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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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South Indian Bank Ltd eases for fifth straight session

Nov 16 2018 2:38PM

South Indian Bank Ltd dropped for a fifth straight session today. The stock is quoting at 14.5, down 1.02% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.66% on the day, quoting at 10686.85. The Sensex is at 35506.97, up 0.7%.South Indian Bank Ltd has eased around 2.36% in last one month.Meanwhile, Nifty Private Bank index of which South Indian Bank Ltd is a constituent, has increased around 4.14% in last one month and is currently quoting at 14852.2, up 0.14% on the day. The volume in the stock stood at 105.01 lakh shares today, compared to the daily average of 189.59 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 14.55, down 1.02% on the day. South Indian Bank Ltd tumbled 52.54% in last one year as compared to a 3.92% rally in NIFTY and a 5.4% spurt in the Nifty Private Bank index..

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Central Bank of India drops for fifth straight session

Nov 16 2018 2:37PM


Central Bank of India fell for a fifth straight session today. The stock is quoting at 30.5, down 0.16% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.66% on the day, quoting at 10686.85. The Sensex is at 35506.97, up 0.7%.Central Bank of India has eased around 1.61% in last one month.Meanwhile, Nifty PSU Bank index of which Central Bank of India is a constituent, has increased around 10.7% in last one month and is currently quoting at 2942.65, up 1.02% on the day. The volume in the stock stood at 1.68 lakh shares today, compared to the daily average of 6.75 lakh shares in last one month

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Volumes jump at Bajaj Holdings & Investment Ltd counter

Nov 16 2018 2:36PM

Future Lifestyle Fashions Ltd, Take Solutions Ltd, Rajesh Exports Ltd, Ajanta Pharma Ltd are among the other stocks to see a surge in volumes on NSE today, 16 November 2018.
Bajaj Holdings & Investment Ltd witnessed volume of 3.68 lakh shares by 14:14 IST on NSE, a 41.51 times surge over two-week average daily volume of 8868 shares. The stock increased 6.91% to Rs.3,158.75. Volumes stood at 8054 shares in the last session.
Future Lifestyle Fashions Ltd recorded volume of 1.14 lakh shares by 14:14 IST on NSE, a 10.32 times surge over two-week average daily volume of 11083 shares. The stock lost 2.83% to Rs.377.90. Volumes stood at 22198 shares in the last session.
Take Solutions Ltd clocked volume of 14.4 lakh shares by 14:14 IST on NSE, a 6.47 times surge over two-week average daily volume of 2.23 lakh shares. The stock lost 12.38% to Rs.136.25. Volumes stood at 3.09 lakh shares in the last session.
Rajesh Exports Ltd registered volume of 12.87 lakh shares by 14:14 IST on NSE, a 6.41 fold spurt over two-week average daily volume of 2.01 lakh shares. The stock rose 1.35% to Rs.567.60. Volumes stood at 1.35 lakh shares in the last session.
Ajanta Pharma Ltd saw volume of 9.64 lakh shares by 14:14 IST on NSE, a 5.75 fold spurt over two-week average daily volume of 1.68 lakh shares. The stock increased 4.68% to Rs.1,134.40. Volumes stood at 1.63 lakh shares in the last session.

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LEEL Electricals Ltd leads losers in 'B' group

Nov 15 2018 10:23PM


Star Paper Mills Ltd, Nahar Industrial Enterprises Ltd, Nila Infrastructures Ltd and CMI Ltd are among the other losers in the BSE's 'B' group today, 15 November 2018.
LEEL Electricals Ltd tumbled 12.61% to Rs 67.2 at 14:33 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 62768 shares were traded on the counter so far as against the average daily volumes of 29390 shares in the past one month.
Star Paper Mills Ltd crashed 11.24% to Rs 158.4. The stock was the second biggest loser in 'B' group.On the BSE, 38994 shares were traded on the counter so far as against the average daily volumes of 10915 shares in the past one month.
Nahar Industrial Enterprises Ltd lost 11.18% to Rs 60. The stock was the third biggest loser in 'B' group.On the BSE, 25990 shares were traded on the counter so far as against the average daily volumes of 7102 shares in the past one month.
Nila Infrastructures Ltd fell 10.35% to Rs 8.75. The stock was the fourth biggest loser in 'B' group.On the BSE, 1.21 lakh shares were traded on the counter so far as against the average daily volumes of 3.43 lakh shares in the past one month.
CMI Ltd slipped 10.04% to Rs 133. The stock was the fifth biggest loser in 'B' group.On the BSE, 3481 shares were traded on the counter so far as against the average daily volumes of 5138 shares in the past one month.

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Lupin gains after FDA approval for Decitabine

Nov 15 2018 10:21PM

On the BSE, 46,000 shares were traded in the counter so far compared with average daily volumes of 77,000 shares in the past two weeks. The stock had hit a high of Rs 854.55 and a low of Rs 836 so far during the day.
Lupin announced that it has received approval for its Decitabine for Injection, 50 mg/vial, Single-Dose Vial from the United States Food and Drug Administration (FDA) to market a generic version of Otsuka Pharmaceutical Co. Ltd.'s (Otsuka) Dacogen for Injection, 50 mg/vial, Single-Dose Vial.
Lupin's Decitabine for Injection , 50 mg/vial, Single-Dose Vial is the generic version of Otsuka's Dacogen for Injection, 50 mg/vial, Single-Dose Vial. It is indicated for the treatment of patients with myelodysplastic syndromes (MDS) including previously treated and untreated, de novo and secondary MDS of all French-American-British subtypes (refractory anemia, refractory anemia with ringed sideroblasts, refractory anemia with excess blasts, refractory anemia with excess blasts in transformation, and chronic myelomonocytic leukemia) and intermediate-1, intermediate-2, and high-risk International Prognostic Scoring System groups.
Decitabine for Injection, 50 mg/vial, Single-Dose Vial had annual sales of approximately USD 135.9 million in the US (IQVIA MAT September 2018).
Lupin's consolidated net profit fell 41.24% to Rs 268.45 crore on 3.78% rise in total income to Rs 4182.09 crore in Q2 September 2018 over Q2 September 2017.
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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Vodafone Idea Ltd leads losers in 'A' group

Nov 15 2018 10:21PM


PC Jeweller Ltd, Grasim Industries Ltd, NBCC (India) Ltd and Page Industries Ltd are among the other losers in the BSE's 'A' group today, 15 November 2018.
Vodafone Idea Ltd tumbled 11.82% to Rs 36.55 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 29.87 lakh shares were traded on the counter so far as against the average daily volumes of 10.34 lakh shares in the past one month.
PC Jeweller Ltd crashed 9.59% to Rs 78.25. The stock was the second biggest loser in 'A' group.On the BSE, 45.04 lakh shares were traded on the counter so far as against the average daily volumes of 35.5 lakh shares in the past one month.
Grasim Industries Ltd lost 8.48% to Rs 802.6. The stock was the third biggest loser in 'A' group.On the BSE, 2.14 lakh shares were traded on the counter so far as against the average daily volumes of 2.45 lakh shares in the past one month.
NBCC (India) Ltd fell 8.01% to Rs 60.3. The stock was the fourth biggest loser in 'A' group.On the BSE, 13.32 lakh shares were traded on the counter so far as against the average daily volumes of 8.45 lakh shares in the past one month.
Page Industries Ltd pared 7.33% to Rs 25805.05. The stock was the fifth biggest loser in 'A' group.On the BSE, 11230 shares were traded on the counter so far as against the average daily volumes of 1266 shares in the past one month.

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Colgate-Palmolive (India) Ltd gains for third straight session

Nov 15 2018 1:35PM

Colgate-Palmolive (India) Ltd gained for a third straight session today. The stock is quoting at Rs 1126.6, up 1.34% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.31% on the day, quoting at 10609.1. The Sensex is at 35255.94, up 0.32%. Colgate-Palmolive (India) Ltd has gained around 2.5% in last one month.
Meanwhile, Nifty FMCG index of which Colgate-Palmolive (India) Ltd is a constituent, has gained around 2.02% in last one month and is currently quoting at 29047.9, up 0.09% on the day. The volume in the stock stood at 2.57 lakh shares today, compared to the daily average of 4.44 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 1133, up 1.49% on the day. Colgate-Palmolive (India) Ltd is up 8.5% in last one year as compared to a 3.86% jump in NIFTY and a 13.82% jump in the Nifty FMCG index.

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D B Corp Ltd gains for third straight session

Nov 15 2018 1:34PM


D B Corp Ltd is up for a third straight session today. The stock is quoting at Rs 178.45, up 2.21% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.31% on the day, quoting at 10609.1. The Sensex is at 35255.94, up 0.32%. D B Corp Ltd has slipped around 5.86% in last one month.
Meanwhile, Nifty Media index of which D B Corp Ltd is a constituent, has slipped around 7.24% in last one month and is currently quoting at 2419.95, down 0.07% on the day. The volume in the stock stood at 60354 shares today, compared to the daily average of 66713 shares in last one month.

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Wipro Gallagher Solutions Launches NetOxygen Saas for Loan Origination

May 21 2018 8:27PM

Wipro Gallagher Solutions, a Wipro company announced the launch of its NetOxygen Saas loan origination solution for mortgage lenders.
NetOxygen Saas brings the power of NetOxygen, an enterprise class loan origination system that helps lenders reduce origination costs and boost production efficiency through automation. NetOxygen connects to a front end portal and fintech offerings thus providing seamless interactions to improve borrower experience. NetOxygen Saas enables quicker deployment and scalability to match business growth with an all-inclusive, per transaction pricing, which is based on business outcomes.
NetOxygen Saas provides comprehensive product coverage across mortgage, home equity, HELOC (home equity line of credit) and unsecured credit lines origination. The platform integrates an extensive vendor ecosystem which provides multiple options for standard services like credit, appraisals, fraud checks, etc. NetOxygen Saas supports retail, correspondent and wholesale markets, and also enables niche offerings like construction lending for one close, multiple close, homestyle renovation and FHA construction.

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Phoenix Mills allots 10,000 equity shares

Apr 25 2018 12:58PM

Phoenix Mills has allotted 10,000 equity shares of Rs. 2/- each fully paid-up at an exercise price of Rs. 333.90/- per share to the grantees upon exercise of stock options pursuant to The Phoenix Mills Employees Stock Option Plan 2007.
Consequent upon allotment of the above shares, the equity share capital of the Company stand increased from present level of 15,31,70,351 (Nos.) to 15,31,80,351 (Nos.) equity shares of Rs. 2/- each.

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Lupin receives final approval for Tetrabenazine Tablets

Apr 23 2018 2:12PM

Lupin announced that it has received final approval for its Tetrabenazine Tablets, 125 mg and 25 mg from the United States Food and Drug Administration (FDA) to market a generic version of Valeant pharmaceuticals North America, LLC's Xenazine® Tablets, 12.5 mg and 25 mg.
Lupin's Tetrabenazine Tablets, 12.5 mg and 25 mg are the generic equivalent of Va Ie ant Pharmaceuticals North America, LLC's Xenazine® Tablets, 12.5 mg and 25 mg. It is indicated for the treatment of chorea associated with Huntington's disease.
Tetrabenazine Tablets, 125 mg and 25 mg had annual sales of approximately USD 288.1 million in the US (IQVIA MAT Jan 2018).


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Board of Axis Bank commences succession process

Apr 20 2018 10:56PM

The Board of Axis Bank has commenced the succession process to appoint a new Managing Director & CEO of the Bank. The Board has appointed Egon Zehnder, a global leadership advisory firm, to conduct the succession process and evaluate candidates for the said post. The Board will ensure that the said process will be completed before the end of Shikha Sharma's tenure and thus facilitate smooth transition of leadership responsibilities at the Bank.

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Electrosteel Steels update on resolution plan

Apr 20 2018 10:55PM


Electrosteel Steels announced that as per the resolution plan which was submitted by Vedanta for acquisition of the Company under the provisions of the Insolvency and Bankruptcy Code, 2016, and which was approved by the National Company Law Tribunal (Kolkata Bench) (NCLT) pursuant to its order dated 17 April 2018 (Resolution Plan), on and from the date of approval of the Resolution Plan by the NCLT (i.e. 17 April 2018) until the date on which Vedanta acquires control of the Company as per terms of the Resolution Plan, the Company is required to be monitored by an Independent Managing Authority (IMA) under the instructions, control and management of a Steering Committee.
The Steering Committee has been constituted as per the terms of the Resolution Plan and comprises of majority nominees representing the financial creditors of the Company and minority nominees from Vedanta.
In addition to the above, PricewaterhouseCoopers Private Limited has also been appointed as the IMA by the Steering Committee.
In view of the above, the erstwhile Resolution Professional (i.e. Mr. Dhaivat Anjaria) has handed over the management of affairs of the Company to the IMA, which is acting under the supervision and instructions of the Steering Committee.

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Board of Visco Trade Associates approves change in directorate

Apr 18 2018 10:47PM


Visco Trade Associates announced that the Board of Directors of the company at its meeting held on 18 April 2018 has approved the matter relating for the resignation of Debasish Roy –Director (DIN- 00661173) and appointment of Dipak Sundarka- Additional Independent Director (DIN-05297111) of the Company for the period of 5 years w.e.f 18 April 2018 interalia to consider, approved and take on record.

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Board of Mindtree approves change in directorate

Apr 18 2018 10:47PM

The Board of Mindtree has approved and recommended the appointment of Bijou Kurien, as Independent director of the Company for a term of three years from 17 July 2018. The Board accepted the resignation of Manisha Girotra, Independent Director, due to pre-occupation, with immediate effect.

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BOI AXA Midcap Tax Fund – Series 1 Announces Dividend

Dec 4 2017 6:11PM

BOI AXA Mutual Fund has launched a new fund named as BOI AXA Midcap Tax Fund – Series 1, a 10 year closed-ended equity linked savings scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 10 November 2017 to 09 February 2018.The scheme seeks to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related securities of midcap companies along with income tax benefit.The scheme offers growth and dividend options under both regular plan and direct plan. Dividend option has dividend payout facility.The scheme shall invest 65%-100% of assets in madcap equity & equity related securities such as cumulative convertible preference shares and fully convertible debentures and bonds of companies etc. and invest upto 35% of assets in other equity & equity related securities such as cumulative convertible preference shares and fully convertible debentures and bonds of companies etc. with high risk profile and invest upto 35% of assets in debt & money market instruments with low to medium risk profile.Minimum application amount is Rs 500 and in multiples of Rs 500 thereafter.Entry load & entry load: NilBenchmark Index for the scheme is Nifty Midcap 100 Index.The fund manager of the scheme is Alok Singh


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ICICI Prudential Capital Protection Oriented Fund – Series XIV – Plan A 1275 Days Floats On

Nov 15 2018 10:28PM


ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Capital Protection Oriented Fund – Series XIV – Plan A 1275 Days, a close ended capital protection oriented scheme. The tenure of the scheme is 1275 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 16 November 2018 to 29 November 2018.
The investment objective of the Scheme is to seek to protect capital by investing a portion of the portfolio in highest rated debt securities & money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The debt securities would mature on or before the maturity of the Scheme.
Presently, two options are available under the scheme viz. Cumulative Option and Dividend Option with only Dividend Payout facility.
The scheme will invest 100% - 65% of its assets in debt securities & money market instruments with low to medium risk profile and invest upto 35% of assets in equity & equity related securities with medium to high risk profile.
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.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index (85%) and Nifty 50 Index (15%).
The fund managers of the scheme are Rajat Chandak (Equity Portion), Rahul Goswami jointly with Chandni Gupta (Debt Portion) and Priyanka Khandelwal is the dedicated fund manager for managing overseas investments of the Schemes of the Fund which have a mandate to invest in overseas securities.

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UTI Fixed Term Income Fund – Series XXX – XII (1254 Days) Floats On

Nov 14 2018 1:39PM


UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXX – XII (1254 Days), a close ended debt scheme. The duration of the scheme is 1254 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 15 November to 16 November 2018.
The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.
The scheme offers growth option, quarterly dividend option with payout facility, flexi dividend option with payout facility, annual dividend option with payout facility and maturity dividend option with payout facility.
The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets would be allocated to money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
Sunil Patil is the fund manager for the scheme.

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SBI Debt Fund Series C – 29 (366 days) Floats On

Nov 14 2018 1:38PM

SBI Mutual Fund has unveiled a new fund named as SBI Debt Fund Series C – 29, a close ended debt scheme. The tenure of the scheme is 366 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 14 November to 19 November 2018.
The investment objective of the scheme is to endeavor to provide regular income and capital growth with limited interest rate risk to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market instruments maturing on or before the maturity of the scheme.
The scheme offers regular and direct plan. Both the plans will have growth option and dividend payout & transfer facility.
The scheme will invest upto 100% of assets in debt and money market securities 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.
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 is Ranjana Gupta.

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Aditya Birla Sun Life Fixed Term Plan – Series RQ (1103 days) Floats On

Nov 13 2018 1:04PM

Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life Fixed Term Plan – Series RQ (1103 days), a close ended income scheme. The tenure of the scheme is 1103 days from the date of allotment of units. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 15 November 2018 to 29 November 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility).
The scheme would invest 80% - 100% of assets in debt securities including government securities (excluding money market instruments) with low to medium risk profile and upto 20% of assets in money market instruments with low to medium risk profile.
The minimum application amount is Rs 1000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund manager of the scheme will be Mohit Sharma.

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Kotak FMP Series 251 Floats On

Nov 13 2018 1:03PM


Kotak Mahindra Mutual Fund has launched a new fund named as Kotak FMP Series 251, a close ended debt scheme with the duration of 1265 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 15 November to 19 November 2018.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
The scheme offers growth and dividend payout option.
The scheme shall invest 80% - 100% of assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. Investment in derivatives will be up to 50% of the net assets of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.
Entry load and exit load charge will be nil for the scheme.
The scheme performance will be benchmarked against CRISIL Composite Bond Fund Index.
Deepak Agarwal is the fund manager of the scheme.

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UTI Fixed Term Income Fund – Series XXX – XI (1246 Days) Floats On

Nov 9 2018 11:13PM

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXX – XI (1246 Days), a close ended debt scheme. The duration of the scheme is 1246 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 12 November to 26 November 2018.
The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.
The scheme offers growth option, quarterly dividend option with payout facility, flexi dividend option with payout facility, annual dividend option with payout facility and maturity dividend option with payout facility.
The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets would be allocated to money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
Sunil Patil is the fund manager for the scheme.

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ICICI Prudential Overnight Fund Floats On

Nov 9 2018 11:12PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Overnight Fund, an open ended debt scheme investing in overnight securities. The new fund offer (NFO) price for the scheme is Rs 100 per unit. The new issue will be open for subscription from 14 November 2018 to 15 November 2018.
The investment objective of the scheme seeks to provide reasonable returns commensurate with low risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.
The scheme will have regular plan and direct plan each plan under the scheme will have the following options: growth option and dividend option with dividend payout and dividend reinvestment sub-options (with daily, weekly, fortnightly, monthly, quarterly, half-yearly and annual dividend frequencies).
The scheme would invest up to 100% of assets in overnight securities or debt instruments maturing on or before the next business day with low risk profile.
The minimum application amount is Rs 100/- (plus in multiples of Re. 1).
The minimum additional purchase amount is Re. 1/- (plus in multiples of Re. 1) .
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

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Aditya Birla Sun Life Fixed Term Plan – Series RN (1240 days) Floats On

Nov 1 2018 9:03PM

Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life Fixed Term Plan – Series RN (1240 days), a close ended income scheme. The tenure of the scheme is 1240 days from the date of allotment of units. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 05 November 2018 to 13 November 2018.
The investment objective of the scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility).
The scheme would invest 80% - 100% of assets in debt securities including government securities (excluding money market instruments) with low to medium risk profile and upto 20% of assets in money market instruments with low to medium risk profile.
The minimum application amount is Rs 1000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund manager of the scheme will be Mohit Sharma.

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MCX Gold Weakens On INR, Local Crude Slides 2%

Nov 15 2018 10:27PM

MCX Gold stayed under check today as the global Gold futures lingered around $1200 per ounce amid choppy moves. The Indian Rupee extended gains and hit a near two month high under 72 per US dollar levels as global crude oil prices fell to one year lows. However, continued selling in local equities capped the upside for the INR and it ended around 72.30 mark, adding modest gains for the day. MCX Gold is quoting at Rs 30689 per 10 grams, down 0.26% on the day as the drop under Rs 31K extended.
Meanwhile, the MCX Crude oil futures also pulled back after rising towards Rs 4100 per barrel levels. Oil dropped as another agency raised worries over the price outlook. MCX oil is currently down 2% at Rs 4022 per barrel. The International Energy Agency (IEA) stated in its latest monthly oil market report that the outlook for global oil demand growth is largely unchanged at 1.3 million barrels per day (mb/d) in 2018 and 1.4 mb/d in 2019, as a weaker economy is largely offset by lower oil prices.
The OECD demand is expected to increase by 355 thousand barrels per day (kb/d) in 2018, slowing to 285 kb/d in 2019. Oil demand is slowing in several non-OECD countries, as the impact of higher year-on-year prices is amplified by currency devaluations and slowing economic activity. The non-OECD demand forecast has been revised down by 165 kb/d for 2019.



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Oil Trying To Stabilize After Turmoil, MCX Futures Almost Test Rs 4K

Nov 15 2018 10:26PM

WTI Crude oil futures showed some signs of stability after falling to one year lows but weak economic cues capped upside for the commodity. Market is also cautious ahead of the release of the weekly EIA inventories data. WTI Crude currently trades at $56.22 per barrel, down marginally on the day. MCX Crude oil futures are trading at Rs 4049 per barrel, down around 1% on the day after falling very close to Rs 4000 per barrel mark.
Latest data from the European Automobile Manufacturers Association (ACEA) showed that new car registration in EU decreased by 7.3% year-on-year in October after a 23.5% slump in September. Registrations dropped for a second straight month. The main cause is still the introduction of the new WLTP emissions test on September 1, which resulted in an exceptional surge in registrations over the summer and consequently, demand for new cars fell in most EU countries last month, including the five major markets, the ACEA said.
In the main markets, car registrations decreased 7.4% in both Germany and Italy. On a cumulative basis, from January to October, the new car registrations rose 1.6% from a year ago. In other economic news, the UK retail sales volume including automotive fuel dropped 0.5% in October, from 0.4% fall in September, amid a sharp decrease in sales of household goods, preliminary data from the Office for National Statistics showed.

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MCX Gold Lingers In Red As INR Hits Two Month High

Nov 15 2018 10:26PM

COMEX Gold futures stayed supported today after recovering from one month low near $1200 per ounce levels. Media reports noted that China has outlined a series of potential concessions to the Trump administration to resolve trade issues. British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. Global stocks are trading in a mixed manner amid these cues and Gold futures are hovering at $1209 per ounce, up modestly on the day. However, MCX Gold futures are trading at Rs 30761 per 10 grams, down 0.20% on the day on continued gains in the Indian Rupee. The Indian Rupee stayed supported amid steady cues from local equities. The INR added nearly half a percent to end under the 72 per US dollar mark, hitting the highest levels in last two months.

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Jeera Futures Succumb To Hefty Selling, Test Five Week Low

Nov 15 2018 1:40PM

NCDEX Jeera futures fell near five week low amid sustained selling pressure as traders continued to book profits in the counter. The benchmark NCDEX futures had gained sharply in first week of November, hitting a contract high above Rs 21500 per quintal but have been in a corrective mode thereafter.
The futures fell under Rs 20000 per quintal levels and witnessed a sharp slide in early trading hours today. However, amid heavy volatility, some buying emerged in the counter and the futures currently trade at Rs 19830 per quintal, down 1% on the day. Jeera supplies have been holding up in the benchmark mandi at Unjha, averaging around 10000 bags per day after Diwali.
Supplies improved in response to the rising prices though the overall trend in arrivals is expected to be rather weak in coming days given the seasonal patterns. Spot Jeera soared near Rs 20500 per quintal this week – hitting its highest mark in nearly ten months before some moderation set in.
Prices are holding up above Rs 20000 per quintal levels but selling pressure in futures is bound to take an effect on sentiments.

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Pan American Silver and Tahoe Resources Create the World's Premier Silver Mining Company

Nov 15 2018 1:39PM


Pan American Silver Corp ("Pan American") and Tahoe Resources Inc ("Tahoe") announced that they have entered into a definitive agreement for Pan American to acquire all of the outstanding shares of Tahoe pursuant to a plan of arrangement, creating the world's premier silver mining company. Shareholders of Tahoe will be entitled to elect to receive common shares of Pan American and/or cash in exchange for their shares of Tahoe. Additional consideration will be in the form of the right to a contingent payment in common shares of Pan American tied to the restart of the Escobal mine in Guatemala.
The deal would end up into a world-class primary silver asset portfolio, diversified across the Americas. It will also create world's largest silver reserve base and silver measured and indicated resource base. It will be the largest publicly-traded silver mining company by free float. The entity would offer a robust growth profile with the restart of the Escobal silver mine following completion of the consultation process and community engagement. Escobal is a well built, turn-key operation with minimal capital outlay and development risk. The mine produced 21Moz of Ag at US$8.63/oz Ag AISC during its last four quarters of undisturbed production.
Additional upside is also seen through expansion of the La Colorada mine following the recent exploration discovery and potential development of Navidad, one of the world's largest undeveloped primary silver deposits. Commenting on the transaction, Michael Steinmann, President and Chief Executive Officer of Pan American Silver, stated that the combination of Pan American and Tahoe will establish the world's premier silver mining company with an industry-leading portfolio of assets, superior growth opportunities and attractive operating margins. 

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Coro Mining Confirms Presence of Copper Oxide Mineralization At Marimaca Project In Chile

Nov 14 2018 1:42PM

Coro Mining Corp provided an update for Company’s Marimaca project in the Antofagasta region of Chile. The first 28 of a planned 52 drill holes at La Atómica, the ground adjacent to the Marimaca 1-23 claim where a resource has already been established, have confirmed the presence of copper oxide mineralization, in addition to the presence of secondary enriched copper sulphide mineralization at depth.
Oxide copper mineralization at La Atómica has been proven to exist 300 metres beyond limits of the previous drill grid completed at Marimaca 1-23. Current knowledge is that the total horizontal extension of the outcropping copper oxide mineralization from Marimaca to La Atómica now reaches 800 metres in the north-west direction, with the opportunity for further extension.
Commenting on the news, Luis Tondo, CEO of Coro stated that Chile is the world’s primary source of mineable copper, however, new near surface discoveries are becoming harder to find and new projects harder to bring on stream. Since the company discovered Marimaca in 2016, the project continues to prove itself and has the potential to be one of the best new open-pittable copper oxide deposits discovered in Chile in recent times.

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China's Credit Growth Slows Sharply In October

Nov 14 2018 1:41PM

China's credit growth slowed sharply in October, indicating that the economy might be on a continued moderation path. While October is typically a slow month for Chinese credit, growth in key gauges such as total social financing and money supply fell to record lows. Chinese banks extended 697 billion yuan in net new yuan loans in October, latest central bank data showed. Corporate loans fell to 150.3 billion yuan in October from 677.2 billion yuan a month earlier while household loans, mostly mortgages also dropped to 563.6 billion yuan from 754.4 billion yuan in September. M1 money supply edged up by just 2.7% on-year, recording the weakest growth since January 2014 while total social financing grew 10.2% from a year earlier, falling to an all-time low.

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Brazil's South Central Region Sugar Output Down 27% In Last Seven Months

Nov 14 2018 1:40PM

Mills in Brazil's south-central region produced 957656 tonnes of sugar during the second fortnight of October, down 49.4% from 1.89 million tonnes produced in the year-ago period, the country's sugarcane industry association, known as UNICA, said in latest update report. Sugar season in Brazil, the top producer and exporter of the sweetener, runs from April to March, with mills in the centre-south region crushing cane till October. Mills in the region, which account for more than 90% of the country's total sugar output, crushed 24.86 million tonnes sugarcane during Oct 16-31, down 17.5% on year, the association said. The sharp fall in sugar production can be attributed to heavy rainfall in the key producing region in recent weeks, which delayed cane harvest, UNICA said. During Apr-Oct, mills in the region crushed 508.34 million tonnes cane, down 4.4% on year while the total Sugar production stood at 24.35 million tonnes, down around 27% on year.

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Post-Session:Sensex, Nifty advance on positive global cues

Nov 16 2018 8:04PM

The market settled with decent gains, boosted by a firmness in Reliance Industries, HDFC twins and telecom shares. Positive global cues, healthy macro-economic trade data along with a slight recovery in rupee supported gains in today's trade.
The Sensex rose 196.62 points or 0.56% to settle at 35,457.16, its highest closing level since 3 October 2018. The index rose 285.31 points, or 0.81% at the day's high of 35,545.85. The index rose 63.83 points, or 0.18% at the day's low of 35,324.37.
The Nifty 50 index rose 65.50 points or 0.62% to settle at 10,682.20, its highest closing level since 3 October 2018. The index rose 78.45 points, or 0.74% at the day's high of 10,695.15. The index rose 14.45 points, or 0.14% at the day's low of 10,631.15.
Broader market depicted weakness. Among secondary barometers, the BSE Mid-Cap index rose 0.04%. The BSE Small-Cap index fell 0.43%.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1130 shares rose and 1506 shares fell. A total of 148 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Teck index (up 1.07%) outperformed the Sensex. The S&P BSE Metal index (down 1.59%), the S&P BSE Oil & Gas index (down 0.5%), the S&P BSE Capital Goods index (down 0.09%) underperformed the Sensex.
Telecom shares surged. Vodafone Idea (up 16.42%), Bharti Airtel (up 9.81%), MTNL (up 1.39%), Reliance Communications (up 1.26%) and Tata Teleservices (Maharashtra) (up 0.89%), edged higher.
Telecom tower infrastructure provider Bharti Infratel rose 1.50%.
Reliance Industries market capitalisation rose to Rs 7.14 lakh crore, overtaking TCS' market cap of Rs 7.06 lakh crore, to become India's most valuable company.
Reliance Industries rose 2.79% at Rs 1127.50. TCS rose 0.90% at Rs 1,882.25.
HDFC rose 1.67% at Rs 1883.20. HDFC Bank rose 1.26% at Rs 1998.90.
Auto major Mahindra & Mahindra (M&M) rose 0.20%. The company announced during trading hours today, 16 November 2018, that effective 1st January 2019, it will increase the price of the Marazzo by Rs 30,000 – Rs 40,000. According to Veejay Ram Nakra, Chief of Sales and Marketing – Automotive Division, Mahindra & Mahindra, “As mentioned at the launch, the price of Marazzo was an introductory one. Effective January 1st 2019, we will be taking a price hike on the Marazzo, after a reasonable period of 4 months from its launch.”
Infosys fell 0.90%. The company announced that the board of directors at its meeting on 15 November 2018, appointed Jayesh Sanghrajka as the interim Chief Financial Officer (CFO) and Key Managerial Personnel of the Company with effect from 17 November 2018. The board is in the process of selecting the next CFO. The current CFO, M.D. Ranganath will step down on 16 November 2018. Jayesh Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance function. He is currently Executive Vice President and Deputy Chief Financial Officer at Infosys. Mr. Sanghrajka has over 20 years of experience and is a Chartered Accountant. The announcement was made after market hours yesterday, 15 November 2018.
Yes Bank fell 7.14%. The bank informed that Mr. O. P. Bhatt has tendered his resignation from his duties as an External Expert of the 'Search & Selection Committee' ('S&SC') with immediate effect citing that there may be a potential conflict of interest. The Nomination & Remuneration Committee ('NRC') of the Bank while accepting Mr. Bhatt's resignation has recognized his guidance and inputs during his association with the S&SC as an External Expert. The announcement was made after market hours yesterday, 15 November 2018.
On the economic front, India's exports rose by 17.86% to $26.98 billion in October mainly due to the low base effect even as trade deficit widened to $17.13 billion, according to the commerce ministry data. Imports during October also rose by 17.62% to $44.11 billion, leading to widening of trade deficit to $17.13 billion. The deficit widened despite a steep decline of 42.9% in gold imports to $1.68 billion during the month under review. The trade gap was $14.61 billion in October 2017.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.85, compared with its close of 71.975 during the previous trading session.
In global commodities markets, Brent crude oil futures edged higher. Brent for January 2019 settlement was up 89 cents at $67.51 a barrel.
Overseas, most European and Asian stocks edged higher Friday, as investors closely monitored ongoing political turmoil in the UK. Market focus is largely attuned to Brexit developments, amid heightened fears the country could soon crash out of the European Union without a divorce deal.
The UK was thrust into political turmoil on Thursday following a spate of resignations from Prime Minister Theresa May's government, including Brexit Secretary Dominic Raab, who said he could not accept the deal after the promises the ruling Conservative Party made to the country in an election manifesto last year.
US stocks snapped a multi-day skid, finishing higher on Thursday buoyed by renewed hopes the US and China can strike a compromise on trade. Cautious optimism took hold following a report that the US may back off from its belligerent stance against China on trade while solid economic data offset underwhelming earnings from Walmart Inc.
A media report suggested that the US and China may step up efforts to resolve their trade conflict, starting with postponing higher tariffs and allowing working level negotiators to iron out a deal.
On the US data front, first-time jobless claims for the week ending 10 November 2018 rose 2,000 to 216,000 in the week ended 10 November 2018. The Philly Fed index dropped 9.3 points to 12.9, a three-month low. The Empire State index rose 2.2 points to 23.3 in November.

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LME Inventory

Apr 12 2017 1:51PM

       COPPER: -850 MT

       ZINC: -1850 MT

       LEAD: -1025 MT

       NICKLE: -1194 MT

       ALUMINIUM: -13575 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]