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$418 mn FDI in Apr 2014-Sep 2016 in diamond, gold, ornaments

India has attracted USD 418 million foreign direct investment (FDI) during April 2014 – September 2016 in diamond, gold and ornaments, the Commerce and Industry Ministry said as per the PTI report. Listing details of major FDI equity inflow during the period, it said Mauritius-based Highdell Investments has invested USD 193.18 million in Kalyan Jewellers.

 

During the last two years (April 2014 – September 2016), a total of USD 418 million has been received as FDI equity inflow in diamond, gold and ornaments,” the Ministry said in its achievement report on gems and jewellery sector. It is one of the focus sectors in the ‘Make in India’ initiative of the government.

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The gems and jewellery sector in India is one of the largest in the world and contributes to about 29 per cent of the global consumption. In 2014-15, the sector constituted 13.3 per cent of the country’s total merchandise exports. The industry currently employs around 4.5 million skilled and semi-skilled workers across India and is expected to provide employment opportunities to more than 8.23 million persons by 2022.

The gems and jewellery sector in India is one of the largest in the world and contributes to about 29 % of the global consumption. In 2014-15, the sector constituted 13.3 % of the country’s total merchandise exports.

The industry currently employs around 4.5 million skilled and semi-skilled workers across India and is expected to provide employment opportunities to more than 8.23 million persons by 2022.

Nickel futures buoy on uptick in demand

Nickel futures were trading higher during evening trade in the domestic market on Wednesday as investors and speculators extended their positions in the industrial metal on rise in demand amid weaker US dollar against a basket of other currencies.

The greenback dropped following comments from the US President-elect Trump noting that the dollar is too high. Meanwhile, investors digested the UK Prime Minister Theresa May’s speech on Brexit plans in which she made it clear that- the UK will make a clean break from the EU and leave its single market of some 500 million people.

 

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At the MCX, nickel futures for January 2017 contract is trading at Rs 694.50 per kg, up by 0.94 per cent, after opening at Rs 690.20, against a previous close of Rs 688. It touched the intra-day high of Rs 696.10.

सरकारी दखल के डर से चीनी में गिरावट

 एकतरफा तेजी के बाद चीनी में गिरावट आई है और इसका दाम करीब 1 फीसदी गिर गया है। दरअसल बढ़ती कीमतों पर काबू के लिए सरकार ने दखल देने का संकेत दिया है। पिछले 3 महीने के दौरान चीनी की बेहद चौंकाने वाली चाल रही है। नोटबंदी की वजह से अक्टूबर से दिसंबर के दौरान चीनी की बिक्री करीब 8 फीसदी कम रही। इस दौरान चीनी का दाम करीब 15 फीसदी बढ़ गया। हालांकि उत्पादन में 5.5 फीसदी की गिरावट जरूर देखी गई है, जबकि इसके सामने दाम करीब 15 फीसदी बढ़कर सात साल के रिकॉर्ड स्तर पर चला गया।

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इससे भी चौंकाने वाली बात ये है कि ग्लोबल मार्केट में अक्टूबर के बाद से चीनी के दाम करीब 12 फीसदी नीचे आए हैं, जबकि घरेलू बाजार में तेजी का रुख रहा। चीनी की सप्लाई और डिमांड पर नजर डालें तो अब तक 105 लाख टन उत्पादन हुआ है और 70 लाख टन बकाया स्टॉक के साथ मौजूदा स्टॉक 175 लाख टन का है। दिसंबर तक मिलों के सामने चीनी की मांग 60 लाख टन से भी कम रही।

U.S. Oil rises from one-week low, U.S. inventory data in focus

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U.S. oil on Thursday moved away from one-week lows touched the session before, with investors turning their attention to upcoming government data on U.S. inventories.

Sentiment in oil markets has been torn between expectations of a rebound in U.S. shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others.

U.S. West Texas Intermediate (WTI) crude oil futures  were trading up 38 cents at $51.46 per barrel at 0035 GMT, after dropping to a one-week low on Wednesday at $50.91 a barrel.

Brent crude  , the international benchmark for oil prices, was yet to trade after closing down 2.8 percent in the last session.

Subdued demand drags down lead futures by 1.52%

Lead futures plunged by more than 1 % during morning trade in the domestic market on Tuesday as investors and speculators indulged in trimming their bets in the industrial metal amid fall in physical demand for lead, from battery-makers, in the domestic spot market.

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Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. At the MCX, lead futures for January 2017 contract is trading at Rs 152.45 per kg, down by 1.52 %, after opening at Rs 151.90, against a previous close of Rs 154.80. It touched the intra-day low of Rs 151.60.

Cardamom futures rise 0.62% as demand picks up

Cardamom futures were trading higher during morning trade in the domestic market on Tuesday as investors and speculators build up fresh bets in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market.

Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for February 2017 contract is trading at Rs 1565 per kg, up by 0.62 %, after opening at Rs 1560, against a previous close of Rs 1555.30. It touched the intra-day high of Rs 1580.

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IRDAI slaps Rs 15 lakh fine on HDFC Standard Life Insurance

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Regulator Irdai has imposed a penalty of Rs 15 lakh on HDFC Standard Life Insurance for violation of various regulations including the one for payment to brokers under the name of skill building, reported PTI. On scrutiny of the documents pertaining to the observation, it is found that the employees of the brokers were sponsored for foreign trips in the name of training, Irdai said in its order.

Certainly, foreign trips to the employees of the brokers influence the brokers to sell the products of a particular insurance company by acting as a defacto-agent thereby defeating the objective of insurance broking model, it said. Hence treating this is as a violation of regulation Irdai levied a penalty of Rs 5 lakh on the life insurer.

Apple to set up Bengaluru unit, manufacture iPhones from April

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Apple is looking to manufacture its flagship product iPhones out of a manufacturing unit near Bengaluru. Taiwanese OEM maker Wistron, will be rolling out a facility in Peenya, the city’s industrial hub, to make the iPhones. The unit will kick off operations beginning April, say industry sources to the newspaper. The Tim Cook company is seriously planning to kick off assembly operations and to fully make the phones in India by end of next year, say top sources to the newspaper. “Bangalore is being looked at seriously,” said multiple sources within the company. A local unit in India will make iPhones prices more competitive; Currently, imports attract 12.5 percent additional duty.

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 With an aim to expand it existing portfolio of beverages in the country, Coca-Cola India on Tuesday announced the launch of its “active hydration” beverage, Aquarius. The company said its entry into the “Active Hydration” segment marks its plans to shape the category which is currently at a nascent stage and has the potential to grow exponentially in the coming years. “In India, it (Aquarius) is aimed at shaping the category of Active Hydration, targeted at young and urban consumers who are active-minded and lead active lifestyles,” Debabrata Mukherjee, Vice President, Marketing and Commercial, Coca-Cola India and South West Asia, said in a statement.