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Indian Energy Exchange (IEX) has received approval for incorporation of a wholly owned subsidiary (WOS) company in India to undertake the business of developing a gas exchange for transacting, clearing and settling trades in various types of gas based contracts including all other forms/types of energy, with an initial investment upto Rs 10 crore in the form of subscribed and paid-up capital. The Board of Directors of the company at their meeting held on September 18, 2019, approved the same
IEX is India’s first and no. 1 electricity exchange. It is a transparent, neutral, demutualised, nationwide, automated, online electricity trading platform. It enables efficient price discovery and price risk management for participants of the electricity market including industries eligible for open access through anonymous platform.

Wipro Consumer Care and Lighting (WCCL), the consumer care business of Wipro, has set up a venture fund to invest in start-ups in the consumer brands space with India and South East Asia being focus markets. The 'Wipro Consumer Care - Ventures' will focus on companies with a differentiated approach where both parties can learn by leveraging their strengths and add value to each other.
Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

RITES has signed the contract for supply of two additional fully air-conditioned Diesel Multiple Unit train sets, for $22.4 million (Rs 160 crore) with the Ministry of Transport and Civil Aviation, Government of Sri Lanka, on September 17, 2019.
The company has just completed supply of six sets of DMU coaches to Sri Lanka with State-of-the-art features and amenities, under a previous contract. The supply under the new contract will be done in FY 2020-21.
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.

Vodafone Idea has lost 33,90,797 customers in July 2019. Following this, the company’s total customer base has decreased to 38.00 crore with market share of 32.53% in terms of Wireless Subscribers as on July 31, 2019.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

Hindalco Industries has been recognised in the 2019 edition of the S&P Dow Jones Sustainabllity Indices (DJSI) for its success in governance, social and environmental initiatives and is the only aluminium manufacturer from India to be included in the list this year. The company has achieved 75th percentile overall scores in the economic and environmental dimensions.
Aluminium, produced by the company, can be considered a supermaterial -- strong, lightweight, and infinitely recyclable; it takes 95% less energy to recycle aluminium than to produce primary metal, making it more environment friendly.
Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.

Reliance Capital has received overwhelming response from investors for third Offer for Sale (OFS) announced on September 9, 2019 to sell its 6.31% shareholding in Reliance Nippon Life Asset Management (RNAM). Institutional and retail investors bid for over 260% of the base offer size of 6.31% shareholding in RNAM.
Reliance Capital has sold 17.06% of its shareholding in RNAM, in three successive offers, aggregating over Rs 2,480 crore.
The entire RNAM stake monetization proceeds of around Rs 6,000 crore (around $860 million) to be received through RNAM stake sale by Offer for Sale and transaction with Nippon Life Insurance Company of Japan will be utilised to reduce Reliance Capital’s outstanding debt.
Based on the above, and other asset monetisation deals presently underway, Reliance Capital expects to reduce its debt by at least Rs 12,000 crore ($1.7 billion), or 70%, in the current financial year.
JM Financial acted as Selling Brokers for the Offer For Sale.
Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.

Zensar Technologies is planning to showcase its platform based approach, ‘Experience Enterprise Intelligence’, at the upcoming Oracle OpenWorld on September 16- September 19, 2019 in San Francisco, CA.
The company, an Oracle Platinum and Cloud Standard level member of Oracle PartnerNetwork, will be showcasing its ‘Experience Enterprise Intelligence’ platform based approach that helps to transform customer experiences across various industries, domains and ecosystems, leveraging Oracle Cloud. The company's relationship with Oracle is focused on helping its customers move to the cloud seamlessly with minimum risk and planning.
Zensar Technologies operates as a software service company. It is engaged in software development, networking, e-commerce, and systems integration services. It also provides consulting, collaboration services and business process outsourcing services.

The Pollution Control Board of Andhra Pradesh (APPCB), after an inspection, has asked Bhagiradha Chemicals & Industries, to stop production activity, effective from September 12, 2019 in the company’s facility at Cheruvukommupalem village, Prakasam District, Andhra Pradesh, till such time that the directions issued by APPCB are complied with. The company is in the process of complying with the observations and is hopeful of submitting compliance in a short period of time.
Bhagiradha Chemicals & Industries is into the business of manufacturing high quality basic pesticides.

Gaining for the second day, Indian rupee ended stronger against the US dollar on Wednesday, on continued selling of the US currency by banks and exporters. Traders took some solace with rating agency Crisil’s report that recovery of stressed assets through the Insolvency and Bankruptcy Code (IBC) was two-times at Rs 70,000 crore compared to that through other mechanisms in 2018-19 but resolution timelines for bad loans still remains an issue. However, late hour sell-off in domestic equity market along with dollar’s strength against major global currencies capped the gains. On the global front, euro held at a one-week low on Wednesday, ignoring data from Germany that showed the economy returned to growth in the first quarter, as trade tensions between the world’s two biggest economies cast a shadow over risk appetite.
Finally, the rupee ended at 70.34, 10 paise stronger from its previous close of 70.44 on Tuesday. The currency touched a high and low of 70.39 and 70.17 respectively. The reference rate for the dollar stood at 70.42 and for Euro stood at 79.15 on May 15, 2019. While the reference rate for the Yen stood at 64.25, the reference rate for the Great Britain Pound (GBP) stood at 91.21. 

Manappuram Finance has reported results for the fourth quarter and year ended March 31, 2019.  
The company has reported a rise of 27.98% in its net profit at Rs 213.57 crore for the quarter ended March 31, 2019 as compared to Rs 166.88 crore for the same quarter in the previous year. Total income of the company increased by 18.48% at Rs 892.57 crore for quarter under review as compared to Rs 753.36 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported rise of 43.04% in its net profit at Rs 258.34 crore for the quarter ended March 31, 2019 as compared to Rs 180.61 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 22.43% at Rs 1,103.32 crore for quarter under review as compared to Rs 901.21 crore for the same quarter ended previous year. 
For the year ended March 31, 2019, the company has posted a rise of 14.63% in its net profit at Rs 790.45crore as compared to Rs 689.59 crore for the previous year. Total income of company increased 16.05% at Rs 3,427.18 crore for year under review as compared to Rs 2,953.30 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 37.40% in its net profit at Rs 929.48 crore as compared to Rs 676.48 crore for the previous year. Total income of company increased by 20.11% at Rs 4,178.83 crore for year under review as compared to Rs 3,479.19crore for year ended March 31, 2018.

'Knock the door is the BJP campaign in Varanasi in Uttar Pradesh. The Bharatiya Janata Party (BJP) workers have been directed to knock on every door and seek votes for PM Narendra Modi and urge people to cast their votes on the polling day. This campaign has been initiated to ensure a high percentage of polling in the Prime Minister's constituency on May 19. Over 10,000 BJP leaders and workers from Gujarat, Madhya Pradesh and Delhi have arrived in Varanasi to help in the campaign. A local BJP leader has said that 'Our workers will visit every home in Varanasi with voters' slip and convince people to cast their votes. People usually become complacent when they know that their candidate - PM Narendra Modi in this case - is winning but we are working for a much bigger margin of victory for the Prime Minister'.
The campaign has been started at the behest of BJP President Amit Shah who will be monitoring its progress every day till the campaign ends. Every party worker has been entrusted the responsibility of visiting ten homes. The workers will be required to furnish details of the homes they visit at the party office.
The campaign has been launched even as Congress leaders are making hectic preparations for the scheduled roadshow of Congress General Secretary Priyanka Gandhi on May 15. The BJP workers will follow a similar campaign in the neighboring Chandauli constituency where state BJP President Mahendra Nath Pandey is contesting. He is facing a tough challenge from the SP-BSP alliance candidate Sanjay Chauhan.

Allahabad Bank has reviewed the existing Marginal Cost of Funds Based Lending Rates (MCLRs) and decided for a downward revision of MCLR by 5 basis points (bps) for all the tenors. With this, one year MCLR of the Bank now stands at 8.60% per annum (p.a.),
The Bank has also decreased the overnight, 1 month, 3 month and 6 month MCLR to 8.10% p.a., 8.20% p.a., 8.40% p.a. and 8.45% p.a. respectively. The aforesaid revised rates will be effective from May 14, 2019.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 5.95% from its previous close of 5.92% on Monday as demand remained on the higher side in the first week reporting cycle.
The overnight borrowing rates touched a high and low of 6.05% and 4.50% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 5.90% on Tuesday and total volume stood at Rs 50375.57 crore, so far.
As per CCIL data, WAR in the TREP (Triparty Repo) market was 5.84% on Tuesday total volume stood at Rs 141195.65 crore, so far.
The indicative call rates which closed at 5.92% on Monday, were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far.

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.

SBI Mutual Fund (MF) has launched the SBI Fixed Maturity Plan (FMP)-Series 18 (1108 Days), a close ended debt scheme. The NFO opens for subscription on September 09, 2019 and closes on September 16, 2019. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.
The scheme’s performance will be benchmarked against CRISIL Medium Term Debt index and its fund manager is Ranjana Gupta.
The investment objective of the scheme is 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.

JM Mutual Fund has filed offer document with SEBI to launch  open ended debt scheme named ‘JM Overnight Fund.' The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be nil. The scheme offers growth and dividend option. 
The performance of the scheme will be benchmarked against Crisil Overnight Index. The minimum application amount for initial purchase is Rs 1,000 and in multiples of any amount thereafter.
The investment objective of the scheme is 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.

Union Mutual Fund has filed offer document with SEBI to launch  open ended scheme named ‘ Union Medium Duration Fund.' The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be nil. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 20 crores. 
The performance of the scheme will be benchmarked against CRISIL Medium Term Debt Index. The minimum application amount for initial purchase is Rs 5,000 and in multiples of Re1 thereafter.
The investment objective of the scheme is to generate income and capital appreciation by investing in Fixed Income Securities and Money Market Instruments.

SBI Mutual Fund (MF) has launched the SBI Fixed Maturity Plan (FMP)-Series 17 (1116 Days), a close ended debt scheme. The NFO opens for subscription on August 20, 2019 and closes on August 26, 2019. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.
The scheme’s performance will be benchmarked against CRISIL Medium Term Debt index and its fund manager is Ranjana Gupta.
The investment objective of the scheme is 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.

Baroda Mutual Fund has filed offer document with SEBI to launch open ended equity scheme named ‘Baroda Banking & PSU Bond Fund'. The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be nil. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 20 crore.
The performance of the scheme will be benchmarked by CRISIL Short Term Bond Fund Index. The minimum application amount for initial purchase is Rs 5,000 and Re 1 thereafter.
The investment objective of the scheme is to provide regular income through a portfolio of debt and money market instruments consisting predominantly of securities issued by entities such as Banks, Public Sector Undertakings (PSUs), Public Financial Institutions and Municipal Bonds.

Sundaram Mutual Fund (MF) has launched the Sundaram Equity Fund, an open ended equity scheme. The NFO opens for subscription on August 16, 2019 and closes on August 30, 2019. Entry load is nil and Exit load will be 1%, for redemption within 12 months from the date of allotment and Exit load will be nil, for redemption on or after 12 months from the date of allotment. The minimum subscription amount is Rs 100 and in multiples of Re 1 thereafter.
The scheme’s performance will be benchmarked against S&P BSE 500 TRI Index and its fund managers are Krishnakumar S, S.Bharath, Dwijendra Srivastava and Rohit Seksaria.
The investment objective of the scheme is to generate capital appreciation by investing in a diversified portfolio of equity & equity related instruments across market capitalization.

Tata Mutual Fund (MF) has launched the Tata Nifty Private Bank Exchange Traded Fund, an open-ended exchange traded fund scheme. The NFO opens for subscription on August 16, 2019 and closes on August 29, 2019. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.
The scheme’s performance will be benchmarked against Nifty Private Bank Index (Total Return Index) and its fund manager is Sailesh Jain.
The investment objective of the scheme is to provide returns that is closely correspond to the total returns of the securities as represented by the Nifty Private Bank index, subject to tracking error.

YES Mutual Fund (MF) has launched the YES Overnight Fund, an open ended debt scheme. The NFO opens for subscription on August 19, 2019 and closes on August 20, 2019. No Entry load and Exit load will be applicable for the scheme. The minimum subscription amount is Rs 1000 and in multiples of Re 1 thereafter during the NFO period.
The scheme’s performance will be benchmarked against CRISIL Overnight Index and its fund manager is Piyush Baranwal.
The investment objective of the scheme is to generate returns commensurate with low risk and providing high level of liquidity, through investments made in overnight securities having maturity of 1 business day.

Eurozone quarterly economic growth rate doubled in the first three months of the year, preliminary flash data from the statistical office Eurostat showed on Tuesday. Gross domestic product increased 0.4% from the fourth quarter of 2018 when the economy expanded 0.2%. The pace of growth was the strong

The US Dollar index eased in last couple of sessions as a slide from 22 month high extended. The index fell to a one week low of 97.60 today but could cut the losses given the feeble undertone in economic data in other major economies. Eurozone economic sentiment weakened for a tenth straight month.

Large base metals speculators decreased their bullish net positions in the Copper futures markets this 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.

COMEX Gold futures saw mixed movement in thin trades today as the markets focused on the FOMC meeting. The FOMC is expected to confirm market expectations that the Federal Reserve (Fed) will remain on hold for the rest of the year, according to a latest update from the World Gold Council (WGC). This will likely influence gold’s performance. The WGC noted that historical analysis showed that when the Fed has shifted from a tightening to a neutral stance, gold prices have increased, even if this effect has not always been immediate. The combination of rangebound US interest rates, a slowdown in the appreciation of the US dollar and continued market risks will continue to make gold attractive to investors.
The WGC believes that the 20 March FOMC meeting, which will include the Fed’s projections report, will provide more clarity about their monetary policy expectations which, in turn, will offer further guidance about gold’s performance this year. Current bond prices reflected by the market, which tend to accurately include interim cues from the Fed, are signaling that the Fed will most likely be on hold during 2019 – and has a chance of a cut (15%) for the first time in several years.
The US dollar is under pressure ahead of the FOMC meet. The dollar index tested three week low near 95.70 yesterday and currently quotes flat at 95.86. COMEX Gold currently trades flat at $1306 per ounce. MCX Gold futures are trading at Rs 31816 per 10 grams, down 0.45% on the day as the slide under Rs 32K stayed in place. The counter tested a low of Rs 31725 per 10 grams before witnessing a recovery.

COMEX Copper futures rose further today, hitting a fresh eight month high as strong equities clubbed with positive cues from Chinese economy boosted the sentiments. The red metal has been in a good mood recently and extended upside as global stocks edged up on positive Chinese factory gauges and signs of progress in China-US trade talks. The red metal currently trades at $2.95 per ounce, up 0.61% on the day. MCX Copper futures are trading at Rs 453.40 per kg, up 0.52% on the day. Meanwhile, China's factory activity rose after a 4-month lull with the official Purchasing Managers Index (PMI) coming in at 50.5 in March from 49.2 in February. Another survey, the Caixin/Markit Manufacturing PMI came in at 50.8, the strongest expansion in eight months.

Strong demand was seen in chana due to miller’s buying in local mandies. The market sources stated that the daily arrivals were reported in the range of 10 motors. The sources are expecting chana production in the range of 9-9.20 million tonnes in 2019 against government’s estimates of 10.50 million tonnes. The chana prices in Lawrence Road have been reported at Rs 4355-4360 per quintal.

Eurozone's economic sentiment fell to 105.5 in March from 106.2 in February, for the ninth month in row, survey data from the European Commission showed on Thursday. The weakening was led by industry and services. The industrial confidence index dropped to -1.7 from -0.4, and the services measure fell to 11.3 from 12.1. The consumer confidence index improved to -7.2 from -7.4, in line with its flash estimate. Sentiment modestly improved in the retail and construction sectors, while the morale surged in the financial services industry. Separately, the European Commission reported that the business climate indicator for the euro area decreased 0.16 points to 0.69 in March.

Sluggish offtake has reduced prices of soya oil market. The spot prices were trading down at Rs 776 per kg, down 0.25 percent. The prices were also supported by heavy imports of palm oil at local trading stations. As per the latest release by Solvent Extractors' Association of India (SEA OF India), the import data of Vegetable Oils (edible & non-edible) for the month of February 2019 is reported at 1,242,533 tons compared to 1,157,044 tons in February 2018, consisting 1,182,062 tons of edible oils and 60,471 tons of non-edible oils i.e. up by 7.4%. The overall import of vegetable oils during November 2018 to February 2019 is reported at 4,862,849 tons compared to 4,785,778 tons i.e. up by 1.61%, thanks to higher import duty.

NSE gauge -- Nifty50 traded with a negative bias throughout the day and ended the session with cut of over a percent as traders were concerned with report that as against a steep 17.5 percent higher tax collection budgeted for FY20, the government could mop-up only 4.7 percent more so far this year, with the direct tax kitty growing to Rs 5.50 lakh crore as of September 17, up from Rs 5.25 lakh crore a year-ago. The lower mop-up reflects the deepening slump in demand and overall growth. Sentiments remained in lackadaisical mood with the report that India’s slowdown and a simmering shadow banking crisis is putting Prime Minister Narendra Modi’s goal of crafting a $5 trillion economy by 2025 at risk.
Market witnessed a sharp losses in the last trading hours, as sentiment on the street weakened with the India Meteorological Department’s (IMD) report that monsoon rains in India in the week to September 18 were above average for a third straight week, with floods hitting many districts in the central parts of the country and damaging crops such as soybean and pulses. Market participants failed to take any sense of relief with report that Niti Aayog CEO Amitabh Kant’s statement that the government is doing everything possible to turn around the Indian economy and bring it back to a high trajectory growth path.
All the NSE sectoral indices ended in red. The top gainers from the F&O segment Vodafone Idea, Tata Motors and ICICI Prudential Life Insurance Company. On the other hand, the top losers were Yes Bank, Reliance Capital and Dish TV India. In the index option segment, maximum OI continues to be seen in the 10,800 11,300 calls and 10,700- 10,900 puts indicating this is the trading range expectation.India Volatility Index (VIX), a gauge for market’s short term expectation of volatility increased by 1.29% and reached 15.55.The 50 share Nifty was down by 135.85 points or 1.25% to settle at 10,704.80.
Among, Nifty calls, 10,900 SP from the September month expiry was the most active call with an addition of 0.86 million open interests. Among Nifty puts, 10,700 from the September month expiry was the most active put with a contraction of 0.67 million open interests. The maximum OI outstanding for Calls was at 11,000 SP (4.48 mn) and that for Puts was at 10,800 SP (3.49 mn). The respective Support and Resistance levels of Nifty are: Resistance 10,809.92 -- Pivot Point 10,740.08 -- Support -- 10,634.97.
The Nifty Put Call Ratio (PCR) finally stood at 0.89 for September month contract. The top five scrips with highest PCR on Ramco Cements (1.46), Muthoot Finance (1.33), Godrej Consumer Products (1.33),Shree Cement (1.29) and Bosch (1.21).
Among most active underlying, Reliance Industries witnessed an addition of 2.77 million units of Open Interest in the September month futures contract, followed by State Bank of India witnessing an addition of 5.90 million units of Open Interest in the September month contract, Axis Bank witnessed an addition of 3.73 million units of Open Interest in the September month contract, Housing Development Finance Corporation witnessed an addition of 1.51 million units of Open Interest in the September month contract and ICICI Bank witnessed an addition of 8.11 million units of Open Interest in the September month future contract. 

       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]