Morning Business News Round up_December 31, 2015

Morning Business News :

  • Windfall Awaits Oil Cos As Under-Recoveries To Dip
  • Govt Fears Rs 50K Cr Shortfall In Divestment Proceeds
  • Demand For Big Oil Ships Up On OPEC Output Limit Ban
  • Rcom, Aircel To Pare Debt To Rs 20,000 Cr Ahead Of Merger
  • Government Calls Off Fourth Round Of Coal Block Auctions
  • Civil Aviation Policy To Come For Cabinet Nod In January
  • IT Dept Publishes Names Of 18 Defaulters Owing Over Rs 1,100 Crore
  • Sebi To Seek Report From Commexes And Traders On IT Raids
  • Prakash Steelage To Sell 12.47% More Stake In JV To Tubacex Of Spain
  • Balco Unions Petition PMO To Bail Out Struggling Aluminium Industry
  • Tata International Plans To Widen Agri-Business In Africa
  • IDFC Bank To Turn ₹350-Cr Lanco Infra Loans To Ccds
  • Essar Oil Creates History With Largest Delisting, Offers Rs262.80/ Share

  • Dr Reddy’s Relaunches Nexium Generic In The US Market
  • Experts Hopeful Of Better Times For Investors In 2016
  • India Mobile Phone Subscribers Cross 1 Billion, Shows Trai Data
  • Companies Raised Rs68,608 Crore Through Capital Markets During 2015
  • JMT Auto Promoters Pledge Shares To IL&FS Trust
  • Trai Extends Deadline For Comments On Net Neutrality Issue
  • Govt To Spend Rs5,000 Crore For Solar Rooftop Systems
  • India Needs To Increase GDP Growth Rate By At Least 1-1.5%
  • Indian IPOs Set To Raise Over $5 Bn In 2016, A Six-Year High
  • GAIL In Talks With Golar LNG For Shipping US Gas
  • Sensex Snaps 2-Day Winning Streak, Ends 119 Points Down
  • Gold Prices Poised To End Lower For A 3rd Time In A Row
  • Sebi To Finalise Crowd-Funding Norms In A Few Months
  • BSE’s MF Platform To Accept Orders 24×7 From January
  • Tax Appeal Before Commissioners Must Be E-Filed
  • Norway-Based SINTEF To Help In Recycling Construction Waste

Today’s Wealth Mantra !

“The stock market is filled with individuals who know the price of everything, but the value of nothing.”

– Phillip Fisher


Weekly Outlook ( Crude, Nifty, Banknifty)


NSE NIFTY 24SEP2015_Daily_1Year

After a steep fall, price took support at falling support line and moved high near falling resistance line. We assume next week would be more volatile than the previous one because of the the Fed meeting. Looking, at the technical picture we assume above 7890-7900 NIfty might rise till 8040 and below 7740 next move till 7640. Overall , we are bearish.


NSE BANKNIFTY 24SEP2015_Daily_1Year


After a steep fall, price took support at falling support line and moved high near falling resistance line. We assume next week would be more volatile than the previous one because of the the Fed meeting. Looking, at the technical picture we assume above 17100 would act as a rock solid resistance with overall negative tone till 16000-15700.



MCX CRUDEOIL 21SEP2015_Daily_1Year


Last week was a volatile for the Crude price. After moved high by 10 % price moving in a sideways and forming a bullish flag which is perfectly backed by the volumes. But this pattern would be negated if it goes below 2870 levels. Hence we advise to go long till 3180-3240 near 2970-40.


Morning Business News Round up_September 11, 2015

Morning Business News :

  • Global Economic Turmoil Will Not Hit India: Finance Ministry Panel
  • Spectrum Trading May Curb Excessive Bidding: Fitch
  • Gold Monetisation Scheme: 2% Interest Likely On Gold Deposits
  • Satyam Scam: Sebi Asks Raju Family, Others To Return Rs 1,800 Cr
  • Rbi Purchased $4.6 Billion In The Forward Markets In July
  • Rcom-Sistema Deal May Cost $600 Million Extra
  • Infosys To Be Global Tech Services Partner For Atp
  • Care Downgrades Rs 100 Crore Hindustan Organic Bond To Junk Status
  • Rbi Allows Importers To Raise Trade Credit In Rupee


  • Ril’s Start-Up Hub Fall 2015 Batch Includes Two Israeli Start-Ups
  • Rbi Intervenes More Through Forwards In Foreign Exchange Market
  • Tata Motors, Total Lubrifiants Sign Pact For Lubricants Supply
  • Vedanta Aluminium Goes On Workforce Reduction, Cost Cuts
  • Lenders Order Special Audit Of Amtek Books
  • Centre May Hold On To Hzl-Balco, Suuti Stakes In Foreseeable Future
  • Canada To Invest Pension Funds In India’s Urban Development
  • Make Govt Auditor Part Of Legislature, Amend Act: Pacs
  • India Keeps Its Fingers Crossed As Superpowers Toss And Turn
  • Tata Steel Begins Coke Production At Kalinganagar Plant
  • G20 Tightens Norms To Check Conflict Of Interest For Fiis
  • Winter Session Could Be Advanced To Pass Gst Bill: Venkaiah Naidu
  • Saudi Aramco To Open Office In India For Crude Sales: Report
  • Delhi Hc Refuses To Interfere In Ongc-Ril Gas Dispute
  • Bpcl To Invest Rs1 Trillion For Its Next Phase Of Growth
  • Sun Pharma Planning To Divest Ireland Plant To Cut Costs
  • Castex Technologies Allots Shares On Fccb Conversion
  • Govt Clears Rs9,000 Crore Teesta Hydropower Project In Green Energy Push
  • Sensex Ends 97 Points Down On Weak Global Cues, Nifty Settles At 7,788
  • Hero Motocorp Plans Manufacturing Units In Mexico, Argentina, Brazil
  • Arvind Panagariya Pitches For Up To 1% Rate Cut By Rbi
  • Domestic Car Sales Rise 6% In August, Bike Sales Drop 9.59%
  • Cairn Energy Set To Go To Icj Against India
  • Raymond Acquires Robot Systems For Rs 28 Crore
  • Inflation To Ease In Aug, July Industrial Output To Be Stable
  • L&T Gets Shareholders’ Nod For Raising About Rs 9,600 Cr
  • Mauritius Utilises India’s Security Concerns To Retain Tax Arrangement
  • Mfs Invest Rs 4,200 Cr In Equities So Far In Sep
  • Indigo’s Profit Up Four-Fold To Rs 1,304 Crore In Fy2015
  • Suven Life Gets Patents For Neurodegenerative Drug


Morning Business News Round up_September 10, 2015

Morning Business News :

  • Wall St Jumps 2 Per Cent As China Gains Fuel Global Rally
  • Indian Economy Sees ‘Firming Growth’, Says OECD
  • EU Approves GE’s Alstom Buyout, With Conditions
  • India’s Diamond Industry Hit By Falling Chinese Demand
  • Hindustan Unilever To Sell Modern Bakery
  • BSE Streamlines OFS Bidding Process For Investors
  • Cabinet May Decide On FDI Route For White Label Atms
  • India To Grow At 7% In FY15, CAD To Remain Low: Moody’s
  • NPA Crisis To Continue For Another Two-Three Years: E&Y Survey
  • Raghuram Rajan Meets DEA Secy; Discusses Macro Issues
  • PM Asks Industry To Take Risk, Boost Investments; India Inc Wants Rate Cut
  • Govt Considers Safeguard Duty On Steel After Import Surge
  • Marble Importers-Hawala Operators Nexus Alerts Finmin
  • FTIL Case: CLB Adjourns Hearing To Sept 21
  • India Inc Pitches For Strong Dose Of Monetary Easing To Boost Economy
  • Units Using Hazardous Chemicals Must Take Insurance
  • Commexes’ Turnover Jumps 17.55% To Rs. 29 Lakh Cr In April-August
  • Pipavav Shipyard Faces Opposition From Vendors Over Dues
  • Gold Continues To Be Highly Productive Portfolio Asset


  • Mahindra Said To Be Close To Purchase Of Pininfarina
  • FII Outflows: India Behind Only Japan, South Korea In Asia
  • Hindalco Says Aluminium Prices Seen Rising Next Year On China Boost
  • Adani’s Deal With Avantha For Korba May Fall Through
  • IVRCL To Sell Rs1,000 Crore Assets To Pare Debt
  • Real Estate Slowdown Takes A Toll On Domestic Steel Industry
  • Sensex Closes 424 Points Up As PM Meets India Inc Over Global Economic Turmoil
  • JSW Energy Buys Jaiprakash Power Assets For Rs 9,700 Cr
  • China Exports Fall 6.1 Per Cent, Import Tumbled By 14.3 Per Cent
  • Swiss Govt Discloses New Name In Black Money Probe
  • India Begins Probe To Impose Safeguard Duty On Steel Imports
  • India Needs To Create Jobs For Rapid Pace Of GDP Growth
  • Three Foreign Funds Eject Before Amtek Auto Crash
  • US Govt Finds No Violations In H1-B Visa Case: Infosys



FAQs_Gold Global Contract

FAQs :

♦ What is GOLDGLOBAL contract ? 

 It’s a new contract launched by MCX, which is simple multiplication of international gold prices into INR.

♦ How it is different from regular Gold (1 kg) contract? 

 No delivery, No Custom duty, lower lot size (200 grams), settlement process are main difference between Gold and Gold Global contract.

♦ How it is useful? 

 For arbitrage between Gold and Gold Global, Gold and Gold mini etc..

For hedging of Import and export.

For traders, it will be low cost.

Spread between different contracts of MCX Gold e.g. Regular and global, Mini and global, guinea and global, petal and global.

♦ Is there any margin benefits for Gold Global? 

 Yes. The spread margin benefits of upto 75 % is applicable for gold and goldglobal.

♦ Why arbitragers should participate in goldglobal? 

 They will be able to save upto 250% of margin. Because margin of international and currency hedge will not be required and mcx margin will also be half.

♦ What is the broker’s benefits from goldglobal? 

 They can get NEW set of clients those who are doing arbitrage /BADLA business, those who are financial investors and do not want delivery, they can also motivate GOLD MINI clients for Goldglobal (it will double the brokerage).

♦ What is the benefits for Clients? 

 They will get opportunity to trade in international prices into INR.

Spread opportunity.

Lower cost.

No delivery.

No roll over tension.

No need to track custom duty.

No need for separate Rupee hedge.

Gold (1 kg) clients can trade at 5 different prices taking benefits of average.

♦ What is GOLDGLOBAL formula for conversion? 

 Goldglobal = {Gold international prices in dollar *(995/999) *0.321507425 *INR.

♦ What is GOLDGLOBAL expiry date?  

 It’s similar to currency futures expiry date but every alternate month in line with regular Gold (1 kg) contract.

♦ How the DDR will be calculated on expiry? 

 It will be international gold prices multiply by RBI reference rate on that day.


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