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Profit Krishna

Equity and Commodity Advisory Services - F&O Tips, Intraday Tips, Commodity Tips, Stock Market Tips

PROFIT KRISHNA an ISO Certified equity and commodity advisory services is a dedicated website which provides research work for Equity, stock tips, intraday tips, Multibagger & Commodity markets of India. Our services are chiefly designed for Investors and Traders to provide most appropriate solution. We have a specialized team of stock market analysts and commodity investment experts who can provide profitable stock market tips including future & option trading tips, commodity trading tips, intraday trading tips, nifty tips, BSE NSE Tips and MCX NCDEX Tips. We keep on updating you with share market recommendations and accurate stock market tips through SMS, phone calls and online chatting on daily, weekly and monthly basis which can help you in earning unlimited profit out of your investment.

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* Disclaimer: These recommendations are based on the theory of technical analysis and outlook of the market performance. Readers those who buy and sell securities based on the above information in this column are solely responsible for their actions. The author won't be liable or responsible for any sort of financial and legal loses suffered by the traders.
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Heritage Foods tumbles after weak Q1 results

Jul 31 2014 12:26PM

The stock hit a high of Rs 295 and a low of Rs 286.40 so far during the day. The stock hit a record high of Rs 364 on 23 May 2014. The stock hit a 52-week low of Rs 169 on 11 December 2013.

The stock had underperformed the market over the past one month till 30 July 2014, rising 0.71% compared with 2.65% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 5.17% as against Sensex's 16.37% rise.

The small-cap company has an equity capital of Rs 23.20 crore. Face value per share is Rs 10.

The Heritage Group has five-business divisions viz., dairy, retail, agri, bakery and renewable energy, under its flagship company Heritage Foods.

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Divi's Labs slips ex-dividend

Jul 31 2014 12:25PM

The stock hit a high of Rs 1,490 and a low of Rs 1,463.95 so far during the day. The stock hit a record high of Rs 1,548.95 on 7 July 2014. The stock hit a 52-week low of Rs 905 on 5 August 2013.

The stock had underperformed the market over the past one month till 30 July 2014, rising 2.11% compared with 2.65% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 8.06% as against Sensex's 16.37% rise.

The large-cap company has an equity capital of Rs 26.55 crore. Face value per share is Rs 2.

Before turning ex-dividend, the stock offered a dividend yield of 1.34% based on the closing price of Rs 1,491.20 on Wednesday, 30 July 2014.

On a consolidated basis, Divi's Laboratories' net profit rose 8.8% to Rs 196.43 crore on 14% growth in net sales to Rs 747.62 crore in Q4 March 2014 over Q4 March 2013.

Divi's Laboratories is primarily engaged in manufacturing active pharmaceutical ingredients (APIs) and intermediates.

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Navin Fluorine drops after weak Q1 result

Jul 31 2014 12:23PM

The stock hit a high of Rs 575 and low of Rs 562.85 so far during the day. The stock had hit a record high of Rs 659.70 on 20 June 2014. The stock had hit a 52-week low of Rs 156 on 6 August 2013.

The stock had underperformed the market over the past one month till 30 July 2014, falling 3.27% compared with 2.65% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 58.3% as against Sensex's 16.37% rise.

The small-cap fluorochemicals maker has equity capital of Rs 9.76 crore. Face value per share is Rs 10.

Navin Fluorine International belongs to a reputed industrial house of Arvind Mafatlal Group in India. It has largest integrated fluorochemicals complex in India, since 1967. The company primarily focuses on three businesses, Refrigeration gases, Chemicals/Bulk Fluorides and Specialty Organofluorines with manufacturing facilities at Surat, Gujarat and Dewas, Madhya Pradesh.

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L&T tumbles as Q1 adjusted PAT capped by onetime loss

Jul 30 2014 11:54AM

The stock hit a high of Rs 1,595 and a low of Rs 1,513.45 so far during the day. The stock hit a record high of Rs 1,774.70 on 9 June 2014. The stock hit a 52-week low of Rs 678.10 on 28 August 2013.

The stock had underperformed the market over the past one month till 28 July 2014, falling 1.30% compared with 3.55% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 23.74% as against Sensex's 14.84% rise.

The large-cap company has an equity capital of Rs 185.54 crore. Face value per share is Rs 2.

L&T's consolidated profit after tax (PAT) jumped 111% to Rs 967 crore on 10% growth in gross revenue to Rs 19123 crore in Q1 June 2014 over Q1 June 2013. The sharp rise in PAT was on the back of divestment gains, L&T said. The recurring PAT jumped 68% to Rs 771 crore in Q1 June 2014 over Q1 June 2013. The growth in PAT, however, was restricted by a onetime loss of about Rs 942.14 crore at PBIT level from the hydrocarbon segment. The company provided for all foreseeable future losses of 5 projects in Middle East region during the quarter.

International revenue during Q1 June 2014 stood at Rs 4781 crore, constituting 25% of the total revenue, L&T said.

L&T's order intake rose 11% to Rs 33408 crore in Q1 June 2014 over Q1 June 2013. The international order inflow at Rs 14754 crore in Q1 June 2014 grew more than 2 times on year-on-year (YoY) and constituted 44% of the total order inflow during the quarter. Major orders during Q1 June 2014 were secured by the infrastructure, hydrocarbon and heavy engineering segments, L&T said.

The consolidated order book of the group stood at Rs 195392 crore as on 30 June 2014, higher by 13% on YoY basis. International order book constituted 26% of the total order book, L&T said.

L&T said that notwithstanding the improved sentiments, the domestic business environment and investment cycle continued to remain subdued in Q1 June 2014. The company weathered domestic slowdown by strengthening its international presence in the select overseas markets amidst strong competitive pressures, L&T said.

L&T said that the domestic market holds large potential, awaiting impetus through policy measures and conducive investment environment. The company expects good prospects in the medium term from revival of core sectors such as infrastructure, power, minerals & metals, defence and oil & gas when the initiatives by the new government at the centre take definitive shape and rigour. The company is confident of sustaining its growth momentum by utilizing the emerging opportunities for which it has positioned itself well, L&T said.

L&T is a $14.3 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. Its products and systems are marketed in over 30 countries worldwide. L&T is one of the largest and most respected companies in India's private sector. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.

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GAIL (India) slips in volatile trade

Jul 28 2014 1:39PM

The stock saw intraday volatility. The stock rose as much as 0.77% at the day's high of Rs 431.20 so during the day. The stock fell as much as much as 1.05% at the day's low of Rs 423.40 so during the day. The stock hit 52-week low of Rs 273 on 28 August 2013. The stock hit a 52-week high of Rs 475 on 10 July 2014.

The stock had underperformed the market over the past one month till 25 July 2014, falling 8.45% compared with 3.21% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 12.78% as against Sensex's 15.16% rise.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) after market hours on Friday, 25 July 2014, announced signing of a Memorandum of Understanding (MoU) with Sumitomo Corporation, Japan (Sumitomo). Under the MoU, GAIL (India) and Sumitomo will pursue business opportunities in natural gas and LNG value chain business globally, specifically covering cooperation in petrochemicals, natural gas procurement, pipelines and LNG. GAIL (India) and Sumitomo hold half of the capacity in the Cove Point LNG Liquefaction Terminal in the US respectively, and have also agreed to coordinate for ensuring smooth operation of the terminal. Both parties view US market as a growth area for their line of businesses and would cooperate on businesses ranging from upstream to downstream, GAIL (India) said.

“There are significant opportunities in the North American gas markets and we are pleased to be partnering with Sumitomo in jointly developing this business,” BC Tripathi, Chairman and Managing Director of GAIL (India) said.

GAIL (India)'s net profit rose 57.2% to Rs 972.03 crore on 16.6% growth in net sales to Rs 14464.29 crore in Q4 March 2014 over Q4 March 2013.

GAIL (India) is India's flagship gas transmission and marketing company with global footprints. The Government of India (GoI) holds 56.11% stake in GAIL (India) (as per the shareholding pattern as on 30 June 2014).

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IDBI Bank, United Bank of India rise on merger buzz

Jul 28 2014 1:37PM

Shares of UBI had outperformed the market over the past one month till 25 July 2014, rising 11.49% compared with 3.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 57.30% as against Sensex's 15.16% rise.

Shares of IDBI Bank had underperformed the market over the past one month till 25 July 2014, falling 16.05% compared with 3.21% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 33.53% as against Sensex's 15.16% rise.

According to reports, United Bank of India's merger with IDBI Bank made perfect sense. IDBI has a weak presence in the eastern part of the country where UBI has a strong branch network. Besides, IDBI Bank is seen to have a weak retail network, which can be strengthened by the Kolkata-headquartered UBI. In addition, both the banks use common software, Infosys' Finacle, which will make the merger easier, reports said.

UBI has been struggling with high bad debt, which has eaten into its capital base. Its ratio of gross non-performing assets (NPAs) to gross advances stood at 10.47% as on 31 March 2014 as against 10.82% as on 31 December 2013 and 4.25% as on 31 March 2013. The ratio of net NPAs to net advances stood at 7.18% as on 31 March 2014 as against 7.44% as on 31 December 2013 and 2.87% as on 31 March 2013. UBI's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 9.81% as on 31 March 2014 as against 9.01% as on 31 December 2013.

If UBI merges with IDBI Bank, then it will help UBI get a capital boost, reports suggested.

The Government of India (GoI) holds 76.50% stake in IDBI Bank (as per the shareholding pattern as on 30 June 2014).

The Government of India (GoI) holds 89.47% stake in United Bank of India (as per the shareholding pattern as on 30 June 2014).

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Volumes jump at Bajaj Finserv counter

Jul 28 2014 1:37PM

Bajaj Finserv clocked volume of 5.05 lakh shares by 13:18 IST on BSE, a 16.49-times surge over two-week average daily volume of 31,000 shares. The stock fell 0.65% to Rs 925.90.

Bombay Burmah Trading Corporation notched up volume of 8.39 lakh shares, a 8.95-fold surge over two-week average daily volume of 94,000 shares. The stock hit an upper circuit limit of 20% at Rs 194.10.

Gujarat Pipavav Port saw volume of 11 lakh shares, a 4.67-fold surge over two-week average daily volume of 2.36 lakh shares. The stock fell 0.42% to Rs 143.

Axis Bank clocked volume of 5.62 lakh shares, a 4.52-fold surge over two-week average daily volume of 1.24 lakh shares. The stock rose 0.27% to Rs 398.25.

VIP Industries saw volume of 6.40 lakh shares, a 3.90-fold rise over two-week average daily volume of 1.64 lakh shares. The stock rose 2.16% to Rs 118.25.

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Bharti Infratel inches up after strong Q1 outcome

Jul 25 2014 11:43AM

The stock was volatile. The stock rose as much as 2.45% at the day's high of Rs 267.25 so far during the day. The stock rose 0.13% at the day's low of Rs 261.20 so far during the day.

Bharti Infratel's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 13% to Rs 1185 crore in Q1 June 2014 over Q1 June 2013.

Commenting on the company's Q1 performance, Akhil Gupta, Chairman, Bharti Infratel said, "One of the key focus areas for the industry as well as the Government is internet connectivity across India. Industry expects clear road map for spectrum auctions in all bands, spectrum sharing and trading. All these steps shall accelerate the growth of data networks, users and usage which should result in growing demand for towers and higher sharing by operators. Bharti Infratel with its superior network footprint and service quality standards has the potential to be a major beneficiary of this growth."

Bharti lntratel is lndia's leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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Prozone Capital Shopping Centres to hold board meeting

Jul 31 2014 12:30PM

Prozone Capital Shopping Centres will hold a meeting of the Board of Directors of the Company on 7 August 2014, to consider and approve the financial results of the Company for the quarter ended 30 June 2014.

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TCS adds Asia pacific region to its portfolio of major runing events

Jul 30 2014 12:00PM

Tata Consultancy Services announced that it is the official IT consultancy partner of the Standard Chartered Singapore Marathon 2014 (SCMS). TCS will provide mobile application and technology support for the event.

The race is the latest of the board portfolio of major running events TCS sponsors and supports worldwide including the TCS NYC marathon.

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ITL Industries announces appointment of key managerial person

Jul 30 2014 11:59AM

ITL Industries announced that the Company has appointed following Key Managerial Person (KMP) and Internal Auditor of the Company as per the Companies Act,2013 :

1. Ashok Ajmera has been appointed as a Chief Financial Officer of the Company.

2. Akhilesh Gautam has been appointed as a Company Secretary of the Company.

3. Pratibha Kothari has been appointed as a Internal Auditor of the Company.

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Tata Steel announces dual unsecured bond issue in international markets

Jul 25 2014 11:58AM

Tata Steel announced a successful dual tranche Reg S issuance of USD 1.5 billion of unsecured bonds in the international markets.

The issue comprises USD 500 million 4.85% Unsecured Bonds due on 31 January 2020 and USD 1 billion 5.95% Unsecured Bonds due on 31 July 2024 by Abja Investment, (Issuer) a wholly owned subsidiary of Tata Steel incorporated in Singapore.

The issue is guaranteed by Tata Steel. The bonds are rated BB+ by Fitch and BB by S&P and will be listed on the Frankfurt Stock Exchange.

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Century Plyboards (India) announces appointment of director

Jul 25 2014 11:44AM

Century Plyboards (India) announced that Mamta Binani has been appointed as an Independent Director in the intermittent vacancy caused by the resignation of Sajan Kumar Bansal. This appointment is effective on and from 24 July 2014.

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Board of GeeCee Ventures approves allotment of convertible warrants

Jul 24 2014 11:28AM

GeeCee Ventures announced that the Board of Directors of the Company at its meeting held on 23 July 2014, inter alia, have considered and approved the following:

- Allotment of 27,00,000 warrants convertible into equity shares of Rs. 10/- each fully paid up at price of Rs. 36/- (including premium of Rs. 26/-) to the promoters/promoters group on preferential basis.

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Rashtriya Chemicals & Fertilizers announces appointment of directors

Jul 24 2014 11:26AM

Rashtriya Chemicals & Fertilizers announced that the Board of Directors of the Company has appointed:

S. K. Lohani, as Government Nominee Director of the Company w.e.f. 02 July 2014, in place of S. C. Gupta.

Suresh Warior, as Director (Finance) and Chief Financial Officer of the Company w.e.f. 18 July 2014.

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Outcome of board meeting of ING Vysya Bank

Jul 23 2014 12:08PM

ING Vysya Bank announced that the Board of Directors of the Bank at its meeting held on 22 July 2014 transacted the following -

To seek approval of the members of the Bank to increase the total amount of borrowing of the Bank to up to Rs 20,000 crore and to augment the capital either through Tier I and/or Tier II debt issuance not exceeding Rs 700 crore through private placement of securities.

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LIC Nomura MF Interval Fund Series 1-Quarterly Announces Dividend

Jul 31 2014 12:35PM

LIC Nomura Mutual Fund has announced 05 August 2014 as the record date for declaration of dividend under dividend option and direct-dividend option of LIC Nomura MF Interval Fund Series 1-Quarterly. The quantum of dividend will be the entire distributable surplus as on record date on the face value of Rs 10 per unit.

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Kotak QIP Series 6 Announces Dividend

Jul 31 2014 12:34PM

Kotak Mutual Fund has announced 05 August 2014 as the record date for declaration of dividend under the dividend option of Kotak Quarterly Interval Plan Series 6 (Kotak QIP Series 6). The quantum of dividend will be the entire appreciation in Net Asset Value (NAV) of dividend option until 05 August 2014 on the face value of Rs 10 per unit.

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IDFC MF launches “IDFC Fixed Term Plan Series -100(1098 Days)”

Jul 30 2014 12:04PM

IDFC Mutual Fund has launched a new close ended income scheme named “IDFC Fixed Term Plan Series -100(1098 Days)” with maturity period of 1098 days from the date of allotment.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on August 04.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 10,000 and in multiples of Rs 10 thereafter. The options available under the Plan of the Scheme are Growth and Dividend option.

The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Anupam Joshi will be the Fund Manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met by investing in a portfolio of money market instruments (including CBLO) and debt securities. Hence, the scheme will allocate 0 to 20 per cent of asset in money market instruments (including CBLO) and 80 to 100 per cent of asset in debt securities.

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JM Financial MF announces changes

Jul 30 2014 12:01PM

JM Financial Mutual Fund has announced the following changes in the below mentioned equity schemesa. Reallocation  of responsibilities among the equity fund managers:

JM Arbitrage Advantage Fund: Asit Bhandarkar, Sanjay Chhabaria and Chaitanya Choski

JM Core 11-Fund: Asit Bhandarkar and Chaitanya Choski

JM Tax Gain Fund and JM Equity Fund: Sanjay Chhabaria and Chaitanya Choski

b. Introduction of Annual Bonus Option in JM Balanced Fund and JM Arbitrage Advantage Fund:

Proposed options are:

JM Balanced Fund and JM Arbitrage Advantage Fund: Dividend option, direct-dividend option, growth option, direct- growth option, bonus option, direct-bonus option, annual bonus option and direct- annual bonus option.

The annual bonus option will be available for subscription in JM Balanced Fund and JM Arbitrage Advantage Fund with effect from 01 August 2014 under normal and direct plans.

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Principal Pnb Fixed Maturity Plan-Series B5 Announces Dividend

Jul 28 2014 1:44PM

Principal Mutual Fund has announced 31 July 2014 as the record date for declaration of dividend under the dividend options under both regular and direct plan of Principal Pnb Fixed Maturity Plan-Series B5, a closed ended debt scheme. The quantum of dividend (Rs per unit) on the face value of Rs 10 per unit will be entire distributable surplus as on the record date.

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IDFC MF Announces Rollover of IDFC Fixed Term Plan – Series 24

Jul 25 2014 12:03PM

IDFC Mutual Fund has announced rollover of IDFC Fixed Term Plan – Series 24, a close ended income scheme which is due for maturity on 04 August 2014.

The features of the proposed rollover are as follows:

Period of rollover: 729 days.

Date of Maturity for rollover: 02 August 2016.

Asset allocation post rollover:

The scheme would invest upto 50% of assets in money market instruments (including CBLO) with low to medium risk profile and invest 50%-100% of assets in debt securities with medium to high risk profile.

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ICICI Prudential MF Announces Dividend Under Two Schemes

Jul 25 2014 12:01PM

ICICI Prudential Mutual Fund has announced 30 July 2014 as the record date for declaration of dividend under the following schemes. The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be:

ICICI Prudential Interval Fund II – Quarterly Interval Plan F:

Retail Dividend: 0.2048

Direct Plan – Dividend: 0.2120

Regular Plan – Dividend: 0.2092

Retail Quarterly Dividend Payout: 0.2032

ICICI Prudential Corporate Bond Fund:

Direct Plan – Quarterly Dividend: 0.3023

Regular Plan – Quarterly Dividend: 0.2688

Plan B - Quarterly Dividend: 0.2635

Plan C - Quarterly Dividend: 0.2638

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Birla Sun Life Capital Protection Oriented Fund – Series 22 Floats On

Jul 25 2014 12:00PM

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Capital Protection Oriented Fund – Series 22, a close ended capital protection oriented scheme. The tenure of the scheme is 1100 days from the date of allotment. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 25 July and close on 08 August 2014.

The investment objective of the scheme is to seek capital protection on maturity by investing in fixed income securities maturing on or before the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments.

The scheme offers two options viz. growth and dividend option. The scheme would allocate 80% to 100% of assets in debt & money market instruments with low to medium risk profile and upto 20% in equity and equity related instruments with high risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry and exit load charge will be nil.

Benchmark Index for the scheme is CRISIL MIP Blended Index.

The fund managers of the scheme will be Prasad Dhonde and Vineet Maloo.

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Mustard seed ends higher on restricted supply

Jul 31 2014 12:40PM

Mustard seed prices closed higher by 0.45 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. At the NCDEX, mustard seed futures for August 2014 contract closed at Rs. 3,599 per quintal, up by 0.45 per cent, after opening at Rs. 3,581 against the previous closing price of Rs. 3,583. It touched the intra-day high of Rs. 3,599.

India produces 5.5 million MT to7 million MT annually and about 0.15 million MT is retained for sowing and direct consumption as seed which leaves about 4.8-5.1 million MT for crushing and extracting oil.

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Weak demand drags down Crude oil futures

Jul 31 2014 12:38PM

Crude oil fell by 0.79 per cent on Thursday at the domestic markets after the U.S. announced that Washington was slapping sanctions on Russian energy, defense and financial sectors on accusations that Moscow continues to support separatists in the Ukraine while amassing troops along its Ukrainian border which sent oil prices falling. At the MCX, crude oil futures for August 2014 contract were trading at Rs. 6,026 per barrel, down by 0.79 per cent, after opening at Rs. 6,060 against the previous closing price of Rs. 6,074. It touched the intra-day low of Rs. 6,017 till the trading. (At 11.40 AM today). However, losses were curbed after Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -3.697M, from -3.969M in the preceding month indicating that the demand for the commodity in US, world’s largest consumer of crude oil is strong.

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Crude Down In Asia, Dollar Holds Gains

Jul 28 2014 5:14PM

 WTI Crude is quoting slightly lower in Asia and is leading to a selloff in localfutures too. Crude is trading mixed over last few days. WTI Crude oil futures dropped infirst two weeks of July on hopes that rising supplies from Libya would depress sentiments.However, a tense geopolitical environment kept the WTI Crude supported at its two monthlow mark of $100 per barrel. Prices gained further, hitting highs above $103 per barrel asthe US jobless claims hit their eight year low mark. Russia rejected the US accusationsthat it had supplied missiles that brought down the Malaysian Airlines passenger jet, evenas the conflict intensified in eastern Ukraine with increased tensions between Moscow andthe West.

The stocks in Asia are trading mixed ahead of some key global economic data this week.The unrest on global geopolitical front remains in place and the US dollar is hoveringaround its nine month high of 1.3450 against the Euro. The counter quotes at $101.89 perbarrel, down 19 cents per barrel on the day. MCX Crude trades at Rs 6140 per barrel, downRs 10 per barrel on the day with a massive 17% increase in the open interest.

Meanwhile, a key data last week showed that the US commercial crude oil inventories(excluding those in the Strategic Petroleum Reserve) decreased by 4 million barrels,extending their recent drop further. At 371.1 million barrels, U.S. crude oil inventoriesare in the upper half of the average range for this time of year. Crude stocks at theCushing, Oklahoma, delivery hub fell 1.5 million barrels. The weekly refinery utilizationrate held steady at 93.8%, EIA data showed. MCX Crude oil futures surged above Rs 6200 perbarrel before easing on profit selling.

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US Lead Mine Production Declines By 3% In March 2014

Jul 28 2014 5:13PM

As per the latest report from United States Geological Survey (USGS) domestic mine production (recoverable) of US lead in March was 28500 metric tons. Average daily mine production in March was 918 tonnes, 3% less than that in February. Year-to-date lead mine production was 8% greater than during the same period in 2013. Secondary refinery production of lead in March increased by 7% from that of the previous month, but year-to-date production was 7% less than that in the same period in 2013.

Total imports of lead for consumption in March 2014 increased by 65% from those in the previous month, but imports during the first quarter of 2014 were 10% less than during the first quarter of 2013.

Total exports of lead, exclusive of scrap, in March decreased by 22% from the previous month, but increased by 66% during the first quarter of 2014 compared to the same period in 2013. The increase owed primarily to increased exports of lead contained in ore and concentrates, the majority of which went to China.

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Physical Demand Will Support Chana Prices In The Near Term

Jul 25 2014 12:25PM

hana futures are likely to gather some more buying in the term due to weak arrivals in local mandies coupled with sluggish sowing pattern of the kharif pulses. The NCDEX futures to test 2870 -2875 levels in the near term.

As per the market sources, the total daily arrivals of Chana dropped to just 15 motors in Delhi mandi from the average daily arrivals of 25 motors over last few weeks. The spot prices added Rs 25 per quintal in the last trading to close at Rs 2650 per quintal. Traders added that monthly chana consumption has also been increased from the level of 3-3.5 lakh bags to reach 4-4.5 lakh bags due to excessive buying by millers at lower levels.

The prices will also get strong boost from weak sowing trend of kharif pulses so far in the current year. The latest kharif data suggested that kharif pulses sowing has been completed in 21.50 lakh hectares as on 17 July 2014, down 32% from the last year in the same period.

The NCDEX August Chana futures rose by 0.21 % to close at Rs 2836 per quintal. The NCDEX futures reduced 3% in open interest indicating short covering by traders. Technically, buying is likely to emerge from 2810-2815 levels , while resistances at 2870-2875 levels in the near term.

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Rains Stall Rise In Brazil Sugar Output Says Unica

Jul 25 2014 12:21PM

Sugar production in Brazils key centre south district slowed for the first time this season as showers slowed the cane harvest, industry group Unica said, restating a caution of a more serious slowdown ahead.Mills in the centre south, responsible for some 90% of Brazilian sugar output, produced 2.55m tonnes of the sweetener in the first half of this month, down 30,000 tonnes on output in the last half of June, Unica said. The decline, while small, represents the first slowdown in a 2014-15 season which has been marked by a rapid pace of cane harvesting, which entered July up 11.1% year on year, accelerated by dry weather - which has raised concerns over yields.

Sugar output has been further supported by an increased diversion of what cane has been harvested to the sweetener, rather than to ethanol. The proportion going to sugar so far in 2014-15 is, at 43.6%, up 1.1 points year on year.

Centre South cane crushing volumes, at 41.3m tonnes in the first half of July, were down 6.4% on those in the second half of June, and down 3.9% year on year.

The decline was down largely to rains in the south of Sao Paulo, the top cane growing state, the north of Parana and a good part of Mato Grosso do Sul, Unica said, amid talk that the rains are proving a setback to coffee growers too, in prompting premature flowering.

Nonetheless, mills, with 244.4m tonnes of cane crushed so far this season, remain 8.3% ahead of last year on their processing pace - despite weaker yields of the crop, implying a considerable advancement in harvested area, the industry group said.

Cane yields have been hurt by undue dryness for most of 2014, and while some producers are seeing improved results this year, others are showing annual drops of more than 20%, Unica technical director Antonio de Padua Rodrigues said.

The group restated ideas that cane production will suffer an unusually early seasonal decline, thanks to the extent of cane already harvested, and as mills turn to more damaged, or even immature, crops.

In the Centre South, the expectation is for the reduction in yield to accentuate in the coming months, due to harvesting of sugar cane less than 12 months old, and in areas most affected by the prolonged drought, Mr Rodrigues said.Indeed, fears for a tail-off in output were behind the elevated diversion of cane to making sugar, rather than ethanol.

It is natural that companies take advantage of the current period, when cane quality is at its best, to produce the sugar necessary to meet future commitments, Mr Rodrigues said.

Nobody wants to run the risk of not being able to produce the sugar already contracted to, as there are many doubts about the harvest for the coming months.

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Profit Krishna

The Indian rupee edged lower at commencement on Friday

Jul 25 2014 12:20PM

The Indian rupee edged lower at commencement on Friday, 25 July 2014 tracking losses in the Asian currencies market. The domestic currency opened marginally down by 2 paise at Rs 60.13 against the US dollar and climbed to a high of 60.11 before falling back to a low of 60.18 so far during the day. In the spot currency market, the Indian unit was last seen trading at 60.16, down 5 paise or 0.08% as compared to previous close at 60.11.

Rupee ended weaker on Thursday, retreating from a more than one-week high hit earlier in the session on the back of month-end dollar demand from importers and possible intervention by the central bank.

The International Monetary Fund in its update of World Economic Outlook stated that, in India, growth appears to have bottomed out, and activity is projected to pick up gradually after the postelection recovery in business sentiment, offsetting the effect of an unfavorable monsoon on agricultural growth. IMF has retained its forecast of 5.4% growth in Indian economy in 2015 and a stronger 6.4% growth next year.

Domestic benchmark indices slipped into the red once again after regaining positive terrain after opening lower. The barometer index, the S&P BSE Sensex and the 50-ubit CNX Nifty, both, hit record high. An index of Asian shares pulled away from a three-year high on Friday after a mostly flat day on Wall Street, though an S&P closing record and upbeat U.S. employment data underpinned sentiment.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 282.44 crore on Thursday, 24 July 2014, as per provisional data from the stock exchanges. At the time of writing, the S&P BSE Sensex was down 17.05 points or 0.06% to 26,254.80 while the CNX Nifty was down 8.80 points or 0.11% to 7,821.80.

In the global currency market, the dollar held gains versus the yen and the euro stood steady after rebounding from an eight-month low against the greenback as data painted a brighter picture of the US and eurozone

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International Trade Sanctions Could Trigger A Flood of Russian Wheat

Jul 24 2014 12:55PM

Tighter international trade restrictions on Russia could trigger a flood of wheat onto global markets.Ukraine and Russia, along with North America, are Australias biggest grain export competitors.Market analysts are expecting Russian wheat yields to reach 50 million tonnes this year, with 20 million tonnes set for export.

Harvest of that grain is currently underway at a time when the United States and the European Union are considering further sanctions on Russia following the Malaysian Airlines plane crash.Sydney University economics lecturer Mark Melatos says Russian wheatexporters might flood the market if they fear sanctions will restrict their exports.

At the moment, it looks like the summer crop in Russia and Ukraine is going to be huge, he said.Theyre going to have a lot of grain sitting around and they may need to get rid of it, especially if theyre trying to beat some trade sanctions that they think might be coming.

That could really forces prices down across the board.Sanctions are restrictions on economic activity, typically between two or more countries.Dr Melatos says sanctions usually occur in two forms - as trade barriers or restrictions on financial transactions between the two countries.

He says the US expended its sanctions on Russian individuals with close ties to the Kremlin, banks and businesses just days before the Malaysian Airlines crash.Sanctions could be very damaging on both sides, Dr Melatos said.On the Russian side, the costs are obvious.

Their exports, or if they were financial sanctions, the costs to their businesses and banks would be very large and easy to see if they werent able to transact business on a global scale.The cost to the imposing countries come from a number of directions.

Firstly, someone buys the exports that Russia sells [and] those countries wont be able to buy exports any longer. So, for example, if they are buying Russian gas or if they are buying Russian wheat, theyre going to have to find alternative suppliers.

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Post Session: Sensex retreats in choppy trade; M&M, HDFC down

Jul 31 2014 5:11PM

 The Indian bourses closed lower in choppy trade on Thursday as investors remained cautious on the day of F&O expiry. Among the thirteen sectoral indices, all the indices, barring oil & gas, metal, realty and healthcare, ended in red with financial and power stocks leading the decline. On the corporate front, ICICI bank ended down over 1 per cent despite posting impressive bottom-line growth in its first quarter earnings that beats analyst on all parameters. The bank reported a growth of 3.08 per cent in its consolidated net profit at Rs 2,832.01 crore for the first quarter ended June 30, 2014, driven by rise in credit demand and higher fee income. Among others, country’s leading car manufacturer Maruti Suzuki India saw business taking a ride in the first quarter as its earnings beats street estimates on the back of strong sales and higher other income. The auto major has reported a growth of 20.69 per cent in its standalone net profit at Rs 762.28 crore for the first quarter ended June 30, 2014.

The BSE SENSEX closed at 25894.97 down by 192.45 points or by 0.74 per cent, while the NSE Nifty ended at 7721.3 down by 70.1 points or by 0.9 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 26118.88 and intraday low of 25853.69, while the NSE Nifty touched intraday high of 7791.85 and intraday low of 7711.15.

Bucking the trend, the broader market closed in positive terrain. The BSE MIDCAP closed at 9188.19 up by 16.68 points or by 0.18 per cent, while the BSE SMLCAP ended at 9989.42 up by 24.49 points or by 0.25 per cent.

On the Sectoral front, power and bankex indices declined 1.35 per cent and 1.18 per cent, respectively.



The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3184, shares advanced were 1500 while 1560 shares declined and 124 were unchanged.



The top losers of the BSE Sensex pack were NTPC Ltd. (Rs. 145.00,-3.01%), Axis Bank Ltd. (Rs. 391.85,-2.52%), Mahindra & Mahindra Ltd. (Rs. 1198.00,-1.73%), Tata Power Company Ltd. (Rs. 97.95,-1.66%), Housing Development Finance Corporation Ltd. (Rs. 1067.35,-1.60%), among others.

On the flip side, Cipla Ltd. (Rs. 456.30,+1.92%), Tata Steel Ltd. (Rs. 553.40,+1.56%), Coal India Ltd. (Rs. 368.95,+0.49%), GAIL (India) Ltd. (Rs. 433.90,+0.17%), Reliance Industries Ltd. (Rs. 1006.00,+0.05%), were among notable gainers on BSE.

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Profit Krishna

LME Inventory

Jul 18 2014 1:34PM

       COPPER: -875

       ZINC: -300

       LEAD: +175

       NICKLE: +306

       ALUMINIUM: -9475

LME Cancelled Warrants

       COPPER: +[1.59]

       ZINC: +[1.86]

       LEAD: -[]

       NICKLE: +[0.03]