Friday, 28 October 2016

Asian Markets Mixed; Nikkei up 0.5%

Asian markets turned mixed after opening positive, as oil prices begin to slip after an initial bounce in the US on OPEC comments. The ASX 200 fell 0.24 percent, weighed by declines in its financials subindex, which was down 0.51 percent. Losses were offset by strength in the energy subindex, which gained 0.48 percent, and the materials sector, up 0.68 percent. 

In Japan, the Nikkei 225 was up 0.53 percent, despite the weaker economic data released. A weaker yen likely drove the market's gains. The dollar/yen pair broke past 105 levels around the time of London Stock Exchange's close, on the back of a stronger dollar. 

The currency pair was trading at 105.15 as of 8:52 am HK/SIN, but may struggle to remain above 105, an analyst said.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

British data Prompts Global Bond sell-off; Wall Street Falls

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Strong growth data out of Britain prompted the biggest daily sell-off in government debt for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut.

 The bond sell-off gained momentum in the United States after upbeat jobless claims data pointed to another robust nonfarm payrolls number next week. Wall Street closed lower, dipping in a choppy session after the latest round of earnings reports. 

Losses in Comcast and consumer discretionary stocks offset gains in the healthcare sector, while European stocks slid and the US dollar advanced against the Swedish crown and Japanese yen. Official data showed that growth in Britain's economy slowed only slightly in the three months after it voted to exit the European Union. 

It grew 0.5 percent between July and September, a touch less than the second quarter's 0.7 percent, enough to temper fears about an immediate economic impact following the Brexit decision.

Thursday, 27 October 2016

Gold Steady on Dollar dip and higher Physical Demand

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Gold steadied on Wednesday, largely holding on to gains from the previous session spurred by a retreat in the dollar and healthy physical demand.

Gold had the potential to claw higher in the short term after the dollar pulled back from near nine-month highs and due to increasing appetite from speculators, one analyst said.

"We've seen the dollar rally halted and that may give gold some additional room to manoeuvre to the upside so I'm quietly constructive for gold," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.

"Outside markets are supportive - we're seeing weakness in stock markets, oil is trading lower and the dollar is a tad weaker."

Spot gold was barely changed, down some 0.1 percent at $1,272.46 an ounce by 1033 GMT. In the previous session, it hit $1276.67, its highest since Oct. 5.

U.S. gold futures also edged 0.1 percent lower to $1,273.
The dollar index slipped after rising as high as 99.119 on Tuesday, its highest level since Feb. 1, largely fuelled by expectations of a U.S. rate hike in December.


Uptick in demand lifts Cardamom Futures by 1.24%

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

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

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

At the MCX, cardamom futures for November 2016 contract is trading at Rs 1239 per kg, up by 1.24 per cent, after opening at Rs 1248, against a previous close of Rs 1223.80. It touched the intra-day high of Rs 1249


Sun Pharma’s arm launches AG Versions for different Tablets

Leading pharma major, Sun Pharmaceutical Industries Ltd. has said that its wholly owned subsidiary has launched in US, the Authorized Generic (AG) versions for all strengths of Olmesartan Medoxomil tablets – therapeutic equivalent of Daiichi Sankyo Inc.’s Benicar (olmesartan medoxomil) tablets; Olmesartan Medoxomil-Hydrochlorothiazide tablets – therapeutic equivalent of Daiichi Sankyo Inc.’s Benicar HCT (olmesartan medoxomil-hydrochlorothiazide) tablets; Amlodipine Besylate-Olmesartan Medoxomil tablets – therapeutic equivalent of Daiichi Sankyo Inc.’s Azor (amlodipine and olmesartan medoxomil) tablets; and Amlodipine Besylate-Hydrochlorothiazide-Olmesartan Medoxomil tablets – therapeutic equivalent of Daiichi Sankyo Inc.’s Tribenzor (olmesartan medoxomil, amlodipine, hydrochlorothiazide) tablets.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

The launch is pursuant to a distribution and supply agreement between Sun Pharma’s wholly owned subsidiary and Daiichi Sankyo Inc., which grants the Sun Pharma subsidiary, exclusive rights to distribute these tablets in the US for a pre-determined period. Benicar, Benicar HCT, Azor and Tribenzor recorded US sales of approximately USD 2.5 billion for the 12 months ending August 31, 2016, as per IMS Health.

India-Korea new DTAA to tax Capital Gains at Source

India's revised double taxation avoidance agreement (DTAA) with South Korea, under which capital gains tax will be levied at the source with effect from April 1, 2017, has come into force from September 16, on being notified, an official statement said on Wednesday.

"A new revised DTAA between India and Korea for the Avoidance of Double Taxation and the Prevention of Fiscal evasion with respect to taxes on income was signed on 18th May 2015.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

"It has now come into force on 12th September 2016, on completion of procedural requirements by both countries. Provisions of the new DTAA will have effect in India in respect of income derived in fiscal years beginning on or after 1st April, 2017," said a Finance Ministry statement.

The existing pact provides for residence-based taxation of capital gains on shares.

"The existing DTAA provided for residence-based taxation of capital gains on shares. In line with India's policy of taxation of capital gains on shares, the revised DTAA provides for source-based taxation of capital gains arising from alienation of shares comprising more than 5 per cent of share capital," the statement said.

Nifty 8650 Call adds 14.9 lakh shares in Open Interest

F&O cues: 

Nifty 8700 Put sheds 22.4 lakh shares in Open Interest on October 26 

Nifty 8600 Put shed 12.9 lakh shares in Open Interest 

Nifty 8550 Put added 8.2 lakh shares in Open Interest 

Nifty 8650 Call added 14.9 lakh shares in Open Interest 

Nifty 8700 Call added 12.3 lakh shares in Open Interest 

Nifty 8600 Call added 6.3 lakh shares in Open Interest 

FIIs in F&O on October 26 (Provisional data from NSE) 

FIIs net sell Rs 232 crore in Index Future 

FIIs net buy Rs 764 crore in Index Options 

FIIs net sell Rs 388 crore in Stock Future

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Rupee opens lower at 66.92 per Dollar

The Indian rupee opened lower by 9 paise at 66.92 per dollar on Thursday versus previous close 66.83. 

"With upcoming US elections, Fed rate hike on November 2 looks unlikely.

However, dollar continues to strengthen on the back of expectations of Fed rate hike in December." "The Rupee has been resilient in a range on the back of exporter selling. We expect the USD-INR to trade in a range of 66.75-67% for the day," he added.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Asia Slips after Apple Results hit Wall Street

Asian shares edged down on Thursday after disappointing earnings from technology giant Apple dragged on Wall Street, while the dollar remained shy of this week's nearly nine-month highs. Besides Apple results and forecasts from some other major US companies also weighed on US markets overnight. The S&P 500 and the Nasdaq Composite both skidded, though a standout performance by Boeing lifted the Dow Jones industrial average. 

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

MSCI's broadest index of Asia-Pacific shares outside Japan as well as Tokyo's Nikkei stock index were both down 0.2 percent in early trading. Expectations for a year-end rate hike by the Federal Reserve remained intact, and bolstered the greenback. 

In recent weeks, market participants have been pricing in more than a 70 percent chance that the U.S. central bank would hike interest rates in December, according to CME Group's FedWatch program. Later on Thursday, market participants will parse the latest data on US durable goods, jobless claims and pending home sales.

Apple Weighs on Wall Street

Apple's results weighed on US stock prices on Wednesday after the technology giant posted its first annual revenue decline since 2001, while oil and gold prices slipped. Apple, the world's largest company by market capitalization, fell 2.2 percent after it acknowledged strong demand for its iPhone 7 Plus caught the company off-guard and it was struggling to keep up with demand. 

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

The technology giant pulled down the S&P 500 stock index and Nasdaq, but gains in Boeing bouyed the price-weighted Dow Industrials. Boeing shares were trading at their highest level this year, after the world's largest planemaker reported a jump in quarterly profit despite slower sales. 

The Dow Jones industrial average rose 30.06 points, or 0.17 percent, to 18,199.33, the S&P 500 lost 3.73 points, or 0.17 percent, to 2,139.43 and the Nasdaq Composite dropped 33.13 points, or 0.63 percent, to 5,250.27.


Wednesday, 26 October 2016

GST will be game changer for Media, Entertainment Industry

Minister of Information and Broadcasting M. Venkaiah Naidu on Tuesday said the Goods and Services Tax (GST) will be a game-changer for the media and entertainment industry.
He also said that the media and entertainment industry needed to outline a firm roadmap to ensure the convergence of networks, devices and content, the core elements of the digital entertainment process.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

"The Make in India, Skill India and Digital India campaigns are clearly positive signals of the new transformation including GST which is expected to be a game changer for the sector," he said.

"The growth of varied platforms such as 4G, broadband, mobile technologies, digital media has enabled the sector to move towards convergence across platforms and content," Naidu said addressing the 5th edition of the CII Big Picture Summit here.

"The Indian media and entertainment industry needs to outline a firm roadmap to ensure the convergence of networks, devices and content, the core elements of the digital entertainment process," he said.

Bharti Airtel Q2 net Slides 4.9% at Rs 1,461 cr

Telecom giant Bharti Airtel on Tuesday in after-market hours reported that consolidated net profit fell 4.9 per cent to Rs. 1,461 crore in Q2 FY 2016-17 from the same period a year ago on increased spectrum costs. In Q2 FY 2015-16, the company had posted a consolidated net profit of Rs 1,536 crore, Bharti Airtel Ltd said in a filing to the Bombay Stock Exchange (BSE). Total consolidated revenues climbed by 3.4 per cent to Rs 24,652 crore in Q2 FY 2016-17 from Rs 23,836 crore in the same period a year ago.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Revenues from its India market stood at Rs 19,219 crore in Q2 FY 2016-17, up by 10.1 per cent from the same period a year ago, driven by healthy growth in Digital TV (20.9 per cent), Airtel business, (19.2 per cent), Homes (14.9 per cent) and Mobile (7.9 per cent), on a year-on-year basis, respectively. Gopal Vittal, MD and CEO, India & South Asia at Bharti Airtel said: “Overall revenue momentum in India has been sustained primarily due to the strong performance of our non-mobile businesses which grew in aggregate at 18.8 per cent y-o-y.”

Axis Bank net profit slumps as bad loans Rise

Axis Bank Ltd on Tuesday reported an 83 percent fall in second-quarter net profit after a sharp rise in bad loans, providing more evidence of how India's banks are struggling to cope with a $138 billion distressed loan burden.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

The banks' record stressed assets are mainly due to corporate loan defaults. State-controlled banks account for the bulk of the troubled loans, while among the private sector banks, ICICI Bank and Axis Bank account for the biggest chunk.

Axis Bank said its bad loans jumped to 4.17 percent of total loans as of end-September from 2.54 percent in June. About 72.87 billion rupees of loans from the bank's previously announced "watch list" of troubled loans turned non-performing in the second quarter, finance chief Jairam Sridharan told a media conference call on Tuesday.

The bank will raise provisions in the second half of the fiscal year, keeping credit costs high for the fiscal year to March, he said. But he saw the current year as the "likely peak" for bad assets. The bank still has 137.89 billion rupees worth of loans in the "watch list".


RIL Signs Agreements for Availing loan Facilities

Reliance Industries Limited (RIL) through its overseas wholly-owned subsidiaries have signed facilities' agreements for availing term loan facilities for an aggregate amount of USD 573 million (equivalent to approximately INR 3,828 crore[ll) for part financing the construction cost of six very large ethane carriers (VLECs) (the "Facilities"). 

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

RIL group had ordered six state-of-the-art VLECs, which will be the largest Ethane vessels ever built in the world.

The Facilities with door to door tenor of 12 year comprise of a Korea Trade Insurance Corporation (K-sure) insured tranche of USD 286.5 million and a commercial tranche of USD 286.5 million. The Facilities shall be secured by collateral of respective VLECs.

The said VLECs are financed at a debt to equity ratio of 80:20. Meanwhile, shares of the company were trading at Rs 1056.45 apiece, down 0.33 per cent from the previous close at 09:30 hours on BSE.

Essar Group to get Rs 1500-cr 'Bridge Equity' from US Hedge Fund

In a shot in the arm for the debt-laden Essar Group, American hedge fund Farallon Capital has come forward to offer a 'bridge equity' of about Rs 1500 crore, reports The Economic Times. The equity will go some way in resurrecting the fortunes of Essar Steel, say multiple sources to the newspaper. 

In an offshore entity run by Essar promoters, the US fund will have a quasi-equity exposure. This vehicle will invest the money in Essar Steel's equity. The newspaper reports that this investment will be against shares pledged by Essar Group founders Shashhi and Ravi Ruia, who will be returning the fund its money once the Rosneft-Essar Oil deal is over.


For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

L&T Infotech to buy Analytics start-up

Leading IT services provider L&T Infotech on Tuesday announced acquisition of Pune-based analytics start-up AugmentIQ Data Sciences Ltd. for an undisclosed amount.
"The acquisition will enable us to gain access to MaxIQ, the big data platform AugmentIQ developed and used by one of the world's largest credit bureaus, lead banks and regulatory agencies," said Infotech in a statement here.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

The four-year-old start-up offers Intellectual Property (IP)-based high-end analytics to enterprises worldwide to derive business benefits from big data.

The deal will enrich the IT arm of Larson & Toubro (L&T), the Mumbai-based Indian multinational with diverse businesses, including engineering, construction, manufacturing and financial services.

MaxIQ brings the power of automation and Do-it-Yourself (DIY) to big data. Its end-to-end, self-service approach enables business users to leverage big data technologies such as Hadoop & Spark easily.

"The acquisition will also help us to build upon MaxIQ by integrating it within our Mosaic Decision Science platform for ease of data ingestion, data discovery and industry specific use cases for accelerated data-driven decision-making," said the statement.


Gm Opening bell

The market has opened lower dragged by weak earnings. 

 the Sensex is down 194.67 points or 0.7 percent at 27896.75 and the Nifty is down 60.15 points or 0.7 percent at 8631.15. 

About 430 shares have advanced, 604 shares declined, and 69 shares are unchanged.


For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Nifty 8700 Put sheds 2.4 lakh shares in Open Interest

F&O cues: 

Nifty 8700 Call added 4.5 lakh shares in Open Interest on October 25 

Nifty 8750 Call added 1.9 lakh shares in Open Interest 

Nifty 8700 Put shed 2.4 lakh shares in Open Interest 

FIIs in F&O on October 25 (Provisional data from NSE) 

FIIs net sell Rs 764 crore in Index Future 

FIIs net sell Rs 836 crore in Index Options 

FIIs net buy Rs 189 crore in Stock Future


For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Indian ADR: HDFC Bank, Wipro, Tata Motors fall; Dr Reddy's Gains

Indian ADRs ended lower on Tuesday. In the IT space, Infosys shed 0.3 percent at USD 15.69 and Wipro fell 0.04 percent at USD 9.69. 

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.


In the banking space, ICICI Bank was down 0.16 percent at USD 8.54 and HDFC Bank dipped 2,07 percent at USD 70.34. 

In the other sectors, Tata Motors was down 0.4 percent at USD 40.61 and Dr Reddy's Laboratories gained 2.07 percent at USD 48.36.

Indian Rupees Open High

The Indian rupee opened marginally higher at 66.80 per dollar on Wednesday versus 66.82 Tuesday. 

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

"The rupee fell against the dollar in afternoon trade and closed at 66.89/dollar. Month-end demand for dollar will weigh in on the rupee but exporters' dollar sales are likely to support the same." 

"The rupee will take cues from equity markets and trade between 66.65-67.10/dollar," he added.

Asia Stocks Slide after Wall St losses

Asian shares tumbled in early trade on Wednesday, following in the footsteps of Wall Street, which pulled back on disappointing earnings, while the dollar inched down from a seven-month high and oil prices slid. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent. 

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Japan's Nikkei lost 0.2 percent, while South Korea's KOSPI dropped 0.8 percent and Australia fell 1.4 percent. US stocks ended Tuesday down between 0.3 and 0.5 percent, as results and forecasts from companies in sectors including housing and consumer products missed expectations. 

Apple too dragged the market lower, as iPhone sales, which were better than expected, nevertheless continued a declining trend. The company also forecast slimmer-than-expected profit margins over the coming holiday season, even as it projected record sales. 

The US declines followed a mixed performance in Europe, with British shares closing up 0.45 percent, Germany flat after hitting its highest level this year, and France down 0.3 percent. The broader European STOXX 600 fell 0.3 percent.

Wall Street Slips on Earnings

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

US stocks slipped from two-week highs on Tuesday as results and forecasts from companies in sectors including housing and consumer products failed to live up to expectations. Apple, the largest US company by market capitalization, posted after the bell better-than-expected iPhone sales that however continued a declining trend and shares fell about 2 percent, briefly dragging S&P 500 futures to session lows. 

During the regular session, Whirlpool , down 10.8 percent to USD 152.09, cited soft demand as it posted lower-than-expected earnings and gave an underwhelming forecast. Sherwin Williams' outlook also disappointed Wall Street and shares fell 10.9 percent to USD 247.61. 

Both were an indication to some analysts that the housing sector may be cooling. "Lackluster results from Whirlpool and Sherwin Williams may indicate a slowing in the housing cycle," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. 

She said those results could be weighing on Home Depot , which was down 3.5 percent at USD 123.34 as the largest points decliner on the S&P 500. Lowes Cos fell 3.5 percent to USD 68.47.


Tuesday, 25 October 2016

Mentha oil Futures Gain as Demand Picks up

Mentha oil futures were trading higher during the morning trade in the domestic market on Tuesday as participants extended their positions in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Further, building up of frash positions by traders in the spot market led by an increase in demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.

At the MCX, mentha oil futures for October 2016 contract were trading at Rs 894.50 per kg, up by 0.36 per cent after opening at Rs 893.30, against the previous closing price of Rs 891.30. It touched the intra-day high of Rs 896.70


Glenmark Receives Approval for Nystatin Cream

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Glenmark Pharma has said that Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration {U.S. FDA) for Nystatin and Triamcinolone Acetonide Cream USP, 100,000 units/gram and 1 mg/g, the generic version of Mycolog-11 (nystatin and triamcinolone acetonide) Cream, 100,000 units/g, 0.1%, of Delcor Asset Corporation (which is no longer being marketed in the United States).

According to IMS Health sales data for the 12 month period ending August 2016, the Mycolog-11 {nystatin and triamcinolone acetonide) Cream, 100,000 units/g, 0.1% market' achieved annual sales of approximately USD 120.9 million. Glenmark's current portfolio consists of 111 products authorized for distribution in the U.S. marketplace and 60 ANDA's pending approval with the U.S. FDA.

Wipro Partners First Book to give books to Children in Need

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Wipro Limited, a leading global Information Technology, Consulting and Business Process Services company has partnered the nonprofit organization First Book to give new books in the hands of Tampa-area kids in need. A truckload of 40,000 books was distributed October 1 at Hillsborough High School.

Books were available to all educators, school staff and community programs that work or volunteer with Title I schools, English Language Learners, Special Education programs, Exceptional Student Education programs or military families. Wipro Limited, which acquired the Tampa-based HealthPlan Services in February 2016, has a number of employees in the local area, many of whom volunteered during the two book distribution events.


SBI-led consortium seek investor for 600 MW power project

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

A lenders' consortium led by SBI is looking for a strategic investor for an under-construction 600 MW power plant at Raigarh in Chattisgarh, reported PTI. The consortium comprising SBI, State bank of Bikaner & Jaipur, L&T Infrastructure Finance and PTC Financial Services has proposed to conduct a Swiss Challenge auction for the under construction 600 MW (2x300 MW) thermal power project located in Raigarh, Chattisgarh, according to the bid document.

IDBI Capital has been appointed as advisor for the transaction, reported PTI. The consortium has already received an offer from an interested party. As per the bid document, a company is in the process of constructing a coal-fired thermal power plant of 1200 MW capacity Independent Power Plant in Raigarh District of Chhattisgarh in two phases of 600 MW each; of which Phase-I 600 MW is currently under implementation along with entire required infrastructure for 1200 MW project. The original cost of the project was appraised at Rs 3,787.20 crore by the lenders in the debt-equity ratio of 75:25. But due to delay it has over-run to Rs 5,673.2 crore.

The company has sought further revision in project capital cost to Rs 5673 which is still to be approved by the lending group. The company had received the consent to establish the project in January 2011. The original scheduled commissioning date of the project was April 1, 2014 and July 1, 2014 for Unit 1 and 2 respectively. "However, the project suffered a delay due to various factors including non-performance by the selected EPC contractor," as per the document.

IDBI Bank Unions threaten Strike over wage Revision

Around 17,000 employees of the troubled state-run IDBI Bank, that has been reporting heavy losses on rising bad loans for several quarters now, have threatened to go on a nationwide strike if the management fails to conclude a new wage pact before the month-end, reported PTI. The salary revision of IDBI Bank employees, who do not come under the Indian Banks Association (IBA's) industry-wide wage settlement, had been pending since October 2012.

Since then the unions and IDBI Bank management could not conclude a new wage pact as the latter was awaiting IBA wage agreement. "We are shortly going to write to Managing Director Kishor Kharat seeking his intervention. If the bank management does not call them (unions) for negotiation before October 31, we may go for agitation which includes one-day strike in November," IDBI Bank Officers Union General Secretary Vithal Koteswara Rao told PTI. Of the 17,000 employees, 15,000 are officers.

The last wage revision for IDBI Bank employees was applicable from June 2009 to October 2012. Last May, the IBA, the apex body representing bank managements, signed a wage settlement with unions and officers associations of 43 lenders, including public sector ones, old private banks and a few foreign banks.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

PNB Housing Finance IPO opens Today

The IPO of the Mortgage lender PNB Housing Finance will open today and will close on Thursday, 27 October 2016. The price band of the IPO is fixed at Rs 750-775 to raise Rs 3,000 crore. The amount raised will be used to fund its expansion across the country. The company is planning to open 18 branches this fiscal.

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Post the IPO, the two promoters of the company - Punjab National Bank and Carlyle Group, L.P -- will together pare around 23.5 per cent stake. PNB's stake, which is currently at 51 per cent, will be reduced to 39 per cent while Carlye Group's holding will come down to 37 per cent from 49.6 per cent


Reliance Capital`s Q2 net Profit at Rs 253 Crore

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

Leading financial services provider Reliance Capital on Monday reported a consolidated net profit of Rs 253 crore for the quarter ended September 30, 2016.

The net profit grew by one per cent to Rs 253 crore for the second quarter (Q2) of the current fiscal from Rs 250 crore reported for the corresponding period of last year.

However, the Rs 253 crore net profit was reached after the company provided Rs 74 crore to strengthen the reserves of Reliance General Insurance.

"Q2 FY17 Net profit of Rs.327 crore (US$ 49 million) (prior to strengthening of reserves in Reliance General Insurance) - an increase of 31%," the company said in a filing to the BSE.
"Q2 FY17 Net profit of Rs.253 crore (US$ 38 million) (post strengthening of reserves by Rs.74 crore in Reliance General Insurance) - an increase of 1%."

USD-INR Pair Continues to trade Weak

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.


"The dollar index touched 9-month high of 98.85, with dollar continuing to rise against basket of major currencies on expectations of Fed hiking rates in December, with probability of December hike rising to almost 80 percent.

The USD-INR pair continues to trade weak close to 67/USD levels. We expect the pair to trade weak on the back of strong dollar and also the FCNR redemptions." He further said, "The bonds continue to consolidate with 10 year bond yields hovering around 6.85 pct. 

With expectations of future OMOs receding and overall weak risk sentiment, expect the bonds to trade in a tight range with slightly weakening bias."

Morning Market Update

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

The market has opened in red with focus in Tata group stocks.

The Sensex is down 24.28 points at 28154.80 and the Nifty is down 2.35 points at 8706.60. 

About 615 shares have advanced, 309 shares declined, and 59 shares are unchanged. Tata Steel is down over 3 percent while Tata Motors and TCS are slipping over 1 percent. 

ICICI Bank, Adani Ports, Cipla, GAIL and Maruti are top gainers in the Sensex.

Ratan Tata Back in helm is Positive in long-Term

In probably what is India’s biggest boardroom battle, Tata Sons on Monday sacked chairman Cyrus Mistry and replaced him with Ratan Tata as the interim head for a period of four months. Some volatility is expected to come into the stock in near-term, but over the long term, it is positive for the company, believes Ajay Srivastava of Dimensions Consulting. 

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

“Positive for the stock in long-term as the man (Ratan Tata) is looking at expanding business and not contracting it,” he told CNBC-TV18. Some knee-jerk reactions to the news are expected, but no damage over long-term is expected, echoed Ramesh Damani, member of BSE & NSE adding that “though it will expose dirty linen of Tata Group to the public eye.” 

The important question is who will ultimately succeed Mistry, Damani added. Subsidiaries like Tata Motors and TCS are likely to benefit from the change, but Tata Steel or Docomo could bear some brunt of the news. Cyrus Mistry will be contesting his removal in courts. 

Experts believe that if removal has been done as per the Articles of Association of the company, then no court can interfere.