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Commodity Market important Updates for 26 May 2017

Jeera trading range for the day is 17285-18035.Jeera prices ended with gains on rising exports demand at the spot market. However upside seenlimited amid sufficient stocks position following increased arrivals from producing regions. NCDEX accredited warehouses jeera stocks dropped by 48tonnes to 1785 tonnes.In Unjha, a key spot market in Gujarat, jeera edged up by 20 Rupees to end at 18286.65 Rupees per 100 kg.

Turmeric trading range for the day is 5162-5534.Turmeric prices ended with gains on short covering triggered by uptick in domestic as well exportdemand in the spot market.Markfed will purchase turmeric from farmers at a market intervention price at Duggirala market yard till June 30.NCDEXaccredited warehouses turmeric stocks dropped by 30 tonnes to 6637 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5471.45Rupees dropped -66.05 Rupees.

Soyabean trading range for the day is 2703-2779.Soyabean gained driven by a firming trend in the spot demand and global market. Indias 2016-17soybean sowing stood at 11.47 million hectare which resulted in output of 10.5 million tons of the seed.NCDEX accredited warehouses soyabean stocksdropped by 1950 tonnes to 110943 tonnes.At the Indore spot market in top producer MP, soybean dropped -3 Rupees to 2949 Rupees per 100 kgs.

Menthaoil trading range for the day is 897.5-921.3.Mentha oil spot at Sambhal closed at 1057.20 per 1kg. Spot prices was remain unchangeby Rs.0.00-.Mentha oil prices ended with gains amid rising demand in the domestic spot market.Further, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh, too supported prices.As on now stock positions of Mentha in MCX approved warehouses were around 3709 drums which is 36 drums less in comparison to previous day.

Aluminium trading range for the day is 125.2-127.Aluminium prices gains as support seen on plans by Chinese authorities to clampdown on polluting industries.China produces more than half of the worlds aluminium, estimated at around 60 million tonnes this year.Global demand for aluminium continued to grow in the first quarter of 2017, led by the transportation sector, while supply is expected to tighten in the second half.

Nickel trading range for the day is 575.1-594.9.Nickel prices dropped as pressure after BHP Billiton is seeking environmental approval to dig two new mines to extend the life of its Nickel West unit.Pressure also seen on prices after China trade data showed a surge in ore imports from the Philippines.The Dragon Boat Festival in China on Monday and Tuesday and public holidays in much of Europe on Monday have subdued volumes in industrial metals markets.

Zinc trading range for the day is 167-172.4.Zinc prices dropped amid expectations of weaker demand in top consumer China over the coming months.Moodys downgraded Chinas credit rating saying it expects the financial strength of the economy to erode in coming years as growth slows.China issued a draft of new rules for property sales and leasing to improve management and operation in a part of the services sector that is
often poorly regulated.

Copper trading range for the day is 365.1-377.7.Copper prices recovered from lows amid worries about prolonged disruptions at the giant Grasberg copper mine in IndonesiaAn estimated 9,000 workers at Grasberg operated by Freeport McMoRan will extend a strike for a second month.Inventories of the metal at 321,575 tonnes in LME warehouses are downward more nine percent since hitting a 7-month higher above 354,000 tonnes earlier in May.

Natural gas trading range for the day is 205.4-219.4.Natural gas dropped following data showing that natural gas supplies in storage in the U.S. rose more than expected last week.EIA reported that U.S. natural gas stocks increased by 75 billion cubic feet for the week ending May 19.Demand for the next week is expected to be moderate largely due to expected cooler temperatures into the weekend.

Crude oil trading range for the day is 3037-3435.Crude oil dropped as the extension of output curbs by OPEC and other producing countries disappointed investors who had hoped for larger cuts.OPEC and some non-OPEC producers agreed to extend a pledge to cut around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018.OPEC and non-members led by Russia decided to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude.

Silver trading range for the day is 39614-40084.Silver held steady as the dollar weakened after minutes from a US Fed suggested that the central bank could take a more cautious approach.Fed policymakers had agreed at the meeting that they should hold off from raising rates until it is clear that a recent U.S. economic slowdown.US Silver Eagle sales surged 140% in May, sales reached 2,005,000 so far in May compared to 835,000 in April.

Gold trading range for the day is 28550-28820.Gold prices little changed despite significant geopolitical tensions and Federal Reserve talk.Jobless- claims data showing that the US labor market remains healthy eight years into an economic expansion appeared to support rate hike.Federal fund futures suggested that traders believe there is an 83 % probability that the Fed will raise rates at its June meet.

Top Stocks to be Focused for 26 May 2017

Bharti Airtel BSE 1.57 %, Idea Cellular: Bharti Airtel, Vodafone India and Idea CellularBSE 0.94 % are likely to launch voice over LTE or VoLTE services by the end of September as part of their efforts to upgrade technology and compete better with the new entrant Reliance Jio Infocomm.

Cipla: Pharma major CiplaBSE -2.65 % on Thursday reported a consolidated net loss of Rs 61.79 crore for the quarter ended March 31, 2017. The company had reported net loss of Rs 92.83 crore in the same quarter last year.

GE T&D India: GE T&D, a subsidiary of GE Group, on Thursday posted an increase in net profit to Rs 46.1 crore for the fourth quarter ended March 2017. The company had a profit of Rs 26.9 crore in the same period a year ago.

Thomas Cook: Tour operator Thomas CookBSE 2.40 % reported a loss of Rs 16.42 crore for the fourth quarter ended March 2017. The company had a loss of Rs 23.55 crore in the same period a year ago.

ManappuramBSE 5.46 % Finance: Manappuram Finance, gold loan NBFC, reported a 54 per cent increase in net profit at Rs 200.57 crore for the fourth quarter ended March 2017. It had earned a net profit of Rs 130.70 crore in the same period a year ago.

Dhampur Sugars: The company on Thursday reported a marginal decline in consolidated net profit at Rs 107.27 crore for the quarter ended March 2017. Its net profit stood at Rs 111.82 crore in the year-ago period, the company said in a regulatory filing.

Phillips CarbonBSE 3.97 % Black: The company reported a sharp jump in net profit in the fourth quarter ending March 17′ to Rs 28.14 crore, an over nine-fold growth.

IDBI Bank: Aiming at a turnaround to augment its capital base and recover from bad loans, the IDBI Bank on Thursday said it has initiated the process to sell its non-core assets over a period of time.

HeidelbergCement India: The company’s net profit rose 49.25 per cent to Rs 37.03 crore on 14.05 per cent rise in total income to Rs 542.38 crore in Q4 March 2017 over Q4 March 2016.

Dr Reddy’s Labs: Dr Reddy’s Laboratories said the US health regulator USFDA has issued no observations after inspecting its formulations plant in Andhra Pradesh.

Stock Market Headlines for 26 May 2017

Market Live: Nifty hits record high, crosses earlier level of 9532, Sensex higher by 0.2%
Made in India portfolio: 7 sectors to benefit the most from 3 years of Modi govt policies
Nifty on track to hit 9,600; 5 stocks which can give up to 13% return
Asia opens flat after OPEC extends output cut
Wall Street gains on upbeat retail results
CLSA downgrades Cipla to underperform post Q4; cuts target price to Rs525
When Rakesh Jhunjhunwala grilled Lupin top brass after muted Q4 results
FII betting on leverage play! Top 10 stocks which have given up to 120% return in last 1 year
PSP Projects to make stock market debut on May 29
ITC Q4 net profit seen at Rs 2,653 crore; EBITDA at Rs 3,878 crore
Bull’s Eye: Buy Godrej Industries, Federal Bank, OBC, JSPL, MCX India
Stocks in the news: ITC, Sun Pharma, Infosys, Cipla, Lypsa Gems, Nalco
5 reasons why pharma stocks could still come under pressure
If timing market is a futile exercise, what is role of ‘Dynamic Asset Allocation’?
Ashok Leyland Q4 net at Rs 476 crore; revenues surge 13.2% at Rs 7,057
OPEC meets to extend oil cuts for up to one year
IDBI Bank crafts turnaround plan; to focus on NPA recoveries
New frontiers: Bitcoin goes past $2000, Ethereum up 2000% but fate of cryptocurrencies still uncertain in India

Indian rupee strengthened Against the US dollar

The Indian rupee on Thursday strengthened against the US dollar tracking gains in the Asian currencies markets after US Federal Reserve minutes signalled a moderate pace in rate hikes.The rupee opened at 64.56 a dollar. At 9.15am, the rupee was trading at 64.51, up 0.34% from its Wednesday’s close of 64.73.

The benchmark Sensex index rose 0.18% or 53.74 points to 30,355.38. So far this year, it has gained 14%.

So far this year, the rupee has gained 5%, while foreign investors bought $7.78 billion and $10 billion in local equity and debt markets, respectively.

Asian currencies were trading higher. South Korean won was up 0.78%, Malaysian ringgit 0.33%, Taiwan dollar 0.32%, China renminbi 0.3%, Thai baht 0.22%, Indonesian rupiah 0.17%, Philippines peso 0.14%, China offshore 0.11% and Singapore dollar 0.08%. However, Japanese yen was down 0.11%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.936, down 0.31% from its previous close of 97.351.

Commodity Market important Updates for 25 May 2017

Jeera trading range for the day is 17225-18225.Jeera prices ended with losses amid low domestic and exports demand at the spot market.The arrivals have now slowed downward in the physical market but the trade has been slow down. NCDEX recognised warehouses jeera stocks gained by 240 tonnes to 1833 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -33.35 Rupees to end at 18266.65 Rupees per 100 kg.

Turmeric trading range for the day is 5120-5552.Turmeric prices ended with losses amid weakness in spot demand due to supply pressure.At Nizamabad market, sources reported arrivals at 5000 quintals, down by 3000 quintals as against previous day.NCDEX accredited warehouses turmeric stocks gained by 30 tonnes to 6667 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5471.45 Rupees dropped -66.05 Rupees.

Soyabean trading range for the day is 2687-2803.Soyabean prices dropped due to reports of higher stocks of soybean with farmers and traders.Indias 2016-17 soybean sowing stood at 11.47 million hectare which resulted in output of 10.5 million tons of the seed.NCDEX accredited warehouses soyabean stocks dropped by 3092 tonnes to 112893 tonnes.At the Indore spot market in top producer MP, soybean dropped -32 Rupees to 2952 Rupees per 100 kgs.

Menthaoil trading range for the day is 931.5-978.3.Mentha oil spot at Sambhal closed at 1057.20 per 1kg. Spot prices was up by Rs.1.90-.Mentha oil prices ended with gains amid rising demand in the domestic spot market.Further, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh, too supported prices.As on now stock positions of Mentha in MCX accredited warehouses were around 3709 drums which is 36 drums less in comparison to previous day.

Aluminium trading range for the day is 124.6-127.4.Aluminium dropped LME prices gained 0.1 % to close at $1,945 amid deepening global shortage of aluminium.Moodys cited the growing leverage in China for the downgrade, and warned about slowing economic growth.New U.S. single-family home sales tumbled from near a 9-12-year higher in April, but the housing recovery likely remains intact amid a tightening labor market.

Nickel trading range for the day is 578.3-605.9.Nickel prices dropped below 590 level dragged downward by losses in steel and after China trade data showed a surge in ore imports from the Philippines.Lower Chinese steel and iron ore prices and a surge in Chinese nickel ore imports from the Philippines drove the nickel prices.A 4,128-tonne rise in on-warrant nickel at LME-registered warehouses to 269,808 tonnes helped drive prices down by signalling good supply.

Zinc trading range for the day is 168.6-173.4.Zinc dropped tracking LME prices dropped by 0.9 % low at $2,635 on concerns that slowing economic growth in China.This week zinc prices surged on the back of a sustained crackdown in Chinas polluting steel industry, which fuelled worries about supply.The global zinc markets fell into a deficit in March after surpluses in February, data from the International Lead and Zinc Study Group (ILZSG) showed.

Copper trading range for the day is 365.5-375.7.Copper prices sagged after Chinas credit rating was down graded by Moodys for the first time in nearly 30 years.Moodys said it expected the financial strength of Chinas economy to erode in the coming years as growth slows and debt continues to rise.Chinas imports of refined copper in April slid by 41 % from a year ago, as traders found their buying power crimped by tighter access to credit.

Naturalgas trading range for the day is 203.3-213.3.Natural gas settled below 209 level as updated weather forecasting models points to weaker demand for the fuel.Latest U.S. weather model called for mild temperatures over the next two weeks, which should reduce demand during that time. Prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on spring heating demand.

Crudeoil trading range for the day is 3286-3392.Crude oil prices retreated slightly after inventory data while traders awaited the outcome of discussions in Vienna.Crude inventories fell 4.4mbls in the week ended May 19, while Gasoline inventories fell only 787,000 barrels.OPEC scheduled to decide whether to extend an agreement to cut world supply. Last meet OPEC had cut supplies by 1.8mbpd, not can extend same.

Silver trading range for the day is 39314-40146.Silver dropped as investors looked ahead to minutes of Feds latest policy meeting due later in the global day for further hints on the timing of the next U.S. rate hike.U.S. home resales fell from a more than 10-year high in April, weighed downward by a chronic shortage of houses on the market that is keeping prices elevated.Feds Kashkari said while the U.S. economy is closer now than it was in March to full employment, he still does not know if we are there yet.

Gold trading range for the day is 28591-28821.Gold remained under pressure as investors awaited cues on the U.S. Federal Reserves rate hike stance from the minutes of its last meeting.Fed policymakers agreed they should hold off on raising interest rates until it was clear a recent U.S. economic slowdownward was temporary.WGC is making a case for a low tax structure for gold under the GST regime to ensure better transparency in the trade and to boost demand.

Top Stocks to be Focused for 25 May 2017

Mahindra & Mahindra: Stepping up its investment in electric vehicles, Mahindra & Mahindra on Wednesday announced the setting up of a new facility to make battery packs to power e-vehicles. Once completed, the plant at Chakan in Pune will help boost the company’s production of battery packs ten times from now.

Bharti AirtelBSE 0.08 %, Idea Cellular : The regulator rejected the telecom department’s call to reconsider its recommendation of fines worth Rs 3,050 crore on Bharti Airtel, Vodafone India and Idea CellularBSE 0.13 % for not providing adequate points of interconnect (PoIs) to Reliance Jio while stressing that it has the powers to suggest penal action on erring telcos in view of the larger public interest.

Earnings today: ArchiesBSE -0.53 %, Ashok LeylandBSE -0.12 %, Bajaj Hindusthan Sugar, Bosch, Butterfly Gandhimathi Appliances, CiplaBSE -0.89 %, Concor, GSPL, Indian Oil CorporationBSE 0.26 %, NMDCBSE 0.09 %, Timex, Va Tech WabagBSE 1.10 % and VST TillersBSE 2.89 % will announce their financial results for the quarter ended March 31, 2017 on Thursday.

Bharat Financial: Global brokerage house Credit Suisse upgraded Bharat Financial to ‘Outperform’ from ‘Neutral’ and also raised the target price to Rs 800 from Rs 760.

Adani Enterprises: The flagship firm of Adani Group on Wednesday posted a 60 per cent jump in its consolidated net profit to Rs 221 crore for the fourth quarter ended March on the back of higher contribution from coal trading.

Johnson Controls-Hitachi Air Conditioning: The company will develop and manufacture air-conditioners in India for sale in markets in the Middle East and South East Asia, expecting operations in the country to become one of its top three, global CEO Franz Cerwinka said.

Garware-Wall Ropes: Technical textiles manufacturer Garware-Wall Ropes (GWRL) reported 13.6 per cent growth in net profit after tax (PAT) at Rs 19.64 crore in the fourth of 2016-17. The company’s PAT stood at Rs 17.28 crore in the corresponding period of FY16.

GVK Power: The company’s standalone net loss widened to Rs 205.85 crore in the fourth quarter ended March 31, 2017. GVK Power’s net loss in the year-ago quarter was at Rs 105.59 crore.

Stock Market Headlines for 25 May 2017

Market Live: Sensex, Nifty open in the green, midcaps gain; pharma stocks tank
Trade Setup for Thursday: Top 10 things you should know
FII betting on leverage play! Top 10 stocks which have given up to 120% return in last 1 year
Any dips towards 9,300 is a buying opportunity; 4 stocks which can give up to 21% return
Wall Street rises, dollar falls on Fed minutes; oil retreats
Asian shares firm, dollar and US bond yields slip after Fed
Credit Suisse upgrades Bharat Financial to outperform, upgrades target price to Rs800
Stocks in the news: IOC, Cipla, Max Financial, Lupin, Dish TV, Jain Irrigation
Investors are turning away from gold and realty to invest into equities: HDFC AMC
Adani Ports’ Q4 net rises 29% to Rs 1,164 crore, EBITDA margin up at 69.1%
Bull’s Eye: Buy HPCL, Godrej Industries, Castrol; sell Dabur, Shriram Transport
Buy, Sell, Hold: Analysts are tracking these 5 stocks today
Lupin slips over 7%, hits fresh 52-week low; CLSA downgrades cuts target price
Bad loan classification: Videocon continues to bleed as its lower circuit again
US FDA accepts application for psoriasis drug: Sun Pharma
Public sector banks step up efforts to sell non-core assets
Tata Motors cuts up to 1,500 managerial jobs

Commodity Market important Updates for 24 May 2017

Jeera trading range for the day is 17710-18310.Jeera prices ended with losses amid lower domestic and exports demand at the spot market.Steady supply in the major spot market Unjha has kept the markets on the lower side.NCDEX accredited warehouses jeera stocks dropped by 390 tonnes to 1593 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -138.45 Rupees to end at 18300 Rupees per 100 kg.

Turmeric trading range for the day is 5336-5712.Turmeric prices ended with losses due to easing demand at the domestic spot markets. As turmeric sowing starts in June, early onset arrivals and better prospects for rains could be good for the crop sowing.NCDEX accredited warehouses turmeric stocks gained by 210 tonnes to 6637 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5537.5 Rupees dropped -6.25 Rupees.

Soyabean trading range for the day is 2745-2845.Soyabean prices dropped due to reports of higher stocks of soybean with farmers and traders.Soyabean prices also dropped by lower demand in spot markets as 60 percent of soybean mills in MP reported to have shut down.NCDEX accredited warehouses soyabean stocks dropped by 772 tonnes to 115985 tonnes.At the Indore spot market in top producer MP, soybean dropped -32 Rupees to 2984 Rupees per 100 kgs.

Menthaoil trading range for the day is 928.9-955.9.Mentha oil spot at Sambhal closed at 1055.30 per 1kg. Spot prices was up by Rs.2.80-.Mentha oil prices ended with losses amid muted demand in the domestic spot market. Further, ample stocks position on higher supplies from producing belts of Chandausi in Uttar Pradesh, too weighed. As on now stock positions of Mentha in MCX accredited warehouses were around 3709 drums which is 36 drums less in comparison to previous day

Aluminium trading range for the day is 123.8-127.8.Aluminium rallied to settle at 126.45 as support seen after dollar dropped after weakening US economic data.Support also seen after the speculation that new aluminum production capacity has been halted in China on air pollutionGovernment proposals to cut aluminum output later this year and plowed into the SHFE aluminum market driving up prices.

Nickel trading range for the day is 595.1-612.9.Nickel dropped as prices retreated tracking weakness in LME by 0.5 percent to close at $9,345 after Chinese ore imports surged 48 percent.Chinas Tangshan city launched a campaign to improve air quality, saying steel mills that fail to meet emission standards face suspension and heavy fines.Recovering ore exports from the Philippines were responsible for the bulk the April rebound.

Zinc trading range for the day is 169.5-174.1.Zinc prices ended with gains as support seen after imports rose from China underlining potential shortagesImports of refined zinc to China increased 21% in April to 47,469 tonnes yoy while shipments of ore and concentrates jumped 44%, customs data showed.Chinese government is moving to curb zinc production, as part of a drive to reduce pollution across the country.

Copper trading range for the day is 367.6-376.8.Copper gained as support seen after update workers at the giant Grasberg copper mine at Freeport McMoRan Inc will extend a strike for a second month.The global world refined copper market showed a 93,000 tonnes surplus in February, compared with a 55,000 tonnes surplus in January, the ICSG said.Hedge funds and other money managers increased their net long position in COMEX copper in the week ended May 16, U.S. CFTC data showed.

Naturalgas trading range for the day is 205.4-217.6.Natural gas dropped on longliquidation as traders monitored shifting weather forecasts to assess the outlook for demand and supply levels.Natural gas prices have closely tracked weather forecasts as traders try to gauge the impact of shifting outlooks on spring heating demand.Latest forecast calls for slightly higher than normal natural gas demand in the week ahead, appears to be already priced into the market.

Crudeoil trading range for the day is 3262-3386.Crude oil prices gained expectations of an extension to OPEC-led supply cuts and another drop in U.S. crude inventories.Saudi Arabia, favors extending the output curbs by nine months rather than the initially planned six months, as it seeks to speed up market rebalancing.U.S. crude oil inventories fell a less-than-expected 1.5 million barrels to 512.9 million barrels at the end of last week, the American Petroleum Institute (API) said.

Silver trading range for the day is 39367-40541.Silver pared gained amid growing expectations that Fed would increase its benchmark rate in June, which pushed the dollar off the lows, denting demand.A U.S. interest rate hike next month is a distinct possibility, the head of the Federal Reserve Bank of Philadelphia, Patrick Harker, said.Investor sentiment has been hit by fears that the U.S. political system could become engulfed by crisis, preventing lawmakers from pushing through tax or spending reforms.

Gold trading range for the day is 28654-29014.Gold prices settled flat pulling back from a three-week high, with dollar finding support as the euro weakened in the wake of terror attack.Minutes from the Feds most recent meeting will be due tonight which may deliver more guidance on the central banks plans for another rate hike.President Trump asked lawmakers to cut $3.6 trillion in government spending over the next decade, taking aim at healthcare and food assistance programs.

Top Stocks to be Focused for 24 May 2017

Future Retail: Future RetailBSE -1.56 % on Tuesday reported a 15 per cent increase in net profit at Rs 120.6 crore for the three-month period ended March 31. It had posted a profit of Rs 104.6 crore in the same period a year ago, the company said.

Voltas: Tata Group firm VoltasBSE 9.77 % reported a 22.06 per cent increase in consolidated net profit at Rs 200.47 crore for the fourth quarter ended March 31. It had posted a net profit of Rs 164.23 crore in the January-March quarter a year ago, Voltas said in a BSE filing.

IFCI: Term lender IFCI has reported a loss of Rs 318 crore for the three-month period to March due to significant jump in non-performing assets. It had posted a loss of Rs 101 crore in the corresponding January-March period of the preceding fiscal, IFCI said in a statement.

Tata Motors: The auto major on Tuesday reported a 16.79 per cent dip in the March quarter net at Rs 4,336.43 crore on a slowdown in domestic business, and terming FY17 as a year of “homemade misses”, promised to work on execution now on. The Tata Group company reported a 35 per cent dip in 2016-17 post tax profit at Rs 7,454 crore on a consolidated level. The total revenues moved up to Rs 15,206 crore in Q4 from the year ago’s Rs 14,258 crore on a standalone basis.

SBI: State Bank of IndiaBSE -0.61 % (SBI) is close to finalising a list of half-a-dozen banks to manage a share sale that it plans to raise as much as Rs 10,000 crore, three people familiar with the matter said.

Earnings today: Adani Ports, Alchemist, Kopran, Lupin, Somany Ceramics, PNC Infratech, Wonderla Holidays and Adani Enterprises will announce their financial results for the quarter ended March 31, 2017 on Wednesday.

GAIL: State-owned gas utility GAIL India said it has drawn up investment plans of Rs 30,000 crore for expansion.

Glenmark Pharma: Global brokerage house Morgan Stanley downgraded Glenmark Pharma to ‘Equal Weight’ from ‘Overweigh’ and cut the target price of shares to Rs 706 from Rs 1146.

JB Chemicals: JB Chemicals & Pharmaceuticals’ net profit fell 16.6 per cent to Rs 42.14 crore on 1.17 per cent fall in total income to Rs 319.02 crore in Q4 March 2017 over Q4 March 2016. Meanwhile, JB Chemicals & Pharmaceuticals board of directors has approved the buy-back of up to 12.50 lakh shares at Rs 400 per share for a total consideration not exceeding Rs 50 crore, through the tender offer route on a proportionate basis.

NCC: The company reported 26.11 per cent fall in net profit to Rs 63.71 crore on 13.54 per cent rise in total income to Rs 2,186.50 crore in Q4 March 2017 over Q4 March 2016.

Stock Market Headlines for 24 May 2017

Market Live: Sensex, Nifty trade steady, but market breadth favours declines; HDFC up 1%
Trade Setup for Wednesday: Top 10 things you should know
Asian markets open in the green; FOMC minutes, OPEC meeting in focus
Wall Street edges higher as investors assess Trump’s budget
Moody’s downgrades China rating over slowing economy, growing debt
PSU banks on brink of ticking off RBI. Find out which one needs corrective action
Tata Motors Q4: Net profit beats Street at Rs 4,296 cr, EBITDA at Rs 5,166 cr; JLR margin up 14.5%
Voltas Q4 net profit up 22% at Rs 200 cr
Don’t hold too much cash; 5 factors which can help you pick right stocks in a bull market: Kamlesh Rao
Stocks in the news: Lupin, Tata Steel, Videocon, NCC, Voltas, Cerebra Integrated
Buy, Sell, Hold: 2 stocks that analysts are watching post Q4 results today
Bull’s Eye: Buy Tata Steel, Concor, Siemens, Polaris; sell Bharti Infratel
Suzlon Energy eyes 40% market share, subsidiary IPO this year
Sign of caution? Top 20 stocks which fund managers exited in April
India Inc seals 252 M&A deals worth USD 15.8 bn in Jan-Mar: EY
SRF Q4 net profit up 16% at Rs 129 cr
Tata Motors cuts up to 1,500 managerial jobs
Five money mistakes millennials must avoid in their first job
Gold prices are expected to trade higher today: Angel Commodities

Commodity Market important Updates for 23 May 2017

Aluminium trading range for the day is 124.5-125.9.Aluminium settled flat as prices remained under pressure amid lack of stimulus from new capacity cut program.Global Aluminium production climbed during January to March this year by 7.2 per cent compared with the first three months of 2016.Chinese output was estimated at 8201 kilo ton and this currently accounts for just under 56 per cent of the world production total.

Nickel trading range for the day is 598.6-612.2.Nickel prices gained on the back of a sustained crackdown in Chinas polluting steel industry, which fuelled worries about steel supply and lifted the prices.Chinas Tangshan city launched a campaign to improve air quality, saying steel mills that fail to meet emission standards face suspension and heavy fines.The Flash MarkitNikkei Japan Manufacturing PMI fell to 52.0 in May on a seasonally adjusted basis, from a final 52.7 in the previous month.

Zinc trading range for the day is 168.4-171.6.Zinc gained on fresh buying as prices gaining support from falling stocks in LME-approved warehouses and dollar weakness.Shanghai zinc surged on the back of a sustained crackdown in Chinas polluting steel industry, which fuelled worries about supply.Chinas economy will likely expand around 6.8 percent in the second quarter of 2017, the State Information Center said.

Copper trading range for the day is 366.3-374.3.Copper gained as support seen after dollar slipped to a more than six-month low on Monday, weighed down by an uncertain U.S. political climate.Soothing regulatory comments and the Peoples Bank of Chinas cash injection offset worries over tighter banking regulations and economic growth.Freeport McMoRan mine will extend a strike for a second month, a union official said in an ongoing dispute over employment terms and layoffs.

Naturalgas trading range for the day is 210.6-216.8.Naturalgas gained after warmer than normal weather is now forecast in United States which will increase cooling demand.Natural gas prices are largely tied to weather forecasts, and the latest forecast from natgasweather.com is supportive of higher prices.Stockpiles held in underground storage in the lower 48 states rose by 68 billion cubic feet (Bcf) for the week ended May 12, 2017

Crudeoil trading range for the day is 3270-3350.Crude oil gained more than 1% as support seen on the combination of optimism surrounding this weeks OPEC meeting and a generally stronger Euro tone.Prices getting support from expectations that OPEC would extend its production cuts for a further nine months at its meeting on May 25th.NYMEX open interest was at another one-year high which indicates that overall market volatility is likely to remain at elevated levels.

Gold & Silver Updates For 23 May , 2017

Silver trading range for the day is 38842-40436.Silver prices ended with gains as investors continued to assess the impact of the latest bout of U.S. political turmoil.Feds expected plans for rate increases may be too fast for an economy that has shown recent signs of weakness, Feds James Bullard said.In the week ahead, investors will be looking at Wednesdays Fed meeting minutes for fresh indications on the possible timing of the next U.S. rate hike.

Gold trading range for the day is 28480-28952.Gold prices gains amid ongoing political worries surrounding U.S. President Donald Trump that are expected to keep weighing on the dollar.Feds Williams: Concerned about losing progress weve made on financial regulation. Expects continued U.S. economic, job growth.Hedge funds and other money managers cut their net long position in COMEX gold for the third week, taking it to a two-month low, CFTC data showed.

Top Stocks to be Focused for 23 May 2017

Tata Power: The company on Monday said total generation from all its power plants crossed 52,000 million units last fiscal. Its consolidated generation through all subsidiaries stood at 52,512 million units (MUs) in 2016-17 as compared to 47,347 MUs in the previous fiscal.

Bharti Airtel, Idea Cellular: Reliance Jio has filed a complaint with the telecom ministry alleging that incumbents Bharti Airtel, Vodafone and Idea did not deposit requisite licence fee in March, which led to a potential loss of Rs 400 crore to the government.

Kotak Mahindra Bank: Kotak Mahindra Bank founder Uday Kotak sold 1.80 crore of the bank’s shares in the open market, enabling him to comply with the Reserve Bank of India direction to reduce his stake in the private sector lender to less than 30 per cent.

PTC India Financial ServicesBSE 0.86 % (PFS): The company has reported a 124 per cent rise in standalone net profit to Rs 110 crore for fourth quarter ended March 2017. The company’s profit after tax or net profit during similar quarter of previous fiscal was at Rs 49 crore.

Den Networks: Broadcasting and cable TV service provider Den NetworksBSE -9.60 % on Monday reported narrowing of consolidated net loss at Rs 60.55 crore for the fourth quarter ended March 31. The company had posted consolidated net loss of Rs 210.30 crore in the January-March quarter of the previous fiscal, Den Networks said in a BSE filing.

Ruchira Papers: Kraft Paper manufacturer Ruchira PapersBSE -3.29 % reported an over two-fold jump in net profit at Rs 9.26 crore for the March quarter. The company had reported a net profit at Rs 4.03 crore in the corresponding quarter of last fiscal, Ruchira Papers said in a statement.

Karnataka Bank: Country’s largest insurer LIC has inked a pact with private sector Karnataka BankBSE -1.50 % to sell its insurance policies at the latter’s branches. An agreement was signed on Monday between Life Corporation of India (LIC) and the bank for selling life insurance products of the former, Karnataka Bank said in a statement.

Corporation Bank: Public sector lender Corporation BankBSE -1.59 % said its board has approved plans to raise capital up to Rs 3,500 crore.

Earnings today: Tata MotorsBSE -0.61 %, Jindal Steel and PowerBSE -1.14 % (JSPL), Subros, Sahara One Media & Entertainment, Jubilant LifeBSE -2.10 %, Kolte Patil and ION ExchangeBSE -0.84 % will announce their financial results for the quarter ended March 31, 2017 on Tuesday.

IDBI Bank: Two major unions — All India Bank Employees’ Association (AIBEA) and All India Bank Officers’ Association (AIBOA) — will chalk out separate agitation and strike programmes in support of early wage revision in IDBI Bank, the unions said. Employees of IDBI Bank will strike work on Tuesday demanding wage revision.

Stock Market Headlines for 23 May 2017

Market Live: Sensex, Nifty open absolutely flat, pharma stocks crack
Trade Setup for Tuesday: Top 10 things you should know
Sign of caution? Top 20 stocks which fund managers exited in April
Asian markets trade sideways following Wall Street gains
Wall Street ends up; defence, tech stocks a boost
Nifty likely to retest 9400; 3 stocks which are likely to give up to 4% return this week
Don’t hold too much cash; 5 factors which can help you pick right stocks in a bull market: Kamlesh Rao
What should investors do with Nifty this week– buy on dips or sell on rallies?
Bull’s Eye: Buy Marico, JSW Energy, Ajanta Pharma, JB Chemicals; sell NCC
FMCG, power, dairy among top 5 sectors likely to gain from GST: Axis Securities
Stocks in the news: Tata Motors, Voltas, Godrej Industries, MEP Infra, VST Tillers
What should investors do with SBI shares — Buy on dips, book profits or exit?
Buy, Sell, Hold: Here are 3 stocks that analysts are tracking today
Acche din abhi baaki hain! D-Street prepares for Modi 2.0; Nifty to hit mount 14K in 2 years: Poll
Adani defers Australian coal project investment decision
Aiming for double-digit revenue growth; plan ad spends of Rs 100 cr: Just Dial
Macquarie Cap Securities expects things to be much uglier for banking sector in FY18
Aviation stocks have a hard landing post GST developments, oil prices
Gold prices are expected to trade sideways today: Angel Commodities

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