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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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Goldstone Infratech jumps on big order for pure electric buses

Feb 27 2017 7:19PM

On the BSE, 66,000 shares were traded on the counter so far as against the average daily volumes of 50,967 shares in the past one quarter. The stock had hit a high of Rs 47.85 and a low of Rs 46.50 so far during the day.
The stock had hit a 52-week high of Rs 51.50 on 21 February 2017 and a 52-week low of Rs 15.45 on 28 March 2016. It had outperformed the market over the past one month till 23 February 2017, surging 61.7% compared with the Sensex's 6.55% rise. The scrip had also outperformed the market over the past one quarter, advancing 77.43% as against the Sensex's 10.91% rise.
The small-cap company has equity capital of Rs 14.43 crore. Face value per share is Rs 4.
Goldstone Infratech announced that it has bagged its second order for supply of twenty five pure electric buses to Himachal Road Transport Corporation (HRTC), Shimla, at a price of Rs 47.75 crore excluding AMC charges.
Goldstone has successfully completed trials of Midi electric bus in Manali-Rohtang pass. Goldstone shall be assembling these buses in India in tie up with BYD Auto, China. The bus will be designed in India and the bus body shall be fully built in India, the company said.
Goldstone Infratech had received its first order for supply of six pure electric buses to Brihan Mumbai Electricity Supply and Transport (BEST) undertaking, Mumbai.
Goldstone Infratech's net profit rose 35.6% to Rs 1.18 crore on 29.7% growth in net sales to Rs 23.35 crore in Q3 December 2016 over Q3 December 2015.
Goldstone Infratech is one of leading manufacturers for silicone rubber insulators for power transmission and distribution networks and supplies to large transmission & distribution companies and railways/metro rails in India and overseas.

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Cadila Healthcare gains after receiving USFDA approval for anti viral drug

Feb 27 2017 7:18PM

On the BSE, 93,437 shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 443 and a low of Rs 432.50 so far during the day. The stock had hit a record high of Rs 460 on 17 February 2017. The stock had hit a 52-week low of Rs 305 on 12 April 2016.
The stock had outperformed the market over the past one month till 23 February 2017, advancing 20.45% compared with the Sensex's 6.55% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 9.69% as against the Sensex's 10.91% rise.
The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.
Cadila Healthcare announced that Nesher Pharmaceuticals, a subsidiary of Zydus Pharmaceuticals USA has received final approval from the United States Food & Drug Administration (USFDA) to market Oseltamivir Phosphate Capsules, USP in strengths of 30mg, 45mg and 75mg.
The drug will be produced at the Nesher Pharmaceuticals USA manufacturing facility located at St. Louis, MO, USA. It is an anti viral used in the prevention and treatment of influenza virus infection. The estimated sales of capsules was $382 million as per IMS December 2016 data.
The group has also received the final approval from the USFDA to market Linezolid Tablets USP, 600 mg. The drug is an anti-bacterial agent used to treat certain serious bacterial infections and will be produced at the group's formulations manufacturing facility in the Pharma SEZ in Ahmedabad.
Cadila Healthcare's consolidated net profit fell 34.6% to Rs 281.60 crore on 0.8% decrease in net sales to Rs 2249.60 crore in Q3 December 2016 over Q3 December 2015.
Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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Radico Khaitan gains on report of stake sale

Feb 22 2017 9:00AM


Trading was volatile on the counter. The stock jumped 6.46% to hit the day's high of Rs 142.50 so far during the day. The stock hit a low of Rs 131.05 so far during the day.
The stock hit a 52-week high of Rs 151 on 1 November 2016. The stock hit a 52-week low of Rs 84 on 24 May 2016.
The small-cap company has equity capital of Rs 26.61 crore. Face value per share is Rs 2.
Radico Khaitan, however, clarified to the bourses during tradiing hours today, 21 February 2017, that the news item is factually incorrect and the company is not aware of any information that has not been announced to the stock exchanges, which could explain the movement in the trading of the company's shares.
Net profit of Radico Khaitan declined 22.35% to Rs 19.70 crore on 3.40% rise in net sales to Rs 405.89 crore in Q3 December 2016 over Q3 December 2015.
Radico Khaitan is one of the largest players in the Indian spirits industry. Radico Khaitan operates three distilleries and one joint venture with total capacity of 150 million litres. It also has 33 bottling units spread across the country.

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Bharat Electronics gains after outperform rating by foreign brokerage

Feb 22 2017 9:00AM

The stock had hit a record high of Rs 1,624.30 on 30 January 2017 and a 52-week low of Rs 1,009 on 1 March 2016. The stock had underperformed the market over the past one month till 20 February 2017, advancing 4.07% compared with the Sensex's 6.02% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 17.2% as against the Sensex's 9.6% rise.
The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.
The brokerage's target price of Rs 1,800 is at a premium of 15.07% over Bharat Electronics' ruling market price.
Bharat Electronics' net profit rose 33.3% to Rs 373.54 crore on 32.9% growth in net sales to Rs 2091.47 crore in Q3 December 2016 over Q3 December 2015.
Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.
The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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APM Industries jumps after subsidiary bags NBFC license

Feb 21 2017 5:53PM


The stock hit a record high of Rs 76.85 on 10 November 2016. The stock hit a 52-week low of Rs 48.50 on 29 February 2016.
The small-cap company has equity capital of Rs 4.32 crore. Face value per share is Rs 2.
APM Industries announced that the Reserve Bank of lndia (RBI) has granted a non-banking finance company (NBFC) license to the company's wholly-owned subsidiary, APM Finvest.
The board of directors of the company had in their meeting held on 29 January 2016 decided to enter into the business of finance, lending and investment business through a wholly owned subsidiary and hence the company incorporated APM Finvest and applied for the NBFC license.
APM Industries' net profit fell 67.5% to Rs 1.78 crore on 29% decline in net sales to Rs 51.78 crore in Q3 December 2016 over Q3 December 2015.
APM Industries is engaged in the manufacture of synthetic blended (polyester, viscose and acrylic) yarn.

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Bharat Electronics gains after outperform rating by foreign brokerage

Feb 21 2017 5:52PM


The stock had hit a record high of Rs 1,624.30 on 30 January 2017 and a 52-week low of Rs 1,009 on 1 March 2016. The stock had underperformed the market over the past one month till 20 February 2017, advancing 4.07% compared with the Sensex's 6.02% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 17.2% as against the Sensex's 9.6% rise.
The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.
The brokerage's target price of Rs 1,800 is at a premium of 15.07% over Bharat Electronics' ruling market price.
Bharat Electronics' net profit rose 33.3% to Rs 373.54 crore on 32.9% growth in net sales to Rs 2091.47 crore in Q3 December 2016 over Q3 December 2015.
Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.
The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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Radico Khaitan gains on report of stake sale

Feb 21 2017 5:52PM

Trading was volatile on the counter. The stock jumped 6.46% to hit the day's high of Rs 142.50 so far during the day. The stock hit a low of Rs 131.05 so far during the day.
The stock hit a 52-week high of Rs 151 on 1 November 2016. The stock hit a 52-week low of Rs 84 on 24 May 2016.
The small-cap company has equity capital of Rs 26.61 crore. Face value per share is Rs 2.
Radico Khaitan, however, clarified to the bourses during tradiing hours today, 21 February 2017, that the news item is factually incorrect and the company is not aware of any information that has not been announced to the stock exchanges, which could explain the movement in the trading of the company's shares.
Net profit of Radico Khaitan declined 22.35% to Rs 19.70 crore on 3.40% rise in net sales to Rs 405.89 crore in Q3 December 2016 over Q3 December 2015.
Radico Khaitan is one of the largest players in the Indian spirits industry. Radico Khaitan operates three distilleries and one joint venture with total capacity of 150 million litres. It also has 33 bottling units spread across the country.

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SBT to raise up to Rs 600 cr ahead of merger with SBI

Feb 20 2017 9:14AM

State Bank of Travancore (SBT) will raise up to Rs 600 crore to shore up additional tier-I capital by issuing Basel compliant bonds on private placement. The development comes ahead of its proposed merger with parent SBI.
The bank got approval of its executive committee on Saturday to raise the money, which will be augment its additional tier-I capital.
"The executive committee of the board of directors of the bank at its meeting held on February 18, 2017 has approved the raising of up to Rs 600 crore by way of issue of Basel-III compliant additional tier-I bonds by private placement," SBT said in a regulatory filing.
On Wednesday, the Union Cabinet cleared the proposal to merge State Bank of India (SBI) with five of its associate banks -- three of which are listed and other two unlisted.
State Bank of Bikaner and Jaipur (SBBJ) and State Bank of Mysore (SBM) apart from SBT, are the three listed entities, while State Bank of Patiala and State Bank of Hyderabad are unlisted.
However, there is time for the amalgamation to take shape as the complex merger process entails share swap as well as employee issues, among others.
Banks in India are augmenting their tier-I capital, to gradually align themselves with global Basel-III Capital Regulations to strengthen capital planning by creating buffer against potential stresses on asset quality and consequential impact on performance and profitability.
The standards are being implemented in phases since April 1, 2013 by Indian banks.
India is expected to get fully compliant with Basel-III standards by March 2019. This will align full implementation of Basel-III for Indian banks closer to the internationally agreed date of January 1, 2019.

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Reliance Infrastructure intimates of incorporation of Dassault Reliance Aerospace

Feb 16 2017 2:37PM

Reliance Infrastructure promoted Reliance Aerostructure's Joint Venture (JV) with Dassault Aviation DASSAULT RELIANCE AEROSPACE (DRAL) has been incorporated.Eric Trappier, Chairman of Dassault Aviation France, will be the Chairman, and Anil D Ambani, Chairman of Reliance Group, will be the Co-Chairman of DRAL.
Reliance Aerostructure (RAL) will have 51% shareholding in the JV, while Dassault Aviation (DA) will hold 49%.
On 23 September 2016, India and France signed a purchase agreement for supply of 36 Rafale fighter jets at a value of €7.87 billion, or about Rs.60,000 crore. The contract includes a 50% offset obligation to the tune of approximately Rs. 30,000 crore, which is the largest ever offset contract in the history of India. DRAL will be a key player in the execution of offset obligations.
DRAL has finalized the Infrastructure requirements at Dhirubhai Aerospace Park at Mihan, Nagpur and the construction work for the greenfield facility will start in May 2017, and production by end-2017.
DRAL will execute the programs in phases, with Phase I resulting in the generation of more than 700 highly-skilled direct jobs and 2,800 indirect jobs.

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Super Crop Safe receives GMP Certificate

Feb 16 2017 2:36PM

Super Crop Safe has received from GMP (Good Manufacturing Practice) Certificate no: G-RS-1702-1587 issued on 02 February 2017 and valid till 01 February 2020 after successful inspection of manufacturing facilities of Nutraceuticals - Spirulina Powder, Tablet, Capsules and other Spirulina based Formulations and Compliance with the requirement of the GMP (Good Manufacturing Practice). This will facilitate the Company to expand market ofNutraceuticals- Spirulina Po wder, Tablet, Capsules and other Spirulina based Formulations in domestic as well as international market.

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IL&FS Engineering & Construction Co secured two pipeline laying contract worth Rs 123.05 crore

Feb 16 2017 2:36PM

IL&FS Engineering & Construction Co has received Fax of Acceptance from Gas Authority of India for two pipeline laying contracts worth Rs 123.05 crore (plus Service Tax) in Kerala and Karnataka. Both the spreads are contiguous and are part of Kochi-Koottanad- Mangalore pipeline project.


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Viceroy Hotels appoints compliance officer

Feb 14 2017 2:01PM

Viceroy Hotels announced that Sonam Jaiswal, a qualified Company Secretary, has been appointed as the Compliance Officer of the Company with effect from 13 February 2017, as informed in the Outcome of Board Meeting dated 13 February 2017.



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Loyal Equipments secures order worth Rs 1.46 crore

Feb 14 2017 2:00PM

Loyal Equipments has received an order from Burckhardt Compression Holding AG, Switzerland (through its Indian company “Burckhardt Compression (India)) of worth Rs. 1.46 crore for supply of Process Skid Package & Pressure Vessels for Bharat Oman Refinery (BORL) under consultant of Engineers India (EIL).

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Prime Securities allots 41800 equity shares

Feb 10 2017 12:56PM

Prime Securities announced that the Board of Directors of the Company, vide a resolution passed by circulation on 09 February 2017, has allotted 41,800 equity shares of face value of Rs. 5/- each to employees, pursuant to the exercise of the Options granted to them under the Employee Stock Option Scheme 2008 ("ESOS 2008"), at an exercise price of Rs. 15/- per equity share.

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Ajmera Realty & Infra India provides update on subsidiary - Ajmera Clean Green Energy

Feb 10 2017 12:55PM

Ajmera Realty & Infra India announced that its subsdiary, Ajmera Clean Green Energy (ACGL) has agreed to sell its entire 49% stake in associate Company, Comet Power (CPPL) to Ramesh A. Mehta Group for a consideration of Rs.16.92 crore.The Comet Power had Loss of Rs.3.67 Lakhs for the financial year ended 31 March 2016. Thus, sale of Power Business will not have any impact in the Profit of the Company. The sale proceeds of stake in CPPL will be deployed in the Company for core Real Estate business. The Comet Power Private Limited ceases to be associate Company of ACGL after completion of the transaction, which shall be completed on or before March 31, 2016. None of the Promoters are interested in the said transaction and it is not a related party transaction for the Company.

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Adani Power allots 2,75,57,619 equity shares

Feb 9 2017 4:05PM

Adani Power announced BSE that the convertible warrant holders, to whom the warrants were allotted in the month of May, 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, Management Committee of the Board of Directors of the Company at its meeting held on 09 February 2017 has made allotment of total 2,75,57,619 Equity Shares of the face value of Rs. 10/- each (with a premium of Rs. 22.54 per equity share) to the said convertible warrant holders.

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ICICI Prudential Mutual Fund announces 0.01% dividend

Feb 21 2017 5:40PM

ICICI Prudential Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “ICICI Prudential Money Market Fund - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was February 16. The latest NAV of the scheme is Rs 100.11. The investment objective of the open ended liquid fund scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made in money market securities. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Aditya Pagaria is the fund manager of the scheme.

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0.04% Div announced by Birla Sun Life Mutual Fund

Feb 21 2017 5:39PM

Birla Sun Life Mutual Fund has announced 0.04 per cent dividend under dividend payout option of scheme named as “Birla Sun Life Cash Plus - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was February 17.The latest NAV of the scheme is Rs 163.69. The investment objective of the open ended liquid fund scheme is to provide reasonable returns at a high level of safety and liquidity through judicious investments in high quality debt and money market instruments. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Kaustubh Gupta is the fund manager of the scheme.

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Indiabulls MF Announces introduction of dividend options under its schemes

Feb 16 2017 2:37PM

Indiabulls Mutual Fund has decided to introduce new dividend options in addition to existing dividend option and rename existing dividend option offered for subscription under regular plan & direct plan of Indiabulls Blue Chip Fund, Indiabulls Arbitrage Fund and Indiabulls Value Discovery Fund, with effect from 01 March 2017.Accordingly, the proposed changes are:
Indiabulls Blue Chip Fund: Dividend Option (Payout & Reinvestment), Monthly Dividend Option (Payout & Reinvestment), Quarterly Dividend Option (Payout & Reinvestment) and Half Yearly Dividend Option (Payout & Reinvestment).
Indiabulls Arbitrage Fund: Monthly Dividend Option (Payout & Reinvestment), Quarterly Dividend Option (Payout & Reinvestment), Half Yearly Dividend Option (Payout & Reinvestment) and Yearly Dividend Option (Payout & Reinvestment).
Indiabulls Value Discovery Fund: Dividend Option (Payout & Reinvestment), Monthly Dividend Option (Payout & Reinvestment), Quarterly Dividend Option (Payout & Reinvestment) and Half Yearly Dividend Option (Payout & Reinvestment).

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Birla Sun Life Fixed Term Plan – Series OD (1145 days) Floats On

Feb 16 2017 2:37PM

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Fixed Term Plan – Series OD (1145 days), a close ended income scheme. The tenure of the scheme is 1145 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 only on 16 February 2017.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 (excluding money market instruments), invest upto 20% of assets in money market instruments with low to medium risk profile and invest upto 20% of assets in government securities with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be 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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Mahindra Mutual Fund Alp Samay Bachat Yojana Floats On

Feb 14 2017 2:04PM

Mahindra Mutual Fund has launched a new fund named as Mahindra Mutual Fund Alp Samay Bachat Yojana, an open 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 14 February and close on 15 February 2017.The investment objective of the Scheme is to provide reasonable returns, commensurate with a low to moderate level of risk and high degree of liquidity, through a portfolio constituted of money market and debt instruments.
The scheme offers two options viz. growth and dividend option under both regular and direct plan.
The scheme would allocate 70%-100% of assets in money market & debt instruments with maturity / residual maturity less than or equal to 1 year with low risk profile and invest upto 30% of assets in debt instruments with maturity / residual maturity greater than 1 year and units of mutual fund schemes with low to medium risk profile. Debt instruments includes Securitized debt upto 30% and investments in derivatives upto 50% of the net asset of the scheme.
The minimum application amount is Rs 1000 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: Not applicable.
Exit load: Nil
Benchmark Index for the scheme is CRISIL Liquid Fund Index
The fund manager for the scheme is Rahul Pai

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IDFC Credit Opportunities Fund Floats On

Feb 14 2017 2:03PM

IDFC Mutual Fund has launched a new fund named as IDFC Credit Opportunities Fund, an open ended income scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 February to 27 February 2017.The investment objective of the scheme is to generate returns by predominantly investing in a portfolio of corporate debt securities across the credit spectrum within the investment grade.
The scheme offers regular plan & direct plan. Both the plans under the scheme offer dividend option & growth option. Dividend option under both the plans further offers payout, reinvestment & sweep facility.
The scheme will allocate upto 100% of assets in debt securities (including G-Sec) across maturities & ratings with medium to high risk profile and money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and any amount thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Nil.
Exit load: 2%, if redeemed / switched out within 12 months from the date of allotment, 1% if redeemed after 12 months but within 24 months from the date of allotment and Nil if redeemed after 24 months from the date of allotment.
The performance of the scheme will be benchmarked against AA Medium Term Bond Index (80%) + AAA Short Term Bond Index (20%)
The fund manager of the scheme is Arvind Subramanian.


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ICICI Prudential Capital Protection Oriented Fund – Series XI – 1255 Days Plan C Floats On

Feb 10 2017 12:52PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Capital Protection Oriented Fund – Series XI – 1255 Days Plan C, a close ended capital protection oriented scheme. The tenure of the scheme is 1255 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 10 February and will close on 23 February 2017.The investment objective of the scheme is to seek to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the plan under the scheme.
The scheme offers regular plan – cumulative option, direct plan – dividend option, regular plan – cumulative option and regular plan – dividend option.
The scheme would allocate 65%-100% of assets in debt securities & money market instruments with low to medium risk profile and invest upto 35% of assets in equity and equity related securities with medium to high risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be not applicable.
The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index (85%) and Nifty 50 (15%) Index
The fund managers of the scheme are Vinay Sharma, Chandni Gupta, Rahul Goswami and Ihab Dalwai (For investments in ADR / GDR and other foreign securities).

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0.08% Div announced by Tata Mutual Fund

Feb 10 2017 12:52PM

Tata Mutual Fund has announced 0.08 per cent dividend under dividend payout option of scheme named as “Tata Money Market Fund - Retail Plan” on the face value of Rs 1000 per unit. The record date for the dividend was February 07. The latest NAV of the scheme is Rs 1015.19. The investment objective of the open ended liquid fund scheme is to create a highly liquid portfolio of money market instruments so as to provide reasonable returns & high liquidity to the unitholders. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Amit Somani is the fund manager of the scheme.
HDFC Fixed Maturity Plan 1155D February 2017 (1) Floats On
HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1155D February 2017 (1), a plan under HDFC Fixed Maturity Plans – Series 37 (a close-ended income scheme). The tenure of the scheme is 1155 days from the date of allotment of units. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription only on 15 February 2017.The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan.
The plan shall offer three options – growth, dividend and flexi option. The plan would invest 80%-100% of assets in debt instruments & government securities with medium risk profile and invest upto 20% of assets in money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be not applicable for the plan.
Benchmark Index for the plan is CRISIL Composite Bond Fund Index.
The fund managers of the scheme are Anil Bamboli & Rakesh Vyas (Dedicated fund manager for overseas investments).

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White metal loses shine on weak overseas cues

Feb 21 2017 5:38PM

Silver futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal as safe-haven demand faded amid firm US dollar against a basket of other currencies.
The greenback remained firm ahead of a clutch of speeches from US Fed officials this week for clues on the timing of possible interest rate hikes. At least 5 Federal Reserve officials are due to speak, while Fed Board Governor Jerome Powell appears on Wednesday.
Meanwhile, Cleveland Fed chief Loretta Mester said on Monday that she would be comfortable raising interest rates at this point if the economy kept performing the way it did.
At the MCX, silver futures for March 2017 contract is trading at Rs 42,510 per kg, down by 0.91 per cent, after opening at Rs 42,810, against a previous close of Rs 42,900. It touched the intra-day low of Rs 42,448



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Copper futures drop on dollar

Feb 21 2017 5:37PM

Copper futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on strength in the US dollar.
However, ongoing supply worries from industrial action in Chile and an Indonesian export permit dispute supported copper prices.
A stronger greenback erodes buying power for those paying for dollar-denominated commodities with other currencies.
At the MCX, copper futures for February 2017 contract is trading at Rs 404.25 per kg, down by 0.20 per cent, after opening at Rs 404.70, against a previous close of Rs 405.05. It touched the intra-day low of Rs 403.25

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Yellow metal shines on global cues

Feb 16 2017 2:40PM

Gold futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal as the US dollar gave up gains.
Republican lawmakers on Wednesday criticized Fed Chair Janet Yellen's stewardship of the US economy and urged her to halt work on financial regulation until President Donald Trump names new policymakers to the central bank.
At the MCX, gold futures for April 2017 contract is trading at Rs 29227 per 10 grams, up by 0.29 per cent, after opening at Rs 29195, against a previous close of Rs 29143. It touched the intra-day high of Rs 29250

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Crude oil futures flat on OPEC cuts

Feb 16 2017 2:39PM

Crude oil futures were trading flat during afternoon trade in the domestic market on Thursday as investors and speculators remained on the sidelines in the energy commodity after rising US crude oil inventories but supported by ongoing supply cuts by Organization of the Petroleum Exporting Countries (OPEC) members.
According to American Petroleum Institute (API) inventory report published on Tuesday afternoon, US crude oil inventories increased yet again by 9.94 million barrels.
While, OPEC and other producers including Russia have agreed to cut production by almost 1.8 million bpd during the first half of 2017, and estimates suggest compliance by OPEC is around 90 per cent. These cuts are aimed at reining in a global crude supply overhang that has dogged markets for over 2 years.
At the MCX, crude oil futures for February 2017 contract is trading flat at Rs 3551 per barrel after opening at Rs 3550, against a previous close of Rs 3551. It touched the intra-day low of Rs 3544 

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Sluggish physical demand drags down mentha oil futures by 0.52%

Feb 14 2017 1:53PM

Mentha oil futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the agri-commodity amid slide in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, trimming of positions by traders in the spot market was due to fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions, influenced mentha oil prices at futures trade. At the MCX, mentha oil futures for February 2017 contract is trading at Rs 1039.50 per kg, down by 0.52 per cent, after opening at Rs 1046.60, against the previous closing price of Rs 1044.90. It touched the intra-day low of Rs 1038.6

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Aluminium futures keep head above water

Feb 14 2017 1:53PM

Tuesday as investors and speculators build up fresh bets in the industrial metal amid increase in physical demand for aluminium at the domestic spot market. Further, a surge in physical demand for aluminium at the domestic spot market was led by widening of positions by traders in the spot markets, supported aluminium prices at futures trade. At the MCX, aluminium futures for February 2017 contract is trading at Rs 125.60 per kg, up by 0.44 per cent, after opening at Rs 125.75, against a previous close of Rs 125.05. It touched the intra-day high of Rs 125.7

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Lead futures little changed as demand picks up

Feb 14 2017 1:52PM

Lead futures little changed during morning trade in the domestic market on Tuesday as investors and speculators build up fresh bets in the industrial metal amid increase in physical demand for lead, from battery-makers, in the domestic spot market. Further, an upward trend in physical demand from battery-makers in the domestic spot market, supported prices of lead at futures trade. At the MCX, lead futures for February 2017 contract is trading at Rs 162.30 per kg, up by 0.03 per cent, after opening at Rs 163.75, against a previous close of Rs 162.25. It touched the intra-day high of Rs 163.75

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Copper futures rise on increasing demand

Feb 10 2017 12:51PM


Copper futures were trading higher during afternoon trade in the domestic market on Friday on the back of a firm overseas trend and increased domestic demand.
Market analysts said besides increased demand from consuming industries, a firm trend in base metals at the LME as strengthening prospects of disruptions at the world s two largest mines threatened to send the market into a global shortage, mainly influenced copper prices at futures trade.
At the MCX, copper futures for February 2017 contract is trading at Rs 395.40 per kg, up by 1.23 per cent, after opening at Rs 392, against a previous close of Rs 390.60. It touched the intra-day high of Rs 395.60

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Post-Session: Sensex settles lower; Nifty below 8900

Feb 27 2017 5:04PM

Indian equity benchmarks traded on a weak note for most part of the day and closed in red as investors took cautious approach ahead of US President Donald Trump’s first speech in US Congress scheduled on Tuesday. The Nifty drifted below 8900-mark and snapped 6-days winning streak despite market heavyweight Reliance Industries surged to more than seven-and-a-half-year high on continued hopes about its telecom unit. The equity benchmarks made a cautious start in early deals in absence of any positive domestic triggers. The sentiments turned pessimistic with the economic think-tank National Council of Applied Economic Research (NCAER) report which lowered the country’s growth forecast to 6.9 percent for the current fiscal on account of demonetization. A few days before demonetization was announced, NCAER had projected a growth rate of 7.6 percent for 2016-17. According to NCAER, the growth rate would rebound to 7.3 percent for 2017-18. The Gross Value Added (GVA) at Basic Prices at constant (2011-12) prices is predicted to grow at 6.3 percent in 2016-17 and 7 percent in 2017-18. Some selling also crept in as weakness was witnessed in select banking stocks after a media report said that the oil ministry received several complaints over the past few weeks, claiming banks were still imposing fees on debit card transactions for fuel despite a clear instruction from the government not to do so. Separately, the second official estimate of GDP growth due on Tuesday is likely to show the economy expanded below 7% in FY17, tripped by the November 8 demonetization that dented the consumption demand. The Central Statistics Office’s first estimate released on January 6 pegged growth at 7.1% in FY17, but it did not include the impact of demonetization.
On the global front, Asian markets closed lower, ahead of US President Donald Trump’s speech to a joint session of Congress on Tuesday, where he is expected to unveil some elements of his plans to cut taxes. China’s blue chips posted their biggest single-day loss in two months after the securities regulator vowed to step up its campaign against speculation and hinted about loosening its grip on new share offerings. China’s trade deficit in services narrowed to $20.9 billion in January from $26.1 billion in December. January’s deficit was largely due to a $19.7 billion gulf in spending between foreign tourists and the Chinese, who splurge more abroad than foreign tourists in China. European stocks were trading on mixed note as investors digested company headlines and showed concern over a possible new call for a referendum in Scotland.
Back home, telecom stocks Idea Cellular, Bharti Airtel, Reliance Communications and MTNL closed in red on escalating telecom war among service providers. Bharti Airtel has reportedly decided to do away with national roaming charges for voice and data services, a move that is sure to benefit its 268 million users, in order to take on Mukesh Ambani’s Reliance Jio Infocomm.
The BSE Sensex ended trading at 28825.03, down by 67.94 points or 0.24% after trading in a range of 28791.19 and 28961.83. There were 9 stocks advancing against 21 stocks declining on the index. (Provisional)
The broader indices ended in green; the BSE Mid cap index was up by 0.04%, while Small cap index was up by 0.12%. (Provisional)
The top gaining sectoral indices on the BSE were Energy up by 1.81%, Oil & Gas up by 0.72%, IT up by 0.38% and Healthcare up by 0.20%, while Telecom down by 2.73%, Bankex down by 1.34%, Auto down by 0.96%, Power down by 0.88% and Utilities down by 0.74% were the losing indices on BSE. (Provisional)
The top gainers on the Sensex were Reliance Industries up by 4.56%, Wipro up by 0.75%, Hindustan Unilever up by 0.66%, Coal India up by 0.53% and Lupin up by 0.46%. (Provisional)
On the flip side, Axis Bank down by 3.54%, Power Grid down by 3.31%, Bharti Airtel down by 2.80%, ICICI Bank down by 1.76% and Maruti Suzuki down by 1.55% were the top losers. (Provisional)
Meanwhile, following government’s decision to phase out the Foreign Investment Promotion Board (FIPB), the Reserve Bank of India (RBI) is likely to frame standard operating procedure (SOP) for approval of foreign direct investment (FDI) proposals by ministries.  The government has taken decision to abolish FIPB and form a new mechanism with an aim to improve ease of doing business and to remove an additional layer in the form of FIPB which is no longer required. RBI is the nodal agency for administration of foreign investments and foreign exchange.
Once the FIPB is abolished, the onus of approving FDI proposals would be on the ministries and regulatory authorities concerned, hence in a recent inter-ministerial meeting, the committee discussed on the proposal for setting up norms for FDI approvals in sensitive sectors, which are currently under government approval of the FDI policy. It has also discussed the possibility of approving the FDI proposals along with grant of licences. The committee has pointed that in the sensitive sectors like defence and telecom, companies having licences can only seek foreign investments.
Further, the committee noted that the government may request RBI to prepare the standard operating procedure for every ministry and the Home Ministry could be asked to vet the FDI proposals from Pakistan and Bangladesh. All these issues are under discussions of the committee formed by the government, which includes representatives from the RBI, Finance Ministry, the Department of Industrial Policy and Promotion, and the Home Affairs Ministry. The committee is expected to submit its report within two months which will give guidelines on FDI approval procedures in the sensitive sectors.
The CNX Nifty is currently trading at 8896.45, down by 43.05 points or 0.48% after trading in a range of 8888.65 and 8951.80. There were 9 stocks advancing against 42 stocks declining on the index. (Provisional)
The top gainers on Nifty were Reliance Industries up by 4.63%, Aurobindo Pharma up by 2.11%, Lupin up by 0.97%, Hindustan Unilever up by 0.78% and Coal India up by 0.67%. (Provisional)
On the flip side, Idea Cellular down by 4.39%, Axis Bank down by 3.65%, Power Grid down by 3.34%, Bharti Infratel down by 3.12% and Zee Entertainment down by 2.84% were the top losers. (Provisional)
The European markets were trading mostly in green; UK’s FTSE 100 increased 13.46 points or 0.19% to 7,257.16, Germany’s DAX increased 4.37 points or 0.04% to 11,808.40, while France’s CAC decreased 3.66 points or 0.08% to 4,841.58.
Asian equity markets ended lower on Monday as lower commodity prices weighed on resource stocks and caution crept in ahead of US President Donald Trump's speech to Congress on Tuesday night, with investors looking for details on his promises of tax reform, deregulation and infrastructure spending. Chinese shares ended lower after the securities regulator vowed stricter regulations to clamp down on speculation and pledged to speed up approvals of initial public offerings. Further, Japanese shares hit 2-1/2 week lows as the yen's strength hurt exporters and lower US yields sent financials broadly lower. Meanwhile, Taiwan markets were closed for a public holiday.

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LME Inventory

Feb 27 2017 2:57PM

       COPPER: -3525 MT

       ZINC: +4475 MT

       LEAD: +525 MT

       NICKLE: -1068 MT

       ALUMINIUM: +27875 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]