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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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Steel Authority of India Ltd spurts 2.73%

Dec 19 2018 1:13PM

Steel Authority of India Ltd is up for a third straight session in a row. The stock is quoting at Rs 54.6, up 2.73% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.49% on the day, quoting at 10961.85. The Sensex is at 36490.21, up 0.39%. Steel Authority of India Ltd has dropped around 12.5% in last one month.
Meanwhile, Nifty Metal index of which Steel Authority of India Ltd is a constituent, has dropped around 2.59% in last one month and is currently quoting at 3198.15, up 0.49% on the day. The volume in the stock stood at 82.05 lakh shares today, compared to the daily average of 112.5 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 54.5, up 2.25% on the day. Steel Authority of India Ltd is down 35.42% in last one year as compared to a 4.96% spurt in NIFTY and a 15.57% spurt in the Nifty Metal index.

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Hindustan Zinc Ltd gains for third straight session

Dec 19 2018 1:12PM


Hindustan Zinc Ltd gained for a third straight session today. The stock is quoting at Rs 280.9, up 1.12% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.49% on the day, quoting at 10961.85. The Sensex is at 36490.21, up 0.39%. Hindustan Zinc Ltd has gained around 6.58% in last one month.
Meanwhile, Nifty Metal index of which Hindustan Zinc Ltd is a constituent, has gained around 2.59% in last one month and is currently quoting at 3198.15, up 0.49% on the day. The volume in the stock stood at 4.73 lakh shares today, compared to the daily average of 8.6 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 281.2, up 0.88% on the day. Hindustan Zinc Ltd is down 7.66% in last one year as compared to a 4.96% jump in NIFTY and a 15.57% jump in the Nifty Metal index.

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Piramal Enterprises Ltd up for third straight session

Dec 19 2018 1:11PM

Piramal Enterprises Ltd gained for a third straight session today. The stock is quoting at Rs 2263, up 3.85% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.49% on the day, quoting at 10961.85. The Sensex is at 36490.21, up 0.39%. Piramal Enterprises Ltd has slipped around 1.03% in last one month.
Meanwhile, Nifty Pharma index of which Piramal Enterprises Ltd is a constituent, has slipped around 4.26% in last one month and is currently quoting at 8840.4, down 0.16% on the day. The volume in the stock stood at 5.41 lakh shares today, compared to the daily average of 4.44 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 2268.45, up 3.68% on the day. Piramal Enterprises Ltd is down 20.21% in last one year as compared to a 4.96% spurt in NIFTY and a 4.95% spurt in the Nifty Pharma index.

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Beardsell Ltd leads losers in 'B' group

Dec 18 2018 10:42PM

Nagarjuna Oil Refinery Ltd, Nu Tek India Ltd, BLB Ltd and DQ Entertainment International Ltd are among the other losers in the BSE's 'B' group today, 18 December 2018.
Beardsell Ltd lost 9.48% to Rs 23.4 at 13:55 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 4 shares were traded on the counter so far as against the average daily volumes of 1102 shares in the past one month.
Nagarjuna Oil Refinery Ltd tumbled 9.41% to Rs 0.77. The stock was the second biggest loser in 'B' group.On the BSE, 1.81 lakh shares were traded on the counter so far as against the average daily volumes of 47350 shares in the past one month.
Nu Tek India Ltd crashed 9.30% to Rs 0.39. The stock was the third biggest loser in 'B' group.On the BSE, 9675 shares were traded on the counter so far as against the average daily volumes of 11833 shares in the past one month.
BLB Ltd corrected 7.90% to Rs 5.01. The stock was the fourth biggest loser in 'B' group.On the BSE, 1767 shares were traded on the counter so far as against the average daily volumes of 3332 shares in the past one month.
DQ Entertainment International Ltd slipped 7.62% to Rs 6.91. The stock was the fifth biggest loser in 'B' group.On the BSE, 601 shares were traded on the counter so far as against the average daily volumes of 34973 shares in the past one month.

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Zee Entertainment Enterprises Ltd leads losers in 'A' group

Dec 18 2018 10:40PM

Navkar Corporation Ltd, Century Plyboards (India) Ltd, Welspun Corp Ltd and Kwality Ltd are among the other losers in the BSE's 'A' group today, 18 December 2018.
Zee Entertainment Enterprises Ltd lost 7.85% to Rs 463.2 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 4.61 lakh shares were traded on the counter so far as against the average daily volumes of 1.52 lakh shares in the past one month.
Navkar Corporation Ltd tumbled 5.11% to Rs 42.7. The stock was the second biggest loser in 'A' group.On the BSE, 25471 shares were traded on the counter so far as against the average daily volumes of 55436 shares in the past one month.
Century Plyboards (India) Ltd crashed 4.24% to Rs 175. The stock was the third biggest loser in 'A' group.On the BSE, 9540 shares were traded on the counter so far as against the average daily volumes of 15539 shares in the past one month.
Welspun Corp Ltd dropped 3.32% to Rs 150.05. The stock was the fourth biggest loser in 'A' group.On the BSE, 29107 shares were traded on the counter so far as against the average daily volumes of 53362 shares in the past one month.
Kwality Ltd slipped 3.23% to Rs 8.1. The stock was the fifth biggest loser in 'A' group.On the BSE, 9.04 lakh shares were traded on the counter so far as against the average daily volumes of 11.04 lakh shares in the past one month.

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Indian Oil Corporation Ltd soars 0.73%, up for fifth straight session

Dec 18 2018 1:12PM

Indian Oil Corporation Ltd gained for a fifth straight session today. The stock is quoting at Rs 143.95, up 0.73% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.35% on the day, quoting at 10850.5. The Sensex is at 36150.07, down 0.33%. Indian Oil Corporation Ltd has risen around 0.98% in last one month.
Meanwhile, Nifty Energy index of which Indian Oil Corporation Ltd is a constituent, has risen around 1.25% in last one month and is currently quoting at 14283.95, up 0.01% on the day. The volume in the stock stood at 105.01 lakh shares today, compared to the daily average of 188.97 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 136.5, up 0.59% on the day. Indian Oil Corporation Ltd is down 29.76% in last one year as compared to a 3.7% spurt in NIFTY and a 0.19% spurt in the Nifty Energy index.

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Edelweiss Financial Services Ltd gains for fifth session

Dec 18 2018 1:11PM

Edelweiss Financial Services Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 193.4, up 2.22% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.35% on the day, quoting at 10850.5. The Sensex is at 36150.07, down 0.33%. Edelweiss Financial Services Ltd has added around 9.3% in last one month.
Meanwhile, Nifty Financial Services index of which Edelweiss Financial Services Ltd is a constituent, has added around 2.44% in last one month and is currently quoting at 11441.9, down 0.36% on the day. The volume in the stock stood at 8.36 lakh shares today, compared to the daily average of 19.8 lakh shares in last one month.

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REC Ltd soars 1.51%, up for third straight session

Dec 18 2018 1:10PM

REC Ltd rose for a third straight session today. The stock is quoting at Rs 107.25, up 1.51% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.31% on the day, quoting at 10854.1. The Sensex is at 36162.26, down 0.3%. REC Ltd has dropped around 13.82% in last one month.
Meanwhile, Nifty Financial Services index of which REC Ltd is a constituent, has dropped around 2.47% in last one month and is currently quoting at 11441.9, down 0.33% on the day. The volume in the stock stood at 75.02 lakh shares today, compared to the daily average of 126.63 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 107.35, up 1.23% on the day. REC Ltd is down 31.64% in last one year as compared to a 3.74% gain in NIFTY and a 8.38% gain in the Nifty Financial Services index.

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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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HDFC FMP 1203D December 2018 (1) Floats On

Dec 17 2018 3:52PM

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1203D December 2018 (1), a plan under HDFC Fixed Maturity Plans – Series 43 (a close ended income scheme). The tenure of the scheme is 1203 days from the date of allotment of units. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 19 December 2018 to 26 December 2018.
The investment objective of the plan under the scheme is to generate income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the respective plans.
The scheme offers growth option, dividend option and quarterly dividend option.
The plan would invest 80%-100% of assets in debt instruments & government securities with medium risk profile and invest upto 20% of assets in money market instruments with low 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 not applicable for the plan.
Benchmark Index for the plan is CRISIL Composite Bond Fund Index.
The fund manager of the scheme is Anil Bamboli.

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Sundaram Fixed Term Plan – IO Floats On

Dec 14 2018 1:11PM

Sundaram Mutual Fund has launched a new fund named as Sundaram Fixed Term Plan – IO, a close ended income scheme with the duration of 1206 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 14 December and closes on 18 December 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, dividend sweep options.
The scheme will allocate upto 20% of assets in money market instruments including bills rediscounting & cash equivalents and 80% - 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 subscrip

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Tata Nifty Exchange Traded Fund Floats On

Dec 14 2018 1:11PM

Tata Mutual Fund has launched a new fund named Tata Nifty Exchange Traded Fund (Tata Nifty ETF), an open ended exchange traded fund tracking Nifty 50 Index. The new issue will be open for subscription from 17 December 2018 to 19 December 2018.
The investment objective of the scheme is to provide returns that is closely correspond to the total returns of the securities as represented by the Nifty 50 index, subject to tracking error.
The scheme offer is not available.
The scheme would invest 95% - 100% of assets in equity and equity related instruments covered by Nifty 50 index with high risk profile and upto 5% of asset in Money Market Instruments including CBLO or any other instrument as may be permitted by SEBI and units of liquid scheme of Tata Mutual Fund with low risk profile.
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 and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Nifty 50 (Total Return Index).
The fund manager of the scheme is Sailesh Jain

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UTI Fixed Term Income Fund – Series XXX – XV (1223 Days) Floats On

Dec 12 2018 10:05PM


UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXX – XV (1223 Days), a close ended debt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 12 December to 13 December 2018.
The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.
The scheme offers growth option, quarterly dividend option with payout facility, flexi dividend option with payout facility, annual dividend option with payout facility and maturity dividend option with payout facility.
The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets would be allocated to money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.
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 for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.

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Aditya Birla Sun Life Nifty Next 50 ETF Floats On

Dec 11 2018 1:23PM

Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life Nifty Next 50 ETF, an open ended debt scheme tracking Nifty Next 50 Index. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 December 2018 to 17 December 2018.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by Nifty Next 50, subject to tracking errors.
The scheme Plans/ Options Not Available
The scheme would invest 95% to 100% of assets in equities and equity linked instruments covered by the underlying index with medium to high risk profile and would invest upto 5% of assets in cash/money market instruments and units of liquid mutual fund with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 1000 thereafter during the NFO period.
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.
Benchmark Index for the scheme is Nifty Next 50 Index

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IDBI Dividend Yield Fund Floats On

Dec 3 2018 9:54AM


IDBI Mutual Fund has launched a new fund named as IDBI Dividend Yield Fund, an open ended equity scheme predominantly investing in dividend yielding stocks. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 03 December to 17 December 2018.
The Investment objective of the Scheme is to provide long term capital appreciation and/or dividend distribution by investing predominantly in dividend yielding equity and equity related instruments.
The scheme offers regular plan and direct plan for investment. Both plans offer growth option and dividend option. Dividend option offers facility for payout/ reinvestment/sweep of dividend.
The scheme would allocate 65%-100% of assets in equity and equity related instruments of dividend yielding companies with high risk profile, invest upto 35% of assets would be allocated to equity and equity related instruments of dividend yielding companies with high risk profile, invest upto 35% of assets would be allocated to debt & money market instruments with low to medium risk profile and invest upto 10% of asset would be Units issued by Real Estate Investment Trusts (REITs) & Infrastructure Investment Trusts (InvITs) with medium to high risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The minimum additional purchase amount is Rs 1000 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: Not Applicable
Exit load: If units of the Scheme are redeemed or switched out up to 10% of the units (the limit) within 12 months from the date of allotment - Nil.
If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment - 1% of the applicable NAV.
If units of the scheme are redeemed or switched out after 12 months from the date of allotment - Nil
Benchmark Index for the scheme is Nifty Dividend Opportunities 50 - Total Returns Index (TRI).
The fund manager of the scheme is Ashish Mishra.

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DSP FMP – Series 247 – 36M Floats On

Nov 30 2018 1:22PM

DSP Mutual Fund has launched a new fixed maturity plan named as DSP FMP – Series 247 – 36M, a close-ended income scheme with the duration of 36 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 03 December 2018 to 06 December 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 80%-100% of assets in debt securities and invest 0% - 20% of assets in money market securities / instruments with low to medium risk profile.
The minimum application amount is Rs 5000.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

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Tata Arbitrage Fund Floats On

Nov 30 2018 1:21PM

Tata Mutual Fund has launched a new fund named as Tata Arbitrage Fund, an open ended scheme investing in arbitrage opportunities. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 10 December to 17 December 2018.
The investment objective of the Scheme is to seek to generate reasonable returns by investing predominantly in arbitrage opportunities in the cash and derivatives segments of the equity markets and by investing balance in debt and money market instruments.
The scheme offers regular plan and direct plan for investment. Both plans offer growth option and monthly dividend option. Dividend option has sub-options of dividend payout, dividend reinvestment & dividend sweep.
The scheme would allocate 65%-100% of assets in equity and equity related securities and equity derivatives with high risk profile and invest upto 35% of assets would be allocated to debt, money market instruments & cash (including units of liquid schemes of Tata Mutual Fund) with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 1000 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: Not Applicable
Exit load: 0.25 % of the applicable NAV, if redeemed/switched out/withdrawn on or before expiry of 30 Days from the date of allotment.
Benchmark Index for the scheme is Nifty 50 Arbitrage Index.

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Indian Rupee: Breaks Under 70 Per US Dollar As Oil Slumps

Dec 19 2018 1:15PM

The Indian Rupee extended gains ahead of the US Federal Reserve monetary policy meet today. Supportive cues from local equities boosted the sentiments. A sharp drop in global crude oil prices also helped the local currency. The INR currently trades at 70.16 against the US dollar, adding around half a percent on the day. The currency hit a two week high under 70 levels in early moves today. The local currency jumped around 1.5% yesterday as local equities stayed supported.
Global crude oil slumped over 5% on Tuesday in heavy trade due to fears of oversupply and deteriorating demand. India imports majority of its crude requirements and a decline in crude eases concerns on fiscal deficit, inflation and gives more room for the government to boost growth through spending on infrastructure.
Meanwhile, the local stocks once again regained strength in early afternoon trade. At 12:24 IST, the barometer index, the S&P BSE Sensex, was up 104.47 points or 0.29% at 36,451.55. The Nifty 50 index was up 42.70 points or 0.39% at 10,951.40. Shares of index heavyweight and housing finance major HDFC gained. IT stocks dropped. Today's upmove on the bourses was supported by an overnight slump in global crude oil prices.
Asian stocks were mixed ahead of the outcome of the US Fed monetary policy meeting. Domestic stocks drifted higher in early trade, extending their prior six-day rising trend, boosted by an overnight slump in global crude oil prices. Stocks hovered in small range in morning trade. Key indices trimmed gains in mid-morning trade.

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Domestic Sugar Output Gains 2.1%

Dec 19 2018 1:14PM

Domestic Sugar output edged up 2.1% to 70.52 lakh tonnes so far in the 2018-19 sugar season. As on 15 December 2018, 462 sugar mills were crushing sugarcane for the year 2018-19 SS and they have produced 70.52 lakh tonnes of sugar, i.e. 1.48 lakh tonnes (2.1%) higher than the sugar production on the corresponding date of previous sugar season, of 69.04 lakh tonnes of sugar. Last year on the corresponding date, 476 mills were operating.
In Maharashtra, 178 sugar mills are in operation and they have produced 29 lakh tonnes of sugar till 15 December, 2018. In 2017-18 SS, there were 176 sugar mills in operation as on 15 December, 2017 and they had produced 25.70 lakh tonnes. Average sugar recovery achieved so far is 10.18% as compared to 10.10% last year on the same date.
In Uttar Pradesh, 116 mills have produced 18.94 lakh tonnes of sugar till 15 December, 2018 lower than last year, when same number of sugar mills had together produced 23.37 lakh tonnes on the corresponding period.
The third largest producer of sugar viz. Karnataka, have produced 13.94 lakh tonnes of sugar till 15 December, 2018. This is slightly higher than 11.24 lakh tonnes of sugar production in 2017-18 SS as on 15 December, 2017. During the current 2018-19 SS, 63 sugar mills are in operation as on 15 December, as compared to 62 operated on the corresponding date of 2017.
As regards Gujarat, 16 sugar mills are in operation and they have produced 3.10 lakh tonnes of sugar till 15 December, 2018. In 2017-18 SS, as on 15 December, 2017, 17 sugar mills were in operation and they had produced 2.75 lakh tonnes of sugar till that date.
In Andhra Pradesh and Telangana, 18 sugar mills could start crushing till 15 December, 2018 and they produced about 1.05 lakh tonnes of sugar till that date. Last year, 20 sugar mills were in operation on 15 December 2017 and they had produced 0.98 lakh tonnes.
There are 5 sugar mills in Tamil Nadu in operation and sugar production till 15 December, 2018 was about 0.85 lakh tonnes, as compared to 0.47 lakh tonnes produced by 19 sugar mills as on 15 December, 2017.
In regard to Bihar, Punjab, Haryana and Madhya Pradesh, there are 9, 16, 14 and 19 sugar mills are in operation respectively and they have produced 1.36 lakh tonnes, 0.35 lakh tonnes, 0.90 lakh tonnes and 0.65 lakh tonnes, respectively.
The production in Maharashtra and Karnataka are slightly higher than last year at the same time because the mills have started their sugarcane crushing earlier as compared to the previous season. On the other hand UP sugar mills had started their crushing this year slightly later as compared to last year and hence have produced less sugar than the previous sugar season at the same time.
Due to lower than normal rainfall and heavy infestation of white grub in several sugarcane growing districts of Maharashtra, sugar production in some of the important sugarcane growing areas in Maharashtra will be adversely affected and therefore Maharashtra is expected to produce less than last year.

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GDP In G20 Area Eases To 0.8% In Third Quarter Of 2018

Dec 18 2018 10:47PM


Growth of real gross domestic product (GDP) in the G20 area eased to 0.8% in the third quarter of 2018, compared with 1.0% in the previous quarter, according to provisional estimates.
GDP contracted in four G-20 countries in the third quarter of 2018, following growth in the previous quarter. Turkey recorded the sharpest contraction (minus 1.1%), on the back of the Lira’s significant depreciation in August, followed by Japan (minus 0.6%, compared with 0.7% in the previous quarter), Germany (minus 0.2%, compared with 0.5%) and Italy (minus 0.1%, compared with 0.2%).
GDP growth slowed in a majority of the remaining G-20 economies for which data are available. Growth slowed significantly in Australia (to 0.3%, from 0.9%), and, to a lesser extent, in India (to 1.5%, from 1.8%), Canada (to 0.5%, from 0.7%), Russia (to 0.3%, from 0.5%), China (to 1.6%, from 1.7%) and the United States (to 0.9, from 1.0%). It also slowed in the European Union (to 0.3%, from 0.5%).
On the other hand, growth rebounded in Mexico and South Africa, to 0.8% and 0.6%, respectively in the third quarter of 2018, following a contraction of 0.1% in the previous quarter in both countries. Growth also picked-up significantly in Brazil (to 0.8%, from 0.2%), and, to a lesser extent, in the United Kingdom (to 0.6%, from 0.4% in the previous quarter, albeit latest estimates for the UK for October point to a slowdown from Q3) and France (to 0.4%, from 0.2%). GDP growth was stable in Indonesia (1.3%) and Korea (0.6%).
Year-on-year GDP growth for the G20 area slowed to 3.6% in the third quarter of 2018 (from 3.8% in the previous quarter), with India recording the highest growth (7.2%) and Japan the lowest (0.1%.

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WTI Oil Falls 3% As Slide Under $50 Extends

Dec 18 2018 10:45PM

Weakness in global equities and constant worries about economic growth hurt the oil prices yet again as a drop from recent highs extended. WTI Crude oil futures tanked around 3% today to trade at $48.70 per barrel, approaching their lowest mark in nearly 14 months. Prices dropped for a third straight session as swelling global inventories and forecasts of record US and Russian output hurt the mood. MCX Crude oil also fell in line with this, currently trading at Rs 3451 per barrel, down 4.20% as the strength in Indian Rupee weighed on the sentiments.
In overnight trades, economic worries pulled the benchmark US equity indices lower. US stocks fell sharply with the Dow falling to its lowest closing level in over eight months, while the Nasdaq and the S&P 500 dropped to their lowest closing levels in over a year. All three US indices slumped more than 2% on the day. Asian equities also plummeted on these cues and the stocks in Japan fell around 1.8%. In other markets in Asia, Chinese stocks were off around 0.80% while the Hong Kong equities were also off around 1%.
Oil had edged up at the start of this month after The Organization of the Petroleum Exporting Countries and other oil producers agreed to curb production by 1.2 million barrels per day. However, this recovery proved short lived as the production has been near record highs in the United States, Russia and Saudi Arabia and demand growth for the commodity is seen to be muted on global growth jitters.

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MCX Gold Falters On Impressive Spurt In Rupee

Dec 18 2018 10:43PM


COMEX Gold stayed supported just below its recent five month high amid steady safe haven buying as global growth worries stayed in place. The yellow metal currently trades at $1252.35 per ounce, up marginally on the day. MCX Gold futures are trading in red though, currently quoting at Rs 31220 per 10 grams, down 1.30% on the day as the Indian Rupee firmed up. The INR added around 1.5% to end at a two week high of 70.45 per US dollar as local equities stayed supported.
Meanwhile, globally, the growth of real gross domestic product (GDP) in the G-20 area eased to 0.8% in the third quarter of 2018, compared with 1.0% in the previous quarter, according to provisional estimates released by OECD. GDP contracted in four G-20 countries in the third quarter of 2018, following growth in the previous quarter. Turkey recorded the sharpest contraction (minus 1.1%), on the back of the Lira's significant depreciation in August, followed by Japan (minus 0.6%, compared with 0.7% in the previous quarter), Germany (minus 0.2%, compared with 0.5%) and Italy (minus 0.1%, compared with 0.2%).

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Russia Barley Exports Down 3 percent In My 2018/19

Dec 18 2018 1:15PM

According to preliminary information of market participants, Russian exporters shipped abroad 2.2 MMT of barley during the four months in MY 2018/19 (July-October), or 12.7% less than in the same period last year. October barley exports totaled 500.9 KMT (excluding the Customs Union). This is up 4.9% from the previous month but 12.9% less than in October 2017/18.
Compared with a year ago, July-October 2018/19 witnessed a substantial decline in Russian barley supplies to markets such as Saudi Arabia (-8%), Iran (-32%), and Turkey (-54%).
At the same time, strengthening demand for Russian barley is seen from the European Union, which imported as much as 91.8 KMT in the reporting period against 30.7 KMT in July-October 2017/18. Shipments to Jordan were boosted as well: the country purchased 279.7 KMT of barley during these months, or 82% more than in July-October 2017/18 (153.3 KMT).

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Indian Rupee: Strengthens Amid Fall In Oil Prices

Dec 18 2018 1:14PM

The Indian rupee rebounded further against the dollar in early trades on Tuesday, 18 December 2018 as oil prices dropped 1 per cent, amid reports of a big climb in US inventories and forecasts of record shale output stoked worries about oversupply. Forex market sentiments were driven by the country's narrowing trade deficit in November. However, early dip in local equities limited any gains in the local unit.
The domestic currency opened at Rs 71.34 against the dollar and climbed to a high of 71.19 so far during the day. In the spot currency market, the Indian unit was last seen trading at 71.2925. Rupee in the last few sessions consolidated in a wide range of 71.20 and 72.30 ahead of the important FOMC policy statement that will be released tomorrow. The rupee on Monday recovered by 34 paise to close at 71.56 against the US dollar.
Stocks extended initial losses and hit fresh intraday low in morning trade. At 10:21 IST, the barometer index, the S&P BSE Sensex, was down 217.76 points or 0.6% at 36,052.31. The Nifty 50 index was down 67.05 points or 0.62% at 10,821.30. Local stocks were weighed by weakness in Asian stocks.
Domestic stocks dropped in early trade on weak Asian stocks. Overseas, Asian stocks were trading lower on Tuesday, tracking losses on Wall Street as traders braced for an interest rate hike by Federal Reserve. US equity indexes slid to their lowest close in 14 months on Monday as investors weighed the impact of the Fed on growth in a market already anxious over trade, geopolitical tensions and a possible government shutdown.
Meanwhile, the US dollar was flat on Tuesday in Asia ahead of the Federal Reserve decision due Wednesday. The U.S. Dollar Index that tracks the greenback against a basket of other currencies last traded at 96.545, down 0.01%. The index was little changed ahead of a widely expected Federal Reserve rate hike due Wednesday, though markets will likely focus more on the central bank's expectations about rate hikes for the upcoming year, with many predicting a more dovish outlook.

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Volatility In Oil Market Not In Interests Of Producers Or Consumers Says IEA

Dec 17 2018 10:53PM

OPEC and some non-OPEC oil ministers met in Vienna last week and agreed to curb their output by 1.2 mb/d in order to address growing surpluses in the market, noted the International Energy Agency (IEA) in a latest update. The agreement aims to achieve relative stability and to bring the market towards balance. So far, the Brent crude oil price seems to have found a floor, remaining close to $60/bbl much where it was when the ministers met. Recently, prices have been volatile; in early October Brent crude oil prices reached $86/bbl on concerns that the market could tighten as Iranian sanctions were implemented. Then, thirty-seven days later, they fell back to $58/bbl as producers more than met the challenge of replacing Iranian and other barrels. Such volatility is not in the interests of producers or consumers.
Cooperation between Russia and Saudi Arabia is now the basis of production management with these two countries having a large capacity to swing output one way or the other. For them, prices falling further would place their budgets under great stress. The third, non-playing member, so to speak, of the Big Three is the United States, which is now the world’s biggest crude oil producer and where production management is a company level, economically driven decision. The United States is also the world’s biggest consumer and lower prices are welcome, although its producers will want to see them stay high enough to encourage further investment.
While the US was not present in Vienna, nobody could ignore its growing influence. According to the Energy Information Administration, in the week to 30 November the US was a net exporter of crude and products for the first time since at least 1991. The number, 211 kb/d, is modest and even if it proves to be an isolated data point, the long-term trend is clear. In 2018 to date, US net imports have averaged 3.1 mb/d. Ten years ago, just ahead of the shale revolution, the figure was 11.1 mb/d. As production grows inexorably, so will net imports decline and rising US exports will provide competition in many markets, including to some of the countries meeting in Vienna last week.
New data in this Report shows little change to IEA’s 2018 estimates. Demand will grow by 1.3 mb/d although there are signs that the pace is slackening in some countries as the impact of higher prices lingers. As far as non-OPEC supply is concerned, our estimate for growth is revised slightly up to 2.4 mb/d. For 2019, the global demand growth outlook remains at 1.4 mb/d even though oil prices have fallen back considerably since the early October peak.
Some of the support provided by lower prices will be offset by weaker economic growth globally, and particularly in some emerging economies. For non-OPEC supply, the agency has revised its growth forecast for 2019 down by 415 kb/d, partly due to expected cuts from Russia agreed last week, and to lower growth in Canada. The serious build-up of stocks arising from logistical bottlenecks in Alberta led the provincial government to act very decisively to curb output. The initial cutback of 325 kb/d for three months to allow blockages to ease is a significant development.

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Mid-Session: Realty stocks gain

Dec 19 2018 1:09PM

Key indices trimmed gains in mid-morning trade. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 78.35 points or 0.22% at 36,425.43. The Nifty 50 index was up 33.25 points or 0.3% at 10,941.95. Realty stocks gained. Asian stocks were mixed ahead of the outcome of the US Fed monetary policy meeting.
Domestic stocks drifted higher in early trade, extending their prior six-day rising trend. Gains were triggered by an overnight slump in global crude oil prices. Stocks hovered in small range in morning trade.
Oil prices slumped over 5% on Tuesday in heavy trade due to fears of oversupply and deteriorating demand. India imports majority of its crude requirements and a decline in crude eases concerns on fiscal deficit, inflation and gives more room for the government to boost growth through spending on infrastructure.
The S&P BSE Mid-Cap index was up 1.05%. The S&P BSE Small-Cap index was up 0.86%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1472 shares rose and 730 shares fell. A total of 128 shares were unchanged.
Realty stocks gained. DLF (up 5.25%), Indiabulls Real Estate (up 6.06%), Housing Development and Infrastructure (up 2.75%), D B Realty (up 4.43%), Sobha (up 2.33%), Godrej Properties (up 1.13%) and Prestige Estates Projects (up 1.14%) gained. Unitech (down 1.42%) and Oberoi Realty (down 0.4%) fell.
Karnataka Bank rose 1.32%. Karnataka Bank as part of digital initiative has announced its strategic partnership with Paisabazaar.com, one of the India's largest online platforms for financial products to offer the bank's home loan product to customers. Through this partnership, consumers will now be able to choose and apply for a home loan from Karnataka Bank, directly through the Paisabazaar platform. The announcement was made after market hours yesterday, 18 December 2018.
Mahindra & Mahindra Financial Services (MMFSL) rose 2.83%. MMFSL said its board will meet on 21 December 2018 to consider issuing non-convertible debentures with a shelf limit of Rs 10,000 crore. The announcement was made after market hours yesterday, 18 December 2018.
On the macro front, on a review of the evolving liquidity conditions, RBI has decided to scale up the amounts to be purchased in the remaining two Open Market Operations (OMO) auctions scheduled in December 2018 to Rs 15000 crore each. Consequently, the total injection of durable liquidity for the month of December 2018 would amount to Rs 50000 crore.
Further, based on an assessment of the durable liquidity needs going forward, RBI has decided to conduct purchase of Government Securities under OMOs for an aggregate amount of Rs 50000 crore in the month of January 2019. The operations will be conducted through five auctions of Rs 10000 crore each.
The liquidity conditions will continue to be monitored and depending on the assessment, RBI will consider similar quantum of OMO purchases until end of March 2019. The exact calibration of the quantum of OMO would depend on sustained changes in the behaviour of currency in circulation, the magnitude of sterilisation operations for RBI's forex operations and other relevant factors.
Overseas, Asian stocks were trading mixed as investors braced for Wednesday's Federal Reserve policy decision against the backdrop of recent turmoil in global markets. On Wednesday, Japan reported that its trade balance in November was a deficit of 737.3 billion yen, from 450.1 billion yen in the previous month. This is its fourth deficit in last five months. The country's exports broadly slowed, partly due to weakening demand from China. Japanese exports rose 0.1% from a year earlier, as compared to October's 8.2% gain.
US stocks nudged higher on Tuesday in a volatile day as technology and consumer-focused companies climbed.
The Federal Reserve wraps up its final policy meeting of 2018 on Wednesday. The Federal Open Market Committee is expected to raise its short-term interest rate by a modest quarter-point to a range of 2.25% to 2.5%. Investors are closely watching the Federal Reserve monetary policy guidance for 2019. The central bank forecasts three more rate hikes in 2019, but softer global growth could cause a shift in its hawkish stance. The Bank of Japan's monetary policy decision is due Thursday, followed by a briefing from Governor Haruhiko Kuroda. A Bank of England decision is also due on Thursday.

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Profit Krishna

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]