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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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HDFC inches up in volatile trade after declaring Q2 result

Oct 22 2014 4:00PM

The stock was volatile. The stock hit a high of Rs 1,035 and a low of Rs 1,017.35 so far during the day. The stock had hit a record high of Rs 1,149.90 on 14 August 2014. The stock had hit a 52-week low of Rs 755.60 on 14 February 2014.

The stock had underperformed the market over the past one month till 21 October 2014, falling 4.13% compared with 1.90% fall in the Sensex. The scrip also underperformed the market in past one quarter, gaining 1.02% as against Sensex's 3.35% rise.

The large-cap housing finance company has equity capital of Rs 313.86 crore. Face value per share is Rs 2.

On a consolidated basis, Housing Development Finance Corporation net profit rose 9.15% to Rs 2064.36 crore on 16.42% growth in total income to Rs 11608.43 crore in Q2 September 2014 over Q2 September 2013.

Housing Development Finance Corporation (HDFC) has a wide network of offices spread across the country. It also has offices in Dubai, London and Singapore and service associates in the Middle East region, to provide housing loans and property advisory services to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs).

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Asian Paints gains in volatile trade after declaring result

Oct 22 2014 3:59PM

The stock saw high intraday volatility. The stock hit a high of Rs 658.35 and a low of Rs 634.10. The stock hit a record high of Rs 680 on 9 September 2014. The stock hit a 52-week low of Rs 461 on 20 February 2014.

The large-cap company has an equity capital of Rs 95.92 crore. Face value per share is Re 1.

Asian Paints said that the results for the quarter and six months ended 30 September 2014 include consolidated financials of Sleek International in which Asian Paints acquired 51% stake on 8 August 2013. In view of this, the results for quarter and six months ended 30 September 2014 are not comparable with the corresponding previous period.

Asian Paints is India's largest and Asia's third largest paint company. Asian Paints operates in 17 countries and has 25 paint manufacturing facilities in the world servicing consumers in over 65 countries.

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Cement, steel stocks gain on govt's plans to auction coal blocks

Oct 21 2014 1:26PM

Jindal Steel & Power (JSPL) rose 5.43% The company after market hours yesterday, 20 October 2014, in a clarification with regard to media news item titled "Coal Scam : CBI files fresh case against Jindal Steel" reiterated that all its actions are in keeping with the legal framework of the country & that the company complies with the law in letter & in spirit. JSPL continues to co-operate with all the authorities in a responsive manner, it added.

Among shares of cement makers, JK Lakshmi Cement (up 2.61%), J K Cement (up 2.22%), Prism Cement (up 1.59%), India Cements (up 3.22%), ACC (up 0.74%), Ambuja Cements (up 0.59%), Shree Cement (up 0.28%), and Jaiprakash Associates (up 0.67%), edged higher. UltraTech Cement was down 0.11%.

Grasim Industries rose 1.17%. Grasim has exposure to the cement sector through its subsidiary UltraTech Cement.

Coal Minister Piyush Goyal quoted by media as saying on Monday, 20 October 2014, government will auction 74 coal-mining licenses to private companies in the next three to four months. The government is reallocating hundreds of mining licenses after the Supreme Court last month canceled 214 coal licenses issued to private and public companies since 1993, saying the way they were given out was nontransparent and arbitrary.

Unlike the current system, in which coal mining rights are allotted to actual users in some notified sectors, commercial mining will mean opening up the sector to mining companies selling coal to users.

The government reportedly said it would promulgate an ordinance to resolve issues arising out of the cancellation of coal blocks. The ordinance will address issues related to coal supply to companies of central and state governments, as well as private companies in the cement, steel and power businesses. It will also address valuation of the land to be taken over from those who have lost coal blocks.

To kick-start the process, the 42 operational cancelled mines, along with 32 mines in different stages of production, will be put up for e-auction for actual users in the power, cement and steel sector. The e-auction process, the government hopes, will be completed in the next three-four months. The proceeds of all the auctions will go to the governments of states in which the mines are located. The major beneficiaries will be mineral-rich Jharkhand, Odisha, West Bengal and Chhattisgarh, report added.

The winners of the coal block allocations would have to pay back previous holders of the permits for their investment with a 12% return, report added.

Coal is used in production of power, steel and cement. Steam coal - also known as thermal coal - is mainly used in power generation. Coking coal - also known as metallurgical coal - is mainly used in steel production. The cement industry requires energy to produce cement and coal is an important source of the energy used.

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Motilal Oswal Financial Services jumps on strong Q2 results

Oct 21 2014 1:24PM

The stock hit a high of Rs 236 and a low of Rs 219.40 so far during the day. The stock hit a 52-week high of Rs 255.25 on 21 July 2014. The stock hit a 52-week low of Rs 68 on 28 October 2013.

The stock had outperformed the market over the past one month till 20 October 2014, rising 0.8% compared with 2.44% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 9.46% as against Sensex's 3.07% rise.

The mid-cap firm has an equity capital of Rs 13.88 crore. Face value per share is Re 1.

The company's adjusted net profit rose 74% to Rs 32.65 crore in Q2 September 2014 over Q2 September 2013. EBITDA and adjusted net profit margins were 32% and 18% respectively in Q2 September 2014 compared with 34% and 19% respectively in Q1 June 2014. The balance sheet had net worth of Rs 1244.87 crore and borrowings of Rs 285.39 crore, as of 30 September 2014.

Broking and related revenues rose 65% to Rs 120.28 crore in Q2 September 2014 over Q2 September 2013. Fund based income jumped 91% to Rs 35.09 crore in Q2 September 2014 over Q2 September 2013. NBFC loan book was Rs 465 crore and Housing Finance disbursements Rs 50.71 crore as of September 2014. Re-allocation of investments in Motilal Oswal's mutual fund products from passive to active strategies resulted in capital gains of Rs 14.79 crore and is booked under Fund-based income.

Speaking on the performance of the company, Mr. Motilal Oswal, CMD said: “The gains in the benchmark index tapered this quarter. The BSE Sensex was up only 4.8% QoQ, as compared to the stellar 13.5% seen in the previous quarter. But despite a dip in cash equity volumes this quarter from the highs of May and June, the activity levels are still significantly higher than the historical levels seen in the last three fiscal years. Retail participation has seen traction this year as compared to recent years, which is encouraging. As the IPO pipeline gains further momentum, it should ideally bring in more retail participants into the markets as they seek to benefit from the opportunities. We have remained committed to investing in our technology, people and infrastructure through this period. Our new venture – Aspire Home Finance, within a very short period of commencing business, has already helped over 500 Indian families realize their dreams of owning a house while building an efficient and effective operating model.”

Motilal Oswal Financial Services firm offers a range of financial products and services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking and Principal Strategies.

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Swaraj Engines declines on marginal rise in Q2 net profit

Oct 21 2014 1:20PM

The stock hit a high of Rs 972.60 and a low of Rs 925.10 so far during the day. The stock hit a record high of Rs 1080 on 23 September 2014. The stock hit a 52-week low of Rs 455 on 31 October 2013.

The stock had underperformed the market over the past one month till 20 October 2014, falling 6.2% compared with 2.44% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 3.85% as against Sensex's 3.07% rise.

The mid-cap firm has an equity capital of Rs 12.42 crore. Face value per share is Rs 10.

Operating profit rose 8% to Rs 24.60 crore in Q2 September 2014 over Q2 September 2013, in tandem with increased engines sales volume. However, due to higher depreciation to comply with the changes in Companies Act 2013 and CSR spend coupled with lower income on surplus funds, profit before tax (PBT) during the quarter stood almost unchanged at Rs 25.10 crore as in Q2 September 2013.

Swaraj Engines' board of directors at its meeting held yesterday, 20 October 2014, inter alia, appointed Sudhir Mankad as Chairman of the Board in place of G. P. Gupta who consequent to his resignation ceased to be the director of the company after the conclusion of the last Annual General Meeting of the company held on 31 July 2014.

Swaraj Engines is manufacturing engines for fitment into “Swaraj” tractors being manufactured by Mahindra & Mahindra (M&M) at its Swaraj Division. SEL is also supplying hi-tech engine components to SML Isuzu, the erstwhile Swaraj Mazda, for assembly of commercial vehicle engines.

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Hathway Cable gains after bulk deal

Oct 20 2014 1:56PM

The stock hit a high of Rs 309.80 and a low of Rs 301.60 so far during the day. The stock had hit a record high of Rs 368 on 9 June 2014. The stock had hit a 52-week low of Rs 221 on 16 April 2014.

The stock had outperformed the market over the past one month till 17 October 2014, rising 6.79% compared with Sensex's 1.96% fall. The scrip, however, underperformed the market in past one quarter, falling 7.69% as against Sensex's 2.14% rise.

The mid-cap company has an equity capital of Rs 161.40 crore. Face value per share is Rs 10.

Hathway Cable & Datacom reported a net loss of Rs 0.92 crore in Q1 June 2014 as against net profit of Rs 5.32 crore in Q1 June 2013. Net sales rose 7.7% to Rs 249.58 crore in Q1 June 2014 over Q1 June 2013.

Hathway Cable & Datacom is one of the largest multi system operator (MSO) and cable broadband service providers in India. The company's cable operations straddle across key Indian geographies and offers cable television services across 140 cities and towns and high-speed cable broadband services across 21 cities.

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Oberoi Realty gains after announcing decent Q2 results

Oct 20 2014 1:50PM

The stock hit a high of Rs 219.50 and a low of Rs 215 so far during the day. The stock hit a 52-week high of Rs 283.85 on 3 September 2014. The stock hit a 52-week low of Rs 168.30 on 17 October 2013.

The stock had underperformed the market over the past one month till 17 October 2014, falling 12.04% compared with 1.96% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 14.1% as against Sensex's 2.14% rise.

The mid-cap real estate firm has an equity capital of Rs 328.23 crore. Face value per share is Rs 10.

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DLF gains on filing appeal in SAT against Sebi ban

Oct 20 2014 1:45PM

The stock hit a high of Rs 115.95 and low of Rs 108.15 so far during the day. The stock hit a 52-week high of Rs 242.80 on 9 June 2014. The stock had hit a record low of Rs 100 on 16 October 2014.

The stock had underperformed the market over the past one month till 17 October 2014, falling 34.54% compared with Sensex's 1.96% fall. The scrip had also underperformed the market in past one quarter, sliding 50.17% as against Sensex's 2.14% rise.

The large-cap company has an equity capital of Rs 356.39 crore. Face value per share is Rs 2.

DLF on Friday, 17 October 2014 approached the Securities Appellate Tribunal (SAT) to challenge a Securities and Exchange Board of India (Sebi) order barring it and its six top executives from securities markets for three years. The announcement was made after market hours on Friday, 17 October 2014. The first hearing on the appeal will take place on Wednesday, 22 October 2014.

Shares of DLF had dropped 28.46% in a single trading session to settle at Rs 104.95 on 14 October 2014. Sebi had notified on 13 October 2014, that it has barred realty major DLF as well as its top executives, including chairman and main promoter K P Singh, from buying, selling or otherwise dealing in securities, directly or indirectly, in any manner, whatsoever, for 3 years. However, the regulator did not impose any monetary penalty. The regulatory action stemmed from the DLF management's failure to disclose material information to investors during the firm's initial public offer (IPO) in 2007. DLF's IPO in 2007 had fetched Rs 9187 crore -- the biggest IPO in the country at that time.

Besides K P Singh, those barred from the markets included his son Rajiv Singh (vice chairman), daughter Pia Singh (whole time director), managing director T C Goyal, former CFO Ramesh Sanka and Kameshwar Swarup, who was executive director (legal) at the time of the company's public offer in 2007.

After its over four-year-long probe, Sebi found that a case of active and deliberate suppression of any material information so as to mislead and defraud the investors in the securities market in connection with the issue of shares of DLF in its IPO is clearly made out in this case.

In his 43-page order, Sebi's whole-time member Rajeev Agarwal also said that violations are grave and have larger implications on safety and integrity of the securities market.

On a consolidated basis, DLF's net profit fell 29.5% to Rs 127.77 crore on 24.7% decline in total income to Rs 1851.60 crore in Q1 June 2014 over Q1 June 2013.

DLF's primary business is development of residential, commercial and retail properties.

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Jindal Steel & Power to hold board meeting

Oct 22 2014 4:10PM

Jindal Steel & Power will hold a meeting of the Board of Directors of the Company on 4 November 2014, to consider and approve un-audited financial results, both on standalone and consolidated basis, of the Company for 2nd quarter and six months ended on 30 September 2014 of FY 2014-15.

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IDBI Bank to hold board meeting

Oct 22 2014 4:08PM

IDBI Bank will hold a meeting of the Board of Directors of the Company on 31 October 2014, to consider and approve the un-audited financial results of the Bank for the quarter and half year ended 30 September 2014 (Q2).

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Lee & Nee Software (Exports) to hold board meeting

Oct 22 2014 4:03PM

Lee & Nee Software (Exports) will hold a meeting of the Board of Directors of the Company on 30 October 2014, to consider approve & adopt the Unaudited Financial Results (Provisional) of the Company for the quarter ended 30 September 2014, and to discuss the general affairs & progress of the Company and check out the future course of action for the Company.

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Idea Cellular announces cessation of director

Oct 21 2014 1:39PM

Idea Cellular announced that Biswajit A. Subramanian, a Non-Executive Director, who was a nominee of P5 Asia Investments (Mauritius) (P5 Asia), an entity of the Providence Equity group, a shareholder of the Company, has ceased to be a Director of the Company effective 20 October 2014, pursuant to acceptance of his resignation by the Board of Directors of the Company at its meeting held on 20 October 2014.

P5 Asia has been holding equity shares in the Company since 2006 and Subramanian was representing them on the Company's Board. Recently, P5 Asia had divested part of their holding in the Company. Consequently, Subramanian has submitted his resignation for acceptance by the Board, which the Board has accepted at its meeting held on 20 October 2014.

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Outcome of board meeting of Lypsa Gems & Jewellery

Oct 21 2014 1:38PM

Lypsa Gems & Jewellery announced that the Board of Directors of the Company at its meeting held on 21 October 2014, has reviewed the Operations/Workings of three manufacturing units of the company and were fully satisfied about the same.

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Natco Pharma announces tentative approval for Armodafinil

Oct 21 2014 1:36PM

Natco Pharma announced that its marketing partner in the USA, Breckenridge Pharmaceutical Inc., has received tentative approval from the United States Food & Drug Adminstration (USFDA) for Armodafinil 50mg, 150mg, and 250mg Tablets

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Board of Geometric allots equity shares under ESOP

Oct 20 2014 2:07PM

Geometric announced that the Board of Directors of the Company at its meeting held on 20 October 2014, inter alia, has:

- Allotted 227,904 Equity shares of Rs. 2 each on the exercise of vested stock options under ESOP Scheme 2009 - Employees and ESOP Scheme 2011.

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Board of Torrent Cables approves change in company secretary

Oct 20 2014 1:59PM

Torrent Cables announced that the Board of Directors of the Company at its meeting held on 20 October 2014, inter alia, has approved / noted the following:

1. Abhinav Mathur, a Member of the institute of Company Secretaries of India has been appointed as Company Secretary of the Company with effect from 11 August 2014.

2. The Board, at the Board Meeting held on 20 October 2014 appointed Abhinav Mathur, Company Secretary as Compliance Officer of the Company with effect from 20 October 2014.

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Mutual funds in selling mode

Oct 22 2014 4:11PM

Mutual funds sold shares worth a net Rs 256.70 crore on Monday, 20 October 2014, compared with net inflow of Rs 697.80 crore on Friday, 17 October 2014.

The net outflow of Rs 256.70 crore on 20 October 2014 was a result of gross purchases of Rs 1160.90 crore and gross sales of Rs 1417.50 crore. The S&P BSE Sensex jumped 321.32 points or 1.23% to settle at 26,429.85 on that day, its highest closing level since 9 October 2014.

Mutual funds have bought shares worth Rs 3489.90 crore in October 2014 (till 20 October 2014). Mutual funds purchased shares worth a net Rs 4171.50 crore in September 2014

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ICICI Prudential Dynamic Bond Fund Announces

Oct 21 2014 1:47PM

ICICI Prudential Mutual Fund has announced change in exit load structure under ICICI Prudential Dynamic Bond Fund, with effect from 01 November 2014.

Accordingly, the exit load will be:

If units purchased or switched in from another scheme of the fund are redeemed or switched out within 3 months from the date of allotment, the exit load will be 0.50% of the applicable Net Asset Value (NAV).

If units purchased or switched in from another scheme of the fund are redeemed or switched out after 3 months from the date of allotment, the exit load will be Nil.

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Birla Sun Life Fixed Term Plan – Series MC (1099 days) Floats On

Oct 21 2014 1:44PM

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Fixed Term Plan – Series MC (1099 days), a close ended income scheme. 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 21 October and close on 28 October 2014.

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.

The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility) and Quarterly Dividend sub-option (Payout Facility).

The scheme would invest 80%-100% of assets in debt securities (excluding money market instruments), invest upto 20% of assets in money market instruments with low to medium risk profile and invest upto 20% of assets in government securities 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 nil.

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.

The fund manager of the scheme will be Kaustubh Gupta.

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SBI Equity MIP Fund files offer document with Sebi

Oct 20 2014 2:13PM

SBI Mutual Fund has filed offer document with Sebi to launch SBI Equity MIP Fund, an open ended equity scheme. The New Fund Offer price is Rs 10 per unit.

Investment objective: The investment objective of the scheme is to generate income by investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and capital appreciation through a moderate exposure in equity.

Plans/ option(s): Growth and dividend (monthly and quarterly frequency with reinvestment, payout & transfer) options under both regular plan and direct plan.

Benchmark: Crisil MIP Blended Fund Index

Entry Load: Not applicable

Exit Load: For exit within 1 year from the date of allotment– 1 %, For exit after 1 year from the date of allotment- Nil.

Minimum Application Amount: Rs.5,000 and in multiples of Re 1 thereafter.

Minimum Target Amount: Rs 10 crore

Asset Allocation: The scheme shall invest 65-90% in equity and equity related instruments including derivatives and 10-35% in debt and money market instruments /units of debt & liquid mutual funds

Fund Managers: Neeraj Kumar and Ruchit Mehta

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Taurus Dynamic Income Fund Announces Change In Exit Load

Oct 20 2014 2:10PM

Taurus Mutual Fund has announced change in exit load structure under Taurus Dynamic Income Fund, with effect from 20 October 2014.

Accordingly, if exited on or before 90 days from the date of allotment, the exit load will be 1%.

If exited after 90 days from the date of allotment, the exit load will be Nil.

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ICICI Prudential Multiple Yield Fund - Series 8 – 1824 Days Plan A

Oct 20 2014 2:09PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Multiple Yield Fund - Series 8 - Plan A, a close ended income fund. The tenure of the plan is 1824 days from the date of allotment of units. The new fund offer price for the scheme is Rs 10 per unit. The new issue will open for subscription from 20 October to 03 November 2014.

The primary objective of the scheme is to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments. The secondary objective of the scheme is to generate long term capital appreciation by investing a portion of the scheme's assets in equity and equity related instruments.

The scheme offers direct and regular plan. Each plan will offer cumulative and dividend option. Dividend payout is the only facility available under dividend option.

The scheme will allocate 65% to 95% of assets in debt securities (including government securities) with low to medium risk profile. It would allocate upto 30% of assets in money market instruments, cash and cash equivalents with low to medium risk profile and it would allocate 5% to 35% of the asset in equity or equity related securities with medium to high risk profile.

Of the investments in debt instruments, 75%-80% would be invested in AA rated non convertible debentures.

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

The scheme is proposed to be listed on NSE.

Entry load and exit load charge are not applicable for the scheme.

The benchmark index for the scheme will be CRISIL MIP Blended Index.

Rahul Goswami and Aditya Pagaria will jointly manage the debt portion of investments under the scheme. The equity portion will be managed by Vinay Sharma. The investments under the ADRs/GDRs and other foreign securities will be managed by Ashwin Jain.

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HSBC Mutual Fund has announced

Oct 17 2014 1:12PM

HSBC Mutual Fund has announced that Ruchir Parekh, Senior Vice President and Fund Manager-Fixed Income, managing certain schemes has resigned from the services of HSBC Asset Management Company.

Accordingly, the few changes pertaining to Fund Manager's section, with effect from 18 October 2014 will be:

HSBC MIP – Savings & Regular Plan will be managed by Aditya Khemani (for equity portion) and Sanjay shah (for fixed income portion), HSBC Income Fund – Investment Plan, HSBC Flexi Debt Fund & HSBC Fixed Term Series (101, 102, 105, 106, 107 & 109) will be managed by Sanjay Shah, HSBC Income Fund – Short Term Plan will be jointly managed by Sanjay Shah & Piyush Harlalka, HSBC Floating Rate Fund – Long Term Plan will be jointly managed by Kapil Punjabi & Piyush Harlalka, HSBC Cash Fund & HSBC Fixed Term Series (97, 99 & 100) will be managed by Kapil Punjabi, HSBC Ultra Short Term Bond Fund will be jointly managed by Kapil Punjabi & Piyush Harlalka, HSBC Emerging Markets Fund & HSBC Brazil Fund will be managed by Anitha Rangan, HSBC Asia Pacific (Ex Japan) Dividend Yield Fund will be jointly managed by Anitha Rangan & Sanjay Shah, HSBC Managed Solutions jointly managed by Anitha Rangan, Gaurav Mehrotra (for equity portion) and Sanjay Shah (for fixed income portion), HSBC Capital Protection Oriented Fund – Series I – Plan I will be jointly managed by Amaresh Mishra (for equity portion) and Sanjay Shah (for fixed income portion) and HSBC Fixed Term Series (91, 94, 95, 96 & 98) will be managed by Piyush Harlalka.

Anitha Rangan will be the dedicated Fund Manager for making overseas investments in various schemes as permitted under the regulations, guidelines and circles issued from time to time.

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Reliance Fixed Horizon Fund – XXVII – Series 9 Floats On

Oct 17 2014 1:05PM

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXVII – Series 9, a close ended income scheme with the duration of 1106 days from the date of allotment. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 17 October to 31 October 2014.

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue.

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.

The scheme offers two options growth and dividend pay out option under Regular Plan and Direct Plan.

The scheme will allocate upto 30% of its assets in money market instruments with low risk profile and invest 70%-100% of its assets in government securities & debt 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 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 will be Amit Tripathi.

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Limited stocks lift Coriander futures

Oct 22 2014 4:18PM

 Coriander prices fell by 1.06 per cent on Wednesday 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 November 2014 contract were trading at Rs. 11,965 per quintal, down by 1.06 per cent, after opening at Rs. 12,065 against the previous closing price of Rs. 12,093. It touched the intra-day low of Rs. 11,945 till the trading. (At 11.45 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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Castorseed surges by 1.04% on industrial demand

Oct 22 2014 4:15PM

 Castorseed prices rose by 1.04 per cent on Wednesday 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 November 2014 contract were trading at Rs. 4,672 per quintal tonnes, up by 1.04 per cent, after opening at Rs. 4,644 against the previous closing price of Rs. 4,624. It touched the intra-day high of Rs. 4,687 till the trading. (At 12.20 PM today).

Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.

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Limited stocks lift Coriander futures

Oct 21 2014 2:03PM

Coriander prices rose by 1 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. At the NCDEX, coriander futures for November 2014 contract was trading at Rs. 12,070 per quintal, up by 1 per cent after opening at Rs. 11,907 against the previous closing price of Rs. 11,951. It touched the intra-day high of Rs. 12,118 till the trading. (At 11.45 AM today).

Sentiment improved further as the investors enlarged their holdings tracking the surge in the demand for the commodity.

Coriander is common in South Asian, Middle Eastern, Central Asian, Mediterranean, Indian, Tex-Mex, Latin American, Portuguese, Chinese, African, and Scandinavian cuisine.

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Castorseed gains on increase in demand

Oct 21 2014 2:02PM

 Castorseed prices rose by 0.89 per cent on Tuesday 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 November 2014 contract were trading at Rs. 4,530 per quintal tonnes, up by 0.89 per cent, after opening at Rs. 4,503 against the previous closing price of Rs. 4,490. It touched the intra-day high of Rs. 4,542 till the trading. (At 12.20 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 falls on 0.05% at MCx market

Oct 17 2014 1:29PM

Gold prices fell by 0.05 per cent on Friday at the domestic markets as a stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Gold futures for December 2014 contract, at MCX, were trading at Rs. 27,436 per 10 grams, down by 0.05 per cent after opening at Rs. 27,425 against the previous closing price of Rs. 27,449. It touched the intra-day low of Rs. 27,390 till the trading. (At 12.11 PM today).

However, losses were curbed amid speculation that the US Federal Reserve may delay tightening monetary policy amidst a slowdown in the world economy that threatens US economic growth, bolstering the appeal of the bullion as a store of value.
   

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Castorseed prices fell by 1.05 per cent

Oct 17 2014 1:27PM

Castorseed prices fell by 1.05 per cent on Friday 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 October 2014 contract was trading at Rs. 4,342 per quintal tonnes, down by 1.05 per cent, after opening at Rs. 4,389 against the previous closing price of Rs. 4,388. It touched the intra-day low of Rs. 4,342 till the trading. (At 12.20 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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Castorseed dips by 0.05% on hopes of strong output

Oct 16 2014 1:17PM

Castorseed prices fell by 0.05 per cent on Thursday 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 October 2014 contract was trading at Rs. 4,402 per quintal tonnes, down by 0.05 per cent, after opening at Rs. 4,394 against the previous closing price of Rs. 4,404. It touched the intra-day low of Rs. 4,385 till the trading. (At 12.20 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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The RBI in October kept its key benchmark

Oct 16 2014 1:14PM

According to a report in Economic Times, P Chidambaram, the Finance Minister in the erstwhile UPA government is of the view that the Modi government must persuade the Reserve Bank of India (RBI) to loosen its monetary policy stance and cut interest rates amid a sharp drop in inflation owing to mainly global factors such as a dip in commodity prices.

Consumer inflation, the most watched gauge of the RBI, fell for a second month on the trot in September 2014 to 6.46 per cent, the lowest since 2012, from a downwardly revised 7.73 per cent in August 2014. Consumer inflation is likely to undershoot the RBI’s 8 per cent target for January 2015. The central bank aims to contain consumer inflation at 6 per cent by January 2016.

Meanwhile, wholesale inflation tumbled to the lowest level in five years at 2.38 per cent in September 2014. Chidambaram attributed the declining trend of inflation to a drop in global commodity prices and not to any measures taken by the NDA government.

Global oil prices have slumped to a four- year low as a slowing global economy curbs fuel demand while a supply glut aggravates, driving down global commodity prices.

The RBI in October kept its key benchmark repo rate unchanged at 8 per cent as the apex bank focusses on its medium-term inflation target.

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Pre Session- Positive opening likely for Sensex on global trend

Oct 22 2014 9:07AM

The key domestic benchmarks are likely to open higher today tracking a positive trend in fellow Asian markets and a strong finish at Wall Street overnight amid optimism that the European Central Bank (ECB) will bolster stimulus while Apple’s record holiday sales estimate bolstered outlook over US corporate earnings. China’s Shanghai Composite was trading with slim gains while Hang Seng rose as Chinese officials assured over growth in the world’s second biggest economy despite a Q3 slowdown and stressed that the impact of economic reforms will show only after some time. Japan’s Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks. Back home, investor sentiment will remain supported by hopes of a pickup in growth after the government stepped up reforms including deregulation of diesel prices and raising natural gas prices to stem subsidy burden and pare the fiscal deficit. However, some volatility may be seen at Dalal Street ahead of the Diwali holidays on Thursday and Friday. Investors will be eying the Q2 earnings data of HDFC and Kotak Bank today.

Top traded Volumes on NSE Nifty – DLF Ltd. 23249098.00, Jindal Steel & Power Ltd. 14879354.00, Hindalco Industries Ltd. 8449946.00, Bharat Heavy Electricals Ltd. 7705778.00 and NTPC Ltd. 7676095.00.

On BSE, total number of shares traded was 32.20 Crore and total turnover stood at Rs. 3115.43 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 455150 with a total turnover of Rs. 18275.96 Crore. Along with this total number of contracts traded in stock futures were 758089 with a total turnover of Rs. 29294.21 Crore. Total numbers of contracts for index options were 5809071 with a total turnover of Rs. 231611.68 Crore and total numbers of contracts for stock options were 449465 with a total turnover of Rs. 17347.86 Crore.

The FIIs on 21/10/2014 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 5961.00 Crore and gross debt purchased stood at Rs. 1245.19 Crore, while the gross equity sold stood at Rs. 4424.79 Crore and gross debt sold stood at Rs. 325.89 Crore. Therefore, the net investment of equity and debt reported were Rs. 1536.21 Crore and Rs. 919.30 Crore.

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LME Inventory

Oct 21 2014 1:52PM

       COPPER: -100

       ZINC: -1650

       LEAD: 0

       NICKLE: +630

       ALUMINIUM: -1015

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]