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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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HDIL surges as promoters revoke pledged shares

Sep 30 2014 4:26PM

The stock hit a high of Rs 86.45 and a low of Rs 83.90 so far during the day. The stock had hit a 52-week high of Rs 113.85 on 9 June 2014. The stock had hit a 52-week low of Rs 35.70 on 30 September 2013.

The stock had underperformed the market over the past one month till 29 September 2014, sliding 9.18% compared with Sensex's 0.15% fall. The scrip had also underperformed the market in past one quarter, declining 15.27% as against Sensex's 5.96% rise.

The mid-cap company has equity capital of Rs 419 crore. Face value per share is Rs 10.

Housing Development & Infrastructure (HDIL)'s promoters have revoked all shares pledged with IL&FS Trust Company. IL&FS Trust has released over 7.54 crore equity shares of promoters, including those of Rakesh Kumar Wadhawan. The released shares in the latest tranche comprise 51.89% of the total shares pledged by promoter group.

IL&FS Trust had earlier released 7 crore equity shares, comprising 48.11% of the total pledged shares of promoter group.

With the latest release of pledged shares by IL&FS Trust, the total number of pledged shares by HDIL promoters now stands nil, the company said.

HDIL's net profit jumped 148.6% to Rs 60.06 crore on 124.2% growth in net sales to Rs 237.81 crore in Q1 June 2014 over Q1 June 2013.

HDIL is engaged in real estate development business.

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Volumes jump at Gammon Infrastructure Projects counter

Sep 30 2014 4:24PM

Gammon Infrastructure Projects clocked volume of 1.02 crore shares by 13:49 IST on BSE, a 61.51-times surge over two-week average daily volume of 1.67 lakh shares. The stock was locked at 10% upper circuit at Rs 14.19.

Hexaware Technologies notched up volume of 2.80 crore shares, a 51.97-fold surge over two-week average daily volume of 5.41 lakh shares. The stock surged 4.06% at Rs 204.

Wim Plast saw volume of 1.10 lakh shares, a 35.97-fold surge over two-week average daily volume of 3,000 shares. The stock jumped 13.92% at Rs 1,370.

HOV Services clocked volume of 4.54 lakh shares, a 10.87-fold surge over two-week average daily volume of 42,000 shares. The stock surged 7.33% at Rs 129.55.

Hitachi Home and Life Solutions (India) saw volume of 3.01 lakh shares, a 4.3-fold rise over two-week average daily volume of 70,000 shares. The stock jumped 14.31% at Rs 682.70.

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HOV Services hits 52-week high

Sep 30 2014 4:23PM

The stock surged on high volumes. On BSE, so far 5.16 lakh shares were traded in the counter as against average daily volume of 52,319 shares in the past one quarter.

The stock hit a high of Rs 138 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 117.55 so far during the day. The stock had hit a 52-week low of Rs 25.65 on 30 September 2013.

The stock had outperformed the market over the past one month till 29 September 2014, surging 23.35% compared with Sensex's 0.15% fall. The scrip had also outperformed the market in past one quarter, jumping 49.29% as against Sensex's 5.96% rise.

The small-cap company has equity capital of Rs 12.50 crore. Face value per share is Rs 10.

Shares of HOV Services have rallied 25.84% in two trading sessions from Rs 100.60 on 26 September 2014, after the company during market hours on Monday, 29 September 2014 said that the SourceHOV Holdings, Inc, in which HOV Services through its wholly owned subsidiary HOVS, LLC holds a minority investment entered into an agreement with BancTec Group LLC. The stock had rallied by the maximum permissible level of 20% to settle at Rs 120.70 on Monday, 29 September 2014.

Both SourceHOVE and BancTec are headquartered in Dallas, Texas. In the transaction, stockholders of BancTec will receive stock in SourceHOV, and SourceHOV will use a new credit facility to refinance existing indebtedness, redeem certain existing SourceHOV equity holders and provide additional working capital.

Closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to occur this year, HOV Services said in a statement.

HOV Services reported a net loss of Rs 0.08 crore in the quarter ended 30 June 2014, lower than net loss of Rs 0.18 crore in the quarter ended 31 March 2014. Net sales rose 0.61% to Rs 3.27 crore in the quarter ended 30 June 2014 over the quarter ended 31 March 2014.

HOV Services, operates as a hybrid between investment and diversified services corporation. The company has grown over the last decade through series of key acquisitions in target industries leveraging the global footprint and now has presence in the US, Canada, India, China, Mexico and the Philippines.

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Valecha Engineering surges after board's nod for sale of three road assets

Sep 29 2014 4:31PM

Valecha Engineering said that its board of directors at a meeting held on 27 September 2014, approved the sale of three build, operate and transfer basis road assets located in Madhya Pradesh and Gujarat to New Generation Infrastructure, Inc., a subsidiary of New Generation Holdings, Inc (purchaser) for an aggregate consideration for approximately Rs 309 crore. The purchaser's group is a global diversified infrastructure and energy developer with a diversified resource type in solar, hydro, wind, and thermal, Valecha Engineering said.

As a part of the proposed transaction, Valecha Infrastructure, a wholly owned subsidiary of the company has signed agreements with the purchaser and agreed to sell its shareholding in Valecha LM Toll and Valecha Badwani Sendhwa Tollways to the purchaser subject to receipt of regulatory and other third party approvals and consents including satisfaction of certain condition precedents by the parties. The company has also entered into a separate agreement with the purchaser and agreed to sell its shareholding in Valecha Infrastructure to the purchaser upon completion of the above transaction and receipt of regulatory and third party consents and approvals including satisfaction of certain condition precedents by the parties, Valecha Engineering said.

Valecha Engineering reported a net loss of Rs 0.43 crore in Q1 June 2014 as against net profit of Rs 3.47 crore in Q1 June 2013. Net sales declined 3.3% to Rs 149.19 crore in Q1 June 2014 over Q1 June 2013.

Valecha Engineering is engaged in the construction of major infrastructure & engineering projects such as roads, highways & expressways, bridges & tunnels, airports, irrigation dams, reservoirs & canals, railways foundation & piling works.

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Mangalore Chemicals & Fertilizers hits record high

Sep 29 2014 4:29PM

The stock hit a high of Rs 96.40 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 91.90 so far during the day. The stock had hit a 52-week low of Rs 48.25 on 5 November 2013.

The stock had outperformed the market over the past one month till 26 September 2014, surging 27.4% compared with Sensex's 0.69% rise. The scrip had also outperformed the market in past one quarter, jumping 20.36 % as against Sensex's 6.24% rise.

The small-cap company has equity capital of Rs 118.52 crore. Face value per share is Rs 10.

Shares of Mangalore Chemicals & Fertilizers (MCFL) have rallied 29.4% in two trading sessions from a recent low of Rs 73.45 on 25 September 20, after the company after market hours on 25 September 2014 said that Deepak Fertilisers and Petrochemicals Corporation (DFPCL) has increased its open-offer price to acquire additional stake in the firm The stock had surged by the maximum level of 20% to settle at Rs 88.10.

DFPCL has offered to acquire up to 3.08 crore equity shares, or 26% stake, from the public shareholders of MCFL at Rs 93.60 per shares, an upward revision in open offer price from Rs 63 per share offered earlier. The move comes amid a two-way battle for control between DFPCL on one side and UB group-Zuari Fertilizers and Chemicals combination on the other.

Following the revision in open offer price announced by DFPCL, Zuari chief Saroj Poddar and MCFL promoter Vijay Mallya also revised their open offer to acquire up to 26% stake from MCFL shareholders to Rs 81.60 per share from Rs 68.55 per share offered earlier, in a bid to ward off DFPCL's move. The announcement was made after market hours on 25 September 2014.

Meanwhile, the committee of independent directors (IDC) of MCFL in its recommendation said that the earlier prices offered by SCM Soilfert along with person acting in concert (PAC) in the open offer at Rs 63 per equity share and Zuari Fertilisers and Chemicals along with PACs in the competing offer at Rs 68.55 per equity share are in line with the provisions of the Sebi (substantial acquisition of shares and takeovers) Regulations, 2011 and to that extent, fair and reasonable.

The IDC said that shareholders should independently evaluate the open offer and competing offer, as revised, and take an informed decision in the matter.

Mangalore Chemicals & Fertilizers reported a net loss of Rs 9.76 crore in Q1 June 2014 as against net loss of Rs 12.04 crore in Q1 June 2013. Net sales declined 29% to Rs 430.99 crore in Q1 June 2014 over Q1 June 2013.

Mangalore Chemicals & Fertilizers is a fertilizers manufacturing company. The company with its wide range of products, that include urea, di-ammonium phosphate, muriate of potash, granulated fertilizers, micronutrients, soil conditioners and specialty fertilizers, serves farmers across Southern India.

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Force Motors drops on profit booking

Sep 24 2014 1:31PM

The stock hit a high of Rs 1,317.50 and a low of Rs 1,170 so far during the day. The stock hit a record high of Rs 1,350 on 23 September 2014. The stock hit a 52-week low of Rs 272.05 on 27 November 2013.

The stock had outperformed the market over the past one month till 23 September 2014, rising 59.29% compared with 1.35% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 142.29% as against Sensex's 6.97% rise.

The small-cap company has an equity capital of Rs 13.18 crore. Face value per share is Rs 10.

Shares of Force Motors were on a roll recently, surging 37.97% in five trading days to Rs 1,281.35 on 23 September 2014 from a recent low of Rs 928.70 on 16 September 2014.

Force Motors reported 35.9% rise in net profit to Rs 19.40 crore on 9.1% rise in total income to Rs 557 crore in Q1 June 2014 over Q1 June 2013.

Force Motors is engaged in the manufacture of LCVs, SCVs, utility vehicles, agricultural tractors and other products related to automobile industry such as diesel engines.

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Sanofi India jumps over 16% in two sessions

Sep 24 2014 1:28PM

The stock hit a high of Rs 3,489.85 and a low of Rs 3,338 so far during the day. The stock hit a record high of Rs 3,540 on 3 June 2014. The stock hit a 52-week low of Rs 2,312.05 on 28 October 2013.

Shares of Sanofi India surged 11.35% to Rs 3,325.50 on Tuesday, 23 September 2014. The stock has risen 16.18% in two session from Rs 2,986.65 on Monday, 22 September 2014.

The stock had outperformed the market over the past one month till 23 September 2014, rising 8.03% compared with 1.35% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 5.08% as against Sensex's 6.97% rise.

The mid-cap company has an equity capital of Rs 23.03 crore. Face value per share is Rs 10.

It may be recalled that the National Pharmaceutical Pricing Authority (NPPA) had capped prices of 108 cardiac and diabetes drugs on 10 July 2014. Sanofi India was affected the most by this decision.

On Tuesday, 23 September 2014, Department of Pharmaceuticals, under the Ministry of Chemicals and Fertilizers, scrapped guidelines issued on 29 May 2014 that gave NPPA the powers to fix the prices of drugs that are not on the essential medicines list.

According to media reports, Sanofi India will have the biggest positive impact with around Rs 139 crore gains in sales.

Sanofi India's net profit rose 12.3% to Rs 57.50 crore on 18.7% growth in net sales to Rs 486.70 crore in Q2 June 2014 over Q2 June 2013.

Sanofi, an integrated global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients' needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme.

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IFCI jumps on buzz of stake divestment in NSE

Sep 18 2014 5:08PM

The stock hit a high of Rs 34.50 and a low of Rs 32.30 so far during the day.

IFCI's CEO & MD Malay Mukherjee was also quoted as saying that he expects the stake-sale in NSE to be over by 30 September 2014. He further reportedly said that government might hike its stake in IFCI via the preferential share route.

IFCI's net profit jumped 71.42% to Rs 94.47 crore on 31.16% growth in total income to Rs 736.55 crore in Q1 June 2014 over Q1 June 2013.

IFCI's activities include project financing, infrastructure development, debt and equity underwriting & syndication, venture capital, stock broking & merchant banking, factoring, asset reconstruction, tourism finance, corporate and infrastructure advisory, technical consultancy and management education.

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Foods & Inns announces resignation of director

Sep 30 2014 4:27PM

Foods & Inns announced that George Gonzor, Director of the Company who's term was to expire at the conclusion of the AGM held on 22 September 2014, had opted not to get himself reappointed at the said AGM. In view of this George Gonzor is retired from the Board of Directors of the Company at the conclusion of the said AGM.

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Automotive Stampings & Assemblies to hold board meeting

Sep 29 2014 4:35PM

Automotive Stampings & Assemblies will hold a meeting of the Board of Directors of the Company on 20 October 2014, to consider and approve the un-audited financial results of the Company for the quarter ended 30 September 2014.

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Kanel Industries to hold board meeting

Sep 29 2014 4:33PM

Kanel Industries will hold a meeting of the Board of Directors of the Company on 29 September 2014, to appoint the Auditors and to fix their remuneration for the next financial years i.e. 2014-15, to appoint Secretarial Auditor, to re-appoint Dhiren K Thakkar as Managing Director of the Company, and other matters.

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Datamatics Global Services to hold board meeting

Sep 10 2014 12:50PM

Datamatics Global Services will hold a meeting of the Board of Directors of the Company on 23 September 2014, to consider the declaration of interim dividend for the year 2014-2015, if any.

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HCL Infosystems appoints Executive Vice-Chairman

Sep 10 2014 12:49PM

HCL Infosystems announced that Premkumar Seshadri has been appointed as Executive Vice-Chairman of the Company, with immediate effect. Premkumar has been serving as a non-executive director on the HCL Infosystems Board since 21 March 2014.

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BS allots equity shares

Sep 10 2014 12:47PM

BS announced that, on 09 September 2014, the Company has allotted 80,080 Equity Shares (i.e., 40,040 Equity Shares + 40,040 Bonus Equity Shares) of Re. 1/- each to the grantees' upon exercise of 4,004 Options @ Rs. 109.95 per Share of Rs. 10/- each under the Employees Stock Option Plan 2011 ("ESOP 2011") of the Company. The said shares shall rank pari-passu with the existing Equity Shares of the Company in all respects.

The Company, pursuant to the approval of the Shareholders dated 10 January 2014 has sub divided the Face Value of the Shares of the Company from Rs. 10/- each into Re. 1/- each with effect from 22 January 2014. Accordingly, the Option holders, upon exercise of each Option of Rs. 10/- are issued and allotted 10 (Ten) Equity Shares of Re. 1/- each of the Company.

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Board of Karnataka Bank appoints director

Sep 8 2014 3:30PM

Karnataka Bank announced that the Board of Directors of the Bank at its meeting held on 06 September 2014 has appointed B. A. Prabhakar, former CMD of Andhra Bank as an Additional Director of the Bank u/s 161 of the Companies Act, 2013.

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Rasoya Proteins to hold board meeting

Sep 8 2014 3:30PM

Rasoya Proteins will hold a meeting of the Board of Directors of the Company on 11 September 2014, to consider and approve appointment of Manik Anil Lonkar as a Woman Director in the Board of Directors, and to constitute Risk Management Committee and draft Risk Management Policy.

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Birla Sun Life Enhanced Arbitrage Fund Announces Change In Exit Load Structure

Sep 29 2014 4:37PM

Birla Sun Life Mutual Fund has announced change in exit load of Birla Sun Life Enhanced Arbitrage Fund, an open ended income scheme with effect from 01 October 2014.

Accordingly, for redemption / switch-out of units within 90 days from the date of allotment: 0.50% of applicable NAV.

For redemption / switch-out of units after 90 days from the date of allotment: Nil.

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Birla Sun Life MF Announces change In Lumpsum Subscription Transaction Amount

Sep 29 2014 4:36PM

Birla Sun Life Mutual Fund has decided to revise the maximum amount per lumpsum subscription transaction for Birla Sun Life Short Term Opportunities Fund and Birla Sun Life Medium Term Plan, with effect from 01 October 2014.

Accordingly, the revised maximum amount will be Rs 25 crore per investor per day across all subscription transactions (i.e. fresh purchases, additional purchases, switch-in and trigger transactions such as SIP, STP and RSP trigger) as available under the schemes.

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Religare Invesco Mutual Fund has launched

Sep 12 2014 1:19PM

Religare Invesco Mutual Fund has launched a new close ended debt scheme named “Religare Invesco Fixed Maturity Plan - Series 24 - Plan E (1098 Days)” with maturity period of 1098 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 today and will close on September 16. 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 Growth and Dividend Payout option. The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Nitish Sikand will be the Fund Manager of the scheme. The asset allocation of 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 debt instruments and money market instruments. Hence, the scheme will allocate 70 to 100 per cent of asset in debt instruments and 0 to 30 per cent of asset in money market instruments.

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Dual Advantage FTF launched by Reliance MF

Sep 12 2014 1:16PM

Reliance Mutual Fund has launched a new close ended hybrid scheme named “Reliance Dual Advantage Fixed Tenure Fund VI- Plan C” 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 today and will close on September 24. 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 1 thereafter. The options available under the Plan of the Scheme are Growth and Dividend Payout option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Fund Index. Krishan Daga and Anju Chajjer will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns and reduce interest rate volatility will be met by investing in a portfolio of debt securities, money market instruments and equity & equity related instruments (including options premium). Hence, the scheme will allocate 65 to 95 per cent of asset in debt securities, 0 to 30 per cent of asset in money market instruments and 5 to 20 per cent of asset in equity & equity related instruments (including options premium).

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JPMorgan India Multi Asset Fund files offer document with Sebi

Sep 10 2014 12:54PM

JPMorgan Mutual Fund has filed offer document with Sebi to launch JPMorgan India Multi Asset Fund, an open-ended equity scheme. The New Fund Offer price is Rs 10 per unit.

Investment objective: The investment objective of the scheme is to provide capital appreciation and income distribution to the investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments.

Options/plans: Growth, bonus and dividend (payout & reinvestment) options under both regular plan and direct plan.

Benchmark: CRISIL MIP Blended Fund Index

Entry load: Nil

Exit load:

For each Redemption:

Within and including 18 (eighteen) months from the date of allotment in respect of Purchases made other than through Systematic Investment Plan (“SIP”); and if redeemed within and including 18 (eighteen) months from the date of allotment of units of each installment of SIP purchase: 1%

Beyond 18 (eighteen) months from the date of allotment: Nil

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

Minimum Target Amount: Rs 20 crore

Asset Allocation: The scheme shall invest 20-35% in equity and equity related instruments, 70-90% in equity and equity derivatives (only arbitrage opportunity) and 25-35% in debt securities and money market instruments.

Fund Managers: Equity Portion: Amit Gadgil and Karan Sikka

Debt Portion: Namdev Chougule and Ravi Ratanpal

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Mutual funds extend selling

Sep 10 2014 12:53PM

Mutual funds sold shares worth a net Rs 66.90 crore on Friday, 5 September 2014, compared with outflow of Rs 112.20 crore on Thursday, 4 September 2014.

The net outflow of Rs 66.90 crore on 5 September 2014 was a result of gross purchases of Rs 565.10 crore and gross sales of Rs 632 crore. The S&P BSE Sensex lost 59.23 points or 0.22% to settle at 27,026.70 on that day, its lowest closing level since 2 September 2014.

Mutual funds have sold shares worth a net Rs 124.49 crore in this month so far (till 5 September 2014). Mutual funds bought stocks worth Rs 6957.40 crore last month.

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Templeton India Equity Income Fund Announces Dividend

Sep 8 2014 3:36PM

Franklin Templeton Mutual Fund has announced 12 September 2014 as the record date for declaration of dividend under the dividend plan and direct-dividend plan of Templeton India Equity Income Fund. The amount of dividend will be Rs 0.70 per unit on the face value of Rs 10 per unit.

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UTI Capital Protection Oriented Scheme – Series IV – II (1104 days) Floats On

Sep 8 2014 3:34PM

UTI Mutual Fund has launched a new fund named as UTI Capital Protection Oriented Scheme – Series IV – II (1104 Days), a close ended capital protection oriented income scheme. The duration of the scheme is 1104 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 08 September to 22 September 2014.

The investment objective of the scheme is to endeavor to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as secondary objective.

The scheme offers growth and dividend (payout) options under both regular sub plan and direct sub plan.

The scheme shall invest 70-100% of assets in debt & money market instruments with low to medium risk profile and up to 30% in equity & equity related instruments with medium to high risk profile.

Minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.

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

Entry and exit load charge will be not applicable for the scheme.

Benchmark Index for the scheme is CRISIL MIP Blended Index.

Sunil Patil is the fund manager for the scheme.

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Coriander falls by 0.33% on low demand

Sep 24 2014 1:25PM

Coriander prices fell by 0.33 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the adequate stocks availability in the physical market put pressure on coriander prices. At the NCDEX, coriander futures for October 2014 contract were trading at Rs. 11,834 per quintal, down by 0.33 per cent, after opening at Rs. 11,902 against the previous closing price of Rs. 11,873. It touched the intra-day low of Rs. 11,815 till the trading. (At 11.41 AM today).

Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market.

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

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Castorseed falls by 0.45% in Mcx market

Sep 24 2014 1:24PM

Castorseed prices fell by 0.45 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for October 2014 contract was trading at Rs. 4,405 per quintal tonnes, down by 0.45 per cent, after opening at Rs. 4,415 against the previous closing price of Rs. 4,425. It touched the intra-day low of Rs. 4,383 till the trading. (At 12.20 PM today).

Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.

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silver trading week in the mcx market

Sep 18 2014 4:59PM

 Silver futures slumped in the domestic market on Thursday as investors and speculators exited positions in the precious metal after the US Federal Reserve predicted a faster pace of monetary tightening once the rate hike cycle begins possibly next year, dimming the appeal of silver as a store of value.

The Fed which re-affirmed its commitment to keep interest rates near zero for a while yet, raised its median estimate for the federal funds rate by 25 basis points at the end of 2015 to 1.375 per cent, up from 1.125 per cent predicted in June. At the end of 2017, the rate is expected to stand at 3.75 per cent.

Silver futures for December 2014 contract, at MCX, is trading at Rs. 40,985 per 10 grams, down by 0.94 per cent, after opening at Rs. 41,201, against the previous closing price of Rs 41,374. It touched an intra-day low of Rs 40,937

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China property slump takes toll on Zinc

Sep 18 2014 4:54PM

Zinc futures slumped in the domestic market on Thursday as investors and speculators exited positions in the industrial metal as a deepening property market downturn in China, the world’s biggest metals consumer, clouded the demand outlook for zinc, which is used in construction activities.

Prices of new homes fell in 68 out of the 70 Chinese cities tracked by the government in August, the most since January 2011.

At the MCX, Zinc futures for September 2014 contract is trading at Rs. 137.30 per 1 kg, down by 0.29 per cent, after opening at Rs. 137.95, against the previous closing price of Rs. 137.70. It touched an intra-day low of Rs. 136.85.

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Slowing China credit growth takes toll on Copper

Sep 12 2014 1:15PM

Copper futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal tracking a weak trend in the overseas market after China’s aggregate financing, the broadest measures of new credit, stood at 957.4 billion yuan in August, compared to analysts’ estimates of 1.135 trillion yuan, signaling weaker growth in the world’s second biggest economy, dimming the demand outlook for the industrial metal. Caution persisted ahead of US retail sales and consumer sentiment data to be released today. At the MCX, copper futures for November 2014 contract is trading at Rs. 419.70 per 1 kg, down by 0.38 per cent, after opening at Rs. 422.05, against the previous closing price of Rs. 421.30. It touched an intra-day low of Rs. 419.65

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Strong arrivals drag down Castorseed futures

Sep 12 2014 1:12PM

  Castorseed prices fell by 0.08 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for September 2014 contract was trading at Rs. 3,990 per quintal tonnes, down by 0.08 per cent, after opening at Rs. 3,985 against the previous closing price of Rs. 3,993. It touched the intra-day low of Rs. 3,980 till the trading. (At 12.20 PM today).

Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.

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Coriander gains by 0.04% on limited arrivals

Sep 10 2014 12:58PM

 Coriander prices rose by 0.04 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. At the NCDEX, coriander futures for September 2014 contract was trading at Rs. 11,425 per quintal, up by 0.04 per cent after opening at Rs. 11,400 against the previous closing price of Rs. 11,420. It touched the intra-day high of Rs. 11,452 till the trading. (At 11.35 AM today).

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

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

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Fresh arrivals drag down Castorseed futures

Sep 10 2014 12:55PM

 Castorseed prices fell by 0.51 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for September 2014 contract was trading at Rs. 4,077 per quintal tonnes, down by 0.51 per cent, after opening at Rs. 4,096 against the previous closing price of Rs. 4,098. It touched the intra-day low of Rs. 4,065 till the trading. (At 12.20 PM today).

Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.

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Pre Session- Sensex may open lower; PMI eyed

Oct 1 2014 9:04AM

The key domestic benchmarks may open lower today amid subdued cues from overseas markets as a surprise dip in US consumer confidence last month signaled doubts over the recovery in the world’s biggest economy, curbing the appetite for risky assets. The Sensex may witness profit booking ahead of holidays from October 2 through October 6. The RBI’s decision to maintain status quo on interest rates may cause selling pressure in rate sensitive stocks. The central bank refrained from an interest rate cut, keeping its key repo rate unchanged at 8 per cent as it warned of an upside risk to its medium-term inflation target. Investors may also exercise caution ahead of HSBC India manufacturing PMI for the month of September which will offer the latest snapshot of health in Asia’s third biggest economy. The index stood at 52.4 in August, with a reading above 50 signaling expansion in manufacturing over the previous month. While markets in mainland China and Hong Kong were shut for holidays, Japan’s Nikkei 225 rose as business sentiment improved in the quarter ended September.

Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 10734306.00, DLF Ltd. 9108003.00, Power Grid Corporation of India Ltd. 7285892.00, ITC Ltd. 6544791.00 and IDFC Ltd. 6342740.00.

On BSE, total number of shares traded was 28.40 Crore and total turnover stood at Rs. 3820.53 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 445462 with a total turnover of Rs. 17678.57 Crore. Along with this total number of contracts traded in stock futures were 665212 with a total turnover of Rs. 26122.76 Crore. Total numbers of contracts for index options were 3572914 with a total turnover of Rs. 143720.88 Crore and total numbers of contracts for stock options were 275221 with a total turnover of Rs. 10434.09 Crore.

The FIIs on 30/09/2014 stood as net buyer in equity and net seller in debt. Gross equity purchased stood at Rs. 2665.36 Crore and gross debt purchased stood at Rs. 832.56 Crore, while the gross equity sold stood at Rs. 2433.77 Crore and gross debt sold stood at Rs. 992.64 Crore. Therefore, the net investment of equity and debt reported were Rs. 231.59 Crore and Rs. -160.08 Crore.

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LME Inventory

Sep 30 2014 2:20PM

       COPPER: -1550

       ZINC: -625

       LEAD: -25

       NICKLE: +2700

       ALUMINIUM: -5875

LME Cancelled Warrants

       COPPER: -[0.85]

       ZINC: +[0.05]

       LEAD: -[0.01]

       NICKLE: -[0.43]