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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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Hindustan Copper Ltd drops for fifth straight session

Jun 21 2018 10:44PM

Hindustan Copper Ltd fell for a fifth straight session today. The stock is quoting at 68.6, down 1.37% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.01% on the day, quoting at 10772.7. The Sensex is at 35574.81, up 0.08%.Hindustan Copper Ltd has eased around 0.15% in last one month.Meanwhile, Nifty Metal index of which Hindustan Copper Ltd is a constituent, has eased around 3.95% in last one month and is currently quoting at 3459.65, down 0.25% on the day. The volume in the stock stood at 6.52 lakh shares today, compared to the daily average of 22.35 lakh shares in last one month.

The PE of the stock is 80.93 based on TTM earnings ending March 18.

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Volumes soar at Thyrocare Technologies Ltd counter

Jun 21 2018 10:36PM


Trent Ltd, Vardhman Textiles Ltd, Network 18 Media & Investments Ltd, Varun Beverages Ltd are among the other stocks to see a surge in volumes on NSE today, 21 June 2018.
Thyrocare Technologies Ltd clocked volume of 2.22 lakh shares by 14:14 IST on NSE, a 7.77 times surge over two-week average daily volume of 28519 shares. The stock gained 0.25% to Rs.594.50. Volumes stood at 1.54 lakh shares in the last session.
Trent Ltd witnessed volume of 14.25 lakh shares by 14:14 IST on NSE, a 7.22 times surge over two-week average daily volume of 1.97 lakh shares. The stock increased 0.98% to Rs.320.95. Volumes stood at 23176 shares in the last session.
Vardhman Textiles Ltd notched up volume of 1.77 lakh shares by 14:14 IST on NSE, a 5.15 fold spurt over two-week average daily volume of 34348 shares. The stock rose 3.74% to Rs.1,247.95. Volumes stood at 2.36 lakh shares in the last session.
Network 18 Media & Investments Ltd clocked volume of 34.85 lakh shares by 14:13 IST on NSE, a 5.06 times surge over two-week average daily volume of 6.89 lakh shares. The stock gained 1.49% to Rs.44.35. Volumes stood at 8.74 lakh shares in the last session.
Varun Beverages Ltd witnessed volume of 2.43 lakh shares by 14:14 IST on NSE, a 4.76 times surge over two-week average daily volume of 51061 shares. The stock dropped 0.57% to Rs.753.00. Volumes stood at 48912 shares in the last session.

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Himachal Futuristic Communications Ltd leads losers in 'A' group

Jun 21 2018 10:36PM

Marksans Pharma Ltd, Balrampur Chini Mills Ltd, Kwality Ltd and Jindal Saw Ltd are among the other losers in the BSE's 'A' group today, 21 June 2018.
Himachal Futuristic Communications Ltd lost 6.33% to Rs 31.8 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 23.95 lakh shares were traded on the counter so far as against the average daily volumes of 22.16 lakh shares in the past one month.
Marksans Pharma Ltd crashed 5.48% to Rs 29.3. The stock was the second biggest loser in 'A' group.On the BSE, 5.61 lakh shares were traded on the counter so far as against the average daily volumes of 6.36 lakh shares in the past one month.
Balrampur Chini Mills Ltd tumbled 5.47% to Rs 67.35. The stock was the third biggest loser in 'A' group.On the BSE, 5.42 lakh shares were traded on the counter so far as against the average daily volumes of 7.59 lakh shares in the past one month.
Kwality Ltd corrected 5.00% to Rs 28.5. The stock was the fourth biggest loser in 'A' group.On the BSE, 13.68 lakh shares were traded on the counter so far as against the average daily volumes of 14.81 lakh shares in the past one month.
Jindal Saw Ltd pared 4.75% to Rs 88.15. The stock was the fifth biggest loser in 'A' group.On the BSE, 2.02 lakh shares were traded on the counter so far as against the average daily volumes of 1.58 lakh shares in the past one month.

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Tree House Education & Accessories Ltd leads gainers in 'B' group

Jun 21 2018 1:01PM

Somi Conveyor Beltings Ltd, Khandwala Securities Ltd, Sumeet Industries Ltd and Transformers & Rectifiers India Ltd are among the other gainers in the BSE's 'B' group today, 21 June 2018.
Tree House Education & Accessories Ltd spiked 19.95% to Rs 10.04 at 11:59 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 99807 shares were traded on the counter so far as against the average daily volumes of 6734 shares in the past one month.
Somi Conveyor Beltings Ltd surged 11.87% to Rs 55.15. The stock was the second biggest gainer in 'B' group. On the BSE, 1.23 lakh shares were traded on the counter so far as against the average daily volumes of 4666 shares in the past one month.
Khandwala Securities Ltd soared 10.00% to Rs 19.25. The stock was the third biggest gainer in 'B' group. On the BSE, 15 shares were traded on the counter so far as against the average daily volumes of 1237 shares in the past one month.
Sumeet Industries Ltd advanced 9.95% to Rs 18.24. The stock was the fourth biggest gainer in 'B' group. On the BSE, 1.03 lakh shares were traded on the counter so far as against the average daily volumes of 1.9 lakh shares in the past one month.
Transformers & Rectifiers India Ltd gained 8.98% to Rs 23.05. The stock was the fifth biggest gainer in 'B' group. On the BSE, 1.8 lakh shares were traded on the counter so far as against the average daily volumes of 16879 shares in the past one month.






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Vakrangee Ltd leads gainers in 'A' group

Jun 21 2018 1:00PM

CG Power & Industrial Solutions Ltd, MphasiS Ltd, PTC India Financial Services Ltd and Astra Microwave Products Ltd are among the other gainers in the BSE's 'A' group today, 21 June 2018.
Vakrangee Ltd surged 4.93% to Rs 50 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 44268 shares were traded on the counter so far as against the average daily volumes of 45.89 lakh shares in the past one month.
CG Power & Industrial Solutions Ltd spiked 4.21% to Rs 55.65. The stock was the second biggest gainer in 'A' group. On the BSE, 7.36 lakh shares were traded on the counter so far as against the average daily volumes of 11.32 lakh shares in the past one month.
MphasiS Ltd soared 3.40% to Rs 1098.05. The stock was the third biggest gainer in 'A' group. On the BSE, 17773 shares were traded on the counter so far as against the average daily volumes of 15203 shares in the past one month.
PTC India Financial Services Ltd rose 3.32% to Rs 18.65. The stock was the fourth biggest gainer in 'A' group. On the BSE, 2.37 lakh shares were traded on the counter so far as against the average daily volumes of 1.6 lakh shares in the past one month.
Astra Microwave Products Ltd advanced 3.30% to Rs 103.3. The stock was the fifth biggest gainer in 'A' group. On the BSE, 40665 shares were traded on the counter so far as against the average daily volumes of 89164 shares in the past one month.

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Volumes jump at Adani Ports & Special Economic Zone Ltd counter

Jun 21 2018 12:59PM

Phoenix Mills Ltd, Infibeam Incorporation Ltd, ITD Cementation India Ltd, Wipro Ltd are among the other stocks to see a surge in volumes on BSE today, 21 June 2018.
Adani Ports & Special Economic Zone Ltd witnessed volume of 553.04 lakh shares by 10:47 IST on BSE, a 140.47 times surge over two-week average daily volume of 3.94 lakh shares. The stock increased 1.91% to Rs.373.00. Volumes stood at 2.86 lakh shares in the last session.
Phoenix Mills Ltd witnessed volume of 1.54 lakh shares by 10:47 IST on BSE, a 79.64 times surge over two-week average daily volume of 1936 shares. The stock increased 1.42% to Rs.638.70. Volumes stood at 1580 shares in the last session.
Infibeam Incorporation Ltd notched up volume of 57.69 lakh shares by 10:47 IST on BSE, a 6.25 fold spurt over two-week average daily volume of 9.23 lakh shares. The stock slipped 0.61% to Rs.154.35. Volumes stood at 9.25 lakh shares in the last session.
ITD Cementation India Ltd witnessed volume of 24155 shares by 10:47 IST on BSE, a 3.41 times surge over two-week average daily volume of 7089 shares. The stock increased 2.05% to Rs.136.65. Volumes stood at 2489 shares in the last session.
Wipro Ltd saw volume of 2.1 lakh shares by 10:47 IST on BSE, a 2.45 fold spurt over two-week average daily volume of 85948 shares. The stock dropped 0.64% to Rs.258.15. Volumes stood at 52160 shares in the last session.

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Volumes jump at Vardhman Textiles Ltd counter

Jun 20 2018 6:40PM

Greaves Cotton Ltd, MAS Financial Services Ltd, Unichem Laboratories Ltd, Merck Ltd are among the other stocks to see a surge in volumes on NSE today, 20 June 2018.
Vardhman Textiles Ltd witnessed volume of 1.75 lakh shares by 14:14 IST on NSE, a 17.89 times surge over two-week average daily volume of 9779 shares. The stock dropped 0.26% to Rs.1,214.75. Volumes stood at 8366 shares in the last session.
Greaves Cotton Ltd clocked volume of 19.5 lakh shares by 14:14 IST on NSE, a 5.4 times surge over two-week average daily volume of 3.61 lakh shares. The stock gained 3.96% to Rs.135.10. Volumes stood at 2.61 lakh shares in the last session.
MAS Financial Services Ltd notched up volume of 4.08 lakh shares by 14:14 IST on NSE, a 5.33 fold spurt over two-week average daily volume of 76659 shares. The stock rose 0.86% to Rs.582.55. Volumes stood at 16216 shares in the last session.
Unichem Laboratories Ltd witnessed volume of 4.41 lakh shares by 14:14 IST on NSE, a 5.24 times surge over two-week average daily volume of 84140 shares. The stock increased 6.11% to Rs.251.00. Volumes stood at 59430 shares in the last session.
Merck Ltd witnessed volume of 1.38 lakh shares by 14:14 IST on NSE, a 3.44 times surge over two-week average daily volume of 40206 shares. The stock increased 4.48% to Rs.2,578.05. Volumes stood at 65286 shares in the last session.

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Unichem Lab spurts after entering in settlement agreement

Jun 20 2018 6:39PM

On the BSE, 58,000 shares were traded in the counter so far, compared with average daily volumes of 14,000 shares in the past two weeks. The stock had hit a high of Rs 258.05 and hit a low of Rs 237.45 so far during the day. The stock had hit a record high of Rs 382 on 8 January 2018. The stock had hit a 52-week low of Rs 231.40 on 5 June 2018.
The small-cap company has equity capital of Rs 14.07 crore. Face value per share is Rs 2.
Unichem Laboratories has entered into a settlement agreement with Eli Lilly & Company and ICOS Corporation to resolve their patent litigation in the United States District Court for the District of New Jersey regarding Unichem's Abbreviated New Drug Application for generic tadalafil (Cialis). Under the settlement agreement, Unichem expects to launch its generic tadalafil product in the United States on or not before 26 March , 2019 under certain circumstances.
On a consolidated basis, Unichem Laboratories reported net loss of Rs 2.38 crore in Q4 March 2018 as compared to net profit of Rs 29.01 crore in Q4 March 2017. Total income rose 30.30% to Rs 281.97 crore in Q4 March 2018 over Q4 March 2017.
Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world.

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Wipro Gallagher Solutions Launches NetOxygen Saas for Loan Origination

May 21 2018 8:27PM

Wipro Gallagher Solutions, a Wipro company announced the launch of its NetOxygen Saas loan origination solution for mortgage lenders.
NetOxygen Saas brings the power of NetOxygen, an enterprise class loan origination system that helps lenders reduce origination costs and boost production efficiency through automation. NetOxygen connects to a front end portal and fintech offerings thus providing seamless interactions to improve borrower experience. NetOxygen Saas enables quicker deployment and scalability to match business growth with an all-inclusive, per transaction pricing, which is based on business outcomes.
NetOxygen Saas provides comprehensive product coverage across mortgage, home equity, HELOC (home equity line of credit) and unsecured credit lines origination. The platform integrates an extensive vendor ecosystem which provides multiple options for standard services like credit, appraisals, fraud checks, etc. NetOxygen Saas supports retail, correspondent and wholesale markets, and also enables niche offerings like construction lending for one close, multiple close, homestyle renovation and FHA construction.

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Phoenix Mills allots 10,000 equity shares

Apr 25 2018 12:58PM

Phoenix Mills has allotted 10,000 equity shares of Rs. 2/- each fully paid-up at an exercise price of Rs. 333.90/- per share to the grantees upon exercise of stock options pursuant to The Phoenix Mills Employees Stock Option Plan 2007.
Consequent upon allotment of the above shares, the equity share capital of the Company stand increased from present level of 15,31,70,351 (Nos.) to 15,31,80,351 (Nos.) equity shares of Rs. 2/- each.

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Lupin receives final approval for Tetrabenazine Tablets

Apr 23 2018 2:12PM

Lupin announced that it has received final approval for its Tetrabenazine Tablets, 125 mg and 25 mg from the United States Food and Drug Administration (FDA) to market a generic version of Valeant pharmaceuticals North America, LLC's Xenazine® Tablets, 12.5 mg and 25 mg.
Lupin's Tetrabenazine Tablets, 12.5 mg and 25 mg are the generic equivalent of Va Ie ant Pharmaceuticals North America, LLC's Xenazine® Tablets, 12.5 mg and 25 mg. It is indicated for the treatment of chorea associated with Huntington's disease.
Tetrabenazine Tablets, 125 mg and 25 mg had annual sales of approximately USD 288.1 million in the US (IQVIA MAT Jan 2018).


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Board of Axis Bank commences succession process

Apr 20 2018 10:56PM

The Board of Axis Bank has commenced the succession process to appoint a new Managing Director & CEO of the Bank. The Board has appointed Egon Zehnder, a global leadership advisory firm, to conduct the succession process and evaluate candidates for the said post. The Board will ensure that the said process will be completed before the end of Shikha Sharma's tenure and thus facilitate smooth transition of leadership responsibilities at the Bank.

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Electrosteel Steels update on resolution plan

Apr 20 2018 10:55PM


Electrosteel Steels announced that as per the resolution plan which was submitted by Vedanta for acquisition of the Company under the provisions of the Insolvency and Bankruptcy Code, 2016, and which was approved by the National Company Law Tribunal (Kolkata Bench) (NCLT) pursuant to its order dated 17 April 2018 (Resolution Plan), on and from the date of approval of the Resolution Plan by the NCLT (i.e. 17 April 2018) until the date on which Vedanta acquires control of the Company as per terms of the Resolution Plan, the Company is required to be monitored by an Independent Managing Authority (IMA) under the instructions, control and management of a Steering Committee.
The Steering Committee has been constituted as per the terms of the Resolution Plan and comprises of majority nominees representing the financial creditors of the Company and minority nominees from Vedanta.
In addition to the above, PricewaterhouseCoopers Private Limited has also been appointed as the IMA by the Steering Committee.
In view of the above, the erstwhile Resolution Professional (i.e. Mr. Dhaivat Anjaria) has handed over the management of affairs of the Company to the IMA, which is acting under the supervision and instructions of the Steering Committee.

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Board of Visco Trade Associates approves change in directorate

Apr 18 2018 10:47PM


Visco Trade Associates announced that the Board of Directors of the company at its meeting held on 18 April 2018 has approved the matter relating for the resignation of Debasish Roy –Director (DIN- 00661173) and appointment of Dipak Sundarka- Additional Independent Director (DIN-05297111) of the Company for the period of 5 years w.e.f 18 April 2018 interalia to consider, approved and take on record.

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Board of Mindtree approves change in directorate

Apr 18 2018 10:47PM

The Board of Mindtree has approved and recommended the appointment of Bijou Kurien, as Independent director of the Company for a term of three years from 17 July 2018. The Board accepted the resignation of Manisha Girotra, Independent Director, due to pre-occupation, with immediate effect.

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BOI AXA Midcap Tax Fund – Series 1 Announces Dividend

Dec 4 2017 6:11PM

BOI AXA Mutual Fund has launched a new fund named as BOI AXA Midcap Tax Fund – Series 1, a 10 year closed-ended equity linked savings scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 10 November 2017 to 09 February 2018.The scheme seeks to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related securities of midcap companies along with income tax benefit.The scheme offers growth and dividend options under both regular plan and direct plan. Dividend option has dividend payout facility.The scheme shall invest 65%-100% of assets in madcap equity & equity related securities such as cumulative convertible preference shares and fully convertible debentures and bonds of companies etc. and invest upto 35% of assets in other equity & equity related securities such as cumulative convertible preference shares and fully convertible debentures and bonds of companies etc. with high risk profile and invest upto 35% of assets in debt & money market instruments with low to medium risk profile.Minimum application amount is Rs 500 and in multiples of Rs 500 thereafter.Entry load & entry load: NilBenchmark Index for the scheme is Nifty Midcap 100 Index.The fund manager of the scheme is Alok Singh


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Edelweiss Fixed Maturity Plan – Series 49 Floats On

Jun 19 2018 10:00PM

Edelweiss Mutual Fund has launched a new fund named Edelweiss Fixed Maturity Plan – Series 49, a close ended Income scheme. The tenure of the scheme is 1119 days from the date of allotment. The new issue will be open for subscription from 20 June 2018 to 27 June 2018.
The investment objective of the scheme is to generate income through investment in Debt and Money Market Securities maturing on or before the Maturity Date of the Scheme.
The scheme offers growth and dividend payout option.
The scheme would invest 80% - 100% of its assets in debt Securities with Low to Medium risk profile, upto 20% of its assets in money market Securities with low risk profile.
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 load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Short Term Bond Fund Index.
The fund manager of the scheme is Gautam Kaul and Rahul Dedhia.

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Sundaram Fixed Term Plan – IJ Floats On

Jun 19 2018 9:59PM


Sundaram Mutual Fund has launched a new fund named as Sundaram Fixed Term Plan – IJ, a close ended income scheme with the duration of 1099 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 19 June and closes on 26 June 2018.
The objective of the Scheme would be to generate income by investing in debt and money market securities, which mature on or before the maturity of the scheme.
The scheme offers growth and dividend payout options.
The scheme will allocate upto 30% of assets in money market instruments including bills rediscounting & cash equivalents and 70% - 100% of assets in short term & medium term debt instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: Not applicable.
The scheme's performance will be benchmarked against Crisil Short Term Bond Fund Index.
The scheme will be managed by Sandeep Agarwal.

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Essel Multi Cap Fund Floats On

Jun 18 2018 4:34PM


Essel Mutual Fund has launched a new fund named as Essel Multi Cap Fund, an open-ended equity scheme investing in large cap, mid cap and small cap companies. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 18 June to 2 July 2018.
The investment objective of the scheme is to seek to generate capital appreciation in the long term through equity investments by investing in a diversified portfolio of large cap, mid cap and small cap companies as defined by SEBI from time to time. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.
The scheme offers growth & dividend option (Reinvestment / Payout) under both regular and direct plan.
Dividend Frequency: Normal, Monthly, Quarterly, Half yearly & Annual
The scheme would allocate 65%-100% of assets in equity & equity related securities of companies that are likely to benefit either directly or indirectly from large, mad and small cap with high risk profile, upto 35% of assets in money market instruments / debt securities, instruments and / or units of debt / liquid schemes of domestic mutual funds with low to medium risk profile, upto 10% of assets investment in REITs and InvITs others with medium to high.
The minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.
The minimum additional purchase amount is Rs 100 and in multiples of Re 1 thereafter.

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IDFC Fixed Term Plan Series – 153 Floats On

Jun 18 2018 4:32PM

IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series – 153, a close ended income scheme. The tenure of the scheme is 174 days from the date of allotment. The new issue will be open for subscription from 21 June 2018 to 21 June 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, periodic dividend options and default option.
The scheme would invest upto 100% of its assets in debt and money market instruments with low to medium risk profile.
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 load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Short-Term Bond Fund Index
The fund manager of the scheme is Harshal Joshi

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Invesco India Equity & Bond Fund Floats On

Jun 13 2018 7:36PM

Invesco Mutual Fund has launched a new fund named as Invesco India Equity & Bond Fund, an open ended hybrid scheme investing predominantly in equity & equity related instruments. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 June to 25 June 2018.
The investment objective of the scheme is to generate capital appreciation and current income by investing in equity & equity related instruments as well as debt securities.
The scheme offers growth & dividend option (Reinvestment / Payout) under both regular and direct plan.
The scheme would allocate 65%-80% of assets in equity & equity related instruments with high risk profile and invest 20%-35% of assets in debt & money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Nil
Exit Load: 1%, If redeemed / switched out on or before 1 year from the date of allotment
Nil, If redeemed / switched out after 1 year from the date of allotment. The scheme will be listed on the NSE.
Benchmark Index for the scheme will be CRISIL Hybrid 35+65 Aggressive Index.
The fund managers for the scheme are Taher Badshah, Amit Ganatra and Krishna Cheemalapati.

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Mirae Asset Healthcare Fund Floats On

Jun 13 2018 7:35PM

Mirae Asset Mutual Fund has launched a new fund named as Mirae Asset Healthcare Fund, an open ended equity scheme investing in healthcare and allied sectors. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 June to 25 June 2018.
The investment objective of the scheme is to seek to generate long term capital appreciation through investing in equity and equity related securities of companies benefiting directly or indirectly in Healthcare and allied sectors in India.
The scheme offers growth & dividend option (Reinvestment / Payout) under both regular and direct plan.
The scheme would allocate 80%-100% of assets in equity & equity related securities of companies that are likely to benefit either directly or indirectly from healthcare and allied sectors with high risk profile, upto 20% of assets in other equities and equity related securities of companies in India with high risk profile and invest upto 20% of assets in money market instruments / debt securities, instruments and / or units of debt / liquid schemes of domestic mutual funds with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Nil
Exit Load: 1%, If redeemed within 1 year (365 days) from the date of allotment
Nil, If redeemed after 1 year (365 days) from the date of allotment.
Benchmark Index for the scheme is S&P BSE Healthcare Index.
The fund managers for the scheme are Vrijesh Kasera and Neelesh Surana.

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DSP BlackRock FMP – Series 230 – 9M Floats On

May 24 2018 2:35PM

DSP BlackRock Mutual Fund has launched a new fixed maturity plan named as DSP BlackRock FMP – Series 230 – 9M, a close-ended income scheme with the duration of 9 months 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 23 May to 24 May 2018.
The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities, which mature on or before the date of maturity of the scheme.
The scheme offers a choice of two options, growth option and dividend payout with regular payout and Quarterly payout option. The scheme would allocate upto 100% of assets in debt and money market securities with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: Not applicable.
Benchmark Index for the scheme is CRISIL Liquid Fund Index.
The fund managers of the scheme are Laukik Bagwe and Pankaj Sharma.

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Kotak Equity Arbitrage Scheme Announces Dividend

May 23 2018 2:10PM


Kotak Mutual Fund has announced 28 May 2018 as the record date for declaration of dividend under the bimonthly dividend option of Kotak Equity Arbitrage Scheme, an open ended equity growth scheme. The amount of dividend on the face value of Rs 10 per unit will be:
Regular Plan-Bimonthly Dividend Option: Re 0.2137
Direct Plan – Bimonthly Dividend Option: Re 0.2339

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Indian Rupee: Dips Lower On Fresh Dollar Buying

Jun 21 2018 1:05PM

The Indian rupee dipped lower against the dollar in early trades on Thursday, 21 June 2018 due to fresh buying of the American currency by importers amid sustained foreign fund outflows. Dollar hovering near an 11-month high against a basket of currencies overseas, supported by a rise in US yields, also weighed on the rupee but a higher opening of the domestic equity markets limited the fall.
The domestic currency slipped 16 paise to 68.24 against the US dollar in early trade today after opening at 68.1650. The local unit recovered to a high of 68.1350 so far during the day and was last seen trading at 68.19 in the spot currency market. Yesterday, the local currency had staged a good comeback to end with a sharp gain of 30 paise at 68.08 against the US currency on heavy bouts of dollar selling by banks and exporters with equities gaining ground.
Domestic benchmark indices were trading with small gains in early trade. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 87.86 points or 0.25% at 35,635.19. The Nifty 50 index was up 24.45 points or 0.23% at 10,796.50. Overseas, Asian stocks were mixed driven by uncertainty surrounding trade relations between the world's two largest economies. US stock closed mostly higher Wednesday, though the Dow Jones Industrial Average posted its seventh consecutive daily decline.
Meanwhile, the dollar hovered near an 11-month high against a basket of currencies on Thursday, supported by a rise in U.S. yields, while the pound was at its lowest level since November 2017 ahead of a Bank of England monetary policy decision. The dollar index DXY against a group of six major currencies stood at 95.243 after rising to 95.299 overnight, its highest since mid-July 2017. Buoying the greenback, long-term Treasury yields bounced back from three-week lows, as risk aversion felt earlier in the week amid United States-China trade tensions eased for now.

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Jeera Futures Facing Consistent Selling Around Rs 17K

Jun 21 2018 1:04PM

NCDEX Jeera futures have been facing consistent selling pressure around its contract high of Rs 17000 per quintal. The commodity has gained in last few days on steady buying support following weak supplies in ready markets. Export demand is likely holding up and buying is continuing to lift the futures to fresh contract highs. The benchmark NCDEX July 2018 futures contract edged up after repetitively testing lows near Rs 16100 per quintal mark last week. The futures hit Rs 17K yesterday before easing and saw a similar move in early trades today. The counter edged up near Rs 16950 per quintal levels before witnessing a corrective move that took off more than Rs 200 from the counter in less than an hour. The counter currently trades at Rs 16790 per quintal, down 0.30% on the day. The supplies have been lingering in a range of around 10000-12000 bags in Unjha and the trend is likely to remain the same as rainy season continues. The Jeera harvest period in India for jeera starts around February-March and next few months see good arrivals. Supplies tend to wane after the monsoons start. As such, the next few weeks are likely to see muted trades in spot markets though prices are expected to stay elevated.

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CME Agri Derivatives Open Interest Hits Record High

Jun 21 2018 1:03PM

CME Group, the leading derivatives exchange globally, has announced that it reached an all-time daily open interest record of 10,054,696 agricultural futures and options contracts on June 19, 2018. The previous open interest record was 10,042,694 contracts, set on June 15, 2018. In addition, CME Group's suite of agricultural futures and options reached an all-time daily volume record of 3,197,646 agricultural futures and options contracts traded on June 19, surpassing the previous record of 3,002,818 contracts set on April 4, 2018. A record 752,425 Grain and Oilseed options contracts were traded on June 19, surpassing the previous record of 730,505 contracts set on June 26, 2015. A record 363,729 Corn options contracts were traded on June 19, surpassing the previous record of 326,324 contracts set on June 21, 2016. A record 3,720 large open interest holders (LOIH) reached on May 29, surpassing the previous record of 3,691 LOIHs on May 1, 2018. Total of 446,526 combined agricultural futures and options contracts traded outside of US trading hours, the second highest of 2018. Year-to-date, CME Group agricultural futures and options average daily volume has increased 23% to 1.6 million contracts per day.

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Eurozone Construction Output Advances In April

Jun 19 2018 10:01PM

Eurozone construction output recovered 1.8 percent month-over-month in April, reversing a revised 0.2 percent drop in March, data from Eurostat showed Tuesday. Moreover, this was the sharpest rate of growth since February 2017, when output had risen 5.7 percent. Output of civil engineering activity grew 4.0 percent over the month and building output gained by 1.0 percent. On a yearly basis, growth in construction output accelerated to 1.8 percent in April from 1.2 percent in the prior month, which was revised up from 0.8 percent reported earlier.

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Katanga's Settlement Agreement with Gécamines becomes effective

Jun 18 2018 12:59PM

Glencore refers to its announcement on 12 June, 2018 with regard to the Settlement Agreement entered into by Katanga Mining Limited with La Générale des Carrières et des Mines for the resolution of the capital deficiency at Katanga's 75% owned DRC operating subsidiary Kamoto Copper Company. Glencore confirms that the condition precedent to the Settlement Agreement has now been fulfilled. The Settlement Agreement is therefore unconditional and effective.
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities. With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

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Gold Speculative LongsSee Modest Increase

Jun 18 2018 12:59PM

Large precious metals speculators added to their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 120,240 contracts in the data reported through Tuesday June 12th. This was a weekly rise of 8,824 contracts. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -140,587 contracts on the week. This was a weekly fall of -6,240 contracts. 


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Indian Rupee: Lingers Within 68/$ Mark As Dollar Strength Continues

Jun 18 2018 12:58PM

The Indian rupee weakened further against the dollar in early trades on Monday, 18 June 2018, to hit a fresh three-week low of 68.16, owing to appreciation of the American currency overseas amid sustained foreign capital outflows. The dollar's rise towards a seven-month high against a basket of its peers, as investors absorbed the escalation in trade tensions between the US and China, weighed on the rupee. However, a higher opening in the domestic equity market capped the losses.
The domestic currency weakened by 14 paise to 68.15 and dipped to a low of 68.16 before recovering to a high of 68.0025 so far during the day. In the spot, currency market, the Indian unit was last seen trading at 68.0175, still lingering within the 68 mark. The rupee had closed below the key 68-mark to end at 68.01 against the US currency in the previous session on Friday after the country's trade deficit widened more than expected amid renewed global trade war fears.
Domestic benchmark indices were trading lower in early trade due to negative global cues. At 9:19 IST, the barometer index, the S&P BSE Sensex, was down 13.29 points or 0.04% at 35,608.85. The Nifty 50 index was down 4.05 points or 0.04% at 10,813.65.
Overseas, Asian shares fell as investors digested the escalation in trade tensions between the US and China after both countries announced tariffs last week. Markets in China, Hong Kong, Taiwan and Indonesia were closed on Monday for holidays. Trump administration last week said it will impose a 25% tariff on a list of 818 items of Chinese goods worth around $34 billion beginning 6 July. Measures affecting an additional 284 products worth $16 billion will be subject to review before taking effect.
Meanwhile, the dollar edged up towards a seven-month high against a basket of its peers on Monday after the market digested a flurry of news, although U.S.-China trade tensions slowed its gains. The dollar index versus a basket of six major currencies crept up 0.1 per cent to 94.882. The index was in reach of 95.131, a seven-month peak scaled on Friday when it soared more than 1 per cent last week after the US Federal Reserve gave a hawkish signal on interest rates while the European Central Bank struck a dovish tone.


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Odisha Has Potential To Produce 100 Million Tonnes Of Steel In Coming Decade

Jun 13 2018 7:33PM


Union Minister of Steel Chaudhary Birender Singh visited Kalinganagar and interacted with MDs/CEOs of major steel producing units located in the State of Odisha yesterday. In his remarks, the Minister stated that India has become the second largest steel producing country. In the financial year 2017-18, India produced more than 100 million tonnes of steel. Indian Steel Industry has come out of the difficulties faced during 2014-15 and 2015-16 due to various policy interventions by the Government of India. National Steel Policy and DMI&SP Policy were notified during 2017 giving direction and fillip to the domestic industry.
Odisha is a major steel producing State contributing more than half of steel production in the country. It is rich in minerals and mines and has a potential to produce 100 million tonnes of steel out of 300 million tonnes envisaged in National Steel Policy by the year 2030-31. Kalinganagar is a major industrial hub. Around 15 steel plants are located in this region which include public sector plants like NINL and private sector plants like TATA Steel, Jindal Stainless Limited, Visa Steel and MESCO. To achieve the common objective of producing 300 million tonnes by 2030, enhanced production from Kalinganagar and Odisha State is important. The Minister expressed the hope that Kalinganagar will develop potential for downstream facilities which include ferro alloy plants, duct iron pipes, steel furniture, power component manufacturing as well as stainless steel units.
Industry representatives spoke about increased need for utilizing iron ore fines for pellet manufacturing so that precious iron ore can be preserved. The Minister also discussed in detail the challenges to the growth of Indian Steel Industry, such as logistics in terms of development of ports and increasing capacity of Indian railways, creating dedicated freight corridors to move raw materials as well as finished goods. The Steel Minister expressed confidence that both Central Government and State government together find solutions at policy and operational level to achieve higher level of production in Odisha.

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Post-Session: Sensex, Nifty settle with modest losses

Jun 21 2018 10:35PM

Key benchmark indices ended with modest losses as negative global cues spoiled sentiment. The barometer index, the S&P BSE Sensex, fell 114.94 points or 0.32% to settle at 35,432.39. The Nifty 50 index fell 30.95 points or 0.29% to settle at 10,741.10. Most pharma shares declined. Capital goods stocks fell.
Intraday volatility was high. Stocks opened higher and hit fresh intraday high in early trade. Indices reversed trend in morning trade and hit fresh intraday low in early afternoon trade. Key bgenchmark indices once again regained positive zone after hitting intraday low in early afternoon trade. Indices turned almost flat in mid-afternoon trade. A fresh bout of selling pressure dragged indices to the day's low in late trade.
The barometer index, the S&P BSE Sensex, fell 114.94 points or 0.32% to settle at 35,432.39. The Sensex rose 131.36 points, or 0.37% at the day's high of 35,678.69 in early trade. The index fell 150.36 points, or 0.42% at the day's low of 35,396.97 in late trade.
The Nifty 50 index fell 30.95 points or 0.29% to settle at 10,741.10. The Nifty rose 37.55 points, or 0.35% at the day's high of 10,809.60 in early trade. The index fell 46.15 points, or 0.43% at the day's low of 10,725.90 in late trade.
Among secondary barometers, the BSE Mid-Cap index fell 0.53%. The BSE Small-Cap index fell 0.79%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On BSE, 830 shares rose and 1764 shares fell. A total of 138 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Oil & Gas index (up 0.6%), the S&P BSE IT index (down 0.12%), the S&P BSE Teck index (down 0.31%) outperformed the Sensex. The S&P BSE Healthcare index (down 1.11%), the S&P BSE Capital Goods index (down 1.09%), the S&P BSE Metal index (down 0.98%) underperformed the Sensex.
Mahindra & Mahindra (down 2.11%), ONGC (down 1.9%), Power Grid Corporation of India (down 1.88%), State Bank of India (down 1.67%) and Asian Paints (down 1.39%) were the major Sensex losers.
ICICI Bank (up 1.47%), Reliance Industries (up 1.22%), HDFC (up 0.35%), Tata Motors (up 0.31%) and Infosys (up 0.24%) were the major Sensex gainers.
Most pharma shares declined. Wockhardt (down 3.56%), Dr Reddy's Laboratories (down 2.21%), Lupin (down 0.11%), Sun Pharmaceutical Industries (down 1.67%), GlaxoSmithKline Pharmaceuticals (down 1.2%) and Aurobindo Pharma (down 1.24%) edged lower. Glenmark Pharmaceuticals (up 1.93%), Cadila Healthcare (up 0.12%) and Alkem Laboratories (up 0.14%) rose.
Cipla fell 0.31%. Cipla today announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Testosterone Cypionate Injection 100mg/ml and 200mg/ml from the United States Food and Drug Administration (US FDA). The announcement was made before market hours today, 21 June 2018.
Cipla's Testosterone Cypionate Injection 100mg/ml and 200mg/ml is AO-rated generic therapeutic equivalent version of Pharmacia and Upjohn's DepoTestosterone. It is indicated for replacement therapy in males in conditions associated with symptoms of deficiency or absence of endogenous testosterone.
According to IQVIA (IMS Health), Depo-Testosterone and its generic equivalents had US sales of approximately $191 million for the 12-month period ending April 2018. The product is available for shipping immediately.
Capital goods stocks declined. BEML (down 2.07%), Bharat Electronics (down 1.97%), L&T (down 1.28%), Punj Lloyd (down 2.07%), Siemens (down 0.69%) and Thermax (down 1.91%) fell. ABB India (up 0.31%) and Bharat Heavy Electricals (Bhel) (up 0.47%) rose.
InterGlobe Aviation rose 3.45%. With respect to media reports indicating that the Enforcement Directorate has summoned the company's top management for foreign exchange management act (FEMA) violation, InterGlobe Aviation clarified that it has not received any such summons. The announcement was made after market hours yesterday, 20 June 2018.
Majesco gained 1.4%. Majesco announced that NTUC Income (Income), a leading insurance company and the only insurance co-operative in Singapore, has selected the Majesco Distribution Management and Majesco Digital Solutions to optimize management of its sales and distribution channels across the insurance business. The announcement was made after market hours yesterday, 20 June 2018.
Lakshmi Vilas Bank shed 0.17%. The board of directors of Lakshmi Vilas Bank scheduled a board meeting on 26 June 2018 to consider further issue of equity shares or equity linked securities of the bank through one or more modes including but not limited to Qualified Institutions Placement/ American Depository Receipts/ Global Depository receipts and, raising of funds by issue of bonds/ debentures/ or other debt securities of the bank on private placement basis. The announcement was made during market hours today, 21 June 2018.
On the macro front, the government has reportedly increased import duties on some agricultural and steel products that are imported from the US in retaliation against Washington's new global tariffs on steel and aluminium. The revised tariff will come into effect from 4 August 2018, reports added.
Meanwhile, the Reserve Bank of India (RBI) on Wednesday, 20 June 2018, released the minutes of the Monetary Policy Committee (MPC) meeting held between 4-6 June 2018. All six members of the MPC maintained their neutral policy stance and also voted in favour of a repo rate increase of 25 basis points to 6.25%, revealed the minutes of the meeting.
According to the minutes, RBI governor Urjit Patel said inflation risks have increased since the April policy. Patel, therefore, voted for an increase in the policy repo rate by 25 basis points. In view of prevailing uncertainties, it is apposite to maintain the neutral stance so as to respond to the evolving situation in a flexible manner, he added.
Among the internal members, deputy governor Viral Acharya said that there were considerable uncertainties around oil and food prices as well as the playing out of trade wars and global financial market outcomes, and voted for continuing with the neutral stance. The third RBI member Michael Patra pushed for front-ending rate hikes on the grounds that there is a closing sliver of opportunity to do so.
Overseas, European markets were trading lower against a backdrop of growing tensions in the oil market ahead of an OPEC meeting that could expand crude production.
Most Asian stocks declined, driven by uncertainty surrounding trade relations between the world's two largest economies. US stock closed mostly higher Wednesday, though the Dow Jones Industrial Average posted its seventh consecutive daily decline.
Focus is largely centered on a meeting of major oil producers taking place in Vienna. Oil-producing nations appeared to inch closer to an output agreement Wednesday although a final decision is not due until Friday. Energy ministers have gathered in the Austrian capital to determine the future of OPEC's 18-month-old agreement with Russia and other allied partners to limit production.
The US current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5% of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4% in the fourth quarter.
Existing-home sales ran at a seasonally-adjusted annual 5.43 million rate in May, down 0.4% from April, the National Association of Realtors said Wednesday.

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LME Inventory

Apr 12 2017 1:51PM

       COPPER: -850 MT

       ZINC: -1850 MT

       LEAD: -1025 MT

       NICKLE: -1194 MT

       ALUMINIUM: -13575 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]