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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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Honeywell Automation and South Indian Bank drop ex-dividend

Jul 7 2015 12:24PM

Honeywell Automation India declined 1.15% to Rs 7,493.90 as the stock turned ex-dividend today, 7 July 2015, for dividend of Rs 12.50 per share for the 15-months ended 31 March 2015. Before turning ex-dividend, the stock offered a dividend yield of 0.16% based on the closing price of Rs 7,581.35 on Monday, 6 July 2015.

South Indian Bank shed 2.14% to Rs 25.15 as the stock turned ex-dividend today, 7 July 2015, for dividend of Rs 0.60 per share for the year ended 31 March 2015. Before turning ex-dividend, the stock offered a dividend yield of 2.33% based on the closing price of Rs 25.70 on Monday, 6 July 2015.

Sundaram Finance rose 0.67% to Rs 1,568.75. The stock turned ex-dividend today, 7 July 2015, for a final dividend of Rs 6 per share for the year ended 31 March 2015. Before turning ex-dividend, the stock offered a dividend yield of 0.38% based on the closing price of Rs 1,558.25 on Monday, 6 July 2015.

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Airline stocks extend gains after slide in crude oil prices

Jul 7 2015 12:24PM

Among airline stocks, Jet Airways (India) (up 6.12% to Rs 328.50) and SpiceJet (up 4.58% to Rs 20.55) gained. Shares of Jet Airways and SpiceJet had surged 11.27% and 3.15% respectively, yesterday, 6 July 2015.

In global commodities markets, Brent crude oil futures edged higher after a sharp slide yesterday, 6 July 2015. Brent for August settlement was currently up 62 cents at $57.16 a barrel. Brent crude oil futures for August delivery had slumped $3.78 a barrel or 6.26% to settle at $56.54 a barrel yesterday, 6 July 2015.

Crude oil prices steadied today, 7 July 2015, after posting one of their biggest selloffs this year the previous session over Greece's rejection of debt bailout terms and China's stock market woes.

Jet fuel or aviation turbine fuel (ATF) typically makes up almost half of an airline's operating cost. Prices of jet fuel are directly linked to crude oil prices.

Meanwhile, PSU OMCs had reduced jet fuel prices on 30 June 2015. PSU OMCs reduced jet fuel prices by Rs 2086.56 per kiloliter or 3.91% to Rs 51267.36 per liter in Delhi, with corresponding price revision in other states. The revised jet fuel prices took effect from 1 July 2015. Jet fuel prices were last revised to Rs 53353.92 per kiloliter in Delhi on 1 June 2015. Jet fuel or aviation turbine fuel (ATF) typically makes up almost half of an airline's operating cost. Prices of jet fuel are directly linked to crude oil prices.

PSU OMCs review jet fuel prices on the last day of the month based on the average imported oil price for the month.

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Welspun Enterprises slips after admission of fresh shares

Jul 7 2015 12:22PM

The small-cap stock hit a high of Rs 53.90, also a 52-week high for the stock. The stock hit a low of Rs 49 so far during the day. The stock hit a 52-week low of Rs 19.05 on 13 October 2014.

A total of 15.77 crore shares of Welspun Enterprises issued pursuant to scheme of amalgamation & arrangement were admitted for trading on the bourses today, 16 June 2015. The company had announced the scheme of amalgamation and arrangement between Welspun Enterprises, Welspun Infratech, Welspun Plastics, Welspun Infra Projects and Welspun Projects and their respective shareholders and creditors.

Welspun Enterprises' net profit rose 10.3% to Rs 14.54 crore on 42.2% rise in total income to Rs 137.97 crore in Q4 March 2015 over Q4 March 2014.

Welspun Enterprises (WEL) is a part of the $3.5 billion Welspun Group. WEL's key business is trading in commodities, majorly into steel & cotton. The company is involved in promoting subsidiaries or joint ventures in the business of buying, selling, exchanging, processing, importing or dealing in manufacture, bullion, commodities, goods, fibers & yarns, fibrous materials or substances, steels, metal products including steel and other goods used in industrial and other commercial activities.

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LIC Nomura MF Announces Appointment of Key Personnel

Jul 2 2015 3:17PM

LIC Nomura Mutual Fund has announced that Nilesh Sathe, Whole Time Director and Chief Executive Officer has resigned and ceases to be the key personnel of LIC Nomura Asset Management Company, with effect from 30 June 2015.

Further, Sarojini S. Dikhale has been appointed as the Whole Time Director and Chief Executive Officer of LIC Nomura Asset Management Company with effect from the same date.

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Volumes jump at Pantaloons Fashion & Retail counter

Jul 2 2015 3:13PM

Pantaloons Fashion & Retail clocked volume of 84.08 lakh shares by 14:50 IST on BSE, a 656.22 times surge over two-week average daily volume of 13,000 shares. The stock rose 1.17% at Rs 181.80. Equity of 8.75% changed hands in a bulk deal on BSE today, 2 July 2015.

La Opala RG notched up volume of 3.50 lakh shares, a 65.63-fold surge over two-week average daily volume of 5,000 shares. The stock surged 8.87% at Rs 369.

Great Eastern Shipping saw volume of 1.75 lakh shares, a 22.41-fold surge over two-week average daily volume of 8,000 shares. The stock fell 0.03% at Rs 341.

CESC clocked volume of 2.66 lakh shares, a 10.22-fold surge over two-week average daily volume of 26,000 shares. The stock dropped 0.72% at Rs 558.

Techno Electric & Engineering Company saw volume of 2.54 lakh shares, a 8.19-fold rise over two-week average daily volume of 31,000 shares. The stock declined 2.52% at Rs 496.50.

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Ramco Systems scales record high after securing order from Australian coffee maker

Jul 2 2015 3:11PM

The stock hit a high of Rs 936.75 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 781.25 so far during the day. The stock hit a 52-week low of Rs 213 on 14 July 2014.

The stock had outperformed the market over the past one month till 1 July 2015, rising 15.97% compared with 0.62% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 19.84% as against Sensex's 0.85% decline.

The small-cap company has an equity capital of Rs 29.65 crore. Face value per share is Rs 10.

Ramco Systems said that the manufacturer and coffee supplier of – The House of Robert Timms, Bushells Coffee, Café-Bar and Picco brands - FreshFood Management Services (FreshFood) has signed a pact with the company to replace its legacy system with a mobile-based postmodern ERP. Ramco's partner, Megasoft played a vital role in this engagement, the company said.

Australia's foremost coffee pioneer, FreshFood will be implementing a comprehensive ERP suite including Finance, Supply Chain, Production, Maintenance, Sales and Shipping, and CRM. In addition, FreshFood also plans to implement Equipment Rental Management software from Ramco to manage and keep track of large number of coffee machines – rented/leased to business partners, the company said.

Ramco's end-to-end solution will streamline FreshFood's business functions, and will enable a seamless flow of information, provide much needed process integration, resulting in improved speed of business, it added.

Ramco ERP on Cloud as a post-modern and single integrated ERP platform has been delivering significant innovation, cost savings, and superior business processes to organizations, globally. Ramco's focus on innovations in usability, context-awareness, mobility, overall flexibility, apart from comprehensive set of functionality has enabled smooth transitions possible for customers.

On a consolidated basis, Ramco Systems' net profit rose 935.7% to Rs 4.35 crore on 34.4% growth in total income to Rs 101.94 crore in Q4 March 2015 over Q4 March 2014.

Ramco Systems is a rapidly growing cloud enterprise software company focused on providing multi-tenanted enterprise software to corporates in the area of HCM, ERP and M&E MRO with Mobile first philosophy and In-memory based Planning and Optimization engine.

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Gokaldas Exports slips on profit booking

Jul 2 2015 3:11PM

The stock hit a high of Rs 69 and a low of Rs 62.60 so far during the day. The stock had hit a 52-week high of Rs 96.95 on 3 July 2014. The stock had hit a 52-week low of Rs 40.25 on 26 March 2015.

The stock had outperformed the market over the past one month till 1 July 2015, rising 20.02% compared with 0.62% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 50.06% as against Sensex's 0.85% decline.

The small-cap company has equity capital of Rs 17.30 crore. Face value per share is Rs 5.

Shares of Gokaldas Exports had rallied 21.91% in two trading sessions to settle at Rs 65.65 yesterday, 1 July 2015, from a recent low of Rs 53.85 on 29 June 2015.

Gokaldas Exports' net profit jumped 447.8% to Rs 34.84 crore on 22.6% fall in net sales to Rs 237.42 crore in Q4 March 2015 over Q4 March 2014.

Gokaldas Exports manufactures and exports readymade garments.

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Agri stocks gain after Cabinet okays Pradhan Mantri Krishi Sinchai Yojana

Jul 2 2015 3:10PM

Among agri linked stocks, Jain Irrigation (up 2.59%), Shakti Pumps (up 2.52%), Finolex Industries (up 7.67%), Mahindra & Mahindra (M&M) (up 1.76%), Dhanuka Agritech (up 1.47%), Monsanta India (up 1.23%), Kaveri Seed Company (up 0.06%) and Advanta (up 5.15%) gained.

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi today, 2 July 2015, has given its approval to a new scheme the “Pradhan Mantri Krishi Sinchayee Yojana” (PMKSY). It will have an outlay of Rs 50000 crore over a period of five years (2015-16 to 2019-20). The allocation for the current financial year is Rs 5300 crore.

The major objective of the PMKSY is to achieve convergence of investments in irrigation at the field level, expand cultivable area under assured irrigation (Har Khet ko pani), improve on-farm water use efficiency to reduce wastage of water, enhance the adoption of precision-irrigation and other water saving technologies (More crop per drop), enhance recharge of aquifers and introduce sustainable water conservation practices by exploring the feasibility of reusing treated municipal based water for peri-urban agriculture and attract greater private investment in precision irrigation system. The scheme also aims at bringing concerned Ministries/Departments/Agencies/Research and Financial Institutions engaged in creation/use/recycling/potential recycling of water, brought under a common platform, so that a comprehensive and holistic view of the entire "water cycle" is taken into account and proper water budgeting is done for all sectors namely, household, agriculture and industries.

The programme architecture of PMKSY aims at a 'decentralized State level planning and execution' structure, in order to allow States to draw up a District Irrigation Plan (DIP) and a State Irrigation Plan (SIP). DIP will have holistic developmental perspective of the district outlining medium to long term developmental plans integrating three components namely, water sources, distribution network and water use application of the district to be prepared at two levels - the block and the district. All structures created under the schemes will be geotagged.

It is expected that PMKSY will provide convergence to existing schemes of water management, thus bringing efficiency to the use of water.

Taking a step further after taking many farmer friendly initiatives, Cabinet Committee on Economic Affairs, chaired by the Prime Minister today, 2 July 2015, has given its approval to two new schemes in agriculture sector. These are the PMKSY and Promotion of National Agriculture Market.

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Zensar Technologies to hold board meeting

Jul 7 2015 12:28PM

Zensar Technologies will hold a meeting of the Board of Directors of the Company on 15 July 2015, to consider and approve the Unaudited Financial Results for the Quarter ended 30 June 2015.

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TCI Finance - Fixes Book Closure for AGM (e-voting)

Jul 3 2015 2:17PM

 TCI Finance Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 21, 2015 to July 28, 2015 (both days inclusive) for the purpose of 41st Annual General Meeting (AGM) of the Company to be held on July 28, 2015.

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Eicher Motors announces monthly sales figure for subsidiary in June 2015

Jul 1 2015 2:39PM

Eicher Motors has announced the sales figures of VE Commercial Vehicles, a subsidiary of the Company for the month of June 2015.

Accordingly, total sales stood at 4163 units in June 2015 as compared to 4242 units in June 2014. Exports stood at 526 in June 2015 compared to 713 in June 2014.

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Atul Auto announces monthly sales figure for June 2015

Jul 1 2015 2:38PM

Atul Auto announced the sales performance of the Company for the month of June 2015. Total sales for the month stood at 3330 vehicles compared to 3222 vehicles in June 2014, registering a growth of 3.35%. Total sales for April-June 2015, stood at 8838 vehicles compared to 8433 vehicles in the corresponding period of previous year, recording growth of 4.80%.

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Richway International Trade to hold board meeting

Jun 30 2015 1:12PM

Richway International Trade will hold a meeting of the Board of Directors of the Company on 7 July 2015, to consider the resignation of Sachin Shah from the post of Company Secretary and Compliance Officer of the Company.

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Nihar Info Global operationalises News Roundup Mobile App

Jun 30 2015 1:11PM

Nihar Info Global announced that the Company has operationalised News Roundup Mobile App. The News Roundup Mobile Application is news based content aggregator application.

Using this Mobile App, user can view the e-paper of all leading dailies in their Mobile Device in three languages English, Hindi & Telugu.

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Cholamandalam Investment & Finance Company ties up with Ola

Jun 30 2015 1:11PM

Cholamandalam Investment & Finance Company announced their association with Ola, India's leading mobile app for personal transportation to offer car loans to drivers on Ola's platform, with an option of daily repayment schedule as against the current practice of an EMI.

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Suven Life Sciences secures three product patents

Jun 30 2015 1:10PM

Suven Life Sciences announced the grant of one (1) product patent from Israel (218525), one product patent from Japan (5714729) and one (1) product patent from South Africa (2013/09100) corresponding to their New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Parkinson and Schizophrenia.

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PPFAS MF Announces Change In Directorship

Jul 7 2015 12:29PM

PPFAS Mutual Fund has announced that Rajnikant Rao, Director has resigned from the board and ceases to be a Director of PPFAS Trustee Company, with effect from 06 July 2015.

Further, Rajesh Bhojani is appointed as a Director of the AMC, with effect from the same.

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0.03% Div announced by IDFC Mutual Fund

Jul 3 2015 2:15PM

IDFC Mutual Fund has announced 0.03 per cent dividend under dividend payout option of scheme named as “IDFC Ultra Short Term Fund” on the face value of Rs 10 per unit. The record date for the dividend was June 29. The latest NAV of the scheme is Rs 10.02. The investment objective of the open ended debt short term scheme is to offer an investment avenue for short term savings by looking to generate stable returns with low risk strategy by investing in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of return. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Anupam Joshi is the fund manager of the scheme.

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ICICI Prudential Mutual Fund launches New Close Ended Scheme

Jul 3 2015 2:15PM

ICICI Prudential Mutual Fund has launched a new close ended debt fund scheme named “ICICI Prudential Fixed Maturity Plan - Series 77 - 1100 Days Plan M” 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 July 03 and will close on July 09. 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 Short Term Bond Fund Index. 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 in a portfolio of fixed income securities/ debt instruments maturing on or before the maturity of the Scheme. Hence, the scheme will allocate 70 to 100 per cent of asset in Debt Instruments including Government Securities and 0 to 30 per cent of asset in Money Market Instruments.

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HDFC FMP 371D June 2014 (3) Announces Dividend

Jul 2 2015 3:16PM

HDFC Mutual Fund has announced 07 July 2015 as the record date for declaration of dividend on the face value of Rs 10 per unit under regular option – normal dividend option, direct option- normal dividend option, regular option-quarterly dividend option and direct option-quarterly dividend option of HDFC FMP 371D June 2014 (3). The amount of dividend will be distributable surplus, as reduced by applicable statutory levy.

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Birla Sun Life Fixed Term Plan – Series MU (1117 days) Floats On

Jul 2 2015 3:14PM

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Fixed Term Plan – Series MU (1117 days), a close ended income scheme. The tenure of the scheme is 1117 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 02 July and close on 16 July 2015.

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

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

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

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry and exit load charge will be nil.

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

The fund manager of the scheme will be Kaustubh Gupta.

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Edelweiss MF Announces Change In Fundamental Attributes of Edelweiss Select Midcap Fund

Jul 1 2015 2:22PM

Edelweiss Mutual Fund has announced the change in fundamental attributes of Edelweiss Select Midcap Fund, with effect from 05 August 2015.

The proposed changes are:

Name of the scheme: Edelweiss Emerging Leaders Fund.

Investment objective: The primary objective of the scheme is to generate income and capital appreciation from a diversified portfolio predominantly comprising of equity and equity related securities of Mid & Small Cap Companies.

Asset Allocation:

The scheme will invest 80%-100% of assets in equity and equity related securities of Mid & Small Cap Companies with high risk profile, invest upto 20% of assets in equity & equity related securities of other companies with medium to high risk profile and invest upto 20% of assets in debt and money market instruments with low to medium risk profile.

Existing investors have an option to exit without payment of exit load between 06 July 2015 and 04 August 2015.

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UTI Fixed Term Income Fund – Series XXII – X (1098 Days) Floats On

Jul 1 2015 2:20PM

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXII – X (1098 Days), a close ended income scheme. The duration of the scheme is 1098 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 01 July to 02 July 2015.

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

The scheme offers growth option, quarterly dividend option with payout and reinvestment facility, flexi dividend option with payout and reinvestment facility, annual dividend option with payout and reinvestment facility and maturity dividend option with payout facility.

The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets would be allocated to money market instruments with low risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry and exit load charge will be nil for the scheme.

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

Sunil Patil is the fund manager for the scheme

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0.01% Div announced by ICICI Prudential Mutual Fund

Jul 1 2015 2:19PM

 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 is June 28. 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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Silver Bears rule amid stronger dollar

Jul 7 2015 5:54PM

  Silver futures fell in the domestic market on Tuesday as investors and speculators exited positions in the precious metal as a stronger dollar cut the demand for Silver as an alternative asset. Stronger greenback makes the bullion more expensive for those holding other currencies, thus dimming demand for the precious metal.

The dollar extended a rally against a basket of key currencies on Tuesday as fears over a Grexit heightened after German Chancellor Angela Merkel warned that time is running out for Greece to reach a plan to remain a part of the euro while the European Central Bank (ECB) tightened liquidity norms for the cash-strapped Greek banking and financial system, boosting safe haven demand for the US currency.

At the MCX, Silver futures for September 2015 contract are trading at Rs 35,991 per 1 kg, down by 0.53 per cent after opening at Rs 36,002, against the previous closing price of Rs 36,181. It touched the intra-day low of Rs 35,994

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Bullish stockpiles data lifts Zinc futures

Jul 3 2015 5:41PM

 Zinc futures rose by 0.12 per cent to Rs 128.75 per kg today due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity.

LME zinc stocks fell by 1325 metric tonnes to 463400 metric tonnes as on July 3, 2015.

Zinc futures for July 2015 contract, at MCX, were trading at Rs 128.75 per kg, up by 0.12 per cent after opening at Rs. 128.90 against the previous closing price of Rs. 128.60. It touched the intra-day high of Rs. 129.25 till the trading. (At 3.45 PM today). Sentiment improved further in the midst of a firm trend at the spot market on rising industrial demand but metal's weakness at the London Metal Exchange (LME) restricted gains.

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 rises on strong US data, declining stocks

Jul 3 2015 5:40PM

 Copper prices rose by 0.24 per cent on Friday at the domestic market after the rate of unemployment in the US last month fell more-than-expected signaling improving labour market in US, world’s largest economy which bolstered the demand outlook for the industrial metal.

In a report, the US Department of Labor said the unemployment rate fell to a seasonally adjusted 5.3 per cent, from 5.5 per cent in the preceding month.

At the MCX, copper futures for July 2015 contract were trading at Rs. 373.25 per 1 kg, up by 0.24 per cent, after opening at Rs. 372.35 against the previous closing price of Rs. 372.35. It touched the intra-day high of Rs. 374.60 till the trading. (At 4.25 PM today).

Sentiment improved further 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 100 metric tonnes to 321975 metric tonnes as on July 3, 2015.

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Nickel in reverse gear on China slowdown woes

Jul 3 2015 2:12PM

  Nickel futures retreated in the domestic market on Friday as investors and speculators exited positions in the industrial metal after private sector output in China, the world’s biggest metals consumer, expanded at a weaker pace in June, signaling no end to the slowdown in the country’s economy, darkening the demand outlook for Nickel.

A combined gauge measuring China’s manufacturing and services fell to 50.6 in June from 51.2 in May, with a reading above 50 signaling expansion, HSBC and Markit Economics said.

Further, the country’s services PMI fell to the lowest level in five months at 51.8 in June from 53.5 in May.

At the MCX, Nickel futures for July 2015 contract is trading at Rs 768.30 per 1 kg, down by 0.88 per cent after opening at Rs 772.10, against the previous closing price of Rs 775.10. It touched the intra-day low of Rs 772.10 till the closing.

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Mild weather forecasts weigh on Natural Gas

Jul 3 2015 2:02PM

  After a spike in prices on Thursday, Natural Gas prices were flat during noon trade in the domestic market on Friday as traders refrained from further risky bets in the energy commodity as predictions of cooler than normal weather across parts of the US in the coming days threatened to curb demand for the weather-sensitive fuel.

Natural gas is used for cooling purposes by about 49 per cent of American households.

However, a modest inventory built last week in the US offered support as the EIA on Thursday reported that gas supplies climbed by 69 billion cubic feet in the week ended June 26, 2015, compared to a five-year average gain of 75 billion cubic feet, and 102 billion cubic feet reported in the same period a year ago.

At the MCX, Natural Gas futures for July 2015 contract is trading at Rs 181.20 per 1 kg, unchanged after opening at Rs 180.90, against the previous closing price of Rs 181.20.

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Castorseed rises on surge in buying activity

Jul 2 2015 3:19PM

Castorseed prices rose by 0.42 per cent on Thursday 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 July 2015 contract were trading at Rs. 4,031 per quintal tonnes, up by 0.42 per cent, after opening at Rs. 4,010 against the previous closing price of Rs. 4,014. It touched the intra-day high of Rs. 4,035 till the trading. (At 12.35 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 booking drags down Mentha oil futures

Jul 2 2015 3:19PM

Mentha oil prices fell by 0.43 per cent on Thursday at the Multi Commodity Exchange (MCX) as a result of the increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh.

At MCX, Mentha oil futures for July 2015 contract, at MCX, were trading at Rs. 1053 per kg, down by 0.43 per cent after opening at Rs. 1051.10 against the previous closing price of Rs. 1057.60. It touched the intra-day low of Rs. 1041.50 till the trading. (At 2.43 PM today).

Sentiment weakened further as the investors indulged in profit-booking in the midst of a fall in demand in the spot market.

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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RINL to expand its capacity to 16 MT by 2025

Jul 1 2015 2:17PM

Corporate entity of Vizag Steel, Rashtriya Ispat Nigam Limited (RINL) has said that it is planning to expand its capacity to 16 million tonnes per annum (mtpa) by 2025 with an investment of Rs 35,000 crore, PTI reported.

Commenting on the issue, RINL CMD P Madhusudan told the media, "By 2025, RINL has corporate target to achieve 16 mtpa. The current 6.3 mtpa will become 7.3 mtpa through modernisation by 2018. After that, in two phases, we want to grow up to 16 mtpa."

"Each million tonne would cost about Rs 4,000 crore. Another 9 mt to be taken in two phases would cost about Rs 35,000 crore," he added.

As per media reports, the company had earlier said that it had fixed the target of 5 mt of hot metal, 4.9 mt of liquid steel and 4.3 mt of saleable steel production and turnover of around Rs 18,000 crore.

The company is also planning to tie-up with Power Grid for making Transmission Line towers.

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Post Session: Indian stocks end lower ahead of Euro Zone meet

Jul 7 2015 5:53PM

Snapping two days gaining streak, the Indian equities ended lower on Tuesday, paring early gains, as investors booked some profit ahead of emergency Euro Zone meeting. The negativity in the market was injected was weak Asian cues which turned cautious, awaiting the outcome of Eurozone leaders meet on Greece bailout which is scheduled late on Tuesday.

The BSE SENSEX closed at 28171.69, down by 37.07 points or by 0.13 per cent, while the NSE Nifty ended 11.35 points lower at 8522.15.

Today, the D-Street belled the day on positive note amid sustained across-the-board buying by traders and fall in crude prices, led by gains in the oil and gas, realty and consumer durables stocks. However, the market pared early gains and slipped into losses in the last hour of trade amid profit booking.

Bucking the trend, the broader market ended higher with the BSE MIDCAP closing at 11019.99, up by 57.22 points or by 0.52 per cent, while the BSE SMLCAP settled at 11498.32, up by 71.33 points or by 0.62 per cent.

Coming out of Greece shadow, investors will shift their focus to the corporate earnings season which begins on Thursday with TCS, the country’s biggest software services exporter set to unveil its June quarter report card. Analysts have forecasted that April-June 2015 may have been yet another disappointing quarter for India Inc. with earnings growth likely to have remained lackluster without a meaningful pickup in corporate investment, prompting a cautious approach by investors at Dalal Street.

During the day’s trade, the BSE Sensex touched intraday high of 28335.23 and intraday low of 28084.36, while the NSE Nifty touched intraday high of 8561.35 and intraday low of 8483.85.

Leading the rally in the BSE Sensex pack were Coal India Ltd. (Rs. 428.60,+2.06%), Housing Development Finance Corporation Ltd. (Rs. 1337.35,+1.47%), State Bank of India (Rs. 272.70,+0.66%), Wipro Ltd. (Rs. 553.45,+0.66%), Sun Pharmaceutical Industries Ltd. (Rs. 884.45,+0.63%), among others.

Meanwhile, Vedanta Ltd. (Rs. 158.55,-2.76%), NTPC Ltd. (Rs. 134.35,-2.61%), Hero MotoCorp Ltd. (Rs. 2562.50,-1.91%), Hindalco Industries Ltd. (Rs. 107.25,-1.65%), Reliance Industries Ltd. (Rs. 1003.40,-1.17%), were among top losers on BSE.

On the sectoral front, Teck and IT indices emerged as top losers, erasing 0.48 per cent and 0.38 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2897, shares advanced were 1663 while 1125 shares declined and 109 were unchanged.

On the global front, Asian peers ended on negative note, barring Japan’s Nikkei 225, as traders turned cautious and closely watched the EU’s next move after Greece out -rightly rejected demands for more spending cuts and tax hikes tied to fresh rescue aid. China’s Shanghai Composite resumed a sell-off Tuesday, while Japan’s Nikkei 255 rebounded strongly from Monday’s sell-off.

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LME Inventory

Oct 21 2014 1:52PM

       COPPER: -100

       ZINC: -1650

       LEAD: 0

       NICKLE: +630

       ALUMINIUM: -1015

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]