339308800, Ranchi: Ph: 0651-2331401, 2331403, 2331304, 09234611160, Tegoria: Ph: 033-40647873,
40647874, 09831891765.
General Disclosures and Disclaimers
This report has been prepared by Geojit BNP Paribas Financial Services Limited (GBNPP), here in after referred to as GBNPP. GBNPP, a publically listed company, is
engaged in services of retail broking, credit, portfolio management and marketing investment products including mutual funds, life and general insurance and properties. This
report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained
herein is from publicly available data or other sources believed to be reliable, but we do not represent that it is accurate or complete and it should not be relied on as such. We
have also reviewed the research report for any untrue statements of material facts or any false or misleading information. GBNPP shall not be in any way responsible for any
loss or damage that may arise to any person from any inadvertent error in the information contained in this report. This report is provided for assistance only and is not
intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this
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GBNPP, Research analysts, persons reporting to research analysts and their relatives may have actual/beneficial ownership of 1% or more in the subject company’s
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Geodata / Vol. 7, Issue: 07/ January, 2015 / Page : 34
ANDHRA PRADESH
REGIONAL OFFICES: HYDERABAD: 1st Floor, N V K Towers, No.3-6-272, Himayat Nagar, Hyderabad
500029, Ph: 040 23220316/29, E-mal:[email protected], SECUNDERABAD : H No:1-8-215/12,P No
142/11&12, Pender Ghast Road,Paradise, Secunderabad - 500 003, Ph: 040 - 27892466/67/68 , Mob.:
9000258444, [email protected] , VIJAYAWADA: Door No. 39-3-1, 5th Floor, Anjanaya Jewellery Bldg,
Venkateswara Puram, MG Road, Labbipet, Vijayawada - 520 010Ph: 0866 6648995/6647995/98, 9346623964,
[email protected] , VISAKHAPATNAM: Door No.47-11-18/7, 1st Floor, G K Towers, Dwarakanagar Main
Road, Visakhapatnam - 530 016. Tel: 0891 2717351/52, Mob: 7702454949, [email protected]
BRANCHES: A S Rao Nagar (RX) : Ph: 040-27132872 / 73 / 74,40173147, 9393760980, AmeerpetHyderabad (GH): Ph: 040-23414686 / 687, 9959022567, Anakapalli Main Road (ACB): Ph: 08924
225117/118 ,09393925960, Ananthapur (AU):Ph: 08554-74507, Banjara hills (JH):Ph: 040-23391418 / 19 /
20, 9346571117, Chittor – Andhra Pradesh (HR): Ph: 08572-233971/72, 9396503632, Begum Bazar(BZ): Ph:
040 - 24650438/39 / 24650609, Bhimavaram(HI):Ph: 08816 221014 / 15 / 16, Chirala(LA): Ph: 08594
233627/8/9, Dilsukh Nagar (DN):Ph:040-23447691/92/93/94, Gajuwaka Main Road (ACD): Ph: 8912549347,
9393925961, Governorpet (ZL):Ph: 0866 - 2578084,2578086,2578087, 09346841411, Guntur(HG): Ph: 08632331063/64/65, Habsiguda (ZH): Ph: 040-27177272, 40165414 / 15 / 16, 9392988880, Hyderabad – Himayat
Nagar (HH) : Ph: 040 23220316/318, Hitech City - Hyderabad (YH): Ph: 040 – 23115026, Kadapa (VJ):Ph:
08562 245776, 9393199499, Kakinada (XK):Ph: 0884-2344491/92, Karim Nagar (NI): Ph: 0878-2233073/74,
2234073/74, 9347902061, Khammam (UH): Ph: 08742 – 222240 / 60, 9393223424, Kukatpally (AAK) :Ph040
66665291/92/93, Mob: 9346212326, Kurnool Branch (AAZ) : Ph: 08518-228831 / 32 /33, Mahabubnagar
(UX):Ph: 08542-221256 / 57,221363/64, 917673959992, Mehdipatanam(HF): Ph:040-23521740/50/51, Miriyalguda (AAA) : Ph: 08689-231155/56/57/58, 9393703322, Nandyal (ABN) : Ph: 08154-225987/88/89,
9346682244, Narasaraopet(XN):Ph:08647-223134/35/36/38, Nellore(NA): Ph: 0861–2311697/712/735/736,
2307218/248, 9347112168, Nizamabad(ZN): Ph: 08462 – 220009/ 16 / 30, 9392517766, Ongole (OE):Ph:
08592 222010/011/012, P.G.Road(JG ):Ph: 040-27892465/66/67,68,9346581118, Rajahmundry(JU): Ph:
0883 – 2448635/36/ 37, Santhosh Nagar (SN): Ph: 040-24532981/82,040-2453973/74, Station Road – Kavali
(ABX): Ph: 08626-244104/5/6/7, 09393239991, Tenali(QT): Ph.08644-220120/450/221860/840, Tirupati(TQ):
Ph: 0877 – 2220879 / 882/884, Vanasthalipuram (VQ): Ph: 040 24123000,24123400,24123500,24123600,
Vijayanagaram (YV) : Ph: 08922-220163/4/5, Vijayawada (HV): Ph: 0866 6647995/998, Vishakapatnam(VS):
Ph: 0891-6626685 / 86 / 87, Warangal (HW) : Ph0870-2447145 / 46 / 47, 9959022566
BUSINESS ASSOCIATES : Chodavaram (APL) : Ph: 08934 245088, 08121742700, 9059909089
PUNJAB
Chandigarh (YC):Ph: 0172 5046120 / 5046121
GOA
Margao (MO):Ph: 0832 2712696/ 693, 589
GUJARAT
REGIONAL OFFICE: AHMEDABAD : 104, Kaivanna, Opp. Saffron Building, Nr. Panchvati, Ambavadi, Ahmedabad 380006, Ph: 079 40024927 Vadodara: FF, 46 Nikunj Avenue, Suvas Colony, Besides Convent School,
FathegunjVadodara. Ph0265-2780540.
BRANCHES: Ahmedabad Ambawadi (AA): Ph: 079 26441425/1410/40024925/26/27/28, 9327974007, Anand
Branch (ZI):Ph: 02692 – 246931/2/3/4, Bharuch(FH):Ph: 02642 226998/858/807, Jamnagar (JZ): Ph: 0288
2553369/70/71, 9327069142, Junagadh (JX) : Ph: 08128985525,02852670286, 02852670386, 9327058147,
Karelibaug (LF) : Ph: 0265- 2780541 / 42 / 43, Motera - Ahmedabad (OH):Ph: 0972 4326793/94 , 0792