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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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Dhunseri Petrochem Ltd leads losers in 'B' group

May 22 2018 5:22PM

Country Condos Ltd, GSS Infotech Ltd, NRB Industrial Bearings Ltd and XPRO India Ltd are among the other losers in the BSE's 'B' group today, 22 May 2018.
Dhunseri Petrochem Ltd tumbled 9.99% to Rs 146.9 at 14:17 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 5115 shares were traded on the counter so far as against the average daily volumes of 15789 shares in the past one month.
Country Condos Ltd crashed 9.95% to Rs 1.99. The stock was the second biggest loser in 'B' group.On the BSE, 24697 shares were traded on the counter so far as against the average daily volumes of 3371 shares in the past one month.
GSS Infotech Ltd lost 8.88% to Rs 88.25. The stock was the third biggest loser in 'B' group.On the BSE, 10.83 lakh shares were traded on the counter so far as against the average daily volumes of 3.64 lakh shares in the past one month.
NRB Industrial Bearings Ltd shed 8.81% to Rs 19.15. The stock was the fourth biggest loser in 'B' group.On the BSE, 1600 shares were traded on the counter so far as against the average daily volumes of 1870 shares in the past one month.
XPRO India Ltd corrected 8.73% to Rs 47.55. The stock was the fifth biggest loser in 'B' group.On the BSE, 10 shares were traded on the counter so far as against the average daily volumes of 1852 shares in the past one month.






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Dr Reddy's Labs gains after declaring Q4 result

May 22 2018 5:22PM

On the BSE, 78,000 shares were traded in the counter so far compared with average daily volumes of 50,000 shares in the past two weeks. The stock had hit a high of Rs 1,957.50 and a low of Rs 1,889 so far during the day. The stock hit a 52-week high of Rs 2,788 on 24 July 2017. The stock hit a 52-week low of Rs 1,888 on 21 May 2018.
Dr Reddy's Laboratories' consolidated net profit fell 3% to Rs 302.20 crore on 1% fall in revenue to Rs 3534.90 crore in Q4 March 2018 over Q4 March 2017.
Dr Reddy's Laboratories CEO and Co-chairman GV Prasad said that the company concluded a challenging year with a relatively muted fourth quarter performance. This was mainly on account of continuing headwinds in the US market and a temporary drop in the sales in Russia, attributable to a shift in the channel purchasing pattern.
Looking ahead, the company will continue to work diligently on resolving pending regulatory issues and will also focus on accelerating new products to market and improving approval process, he said.
Dr Reddy's Laboratories said that the board of directors of the company has recommended a final dividend of Rs 20 per share for the financial year 2017-18.
Dr Reddy's Laboratories is an integrated pharmaceutical company.

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Strides Shasun Ltd leads gainers in 'A' group

May 22 2018 1:43PM

Jaiprakash Associates Ltd, NCC Ltd, Bajaj Holdings & Investment Ltd and Ashok Leyland Ltd are among the other gainers in the BSE's 'A' group today, 22 May 2018.
Strides Shasun Ltd soared 12.42% to Rs 383.35 at 11:54 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 8.68 lakh shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past one month.
Jaiprakash Associates Ltd spiked 10.56% to Rs 15.7. The stock was the second biggest gainer in 'A' group. On the BSE, 67 lakh shares were traded on the counter so far as against the average daily volumes of 51.74 lakh shares in the past one month.
NCC Ltd surged 7.18% to Rs 104.55. The stock was the third biggest gainer in 'A' group. On the BSE, 3.2 lakh shares were traded on the counter so far as against the average daily volumes of 4.67 lakh shares in the past one month.
Bajaj Holdings & Investment Ltd jumped 5.38% to Rs 2873.05. The stock was the fourth biggest gainer in 'A' group. On the BSE, 2938 shares were traded on the counter so far as against the average daily volumes of 1363 shares in the past one month.
Ashok Leyland Ltd spurt 5.32% to Rs 141.45. The stock was the fifth biggest gainer in 'A' group. On the BSE, 14.77 lakh shares were traded on the counter so far as against the average daily volumes of 12.11 lakh shares in the past one month.

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Usha Martin Ltd leads gainers in 'B' group

May 22 2018 1:42PM


Panacea Biotec Ltd, Euro Ceramics Ltd, Bella Casa Fashion & Retail Ltd and 8K Miles Software Services Ltd are among the other gainers in the BSE's 'B' group today, 22 May 2018.
Usha Martin Ltd spiked 13.21% to Rs 24.85 at 12:09 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 3.2 lakh shares were traded on the counter so far as against the average daily volumes of 42713 shares in the past one month.
Panacea Biotec Ltd surged 12.71% to Rs 262. The stock was the second biggest gainer in 'B' group. On the BSE, 14148 shares were traded on the counter so far as against the average daily volumes of 15358 shares in the past one month.
Euro Ceramics Ltd soared 12.65% to Rs 3.65. The stock was the third biggest gainer in 'B' group. On the BSE, 7528 shares were traded on the counter so far as against the average daily volumes of 13354 shares in the past one month.
Bella Casa Fashion & Retail Ltd advanced 11.91% to Rs 187. The stock was the fourth biggest gainer in 'B' group. On the BSE, 51 shares were traded on the counter so far as against the average daily volumes of 779 shares in the past one month.
8K Miles Software Services Ltd added 11.81% to Rs 593.7. The stock was the fifth biggest gainer in 'B' group. On the BSE, 75910 shares were traded on the counter so far as against the average daily volumes of 40960 shares in the past one month.

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Power Grid Corporation of India Ltd slips for fifth straight session

May 22 2018 1:42PM

Power Grid Corporation of India Ltd is down for a fifth straight session today. The stock is quoting at 212.25, down 0.19% on the day as on 13:29 IST on the NSE. The benchmark NIFTY is up around 0.2% on the day, quoting at 10538.2. The Sensex is at 34647.02, up 0.09%.Power Grid Corporation of India Ltd has added around 2.64% in last one month.Meanwhile, Nifty Energy index of which Power Grid Corporation of India Ltd is a constituent, has eased around 0.55% in last one month and is currently quoting at 13514.05, down 0.23% on the day. The volume in the stock stood at 30.73 lakh shares today, compared to the daily average of 76.95 lakh shares in last one month.
The benchmark May futures contract for the stock is quoting at Rs 212.45, up 0.26% on the day. Power Grid Corporation of India Ltd jumped 5.39% in last one year as compared to a 12.27% rally in NIFTY and a 16.65% spurt in the Nifty Energy index.
The PE of the stock is 13.67 based on TTM earnings ending December 17.

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Volumes soar at Kitex Garments Ltd counter

May 21 2018 8:22PM

Century Textiles & Industries Ltd, Sheela Foam Ltd, Strides Shasun Ltd, Johnson Controls-Hitachi Air Condition. India Ltd are among the other stocks to see a surge in volumes on NSE today, 21 May 2018.
Kitex Garments Ltd recorded volume of 5.95 lakh shares by 14:24 IST on NSE, a 17.19 times surge over two-week average daily volume of 34588 shares. The stock lost 18.57% to Rs.184.00. Volumes stood at 65596 shares in the last session.
Century Textiles & Industries Ltd recorded volume of 52.25 lakh shares by 14:24 IST on NSE, a 10.7 times surge over two-week average daily volume of 4.88 lakh shares. The stock lost 6.77% to Rs.994.00. Volumes stood at 5.66 lakh shares in the last session.
Sheela Foam Ltd witnessed volume of 2.56 lakh shares by 14:24 IST on NSE, a 10.53 times surge over two-week average daily volume of 24294 shares. The stock increased 9.66% to Rs.1,425.00. Volumes stood at 31629 shares in the last session.
Strides Shasun Ltd registered volume of 148.24 lakh shares by 14:24 IST on NSE, a 7.55 fold spurt over two-week average daily volume of 19.63 lakh shares. The stock slipped 11.47% to Rs.342.65. Volumes stood at 110.21 lakh shares in the last session.
Johnson Controls-Hitachi Air Condition. India Ltd clocked volume of 32800 shares by 14:24 IST on NSE, a 6.32 times surge over two-week average daily volume of 5190 shares. The stock lost 2.73% to Rs.2,515.00. Volumes stood at 3724 shares in the last session.

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Jaiprakash Associates Ltd leads losers in 'A' group

May 21 2018 8:21PM

Reliance Communications Ltd, Strides Shasun Ltd, Ashok Leyland Ltd and Indiabulls Real Estate Ltd are among the other losers in the BSE's 'A' group today, 21 May 2018.
Jaiprakash Associates Ltd lost 18.86% to Rs 14.2 at 14:54 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 196.22 lakh shares were traded on the counter so far as against the average daily volumes of 43.48 lakh shares in the past one month.
Reliance Communications Ltd tumbled 13.36% to Rs 13.3. The stock was the second biggest loser in 'A' group.On the BSE, 301.88 lakh shares were traded on the counter so far as against the average daily volumes of 152 lakh shares in the past one month.
Strides Shasun Ltd crashed 11.57% to Rs 342.3. The stock was the third biggest loser in 'A' group.On the BSE, 11.91 lakh shares were traded on the counter so far as against the average daily volumes of 1.03 lakh shares in the past one month.
Ashok Leyland Ltd pared 8.69% to Rs 135.5. The stock was the fourth biggest loser in 'A' group.On the BSE, 76.42 lakh shares were traded on the counter so far as against the average daily volumes of 8.5 lakh shares in the past one month.
Indiabulls Real Estate Ltd slipped 8.60% to Rs 188. The stock was the fifth biggest loser in 'A' group.On the BSE, 10.03 lakh shares were traded on the counter so far as against the average daily volumes of 13.48 lakh shares in the past one month.

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Kitex Garments tumbles after dismal Q4 outcome

May 21 2018 8:20PM

On the BSE, 80,000 shares were traded in the counter so far, compared with average daily volumes of 2,436 shares in the past two weeks. The stock had hit a high of Rs 200.05 and low of Rs 182 so far during the day. The stock had hit a 52-week high of Rs 345.95 on 7 November 2017. The stock had hit a 52-week low of Rs 198 on 18 October 2017.
The small-cap company has equity capital of Rs 6.65 crore. Face value per share is Re 1.
The board of directors of Kitex Garments recommended a final dividend of Re 0.75 per share and approved a further investment of $0.75 million in Kitex USA LLC being 50% of equity during the year 2018-19 .
Kitex Garments is a producer of children's apparel. It caters to conglomerates in USA and Europe.

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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 227 Floats On

May 22 2018 1:45PM

Kotak Mutual Fund has launched a new fund named as Kotak FMP Series 227, a close ended debt scheme with the duration of 95 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 21 May to 22 May 2018.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly 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 upto 100% of assets in debt and money market instruments including government securities 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 Ultra Short Term Debt Index.
Deepak Agarwal is the fund manager of the scheme.

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Reliance Fixed Horizon Fund – XXXVII – Series 8 Floats On

May 22 2018 1:44PM

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXXVII – Series 8, a close-ended income scheme with the duration of 90 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 is open for subscription from 21 May 2018 and closes subscription 23 May 2018.
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 up to 100% of its assets in money market instruments, government securities / State Development Loans (SDLs) & 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 Liquid Fund Index.
The fund manager of the scheme will be Amit Tripathi.

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HDFC FMP 1134D May 2018 (1) Floats On

May 21 2018 8:24PM

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1134D May 2018 (1), a plan under HDFC Fixed Maturity Plans – Series 40 (a close-ended income scheme). The tenure of the scheme is 1134 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 21 May 2018 to 23 May 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 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 Anupam Joshi & Rakesh Vyas (Dedicated fund manager for overseas investments).

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Mutual funds buying momentum slows

May 21 2018 8:23PM


Mutual funds bought stocks worth a net Rs 55.03 crore on 18 May 2018, compared with net inflow of Rs 310.15 crore on 17 May 2018.
The net inflow of Rs 55.03 crore on 18 May 2018 was a result of gross purchases of Rs 69.52 crore and gross sales of Rs 14.49 crore.
Mutual funds purchased shares worth a net Rs 7456.84 crore in May 2018 so far (till 18 May 2018). They had purchased shares worth a net Rs 11293.46 crore in April 2018.

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Franklin India Fixed Maturity Plan – Series 3 Plan E (1104 Days) Floats On

May 17 2018 12:46PM

Franklin Templeton Mutual Fund has launched a new fund named as Franklin India Fixed Maturity Plans – Series 3 – Plan E (1104 days), a closed ended debt fund. The tenure of the scheme is 1104 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 from 17 May to 22 May 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.
The scheme offers growth plan, dividend plan (with payout facility), growth plan-direct and dividend plan-direct (with payout facility). Further, Plan (s) with a maturity of over 365 days also offers quarterly dividend (payout facility only) and quarterly dividend-direct (payout option only).
The scheme shall invest 80%-100% of assets in debt instruments with low to 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 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 & exit load are not applicable.
Benchmark Index for the scheme will be CRISIL Composite Bond Fund Index.
Umesh Sharma and Sachin Padwal Desai are the fund managers for the scheme

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Reliance Mutual Fund Announces change in fund managers under its schemes

May 7 2018 11:37PM


Reliance Mutual Fund has announced change in fund managers under the following schemes, with effect from 07 May 2018.
Accordingly, Reliance Balanced Advantage Fund will be jointly managed by Manish Gunwani & Ashutosh Bhargava, Reliance Value Fund will be managed by Meenakshi Dawar, Reliance Focused Equity Fund will be managed by Vinay Sharma, Reliance Capital Builder Fund will be managed by Sanjay Joshi abd Reliance Large Cap Fund will be managed by Sailesh Raj Bhan.
Further, it is decided to re-designate Dhrumil Shah as Co-Fund Manager of Reliance Small Cap Fund (previously Assistant Fund Manager).

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ICICI Prudential S&P BSE 500 ETF Floats On

May 7 2018 11:36PM

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential S&P BSE 500 ETF, an open ended ETF replicating / tracking S&P BSE 500 Index. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 03 May to 07 May 2018.
The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index subject to tracking errors.
The scheme will invest 95% - 100% of assets in Securities of companies constituting the underlying index (S&P BSE 500 Index) with medium to high risk profile and invest upto 5% of assets in Units of Liquid schemes, Money Market Instruments (with maturity not exceeding 91 days), including CBLO, cash & cash equivalents 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 amount of Rs 10 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 S&P BSE 500 Index.
The fund manager of the scheme is Kayzad Eghlim.

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HDFC Fixed Maturity Plan 1181D April 2018 (1) Floats On

Apr 25 2018 12:56PM

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1181D April 2018 (1), a plan under HDFC Fixed Maturity Plans – Series 40 (a close-ended income scheme). The tenure of the scheme is 1181 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 25 April 2018 to 26 April 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 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 Anupam Joshi & Rakesh Vyas (Dedicated fund manager for overseas investments).

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Government To Come Out With New Export Policy for Agro Products

May 22 2018 1:46PM

The Union Commerce Secretary Rita Teaotia informed that the government is coming out with an export policy for agro and other such products and asked all the state governments to send their inputs to the Centre as the draft export policy has been put in public domain already. The Commerce Secretary also asked the APEDA to explore the higher possibilities as to how the exports of agri products could be multiplied with sea route. This channel would be cheaper and reduce the exporting cost for the exporters, she noted.
The Commerce Secretary elaborated that despite India growing multiple varieties of mangoes yet their exports are confined to only two to three varieties, therefore, APEDA should take initiatives to promote multiple varieties of mangoes so that exports could be accelerated. India is the fruit basket of the world and provides a large number of varieties of quality and tasty tropical fruits of large range.
She informed that India is the largest producer of the Mangoes in the world which is treated as king of fruits which has made a place of pride in the fruit basket of the country with a production of around 41% of total world production. India grows nearly 1000 varieties of Mangoes across the country and out of these 11 commercial varieties are grown in more than 10 States. With this strength, India exports Mangoes to more than 50 countries and has reached to an export of 52,761 MT MT in 2016-17.

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Coriander Eyes Export Demand Following Weak Rupee

May 21 2018 8:29PM

Ready market demand for Coriander is pretty weak. However, export demand is seen holding up after recent correction in prices and the weakness in Indian Rupee. Steady arrivals are likely to weigh on the sentiments. The commodity is currently trading at Rs 5220 per quintal in Kota, up 0.20% on the day. Rupee has dropped near 17 month low today against the US dollar.


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DRC mining sector to sustain growth despite unrest

May 21 2018 8:28PM

The ongoing political crisis affecting large parts of the DRC will continue to weigh on household consumption and foreign aid, slowing growth in the non-mining economy. While an acceleration in mining sector production will boost headline growth, even despite the challenging political climate, growth will remain well below potential.
While headline growth in Democratic Republic of Congo (DRC) will accelerate in the coming quarters, gains will not be equally share across the economy. Household consumption will remain under severe pressure due to elevated political risk. Increasing rural violence is driving the dis placement of large numbers of civilians, while President Joseph Kabila's unwillingness to step down and organise national elections will likely trigger foreign donors to withhold aid, limiting government capital projects.
The large mining sector will act as a bright spot for DRC, especially copper and cobalt production, with several large projects coming online in 2018 and 2019. Indeed, this underpins our forecast for real GDP growth to come in at 2.8% and 5% in 2018 and 2019 from an estimated 2.9% in 2017.

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Mexico Grants Clearance To First Majestic Silver For Acquisition of Primero Mining

May 17 2018 12:45PM


Mexican authorities have granted Canada's First Majestic Silver their antitrust clearance to go ahead with its planned acquisition of fellow miner Primero Mining, in a cash and stock deal valued at $320 million, including debt.
With the transaction, first announced in January, First Majestic gains access to Primero's flagship asset, the San Dimas silver-gold mine, located in what the Mexico-focused company defines as it “backyard”, in the state of Durango.
The all-share deal takes First Majestic's annual output to 30 million equivalent oz. silver a year, up from the 16.2-million equivalent oz. silver it produced in 2016. The stream lowers the amount of payable metal compared to the current stream, which First Majestic has said would allow for greater free cash flow generation at San Dimas. In addition, basing the new stream on gold-equivalent production is likely to improve First Majestic's exposure to silver.

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China Housing Prices Stable in April

May 16 2018 2:43PM

China housing prices stayed largely stable in major Chinese cities in April as the government continued tough purchase restrictions, official data showed Wednesday. On a yearly basis, new residential housing prices in China's first-tier cities declined 0.4 percentage points more in April compared with a 0.6 percent drop in March, the National Bureau of Statistics (NBS) said.
Meanwhile, new home price growth in second-tier cities were flat with the March level, and those in third-tier cities saw year-on-year growth 0.3 percentage points lower than a month ago. New residential housing prices in the 15 major cities, considered the "hottest markets," remained stable in April, with seven cities, including Shanghai, reporting monthly declines of 0.1 percent to 0.2 percent, while the eight other cities posted slight growth between 0.1 percent and 0.5 percent, NBS data showed.
During previous years, rocketing housing prices, especially in major cities, had fueled concerns about asset bubbles. To curb speculation, local governments have passed or expanded their restrictions on house purchases and increased the minimum downpayment required for a mortgage.
Property development investment expanded 10.3 percent year on year for January-April, slightly down from 10.4 percent during the first quarter, said the NBS. Housing sales measured by floor area grew 1.3 percent during the four-month period, down from 3.6 percent for January-March.

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German Consumer Prices Climb 1.6% On Year In April

May 16 2018 2:42PM

German consumer prices climbed 1.6 percent year-on-year in April, as previously estimated, final data from Destatis showed Wednesday. On a month-on-month basis, the consumer price index remained unchanged in April, after rising 0.4 percent in March. Energy prices gained 1.3 percent on year in April. Excluding energy, inflation was 1.6 percent. The harmonized index of consumer prices, the HICP, increased 1.4 percent annually, as estimated, slightly slower than the 1.5 percent rise in March. On a monthly basis, the index fell 0.1 percent as estimated.

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US Dollar Near Five Month Peak

May 16 2018 2:41PM

US Dollar index soared above 93 levels to top its highest mark in nearly five months amid supportive US economic data and rising bond yields. The US benchmark 10-year bond yield broke through the key 3% level to hit its highest mark in nearly seven years. This supported the US currency amid mostly positive economic releases. US NAHB/Wells Fargo Housing Market Index rose to 70 in May from a downwardly revised 68 in April, according to a report released by the National Association of Home Builders on Tuesday. Retail sales in the US increased though the pace of expansion was weak. The Commerce Department said retail sales edged up by 0.3% in April after climbing by an upwardly revised 0.8% in March. However, in another supportive data, the New York Fed said its general business conditions index spiked to 20.1 in May from 15.8 in April, with a positive reading indicating growth in regional manufacturing activity.

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US Dollar Near Five Month Peak

May 16 2018 2:41PM

US Dollar index soared above 93 levels to top its highest mark in nearly five months amid supportive US economic data and rising bond yields. The US benchmark 10-year bond yield broke through the key 3% level to hit its highest mark in nearly seven years. This supported the US currency amid mostly positive economic releases. US NAHB/Wells Fargo Housing Market Index rose to 70 in May from a downwardly revised 68 in April, according to a report released by the National Association of Home Builders on Tuesday. Retail sales in the US increased though the pace of expansion was weak. The Commerce Department said retail sales edged up by 0.3% in April after climbing by an upwardly revised 0.8% in March. However, in another supportive data, the New York Fed said its general business conditions index spiked to 20.1 in May from 15.8 in April, with a positive reading indicating growth in regional manufacturing activity.

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Post-Session:Sensex, Nifty snap 5-day fall

May 22 2018 5:21PM

Local stocks logged small gains in a volatile session of trade, reversing a five-day losing trend. The barometer index, the S&P BSE Sensex, rose 35.11 points or 0.10% to settle at 34,651.24. The Nifty 50 index rose 20 points or 0.19% to settle at 10,536.70. Global cues were mixed.
Realty stocks gained. Auto stocks logged strong gains on reports China will steeply cut import tariffs for automobiles and car parts. Shares of SBI and Dr Reddy's Laboratories surged after declaring Q4 result.
After opening lower, the market bounced and hit fresh intraday high in morning trade. Indices were unable to sustain at higher levels and re-entered negative terrain in mid-morning trade. Indices turned range bound near flat line in early afternoon trade. Indices firmed up in afternoon trade and managed to settle with small gains.
The barometer index, the S&P BSE Sensex, rose 35.11 points or 0.10% to settle at 34,651.24. The index hit high of 34,754.60 and low of 34,550.22 during the day.
The Nifty 50 index rose 20 points or 0.19% to settle at 10,536.70. The index hit high of 10,558.60 and low of 10,490.55 during the day.
Among secondary barometers, the BSE Mid-Cap index and the BSE Small-Cap index rose by 0.65% each. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1450 shares rose and 1177 shares fell. A total of 142 shares were unchanged.
Coal India (up 3.23%), Sun Pharmaceutical Industries (up 2.07%) and Infosys (up 0.93%) were the major Sensex gainers.
TCS (down 1.4%), Asian Paints (down 1.27%), Axis Bank (down 1.27%), IndusInd Bank (down 1.19%) and ITC (down 1.17%) were the major Sensex losers.
Dr Reddy's Laboratories rose 6.3%. The company's consolidated net profit fell 3% to Rs 302.20 crore on 1% fall in revenue to Rs 3534.90 crore in Q4 March 2018 over Q4 March 2017. The result was announced during trading hours today, 22 May 2018.
Dr Reddy's Laboratories CEO and Co-chairman GV Prasad said that the company concluded a challenging year with a relatively muted fourth quarter performance. This was mainly on account of continuing headwinds in the US market and a temporary drop in the sales in Russia, attributable to a shift in the channel purchasing pattern.
Looking ahead, the company will continue to work diligently on resolving pending regulatory issues and will also focus on accelerating new products to market and improving approval process, he said.
Dr Reddy's Laboratories said that the board of directors of the company has recommended a final dividend of Rs 20 per share for the financial year 2017-18.
State Bank of India (SBI) gained 3.69%. The bank reported net loss of Rs 7718.17 crore in Q4 March 2018 compared with net profit of Rs 2814.82 crore in Q4 March 2017. Total income rose 18.57% to Rs 68436.06 crore in Q4 March 2018 over Q4 March 2017. The result was announced during trading hours today, 22 May 2018.
Auto stocks logged strong gains on reports China will steeply cut import tariffs for automobiles and car parts. Ashok Leyland (up 5.14%), Maruti Suzuki India (up 1.56%), Tata Motors (up 3.78%), Mahindra & Mahindra (M&M) (up 0.4%), Eicher Motors (up 1.61%), Escorts (up 0.91%), Bajaj Auto (up 3.86%) and Hero MotoCorp (up 0.41%) gained. TVS Motor Company (down 0.11%) fell.
China will reportedly cut the import duty on passenger cars to 15% in a move that gives a boost to makers of luxury autos. The State Council, China's cabinet, has decided to reduce the levy from the current 25% that has been in place for more than a decade.
Larsen & Toubro gained 0.45% after the company said its construction arm has won orders valued Rs 4033 crore. The announcement was made during market hours today, 22 May 2018.
L&T said that the Buildings & Factories business of L&T Construction has bagged orders worth Rs 4033 crore. Buildings & Factories business has won order from a government client for the design & construction of 1,125 units of residential towers of G+3 floors under PMAY Scheme at Visakhapatnam, Prakasam, Guntur, and Krishna Districts in Andhra Pradesh, to be completed within stringent timelines.
Another order has been secured from a leading cement manufacturer for the construction of cement plants in Odisha and Andhra Pradesh on the design and build model. The business has bagged another turnkey order from a government client in Patna (Bihar) to establish a cancer institute along with the supply, installation and commissioning of medical equipment.
HPCL shed 0.35% ahead of its Q4 March 2018 result today, 22 May 2018.
Realty stocks gained. Indiabulls Real Estate (up 3.48%), Housing Development and Infrastructure (up 4.18%), D B Realty (up 1.67%), Peninsula Land (up 2.51%), Unitech (up 2.94%), Godrej Properties (up 2.3%) gained. Prestige Estates Projects (down 1.11%), Sobha (down 2.94%) and Oberoi Realty (down 1.17%) fell.
DLF rose 2.5% after consolidated net profit rose 70.52% to Rs 243.26 crore on 21.63% fall in total income to Rs 2041.92 crore in Q4 March 2018 over Q4 March 2017. The announcement was made after market hours yesterday, 21 May 2018.
Just Dial gained 5.66% after net profit rose 53.69% to Rs 38.96 crore on 11.71% rise in total income to Rs 217.09 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 21 May 2018.
Action Construction Equipment gained 4.43% after net profit jumped 921.9% to Rs 21.46 crore on 59.24% rise in total income to Rs 369.91 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 21 May 2018.
On the political front, Janata Dal (Secular), or JD(S), leader H D Kumaraswamy will take oath as Chief Minister of Karnataka on Wednesday, 23 May 2018 at 16:30 IST on the steps of the Vidhana Soudha, the state secretariat. Governor Vajubhai Vala will administer the oath of office and secrecy to Kumaraswamy.
The 12 May 2018 Karnataka assembly polls threw up a hung verdict with BJP emerging as the single largest party with 104 seats. The Congress was next with 78 and the JD(S) followed with 37. The BSP has one MLA and two seats went to Independents.
Overseas, shares in Europe and Asia were mixed. The US market jumped overnight as investors applauded easing trade animosities between the US and China.
US Treasury Secretary Steven Mnuchin reportedly said that bilateral trade talks with China had made very meaningful progress and that it was now up to both parties to implement what had been discussed. Mnuchin said over the weekend that the Trump administration would delay implementation of tariffs on Chinese goods and put the trade war on hold while working out details of a deal between the countries.
A focus for global markets this week is Wednesday's release of minutes from the Federal Reserve's latest monetary policy meeting. Investors will be watching the minutes for clues about the pace of the current tightening cycle.

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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]