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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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ICICI Bank launches first mortgage guarantee-backed home loan product

Aug 26 2015 3:46PM

ICICI Bank launched the country's first mortgage guarantee-backed home loan product that will expand the credit amount and increase the tenure for an additional fee as well, said the media report.

It will help customers raise the eligible amount by up to 20 per cent and increase the tenure by up to seven years, MD and CEO Chanda Kochhar said as per the PTI report.

ICICI Bank Extraa Home Loans can be availed only after paying a one-time mortgage guarantee fee to be paid at the start.

Executive Director Rajiv Sabharwal said the fee will depend on the age of the borrower, extension in tenure, the nature of her income -- whether she is salaried or self-employed - and the loan-to-value ratio.

It will be up to two per cent of the overall loan, including the incremental component, he said.

The product has been launched in association with the India Mortgage Guarantee Corporation, which will guarantee the incremental risk, Sabharwal said, adding that it conforms to all regulatory norms.

The product is targeted at middle-aged individuals and the self-employed, he said.

Such products are popular in the US and Canada, Sabharwal added.

It can be recalled that over-leveraging of property by multiple loans is one of the reasons for the collapse of the American banking system in 2008, which led to the collapse of the global economy with the fall of Lehman Brothers and many other Wall Street titans.

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Cambridge Technology inks pact with Netherlands-based tech firm

Aug 26 2015 3:45PM

IT service provider, Cambridge Technology Enterprises Ltd said that it has inked an agreement with a Netherlands based technology company connecting the worlds of print, archive, and online.

The customer has developed its own patented Enterprise Content Management (ECM) platform, the company said in a filing to the Bombay Stock Exchange.

Their software solutions manage huge amounts of media content by allowing clients to safely preserve, organize, and distribute content in print and digital formats, it added.

The customer possesses nearly a decade of print media industry experience and is a recognized leader within the emerging ECM market segment as they serve customers across the globe.

Commenting on the development, Cambridge Technology Enterprises, Chairman, Aashish Kalra, said, “CTE focuses on delivering challenges in the domain of integration of cloud and bid data. Providing our services to the companies such as this, introduces us to new challenges that once met, enable us to build new business connections while also growing as a company.”

Meanwhile, shares of the company were trading at Rs 50.40 a piece, up 1.20 per cent from the previous close at 15:15 hours on BSE.

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Indo Rama Synth. - Dividend Payment Date

Aug 26 2015 3:44PM

Indo Rama Synthetics (India) Ltd has informed BSE that the Company has distributed dividend of Re. 1/- per equity share of Rs.10/- each to its members on August 25, 2015, which was recommend by the Board of Directors in their meeting held on May 18, 2015 and approved/declared by the Members at the 29th Annual General Meeting of the Company held on July 30, 2015.

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Sun Pharma gains after getting USFDA nod for a drug for treatment of acne

Aug 20 2015 11:52AM

Sun Pharmaceutical Industries made the announcement after market hours yesterday, 19 August 2015.

Meanwhile, the S&P BSE Sensex was down 46.34 points or 0.17% at 27,885.30

On BSE, so far 68,964 shares were traded in the counter as against average daily volume of 3.81 lakh shares in the past one quarter.

The stock hit a high of Rs 954.95 and a low of Rs 941.55 so far during the day. The stock had hit a record high of Rs 1,200.70 on 7 April 2015. The stock had hit a 52-week low of Rs 748.15 on 26 September 2014.

The large-cap company has an equity capital of Rs 240.65 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries said that its Ximino brand of extended-release capsules are indicated for inflammatory lesions of non-nodular moderate to severe acne vulgaris in patients 12 years of age and older. The approval for the drug from the US Food and Drug Administration (USFDA) further strengthens the company's branded dermatology portfolio in the US, Sun Pharmaceutical Industries said. The company expects Ximino extended-release capsules to be available for patients during the fourth quarter of the current calendar year.

Sun Pharmaceutical Industries' consolidated net profit dropped 60.2% to Rs 478.96 crore on 5.2% growth in total income to Rs 6862.96 crore in Q1 June 2015 over Q1 June 2014.

Sun Pharmaceutical Industries manufactures specialty and generic medicines, targeting a wide spectrum of chronic and acute treatments. The therapeutic segments include psychiatry, anti-infectives, neurology, cardiology, orthopaedic, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynaecology, respiratory, oncology, dental and nutritionals.

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Five stocks see mixed trend after getting RBI approval for payments bank

Aug 20 2015 11:50AM

Tech Mahindra (up 2.13%), Bharti Airtel (up 1.61%) and Aditya Birla Nuvo (up 1.15%) edged higher. Reliance Industries (down 1.04%) and Cholamandalam Investment & Finance Company (down 0.39%) declined.

Meanwhile, the BSE Sensex was down 44.01 points, or 0.16%, to 27,887.63

A total of 11 companies, which include Reliance Industries, Tech Mahindra, Bharti Airtel, Aditya Birla Nuvo and Cholamandalam Investment & Finance Company have received in-principle approval from the Reserve Bank for setting up payments bank. The in-principle approval will be valid for a period of 18 months, after which the RBI will grant final approval if the applicants fulfill all conditions stipulated by the central bank. Until a regular licence is issued, the applicants cannot undertake any banking business. As per the guidelines issued by the RBI in November last year, a payments bank will provide payments and remittance services through various channels. A payments bank cannot undertake lending activities. It may be recalled that a Committee on Comprehensive Financial Services for small businesses and low income households headed by Dr. Nachiket Mor in its report released in January 2014 recommended the licensing of payment banks to offer financial services to the hitherto excluded segments of the population.

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Amtek Auto tumbles to 52-week low on high volume

Aug 20 2015 11:49AM

The stock dropped on high volume. On BSE, so far 82.73 lakh shares were traded in the counter, compared with an average volume of 5.95 lakh shares in the past one quarter.

The stock hit a 52-week low of Rs 50.70 in intraday trade so far. The stock hit a high of Rs 80.10 so far during the day. The stock hit a 52-week high of Rs 266 on 12 September 2014.

The small-cap company has an equity capital of Rs 44.06 crore. Face value per share is Rs 2.

Shares of Amtek Auto saw steep decline recently. The stock dropped 54.3% in four trading days from a recent high of Rs 149.25 on 14 August 2015. The stock lost a staggering 30.77% to settle at Rs 89 in a single trading day yesterday 19 August 2015 after the National Stock Exchange on 18 August 2015 announced that the bourse has decided to exclude the stock from its equity derivatives segment.

The National Stock Exchange (NSE) in a circular issued after trading hours on 18 August 2015, announced that the bourse has decided to exclude the Amtek Auto stock from its equity derivatives segment based on the stock selection/exclusion criteria prescribed by Securities and Exchange Board of India (Sebi). NSE said that derivatives contracts for new expiry months in Amtek Auto will not be issued on expiry of existing contract months.

Amtek Auto reported net loss of Rs 157.60 crore in Q3 June 2015 as against net profit of Rs 86.08 crore in Q3 June 2014. Net sales declined 12.7% to Rs 854.22 crore in Q3 June 2015 over Q3 June 2014.

Amtek Auto is one of the largest integrated automotive component manufacturers in India with a strong global presence. Amtek Auto has a presence in forging, grey and ductile iron casting, gravity and high-pressure aluminum die casting and machining and sub-assembly. The company also manufactures components for non-auto sectors such as the railways, specialty vehicles, aerospace, agricultural and heavy earth moving equipment. The company has manufacturing facilities in India, Europe and North America.

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Gayatri Projects spurts after strong Q1 outcome

Aug 17 2015 4:44PM

The stock hit a high of Rs 445 and low of Rs 424.20 so far during the day. The stock had hit a 52-week high of Rs 464.60 on 6 August 2015. The stock had hit a 52-week low of Rs 108.05 on 19 August 2014.

The stock had outperformed the market over the past one month till 14 August 2015, rising 11.23% compared with a 0.48% rise for the Sensex. The scrip also outperformed the market in past one quarter, surging 155.2% as against Sensex's 3.17% rise.

The small-cap infrastructure company has equity capital of Rs 33.83 crore. Face value per share is Rs 10.

Gayatri Projects undertakes civil construction work such as construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports and ports.

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Vivimed Labs gallops after good Q1 outcome

Aug 17 2015 4:42PM

The stock hit a high of Rs 309.90 and a low of Rs 272.60 so far during the day. The stock hit a 52-week high of Rs 435.40 on 1 December 2014. The stock hit a 52-week low of Rs 175 on 24 June 2015.

The stock had outperformed the market over the past one month till 14 August 2015, rising 7.7% compared with a 0.48% rise for the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 19.85% as against Sensex's 3.17% rise.

The small-cap company has an equity capital of Rs 16.20 crore. Face value per share is Rs 10.

Vivimed Labs is a leading manufacturer and exporter of specialty chemicals mainly used in the personal-care and pharmaceutical industries.

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IDFC enters into non-binding LoI for setting up Payment Bank

Aug 20 2015 11:58AM

IDFC announced that IDFC has entered into Non Binding Letter of Intent with Dilip Shantilal Shanghvi and Telenor Financial Services AS for setting up a Payment Bank wherein IDFC and/ or its affiliates would be holding 19.99% stake.

This is with reference to the Press Release dated 19 August 2015 issued by the Reserve Bank of India (“RBI”) announcing the names of the entities to whom the In-Principle approval was granted to set up payments banks. Dilip Shantilal Shanghvi is one of the successful applicants who have been awarded the "In principle” approval for setting up a “Payment Bank”.

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Mercator gains after announcing oil discovery

Aug 20 2015 11:57AM

The stock hit a high of Rs 25.40 and a low of Rs 23.75 so far during the day. The stock hit a 52-week high of Rs 37.20 on 21 August 2014. The stock hit a 52-week low of Rs 14.55 on 3 June 2015.

The small-cap company has an equity capital of Rs 24.49 crore. Face value per share is Rs 1.

Mercator said that Mercator Petroleum (MPL), subsidiary of the company made an oil discovery in its second well Jyoti-2, Block CB-ONN-2005/9 of Cambay Basin, India. This discovery is Mercator's second oil discovery after the recent success of Jyoti-1. The company was awarded two oil blocks in Cambay Basin under New Exploration Licensing Policy (NELP) VII by Government of India. The discovery has been notified to the Directorate of General of Hydrocarbons (DGH).

Mercator said that both the discoveries (Jyoti-1 and Jyoti-2) in quick succession not only substantiates the high prospectively of the area but also provides encouraging and positive inputs for pursuing the exploration program further with identified prospects and leads.

On a consolidated basis, Mercator reported net loss of Rs 35.40 crore in Q1 June 2015, as compared to net loss of Rs 12.31 crore in Q1 June 2014. Net sales fell 4.9% to Rs 718.37 crore in Q1 June 2015 over Q1 June 2014.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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Reliance Industries prices US$ 225 million 2.512% Notes due 2026

Aug 20 2015 11:54AM

Reliance Industries on 18 August 2015 priced an offering of USD 225 million 2.512% Notes due 2026 guaranteed by the Export-Import Bank of United States (Ex-Im Bank).

The proceeds of these fixed rate Notes will be utilised by the Company to replace a portion of the Ex-Im Bank guaranteed floating rate loan which was availed to finance capital expenditure at the Company's Jamnagar site in India.

Transaction Highlights

First ever Ex-Im Bank guaranteed Note issuance globally by a private sector energy company.

Longest tenor Ex-Im Bank guaranteed Note issuance globally by a non-aviation private sector company.

First ever Ex-Im Bank guaranteed Note issuance out of India.

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LIC Nomura MF Interval Fund Quarterly Plan Series 2 Announces Dividend

Aug 14 2015 5:01PM

LIC Nomura Mutual Fund has announced 19 August 2015 as the record date for declaration of dividend under dividend option and direct-dividend option of LIC Nomura MF Interval Fund Quarterly Plan Series 2. The quantum of dividend will be the entire distributable surplus as on record date on the face value of Rs 10 per unit.

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Board of Calcom Vision appoints CFO

Aug 14 2015 5:00PM

Calcom Vision announced that the Board of Directors of the Company at its meeting held on 13 August 2015, inter alia, has considered and approved the following :

- Appointment of Nitin Gupta as Chief Financial Officer of the Company.

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Outcome of board meeting of J D Orgochem

Aug 14 2015 5:00PM

J D Orgochem announced that the Board of Directors of the Company at its meeting held on 14 August 2015, inter alia, have approved the followings:

1. Appointment of Bharati R. Chandan, as an Additional Director (Woman Director) under Non-Executive Independent Director, whose terms of office expires at the ensuring Annual General Meeting.

2. Approved the Notice of 41st Annual General Meeting of the Company to be held on 29 September 2015.

3. Appointed Keyul M. Dedhia of M/s Keyul M. Dedhia & Associates, Practicing Company Secretaries as Scrutinizer to scrutinize the e-voting process for ensuing Annual General Meeting (AGM).

4. Appointed M/s. Maganlal & Ajay Mehta, Chartered Accountants as the Statutory Auditors for the financial 2015-16 subject to the approval of the members at the ensuing Annual General Meeting (AGM).

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Outcome of board meeting of Nihar Info Global

Aug 14 2015 5:00PM

Nihar Info Global announced that the Board of Directors of the Company at its meeting held on 14 August 2015, inter alia, has dealt with the following business

- The Board has noted the operationalisation of Nihar Market (www.niharmarket.com) which operates a group of seven online eCommerce Portals i.e., www.ITdukan.com www.Smartmelody.in. www.Cinescope in. www.makeadeal.com. www.goldnsilver.in, www.anyservice.in, www.banyanstore.com, which sells various types of products and services.

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Innoventive Venture to hold board meeting

Aug 13 2015 12:05PM

Innoventive Venture will hold a meeting of the Board of Directors of the Company on 14 August 2015, to consider and approve unaudited Financial Results of the Company for the quarter ended 30 June 2015.

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Tata Mutual Fund declares 0.01% Dividend

Aug 26 2015 3:50PM

Tata Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “Tata Money Market Fund - Regular Plan” on the face value of Rs 1000 per unit. The record date for the dividend was August 24. The latest NAV of the scheme is Rs 1001.52. The investment objective of the open ended debt scheme is to create a highly liquid portfolio of money market instruments so as to provide reasonable returns & high liquidity to the unitholders. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Amit Somani is the fund manager of the scheme.

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SBI Mutual Fund launches New Close Ended Scheme

Aug 26 2015 3:49PM

SBI Mutual Fund has launched a new close ended debt scheme named “SBI DEBT FUND SERIES B - 25 (1100 DAYS)” with maturity period of 1100 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on August 26 and will close on August 27. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against Crisil Short Term Bond Fund Index. Rajeev Radhakrishnan will be the fund manager of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to provide regular income and capital growth with limited interest rate risk will be met by investing in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme. Hence, the scheme will allocate 60 to 100 per cent of asset in Debt Instruments and 0 to 40 per cent of asset in Money Market Instruments.

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Tata Mutual Fund declares 0.11% Dividend

Aug 21 2015 1:47PM

Tata Mutual Fund has announced 0.11 per cent dividend under dividend payout option of scheme named as “Tata Floating Rate Fund - Long Term - Regular Plan” on the face value of Rs 1000 per unit. The record date for the dividend was August 19. The latest NAV of the scheme is Rs 1018.33. The investment objective of the open ended debt scheme is to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Amit Somani is the fund manager of the scheme.

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Reliance Mutual Fund launches New Close Ended Scheme

Aug 21 2015 1:47PM

Reliance Mutual Fund has launched a new close ended income scheme named “Reliance Fixed Horizon Fund XXIX- Series 4” with maturity period of 1118 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on August 21 and will close on August 24. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index. Amit Tripathi will be the fund manager of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate returns and growth of capital will be met by investing in a diversified portfolio of Central and 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. Hence, the scheme will allocate 80 to 100 per cent of asset in Debt Instruments and Government Securities and 0 to 20 per cent of asset in Money Market Instruments.

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Axis Enhanced Arbitrage Fund Announces Dividend

Aug 20 2015 12:05PM

Axis Mutual Fund has announced 25 May 2015 as the record date for declaration of dividend under the regular plan-dividend option & direct plan-dividend option of Axis Enhanced Arbitrage Fund. The quantum of dividend will be Re 0.05 per unit under each plan on the face value of Rs 10 per unit.

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Axis Equity Saver Fund Announces Change In Exit Load Structure

Aug 20 2015 12:03PM

Axis Mutual Fund has announced change in exit load under Axis Equity Saver Fund, with effect from 20 August 2015.

Accordingly the revised exit load will be:

If redeemed / switch out within 12 months from the date of allotment:

- For 10% of investment: Nil

- For remaining investment: 1%

If redeemed / switched out after 12 months from the date of allotment: Nil

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1.4% div declared under Religare Invesco Dynamic Equtiy Fund

Aug 19 2015 12:31PM

Religare Invesco Mutual Fund has announced 1.4 per cent dividend under dividend payout option of scheme named as “Religare Invesco Dynamic Equtiy Fund” on the face value of Rs 10 per unit.

The record date for the dividend is August 20. The latest NAV of the scheme is Rs 19.89.

The investment objective of the open ended equity diversified scheme is to generate long-term capital growth from a focused portfolio of predominantly equity and equity-related securities.

The performance of the scheme was benchmarked against S&P BSE 100. Vetri Subramaniam is the fund manager of the scheme.

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HDFC MF unveils new close ended scheme

Aug 19 2015 12:31PM

 HDFC Mutual Fund has launched a new close ended income scheme named “HDFC Dual Advantage Fund - Series I” with maturity period of 1100 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on August 19 and will close on September 02, 2015.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Regular Option and Direct Option.

The performance of the scheme will be benchmarked against CRISIL Debt Hybrid 75+25 Fund Index. Anil Bamboli, Vinay R. Kulkarn and Rakesh Vyas will be the fund managers of the scheme.

The asset allocation of the scheme will be in such a way that the objective of the scheme to generate returns will be met by investing in a portfolio of debt and money market instruments. Hence, the scheme will allocate 75 to 100 per cent of asset in Debt Instruments and Money Market Instruments and 0 to 25 per cent in equity and equity related instruments.

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Natural Gas rebounds on weather outlook

Aug 26 2015 3:52PM

 Natural Gas prices rallied more than 1 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer weather across key gas consuming regions in the US bolstered the demand outlook for the power plant fuel which is used to fire up air conditioners at offices and homes.

Latest weather forecasting models have called for hot weather across most parts of the southern and western US, lifting the need for gas fired cooling.

About 49 per cent of US households use natural gas for cooling purposes.

At the MCX, Natural Gas futures for August 2015 contract closed at Rs 177.80 per 1 kg, up by 1.08 per cent after opening at Rs 176.90, against the previous closing price of Rs 175.90. It touched the intra-day high of Rs 178.10 till the closing.

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Rises in buying interest lifts Mentha oil futures

Aug 26 2015 3:51PM

Mentha oil prices rose by 0.18 per cent on Wednesday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for August 2015 contract, at MCX, were trading at Rs. 965.30 per kg, up by 0.18 per cent after opening at Rs. 968.90 against the previous closing price of Rs. 963.60. It touched the intra-day high of Rs. 972.70 till the trading. (At 2.45 PM today).

Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.

About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.

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Natural Gas plunges as traders assess mixed weather outlook

Aug 26 2015 11:20AM

Natural Gas futures plunged more than 1.5 per cent in the domestic market on Tuesday as investors assessed latest US weather forecasts to gauge the strength of the demand for the fuel in the world’s biggest economy.

While hot weather was predicted for most parts of the southern and western US, cooler weather is expected for most parts of the Great Lakes, Northeast and Midwest regions later this week, signaling a mixed demand outlook for the power plant fuel which is used to fire up air conditioners at offices and homes.

About 49 per cent of US households use natural gas for cooling purposes.

Meanwhile, at 3.030 trillion cubic feet as of August 14, US gas storage levels are 19.2 per cent above the year ago levels and 2.7 per cent higher than the five-year average for the same time of the year, signaling ample supplies.

At the MCX, Natural Gas futures for August 2015 contract closed at Rs 175.90 per 1 kg, down by 1.57 per cent after opening at Rs 178.30, against the previous closing price of Rs 178.70. It touched the intra-day low of Rs 175.60 till the closing.

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Improved demand lifts Cardamom futures

Aug 26 2015 11:19AM

Cardamom prices rose by 0.20 per cent on Wednesday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for September 2015 contract were trading at Rs 785.90 per kg, up by 0.20 per cent, after opening at Rs. 785.70 against the previous closing price of Rs. 784.30. It touched the intra-day high of Rs. 788 till the trading. (At 10.35 AM today). Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.

Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

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Zinc dips on downbeat demand

Aug 25 2015 5:24PM

Zinc futures fell by 0.09 per cent to Rs 114.80 per kg today as speculators reduced positions in the midst of a weak trend overseas. Besides, low demand in domestic spot markets fuelled the downtrend. Zinc futures for August 2015 contract, at MCX, were trading at Rs 114.80 per kg, down by 0.09 per cent after opening at Rs. 114.60 against the previous closing price of Rs. 114.90. It touched the intra-day low of Rs. 113.35 till the trading. (At 4.15 PM today). Sentiment weakened further due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 2800 metric tonnes to 525550 metric tonnes as on August 25, 2015.

Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.

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Copper falls as China stocks dip again

Aug 25 2015 5:23PM



 Copper prices fell by 0.15 per cent on Tuesday as Chinese stock markets plunged again, adding to concerns over the health of the world's second largest economy which reduced the demand outlook for the metal. The Shanghai Composite tumbled nearly 8 per cent on Tuesday, one day after suffering its biggest one-day drop since February 2007, as investors dumped shares amid disappointment that Beijing held back from implementing fresh measures to support stocks. At the MCX, copper futures for August 2015 contract were trading at Rs. 334 per 1 kg, down by 0.15 per cent, after opening at Rs. 334.75 against the previous closing price of Rs. 334.50. It touched the intra-day low of Rs. 330.05 till the trading. (At 4.20 PM today).

However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 650 metric tonnes to 355550 metric tonnes as on August 25, 2015.

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Silver tad higher on safe haven demand, dollar pullback

Aug 21 2015 1:46PM

  Silver futures were trading with mild gains during noon trade as rising concerns over the health of the global economy amid fears over a worsening China slowdown and weakening currencies bolstered the safe haven demand for Silver.

Investors shunned equities with Asian stocks hitting a 17-month low as China’s Shanghai Composite dropped by over 3 per cent, while markets in Hong Kong and Japan also treaded water after a Chinese factory gauge shrank sharply in August, raising more fears over the world’s second biggest economy, bolstering the appeal of safer assets such as the Bullion.

A weaker dollar also boosted the demand for Silver as an alternative asset. Weaker greenback makes the bullion cheaper for those holding other currencies, thus bolstering demand.

Doubts over the timing of a maiden Fed rate hike in nine years prompted slight caution among investors as a Fed official stressed that perhaps the Fed needs to target a higher inflation rate, meaning a dovish approach to rate tightening.

At the MCX, Silver futures for September 2015 contract is trading at Rs 36,339 per 1 kg, up by 0.08 per cent after opening at Rs 36,464, against the previous closing price of Rs 36,310. It touched the intra-day high of Rs 36,786

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Profit Krishna

Castorseed rises as demand surges

Aug 21 2015 1:45PM

 Castorseed prices rose by 0.37 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for September 2015 contract were trading at Rs. 4,109 per quintal tonnes, up by 0.37 per cent, after opening at Rs. 4,095 against the previous closing price of Rs. 4,094. It touched the intra-day high of Rs. 4,124 till the trading. (At 12.45 PM today).

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

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Profit Krishna

Mid-Session: Dalal-Street leaps on hopes of RBI rate cut

Aug 27 2015 1:45PM

 Tracking firm global cues, the Indian equities witnessed a smart rebound on Thursday, reversing the heavy losses in the previous session, as markets from China to the US make an impressive comeback, bolstering risk taking appetite. The 30-share Sensex rallied over 300 points amid a strong all-round buying support. The recovery in rupee also gave a lift to market sentiments.

At 12:20 hours, the BSE SENSEX was trading at 26046.6, up by 331.94 points or by 1.29 per cent, and the NSE Nifty was quoting 102.25 points higher at 7894.1.

In the bullish trade so far, the BSE Sensex touched an intraday high of 26170.39 and intraday low of 25943.75, while the NSE Nifty touched high and low of 7930.8 and 7862.3, respectively.

Hopes of a delayed US Federal Reserve interest rate hike coupled with fresh stimulus injection in China also helped revive investor sentiment. Any delay in the US fed rate hikes brightened the hope of a possible rate cut from the Reserve Bank of India (RBI) in its next policy review meet scheduled on September 29.

Early today, Indian equities opened higher on short covering by participants on expiry of the August Futures & Options (F&O) contracts today.

Leading the rally on the D-Street were Housing Development Finance Corporation Ltd. (Rs. 1169.55,+6.09%), Vedanta Ltd. (Rs. 90.05,+5.26%), Cipla Ltd. (Rs. 657.75,+3.41%), Lupin Ltd. (Rs. 1860.50,+2.69%), Infosys Ltd. (Rs. 1085.60,+1.90%), among others.

However, some selling were witnessed in stocks, such as Bharat Heavy Electricals Ltd. (Rs. 230.50,-4.04%), Bajaj Auto Ltd. (Rs. 2187.15,-2.54%), Hero MotoCorp Ltd. (Rs. 2370.95,-0.88%), Hindalco Industries Ltd. (Rs. 80.05,-0.81%), HDFC Bank Ltd. (Rs. 1011.05,-0.46%), among others.

On the sectoral front, oil and gas and healthcare indices were among top gainers on BSE, adding 2.42 per cent and 1.97 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2359, shares advanced were 1732 while 550 shares declined and 77 were unchanged.

On the global front, the Asian equities rebounded strongly on Thursday, with markets in China halting the biggest five-day slump since 1996 as valuations at the lowest level in eight months induced bargain buying. Shanghai Composite jumped nearly 3 per cent, reversing the 1.3 per cent slide on Wednesday. Hang Seng also advanced nearly 3 per cent while Japan’s Nikkei 225 rallied over 1 per cent as a weaker yen bolstered the appeal of exporter stocks.

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Profit Krishna

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]