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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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L&Ts arm bags residential order worth Rs 2,903 crore

Mar 28 2017 11:08AM

Larsen & Toubro’s (L&T) construction arm - L&T Constructions has bagged a major residential order worth Rs 2,903 crore. The Building & Factories Business of L&T Construction has bagged a major design & build order to re-develop Mumbai’s century-old BDD Chawls for Maharashtra Housing and Area Development Authority (MHADA). The prestigious contract is the largest residential project awarded to L&T Construction till date.
The scope of work comprises complete design and construction of twenty residential towers (3B+G+23F) for rehabilitation, four high-rise towers (3B+G+72F) for sale and one commercial development (3B+G+21F) within a plot area of 16 acres along with MEP, finishes, onsite/offsite infrastructure, landscaping, demolition of existing structures and logistics involved in the rehabilitation of the current occupants.
Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operation

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IL&FS Engineerings JV bags road projects worth Rs 175.49 crore in Madhya Pradesh

Mar 28 2017 11:08AM

IL&FS Engineering and Construction Company’s joint venture (JV) has been issued a Letter of Award (LoA) by MPRDC for road projects to be carried out in Madhya Pradesh. The projects are worth Rs 175.49 crore to be completed within 20 months. The JV (51:49) has been declared as the lowest bidder for Package no P-2 by the Madhya Pradesh Road Development Corporation (MPRDC) for widening and reconstruction of Ganj - Rajnagar Road, Laundi -Mahoba Road, Nawgong - Shrinagar Road & Baxwaha - Dalpatpur Road funded by New Development Bank under Madhya Pradesh Major District Roads Upgradation Project (MPMDRUP). IL&FS Engineering and Construction Company is one of the leading multi-national Infrastructure Development, Construction and Project Management companies with nearly three decades of rich and varied experience in executing landmark projects.

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Kaveri Seed Company to buyback shares worth Rs 200 crore

Mar 27 2017 6:19PM

Kaveri Seed Company has received its board’s approval to buyback equity shares worth Rs 200 crore through a tender offer. The company will buy back 2.96 million equity shares (representing 4.29% of the total paid-up equity share capital) from shareholders on a proportionate basis. The buyback would be through a tender offer at a price of Rs 675 per share payable in cash.
Kaveri Seed Company, one of the leading seed companies of the country, is engaged in production, processing and marketing of seeds to farmers. It provides seeds for different crops like corn, sunflower, cotton, paddy, and grain sorghum. It products also includes micro-nutrients and bio products

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BEML bags prestigious order worth Rs 1421 crore from BMRCL

Mar 27 2017 6:18PM

BEML has bagged a prestigious order worth Rs 1421 crore from Bangalore Metro Rail Corporation (BMRCL) for supply of 150 sets of Intermediate Metro Cars to augment the existing 3 Car Trains supplied by BEML to 6 Car trains. With the above order, the overall Order Book position of the company has crossed Rs 7500 crore mark.
BEML is a Public Sector Mini Ratna Category-I Company under the Ministry of Defence and the premier manufacturer of Metro Cars. The company is the leading rolling stock supplier in the Country

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Shriram EPC in JV bags order worth $107.76 million in Tanzania

Mar 27 2017 6:18PM

Shriram EPC (SEPC) has been awarded an overseas contract for an amount of $107.76 million to be executed in JV with Larsen & Toubro out of which SEPC share will be 25%. This engineering and procurement and construction order has been secured from the Ministry of Water & Irrigation United Republic of Tanzania for the extension of Water transmission pipeline from the Lake Victoria Water supply scheme to Tabora, Nzega and lgunga Towns (Package II). 
The scope of work involves survey, design, procurement, construction and installation of pumping stations, rising and gravity/mainlines, elevated and ground level storage reservoirs, branch lines and distribution network and water kiosks for the creation of a comprehensive water supply and transmission pipeline to Tabora town and 33 other villages that are en route. This order win represents another big step forward for the company as it increases the scale of its international presence. 
Shriram EPC is one of the leading  service providers  of the integrated designs, engineering, procurement, construction and  project management services  for power plants, renewable  energy projects, process and metallurgical plants and municipal service sector projects throughout India and overseas

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Aban Offshore bags contract worth Rs 471 crore from ONGC

Mar 27 2017 3:06PM

Aban Offshore has received a Letter of Award (LoA) from ONGC for the charter hire of Drillship Aban ICE for a firm period of 3 years. The total value of this contract is around $72.365 Million (equivalent to Rs 471 crore). The deployment is expected to commence during the second quarter of calendar year 2017.
Aban Offshore is engaged in the business of providing offshore drilling and production services. The Company's operating segments include offshore oil drilling and production services, and wind power generation (Wind energy). It is also engaged in the ownership and operation of wind turbines for generation of wind power in India

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Skipper bags orders worth Rs 405 crore

Mar 24 2017 11:44AM

Skipper has secured contracts worth around Rs 405 crore for supply of Transmission Towers to the projects of Power Grid Corporation of India (PGCIL), Transmission Corporation of Telengana (TSTRANSCO) and Power Transmission Corporation of Uttrakhand (PTCUL).
Skipper is engaged in structural fabrication and manufacturing of mild steel and galvanized iron pipes, steel tubular poles, scaffolding and accessories and PVC pipes. Structural fabrication is the major contributor to the revenue of the company

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Ujaas Energy bags order from IPGCL

Mar 24 2017 11:44AM

Ujaas Energy has bagged an order from Indraprastha Power Generation Company (IPGCL) for implementation of Grid connected Rooftop Solar PV system of 669 Kwp under capex model in selected GNCTD schools & schools & other Government Buildings in Delhi.
Last year in December, the company had received Letter of Intent from MOIL for Design, Engineering, Procurement & Supply, construction, erection, testing & Commissioning of Solar PV Plant with Tracking system on turnkey basis 5.0 MW (AC) in Maharashtra.
Ujaas Energy is engaged in solar power plant operation business, and manufacturing and sale of solar power system. The company's segments include Transformer, Solar Power Plant Operation, and Manufacturing & Sale of Solar Power Systems

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Reliance Infrastructure intimates of incorporation of Dassault Reliance Aerospace

Feb 16 2017 2:37PM

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

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Super Crop Safe receives GMP Certificate

Feb 16 2017 2:36PM

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

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

Feb 16 2017 2:36PM

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


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Viceroy Hotels appoints compliance officer

Feb 14 2017 2:01PM

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



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Loyal Equipments secures order worth Rs 1.46 crore

Feb 14 2017 2:00PM

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

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Prime Securities allots 41800 equity shares

Feb 10 2017 12:56PM

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

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

Feb 10 2017 12:55PM

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

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

Feb 9 2017 4:05PM

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

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ICICI Prudential Mutual Fund announces 0.01% dividend

Feb 21 2017 5:40PM

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

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0.04% Div announced by Birla Sun Life Mutual Fund

Feb 21 2017 5:39PM

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

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Indiabulls MF Announces introduction of dividend options under its schemes

Feb 16 2017 2:37PM

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

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

Feb 16 2017 2:37PM

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Fixed Term Plan – Series OD (1145 days), a close ended income scheme. The tenure of the scheme is 1145 days from the date of allotment of units. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription only on 16 February 2017.The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility) and Quarterly Dividend sub-option (Payout Facility).
The scheme would invest 80%-100% of assets in debt securities (excluding money market instruments), invest upto 20% of assets in money market instruments with low to medium risk profile and invest upto 20% of assets in government securities with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index
The fund manager of the scheme will be Mohit Sharma.

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Mahindra Mutual Fund Alp Samay Bachat Yojana Floats On

Feb 14 2017 2:04PM

Mahindra Mutual Fund has launched a new fund named as Mahindra Mutual Fund Alp Samay Bachat Yojana, an open ended debt scheme. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 February and close on 15 February 2017.The investment objective of the Scheme is to provide reasonable returns, commensurate with a low to moderate level of risk and high degree of liquidity, through a portfolio constituted of money market and debt instruments.
The scheme offers two options viz. growth and dividend option under both regular and direct plan.
The scheme would allocate 70%-100% of assets in money market & debt instruments with maturity / residual maturity less than or equal to 1 year with low risk profile and invest upto 30% of assets in debt instruments with maturity / residual maturity greater than 1 year and units of mutual fund schemes with low to medium risk profile. Debt instruments includes Securitized debt upto 30% and investments in derivatives upto 50% of the net asset of the scheme.
The minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Not applicable.
Exit load: Nil
Benchmark Index for the scheme is CRISIL Liquid Fund Index
The fund manager for the scheme is Rahul Pai

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IDFC Credit Opportunities Fund Floats On

Feb 14 2017 2:03PM

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


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

Feb 10 2017 12:52PM

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

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0.08% Div announced by Tata Mutual Fund

Feb 10 2017 12:52PM

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

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White metal loses shine on weak overseas cues

Feb 21 2017 5:38PM

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



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Copper futures drop on dollar

Feb 21 2017 5:37PM

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

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Yellow metal shines on global cues

Feb 16 2017 2:40PM

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

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Crude oil futures flat on OPEC cuts

Feb 16 2017 2:39PM

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

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Sluggish physical demand drags down mentha oil futures by 0.52%

Feb 14 2017 1:53PM

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

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Aluminium futures keep head above water

Feb 14 2017 1:53PM

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

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Lead futures little changed as demand picks up

Feb 14 2017 1:52PM

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

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Copper futures rise on increasing demand

Feb 10 2017 12:51PM


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

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Mid-Session:Markets continue to trade higher in noon trade

Mar 28 2017 1:43PM

Indian benchmark indices continued to trade in tight band in afternoon deals with a gain of over half a percent. Investors remained optimistic on hopes that the Goods and Services Tax (GST) will be implemented on time. The government introduced the supporting legislation for the goods and services tax (GST) in Parliament on Monday, reinforcing expectations that it would make the 1 July deadline for the roll-out of this singular tax reform.  Some support also came with the report that manufacturing activity improved in March after a three months of decline, while various government measures are likely to push up activity in the infrastructure sector going forward. The yearly SBI Composite Index, one of leading indicator for manufacturing activity in the Indian economy, bounced back to above 50-mark level to 50.3 after 3-months of decline. Besides, firm Asian cues and sustained foreign fund inflows too supported the market. In scrip specific development, Suven Life Sciences (Suven) was up by over a percent after securing one product patent from New Zealand (712369) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and the Patent is valid through 2033.
On the global front, Asian markets were trading mostly in green as investors shrugged off the mixed cues overnight from Wall Street and disappointment from U.S. President Donald Trump's inability to advance the healthcare bill to repeal and replace Obamacare. Back home, the BSE Sensex is currently trading at 29405.61, up by 168.46 points or 0.58% after trading in a range of 29301.22 and 29442.18. There were 23 stocks advancing against 7 stocks declining on the index.
The broader indices were trading in green; the BSE Mid cap index was up by 0.71%, while Small cap index was up by 0.84%.
The top gaining sectoral indices on the BSE were Telecom up by 0.85%, Basic Materials up by 0.79%, Auto up by 0.75%, Bankex up by 0.74% and Healthcare up by 0.74%, while Oil & Gas down by 0.28%, PSU down by 0.09% and Energy down by 0.03% were the losing indices on BSE.
The top gainers on the Sensex were Axis Bank up by 2.27%, HDFC up by 1.54%, Sun Pharma up by 1.45%, Tata Motors up by 1.21% and Asian Paints up by 1.15%. On the flip side, ONGC down by 1.11%, GAIL India down by 0.55%, ITC down by 0.32%, Coal India down by 0.22% and Hero MotoCorp down by 0.16% were the top losers.
Meanwhile, the Commerce Secretary Rita Teaotia has said that India is offering far deeper proposals in the proposed mega Regional Comprehensive Economic Partnership (RCEP) agreement than most of the other member nations of the grouping, for liberalisation of trade in services. She also said that the country will give more concessions in RCEP than any other country will do.
Highlighting on the importance of trade in goods and services, the commerce Secretary has said that the sector holds huge potential to boost economic growth and create employment in all economies. Talking on the second review of India-Singapore free trade agreement, she said that there have been difficulties in concluding this review due to certain small issues.
Citing certain issues, Rita Teaotia said that the asset management ratio for Indian banks has tended to be higher than it is for counterpart banks from other nationalities. She also pointed out that in India, this ratio is same for both foreign and Indian banks, but in Singapore, it is hard to know on exactly what premise the asset management ratio is based. Therefore, it leads to worries and concerns in the industry. She added that the other issue is the restrictions in the movement of professionals.
The RCEP is a mega trade agreement being negotiated among 16 countries including ASEAN, India, China, Japan, South Korea, Australia and New Zealand. It aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.
The CNX Nifty is currently trading at 9102.50, up by 57.30 points or 0.63% after trading in a range of 9080.80 and 9109.75. There were 41 stocks advancing against 9 stocks declining on the index.
The top gainers on Nifty were Axis Bank up by 2.36%, Zee Entertainment up by 2.06%, Tata Motors - DVR up by 1.97%, HCL Tech. up by 1.74% and Bharti Infratel up by 1.74%. On the flip side, Tech Mahindra down by 2.49%, ONGC down by 1.11%, GAIL India down by 0.76%, Tata Power down by 0.46% and Hero MotoCorp down by 0.27% were the top losers.
Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 4.22 points or 0.24% to 1,749.17, KOSPI Index rose 7.65 points or 0.35% to 2,163.31, Hang Seng surged 98.09 points or 0.41% to 24,291.79 and Nikkei 225 was up by 217.28 points or 1.14% to 19,202.87.
On the flip side, Jakarta Composite decreased 25.93 points or 0.47% to 5,541.20, Shanghai Composite was down by 13.07 points or 0.4% to 3,253.88 and Taiwan Weighted declined 0.32 points or 0% to 9,876.45. 

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Mar 27 2017 2:19PM

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