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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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Go Fashion, NTPC, Coal India have been watched in today's trading.

Nov 30 2021 4:00PM

Intraday trading Shares of women's bottom-wear brand Go Colors operator Go Fashion will debut on the boursestoday, 30 November 2021. The issue price is Rs 690 per share.NTPC Renewable Energy, a wholly owned subsidiary company of NTPC, has signed PPA for 325 MWsolar projects.The board of directors of Coal India approved payment of interim dividend for the financial year 2021-22 of Rs 9 per share.Union Bank of India informed that the RBI has imposed a penalty of Rs 1 crore on the bank due tonon-compliance with RBI's directions on fraud classification and sale of stressed assets.Ratnamani Metals & Tubes has received new domestic orders aggregating to Rs.297.87 crore from theOil & Gas Sector, to be executed between February 2022 to January 2023.Mastek (UK) Limited (a wholly owned subsidiary of the company) has been awarded a healthcarecontract, which positions it at the heart of a critical program focused on the wellbeing of UK citizens.The contract with NHS Digital is valued at £45m over the four-year period from October 2021 toOctober 2025.Tatva Chintan Pharma Chem informed that as a part of future need, the company has acquired anindustrial land admeasuring 50,399.16 Sq. mtr at Dahej-III GIDC Estate, Bharuch, Gujarat, India.

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RIL, SBI, Hero MotoCorp in focus

Nov 29 2021 4:23PM

Reliance Industries (RIL) said that Jio has announced its new unlimited plans. The new unlimitedplans will go-live on 1st December 2021 and can be opted from all existing touchpoints and channels.State Bank of India (SBI) said that Reserve Bank of India has imposed a penalty of Rs 1 crore on thebank for contravention of provision.Hero MotoCorp said that the board of directors has appointed Rajnish Kumar as an Additional andIndependent Director and Vasudha Dinodia as an Additional and Non-Executive Director, effectiveNovember 25, 2021.Bhageria Industries said it has completed acquisition of 51% equity shares of Bhageria and JajodiaPharmaceuticals. BJPPL has become a subsidiary of the company.Salasar Techno Engineering has secured purchase order worth Rs 170 crore from RITES.

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Indian Stocks like Tarsons Products, Nazara Technologies and Engineers India have been highlighted

Nov 26 2021 1:41PM

Intraday Trading Shares of Tarsons Products will debut on the bourses today, 26 November 2021. The issue price is Rs662 per share.Nazara Technologies said that the company has acquired 7,670 equity shares of Rs. 10/- each ofOpenPlay Technologies and has paid the consideration by way of issue and allotment of 6,48,125equity shares of Rs 4/- each of the company to Unnati Management Consultants LLP. With this, theacquisition of equity shares of OpenPlay as per the Acquisition Agreement is completed and thecompany now holds 100% of the issued and paid up share capital of OpenPlayEngineers India and CHEMPOLIS OY, Finland have signed a strategic alliance for conversion of Biomassto Green fuels.The Indian Navy has commissioned the Fourth Scorpene Class Submarine i.e (INS Vela) built byMazagon Dock Shipbuilders on 25 November 2021.Greenlam Industries has scheduled a board meeting on 13 December 2021 to consider sub-division ofequity shares.Nagarjuna Fertilizers and Chemicals has taken a temporary shutdown of Urea Production in Plant - I,on November 24, 2021, to take up temporary repairs

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RIL, Pidilite Industries and Capri Global are focused in todays market

Nov 25 2021 2:16PM

Intraday Stocks like The board of Reliance Industries (RIL) has decided to implement a Scheme of Arrangement (Scheme)to transfer Gasification Undertaking into a Wholly-Owned Subsidiary (WOS). The Board hasaccordingly approved a Scheme to transfer the Gasification Undertaking as a going concern on slumpsale basis for a lump sum consideration equal to the carrying value as on the Appointed Date.Pidilite Industries said that Madhumala Ventures (Madhumala), a wholly owned subsidiary of thecompany, has agreed to make an investment of Rs. 1.56 crores in Constrobot Robotics (the InvesteeCompany) which is engaged in the business of research, development, manufacturing and trading ofrobotic equipment and related software to be used in construction activities.Credit rating agency ICRA has reaffirmed the long-term rating at [ICRA]AA+ and the short-termrating at [ICRA]A1+ in respect of the bank fund based and non-fund based limits of Tube Investmentsof India. The long-term rating has been removed from watch with developing implications and 'Stable'outlook has been assigned.63 Moons Technologies informed that Wholly Owned Subsidiary Tickerplant (presently not a materialsubsidiary) is proposing to raise funds by way of private placement offer of its equity shares to meetits business requirements.Capri Global Capital (CGCL) has entered into a Co-Lending agreement with Union Bank of India (UBI)to offer MSMEs loans. Through this collaboration, CGCL and UBI aim to disburse MSME loans across100+ touch points pan India. The loan disbursement under this arrangement would commence fromDecember 2021.

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Coal India, TVS Srichakra and KDDL are focused in todays market

Nov 24 2021 2:56PM

Intraday Trading stocks like Coal India has informed BSE that a meeting of board of directors of the company will be held onNovember 29, 2021, inter-alia, to consider and approve payment of interim dividend for 2021-22, ifany.Moody's Investors Service has revised Bharti Airtel's (Bharti) and its subsidiary Bharti Airtel Int'l(Netherlands) B.V.'s rating outlook to positive from stable.TVS Srichakra said that TVS Eurogrip has joined hands with four-time IPL champions Chennai SuperKings as the Principal Sponsor for the next three years (2022-2024).KDDL has acquired 2,06,930 (20.69%) equity shares of Rs. 10 each of Kamla Tesio Dials (KTDL). Postthe acquisition, shareholding of the company has increased from 49.10 % to 69.79 % and by virtue ofthis acquisition, KTDL has become subsidiary of the company.Balaji Amines said that production in the DMF plant has started after carrying out all the rectifications.The DMF plant was shutdown on 6 October because of a minor incident.

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Latent View Analytics, Union Bank of India, IEX in focus

Nov 23 2021 2:06PM

Intraday Shares of data analytics company Latent View Analytics will be listed at the stock exchanges today,November 23, 2021. The issue price was Rs 197 per share.Union Bank of India has allotted Unsecured, Subordinated, Non -Convertible, Taxable, Perpetual, FullyPaid-Up Basel III Compliant Additional Tier- 1 Bonds in the nature of Debentures eligible for inclusionin Tier 1 Capital (Bonds) Series XXXII aggregating to Rs. 2000 crore on November 22, 2021.Indian Energy Exchange (IEX) announced the resumption in the trading of Renewable EnergyCertificates (REC) with effect from 24 November 2021, after a gap of almost 16 months. The last RECtrade session took place in June 2020.Triveni Engineering & Industries announced signing of a 10-year business agreement with GEAETechnology USA to locally manufacture the LM2500 gas turbine base and enclosure.The Indian Navy has commissioned the first ship of project 15B Class Destroyer i.e.(Vishakhapatnam) built by Mazagon Dock Shipbuilders.Quess Corp has increased its stake in Taskmo from 36.58% to 49% by investing approx. Rs. 4 crore.Zen Technologies has signed an export contract worth Rs 35 crore with one of its important MiddleEast customers.

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RIL, Wipro, IRCTC, Havells India to be watched

Nov 22 2021 8:08PM


RIL and Saudi Aramco on Friday (19 November 2021) decided to re-evaluate the proposedInvestment by Aramco in the oil-to-chemical (O2C) business in light of the RIL's new energy forays.Hence, the current application with National Company Law Tribunal (NCLT) for segregating the O2Cbusiness from RIL is being withdrawn, RIL said in a statement.Wipro will replace Bajaj Auto in the 30-share benchmark S&P BSE Sensex effective Monday, 20December 2021. Further, Biocon, Power Finance Corp, Torrent Pharmaceuticals and REC will beexcluded from the S&P BSE 100 index and the S&P BSE SENSEX Next 50 index. They will be replacedby Adani Transmission, Adani Total Gas, SRF and Max Financial Services. In the S&P BSE Bankex,Bank of Baroda will replace City Union Bank.ONGC denied media reports suggesting that it was offering its prominent fields through Expression ofInterest (EoI). In its clarification to the bourses on 18 November, ONGC said: "This release is in thecontext of the news carried in a certain segment of the media about ONGC offering its prominentfields through Expression of Interest (EoI). The ‘news' about ONGC is incorrect. This release aims toclarify the position in this regard, in the interest of corporate governance of a listed company."Indian Railway Catering and Tourism Corporation (IRCTC) said that the Ministry of Railways hasconveyed the decision to resume the services of cooked food in trains.Havells India has started commercial production of washing machines at its Ghiloth plant from 19thNovember 2021.Indiabulls Housing Finance on Thursday announced that Brickwork Ratings India has revised ratingoutlook to ‘stable' from ‘negative'.Sundaram Asset Management Company said that it has received the regulatory approval from SEBI toacquire the asset management business of Principal Asset Management (Principal India).Laurus Labs said that it has signed an investment agreement with Immunoadoptive Cell Therapy toacquire 26.62% stake for a cash consideration of approximately Rs 46 crore.Route Mobile announced that it has raised Rs 867.49 crore through qualified institutional placement(QIP). The QIP opened on 8 November 2021 and closed on 12 November 2021. The floor price of theQIP issue was Rs 1,949.24 per equity share.BASF on Friday announced that its holding company, BASF SE, Germany has signed an agreementwith KaMin LLC / CADAM S.A for sale of its Kaolin minerals business globally.Cadila Healthcare has received the final approval from the US-based drug regulatory body, UnitedStates Drug & Food Administration (USFDA) to market Decitabine Injection in the strength of 50 mg/vial Single-Dose Vial (USRLD: Dacogen).Natco Pharma on Thursday announced that it has launched a tablet for the treatment of advancedcolorectal and gastric cancer in India.Kitex Garments incorporated a new subsidiary, Kitex Apparel Parks (KAPL), on Thursday, 18November 2021, by investing a cash consideration of Rs 70 crore.Sastasundar Ventures said that the Flipkart Group has signed definitive agreements to acquire amajority share in Sastasundar Marketplace, which owns and operates SastaSundar.com, an onlinepharmacy and digital healthcare platform.The board of JBM Auto is scheduled on 8 December 2021 to consider the proposal of sub-division ofthe company's equity shares having face value of Rs 5 each.

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Vedanta ,One 97 Communications and Sapphire Foods will be highlighted in today's intraday trade.

Nov 18 2021 10:18AM

Shares of One 97 Communications will debut on the bourses today. The issue price has been fixed atRs 2,150 per share.Shares of Sapphire Foods India will debut on the bourses today. The issue price has been fixed at Rs1,180 per share.Vedanta said that its board of directors has decided that, considering the scale, nature, and potentialopportunities for various business verticals, the company should undertake a comprehensive review ofthe corporate structure and evaluate a full range of options and alternatives (including demerger(s),spin-off(s), strategic partnerships etc.) for unlocking value and simplification of corporate structure.Cadila Healthcare received final nod from US FDA and 180-day exclusivity for Nelarabine injectionused to treat certain types of Leukemia and Lymphoma.Bhel said that a cooperation agreement was signed between the company and Zorya Mashproekt,Ukraine at New Delhi on 16 November 2021.Jindal Drilling and Industries said the company has acquired an offshore jack-up rig 'Jindal Supreme'from Venus Drilling Pte. Ltd. for USD 16.75 million.The Phoenix Mills informed that CPP Investments has, on November 16, 2021, completed its firsttranche of investment in Plutocrat Commercial Real Estate Private Limited (PCREPL) on privateplacement basis and by way of secondary acquisition of equity shares held by the company in PCREPLaggregating to Rs.787 crore.Seacoast Shipping Services informed that the meeting of the board of directors of the company isscheduled on 24 November 2021, to consider and approve the sub division of face value of equityshares of the company.

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Amara Raja Batteries hits 52-week low; declines 10% in eight days

Nov 22 2021 8:11PM

Shares of the battery maker have lost 10.79% in eight trading sessions from its previous closing highof Rs 707.45 posted on 9 November 2021. The counter hit a 52-week low of Rs 625.40 in intradaytoday. The stock has fallen 38.4% from its 52-week high of Rs 1,025 recorded on 15 January 2021.In last one month, shares of Amara Raja Batteries have declined 9.4% as compared to a 4.8% fall inNifty 50 index.On the technical front, the stock's RSI (relative strength index) stood at 21.972. The RSI oscillatesbetween zero and 100. Traditionally the RSI is considered overbought when above 70 and oversoldwhen below 30.The stock is trading below its 50 and 100 days simple moving average placed at 720.90 and 720.90respectively. These levels will act as crucial resistance zones in near term.Amara Raja Batteries is an Energy and Mobility enterprise and one of the largest manufacturers ofenergy storage products for both industrial and automotive applications in the Indian battery industry.On a consolidated basis, the company posted a 28.3% decline in net profit to Rs 144.32 crore on a17% rise in net sales to Rs 2,264.15 crore in Q2 FY22 over Q2 FY21.

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Max India gains after subsidiary sells over 200 units in Noida

Nov 17 2021 7:27PM

The Residences for Seniors project was launched in early 2020 in Noida as an integral part of Antara'sshift towards creating an ecosystem to address the lifecare, lifestyle and well-being needs of theseniors. The project is spread over 16,500 sq. meters, Phase-1 of Antara's Senior Living Communityin Noida houses 340 apartments curated across three towers that cater to a wide spectrum of lifestyleneeds.The residents can choose from two or three-bedroom units ranging from 137 sq. metres to 280 sq.metres constructed in three different layouts. These apartments are available on a 90-year directlease under the NOIDA authority and have all-inclusive pricing between Rs 1.15 crore and Rs 2.35crore.On a consolidated basis, Max India's net loss stood at Rs 0.56 crore in Q2 FY22 as compared to a netloss of Rs 17.30 crore in Q2 FY21. Net sales stood at Rs 82.83 crore in Q2 September 2021,registering a 187.7% jump from Rs 28.79 crore in Q2 September 2020.Max India is engaged in the business of investments and providing consultancy services to groupcompanies. The company's segments are healthcare business, business investments, healthinsurance, senior living and others.

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HCL Technologies to enhance Euroclear's digital landscape

Nov 16 2021 7:25PM

HCL Technologies (HCL) will work with Euroclear, the world's largest provider of domestic and crossborder settlement and related services for bond, equity and fund transactions to explore new businessmodels and market opportunities, create value through innovation and data monetization. HCL willuse its Fenix 2.0 execution framework to modernize Euroclear's digital channel landscape. This willhelp Euroclear accelerate innovation in its digital channels by harnessing automation, unified endcustomer experience and DevOps delivery models.HCL will establish a co-innovation lab in Brussels, (Belgium) where it will work with Euroclear onsustainable innovation to answer market problems business value. The lab will create anentrepreneurial environment to explore emerging technologies and new digital initiatives that driveand trends, and apply them to create new products and services.HCL Technologies reported 1.7% rise in consolidated net profit to Rs 3,259 crore on a 2.9% increasein revenue from operations to Rs 20,655 crore in Q2 FY22 over Q1 FY22.HCL Technologies is a leading global IT services company and ranked among the top four Indian ITservices companies in terms of revenues. The company has focused on ‘transformational outsourcing',and offers integrated portfolio of services, including software-led IT solutions, remote infrastructuremanagement, engineering and R&D services, and BPO services. It leverages its extensive globaloffshore infrastructure and network of offices in 50 countries to provide multi-service delivery in keyindustry verticals, including manufacturing, financial services, media, telecommunication, healthcare,technology and public services, among others.

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Spicejet tumbles after Q2 net loss widens to Rs 561 cr

Nov 15 2021 6:55PM

SpiceJet is a domestic low-budget air carrier which provides scheduled flights between major cities in India.Net sales increased by 28.1% to Rs 1,301.71 crore in Q2 FY22 from Rs 1,016 crore posted in Q2 FY21. The airlinecompany posted a pre-tax loss of Rs 561.7 crore in Q2 FY22, higher than pre-tax loss of Rs 112.59 crore posted in Q2FY21.Operating expenses spiked 48% year on year to Rs 2,100 crore in Q2 FY22 from Rs 1,418 crore spent in Q2 FY21. Onan EBITDA basis, loss was at Rs 106.5 crore for Q2 FY22 as against a profit of Rs 442 crore reported for the sameperiod last year. The airliner reported EBIDTAR profit of Rs 50.6 crore in Q2 FY22 as against EBITDAR of Rs 475 croreposted in Q2 FY21.In terms of operational parameters, SpiceJet reported average domestic load factor at 78% for the quarter ascompared to 73.1% posted in same period last year.Spicejet said it witnessed a negative cash flow as the continuing rise in fuel costs could not be passed on to itscustomers due to committed long term contracts. The long-term contracts have now been re-negotiated andcorrected to suit the present operating cost environment.Ajay Singh, chairman and MD of SpiceJet, said, “With the nationwide vaccination drive growing at an unprecedentedpace across geographies, there is a significant jump in travel demand and we are very excited about the demandrecovery. The settlement with key lessors, the return of the 737 MAX in the current quarter (Q3), transfer of thelogistics business and some very significant announcements lined up soon are all positive tailwinds that should have asignificant impact on our long term plans. The return of the 737 MAX comes at the perfect time for us with passengertraffic picking-up and the government allowing airlines to operate at full capacity. We look forward to inductingadditional capacity in the form of our 737 MAX aircraft that will upswing our operational efficiencies and providesignificant cost saving capabilities.”In the reported quarter, SpiceJet received shareholders' approval to transfer its cargo and logistics services businessto its subsidiary, SpiceXpress and Logistics Private Limited, as a going concern, on slump sale basis valued at Rs2,555.77 crore. The transfer of the logistics business once consummated will result in a one-time gain for SpiceJetwiping out a substantial portion of the company's negative net worth. SpiceXpress carried more than 45,000 tonnesof cargo in Q2 FY22.The company also said that it has finalised terms of settlements with Avolon and CDB Aviation, two of its majorlessors of 737 MAX aircraft. The settlements and operations of 737 MAX aircraft will result in significant savings forthe airline. The airline expects to start flying its MAX aircraft soon once all regulatory approvals have been received.

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Fino Payments Bank slides on debut

Nov 12 2021 11:18AM

The initial public offer (IPO) of Fino Payments Bank was subscribed 2.03 times. The issue opened for bidding on 29October and it closed on 2 November 2021. The price band of the IPO was fixed at Rs 560-577 per share.The IPO comprised of a fresh issue to raise Rs 300 crore and an offer of sale (OFS) of 1,56,02,999 shares. The bankproposes to utilize the net proceeds from the fresh issue towards augmenting its Tier-I capital base to meet its futurecapital requirements. Additionally, the bank expects to receive the benefits of listing the equity shares on the stockexchanges.Fino Payments Bank is a growing fintech company offering a diverse range of financial products and services that areprimarily digital and have payments focus. It offers such products and services to target markets via a pan-Indiadistribution network and proprietary technologies. The bank has grown its operational presence to cover over 90% ofdistricts end September 2021.The payment business operates an asset light business model that principally relies on fee and commission-basedincome generated from merchant networks and strategic commercial relationships. Each merchant serves the bankingand financial needs of its community, which in turn form the backbone of assisted-digital ecosystem, referred to as"phygital" delivery model (i.e., a combination of physical and digital). The use of analytics on the data enhances themerchant's ability to cross sell the third-party products offered by the bank to existing customers, thereby increasingpotential revenue and opportunity to further customize products and services offering.The bank reported a net profit of Rs 3.13 crore on a net total income of Rs 203.19 crore in quarter ended June 2021.

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Balrampur Chini Mills Q2 PAT up 6% YoY to Rs 83 crore

Nov 8 2021 5:45PM

On the segmental front, Sugar revenue was Rs 1,020.46 crore (down 4% YoY), Co-generation revenue was Rs 27.72crore (down 10% YoY), Distillery revenue was Rs 253.07 crore (down 3.7% YoY) and Other revenue was Rs 4.38crore (down 25.5% YoY) in the second quarter.Total expenses fell by 7.2% to Rs 1,113.37 crore in Q2 FY22 from Rs 1,199.25 crore in Q2 FY21.Profit before tax in Q2 FY22 stood at Rs 106.84 crore, up by 7.4% from Rs 99.45 crore in Q2 FY21.Balrampur Chini Mills is one of the largest sugar producers in India. The operations of the company are forwardintegrated, manufacturing alcohol (using molasses, a byproduct of sugar) and power (using cogeneration frombagasse, another byproduct of sugar manufacturing).The scrip was down 1.10% to currently trade at Rs 333 on the BSE. It traded in the range of 330.85 and 339.85 sofar during the day

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Britannia Industries records 23% YoY fall in Q2 PAT

Nov 8 2021 5:44PM

Total expenses during the quarter rose by 11.2% YoY to Rs 3,138.15 crore due to higher raw material costs (up 8.3%YoY), higher employee expenses (up 14.2% YoY) and higher finance costs (up 30.7% YoY).Profit before tax in Q2 FY22 stood at Rs 522.84 crore, down by 22% from Rs 670.18 crore in Q2 FY21.Total tax expense fell by 19.4% YoY to Rs 141 crore during the period under review.Inventory turnover ratio was 40.87 in Q2 FY22 as against 47.75 in Q2 FY22.Operating margin was 14.09% in Q2 FY22 as against 18.34% in Q2 FY22.While the company's consolidated net profit has fallen by 1.4%, total revenue from operations have risen by 6% inQ2 FY22 as compared with Q1 FY22.Varun Berry, Managing Director, said: “In line with our strategy, we continued our focus on increasing directdistribution and improving our rural footprint. In this year, we saw higher growth in market share and as a result wesignificantly reinforced our market leadership.On the cost front, the global economy continued to witness supply led constraints across various input materialsfuelling inflation. As a result, we are witnessing unprecedented inflation in market prices of palm oil @ 54%, industrialfuel @ 35% and packaging materials @ 30% leading to an overall inflation in the quarter of approximately 14%.While we have been able to partially mitigate the impact through strategic forward covers and accelerated costefficiency programs, we have also initiated necessary price increases across the portfolio all of which will address thecost push and normalise profitability.”Britannia Industries is one of India's leading food companies. Its product portfolio includes biscuits, bread, cakes,rusk, and dairy products including cheese, beverages, milk and yoghurt.

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JSPL Q2 PAT spurts 188% to Rs 2,584 cr

Nov 2 2021 6:54PM

Despite sluggish domestic demand due to ongoing monsoons in the country, Jindal Steel & Power(JSPL) reported robust growth in sales and production in Q2 FY22. JSPL's sales volume surged 32%Q-o-Q (quarter-on-quarter) and 10% Y-o-Y (year-on-year) to hit a record of 2.13 million tonnes (MT)during the quarter. The second quarter also marked the first time JSPL steel sales crossed 2 milliontonnes quarterly volumes. The company continued to benefit from buoyant export markets as share ofexports in overall volumes increased to more than 40% in Q2 FY22 compared to 34% in Q1 FY22 and38% in Q2 FY21. Exports have become key channel of sales for the company, especially in times ofsubdued domestic demand.Meanwhile, JSPL was declared as the preferred bidder for Kasia Iron Ore Mine in Odisha. Kasia Minehas a large geological resource of 278 million tonnes of iron ore and it consists of an average Fe gradeof approx. 62.5%. Kasia is an operational mine having an Environmental Clearance (EC) of 7.5 MTPA(million tonnes per annum). The mine is 17 km away from JSPL's Barbil pellet plant. Iron ore fromKasia is stated to significantly boost JSPL's raw material security; especially as the company makessteady progress on its plans to raise its pellet capacity to 21 MTPA from 9 MTPA now by FY24 andsteel capacity to 16 MTPA from 9.6 MTPA by FY25. The company is also working towards setting up aslurry pipeline between Barbil and Angul (c. 200 km), which will not only help reduce logistics costsbut also lower carbon and dust emissions associated with raw material transport through road, thefirm stated in its press release.Higher volumes coupled with continued upward momentum in steel prices in Q2 FY22 resulted instandalone net revenues rising to Rs 13,261 crore. This was, however, partially offset by lower pelletsales (due to rising internal consumption) and declining pellet realizations. Better steel volumes andrealizations resulted in standalone EBITDA at Rs 4,519 crore for the reported quarter.However, the strong performance by all businesses including overseas mines, contributed in JSPLreporting a record consolidated gross revenues of Rs 14,902 crore and consolidated EBITDA of Rs4,594 crore. Higher operating profit and lower finance cost has led to consolidated PAT rising to Rs2,584 crore, rising 3% Q-o-Q.The Q2 FY22 phase continued to witness sharp rise in input costs, impact of which was compoundedby exhaustion of low cost iron ore inventory in Q1 FY22. While coking coal prices had risen sharplyduring the quarter, the impact was significantly lower given the company had already booked materialat lower prices for the quarter. The upward trend in coking coal (Premium hard coking coal) priceshave continued in October 2021, rising beyond $400 /t for the first time ever. Higher coking coalprices is likely to impact margins going forward. However, incremental supply from WCL's Russel Valemine in Australia and declining iron ore prices is expected to help contain margin compression fromrising coking coal prices.On the financial front, strong operational cash flows, improving working capital, declining finance costand lower capex have all contributed towards continuous deleveraging in Q2 FY22. Consolidated netdebt has declined further to Rs 11,164 crore in Q2 FY22 from Rs 15,227 crore in June 2021. For thereported quarter, finance costs have declined by 31% Y-o-Y in Q2 FY22. JSPL's focus on strengtheningits balance sheet has resulted in its net debt declining by c. Rs 35,350 crore from a peak of c. Rs46,500 crore in FY16. Conclusion of Jindal Power (JPL) divestment (accounted as asset held for sale)will result in net debt to decline further by Rs 3,015 crore, taking JSPL a step closer to its vision ofbecoming a net debt free company by FY23. The divestment received strong backing from theshareholders' approving the transaction in the EGM held on 3 September 2021. The company iscurrently in the process of getting relevant approvals from JSPL as well as JPL lenders and expect thedivestment to conclude in FY22 itself.For its outlook, Jindal Steel & Power (JSPL), highlighted: "India has recently hit the 100-crorevaccination milestone with more than 75% of the eligible population having taken the first dose.Steady vaccination ramp-up and easing of COVID-19 related restrictions are likely to help inbroadening the recovery, and external demand conditions remain supportive. After remaining subduedin H1 FY22, construction and infrastructure activities are expected to recover strongly in H2 FY22 asseasonally strong demand period sets in. This bodes well for JSPL with two thirds of its productportfolio catering largely to India's Construction & Infrastructure sector. Taking a cue from fallingseaborne iron ore prices, the domestic iron ore prices have also been declining for the past threemonths. This could aid margins for the company going forward with three fourth of this key rawmaterial sourced from third parties at this juncture. Start of operations from Kasia mine by end of Q3FY22 along with the operating Tensa mine is expected to provide more than 70% iron ore security forthe company's steel operations. The domestic steel industry however continues to grapple with thesharp rise in the coking coal prices. Premium Hard Coking coal has risen by 180% so far in FY22 andcurrently trading close to USD400/t levels. However, resumption of our Russel Vale mine in Australiawill provide some relief from rising coking coal costs, with first shipment expected in November 21."Shares of Jindal Steel & Power (JSPL) skid 2.91% to Rs 418.50 on BSE. JSPL is an industrialpowerhouse with a dominant presence in steel, power, mining and infrastructure sectors.

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Financials stocks rise

Nov 18 2021 10:20AM

Among the components of the S&P BSE Finance index, Repco Home Finance Ltd (up 2.6%), PunjabNational Bank (up 2.46%),Dhanvarsha Finvest Ltd (up 1.74%),Max Ventures and Industries Ltd (up1.49%),Motilal Oswal Financial Services Ltd (up 1.45%), were the top gainers. Among the othergainers were Piramal Enterprises Ltd (up 1.2%), Aditya Birla Money Ltd (up 1.12%), EdelweissFinancial Services Ltd (up 1.1%), Bajaj Finance Ltd (up 1.04%), and Equitas Holdings Ltd (up0.99%).On the other hand, SREI Infrastructure Finance Ltd (down 4.91%), Share India Securities Ltd (down3.13%), and Poonawalla Fincorp Ltd (down 2.8%) turned lower.At 09:50 IST, the S&P BSE Sensex was down 103.3 or 0.17% at 59905.03.The Nifty 50 index was down 41.15 points or 0.23% at 17857.5.The S&P BSE Small-Cap index was down 79.18 points or 0.27% at 29164.46.The S&P BSE 150 Midcap Index index was down 43.05 points or 0.47% at 9117.97.On BSE,1378 shares were trading in green, 1345 were trading in red and 132 were unchanged.

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Canara Bank extends losing run to seventh trading session

Nov 17 2021 7:28PM

Shares of Canara Bank have declined 9.5% in seven trading sessions from its previous closing high of Rs 244.25posted on 8 November 2021. The counter hit a 52-week high of Rs 247.60 on 9 November and before succumbing toselling pressure. The stock is up 140% from its 52-week low of Rs 92 posted on 17 November 2020.Meanwhile, India Ratings & Research upgraded Canara Bank's AT1 Bonds to ‘IND AA+' with a stable outlook. Theratings agency also affirmed IND AAA rating on company's long term issuer rating and company's Basel III Tier 2instrument with a stable outlook.On the technical front, the stock's RSI (relative strength index) stood at 57.647. The RSI oscillates between zero and100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.The stock is trading above its 50 and 100 days simple moving average placed at 188.64 and 170.91 respectively.These levels will act as crucial support zones in near term.Incorporated in 1906, Canara Bank was merged with erstwhile Syndicate Bank (e-SB) on 1 April 2020 to form thethird-largest public sector bank and the fourth-largest bank in the Indian banking system with a total asset base of Rs11.9 lakh crore as on 30 September 2021.The state-run bank's net profit surged 199.86% to Rs 1,332.61 crore on 2.59% increase in total income to Rs21,331.49 crore in Q2 FY22 over Q2 FY21.

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Manappuram Finance drops after Q2 FY22 PAT falls 9% to Rs 370 cr

Nov 15 2021 6:57PM

Manappuram Finance tumbled 9.75% to Rs 197.10 after the company's consolidated skid fell 8.8% to Rs369.88 crore on a 1.5% decline in total income to Rs 1,554.42 crore in Q2 September 2021 over Q2September 2020.Consolidated profit before tax dropped 9.1% to Rs 495.03 crore in Q2 September 2021 as against Rs544.41 crore in Q2 September 2020.On a segmental basis, revenues from Gold loans and Others declined 9.17% to Rs 1,199.83 in Q2FY22 as compared to Rs 1,321.10 crore in Q2 FY21. Revenues from Microfinance grew 38.07% to Rs354.59 crore in Q2 September 2021 from Rs 256.81 crore in Q2 September 2020.The board has declared an interim dividend of Rs 0.75 per equity share of face value Rs 2. Thecompany has fixed Thursday, 25 November 2020 as the record date to ascertain the entitlement ofinterim dividend among the shareholders and dividend/ dividend warrants shall be paid or dispatchedon or before 11 December 2021.Meanwhile, the board has appointed Shailesh Jayantilal Mehta as the chairperson of ManappuramFinance.Manappuram Finance is a gold loans offering non-banking financial company, engaged in providingfinance against used household gold ornaments.

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Tata MF introduces Floating Rate Fund

Jun 22 2021 12:36AM

Tata Mutual Fund (MF) has launched the Tata Floating Rate Fund, an open-ended debt scheme investing predominantly in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps/ derivatives). The NFO opens for subscription on June 21, 2021 and closes on July 05, 2021. The Entry load is not applicable for the scheme. The Exit Load is nil for the scheme. The minimum subscription amount is Rs 5,000 & in multiples of Re 1 thereafter.
The performance of the scheme shall be benchmarked to the CRISIL Ultra Short-Term Debt Index and its fund managers is Akhil Mittal.
The investment objective of the scheme is to generate income through investment primarily in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and money market instruments.


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Nippon India MF introduces Nifty Pharma ETF

Jun 22 2021 12:35AM

Nippon India Mutual Fund (MF) has launched the Nippon India Nifty Pharma ETF, an open-ended scheme replicating/ tracking NIFTY Pharma Index. The NFO opens for subscription on June 21, 2021 and closes on June 28, 2021. The Entry load and the Exit Load is not applicable for the scheme. The minimum subscription amount is Rs 1,000 & in multiples of Re 1 thereafter.
The performance of the scheme shall be benchmarked to the Total Return (TRI) and its fund managers is Mehul Dama.
The investment objective of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the NIFTY Pharma Index before expenses, subject to tracking errors.


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ICICI Pru MF declares IDCW FMP-Series 83-1108 Days Plan H

Jun 18 2021 7:25PM

ICICI Prudential Mutual Fund (MF) has declared Income Distribution cum capital withdrawal option (IDCW option) under ICICI Prudential Fixed Maturity Plan-Series 83-1108 Days Plan H. The record date for the same is June 23, 2021. The quantum of IDCW on the face value of Rs 10 per unit will be Rs 0.0500 each under Direct Plan-Quarterly IDCW, Half Yearly IDCW and Direct Plan-Half Yearly IDCW.
The units of the Scheme are listed on BSE. The trading of units of the Scheme will be suspended on BSE with effect from closing hours of trading of June 20, 2021. For the purposes of redemption proceeds, the record date for the Scheme shall be June 23, 2021.



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ICICI Pru MF declares IDCW Equity Savings Fund

Jun 16 2021 9:41PM

ICICI Prudential Mutual Fund (MF) has declared Income Distribution cum capital withdrawal option (IDCW option) under ICICI Prudential Equity Savings Fund. The record date for the same is June 21, 2021. The quantum of IDCW on the face value of Rs 10 per unit will be Rs 0.22 each under Half Yearly IDCW and Direct Plan-Half Yearly IDCW.



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ICICI Prudential Asset Management Company (AMC) has announced

Jun 4 2021 3:04PM

ICICI Prudential Asset Management Company (AMC) has announced changes in Scheme Information Document (SID) and Key Information Memorandum (KIM) of ICICI Prudential Flexicap Fund.
Pursuant to addendum No. 013/05/2021 dated May 19, 2021, ICICI Prudential Asset Management (AMC) announced that Value Systematic Transfer Plan (Value STP) shall not be available under the Flexicap Fund Scheme. The Scheme shall be a Target Scheme under Booster Systematic Transfer Plan (Booster STP). Read terms & conditions in the application form before investing or visit ww.iciciprumf.com. This facility should not be associated or confused with Systematic Transfer Plan, Flex Systematic Transfer Plan; all these are separate facilities provided by ICICI Prudential AMC Limited.
All the other provisions of the SID/KIM/addenda of the Scheme, except as specifically modified herein above remain unchanged.

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Crude oil futures bounced sharply in last session

Nov 30 2021 4:05PM

Crude oil futures bounced sharply in last session with the WTI Crude jumping more than 5% toapproach $73 per barrel mark. US economic cues were supportive. The US National Association ofRealtors (NAR) released a report on Monday showing that pending home sales rebounded. NAR saidits pending home sales index surged by 7.5% to 125.2 in October after tumbling by 2.4% to a revised116.5 in September. The pending home sales index surged to its highest level since last December butwas still down by 1.4% compared to the same month a year ago. The US equities bounced on Mondaywith tech heavy NASDAQ jumping nearly 2%. However, the commodity slipped from these levels amidrising US rig counts and uncertainty owing to new strain of Covid-19. WTI Crude oil futures arecurrently trading up 1% at $70.56 per barrel. MCX Crude oil futures ended up 3% at Rs 5342 perbarrel.

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Gold Supported Amid Dollar Weakness

Nov 30 2021 4:04PM

Gold futures consolidated just under $1800 per ounce mark as traders tried to get more clarity on theOmicron coronavirus variant and its likely impact on the economic recovery. While the new strain ofvirus has been found in some other countries apart from the origin i.e South Africa, the risk sentimentremained firm today with equities pushing up after the freak correction on Friday. Equities edged up inthe US trades but Gold found some support due to the sustained fall in the US dollar. The dollar indexis lingering just above 96 mark, holding around one week low. The COMEX Gold futures are currentlytrading at $1789 per ounce, up 0.26% on the day. MCX Gold futures ended at Rs 47982 per 10grams, up marginally on the day after hitting above Rs 48300 per 10 grams in intraday moves.

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Indian Rupee is Likely To Stay Choppy

Nov 30 2021 4:03PM

Easing crude oil prices and slight weakness in the dollar overseas could lend some support to theIndian rupee in opening trades on Tuesday, 30 November 2021, although sustained foreign fundoutflows amid worries surrounding the new variant of coronavirus continues to weigh. On Monday,rupee plunged by 23 paise to close at 75.12 against the US dollar, as investors turned cautious in viewof a new variant of COVID-19.At the interbank foreign exchange market, the local currency opened at 74.84 and witnessed an intraday high of 74.82 and a low of 75.16 against the US dollar in a highly volatile trading session. Thelocal unit finally settled at 75.12 a dollar, down 23 paise over its previous close. On Friday, the rupeehad plunged by 37 paise or 0.50 per cent against the US dollar to close at a nearly month's low of74.89, as investors resorted to risk-off sentiment. Investor concern resurfaced about lockdowns amida rise in COVID cases in Europe and a new variant, detected in South Africa. The dollar index, whichgauges the greenback's strength against a basket of six currencies, was trading at 96.12.Domestic equity indices ended a volatile trading session with small gains on Monday. The barometerindex, the S&P BSE Sensex, advanced 153.43 points or 0.27% to 57,260.58. The Nifty 50 indexadded 27.50 points or 0.16% to 17,053.95. Foreign portfolio investors (FPIs) sold shares worth Rs3,332.21 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs4,611.41 crore in the Indian equity market on 29 November, provisional data showed.Overseas, Asian stocks are mostly trading higher on Tuesday as Japanese stocks led gains regionally,with investors reacting to the release of Chinese factory activity data for November. Investors in theregion also continued to track any developments surrounding the omicron variant, which the WorldHealth Organization said is likely to spread further and poses a “very high” global risk.Wall Street stocks closed higher on Monday, regaining some of the ground they lost in Friday's sell-offas investors were hopeful that the Omicron coronavirus variant would not lead to lockdowns afterreassurance from U.S. President Joe Biden. If people are vaccinated and wear their masks, there's noneed for lockdowns, Biden said on Monday. Biden also said there would be no new travel restrictions.

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Aluminium Inventories Fall To Two Year Low

Nov 30 2021 4:02PM

Aluminium futures continued to benefit on falling inventories and firm cues from Copper. LMEAluminium moved up further after breaking above $2600 per tonne and closed at $2,650 per tonne,adding more than 2% on the day. LME Aluminium inventories have dropped to a two year low of909225 tonnes after falling more than 6000 tonnes in last session. This is likely to offer good supportto the metal. Global stock markets have also stabilized after the intense selling seen on Friday owingto the new variant of Covid. MCX Aluminium ended up 1.85% at Rs 212.50 per kg.

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Copper Sees Hefty Losses, Equities Melt

Nov 29 2021 4:27PM

Copper tanked around 3% in last session, testing near one and half week low of $4.28 per poundamid heavy correction in global equities. MCX Copper futures lost 2.58% to end at Rs 726.40 per kgamid feeble global cues. The DOW fell 2.5% to test around one month low. Sentiments have turnedaround due to the renewed Covid-19 scare though tight exchange inventories could cap losses for thered metal. There was nothing much on the economic front on Friday. The UK car production declinedby 41.4% in October as factories turned out 64,729 units, according to the latest figures releasedtoday by the Society of Motor Manufacturers and Traders (SMMT). It was the fourth straight month ofdecline and the weakest October since 1956 as car makers blamed the global shortage ofsemiconductors which led to production stoppages. Despite the overall decline, battery electric (BEV)manufacturing rose 17.5% to 8,454 units. Year-to-date output is below 2020, down 2.9% to 721,505units, compared with a year badly affected by factory stoppages arising from the first lockdowns.November was a strong sales period for UK retailers as consumers started shopping for Christmasearly, with selling prices also growing at the fastest pace since 1990, according to the latest quarterlyDistributive Trades Survey by the Confederation of British Industry. The survey of 125 companies,including 51 retailers, found that year-on-year retail sales growth accelerated in November by +39%from +30% the previous month, while quarterly questions found that retail selling prices increased atthe fastest pace since May 1990 by +77%.

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Indian Rupee: Local Equities To Offer Cues

Nov 29 2021 4:25PM

Indian Rupee could start on a weak note as heavy selling was seen in Asian equities due to worriesover a coronavirus variant detected in South Africa. The Indian Rupee slipped in last session amid afresh surge in the US dollar overseas. The INR fell 11 paise to end at 74.51 per US dollar. Someexporter selling is dragging INR lower ahead of month end. Local markets moved up from a threemonth low on steady global cues. Benchmark indices ended on positive note with Nifty finishing theF&O series above 17,500 mark. Among sectors, oil & gas, realty, pharma indices added 1% each.Local equities will offer direction for INR ahead of weekend.Meanwhile, the Reserve Bank Of India (RBI) has reported that currency in circulation eased 0.2% onthe week to stand at Rs 29.88 lakh crore as on November 19 2021. The central bank stated furtherthat the overall reserve money rose by 1.20% on the week to Rs 37.67 lakh crore. Currency incirculation rose around 8% on a year ago basis compared to 22.20% growth at the same time lastyear. In the current fiscal, the currency in circulation has gone up by 4.7% so far while the reservemoney has gained by a similar magnitude as well.

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Gold futures stabilized just under $1800 per ounce as markets eyed

Nov 26 2021 1:46PM

Gold futures stabilized just under $1800 per ounce as markets eyed continued improvement in Indianeconomic scenario. However, a firm undertone in the US dollar kept the overall price range choppy.MCX Gold futures ended flat around Rs 47450 per 10 grams after falling near Rs 47300 mark inintraday moves. India's Covid-19 recovery rate held up well above 98% and continued normalizationin economic activity augured well for consumer spending. India's formal job creation strengthenedfurther in September with 1.54 million formal jobs created under the Employees' Provident FundOrganisation compared to 1.36 million created in August, a growth of 13.2%. Year-on-year jump innet new subscribers under EPFO was 3% compared to September 2020 when it stood at 1.49 million.

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Crude Tanks 2.5% In Asia On Worries Over New Covid Variant

Nov 26 2021 1:44PM

Crude oil tanked in Asia on worries over a coronavirus variant detected in South Africa which may beable to evade immune responses. Asian equities tanked and WTI Crude oil lost around 2.50% to tradeat $78.40 per barrel. The MCX Crude oil futures fell near Rs 5810 per barrel before edging up. in lastsession The counter ended with modest losses around Rs 5850 per barrel. Oil had been supported thisweek on tight US gasoline market. The US gasoline stocks saw a slightly larger than forecast draw of0.603 million barrels, taking gasoline inventories to their lowest level since 2017, the EIA said.Distillate stocks also saw a draw of 2.0M barrels. The EIA noted that the average price that consumerspaid at the pump for U.S. regular gasoline on the Monday before Thanksgiving this year was $3.40per gallon (gal). This price is $1.29/gal (62%) higher than last year and is the highest preThanksgiving price since 2012

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Post-session-Sensex declines 195 pts amid negative global cues and ended with modest losses on Tuesday.

Nov 30 2021 4:08PM

Indian intraday Equity indices reversed intraday gains and ended with modest losses on Tuesday. The Nifty closed below the 17,000mark, reversing from the day's high of 17,324.65 hit in morning trade. Sentiment was dented as the Dow Jones indexfutures tumbled 468 points, indicating a negative start in US stock market today.As per the provisional closing data, the barometer index, the S&P BSE Sensex, fell 195.71 points or0.33% at 57,064.16. The Nifty 50 index fell 70.75 points or 0.41% at 16,983.20.Broader market outperformed the main indices. The S&P BSE Mid-Cap index rose 0.29% while theS&P BSE Small-Cap index gained 1.45%.Buyers outpaced sellers. On the BSE, 1,772 shares rose and 1,428 shares fell. A total of 152 shareswere unchanged.Economy:India's Q2 GDP numbers are slated for release later today, 30 November 2021.Primary Market:The initial public offer (IPO) of Star Health and Allied Insurance Company received bids for over 45.41lakh shares as against 4.49 crore shares on offer, according to stock exchange data at 15:21 IST onTuesday (30 November 2021). The issue was subscribed 10%.The issue opened for bidding on 30 November 2021 and it will close on 2 December 2021. The priceband of the IPO is fixed at Rs 870-900. The IPO consists of a fresh issue to raise Rs 2,000 crore andan offer of sale (OFS) comprises issuing 5.83 crore equity share.Star Health and Allied Insurance Company is the largest private health insurer with 15.8% marketshare in the overall healthy industry. The company has strong retail health insurance market share at31.3% in FY2021.New Listing:Shares of Go Fashion (India) were currently trading at Rs 1251.10 on the BSE, at a premium of81.32% as compared to the issue price of Rs 690. The scrip was listed at Rs 1316, representing apremium of 90.72% to the issue price. So far, the scrip has hit a high of 1341 and a low of 1210. Over10.30 lakh shares of the company have changed hands in the counter till now. The initial public offer(IPO) of Go Fashion (India) was subscribed 135.46 times.Go Fashion (India) proposes to utilize the net proceeds of the fresh issue towards roll out 120 newexclusive brand outlets, amounting to Rs 33.73 crore, funding working capital requirementsamounting to Rs 61.39 crore and the balance in for general corporate purposes.Stocks in Spotlight:Reliance Capital hit a lower circuit of 5% at Rs 18.10 after the Reserve Bank of India superseded thecompany's board yesterday. In a statement issued on Monday (29 November 2021), the Reserve Banksaid that it has superseded the board of directors of Reliance Capital (RCL) in view of the defaults byRCL in meeting the various payment obligations to its creditors and serious governance concernswhich the board has not been able to address effectively. The Central Bank has appointed NageswarRao Y (ex-executive director, Bank of Maharashtra) as the administrator of the company.Axis Bank rose 2.41% to Rs 666.55 after Fitch Ratings affirmed the bank's long-term issuer defaultrating (IDR) at 'BB+'.Union Bank of India slipped 1.15%. The Reserve Bank of lndia (RBI) has imposed a total penalty of Rs1 crore on Union Bank of India for violating certain provisions related to sale of stressed assets andreporting of frauds.V-Mart Retail jumped 7% after the company said it has opened one new store in Haryana inNovember 2021. With the opening of the new store, the total number of stores now stands at 376stores as at 30 November 2021.Earum Pharmaceuticals was locked in an upper-circuit of 5% at Rs 70.35 after the company fixedSaturday, 18 December 2021 as the record date for determining eligibility of members for the purposeof sub-division of the equity shares of the company.Global Markets:European shares tumbled while most Asian stocks ended lower on Tuesday amid fresh concerns aboutthe effectiveness of the current vaccines in combating the newly discovered Omicron Covid-19variant.The World Health Organization said that the Omicron variant is likely to spread further and poses avery high global risk.Meanwhile, China's factory activity unexpectedly picked up in November, growing for the first time inthree months as raw material prices fell and power rationing abated. The official manufacturingPurchasing Manager's Index (PMI) was at 50.1 in November, up from 49.2 in October, data from theNational Bureau of Statistics showed.

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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]