Browse Category: commodity tips


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.


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


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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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.

Mahindra & Mahindra to inspect fluid hose on Bolero Maxi Truck Plus vehicles

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Mahindra & Mahindra

Auto major Mahindra & Mahindra Ltd (M&M) has said that it is recalling an unspecified number of its utility vehicle Bolero Maxi Truck Plus in the country to fix defective fluid hose. “The Mumbai-based company has announced a “proactive inspection” of a fluid hose on Bolero Maxi Truck Plus vehicles, manufactured in September and October 2016,” M&M said in a filing to the Bombay Stock Exchange.

“This is in keeping with the company’s customer centric approach. The inspection and subsequent rectification will be carried out free of cost for Bolero Maxi Truck Plus DI customers, who will be individually contacted by the company,” it added. Meanwhile, shares of the company were trading at Rs 1267.50 apiece, up 0.35 per cent from the previous close at 09:28 hours on BSE.

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Currency to GDP ratio to hit 9% by March


Money in circulation is rising again in India post demonetisation and at the current rate, currency-to-GDP ratio will reach about 9 per cent by March — sufficient to stabilise economic activity. From 11.8 per cent of GDP on November 4, 2016 (pre- demonetisation), currency in circulation dropped to all-time low of 5.9 per cent on January 6; since then, it has risen for two straight weeks to 6.5 per cent as of January 20.

This suggests that re-monetisation is progressing well, as deposits of old notes into banks (currency outflow) has stopped (the window to deposit old notes ended on December 30), while the Reserve Bank is printing new notes (currency inflow) for circulation.”

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Government spending huge amount to modernise railways


The Rail Minister has said that the central government is spending huge amounts to modernise infrastructure, particularly in the railways sector to push growth. Commenting on the issue, Railways Minister Suresh Prabhu told the media, “The government will invest more in railways this year as compared to the previous year’s.” “Railways used to put Rs 30,000- Rs 40,000 crore in a year into railway infrastructure.

We increase the investment to Rs 1 lakh crore. Last year, it was Rs 1.21 lakh crore and this year, it will be definitely higher almost Rs 3 lakh crore has been invested in the span of two-and-half years,” he said. “These investments are in addition to whatever the ministry allocates out of the budget and by giving contracts to different agencies,” the minister added. He further said these huge investments in infrastructure and the new indirect tax regime Goods and Services Tax (GST) would help in spurring the economic growth of the country.

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Cellular operators ask TRAI to stop BSNL`s app-based service



The Cellular Operators’ Association of India (COAI) has written to Indian telecom regulator TRAI to seek its intervention to immediately stop state-run BSNL’s app-based calling service. “We request your kind intervention in issuing an immediate direction to the BSNL (Bharat Sanchar Nigam Ltd.) for withdrawing this app-based calling service,” Rajan S. Mathews, Director General, COAI, said in the letter to Telecom Regulatory Authority of India (TRAI) Secretary Sudhir Gupta.


Under the new service, the customers can make and receive calls while connected to a BSNL broadband modem by downloading the app onto their smartphones. This service is in no way linked with mobile service or customer SIM in mobile handset.


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SEBI sets listing rules for exchanges


The Securities and Exchange Board of India announced on Friday new measures for exchanges listing on a rival bourse to resolve any potential conflicts of interest, including closer oversight from an independent panel set up by the regulator. The rules come as BSE Ltd gears up to list on bigger rival National Stock Exchange on Feb. 3, after it’s up to 12.4 billion rupees ($182.23 million) initial public offering was heavily oversubscribed.

Among the new measures, SEBI said exchanges may appeal to an independent panel at the bourse in which they are listed when it feels “aggrieved” by a source of potential conflict. The exchange can also submit any complaints to an independent panel to be set up by SEBI to provide “independent oversight and review” and to monitor potential conflicts on a regular basis.

Concerns over conflicts of interest rose after the National Stock Exchange appealed to SEBI to be allowed to list on its own exchange, saying listing on another bourse would expose it to regulation by a rival. SEBI, however, rejected that appeal, and NSE last month went ahead with an application on the BSE. The application has yet to win SEBI approval. ($1 = 68.0442 rupees)

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