Investing_in_Commodity:_Basics_Every_New_Investor_Should_Know

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Earlier in 2023, farmers expressed their agitation against SEBI’s extension of the trading ban placed on derivates of seven Agri commodities. SEBI claimed that this was an attempt to curb an unregulated price increase of agricultural products whereas the farmers’ argument was backed by various studies to show that trading on exchanges does not have a significant on prices. The farmers believe that a futures market supports price discovery of the commodities which helps them immensely. Farmer co-operative societies also leverage trading and hedging to secure their financial interests. Read more about the agri trading ban here.

Now, let’s take a step back and understand what commodities are and how commodity trading works. Commodity trading has been an interesting way to diversify the portfolio and go beyond traditional investments in securities. A commodities market is essentially driven by the principles of demand and supply.

This article will cover everything you need to know about investing in Indian commodities and empower you to make financially prudent choices.

So, what even are commodities?

What is a Commodity?

A commodity refers to a raw material or any standardised resource carrying an underlying value. These raw materials and resources are used to produce the final product. Two items will be categorised as the same commodity if they are substantially uniform, even if their origin or producer differ or have minor changes in quality. For example, wheat is a uniform commodity regardless of its place of origin.

Commodities can be bought and sold directly or traded as derivates through a commodity exchange. They are classified into two categories: soft commodities and hard commodities.

Soft commodities are typically grown like agricultural products. They include plant products as well as crops. Some of the vastly traded soft commodities are coffee, wheat, corn, cocoa, and sugar. Livestock and meat that are fed for consumption are also considered to be soft commodities.

Hard commodities are obtained by mining or drilling. All metals are hard commodities. These include precious metals like gold and silver. Industrial metals like aluminium and copper also come under this category. Furthermore, metals needed for the future energy sector like cobalt and lithium are some of the commodities traded in the commodity exchange. Energy such as coal, crude oil, natural gas, ethanol, uranium, and propane are some of the hard commodities traded in the commodity exchange

What Is a Commodity Market?

A commodity market is simply a marketplace for commodities. It is where various units of commodities are physically traded or bought and sold as derivatives. Derivatives are financial contracts that take their value from an underlying asset, in this case, the commodity. There are more than a hundred commodities that are traded in the commodity market.

Commodity markets can be a derivates market or spot market:

  • A spot market is the physical market where the commodities are physically exchanged. This works on an immediate delivery system and is also referred to as cash markets. Here, the buyer and the seller enter a contract on the spot. This means the current market price of the commodity and the quantity traded is finalised during this time. It is important to note that it usually takes two working days for the final settlement of the contract (the delivery of the commodity and the cash transactions). The spot market falls under the jurisdiction of specific states, rather than being regulated by SEBI.


  • A derivates market is for commodity derivates which can be either futures or forwards. Futures are standardised products traded on commodity exchanges while forwards can be custom-made and traded over the counter. These derivates contracts of an underlying commodity (from the spot market) are bought and sold. The contracts give the rights to the holder to exchange the contract for the physical commodity when the contract expires (at a future date). The value of the contract is decided in the present while the exchange takes place at a future date. Therefore, even if the price of the commodity has increased or decreased in the future, the terms of the contract have to be honoured based on the price agreed.

Also note:

In 2017, the trading of commodity options was introduced in India. It's important to note that options trading is conducted on the commodity futures. The commodity trade options contracts are the rights to buy (call option) or sell (put option) at a predetermined price on or before the expiry date of the contract. The commodity exchange collaborates with various warehouses to facilitate the supply of commodities at specified prices.

Traders and investors are offered two types of commodity futures trading options: speculative trading and delivery-based trading. The commodity exchange serves as a platform for the trade while the entire risk lies with the buyer or seller. The commodity option traders must pay a premium to buy a commodity option contract. Historically, the returns are higher, and the risk involved is considered to be lesser in options than in future contracts.

The trading of commodities is done through a regulated market known as a commodity exchange. The buying and selling of commodity derivatives can be done online through these commodity exchanges. The six major commodity exchanges in India are:

  • Multi Commodity Exchange of India (MCX)
  • National Stock Exchange (NSE)
  • Bombay Stock Exchange (BSE)
  • National Multi Commodity Exchange India (NMCE)
  • National Commodity and Derivative Exchange (NCDEX)
  • Indian Commodity Exchange (ICEX)

How To Participate in Commodity Trading in India?

You will need a trading account with a member of the exchange to facilitate online trading through the commodity exchanges. Your PAN (Permanent Account Number) will be your identity proof to open the trading account. Through the trading account, you can buy and sell commodity derivatives.

These derivates are typically traded based on margins, which refers to paying a portion of the total trade value. The margin can change depending on the category of commodities and the commodity exchange. If the commodity is volatile or the trade carries a significant risk, the margin will be higher. Upon expiry, the contract can be settled or renewed. Settling the contract takes place by paying or receiving the difference between the contract price and the current market price.

For instance, for a futures contract priced at Rs. 50,000 with a 5% margin, you will have to invest Rs. 2,500 at the time of purchasing the derivative. On the expiry date, let’s say the market price became Rs. 55,000. Therefore, the difference between the current price and the contract value (Rs. 55,000 – Rs. 50,000) is the profit in the transaction.

Having significant knowledge about the economic dynamics of the market is crucial to trade in commodities derivatives since they are typically considered high-risk financial instruments.

Here are the four methods in which you can participate in commodity trading in India through derivatives:

  1. Through the Commodity Exchanges in India

    2. A variety of commodities are traded on different exchanges in India. Investing in specific commodities can be done through the following commodity exchanges. The Multi Commodity Exchange of India Limited (MCX) is where the following products are traded:

    • Bullion products are traded like Gold, Mini Gold, Gold Petal, Gold Guinea, Silver, Silver Micro, and Silver Mini.
    • Base metals like Brass, Copper, Aluminium, Aluminium Mini, Lead, Lead Mini, Nickel, Zinc, and Zinc Mini.
    • Agricultural items like Cotton, Cardamom, Black Pepper, Castor Seed, Rubber, Crude Palm Oil, RBD Palm olein, and Mentha Oil.
    • Energy like Crude Oil, Crude Oil Mini, and Natural Gas.
    The National Commodity and Derivative Exchange (NCDEX) is where the following products are traded:

    • Paddy (Basmati Rice)
    • Channa
    • Barley
    • Maize
    • 29mm
    • Moong
    • Kapas
    • Guar Seed 1mt
    • Guar Seed 10 mt
    • Guar Gum
    • Soybean
    • Refined Soya Oil
    • Castor Seed
    • Mustard Seed
    • Crude Palm Oil
    • Cotton Seed Oil cake
    • Pepper
    • Turmeric
    • Jeera
    • Coriander
    • Sugar

    The Indian Commodity Exchange (ICEX) allows trading in agricultural products, fibre (jute, and plantation (rubber). Along with this, trading of commodities like diamonds and steel also takes place here.

  2. Through the Commodity Mutual Funds

    3. You can also opt for commodity mutual funds. These funds invest the corpus in a strategic combination of commodity-based companies and give a well-planned, indirect exposure to commodity trading. You can invest in these mutual funds through an asset management company or a broker.

  3. Through Commodity Exchange-Traded Funds

    4. Commodity exchange-traded funds (ETFs) are a combination of commodities that are traded on the stock exchange. You can invest in these mutual funds through a broker.

  4. Through Shares of Commodity Companies

    5. This is an indirect yet simple form of trading commodities. The investor or trader can buy the stocks of the company that deals with commodities like sugar stocks, oil stocks, etc. Investing in commodity stocks is less risky, as the investor is not putting the entire invested amount only in one commodity. If a company dealing with a particular commodity is well established, then the share price of the company would not have a huge and direct impact, even if there are drastic changes in the prices of the commodity.

    You can also invest in the commodity market by indulging in physical trades. However, this requires a careful analysis and deep knowledge of the market as well as access to the market and ancillary resources like storage and transportation facilities. Investors usually opt for a physical trade if it involves a valuable commodity. For example, gold can be bought in the form of jewelry, bars, or gold coins. The investor can physically deliver precious metals like gold, silver, and platinum. The transactional costs are high for such commodities.

Key Factors to Consider Before Investing in Commodities

As for any investment, it is imperative for investors to gain proper knowledge and do their research before trading or investing in commodities. To make this easier for you, here are some key factors you should consider before you begin your investment journey in commodities.

  1. Explore commodity fundamentals

    2. When you enter the commodities market, you essentially invest in the underlying commodity in different way (derivatives, physical). Therefore, your decision will also rely on the nature of the commodity itself. Exploring commodity fundamentals refers to the process of capturing all the relevant information about the categories that you might be interested in. To start with, you can take note of the following details:

    1. Which commodity exchange can you trade this commodity on?
    2. What are the lot sizes that you will have to buy or sell?
    3. What are the terms of the derivatives?
    4. What is the liquidity you will get through this commodity?
    5. How many contracts are available for trade?
    Based on your analysis and preferences, you can choose the commodities that would be most beneficial for your financial goals.

  2. Follow the latest news around the commodities market and the commodities that you’re interested

    3. An important aspect of financially sound investing decisions is staying up to date with the latest news around your investments. The same holds true for the commodities market as well. After choosing the commodities you are interested in, you must follow their latest activity. Since commodity trading relies on the underlying commodity, an incident or event around the commodity will impact it significantly. This could be a tax concession on production or even a new alternative entering the market. You can choose to rely on trusted websites and closed networks to get the latest updates. Even after making your investments, it is crucial to stay in touch with the latest updates so that you can tweak your strategies accordingly and maximise returns.

  3. Analyse research reports

    4. When acquiring information on commodities, investors and traders may find it beneficial to consult expert research reports. Though these could get technical, the reports will contain some important metrics and insights that should be enough for investors to analyse whether or not the commodity fits their financial goals. It will be a good decision to get the reports reviewed by a trusted expert, if you have any doubts.

  4. Assess the technical metrics

    5. Historical price movements can shed a lot of light on what triggers the commodity. This can be assessed through certain technical metrics. Resources available online can assist you in your journey to explore and understand how to compute these metrics and which metrics shed light on which aspect of the commodity. Metrics are usually presented as charts and percentages like moving averages and relative strength index. You can read more about them here.

Benefits Of Investing in Commodities

Investing or trading in commodities can be beneficial in certain cases. You can assess whether these benefits match with what you’re looking for as part of your financial goals. Some of them are as follows:

  1. Capable of giving good returns

    2. The prices of the commodities are influenced by the demand and supply of the commodities, the exchange rate, the inflation rate, and the overall economic scenario. During the past few years, much emphasis has been given to infrastructure projects and the development of the railway sector in India. The related industries have noticed increased commodity prices related to these sectors.

  2. Hedge Against Inflation

    3. Any geopolitical events like riots, political instability, and so on in a country will impact the prices of the commodities. This will be due to the disruption of the supply chain of the commodity. The raw material will not be transported to the manufacturers. It would lead to shortage of resources and an increase in the price.

    From investors' point of view, the commodities are volatile and capable of giving good returns during inflation. The value of stocks and bonds is impacted by inflation. This can result in a rise in commodity prices. It has been observed that commodities with high inflation have performed strongly.

  3. Helps In Diversifying Portfolio

    4. It’s always beneficial to have a diversified portfolio. This means allocating the funds to different investment plans. Investing in commodities, along with investments in bonds and equities, plays an important role in diversifying a portfolio. An investor may consider less-volatile commodities that give good returns and are less risky. The economic and geopolitical conditions impact the prices of the commodities.

    Commodities have a negative and low correlation with bonds and equities. The cost of production will typically result in an increase in commodity prices. This would mean a decrease in the manufacturer’s profit, as a lot of money will be spent on purchasing the raw materials. Inflation would result in the company’s share price going down and commodity prices going up. In such a scenario it would be beneficial if the portfolio is diversified. For example, if the fuel price (petrol and diesel) increases. People will avoid buying new vehicles so that the cost of living does not increase. This would result in auto sector share prices falling. A person who has invested in auto sector shares can diversify the portfolio by trading in fuel commodities (petrol and diesel).

  4. Surety and Safe Form of Investment

    5. During inflation, there is a dip in the economy. The prices of raw materials increase. This results in a rise in commodity prices. Investing in such commodities will give good returns. Markets experience high volatility, which results in the prices of shares and bonds going down. During market fluctuations, many invest in commodities as the prices of the commodities go up. This gives good returns to the investor and protects their investment in a volatile market.

    Apart from this trading in commodities is done electronic platform. This helps in maintaining transparency. It also helps in large-scale participation by buyers and sellers, as they do not meet. The entire process of buying and selling commodities is simple and does not have any scope for manipulation.

  5. Can Give Huge Profitable Returns

    6. Commodities are risky if liquidity is high. Companies may have either extremely high returns or suffer huge losses. An investor needs to research thoroughly and make the right decision. If the right decision is made, an investor can make huge profits by investing in commodities.

  6. Trading Can Be Done on Low Margins

    7. As a trader, an individual is supposed to deposit 5% to 10% of the contract's total value with the broker as a margin. This would mean a trader can take significant positions even if the capital is less. Due to this high percentage of leverage, investors can make gains by any substantial movement in the commodity price.

Risks Involved in Investing or Trading in Commodities

Investors or traders should consider the risks of investing or trading in commodities. These are as follows:

  1. They Are Highly Volatile

    2. Commodity prices in India are highly volatile, and this would mean the risk involved is on the higher side. They are impacted by several factors, such as Government regulations, events occurring worldwide, import and export controls, economic conditions, etc. There is a chance of the trader losing a considerable amount of money.

  2. They May Be Highly Risky

    3. Directly investing in commodities can be highly risky, especially for new traders. Leverage determines the gains and losses, so one must be cautious while investing or trading in commodities. This would mean either it may be a huge profit or a significant loss. Investors need to research thoroughly before investing.

Trading Hours of Commodity Exchange

Trading in Commodity Derivatives can be done during market hours. The commodity markets are open on weekdays. Saturday and Sunday are holidays. Buying and selling can be done during the morning or evening sessions. The morning session timings are 9 a.m. to 5 p.m. Orders can be placed on securities and energy commodities, base metals and bullions.

The evening session timings are from 5 pm to 11:30, sometimes 11:55 pm. The change in timings matches the beginning and end of daylight in the United States. The evening session closes at 11:30 pm during summer and at 11:55 pm during winter. During the session, the traders can trade on energy commodities, base metals and bullions. International traders can also trade in agricultural goods between 9 pm to 9:30 pm.

Taxes Related to Commodities

A commodity transaction tax is levied on both buyer and seller of the commodity contracts in any of the commodity exchange markets in India. It is taxed at 0.01% of the price of the trade. The tax imposed depends on the actual size of the commodity contract.

In the commodity sector, GST (Goods and Service Tax) is paid on the physical delivery of goods. The Goods and Service Tax are paid based on brokerage, warehouse, and exchange charges. In addition to this, there is also a stamp duty that is levied.

Conclusion

India’s commodity trading market is well placed as one of the most significant and growth-oriented market in the world. It is one of the drivers of the economy and provides excellent opportunities for investors to diversify their portfolios. At present, both the government and the private organisations of the nation are putting their best minds at work to create a secure and efficient commodity trading market. Investors can also read more about commodity trading here to enhance their knowledge before they start their investments.

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FAQs – Frequently Asked Questions


  • What is the main difference between the stock futures contract and commodity futures contract ?

    The stock future contract and commodity futures contracts are different from each other in quite a few ways. However, the main difference between the two is related to the expiry of the contract. The stock future contract expiry is every Thursday, whereas commodity future contracts have different expiry dates depending upon the commodity. For example, the expiry of the futures contracts of agricultural products like cotton, rice etc., is the last day of the expiry month.

  • Who oversees the regulation of commodity trading in India ?

    Since 28th September 2015, the Securities and Exchange Board of India (SEBI) has been regulating the commodity derivatives market in India. Forward Market Commission (FMC) regulated commodity trading in India before SEBI was made in charge. The Ministry of Consumer Affairs oversaw this Forward Market Commission.

    The Securities and Exchange Board of India (SEBI) was established to safeguard the interest of the investors. It is also supposed to establish transparency in the market and regulate the capital market.

  • Who is a commodity trading advisor in India ?

    A community trading advisor (CTA) is an organization or an individual advising their clients on options on futures and trading and investing in future contracts.

  • What is ATP in the commodity market ?

    ATP in a commodity market is the Average Traded Price. In a commodity market, the average price of the trades has to be calculated when a trader buys or sells a commodity more than once. It depends upon the number of trades executed. To get the average traded price, the total value of a traded commodity is divided by the number of commodities purchased or sold. These trades can be weekly, monthly, daily or yearly.

  • What is LTP in the commodity market ?

    LTP is the Last Traded Price in the commodity market. It is the price at which the last transaction of the commodity took place. The last traded price determines the direction in which the commodity price may move and the commodity’s market activity (demand and supply). This helps in giving the commodity's current market value. It is essential because it helps traders predict the commodity's future price.

  • How does the commodity market work ?

    There are two markets in which the commodity markets work. These markets are called the spot or cash markets. The other market is the futures market which is also known as the derivative market.

    The commodity market primarily works on the futures market. In the spot market, the commodities' transactions are taken on the spot. The payment is made immediately, and the commodity is delivered in 4 to 5 days. In the futures market, the delivery is on a future specified date, but the commodity's price is pre-determined beforehand.

  • Who participates in the commodity market? How are they classified ?

    The farmers, manufacturers, traders, investors, and exporters participate in the commodity market. They are classified as arbitragers, hedgers, and speculators in the commodity market.

  • What are the different types of commodities traded and how are they classified in the commodity markets ?

    Almost all known commodities are traded in the commodity market. The commodities along with their classifications are -

    • Precious metals: gold, silver, platinum, etc.
    • Agro-based commodities: wheat, cotton, oil, corn, oilseeds, etc.
    • Other metals: copper, aluminium, uranium, nickel, etc.
    • Soft commodities: coffee, sugar, cocoa, oranges, and soya bean, etc.
    • Energy: crude oil, natural gas, coal, geothermal and gasoline, etc.

  • What is the difference between a long position and a short position ?

    A long position is a net security/commodity bought for a longer period and expects the price to rise in the future. The short position is the net sale of the security/commodity.

  • Do we have to take delivery in commodity futures contract trading ?

    The provisions regarding the delivery of commodity futures contracts are made in the Byelaws of the Associations. This varies from one exchange to the other. Some exchanges give rights to the buyer and seller to demand /give delivery. It is at the option of the sellers.

  • What is the difference between commodities and goods ?

    Commodities are raw materials that are used by a manufacturer to make a final product. Goods on the other are the final products that enhance their value. For example, gold is a raw material, and jewellery made from gold is considered as goods.

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We may provide you with various money solutions and options which are generally available basis your investment profile or those which are generally held by persons of similar investment profile. You authorize us to use/disseminate the information to provide the Financial Solutions however it is not necessarily for you to act on it. It only serves an indicative use of information which you may execute in the manner agreed by you.

Password Protection

You shall not be entitled to avail the facilities without the use of a user name and password. You are responsible for maintaining the confidentiality of your password and Account, and you shall not allow anyone else to use your password at any time. You are fully responsible for all activities that occur using your password or Account. You are requested to please notify www.adityabirlacapital.com immediately of any unauthorized use or access of your password or Account, or any other breach of security. The Website will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge.

Intellectual Property Rights

This Website contains information, materials, including text, images, graphics, videos and sound (“Materials”), which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in these Materials are either owned by ABCL or have been licensed to Facilities Provider, ABCL / ABC Companies by the owner(s) of those rights so that it can use these Materials as part of this Website. Other than those Materials which belong to Third Parties, ABC Companies retains copyright on all Information, including text, graphics and sound and all trademarks displayed on this Website which are either owned by or licensed to by ABCL and/or used under license by ABC Companies.

You shall not (a) copy (whether by printing off onto paper, storing on disk, downloading or in any other way), distribute (including distributing copies), download, display, perform, reproduce, distribute, modify, edit, alter, enhance, broadcast or tamper with in any way or otherwise use any Materials contained in the Website. These restrictions apply in relation to all or part of the Materials on the Website; (b) copy and distribute this information on any other server or modify or re-use text or graphics on this system or another system. No reproduction of any part of the Website may be sold or distributed for commercial gain nor shall it be modified or incorporated in any other work, publication or web site, whether in hard copy or electronic format, including postings to any other web site; (c) remove any copyright, trade mark or other intellectual property notices contained in the original material from any material copied or printed off from the web site; link to this Website; without our express written consent.

No Warranty

Although all efforts are made to ensure that information and content provided as part of this Website is correct at the time of inclusion on the Website, however there is no guarantee to the accuracy of the Information. This Website makes no representations or warranties as to the fairness, completeness or accuracy of Information. There is no commitment to update or correct any information that appears on the Internet or on this Website. Information is supplied upon the condition that the persons receiving the same will make their own determination as to its suitability for their purposes prior to use or in connection with the making of any decision. Any use of this Website or the information is at your own risk. Neither ABCL and ABC Companies, nor their officers, employees or agents shall be liable for any loss, damage or expense arising out of any access to, use of, or reliance upon, this Website or the information, or any website linked to this Website.

No Liability

This Website is provided to you on an "as is" and "where-is" basis, without any warranty. ABCL, for itself and any ABC Companies and third party providing information, Materials (defined later), facilities, or content to this Website, makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third party rights, with respect to the website, the information or any products or facilities to which the information refers. ABCL will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site, even if ABCL has previously been advised of the possibility of such damages. Any access to information hosted on third party websites of billers/banks/merchants/ABC Companies etc. is not intended and shall not be treated as an offer to sell or the solicitation of an offer to buy any product/offering of these ABC Companies or third parties.

The Facilities Provider or ABCL or ABC Companies shall have absolutely no liability in connection with the information and Material posted on this Website including any liability for damage to your computer hardware, data, information, materials, or business resulting from the information and/or Material or the lack of information and/or Material available on the Website. In no event shall ABCL or ABC Companies shall be liable for any for any special, incidental, consequential, exemplary or punitive damages for any loss, arising out of or in connection with (a) the use, misuse or the inability to use this Website; (b) unauthorized access to or alteration of your transmissions or data; (c) statements or conduct of any third party on the site; or (d) any other matter whatever nature relating to this Website.

Further, the Facilities Provider cannot always foresee or anticipate technical or other difficulties. The facilities may contain errors, bugs, or other problems. These difficulties may result in loss of data, personalization settings or other facilities interruptions. The Website does not assume responsibility for the timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings.

The Facilities Provider, ABCL, ABC Companies and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this Website.

Manner of Use of Personal Information

All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Therefore, for any of these Purposes, the Website will use ABC Companies their authorized third party vendors, agents, contractors, consultants or facilities providers (individually a ‘Third Party Service Provider’ and collectively, the “Third Party Service Providers”) and to that extent you understand and authorize the Facilities Provider to share/transmit such information to Third Party Service Providers. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary.

Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties,

You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.

Use of Website in India

This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.

Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.

In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.

You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.

Third party websites

This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

USE of APP

In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.

Postings and monitoring

The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.

Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.

We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.

If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com

Use of Cookies

You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.  

Facilities Changes and Discontinuation

The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.

ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.

Compliance with the Law

You agree that you will not:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
  • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
  • Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
  • You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.

Restrictions on Commercial Use or Resale

Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.

No Endorsements

All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.

Promotional Offers

You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

Charges for use of Website

There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).

No Endorsement

You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.

In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.

Electronic Communications

These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.

Assignment

You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.

Legal Disclaimers

The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.

The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.

Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.

No Solicitation

No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.

The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an  amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.

Statutory Disclosure

ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF.  Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.

Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.

Force Majeure

The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.

Indemnification

You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

No Waiver

The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Exclusive Agreement

You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.

Termination

Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.

Governing Law and Jurisdiction

The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.

These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.

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