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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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Astra Microwave Products gains after reporting strong Q4 results

May 2 2016 1:12PM

On BSE, so far 1.23 lakh shares were traded in the counter, compared with an average volume of 98,679 shares in the past one quarter. The stock hit a high of Rs 128 and a low of Rs 125.70 so far during the day. The stock hit a 52-week high of Rs 155.30 on 27 November 2015. The stock hit a 52-week low of Rs 100 on 16 June 2015. The stock had outperformed the market over the past one month till 29 April 2016, gaining 18.12% compared with Sensex's 2.84% gains. The scrip had, however, underperformed the market in past one quarter, sliding 2.72% as against Sensex's 2.96% gains.

The mid-cap company has an equity capital of Rs 17.32 crore. Face value per share is Rs 2.

Astra Microwave Products said that it has an order booking of Rs 538 crore as of 31 March 2016 which is executable in the next 12 to 18 months period.

Astra Microwave Products' board of directors recommended dividend of Rs 1.20 per share for the year ended 31 March 2016 (FY 2016).

Astra Microwave Products develops, manufactures, and distributes wireless communication solutions. The company offers products in the areas of telecommunications, defense, and space, and the product line includes amplifiers, base stations, dish antennas, filters, microwave components, and switching equipment.

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Navin Fluorine International scales record high after strong Q4 outcome

May 2 2016 1:05PM

The stock hit a high of Rs 2,050 in intraday trade so far, which is a record high for the counter. The stock hit a low of Rs 1,944.50 so far during the day. The stock had hit a 52-week low of Rs 772 on 11 May 2016. The stock had underperformed the market over the past one month till 29 April 2016, falling 0.65% compared with Sensex's 2.84% gains. The scrip also underperformed the market in past one quarter, declining 1.1% as against Sensex's 2.96% gains.

The small-cap company has equity capital of Rs 9.80 crore. Face value per share is Rs 10.

Navin Fluorine International's earnings before interest, taxes, depreciation and amortization (EBITDA) rose 95% to Rs 36 crore in Q4 March 2016 over Q4 March 2015. EBITDA margin edged higher to 18.9% in Q4 March 2016, from 12.6% in Q4 March 2015.

Navin Fluorine International is the largest integrated specialty fluorochemical company in India.

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Yes Bank gains after RBI approves hike in investment limit by foreign investors

May 2 2016 1:04PM

On BSE, so far 2.18 lakh shares were traded in the counter as against average daily volume of 4.07 lakh shares in the past one quarter. The stock hit a high of Rs 958 so far during the day, which is a record high for the counter. The stock hit a low of Rs 944 so far during the day. The stock had hit a 52-week low of Rs 590 on 24 August 2015. The stock had outperformed the market over the past one month till 29 April 2016, gaining 11.46% compared with Sensex's 2.84% gains. The scrip had also outperformed the market in past one quarter, rising 26.34% as against Sensex's 2.96% gains.

The large-cap private sector bank has equity capital of Rs 420.75 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) notified on Friday, 29 April 2016, that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest up to 60% of the paid-up capital of the bank from existing 49% under the Portfolio Investment Scheme (PIS). The RBI notified that the total foreign investment from all sources i.e. Global Depository Receipts (GDR)/American Depository Receipts (ADR)/Foreign Direct Investment (FDI)/Foreign Institutional Investors (FII)/ Registered Foreign Portfolios Investors (RFPIs)/Non-Resident Indians (NRI)/Persons of Indian Origin (PIO) in the company shall not exceed 60%. The central bank stated that Yes Bank has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

Yes Bank's net profit rose 27.4% to Rs 702.11 crore on 17.7% rise in total income to Rs 4331.11 crore in Q4 March 2016 over Q4 March 2015.

Yes Bank is a private sector bank with a pan India presence.

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Jubilant FoodWorks slides as promoter offloads stake

Apr 29 2016 6:18PM

On BSE, so far 1.33 lakh shares were traded in the counter as against average daily volume of 40,705 shares in the past one quarter. The stock hit a high of Rs 1,219.65 and a low of Rs 1,122.65 so far during the day. The stock had hit a 52-week low of Rs 896.65 on 12 February 2016. The stock had hit a record high of Rs 1,984 on 17 July 2015. The stock had underperformed the market over the past one month till 28 April 2016, sliding 1.16% compared with Sensex's 2.55% rise. The scrip had also underperformed the market in past one quarter, declining 2.7% as against Sensex's 4.63% rise.

The mid-cap company has equity capital of Rs 65.80 crore. Face value per share is Rs 10.

Promoter Jubilant Consumer sold 23.70 lakh shares of Jubilant FoodWorks at Rs 1,279.37 per share in a bulk deal on the NSE yesterday, 28 April 2016. Credit Suisse (Singapore) bought 22.85 lakh shares of the company at Rs 1,279.06 per share.

Jubilant Consumer held 48.67% stake in Jubilant FoodWorks as per the shareholding pattern as on 31 March 2016.

Jubilant FoodWorks' net profit declined 9.3% to Rs 31.75 crore on 14.3% growth in net sales to Rs 633.76 crore in Q3 December 2015 over Q3 December 2014.

Jubilant FoodWorks and its subsidiary operates Domino's Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka.

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Atul drops on profit taking after Q4 results

Apr 29 2016 6:17PM

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 3,866 shares in the past one quarter. The stock hit a high of Rs 1,894.95 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,787 so far during the day. The stock had hit a 52-week low of Rs 1,083.35 on 15 June 2015.

The mid-cap company has equity capital of Rs 29.66 crore. Face value per share is Rs 10.

Shares of Atul had risen 4.38% in the preceding four trading sessions to settle at Rs 1,832 yesterday, 28 April 2016, from its close of Rs 1,755 on 25 April 2016.

Atul's bottom line during the quarter was boosted by a sharp surge in other income or non-operational income. Other income galloped 1036% to Rs 15.57 crore in Q4 March 2016 over Q4 March 2015.

Atul is an integrated chemical company serving customers belonging to various industries across the world.

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Marico gains after announcing strong Q4 results

Apr 29 2016 6:16PM

On BSE, so far 1.64 lakh shares were traded in the counter as against average daily volume of 2.25 lakh shares in the past one quarter. The stock hit a high of Rs 258.85 and a low of Rs 252.15 so far during the day.

During Q4 March 2016, Marico delivered a healthy volume growth of 10.5%, on the back of 10.5% volume growth in Q3 December 2015. The India business recorded a robust volume growth of 8.4% while the International business posted a constant currency top line growth of 11% (13% on a like-to-like basis).

During the quarter, the company sold the Goa plant property which was non-operational for over two years since the plant was shut. The sale resulted in a gain of Rs 7.50 crore post tax, which is included under other income.

By 2020, Marico aspires to be an admired emerging market MNC with leadership in two core categories of nourishment and male styling in two continents–Asia and Africa. Marico plans to meet this aspiration by seeking to win amongst consumers, trade and talent. Towards this goal of 2020, the company has identified 5 areas of transformation where it will develop top quartile capability, processes and execution excellence. They are Innovation, Go To Market transformation, Talent Value Proposition, IT & Analytics and Cost Management.

The company will aim at a volume growth of 8-10% and a topline growth of 15% in the medium term. In the near term, though, the value growths may be in single digit given the annual deflation in key commodities in core markets. The company will focus on fewer but bigger innovations to create growth engines of the future. Market growth initiatives in core categories and expansion into adjacent categories will be supported by investments in ASP in a band of 11-12% of sales with focus on brand building. In the near term, advertising inputs to remain in the band of 12-13% taking advantage of lower input costs. The company will continue to invest in increasing its direct reach and Go To Market transformation initiatives in all of its key markets. The company is focusing on Digital initiatives in a big way to improve consumer engagement, drive sales through e-commerce for internet savvy consumers and build data Analytics capabilities In FY 2017, there are plans to revitalize the cost management initiatives with specific focus on front-end spend effectiveness.

Operating margin is expected to be maintained in a band of 17-18% over the medium term. The company will focus on deriving synergies from the unification of India and International FMCG businesses. This includes acceleration of cross pollination & portfolio harmonization, talent mobility, supply chain synergies and process harmonization leading to cost arbitrage. In the near term, however, given the soft commodity prices, the margins will witness an upward bias.

Marico is a leading Indian group in consumer products & services in the global beauty and wellness space.

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Realty stocks rally

Apr 28 2016 6:01PM

Indiabulls Real Estate (up 10.47% at Rs 62.80), D B Realty (up 10.19% at Rs 51.35), Housing Development and Infrastructure (up 4.95% at Rs 87), DLF (up 3.29% at Rs 127.20), Godrej Properties (up 2.51% at Rs 339), Sobha (up 0.34% at Rs 298), Prestige Estates Projects (up 0.57% at Rs 169), Oberoi Realty (up 0.12% at Rs 285.90) and Unitech (up 0.2% at Rs 4.96) edged higher.

The S&P BSE Realty index was currently up 32.48 points or 2.46% at 1,351.20. It outperformed the Sensex which was down 353.91 points or 1.36% at 25,710.21.

The BSE Realty index had outperformed the market over the past one month till 27 April 2016, gaining 7.12% compared with Sensex's 2.87% rise. The index had also outperformed the market in past one quarter, advancing 9.68% as against Sensex's 6.42% rise.

According to reports, Mumbai city's civic body recommended a draft development plan to raise the floor space index (FSI) in the island city to 2 from current 1.33. In Mumbai's suburbs, FSI will be hiked to 2 from 1. For construction of five-star hotels and commercial development, FSI will go up to 5 from the present 3 to 3.5. For markets and other public amenities, FSI is proposed to be raised to 4, reports suggested.

FSI is the ratio of a building's total floor area to the size of the land upon which it is built and indicates how much a developer can construct on a particular plot of land. Reports suggested that higher FSI will allow builders to construct more offices and apartments, which will boost sales and drive profitability.

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Dabur India pares intraday losses after good Q4 earnings

Apr 28 2016 6:01PM

On BSE, so far 3 lakh shares were traded in the counter as against average daily volume of 50,685 shares in the past one quarter. The stock was volatile. The stock lost as much as 3.47% at the day's low of Rs 262.80 so far during the day. The stock rose as much as 1.01% at the day's high of Rs 275 so far during the day. The stock had hit a 52-week low of Rs 231.30 on 27 January 2016. The stock had hit a record high of Rs 316.50 on 6 August 2015.

The large-cap company has equity capital of Rs 176.09 crore. Face value per share is Rs 1.

Dabur India said that it has reported good growth across its key categories like oral care, home care, foods and hair oils in Q4 March 2016 in a challenging macro environment and amid softening consumer demand. The company's Chief Executive Officer Sunil Duggal said that going forward, the company will leverage its strong herbal heritage and product portfolio to take advantage of the growing consumer preference for natural and ayurvedic products.

Dabur India is one of the largest FMCG companies in India. The company operates in key consumer products categories like hair care, oral care, health care, skin care, home care & foods.

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Outcome of board meeting of Arihant Superstructures

May 2 2016 1:14PM

Arihant Superstructures announced that the Board of Directors of the Company at its meeting held on 30 April 2016.inter alia, has transacted the follows :

1. Noted the Omnibus approval granted by Audit Committee for all proposed realty part transaction for the financial year 2016-17.

2. The Board recommended a Final Dividend of Re. 0.90/- for the Financial Year 2015-16.

3. The Board re-appointment M/s MPK & Associates , Chartered Accountants as the Internal Auditors for Financial Year 2016-17.

4. Approved the remuneration payable to Nimish Shah for year 2016-17,as recommended by the Nomination & Remuneration Committee.

5. The Board granted its approval for dis-investment of 30% of the existing shareholding in the Shares in Arihant Technoinfra, associate Company.

6. The Board approved to undertake the matter of conducting Postal Ballot in the matter of amalgamation of Adeshwat Realty with Arihant Superstructures and the calendar of events and scrutinizer for the same.

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TCS deploys TCS BaNCS in two largest banks in Myanmar

May 2 2016 1:13PM

Tata Consultancy Services announced that the two largest banks in Myanmar, KBZSC and AYA Trust were able to participate in the historic opening of the Yangoon Stock Exchange (YSX) with two parallel deployment of the TCS BaNCS for Securities Trading and Settlement. The two banks cumulatively process about 80 per cent of the country's total equity transactions.

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Ashok Leyland announces sales figures

May 2 2016 1:13PM

Ashok Leyland announced its sales figures for month of April 2016.Total sales stood at 10180 units in April 2016 compared to 8435 units in April 2015, recording a growth of 21%. These included sales of M&HCV at 7871 units and sales of LCV at 2309 units.

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Board of SNL Bearings recommends final dividend

Apr 29 2016 6:19PM

SNL Bearings announced that the Board of Directors of the Company at its meeting held on 29 April 2016, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Board of State Bank of Bikaner and Jaipur recommends final dividend

Apr 29 2016 6:18PM

State Bank of Bikaner and Jaipur announced that the Board of Directors of the Company at its meeting held on 29 April 2016, inter alia, have recommended the final dividend of Rs 14.3 per equity Share (i.e. 143%) , subject to the approval of the shareholders.

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Lupin re-introduces Methergine® Oral Tablets

Apr 28 2016 5:59PM

Lupin and its US subsidiary, Lupin Pharmaceuticals, Inc. (collectively Lupin) have announced the re-introduction of Methergine® (methylergonovine maleate) Oral Tablets 0.2mg for the prevention and management of postpartum hemorrhage (PPH).

Methergine® is the only FDA-approved oral uterotonic and is a preferred oral agent in the management of PPH, according to guidelines issued by the American Congress of Obstetricians and Gynecologists (ACOG). More than half of all maternal deaths occur within 24 hours of birth, most commonly from excessive bleeding, and rates of maternal morality continue to rise in the US where PPH is a leading cause of pregnancy complication.

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IndusInd Bank allots equity shares

Apr 28 2016 5:59PM

IndusInd Bank has allotted 20,780 (Twenty Thousand Seven Hundred Eighty) equity shares of Rs. 10/- (Rupees Ten Only) each on 27 April 2016 to those grantees who had exercised their option under the Company's employee Stock Option Scheme.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

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KDDL provides update on Ethos

Apr 28 2016 5:58PM

KDDL announced that Ethos, a subsidiary of Company, has started its' two stores at Noida at the DLF mall of India on 14 April 2016 at the following addresses:-

1. Tag Boutique (Tag Heuer)
(Carpet area - 509 sq ft, Super 1018 sq ft.)

2. Ethos
(Carpet 429 sq ft, Super 858 sq ft.)

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JPMorgan MF Announces Resignation of Key Personnel(s) and appointment of Compliance Officer

May 2 2016 1:14PM

JPMorgan Mutual Fund has announced that Karan Sikka, Associate Fund Manager – Equity ceases to be key personnel of the AMC, with effect from 29 April 2016.

Accordingly, Harshad Patwardhan will replace Karan Sikka for JPMorgan India Equity Income Fund & JPMorgan India Balanced Advantage Fund and Amit Gadgil for JPMorgan India Tax Advantage Fund & JPMorgan India Economic Resurgence Fund.

Yash Kumar, Head of Compliance and Monitoring is ceases to be key personnel of the AMC, with effect from 02 May 2016.

Further, Jahzeel Master has been appointed as Compliance Officer of the AMC, with effect from 03 May 2016.

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DHFL Pramerica MF Announces Extension of Maturity Under its schemes

Apr 29 2016 6:20PM

DHFL Pramerica Mutual Fund has decided to extend the maturity of the following schemes in accordance with regulation 33(4) of SEBI (Mutual Funds) Regulations:

DHFL Pramerica Hybrid Fixed Term Fund – Series 11:

Existing Maturity Date: 09 May 2016

Period of Extension: 39 Months

Extended Maturity Date: 09 August 2019

DHFL Pramerica Hybrid Fixed Term Fund – Series 12:

Existing Maturity Date: 23 May 2016

Period of Extension: 39 Months

Extended Maturity Date: 23 August 2019

DHFL Pramerica Hybrid Fixed Term Fund – Series 14:

Existing Maturity Date: 30 June 2016

Period of Extension: 370 Days

Extended Maturity Date: 05 July 2017

DHFL Pramerica Fixed Maturity Plan – Series 66:

Existing Maturity Date: 09 May 2016

Period of Extension: 370 Days

Extended Maturity Date: 14 May 2017

DHFL Pramerica Fixed Maturity Plan – Series 68:

Existing Maturity Date: 16 May 2016

Period of Extension: 370 Days

Extended Maturity Date: 21 May 2017

DHFL Pramerica Fixed Maturity Plan – Series 69:

Existing Maturity Date: 23 May 2016

Period of Extension: 370 Days

Extended Maturity Date: 28 May 2017

DHFL Pramerica Fixed Maturity Plan – Series 70:

Existing Maturity Date: 15 June 2016

Period of Extension: 370 Days

Extended Maturity Date: 20 June 2017

DHFL Pramerica Fixed Maturity Plan – Series 71:

Existing Maturity Date: 27 June 2016

Period of Extension: 370 Days

Extended Maturity Date: 02 July 2017

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Reliance MF Announces Rollover of Reliance Fixed Horizon Fund – XXV Series 15

Apr 28 2016 5:57PM

Reliance Mutual Fund has announced roll over of Reliance Fixed Horizon Fund-XXV-Series 15. The scheme was launched on 14 January 2014. The units of the scheme were allotted on 28 March 2013. The scheme is scheduled to mature on 03 May 2016. Pursuant to clause 33(4) of SEBI Regulations, 1996, the management has decided to rollover / extend the maturity of the scheme for 771 days. Subsequent to the rollover, the scheme shall mature on 13 June 2018.

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ICICI Prudential Fixed Maturity Plan – Series 79 – 1218 Days Plan A Floats On

Apr 28 2016 5:56PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 79 – 1218 Days Plan A, a close ended debt scheme. The tenure of the scheme is 1218 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 28 April to 29 April 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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HDFC FMP 730D April 2014 (1) Announces Rollover

Apr 26 2016 12:38PM

HDFC Mutual Fund has announced rollover of HDFC FMP 730D April 2014 (1), a plan under HDFC Fixed Maturity Plans-Series 31, a close ended income scheme.

The features of the proposed rollover are as follows:

The existing maturity date: 11 May 2016

Date of rollover: 12 May 2016

Period of rollover: 370 days

Extended maturity date: 16 May 2017

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Mutual funds continue buying

Apr 26 2016 12:37PM

Mutual funds (MFs) bought stocks worth a net Rs 81.20 crore on 22 April 2016, compared with net inflow of Rs 199.70 crore on 21 April 2016. The net inflow of Rs 81.20 crore on 22 April 2016 was a result of gross purchases of Rs 1011.80 crore and gross sales of Rs 930.60 crore. On that day, the Sensex had lost 42.24 points or 0.16% to settle at 25,838.14, its lowest closing level since 18 April 2016.

Mutual funds have sold shares worth a net Rs 317.30 crore in this month so far (till 22 April 2016). They sold shares worth a net Rs 10198.10 crore last month.

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HDFC Fixed Maturity Plan 1153D April 2016 (1) Floats On

Apr 22 2016 4:42PM

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1153D April 2016 (1), a plan under HDFC Fixed Maturity Plans – Series 36 (a close-ended income scheme). The tenure of the scheme is 1153 days from the date of allotment of units. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 25 April to 28 April 2016.

The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan.

The plan shall offer three options – growth, dividend and flexi option.

The plan would invest 80%-100% of assets in debt instruments & government securities with medium risk profile and invest upto 20% of assets in money market instruments 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 not applicable for the plan.

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

The fund managers of the scheme are Anil Bamboli & Rakesh Vyas (Dedicated fund manager for overseas investments)

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Reliance Fixed Horizon Fund – XXX – Series 19 Floats On

Apr 22 2016 4:38PM

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXX – Series 19, a close ended income scheme with the duration of 1127 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 22 April to 25 April 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 20% of its assets in money market instruments with low risk profile and invest 80%-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 Composite Bond Fund Index.

The fund manager of the scheme will be Amit Tripathi.

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Crude oil dips on rising OPEC crude production

May 2 2016 1:03PM

Crude oil prices fell by 0.30 per cent on Monday as rising production in the Middle East outweighed a decline in US output and a recent slide in the dollar, which has been supporting crude. The rising output from the Organization of the Petroleum Exporting Countries (OPEC) was outweighing supportive factors such as a decline in US output.

At the MCX, crude oil futures for May 2016 contract were trading at Rs. 3,026 per barrel, down by 0.30 per cent, after opening at Rs. 3,035 against the previous closing price of Rs. 3,035. It touched the intra-day low of Rs. 3,021 till the trading. (At 12.15 PM today).

Pieces also dropped as business surveys set a mixed tone and with markets in China shut for a holiday. China April CFLP manuacturing index came in at 50.1, below expectations. The CFLP service PMI eased to 53.5 from 53.8.

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Gold gains as investors weigh China data

May 2 2016 1:02PM

Gold prices gained 0.09 per cent on Monday as investors noted manufacturing data out of China at the weekend and looked ahead to a private estimate tomorrow. On Tuesday, comes the closely-watched Caixin manufacturing PMI for April, which last came in at 49.7. Markets in China are shut on Monday for a holiday. China April CFLP manuacturing index came in at 50.1, below expectations. The CFLP service PMI eased to 53.5 from 53.8.

At the MCX, Gold futures for June 2016 contract is trading at Rs 30,294 per 10 gram, up by 0.09 per cent after opening at Rs 30,300, against the previous closing price of Rs 30,266. It touched the intra-day high of Rs 30,360. (At 12.40 PM today).

However, 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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Lead surges 1.97 pct on strong global cues

Apr 29 2016 6:16PM

Lead prices rose by 1.97 per cent on Friday at the domestic markets due to high demand from battery-makers and other consuming industries at the domestic spot market as well as a strong trend at the global market. At the MCX, Lead futures, for the April 2016 contract, is trading at Rs 119.10 per kg, up by 1.97 per cent, after opening at Rs 117.40, against a previous close of Rs 116.80. It touched an intra-day high of Rs 119.10 till the trading. (At 3.30 PM today). However, gains were limited due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 75 metric tonnes to 175025 metric tonnes as on April 29, 2016.

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Drop in stocks lift Zinc futures by 1.58 pct

Apr 29 2016 6:15PM

Zinc futures rose by 1.58 per cent to Rs 128.65 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 2525 metric tonnes to 404275 metric tonnes as on April 29, 2016. Zinc futures for April 2016 contract, at MCX, were trading at Rs 128.65 per kg, up by 1.58 per cent after opening at Rs. 127.90 against the previous closing price of Rs. 126.65. It touched the intra-day high of Rs. 128.85 till the trading. (At 4.20 PM today). Prices also rose as speculators raised positions in the midst of a strong trend globally. Besides, high demand in domestic spot markets fueled the uptrend. 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 gains on strong euro area GDP

Apr 29 2016 6:13PM

Copper prices rose by 2.33 per cent on Friday after gross domestic product in the euro zone rose more-than-expected in the last quarter signaling improving sentiment in the region which raised the demand outlook for the metal. In a report, Eurostat said that GDP rose to a seasonally adjusted 0.6 per cent, from 0.3 per cent in the preceding quarter. Analysts had expected GDP to rise 0.4 per cent in the last quarter. At the MCX, copper futures for April 2016 contract were trading at Rs.333.20 per 1 kg, up by 2.33 per cent, after opening at Rs. 327.60 against the previous closing price of Rs. 325.60. It touched the intra-day high of Rs. 333.40 till the trading. (At 4.55 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 1225 metric tonnes to 149470 metric tonnes.

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Zinc slides marginally on weak demand

Apr 28 2016 5:55PM

Zinc prices fell by 0.04 per cent on Thursday as speculators reduced positions in the midst of a weak trend globally. Besides, low demand in domestic spot markets fueled the downtrend. Zinc futures for April 2016 contract, at MCX, were trading at Rs 125 per kg, down by 0.04 per cent after opening at Rs. 124.90 against the previous closing price of Rs. 125.05. It touched the intra-day low of Rs.124.40 till the trading. (At 4.12 PM today).

However, losses were limited 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 1175 metric tonnes to 406800 metric tonnes as on April 28, 2016.

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 drops 0.70 pct on demand concerns

Apr 28 2016 5:53PM

Copper prices fell by 0.70 per cent on Thursday as optimism over improving industrial demand for the metal started to wane. Traders doubt the sustainability of copper’s recent gains, pointing to signs that the Chinese economy is still suffering from weaker growth. At the MCX, copper futures for April 2016 contract were trading at Rs.324 per 1 kg, down by 0.70 per cent, after opening at Rs. 325.45 against the previous closing price of Rs. 326.30. It touched the intra-day low of Rs. 323.30 till the trading. (At 4.40 PM today).

However, losses were limited 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 1475 metric tonnes to 150725 metric tonnes as on April 28, 2016.

 

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Demand for package for steel sector referred to FinMin

Apr 27 2016 4:36PM

Demand for a comprehensive package for helping the domestic steel industry has been referred to the Department of Financial Services, Union Minister Vishnu Deo Sai said as per the media report.

However, the government is not preparing any bail-out package for the steel industry, which is going through a severe downturn, the Minister of State for Steel and Mines told Rajya Sabha in a written reply.

"Government is not preparing a bail-out for the steel sector. However, representations received from Indian Chamber of Commerce and India Steel Association to consider working out a suitable comprehensive package have been sent to the Department of Financial Services," he added.

Stating that the domestic industry is going through a "severe downturn", the minister said globally demand slowdown and overcapacity has led to historically low international steel prices and surge in cheap imports in India, which has resulted in decline of domestic steel prices.

"Lower prices have led to erosion of profit margins and lower sales realisations," Sai said.

To alleviate the problems being faced by the domestic steel firms, the government has taken several measures.

For reducing stress in the steel sector, the Reserve Bank has extended the 5/25 scheme in July 2015, whereby longer amortisation period for loans to projects in infrastructure and core industries sector has been allowed, he added.

Government also increased the peak rate of basic customs duty on flat and non-flat steel to 15 per cent from 10 per cent, Sai said.

It has also imposed several counter measures such as minimum import price, safeguard duty, anti dumping duty to check cheap imports.

 

 

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Mid-Session: Sensex surges 130 pts on value buying, firm global cues

May 3 2016 1:51PM

 The Indian benchmark indices stayed on firm footing, holding early gains, amid value-buying by investors in select bluechips stocks such as Bharti Airtel, Vedanta, ICICI Bank, L&T Finance Holdings, State Bank of India and Tata Power. The focus will be on the Adani Ports and Adani Power, which rose over 3 per cent on bourses, as they will reveal their quarterly earnings data later in the day.

At 12:22 PM, the BSE SENSEX was trading at 25570.64, up by 133.67 points or by 0.53 per cent, and the NSE Nifty was at 7850.05, up by 44.15 points or by 0.57 per cent.

In the bullish trade so far, the BSE Sensex touched intraday high of 25705.96 and intraday low of 25477.84, while the NSE Nifty touched intraday high of 7890.25 and intraday low of 7820.95.

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 240.85,+3.08%), Bharti Airtel Ltd. (Rs. 368.20,+2.89%), Asian Paints Ltd. (Rs. 885.00,+2.58%), Tata Motors Ltd. (Rs. 417.65,+2.54%), Larsen & Toubro Ltd. (Rs. 1276.50,+2.28%), among others.

Meanwhile, Lupin Ltd. (Rs. 1597.40,-1.21%), Sun Pharmaceutical Industries Ltd. (Rs. 802.45,-1.11%), Dr. Reddy's Laboratories Ltd. (Rs. 2982.00,-1.00%), Coal India Ltd. (Rs. 286.10,-0.90%), Hindustan Unilever Ltd. (Rs. 857.00,-0.85%), among others top losers on BSE.

On the sectoral front, realty and capital goods stocks were leading the gain, adding 1.65 per cent and 1.46 per cent respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2570, shares advanced were 1561 while 846 shares declined and 163 were unchanged.

On the global front, the Asian stocks were trading mixed with markets in Japan were shut, Shanghai Composite rose by over 1.5 per cent but Hang Seng fell by more than 1 per cent as traders reacted to China factory data which showed that manufacturing shrank at a faster pace in April with the PMI standing at 49.4.

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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]