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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.

Wheat Futures Scale New Two Week Lows

Wheat  futures have scaled two week’s  lows   on the account of steady supplies in local mandies. As per latest data compiled by agriculture ministry , India’s wheat area has been increased to 31.8 million hectares in 2016-17, against the previous record of 31.5 million hectares planted in 2013-14.
The government agencies have also planned to procure 33 million tonnes of wheat this rabi season. This is almost 10% more than the procurement made in last season. The agencies has raised the targets in the wake of bumper production estimates in the current year. The NCDEX April futures declined by  1.33% today to close at Rs 1705 per quintal.
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COMMODITY MARKET UPDATE NEWS

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Menthaoil trading range for the day is 1009-1025.2.Mentha oil spot at Sambhal closed at 1147.20 per 1kg. Spot prices was up by Rs.0.60-.Mentha oil prices ended with losses amid muted demand in the domestic spot market.Further, ample stocks position on higher supplies from producing belts of Chandausi in Uttar Pradesh, too influenced mentha oil pricesPressure also seen on the speculation the area under cultivation can increase this year resulting good production.

Naturalgas trading range for the day is 162-191.8.Natural gas dropped as forecasts continued to call for mostly warmer-than-normal weather in key regions across the U.S. for the rest of the winter.Prices of the heating fuel are down a whopping 29% so far this year as forecasts for warm winter weather weighed on heating demand expectations.Total natural gas in storage currently stands at 2.445 trillion cubic feet, according to the U.S. EIA, 12.4% lower than levels at this time a year ago.

Gold prices steady, focus shifts to timing of US rate hikes

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Gold prices held steady on Monday, with investors looking ahead to a clutch of speeches from U.S. Federal Reserve officials later in the week for clues on the timing of possible interest rate hikes.

Spot gold had edged down 0.1 percent to $1,234.28 per ounce by 0319 GMT, while U.S. gold futures fell 0.3 %to $1,235.2. Spot gold may break support at $1,233 per ounce, according to Reuters technical analyst Wang Tao.

Gold trading range for the day is 29223-29517.Gold prices eased but notched a weekly gain as investors opted for the safe-haven qualities of bullion due to uncertainty about U.S. and European politics.Fed Chair Janet Yellen said U.S. interest rates may need to be raised in March.Holdings of SPDR Gold, have risen 5.6 % so far this month, the most since June 2016.

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Leading finance company, Muthoot Finance Ltd has informed in a filing to the Bombay Stock Exchange that the Board of Directors of the Company in its meeting held on February 13, 2017, have decided to make an additional investment in M/s. Muthoot Homefin (India) Limited (MHIL), Subsidiary Company by way of purchase of 17,00,000 equity shares of face value Rs. 10/- each at a price of Rs. 11.37/- per share aggregating to Rs. 1.93 Crs approximately from an existing shareholder.

Post the investment, Muthoot Finance Ltd. will have 88.27 per cent shareholding in MHIL. Meanwhile, shares of the company were trading at Rs 334.80 apiece, up 1.92 per cent from the previous close at 09:30 hours on BSE.

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J&K Bank to raise Rs 250 cr via issue of shares to state government

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J&K Bank will issue over 3.65 crore shares on preferential basis to the state government to raise Rs 250 crore. J&K Bank said the allotment to Government of Jammu & Kashmir, promoter and majority shareholder of the bank, will be at Rs 67.39 per share aggregating to over Rs 249.99 crore. “It is proposed to offer, issue and allot on a preferential basis, equity shares of the Bank for an amount not exceeding Rs 250 crore to the J&K Government,” J&K Bank said in a regulatory filing.

It said it is raising funds to meet needs of bank’s growing business, including long term capital requirements for pursuing its growth plans and to maintain its capital adequacy ratio. The bank will issue 3,65,55,051 equity shares to the state government.

 

“The preferential issue is proposed to be made to the J&K Government, the promoter and majority shareholder of the bank, who’ve conveyed their intention to infuse capital into the bank. With the preferential issue of shares, Jammu & Kashmir Government’s stake in the bank will rise to 56.45 percent from 53.17 per cent as of now.

 

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Oil prices rise on strong Chinese imports, OPEC-led production cuts

Oil prices rose on Friday after reports that OPEC members delivered more than 90 % of the output cuts they pledged in a landmark deal that took effect in January.

Supply from the 11 members of the Organization of the Petroleum Exporting Countries with production targets under the deal fell to 29.92 million barrels per day, according to the average assessments of the six secondary sources OPEC uses to monitor output, or 92 % compliance.

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The International Energy Agency (IEA) – one of OPEC’s six sources – said the cuts in January equated to 90 % of the agreed reductions in output, far higher than the initial 60 % compliance with a 2009 OPEC deal.
Global benchmark Brent crude settled up $1.07, or 1.9 %, at $56.70 a barrel. It touched a session high of $56.88. U.S. West Texas Intermediate (WTI) crude futures settled up 86 cents, or 1.6 %, at $53.86 a barrel.

Copper futures rise on increasing demand

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Copper futures were trading higher during afternoon trade in the domestic market on Friday on the back of a firm overseas trend and increased domestic demand.

Market analysts said besides increased demand from consuming industries, a firm trend in base metals at the LME as strengthening prospects of disruptions at the world s two largest mines threatened to send the market into a global shortage, mainly influenced copper prices at futures trade.

At the MCX, copper futures for February 2017 contract is trading at Rs 395.40 per kg, up by 1.23 per cent, after opening at Rs 392, against a previous close of Rs 390.60. It touched the intra-day high of Rs 395.60.