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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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P I Industries gallops after announcing robust Q4 results

May 25 2016 1:24PM

On BSE, so far 36,224 shares were traded in the counter as against average daily volume of 33,278 shares in the past one quarter. The stock hit a high of Rs 648.55 and a low of Rs 611.95 so far during the day. The stock had hit a 52-week high of Rs 756.20 on 25 May 2015. The stock had hit a 52-week low of Rs 495.35 on 26 February 2016. The stock had underperformed the market over the past one month till 24 May 2016, sliding 6.96% compared with Sensex's 2.06% fall. The scrip had, however, outperformed the market in past one quarter, gaining 10.84% as against Sensex's 9.6% rise.

The mid-cap company has equity capital of Rs 13.71 crore. Face value per share is Re 1.

P I Industries said that during Q4 March 2016, blended revenues grew 8.9%. This was backed by 17% growth in agri-inputs and 6% enhancement in exports. The domestic performance was driven by momentum within the portfolio of in-licensed products in light of the expected good monsoon. The planned scale-up in deliveries against existing molecules combined with commissioning of two new plants at Jambusar facility led to healthy improvement in custom synthesis exports.

P I Industries in its outlook said that the view on the business is positive, duly supported by favourable expectations of good monsoon in the key domestic market, normalization of momentum in exports and regular introduction of 2-3 products in both the segments ie agri-Input and custom synthesis. Growth on the domestic front will be driven by a leading profile of exciting products that have been launched in the past couple of years and augmented by new introductions. This will be supported by extensive efforts to establish the range of products further, while leveraging the extensive distribution apparatus and farmer outreach initiatives of the company.

The company will introduce a new herbicide named, ‘Legacee' during Kharif 2016. The custom synthesis exports remains well-placed to deliver robust upsides in the coming year on the back of growth in requirements for existing molecules and commercialization of new molecules as per plan, continuing strong order book position, production scale-up on account of the two newly commissioned plants at Jambusar, focus on developing new process technologies through investment in R&D and initiated business in the pharmaceuticals segment.

P I Industries focuses on agri-input and custom synthesis.

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Bliss GVS Pharma hits 52-week low

May 25 2016 1:23PM

On BSE, so far 1.04 lakh shares were traded in the counter as against average daily volume of 77,121 shares in the past one quarter. The stock hit a low of Rs 90 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 103.25 so far during the day. The stock had hit a record high of Rs 210.90 on 7 October 2015. The stock had underperformed the market over the past one month till 24 May 2016, sliding 14.71% compared with Sensex's 2.06% fall. The scrip had also underperformed the market in past one quarter, declining 33.5% as against Sensex's 9.6% rise.

The small-cap company has equity capital of Rs 10.31 crore. Face value per share is Rs 1.

Bliss GVS Pharma is a fast-growing pharmaceutical company with a proven track record of developing, manufacturing and marketing high quality pharmaceutical formulations at affordable prices for the global market.

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Volumes jump at VRL Logistics counter

May 25 2016 1:22PM

VRL Logistics clocked volume of 22.56 lakh shares by 13:07 IST on BSE, a 76.22-times surge over two-week average daily volume of 30,000 shares. The stock tumbled 9.28% to Rs 285.85, extending Tuesday's 20% slide triggered by the announcement that the company's promoters may dilute a portion of their stake in the company to fund their proposed airline venture.

Essel Propack notched up volume of 5.83 lakh shares, a 42.55-fold surge over two-week average daily volume of 14,000 shares. The stock lost 2.77% at Rs 196.70.

Greenply Industries saw volume of 6.49 lakh shares, a 25.08-fold surge over two-week average daily volume of 26,000 shares. The stock surged 6.73% at Rs 210.85.

Container Corporation of India clocked volume of 1.83 lakh shares, a 10.91-fold surge over two-week average daily volume of 17,000 shares. The stock fell 0.87% at Rs 1,370.70.

Tech Mahindra saw volume of 7.33 lakh shares, a 10.63-fold rise over two-week average daily volume of 69,000 shares. The stock jumped 8.3% at Rs 519.05 on reports a domestic brokerage has raised its price target on the stock while retaining its accumulate rating in the wake of the company's strong Q4 March 2016 results. The domestic brokerage reportedly said that Tech Mahindra remains its top pick among Tier I offshore IT services firms, with results providing early evidence of improvement in operational/financial performance.

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VRL Logistics tumbles on worries of promoter stake dilution

May 24 2016 6:58PM

On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 20,238 shares in the past one quarter. The stock hit a high of Rs 360 so far during the day. The stock had hit a record high of Rs 478.70 on 1 September 2015. The stock had hit a 52-week low of Rs 275.60 on 3 June 2015. The stock had underperformed the market over the past one month till 23 May 2016, sliding 3.29% compared with Sensex's 2.35% fall. The scrip had, however, outperformed the market in past one quarter, surging 26.23% as against Sensex's 7.78% rise.

The mid-cap company has equity capital of Rs 91.24 crore. Face value per share is Rs 10.

VRL Logistics' promoters Vijay Sankeshwar and Anand Sankeshwar informed the board of directors of the company that they are currently proposing to enter the civil aviation industry by incorporating a separate company to undertake the business of a regional airline. The promoters said that they have taken this in-principle decision after a lot of study and inputs from industry experts. They intend to promote this new airline and induct a professional management to manage the day to day operations and grow this business, the statement said. The promoters said that they may seek to dilute a portion of their stake in VRL Logistics in order to provide them with liquidity to enable their investment for the aviation venture. Such dilution will be undertaken in accordance with all applicable laws and subsequent to the same, they will continue to hold a majority stake in the company, the statement said.

Vijay Sankeshwar and Anand Sankeshwar held 34.84% and 34.27% stake respectively in VRL Logistics as on 31 March 2016.

VRL Logistics' net profit declined 31.8% to Rs 13.21 crore on 4.5% growth in net sales to Rs 411.92 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 23 May 2016.

VRL Logistics is one of the leading pan-India surface logistics and parcel delivery service providers.

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MOIL declines after weak Q4 numbers

May 24 2016 6:58PM

On BSE, so far 59,000 shares were traded in the counter as against average daily volume of 20,431 shares in the past one quarter. The stock hit a high of Rs 234 and a low of Rs 214.30 so far during the day. The stock had hit a record low of Rs 180.10 on 12 February 2016. The stock had hit a 52-week high of Rs 257.40 on 22 May 2015. The stock had underperformed the market over the past one month till 23 May 2016, sliding 3.12% compared with Sensex's 2.35% fall. The scrip had, however, outperformed the market in past one quarter, surging 25.4% as against Sensex's 7.78% rise.

The mid-cap company has equity capital of Rs 168 crore. Face value per share is Rs 10.

MOIL operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. The Government of India (GoI) held 71.57% stake in the company (as per the shareholding pattern as on 31 March 2016).

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Torrent Pharma advances after strong Q4 outcome

May 24 2016 6:57PM

On BSE, so far 68,106 shares were traded in the counter as against average daily volume of 21,189 shares in the past one quarter. The stock hit a high of Rs 1,417.95 and a low of Rs 1,250.85 so far during the day. The stock had hit a record high of Rs 1,720 on 1 September 2015. The stock had hit a 52-week low of Rs 1172.20 on 1 June 2015.

The large-cap company has equity capital of Rs 84.61 crore. Face value per share is Rs 5.

Torrent Pharmaceuticals' consoldiated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 96% to Rs 507 crore in Q4 March 2016 over Q4 March 2015. Torrent Pharmaceuticals said that the results for the Q3 December 2015 and Q4 March 2016 are after giving effect of scheme of amalgamation while figures for corresponding quarters are before giving effect of amalgamation. Hence, the figures for corresponding period and previous year are not comparable with figures of current period. It may be recalled that Torrent Pharmaceuticals had acquired 100% stake in formulation facility of Zyg Pharma on 17 July 2015.

Torrent Pharma is the flagship company of the Torrent Group. The company is engaged in the manufacture of formulations and bulk drugs.

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Suven Life Sciences gains after securing four product patents

May 23 2016 12:40PM

On BSE, so far 47,633 shares were traded in the counter as against average daily volume of 97,199 shares in the past one quarter. The stock hit a high of Rs 214.60 and a low of Rs 202.90 so far during the day. The stock had hit a record high of Rs 319.45 on 22 May 2015. The stock had hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had outperformed the market over the past one month till 20 May 2016, falling 1.94% compared with the Sensex's 2.1% fall. The scrip had also outperformed the market in past one quarter, jumping 41.82% as against Sensex's 6.72% gains.

The mid-cap company has equity capital of Rs 12.73 crore. Face value per share is Rs 1.

Suven Life Sciences announced that it secured product patents in Australia, Eurasia, Israel and USA to their New Chemical Entities (NCE's) for CNS therapy through mechanism of action–H3 Inverse agonist and these patents are valid until 2032, 2030, 2031 and 2032 respectively. Suven said that the granted claims of the patents include the class of selective H3 ligands discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders.

With these new patents, Suven has a total of 24 granted patents from Australia, 17 granted patents from Eurasia, Nine granted patents from Israel and twenty four granted patents from USA. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

Suven Life Sciences' net profit fell 45% to Rs 17.72 crore on 12.7% decline in net sales to Rs 112.50 crore in Q3 December 2015 over Q3 December 2014.

Suven Life Sciences is a clinical stage biopharmaceutical company developing novel medicines to treat life-threatening Central Nervous System (CNS) disorders.

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Bayer CropScience gains, Monsanto India tumbles

May 23 2016 12:39PM

Bayer CropScience was up 1.32% at Rs 3,950.05. Bayer AG is a parent firm of Bayer CropScience. It held 68.57% stake in Bayer CropScience as on 31 March 2016.

Monsanto India was down 6.71% at Rs 2,120.05. Monsanto Company is a parent firm of Monsanto India. It held 72.14% stake in Monsanto India as on 31 March 2016.

Meanwhile, the S&P BSE Sensex was up 18.94 points or 0.07% at 25,320.84.

According to reports, Bayer AG (Bayer) had approached Monsanto Company (Monsanto) about a takeover at $122 a share which is a 37% premium over Monsanto's closing price of $89.03 on 9 May 2016. Bayer would reportedly finance the deal with a combination of equity and debt.

Monsanto had last week announced that it had received an unsolicited, non-binding proposal from Bayer for a potential acquisition of Monsanto, subject to due diligence, regulatory approvals and other conditions.

Monsanto India is a seed company focusing on maize and agricultural productivity. The company's net profit declined 15.7% to Rs 40.76 crore on 15.4% growth in net sales to Rs 153.88 crore in Q3 December 2015 over Q3 December 2014.

Bayer CropScience has presence in seeds, crop protection and non-agricultural pest control. It is organized into operating units viz. crop protection, seeds and environmental science. The company's net profit fell 62% to Rs 16.50 crore on 7.4% decline in net sales to Rs 500.80 crore in Q4 March 2016 over Q4 March 2015.

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IndusInd Bank partners with Lohia Auto Industries

May 25 2016 1:26PM

Lohia Auto Industries announced IndusInd Bank as its preferred financier for financing their diesel three wheelers. Through this partnership IndusInd bank will offer retail finance at an attractive rate of interest to the customers of Lohia Auto for all Lohia 3 wheeler models.

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Board of Oseaspre Consultants does not recommend dividend

May 25 2016 1:25PM

Oseaspre Consultants announced that the Board of Directors of the Company at its meeting held on 18 May 2016, inter alia, has not recommended any dividend on the Equity Shares.

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Board of Nagarjuna Agrichem recommends final dividend

May 24 2016 6:59PM

Nagarjuna Agrichem announced that the Board of Directors of the Company at its meeting held on 21 May 2016, inter alia, have recommended the final dividend of Rs 0.1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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SSWL bags export order from Canada Winter Wheels Market

May 23 2016 12:41PM

Steel Strips Wheels has bagged an export order from Canadian Winter Wheels market. The order will cover supplies of about 17,000 wheels with an order of about USD 225000.

The wheels will be supplied from SSWL's Dappar and Chennai plants in India with the first supplies planned by the end of mid of next month.

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Lycos Internet announces change in directorate

May 19 2016 1:45PM

Lycos Internet announced the appointment of Dr. Jayalakshmi Kumari as Independent Director with effect from 17 May 2016. While, Rajyalaxmi Reddy, Non-Executive Director, has resigned from the board (effective 18 May 2016) citing other obligations.

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Archit Organosys to hold board meeting

May 19 2016 1:45PM

Archit Organosys will hold a meeting of the Board of Directors of the Company on 30 May 2016, to consider and approve the Quarterly / Yearly Audited Financial Results for the aforesaid Quarter/Year end and to consider recommendation of Dividend, if any on the Equity Shares of the Company.

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Vegetable Products appoints director

May 19 2016 1:43PM

Vegetable Products have appointed Kirti Sharma as Non Executive Director to hold office as such w.e.f. 20 May 2016 till the conclusion of ensuing Annual General Meeting.

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Board of Tata Coffee recommends final dividend

May 18 2016 1:52PM

Tata Coffee announced that the Board of Directors of the Company at its meeting held on 16 May 2016, inter alia, have recommended the final dividend of Rs 1.30 per equity Share (i.e. 130%) , subject to the approval of the shareholders.

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ICICI Prudential MF Announces Change in Fund Managers

May 25 2016 1:27PM

ICICI Prudential Mutual Fund has announced the following change in the fund managers in addition to the other schemes managed by them, with immediate effect.

Accordingly, ICICI Prudential India Recovery Fund will be joinly managed by Manish Gunwani & Ashwin Jain.

Further, the investments under ADRs/GDRs and other foreign securities will be continued to be managed by Shalya Shah.

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Reliance Fixed Horizon Fund – XXXI – Series 1 Floats On

May 25 2016 1:27PM

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXXI – Series 1, a close ended income scheme with the duration of 1116 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 25 May and close on 26 May 2016.

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.

The scheme offers growth and dividend payout option under both regular plan and direct plan.

The scheme will allocate upto 30% of its assets in money market instruments with low risk profile and invest 70%-100% of its assets in government securities & debt instruments with low to medium risk profile.

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

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

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

Benchmark Index for the scheme is Crisil Short Term Bond Fund Index.

The fund manager of the scheme will be Amit Tripathi.

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Mutual funds extend buying

May 24 2016 7:00PM

Mutual funds (MFs) bought stocks worth a net Rs 15.10 crore on 23 May 2016, compared with net inflow of Rs 357.50 crore on 20 May 2016. The net inflow of Rs 15.10 crore on 23 May 2016 was a result of gross purchases of Rs 28 crore and gross sales of Rs 12.90 crore. On that day, the Sensex fell 71.54 points or 0.28% to settle at 25,230.36, its lowest closing level since 6 May 2016.

Mutual funds have bought shares worth a net Rs 3722.79 crore in May 2016 (so far till 23 May 2016). They sold shares worth a net Rs 575.50 crore last month.

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HDFC Mutual Fund launches New Close Ended Scheme

May 23 2016 12:38PM

HDFC Mutual Fund has launched a new close ended income scheme named “HDFC FMP 1127D May 2016 (1)” with maturity period of 1127 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 23rd May 2016 and will close on 30th May 2016. 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 5000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against Crisil Short Term Bond Fund Index. Anupam Joshi and Rakesh Vyas will be the fund managers of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate income will be met through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s). Hence, the scheme will allocate 80-100 per cent of asset in Debt Instruments and 0-20 per cent of asset in Money Market Instruments.

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HDFC Arbitrage Fund Announces Dividend

May 18 2016 1:54PM

HDFC Mutual Fund has announced 23 May 2016 as the record date for declaration of dividend under the normal dividend option (payout and reinvestment) and direct plan-normal dividend option (payout and reinvestment) of HDFC Arbitrage Fund-Wholesale Plan.

The amount of dividend will be Rs 0.050 per unit under each plan / option on the face value of Rs 10 per unit.

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Kotak Equity Arbitrage Fund Announces Dividend

May 18 2016 1:53PM

Kotak Mutual Fund has announced 23 May 2016 as the record date for declaration of dividend under the Bimonthly dividend option of Kotak Equity Arbitrage Fund, an open ended equity scheme. The amount of dividend on the face value of Rs 10 per unit will be:

Kotak Equity Arbitrage Fund – Regular Plan-Bimonthly Dividend Option: Rs 0.1782 per unit.

Kotak Equity Arbitrage Fund – Direct Plan-Bimonthly Dividend Option: Rs 0.1947 per unit.

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HSBC Fixed Term Series 126 (1138 days) Floats On

May 17 2016 1:42PM

HSBC Mutual Fund has launched a new fund named as HSBC Fixed Term Series 126 (1138 days), a close ended income scheme with the duration of 1138 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 16 May and closes on 19 May 2016.

The investment objective of the scheme would be to seek generation of returns by investing in a portfolio of fixed income instruments which mature on or before the maturity date of the scheme.

The scheme offers growth and dividend payout option.

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

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

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

Entry load: Nil

Exit load: Not Applicable.

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

The fund manager for the scheme is Piyush Harlalka

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ICICI Prudential Fixed Maturity Plan – Series 79 – 1105 Days Plan B Floats On

May 17 2016 1:42PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 79 – 1105 Days Plan B, a close ended debt scheme. The tenure of the scheme is 1105 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 17 May to 18 May 2016.

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

Presently, two options are available under the scheme viz. cumulative and dividend with only dividend payout option.

The scheme will invest 80%-100% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the Plan.

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

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

The scheme is proposed to be listed on NSE.

Entry load and exit load charge are not applicable for the scheme.

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

The fund managers of the scheme are Rahul Goswami and Rohan Maru.

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Copper gains 0.35% on strong German data

May 25 2016 5:57PM

Copper prices rose by 0.35 per cent on Wednesday after German business confidence improved to the highest level in five months in May, boosting optimism over the health of the euro zone’s largest economy signaling improving sentiment in the region which raised the demand outlook for the industrial metal. In a report, the German research institute, Ifo said its Business Climate Index improved to a seasonally adjusted 107.7 this month from a reading of 106.6 in April, above forecasts for 106.8.

At the MCX, copper futures for June 2016 contract were trading at Rs.312.55 per 1 kg, up by 0.35 per cent, after opening at Rs. 312.20 against the previous closing price of Rs. 311.45. It touched the intra-day high of Rs. 313.80 till the trading. (At 4.45 PM today). Prices also rose 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 2000 metric tonnes to 155250 metric tonnes as on May 25, 2016.

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Crude oil gains as Iraqi output slows from record levels

May 25 2016 1:20PM

Crude oil prices rose as Iraq's OPEC governor expressed concerns regarding the nation's slowing output, helping ease supply levels from near-record highs. Iraq OPEC governor Falah Alamri indicated that production nationwide is hovering around 4.5 million barrels per day, amid slowing output due primarily to poor weather, maintenance issues and numerous power outages

Prices also rose after US industry stock data showed a sharp drop at the end of last week. The American Petroleum Institute said that crude oil stock dropped 5.137 million barrels last week, compared to a decline of 3.3 million barrels seen, as refineries typically ramp up gasoline production as the summer driving season approaches next week in the US with the Memorial Day weekend.

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Lead up on firm physical demand

May 24 2016 6:56PM

Lead futures climbed during evening trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for Lead by battery-makers in the domestic spot market.

Robust German economic data also lifted the demand outlook for Lead as Europe’s biggest economy grew by 0.7 per cent in the January –March 2016 quarter from the prior quarter led by the biggest jump in investment spending in two years and solid construction activity.

At the MCX, Lead futures for June 2016 contract were trading at Rs.111.6 per 1 kg, up by 0.18 per cent, after opening at Rs. 111.85, against the previous closing price of Rs. 111.4. It touched the intra-day high of Rs. 112.1 till the trading.

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Weak physical demand hits Mentha Oil

May 24 2016 6:55PM

Mentha Oil futures fell in the domestic market during evening trade on Monday as investors and speculators exited positions in the agri- commodity amid weak physical demand for mentha oil in the domestic spot market.

Further, increased arrivals in the physical market from major producing belts in Uttar Pradesh also exerted downward pressure on prices of mentha oil.

At the MCX, Mentha oil futures for June 2016 contract were trading at Rs.870 per 1 kg, down by 0.34 per cent, after opening at Rs. 875, against the previous closing price of Rs. 873. It touched the intra-day low of Rs. 863 till the trading

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Coriander drops 2.62 pct on ample supplies

May 23 2016 12:35PM

Coriander prices fell by 2.62 per cent on Monday 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 June 2016 contract were trading at Rs. 6,975 per quintal, down by 2.62 per cent, after opening at Rs. 7,126 against the previous closing price of Rs. 7,163. It touched the intra-day low of Rs. 6,949 till the trading. (At 11.40 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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Crude oil dips firm global supply

May 23 2016 12:34PM

 Crude oil prices fell on signs that global crude supply is holding up even as volumes hit by unplanned outages rise to at least five-year highs. In a further indication of abundant supply, the number of rigs operated by US drillers was steady last week for the first time this year. Global oil supply has still outstripped demand by around 1.5 million barrels per day, Russian Energy Minister Alexander Novak said.

Sentiment weakened further after Japan’s all industries activity index rose less-than-expected last month signaling weak sentiment in the region which reduced the demand outlook for the metal.

In a report, Japanese Ministry of Economy, Trade and Industry said that Japan’s All Industries Activity Index rose to a seasonally adjusted 0.1 per cent, from -0.9 per cent in the preceding month whose figure was revised up from -1.2 per cent. Analysts had expected Japan’s All Industries Activity Index to rise 0.7 per cent last month.

A meeting of the OPEC exporters' group, including Iran, is scheduled for June 2.

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Crude oil dips as Fed rate hike views weigh

May 19 2016 1:40PM

Crude oil prices fell by 1.87 per cent on Thursday as the minutes of the Federal Reserve's April meeting weighed on the commodity with prospects for a rate hike as early as June expected to boost the greenback further. Federal Reserve sent strong indications in its April minutes that it could raise interest rates next month, triggering a rapid increase in the slumping dollar.

At the MCX, crude oil futures for May 2016 contract were trading at Rs. 3,207 per barrel, down by 1.87 per cent, after opening at Rs. 3,245 against the previous closing price of Rs. 3,268. It touched the intra-day low of Rs. 3,194 till the trading. (At 12.15 PM today).

Prices also fell after US Energy Information Administration (EIA) said US commercial crude oil inventories increased by 1.3 million barrels for the week ending on May 13 from the previous week indicating that the demand for the commodity in US is weak. At 541.3 million barrels, US crude oil inventories are at historically high levels for this time of year.

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Gold drops amid fears over hawkish Fed minutes

May 18 2016 1:48PM

Gold prices fell by 0.19 per cent on Wednesday as market players looked ahead to minutes of the Federal Reserve’s April policy meeting, which many feared could be more hawkish than the statement. Investors will be focusing on minutes of the Federal Reserve’s April policy meeting due on Wednesday, for some clarity on where the US central bank stands on its path toward rate hikes. The Fed left interest rates unchanged following its meeting on April 27 and issued a statement implying it was in no hurry to raise rates. Gold futures for June 2016 contract, at MCX, were trading at Rs. 29,991 per 10 grams, down by 0.19 per cent after opening at Rs. 30,041 against the previous closing price of Rs. 30,049. It touched the intra-day low of Rs. 29,970 till the trading. (At 12.40 PM today).

Further, a stronger dollar reduced the appeal of gold as an alternative asset. Stronger greenback makes the bullion expensive for those holding other currencies, thus reducing demand.

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Post Session: Indian equities follow Wall Street higher; Sensex surges 575 pts

May 25 2016 5:56PM

The Indian equities were in bullish mood today and jumped the most in the last three months as oil price rally and strong corporate earnings number shrugged off fear about rate hikes by the US Federal Reserve. While growing optimism that US will be able to withstand the effect of higher interest rates also boosted the lure for riskier assets. All the thirteen sectoral indices ended in green amid sustained buying by funds and retail investors as they cover-up pending short positions ahead of tomorrow's May series expiry in the derivatives segment.

Extending previous session rally, the BSE SENSEX closed at 25881.17, up by 575.7 points, or by 2.28 per cent, and the NSE Nifty ended at 7934.9, up by 186.05 points, or by 2.4 per cent.

In the broad-based rally, the BSE Sensex touched intraday high of 25897.87 and intraday low of 25430.59, while the NSE Nifty touched intraday high of 7941.2 and intraday low of 7809.3.

In a similar trend, the BSE MIDCAP closed at 11079.97, up by 106.67 points, or by 0.97 per cent, while the BSE SMLCAP settled at 10953.83, up by 102.17 points, or by 0.94 per cent.

The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 234.45,+4.48%), Bharat Heavy Electricals Ltd. (Rs. 122.65,+4.34%), Larsen & Toubro Ltd. (Rs. 1291.30,+4.02%), Bajaj Auto Ltd. (Rs. 2478.85,+3.96%), Maruti Suzuki India Ltd. (Rs. 4053.60,+3.47%), among others.

On the sectoral front, all the thirteen indices ended in green with bankex and capital goods stocks emerged as top gainers, gaining as much as 3.17 per cent and 2.96 per cent respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2858, shares advanced were 1641 while 1020 shares declined and 197 were unchanged.

On the global front, most of the Asian stocks ended tad higher with Hong Kong and Japanese markets witnessed surge in buying activity as traders cheered data showing that US new home sales rose to the highest level in more than eight years, up by 16.6 per cent to a 619,000 annualized rate in April 2016, signaling a robust housing market recovery in the country’s economy, and raising hopes that a potential June rate hike may not have an adverse impact on growth. China’s Shanghai Composite settled with modest losses, paring early gains.

European stocks also opened tad higher on Wednesday as rebound in oil prices and Greece new debt deal boosted market sentiments.

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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]