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Ripples Advisory-India cotton exports gather pace as global prices rally

India’s cotton exports have been gathering pace after global prices jumped to four-year highs, with traders in the world’s top producer of the fiber signing contracts in the last three weeks to ship over 1 million bales, industry officials told Reuters.ripplesadvisory

Increased supply from India could drag on the rally in international prices and would likely compete with shipments to Asia from exporters such as Australia, Brazil, and the United States.

“Bangladesh, Vietnam, and Pakistan are aggressively buying from us due to lower prices. We have freight advantage over others,” said Chirag Patel, chief executive at India’s Jaydeep Cotton Fibers Pvt Ltd.

Indian cotton is being offered around 82 to 85 cents per lb on a cost and freight basis (C&F) to buyers in Bangladesh and Vietnam, compared to over 90 cents from the United States and Brazil.

“There is continuous export demand at the current price level,” said Atul Ganatra, president of the Cotton Association of India (CAI).

India could export more than 6 million bales in the current season ending on Sept. 30, up a fifth from previous estimates, Ganatra said.

“In January, we were expecting India could end the season with exports of 5 million bales. Now even 6.5 million bales seem quite possible,” said a Mumbai-based dealer with a global trading firm. He declined to be identified as he was not authorized to speak with media.

Indian merchants have contracted to export 4.7 million bales so far this marketing year, of which nearly 3.5 million have already been shipped, industry officials and dealers said.

The country exported 5.82 million bales of cotton last marketing year, according to data compiled by the state-run textile commissioner’s office.

A depreciation in the Indian rupee has also boosted exporter profits, stoking the appeal of sending cargoes abroad, dealers said.

The upturn in exports marks a change from just a couple of months ago when lower global cotton prices meant there was little incentive to ship overseas.

Demand from Pakistan, which resumed imports from India in January after making no purchases in the previous quarter, has been strong and the country could take as much as 800,000 bales this year, said Patel at Jaydeep Cotton.

India is likely to produce 36.2 million cotton bales in 2017/18, down 1.4 percent from an earlier estimate as the pink bollworm pest has hit some crops in key growing regions such as the western state of Maharashtra, said CAI’s Ganatra.

The nation’s cotton stocks could fall to their lowest in 14 years at 2.2 million tonnes at the end of the 2017/18 season, sapped by higher exports and improvement in domestic consumption, CAI estimates.

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Gold prices rise on trade war fears, Britain-Russia tensions

Gold prices edged up on Thursday, lingering near one-week highs hit in the previous session on political tensions between Britain and Russia and as worries over a potential trade war dragged on stocks and the dollar.ripplesadvisory

Spot gold rose 0.2 percent to $1,326.83 per ounce at 0431 GMT.

U.S. gold futures for April delivery rose 0.1 percent to $1,327.00 per ounce.

“Gold has been supported by geopolitical factors as well as dollar weakness … Stock markets were down overnight, we’ve got a bit of risk-aversion coming back in,” said a Hong Kong-based trader. He declined to be identified as he was not authorized to speak with media.

The U.S. dollar fell against the yen and pulled further away from a recent two-week high, while stock markets slipped broadly as lingering worries about global trade tensions weighed on investors appetite for risk.

The Trump administration is pressing China to cut its trade surplus with the United States by $100 billion, a White House spokeswoman said on Wednesday, clarifying a tweet last week from President Donald Trump.

On Wednesday, geopolitical tensions rose after the Russian Foreign Ministry said it would retaliate after 23 of its diplomats were expelled by British Prime Minister Theresa May over a chemical attack on a former Russian double agent in England that May blamed on Moscow.

U.S. television commentator and conservative economic analyst Larry Kudlow will replace Gary Cohn as President Donald Trump’s top economic adviser, adding another loyalist to Trump’s inner circle.

“I think Kudlow’s comments will probably support more of a trade war rhetoric than a stronger dollar,” the trader said, adding “gold needs to close above the $1,330 level to start getting some traction”.

Trump also spooked investors on Tuesday by firing Secretary of State Rex Tillerson, who was viewed as a supporter of free trade.

“The market continues to trade the range with Asian buyers stepping in under $1,320 and speculator profit-taking and producer selling capping the topside around $1,330-$1,335,” said MKS PAMP Group trader Alex Thorndike.

“Gold will likely remain range-bound into next week’s U.S. Federal Reserve meeting, with the market eagerly anticipating a first rate rise for the year, given the economy’s improved data.”

Spot gold is biased to retrace towards support at $1,317 per ounce, as it seems to have finished a bounce triggered by this level, according to Reuters technical analyst, Wang Tao.

Meanwhile, silver rose 0.3 percent to $16.54 per ounce and platinum gained 0.5 percent to $963.20 per ounce.

Palladium edged 0.6 percent higher to $993.00 per ounce after hitting $1,006.30 an ounce in the last session, its highest since March 1.

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Ripples Advisory-Cardamom futures up on rising demand

Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rising in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions supported the upward trend in the domestic cardamom prices.ripplesadvisory.

At the MCX, cardamom futures for April 2018 contract was trading at Rs 1089.90 per kg, up by 1.66 per cent, after opening at Rs 1089, against a previous close of Rs 1072.10. It touched the intra-day high of Rs 1097.

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Wipro, Havells India, Asian Granito, Bharti Airtel, Jet Airways

Wipro | Havells India | Andhra Bank | HDFC Standard Life | Jet Airways | TVS Motor | Himadri Speciality | Tata Teleservices and Yes Bank are stocks | which are in news today.


The company partnered with Trintech to deliver risk intelligent robotic process automation solution to enterprise finance functions

To divest hosted data center services business to Encino for USD 405 million

Asian Granito

The company is in the process to enter in JV with a local partner to establish 10,000 meters per day glaze vitrified tile manufacturing unit in Andhra Pradesh

Havells India

The company has signed an Agreement With Hyundai Electric For Manufacturing Magnetic Contactors

Other stocks and sectors in the news

Andhra Bank: The lender has kept 1-Year MCLR At 8.4 percent.

HDFC Life: Gave 31,65,606 options as ESOPs at Rs 10 face value.

Yes Bank: Malaysia based IHH is said to be eyeing the 17 percent stake it purchased in Fortis Healthcare.

ICICI Securities IPO opens on Mar 22, fixes price band at Rs 519-520

Bharat Dynamics IPO subscribed 46% on the second day of bidding

Bandhan Bank raises Rs 1,342 cr from anchor investors

Tata Comm to deploy 15,000 street lights on IoT network in 5 yrs

Tata Teleservices to phase out CDMA service in Delhi from Mar 19

Bharti Airtel approves the allotment of debentures to raise Rs 3,000 cr

Himadri Speciality to invest additional Rs 1,000 cr in Bengal

Jet Airways adds 144 new weekly flights this summer

TVS Motor launches Apache RTR 160 4V priced at Rs 81,490

MMTC to consider and approve the proposal for issue of bonus share on March 19

Network 18 Media – RBI gave No objection to the merger of foreign wholly-owned subsidiaries into the company

Welspun Enterprises emerge the lowest bidder (L-1) for a project of six lanning in the state of Tamil Nadu

Binani Cement creditors pick Dalmia Bharat – ET

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Sensex opens mildly lower, Nifty hovers around 10,400 amid weak global cues

Nagarjuna Fertilizers, RCF, FACT, Zuari Agro, GSFC, Himadri Chemicals, Oberoi Realty and Venky’s rallied up to 4 percent.


Country’s second largest public sector lender Punjab National Bank has detected another case of Letter of Undertakings (LoU) fraud in its Brady House branch in Mumbai, according to CNBC-TV18 quoting sources.

The state-owned bank has filed a complaint with Central Bureau of Investigation for a fraud of Rs 9 crore against Chandri Papers and Allied Products.

Both PNB employees named in Nirav Modi scam are part of the complaint, which is Gokulnath Shetty & Hemant Kharat.

Two LoUs in April 2017 was issued by PNB to Chandri Papers worth Rs 9 crore, sources said.

The fraud was much lower compared to Nirav Modi and Mehul Choksi scam worth Rs 13,600 crore.

Suzlon Group, India’s largest renewable energy solutions provider, announced that it has completed the commissioning of 340 MW solar power turnkey projects across sites in the state of Telangana (210 MW), Rajasthan (60MW) and Maharashtra (70MW).

The projects have been executed over a period of time, concluding in Q4 FY18.

With the commissioning of the 340 MW Suzlon has completed delivery of its entire solar order book.

The projects have been executed by a combination of joint ventures or formation of Special Purpose Vehicles (SPVs) with various partners.

Benchmark indices opened mildly lower, with the Nifty hovering around 10,400 levels, following a negative lead from global peers.

The 30-share BSE Sensex was down 54.89 points at 33,780.85 and the 50-share NSE Nifty fell 11.60 points to 10,399.30.

HCL Technologies, Wipro, Tech Mahindra, TCS, Dr Reddy’s Labs, Vedanta, Aurobindo Pharma and M&M were gainers in the opening.

The nifty Midcap index was up 53 points.

Nagarjuna Fertilizers, RCF, FACT, Zuari Agro, GSFC, Himadri Chemicals, Oberoi Realty and Venky’s rallied up to 4 percent.

HDIL, Jaiprakash Associates, Ashok Leyland and GMR Infrastructure were under pressure.

Asian markets edged lower, with regional stock indexes recording slight losses after Wall Street declined amid concerns over heightened trade tensions.

The Dow Jones industrial average fell as Boeing shares pulled back on worries the US could engage China in a trade war. The 30-stock index lost 248.91 points at 24,758.12.

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Nifty likely to head towards 10,600; 3 stocks which can give up to 21% return in 6 months

Gradually, Nifty will head towards last five week’s identical high of 10650, as it coincides with 50% retracement level of entire fall from January peak (11172-10142), placed at 10656.


Equity benchmarks witnessed a subdued session and settled at 10,366 levels. Since January 2018 peak, we have observed that index has seen up move over three consecutive sessions, in line with that, the market took a breather on Tuesday after three sessions rise.

In the last five sessions, Nifty has retraced 61.8% of earlier six days fall, indicating weak pullback, suggesting a round of a couple of day’s consolidation in a range of 10300 – 10450 levels.

We believe that the market will hold the intermediate support of 10300 as it is the confluence of:

a) 50% retracement level of recent pullback (10142 -10479)

b) The lower band of February’s consolidation range

Thus, any breather towards 10300 should be used as an incremental buying opportunity in quality stocks. Going ahead, we expect that the ongoing consolidation in the range of 10300 – 10450 would set the stage for next leg of a pullback.

Gradually, Nifty will head towards last five week’s identical high of 10650, as it coincides with 50% retracement level of entire fall from January peak (11172-10142), placed at 10656.

Therefore, 10450 would be the key level to watch out for as it is a confluence of:

a) The placement of falling channel (drawn adjoining recent lows of 10398 – 10303 and projected from high of 10632) around 10445

b) 61.8% retracement level of the last leg of fall (10632 – 10142) placed at 10444 coming session

Structurally, the recent decline of 490 points was smaller than the last leg of the fall of almost 896 points, indicating a deceleration of selling pressure near key support zone of 10100–10000.

After the first leg of the fall of 896 points, the Nifty retraced over 360 points. Thus, a comparatively bigger magnitude of pullback from here on would be the first signal of structural strength.

The Nifty and Nifty Midcap indices had broken out of their February lows whereas Nifty small cap managed to hold above it, indicating relative strength. At the same time, the Nifty small-cap index has taken support from the lower band of a long-term rising channel and bounced back.

Hence, we expect broader market to outperform amid the stock specific action. At the same time, we expect the index to hold the earmarked support of 10000 –10100 and form a base in the range of 10000 -10450.

Here is a list of top three stocks which can give up to 21% return in the next 6 months:

Titan Company Ltd: BUY| CMP Rs865| Target Rs1048| Stop Loss Rs768| Return 21% Time Frame 6 months

The stock witnessed a strong rally in the CY17 rallying from a low of | 297 to its all-time high of | 824. In the process, the stock witnessed a faster retracement of its last major decline as the 22-month decline was completely retraced in just seven months.

At present, stock confirmed the rising channel breakout (containing the entire price activity since March 2011 till date) by retesting it on the monthly chart, signaling a structural turnaround in favor of the bulls on the long-term chart.

The key support base for the stock is placed around Rs770 region as it is the trend line support joining previous lows December 2016 (Rs307) and October 2017 (Rs582), which also coincides with the recent trough of February 2018 thus making it a major support for the stock.

The key observation of price action reveals that the previous rally during December 2016 lows (297-654=357 points) has become bigger in magnitude than the preceding February 2014 – January 2015 rally (203- 444=241 points).

Further, the decline during September-October 2017 (| 654-564=90 points) is lower in magnitude compared to September–November 2016 decline (444-297=147 points).

The price rallies getting bigger and swifter while declines becoming shallower is a hallmark of the bull phase and corroborates the bullish view on the stock.

Considering the robust price structure and above-mentioned technical observations, we expect the stock to continue its current uptrend and head towards Rs1048 in the medium term where current up move from December 2017 low of Rs773 would achieve price parity with the previous major rally from Rs564 to Rs839 (839-564=275 points).

Godrej Properties: BUY| CMP Rs758| Target Rs850| Stop Loss Rs715| Return 12% Time Frame 1 months

The share price of Godrej Properties was consolidating in a broader range of 728–859 over two months. During two months consolidation, the stock has taken support from the gap area on January 8, 2018, on multiple occasions, indicating sturdy base formation around 728

Currently, it registered a breakout from falling trend line is drawn adjoining subsequent high of 912–849 supported by above average volumes, indicating termination of an intermediate correction.

Among oscillators, RSI found support from one-year long support base of 35 and pointing upward, confirming base formation.

The stock is likely to head higher in the near-term towards | 850 as it is the placement of identical highs coinciding with an upper band of broader consolidation range of | 859 – 728

NCC: BUY| CMP Rs126| Target Rs147| Stop Loss Rs115| Return 17% Time Frame 1 months

The share price of NCC has undergone a secondary phase of correction, in which it found support from 102 levels as it is the 61.8% of the last leg of the rally from September 2017–January 2018 of 81–141, placed around 104, corroborating with 200 DMA placed at 104

At present, the stock has bounced back after finding support from regression trend line (drawn adjoining subsequent January 2018 highs of 141 and 132) placed around |115, indicating a resumption of the primary uptrend.

On the oscillator front, RSI indicator has been inching upward, indicating inherent structural strength, augur well for next leg of up move.

The stock is likely to head higher in the near-term towards 147 being the 123% external retracement level of the current decline (141-102), while support remains near 50% retracement level of the current up move (102–130) around 115.

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Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

Indian rupee opens lower 11 paise at 64.93 per dollar

US dollar looks to be stabilizing after widening fiscal numbers, but the response to retail sales data will hold the key for directional moves in US dollar, and help rupee shift away from the 65 mark, says Anand James, Chief Market Strategist at Geojit Financial Services.


The Indian rupee opened lower by 11 paise at 64.93 per dollar on Thursday against previous close 64.82.Anand James, Chief Market Strategist at Geojit Financial Services said, “Rupee was trading mostly flat against the US Dollar with RBI’s decision to ban banks from issuing LoUs, not promoting any major moves.”

“WPI slipped to 2.42 percent, a seven month low; CPI on Monday had given similar signals.”

“US dollar looks to be stabilizing after widening fiscal numbers, but the response to retail sales data will hold the key for directional moves in US dollar, and help rupee shift away from the 65 mark,” he added.

President Donald Trump’s newly-appointed top economic advisor Larry Kudlow believes that good economic policy includes a “sound, stable dollar.”

The dollar fell against the yen and pulls further away from a recent two-week high, as lingering worries about global trade tensions weigh on investors’ risk appetite.

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Walmart aims to be Flipkart’s largest shareholder

The investment will value Flipkart at about USD 20-22 billion.

ripples advisory

Walmart Stores Inc. could buy up to 51 percent stake in Flipkart, according to a report the Economic Times reported citing sources.Walmart could initially buy about 20-26 percent stake and then increase its shareholding to 51 percent in tranches, according to the report.The deal, estimated at about USD 10-12 billion, will involve the purchase of shares from existing investors such as SoftBank Corp, Nasper, and Tiger Global, sources told The Economic Times. 

Japanese conglomerate SoftBank Corp is one of the largest investors in the Bengaluru-based company.

Walmart could take a hands-on role in running the company if the current transaction goes through. It has already concluded the due diligence process, according to the report.

The investment values Flipkart at about USD 20-22 billion, the report said.

Walmart, Flipkart, and SoftBank declined to comment on the speculation, the report said.

Initial media reports had suggested Flipkart will buy a minority stake. But a Reuters report last month said Walmart is looking to buy more than 40 percent stake in Flipkart.

A Mint report had also hinted any investment will likely make Walmart Flipkart’s biggest shareholder.

A deal with Walmart will help Flipkart compete with Amazon, which has been aggressively expanding its online and offline presence in India.

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Google to use new tools to locate Indian addresses better on Google Maps

Not just complicated locations and addresses, but these tools can be used for unique situations such as locating temporary events or guiding emergency services to locations in immediate need

ripples advisory

Google is launching new tools in its navigation app, Google Maps, to add and find Indian addresses better and give the users a smoother navigation experience, reports Economic Times.To enhance the discovery of addresses, Google has introduced Plus codes for locations, which are six characters along with city codes. These can be generated, shared and searched by any person typing into the search field on the app.

Not just complicated locations and addresses, but the codes can be used for unique situations such as locating temporary events or guiding emergency services to locations in immediate need, the company said in a statement.

It all depends on how people use it, says Suren Ruhela, Director of Google Maps’ Next Billion Users. Ruhela told ET these codes have the potential of replacing people entering long addresses during online shopping or food order, and that Google will explore these partnerships later on.

Currently, Google is in talks with the ministry of urban development to come up with codes for locating toilets on Google Maps.

Another feature that has been introduced is ‘Add an address’ which lets users address specific locations, much like how businesses add their locations. The company will verify and enable the address to be searchable. Google also added smart address search to find peculiar and detailed Indian addresses.

“At Google Maps, our objective has always been about organizing all location-related information, and making it more accessible and relevant for Indian users,” Ruhela added, saying that it is especially challenging in India.

Google Maps now also has voice navigation in six Indian languages including Bengali, Gujarati, Kannada, Telegu, Tamil, and Malayalam.

Gold rises on increasing U.S. protectionism concerns

Gold prices rose on Wednesday to a one-week high on a weaker dollar following U.S. Secretary of State Rex Tillerson’s sudden dismissal, which invigorated concerns of protectionist policies hampering global risk appetite.ripplesadvisory

Spot gold rose 0.12 percent to $1,327.56 per ounce at 0402 GMT. It touched $1,329.22 an ounce during the session, its highest since March 7.

U.S. gold futures for April delivery rose 0.09 percent to $1,328.20 per ounce.

On Tuesday, President Donald Trump fired Tillerson after a series of public rifts over policy on North Korea, Russia, and Iran, replacing his chief diplomat with loyalist CIA Director Mike Pompeo.

Risk aversion is back on the table following the unexpected news of Tillerson’s dismissal and the appointment of Pompeo, said OCBC analyst Barnabas Gan.

“Pompeo is a supporter of Trump’s trade policy and could help advance his agenda of imposing it on U.S. trading partners … all this uncertainty and risk aversion leaves gold as a safe haven option,” Gan added.

The U.S. dollar wallowed against the yen and other major currencies after the dismissal of Tillerson. This killed off an earlier bounce in the currency.

A weaker dollar makes bullion, which is used as an alternative investment during times of political and financial uncertainty, cheaper for holders of other currencies.

“With the U.S. protectionist rhetoric likely to ring equity market alarm bells, gold should continue to be an ideal hedge in this highly unpredictable environment,” said Stephen Innes, APAC trading head at OANDA.

Asian shares eased on Wednesday amid fears of rising U.S. protectionism.

Meanwhile, data on Tuesday showed U.S. consumer prices cooled in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation probably will be only gradual.

Inflation is a key economic factor the U.S. central bank considers when deciding monetary policy. A strong U.S. inflation reading could raise expectations for future interest rate increases, which would put pressure on non-yielding bullion.

“The 0.2 percent increase in consumer price index suggests it won’t be enough to spur more rate hikes by the Fed than already expected,” ANZ analysts said in a note.

Spot gold may rise to $1,334 per ounce, as it has cleared a resistance at $1,327, according to Reuters Technical analyst Wang Tao.

In other precious metals, silver rose 0.5 percent to $16.62 per ounce.

Platinum gained 0.3 percent to $964.50 per ounce and Palladium edged 0.1 percent higher to $991.47 per ounce.

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