Aluminium Futures Rise On Spot Demand

Aluminium on MCX settled down -1.38% at 106.85 tracking weakness from LME Aluminium which was bid 1.5 per cent weaker at $US1,600, the lowest in more than three weeks. Aluminium was the only metal in negative territory – it was last at $1,618, down $7, after a surprise stock jump of 12,600 tonnes to 2,310,050 tonnes.
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Prices are under pressure due to LME stock rose while prices can see bounce again as strengthening Chinese demand led Norsk Hydro, to raise its forecast for global aluminium demand growth this year to 4-5 percent as it reported forecast-beating earnings on Thursday.
At the MCX, Aluminium futures for July 2016 contract is trading at Rs 107.25 per 10 grams, up by 0.37 %, after opening at Rs 106.35, against a previous close of Rs 106.85. It touched an intraday high of Rs 107.50.

Trading Ideas

Aluminium trading range for the day is 105.2-109.8.

Norsk Hydro ASA raised its annual global aluminum demand-growth forecast to 4 % to 5 % for 2016.

Aluminum daily stocks at Shanghai exchange came down by 2199 tonnes.

Federal Bank Q1 net Grows 18% to Rs 167 crore

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Private lender Federal Bank today reported a rise of 18.3 percent in net profit at Rs 167.3 crore during the June quarter of the current fiscal. The bank had reported a net profit of Rs 141.4 crore in April-June of 2015-16.

The total earnings of the bank increased to Rs 2,250.8 crore for the quarter under review, as against Rs 2,107.09 crore a year before, the bank said in a regulatory filing.

The bank kept its grip on asset quality as it saw only a marginal uptick in its bad loan profile, with gross non-performing assets (NPAs) rising to 2.92 percent of gross advances as of June 2016 against 2.59 percent a year ago.

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डीबी कॉर्प का मुनाफा 61.4% बढ़ा, आय 20.5% बढ़ी

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वित्त वर्ष 2017 की पहली तिमाही में डीबी कॉर्प का मुनाफा 61.4 फीसदी बढ़कर 103.8 करोड़ रुपये हो गया है। वित्त वर्ष 2016 की पहली तिमाही में डीबी कॉर्प का मुनाफा 64.3 करोड़ रुपये रहा था।

वित्त वर्ष 2017 की पहली तिमाही में डीबी कॉर्प की आय 20.5 फीसदी बढ़कर 570.4 करोड़ रुपये हो गई है। वित्त वर्ष 2016 की पहली तिमाही में डीबी कॉर्प की आय 473.4 करोड़ रुपये रही थी।

सालाना आधार पर अप्रैल-जून तिमाही में डीबी कॉर्प का एबिटडा 119.5 करोड़ रुपये के मुकाबले 181.2 करोड़ रुपये हो गया है। सालाना आधार पर अप्रैल-जून तिमाही में डीबी कॉर्प का एबिटडा मार्जिन 25.3 फीसदी से बढ़कर 31.8 फीसदी हो गया है।

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SOYABEAN COMMODITY MARKET UPDATE

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Soyabean on NCDEX settled down by -0.27% at 3729 due to expectation of better harvest as rains have eased in MP, the largest producer of soybean. As on now, soybean sowing was recorded at 96.6 lh, same as from a year ago as per the government data.

Soyabean trading range for the day is 3692-3780.Sowing progress in leading soybean producers like Madhya Pradesh, Maharashtra, and Rajasthan improved following good rains during July. Soybean acreage in the country is likely to decline but it may not affect the yield in the country due to hopes of good yield.

US soybean planting is complete, as on 26 June 2016.Further, about 95% of the newly planted US soybean has emerged which is up from 88% during the corresponding period last year and also up from 5 year average of 91%.

At the Indore spot market in top producer MP, soybean gained 28 rupee to 3818 rupee per 100 kgs.Technically market is under fresh selling as market has witnessed gain in open interest by 4.44% to settled at 50860 while prices down -10 rupee, now Soyabean is getting support at 3711 and below same could see a test of 3692 level, And resistance is now likely to be seen at 3755, a move above could see prices testing 3780.

Gold Holds On To Overnight Gains As Stocks, Dollar Retreat

Gold held steady on Friday, after rising over one percent in the previous session, as equities fell on weak corporate results and the dollar eased but the metal remained on course for a second straight weekly decline.
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Spot gold edged up 0.1 %at $1,332.56 an ounce at 0051 GMT. Bullion rose 1.2 % on Thursday, but was down about 0.4 percent for the week.

U.S. gold was up 0.1 % at $1,332.80 an ounce.

The U.S. Federal Reserve will wait until the fourth quarter before raising interest rates, likely in December after the presidential election, according to a Reuters poll which once again showed subdued inflation expectations.

U.S. home resales hit their highest in nearly 9-1/2 years in June as low interest rates lured first-time buyers into the market and the number of Americans filing for unemployment benefits fell last week, underscoring the economy’s strength.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.22% to 963.14 tonnes on Thursday.

MORNING TREND UPDATE NEWS

commodity live tips

GOLD
SUPPORT: 30750/30900
RESISTANCE: 31150/31300
TREND: SIDEWAYS

SILVER
SUPPORT: 46000/46300
RESISTANCE: 46900/47300
TREND: SIDEWAYS

CRUDE OIL
SUPPORT: 2930/2990
RESISTANCE: 3070/3130
TREND: DOWN

COPPER
SUPPORT: 332/335
RESISTANCE: 340/343
TREND: UP

Hindalco’s Consolidated net profit Falls 95% in 2015-16

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Aluminium and copper maker Hindalco Industries Ltd on Thursday said the Group’s consolidated net profit fell 95 percent to Rs 44.81 crore for the year ended March 31, 2016 as compared to Rs 854.21 crore reported in 2015.

Revenue from operations for the year ended March stood at Rs 100,042.16 crore where as the same was at Rs 104,281.10 crore for the year ended March 31, 2015.

Revenue from aluminium was lower at Rs 82,812.11 crore in 2015-16 as against Rs 83,139.49 crore in 2014-15. Copper revenue stood at Rs 17,245.65 crore, dipping from Rs 20,492.34 crore in the previous year.

Total expenses of the company decreased to Rs 95,537.82 crore in 2015-16 against Rs 98,927.09 crore in 2014-15.

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कोटक महिंद्रा बैंक का मुनाफा 3.8 गुना बढ़ा, आय 20% बढ़ी

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वित्त वर्ष 2017 की पहली तिमाही में कोटक महिंद्रा बैंक का मुनाफा 3.9 गुना बढ़कर 742 करोड़ रुपये हो गया है। जबकि वित्त वर्ष 2016 की पहली तिमाही में कोटक महिंद्रा बैंक का मुनाफा 190 करोड़ रुपये रहा था।

वित्त वर्ष 2017 की पहली तिमाही में कोटक महिंद्रा बैंक की ब्याज आय 20.1 फीसदी बढ़कर 1919 करोड़ रुपये रहा है। वित्त वर्ष 2016 की पहली तिमाही में कोटक महिंद्रा बैंक की ब्याज आय 1598 करोड़ रुपये रही थी।

वित्त वर्ष 2017 की पहली तिमाही में कोटक महिंद्रा बैंक का कंसोलीडेटेड मुनाफा करीब 2 गुना बढ़कर 1067 करोड़ रुपये हो गया है। जबकि वित्त वर्ष 2016 की पहली तिमाही में कोटक महिंद्रा बैंक का कंसोलीडेटेड मुनाफा 516.6 करोड़ रुपये रहा था।

वित्त वर्ष 2017 की पहली तिमाही में कोटक महिंद्रा बैंक की कंसोलीडेटेड ब्याज आय 18.6 फीसदी बढ़कर 2,566 करोड़ रुपये रही है। वित्त वर्ष 2016 की पहली तिमाही में कोटक महिंद्रा बैंक की कंसोलीडेटेड ब्याज आय 2,163.5 करोड़ रुपये रही थी।

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Samsung Electronics sues Huawei in China for Patent Infringement

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Tech giant Samsung Electronics Co said on Friday it sued Huawei Technologies Co for patent infringements through multiple courts in China, escalating a legal conflict between the smartphone rivals.

The South Korean firm sued Huawei in a Beijing court about two weeks ago for allegedly infringing six of its patents, a spokeswoman said. She did not elaborate on the types of patents or the other Chinese courts involved.

“Despite our best efforts to resolve this matter amicably, it has regrettably become necessary to take legal action in order to defend our intellectual property,” Samsung said in a statement. Huawei representatives were not immediately available to comment.

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Rupee opens Flat at 67.18 per Dollar

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The Indian rupee opened flat at 67.18 per dollar on Friday versus previous close of 67.17.

“The USD-INR pair is boxed in a range for some time now and I expect similar behaviour going forward.”

According to him, support level of 67/dollar will hold and the trading range is seen between 67.10-67.50/dollar.

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