Lead futures were trading lower during the evening trade in the domestic market on Friday as investors and speculators trimmed their bets in the industrial metal amid decline in physical demand for lead, from battery-makers, in the domestic spot market. Further, decrease in demand from battery makers in the spot market and offloading of positions due to expiry influenced lead prices at futures trade
Crude oil futures fell during the afternoon trade in the domestic market on Friday as participants exited positions in the energy commodity amid fears that a slowing global economic recovery may exacerbate a global supply glut in crude and refined products. While Goldman Sachs said this week that it doesn’t expect a recovery in oil prices in the near-term, US inventories of crude oil rose for the first time in ten weeks and production too climbed, signaling a bearish outlook for the fuel.
Copper futures were trading lower during the afternoon trade in the domestic market on Friday as speculators trimmed their positions in the industrial metal amid fall in demand at the domestic spot markets. The prices of copper declines at futures trade led by a weak trend in base metals at the spot markets due to muted demand from consuming industries
Copper futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid doubts surrounding the health of the US economy as a regional factory gauge returned to contraction and unemployment claims climbed, dimming the demand prospects for the metal.The number of Americans who filed to claim jobless benefits rose by 14,000 to 266,000 in the week ended July 23 while a gauge measuring manufacturing activity in the Kansas region fell to -6 in July from 2 in June, with a reading below 0 signaling contraction.
Natural Gas futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking weakness overseas where prices fell on profit taking after a stellar rally in the previous session. The fuel had rallied 8 per cent in the international market on Thursday after a smaller than expected build in US storage levels signaled a pickup in demand for the fuel in the world’s biggest gas consuming nation.
The EIA reported that US gas supplies increased by 17 billion cubic feet to 3.294 trillion cubic feet in the week ended July 22, 2016, against an expected increase of 26 billion cubic feet, while stockpiles rose by 34 billion cubic feet in the prior week, 49 billion cubic feet a year earlier with the five-year average gain at 52 billion cubic feet.
Cardamom futures jumped by more than 1 per cent during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom in the domestic spot market.Further, restricted supplies amid lower physical arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
Mentha oil futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil from major consuming industries in the domestic spot market.Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
Gold futures were trading higher during the noon trade in the domestic market on Friday as traders widened their bets in the precious metal tracking positive cues from global markets. Traders indulged in widening their positions following a better trend in global markets after the US Fed reiterated a gradual approach to raising interest rates, sending the dollar lower thus raising demand for safe haven assets, buoyed the upside in gold futures.
Gold futures were trading higher during noon trade on Friday after the Bank of Japan decided to expand its ETF program to 6 trillion yen annually, but left its target for annual government bond purchases unchanged at 80 trillion yen and maintained its policy rate at the same level, curbing gains in the precious metal, a hedge against the inflationary risk of monetary stimulus. Despite a cautious move on the stimulus front by the apex bank, the Bank of Japan highlighted downside risks to the Japanese economy, signaling that more stimulus could be on its way, if needed. The focus has also turned to US Q2 GDP data with growth expected to come in at 2.6 per cent annualized rate.
S P Apparels fixes IPO price band at Rs 258-268
S P Apparels Ltd, manufacturers and exporters of knitted garments for children, has fixed a price band of Rs 258-268 per equity share for its proposed initial public offer (IPO) that seeks to raise around Rs 215 crore,
"The company has fixed the price band from Rs 258 to Rs 268 per equity share consisting of a fresh issue of equity shares aggregating up to Rs 215 crore and an offer for sale of up to 9,00,000 equity shares by New York Life Investment Management India Fund (FVCI) II LLC, the selling shareholder," S P Apparels Chairman and Managing Director P Sundararajan told reporters.
The offer opens on August 2 and closes on August 4.
The Tiruppur-based company currently operates through 21 manufacturing facilities in Tamil Nadu. For fiscal year 2016, the company exported approximately 35.98 million pieces of knitted garments for infants and children directly to international customers, including TESCO and Primark.
The IPO is managed by Motilal Oswal Investment Advisors Private Limited and Centrum Capital Limited.
The equity shares offered through the IPO are proposed to be listed on BSE and NSE.
Does a high interest rate offered on a fixed deposit represent a good investment?
The interest rate that is offered on a fixed deposit by the borrowing institution helps provide an insight into the position of the entity. If the financial condition is very strong then the institution can raise funds by offering a low rate while a high rate has to be offered to the investors to get them to consider the investment given the slightly higher risk involved.
Yes, FD can be closed before the original term of the FD. In the event of the Fixed Deposit being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank. In case of premature withdrawal the deposit may be subject to penal rate of interest as prescribed by the Bank on the date of deposit.
Yes, you can. Most banks offer a loan against FD. By using the fixed deposit as a collateral for the loan you can get a loan at lower rates. The rates are usually pegged at a few percentage points higher than the fixed deposit. Usually banks advance up to 90% of the fixed deposit being held in a loan.
At what frequency will I receive interest on my FD?
For the Traditional scheme, the interest on the FD account is credited to the Savings account specified by you on a monthly basis or on a quarterly basis. For the Reinvestment scheme, the interest is compounded to the principal amount on a quarterly basis.
Are the interest rates for all the banks the same?
Each bank or financial institution that is offering fixed deposits fixes its own deposit rates. The deposit rates depend upon the financial position of the bank and the conditions that impact the fundraising for the institution.
Are banks the only institution that offers fixed deposit?
There are many other institutions apart from banks that offer fixed deposit investment options for investors. Within the banking family there are public sector banks, private sector banks as well as co-operative banks with whom a fixed deposit can be made.