Tag: Earnings

Silver down on weak global cues

Silver down on weak global cues

27/07/2016 08:49

Silver futures closed lower in the domestic market on Tuesday taking weak cues from overseas markets.

Traders said the fall in silver prices was largely in line with a weak trend in precious metals at global markets as a stronger dollar and rebound in equities cut the demand for precious metals.

At the MCX, Silver futures for September 2016 contract closed at Rs 46,405, per 1 kg, down by 0.15 per cent after opening at Rs 46,376, against the previous closing price of Rs 46,473. It touched the intra-day low of Rs 46,289.

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Crude oil down on rising production

Crude oil down on rising production

27/07/2016 08:49

Crude oil futures closed lower in the domestic market on Tuesday as traders continued to fret over the prospect of more U.S. oil-drilling activities and an expected slowdown in domestic refining activities.

Also, concerns over the global economy and rising crude production continued to dent confidence in the oil futures market.

At the MCX, Crude oil futures for August 2016 contract closed at Rs. 2903 per barrel, down by 0.82 per cent, after opening at Rs. 2928, against the previous closing price of Rs. 2927. It touched the intra-day low of Rs. 2873.

Dilip Buildcon to raise Rs 430 cr through IPO

Dilip Buildcon to raise Rs 430 cr through IPO

26/07/2016 12:50

Dilip Buildcon plans to raise over Rs 430 crore through initial public offer and offer for sale, which will be primarily used to retire its debt and fund working capital requirements, reported PTI.

The issue, with a price band of Rs 214 and Rs 219 per share with a face value of Rs 10, will open on August 1 and close on August 3.

The Bhopal-based company is offering a fresh issue of 1,02,27,273 equity shares held by promoters Dilip Suryavanshi, Devendra Jain and BanyanTree Growth Capital aggregating up to Rs 430 crore.

“We will be utilising the proceeds of the issue to repay our debt which is around Rs 2,500 crore on standalone basis and also to meet our working capital requirements,” Head of Strategy and Planning Rohan Suryavanshi told reporters.

DBL, which is primarily engaged in construction of roads and highways, has an orderbook of almost 8,000 km worth over Rs 11,000 crore to be executed over the next 2.5 years.

The company has also planned for offer for sale (OFS) aggregating up to 1,02,27,273 shares valued at around Rs 224 crore. However, DBL will not receive any proceeds from OFS.

The lead managers for the issue are Axis Capital, IIFL Holdings, JM Financial Institutional Securities and PNB Investment Services.

Zinc futures down on muted demand

Zinc futures down on muted demand

26/07/2016 10:58

Zinc futures were trading lower during the morning trade in the domestic market on Tuesday as traders trimmed positions, tracking a weak global trend.

Besides, sluggish demand from consuming industries at domestic spot market fuelled the downtrend.

Analysts said the weakness in zinc at futures trade was mostly attributed to a weak global trend where it slid from a 14-month high.

At the MCX, zinc futures for July 2016 contract is trading at Rs 150.65 per kg, down by 0.86 per cent, after opening at Rs 151.70, against a previous close of Rs 151.95. It touched the intra-day low of Rs 150.50 (at 11:02 hours).

Cardamom futures up on strong demand

Cardamom futures up on strong demand

26/07/2016 10:54

Cardamom futures were trading higher during the morning trade in the domestic market on Tuesday after speculators widened their positions supported by rising demand in the spot market.

Further, restricted supplies from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend.

At MCX, Cardamom futures for August 2016 contract is trading at Rs 936.40 per kg, up by 0.11 per cent, after opening at Rs 937, against a previous close of Rs 935.40. It touched the intra-day hiigh of Rs 938(at 10:56 hours).

Crude oil down as glut fears persist

Crude oil down as glut fears persist

26/07/2016 08:57

Crude oil futures closed lower in the domestic market on Monday as the prospect of more oil-drilling activities in the U.S., a glut of petroleum-product supplies and an expected slowdown in domestic refining activities renewed worries that inventories of crude will continue to outpace consumption.

The ballooning glut of distillates, such as heating oil and diesel, around the world is also weighing on the outlook for crude demand.

At the MCX, Crude oil futures for August 2016 contract closed at Rs. 2926 per barrel, down by 1.18 per cent, after opening at Rs. 2972, against the previous closing price of Rs. 2961. It touched the intra-day low of Rs. 2917.

Gold up as market await fed outcome

Gold up as market await fed outcome

26/07/2016 08:56

Gold futures closed higher in the domestic market on Monday as the market awaited key central bank meetings later this week.

The US Federal Open Market Committee (FOMC) will meet on Wednesday, and though recent positive US data has lifted expectations of a US rate hike in September, majority still do not see the FOMC lifting rates within this year. Nonetheless, investors will still focus on the language of the FOMC statement to detect any possible changes to US monetary policy.

At the MCX, Gold futures for August 2016 contract closed at Rs 30918, per 10 gram, up by 0.15 per cent after opening at Rs 30,782, against the previous closing price of Rs 30,871. It touched the intra-day high of Rs 30,930.

Silver rises as Fed outcome eyed

Silver rises as Fed outcome eyed

26/07/2016 08:56

Silver futures closed higher in the domestic market on Monday as the market awaited key central bank meetings later this week. The US Federal Open Market Committee (FOMC) will meet on Wednesday, and though recent positive US data has lifted expectations of a US rate hike in September, majority still do not see the FOMC lifting rates within this year. Nonetheless, investors will still focus on the language of the FOMC statement to detect any possible changes to US monetary policy.

At the MCX, Silver futures for September 2016 contract closed at Rs 46,470, per 1 kg, up by 0.32 per cent after opening at Rs 46,150, against the previous closing price of Rs 46,321. It touched the intra-day high of Rs 46,599.

Cotton future tumbles over 3% on MCX

Cotton future tumbles over 3% on MCX

20/07/2016 14:13

Cotton future continued losing spree on Wednesday, falling over 3 per cent at the Multi Commodity Exchange (MCX) as investors resorted to profit booking after strong rally in the last few sessions.

The sentiments were further dented after the Union ministry of textiles cut cotton output forecast for the current crop year (October 2015–September 2016), citing crop damage in major producing states.

At the MCX, cotton futures for July 2016 contract was trading at Rs. 22100.00 per bales, down by 3.16 per cent, after opening at Rs. 22640.00. It touched the intra-day low of Rs. 21910.00. (At 2:15 PM today).

India is the second largest producer of cotton and its derivatives in the world after China, accounting for about 18 per cent of the world cotton production. India also constitutes about 25 per cent of world area under cotton cultivation.

Stronger greenback pegs back Gold

Stronger greenback pegs back Gold

20/07/2016 14:19

Gold futures were trading lower during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the precious metal tracking weakness overseas as a stronger dollar curbed the appeal of the bullion as an alternative asset.

Stronger greenback makes the yellow metal more expensive for those holding other currencies, thus dimming demand for gold.

Meanwhile, renewed safe haven appeal after the IMF cut its growth forecast for the world economy in 2016 and 2017 in the wake of the Brexit verdict, trimmed losses in gold. The Washington-based lender sees the global economy expanding 3.1 per cent in 2016, down from 3.2 per cent earlier.

At the MCX, gold futures for August 2016 contract is trading at Rs 30,960 per 10 grams, down by 0.43 per cent, after opening at Rs 31,065, against a previous close of Rs 31,094. It touched the intra-day low of Rs 30,913 (At 14:09 PM).