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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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Sun TV Network Ltd slips for fifth straight session

Jul 16 2018 1:41PM

Sun TV Network Ltd dropped for a fifth straight session today. The stock is quoting at 757.05, down 3.65% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.29% on the day, quoting at 10987.1. The Sensex is at 36498.34, down 0.12%.Sun TV Network Ltd has lost around 14.27% in last one month.Meanwhile, Nifty Media index of which Sun TV Network Ltd is a constituent, has eased around 11.16% in last one month and is currently quoting at 2862.95, down 1.61% on the day. The volume in the stock stood at 7.77 lakh shares today, compared to the daily average of 17.69 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 758.8, down 3.43% on the day. Sun TV Network Ltd tumbled 9% in last one year as compared to a 10.8% rally in NIFTY and a 8.69% fall in the Nifty Media index.

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Aurobindo Pharma Ltd eases for fifth straight session

Jul 16 2018 1:41PM

Aurobindo Pharma Ltd fell for a fifth straight session today. The stock is quoting at 575.8, down 4.38% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.29% on the day, quoting at 10987.1. The Sensex is at 36498.34, down 0.12%.Aurobindo Pharma Ltd has eased around 6.2% in last one month.Meanwhile, Nifty Pharma index of which Aurobindo Pharma Ltd is a constituent, has eased around 4.89% in last one month and is currently quoting at 9164, down 3.27% on the day. The volume in the stock stood at 22.54 lakh shares today, compared to the daily average of 23.83 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 576.1, down 4.71% on the day. Aurobindo Pharma Ltd tumbled 23.39% in last one year as compared to a 10.8% rally in NIFTY and a 11.31% fall in the Nifty Pharma index.

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Syndicate Bank drops for fifth straight session

Jul 16 2018 1:40PM

Syndicate Bank fell for a fifth straight session today. The stock is quoting at 38.05, down 3.43% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.29% on the day, quoting at 10987.1. The Sensex is at 36498.34, down 0.12%.Syndicate Bank has eased around 21.79% in last one month.Meanwhile, Nifty PSU Bank index of which Syndicate Bank is a constituent, has eased around 10.03% in last one month and is currently quoting at 2765.15, down 1.68% on the day. The volume in the stock stood at 17.01 lakh shares today, compared to the daily average of 36.06 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 38.1, down 3.3% on the day. Syndicate Bank tumbled 50.87% in last one year as compared to a 10.8% rally in NIFTY and a 23% fall in the Nifty PSU Bank index.

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KPIT Technologies Ltd is up for a fifth straight session in a row

Jul 13 2018 1:18PM

KPIT Technologies Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 302.05, up 0.8% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.1% on the day, quoting at 11033.95. The Sensex is at 36623.18, up 0.2%. KPIT Technologies Ltd has risen around 7.72% in last one month.
Meanwhile, Nifty IT index of which KPIT Technologies Ltd is a constituent, has risen around 5.42% in last one month and is currently quoting at 14515.65, up 0.41% on the day. The volume in the stock stood at 20.16 lakh shares today, compared to the daily average of 16.17 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 297, up 0.37% on the day. KPIT Technologies Ltd is up 121.61% in last one year as compared to a 11.61% spurt in NIFTY and a 41.08% spurt in the Nifty IT index.
The PE of the stock is 33.64 based on TTM earnings ending March 18.

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Kotak Mahindra Bank Ltd is up for a third straight session today

Jul 13 2018 1:17PM

Kotak Mahindra Bank Ltd is up for a third straight session today. The stock is quoting at Rs 1410.25, up 1.47% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.1% on the day, quoting at 11034.15. The Sensex is at 36625.3, up 0.21%. Kotak Mahindra Bank Ltd has gained around 5.82% in last one month.
Meanwhile, Nifty Bank index of which Kotak Mahindra Bank Ltd is a constituent, has gained around 1.67% in last one month and is currently quoting at 27026.55, down 0.08% on the day. The volume in the stock stood at 7.74 lakh shares today, compared to the daily average of 16.18 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 1410.35, up 1.41% on the day. Kotak Mahindra Bank Ltd is up 44.32% in last one year as compared to a 11.61% jump in NIFTY and a 12.82% jump in the Nifty Bank index.
The PE of the stock is 65.52 based on TTM earnings ending March 18.

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D B Corp Ltd is up for a third straight session in a row

Jul 13 2018 1:17PM


D B Corp Ltd is up for a third straight session in a row. The stock is quoting at Rs 285, up 1.17% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.1% on the day, quoting at 11034.15. The Sensex is at 36625.3, up 0.21%. D B Corp Ltd has added around 8.47% in last one month.
Meanwhile, Nifty Media index of which D B Corp Ltd is a constituent, has added around 8.17% in last one month and is currently quoting at 2968.5, down 1.36% on the day. The volume in the stock stood at 3.26 lakh shares today, compared to the daily average of 1.56 lakh shares in last one month.
The PE of the stock is 15.99 based on TTM earnings ending March 18.

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Adani Power Ltd leads losers in 'A' group

Jul 12 2018 10:56PM


Delta Corp Ltd, Vakrangee Ltd, Radico Khaitan Ltd and Kwality Ltd are among the other losers in the BSE's 'A' group today, 12 July 2018.
Adani Power Ltd lost 5.88% to Rs 19.2 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 37.63 lakh shares were traded on the counter so far as against the average daily volumes of 16.53 lakh shares in the past one month.
Delta Corp Ltd tumbled 5.42% to Rs 229.35. The stock was the second biggest loser in 'A' group.On the BSE, 2.56 lakh shares were traded on the counter so far as against the average daily volumes of 4.18 lakh shares in the past one month.
Vakrangee Ltd crashed 4.54% to Rs 52.6. The stock was the third biggest loser in 'A' group.On the BSE, 15.67 lakh shares were traded on the counter so far as against the average daily volumes of 31.78 lakh shares in the past one month.
Radico Khaitan Ltd corrected 4.39% to Rs 369.3. The stock was the fourth biggest loser in 'A' group.On the BSE, 53566 shares were traded on the counter so far as against the average daily volumes of 58072 shares in the past one month.
Kwality Ltd dropped 3.89% to Rs 17.3. The stock was the fifth biggest loser in 'A' group.On the BSE, 5.78 lakh shares were traded on the counter so far as against the average daily volumes of 18.74 lakh shares in the past one month.

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Axis Bank Ltd up for a fifth straight session today

Jul 12 2018 2:31PM

Axis Bank Ltd is up for a fifth straight session today. The stock is quoting at Rs 541, up 0.83% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.99% on the day, quoting at 11056.45. The Sensex is at 36626.25, up 0.99%. Axis Bank Ltd has gained around 0.06% in last one month.
Meanwhile, Nifty Bank index of which Axis Bank Ltd is a constituent, has gained around 1.66% in last one month and is currently quoting at 26816.2, up 1% on the day. The volume in the stock stood at 25.95 lakh shares today, compared to the daily average of 53.08 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 541.5, up 0.82% on the day. Axis Bank Ltd is up 5.68% in last one year as compared to a 11.78% jump in NIFTY and a 13.38% jump in the Nifty Bank index.

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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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Tata Value Fund - Series 2 Floats On

Jul 11 2018 1:37PM

Tata Mutual Fund has launched a new fund named Tata Value Fund – Series 2, a close ended equity scheme following a value investment strategy. The tenure of the scheme is 1103 days from the date of allotment. The new issue will be open for subscription from 13 July 2018 to 27 July 2018.
The investment objective of the scheme is to provide capital appreciation over the tenure of the fund through a diversified equity portfolio following value investment strategy.
The scheme offers two options viz. growth option and dividend option (payout).
The scheme would invest 80% - 100% of assets in equity & equity related instruments with high risk profile and upto 20% of asset in cash, debt & money market instruments with low to medium risk profile.
Minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is S&P BSE 200 Index TRI.
The fund manager of the scheme is Sonam Udasi.

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DSP BlackRock FMP – Series 239 – 36M Floats On

Jul 11 2018 1:36PM

DSP BlackRock Mutual Fund has launched a new fixed maturity plan named as DSP BlackRock FMP – Series 239 – 36M, a close-ended income scheme with the duration of 36 months 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 13 July 2018 to 19 July 2018.
The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities, which mature on or before the date of maturity of the scheme.
The scheme offers a choice of two options, growth option and dividend payout with regular payout and Quarterly payout option.
The scheme would allocate 80%-100% of assets in debt securities and invest 0% - 20% of assets in money market securities / instruments with low to medium risk profile.
The minimum application amount is Rs 5000.
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 QM (1100 days) Floats On

Jul 9 2018 10:59PM

Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life Fixed Term Plan – Series QM (1100 days), a close ended income scheme. The tenure of the scheme is 1100 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 10 July 2018 to 11 July 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) and Quarterly 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 asset 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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IDFC Fixed Term Plan Series – 156 Floats On

Jul 4 2018 10:25PM

IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series – 156, a close ended debt scheme. The tenure of the scheme is 1103 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 09 July 2018 to 11 July 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of each series under the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.
The scheme would invest 100% - 80% of its assets in debt securities with medium to high risk profile and upto 20% of assets in money market instruments (including CBLO) with low to medium risk profile.
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 load 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 is Anurag Mittal.

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Sundaram MF Announces quarterly dividend under its schemes

Jul 4 2018 10:23PM

Sundaram Mutual Fund has announced 26 June 2018 as the record date for the declaration of dividend on the face value of Rs 10 per unit under the following schemes. The amount of dividend (Paisa per unit) will be:
Sundaram Short Term Debt Fund – Regular Plan – Quarterly Dividend: 0.15
Sundaram Corporate Bond Fund – Regular Plan – Quarterly Dividend & Direct Plan – Quarterly Dividend Option: 0.15 each.
Sundaram Low Duration Fund – Regular Plan – Quarterly Dividend, Direct Plan – Quarterly Dividend & Retail Plan – Quarterly Dividend: 0.15 each.
Sundaram Money Fund – Regular Plan – Quarterly Dividend, Direct Plan – Quarterly Dividend & Retail Plan – Quarterly Dividend: 0.15 each.
Sundaram Short Term Credit Risk Fund – Regular Plan – Quarterly Dividend: 0.15
Sundaram Debt Oriented Hybrid Fund – Regular Plan – Quarterly Dividend & Direct Plan – Quarterly Dividend Option: 0.15 each.
Sundaram Medium Term Bond Fund – Regular Plan – Quarterly Dividend & Direct Plan – Quarterly Dividend Option: 0.15 each.
Sundaram Fixed Maturity Plan HA – Regular Plan – Quarterly Dividend: 0.15
Sundaram Fixed Maturity Plan HC – Regular Plan – Quarterly Dividend: 0.15

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IDFC Fixed Term Plan Series – 155 Floats On

Jul 3 2018 1:18PM

IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series – 155, a close ended debt scheme. The tenure of the scheme is 92 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 09 July 2018 to 10 July 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, periodic dividend options and default option.
The scheme would invest upto 100% of its assets in debt and money market instruments with low to medium risk profile.
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 load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Liquid Fund Index.
The fund manager of the scheme is Harshal Joshi.

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IDFC Fixed Term Plan Series – 156 Floats On

Jul 3 2018 1:16PM

IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series – 156, a close ended debt scheme. The tenure of the scheme is 1103 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 09 July 2018 to 11 July 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of each series under the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.
The scheme would invest 100% - 80% of its assets in debt securities with medium to high risk profile and upto 20% of assets in money market instruments (including CBLO) with low to medium risk profile.
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 load 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 is Anurag Mittal.

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UTI Fixed Term Income Fund – Series XXIX – X (1405 Days) Floats On

Jun 22 2018 1:53PM

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXIX – X (1405 Days), a close ended Debt scheme. The duration of the scheme is 1405 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 20 June to 21 June 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 up to 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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Copper Declines Yet Again, Hovers Around One Year Lows

Jul 16 2018 11:06PM

Copper slipped but held above recent one-year lows on Monday after China's second-quarter growth slowed as expected, with the focus expected to shift to Beijing's response to the latest U.S. tariffs plan.
China's economic growth slowed in the second quarter as the government's efforts to tackle debt risks crimp activity and an intensifying trade war with the United States threatens to knock exports. At 6.7 percent, growth came in line with expectations. Indian Copper was down by 0.56% to trade at Rs 420.3 per kg.

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Crude Crashes, WTI Futures Tumble More Than 2%

Jul 16 2018 11:05PM

WTI Crude oil futures slipped further today as a break under $70 per barrel continued amid weak Chinese economic figures and the lingering trade spat between US and China. WTI Crude is currently trading at $68.42 per barrel, down 2.20% on the day. The hefty slide came after Chinese industrial production increased by 6% in June after coming in at 6.8% in May. That was the weakest reading since March.
China's retail sales of consumer goods grew 9% year on year in June, accelerating from the 8.5% rise seen in May, according to the National Bureau of Statistics (NBS). In the first half of the year, retail sales expanded 9.4% year on year to reach 18 trillion yuan, compared with a 9.8% growth in the first quarter. China's fixed-asset investment (FAI) rose 6% year on year in the first half of this year. Total FAI stood at about 29.73 trillion yuan, according to NBS.
Global equities were mixed. European stocks saw a choppy movement while Asian markets mostly slipped following a rather tepid set of Chinese economic data. MCX Crude oil futures also followed the global cues and dropped 2.40% to trade at Rs 4766 per barrel. The counter tumbled nearly Rs 100 in intraday moves.

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Indian Rupee Extends Strength To Third Day

Jul 13 2018 1:21PM


The Indian rupee appreciated against the dollar for the third day in row on Friday, 13 July 2018 amid continued selling of the greenback by banks and exporters. Also, easing food prices and a higher opening in the domestic equity market supported the rupee. The US dollar strengthened on hopes that US inflation will pick up. However, concerns about rising US-China trade tensions capped the American currency's gains.
The domestic currency climbed close to 20 paise to commence trade at Rs 68.3650 against the dollar and climbed to a three-week high of 68.32 against the US dollar in deals. In the spot currency market, the Indian unit was last seen trading at 68.4175, off initial highs but still stronger as compared to previous day. Yesterday, the local currency had edged up by 20 paise to end at a one-week high of 68.57 against the US dollar buoyed by a steep fall in crude prices and a strong rally in equity markets.
On the macro front, industrial production slipped to a seven-month low of 3.2 per cent in May due to sluggish performance of manufacturing and power sectors, while retail inflation continued to remain firm in June on costlier fuel. Retail inflation spiked to a five-month high of 5 per cent in June on costlier fuel, despite easing food prices.
The Sensex trimmed gains soon after scaling a record high while the Nifty sank in negative zone in morning trade. At 10:22 IST, the barometer index, the S&P BSE Sensex, was up 7.98 points or 0.02% at 36,556.39. The Nifty 50 index was down 4.50 points or 0.04% at 11,018.70. Intraday volatility was high. Domestic stocks nudged higher in early trade on positive Asian stocks. Overseas, most Asian stocks rose as China refrained from detailing retaliation plans against threatened US tariff increases. The US and China reportedly signaled they were open to resuming negotiations over trade after days of exchanging retaliatory threats.
US stocks closed solidly higher yesterday, 12 July 2018 with the Nasdaq Composite Index ending at a record on the back of a rally in internet and technology giants, which helped to overshadow ongoing uncertainty over trade relations between the US and China.
Meanwhile, the dollar was buoyant near a 10-day peak on Friday, supported by Treasury yields that edged higher on expectations the U.S. inflation rate will rise. The dollar index against a basket of six major currencies (DXY) nudged up 0.1 percent to 94.875 and was close to 94.941, the 10-day peak scaled a day earlier. The index has risen 0.9 percent on the week.

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Rio Tinto achieves first delivery of iron ore with world's largest robot

Jul 13 2018 1:20PM

Rio Tinto has achieved a significant milestone with the first delivery of iron ore by an autonomous train in the Pilbara, Western Australia. The autonomous train, consisting of three locomotives and carrying around 28,000 tonnes of iron ore, travelled over 280 kilometres from Rio Tinto's mining operations in Tom Price to the port of Cape Lambert on 10 July.
It was monitored remotely by operators from Rio Tinto's Operations Centre in Perth more than 1,500 kilometres away. The inaugural journey is a significant milestone for Rio Tinto's AutoHaul programme and follows regulatory approval in May. AutoHaul is on schedule to complete by the end of the year, unlocking significant safety and productivity gains for the business, as well as optimising the company's iron ore system by providing more flexibility and reducing bottlenecks.
Rio Tinto Iron Ore managing director Rail, Port & Core Services Ivan Vella said “The safe first delivery of iron ore by an autonomous train is a key milestone for AutoHaul™. The programme will deliver the world's first fully autonomous, long-distance, heavy-haul rail network, operating the world's largest and longest robots.
“This programme symbolises both the pioneering spirit and innovative talents of many people across Rio Tinto and shows our absolute commitment to improving safety and productivity, as well as enabling greater flexibility across our operations.
“We will continue to ensure our autonomous trains operate safely under the wide range of conditions we experience in the Pilbara, where we record more than eight million kilometres of train travel each year. “We are working closely with drivers during this transition period as we prepare our employees for new ways of working as a result of automation."
The $940 million AutoHaul™ programme is focused on automating trains transporting iron ore to Rio Tinto's port facilities in the Pilbara region of Western Australia. Once commissioned, the network will be the world's first heavy haul, long distance autonomous rail operation. Rio Tinto operates about 200 locomotives on more than 1,700 kilometres of track in the Pilbara, transporting ore from 16 mines to four port terminals.

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Water Storage In Major Reservoirs At 24% Of Total Capacity

Jul 13 2018 1:19PM

The water storage available in 91 major reservoirs of the country for the week ending on July 12, 2018 was 38.157 BCM which is 24% of total storage capacity of these reservoirs. This percentage was at 20% for the week ending on July 05, 2018. The level of water storage in the week ending on July 12, 2018 was 107% of the storage of corresponding period of last year and 99% of storage of average of last ten years.
The total storage capacity of these 91 reservoirs is 161.993 BCM which is about 63% of the total storage capacity of 257.812 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.
The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are six reservoirs under CWC monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 3.07 BCM which is 17% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 33% and average storage of last ten years during corresponding period was 35% of live storage capacity of these reservoirs.
The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 3.22 BCM which is 17% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 19% and average storage of last ten years during corresponding period was 19% of live storage capacity of these reservoirs.
The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 31.26 BCM. The total live storage available in these reservoirs is 5.56 BCM which is 18% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 23% and average storage of last ten years during corresponding period was 21% of live storage capacity of these reservoirs.
The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 9.65 BCM which is 23% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 28% and average storage of last ten years during corresponding period was 24% of live storage capacity of these reservoirs.
The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states), Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 16.66 BCM which is 32% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 14% and average storage of last ten years during corresponding period was 24% of live storage capacity of these reservoirs.
States having better storage than last year for corresponding period are Rajasthan, West Bengal, Tripura, Maharashtra, AP&TG (Two combined projects in both states), Andhra Pradesh Karnataka, Kerala and Tamil Nadu. States having equal storage than last year for corresponding period is Uttarakhand. States having lesser storage than last year for corresponding period are Himachal Pradesh, Punjab, Jharkhand, Odisha, Gujarat, Uttar Pradesh, Madhya Pradesh, Chhattisgarh and Telangana.

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Freeport-McMoRan Announces Terms of PT Freeport Indonesia Divestment

Jul 12 2018 10:59PM


Freeport-McMoRan Inc. announced that it has entered into a Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia's (PT-FI) joint venture partner Rio Tinto. Under the terms of the non-binding Heads of Agreement, Inalum will acquire for cash consideration of $3.85 billion all of Rio Tinto's interests associated with its Joint Venture with PT-FI (the "Joint Venture"), and 100 percent of FCX's interests in PT Indocopper Investama (PT-II), which owns 9.36 percent of PT-FI.
Inalum will contribute the Rio Tinto interests to PT-FI, which will expand PT-FI's asset base, in exchange for a 40 percent share ownership in PT-FI, pursuant to arrangements that will enable FCX and existing PT-FI shareholders to retain the economics of the revenue and cost sharing arrangements under the Joint Venture. Following completion of the transaction, Inalum's share ownership will approximate 51 percent of PT-FI (subject to an agreement between shareholders to replicate the Joint Venture economics), and FCX's ownership will approximate 49 percent.
At closing, Rio Tinto will receive $3.5 billion, and FCX will receive $350 million, in cash proceeds from Inalum. In addition, Rio Tinto will forego in favor of FCX an amount equivalent to Rio Tinto's share of Joint Venture cash flows received since January 1, 2018 through closing.
Following completion of the transaction, FCX expects its share of future cash flows of the expanded PT-FI asset base, combined with the cash proceeds received in the transaction, to be comparable to its existing share of future cash flows under the current Joint Venture arrangements. FCX will continue to manage the operations of PT-FI.

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COMEX Gold Facing Heavy Resistance Around 200 Week EMA

Jul 12 2018 10:56PM

Gold has flipped back direction following a modest recovery from seven month lows and is looking weak. The metal edged up towards $1270 per ounce but 200 week Exponential Moving Average (EMA), arrested the upside for the metal. The threshold is currently placed around $1260 mark and the metal would need to break above the same successfully to see any more gains. However, the lower Bollinger bands have been coming in play consistently for last few weeks, in turn setting stage for a mostly choppy movement for the metal before a clear break takes place on either direction. The metal currently lingers around $1244 mark.

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Glencore Subsidiary Asked to Produce Records for Business in Nigeria

Jul 11 2018 10:51PM

Glencore announced that a subsidiary had received a subpoena from the United States Department of Justice to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and United States money laundering statutes. The requested documents relate to the Glencore Group's business in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to present.
A committee of the Board has been established to oversee the Company's response to the DOJ's subpoena. This committee comprises the Chairman, Tony Hayward, Leonhard Fischer (Independent Non-Executive Director) and Patrice Merrin (Independent Non-Executive Director).
Chairman Tony Hayward said: "Glencore takes ethics and compliance seriously throughout the Group. The Company will cooperate with the DOJ, while continuing to focus on our business and seeking to maximise the value we create for our diverse stakeholders in a responsible and transparent manner."
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities. With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

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Pre-Session:Shares may extend losses amid negative global cues

Jul 17 2018 8:41AM

Market may extend losses, tracking negative leads from Asian markets. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 18 points at the opening bell.
On the economic front, the International Monetary Fund (IMF) has cut India's growth forecast by 10 basis points to 7.3% for the current year and by 30 basis points to 7.5% for 2019, citing faster-than-anticipated monetary tightening and higher crude prices. The international body had projected 7.4% and 7.8% growth for 2018 and 2019, respectively in its April forecast.
Overseas, Asian stocks came under selling pressure, with Japan being the lone market in positive territory.
IMF on Monday warned that there was an increased risk of "worse outcomes" amid recent international trade tensions, although it kept its forecasts for global growth this year the same at 3.9%.
In US, the Dow industrials bucked the trend of an otherwise downbeat session on Monday as upbeat economic data and a fresh round of quarterly results failed to stoke buying appetite. Investors also watched President Donald Trump and Russian President Vladimir Putin convene for a summit in Helsinki, Finland but reaction to a joint conference with the two leaders was muted.
On the US data front, US retail sales rose 0.5% in June. Separately, the Empire State Index fell 2.4 points to 22.6 in July. Business inventories in the US rose 0.4% in May, the Commerce Department said. Sales jumped 1.4% in the month.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 625.68 crore yesterday, 16 July 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 70.30 crore yesterday, 16 July 2018, as per provisional data.
Among corporate news, Hindustan Unilever (HUL)'s net profit rose 19.17% to Rs 1529 crore on 11.37% rise in net sales to Rs 9356 crore in Q1 June 2018 over Q1 June 2018. The result was announced after market hours yesterday, 16 July 2018.
Stocks drifted lower in volatile trade yesterday, 16 July 2018. The barometer index, the S&P BSE Sensex, lost 217.86 points or 0.6% to settle at 36,323.77. The Nifty 50 index fell 82.05 points or 0.74% to settle at 10,936.85. The Nifty settled below the psychologically important 11,000 mark after falling below that level in intraday trade.

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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]