Vedanta-Cairn India merger approved

New Delhi [India], Apr. 12 : Vedanta Limited (Vedanta) and Cairn India Limited (Cairn India) on Tuesday announced that the merger of Cairn India with Vedanta pursuant to the Scheme of Arrangement has become effective.

Being India's premier natural resources company, Vedanta provides the metals and energy to build India and fuel its growth. The combined entity is positioned to unlock India's wealth of world-class energy and mineral resources, thus enhancing oil and gas production, and preserving the 'Cairn' brand.

Commodity Trading Tips for Cotton by Kedia Commodity

Cotton on MCX settled up by 0.58% at 20770 on supply concerns as output is expected to fall in the domestic market. India's cotton productivity has dropped in recent years owing to worm infestations hurting quality of the crop. Cotton output in the domestic market is expected to slip to 34.2-34.6 million bales in 2016-17 according to estimates of Southern Indian mills Association from 39.8 million bales in 2013-14. Additionally, in 2017-18, mills consumption is seen at 30.1 million bales, marginally higher from 2.99 million bales in 2016-17. However, exports are seen rising to 5.8 million bales from 5 million bales. Chinese cotton imports will remain suppressed next season, as the government continues to draw down on cotton stocks, while production recovers, US officials said.

Commodity Trading Tips for Cardamom by Kedia Commodity

Cardamom on MCX settled down by -2.89% at 1240.2 due to lack adequate support from stockists amid reports of higher supplies of imported variety. Prices are unlikely to improve in the coming week due to accumulation of imported stocks. Arrivals at the auction centres continued to shrink as the season has come to an end and number auctions have been cut in the absence of sufficient quantity. India exported 3,000 ton cardamom during Apr-Dec down from 3,825 on a year ago, data from Spices Board showed. Supply continued to show a shrinkage following the continued dry spell. Harvesting is nearly complete and hence arrivals are unlikely to pick up. Exporters and north Indian dealers have slowed down because of the higher prices.

Commodity Trading Tips for Maize by Kedia Commodity

Maize on NCDEX settled up by 1.17% at 1471 tracking firmness in spot demand despit of losses in overseas on expectations of further increases in South American production. Farmers may harvest at an estimated 14.32-million tonnes of maize in 2017‚ which represents the third-biggest maize crop on record. Favourable weather conditions have enabled producers to increase the area planted to summer crops‚ with maize output now expected to be 84% higher in 2017 than in 2016. In its second estimate for the year on Tuesday‚ the Crop Estimates Committee said it had revised the maize output estimate by 2.91% from the first estimate.

Commodity Trading Tips for Jeera by Kedia Commodity

Jeera on NCDEX settled up by 0.39% at 19190 in the wake of reports of fall in output in both Gujarat and Rajasthan. Gujarat government has estimated lower output this year due to adverse weather while there were reports rains during March in some parts of Rajasthan, which have impacted jeera crop. Daily jeera arrivals have been rising in the markets of Gujarat. Due to higher prices last year, production across Turkey, Syria, China, Pakistan and Afghanistan is expected to increase, the report said. India's Apr-Dec jeera export jumped 35% to 91,000 ton from 67,300 ton a year ago on the back of higher demand from China and Bangladesh. India imported around 2,550 ton jeera during Apr-Oct as against negligible in the previous year.

Commodity Trading Tips for Turmeric by Kedia Commodity

Turmeric on NCDEX settled down by -0.22% at 6264 due to rising arrivals on the back of increased output. Demand from stockists and masala manufacturers remained weak as they are expecting prices to decline further in view of bumper crop. India's Apr-Dec turmeric export 25% to 85,500 ton on year. Last year, India exported 68,500 ton in the same period. In the Delhi spot market turmeric single polish gattha was traded weak at Rs 7,300-7,400 per quintal on weak demand. Turmeric farmers and traders have been hit hard by poor sales during peak season. Many traders and farmers expected good sales of turmeric during the peak period, which started a month ago.

Commodity Trading Tips for Mustard Seed by Kedia Commodity

Mustard Seed on NCDEX settled down by -0.59% at 3869 tracking weakness in sprot demand on higher supply. Prices of seed will be down as Solvent Extractors Association of India hiked its output forecast for 2016-17. India's mustard output in 2016-17 is estimated at 7.2 million tons (including 120,000 tons of taramira and toria), up from 5.8 million tons a year ago as favourable weather led to better yield, the SEA of India reported citing a data on a field survey conducted by Neilsen India. India's mustard output in 2016-17 is estimated at 7.2 million tons (including 120,000 tons of taramira and toria), up from 5.8 million tons a year ago as favourable weather led to better yield, the SEA of India reported citing a data on a field survey conducted by Neilsen India.

Commodity Trading Tips for Crude palm Oil by Kedia Commodity

Crude palm Oil on MCX settled down by -1.74% at 512.6 tracking weakness in spot demand and overseas prices on hope of recover in Malaysian palm oil output. Prices of the oil will be down as Malaysia Palm Oil reserves are expected to rise during March month. Inventories are expected to rise by 4.1% to 1.52 million tons in March as compared to previous month while production estimated to increase by 9.5% to 1.38 million tons from February. Palm oil refiners in Malaysia are boosting purchases of Indonesian crude palm oil to meet festive demand as there is tight local supply. After a year of tight market balances, there is widespread expectation of augmented production around the world, modest demand growth and gradually expanding inventory.

Commodity Trading Tips for Ref. Soyaoil by Kedia Commodity

Ref.Soyaoil on NCDEX settled down by -0.58% at 619.25 on robust supply in local market along with lower tariff rates. Prices seen under pressure after International Grains Council in its report hiked soybean output forecast for 2016-17 by 5 million tons to 341 million tons and for 2017-18 output seen at 345 million tons. Moreover, according to market participant import of soybean oil for May is in parity of Rs 28-30 per 10 kilogram which will further put pressure on soy oil prices. Additionally, Celeres Consultancy raised its estimate of Brazil's soybean crop to 113.8 million tons from 109.65 million tons last month. Meanwhile, broker INTL FCStone also lifted its projection for the Brazilian crop to 111.6 million tons from 109.07 million tons previously.

Commodity Trading Tips for Soyabean by Kedia Commodity

Soyabean on NCDEX settled down by -0.48% at 2913 tracking weakness in spot demand on oversupply woes despite of hope of higher demand from crushers and in export market. Prices remained under pressure on expectation of bumper output in India and other top producers of the world. In, India production of yellow bean is expected to rise to 8.90-9.10 million tons as compared to 7.1 million tons in the previous year Production in the United States, Brazil and Argentina, the world's top producers, is also expected to rise. US Department of Agriculture reported that US farmers are likely to increase soybean acreage by 7.25 million acres to 89.48 million acres in 2016-17.

Commodity Trading Tips for Menthaoil by Kedia Commodity

Mentha oil on MCX settled down by -0.57% at 988.8 on speculation that the area under cultivation can increase this year resulting good production. However downside seen limited amid tight stocks position on restricted supplies from producing belts. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes. Unfavourable weather conditions during harvesting period led to the drop in production. On the demand side, the seasonal demand emerges during winter season, especially from the pharma sector. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year.

Commodity Trading Tips for Aluminium by Kedia Commodity

Aluminium on MCX settled down -1.59% at 123.75 as supply concerns eased and demand remained weak in top metal consumers such as China. LME stocks are falling at a fast pace and physical premiums are rising, although as ever with aluminium appearances can be slightly deceptive. The deficit in the global aluminium market to widen further in CY2017 as a result of up to almost 3 million metric tonne (MMT) of production cutbacks in China, post the imposition of a new air pollution control regime in Beijing. China’s inventories of aluminum ingot registered the first decline after the 2017 Chinese New Year holiday. Last week, total aluminum inventories in the five major trading markets fell 4,000 tonnes, according to data.

Commodity Trading Tips for Nickel by Kedia Commodity

Nickel on MCX settled down -0.73% at 652 traded in the range while LME Nickel price ended unchanged at $10,180, balanced by potentially bullish and bearish news. A suspended Philippine nickel miner has asked the president to allow it to ship ore stockpiles after some cargoes were seized. Cyclonic winds and heavy rain buffeted New Caledonia, prompting residents of the French South Pacific territory to seek shelter and halt mining of nickel, its most important export. China has been the target of anti-dumping lawsuits, and this is expected to be a hot topic in the meeting of the two world leaders.

Commodity Trading Tips for Zinc by Kedia Commodity

Zinc on MCX settled down -2.06% at 168.40 dropped tracking weakness from LME Zinc which hit a three-month low on Monday as supply concerns eased and demand remained weak in top metal consumers such as China. LME Zinc prices touched a peak of $2,980.50 a tonne in mid-February on worries that major mine closures last year would lead to severe shortages. London Metal Exchange three-month zinc slid 2.7 percent to close at $2,618 a tonne, the weakest since Jan. 6. Also pressuring the market was weakness in Chinese steel prices and news that two flood-hit mines in Peru were ready to restart. Chinese smelters may prove less resilient in the coming months after they announced that 540,000 tpy of capacity would be put on maintenance for unspecified period.

Commodity Trading Tips for Copper by Kedia Commodity

Copper on MCX settled down -0.93% at 372.55 as rising geopolitical tensions blunted appetite for risk and lifted the dollar, but prices were underpinned by tightening supply. LME copper dropped 1.5 percent to end at $5,747 a tonne, adding to small losses in the previous session, having broken support at its 100-day moving average at $5,800 a tonne. Prices have faltered since shipments resumed from BHP Billiton's Escondida mine in Chile and since Freeport McMoRan Inc said it was awaiting final details on a temporary export permit in Indonesia, ending lengthy disruptions. The supply disruptions that we have seen were short-term dynamics and did not create real tightness in the market.

Commodity Trading Tips for Naturalgas by Kedia Commodity

Naturalgas on MCX settled down -0.29% at 209.40 fell in yesterday’s session continuing a small retreat from 2 1/2-month highs on mild weather may limit demand and the market’s ability to keep rallying. Natural gas prices appear to have found solid resistance at the 215.20 level, while according to, temperatures vs normal averaged over the next 7-days are expected to be warmer than normal over a majority of the US besides the West Coast/NW. This will result in limited demand for heating over the northern US, while only minor demand for cooling over the relatively warm southern US. A rather bearish map in terms of temperatures vs normal even as numerous weather systems traverse the country with rain and snow. They just aren’t very cold besides along the West Coast.

Commodity Trading Tips for Crudeoil by Kedia Commodity

Crudeoil on MCX settled up 1.94% at 3424 climbed higher reaching it best closing level in over a month amid concerns about geopolitical tensions, the price of crude oil showed a notable upward move during trading on Monday. Support also seen after the update that Libya's Sharara oilfield was shut after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said. The field had only just returned to production, after a week-long stoppage ending in early April. The outage added to a rally that started late last week after the United States fired missiles at a Syrian government air base. While Syria produces only small volumes of oil, the Middle East is home to more than a quarter of the world's oil output.

Commodity Trading Tips for Silver by Kedia Commodity

Silver on MCX settled down -0.03% at 41366 tracking weakness from Comex Silver which dropped to settled at $17.88 a troy ounce extending last week’s slide as a stronger dollar weighed on precious metals. The US dollar index rose to more than three-week highs against a basket of other major currencies. Renewed dollar support late on Friday undermined bullion and defensive support for precious metals was curtailed by relief over the US trade stance during President Trump’s meeting with Chinese President Xi. Silver held steady while support can be seen as growing geopolitical tensions continued to drive safe-haven demand. Top aides to U.S. President Donald Trump differed on Sunday on where U.S. policy on Syria was headed after last week's attack on a Syrian air base, while U.S.

Commodity Trading Tips for Gold by Kedia Commodity

Commodity Trading Tips for Gold by Kedia Commodity

Gold on MCX settled up 0.19% at 28739 prices recovered from the day's low while prices dropped in the morning session as the US dollar continued to remain supported by Federal Reserve policy tightening expectations. Recovery in the prices seen in late session with markets keeping a close eye on geopolitical risks and noting comments from the Fed chief that suggested the central bank is on track with plans to hike rates as forecast. The Federal Reserve's plans to raise U.S. interest rates gradually are aimed at sustaining full employment and near-2-percent inflation without letting the economy overheat, Fed Chair Janet Yellen said on Monday. Also Yellen repeated earlier comments that the economy is expected to continue to grow at a moderate pace.

Tropical Cyclone Cook moves past New Caledonia, finds NASA

Washington D.C. [USA], Apr. 11 : Tropical Cyclone Cook formed in the Southern Pacific Ocean and on Sunday, April 9, 2017 and moved across the island of New Caledonia in the South Pacific Ocean on early on April 10. NASA-NOAA's Suomi NPP Satellite passed over Cook as it was making landfall.

The Visible Infrared Imaging Radiometer Suite (VIIRS) instrument aboard NASA-NOAA's Suomi NPP satellite provided a visible image of Cook on April 10 at 0254 UTC (April 9 at 10:54 p.m. EST). That was about one hour before the storm's center made landfall in central New Caledonia. The image showed a cloud-filled eye surrounded by powerful thunderstorms. A large band of thunderstorms feeding into the center blanketed the islands of Vanuatu.

Syndicate content