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M&M offloads 22% stake in JV to partner Sanyo Special Steel for Rs146cr - 9 FEB 2018

03:08 Unknown No comments

India’s largest tractor manufacturer, Mahindra and Mahindra Limited (M&M), sold 22% stake in Joint Venture (JV) Mahindra Sanyo Special Steel Private Limited (MSSSPL) to JV partner Sanyo Special Steel Company Limited (Sanyo) for Rs146.32cr. This was announced by M&M to stock exchanges on February 9, 2018.As per its FY17 Annual Report, M&M owns 51% stake in MSSSPL, while Sanyo, Japan and Mitsui and Company Limited, Japan, own 29% and 20% respectively. MSSSPL is a manufacturer of Carbon, Alloy & Tool Die Steels.

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Gold Slides To Lowest Level In A Month Amid Firmer Dollar - 8 FEB 2018

04:36 Unknown No comments

Gold prices edged lower on Thursday, reaching their lowest level in around a month as the dollar firmed amid expectations of more U.S. interest rate hikes this year. Gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced. A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. The move higher in the yields also came amid news that U.S. Senate leaders reached a two-year budget deal to raise government spending by almost $300 billion. Meanwhile, focus remained on U.S. stocks, which were the source of the latest turbulence in global markets. Unless the market plunge intensifies and damages the economy, the Federal Reserve is unlikely to budge from its plan to raise borrowing costs three times this year, some analysts said.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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Oil rises on report of lower U.S. crude inventories, stock market recovery- 7 FEB 2018

04:50 Unknown No comments

Oil prices rose on Wednesday amid a share market recovery and supported by a report that U.S. crude inventories fell last week, although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude.The higher oil futures came after stock markets recovered some of their steep losses of previous days.A group of oil producers around OPEC and Russia have been withholding supplies since last year in order to tighten supplies and prop up prices. The cuts are set to last through 2018. "Evidence points to a global inventory market that has arguably already balanced – with days of forward cover in the low single digits or possibly even lower - which should support the spot price going forward," said Richard Robinson, manager of the Ashburton Global Energy fund.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

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