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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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Star Paper Mills Ltd leads losers in 'B' group

Aug 13 2018 10:48PM

Khaitan (India) Ltd, Tokyo Plast International Ltd, Jiya Eco-Products Ltd and Vijay Shanthi Builders Ltd are among the other losers in the BSE's 'B' group today, 13 August 2018.
Star Paper Mills Ltd crashed 18.95% to Rs 173.4 at 14:32 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 25016 shares in the past one month.
Khaitan (India) Ltd lost 16.67% to Rs 40. The stock was the second biggest loser in 'B' group.On the BSE, 1250 shares were traded on the counter so far as against the average daily volumes of 371 shares in the past one month.
Tokyo Plast International Ltd tumbled 10.78% to Rs 59.6. The stock was the third biggest loser in 'B' group.On the BSE, 5642 shares were traded on the counter so far as against the average daily volumes of 4036 shares in the past one month.
Jiya Eco-Products Ltd slipped 10.77% to Rs 118.9. The stock was the fourth biggest loser in 'B' group.On the BSE, 74578 shares were traded on the counter so far as against the average daily volumes of 30127 shares in the past one month.
Vijay Shanthi Builders Ltd corrected 9.98% to Rs 9.47. The stock was the fifth biggest loser in 'B' group.On the BSE, 7199 shares were traded on the counter so far as against the average daily volumes of 10443 shares in the past one month.


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IT stocks head north on weak rupee

Aug 13 2018 10:47PM

Hexaware Technologies (up 2.76%), Tech Mahindra (up 2.19%), MindTree (up 2.79%), Wipro (up 0.5%), Larsen & Toubro Infotech (up 0.65%), Oracle Financial Services Software (up 0.82%), HCL Technologies (up 1.52%), MphasiS (up 0.9%), Persistent Systems (up 0.37%), Infosys (up 1.72%) and TCS (up 0.28%) edged higher.
IT shares were trading higher after the rupee fell to a record low against the dollar as a currency turmoil in Turkey sparked worries of potential market contagion.
A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.80, compared with closing of 68.8350 during the previous trading session.

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Supply Side Pressures Seen Capping Downside For Copper

Aug 13 2018 1:15PM

Copper edged down on Monday after the dollar index jumped near 14 month high as investors sought safe havens amid the Turkish lira's fall to a record low. Turkey has drafted a economic action plan and will start implementing it on Monday morning to ease investor concerns, Finance Minister Berat Albayrak said on Sunday, according to media reports.
There is a possibility that the red metal might see some buying on the supply side pressures. The main union at Chile's Caserones copper mine said on Sunday that 98.5% of its workers had voted to reject a final offer from mine operator Lumina Copper during mediation. The union said that a strike had been agreed and it would begin on Tuesday. COMEX Copper tested a one week low near $2.72 per pound and witnessed modest recovery in intraday moves. MCX Copper also edged up above Rs 420 per kg and currently trades at Rs 420.90 per kg, up 0.30% on the day.

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Texmo Pipes & Products Ltd leads gainers in 'B' group

Aug 13 2018 1:12PM

Hindustan Organic Chemicals Ltd, Globus Spirits Ltd, Albert David Ltd and Sandur Manganese & Iron Ores Ltd are among the other gainers in the BSE's 'B' group today, 13 August 2018.
Texmo Pipes & Products Ltd spiked 20.00% to Rs 21.3 at 12:02 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 1.82 lakh shares were traded on the counter so far as against the average daily volumes of 9882 shares in the past one month.
Hindustan Organic Chemicals Ltd surged 19.90% to Rs 23.8. The stock was the second biggest gainer in 'B' group. On the BSE, 1.53 lakh shares were traded on the counter so far as against the average daily volumes of 32753 shares in the past one month.
Globus Spirits Ltd soared 14.71% to Rs 147.35. The stock was the third biggest gainer in 'B' group. On the BSE, 55673 shares were traded on the counter so far as against the average daily volumes of 7107 shares in the past one month.
Albert David Ltd rose 12.77% to Rs 515. The stock was the fourth biggest gainer in 'B' group. On the BSE, 26330 shares were traded on the counter so far as against the average daily volumes of 780 shares in the past one month.
Sandur Manganese & Iron Ores Ltd advanced 12.06% to Rs 1161.85. The stock was the fifth biggest gainer in 'B' group. On the BSE, 33802 shares were traded on the counter so far as against the average daily volumes of 5025 shares in the past one month.

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IDFC Bank Ltd gains for third consecutive session

Aug 13 2018 1:11PM


IDFC Bank Ltd gained for a third straight session today. The stock is quoting at Rs 44.55, up 2.65% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.32% on the day, quoting at 11393.35. The Sensex is at 37738.75, down 0.34%. IDFC Bank Ltd has risen around 23.41% in last one month.
Meanwhile, Nifty Bank index of which IDFC Bank Ltd is a constituent, has risen around 4.39% in last one month and is currently quoting at 28124.25, down 0.97% on the day. The volume in the stock stood at 72.91 lakh shares today, compared to the daily average of 113.05 lakh shares in last one month.
The benchmark August futures contract for the stock is quoting at Rs 44.7, up 2.76% on the day. IDFC Bank Ltd is down 18.18% in last one year as compared to a 16.33% spurt in NIFTY and a 15.49% spurt in the Nifty Bank index.
The PE of the stock is 30.93 based on TTM earnings ending June 18.

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Infosys Ltd rises for third straight session

Aug 13 2018 1:11PM


Infosys Ltd is up for a third straight session today. The stock is quoting at Rs 1401, up 1.12% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.32% on the day, quoting at 11393.35. The Sensex is at 37738.75, down 0.34%. Infosys Ltd has gained around 5.11% in last one month.
Meanwhile, Nifty IT index of which Infosys Ltd is a constituent, has gained around 1.42% in last one month and is currently quoting at 14679.25, up 0.99% on the day. The volume in the stock stood at 18.38 lakh shares today, compared to the daily average of 40.64 lakh shares in last one month.
The benchmark August futures contract for the stock is quoting at Rs 1408.35, up 1.35% on the day. Infosys Ltd is up 42.75% in last one year as compared to a 16.33% jump in NIFTY and a 40.02% jump in the Nifty IT index.
The PE of the stock is 18.71 based on TTM earnings ending June 18.

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TCI Developers Ltd leads gainers in 'B' group

Aug 10 2018 1:05PM

Eastern Silk Industries Ltd, Esab India Ltd, NRB Industrial Bearings Ltd and 63 Moons Technologies Ltd are among the other gainers in the BSE's 'B' group today, 10 August 2018.
TCI Developers Ltd spiked 17.90% to Rs 532.9 at 12:02 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 19 shares were traded on the counter so far as against the average daily volumes of 60 shares in the past one month.
Eastern Silk Industries Ltd soared 14.93% to Rs 3.31. The stock was the second biggest gainer in 'B' group. On the BSE, 5595 shares were traded on the counter so far as against the average daily volumes of 4739 shares in the past one month.
Esab India Ltd surged 14.46% to Rs 839. The stock was the third biggest gainer in 'B' group. On the BSE, 12202 shares were traded on the counter so far as against the average daily volumes of 645 shares in the past one month.
NRB Industrial Bearings Ltd advanced 13.26% to Rs 26.05. The stock was the fourth biggest gainer in 'B' group. On the BSE, 9120 shares were traded on the counter so far as against the average daily volumes of 3648 shares in the past one month.
63 Moons Technologies Ltd added 12.33% to Rs 83.8. The stock was the fifth biggest gainer in 'B' group. On the BSE, 4.48 lakh shares were traded on the counter so far as against the average daily volumes of 66801 shares in the past one month.

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Den Networks Ltd leads gainers in 'A' group

Aug 10 2018 1:04PM


Indiabulls Real Estate Ltd, PC Jeweller Ltd, BF Utilities Ltd and Reliance Naval & Engineering Ltd are among the other gainers in the BSE's 'A' group today, 10 August 2018.
Den Networks Ltd surged 14.61% to Rs 57.25 at 11:48 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.92 lakh shares were traded on the counter so far as against the average daily volumes of 47066 shares in the past one month.
Indiabulls Real Estate Ltd spiked 6.76% to Rs 155.6. The stock was the second biggest gainer in 'A' group. On the BSE, 4.87 lakh shares were traded on the counter so far as against the average daily volumes of 3.61 lakh shares in the past one month.
PC Jeweller Ltd soared 6.03% to Rs 107.2. The stock was the third biggest gainer in 'A' group. On the BSE, 24.88 lakh shares were traded on the counter so far as against the average daily volumes of 38.06 lakh shares in the past one month.
BF Utilities Ltd advanced 5.34% to Rs 343.25. The stock was the fourth biggest gainer in 'A' group. On the BSE, 1.26 lakh shares were traded on the counter so far as against the average daily volumes of 94771 shares in the past one month.
Reliance Naval & Engineering Ltd spurt 4.98% to Rs 20.01. The stock was the fifth biggest gainer in 'A' group. On the BSE, 13.28 lakh shares were traded on the counter so far as against the average daily volumes of 3.22 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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Kotak FMP Series 242 Floats On

Aug 13 2018 1:14PM

Kotak Mahindra Mutual Fund has launched a new fund named as Kotak FMP Series 242, a close ended debt scheme with the duration of 1152 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 13 August to 20 August 2018.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
The scheme offers growth and dividend payout option.
The scheme shall invest 80% - 100% of assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. Investment in derivatives will be up to 50% of the net assets of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.
Entry load and exit load charge will be nil for the scheme.
The scheme performance will be benchmarked against CRISIL Composite Bond Fund Index.
Deepak Agarwal is the fund manager of the scheme.

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Motilal Oswal Equity Hybrid Fund Floats On

Aug 13 2018 1:13PM


Motilal Oswal Mutual Fund has launched a new fund named as Motilal Oswal Equity Hybrid Fund, an open ended hybrid scheme investing predominantly in equity and equity related instruments. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 August to 25 August 2018.
The investment objective of the scheme is to generate equity linked returns by investing in a combined portfolio of equity and equity related instruments, debt, money market instruments and units issued by Real Estate Investment Trust (REITs) and Infrastructure Investment Trust (InvITs).
The scheme has two plans: regular plan and direct plan, each plan offers growth option
The scheme would allocate 65%-80% of assets in equity and equity related instruments with high risk profile and invest 20%-35% of assets would be allocated to debt & money market instruments, G-Secs, Bonds, Debentures, Cash and cash at call, etc with low to medium risk profile and invest upto 10% of assets would be allocated to units issued by REITs and InvITs with medium to high risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 1000 and in multiples of Re. 1/- thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: 1% - If redeemed on or before 1 year from the date of allotment.
Nil - If redeemed after 1 year from the date of allotment.
Benchmark Index for the scheme is CRISIL Hybrid 35+65 – Aggressive TRI.
The fund managers of the scheme are Siddharth Bothra, Akash Singhania and Abhiroop Mukherjee.

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UTI - Equity Savings Fund Floats On

Aug 10 2018 11:38PM

UTI Mutual Fund has launched a new fund named as UTI Equity Savings Fund, an open ended scheme investing in equity, arbitrage and debt. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 10 August and closes subscription on 24 August 2018.
The investment objective of the scheme is to provide capital appreciation and income distribution to the investors using arbitrage opportunities, investment in equity / equity related instruments and debt / money market instruments.
The scheme shall offer two options i.e. dividend, monthly, quarterly dividend and growth option under both regular and direct plan. Dividend has dividend re-investment and dividend payout facility.
The scheme shall invest 65% - 90% of assets in equity & equity related securities with medium to high risk profile and invest 20% - 75% of asset in of which cash future arbitrage opportunities with low to medium risk profile and invest 20% - 50% of asset in of which net long equity position with medium to high risk profile and invest 10% - 35% of asset in debt and money market securities (including securitized debt & margin for derivatives) with low to medium risk profile and invest upto 10% asset in Units issued by REITs & InvITs with medium to high risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 1000 and in multiples of Re. 1/- thereafter without any upper limit.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: 1% - if redeemed on or before 1 year from the date of allotment.
Nil - if redeemed after 1 year from the date of allotment.
The performance of the scheme will be benchmarked against 40% CRISIL Liquid Fund Index, 30% CRISIL Composite Bond Fund Index and 30% S&P BSE 200.
The fund managers of the scheme are V Srivasta (Equity Portfolio) and Sunil Patil (Debt Portfolio).

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ICICI Prudential Fixed Maturity Plan – Series 83 – 1100 Days Plan X Floats On

Aug 7 2018 12:48PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 83 – 1100 Days Plan X, a close ended debt scheme. The tenure of the scheme is 1100 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 14 August 2018 to 28 August 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 with quarterly and half yearly dividend option.
The scheme will invest 100% - 70% of its assets in debt instruments including government securities and invest up to 30% of assets in money market instruments 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 Short Term Bond Fund Index.
The fund managers of the scheme are Rahul Goswami and Rohan Maru.

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HDFC Fixed Maturity Plan 1113D August 2018 (1) Floats On

Aug 3 2018 9:46PM


HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1113D August 2018 (1), a plan under HDFC Fixed Maturity Plans – Series 42 (a close ended income scheme). The tenure of the scheme is 1113 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 09 August 2018 to 13 August 2018.
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 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 Anupam Joshi.

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UTI Fixed Term Income Fund – Series XXX – I (1104 Days) Floats On

Aug 3 2018 9:45PM

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXX – I (1104Days), a close ended debt scheme. The duration of the scheme is 1104 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 August to 21 August 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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IDFC Fixed Term Plan Series – 160 Floats On

Jul 31 2018 8:18PM

IDFC Mutual Fund has launched a new fund named IDFC Fixed Term Plan Series – 160, a close-ended debt scheme. The tenure of the scheme is 1105 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 06 August 2018 to 08 August 2018.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of each series under the scheme.
The scheme offers two options viz. growth and dividend option. Dividend option offers, quarterly, half yearly, periodic dividend options and default option.
The scheme would invest 100% - 80% of its assets in debt securities with medium to high risk profile and upto 20% of assets in money market instruments (including CBLO) with low to medium risk profile.
Minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is Crisil Composite Bond Fund Index.
The fund manager of the scheme is Anurag Mittal.

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Kotak FMP Series 239 Floats On

Jul 31 2018 8:17PM

Kotak Mahindra Mutual Fund has launched a new fund named as Kotak FMP Series 239, a close ended debt scheme with the duration of 1330 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 03 August to 09 August 2018.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
The scheme offers growth and dividend payout option.
The scheme shall invest 80% - 100% of assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. Investment in derivatives will be up to 50% of the net assets of the scheme.
The minimum application amount is Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.
Entry load and exit load charge will be nil for the scheme.
The scheme performance will be benchmarked against CRISIL Composite Bond Fund Index.
Deepak Agarwal is the fund manager of the scheme.

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Crude Oil Prices Climbs Higher During Weekend

Aug 13 2018 10:46PM

Crude oil prices climbed higher on Friday, lifted by International Energy Agency's forecast that world oil demand will increase by 110,000 barrels a day to 1.5 million barrels next year. The IEA said in its monthly oil market report that maintaining the world's oil supply will be very challenging, due to fresh U.S. sanctions against Iran. However, the agency noted that there were risks to the demand forecast from the escalating trade dispute along with any rally in prices caused by supply constraints.According to reports, China has decided to remove crude oil from its latest tariff list.
Meanwhile, Baker Hughes reported today that the number of active U.S. rigs count increased by 10 to 869 for the week. Last week, rig count had dropped by 2. Crude oil futures for September delivery ended up $0.82, or 1.3%, at $67.63 a barrel. On Thursday, oil futures ended ended down $0.13, or 0.2%, at $66.81 a barrel. For the week, oil futures shed 1.3%, with concerns about likely supply shortage due to sanctions on Iran and disruptions in Libya and Venezuela. Concerns that the U.S.-China trade war could hurt global economic growth and result in a drop in demand for crude too contributed to oil's fall in recent sessions.

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Copper Moves Lower on Monday

Aug 13 2018 10:45PM

Copper prices moved lower on Monday as a currency crisis engulfing Turkey rippled across markets and prompted investors to dump riskier assets. Industrial metals, global stocks and currencies including the Chinese yuan all fell while the dollar surged to a 13-month high, ramping up pressure on metals priced in the U.S. currency by making them more expensive for buyers with other monies.
Speculators have expanded bets on lower prices. In Comex copper the net short position is the highest since September 2016, while on the LME it is rising towards July's peak, brokers Marex Spectron said. China, the world's largest metals user, continued moves to stimulate its slowing economy. Banks issued more new loans than expected in July and the state planner approved $11.45 billion of urban railway projects in a northern city.
Meanwhile, The Indian rupee plunged against the U.S. dollar on Monday, reaching an all-time low, as concerns over the contagion effects of slumping Turkish lira hurt emerging market assets. The Turkish lira hit a fresh record low this morning after closing down as much as 16 percent on Friday as U.S. President Donald Trump doubled steel and aluminum tariffs on Turkey, raising concerns the country may plunge into a financial crisis. Indian shares declined, tracking weakness among global peers, as a renewed rout in the Turkish lira dampened sentiment. Breaching the key 69 level, the rupee dipped 0.9 percent to a record low of 69.64 against the greenback

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Indian Rupee: Tumbles To Fresh Record Lows

Aug 13 2018 1:16PM

The Indian rupee rebounded against the dollar in early trades on Monday, 13 August 2018 on selling of the greenback by banks and exporters. However, rupee tumbled to a new record low as uncertainties surrounding the Turkish Lira is adversely impacting financial markets in India. The Turkish Lira came under pressure following challenges faced by the economy but more importantly due to its deteriorating relationship with the United States. Also, dollar's strength against other currencies overseas and lower opening in the domestic equity markets capped the gains.
Early gains in the local currency were helped by revived sentiments following optimistic macroeconomic outlook. Industrial output recorded a growth of 7 per cent in June on account of higher output in mining, manufacturing and power generation segments, according to data released by the Central Statistics Office (CSO) Friday.
The domestic currency opened at Rs 68.61 against the dollar and strengthened further to hit a high of 68.42 before plunging to a low of 69.62 so far during the day. In the spot currency market, the Indian unit was last seen trading at 69.46. On Friday, the rupee had lost 15 paise to end at 68.83 against the resurgent dollar.
The market came off day's low and was trading with modest losses in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 252 points or 0.67% at 37,617.23. The Nifty 50 index was down 75.15 points or 0.66% at 11,354.35. Weak global cues spoiled investors sentiment in domestic market.
Overseas, Asian shares tumbled on Monday after investor sentiment took a hit amid the slump in the Turkish currency, lira, on geopolitical developments. US stocks dropped on Friday, triggered by fears over the sell-off in the lira after US President Donald Trump said he had approved the doubling of metals tariffs against Turkey on Friday. The lira's decline was the latest sign of turmoil in international economies, particularly emerging markets. The currency tumbled on worries over Turkish President Tayyip Erdogan's increasing control over the economy and deteriorating relations with the United States. Turkey's lira tumbles as much as 12.5% against the dollar as the nation heads for a full-blown financial crisis.
Meanwhile, the dollar index, which measures the US currency's strength against major currencies, was trading at 96.412, up 0.06% from its previous close of 96.357.



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Gold Speculative Longs Tumble To Lowest In Two And Hallf Years

Aug 13 2018 1:14PM

Large precious metals speculators trimmed their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 12,688 contracts in the data reported through Tuesday August 7th. This was a weekly fall of -22,649 contracts. The speculative bullish position declined for a fourth consecutive week and the overall net position standing is now at the lowest bullish level since December 1st of 2015.
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -25,609 contracts on the week. This was a weekly gain of 22,309 contracts.

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Copper Edges Up, MCX Futures Break Above Rs 420 Levels

Aug 10 2018 11:23PM

Copper was trading higher as the United States geared up to begin collecting tariffs on a further $16 billion of Chinese goods later this month but a weaker dollar stemmed losses. MCX Copper was trading at Rs 426 per kg, up 2%.
Copper is still a metal that is suffering under the trade conflict between the US and China. Any new message in this trade conflict which is not pointing towards de-escalation has a negative impact on risky assets including commodities and base metals.
China's imports of copper concentrate rose to an all-time high last month as Chinese smelters ramped up purchases to feed their growing capacity and take advantage of high processing charges.
Alcoa workers in Western Australia have walked out indefinitely over an enterprise agreement dispute with the aluminium maker, the Australian Workers' Union (AWU) said. China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world's largest economies escalated their trade dispute. Aluminium was trading at Rs 146 per kg, up 1.35%. The prices tested a high of Rs 147 and a low of Rs 143.8 per kg.

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Gold Gets Going As US Core Price Inflation Soars

Aug 10 2018 11:22PM


Inflationary concerns came back to support Gold after the metal threatened to test its recent one year lows earlier in the day. According to a report released by the Labor Department, the US consumer price index rose by 0.2% in July after rising by 0.1% in June. Excluding food and energy prices, the core consumer price index also edged up by 0.2% in July, matching the increases seen in the two previous months.
Overall trend in inflation stayed upward on an annual basis. The consumer prices in July were up by 2.9% on year, unchanged from the rate in June. However, the annual rate of growth in core consumer prices jumped to 2.4% in July from 2.3% in the previous month. Core prices showed the fastest year-over-year growth in nearly a decade.
This data pushed Gold higher in a quick manner, with the metal soaring nearly ten dollars in intraday moves. The counter currently trades at $1222.50 per ounce, up 0.20% on the day. The MCX Gold futures also saw a rebound with the benchmark futures currently trading at Rs 29758 per 10 grams, up 0.30% on the day.

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Indian Rupee: Dips To 69/$ On Strong Dollar Overseas

Aug 10 2018 1:08PM

The Indian rupee weakened against the dollar in early trades on Friday, 10 August 2018 owing to a strengthening greenback overseas. Besides, a lower opening in local indices also weighed on sentiment. Increased demand for the US currency from importers and its gains against other currencies overseas also put pressure on the rupee.
The domestic currency declined by 17 paise to 68.85 per dollar in early trade today. Rupee went ahead to touch a low of 69 per dollar in intraday trades, a level last seen on 24 July. In the spot currency market, the Indian unit was last seen trading at 68.9325, off initial lows. Yesterday, the domestic unit had ended lower by 5 paise to 68.68 against the US dollar on renewed buying interest for the greenback even as domestic equities remained in a triumphant mode.
Domestic benchmark indices continued to trade lower in morning trade. At 10:18 IST, the barometer index, the S&P BSE Sensex, was down 90.65 points or 0.24% at 37,933.72. The Nifty 50 index was down 26.75 points or 0.23% at 11,443.95. The Sensex was trading below the psychological 38,000 level after falling below that level in early trade. Stocks edged lower in early trade, with the Sensex falling below the psychological 38,000 level tracking mostly negative Asian stocks.
Overseas, most Asian stock markets dropped as trade and broader geopolitical concerns continue to weigh on over investor sentiment. Japan's economy expanded in the April-June period after a mild contraction in the previous three months. The world's third-largest economy expanded at an annualized pace of 1.9% in the second quarter of 2018 after a revised 0.9% contraction in the first quarter. The US stock market ended mostly lower on Thursday, as investors weighed the continuing trade dispute between the US and China against the backdrop of strong corporate earnings and a healthy economic performance.
Meanwhile, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies, slipped 0.02% to 95.44. The U.S. currency, which is widely seen as a winner in a U.S.-China trade war, was up about 0.6% overnight and traded near the 13-month high of 95.652. Markets are looking ahead to the U.S. consumer price inflation (CPI) report for July due later in the day, which is expected to show inflation likely increased 0.2%, after rising 0.1% in June.

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Copper Drops Ahead Of Weekend

Aug 10 2018 1:07PM

Copper prices dropped Friday after a good session on Thursday. Last evening, strong speculative appetite and stable Chinese inflation data supported the metal, taking it around two week high on COMEX in intraday moves. China is the world's largest consumer of industrial metals, accounting for about half of global copper demand. However, the metal slipped today amid a jaded undertone in risky assets. COMEX Copper is trading at $2.74 per pound, down 0.87% right now. MCX Copper was also down 0.46% at Rs 419 per kg. A drop under Rs 420 per kg levels can bring in more selling today as traders cut positions on the last session of the week.

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Post-Session: Sensex, Nifty slide on Turkey concerns

Aug 13 2018 10:43PM

Domestic stocks logged modest losses weighed by mounting currency crisis in Turkey, which raised the alarm for possible contagion into other markets. The barometer index, the S&P BSE Sensex, lost 224.33 points or 0.59% to settle at 37,644.90. The Nifty 50 index fell 73.75 points or 0.65% to settle at 11,355.75. Indices remained in negative zone throughout the day.
The indices opened lower and hit fresh intraday low in early trade. Stocks came off day's low and were trading with modest losses in morning trade. Indices recovered sharply in afternoon trade. Indices once again turned weak in mid-afternoon trade as selling resumed.
The Sensex lost 224.33 points or 0.59% to settle at 37,644.90. The Sensex fell 69.69 points, or 0.18% at the day's high of 37,799.54 in afternoon trade. The index fell 309.97 points, or 0.82% at the day's low of 37,559.26 in early trade.
The Nifty fell 73.75 points or 0.65% to settle at 11,355.75. The Nifty fell 23.20 points, or 0.20% at the day's high of 11,406.30 in afternoon early trade. The index fell 89.20 points, or 0.78% at the day's low of 11,340.30 in early trade.
Among secondary barometers, the BSE Mid-Cap index fell 0.70%. The BSE Small-Cap index fell 0.78%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On BSE, 956 shares rose and 1724 shares fell. A total of 177 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE Oil & Gas index (down 1.93%), the S&P BSE Bankex (down 1.2%), and the S&P BSE Power index (down 0.99%) underperformed the Sensex. The S&P BSE IT index (up 1.24%), the S&P BSE Teck index (up 0.77%), the S&P BSE Healthcare index (up 0.55%) outperformed the Sensex.
Sun Pharmaceuticals Industries (up 1.65%), Mahindra & Mahindra (up 0.96%), IndusInd Bank (up 0.62%) and ITC (up 0.39%) edged higher from the Sensex pack.
Vedanta (down 3.4%), State Bank of India (down 3.17%), Yes Bank (down 3.11%), Axis Bank (down 1.68%), ONGC (down 1.6%), HDFC (down 1.48%) and Reliance Industries (down 1.4%) were the major Sensex losers.
IT stocks rose as the rupee fell to a record low against the dollar as a currency turmoil in Turkey sparked worries of potential market contagion. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
Hexaware Technologies (up 2.63%), Tech Mahindra (up 2.01%), MindTree (up 3.26%), Wipro (up 1.31%), Larsen & Toubro Infotech (up 0.99%), Oracle Financial Services Software (up 1.61%), HCL Technologies (up 1.7%), MphasiS (up 1.03%), Persistent Systems (up 0.16%), Infosys (up 1.75%) and TCS (up 0.33%) edged higher.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.84, compared with closing of 68.8350 during the previous trading session.
Tata Steel fell 1.1% ahead of its Q1 June 2018 result today, 13 August 2018.
Coal India rose 0.89% after consolidated net profit surged 61.07% to Rs 3786.44 crore on 25.05% rise in total income to Rs 25470.86 crore in Q1 June 2018 over Q1 June 2017. On a consolidated basis, Coal India's production of raw coal rose to 136.85 million tonne in Q1 June 2018 from 118.84 million tonne in Q1 June 2017. Offtake rose to 153.47 million tonne from 137.42 million tonne. The announcement was made on Saturday, 11 August 2018.
Engineering and construction major Larsen & Toubro (L&T) rose 0.29%. Buildings & factories business of L&T Construction has bagged an engineering, procurement and construction (EPC) order worth Rs 3028 crore from GMR Hyderabad International Airport (GHIAL). The scope of work includes execution and implementation of EPC for expansion of the Terminal Building and Airside Infrastructure Works at the Rajiv Gandhi International Airport, Hyderabad, Telangana. This is a brownfield airport expansion project to be handed over within a stringent timeline. The announcement was made during trading hours today, 13 August 2018.
DLF fell 1.07% after the company announced robust Q1 result after market hours on Friday, 10 August 2018. On a consolidated basis, DLF reported 58.19% rise in net profit to Rs 172.44 crore on 25.03% fall in total income to Rs 1657.67 crore in Q1 June 2018 over Q1 June 2017.
New sales booking during the quarter stood at Rs 600 crore. Given the current momentum, the company remains on track to achieve fresh sales booking of Rs 2000 to 2250 crore in the current fiscal. The commercial leasing business continues to grow steadily and is experiencing healthy momentum. The company is working towards achieving net debt zero in its development business, in the near future. This would be achieved through equity infusion during the current year.
DLF remains focussed on monetization of finished inventory which would result in surplus cash flows which shall primarily be utilised for debt reduction and balance cash surplus will be utilized by the company to re-invest in development of new projects for both sale and lease business.
Sheela Foam gained 6.45% after consolidated net profit rose 15.69% to Rs 32.59 crore on 19.64% rise in total income to Rs 508.37 crore in Q1 June 2018 over Q1 June 2017. The announcement was made after market hours on Friday, 10 August 2018.
Sheela Foam's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 16% to Rs 51 crore in Q1 June 2018 over Q1 June 2017. EBITDA margin stood at 10% in Q1 June 2018. The revenue from operations from Australia increased from Rs 72 crore to Rs 76 crore. The EBITDA, however, went down from Rs 4 crore to Rs 2 crore. The EBITDA margins in Australia went down due to high TDI prices during the quarter.
On the economic front, India's industrial production growth rebounded to five month high of 7% in June 2018, while recovering from a seven-month low of 3.9% in May 2018. The industrial production growth for May 2018 has been revised upwards from 3.2% increase reported provisionally.
Overseas, European equities fell as banking shares tumbled amid concerns about the Turkish economic crisis affecting liabilities of the region's lenders. The turmoil in Turkish markets continued as President Recep Tayyip Erdogan showed no signs of backing down in a standoff with the US administration, with the lira's decline spurring concern about European lenders' exposure to the nation.
Asian shares declined on Monday after investor sentiment took a hit amid the slump in the Turkish currency, lira, on geopolitical developments. US stocks dropped on Friday, triggered by fears over the sell-off in the lira after US President Donald Trump said he had approved the doubling of metals tariffs against Turkey on Friday.

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LME Inventory

Apr 12 2017 1:51PM

       COPPER: -850 MT

       ZINC: -1850 MT

       LEAD: -1025 MT

       NICKLE: -1194 MT

       ALUMINIUM: -13575 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]