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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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Wipro allots equity shares to employees

Jul 28 2016 5:30PM

Country’s third largest software exporter Wipro Ltd on Thursday said it has allotted 9,791 equity shares under ADS RSU Plan 2004 to the employees of the company pursuant to exercise of ESOPs.

In a filing to the Bombay Stock Exchange, Wipro said, “The company has allotted 9,791 equity shares under ADS RSU Plan 2004 to the employees on July 26, 2016 pursuant to exercise of ESOPs.”

Meanwhile, shares of the company closed at Rs 553.30 apiece, up 0.86 per cent, from previous close on BSE.









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Bajaj Auto Q1 net up 2% at Rs 978 cr

Jul 27 2016 5:20PM

Country’s one of the leading auto makers Bajaj Auto Ltd on Wednesday reported a growth of 2.2 per cent in its standalone net profit after taxes (PAT) at Rs 978.37 crore for the first quarter ended June 30, 2016, impacted by headwinds in export markets and input cost pressures.

“The standalone net profit of the company stood at Rs 957.36 crore during the same period a year ago,” Bajaj Auto Ltd said in a filing to the Bombay Stock Exchange on July 27, 2016.

Further, its standalone total income too grew by 2.7 per cent at Rs 6,355.81 crore during Q1 2016-17, as compared to Rs 6,187.5 crore during the same period last year.

On consolidated basis, it has posted a net profit after tax, minority interest and share of profit of associates of Rs 1,039.7 crore for the quarter ended June 30, 2016 as compared to Rs 913.86 crore for the quarter ended June 30, 2015. The total Income has increased from Rs 6,098.36 crore for the quarter ended June 30, 2015 to Rs 6,355.84 crore for the quarter ended June 30, 2016.

Meanwhile, shares of the company closed at Rs 2,668.75 apiece, down 0.05 per cent, from previous close on BSE.



 

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ACC gains after commencing commercial production at clinker facility

Jul 20 2016 5:42PM

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 19,056 shares in the past one quarter. The stock hit a high of Rs 1,633.40 and a low of Rs 1,604 so far during the day. The stock had hit a 52-week high of Rs 1,640 on 15 July 2016. The stock had hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had underperformed the market over the past one month till 19 July 2016, advancing 3.36% compared with Sensex's 4.36% rise. The scrip had, however, outperformed the market in past one quarter, gaining 9.51% as against Sensex's 7.64% rise.

The large-cap company has equity capital of Rs 187.79 crore. Face value per share is Rs 10.

ACC said that two new cement grinding facilities, one each at Jamul in Chhattisgarh and Sindri in Jharkhand, which form part of this integrated project, are expected to be commissioned within third quarter of 2016. This project will facilitate the company in serving its expanding customer base in the fast-growing market in East India, offering premium quality products like ACC F2R (Foundation to Roof), ACC Plus and Hi-performance PSC cements for complete concreting solutions, ACC said in a statement.

ACC is scheduled to announce its Q2 June 2016 results on 26 July 2016. The company's consolidated net profit fell 4.1% to Rs 226.95 crore on 1.5% growth in net sales to Rs 2927.38 crore in Q1 March 2016 over Q1 March 2015.

ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

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Bhel gains after commissioning a unit of power project

Jul 20 2016 5:40PM

On BSE, so far 6.1 lakh shares were traded in the counter as against average daily volume of 8.24 lakh shares in the past one quarter. The stock hit a high of Rs 143.45 and a low of Rs 139.65 so far during the day. The stock had hit a 52-week high of Rs 289.85 on 21 July 2015. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, advancing 14.06% compared with Sensex's 4.36% rise. The scrip had, however, underperformed the market in past one quarter, gaining 5.4% as against Sensex's 7.64% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) has successfully commissioned the third unit of the 160 megawatts (MW) Teesta Low Dam Hydro Electric Project (HEP) Stage-IV in West Bengal. The greenfield project located in Darjeeling district of West Bengal, Teesta HEP is being set up by National Hydroelectric Power Corporation (NHPC), on the River Teesta. The fourth and final unit of the project is also in advanced stages of execution. The order for electrical & mechanical (E&M) works for four units of 40 MW each was placed on Bhel by NHPC.

Bhel is presently executing hydro electric projects of around 3,300 MW in the country which are under various stage of implementation. Other projects of NHPC currently under execution by Bhel are the 800 MW Parbati HEP Stage – II and 330 MW Kishanganga HEP. In West Bengal, Bhel is also executing the 120 MW Rammam Stage-III hydro-electric project of NTPC. Significantly, more than 500 hydro generating sets with a cumulative capacity of more than 29,000 MW of various ratings have been contracted on Bhel in India and abroad. Of this, equipment for about 5,700 MW generating capacity has been contracted outside India.

Bhel's net profit fell 59.5% to Rs 359.58 crore on 20.8% fall in net sales to Rs 9792.04 crore in Q4 March 2016 over Q4 March 2015.

State-run Bharat Heavy Electricals (Bhel) is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016)

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New export order boosts SSWL

Jul 20 2016 5:40PM

On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 9,131 shares in the past one quarter. The stock hit a high of Rs 488 and a low of Rs 469 so far during the day. The stock had hit a record high of Rs 495 on 15 July 2016. The stock had hit a 52-week low of Rs 284 on 17 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, advancing 7.26% compared with Sensex's 4.36% rise. The scrip had also outperformed the market in past one quarter, gaining 22.39% as against Sensex's 7.64% rise.

The small-cap company has equity capital of Rs 15.52 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) said it has secured its maiden export order from Mobius Motors, Kenya. Supplies would be executed from the company's Dappar plant in Punjab. SSWL, which is already supplying wheels to Morocco and Egypt, aims to further increase its presence in the African continent. Recent order from Kenya supports this strategy, SSWL said.

SSWL's net profit rose 55.1% to Rs 18.49 crore on 5.1% growth in net sales to Rs 308.88 crore in Q4 March 2016 over Q4 March 2015.

SSWL designs & manufactures automotive steel wheels and is among the leading supplier to Indian & global automobile manufacturers.

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Ashoka Buildcon gains after its subsidiary wins road project

Jul 19 2016 6:01PM

On BSE, so far 66,775 shares were traded in the counter, compared with an average volume of 63,269 lakh shares in the past one quarter. The stock hit a high of Rs 170.30 and a low of Rs 160 so far during the day. The stock hit a record high of Rs 211.90 on 23 December 2015. The stock hit a 52-week low of Rs 111 on 7 April 2016. The stock had outperformed the market over the past one month till 18 July 2016, gaining 19.65% compared with Sensex's 4.21% rise. The scrip had also outperformed the market in past one quarter, advancing 10.4% as against Sensex's 7.48% rise.

The mid-cap company has an equity capital of Rs 93.57 crore. Face value per share is Rs 5.

Ashoka Buildcon announced that the company's subsidiary Ashoka Concessions (ACL) emerged as the lowest bidder for the National Highways Authority of India (NHAI) road project for 4/6 laning of Kharar to Ludhiana section of NH-95 in Punjab on hybrid annuity mode. The company quoted a bid project cost of Rs 1600 crore.

On a consolidated basis, Ashoka Buildcon reported net loss of Rs 7.31 crore in Q4 March 2016 compared with net profit of Rs 37.81 in Q4 March 2015. Net sales fell 10.8% to Rs 714.96 crore in Q4 March 2016 over Q4 March 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

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Bharat Bijlee tumbles after posting dismal Q1 numbers

Jul 19 2016 6:01PM

High volumes were witnessed on the counter. On BSE, so far 40,889 shares were traded in the counter as against average daily volume of 8,484 shares in the past one quarter. The stock hit a high of Rs 907 and a low of Rs 853.30 so far during the day.

Bharat Bijlee's net total income from operations fell 1.15% to Rs 130.27 crore in Q1 June 2016 over Q1 June 2015.

Bharat Bijlee is one of the leading electrical engineering companies in India. The company's main business segments are transformers, projects, electric motors, elevator systems and drives & automation.

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Bal Pharma gains on mulling key business propositions

Jul 19 2016 6:00PM

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 22,650 shares in the past one quarter. The stock hit a high of Rs 102 and a low of Rs 99.85 so far during the day. The stock had hit a record high of Rs 167.90 on 13 January 2016. The stock had hit a 52-week low of Rs 60.50 on 25 August 2015. The stock had outperformed the market over the past one month till 18 July 2016, gaining 12.78% compared with Sensex's 4.21% rise. The scrip had, however, underperformed the market in past one quarter, sliding 3.44% as against Sensex's 7.48% rise.

The small-cap company has equity capital of Rs 14.17 crore. Face value per share is Rs 10.

On consolidated basis, Bal Pharma reported net loss of Rs 3.15 crore in Q4 March 2016 compared with net profit of Rs 0.34 crore in Q4 March 2015. Net sales rose 7.9% to Rs 53.88 crore in Q4 March 2016 over Q4 March 2015.

Bal Pharma is a fully integrated and leading Indian pharmaceutical company specializing in prescription drugs, generic, OTC products, intravenous infusions, bulk drugs (APIs) and also Ayurvedic formulations.

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KFIL gets board nod to buy VSL Steels’ pig iron plant

Jul 28 2016 5:29PM

Kirloskar Group flagship firm Kirloskar Ferrous Industries Ltd (KFIL) on Thursday said its board has granted its in-principle approval for acquisition of pig iron plant of VSL Steels Ltd for a cash consideration of Rs 155 crore.

In a filing to the Bombay Stock Exchange, the company said, “The Board of Directors of the company at its meeting held on July 28, 2016 has granted its in-principle approval for acquisition of movable and immovable assets relating to the pig iron plant of VSL Steels Limited (the seller) for a cash consideration of Rs 155 crore.”

The company further said that the transaction amount will be payable in installments and will be subject to certain commercial conditions, necessary governmental or regulatory approvals and the approval of the Board of Directors and shareholders of VSL Steels Ltd, it added.

Meanwhile, shares of the company closed at Rs 82.45 apiece, up 0.37 per cent, from previous close on BSE.

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Dish TV India net dips 24.6% at Rs 40.87 cr in June quarter

Jul 28 2016 5:28PM

Dish TV India Ltd, India’s largest Direct to Home television operator, has reported a fall of 24.6 per cent in its April-June quarter net profit at Rs 40.87 crore ended June 30 this year.

The consolidated net profit after taxes of the Essel Group firm stood at Rs 54.21 crore during the same period a year ago, said Dish TV India Ltd in a filing to the Bombay Stock Exchange on July 28, 2016.

However, the consolidated total income of the company increased by 3.6 per cent at Rs 790.44 crore during Q1 2016-17, as compared to Rs 762.9 crore during the same period a year ago.

Commenting on the performance, Dish TV, Chairman & Managing Director, Jawahar Goel said, “Buoyed by digitization, notwithstanding the relative seasonal weakness in 1Q, the industry collectively added around 15 per cent higher subscribers compared to the same quarter last fiscal. Dish TV maintained its lead in incremental subscriber additions during the quarter. Our strengthened distribution in DAS Phase III and IV areas along with the popularity of the Dish TV Insta Care – 4-Hour Service Assurance Campaign were instrumental in helping us maintain an edge over competition. Our regional and mass-market offerings continued to remain crowd-pullers in respective geographies.”

During the quarter under review, it’s ARPU (average revenue per user) stood steady at Rs 174 per month and added 4.02 lakh subscribers.

The company has a total subscriber base of 1.49 crore at the end of the period.

Meanwhile, shares of the company closed at Rs 93.90 apiece, up 0.43 per cent, from previous close on BSE.

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Govt allots Brahmani coal block in Odisha to OMDC

Jul 27 2016 5:18PM

Orissa Minerals Development Company Ltd (OMDC) on Wednesday said that government has allotted Brahmani coal block in Odisha to the company for commercial mining.

In a filing to the Bombay Stock Exchange, the company said, “According to the letter from the Government of India, Ministry of Coal dated July 21, 2016 received on July 25, 2016 which says that the Competent Authority has approved allotment of Brahmani coal block located in the state of Odisha to the Orissa Minerals Development Company Limited for commercial mining.”

Meanwhile, shares of the company closed at Rs 2,337.55 apiece, up 14.11 per cent, from previous close on BSE.


 

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Maruti Suzuki India forays into LCV segment

Jul 27 2016 5:17PM

Country's leading car maker Maruti Suzuki India Ltd (MSIL) on Wednesday said that it will start sales of its first Light Commercial Vehicle (LCV) – ‘Super Carry’ towards the end of August.

Initially, the vehicle will be sold in 3 cities i.e. Ahmedabad, Kolkata and Ludhiana, MSIL said in a filing to the Bombay Stock Exchange on July 27, 2016.

Commenting on the development, Maruti Suzuki, Executive Director (Marketing & Sales), R.S Kalsi said, “Super Carry is designed and developed basis detailed research and understanding of customer requirements. It offers best of both the worlds – power and strength as well as carrying capacity. We are confident Super Carry will enhance the profitability of our customers.”

“Super Carry will be initially available for sale in three cities: Ahmedabad, Kolkata and Ludhiana. It will be retailed through a dedicated ‘Commercial’ sales channel,” he added.

The company said that it has invested about Rs 300 crores towards the development of Super Carry. It will be available in diesel fuel option and comes in two widely preferred colours i.e. Superior White and Silky Silver. Furher, Super Carry is powered by the 793 cc light weight and compact, 2-cylinder diesel engine. With a peak power of 24 KW @ 3500 RPM and max torque of 75 NM @ 2000 RPM Super Carry offers better load carrying capacity and pick up, the company said in a statement.

Meanwhile, shares of the company closed at Rs 4,558.85 apiece, up 1.64 per cent, from previous close on BSE.






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Kashiram Jain & Comp - Board Meeting Intimation for Results & Closure of Trading Window

Jul 25 2016 5:44PM

Kashiram Jain and Company Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, the August 02, 2016 at the Registered Office of the Company, inter alia, to take on record the Un-audited quarterly financial result of the Company for the quarter ended June 30, 2016.

Further, in pursuant to SEBI (Prohibition of Insider Trading) Regulation, 2015 the Trading window for dealing in securities of the Company will be closed from July 25, 2016 to August 04, 2016 (both days inclusive). The Trading window will open 48 hours after the announcement of Un-audited quarterly financial the Companies to the stock exchange.






 

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IDBI Bank plans to raise Rs 28,000 cr via equity, debt

Jul 25 2016 5:43PM

Shareholders of IDBI Bank have given it nod to raise up to Rs 28,000 crore from a mix of equity and bonds, said the PTI report.

At the annual general meeting of the bank held last week they approved an enabling resolution for issue of shares aggregating up to Rs 8,000 crore inclusive of premium amount through various modes including Qualified Institutional Placement (QIP).

Besides, shareholders have also given go-ahead for mobilisation of one or more tranches of up to Rs 20,000 crore, comprising bonds by way of private placement or public issue, IDBI Bank said in a regulatory filing to the stock exchanges.

The government last December gave approval to IDBI Bank for raising Rs 3,771 crore during the year, by way of QIPs -- a move which will dilute its holding by about 26 per cent in the lender. The government's holding in the bank stands at 73.98 per cent as on date.

As per the existing norms, the government equity in a public sector bank cannot go below 52 per cent to maintain the character of state-owned banks.

Finance Minister Arun Jaitley had last year indicated a change in the characteristics of IDBI Bank wherein the government would own a majority stake but, at the same time, keep the bank at arm's length.

Citing the example of Axis Bank, he had wondered if IDBI Bank could follow the same model.

The government indirectly controls 29.19 per cent in Axis Bank through the administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), the Life Insurance Corp and four other public sector general insurance companies.

IDBI Bank came into existence with Parliament passing the IDBI Repeal Act in 2003. In terms of provisions of the Act, IDBI has been functioning as a bank in addition to its earlier role of a financial institution.

The AGM, held on July 22, also gave approval for raising the authorised share capital of the bank from Rs 3,000 crore to Rs 4,500 crore.

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HDFC plans to raise Rs 2,000 cr via NCDs

Jul 22 2016 5:48PM

Mortgage lender HDFC Ltd today said it will issue non-convertible debentures (NCDs) on a private placement basis to raise Rs 2,000 crore.

The secured, redeemable NCDs to be issued on July 27, will carry a coupon rate of 8.15 per cent per annum, HDFC said in a filing to the Bombay Stock Exchange.

"The object of the issue is to augment long-term resources of the corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation," it said.

The Housing Development Finance Corporation (HDFC) said only the persons specifically addressed through a communication are eligible to apply for the debentures and no other person could apply.

Meanwhile, shares of the company closed trading at Rs 1355.65 apiece, up 1.78 per cent from the previous close on BSE.

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Wonderla Holidays to hold board meeting

Jul 20 2016 5:42PM

Wonderla Holidays will hold a meeting of the Board of Directors of the Company on 2 August 2016, to consider and approve unaudited financial results of the Company for the quarter ended 30 June 2016.

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ICICI Prudential Mutual Fund announces 0.01 % Dividend

Jul 27 2016 5:16PM

ICICI Prudential Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “ICICI Prudential Money Market Fund - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was July 24. The latest NAV of the scheme is Rs 100.11. The investment objective of the open ended liquid fund scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made in money market securities. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Aditya Pagaria is the fund manager of the scheme.

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ICICI Prudential Mutual Fund announces 0.01 % Dividend

Jul 27 2016 5:10PM

ICICI Prudential Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “ICICI Prudential Money Market Fund - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was July 24. The latest NAV of the scheme is Rs 100.11. The investment objective of the open ended liquid fund scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made in money market securities. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Aditya Pagaria is the fund manager of the scheme.

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0.80% dividend declared by Kotak Mahindra Mutual fund

Jul 25 2016 5:42PM

Kotak Mahindra Mutual Fund has announced 0..80 per cent dividend under dividend pay-out option of scheme named as "Kotak Balance - Regular Plan ” on the face value of Rs 10 per unit. The record date for the dividend was July 25. The latest NAV of the scheme is Rs 15.67. The investment objective of the open ended scheme is to achieve growth by investing in equity & equity related instruments, balanced with income generation by investing in debt & money market instruments. The performance of the scheme was benchmarked against Crisil Balanced Fund Index. Pankaj Tibrewal is the fund manager of the scheme.

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Mutual fund folio count rises 12.5 lakh to 4.9 cr in June qtr

Jul 25 2016 5:38PM

Driven by equity folios, mutual fund houses saw a surge of more than 12.5 lakh investor accounts in April-June of the current fiscal, taking the total tally to 4.9 crore, reported PTI.

This is on top of an addition of 59 lakh folios in 2015-16 and 22 lakh in 2014-15. In the last two years, investor accounts increased mainly due to robust contribution from smaller towns.

Folios are numbers designated to individual investor accounts though one investor can have multiple folios.

According to data from the Association of Mutual Funds in India (Amfi) on total investor accounts with 43 fund houses, the number of folios rose to 48,924,391 at the end of June quarter from 47,663,024 in March-end, a gain of 12.61 lakh.

Growing participation from retail investors, especially from smaller towns, and huge inflows in equity schemes have helped in lifting the overall folio count, experts said as per the PTI report.

The equity category witnessed an addition of over 6 lakh investor folios at 3.66 crore during the quarter ended June 2016.

Mutual funds have reported a net inflow of Rs 9,479 crore in equity schemes during the period under review.

The net inflow is in line with BSE's benchmark Sensex, rising 6.5 per cent in the first three months (April-June) this financial year.

Mutual funds are investment vehicles made up of a pool of funds collected from a number of investors. The funds are invested in stocks, bonds and money market instruments, among others.

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SBBJ swings to Q1 loss of Rs 221.56 cr

Jul 21 2016 5:35PM

 Public sector lender the State Bank of Bikaner and Jaipur (SBBJ) on Thursday reported a net loss of Rs 221.56 crore for the first quarter ended June 30, 2016 as provisions soared and asset quality deteriorated sharply.

In Q1 FY 2015-16, the state-run lender had posted a net profit of Rs 270.62 crore, the State Bank of Bikaner and Jaipur (SBBJ) said in a filing to the Bombay Stock Exchange (BSE).

Net interest income climbed 6 per cent to Rs 870 crore in Q1 FY 2016-17 from Rs 821 crore in the same period a year ago.

Other income climbed by 28 per cent at Rs 325 crore in Q1 FY 2016-17 from Rs 254 crore in the same period a year ago.

Total income rose 3.3 per cent at Rs 2,772 crore in Q1 FY 2016-17 from Rs 2,683 crore in the same period a year ago.

Provisions (other than tax) and contingencies jumped over four-fold to Rs 995 crore in Q1 FY 2016-17 from Rs 213 crore in the same period a year ago.

The percentage of Gross Non-Performing Assets (NPAs) rose to 6.2 per cent as at June 30, 2016 from 4.45 per cent a year ago while that of Net NPAs climbed to 3.65 per cent from 2.36 per cent, signaling deteriorating asset quality.

Shares of SBBJ tumbled by 2.79 per cent to end at Rs 670.85 a piece at the BSE on Thursday.

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ICICI Prudential Mutual Fund launches New Close Ended Scheme

Jul 21 2016 5:34PM


ICICI Prudential Mutual Fund has launched a new close ended Debt fund scheme named “ICICI Prudential Multiple Yield Fund – Series 11 –Plan A 1427 Days” with maturity period of 1427 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 July 19 and will close on August 02. 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 10 thereafter. The options available under the plan of the scheme are Cumulative and Dividend option. The performance of the scheme will be benchmarked against Crisil Composite Bond Fund index (80 per cent) and Nifty 50 Index (20 per cent). Vinay Sharma,Rahul Goswami ,Chandni Gupta and Shalya Shah 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 income and long term capital appreciation will be met by investing a portion of fixed income securities and debt instruments and equity and equity related instruments the maturity of the Scheme. Hence, the scheme will allocate 65 to 95 per cent of asset in Debt Instruments and 0 to 30 per cent of asset in money market instruments and 5 to 35 per cent of asset in equity and equity instruments.

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L&T Mutual Fund declares 0.90% dividend

Jul 18 2016 5:51PM

 L&T Mutual Fund has announced 0.90 per cent dividend under dividend payout option of scheme named as “L&T India Prudence - Direct Plan” on the face value of Rs 10 per unit. The record date for the dividend was July 18. The latest NAV of the scheme is Rs 19.41. The investment objective of the open ended scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities and to generate reasonable returns through a portfolio of debt and money market instruments. The performance of the scheme was benchmarked against S&P BSE 200. Shriram Ramanathan is the fund manager of the scheme.







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ICICI Prudential Mutual Fund launches New Close Ended Scheme

Jul 18 2016 5:50PM

ICICI Prudential Mutual Fund has launched a new close ended Debt fund scheme named “ICICI Prudential Fixed Maturity Plan - Series 79 - 1113 Days Plan G” with maturity period of 1113 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 July 14 and will close on July 19. 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 10 thereafter. The options available under the plan of the scheme are Cumulative and Dividend option. The performance of the scheme will be benchmarked against Crisil Composite Bond Fund. Rahul Goswami and Rohan Maru 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 income will be met by investing a portion of fixed income securities and debt instruments maturing on or before the maturity of the Scheme. Hence, the scheme will allocate 80 to 100 per cent of asset in Debt Instruments and 0 to 20 per cent of asset in money market instruments.

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Firm physical demand lifts Mentha Oil

Jul 28 2016 5:27PM

Mentha Oil futures were trading higher during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for menthe oil in the domestic spot market.

Further, restricted supplies amid lower physical arrivals from the major menthe oil producing belts in the country also exerted upward pressure on domestic cardamom prices.

At the MCX, Mentha oil futures for July 2016 contract were trading at Rs 931.20 per kg, up by 0.57 per cent after opening at Rs 930.50, against the previous closing price of Rs 925.90. It touched the intra-day high of Rs 940.20

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Silver futures zoom on positive overseas cues

Jul 28 2016 5:26PM

Silver futures were trading higher during the evening trade in the domestic market on Thursday as traders widened their bets tracking a firm trend at global markets. Silver rallied in global markets after the US Fed indicated that it would take a slow, measured approach to any interest rate hikes amid a weak dollar raising demand for the safe-haven, supported the prices of white metal at the futures trade.

At the MCX, silver futures for September 2016 contract is trading at Rs 47,746 per kg, up by 1.55 per cent, after opening at Rs 47,128, against a previous close of Rs 47,019. It touched the intra-day high of Rs 48,089

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Profit Krishna

Improved US, China demand outlook buoys Copper

Jul 28 2016 12:38PM




  Copper futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as the fastest pace of growth in China’s industrial profits in three months in June signaled a pickup in the economic recovery in the world’s biggest metals consumer, bolstering the demand prospects for copper.

China’s industrial profits rose 5.1 per cent, year on year, in June 2016.

Further, US capital goods orders rose in June for the first time in three months, up 0.2 per cent from May, signaling a rebound in the manufacturing sector of the world’s biggest economy, supporting metals.

At the MCX, Copper futures for August 2016 contract is trading at Rs 328.15 per kg, up by 0.63 per cent, after opening at Rs 327.10, against a previous close of Rs 326.10. It touched the intra-day high of Rs 329.45.

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Gold shines post Fed verdict

Jul 28 2016 12:38PM



 The yellow metal was trading higher during late morning trade in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal after the US Federal Reserve left interest rates unchanged while reiterating its intention to tighten borrowing costs gradually even as the US economy shows signs of improvement, bolstering the lure for the bullion as a store of value.

The Fed stressed that the risks to the world’s biggest economy have now subsided with the labour market recovery gaining traction, a sign that conditions to tighten monetary policy are now becoming more favorable.

Gold, a non-interest bearing asset, will benefit from a slow pace of US rate hikes.

At the MCX, gold futures for August 2016 contract is trading at Rs 31,220 per 10 grams, up by 0.76 per cent, after opening at Rs 31,149, against a previous close of Rs 30,986. It touched the intra-day high of Rs 31,239

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Zinc dips on weak global cues

Jul 27 2016 5:09PM

Zinc futures were trading lower during the afternoon trade in the domestic market on Wednesday as investors and speculators cut short their bets in the industrial metal amid decline in physical demand for zinc in the domestic spot market tracking weak cues from global markets.

Further, weakness in base metals pack at the LME as weaker oil prices raised concerns over the health of the global economy, too weighed on zinc prices in futures trade.

At that MCX, zinc futures for July 2016 contract is trading at Rs 148.95 per kg, down by 0.87 per cent, after opening at Rs 149.60, against a previous close of Rs 150.25. It touched the intra-day low of Rs 148.50

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Lead futures drop 1.06% on muted demand

Jul 27 2016 5:08PM

Lead futures were trading lower during the evening trade in the domestic market on Wednesday as investors and speculators trimmed their bets in the industrial metal amid decline in physical demand for lead, from battery-makers, in the domestic spot market. Further, decrease in demand from battery makers in the spot market influenced lead prices at futures trade. At the MCX, Lead futures for July 2016 contract is trading at Rs 121.75 per kg, down by 1.06 per cent, after opening at Rs 122.85, against a previous close of Rs 123.05. It touched the intra-day low of Rs 121.55

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Firm physical demand buoys Zinc

Jul 25 2016 5:37PM

Zinc futures rose during evening trade in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.

However, the gains in the base metal were curbed by worries that a slowdown in Germany, Europe’s biggest economy may restrict demand as a gauge measuring business sentiment in the country fell to 108.3 in July from 108.7 in June.

At the MCX, zinc futures for July 2016 contract is trading at Rs 152.2 per kg, up by 0.73 per cent, after opening at Rs 151.65, against a previous close of Rs 151.10. It touched the intra-day high of Rs 152.50

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Ebbing safe haven lure weighs on Gold

Jul 25 2016 5:36PM

Gold futures fell during evening trade in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking weakness overseas as safe haven appeal for the bullion ebbed amid easing worries over the global economy, prompting investors to move to risky assets.

While manufacturing in the US accelerated in July, central banks in the US and Japan this week may continue to stick to a dovish policy stance with more stimulus expected from the Bank of Japan, curbing a flight to the safety of the bullion.

At the MCX, Gold futures for August 2016 contract were trading at Rs 30,764, per 10 gram, down by 0.35 per cent after opening at Rs 30,782, against the previous closing price of Rs 30,871. It touched the intra-day low of Rs 30,691.

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Post Session-Sensex logs second day of gains on GST optimism, F&O expiry

Jul 28 2016 5:24PM

 Buoyed by hopes of a passage of the long pending Goods and Services Tax (GST) bill in Parliament, Indian equity benchmarks marked a second straight rally on Thursday, the last day of the July derivative contracts.

The 30-share SENSEX ended at 28,208.62, up by 184.29 points or by 0.66 per cent and then NSE Nifty closed at 8,666.3, up by 50.5 points or by 0.59 per cent. The BSE Sensex touched intraday high of 28240.2 and intraday low of 28,064.9 The NSE Nifty touched intraday high of 8,674.7 and intraday low of 8,625.25

The Cabinet on Wednesday cleared changes in the GST Constitutional Amendment bill including scrapping the 1% manufacturing tax and giving full compensation to states for five years for potential revenue losses after the new system is implemented, paving the way for its passage in the ongoing monsoon session of Parliament. Meanwhile, traders rolled over their positions amid the July futures & options (F&O) contracts’ expiry today. The Fed’s decision to keep interest rates unchanged also supported foreign fund inflows to India, a leading emerging market, as risk appetite strengthened.

The top gainers of the BSE Sensex pack were Asian Paints Ltd. (up 6.14 per cent), Maruti Suzuki India Ltd. (up 4.47 per cent), ITC Ltd. (up 2.48 per cent), Sun Pharmaceutical Industries Ltd. (up 1.99 per cent) and Power Grid Corporation of India Ltd. (up 1.71 per cent), among others.

On the Sectoral front, consumer durables and FMCG advanced 2.3 per cent and 1.5 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3024, shares advanced were 1569 while 1213 shares declined and 242 were unchanged.

Asian stocks ended mixed after the Fed reiterated a gradual stance to policy tightening while traders awaited the Bank of Japan’s policy decision on Friday. China’s Shanghai Composite logged mild gains amid the fastest pace of growth in China’s industrial profits in three months in June, Hang Seng fell and Japan’s Nikkei 225 plunged as a stronger yen curbed the lure for 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]