Rupee hits over 2-week high Versus US dollar

The Indian rupee today hit over two-week high against the dollar, tracking gains in Asian currencies markets. In the afternoon hours today, the rupee was trading at 64.74 against the USD, up 0.17% from its yesterday’s close of 64.85. The rupee opened at 64.83 per dollar and touched a high of 64.72 levels.

So far this year, the rupee has gained 4.5 percent, while FPIs have bought 5.80 billion dollar in equity market and 22.48 billion dollar in debt market each. The dollar index was trading at 94.519, down 0.04 percent from its previous close of 94.56.

Infosys, the top loser on the Nifty index; stock trades ex-dividend

I.T major Infosys Ltd was the top loser on the Nifty index as the company started trading ex-dividend on Tuesday. Infosys stock fell 2.4% to Rs. 921.3 posting it the biggest intraday percentage loss since Sept 4. The stock was down about 7% this year up to the close of yesterday 30 October 30.

Infosys Ltd had decided, 1^st Nov 2017 as the record date for determining the names and rights of the equity shareholders, enabling them to participate in the buyback. The buyback was announced on 19 August 2017. It involved buying back of 11.3 cr shares through a tender offer at a price of Rs.1150 per share resulting in a total offer size of Rs.13000 cr.

Mahindra Logistics is all set to launch its Rs. 829 crore IPO on Tuesday

Mahindra Logistics Limited, the subsidiary of Mahindra & Mahindra (M&M), is all set to launch its Rs. 829 Cr Initial Public Offering (IPO) on Tuesday, 31 October, 2017, at the upper end of the price band. The company has set a price band of Rs 425 - 429 per share for its offer. The offer will remain open for 3 days for subscription from 31 Oct to 2nd Nov 2017.

The IPO will be based on 100 percent share sale through the Offer-for-sale (OFS) route from its on-hand shareholders of 1.93 cr with total equity shares of face value of Rs.10 each. The IPO of Mahindra Logistics Ltd, however, does not hold fresh issue of equity shares.

Kotak Mahindra Capital Company and Axis Capital are the book running lead managers to the issue. Mahindra Logistics is a part of the Mahindra Partners Division of the Mahindra Group which operates in two separate business viz. supply chain management (SCM) and corporate people transport solutions (PTS). 

Shares of Vedanta Limited rise on Rs 10,000 cr investment plan

Metal and Mining major Vedanta Ltd has reported total revenue at Rs.9378 crore keeping its profit at 34.00 crore for the quarter ended June 30, 2017. The stocks were trading higher on Monday after reports suggested that the company’s chief Anil Agarwal has lined up an investment plan of a Rs. 10,000 crore for Jharkhand. Effectively, Vedanta stock gained 1.37% to Rs 344.35 on BSE today. The stock opened at Rs 340.05 and touched an intraday high of Rs 344.70 and a low Rs 339.95, in the first hour of trade.  

For the quarter ended June 30, 2017, Vedanta  Limited reported total revenue at Rs. 9378.00 crore and net profit stood at 34.00 crore.

The Sensex and Nifty hold steady with their morning gains as stellar buying seen in different sectors, led by Industrials, Oil & Gas, Auto and Consumer Durables.

At 12:37 hrs, BSE Sensex is trading at 33,242.level up by 85 points, while NSE Nifty is trading at 10,364 level up by 41 points.

Khadim India Ltd IPO opens on 2 November

Khadim India Ltd, Kolkata based second largest footwear retailer in India, is lined up with its IPO, which will open on 2 November, 2017 setting a price band of Rs.745 -750 per share for the offer, which values it at Rs. 1,288-1,297 crore.

The IPO consists of a Fresh Issue of up to 50.00 crore equity shares consisting of up to 65 lakh equity shares through OFS route

Khadim India Ltd competes with brands such as Relaxo Footwears Ltd, Bata India Ltd, Liberty Shoes Ltd, Sree Leathers Pvt. Ltd and Mochi Shoes Ltd.  IDFC Bank Ltd and Axis Capital Ltd are managing the Khadim share sale.

Maruti Suzuki Q2 profit rises 3.44%

The stocks of Maruti Suzuki were trading 1.3% higher at Rs 8,170 in the afternoon hours.

Maruti Suzuki Ltd on Friday reported a rise of 3.44% in profit after tax at Rs 2,484.3 crore for the Q2 ended Sept 30. It had reported a profit of Rs 2,401.5 cr in the corresponding quarter last year.

The company said it expects a double-digit increase for the remainder of the financial year.

The company sold a total of 4,92,118 vehicles during the quarter, a growth of about 18% over the same period of the previous year. Sales in the domestic market stood at 4,57,401 units, a growth of 19% . Exports were at 34,717 units.

The stocks of Maruti Suzuki were trading 1.3% higher at Rs 8,170 in the afternoon hours.

BSE, Ebix to set up Pioneering insurance distribution network in India

Leading bourse, the Bombay Stock Exchange (BSE), today said it has joined hands with Ebix Inc to set up a pioneering insurance distribution network in India.

BSE Investments Limited (BIL) is a wholly-owned arm of BSE, while Ebix Fincorp Exchange is a wholly-owned subsidiary of Ebix, signed the pact with the aim of revolutionizing end-to-end sales and insurance processing in the country.

The JV enterprise will allow distribution of outlets, stock brokers, wealth management advisors and financial institutions across life and non-life product segments.

The platform will include the entire insurance lifecycle from customer relationship management (CRM), agency management, multi-quoting, underwriting, policy generation, claims filing and decision to back-end insurance policy administration.

The IPO by Reliance Nippon Life Asset management subscribed 4.85 times on Second day

The IPO of Reliance Nippon Life Asset management (RNAM), having been fully subscribed on first day of the bidding process, carried on to see investor demand, as the issue got 4.85 times subscription by on Thursday mid-noon hours. Starting 12.30 pm, the IPO got bids for 211,399,301 shares against the total issue size of 42,840,000 shares, as per Exchange data.

The price band of the issue was fixed Rs 247-252 and the minimum bid lot at 59 equity shares. The quota for all investor divisions including retail individual investor’s was fully subscribed.

Reliance Nippon has priced its shares in a band of Rs. 247-252 per share. The offer will close on 27 Oct. The Rs. 1,542 crore IPO consists of a fresh issue of shares worth Rs. 617 cr. 

Modi govt’s mega plan: Banking Stocks Rally

Banking, particularly PSU bank stocks buzzed after Modi govt’s mega plan of Rs 2.11 lakh crore to recapitalization was announced. Effectively, heavy volumes were detected in banking stocks. Notably, the trading volume was enormous in the banking stocks that Nifty Bank index with several banking stocks surpassed the turnover of the 50-share Nifty index.

The stocks the PSU bank index of NSE traded in green today with SBI and PNB jumping up to 40%.  Nearly Rs 16405 crore worth of shares exchanged hands on the Nifty Bank index. SBI spurted 24.56% to hit the 52-week high of Rs 316.95, which itself solely contributing Rs 5,700 crore to the trading turnover.

PNB was the biggest gainers among the banking stocks, which rose 40% to hit the 52-week high of Rs 193.45. Bank of Baroda rose 28%, Union Bank of India soar 29%, Canara Bank  up 34%, Bank of India jump 30%, OBC up 25%, among the rally of  many PSUs.

PSU Bank stocks rise as Jaitley’s announcement of Rs 2.11 lakh cr bank recapitalization plan

The government has announced motivated plans for bank capitalization to enhance the economy, stimulate investments and generation of jobs, together with a highway construction project. Stocks of PSU banks picked momentum on Wednesday following govt’s plan to recapitalize the lenders with a huge capital size of Rs 2.11 lakh crore.

SBI rallied 19.57% to Rs 304.30, Union Bank of India up 20.37% to Rs. 158.10, PNB 29.94% to Rs. 179.45, OBC up 15.44% to Rs. 137.20 and Bank of Baroda at 23.09% to Rs. 176.20.

FM  Arun Jaitley on 24 October 2017, said that the cabinet has sanctioned Rs. 1.35 lakh cr for India’s public banking system from recap bonds, of the total approved 2.11 lakh cr. The Bonds are used as payment for the shares bought by the govt for those banks which are below par in a bid to raise their capitals. 

Nifty Realty spikes by 1.22%

Realty stocks registered a surge on Tuesday at lunch hours, rising up the Nifty Realty index higher by 1.22%. With the Real Estate Regulatory Authority and GST settling in, market players expect sales of residential and commercial units to pick up.

Sobha developers Limited was leading the Nifty pack, with its stocks trading at Rs. 538.05 per share, higher by 4.65%, while the stock of Prestige Estates Projects Limited was trading at Rs. 289.95, up by 3.89%, and Godrej Properties was at Rs. 687.10, up by 3.87% followed by the shares of Housing Development & Infrastructure which was at Rs. 55.80 per share, up by 2.86%. Among realty stocks, Brigade Enterprises, DLF and India Bulls Real Estate were trading in the green zone, while Phoenix Mills, Oberoi Realty and Unitech were trading in the red zone at during the day. 

At 2:30 pm, Nifty50 was trading at 10,212.20, higher by 27.35 points while BSE Sensex was trading at 32,600.75, higher by 94 points.

HDFC Bank, Infosys Ltd Flat Ahead Of Q2

Sensex and Nifty opened on a positive note on Monday. Sensex gained over 100 pts and Nifty crossed the 10,200 level. HDFC Bank shares Flat were trading on a flat note ahead of Sept quarter earnings. HDFC Bank stock rose about 0.6 % to Rs 1,875 in later morning hours today. Its net interest income rose 20.2%  to Rs 9,610 crore V/s Rs. 7,994 crore year-on-year, while net profit seen increasing 20.7% Rs 4,171 crore from Rs 3,455 crore in the corresponding period last year.

Shares of Infosys Ltd also were trading flat in morning trade on Tuesday ahead of its results of Q2 Sept 30, 2017. Infosys will announce its financial results after market hours today. The scrip was trading 0.01% down at Rs 939.60 in the morning hours. Its shares opened at Rs 945 and touched a high of Rs 947.50 and low of Rs 937, during the time.

As per Reliance Securities estimation, Infosys Ltd may report revenue of Rs 17,560 crore in Quarter-2 FY-18 over Rs 17,078 crore in Quarter-FY 18. It said, the USD revenue is expected to jump by 3.6% on QoQ, while revenue in constant currency growth is pegged at 2.4% on QoQ.

Quarterly results to dictate market trend this week

The continuing quarterly results season, together with global markets cues and direction of foreign funds are expected to keep the tone for the key Indian equity indices through this week.

The major companies announcing their July-Sept 2017 quarterly results include, Hindustan Zinc Ltd. and Indiabulls Housing Finance will declare their financial results today, 23 October 2017.

Infosys Ltd, Asian Paints, Ambuja Cements, ICICI Prudential, HDFC Bank, Zee Entertainment Enterprises and ABB India Ltd will announce July-Sept 2017 quarterly results on Tuesday, 24 October 2017.

Kotak Mahindra Bank, Hindustan Unilever, Glaxo smithkline Pharmaceuticals, HCL Technologies, Mahindra & Mahindra Financial Services, RBL Bank and Tata Communications will announce their results on Wednesday 25 October 2017, while Yes Bank will announce their earning result on Thursday, 26 October 2017, whereas ITC, IOC, ICICI Bank, and Maruti Suzuki India will announce July-Sep 2017 quarterly results on Friday, 27 October 2017.

Wipro gains over 3% after Sept quarter results

Shares of Wipro Ltd today rose by over 3.16% to Rs. 298.65 on BSE after the company reported a 5.8% rise in net profit for the 3 months to September, while at the NSE, shares of Wipro went up by 3.19% to Rs. 299.10.

Wipro’s consolidated net profit in July-Sept at Rs. 2,191.8 crore, or Rs. 4.52 per share, was higher than Rs. 2,070.4 crore, or Rs. 4.28 a share, in the corresponding period a year ago. On a sequential basis, the profit was up 5.5% as per Indian Accounting Standards. The company’s total income fell by about 1.9% to Rs. 14,134.8 crore and its IT services revenue in dollar terms grew by 2.1% on Q-o-Q basis to 2.013 billion dollar in July-Sept, while constant currency sequential growth was 0.3%

Top stocks in spotlight on 18 Oct 2017

Stock Market opened lower on Wednesday against the previous session’s closing. The Sensex and Nifty fell in the morning hours. The Indian rupee strengthened a little bit against the USD. The shares of Wipro Ltd, Kotak Bank and Reliance rose, while the shares of Axis Bank and ICICI Bank fell.

The following stock, among others, will be in spotlight today 18 Oct 2017:- UltraTech Cement, Hindustan Zinc Ltd , Havells India Ltd, Indiabulls Housing Finance Ltd, NIIT Technologies, NOCIL are some of the major companies that are announcing their Q2 results today. 

Wipro Ltd has reported a 5.5% jump in sequential and 6% rise in year-on-year rise in net profit at Rs 2189.50 crore for the Sept quarter. Wipro has given guidance of USD 2014 million to USD 2054 million for December quarter revenue from its IT services business.

ONGC Stocks: State-run Oil & Natural Gas Corpn will invite bids from oilfield service providers to boost up output from some of its ageing fields under a long-term contract.

The two-wheeler maker Bajaj Auto Ltd has posted a 1% decline in net profit to Rs 1123 crore for the Sept quarter, largely on account of flat two-wheeler sales and rising input costs. 

Reliance Industries Ltd has submitted a USD 1.4-billion plan to generate 7 million cubic metres a day of natural gas from KG-D6 deep-sea fields in the Bay of Bengal.

Agri-commodity Preview: Cardamom falls, crude palm oil rises at MCX

Cardamom prices fell by Rs 18.90 to Rs 1,050.30/kg in futures market on Tuesday as traders scaled down holdings amid sluggish demand at the spot market. The offloading positions by participants despite slow demand in the spot market against sufficient stocks position on higher supplies, is attributed to the plunge in cardamom prices at futures trade.

At the MCX, cardamom for delivery in far-month January next year fell by Rs 18.90, or 1.77%, to Rs 1,050.30/kg, in a business turnover of 1- lot. On the other hand, the spice for delivery in Nov’ moth was trading down by Rs 7.40, or 0.72%, to Rs 1,018  kg, with a trading volume of 50 lots.

Meantime, the prices of Crude palm were on higher side by 0.31 percent to Rs.539.10/ 10 kg in futures trade today, since traders generated fresh positions, aided by pickup in demand at the spot market.  In futures trading at the MCX, crude palm oil for delivery October rushed by Rs 1.70, or 0.31%, to Rs 539.10 /10 kg, in a business turnover of 55 lots. Likewise, the oil for delivery in November jumped by Rs 1.50, or 0.28%, to Rs 535.60 /10 kg in 37 lots.

Top stocks in focus on 17 October 2017

Stock markets have opened lower on Tuesday with a negative bias. The domestic currency also opened lower versus the US dollar. Shares of Asian Paints, TCS, Bharti Airtel, and Axis Bank rose in the morning hours, whereas Tata Motors, Mahindra & Mahindra and Dr Reddy’s Labs fell.

Here is a list of a few major stocks that are likely to be in focus today:- Axis Bank is likely to report muted earnings for Sept quarter because of a rise in provisions. This is in spite of an expected moderation fresh corporate slippages and stellar digit loan growth.

Bajaj Auto - The two-wheeler major is to report mixed set of numbers on Tuesday for the quarter ended Sept 30, 2017. There are expectations that revival in demand from rural markets due to normal monsoons and early festive season will help the industry to post positive growth in Q2FY18.

Wipro Ltd - The Company is set to declare their Sept 2017 quarter results today, 17 October 2017 today.

Godrej Agrovet shares mark a strong debut on stock exchanges

Shares of Godrej Agrovet Limited marked a stellar debut on the exchanges on Monday after the company has concluded its Initial Public Offering last week. The stock advanced about 35% to Rs 621 from its issue price of Rs. 460 on BSE.

Shares of Godrej Agrovet Ltd rose 37% to hit the record high of Rs 629.85. The IPO of Godrej Agrovet subscribed 95.41 times on the final day bidding and mobilized over Rs 79000 crore for an issue size of Rs 1,158 crore.

Godrej Agrovet is the first IPO of Godrej group in eight years. The company has raised about Rs 341 crore from anchor investors ahead of its IPO. Over 74.17 lakh shares would be allotted to 25 anchor investors at Rs 460 /equity share, as per exchange filing.

Oil prices rise on Middle East Worries

Oil prices rose on Friday, as tumult in the Middle East underpinned the market. The WTI for November delivery on Friday reportedly increased USD 0.85 to settle at USD 51.45 a barrel on the New York Exchange, while Brent crude for December delivery rose USD 0.92 to close at USD 57.17 per barrel on the London ICE Futures Exchange.

US President Donald Trump said on Friday that he had decided to decertify Iran’s compliance with the landmark deal reached in 2015.

Analysts are of view that disorder in the Middle East and possible US action on the Iran nuclear deal heightened the oil prices, since traders are under geopolitical worries. On the data front, the number of rigs operating in U.S oil fields fell by 5 to a total of 743 rigs this week.

General Insurance Corp IPO fully subscribed on strong QIB demand

The Rs 11,370 crore mega initial public offer of General Insurance Corpn of India (GIC Re) got fully subscribed on Day third day of the bidding process on Friday under strong demand from qualified institutional buyers (QIB).

The issue received bids for 12,61,97,408 shares, which were 1.01 times the issue size of 12,47,00,000 shares on offer after lunch hours. The quota for QIB was subscribed 1.79 times, retail 32%, while non-institutional investor witnessed 5% subscription.

The company’s gross premium has grown at CAGR of 24.84% in FY15-17. On consolidated basis, the company’s gross premium has grown at a CAGR of 48.65% FY1517.

General Insurance Corpn of India’s IPO is India’s third biggest after Coal India Ltd’s Rs 15,200 crore and Reliance Power Ltd’s Rs 11,700 crore issues in 2008.

Reliance Nippon IPO sets price band, seeks to garner Rs1,542 crore

Reliance Nippon Life Asset Management Ltd (RNAM), comes up with an initial public offering (IPO), to raise up to Rs. 1,542 crore with the company, on Thursday.  The price band set of Rs. 247-252 per share. RNAM is a subsidiary of Reliance Capital, with Japan’s Nippon Life Insurance Co, as its strategic partner.

The offer will run from 25 to 27 October, involves a 10 percent stake sale in the company. Its two main shareholders viz. Nippon Life will sell up to 2.55 million and Anil Ambani’s Reliance Capital will sell up to 1.12 million shares, each.

JM Financial, Citic CLSA, Nomura and Axis Capital are the main banks managing the offer, while the book runners namely - Edelweiss, IIFL Holdings, SBI Capital Markets and Yes Securities.

Oil stocks surge on Wednesday

Oil stocks gained on Exchanges post lunch hours. Oil stock gains as the central govt might incentivize investments in the oil & gas exploration sector, as the GST Council had proposed.  Hindustan Petroleum Corporation Ltd (HPCL) rose 5.45% , Indraprastha Gas up 2.85%, Indian Oil Corporation (IOC) up 2.71%, Petronet LNG rose 2.48% Bharat Petroleum Corporation Ltd. (BPCL) up 2.41%, Reliance Industries rose 1.11% and GAIL up 0.50% , while Oil India stocks was trading on lower, down by 0.23%

V I P Industries Share Technical Recommendation for Tomorrow Trading ( 10 Oct 2017)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in VIPIND.

“VIPIND is the stock which I would suggest to buy above 276; this can see upside to levels closer to Rs 287 - 290 zones, keep stop loss below Rs 272.50.

Stock has been gaining for the last 3 days and has risen 6.56% in the period & Outperformed Sector by 1.92%.

Stock has traded higher than 5 day, 20 day, 50 day, 100 day and 200 day moving average.

VIPIND was closed 2.93 percent up today at 116.40 at NSE.

MCX gets Sebi nod for gold options.

The Multi Commodity Exchange of India Ltd (MCX) has received the regulator Sebi’s approval for the launch of gold option contracts with 1 kg gold futures the underlying commodity.

The exchange said in its circular that the date for launching options in gold would be announced separately but traders expect it to start trading around Diwali time. 

The regulator has allowed only one commodity option per exchange on a pilot basis. Non-agri commodities want to have an average turnover of Rs. 1,000 crore and the commodity needs to be in the top five list in terms of daily turnover.

BEPL/Bhansali Engineering Polymers Technical calls for Tomorrow Trading (9 oct 2017)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in BEPL.

“BEPL is the stock which I would suggest to buy above 119; this can see upside to levels closer to Rs 124 - 125 zones, keep stop loss below Rs 111.

Stock has been gaining for the last 4 days and has risen 42.65% in the period & Outperformed Sector by 8.15%. Vol has risen by 33.06% (Vol compared with 5 day avg vol till 04:00 PM).

Company is expected to give good quarter & it has shown good consistent profit growth of 97.74% over 5 years.

BEPL was closed 10.65 percent up today at 116.40 at NSE.

NSE withdraws advance collection of service charges from October

National Stock Exchange (NSE) has decided to stop advance collection of service charges, including transaction fee related to cash market, equity derivatives and currency derivatives segments, from this month.

Moreover, the NSE would not collect in advance annual charges for applications related to connectivity and co-location. The step is effective for all new requests from October 2017, as per NSE circular.

The exchange shall raise appropriate bills on the member at the end of each month for services consumed during that month. However, it said interest-free security deposits and one time charges, if any, applicable, wherever, would be collected in advance.

Best Share for Positional Trading By Technical Expert ( 6 Oct 2017)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is Advice to all Investor's you can Buy MARKSAN for Positional Investment.

“MARKSAN is the stock which I would suggest to buy above 49.20; this can see upside to levels closer to Rs 51 - 52 zones, keep stop loss below Rs 46”.

Stock has traded higher than 5 day, 20 day, 50 day, 100 day and 200 day moving average & Outperformed Sector by 1.99%.

MARKSAN was closed 4.24 percent up today at 47.90 at NSE.

GNFC Share Technical Wrap for Tomorrow ( 5 Oct 2017 )

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in GNFC.

“GNFC is the stock which I would suggest to buy above 375; this can see upside to levels closer to Rs 390 - 395 zones, keep stop loss below Rs 352”

Price has risen by 7.81% and Vol has risen by 158.81% (Vol compared with 5 day avg vol till 04:00 PM).

Stock has been gaining for the last 5 days and has risen 23.41% in the period & Outperformed Sector by 6.31%.

GNFC was closed 7.64 percent up today at Rs 369.20 at NSE.

Indian Energy Exchange IPO to open on 9 October

Indian Energy Exchange Ltd’s (IEX) IPO is all set to open for subscription from 9-11 October. The IEX has set a price range of Rs 1,645-1,650 per equity share of face value Rs. 10. It is expected to garner Rs. 1000.73 crore from the offer at the upper end of the price band by selling 60.65 lakh equity shares. The floor price of the shares is 164.5 times the face value and the cap-price is 165 times of the face value. 

The IPO will see a sale of 60,65,009 equity shares by existing shareholders which included Tata Power Company,  private equity arm of AB Group, Madison India Capital and Multiples Alternate Asset Management. IEX is India’s first power exchange providing automated trading platform for electricity and renewable energy certificates.

BBTC Share Technical Trading Ideas for Tomorrow from Market Expert ( 4 oct 2017)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in ADANI TRANS & BBTC.

“BBTC is the stock which I would suggest to buy above 1405; this can see upside to levels closer to Rs 1460 - 1470 zones, keep stop loss below Rs 1320”.

Stock has been gaining for the last 3 days and has risen 17.89% in the period & Outperformed Sector by 1.41%.

BBTC was closed 2.47 percent up today at Rs 1391.90 at NSE.

Kalyan Jewellers lines up Rs. 135.00 crore investment in Uttar Pradesh

Kerala-based Kalyan Jewellers has lined up investment of about Rs 135 crore to expand its track in the market in Uttar Pradesh. The Indian jewellery store chain, Kalyan Jewellers, which already run a company owned retail store in Noida, on today, 4th October 2017, announced to launch its 116th outlet in Lucknow.

As stated by the Executive Director of Kalyan Jewellers, Mr. Ramesh Kalyanaraman, the company have invested close to Rs 75.00  crore in the Lucknow market and by the end of this financial year, its third UP store would materialize in Kanpur. “Uttar Pradesh was a big market and contributed almost 10% to the country’s jewellery segment, which is still dominated by the local unorganized players. Before entering this market, proper diligence and market research had conducted to explore flourishing prospects in the business. We found that our brand provided the perfect proposition to the state customers taking into account of the product, design and value”, Kalyanaraman added.

The company has also under planning to launch new stores in other cities of the North, including Bhopal and Indore. The company claims a dedicated customer base of almost 1.5 million with 70% repeat buyers.

Kalyanaraman informed over the past few weeks, the domestic jewellery segment had registered an unpick in demand and the players were optimistic that the momentum would further pick up in the months ahead.

Gold prices rose after hitting a 7-week low US dollar retreats

Price of Gold advanced on Wednesday 4th October 2017, after hitting a 7-week low in the last session, sustained as the USD pulled back from 45-days high against a basket of currencies. At the morning hours, spot gold had risen 0.3% to USD 1,275.34 per ounce and touched its lowest since middle August at USD 1,267.76 on Tuesday.

As per economic point of view, the price of Gold has steadied in last one day, with a hindering US dollar contributing to the move. Further, Long liquidation throughout last fourteen days has put gold on a more sound footing. However, the dollar on Wednesday shed gains against a basket of main currencies over assumption that Donald Trump’s choice for the next US Fed Reserve chair may not be so aggressive against previously forethought.

Among other precious metals, silver rose 0.8% to USD 16.72 an ounce. Palladium jumped 0.7% to USD 921 an ounce while Platinum was 0.5% higher at USD 912 an ounce.

Meantime, Indian rupee made stronger against the USD ahead of the RBI bi-monthly policy outcome due late hours on Wednesday. The rupee opened at 65.34 per USD and was trading at 65.35 v/s dollar, up 0.24% from its last day’s close of 65.50. So forth this year, the domestic currency has gained 4%, while FPIs have bought USD 5.51 billion in equity market and USD 20.05 billion in debt market.

Best Stock Tips with Top Investment Advisory- Trading Suggestion for Tomorrow ( 3 Oct 2017 )

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in GRAPHITE.

“GRAPHITE is the stock which I would suggest to buy above 409; this can see upside to levels closer to

Rs 425 - 430 zones, keep stop loss below Rs 385”

Price has risen by 9.99% and Vol has risen by 34.10% (Vol compared with 5 day avg vol till 04:00 PM)

Stock has been gaining for the last 3 days and has risen 14.56% in the period & Outperformed Sector by 1.27%

GRAPHITE was closed 9.99 percent up today at Rs 408.85 at NSE

Reliance Communication shares close at record low after Aircel merger falls down

Shares of Reliance Communications Ltd (RCom) today closed 11% lower to a record low after the company aborted a plan to merge with Aircel Ltd. due to regulatory delays and opposition from some creditors. The stocks closed at a fresh life low of Rs. 17.10 on the BSE, down 10.94 percent from its last close, while the Sensex closed higher by 213.66 points to 31,497.38. The stock opened at Rs. 18.70 and come near a new all-time low of Rs, 16.75.

On Sunday, Reliance Communications said in a regulatory filing that the merger agreement with Aircel was allowed to lapse by mutual consent, on account of regulatory hurdles and resistance from some creditors. In its filing to stock exchanges, the company announced that it is looking at alternatives to trim down debt, including sale of real estate assets and optimization of spectrum.

The merger would have generated one of India’s largest telecom operators in terms of subscriber base. As per the agreement, ownership of the merged entity would have rested uniformly with Reliance Communications and Aircel parent Malaysia-based Maxis Communication

Rupee plunges 33 paise V/s US Dollar; RBI Policy meet outcome dictates the markets this week.

The domestic currency dropped sharply on the very first trading day of the third quarter of the financial year 2017-2018. The weaker note in rupee might also be on account of the fall in the FOREX reserves.

The Indian rupee again plunged into negative terrain today after it in some extent recovered from its 6 ½  month lows on Friday last week and it  dived upto 33 paise to the day’s low of 65.61/USD on Tuesday. The sharp pitch in the domestic currency came in after the US dollar gained more vigor against a basket of currencies overseas.

The US dollar hit a 1½ month high overseas since US manufacturing bustle in Sept advanced to its highest peak in 13 years. The rupee had ended 22 paise higher at 65.28 versus USD on Friday.

The fall in rupee might also be based the fall in the FX reserves. After making record highs week after week, As per the RBI data, the foreign exchange reserves plunged slightly by USD 262.3 million to USD 402.246 billion in the week, due to fall in foreign currency assets, In the previous week, the FX reserves HIT a record high of USD 402.509 billion.

Meanwhile, Benchmark indices opened higher on Tuesday following the positive cues from the Wall Street’s record closing on last week ended Friday.  The benchmark Sensex rose as much as 245 points to hit at 31,528, while the nifty ended at 9864 in post morning hours, Tuesday.  The 2-day bi-monthly policy meeting of the RBI will be starting from today. The result of RBI policy meet, macro-economic data points together with overseas investor’s investment trend will dictate the Indian stock markets this week.