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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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Vedanta Ltd gains for third consecutive session

Feb 20 2019 1:22PM


Vedanta Ltd gained for a third straight session today. The stock is quoting at Rs 159, up 3.85% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 10675.35. The Sensex is at 35580.9, up 0.65%. Vedanta Ltd has slipped around 19.88% in last one month.
Meanwhile, Nifty Metal index of which Vedanta Ltd is a constituent, has slipped around 6.62% in last one month and is currently quoting at 2689.7, up 2.27% on the day. The volume in the stock stood at 91.78 lakh shares today, compared to the daily average of 156.57 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 159.35, up 3.84% on the day. Vedanta Ltd is down 51.47% in last one year as compared to a 2.67% spurt in NIFTY and a 29.68% spurt in the Nifty Metal index.

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Glenmark Pharmaceuticals Ltd rises around 1%

Feb 20 2019 1:21PM

Glenmark Pharmaceuticals Ltd rose for a third straight session today. The stock is quoting at Rs 585.1, up 1.03% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 10675.35. The Sensex is at 35580.9, up 0.65%. Glenmark Pharmaceuticals Ltd has dropped around 9.44% in last one month.
Meanwhile, Nifty Pharma index of which Glenmark Pharmaceuticals Ltd is a constituent, has dropped around 1.64% in last one month and is currently quoting at 8552.7, up 0.45% on the day. The volume in the stock stood at 2.8 lakh shares today, compared to the daily average of 7.12 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 586.9, up 1.22% on the day. Glenmark Pharmaceuticals Ltd is up 11.46% in last one year as compared to a 2.67% gain in NIFTY and a 2.85% gain in the Nifty Pharma index.

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United Spirits Ltd gains for third consecutive session

Feb 20 2019 1:21PM

United Spirits Ltd gained for a third straight session today. The stock is quoting at Rs 527.3, up 2.89% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 10675.35. The Sensex is at 35580.9, up 0.65%. United Spirits Ltd has slipped around 10.22% in last one month.
Meanwhile, Nifty FMCG index of which United Spirits Ltd is a constituent, has slipped around 4.97% in last one month and is currently quoting at 29009.7, down 0.14% on the day. The volume in the stock stood at 14.09 lakh shares today, compared to the daily average of 16.97 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 528.5, up 2.68% on the day. United Spirits Ltd is down 17.03% in last one year as compared to a 2.67% spurt in NIFTY and a 9.02% spurt in the Nifty FMCG index.

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Premier Polyfilm Ltd leads losers in 'B' group

Feb 19 2019 10:31PM


Think Ink Studio Ltd, Arihant Foundations & Housing Ltd, Bedmutha Industries Ltd and E-Land Apparel Ltd are among the other losers in the BSE's 'B' group today, 19 February 2019.
Premier Polyfilm Ltd tumbled 9.98% to Rs 23.45 at 14:15 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 91 shares were traded on the counter so far as against the average daily volumes of 286 shares in the past one month.
Think Ink Studio Ltd lost 9.82% to Rs 4.5. The stock was the second biggest loser in 'B' group.On the BSE, 3200 shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one month.
Arihant Foundations & Housing Ltd crashed 9.68% to Rs 27.05. The stock was the third biggest loser in 'B' group.On the BSE, 599 shares were traded on the counter so far as against the average daily volumes of 270 shares in the past one month.
Bedmutha Industries Ltd plummeted 9.40% to Rs 15.9. The stock was the fourth biggest loser in 'B' group.On the BSE, 13054 shares were traded on the counter so far as against the average daily volumes of 1827 shares in the past one month.
E-Land Apparel Ltd dropped 8.88% to Rs 3.9. The stock was the fifth biggest loser in 'B' group.On the BSE, 2046 shares were traded on the counter so far as against the average daily volumes of 596 shares in the past one month.

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Kaveri Seed Company Ltd leads losers in 'A' group

Feb 19 2019 10:31PM

Navkar Corporation Ltd, Reliance Power Ltd, Kwality Ltd and Wipro Ltd are among the other losers in the BSE's 'A' group today, 19 February 2019.
Kaveri Seed Company Ltd crashed 13.04% to Rs 406.95 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 5.51 lakh shares were traded on the counter so far as against the average daily volumes of 44946 shares in the past one month.
Navkar Corporation Ltd tumbled 4.34% to Rs 37.5. The stock was the second biggest loser in 'A' group.On the BSE, 18063 shares were traded on the counter so far as against the average daily volumes of 23456 shares in the past one month.
Reliance Power Ltd lost 3.52% to Rs 10.95. The stock was the third biggest loser in 'A' group.On the BSE, 43.15 lakh shares were traded on the counter so far as against the average daily volumes of 86.62 lakh shares in the past one month.
Kwality Ltd plummeted 3.06% to Rs 5.38. The stock was the fourth biggest loser in 'A' group.On the BSE, 4.04 lakh shares were traded on the counter so far as against the average daily volumes of 2.26 lakh shares in the past one month.
Wipro Ltd fell 2.94% to Rs 364.5. The stock was the fifth biggest loser in 'A' group.On the BSE, 67789 shares were traded on the counter so far as against the average daily volumes of 2.09 lakh shares in the past one month.

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Grasim advances after acquisition of chlor-alkali business

Feb 19 2019 10:30PM

On the BSE, 95,000 shares were traded on the counter so far as against the average daily volumes of 82,000 shares in the past two weeks. The stock had hit a high of Rs 723.35 and a low of Rs 697.20 so far during the day.
Grasim Industries signed a definitive agreement to acquire the Chlor-Alkali Business (CAB) of KPR Industries (India) by way of a slump sale, for a cash consideration of Rs 253 crore. The transaction will be funded through internal accruals. KPR would in turn utilize Rs 253 crore towards a full and final settlement of the lenders' dues under a One-Time Settlement. The transaction is subject to regulatory approvals.
The Business consists of an under-construction 200 TPD Chlor-Alkali project at Balabhadrapuram, Andhra Pradesh. Grasim would take over the assets and identified liabilities associated with the Chlor-Alkali Business.
The acquisition is in line with Grasim's strategy to strengthen operations on the East Coast of India. Further, the purchase of a partially-completed project vis-à-vis a greenfield project will translate into a shorter time-to-market. The acquired Business also has the potential for future expansions. Once operationalised, the project, along with other ongoing expansion projects, will enhance Grasim's caustic soda capacity to 1.22 MMTPA.
Grasim Industries' consolidated net profit surged 76.35% to Rs 957.92 crore on 21.66% rise in total income to Rs 18667.44 crore in Q3 December 2018 over Q3 December 2017.
Grasim Industries has a leadership positions in cement, viscose staple fibre, financial services and chemicals businesses.

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Gillanders Arbuthnot & Company Ltd leads losers in 'B' group

Feb 18 2019 10:30PM

Orient Green Power Company Ltd, Tejnaksh Healthcare Ltd, DFM Foods Ltd and Pioneer Embroideries Ltd are among the other losers in the BSE's 'B' group today, 18 February 2019.
Gillanders Arbuthnot & Company Ltd lost 12.73% to Rs 48 at 13:59 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 2147 shares were traded on the counter so far as against the average daily volumes of 537 shares in the past one month.
Orient Green Power Company Ltd tumbled 12.43% to Rs 3.1. The stock was the second biggest loser in 'B' group.On the BSE, 1.1 lakh shares were traded on the counter so far as against the average daily volumes of 56738 shares in the past one month.
Tejnaksh Healthcare Ltd crashed 11.62% to Rs 50.6. The stock was the third biggest loser in 'B' group.On the BSE, 9750 shares were traded on the counter so far as against the average daily volumes of 1269 shares in the past one month.
DFM Foods Ltd dropped 11.01% to Rs 190. The stock was the fourth biggest loser in 'B' group.On the BSE, 2875 shares were traded on the counter so far as against the average daily volumes of 8686 shares in the past one month.
Pioneer Embroideries Ltd fell 10.73% to Rs 18.3. The stock was the fifth biggest loser in 'B' group.On the BSE, 382 shares were traded on the counter so far as against the average daily volumes of 2506 shares in the past one month.

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KPIT Technologies Ltd leads losers in 'A' group

Feb 18 2019 10:29PM

Himadri Speciality Chemical Ltd, Finolex Industries Ltd, Va Tech Wabag Ltd and Radico Khaitan Ltd are among the other losers in the BSE's 'A' group today, 18 February 2019.
KPIT Technologies Ltd lost 9.37% to Rs 99.15 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 13.73 lakh shares were traded on the counter so far as against the average daily volumes of 13.08 lakh shares in the past one month.
Himadri Speciality Chemical Ltd crashed 7.68% to Rs 95.5. The stock was the second biggest loser in 'A' group.On the BSE, 93728 shares were traded on the counter so far as against the average daily volumes of 83175 shares in the past one month.
Finolex Industries Ltd tumbled 6.42% to Rs 462.05. The stock was the third biggest loser in 'A' group.On the BSE, 5274 shares were traded on the counter so far as against the average daily volumes of 5421 shares in the past one month.
Va Tech Wabag Ltd dropped 5.89% to Rs 270.65. The stock was the fourth biggest loser in 'A' group.On the BSE, 10849 shares were traded on the counter so far as against the average daily volumes of 24595 shares in the past one month.
Radico Khaitan Ltd pared 5.68% to Rs 374.25. The stock was the fifth biggest loser in 'A' group.On the BSE, 64574 shares were traded on the counter so far as against the average daily volumes of 64399 shares in the past one month.

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Board of Cyient deliberates on buyback of shares

Jan 17 2019 8:20PM

The Board of Cyient at its meeting held on 17 January 2019 has decided that further deliberations are required in order to take a decision on the proposal of buyback, and accordingly decided to take up the discussion regarding the buyback at a later date. The Company shall comply with SEBI LODR Regulations and other applicable laws in this regard.

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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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ICICI Prudential Fixed Maturity Plan – Series 85 – 1156 Days Plan F Floats On

Feb 14 2019 10:38PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 85 – 1156 Days Plan F, a close ended debt scheme. The tenure of the scheme is 1156 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 February 2019 to 20 February 2019.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.
Presently, two options are available under the scheme viz. cumulative and dividend option (with dividend payout & dividend transfer plan facility) with quarterly and half yearly dividend frequency.
The scheme will invest 100% - 80% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru.

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IDFC Fixed Term Plan Series – 176 Floats On

Feb 14 2019 10:38PM

IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series – 176, a close-ended debt scheme. The tenure of the scheme is 1170 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 15 February 2019 to 20 February 2019.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.
The scheme would invest 100% - 80% of its assets in debt securities with medium to high risk profile and upto 20% of assets in money market instruments (including CBLO) with low to medium risk profile.
Minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Composite Bond Fund Index.
The fund manager of the scheme is Anurag Mittal.

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HSBC Fixed Term Series 139 (1163 days) Floats On

Feb 8 2019 9:05PM

HSBC Mutual Fund has launched a new fund named as HSBC Fixed Term Series 139 (1163 days), a close ended income scheme with the duration of 1163 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 is open for subscription from 12 February and closes on 20 February 2019.
The investment objective of the scheme would be to seek generation of returns by investing in a portfolio of fixed income instruments which mature on or before the maturity date of the plan.
The scheme offers growth and dividend payout option.
The scheme would allocate 80% to 100% of assets in debt instruments and upto 20% of assets in money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: Not Applicable.
Benchmark Index for the scheme is Crisil Composite Bond Fund Index.
The fund manager for the scheme is Kapil Punjabi.

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ICICI Prudential Retirement Fund – Pure Equity Plan Floats On

Feb 4 2019 5:28PM


ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Retirement Fund – Pure Equity Plan, an open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 07 February 2019 to 21 February 2019.
The investment objective of the Scheme is to generate long-term capital appreciation and income generation to investors from a portfolio that is predominantly invested in equity and equity related securities.
Presently, two options are available under the scheme viz. growth and dividend option with dividend payout only.
The scheme will invest 100% - 80% of its assets in Equity & Equity related instruments with medium to high risk profile, invest upto 20% of assets in debt and money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.
The minimum additional application amount is Rs 1000 and in multiples of Rs 1 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is Nifty 500 Index.
The fund managers of the scheme are Mrinal Singh and Ashwin Jain for Equity portion and Manish Banthia & Anuj Tagra for Debt portion. The Overseas investments under the scheme will be managed by Priyanka Khandelwal.

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ICICI Prudential Fixed Maturity Plan – Series 85 – 1168 Days Plan E Floats On

Feb 4 2019 5:26PM


ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 85 – 1168 Days Plan E, a close ended debt scheme. The tenure of the scheme is 1168 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 06 February 2019 to 13 February 2019.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.
Presently, two options are available under the scheme viz. cumulative and dividend option (with dividend payout & dividend transfer plan facility) with quarterly and half yearly dividend frequency.
The scheme will invest 100% - 80% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru.

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DSP FMP – Series 250 – 39M Floats On

Feb 1 2019 10:41PM

DSP Mutual Fund has launched a new fixed maturity plan named as DSP FMP – Series 250 – 39M, a close ended income scheme with the duration of 39 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 07 February to 13 February 2019.
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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Baroda Fixed Maturity Plan – Series P Floats On

Jan 31 2019 12:58PM

Baroda Mutual Fund has unveiled a new fund named as Baroda Fixed Maturity Plan – Series P, a close ended debt scheme. The tenure of the scheme is 1160 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 04 February 2019 to 12 February 2019.
The investment objective of the Scheme is to generate returns by investing in a portfolio comprising of debt instruments and money market instruments maturing on or before the maturity of the Scheme.
The scheme offers regular and direct plan. Both the plans will have growth option and dividend payout facility.
The scheme will invest 70%-100% of assets in Domestic debt instruments and government securities with low to medium and invest upto 30% of assets in money market instruments with low 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.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund index.
The fund manager of the scheme is Alok Sahoo and Hetal Shah.

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Franklin India Fixed Maturity Plans – Series 5 – Plan F (1203 days) Floats On

Jan 31 2019 12:57PM

Franklin Templeton Mutual Fund has launched a new fund named as Franklin India Fixed Maturity Plans – Series 5 – Plan F (1203 days), a close-ended debt fund. The tenure of the scheme is 1203 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 07 February to 12 February 2019.
The investment objective of the Scheme is to seek to generate income by investing in a portfolio of fixed income securities/ debt instruments maturing on or before the maturity of the Scheme.
The scheme offers growth plan, dividend plan (with payout facility), growth plan-direct and dividend plan-direct (with payout facility). Further, Plan (s) with a maturity of over 365 days also offers quarterly dividend (payout facility only) and quarterly dividend-direct (payout option only).
The scheme shall invest 80%-100% of assets in debt instruments with low to 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 Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry Load & exit load are not applicable.
Benchmark Index for the scheme will be CRISIL Composite Bond Fund Index.
Umesh Sharma and Sachin Padwal-Desai are the fund managers for the scheme.

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Indian Rupee: Edges Higher On Positive Local Shares

Feb 20 2019 1:33PM

The Indian rupee added small gains against the dollar in early trades on Wednesday, 20 February 2019 even as foreign fund outflows continued amid firming oil prices. Foreign institutional investors (FIIs) remained in sell-off mode, offloading shares worth a net Rs 813.76 crore Tuesday, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,163.85 crore, provisional data showed. However, a positive opening in the local equities supported rupee.
The domestic currency opened at Rs 71.29 against the dollar and registered an intra-day high and low of 71.1850 and 71.34 respectively so far during the day. In the spot currency market, the Indian unit was last seen trading at 71.25. The rupee had closed at 71.34 versus the greenback Monday. Money markets were closed Tuesday on account of Chhatrapati Shivaji Jayanti.
Domestic equity indices were trading near day's high in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 217.34 points or 0.61% at 35,569.95. The Nifty 50 index was up 69.65 points or 0.66% at 10,674.
Overseas, Asian shares traded higher on Wednesday after US-China trade talks resumed. Investors also awaited the release later on Wednesday of minutes from the US Federal Reserve's January policy-setting meeting, where policymakers took a dovish turn, effectively signaling no further rate hikes.
US stock indices held steady above the break-even line after opening lower on Tuesday. US President Donald Trump reportedly said Tuesday that trade talks with China are going well, adding the current March deadline is not a "magical date." Both countries have until then to come up with a deal. Otherwise, additional US tariffs on Chinese products could take effect. Trump indicated last week, however, he would be willing to push back the deadline.
Meanwhile, the dollar was capped against its peers on Wednesday on falling U.S. yields and before the Federal Reserve's policy meeting minutes, though it managed to gain on the yen as stronger investor risk appetite curbed demand for the Japanese currency. The U.S. currency was up 0.2 percent at 110.83 yen. The dollar index versus a basket of six major currencies was a touch lower at 96.451 after shedding about 0.4 percent overnight.

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Chana Sees Buying At Lower Level, Sentiments Cautious

Feb 20 2019 1:30PM


NCDEX Chana futures have been witnessing a mixed movement though buying is prevelant at lower levels as some traders are worried that the latest spell of modest rains in major producing areas in northern states could hurt the standing crop. The harvesting is about to begin and overall sentiments are cautious. Spot prices in Bikaner have been in a range of Rs 4200-4100 per quintal in last couple of weeks. While the other pulses like moong and tur are witnessing modest demand, losses in Chana have been curbed on poor arrivals in major market at Delhi. The supplies have averaged around 10-12 trucks over last couple of weeks, limiting downside for prices. The benchmark NCDEX Chana futures for March are currently trading at Rs 4250 per quintal, down 0.56% on the day. The counter tested a low of Rs 4233 per quintal earlier in the session

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BHP Expects Copper To Move In Range Of $6000-$6500 This Year

Feb 19 2019 10:35PM

Mining major BHP stated in a latest update that Copper prices ranged from $5,823/t to $6,595/t ($2.64/lb to $3.00/lb) over the second half of the calendar year, averaging $6,139/t ($2.78/lb)8. Prices never recovered from the shock of the US–China trade confrontation, which escalated in early June and helped push copper down from well above $7000/t to less than $6000/t over the course of July and early August.The company assesses that forward looking fundamentals for calendar 2019 support an approximate trading range of $6000/t to $6,500/t, based on an average rate of disruption to primary supply (i.e. an outcome closer to the historical 5 per cent loss, up from the preliminary estimate of around 3 per cent in calendar 2018). A durable peace on the trade front would provide upside to that range. Without a visible reduction in trade uncertainty, the likelihood of the price being anchored in the bottom half of the range is high.
Chinese end–use demand has been solid, but on a somewhat narrower base than in calendar year 2017. Demand growth from the rest of the world was softer than anticipated, particularly in the second half of the calendar year. Housing starts in the United States, which had been strong, have weakened noticeably, although business investment remains solid. Upstream electronics demand growth has decelerated, with global semiconductor sales growth down from a pace in excess of 20 per cent at the end of calendar year 2017 to the mid–single digits at the end of calendar 2018. Auto sales weakened noticeably in the second half of the calendar year, with the United States, Europe, Japan and Brazil all experiencing negative momentum. Purchasing managers’ index readings in Europe and developed Asia presaged this softening, having peaked in the March quarter of calendar 2018.
Turning to supply, along with the Chinese ban on the import of low grade copper scrap, expectations of impending disruptions to primary supply gave a bullish tone to market commentary a year ago. The reality turned out to be the reverse. Rather than being a year marked by above average disruptions, the loss of primary supply was only around 3 per cent, versus the historical average of 5 per cent (the average being equivalent to around –1000 kt). A major factor in this performance was that the majority of labour negotiations in South America were concluded relatively amicably and in basically timely fashion.
The global copper market is expected to remain roughly balanced for the next few years. Solid demand growth is expected to be matched with a combination of committed green and brownfield supply, restarts and rising scrap availability. Even so, the market looks to be finely, rather than comfortably balanced over this period, and it will be vulnerable to supply shocks throughout this phase, particularly in the concentrate segment.

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Gold Soars Sharply, COMEX Futures Hit Fresh Eight Month High

Feb 19 2019 10:34PM

COMEX Gold jumped sharply today, extending the recent gains as global equities saw a choppy pattern as traders remained focused on the US-China trade talks. Weak corporate earnings in Europe hurt the risk sentiments somewhat. Gold market eyed the drop in global Initial Coin Offering (ICO) market. Investment in startups conducting ICOs has decreased from $5.8 billion in March 2018 to $291 million in January 2019, recording a 95% fall, according to a new study by crypto analytics platform Coinschedule, noted media reports today. COMEX Gold futures hit a fresh eight month high, breaking above $1330 per ounce and currently trade at $1334 per ounce, up 0.90% on the day. MCX Gold futures are trading at Rs 33732 per 10 grams, up 0.37% on the day.
An escalation in the geopolitical tensions following the last week’s Pulawama attack is also keeping local Gold elevated as prices are approaching record highs in major spot markets. The retail demand is steady ahead of the wedding season. Domestic retail Gold market has been in a good shape following the populist Interim Budget with a clear focus on increasing incomes and boosting consumption.

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UK Employment Hits A Record High In December

Feb 19 2019 10:33PM

UK employment rose by 167,000 to a record high of 32.60 million in the three months to December, figures from the Office for National Statistics showed on Tuesday. The employment rate remained at 75.8 percent, which was the highest since comparable records began in 1971. The number of unemployed fell by 14,000 to 1.36 million from the July to September period. The ILO jobless rate was unchanged at 4 percent in the three months to December, which was the lowest since December 1974 to February 1975 period. The unadjusted average weekly earnings excluding bonuses grew 3.4 percent year-on-year, unchanged from November, which was revised from 3.3 percent.

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Anglo Gold Ashanti Production In 2018 Comes In Towards Top End Of Guidance At 3.4 MOZ

Feb 19 2019 10:32PM

AngloGold Ashanti reported a swing to net profit in the second half of 2018, following strong performance after the restructuring of its operations in South Africa. The South African gold mining company made a profit of $100 million in the six months ended December 2018, compared with a loss of $15 million in the year-earlier period. Revenue in the second half of the year fell 19% to $1.94 billion.
The redevelopment of the Obuasi mine, which was started in 2018, is on track to produce its first gold at the end of this year and to build-up to its full production rate during 2020. That follows on the ramp-up of production from the underground mine at Kibali, and commissioning of a new plant, able to process hard rock, at its Siguiri mine in Guinea.
Production for the year ended 31 December 2018 came in toward the top end of guidance at 3.4Moz. Production from retained operations in 2018 (excluding Moab Khotsong, Kopanang and TauTona), was 3.349Moz at a total cash cost of $765/oz, compared with 3.279Moz at $738/oz in 2017. All-in Sustaining Costs (AISC) for these retained operations were $968/oz for the year ended 31 December 2018, compared with $1,017/oz during the same periodd in 2017.
For the full year, AngloGold Ashanti recorded a profit of $133 million, compared with a loss of $191 million in 2017. Adjusted earnings before interest, taxes, depreciation and amortization for 2018 dropped slightly to $1.48 billion. In its year’s outlook, the company said that it expects production in a range of 3.25 million-3.45 million ounces. Capital expenditure for the year is forecast to be between $910 million-$990 million.

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UK Housing Affordability Improves At Fastest Pace In 8 Years In February

Feb 18 2019 10:32PM

UK housing affordability improved at the fastest pace in eight years in February, but annual house price growth remained weak, survey data from the property market data website Rightmove showed on Monday. UK's annual average wage growth of 3.4 percent outstripped asking prices at the fastest rate since 2011, the survey found. Average asking prices rose 0.7 percent month-on-month in February, after a 0.40 percent rise in January. Prices rose for a second straight month in February. Compared to the same month a year ago, house prices were 0.2 percent in February, which was the weakest pace since 2009.

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Chana Broadly Supported On Weak Supplies

Feb 15 2019 8:31PM

Spot Chana stayed supported today as lack of good quality supplies offered support in physical market. Traders are also focusing on the weather. NAFED is likely to increase selling in Rajasthan and MP and the overall elevated inventories with the government are likely to keep the commodity under check in coming days. However, ready Chana market in Delhi continues to see weak supplies and the quality of the arrivals has been poor too. The total acreage under rabi pulses is at 151.10 lh, down 6.10% while the Chana acreage is down 10% at 95.99 lh. Chana had eased after the commerce ministry extended the import restrictions on peas for another three months till March 31 this year. The spot Chana prices in Delhi are ruling around Rs 4400 per quintal while the prices in Bikaner are trading at Rs 4160 per quintal, down marginally on the day. The supplies in Delhi market were 15 trucks today.

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Mid-Session:Barometers trade with modest gains

Feb 20 2019 1:20PM

The market pared gains and traded with modest gains in early afternoon trade. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 164.22 points or 0.46% at 35,516.83. The Nifty 50 index was up 55.10 points or 0.52% at 10,659.45. Positive cues from other Asian stocks boosted investors sentiment.
The market opened higher and hit fresh intraday high in morning trade. Indices came off day's high in mid-morning trade and they further pared gains in early afternoon trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.38%. The BSE Small-Cap index was up 0.51%.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1281 shares rose and 938 shares fell. A total of 124 shares were unchanged.
Cement shares were in demand. ACC (up 2.19%), Ambuja Cements (up 2.17%) and UltraTech Cement (up 1.92%), edged higher.
Grasim Industries was up 1.40%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Most telecom shares climbed. MTNL (up 0.92%), Bharti Airtel (up 0.74%) and Tata Teleservices (Maharashtra) (up 0.32%), edged higher. Vodafone Idea (down 0.33%) and Reliance Communications (down 6.48%), edged lower.
Overseas, most Asian shares traded higher on Wednesday after US-China trade talks resumed. Investors also awaited the release later on Wednesday of minutes from the US Federal Reserve's January policy-setting meeting, where policymakers took a dovish turn, effectively signaling no further rate hikes.
US stock indices held steady above the break-even line after opening lower on Tuesday. US President Donald Trump reportedly said Tuesday that trade talks with China are going well, adding the current March deadline is not a "magical date." Both countries have until then to come up with a deal. Otherwise, additional US tariffs on Chinese products could take effect. Trump indicated last week, however, he would be willing to push back the deadline.
Representatives from the US and China are meeting in Washington this week to resume trade negotiations, with high level discussions set to happen later in the week, the White House said Monday. US is reportedly seeking to secure a pledge from China that it will not devalue its yuan currency as part of a trade deal.

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LME Inventory

Apr 12 2017 1:51PM

       COPPER: -850 MT

       ZINC: -1850 MT

       LEAD: -1025 MT

       NICKLE: -1194 MT

       ALUMINIUM: -13575 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]