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Profit Krishna

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

PROFIT KRISHNA an ISO Certified equity and commodity advisory services is a dedicated website which provides research work for Equity, stock tips, intraday tips, Multibagger & Commodity markets of India. Our services are chiefly designed for Investors and Traders to provide most appropriate solution. We have a specialized team of stock market analysts and commodity investment experts who can provide profitable stock market tips including future & option trading tips, commodity trading tips, intraday trading tips, nifty tips, BSE NSE Tips and MCX NCDEX Tips. We keep on updating you with share market recommendations and accurate stock market tips through SMS, phone calls and online chatting on daily, weekly and monthly basis which can help you in earning unlimited profit out of your investment.

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* Disclaimer: These recommendations are based on the theory of technical analysis and outlook of the market performance. Readers those who buy and sell securities based on the above information in this column are solely responsible for their actions. The author won't be liable or responsible for any sort of financial and legal loses suffered by the traders.
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SBI almost flat after board meeting

Oct 22 2018 11:00PM


On the BSE, 34.88 lakh shares were traded in the counter so far compared with average daily volumes of 20.88 lakh shares in the past two weeks. The stock had hit a high of Rs 266.50 and a low of Rs 259.05 so far during the day.
State Bank of India (SBI) said its board accorded approval to raise Basel lll compliant Tier 2 bonds upto Rs 5000 crore in USD/INR to overseas and/or lndian investors during FY2019, through a public offer/private placement.
Further, the board also approved to raise equity capital upto an amount of Rs 20,000 crore during FY2019 from the market by way of FPO/QlP/preferential allotment/rights issue/any other mode or a combination of these, to be decided at the opportune time subject to the approval of shareholders, Reserve Bank of lndia, Sebi and Government of lndia.

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Biocon jumps after positive CHMP opinion for Ogivri

Oct 22 2018 12:58PM


On the BSE, 1.25 lakh shares were traded in the counter so far compared with average daily volumes of 1.48 lakh shares in the past two weeks. The stock had hit a high of Rs 683 and a low of Rs 668 so far during the day. The stock hit a record high of Rs 718.35 on 26 September 2018. The stock hit a 52-week low of Rs 343.50 on 27 October 2017.
Biocon and Mylan N.V. announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of Ogivri, a biosimilar to Roche's Herceptin (trastuzumab). The CHMP positive opinion will now be considered by the European Commission.
The decision on approval is expected by the end of 2018. Ogivri is indicated for treatment of patients with HER2 positive early breast cancer (EBC), metastatic breast cancer (MBC) and metastatic gastric cancer (MGC). Under supervision of the relevant healthcare professional it can be prescribed as either monotherapy or in combination with other medicines dependent on the relevant diagnosis.
Ogivri was approved by the US Food and Drug Administration (FDA) in 2017 and is the first FDA-approved biosimilar for Herceptin in the US Additional regulatory approvals have been secured in 35 countries around the world.
Herceptin had brand sales of approximately $1.9 billion in Europe for the 12 months ending 31 July 2018, according to IQVIA.
Mylan and Biocon are exclusive partners on a broad portfolio of biosimilar and insulin products. Ogivri is one of 11 biologic and insulin products co-developed by Mylan and Biocon for the global marketplace. Mylan has exclusive commercialization rights for the product in the US, Canada, Japan, Australia, New Zealand and in the European Union and European Free Trade Association countries. Biocon has co-exclusive commercialization rights with Mylan for the product in the rest of the world.
On a consolidated basis, Biocon's net profit rose 47.23% to Rs 119.70 crore on 21.18% increase in net sales to Rs 1123.80 crore in Q1 June 2018 over Q1 June 2017.
Biocon is a fully-integrated, innovation-led global biopharmaceutical company.

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Indiabulls Housing Finance spurts on bargain hunting

Oct 22 2018 12:58PM

On the BSE, 13.14 lakh shares were traded in the counter so far compared with average daily volumes of 10.70 lakh shares in the past two weeks. The stock had hit a high of Rs 731.30 and a low of Rs 662 so far during the day. The stock hit a 52-week high of Rs 1,439.40 on 29 January 2018. The stock hit a 52-week low of Rs 640.15 on 19 October 2018.
Shares of Indiabulls Housing Finance slumped 31.04% in three trading sessions to settle at Rs 654.25 on 19 October 2018, from its close of Rs 948.70 on 15 October 2018.
Meanwhile, a media report suggested that Indiabulls Housing Finance plans to sell all or part of its 18.7% stake in UK-based OakNorth Holdings within a month to a private equity fund. The deal, if it goes through, will help the company rake in over six times gain on investment in less than three years. OakNorth Holdings has investors including Singapore's Government Investment Corporation and Clermont Group. The current valuation of Indiabulls' stake is up to Rs 4,500 crore. The PE fund is investing in fresh and existing shares equivalent to 30 per cent stake in OakNorth Holdings, a lender to small businesses, report added.
On a consolidated basis, net profit of Indiabulls Housing Finance rose 21.22% to Rs 1044.15 crore on 23.25% rise in total income to Rs 4255.27 crore in Q2 September 2018 over Q2 September 2017.
Indiabulls Housing Finance is the 2nd largest housing finance company in India.

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Speciality Restaurants Ltd leads gainers in 'B' group

Oct 22 2018 12:56PM

Jindal Poly Investment & Finance Company Ltd, BLB Ltd, Tijaria Polypipes Ltd and The Byke Hospitality Ltd are among the other gainers in the BSE's 'B' group today, 22 October 2018.
Speciality Restaurants Ltd spiked 10.11% to Rs 76.25 at 12:01 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 1132 shares were traded on the counter so far as against the average daily volumes of 2167 shares in the past one month.
Jindal Poly Investment & Finance Company Ltd soared 10.00% to Rs 39.6. The stock was the second biggest gainer in 'B' group. On the BSE, 201 shares were traded on the counter so far as against the average daily volumes of 529 shares in the past one month.
BLB Ltd surged 9.92% to Rs 5.65. The stock was the third biggest gainer in 'B' group. On the BSE, 28060 shares were traded on the counter so far as against the average daily volumes of 1485 shares in the past one month.
Tijaria Polypipes Ltd advanced 9.09% to Rs 18. The stock was the fourth biggest gainer in 'B' group. On the BSE, 3989 shares were traded on the counter so far as against the average daily volumes of 15198 shares in the past one month.
The Byke Hospitality Ltd spurt 8.73% to Rs 82.85. The stock was the fifth biggest gainer in 'B' group. On the BSE, 16687 shares were traded on the counter so far as against the average daily volumes of 20952 shares in the past one month.

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HDFC Bank rises after good Q2 results

Oct 22 2018 9:24AM

On the BSE, 11,000 shares were traded in the counter so far compared with average daily volumes of 1.60 lakh shares in the past two weeks. The stock had hit a high of Rs 2020.45 and a low of Rs 2001 so far during the day.
The stock hit a 52-week high of Rs 2,219.05 on 18 July 2018. The stock hit a 52-week low of Rs 1,685 on 26 October 2017.
The bank's gross non-performing assets (NPAs) stood at Rs 10097.73 crore as on 30 September 2018 as against Rs 9538.62 crore as on 30 June 2018 and Rs 7702.84 crore as on 30 September 2017.
The ratio of gross NPAs to gross advances stood at 1.33% as on 30 September 2018 as against 1.33% as on 30 June 2018 and 1.26% as on 30 September 2017.
The ratio of net NPAs to net advances stood at 0.40% as on 30 September 2018 as against 0.41% as on 30 June 2018 and 0.43% as on 30 September 2017.
The bank's provisions and contingencies rose 23.29% to Rs 1819.96 crore in Q2 September 2018 over Q2 September 2017.
Provision coverage ratio of the bank was at 70% as on 30 September 2018.
Total deposits as of 30 September 2018 were Rs 8,33,364 crore, an increase of 20.9% over 30 September 2017. CASA deposits grew at 18.3% with savings account deposits growing by 18.7% over the previous year to reach Rs 2,34,568 crore and current account deposits growing by 17.7% over the previous year to reach Rs 1,15,131 crore.
As of 30 September 2018, the HDFC Bank's distribution network was at 4,825 banking outlets and 13,018 ATMs across 2,718 cities/ towns as against 4,729 banking outlets and 12,259 ATMs across 2,669 cities/ towns as of 30 September 2017.

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Most sectoral indices on BSE slide

Oct 19 2018 11:42PM

Key benchmark indices were trading on a weak note as bluechips like Reliance Industries, HDFC and Infosys came under selling pressure. The barometer index, the S&P BSE Sensex, was down 545.02 points or 1.57% at 34,234.56.
Among the sectoral indices on BSE, the S&P BSE IT index (down 2.74%), the S&P BSE TECK index (down 2.48%), the S&P BSE Auto (down 1.66%), the S&P BSE Oil & Gas index (down 1.3%), the S&P BSE Healthcare index (down 1.23%), the S&P BSE Capital Goods index (down 1.1%), the S&P BSE Consumer Durables index (down 0.98%), the S&P BSE Realty index (down 0.86%), the S&P BSE Bankex index (down 0.68%), the S&P BSE Power index (down 0.35%) edged lower. The S&P BSE FMCG index (up 0.09%) and the S&P BSE Metal index (up 0.13%) edged higher.
Overseas, European stocks were trading lower, extending Thursday's losses. Stocks in Asia were mixed on Friday after China's GDP growth for the third quarter of 2018 came in below expectations. Issues ranging from trade worries, Italy's 2019 budget and higher US interest rates also worried investors.
US stocks closed sharply lower Thursday, dogged by worries about global growth and as investors continued to weigh minutes of the Federal Reserve's September meeting, which were viewed as hawkish.

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Themis Medicare Ltd leads losers in 'B' group

Oct 19 2018 11:41PM


Ultracab (India) Ltd, AGC Networks Ltd, GPT Infraprojects Ltd and GTPL Hathway Ltd are among the other losers in the BSE's 'B' group today, 19 October 2018.
Themis Medicare Ltd lost 11.90% to Rs 289.95 at 14:32 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 3362 shares were traded on the counter so far as against the average daily volumes of 541 shares in the past one month.
Ultracab (India) Ltd crashed 10.73% to Rs 49.1. The stock was the second biggest loser in 'B' group.On the BSE, 50 shares were traded on the counter so far as against the average daily volumes of 8815 shares in the past one month.
AGC Networks Ltd tumbled 10.20% to Rs 59. The stock was the third biggest loser in 'B' group.On the BSE, 5850 shares were traded on the counter so far as against the average daily volumes of 1086 shares in the past one month.
GPT Infraprojects Ltd fell 9.99% to Rs 68.45. The stock was the fourth biggest loser in 'B' group.On the BSE, 17943 shares were traded on the counter so far as against the average daily volumes of 6422 shares in the past one month.
GTPL Hathway Ltd pared 9.96% to Rs 93.15. The stock was the fifth biggest loser in 'B' group.On the BSE, 3886 shares were traded on the counter so far as against the average daily volumes of 14740 shares in the past one month.

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PNB Housing Finance Ltd leads losers in 'A' group

Oct 19 2018 11:41PM

Indiabulls Housing Finance Ltd, Mindtree Ltd, SREI Infrastructure Finance Ltd and Dewan Housing Finance Corporation Ltd are among the other losers in the BSE's 'A' group today, 19 October 2018.
PNB Housing Finance Ltd lost 18.39% to Rs 708 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 1.83 lakh shares were traded on the counter so far as against the average daily volumes of 28956 shares in the past one month.
Indiabulls Housing Finance Ltd crashed 16.89% to Rs 655.6. The stock was the second biggest loser in 'A' group.On the BSE, 27.7 lakh shares were traded on the counter so far as against the average daily volumes of 8.61 lakh shares in the past one month.
Mindtree Ltd tumbled 16.32% to Rs 819.2. The stock was the third biggest loser in 'A' group.On the BSE, 4.36 lakh shares were traded on the counter so far as against the average daily volumes of 61241 shares in the past one month.
SREI Infrastructure Finance Ltd pared 12.30% to Rs 27.8. The stock was the fourth biggest loser in 'A' group.On the BSE, 26.39 lakh shares were traded on the counter so far as against the average daily volumes of 7.53 lakh shares in the past one month.
Dewan Housing Finance Corporation Ltd plummeted 11.85% to Rs 208.3. The stock was the fifth biggest loser in 'A' group.On the BSE, 45.26 lakh shares were traded on the counter so far as against the average daily volumes of 49.36 lakh shares in the past one month.

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Wipro Gallagher Solutions Launches NetOxygen Saas for Loan Origination

May 21 2018 8:27PM

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

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Phoenix Mills allots 10,000 equity shares

Apr 25 2018 12:58PM

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

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Lupin receives final approval for Tetrabenazine Tablets

Apr 23 2018 2:12PM

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


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Board of Axis Bank commences succession process

Apr 20 2018 10:56PM

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

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Electrosteel Steels update on resolution plan

Apr 20 2018 10:55PM


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

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Board of Visco Trade Associates approves change in directorate

Apr 18 2018 10:47PM


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

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Board of Mindtree approves change in directorate

Apr 18 2018 10:47PM

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

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BOI AXA Midcap Tax Fund – Series 1 Announces Dividend

Dec 4 2017 6:11PM

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


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ICICI Prudential Fixed Maturity Plan – Series 84 – 155 Days Plan L Floats On

Oct 16 2018 9:26AM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 84 – 155 Days Plan L, a close ended debt scheme. The tenure of the scheme is 155 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 16 October 2018 to 16 October 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.
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 instruments, debt instruments including government securities with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is CRISIL Ultra Short Term Debt Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru

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Reliance Interval Fund – V – Series 1, Floats On

Oct 16 2018 9:25AM

Reliance Mutual Fund has launched a new fund named Reliance Interval Fund – V – Series 1, a debt oriented interval scheme. The tenure of the scheme is 366 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 17 October 2018 to 19 October 2018.
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 which are maturing on or before the next specified transaction date 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 upto 100% of assets in money market instruments government securities / state development loans (SDLs) & Debt instruments with low to medium risk profile.
Minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.
Minimum additional investment 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 and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Short Term Bond Fund Index.
The fund manager of the scheme is Amit Tripathi.

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UTI Fixed Term Income Fund – Series XXX – VIII (1286 Days) Floats On

Oct 9 2018 1:23PM

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXX – VIII (1286 Days), a close ended Debt scheme. The duration of the scheme is 1286 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 10 October to 11 October 2018.
The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.
The scheme offers growth option, quarterly dividend option with payout facility, flexi dividend option with payout facility, annual dividend option with payout facility and maturity dividend option with payout facility.
The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets would be allocated to money market instruments with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
Sunil Patil is the fund manager for the scheme.

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Reliance Fixed Horizon Fund - XXXIX- Series 12, Floats On

Oct 8 2018 1:31PM

Reliance Mutual Fund has launched a new fund named Reliance Fixed Horizon Fund - XXXIX- Series 12, a close ended income scheme. The tenure of the scheme is 1295 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 12 October 2018 to 12 October 2018.
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.
The fund manager of the scheme is Amit Tripathi.

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Tata Fixed Maturity Plan Series 56 Scheme D Floats On

Oct 8 2018 1:29PM


Tata Mutual Fund has launched a new fund named Tata Fixed Maturity Plan Series 56 (TFMP56) Scheme D, a close ended debt scheme. The tenure of the scheme is 1134 days from the date of allotment. The new issue will be open for subscription from 12 October 2018 to 22 October 2018.
The investment objective of the scheme is to generate income and / or capital appreciation by investing in Fixed Income Instruments having maturity in line with the maturity of the scheme.
The scheme offers two options viz. growth and dividend (payout) option.
The scheme would invest 85% - 100% of assets in debt instruments with low to medium risk profile and upto 15% 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 Medium Term Debt Index.
The fund manager of the scheme is Akhil Mittal.

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DSP FMP – Series 245 – 5M Floats On

Oct 5 2018 2:14PM

DSP Mutual Fund has launched a new fixed maturity plan named as DSP FMP – Series 245 – 5M, a close-ended income scheme with the duration of 5 months from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 09 October 2018 to 09 October 2018.
The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme.
The scheme offers a choice of two options, growth option and dividend payout with regular payout and Quarterly payout option.
The scheme would allocate upto 100% of assets in debt and money market securities with low to medium risk profile.
The minimum application amount is Rs 5000.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

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HDFC FMP 1280D October 2018 (1) Floats On

Oct 5 2018 2:13PM

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1280D October 2018 (1), a plan under HDFC Fixed Maturity Plans – Series 43 (a close ended income scheme). The tenure of the scheme is 1280 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 from 10 October 2018 to 10 October 2018.
The investment objective of the plan is to generate income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the respective plan.
The scheme offers growth option, dividend option and quarterly dividend 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 manager of the scheme is Anil Bamboli.

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ICICI Prudential Fixed Maturity Plan – Series 84 – 155 Days Plan J Floats On

Oct 4 2018 1:22PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 84 – 155 Days Plan J, a close ended debt scheme. The tenure of the scheme is 155 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 October 2018 to 09 October 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.
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 instruments, debt instruments including government securities with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge are not applicable for the scheme.
Benchmark Index for the scheme is CRISIL Ultra Short Term Debt Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru.

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Profit Krishna

Precious Metals Preview: Gold Consolidates Around $1230 Mark

Oct 22 2018 9:26AM


COMEX Gold remained broadly supported above $1230 per ounce levels after hitting its highest mark in two and half years. Sentiments remained stressed on Chinese growth concerns. The benchmark Shanghai Composite index has dropped to its lowest level in nearly four years. The metal currently trades at $1231 per ounce, up marginally on the day. MCX Gold futures closed at Rs 31919 per 10 gram, down 0.51% on the day as a break under Rs 32000 extended on a brief rebound in Indian Rupee.
Meanwhile, China’s jewellery market is recovering following several difficult years. Significant improvements have already been made but more could be done to meet the needs of China’s modern consumers, according to Gerry Chen, Director of Trade Engagement in China for the World Gold Council. In a latest update from the WGC, Chen noted that China’s jewellery market is the largest in the world, accounting for 30% of global demand. But it is a market in flux.
Traditionally, Chinese consumers purchased gold jewellery purely for its gold content. Today, there is a growing focus on adornment, as younger consumers in particular look to gold jewellery as a means of expressing their identity, gaining social recognition and embracing change.

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USDA Estimates 0.50 Million Tonnes Decline In Wheat Production For 2018/19

Oct 22 2018 9:25AM

As per the latest release from United States Department of Agriculture (USDA), the Australian wheat production is forecast at 18 MMT for 2018/19, slightly below the revised official forecast of 18.5 MMT as a result of very dry and hot conditions across major wheat growing areas. The harvested area is expected to be stable at 11 million hectares. Very dry and hot conditions in eastern Australia reduced both expected production and likely yields. Yield is forecast at 1.63 tons per hectare, 19 percent below the 5-year average. The poor condition of existing crops and the continuing drought conditions mean that an increasing share of the wheat crop, especially in NSW, will be cut for feed. Post has increased the proportion of feed wheat to 6 MMT due the seasonal outlook and the current high domestic prices for livestock feed.
Wheat domestic consumption is estimated at 9.5 MMT for 2018/19 due to a significant shortage of grains for livestock production caused by poor pasture and dry conditions across eastern Australia. This situation has led to a sharp rise in domestic feed grain and hay prices in eastern Australia.
Australian wheat exports are forecast to decline to 12 MMT for 2018/2019, reflecting lower production caused by the drought and high prices for domestic feed grains and hay.

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RBI To Offer 2% Interest Subvention On Crop Loans For First Year

Oct 19 2018 11:44PM

To provide relief to farmers availing short term crop loans and affected by a natural calamity, an interest subvention of 2% per annum will be made available to banks for the first year on the restructured loan amount. Such restructured loans will attract normal rate of interest from the second year onwards, the RBI said in its updated Master Directions on Relief Measures by Banks in Areas affected by Natural Calamities. While the rate of interest will be in accordance with the Master Directions on Interest Rate on Loans and Advances, the RBI said within the area of their discretion, banks shall take a sympathetic view of the difficulties of the borrowers, and extend a concessional treatment to calamity-affected people. In respect of default in current dues, no penal interest will be charged. Banks will also suitably defer the compounding of interest charges.

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Gold Consolidates Around $1230 Level Ahead Of Weekend

Oct 19 2018 11:44PM

COMEX Gold futures consolidated around $1230 per ounce today. US dollar index eased a little after hitting its highest levels in one and half weeks. A report released by the Conference Board on Thursday showed a continued increase by its index of leading economic indicators in the month of September. The Conference Board said its leading economic index climbed by 0.5% in September. The Philly Fed said its diffusion index for current general activity edged down to 22.2 in October from 22.9 in September, although a positive reading still indicates growth in regional manufacturing activity.
The dollar index has edged up from a three week low under 94.50 this week and could stay supported given the escalating global worries, particularly the US- Saudi Arabia conflict. Gold has been supported after a recent break above $1200 per ounce but near term price direction would depend upon the movement of US dollar and the general undertone in global equities. MCX Gold futures are quoting at Rs 31915 per 10 grams, down half a percent on the day on profit selling. The Indian Rupee edged up near 73.30 per US dollar and pulled the local Gold futures lower.

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Natural Gas Slides To One Week Low

Oct 19 2018 11:43PM

Natural Gas futures slipped to one week lows as a drop from its nine month highs extended ahead of the weekend. The US Energy Information Administration (EIA) reported Thursday that US natural gas stockpiles increased by 81 billion cubic feet for the week ending 12 October 2018. Demand remains firm though and prices may see some buying support. The commodity currently trades at $3.17 per mmbtu, down 0.70% on the day. MCX Natural Gas futures are trading at Rs 232.70 per mmbtu, down 2% as a recovery in Indian Rupee weighed further on the prices.
Meanwhile, the EIA data showed that five-year average for the week is an injection of 79 billion cubic feet, and last year’s storage increase for the week totaled 51 billion cubic feet. Natural gas inventories rose by 90 billion cubic feet in the week ending October 5. Total US stockpiles increased slightly week over week to 167.5% below last year’s level and also rose slightly to 16.6% below the five-year average.
The EIA reported further that US working stocks of natural gas totaled about 3.037 trillion cubic feet at the end of last week, around 605 billion cubic feet below the five-year average of 3.642 trillion cubic feet and 601 billion cubic feet below last year’s total for the same period. Working gas in storage totaled 3.638 trillion cubic feet for the same period a year ago.

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Freeport eyes majority stake in Solaris early stage Chile project

Oct 19 2018 1:44PM

Canada's Solaris Copper, which spun out of Equinox Gold in June, received a shot in the arm on Thursday as Freeport McMoRan has agreed to a deal that would give the US miner up to 80% in the Vancouver company's early stage Ricardo property, in Chile.
The option agreement, Solaris said, provides for a three-staged process by which Freeport can earn up a majority interest in the Chilean the grassroots exploration asset for gross expenditures of $130 million or $30 million plus the delivery of a feasibility study for a mine at the site. The Ricardo property consists of about 14,000 hectares along the West Fissure fault in Chile, 25 km south of Codelco's Chuquicamata mine, the world's largest open pit copper mine and the state-owned miner's second largest operation by size.
Partnering with Freeport in advancing Ricardo would allow Solaris to focus on its flagship Warintza copper-molybdenum project in Ecuador, the company said. Copper deposits are among the hottest assets in mining right now, with the world's top producers becoming increasingly bullish on the metal. There are expectations that bigger power grids around the world and an electric-vehicle boom will boost demand, while supplies are constrained.
Solaris Copper also holds a 60% interest in the La Verde copper-silver-gold property in Mexico with the remaining 40% held by a subsidiary of Teck Resources, and has earn-in agreements for two early-stage base metals projects in Peru.

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Garibaldi Drills Into New Zone At Nickel Mountain

Oct 19 2018 1:43PM

Garibaldi Resources announced that the continuing drill program at Nickel Mountain, combined with surface sampling of new massive sulphide outcrops exposed by melting ice and snow, has confirmed a third discovery area known as the Central zone in between the Northwest and Discovery zones.
Up until this summer, much of the Central zone was covered by ice and snow. Fresh massive sulphides revealed by a receding ice sheet reinforces the potential of the untested 1.6-km-long and 1-km-wide E&L icefield to host a major expansion of the Golden Triangle's first magmatic nickel-copper-rich sulphide system which remains open in all directions. Initial shallow drilling in the Central zone has intersected visually strong nickel sulphide mineralization over significant widths to depths of 75 meters - deeper holes are planned.
Garibaldi has completed 29 drill holes (10,623 meters) in its 2018 campaign or 43 altogether including the 2017 program that led to the discovery of nickel-copper-rich massive sulphides east of the historic E&L Northwest zone. Garibaldi looks forward to the release of additional assay results during this second half of October.

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China Witnesses Strong Drop In Soyabean Imports In Last Quarter of 2018

Oct 19 2018 1:43PM


China's soybean imports are set to drop by a quarter in the last three months of 2018, their biggest fall in at least 12 years as buyers curb purchases amid the Sino-U.S. trade war and high domestic stockpiles.
Soybeans, crushed to make protein-rich animal feed ingredients and vegetable oils, have been at the heart of the tit-for-tat trade dispute between the world's top two economies.
China in July imposed a retaliatory 25-percent import duty on U.S. soybeans as part of the conflict, a saga that has gathered steam since then with the introduction of fresh tariffs on other products.
Soybean imports by China, which buys 60 percent of the oilseed traded worldwide, will likely decline to around 18-20 million tonnes in the fourth quarter, compared with 24.1 million tonnes in the same period last year, traders said.

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Post-Session:Market ends lower for third straight session

Oct 22 2018 10:59PM


Key domestic equity benchmarks declined for third day in a row amid volatility, dragged by Reliance Industries, IndusInd Bank and Kotak Mahindra Bank.
The Sensex fell 181.25 points or 0.53% to settle at 34,134.38. The index rose 433.06 points, or 1.26% at the day's high of 34,748.69. The index fell 232.87 points, or 0.68% at the day's low of 34,082.76.
The Nifty 50 index fell 58.30 points or 0.57% to settle at 10,245.25. The index rose 105 points, or 1.02% at the day's high of 10,408.55. The index fell 79.55 points, or 0.77% at the day's low of 10,224.
Domestic stocks trimmed gains after a firm start on steady buying demand in index pivotals. Volatility struck bourses in morning trade as the key benchmark indices once again regained strength soon after erasing almost entire gains posted in early trade. Stocks hovered in small range with positive bias in mid-morning trade. Key indices were trading with steady gains in early afternoon trade. Benchmarks turned range bound in afternoon trade. Stocks gyrated in a small range in mid-afternoon trade amid divergent trend in index pivotals. A sudden sell-off pulled the key indices to day's low in late trade.
The S&P BSE Mid-Cap index fell 0.71%. The S&P BSE Small-Cap index lost 1.97%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On the BSE, 824 shares rose and 1774 shares fell. A total of 166 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Energy index (down 2.98%), the S&P BSE Oil & Gas index (down 2.45%), the S&P BSE Basic Materials index (down 1.48%), the S&P BSE Consumer Durables index (down 1.27%), the S&P BSE Industrials index (down 1.17%), the S&P BSE IT index (down 0.73%), the S&P BSE Metal index (down 0.73%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.72%), the S&P BSE Teck index (down 0.68%), the S&P BSE Capital Goods index (down 0.65%), the S&P BSE Telecom index (down 0.6%) and the S&P BSE Realty index (down 0.57%), underperforming the Sensex. The S&P BSE Finance index (down 0.29%), the S&P BSE Bankex (down 0.23%), the S&P BSE Healthcare index (down 0.22%), the S&P BSE Utilities index (down 0.11%), the S&P BSE FMCG index (down 0.01%), the S&P BSE Power index (up 0.06%) and the S&P BSE Auto index ended flat, outperforming the Sensex.
Index heavyweight Reliance Industries (RIL) fell 3.56% to Rs 1,062.45.
Asian Paints lost 2.95% ahead of its September quarterly result today, 22 October 2018.
Hero MotoCorp rose 0.70%. In keeping with its strategic focus and commitment to introduce higher-engine capacity products, Hero MotoCorp today launched the new Destini 125 scooter. The Destini 125 aims to fortify the company's presence in the fast-growing 125cc scooter segment. The new Destini 125 will be available from tomorrow across Hero dealerships in the Delhi-NCR region, at Rs 54,650 (Ex-Showroom) for the Lx variant and Rs 57,500 (Ex-Showroom) for the Vx variant. The announcement was made during market hours today, 22 October 2018.
Banks shares declined. Among private sector banks, IndusInd Bank (down 8.52%), RBL Bank (down 7.01%), City Union Bank (down 4.47%), Yes Bank (down 3.08%), Kotak Mahindra Bank (down 2.75%), Federal Bank (down 2.16%) and Axis Bank (down 0.04%), edged lower. ICICI Bank rose 3.84%.
HDFC Bank rose 1.38% after net profit rose 20.59% to Rs 5005.73 crore on 21.2% rise in total income to Rs 28215.15 crore in Q2 September 2018 over Q2 September 2017. The result was announced on Saturday, 20 October 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 10097.73 crore as on 30 September 2018 as against Rs 9538.62 crore as on 30 June 2018 and Rs 7702.84 crore as on 30 September 2017. The ratio of gross NPAs to gross advances stood at 1.33% as on 30 September 2018 as against 1.33% as on 30 June 2018 and 1.26% as on 30 September 2017.
The ratio of net NPAs to net advances stood at 0.40% as on 30 September 2018 as against 0.41% as on 30 June 2018 and 0.43% as on 30 September 2017. The bank's provisions and contingencies rose 23.29% to Rs 1819.96 crore in Q2 September 2018 over Q2 September 2017. Provision coverage ratio of the bank was at 70% as on 30 September 2018.
Among public sector banks, Corporation Bank (down 4.2%), Canara Bank (down 3.58%), Vijaya Bank (down 3.41%), Central Bank of India (down 3.22%), Indian Bank (down 2.74%), Bank of Maharashtra (down 2.37%), Union Bank of India (down 2.33%), Bank of India (down 1.95%), Allahabad Bank (down 1.75%), United Bank of India (down 1.22%), Andhra Bank (down 0.96%), Dena Bank (down 0.67%), Syndicate Bank (down 0.63%), UCO Bank (down 0.6%), IDBI Bank (down 0.51%) and Punjab National Bank (down 0.45%), edged lower. Bank of Baroda (up 0.54%) and Punjab & Sind Bank (up 1.95%), edged higher.
State Bank of India (SBI) fell 0.35%. SBI said its board accorded approval to raise Basel III compliant Tier 2 bonds upto Rs 5000 crore in USD/INR to overseas and/or lndian investors during FY2019, through a public offer/private placement. Further, the board also approved to raise equity capital upto an amount of Rs 20,000 crore during FY2019 from the market by way of FPO/QlP/preferential allotment/rights issue/any other mode or a combination of these, to be decided at the opportune time subject to the approval of shareholders, Reserve Bank of India, Sebi and Government of lndia. The announcement was made during trading hours today, 22 October 2018.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 73.44, compared with its close of 73.325 during the previous trading session.
In the global commodities markets, Brent for December 2018 settlement was up 14 cents at $79.92 a barrel. The contract had risen 49 cents, or 0.62% to settle at $79.78 a barrel during the previous trading session.
Overseas, shares in Europe were trading higher as investors focus mostly on corporate earnings with several big firms announcing their latest results. However, investors will keep an eye on politics. Italy is reportedly expecting the European Commission to reject its draft budget on Tuesday and ask for a new plan, given the planned increase in public spending.
Most Asian stocks rose, led by Chinese stocks after Beijing's pledge to support the economy and tackle market volatility. Chinese stocks advanced after top officials continued to express support for the nation's struggling private sector.
Over the weekend, President Xi Jinping vowed unwavering support for non-state firms, while the country's stock exchanges committed to help manage share-pledge risks. China also released its widely-expected plan to cut personal income taxes after data showed the nation's economy grew at the slowest pace since 2009.
US stocks closed mostly lower on Friday, 19 October 2018 as weak housing data overshadowed solid corporate earnings. On the data front, existing-home sales fell 3.4% in August, according to the National Association of Realtors, the lowest level since November 2015.

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Profit Krishna

LME Inventory

Apr 12 2017 1:51PM

       COPPER: -850 MT

       ZINC: -1850 MT

       LEAD: -1025 MT

       NICKLE: -1194 MT

       ALUMINIUM: -13575 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]