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HCL Technologies and Cherwell Software, LLC announced a product platform that layers the DRYiCE GBP on the Cherwell Service Management platform.

The share price of HCL Technologies touched a 52-week high of Rs 1,171.95, rising 3 percent intraday Tuesday after the company entered into a partnership with Cherwell Software.


HCL Technologies and Cherwell Software, LLC announced a product platform that layers the DRYiCE GBP (Gold Blue Print for Service Management) on the Cherwell Service Management platform, company said in BSE release.

HCL Technologies’ process simplifies IT service design and management for customers, while Cherwell’s low-code platform offers the easy customization of new IT services and the extension of digital services beyond IT, company added.

Kalyan Kumar, Corporate Vice President, and CTO-IT Services at HCL Technologies said, “We are pleased to offer Cherwell’s advanced service management platform for delivery within our industry-leading ITSM process ecosystem with DRYiCE GBP and also provide our customers with rapid flexibility and choice to deploy the product on a codeless platform."

At 11:22 hrs HCL Technologies was quoting at Rs 1,168.90, up to Rs 31.10, or 2.73 percent on the BSE.

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Just 0.02% (4,800) of all new cars sold in India in 2016 were electric

The 2018 edition of Auto Expo showcased some 50 electric vehicles (EVs), reflecting the buzz created by the government’s proclaimed intention to sell only electric cars by 2030, to both reduce vehicular pollution and curb India’s dependence on petroleum product imports.

The displays signalled the industry’s capability and eagerness to tap this new market. Just 0.02% (4,800) of all new cars sold in India in 2016 were electric. In contrast, as many as 2.5 million conventional cars are sold every year, and a matching sales figure for EVs hints at a huge market.

Based on road transport minister Nitin Gadkari’s announcement that a policy dedicated to promoting and regulating EVs was in the works, EV manufacturers and sellers were expecting a policy and regulatory framework laying out a roadmap for creating an ecosystem comprising, most importantly, charging stations, as well as rolling out incentives for both manufacturing and purchasing EVs.

On February 16, 2018, the heavy industries ministry issued a draft National Auto Policy for discussion, acknowledging the importance of green mobility but referring to EVs as just one among several alternatives such as vehicles run on biofuels, CNG and hydrogen. No specific timelines for targets, infrastructure building and incentives for any of these were outlined, and, most worryingly for EV makers, no plans were specified for aligning India’s flagship EV programme, Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME), with the overall electric vehicle vision or with the domestic manufacturing programme, Make in India.
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The aluminum futures contract on the Multi Commoaluminumange (MCX) fell breaking below the crucial support level of ₹135 a kg last week.


However, the contract failed to sustain lower and reversed sharply higher after making a low of ₹135.5 on Wednesday. The strong upwards reversal from the low of ₹135.5 suggests that the contract lack fresh sellers to drag it strongly below ₹137. It also indicates that the contract attracts fresh buying interest at lower levels.

The contract is currently trading at ₹141 per kg. The near-term outlook is positive. Immediate resistance is at ₹143 which is likely to be tested in the near-term. Inability to break above ₹143 can drag the contract lower towards ₹140 or even ₹137 again.

But, if the contract manages to break above ₹143 in the coming days, it can move further higher to test the next crucial resistance levels of ₹145 and ₹146. A strong break above ₹146 is needed for the contract to gain fresh momentum. Such a break will increase the likelihood of the contract targeting ₹150 over the medium-term.

On the other hand, the outlook will turn negative only if it breaks and closes decisively below ₹137. Such a break will increase the likelihood of the contract tumbling towards ₹133 on the back of profit-booking.

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Oil markets were split on Tuesday, with US crude was pushed up by reduced flows from Canada while international Brent prices eased. US West Texas Intermediate (WTI) crude futures were at $62.16 a barrel at 0153 GMT, up 48 cents, or 0.8 percent, from their last settlement.


Traders said the higher WTI prices were a result of reduced flows from Canada's Keystone pipeline, which has been operating below capacity since late last year due to a leak, cutting Canadian supplies into the United States.

Outside North America, Brent crude eased on the back of a dip in Asian stocks and a stronger dollar, which potentially curbs demand as it makes fuel more expensive for countries using other currencies domestically. Brent crude futures were at $65.23 per barrel, down 44 cents, or 0.7 percent, from their last close.

Despite this, oil markets remain well supported due to supply restraint by the Petroleum Exporting Countries (OPEC), which started last year in order to draw down excess global inventories. OPEC Secretary-General Mohammad Barkindo said on Monday the organization registered 133 percent compliance with agreed output reduction targets in January.

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Silver futures were trading higher during the afternoon trade in the domestic market on Friday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade.


At the MCX, silver futures for March 2018 contract was trading at Rs 38844 per kg, up by 0.87 per cent, after opening at Rs 38,693, against a previous close of Rs 38,509. It touched the intra-day high of Rs 38,870.

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The price of standard gold (995 purity) moved up by Rs 70 to open on Friday at Rs 30,645 per 10 grams in the popular Zaveri Bazaar in Mumbai


Gold prices on Friday jumped 0.23 percent in Mumbai to hit the highest point in about 15 months since demonetization in November 2016.

The price of standard gold (995 purity) moved up by Rs 70 to open at Rs 30,645 per 10 gm in Zaveri Bazaar. In November 2016, bullion was traded at Rs 30,600 per 10 gm in official transactions. Unofficially, however, gold was traded even at Rs 45,000 per 10 gm.

The movement in gold prices in India is largely dominated by fluctuations in world markets. In the benchmark London spot market, gold was trading at $1,361 an ounce (28 gm) in early trade on Friday afternoon. This is the highest level since August 2016.

Investors are booking gold after the collapse of cryptocurrencies such as bitcoin.

“There has been a confluence of factors supporting the rise in gold prices, which remained low for more than a year. The US interest rate hike, which kept gold prices subdued over the last one year, has started working in its favor due to inflationary pressure.

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Profit margins of tyre manufacturers improved during the December quarter


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After a marginal recovery in the December quarter, profit margins of tyre manufacturing companies are likely to remain under pressure for the next six months due to rising prices of rubber and crude oil derivatives used for synthetic rubber and other raw materials.

Tyre companies led by Apollo Tyres reported a 17 percent year-on-year (y-o-y) jump in consolidated revenue to Rs 40.50 billion, supported largely by a nearly 50 percent yoy growth in the tree-born rubber (TBR) volume due to increasing radicalization and imposition of anti-dumping duty on Chinese tyres.

Consolidated EBIDTA (earnings before interest, debt, tax, and amortization) margins of Apollo Tyres jumped by 180 bps (basis points) on a quarterly basis to 12.3 percent on lower commodity prices and better scale.

Profit margins of tyre manufacturers improved during the December quarter when compared to the September quarter, despite rising prices of crude oil and its derivatives.
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The Cotton Association of India (CAI) has, in its latest estimate, lowered the crop size by 8 lakh bales (of 170 kg each) to 367 lakh bales against the earlier estimate of 375 lakh bales.

For the 2017-18 season, beginning from October 1, 2017, the CAI reduced the crop estimate to 367 lakh bales citing severe infestation of cotton with pink bollworm.

“In accordance with the advice of the scientists, farmers in several areas, particularly in Maharashtra and Telangana, have uprooted their cotton crop without waiting for further pickings,” the CAI said in a statement issued on Friday.

The projected balance sheet drawn by the CAI estimated total cotton supply for the season at 417 lakh bales including an opening stock (or carryover stock) of 30 lakh bales at the beginning of the season and the imports, which the CAI estimated, at 20 lakh bales.

The domestic consumption is pegged at 320 lakh bales, while exports for the season are seen at 55 lakh bales.

The carryover stock at the end of this season on September 30, 2018, is estimated to be 42 lakh bales.
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State govt working to bring one crore acres of barren land under irrigation


The Telangana Government is going to issue patta passbooks to about 72 lakh farmers on March 11. Addressing the inaugural of the CII Agritech South 2018 here on Friday, Pocharam Srinivas Reddy, Minister for Agriculture and Cooperation, said the State Government was working to bring one crore acres of barren land under irrigation. “We will provide enough water there to grow two crops a year,” he said.

He said the State Government had built additional warehousing capacity of 18 lakh tonnes in the last four years. Asking the farmers to go for organic farming and reduce usage of pesticides, he said there should be concerted efforts to ensure an income of Rs 50,000 an acre.

The Confederation of Indian Industry’s Southern Region and the State Government are organizing the three-day exhibition and two-day conference at Prof. Jayashankar Telangana State Agricultural University here.

Ramesh Datla, Chairman of CII’s National Committee on Water, said there was a need to focus on improving the income of farmers and value addition to the farm produce.

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local sugar prices have fallen 17 percent since the start of the marketing year on Oct 1, making it difficult for the mills to make payments


India's second-biggest sugar producer Maharashtra plans to buy a quarter of the state's output to arrest falling prices for the sweetener, a state minister told Reuters, a move that would require $1 billion and leave mills to cover storage costs.

The government purchase plan - which the state would need to approve in the next cabinet meeting - would help Maharashtra sugar mills pay dues to sugarcane farmers that have risen to more than Rs 30 billion ($470 million).

"We are planning to buy 25 percent of the sugar production of each mill.

The government buying will reduce availability at the market and prices could rise," said Subhash Deshmukh, the cooperation and marketing minister for the state government.

India, the world's second-biggest sugar producer, requires mills to pay cane farmers within two weeks of harvest. Last year, the mills agreed to pay farmers 11 percent more for their cane for the 2017/18 marketing year than in the previous year.

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अमेरिका के शेयर बाजार सोमवार को बड़ी गिरावट के साथ बंद हुए। अमेरिकी शेयर बाजार में अगस्त 2011 के बाद आई यह सबसे बड़ी गिरावट है। सोमवार के कारोबारी सत्र में डाओ जोंस 1,175.2 अंक यानी 4.6 फीसदी की भारी गिरावट के साथ 24,345.75 के स्तर पर बंद हुआ। एस ऐंड पी 500 स्टॉक इंडेक्स 3.8 प्रतिशत और नेस्डेक 3.7 प्रतिशत की गिरावट के साथ बंद हुए है। अमेरिकी बाजार अपने शिखर से 7 प्रतिशत से ज्यादा गिर चुके हैं। भारतीय बाजार पर भी इसका असर पड़ने की आशंका है।


बाजार की हालत देखते हुए वाइट हाइस ने भी बयान जारी किया। वाइट हाउस ने कहा, 'हमारी चिंता हमेशा बनी रहती है। खासकर जब बाजार के किसी भी मूल्य में गिरावट दर्ज होती है, लेकिन हमें अपनी अर्थव्यवस्था की बुनियादी बातों में भी पूरा विश्वास है।' 

बता दें कि 2008 के वित्तीय संकट के दौरान डाओ जोन्स 777 अंक गिरा था। डाओ जोन्स और ऐस ऐंड पी 500 इंडेक्स ने अगस्त 2011 के बाद की सबसे बड़ी गिरावट दर्ज की। महंगी बॉन्ड यील्ड ने निवेशकों की नींद उड़ा दी है। अमेरिका में बॉन्ड यील्ड 2.88 फीसदी तक पहुंच चुकी है। 

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BSE had sought clarification from PC Jeweller earlier in the day with reference to decrease in price


Shares of PC Jeweller came under heavy selling pressure on Friday, crashing nearly 60 percent in intra-day trade, but later recovered most of the lost ground after management's commentary that "the fundamentals of the company remain strong".

The stock faced severe drubbing amid sharp fall in the shares of Vakrangee Ltd, which had purchased shares of PC Jeweller late last month.

The stock of PC Jeweller tanked 24.40 percent to end at Rs 365.60 on BSE. During the day, it plummeted 59.65 per cent to Rs 195.10.

On NSE, shares of the company plunged 24.78 percent to close at Rs 364.25.

The company's market valuation also fell by Rs 46.5 billion (Rs 4,653.37 crore) to Rs 144.17 billion (Rs 14,417.63 crore).

"Promoters have not sold any shares.

Our fundamental is strong," PC Jeweller, MD, Balram Garg told PTI.

Asked whether scrip has fallen due to the acquisition of shares by Vakrangee, Garg said, "We have not sold any shares to them. Vakrangee has bought from the secondary market and how can we stop it."

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The price of new turmeric was increased. The arrival of new and old turmeric has increased. The traders those who are having few upcountry demand and local demand have started buying the new turmeric by quoting an increased price. Of the total arrival of 4,000 bags, 350 bags of Mysore variety are new turmeric. All the new turmeric was sold, said Palanisamy a trader.

The new turmeric finger variety was increased by ₹300 a quintal and was sold for ₹7,500 and the root variety by ₹100. The old finger turmeric was decreased by ₹250and the old root variety by ₹150. Of the total arrival, 75 percent stocks were sold.

At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at ₹5,511 to ₹8,209, root turmeric was sold at ₹5,019 to ₹7,489. Of the arrival of 2,628 bags, 1,512 bags were sold including the new turmeric.

At the Regulated Marketing Committee, finger turmeric was sold at ₹6,629 to ₹7,661, root variety was sold at ₹6,239 to ₹7,095. Of the 464 bags were placed for sale, 404 bags were sold.

At the Erode Cooperative Marketing Society, finger turmeric was sold at ₹7,256 to ₹8,258, root variety was sold at ₹6,299 to ₹7,399. Out of 680 bags kept for sale, 598 bags were sold.

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The widening natural rubber deficit in the country has prompted the tire industry to seek duty-free imports of rubber equivalent to the projected domestic deficit, saying that the 25 percent import duty is hurting its price competitiveness.


The emerging situation has led to the domestic scarcity of the raw material, as the industry consumes 65-70 percent of natural rubber. A drastic drop in deficit as projected will only increase the industry’s dependence on expensive imports, said Satish Sharma, Chairman, Automotive Tyre Manufacturers Association (ATMA).

Quoting the Rubber Board’s revised figures, he pointed out that the Board has projected a domestic output of 7.3 lakh tonnes (lt) and consumption of 11 lt for the FY 17-18 and a deficit of 3.7 lt (higher than the figure of 3.5 lt in the previous year).

Earlier in the year, the Board had projected a deficit of 2.7 lt which has recently been increased to 3.7 lt. In the process, the gap as a percentage of consumption has increased from 25 to 34 percent.

Adding to the industry’s worry is the fact that from mid-February onwards the lean production period will commence which will last until September. So, availability will be significantly curtailed in the off-peak months.

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Traders upbeat on coriander whose prices are up on lower acreage


Two major spice commodities are set to witness a contradictory price trend this year.

Buoyed by the higher prices of last year, farmers in Gujarat turned to jeera (cumin seed) from coriander, resulting in a sharp rise in jeera acreage and almost an equal decline in the coriander sowing.

Jeera prices slip

As a fallout of higher acreage, jeera prices are set for a slide, while lower acreage is set to trigger a rally in coriander prices making it one of the potential spices for attractive returns, trade sources revealed.

On the spot markets across the State, jeera prices were at ₹175 per kg and on the National Commodity & Derivatives Exchange prices were ruling at ₹16,500 a quintal for March delivery.

“Jeera prices had averaged at around ₹180 a kg last year. Coriander was fetching ₹45 last year, which prompted many farmers to switch to jeera, resulting into about 35 percent increase in the acreage for jeera and almost an equal decline in coriander acreage,” said Arvind Patel, former Chairman of the Unjha APMC.

Higher jeera output

According to farmer estimates, jeera production in Gujarat was estimated at around 2.75 lakh tonnes (approximately 50 lakh bags weighing 55 kg each) last year, which is likely to touch 4.12 lakh tonnes this year.

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With local mandis remaining closed today, pulses and pulse seeds in Indore mandis ruled stable amid slack and subdued demand with Masur (bold) in private trading being quoted at ₹3,400 a quintal, while Masur (medium) ruled at ₹3,100. Masur dal (medium) ruled at ₹4,700-4,800, while Masur dal (bold) went for ₹5,000-5,100 a quintal.


Urad (bold) fetched ₹3,500-3,600, while urad (medium) ruled at ₹2,800. Urad dal (medium) was at ₹4,700-4,800, while urad dal (bold) went for ₹5,000-5,100. Moong (bold) fetched ₹5,000-5,100, while moong (medium) ruled at ₹4,500 a quintal.

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Kharif output also up, rabi record due to higher acreage, favorable agro-climatic condition


Saddled with imports until last year, India is set to achieve self-sufficiency in pulses in FY 2018-19, with a high Kharif output and the likelihood of record rabi season production due to an all-time high acreage and favorable agro-climatic condition.

Until last year, that is 2016-17, India remained heavily dependent on import of pulses of different varieties, including chick peas from Australia, tur from Myanmar and other varieties from Canada and a number of non-consuming but large-growing African countries. Apex industry body, India Pulses and Grains Association (IPGA), puts India’s import at around 5.7 million tonnes of pulses during FY2017, almost similar to 5.8 million tonnes imported during the previous financial year.

According to the Directorate General of Commercial Intelligence and Statistics (DGCIS), India has imported pulses worth $2.47 billion for the period between April and November 2017 to meet its growing consumer demand. During the financial year 2016-17, India had set a record in imported pulses at $4.24 billion, up from $3.90 billion the previous year.

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The DGAD has said there is no investigation into imports from Indonesia and Korea

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Allegations of dumping concerning imports of coated paper from China, the European Union, and the US are being looked into by the Directorate General of Anti-Dumping & Allied Duties (DGAD). Of the paper and paperboard imports, which crossed 1.049 million tonnes, around 60 percent is coated paper. The DGAD's investigation comes on a petition filed by the Indian Paper Manufacturers Association.

“The Authority hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry ...,” according to the DGAD notification.

The product under consideration is used primarily for printing magazines, catalogs, books and manuals, calendars, brochures, labels, flexible packaging, etc. The weight of the coated paper is 40-350 gm per square meter.

Welcoming the development, Rohit Pandit, secretary general, Indian Paper Manufacturers Association, urged the government to expeditiously impose anti-dumping/safeguard duties on imports of paper and paperboard.

The pulp and paper industry had made substantial investments in the past five years, he said, and it was becoming very difficult to meet its financial obligations in view of significant drops in margins.
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Small cardamom prices showed a steady trend at the auctions held in Kerala and Tamil Nadu.


At the Cardamom Planters Association (CPA auction held in Bodinayakannur on Monday, of the 33 tonnes arrived 32 tonnes were traded. The maximum price was at ₹1,234 a kg. The auction average stood at ₹941.41 (₹929.54).

Total arrivals decreased last week to 502 tonnes from 814 tonnes the week before. Harvesting in almost 50 percent of the estates is over and the picking in the remaining will be over by next month end. Therefore, arrivals are expected to narrow down, said PC Punnoose, General Manager, CPMC.

A slow-down in buying was felt in the market following severe cold wave conditions prevailing in the upcountry markets, he said.

The individual auction average has slipped to ₹948.63 a kg from ₹954.15 a kg the previous week. The auction average vacillated between ₹929 and ₹970 a kg last week.

Total arrivals during the current season as on January 20 were at 15,395 tonnes and sales were at 15,072 tonnes. The individual auction average of the season was at ₹958.85/kg.

Prices of graded varieties (₹/kg): 8mm green bold 1,250-1,300; 7-8 mm: 1,000; 6-7 mm: 930 -940. Good bulk was being traded at ₹1,000 a kg.

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Benchmark indices are trading higher following Asian shares, that hit historic highs on Monday after Wall Street extended its record-breaking run, while the US dollar retreat continued as investors priced in the risk of tighter policies elsewhere in the developed world.

Back home, Information technology giant Infosys on Friday said its net profit for the quarter ended December 2017 rose 38% sequentially to Rs 51.29 billion as against Rs 37.26 billion in the previous quarter.

In sequential terms, revenue rose 1.3% to Rs 177.94 billion as compared to Rs 175.67 billion in September quarter.

Meanwhile, India’s retail inflation hit a fresh high, growing 5.2% in December, mainly due to hardening housing, fuel, and food prices, while inching towards RBI’s upper tolerance level of inflation at 6%.

Capital First hits 52-week high on merger with IDFC Bank


Hit a 52-week high of Rs 901, up 8% on BSE in early morning trade after the company engaged in financial services business announced that its board approved the merger of the company with IDFC Bank.

IDFC Bank and Capital First on Saturday, January 13, 2018, announced that the boards of directors of IDFC Bank and Capital First at their respective meetings held on January 13, 2018, approved a merger of Capital First with IDFC Bank.
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