Equity and Commodity Advisory Services - F&O Tips, Intraday Tips, Commodity Tips, Stock Market Tips

The announcement was made after market hours yesterday, 25 March 2019. Meanwhile, the S&P BSE Sensex was up 395.28 points, or 1.05% to 38,204.19. On the BSE, 7542 shares were traded in the counter so far compared with average daily volumes of 7159 shares in the past two weeks. The stock had hit a high of Rs 452.90 and a low of Rs 442 so far during the day. The stock hit a 52-week high of Rs 507 on 7 May 2018. The stock hit a 52-week low of Rs 268.50 on 29 October 2018. Kalpataru Power Transmission (KPTL), through its wholly owned subsidiary, Kalpataru Power Transmission Sweden AB signed definitive agreement to acquire 85% stake in Linjemontage i Grastorp AB for an enterprise value of $24 million. The transaction expected to close in Q1 FY2020. Founded in 1993, Linjemontage specializes in engineering, procurement and construction (EPC) and operations and maintenance (O&M) in power supply solutions and services for electricity networks up to voltage range of 400 kV. The company has three main business areas, comprising of EPC of substation, transmission & distribution networks and O&M of electricity network services. Linjemontage order book as on date is $77 million spread across Sweden and Norway. Net profit of Kalpataru Power Transmission rose 22.30% to Rs 92.01 crore on 21.68% rise in net sales to Rs 1724.66 crore in Q3 December 2018 over Q3 December 2017. Kalpataru Power Transmission (KPTL) is amongst the largest players firmly entrenched in the global power transmission and infrastructure EPC space.

Reliance Communications Ltd, Jubilant Life Sciences Ltd, Meghmani Organics Ltd and SpiceJet Ltd are among the other losers in the BSE's 'A' group today, 26 March 2019.
NLC India Ltd crashed 8.59% to Rs 71.3 at 14:49 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 1.34 lakh shares were traded on the counter so far as against the average daily volumes of 79639 shares in the past one month.
Reliance Communications Ltd lost 4.94% to Rs 4.81. The stock was the second biggest loser in 'A' group.On the BSE, 12.37 lakh shares were traded on the counter so far as against the average daily volumes of 110.52 lakh shares in the past one month.
Jubilant Life Sciences Ltd tumbled 4.44% to Rs 692.75. The stock was the third biggest loser in 'A' group.On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 1.65 lakh shares in the past one month.
Meghmani Organics Ltd slipped 4.31% to Rs 60. The stock was the fourth biggest loser in 'A' group.On the BSE, 4.06 lakh shares were traded on the counter so far as against the average daily volumes of 2.82 lakh shares in the past one month.
SpiceJet Ltd corrected 3.28% to Rs 92.8. The stock was the fifth biggest loser in 'A' group.On the BSE, 46.26 lakh shares were traded on the counter so far as against the average daily volumes of 23.17 lakh shares in the past one month.

Transwarranty Finance Ltd, Zenith Exports Ltd, Suryalakshmi Cotton Mills Ltd and Khaitan (India) Ltd are among the other gainers in the BSE's 'B' group today, 26 March 2019.
Landmark Property Development Company Ltd soared 11.68% to Rs 4.4 at 12:04 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 14409 shares were traded on the counter so far as against the average daily volumes of 6665 shares in the past one month. 
Transwarranty Finance Ltd surged 11.63% to Rs 4.8. The stock was the second biggest gainer in 'B' group. On the BSE, 228 shares were traded on the counter so far as against the average daily volumes of 1717 shares in the past one month. 
Zenith Exports Ltd spiked 10.00% to Rs 46.75. The stock was the third biggest gainer in 'B' group. On the BSE, 55 shares were traded on the counter so far as against the average daily volumes of 83 shares in the past one month. 
Suryalakshmi Cotton Mills Ltd spurt 8.39% to Rs 32.95. The stock was the fourth biggest gainer in 'B' group. On the BSE, 11516 shares were traded on the counter so far as against the average daily volumes of 1987 shares in the past one month. 
Khaitan (India) Ltd rose 8.13% to Rs 35.9. The stock was the fifth biggest gainer in 'B' group. On the BSE, 293 shares were traded on the counter so far as against the average daily volumes of 1122 shares in the past one month. 

Welspun Corp Ltd is up for a third straight session today. The stock is quoting at Rs 127.1, up 6.45% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.16% on the day, quoting at 11372.5. The Sensex is at 37846.49, up 0.1%. Welspun Corp Ltd has gained around 18.01% in last one month. 
Meanwhile, Nifty Metal index of which Welspun Corp Ltd is a constituent, has gained around 4.38% in last one month and is currently quoting at 2949.65, up 0.74% on the day. The volume in the stock stood at 7.31 lakh shares today, compared to the daily average of 6.67 lakh shares in last one month.
The PE of the stock is 124.9 based on TTM earnings ending December 18.

NTPC Ltd gained for a third straight session today. The stock is quoting at Rs 137.95, up 1.92% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.16% on the day, quoting at 11372.5. The Sensex is at 37846.49, up 0.1%. NTPC Ltd has gained around 19.31% in last one month. 
Meanwhile, Nifty Energy index of which NTPC Ltd is a constituent, has gained around 11.43% in last one month and is currently quoting at 16147.9, up 1.36% on the day. The volume in the stock stood at 99.21 lakh shares today, compared to the daily average of 214.39 lakh shares in last one month.
The benchmark March futures contract for the stock is quoting at Rs 138.3, up 1.99% on the day. NTPC Ltd is down 3.22% in last one year as compared to a 11.67% jump in NIFTY and a 22.56% jump in the Nifty Energy index.
The PE of the stock is 12.99 based on TTM earnings ending December 18.

Steel Exchange India Ltd, Kanani Industries Ltd, Indo Count Industries Ltd and RPP Infra Projects Ltd are among the other losers in the BSE's 'B' group today, 18 March 2019.
Sambhaav Media Ltd lost 14.03% to Rs 4.29 at 14:33 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 7900 shares were traded on the counter so far as against the average daily volumes of 18466 shares in the past one month.
Steel Exchange India Ltd crashed 10.19% to Rs 18.5. The stock was the second biggest loser in 'B' group.On the BSE, 361 shares were traded on the counter so far as against the average daily volumes of 9751 shares in the past one month.
Kanani Industries Ltd tumbled 9.87% to Rs 6.21. The stock was the third biggest loser in 'B' group.On the BSE, 1500 shares were traded on the counter so far as against the average daily volumes of 7281 shares in the past one month.
Indo Count Industries Ltd dropped 8.83% to Rs 54.7. The stock was the fourth biggest loser in 'B' group.On the BSE, 43611 shares were traded on the counter so far as against the average daily volumes of 77635 shares in the past one month.
RPP Infra Projects Ltd pared 7.83% to Rs 110. The stock was the fifth biggest loser in 'B' group.On the BSE, 1.03 lakh shares were traded on the counter so far as against the average daily volumes of 10371 shares in the past one month.

On the BSE, 2.68 lakh shares were traded in the counter so far compared with average daily volumes of 2.92 shares in the past two weeks. The stock had hit a high of Rs 48.85 and a low of Rs 46.25 so far during the day.
Jammu & Kashmir Bank has executed Share Purchase Agreement with Oman India Joint Investment Fund II for sale by the Bank of 4.11 crore equity shares of PNB MetLife India Insurance Company at a total consideration of Rs 185 crore.
Jammu & Kashmir Bank's net profit rose 43.16% to Rs 103.75 crore on 20.97% increase in total income to Rs 2166.22 crore in Q3 December 2018 over Q3 December 2017.
Jammu & Kashmir Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country.

The announcement was made after market hours yesterday, 14 March 2019. Meanwhile, the S&P BSE Sensex was up 315.08 points, or 0.83% to 38,069.97. On the BSE, 4.69 lakh shares were traded in the counter so far compared with average daily volumes of 8.90 lakh shares in the past two weeks. The stock had hit a high of Rs 1358.20 and a low of Rs 1344.10 so far during the day. The stock hit a 52-week high of Rs 1,361.45 on 14 March 2019. The stock hit a 52-week low of Rs 881 on 28 March 2018. Brookfield has filed the preliminary placement memorandum, in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as Sponsor and 90% investor, will invest Rs 13,000 crore to acquire the East West Pipeline ("Pipeline"). As a part of the transaction, the InvIT will acquire 100% equity interest in Pipeline Infrastructure ("PIPL") which currently owns and operates the Pipeline. Pursuant to this acquisition by Brookfield, the existing pipeline usage agreement has been reworked. The reserved capacity is reduced to 33 MMSCMD against the 56 MMSCMD. Any un-utilized capacity payment by Reliance Industries (RIL) will be the difference between Rs 500 crore a quarter and actual revenue earned by PIPL. RIL will continue to be entitled to transport gas, either by itself or of any customers, free of cost against any outstanding unutilized capacity payments. At the current approved final tariff of Rs 71.66/MMBTU, if the average volume of gas transported is 22 MMSCMD, RIL will not be liable to make unutilized capacity payments. The next review of tariff in April 2020 will also consider upward revision to tariff arising from determination of lower revised capacity of the pipeline. Considering the new investments in the upstream sector in the KG basin, and the growing LNG imports, ability to swap gas, the average volume expected to be transported through the pipeline is expected to be significantly higher compared to the current levels. RIL will be entitled to a significant participation in the net earnings of PIPL under the mechanism specified in the pipeline usage agreement. RIL's current investment in preference shares valued at Rs 4,000 crore to continue and will be converted into equity at the end of 20 years. Further at the end of 20 years, RIL has the right to acquire equity shares of PIPL held by the InvIT at an equity value of Rs 50 crore. On a consolidated basis, Reliance Industries (RIL) net profit increased 8.82% to Rs 10251 crore on 56.69% increase in net sales to Rs 156397 crore in Q3 December 2018 over Q3 December 2017. RIL's activities span across hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

The Board of Cyient at its meeting held on 17 January 2019 has decided that further deliberations are required in order to take a decision on the proposal of buyback, and accordingly decided to take up the discussion regarding the buyback at a later date. The Company shall comply with SEBI LODR Regulations and other applicable laws in this regard.

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.

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.

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).

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.

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.

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.

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.

Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life Fixed Term Plan – Series SM (1135 days), a close ended income scheme. The tenure of the scheme is 1135 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 27 March 2019 to 27 March 2019.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.

ICICI Prudential Interval Fund Series – IX – 185 Days Plan F Floats On
ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Interval Fund Series – IX – 185 Days Plan F, a debt oriented interval scheme. The tenure of the scheme is 185 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 19 March 2019 to 25 March 2019.
The investment objective of the Scheme is to seek to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities maturing on or before the opening of the immediately following Specified Transaction Period (STP).
Presently, two options are available under the scheme viz. cumulative and dividend option (with dividend payout & dividend transfer plan facility).
The scheme will invest upto 100% of assets in money market and debt instruments including government securities with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The minimum additional investment amount is Rs 1000 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 Ultra Short Term Debt Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru.

Reliance Mutual Fund has launched a new fund named Reliance Fixed Horizon Fund - XLI - Series 4, a close ended income scheme. The tenure of the scheme is 1175 days from the date of allotment. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 15 March 2019 to 25 March 2019.
The investment objective of the scheme is to seek to generate returns and growth of capital by investing in a diversified portfolio of the following securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility -
Central and State Government securities and
Other fixed income/ debt securities
The scheme offers two options viz. growth and dividend payout option.
The scheme would invest 100% - 90% of assets in Government securities / State Development Loans (SDLs) & Debt Instruments with medium to low risk profile and upto 10% of asset in money market instruments with low risk profile.
Minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Composite Bond Fund Index.

Sundaram Mutual Fund has launched a new fund named as Sundaram Fixed Term Plan – IS, a close ended income scheme with the duration of 1120 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 March 2019 and closes on 19 March 2019.
The objective of the Scheme would be to generate income by investing in debt and money market securities, which mature on or before the maturity of the scheme.
The scheme offers growth and dividend payout, dividend sweep options.
The scheme will allocate up to 0%-20% of assets in money market instruments including bills rediscounting & cash equivalents and up to 80%-100% of assets in short term & medium term debt instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Invesco Mutual Fund has launched a new fund named Invesco India Fixed Maturity Plan - Series 34 - Plan A, a close ended debt scheme. The tenure of the scheme is 278 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 March 2019 to 13 March 2019.
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 date of maturity of the Scheme.
The scheme offers two options viz. growth and dividend payout options.
The scheme would invest upto 100% of asset in debt instruments including money market instruments with low 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 Short Term Bond Fund Index.

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXXI – IX (1168 Days), a close ended debt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 12 March 2019 to 26 March 2019.
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.

HSBC Mutual Fund has launched a new fund named as HSBC Large and Mid Cap Fund, Large & Mid Cap Fund - An open ended equity scheme investing in both large cap and mid cap stocks. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 March to 25 March 2019.
The investment objective of the scheme is to seek long term capital growth through investments in both large cap and mid cap stocks.
The scheme offers Growth and Dividend with Dividend Payout and Reinvestment facilities.
The scheme would allocate 80%-100% of assets in equity and equity related securities with medium to high risk profile, invest 35%-65% of assets in large cap companies with medium to high risk profile, invest 35%-65% of assets in mid cap companies with medium to high risk profile, invest 0%-30% of assets in other than large cap and mid cap companies with medium to high risk profile and invest 0%-20% of assets would be allocated to debt & money market instruments (including cash & cash equivalents) with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 1000 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.

Mirae Mutual Fund has launched a new fund named Mirae Asset Fixed Maturity Plan – Series III – 1122 Days, a close ended income scheme. The tenure of the scheme is 1122 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 08 March 2019 to 15 March 2019.
The investment objective of the scheme is to generate income through investments in debt including money market instruments and government securities maturing on or before the date of maturity of the scheme.
The scheme offers two options viz. growth and dividend option. The dividend option shall have only dividend payout option.
The scheme would invest 80% - 100% of its assets in debt securities and government securities with medium risk profile and upto 20% of assets in money market instruments with low risk profile.
Minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load 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 Mahendra Jajoo.

WTI Crude oil futures are consolidating just below four month lows of $60 per barrel on cautious equities and global growth concerns. Local traders are also keeping a watch on Indian Rupee and a continued shortfall in Indian crude oil production. India's Crude oil production during February, 2019 was 2563.73TMT which is 13.36% lower than target and 6.14% lower when compared with February, 2018.Cumulative crude oil production during April-February, 2018-19 was 31348.98 TMT which is 7.06% and 3.96% lower than the cumulative target and production respectively during the corresponding period of last year.

The Indian rupee added gains against the dollar in early trades on Tuesday, 26 March 2019, tracking gains in Asian currencies market. Sustained overseas fund inflows in the debt and equity markets helped support the domestic currency. The currency has been riding high on massive liquidity push in the form of strong foreign fund inflows in March. On a net basis, foreign portfolio investors (FPIs) bought equities worth a net Rs 150.40 crore Monday, provisional data showed.
The domestic currency opened at Rs 68.88 against the dollar and registered an intra-day high and low of 68.76 and 68.94 respectively so far during the day. In the spot currency market, the Indian unit was last seen trading at 68.93. The rupee closed Monday at 68.96. So far this year, the rupee has gained 1.30% against the US dollar.
Local stocks were trading with small gains in early trade. At 9:22 IST, the barometer index, the S&P BSE Sensex, was up 26.12 points or 0.07% at 37,835.03. The Nifty 50 index was up 13.20 points or 0.12% at 11,367.45. The S&P BSE Mid-Cap index was up 0.3%. The S&P BSE Small-Cap index was up 0.32%. Both these indices outperformed the Sensex.
Overseas, most Asian stocks were trading higher. U.S. stocks closed mostly lower Monday after data showing weakness on the global economic front triggered heavy losses at the end of last week while investors continued to fret over the inversion of the yield curve. However, the Dow bucked the trend to rise as shares of Boeing Co. rallied after recent losses.
Meanwhile, the dollar rebounded modestly against the yen on Tuesday as Treasury yields pulled back from 15-month lows as investors reassessed the risks of a sharper downturn in the global economy.

COMEX Copper futures edged up a little after testing six week low but sentiments remain cautious on global growth concerns and weak fund buying. Large base metals speculators cut their bullish net positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 16,355 contracts in the data reported through Tuesday March 19th. This was a weekly decline of -9,212 net contracts. The net speculative position is down for a second straight week. The current position for speculators has now dropped to the lowest level of the past four weeks.

Large precious metals speculators trimmed their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 78,819 contracts in the data reported through Tuesday March 12th. This was a weekly fall of -9,199 net contracts. The net speculator position has now fallen for three straight weeks. The commercial trader's position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -108,474 contracts on the week. This was a weekly rise of 5,523 contracts.

Demand for ready edible oils is weak and not much buying is emerging in soybean markets. Traders are expecting a sideways pattern in prices. DOC demand is weak and palm oil prices are also easing. As per the latest release from Solvent Extractors' Association of India, the import of vegetable oils during January 2019 is reported at 1,275,259 tons compared to 1,291,141 tons in January 2018, consisting 1,210,603 tons of edible oils and 64,656 tons of non-edible oils i.e. down by 3%. The overall import of vegetable oils during November 2018 to January 2019 is reported at 3,620,316 tons compared to 3,628,734 tons- more or less the same, thanks to higher import duty. Spot Soybeans are currently quoting at Rs 3755 per quintal in Indore, down 0.30% on the day.

Sugar spot prices stayed mixed after recent gains. Prices rose after the government hiked Minimum Support Price (MSP) from Rs 29 per kg to Rs 31 per kg for the year 2019-20. The spot prices are quoting at Rs 3120 per quintal in Muzaffarnagar, up 0.20% on the day. Demand is fairly weak in wholesale markets. However, ISMA has noted that considering the trend of yields, recoveries and drawal of sugarcane as also diversion of some ‘B’ heavy molasses to ethanol, sugar production this year is estimated to be around 307 lakh tons. This will be 5-6% less than the sugar production of about 325 lakh tons in the previous season.

The overall demand is weak in Coriander though there is some improvement in inquiries after the recent fall in prices. Weather patterns have been auguring well for the crop of Coriander, keeping a lid on prices in last few sessions. The overall upside is limited given that the traders are focusing on the production outlook and prices are seen trading in a range. The commodity is currently trading at Rs 6350 per quintal in Kota, almost unchanged on the day.

Crude oil futures surged further today, adding to their recent gains as the commodity benefitted from supportive equities and strong fund buying. A sharp spike was seen in the counter as European markets jumped in early moves. Sentiments were supported as media reports noted that the UK Prime Minister Theresa May has claimed a major breakthrough in talks over Brexit with EU Commission President Jean-Claude Juncker. WTI Crude oil futures extended their rebound from two week low and currently trade at $57.34 per barrel, up 1% on the day. The MCX Crude oil futures also soared following this. The local futures slipped into red around lunchtime but saw good buying near Rs 3960 per barrel mark. The gains persisted as the counter soon broke into positive territory and saw a huge spike in last half hour of trade. The futures approached Rs 4000 per barrel levels in a flash. The contract currently trades at Rs 3996 per barrel, up 0.73% on the day.

Key equity benchmarks jumped on Tuesday after two sessions of losses. Positive global stocks and strength in domestic currency amid firm foreign portfolio inflows helped fortify investors' sentiment. The Sensex ended well above the psychological 38,000 mark.
The Sensex rose 424.50 points or 1.12% to settle at 38,233.41. The index rose 488.79 points, or 1.29% at the day's high of 38,297.70. The index fell 8.83 points, or 0.02% at the day's low of 37,800.08.
The Nifty 50 index rose 129 points or 1.14% to settle at 11,483.25. The index rose 142.50 points, or 1.26% at the day's high of 11,496.75. The index fell 1.80 points, or 0.02% at the day's low of 11,352.45.
Local stocks drifted higher in early trade. A bout of volatility was seen as the key indices extended gains in morning trade. Stocks hovered in positive zone till afternoon trade. Indices extended gains in mid-afternoon trade. Strong buying demand in late trade propelled the indices to fresh intraday high.
The S&P BSE Mid-Cap index rose 1.09%. The S&P BSE Small-Cap index rose 0.66%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1407 shares rose and 1288 shares fell. A total of 163 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Bankex (up 2.19%), the S&P BSE Energy index (up 2.14%), the S&P BSE Power index (up 1.7%), outperformed the Sensex. The S&P BSE Teck index (down 0.41%), the S&P BSE IT index (down 0.58%), the S&P BSE Capital Goods index (up 0.15%) underperformed the Sensex.
Index heavyweight Reliance Industries gained 3.16% to Rs 1,367.15.
Banks shares were in demand. Among private sector banks, ICICI Bank (up 2.75%), Yes Bank (up 2.71%), Federal Bank (up 2.64%), RBL Bank (up 2.63%), Kotak Mahindra Bank (up 2.60%), IndusInd Bank (up 1.84%), Axis Bank (up 1.79%), HDFC Bank (up 1.24%) and City Union Bank (up 0.42%), edged higher.
Among public sector banks, Union Bank of India (up 4.45%), Syndicate Bank (up 4.28%), Canara Bank (up 3.99%), Bank of Baroda (up 3.55%), Bank of India (up 3.35%), State Bank of India (up 3.23%), Indian Bank (up 2.79%), Punjab National Bank (up 2.16%), Central Bank of India (up 1.4%), Bank of Maharashtra (up 1.14%), IDBI Bank (up 1.07%), Andhra Bank (up 0.98%), United Bank of India (up 0.47%) and UCO Bank (up 0.27%), edged higher. Punjab & Sind Bank (down 1.02%), Corporation Bank (down 1.06%) and Allahabad Bank (down 2.66%), edged lower.
Larsen & Toubro fell 0.37%. L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won a large order from Tawfiq Coke Products-Oman. The contract scope includes selection of technology licensor, FEED & EPC for a 2 x 225,000 TPA plant of calcined coke from green pet coke. Process facilities include material handling, rotary kiln and cooler, combustion chamber, gas separation and associated offsite & utilities packages. The company said the order fall under "large" category which ranges between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts. The announcement was made during trading hours today, 26 March 2019.
Bharti Airtel rose 0.31%. Bharti Airtel announced new ISD call charges for Bangladesh and Nepal as part of its endeavour to simplify tariffs and add to customer convenience. The new ISD call charges, which are currently available to Airtel prepaid mobile users, are the most affordable in the industry and eliminate the need for buying additional ISD packs to make calls to Bangladesh and Nepal. Airtel mobile customers can now enjoy the most competitive ISO tariffs with their regular recharge packs and bundles. Calls to Bangladesh will now be charged at only Rs 2.99/minute (versus Rs. 12 per minute earlier) representing a reduction of 75%. Calls to Nepal will now be charged at Rs 7.99 per minute (versus Rs 13 earlier) representing a reduction of approximately 40%. The announcement was made after market hours yesterday, 25 March 2019.
Grasim Industries rose 2.14%. Grasim Industries said it has challenged the order of Deputy Commissioner of Income Tax (DCIT) dated 14 March 2019, raising demand of sum of Rs 5872.13 crore on account of dividend distribution tax (including interest) before the Bombay High Court. The company has submitted that the order passed by the DCIT is wholly unsustainable in law and the department has sought time to file reply. The company has received order dated 22 March 2019 from the Bombay High Court. The High Court, while granting time to the Department for filing reply, has granted stay against the recovery of demand. The announcement was made after market hours yesterday, 25 March 2019.Jet Airways (India) rose 6.48% after the company said Naresh Goyal stepped down as chairman. As part of the proposed solution, the company's board approved the conversion of Re 1 of lenders' debt into equity by the issuance of 11.40 crore equity shares, in accordance with the RBI Circular of 12 February 2018. With this, the consortium of Indian lenders, led by State Bank of India (SBI), will become the majority shareholders of Jet Airways. As part of the resolution plan, the lenders will also begin the process of sale/ issue of shares to new investors which is expected to be completed in the June quarter. The announcement was made after market hours yesterday, 25 March 2019.
The board also approved its reconstitution by resignation of promoter, Mr Naresh Goyal, Mrs. Anita Goyal, and Mr. Kevin Knight, nominee director of Etihad Airways from their positions on the company's board. The two nominees of the promoter and one nominee of Etihad Airways will continue on the board. Two lender nominees will be inducted to its board, subject to the receipt of requisite approvals.
As part of the resolution plan, the lenders will provide an immediate interim funding support of Rs 1500 crore to Jet Airways. The company will also engage with payment intermediaries for release of trapped cash. The airline will leverage the funding to partly clear pending dues towards lessors, vendors, creditors and employees in a phased manner. The move will see Jet Airways re-deploy several of its grounded aircraft back into its network, helping renew many of the routes it had temporarily suspended, which will help restore normalcy of operations, aiding the airline's long term transformation to continue expansion and to regain its position as a global player.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 68.8450, compared with closing of 68.96 during the previous trading session.
In global commodities markets, Brent crude oil futures edged higher. Brent for May 2019 settlement was up 58 cents at $67.79 a barrel.
Overseas, European shares were trading higher, shrugging off uncertainty over Britain's exit from the European Union.
Asian stocks ended higher, a day after a regional sell-off sparked by fresh worries of a coming US recession. US stocks closed mostly lower Monday after data showing weakness on the global economic front triggered heavy losses at the end of last week while investors continued to fret over the inversion of the yield curve. However, the Dow bucked the trend to rise as shares of Boeing Co. rallied after recent losses.

       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]