RBI does not target any range for Rupee

Ripples Advisory Private Limited, INdore

As the rupee touched a 17-month high against the US dollar, Deputy Governor S S Mundra today said the Reserve Bank does not target any range for the domestic currency and intervenes only to curb volatility. “We don’t target a particular range for the rupee. What we always do is to curb the undue volatility in the (forex) market,” he told reporters on the sidelines of Exim Bank’s annual commencement day lecture here.

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Today’s Equity Update >> SUPPORT and RESISTANCE | Click Here to Watch Now

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NIFTY MAR FUT (28th MAR 2017) : Trend : DownClose : 9067 Support : 8956-9031 Center Point : 9071 Resistance :9107-9183 Daily Reversal Value : 9123 RSI : 50.86

BANKNIFTY MAR FUT (28th MAR 2017) : Trend : DownClose : 21101Support : 20821-21004Center Point : 21189Resistance : 21187-21370Daily Reversal Value : 21051RSI :61.57

SENSEX (28th MAR 2017) : Trend : DownClose : 29237Support : 28869-29126Center Point :29273Resistance : 29384-29641Daily Reversal Value : 29424RSI : 46.14 


USDINR MAR (28th MAR 2017) : Trend : DownClose : 65.08Support : 64.65-64.96Center Point : 65.15Resistance : 65.27-65.58Daily Reversal Value : 65.84RSI : 42.20

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Indian ADRs end higher; Infosys, HDFC Bank, Tata Motors gain; Dr Reddy’s Labs up 1.6%

Wall-Street-lower-as-consumer-stocks-slip

Indian ADRs ended higher on Monday. In the IT space, Infosys was up 0.51 percent at USD 15.75 and Wipro gained 0.59 percent at USD 10.22. In the banking space, ICICI Bank jumped 1.67 percent at USD 8.54 and HDFC Bank rose 2.29 percent to USD 74.52. In the other sectors, Tata Motors was up 0.87 percent at USD 36.05 while Dr. Reddy’s Laboratories gained 1.66 percent at USD 40.34.

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Wall Street off as Trump agenda weighed; Dow down for 8th day

Wall Street

The S&P 500 cut earlier losses on Monday to end slightly lower, while the Dow declined for an eighth straight session, as investors assessed how the defeat of President Donald Trump’s first major legislative action would impact the rest of his agenda. With stocks soaring to record highs after Trump’s election, investors are concerned about the fate of his economic plan, including tax reform and infrastructure spending.

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जैकपॉट शेयरः एक शेयर चमकाएगा आपकी किस्मत

ऐसा शेयर जिसमें निवेश से आपको बंपर मुनाफा मिलेगा। जैकपॉट शेयर वो शेयर है जो लंबी अवधि में तो शानदार मुनाफा देते ही हैं, छोटी अवधि में भी निवेशकों को शानदार रिटर्न देने की क्षमता रखते हैं। यानि, मजबूत फंडामेंटल वाले ऐसे शेयर जिसमें आगे अच्छी तेजी की उम्मीद है।

 

आज का जैकपॉट शेयरः एफआईईएम इंडस्ट्रीज

ऑटो एंसिलरी कंपनी है, जो मिरर, हेड लाइट, टेल लाइट, इंडीकेटर बनाती है। कंपनी एलईडी लाइटिंग के कारोबार में भी है। कंपनी एलईडी पैसेंजर इंफॉर्मेशन सिस्टम बनाती है। देश में कंपनी के 9 अत्याधुनिक प्लांट है। 4 दक्षिण भारत, 4 उत्तर भारत और 1 प्लांट गुजरात में हैं। भारत, इटली और जापान में कंपनी के रिसर्च सेंटर है। कंपनी के ग्राहकों में देश की सभी कंपनियां शामिल है। फोक्स वैगन, स्कोडा, जीएम, हार्ले डेविडसन जैसे विदेशी ग्राहक भी है।

कंपनी की 5 साल की सालाना ग्रोथ अच्छी रही है। पिछले 5 सालों में कंपनी की आमदनी में साल दर साल 18 फीसदी, एबिटा में 27 फीसदी और मुनाफा में 39 फीसदी की ग्रोछ देखने को मिली है। वित्त वर्ष 2016 में कंपनी की आय 989 करोड़ रुपये, एबिटा 128 करोड़ रुपये, मार्जिन 12.97 फीसदी और मुनाफा 57 करोड़ रुपये रहा है।

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Today’s Call Updates by Ripples Financial Advisory

 

CASH CIRCUIT CALL: BUY VATECH WABAG ABOVE 675 TGT 703 SL 651 BELOW

 

HNI CALL: BUY BANK OF BARODA FUTURE ABOVE 171.50 TG 172.50 174.50 SL 169.50 BELOW

 

PLATINUM CALL: BUY SINTEX FUTURE ABOVE 102 TG 103 SL 101 BELOW

 

OPTION INDEX CALL:  BUY BANKNIFTY 21300PE ABOVE 273TGT 302.380 SL 230 BELOW

 

CALL: SELL ZINC @ 179.50-179.60 TGT 179/178 SL ABOVE 180.40

 

HNI CALL: SELL LEAD @150.50-@150.70 TGT 149.70,148.20 SL ABOVE 152

 

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Today’s Market Call Updates by Ripples Financial Advisory

PREMIUM CASH CALL-

BUY BBTC ABOVE 840 TGT 856,890 SL 816 BELOW

CASH CIRCUIT CALL-

BUY VATECH WABAG ABOVE 630 TGT 650 SL 610 BELOW

HNI CALL-

BUY FEDERAL BANK FUTURE ABOVE 90.40 TG 90.70 91.70 SL 89.40 BELOW

OPTION PREMIUM CALL-

BUY PNB 135CE ABOVE 4.60 TGT 5,6.20 SL 3.95 BELOW

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EXCLUSIVE >> FAQs of STOCK MARKET by Ripples Financial Advisory

 Q.What are value dates?

A. A value date is a day on which the transaction takes place. For foreign currency transaction, it takes T+2 days to settle the transaction. We have Four type of rates available with banks : Spot rate, Cash, Tom and Forward rate: Cash/Spot rate: Value today Tom/Spot rate: Value Tomorrow Spot rate: Value at T+2 Forward rate: Value beyond T+2 days

Q.What are Nostro and Vostro accounts?

A. A Nostro account is an account held in a foreign country by a domestic bank, denominated in the currency of that country. A Vostro account is a local currency account maintained by a local bank for foreign bank. Nostro and Vostro accounts are used to facilitate settlement of foreign exchange and trade transactions.

Q.What is an EEFC A/c?

A. Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with a bank. It is a facility provided to exporters, to credit 100 percent of their foreign exchange earnings to the account, so that the account holders do not have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs. No interest is payable on EEFC accounts.

Q.What are the permissible Credits and Debit into this account?

A. Permissible Credits • Inward remittance through normal banking channels • Advance remittance received by an exporter • Payment received for export of goods and services from India • Professional earnings like consultancy fees, etc Permissible Debits • Payment outside India towards a permissible current account transaction • Payment of customs duty etc.

Q.How are forward premiums/discounts determined?

A. Forward premiums and discounts is an interest rate differential between two currency. If the difference between forward exchange rate and spot exchange rate of one currency is a positive value, it is known as forward premium and if it is a negative value it is known as forward discount. In other words, if the spot ‘futures exchange rate’ is higher than the spot exchange rate then it is known as forward premium and if it is lower than spot exchange rate then it is known as a forward discount.

Q.What determines forward premiums for the dollar against the rupee?

A. In USD/INR market forward premiums determined by two factors a. Interest rate differential and Demand and supply of currencies due to partial convertibility of rupee and immature money market in India.

Q.What is a foreign exchange contract?

A. An agreement made to convert one currency into another currency at a specific rate on a specific date. Forward contracts are used to lock in exchange rates (a forward rate) for a specific future date, or for a range of dates. Forward contracts are often used as a tool to eliminate the impact of adverse currency moments. A forward rate is calculated by taking the spot rate and adding or subtracting forward points. Forward rates are determined by the interest rate differential between the countries of the two currencies which are being exchanged.

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As per second advance estimates for 2016/17, Production

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  As per second advance estimates for 2016/17, Production of jeera in Gujarat will be 2.21 lt, down almost 11% compared to last year production of 2.38 lt. In the current Rabi season, Gujarat farmers have planted Jeera in 2,78,700 hectares, down by 16,700 hectares compared to last year acreage of 2,95,400 hectares at the same time.

Sugar prices at futures counter closed lower on Wednesday

Sugar prices at futures counter closed lower on Wednesday on profit booking by the market participants expecting government interventions. The government has asked sugar mills to ensure adequate supplies to consumers. There are reports of 15% drop in sugar output till February 15’ 2017 compared to last year production.

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