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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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S P Apparels extends post result rally

Aug 26 2016 1:04PM

On BSE, so far 1.32 lakh shares were traded in the counter against average daily volume of 1.29 lakh shares in the past two weeks. The stock was locked at high of Rs 339.25 so far during the day, which is a record high for the stock. The stock hit low of Rs 332.20 so far during the day. The stock had hit a record low of Rs 276 on 17 August 2016.

The small-cap company has equity capital of Rs 25.17 crore. Face value per share is Rs 10.

Shares of S P Apparels had hit 5% upper circuit to settle at Rs 323.10 yesterday, 25 August 2016 after the company announced after market hours on 24 August 2016 that consolidated net profit jumped 143.77% to Rs 16.43 crore on 32.02% rise in total income to Rs 164.41 crore in Q1 June 2016 over Q1 June 2015.

S P Apparels reported revenue growth of 23.3% in garments division and 74.1% in retail division although on a smaller base in Q1 June 2016 over Q1 June 2015. Growth in revenue of garments division was driven by increase in sewing capacity. The consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 64.5% to Rs 34.21 crore in Q1 June 2016 over Q1 June 2015. EBITDA was boosted by mark-to-market gain of Rs 4.77 crore in Q1 June 2016. EBITDA margin improved by 4.1% to 20.8% in Q1 June 2016 from 16.7% in Q1 June 2015.

Shares of S P Apparels were listed on the bourses on 12 August 2016. S P Apparels is a leading manufacturer and exporter of knitted garments for infants and children.

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Uflex gains after successfully testing Flexfresh

Aug 26 2016 1:03PM

On BSE, so far 7,152 shares were traded in the counter as against average daily volume of 88,082 shares in the past one quarter. The stock hit a high of Rs 234 and a low of Rs 230.75 so far during the day. The stock had hit a 52-week high of Rs 253 on 25 July 2016. The stock had hit a 52-week low of Rs 132.20 on 29 February 2016. The stock had underperformed the market over the past 30 days till 25 August 2016, falling 5.2% compared with Sensex's 0.67% fall. The scrip had, however, outperformed the market in past one quarter, advancing 23.26% as against Sensex's 4.44% rise.

The small-cap company has equity capital of Rs 72.21 crore. Face value per share is Rs 10.

Uflex said that the trials were jointly performed with Perfotec in India as well as Holland with leading growers and importers to determine the shelf life extension solution for Papaya. Perfotec and Uflex have been working with fresh produce growers to maximize shelf life using active modified atmosphere packaging (AMAP) solution. Trials were conducted with flexfresh liner bags in open top corrugated boxes. Product was packed semi ripe condition in warm condition inside liner bags and were hermetically closed and moved to the cold store. By using flexfresh liner bags the product remains dry and registers a very low weight loss, due to the hydrated environment inside the bag, Uflex said. N Siva Shankaran Vice President - Flexfresh at Uflex said that Flexfresh does not allow condensation due to its unique proprietary formulation giving a major relief to exporters against bacterial and fungal infections. With the biodegradability bag, it is a perfect sustainable solution.

On consolidated basis, Uflex's net profit rose 11.62% to Rs 86.16 crore on 4.52% decline in net sales to Rs 1480.42 crore in Q1 June 2016 over Q1 June 2015.

Uflex is one of the India's largest end-to-end flexible packaging companies.

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Engineers India jumps 14.5% in three sessions

Aug 26 2016 1:02PM

More than usual volumes were witnessed on the counter. On BSE, so far 2.56 lakh shares were traded in the counter as against average daily volume of 1.38 lakhs shares in the past one quarter. The stock hit a high of Rs 268.90 in intraday trade so far during the day, which is 52-week high for the counter. The stock hit a low of Rs 261 so far during the day. The stock had hit a 52-week low of Rs 143.25 on 17 February 2016. The stock had outperformed the market over the past one month till 25 August 2016, gaining 13.25% compared with 0.92% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 45.49% as against Sensex's 7.55% rise.

The mid-cap company has equity capital of Rs 168.47 crore. Face value per share is Rs 5.

Shares of Engineers India jumped 14.5% in three sessions, from a close of Rs 231.70 on 23 August 2016, to current ruling price of Rs 265.30. Engineers India's net profit rose 50.07% to Rs 80.30 crore on 11.74% drop in total income to Rs 396.40 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on 23 August 2016.

State-run Engineers India provides engineering consultancy and EPC services, mainly to the oil and gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar and nuclear power and fertilizers to leverage its strong technical competencies and track record. The government of India holds 59.37% in Engineers India (as per shareholding pattern as on 30 June 2016).

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Steel, cement stocks drop on reports of hike in rail freight rates

Aug 23 2016 3:28PM

Among steel stocks, Bhushan Steel (down 0.71% to Rs 42), Tata Steel (down 1.07% to Rs 383.3), Steel Authority of India (down 0.9% to Rs 49.75), and JSW Steel (down 0.75% to Rs 1,755.1) edged lower. Jindal Steel & Power rose 1.92% to Rs 87.55.

Among cement stocks, ACC (down 0.33% to Rs 1,653.6), Shree Cement (down 2.86% to Rs 16,620), Ambuja Cements (down 0.18% to Rs 270.05), and UltraTech Cement (down 1.03% to Rs 3,826) declined.

Grasim Industries rose 0.41% to Rs 4,522.05. Grasim has exposure to the cement sector through its holding in UltraTech Cement.

The hike in freight rates by Indian Railways would increase operational costs for steel and cement companies.

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Tata Power Company drops after weak Q1 outcome

Aug 23 2016 3:27PM

On BSE, so far 16.86 lakh shares were traded in the counter, compared with average daily volume of 4.67 lakh shares in the past one quarter. The stock hit a high of Rs 78.30 and a low of Rs 73.80 so far during the day. The stock had hit 52-week high of Rs 79.20 yesterday, 22 August 2016. The stock had hit 52-week low of Rs 55 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 August 2016, gaining 7.22% compared with 0.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 7.74% as against Sensex's 10.59% rise.

The large-cap company has equity capital of Rs 270.46 crore. Face value per share is Re 1.

Tata Power Company said that Q1 bottom line was impacted due to one off items as well as first time impact on account of Indian Accounting Standards (Ind AS). During Q1 June 2016, the company's wholly-owned subsidiary Coastal Gujarat Power (CGPL) had Rs 286 crore adverse profit after tax (PAT) impact due to overhauls had a lower than 80% availability factor which has led to Rs 90 crore PAT impact. CGPL had one time cost on account of dredging of Rs 33 crore. CGPL had extra depreciation of Rs 30 crore due to impairment reversals. Tata Power also had an impact of Rs 133 crore due to mark-to-mark forex movement in the profit & loss (P&L).

Tata Power Company's CEO & Managing Director Anil Sardana said that the company's focus on operational improvements have continued to show good results. All the company's subsidiaries and plants have shown strong performance despite very challenging circumstances, Sardana said. The company has grown its footprint and commissioned projects at South Africa & Zambia, he said. This quarter reflects changes in treatment of forex mark-to-mark, interest on equity to CGPL and several items that have impacted PAT due to change to Ind AS, Sardana said. He said that the company aims to pursue a well charted growth strategy by demonstrating a high level of commitment towards cleaner sources of generation thus increasing the share of non-fossil fuel based energy output to 30-40% by 2025.

Tata Power Company is India's largest integrated power company with a growing international presence. The company has presence in all the segments of the power sector viz. fuel security and logistics, generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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Himachal Futuristic Comm drops after announcing weak Q1 results

Aug 23 2016 3:27PM

On BSE, so far 11.42 lakh shares were traded in the counter as against average daily volume of 11.26 lakh shares in the past one quarter. The stock hit a high of Rs 16.60 and a low of Rs 16.05 so far during the day. The stock had hit a 52-week high of Rs 24.70 on 12 January 2016. The stock had hit a 52-week low of Rs 10.85 on 25 August 2015.

Himachal Futuristic Communications is a leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables.

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NTPC drops after uninspiring Q1 outcome

Aug 22 2016 6:26PM

On BSE, so far 9.83 lakh shares were traded in the counter as against average daily volume of 5.48 lakh shares in the past one quarter. The stock hit a high of Rs 168.80 and a low of Rs 162.45 so far during the day. The stock had hit a 52-week low of Rs 107.20 on 25 August 2015. The stock had hit a 52-week high of Rs 169.95 on Friday, 19 August 2016. The stock had outperformed the market over the past one month till 19 August 2016, rising 7.68% compared with 1.32% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 21.89% as against Sensex's 10.97% rise.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC Group's commercial capacity increased by 2,735 megawatts (MW) to 45,878 MW as on 30 June 2016 from 43,143 MW as on 30 June 2015. Installed capacity rose by 2,130 MW to 47,178 MW as on 30 June 2016 from 45,048 MW as on 30 June 2015.

NTPC, India's largest power company, has presence in the entire value chain of power generation business.

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NIIT gains after inaugurating European delivery centre

Aug 22 2016 6:25PM

High volumes were witnessed on the counter. On BSE, so far 9.98 lakh shares were traded in the counter, compared with an average volume of 3.06 lakh shares in the past one quarter. The stock hit a high of Rs 97.65 and a low of Rs 90.50 so far during the day.

The mid-cap company has an equity capital of Rs 33.12 crore. Face value per share is Rs 2.

NIIT had earlier announced the setting up of its Dublin centre in September 2015, when the Prime Minister of India had visited Ireland. The centre will be at the heart of NIIT's Europe operations and will provide managed training services to leading companies in Europe and North America. The centre was initially set up with local new hires and NIIT will continue to invest in hiring over 100 local employees in the coming months, it said in a statement.

NIIT, a global leader in skills and talent development, offers multi-disciplinary learning management and training delivery solutions to corporations, institutions, and individuals in over 40 countries. NIIT has three main lines of business across the globe-corporate learning group, skills and careers group, and school learning group.

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Sree Rayalaseema Hi- - Board Meeting on August 29, 2016

Aug 23 2016 3:30PM


 Sree Rayalaseema Hi-Strength Hypo Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on August 29, 2016, inter-alia, to transact the following;

1. The allotment of convertible warrants under preferential issue to promoters of the Company and fixation of minimum price of the same.

2. To dispose off Company holdings in all four Wholly Owned Subsidiary Companies (which are not material subsidiaries as per SEBI(LODR) Regulations, 2015)

3. To take decision on withholding the filing of company petition in relation to Scheme of Arrangement between Company and its four Wholly Owned Subsidiary Companies.

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Tata Power tanks over 4% on weak Q1

Aug 23 2016 3:30PM

Shares of Tata Power Company, the electric utility arm of Tata group, dipped over 4 per cent on the Bombay Stock Exchange after the company reported a decline of 76.08 per cent in its consolidated net profit at Rs 72.49 crore for the first quarter ended June 30, 2016, as compared to Rs 303.14 crore in the year ago period.

Weighed down by weak Q1, the stocks of company declined as much as 4.46 per cent in intra-day trade to Rs 73.80 per cent on Bombay Stock Exchange.

In a similar fashion, stocks of company fell 2.92 per cent to close at Rs 74.80 apiece on the National Stock Exchange.

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Kumaka Industries - Fixes Book Closure for AGM

Aug 22 2016 3:10PM

Kumaka Industries Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 13, 2016 to September 20, 2016 (both days inclusive) for the purpose of 42nd Annual General Meeting (AGM) of the Company to be held on September 20, 2016.

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Mahanagar Gas surges nearly 3% on dividend payment

Aug 22 2016 3:09PM



 Shares of Mahanagar Gas, a joint-venture between GAIL, BG Group and the Government of Maharashtra, rose over 3 per cent on the Bombay Stock Exchange even after the company announced final dividend payment.

“The board of directors of the company at its meeting held on May 30, 2016 had recommended a final dividend at 175 per cent inter alia Rs. 17.50 (including Special Dividend of Rs. 7.50) per share on 89341600 equity shares of Rs. 10/- each of the company for approval of the shareholders in the forthcoming annual general meeting of the company,” Mahanagar Gas said in a filing to BSE.

Following the announcement, the stocks of company gained as much as 2.72 per cent in intra-day trade to Rs 592.80 per cent on Bombay Stock Exchange.

In a similar fashion, stocks of company climbed 2.36 per cent to trade at Rs 590.95 apiece on the National Stock Exchange.

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India Cements Q1 net up 16% at Rs 43.98 cr

Aug 18 2016 6:22PM

India Cements Ltd has reported that its standalone net profit for the first quarter ended June 30, 2016 climbed by 16.35 per cent at Rs 43.98 crore from the same period a year ago even as revenue fell.

In Q1 FY 2015-16, the company had posted a net profit of Rs 37.8 crore, India Cements Ltd said in a filing to the Bombay Stock Exchange (BSE).

Net sales fell 1.54 per cent at Rs 1,202.49 crore in Q1 FY 2016-17 from Rs 1,221.29 crore in the same period a year ago.

Total expenses fell by 2.63 per cent at Rs 1,052.24 crore in Q1 FY 2016-17 from Rs 1,080.65 crore in the same period a year ago.

Finance costs fell 14.6 per cent at Rs 82.45 crore in Q1 FY 2016-17 from Rs 96.53 crore in the same period a year ago.

The company posted an EBITDA margin of 17.02 per cent in the first quarter of the ongoing fiscal year which ends on March 31, 2017.

Shares of India Cements Ltd soared by 3.1 per cent to trade at Rs 128 a piece at 14:14 PM IST on Thursday on the BSE as investors gave thumbs up to the company’s Q1 report card.

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Dion Global Solutions to raise fund upto Rs 300 cr via QIP

Aug 18 2016 6:20PM

 Dion Global Solutions, an Indian financial services company, has said that it would raise upto Rs 300 crore through qualified institutions placement (QIP), foreign currency convertible bond (FCCB) and convertible securities.

“The board of directors of the company at its meeting on August 18, have considered and approved the enabling fund raising option upto Rs 300 crore including but not limited to qualified institutions placement (QIP), foreign currency convertible bond (FCCB), convertible securities or any other method,” Dion Global Solutions said in a filing to Bombay Stock Exchange. The company further said that the board would also recommend the same to the shareholders for their approval at the ensuing annual general meeting of the company.

Meanwhile, shares of company were trading at Rs 70.80 apiece, down 0.42 per cent, from previous close on BSE at 2:50 PM.



 

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Apollo Tyres in talks with 2-wheeler firms for direct supply

Aug 18 2016 6:19PM

Apollo Tyres has initiated talks with two-wheeler manufacturers in India to supply tyres as part of its plans to expand business in the new segment where it is currently present only in after sales market.

The firm, which had forayed into two-wheeler segment in March, is also likely to start "discussing and debating" sometime next year on whether to start manufacturing the tyres on its own. It currently outsources manufacturing of two-wheeler tyres from a third party.

"We started with the replacement market but already some of the OEMs (original equipment manufacturers) have reached out to us and we have begun a dialogue. But like for any product category the OEM approval goes through a certain process. So we are unlikely to have any OEM volumes in the current year," Apollo Tyres Chief Financial Officer Gaurav Kumar told analysts.

When asked whether the company might have some OEMs volumes from next year onwards, he said "yes".

He, however, did not disclose the names of two-wheeler manufacturers that Apollo Tyres has initiated talks with.

Company sells its Apollo Acti series of tyres for motorcycles and scooters in the aftermarket.

On company's strategy for manufacturing of two-wheeler tyres, Kumar said: "As of now we do not have plans to enter manufacturing, we are still within the first year and based on our tie up, we think we have enough at least to last us a couple of years even if we go on an aggressive scale up mode on the two-wheeler volumes. So this is a question we would start discussing and debating probably somewhere next year."

On availability of spare capacity in industry for two- wheeler tyres, he said Apollo Tyres hasn't felt any kind of capacity crunch from its supplier.

"We have got a certain dedicated capacity for ourselves," Kumar said.

Outlining company's strategy of not pursuing two-wheeler tyre volumes at the cost of profitability, he said: "We have in fact had a fairly significant launch expense coming in when we started in previous quarter and that was factored into the overall costs and we still maintained profitability."

Kumar further said there are typically higher expenses in the initial stages of entry into any segment but "we are not looking at subsidising this segment as just a strategic segment and sacrificing profitability".

He said Apollo Tyres' entry into two-wheeler segment "continues to work well and has provided us opportunities for new distribution network in the rural areas".

"The penetration of two-wheeler tyres is particularly more significant in the rural markets. Earlier given the fact that we did not have two-wheeler tyres there were certain tyre distribution people who would have an inclination to go with some of our peers because we did not have this particular segment in our arsenal. And that sometimes was the limitation in some cases," Kumar said.

Although the company has a market share of low single digits in the replacement market where it operates, Kumar said "But we do have plans and ambition to be a decent player in that overall segment".

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Hindustan Unilever to acquire Blueair

Aug 16 2016 7:38PM

Unilever has signed an agreement to acquire Blueair, world's leading supplier of innovative mobile indoor air purification technologies and solutions.

Launched in 1996 in Stockholm, Blueair had a turnover of USD 106 million in 2015 and is a leading player in the premium category of air purifiers in markets like China, US, Japan, South Korea and India. The acquisition is seen complementing Unilever's existing water purification business.

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0.02% Div announced by Birla Sun Life Mutual Fund

Aug 23 2016 3:32PM

Birla Sun Life Mutual Fund has announced 0.02 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 August 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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ICICI Prudential Mutual Fund launches New Close Ended Scheme

Aug 23 2016 3:31PM



ICICI Prudential Mutual Fund has launched a new close ended debt fund scheme named “ICICI Prudential Fixed Maturity Plan- Series 79 - 1106 Days Plan M” with maturity period of 1106 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on August 19 and will close on August 23. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Cumulative and Dividend option. The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Rahul Goswami and Rohan Maru will be the fund managers of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate income will be met by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the Scheme. Hence, the scheme will allocate 80 to 100 per cent of asset in Debt Instruments including Government Securities and 0 to 20 per cent of asset in Money Market Instruments.

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Mahindra Mutual Fund Kar Bachat Yojana Floats On

Aug 22 2016 6:24PM

Mahindra Mutual Fund has launched a new fund named as Mahindra Mutual Fund Kar Bachat Yojana, an open ended Equity Linked savings Scheme with a 3 year lock-in period. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 22 August and close on 07 October 2016.

The investment objective of the scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related securities.

The scheme offers two options viz. growth and dividend option under both regular and direct plan. Dividend option will have only dividend payout facility.

The scheme would allocate 80% to 100% of assets in equity & equity related securities with high risk profile and invest upto 20% in debt & money market instruments (including CBLO and Reverse Repo) with low to medium risk profile.

The minimum application amount is Rs 500 and in multiples of Rs 500 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: Not applicable.

Exit load: Nil

Benchmark Index for the scheme is Nifty 200.

Ratish Varier is the fund manager of the scheme.

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Reliance Fixed Horizon Fund – XXXI – Series 9 Floats On

Aug 22 2016 6:24PM

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXXI – Series 9, a close ended income scheme with the duration of 1130 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 22 August and close on 24 August 2016.

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.

The scheme offers growth and dividend payout option under both regular plan and direct plan.

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile.

The 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 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 will be Amit Tripathi.

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0.05% Div announced by IDFC Mutual Fund

Aug 22 2016 3:06PM

IDFC Mutual Fund has announced 0.05 per cent dividend under dividend payout option of scheme named as “IDFC Ultra Short Term Fund” on the face value of Rs 10 per unit. The record date for the dividend was August 15. The latest NAV of the scheme is Rs 10.04. The investment objective of the open ended debt short term scheme is to offer an investment avenue for short term savings by looking to generate stable returns with low risk strategy by investing in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Anurag Mittal is the fund manager of the scheme.

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0.01% Div announced by IDFC Mutual Fund

Aug 18 2016 6:18PM

IDFC Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “IDFC Ultra Short Term Fund” on the face value of Rs 10 per unit. The record date for the dividend was August 12. The latest NAV of the scheme is Rs 10.04. The investment objective of the open ended debt short term scheme is to offer an investment avenue for short term savings by looking to generate stable returns with low risk strategy by investing in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Anurag Mittal is the fund manager of the scheme.

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0.01% Dividend declared by Tata Mutual Fund

Aug 17 2016 6:30PM

Tata Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “Tata Money Market Fund - Regular Plan” on the face value of Rs 1000 per unit. The record date for the dividend was August 10. The latest NAV of the scheme is Rs 1001.52. 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.

 

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0.02% Div announced by IDFC Mutual Fund

Aug 17 2016 6:30PM

IDFC Mutual Fund has announced 0.02 per cent dividend under dividend payout option of scheme named as “IDFC Ultra Short Term Fund” on the face value of Rs 10 per unit. The record date for the dividend was August 10. The latest NAV of the scheme is Rs 10.04. The investment objective of the open ended debt short term scheme is to offer an investment avenue for short term savings by looking to generate stable returns with low risk strategy by investing in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Anurag Mittal is the fund manager of the scheme.


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Mentha oil futures slide on subdued demand

Aug 22 2016 6:23PM

Mentha oil futures were trading lower during the evening trade in the domestic market on Monday as participants trimmed their positions in the agri-commodity amid muted physical demand from major consuming industries for mentha oil in the domestic spot market. Further, adequate stocks position on increased supplies from producing regions, too influenced prices of mentha oil at futures trade. At the MCX, mentha oil futures for August 2016 contract were trading at Rs 882.50 per kg, down by 0.41 per cent after opening at Rs 887.90, against the previous closing price of Rs 886.10. It touched the intra-day low of Rs 880.60

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Zinc futures drop on overseas cues

Aug 22 2016 6:22PM

Zinc futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators trimmed their bets amid tracking weak trend in global markets. Further, subdued demand for zinc from consuming industries at the domestic spot market, too influenced zinc prices at futures trade. At the MCX, zinc futures for August 2016 contract is trading at Rs 153.50 per kg, down by 0.26 per cent, after opening at Rs 153.40, against a previous close of Rs 153.90. It touched the intra-day low of Rs 152.50

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Overseas cues drag white metal down by 1.94%

Aug 22 2016 3:05PM

Silver futures were trading lower during the afternoon trade in the domestic market on Monday as investors ans speculators trimmed their bets on increased bets of US interest rate hike in near-term.

Further, the fall in prices for silver was in-line with a weak trend overseas as the dollar rebounded amid ongoing worries over a near-term US rate hike as Federal Reserve Bank of San Francisco President John Williams stressed that the world’s biggest economy is strong enough to warrant a rise in interest rates soon, warning against waiting too long which could spur high inflation or asset bubbles that may curb growth.

At the MCX, silver futures for September 2016 contract is trading at Rs 44,561 per kg, down by 1.94 per cent, after opening at Rs 45,258, against a previous close of Rs 45,444. It touched the intra-day low of Rs 44,417

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Copper futures in reverse gear

Aug 22 2016 3:04PM

Copper futures were trading lower during the afternoon trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid soft physical demand for copper in the domestic spot market.

Further, the fall in prices for copper was in-tune with a weak trend overseas as China’s metal exports ramped up as the US dollar strengthened ahead of the US Fed officials meeting this week. At the MCX, copper futures for August 2016 contract is trading at Rs 317.40 per kg, down by 1.47 per cent, after opening at Rs 321, against a previous close of Rs 322.15. It touched the intra-day low of Rs 317.25

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Natural gas lower ahead of storage data

Aug 18 2016 6:17PM

Natural gas futures were trading lower during noon trade in the domestic market on Thursday as investors and speculators exited positions in the energy commodity ahead of weekly US stockpile data to gauge the strength of the demand for the fuel in the world’s biggest consumer of gas.

Gas supplies in the US are likely to have risen in the range of 24 billion cubic feet and 35 billion cubic feet in the week ended August 12, the EIA may say on Thursday.

In the previous week, US storage levels witnessed a gain of 29 billion cubic feet while the year ago rise was 52 billion cubic feet and the five-year average at 57 billion cubic feet.

At the MCX, Natural gas futures for August 2016 contract were trading at Rs 175.5 per mmbtu, down by 0.34 per cent, after opening at Rs. 175.2, against the previous closing price of Rs. 176.1. It touched the intra-day low of Rs. 175.2

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Nickel roars on upbeat physical demand

Aug 18 2016 6:16PM

Nickel futures climbed almost 1 per cent during late noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel from alloy-makers in the domestic spot market.

Speculation that the US Federal Reserve may keep interest rates lower for longer also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.

At the MCX, nickel futures for August 2016 contract is trading at Rs 691.30 per kg, up by 0.86 per cent, after opening at Rs 689.1, against a previous close of Rs 685.40. It touched the intra-day high of Rs 695.5

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Crude oil futures drop on mixed US inventory data

Aug 17 2016 6:29PM

Crude oil futures were trading lower during the evening trade in the domestic market on Wednesday as participants weighed a drop in US crude stockpiles against a surprise rise in gasoline storage levels.

The industry-funded American Petroleum Institute (API) said that US crude oil stockpiles fell by 1 million barrels last week. Analysts were expecting a drawdown of 200,000 barrels in US crude stockpiles last week. However, US gasoline stockpiles climbed by 2.2 million barrels in the week ended August 12, 2016. The EIA will release separate US crude stockpile data later on Wednesday.

At the MCX, crude oil futures for August 2016 contract is trading at Rs 3,092 per barrel, down by 0.39 per cent, after opening at Rs 3,112, against a previous close of Rs 3,104. It touched the intra-day low of Rs 3,083

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Copper futures fall on diminishing demand

Aug 17 2016 6:27PM


 Copper futures were trading lower during the evening trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid soft physical demand for copper in the domestic spot market.

Further, renewed fears over a US interest rate hike in September dimmed the appetite for risky assets with worries that the world’s biggest economy may not be strong enough to handle near-term monetary tightening. A top Fed official on Tuesday raised the likelihood of a hike in borrowing costs as early as September. At the MCX, copper futures for August 2016 contract is trading at Rs 318.80 per kg, down by 0.75 per cent, after opening at Rs 320.80, against a previous close of Rs 321.20. It touched the intra-day low of Rs 317.90


 

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Mid-Session: Sensex down 57 pts, Nifty trades below 8,600; bank stocks down 1%

Aug 26 2016 1:07PM

The key domestic benchmark indices witnessed selling pressure in late morning deal on the first day of September F&O series as traders across the globe awaited a highly anticipated speech from US Fed Chair Janet Yellen at Jackson Hole today which may offer some clues on the trajectory of interest rate hikes in the world’s biggest economy.

At 12:15 PM, the Bombay Stock Exchange bellwether Sensex was at 27779, down by 56.91 points or by 0.2 per cent, and the NSE Nifty was at 8574, down by 18.2 points or by 0.21 per cent.

Investors are waiting to see whether the Fed Chair will back recent comments from FOMC officials who signaled that a rate hike could come as soon as September. Bets of the Fed raising interest rates before the end of the year have risen over the past month amid signs of improvement in the US economy.

The BSE Sensex touched an intraday high of 27935.88 and intraday low of 27767.06, while the NSE Nifty touched intraday high of 8622.95 and intraday low of 8572.90.

The top losers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1431.60,-1.77%), Adani Ports & Special Economic Zone Ltd. (Rs. 257.60,-1.74%), Wipro Ltd. (Rs. 497.20,-1.56%), State Bank of India (Rs. 247.20,-1.14%), ICICI Bank Ltd. (Rs. 244.55,-1.05%), among others.

Meanwhile, GAIL (India) Ltd. (Rs. 383.40,+2.73%), Tata Motors Ltd. (Rs. 502.90,+1.85%), Reliance Industries Ltd. (Rs. 1025.05,+1.18%), Cipla Ltd. (Rs. 569.00,+1.06%), Mahindra & Mahindra Ltd. (Rs. 1420.05,+0.40%), were among the top gainers on BSE.

On the sectoral front, capital goods and bankex stocks were among top losers on BSE, falling as much as 1.2 per cent and 0.86 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2540, shares advanced were 1016 while 1370 shares declined and 154 were unchanged.

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LME Inventory

Oct 21 2014 1:52PM

       COPPER: -100

       ZINC: -1650

       LEAD: 0

       NICKLE: +630

       ALUMINIUM: -1015

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]