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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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PSU OMCs, upstream oil firms edge higher

Aug 21 2014 12:18PM

Shares of PSU OMCs viz. HPCL (up 1.85% at Rs 455.95), Indian Oil Corporation (up 1.15% at Rs 359.40), and BPCL (up 0.81% at Rs 673.70) edged higher.

Shares of upstream oil & gas producers viz. GAIL (India) (up 1.39% at Rs 434.65), ONGC (up 1.04% at Rs 428.20), and Oil India (up 0.93% at Rs 607) edged higher.

Meanwhile, the S&P BSE Sensex was up 70.35 points or 0.27% at 26,384.64.

Oil Secretary Saurabh Chandra reportedly said on Wednesday, 20 August 2014, that the under-recoveries of oil companies will come down substantially in the current fiscal ending 31 March 2015 (FY 2015) on account of better pricing and stable global crude prices. The under-recoveries are expected to come below Rs 1 lakh crore this fiscal as against Rs 1.40 lakh crore last fiscal. The expected substantial contraction in the under-recoveries will come on the back of reducing gap in the pricing of petroleum products.

Public sector oil marketing companies (PSU OMCs) -- BPCL, HPCL and Indian Oil Corporation -- suffer revenue loss on domestic sale of diesel, LPG and kerosene at a controlled price. The government has adopted the policy of gradually increasing diesel prices to eliminate under recovery and deregulate the diesel prices. The government has already freed pricing of petrol.

Meanwhile, upstream oil producers ONGC, Oil India and GAIL (India) absorb part of the under-recoveries of state-run PSU OMCs.

The under-recovery on High Speed Diesel (HSD) applicable for second fortnight of August 2014, effective from 16 August 2014, will go up to Rs 1.78 per litre. This was Rs 1.33 per litre during first fortnight of August 2014. In the case of PDS Kerosene and Domestic LPG, the under-recoveries for the second fortnight of August 2014 will be Rs 32.98 per litre (Rs 32.98 per litre in first fortnight) and Rs 447.87 per cylinder (Rs 447.87 per cylinder in first fortnight) respectively. Effective from 16 August 2014, PSU OMCs are incurring combined daily under-recovery of about Rs 230 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is higher than Rs 226 crore daily under-recoveries during first fortnight of August. The under-recoveries for the financial year 2014-15 are projected to be Rs 91665 crore while the figure was Rs 1.39 lakh crore in 2013-14.

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Titan Company hits record high after brokerage upgrade

Aug 21 2014 12:18PM

The stock hit a high of Rs 369 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 347.60 so far during the day. The stock hit a 52-week low of Rs 203 on 30 January 2014.

The stock had outperformed the market over the past one month till 20 August 2014, rising 5.04% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.22% as against Sensex's 7.95% rise.

The large-cap company has an equity capital of Rs 88.78 crore. Face value per share is Re 1.

The foreign brokerage cited conviction in the strength of Titan Company's Tanishq jewellery brand and its potential to gain market share.

Titan Company's net profit fell 2.86% to Rs 177.27 crore in 7.28% decline in total income to Rs 2916.84 crore Q1 June 2014 over Q1 June 2013.

Titan Company (earlier known as Titan Industries) is India's leading producer and retailer of watches, jewellery and eyewear.

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Venus Remedies extends Wednesday's gains

Aug 21 2014 12:17PM

The stock hit a high of Rs 271.05 and a low of Rs 264.70 so far during the day. The stock had hit a 52-week high of Rs 350 on 28 April 2014. The stock had hit a 52-week low of Rs 162.30 on 20 August 2013.

The stock had underperformed the market over the past one month till 20 August 2014, sliding 0.77% compared with Sensex's 2.62% rise. The scrip had also underperformed the market in past one quarter, declining 14.41% as against Sensex's 7.95% rise.

The small-cap company has equity capital of Rs 11.44 crore. Face value per share is Rs 10.

Shares of Venus Remedies have risen 6.9% in two trading sessions from a recent low of Rs 249.85 on 19 August 2014, after the company during market hours on Wednesday, 20 August 2014 said it has received marketing authorisation from Swiss drug authority for anti-cancer drug Gemcitabine. The stock had jumped 5.3% to settle at Rs 263.10 on Wednesday, 20 August 2014.

Venus Remedies said it received its first marketing authorization (MA) in Switzerland from Swiss drug authority (Swissmedic) for Gemcitabine 200 milligram (mg) & 1 gram injection through Venus Pharma GmbH. This market approval of critically important oncology drug Gemcitabine injection will help Venus to strengthen its oncology portfolio. The company is planning to launch this product in early next quarter within this fiscal year to expand its presence in the oncology space. Venus Pharma GmbH the German subsidary will carry out complete analysis of the goods. The product will be launched in Switzerland market by Swiss Pharma GmbH with whom Venus has a marketing tie up, the company said in a statement.

Venus Remedies' net profit fell 33.05% to Rs 10.25 crore on 4.61% decline in net sales to Rs 120.81 crore in Q1 June 2014 over Q1 June 2013.

Venus Remedies is a fully integrated pharmaceutical company. It manufactures products in critical care segments such as anti cancer, anti infective, neurology, skin & wound care, and pain management.

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Glenmark Pharma hits record high

Aug 20 2014 11:46AM

The stock hit a high of Rs 749.05 so far during the day, which is a record high for the counter. The stock hit a low of Rs 726 so far during the day.

Glenmark Pharmaceuticals S.A. (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals India (GPL), announced the discovery and initiation of IND enabling studies of a novel clinical development candidate, GBR 1302, a HER2xCD3 bispecific antibody. GBR 1302 was discovered and developed by the Glenmark Biologics Research Centre located in La Chaux-de-Fonds, Switzerland. GBR 1302 is based on Glenmark's innovative BEAT antibody technology platform which facilitates the efficient development and manufacture of antibodies with dual specificities, so-called bispecific antibodies. GBR 1302 is the first clinical development candidate based on the BEAT technology. Glenmark expects to obtain approval for the initiation of clinical studies during this financial year.

Commenting on this milestone, Dr. Michael Buschle, Chief Scientific Officer & President - Biologics, Glenmark Pharmaceuticals mentioned "GBR 1302 is significant for Glenmark on multiple levels: It is our first bispecific antibody, it is our first antibody based on our proprietary BEAT antibody engineering platform and it represents the entry of Glenmark into the Oncology innovator space, which has a huge commercial potential."

Glenmark Pharmaceuticals' consolidated net profit surged 43.7% to Rs 184.85 crore on 19.4% growth in net sales to Rs 1477.82 crore in Q1 June 2014 over Q1 June 2013.

Glenmark Pharmaceuticals (GPL) has a significant presence in branded generics markets across emerging economies including India. GPL along with its subsidiary has 14 manufacturing facilities in four countries and has six R&D centers. Its subsidiary, Glenmark Generics services the requirements of the US and Western Europe generics markets. The API business sells its products in over 80 countries, including the US, various countries in the EU, South America and India.

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Pharma stocks advance on weak rupee

Aug 20 2014 11:45AM

Glenmark Pharmaceuticals (up 3.14% at Rs 742.05), Aurobindo Pharma (up 2.1% at Rs 784.05), Ranbaxy Laboratroes (up 2.02% at Rs 614), Piramal Enterprises (up 2% at Rs 714.75), Sun Pharmaceutical Industries (up 1.83% at Rs 824.35), Biocon (up 1.78% at Rs 480.05), Wockhardt (up 1.66% at Rs 710.90), Divi's Laboratories (up 1.66% at Rs 1,514.75), Dr Reddy's Laboratories (up 1.37% at Rs 2,863.05.), Lupin (up 1.03% at Rs 1,228.95), Cadila Healthcare (up 0.96% at Rs 1,203.50), Cipla (up 0.79% at Rs 477.70), and IPCA Laboratories (up 0.4% at Rs 734) edged higher.

Meanwhile, the S&P BSE Sensex was down 33.32 points or 0.13% at 26,387.35.

Pharma stocks advanced as the rupee edged lower against the dollar today, 20 August 2014. Weakness in rupee could boost sales of pharma companies in rupee terms as pharma firms derive substantial revenue from exports.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 60.85, compared with its close of 60.685 on Tuesday, 19 August 2014.

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Dr Reddy's Labs gains as market shares of key drugs rises in US

Aug 20 2014 11:44AM

The stock hit a high of Rs 2,870.60 and a low of Rs 2,829 so far during the day. The stock hit a record high of Rs 2,939.80 on 28 February 2014. The stock hit a 52-week low of Rs 2,025 on 21 August 2013.

The stock had outperformed the market over the past one month till 19 August 2014, rising 6.81% compared with 3.04% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 23.71% as against Sensex's 8.45% rise.

The large-cap company has an equity capital of Rs 85.17 crore. Face value per share is Rs 5.

Dr Reddys Laboratories said global generics segment's revenues from North America (the United States and Canada) rose 51% to Rs 1646.80 crore in the three months ended 30 June 2014 over the three months ended 30 June 2013.

In US dollar absolute currency terms (i.e., US dollars without taking into account the effect of currency exchange rates), such revenues increased by 43% in the three months ended 30 June 2014 as compared to the three months ended 30 June 2013.

This growth was largely attributable to revenues from new products launched between 1 July 2013 and 30 June 2014, such as decitabine, azacitidine and divalproex sodium ER; and gain in market shares of existing products, such as metoprolol succinate, fexofenadine, atorvastatin and ziprasidone.

The company said its global generics segment's revenues from Russia for the three months ended 30 June 2014 were Rs 419.80 crore, an increase of 15% as compared to the three months ended 30 June 2013.

The company's global generics segment's revenues from 'Rest of the World' markets were Rs 221.60 crore for the three months ended 30 June 2014, an increase of 50% as compared to the three months ended 30 June 2013. The growth was primarily attributable to sales volume growth in Venezuela and new products launched between 1 July 2013 and 30 June 2014.

The company's global generics segment's revenues from Europe were Rs 145.90 crore for the three months ended 30 June 2014, a decline of 7% as compared to the three months ended 30 June 2013. Revenues have declined primarily on account of reduced sales in Germany, which was mainly due to our reduced participation in the competitive bidding tenders sponsored by statutory health insurance funds and other health insurance providers.

On a consolidated basis, Dr Reddy's Laboratories' net profit surged 52.49% to Rs 550.39 crore on 23.6% growth in net sales to Rs 3517.54 crore in Q1 June 2014 over Q1 June 2013.

Dr Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr Reddy's offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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SpiceJet bounces back on bargain hunting

Aug 14 2014 12:13PM

The stock hit a high of Rs 12.30 and a low of Rs 11.44 so far during the day. The stock had hit a 52-week low of Rs 11.10 on Wednesday, 13 August 2014. The stock had hit a 52-week high of Rs 26.65 on 12 August 2013.

Shares of SpiceJet had tumbled 17.4% in four trading sessions to settle at Rs 11.25 on Wednesday, 13 August 2014, from a recent high of Rs 13.62 on 7 August 2014. The recent slide in the stock price was triggered by a series of reports doing rounds in the media.

As per the report, the Directorate General of Civil Aviation (DGCA) had instructed SpiceJet to refund meal charges and airfares to passengers inconvenienced by a delayed flight in June.

Another report alleged that not only had the SpiceJet's employees not been given their Form 16 detailing the tax deducted from their salaries, but that the airline had not deposited the deducted tax with the authorities at all.

Last Friday, one more news report said that the promoter Maran was actively looking to offload majority stake in the airline in view of its faltering performance. SpiceJet, however, during market hours on Friday, 8 August 2014 in a clarification said that it has received clarification from its promoters that there is no truth in the aforesaid news report.

Earlier there were also reports that the cash-strapped airlines had resorted to using mechanical parts from its grounded aircraft to service the flying fleet and that DGCA was keen to carry out an engineering audit. However, SpiceJet had on 31 July 2014 in a clarification said that there is no safety audit that has been ordered on the company by the DGCA. The safety and security of operations is of utmost importance to the company and it is fully compliant with all safety regulations, SpiceJet said at that time.

Meanwhile, SpiceJet on Wednesday, 13 August 2014 inaugurated its first flight connecting Kolkata- Bagdogra-Kathmandu. This flight will operate three times a week -- on Mondays, Wednesdays and Fridays, the company added.

Mr. Kaneswaran Avili, Chief Commercial Officer, SpiceJet said, "We are extremely pleased with the response received for our Kathmandu-Bagdogra-Kolkata connection. This direct service will provide our customers flying from either regions much more convenience in terms of connectivity and reach".

SpiceJet reported a net loss of Rs 321.51 crore in Q4 March 2014, higher than net loss of Rs 185.72 crore in Q4 March 2013. Net sales rose 9.4% to Rs 1573.41 crore in Q4 March 2014 over Q4 March 2013.

SpiceJet is India's low fare airline. As on 30 June 2014, promoters held 53.48% stake in SpiceJet.

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Lanco Infratech, Adani Power edge higher

Aug 14 2014 12:12PM

The Lanco Udupi power plant has already signed with Karnataka Government for further expansion of 1,320 megawatts (MW).

The imported coal based thermal power plant of Lanco in Udupi, which supplies 90% of the power generated to Karnataka and 10% to Punjab, is the first independent power project in the country based on 100% import coal with a captive jetty of 4 million tons per annu and an external coal handling system in the new Mangalore Port Trust. The capacity can be, if required, expanded to handle another 4 million ton capacity, Lanco Infratech said in a statement.

For Lanco Infratech, this transaction will support the company in reducing its debt and will enable Lanco to receive about Rs 2000 crore as cash and additionally, Adani Power will take Udupi Power's long-time debt of around Rs 4000 crore, Lanco Infratech said in a statement.

Lanco Infratech reported a consolidated net loss of Rs 584.29 crore in Q4 March 2014, higher than net loss of Rs 31.59 crore in Q4 March 2013. Net sales declined 24% to Rs 2803.39 crore in Q4 March 2014 over Q4 March 2013.

Lanco Infratech is one of the largest integrated infrastructure developers in the country. The company operates in five core sectors viz. EPC, power, natural resources, solar and infrastructure.

Adani Power reported a consolidated net loss of Rs 303 crore in Q1 June 2014, lower than net loss of Rs 1198 crore in Q1 June 2013. Total income rose 104% to Rs 5248 crore in Q1 June 2014 over Q1 June 2013.

Adani Power is the largest private thermal power producer in India.

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Board of Axis Bank approves debt issue of up to Rs 6000 crore

Aug 21 2014 1:00PM

AXIS Bank announced that the Board of Directors of the Bank at its meeting held on 21 August 2014 has approved issuance of Long Term Bonds/Non-convertible debentures upto Rs. 6,000 crore on a private placement basis. The approval of shareholders of the Bank in terms of the provisions of Companies Act, 2013 is proposed to be obtained by way of Postal Ballot.

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Board of Bharat Rasayan approves appointment of director

Aug 21 2014 12:59PM

Bharat Rasayan announced that the Board of Directors of the Company at its meeting held on 20 August 2014, appointed Sujata Agarwal, as an Additional Director of the Company effective from 01 Sept 2014. She will be designated as an Independent & Non- Executive Director of the Company.

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Saamya Biotech (India) to hold board meeting

Aug 21 2014 12:58PM

Saamya Biotech (India) will hold a meeting of the Board of Directors of the Company on 1 September 2014, to consider re-appointment of directors, to fix the remuneration of auditors, to fix the date, time and venue for the forthcoming Annual General Meeting, and to fix the dates of book closure.

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Outcome of board meeing of Sunil Healthcare

Aug 21 2014 12:57PM

Sunil Healthcare announced that the Board of Directors of the Company at its meeting held on 13 August 2014, has taken the following decision:

1. Annual General Meeting of the Company to be held on 27 September 2014 at its Registered Office of the Company.

2. Lata Singh Retd IAS, was appointed as an women Addition Director as per section 149 and 161 of the Companies Act, 2013.

3. Joginder Singh Independent Director of the Company has been appointed as an Independent Director of the Company not liable to retire by rotation subject to approval of the shareholders of the Company with effect from 27 September 2014.

4. S. N. Balasubramaniam Independent Director of the Company has been appointed as an Independent Director of the Company not liable to retire by rotation subject to approval of the shareholders of the Company with effect from 27 September 2014.

5. Sanjay Kaushik Independent Director of the Company has been appointed as an Independent Director of the Company not liable to retire by rotation subject to approval of the shareholders of the Company with effect from 27 September 2014.

6. R. C. Khurana Independent Director of the Company has been appointed as an Independent Director of the Company not liable to retire by rotation subject to approval of the shareholders of the Company with effect from 27 September 2014.

7. Lata Singh, who was appointed as an additional director of the Company has been reappointed as an Women Regular Director of the Company subject to the approval of the shareholders of the Company.

8. M/s. Singhi & Company Statutory auditor of the Company has been appointed as a Statutory auditor of the Company for the next three years I e up to conclusion of the AGM of 2017.

9. S. N. Balasubramaniam has been nominated as a member of the Nomination and Remuneration Committee and Stakeholders Relationship Committee in place of R. K. Niyogi.

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PM lays foundation stone for IRB Infrastructure Developers' Haryana road project

Aug 20 2014 11:48AM

IRB Infrastructure Developers announced that on 19 August 2014 Honorable Prime Minister Narendra Modi has laid foundation stone of the Project of Four Laning of Kaithal - Rajasthan Border Section of NH-152/65 from km 33.250 to km 241.580 (Design Length 166 km) in the State of Haryana to be executed as BOT (Toll) on DBFOT Pattern under NHDP Phase - IV (the "Project").

- IRB has won the Project on Viability Funding Basis in May 2014 and executed concession agreement on 23 June 2014.

Key highlights of the Project are as under;

1. The Project is on DBFOT Pattern

2. The estimated project cost of the Company is approximately Rs. 2300 crore.

3. The concession period for the same is 27 years

4. Construction period is 910 days

5. IRB has sought Rs 234 crore Viability Gap Funding from NHAI

6. With this Project, IRB expands its base in 7th state viz. Haryana.

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Suyog Telematics to hold board meeting

Aug 14 2014 12:15PM

Suyog Telematics will hold a meeting of the Board of Directors of the Company on 14 August 2014, to decide day, date and time for Annual General Meeting and to approve the notice of the same, to appoint Independent Director, to consider the appointment of Statutory Auditors, and other issues.

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Board of Jolly Plastic Industries approves sub-division of equity shares

Aug 14 2014 12:14PM

Jolly Plastic Industries announced that the Board of Directors of the Company at its meeting held on 14 August 2014, inter alia, has considered and approved the following:

1. Approval of sub-division of each equity share of the Company having a Face Value of Rs. 10/- each into 10 Equity shares having Face Value of Rs. 1/- each, subject to the consent of the shareholders.

2. Approved consequent alteration in the Capital Clause as contained in the Memorandum of Association of the Company.

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Outcome of board meeting of Nila Infrastructures

Aug 12 2014 5:00PM

Nila Infrastructures announced that the Board of Directors of the Company at its meeting held on 12 August 2014, inter alia, transacted the following businesses :

1. The Audit Committee of the Company has been reconstituted in line with the provision of section 177 of the Companies Act, 2013 and as per Clause 49 of the listing agreement and Shyamal S. Joshi, Hiren G. Pandit and Kiran B. Vadodaria, Directors of the Company Constitute the Committee with immediate effect. Shyamal S. Joshi shall act as the Chairman of the audit committee.

2. The nomenclature of the existing Remuneration Committee has been changed to “Nomination and Remuneration Committee” in line with the provisions of section 178 of the Companies Act, 2013. Shyamal S. Joshi, Hiren G. Pandit and Dilip D. Patel constitute the Committee with immediate effect. Shyamal S. Joshi shall act as the Chairman of the Committee.

3. The nomenclature of the existing Share Transfer and Investor Grievance Committee has been changed to “Stakeholders Relationship Committee” in line with the provisions of section 178 of the Companies Act, 2013 and listing agreement. Kiran B. Vadodaria and Manoj B. Vadodaria constitute the Committee and Kiran B. Vadodaria shall act as the Chairman of the Committee.

4. Issue of 15000000 (One Crore Fifty Lac Only) Stock Options exercisable into equal number of fully paid up equity shares of the Company to Eligible Employees of the Company under the Scheme titled “Nila Infrastructures - ESOP 2014” in terms of Securities and Exchange Board of India (Employees Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 has been approved subject to the approval of the members at the ensuing Annual General Meeting.

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Union KBC Equity Fund Announces Dividend

Aug 21 2014 1:07PM

Union KBC Mutual Fund has announced 25 August 2014 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend option of Union KBC Equity Fund, an open ended equity scheme. The amount of dividend will be Rs. 1.00 per unit as on the record date.

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IDFC Equity Opportunity - Series 1 Announces Dividend

Aug 21 2014 1:05PM

IDFC Mutual Fund has announced 25 August 2014 as the record date for declaration of dividend under Regular Plan-Dividend Option & Direct Plan-Dividend Option of IDFC Equity Opportunity Series 1. The amount of dividend will be Rs 3.00 per unit under each plan on the face value of Rs 10 per unit.

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HSBC MF Announces Rollover of HSBC Fixed Term Series 94

Aug 20 2014 11:56AM

HSBC Mutual Fund has announced rollover of HSBC Fixed Term Series 94, a close ended income scheme which is due for maturity on 25 August 2014.

The features of the proposed rollover are as follows:

Date of rollover: 26 August 2014.

Period of rollover: 793 days.

Date of Maturity for rollover: 26 October 2016.

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DWS Hybrid Fixed Term Fund – Series 26 (1099 Days) Floats On

Aug 20 2014 11:53AM

Deutsche Mutual Fund has unveiled a new fund named as DWS Hybrid Fixed Term Fund – Series 26, a close ended debt fund. The tenure of the scheme is 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 August and closes on 02 September 2014.

The objective of the fund is to generate income by investing in fixed income securities maturing on or before the date of the maturity of the scheme and to generate capital appreciation by investing in equity and equity related instruments.

Growth and dividend (regular, quarterly and annual payout) options are offered under the scheme.

The scheme would invest 65% to 95% of assets in debt and debt related instrument, invest upto 10% of assets in money market instruments with low to medium risk profile and invest 5%-25% of assets in equity and equity related instruments including derivatives with high risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

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

Entry and exit load charge for the scheme will be nil.

Benchmark index for the scheme is Crisil MIP Blended Fund Index.

The equity portion of the scheme will be managed by Akash Singhania and debt portion will be managed by Rakesh Suri.

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LIC Nomura MF Diversified Equity Fund – Series 1 (1100 Days) Floats On

Aug 20 2014 11:51AM

LIC Nomura Mutual Fund has launched a new fund named as LIC Nomura MF Diversified Equity Fund – Series 1, a close ended equity scheme with the duration of 1100 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 19 August to 02 September 2014.

The primary investment objective of the scheme is to generate capital appreciation, from a portfolio that is substantially constituted of equity and equity related securities constituting S&P BSE 200 Index Companies. The scheme may also invest a certain portion of its corpus in cash & cash equivalent, debt and money market instruments from time to time.

The scheme offers growth (option A) and dividend (payout-option B) options under both regular plan and direct plan.

The scheme shall invest 80-100% in equity and equity related instruments constituted of companies in S&P BSE 200 index and up to 20% in cash & cash equivalents, debt and money market instruments.

The minimum application amount is Rs 5000 and in multiple of Rs 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 and exit load charge will be nil for the scheme.

Benchmark Index for the scheme is S&P BSE 200 Index.

The fund managers of the scheme are Nobutaka Kitajima and Ramnath Venkateswaran.

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BOI AXA Credit Spectrum Fund files offer document with Sebi

Aug 20 2014 11:50AM

BOI AXA Mutual Fund has filed offer document with Sebi to launch BOI AXA Credit Spectrum Fund, an open-ended debt scheme. The New Fund Offer price is Rs 10 per unit.

Investment objective: The scheme's investment objective is to generate capital appreciation over the long term by investing predominantly in corporate debt across the credit spectrum within the universe of investment grade rating. To achieve this objective, the scheme will seek to make investments in rated, unrated instruments and structured obligations of public and private companies.

Plans: Regular plan and direct plan.

Benchmark: CRISIL Composite Bond Fund Index

Entry Load – NA

Exit Load -

6% if redeemed within 12 months from the date of allotment

5% if redeemed after 12 months but within 24 months from the date of allotment

4% if redeemed after 24 months but within 36 months from the date of allotment

3% if redeemed after 36 months but within 48 months from the date of allotment

2% if redeemed after 48 months but within 60 months from the date of allotment

Nil if redeemed after 60 months from the date of allotment

Minimum Application Amount: Rs.5,000 and in multiples of Rs 5000 thereafter.

Minimum Target Amount: Rs 20 crore

Asset Allocation: The scheme shall invest 70-100% in corporate debt (including securitized debt*) and up to 30% in money market instruments.

*Investments in securitised debt will not exceed 50% of the net assets of the scheme as at the time of purchase.

Investment in debt derivatives instruments may be up to 50% of the net assets of the scheme for the purpose of hedging and portfolio balancing purposes.

Fund Manager: Alok Singh

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Kotak QIP Series 3 Announces Dividend

Aug 14 2014 12:20PM

Kotak Mutual Fund has announced 19 August 2014 as the record date for declaration of dividend under the dividend option of Kotak Quarterly Interval Plan Series 3 (Kotak QIP Series 3). The quantum of dividend will be the entire appreciation in Net Asset Value (NAV) of dividend option until 19 August 2014 on the face value of Rs 10 per unit.

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IDFC MF Announces Rollover of IDFC Fixed Term Plan – Series 2

Aug 14 2014 12:18PM

IDFC Mutual Fund has announced rollover of IDFC Fixed Term Plan – Series 2, a close ended income scheme which is due for maturity on 25 August 2014.

The features of the proposed rollover are as follows:

Period of rollover: 1 Year.

Date of Maturity for rollover: 24 August 2015.

Asset allocation post rollover:

The scheme would invest upto 100% of assets in debt & money market instruments with low to medium risk profile.

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Crude oil futures dip amid weak China data

Aug 21 2014 1:12PM

Crude oil futures fell in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market after manufacturing activity in China expanded at a slower pace in August, signaling a cooling recovery in the world’s second biggest oil consumer, clouding the demand outlook for the fuel. HSBC said that China’s manufacturing gauge dropped to 50.3 this month from 51.7 in July, with a reading above 50 signaling expansion Further, German and Italian lawmakers approved the supply of arms to Kurdish forces in Iraq to take on the Islamic State rebels, easing supply concerns over the OPEC’s second biggest oil producer. At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,688 per barrel, down by 0.19 per cent, after opening at Rs 5,690, against a previous close of Rs 5,699. It touched an intra-day low of Rs 5,687

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Gold futures continue downward journey

Aug 21 2014 1:10PM

 Gold futures were trading lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market after the US Federal Reserve signaled that it may raise interest rates sooner than earlier anticipated, dimming the appeal of the bullion as a store of value. Investors are cautious ahead of the US jobless claims data due today which may signal strength in the US labour market, boosting the case for earlier than expected monetary tightening by the Fed. Gold futures for October 2014 contract, at MCX, is trading at Rs. 28,064 per 10 grams, down by 0.52 per cent, after opening at Rs. 28,161, against the previous closing price of Rs 28,212. It touched an intra-day low of Rs 28,051

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Castorseed rises by 0.43% as demand picks up

Aug 21 2014 1:08PM

Castorseed prices rose by 0.43 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for September 2014 contract were trading at Rs. 4,231 per quintal tonnes, up by 0.43 per cent, after opening at Rs. 4,227 against the previous closing price of Rs. 4,213. It touched the intra-day high of Rs. 4,257 till the trading. (At 12.15 PM today). Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.

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Gold futures tad lower on weak demand

Aug 14 2014 12:23PM

Gold futures fell marginally in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the precious metal as global gold demand fell 16 per cent to 963.8 metric tons in Q2 2014 as demand in China and India, the world’s biggest consumers of gold, slipped.

US retail sales stalled in July, raising bets that the US Federal Reserve may refrain from raising interest rates in the near-term, bolstering the appeal of the bullion as a store of value, trimming losses in Gold futures.

Gold futures for October 2014 contract, at MCX, is trading at Rs. 28,664 per 10 grams, down by 0.08 per cent, after opening at Rs. 28,682, against the previous closing price of Rs 28,688. It touched an intra-day low of Rs 28,652.

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Coriander falls by 1.75% on low demand

Aug 14 2014 12:21PM

Coriander prices fell by 1.75 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the adequate stocks availability in the physical market put pressure on coriander prices. At the NCDEX, coriander futures for August 2014 contract were trading at Rs. 11,365 per quintal, down by 1.75 per cent, after opening at Rs. 11,330 against the previous closing price of Rs. 11,567. It touched the intra-day low of Rs. 11,300 till the trading. (At 11.33 AM today). Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Coriander is common in South Asian, Middle Eastern, Central Asian, Mediterranean, Indian, Tex-Mex, Latin American, Portuguese, Chinese, African, and Scandinavian

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Weak demand, higher arrivals drag down Mentha oil futures

Aug 13 2014 4:51PM

   Mentha oil prices fell by 0.44 per cent on Wednesday at the Multi Commodity Exchange (MCX) as a result of the increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh. At MCX, Mentha oil futures for August 2014 contract, at MCX, were trading at Rs. 702.70 per kg, down by 0.44 per cent after opening at Rs. 705 against the previous closing price of Rs. 705.80. It touched the intra-day low of Rs. 702 till the trading. (At 2.50 PM today). Sentiment weakened further as the investors indulged in profit-booking in the midst of a fall in demand in the spot market. About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.

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Zinc falls by 1.23% on rising stockpiles

Aug 13 2014 4:49PM

Zinc prices fell by 1.23 per cent on Wednesday at the domestic markets due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 9425 metric tonnes to 725075 metric tonnes as on August 13, 2014. Zinc futures for August 2014 contract, at MCX, were trading at Rs 140.70 per kg, down by 1.23 per cent after opening at Rs. 142.20 against the previous closing price of Rs. 142.45. It touched the intra-day low of Rs. 140.50 till the trading. (At 4.15 PM today). Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.

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Castorseed falls by 0.38% on higher arrivals

Aug 12 2014 5:07PM

Castorseed prices fell by 0.38 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for August 2014 contract was trading at Rs. 4,218 per quintal tonnes, down by 0.38 per cent, after opening at Rs. 4,220 against the previous closing price of Rs. 4,234. It touched the intra-day low of Rs. 4,210 till the trading. (At 12.15 PM today). Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.

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Post Session- Sensex ekes out modest gains amid mixed Asian cues

Aug 21 2014 4:58PM

The key domestic benchmarks ended with modest gains on Thursday as the Sensex advanced by 45 points as foreign investors boosted buying in blue-chips amid hopes of a revival in Asia’s third biggest economy. Consumer durables and banking stocks led the gains. All eyes are on the Q1 GDP data to be released next week. Mixed cues from Asian stocks weighed on sentiment, trimming gains in the Sensex.

Asian stocks ended mixed after the US Federal Reserve signaled that it may raise interest rates sooner than earlier anticipated if the employment target is met quicker than expected. China’s Shanghai Composite ended lower after HSBC said that China’s manufacturing gauge dropped to 50.3 this month from 51.7 in July, with a reading above 50 signaling expansion, indicating a worsening slowdown in the world’s second biggest economy. Hang Seng closed down while Japan’s Nikkei 225 ended up as a weaker yen boosted the appeal of exporter stocks.

The BSE SENSEX closed at 26,360.11, up by 45.82 points or by 0.17 per cent and the NSE Nifty ended at 7,891.1, up by 15.8 points or by 0.2 per cent.

The BSE Sensex touched intraday high of 26,464.8 and intraday low of 26,262.52 The NSE Nifty touched intraday high of 7,919.65 and intraday low of 7,855.95.

Meanwhile, the BSE MIDCAP closed at 9,320.55 up by 44.21 points or by 0.48 per cent, while the BSE SMLCAP ended at 10,298.5 up by 34.99 points or by 0.34 per cent.

On the Sectoral front, Consumer Durables and Banking climbed 3.78 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 3270, shares advanced were 1755 while 1398 shares declined and 117 were unchanged.

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2267.30,+3.15%), State Bank of India (Rs. 2467.80,+2.27%), HDFC Bank Ltd. (Rs. 831.65,+1.35%), Mahindra & Mahindra Ltd. (Rs. 1376.15,+1.34%), Sun Pharmaceutical Industries Ltd. (Rs. 857.95,+1.28%), among others.

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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]