TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : The Market has opened in Green on Monday. The 50 Shares Nifty is up by 26 points or 0.3 per cent at 7841. With some Global and Domestic cues. The Govt has cleared the double tax pact with Mauritius to invest in the equity market. The Chinese data indicate that the Chinese economy is Stabilizing. The MeT department predicted that arrival of monsoon over the coast of Kerala is likely to be delayed by a week. US retail and consumer confidence data shown highest of 13 month indicating the Fed rate hike possibility. From Domestic Front Exit polls on Monday shows that the big win for the BJP in Assam, Expecting the same thing from west Bengal, and some Tamil Nadu , And Kerala. The market has shown some positive movement after Monday losses. The Nifty trend is seems mixed in technical chart , Nifty is trading in the range of 7850-7940. The market is above it’s median term support levels. The inherent bullishness of the market has reached precipitous levels with expecting higher level of Nifty in near term. The Strong Support for Nifty50 is 7800-7750 and Resistance is 8080-8130.
BANK NIFTY : - The Market has opened in Green on Monday. The 50 Shares Nifty is up by 26 points or 0.3 per cent at 7841. With some Global and Domestic cues. The Govt has cleared the double tax pact with Mauritius to invest in the equity market. The Chinese data indicate that the Chinese economy is Stabilizing. The MeT department predicted that arrival of monsoon over the coast of Kerala is likely to be delayed by a week. US retail and consumer confidence data shown highest of 13 month indicating the Fed rate hike possibility. From Domestic Front Exit polls on Monday shows that the big win for the BJP in Assam, Expecting the same thing from west Bengal, and some Tamil Nadu , And Kerala. The market has shown some positive movement after Monday losses. The Nifty trend is seems mixed in technical chart , Nifty is trading in the range of 7850-7940. The market is above it’s median term support levels. The inherent bullishness of the market has reached precipitous levels with expecting higher level of Nifty in near term. The Strong Support for Nifty50 is 7800-7750 and Resistance is 8080-8130.
Monday, 23 May 2016
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
WEEKLY
MONTHLY
R2
R1
PP
S1
S2
7903
7827
7789
7751
7675
R2
R1
PP
S1
S2
8345
8001
7829
R2
R1
PP
S1
S2
8583
8063
7803
7543
7023
R2
R1
PP
S1
S2
16943
16667
16529
16391
16115
R2
R1
PP
S1
S2
18052
17118
16651
16184
15250
R2
R1
PP
S1
S2
18902
17352
16577
15802
14252
7657
7313
BANK NIFTY DAILY
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
7857
7749
7589
7818
BANK NIFTY
16700
16184
15719
16579
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
7958
7565
6862
BANK NIFTY
16371
15137
17662
PATTERN FORMATION ( NIFTY )
Detail of Chart On the Above given chart of Nifty has applied the Fibonacci Retrenchment along with Supportive trend line these are the trend identifying pattern and made Support level in the Nifty daily chart that made on the above given chart we have draw the for day period and it is not able to break the up level. However in upcoming trading session it could come back the level which is the strong Resistance for the Nifty50 around 7900. Now we are expecting that if the Nifty is able to sustain the 7700 level we are cautious about the market in upcoming trading session can see the Bear trend of Nifty for some more sessions on the other hand if Nifty rebound the 7800-7850 level again we may see the positive rally in the index. The Strong Support for Nifty50 is 7700-7650 Resistance is 7800-7880.
and the
PATTERN FORMATION ( BANK NIFTY )
Details of ChartOn the Above given chart of Bank Nifty has applied the moving Average along with the multiple trend lines, the Bank Nifty is looking cautious for the upcoming trading sessions of next week. these are the trend identifying pattern and made the Supportive trend level in the Bank Nifty daily chart that made on the above given chart we have draw the trend line for more than the week period and if it is able to break the lower level. However in upcoming trading session it could break the lower level which is the strong Support for Bank Nifty around 16500.. Now we are expecting that if the Bank Nifty is able to sustain the 16450-16500 level we may witness the consolidation trend of Bank Nifty for some more sessions on the other hand if Bank Nifty rebound the 16700-16900 level again we may see the positive rally in the index. The Strong Support for Bank Nifty is 1630016500 and the Resistance is 16800-17200.
NSE EQUITY DAILY LEVELS COMPANY NAME
R2
R1
PP
S1
S2
ACC ALBK
EQ EQ
1429 53
1421 52
1409 51
1401 51
1389 50
AMBUJACEM ASIAN PAINT AXISBANK BAJAJ-AUTO BANKBARODA BANKINDIA BHEL BHARTIARTL CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK ITC INDUSIND BANK INFY JINDALSTEL KOTAKBANK LT M&M MRF MARUTI ONGC ORIENTBANK RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK
EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ
216 969 499 2480 139 83 121 351 524 283 127 3057 379 4275 744 1202 1155 2934 89 830 229 333 1084 1223 63 715 1292 1335 33028 3994 216 84 52 400 965 516 49 177 99 802 395 71 330 109
214 963 495 2465 137 83 120 348 518 281 125 3046 376 4250 738 1190 1146 2919 88 824 226 330 1077 1213 62 711 1277 1318 32658 3951 214 82 51 396 955 511 49 175 98 798 390 69 328 108
213 956 492 2446 136 82 120 344 509 280 124 3034 373 4225 734 1181 1140 2895 87 815 223 327 1068 1209 60 705 1264 1304 32330 3916 212 80 51 392 943 505 48 172 96 794 386 69 324 107
212 950 488 2431 134 81 119 341 504 278 122 3023 370 4200 728 1169 1131 2880 86 809 219 324 1061 1199 59 701 1249 1287 31960 3873 210 78 50 388 933 500 48 170 95 791 381 67 322 106
211 943 485 2412 133 80 119 336 495 277 121 3011 367 4175 724 1160 1125 2856 85 800 216 321 1052 1195 57 695 1236 1273 31632 3838 208 76 49 384 921 494 48 168 94 786 377 67 318 104
TOP 15 ACHIEVERS
SR.NO
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
SCRIPT NAME
PREV CLOSE
CMP
//
SR.NO
% CHANGE
GATI LIMITED
114.50
131.25
+ 14.63 %
ONGC
203.75
213.10
+ 5.59 %
DR. REDDY’S
2917
3033
+ 4.00 %
ITC LIMITED
319
330
+ 3.44 %
YES BANK LTD.
950
977
+2.86 %
MARUTI SUZUKI
3846
3944
+ 2.57 %
HCL TECH
723
736
+ 1.87 %
BOSCH LTD.
20676
21049
+ 1.81 %
ASIAN PAINTS
943
956
+ 1.43 %
HDFC
1166
1179
+ 1.16 %
BHARTI INFRA
374
377
+ 0.74 %
WIPRO LTD.
539
543
+ 0.69 %
INDUSIND BANK
1065
1070
+ 0.49 %
TCS
2523
2529
+ 0.23 %
POWER GRID CO
144.75
144.80
+ 0.03 %
1 O22+O22+O22+O222+O22 N01 N01 N01 N01 N01 G335G335G335G3335G33 C. . . C. . . C. . . C. . . C. . 1.3 I3 I3 73 1+52.3 73 1+53.3 73 1+54. 73 14+55. 73 1 T1 53 09T1 53 09T1 53 09T1 53 09T1 53 0 C903C903C903C9053C90 .% .% .% .% M L33+4M L33+4M L33+4M L336+4M L33 A I 894A I 894A I 894A I 894A I 89 R 442R M M442R M442R M4472R M44 U I 64.%U I 64.%U I 64.%U I 64.%U I 64 B T22+5B T22+5B T22+5B T228+5B T22 O IE017O IE017O IE017O IE017O IE01 SD601SD601SD601SD6091SD60 C U74.%C U74.%C U74.%C U74.%C U74 H +8H 61 9+8H 61 9+8H 61 9+8H 61 9 61 9 Z1 Z1 Z1 Z1 Z1 10 11 111U111U111U11 U D 1U D D D D 1LK67 LK671LK671LK671LK67 11 FTI 69.%FTI 69.%FTI 69.%FTI 69.%FTI 69 W 55+1W55+1W 55+1W55 +1W55 D C D C D C D C 12D C 34 34 34 34 34 I. 6I. 6I. 6I. 6I. 930 930 930 913 30 93 P .%P .%P .%P .%P T22+6T22+6T22+6T214 2+6T22 R R R R R 55 55 55 55 55 C 9C 9C 9C 9C O220O220O220O220O22 S39.%S39.%S39.%S315 9.%S39 2 2 2 2 L 3L 3L 3L 3L
TOP 15 LOOSERS
SCRIPT NAME
PREV CLOSE
CMP
BANK BARODA
155
135
SBIN
184
171
% CHANGE
-12.93 % -7.30 % ADANI PORTS
188
177
I LUPIN I LIMITED I
1588
1504
CIPLA
531
507
RELIANCE
978
934
ACC
1457
1393
IDEA CELLULAR
113
109
AMBUJA CEMENT
217
208
BHARTI AIRTEL
354
341
ZEEL
448
434
NTPC
141
136
ICICI BANK
226
220
BHEL
122
119
L&T
1286
1255
-5.62 % -5.28 % -4.63 % -4.49 % -4.37 % -3.87 % -3.87 % -3.65 % -3.22 % -2.91 % -2.83 %
T
T T T T % % % % D D D D D
NEXT WEEK STARS( AS PER ECHNICAL ANALYSIS PRIDICTION ) +13.67 AMBUJA. CEMENT AM 204 232 . . . . FUTURES PACK % BUJ 18128 +12.37 + 20371 2. B 3. B 124.12+5.12+6.12+7. B12+B B B % 1 1 1 1 A NSE CASH : BUY ALKEMONSE CASH ABOVE 1250 TGT 1350 OSCH 80O80O 80O80O 801 SL 1220. ACC 1240 1385 +11.68 ACC 2 2 2 2 2 CEM S % LTD. 13. S13. S13. S465 13. S13TGT NSE CASH : BUY NATCOPHARM NSE CASH ABOVE 505 SL 451. . ENT C 2 7 C 2 7 C 2 7 C 2 7 C 2 7 3 TGT 3 3 94 3 SL 3 82. NSE CASH : BUY ADLABS NSE CASH ABOVE 85 H 817H817H817H817H817 NSE CASH : BUY PVR NSE CASH ABOVE 900 TGT 965 SL 879.
% L L %L %L %L % T TTTT CASH PACK D DDDD HNI FUTURE PACK : BUY PETRONET FUTURE ABOVE 285 TGT 288 SL 283 . . . . . HNI FUTURE PACK : BUY TATAELXSI FUTURE ABOVE 1925 TGT 1945 SL 1910 HNI FUTURE PACK : BUY YESBANK FUTURE ABOVE 968 TGT 978 SL 960 HNI FUTURE PACK : VEDL FUTURE ABOVE 102.50 TGT 104 SL 101.50 HNI FUTURE PACK : SELL ORIENTBANK FUTURE BELOW 83 TGT 81 SL 84.50
-2.81 % -2.44 %
111- 211- 311- 4S11- 5 S11 B877B877B877B877B87 I 41. I 41. I 41. I 41. I 41 N 3N 3N 3N 3N L11-0L11-0L11-0L11-0L11 U555U555U555U555U55 P80.%P80.%P80.%P80.%P80 I 842I 842I 842I 842I 84 R N99-8R N99-8R N99-8R N99-8R N99 E734E734E734E734E73 L84.%L84.%L84.%L84.%L84 I 4I 4I 4I 4I IA 11-9IA M M11-9IA M11-9IA M11-9IA M11 D N N N N N I 103D I 103D I 103D I 103D I 10 EC T39.%EC T39.%EC T39.%EC T39.%EC T39 A E 8A E 8A E 8A E 8A E B D33-7B D33-7B D33-7B D33-7B D33 H C543H C543H C543H C543H C54 A E41.%A E41.%A E41.%A E41.%A E41 R L 6R L 6R L 6R L 6R L N TL11-5N TL11-5N TL11-5N TL11-5N TL11 TIU432TIU432TIU432TIU432TIU43 P A A A A A L16.%P L16.%P L16.%P L16.%P L16 C IA 9C IA 9C IA 9C IA 9C IA B R11-1B R11-1B R11-1B R11-1B R11 H T212H T212H T212H T212H T21 EE29.%EE29.%EE29.%EE29.%EE29 LL 8LL 8LL 8LL 8LL 1 1 1 1 %
%
%
%
NSE - WEEKLY NEWS LETTERS ✍ TOP NEWS OF THE WEEK Onset of monsoon over Kerala likely to be delayed by a week - The onset of the Southwest monsoon over Kerala is likely to be delayed from the normal date of June 1. The Weather office said, The first negative signal since it forecast about the normal rain fall this season after two consecutive years of drought. The Statistical model used by Indian Meteorological Department for predicting the onset of monsoon indicates the southwest monsoon likely to set over Kearala on June 7 , With a model error ± 4 days. Indian Meteorological Department said on Sunday.
RBI, Finance Ministry share a mature relationship : Arun Jaitley - Regarding the speculation about a possible second term for Reserve Bank Governor Raghuram Rajan, Finance Minister Arun Jaitley declined to be drawn into the matter, according to reports.Jaitley stated that there is a "mature relationship" between the central bank and the government. We at the highest level, at the two institutions, have discussions and each consider each other's views and observations, FM added.On May 13, Rajan had said that he has enjoyed every moment of the job, but there is "more to do".
Growth Recovery in India becoming more broad-based: Morgan Stanley - Growth recovery in indian economy is becoming more ‘broad based ‘ with rise in Public sector capital expenditures and Foreign Direct Investment say Morgan Stanley in a report. Also going forward the consumption Growth is expected to pick up further. According to Global brokerage the Recovery in growth is becoming more broad based because of Public sector capital expenditure in Rural and Urban Area as well.
Indian Economy estimated to register 7.6 % growth in FY 16 : Arun Jaitley - The Union Finance Minister Arun Jaitley said that the Indian economy is estimated to register 7.6% growth in 2015-16, notwithstanding contraction of global exports and two consecutive years of shortfall in monsoon. Amid weaker outlook across the globe, he said that India experience of strong economic growth, comfortable price situation, low Current Account Deficit, and adherence to path of fiscal recovery have projected it as an outpost of opportunity for global investors. The Finance Minister Jaitley was speaking at a meeting with a group of Executive Directors of the World Bank Group here. The discussions held ranged from the performance of ongoing World Bank Projects in India to various policy issues related to the World Bank Group financing.
P-Notes , Mauritius Treaty will not impact FPIs, Says Jayant Sinha - Investors need to merely tweak their hedging strategy and not get too concerned over the change in participatory note rules by Securities and Exchange Board of India, Jayant Sinha , minister of state for finance, told a clutch of leading foreign portfolio investors on Thursday.Sinha along with Revenue Secretary Hasmukh Adhia were part of a conference call organized by Goldman Sachs for FPIs and their advisors. He stressed that the contracts signed by investors for P Notes are very flexible and the new Sebi regulations would not impact that," said "He was of the view that the P Note announcement doesn't change anything for the FPIs ," he said.
Q4 Banking Woes : Gross NPAs of 27 banks touch Rs. 2.49 Trillion - The ghost of Non Performing Assets continued to torment Indian banking sector in the quarter ended March 31, 2016. 27 out of 40 banks have announced their Q4 FY16 financial results so far and their combined gross NPAs grew 54.64% from Rs. 1,61,297 crore reported to touch Rs. 2,49,439 crore in Q3 FY16. Among public sector banks, 11 banks ’ combined gross NPAs were Rs. 2,01,318 crore for Q4 FY16, as against Rs. 1,21,720 crore in Q3 FY16, reflecting a sharp rise of 65.39% QoQ. Till date, gross NPAs of 11 private sector banks surged 21.58% to Rs. 48,121 crore for the quarter ended March 31, 2016 as against Rs. 39,577 crore reported in September -December 2015 period.
Britain exit from Europe Union can Open Opportunity for India: Report - An exit of Britain from the European Union , referred to as ' Brexit ', will create a lot of uncertainty within Europe, but can open up opportunities for India, says an SBI research report. British public will vote in a referendum on June 23 to decide whether the country will remain a part of the 28-nation bloc. According to the report by the SBI Economic Research Department, Brexit may actually strengthen India's position as a truncated EU may have to rework its negotiation strategy in order to gain market access. "This referendum will have geopolitical implications and will affect the relation of the rest of the world with Europe. But, our take is that though such an exit brings up a lot of uncertainty within Europe, it definitely opens up opportunities for India," the SBI report said.
HSBC Upgraded India to Neutral from Underweight - Global investment house, HSBC has upgraded India to 'neutral' from 'underweight' based on high-frequency economic numbers which suggests that growth might improve in second half of 2016, while normal monsoon is expected to boost rural demand. The global brokerage house has also raised Sensex target to 26,000 from 25000, based on valuation of 16 times price to earnings multiple for 2017. Sensex gained 163 points or 0.64 per cent to close at
25,653. Nifty advanced 46 points or 0.59 per cent to end at 7,860, above the psychological level of 7,800 mark, this may also add much needed confidence to the traders, and give renewed vigor to the bulls on D-Street to target 8,000 mark said HSBC.
India should resist being too ambitious about growth:Rajan - RBI Governor Raghuram Rajan reportedly said India should restrain itself from being “too ambitious” at a time when the world is full of uncertainties. “Given great uncertainty about outlook and policies of others in these times, a country like India should try to take sensible measures without getting too ambitious, Rajan was quoted as saying. Rajan stated that this will serve as a sound basis for strong and sustainable Indian growth as the world economy picks up.Rajan added that the world is growing “extremely slowly”, with the factors differing from one country to other, says report. ✍ TOP ECONOMY NEWS
Union Labour Minister has said the Employees Provident Fund Organisation may invest more than Rs. 60 billion in equity market during the current financial year.
Investors must pay taxes on money they earn in India and the domestic economy is now strong enough to depend on any "tax-incentivised route" to attract foreign investments, said Finance Minister.
In pursuance to the directions of the Supreme Court, the Finance Ministry will soon set up a panel to look into the issue of mounting bad loans and come out with the steps to deal with the problem.
Driven by addition in equity fund folios, mutual fund houses have registered a surge of more than 4 lakh investor accounts in April, taking the total tally to 4.8 crore.
Exports during April,2016 were valued at Rs.136720.11 crore which was 6.74 per cent lower in Dollar terms (1.21 per cent lower in Rupee terms) than the level of US$ 22054.72 mn (Rs.138400.44crore) during April, 2015.
India's
annual wholesale price inflation moved up into the positive zone at 0.34% for
April, from (-)0.85% in March and (-)2.43% during the corresponding month of the previous year.
The
World Bank's Board has approved US$ 625 million loan to support India's grid
connected rooftop solar programme to generate clean energy.
EPFO next month is likely to consider and approve a proposal to provide life insurance cover to its subscribers for three years after cessation of employment.
India will have to renegotiate the tax treaty with Singapore to extend the capital gains tax provisions of the recently-concluded tax pact with Mauritius, Finance Minister said.
Investors must pay taxes on money they earn in India and the domestic economy is now strong enough to depend on any "tax-incentivised route" to attract foreign investments, said Finance Minister.
In pursuance to the directions of the Supreme Court, the Finance Ministry will soon set up a panel to look into the issue of mounting bad loans and come out with the steps to deal with the problem.
Driven by addition in equity fund folios, mutual fund houses have registered a surge of more than 4 lakh investor accounts in April, taking the total tally to 4.8 crore.
ICRA expects a limited number of states to be eligible to undertake a higher fiscal deficit and raise additional borrowings of up to 0.5% of gross state domestic product above the anchor of 3.0% of GSDP, as permitted recently by the Government of India to states restricting interest payments at or below 10% of their revenue receipts, curtailing debt below 25% of their GSDP and maintaining a balanced or surplus revenue account.
Food
safety regulator Food Safety Standards Authority of India is working on new regulations for quality standards of instant noodles to better regulate the quality of tastemaker and other ingredients.
Government
has approved three foreign direct investment proposals, all related to the pharmaceutical sector, worth Rs.607 million.
Ministry
of New & Renewable Energy is confident of meeting its targets of adding 12,000 MW of capacity in 2016-17 and 15,000 MW of capacity in 2017-18. India’s total installed solar power capacity stands at around 6,998 MW as on April 30.
The Indian Foundation of Transport Research and Training has written to the Finance
Minister seeking a roll back of the excise duty hikes on diesel made between November 2014 and January 2016.
Telecom regulator TRAI will start pre-consultations on the issue of net neutrality in the next couple of days. The development has come a year after the regulator issued a paper on the issue of regulation of over the top players such as WhatsApp and Skype.
The central government, in consultations with banks and the Reserve Bank of India, is finalising a fourth tranche of sovereign gold bonds.
Vegetable prices firmed up in the first fortnight of May as heatwave conditions scorched most parts of the country and traders expect prices to remain volatile, likely affecting consumer inflation this month.
The proposal of SBI to merge its five associate banks with itself and acquire Bharatiya Mahila Bank is in line with the government’s policy of consolidation as the country needs global-sized institutions, Finance Minister Arun Jaitley said.
� TOP CORPORATE NEWS The Centre's green panel has given its nod to Reliance Industries for carrying out eight additional exploratory well drilling to ascertain reservoir capacity and commercial viability of hydrocarbons in the block CY-III-D5 in Bay of Bengal off the coast of Tamil Nadu.
Raymond Ltd. is in talks with overseas private equity funds KKR and Blackstone to sell a 20% stake in its branded apparel business to fund its expansion, reports.
Mother Dairy is aiming to surpass INR 10,000 crore turnover milestone in the next three years on rising demand for dairy products, as well as fresh processed fruits & vegetables, reports. SRF Ltd is planning to invest INR 3,500 crore over the next four years, 70% of which would go into its fast-growing chemicals business, to cater to rising global demand, MD Ashish Bharat Ram has been quoted as saying.
Coal India Limited would tentatively offer over 79 million tonnes of coal for e-auction for power producers and also for non-power sector consumers in the August to March period of the current fiscal. The Delhi government will soon issue fresh directions to the NTPC-run Badarpur thermal power plant to come up with an action plan for disposing of flyash, a major source of air pollution in summer.
Bharat Heavy Electricals Limited said that it has commissioned a 660 Mw supercritical thermal unit in Maharashtra.
SAIL will spend around Rs. 60 billion this fiscal on various modernisation and expansion programmes as well as on research and development initiatives. The government has declined Reliance Power request to let it mortgage coal blocks attached to Sasan Ultra Mega Power Project in Madhya Pradesh to lenders of the plant that include banks from the US, China and Singapore. Coal India Limited consultancy arm CMPDI has invited applications from global firms for providing consultancy on formulating bid documents with regard to development of underground coal gasification projects. Bharat Heavy Electronic Limited has bagged a Rs. 16 billion order from a joint-venture company of NTPC and SAIL to set up a coal-based thermal power project in Odisha.
Aurobindo Pharma has received final nod from the US health regulator to manufacture and market its anaesthetic Bupivacaine Hydrochloride injection in the American market.
Piramal Enterprises has decided to demerge its healthcare and financial services businesses to grow the Unrelated divisions separately, marking an important turn in the legacy of the diversified conglomerate.
Indian Oil Corporation Ltd aims to reach a refining capacity of 9-10 million tonne in this fiscal at its 15 million tonne crude oil refinery at Paradeep.
Coal India and NTPC formally inked a joint venture agreement for the revival of now defunct gas based Sindri and Gorakhpur plants of Fertilizer Corporation of India.
Blue Star’s expects an overall growth of 30% during the current financial year. It also plans to invest over Rs. 300 million on new product development as well as its research and design initiatives in the current financial year.
Adani Power said it has shut down four units of 660 mw capacity each out of five units at the Tiroda plant in Maharashtra due to acute water shortage.
Wockhardt Pharma chairperson wants the patent office to fast track grant of patents to
drugs and frame easier policies to encourage clinical research in the country.
Reliance Capital, which has completed five years of partnership with Nippon Life, said it plans to strengthen the association with more products in mutual fund and life insurance spaces going ahead.
Wipro Limited announced partnership with US-based IT firm Xactly Corporation to offer cloud-based solutions to its clients for improving their sales and drive growth. Tata Consultancy Services announced that its client, the National Employment Savings Trust in the UK, has now signed up more than 100,000 employers to its auto-enrolment pension scheme. This also means that the company's insurance vertical will see an uptick in demand. Tata Steel Limited has recalled its order sent to Bombay High Court for a merger plan between group companies - Tata Metaliks and Tata Metaliks DI Pipes with itself. The promoters of Navneet Education Ltd. have made a strategic investment of an undisclosed amount in the Mumbai-based school uniform and supplies company SchoolWear Private Limited.
Havells India is expecting an overall growth of 10% from the newly-launched entrylevel modular switches under the brand name Reo Bliss. UK-based vehicle testing agency Global NCAP awarded zero star rating for the Renault Kwid, Maruti Suzuki Celerio, Maruti Suzuki Eeco, Mahindra Scorpio and Hyundai Eon following a crash test it conducted.
� TOP BANKING AND FINANCIAL NEWS OF THE WEEK Even as the emphasis is shifting towards digital banking channels, high street Indian private sector lenders such as HDFC Bank and Yes Bank , among others are accelerating their branch expansion plans to consolidate their presence at the grassroots before small finance banks dot the local banking landscape and new entities plan their universal banking foray.
When senior banking executives Jaspal Bindra and K Balasubramanian quit their plum overseas jobs to join domestic firms last month, their decision did not raise many
eyebrows. After all, more than three dozen such executives have moved to Indian firms over the past one year, according to industry watchers, as the lure of foreign investment banks waned and opportunities at home expanded.
After nudging State Bank of India, the country's largest lender, to consider a merger with its five associate banks, the government may now look at combining three other state-run lenders — UCO Bank , Bank of India and Indian Overseas Bank — with stronger entities. "There have been some discussions on the merger of these three weak banks with more financially sound lenders.
American Technology giant Apple CEO Tim Cook visits the ICICI Bank’s headquarters and meet the top management of the countries largest private sector lenders.
DBS Bank has appointed the Former Bank of America Executive Mohit Kapoor as of its Technology head in Telangana Hyderabad.
Private Sector Lenders Yes Bank has tied up with Bankbazzar.com , A financial Products listing website to Feature Yes Bank Retail Loans , Home Loans , Car loans on its website , All the products will be integrated over the next two weeks and are scheduled to go live by the end of this month.
Taking ahead agenda for consolidation, the boards of State Bank of India and its five associate banks cleared a proposal for possible merger of associate banks with the parent . SBI will also be taking over Bharatiya Mahila Bank.
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