TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 8569/ 18835. According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 8449 will be small support for Nifty futures and 18367 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 8217 level and Bank Nifty futures can touch 17763 level in next few days. It will be hard support for Nifty futures and Bank Nifty futures. Meanwhile in up trend there is small resistance on 8637 for Nifty futures and 19147 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8892 and 19897 for Bank Nifty futures.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
R2 8849
R1 8644
PP 8542
S1 8440
S2 8235
WEEKLY
R2 9120
R1 8712
PP 8508
S1 8304
S2 7896
MONTHLY
R2 9562
R1 8885
PP 8547
S1 8209
S2 7532
DAILY
R2 19885
R1 19139
PP 18766
S1 18393
S2 17647
WEEKLY
R2 20523
R1 19298
PP 18686
S1 18074
S2 16850
MONTHLY
R2 22016
R1 19896
PP 18835
S1 17775
S2 15654
BANK NIFTY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
8502
8354
8415
8448
BANK NIFTY
18761
18348
18347
18448
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
8622
8066
9071
BANK NIFTY
18779
17347
20852
NSE EQUITY DAILY LEVELS COMPANY NAME
R3
R2
R1
PP
S1
S2
S3
ACC ALBK
EQ EQ
1451 103
1421 98
1406 95
1391 93
1376 91
1361 88
1331 83
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
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
238 906 597 2622 208 184 290 430 733 458 124 4260 366 3803 1004 1433 1170 2918 111 969 332 361 1033 1133 86 741 1960 1398 43714 4591 302 201 76. 451 1044 470 47 317 135 863 425 73 264 227
234 893 587 2595 197 176 284 425 721 446 119 4177 359 3765 975 1398 1148 2831 109 951 324 351 1013 1115 83 726 1890 1379 42949 4532 292 193 75 433 1031 454 46 304 133 851 413 72 259 213
231 886 583 2548 292 172 280 422 713 439 118 4144 356 3745 958 1363 1126 2744 107 933 317 341 994 1097 80 710 1819 1360 42184 4473 283 184 74 415 1018 437 45 291 131 839 400 71 253 198
230 880 578 2517 285 168 277 420 709 435 115 4094 352 3727 946 1341 1112 2711 106 923 314 336 983 1091 78 700 1794 1348 41929 4448 279 180 73 405 1010 430 44 286 130 834 395 70 250 193
227 873 574 2471 280 164 274 417 703 427 113 4061 349 3707 929 1328 1103 2656 105 914 309 330 974 1080 77 695 1949 1341 41419 4414 273 175 72 396 1005 421 43 278 129 827 388 69 248 184
225 867 569 2440 273 159 271 415 698 423 111 4011 345 3689 917 1307 1090 2624 104 904 306 325 963 1073 75 685 1723 1329 41164 4389 270 171 71 387 997 414 42 273 128 822 382 68 245 179
221 854 554 2363 165 151 265 410 686 412 107 3928 337 3657 888 1293 1081 2569 103 896 301 320 955 1062 74 680 1678 1322 40654 4355 264 166 70 378 992 405 41 265 126 815 376 67 242 170
SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK
TOP 15 ACHIEVERS
SR.NO
SCRIPT NAME
//
PREV CLOSE
CMP
% CHANGE
SR.NO
TOP 15 LOOSERS
SCRIPT NAME
PREV CLOSE
CMP
% CHANGE
253.40
177.10
-30.11
11.50
9.60
-16.52
1
UNIPLY INDUS
102.80
144.40
+40.47
1
2
SUN TV NETWORK
258.05
336.80
+30.52
2
CASTEX TECHNOLOGI J P ASSOCIATES
3
JET AIRWAYS
324.25
400.15
+23.41
3
JSW ENERGY LTD
98.90
84.30
-14.76
4
JK TYRES
96.30
114.60
+19.00
4
RALLIS INDIA
255.80
218.25
-14.68
5
CEAT LTD
778.75
915.25
+17.52
5
HSIL LTD
344.80
301.65
-12.51
6
BANK OF BARODA
152.70
177.50
+16.24
6
TATA STEEL
280.40
246.90
-11.95
7
JK CEMEMT
603.50
682.55
+13.10
7
JSW HOLDINGS
989.40
872.55
-11.81
8
EMAMI LTD
1311
+13.05
8
NMDC LTD
114.50
101.90
-11.00
9
DCM LTD
102.70
115.95
+12.90
9
TVS MOTORS LTD
263.70
238
-9.75
10
MRF LTD
36358
40839
+12.32
10
EICHER MOTORS
21109
19071
-9.66
11
BALRAMPUR CHINI
45.70
50.40
+10.28
11
EVEREADY INDUS
364.15
329.55
-9.50
12
BAJAJ FINSERV LTD
1677
1845.70 +10.06
12
GITANJLI GEMS
44.70
41.50
-7.16
13
INDIA CEMENT LTD
85.05
98.60
+8.80
13
LUPIN LTD
1823.95
1696.70
-6.98
14
LIYOD ELECTRIC
224.70
244.40
+8.77
14
263.35
246.15
-6.53
15
PUNJAB BN
139.05
151
+8.59
15
POWER FINANCE CO SHALIMAR PAINTS
135.25
126.55
-6.43
1159.70
NATIONAL
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION ) 1.
COALINDIA - COALINDIA MAY CORRECT THIS WEEK UPTO THE LEVEL OF 102/100 IF IT BREAKS 104 LEVEL .
2.
TATASTEEL - TATASTEEL TATASTEEL MAY CORRECT THIS WEEK FURTHER IF IT TREADES BELOW 245. 240/238 ARE THE SUPPORT LEVEL FOR THE WEEK.
3.
SAIL - SAIL CAN CONTINUE ITS DOWNTREND IF IT BREAKS THE LEVEL OF 56 AND 53/50 WOULD BE THE SUPPORT LEVEL.
4.
ALBK - ALBK RECOVERD LAST WEEK FROM THE LEVEL OF 81 AND IF THIS WEEK IT TREADS ABOVE 93.50 LEVELS THEN 96/98 LEVELS ARE POSSIBLE.
5.
PNB - IF PNB BREAKS THE 149 LEVEL THEN IT MAY CORRECT UPTO THE LEVEL OF 145/142.
CURRENCY MARKET USDINR
R2
R1
PP
S1
S2
DAILY
65.05
64.65
64.45
64.25
63.80
WEEKLY
R2 66.25
R1 65.00
PP 64.35
S1 63.75
S2 62.50
MONTHLY
R2 66.70
R1 65.10
PP 64.30
S1 63.50
S2 61.90
EURINR
R2
R1
PP
S1
S2
DAILY
72.10
71.10
70.60
70.10
69.15
WEEKLY
R2 74.90
R1 72.25
PP 70.90
S1 66.90
S2 63.85
MONTHLY
R2 78.75
R1 73.25
PP 70.50
S1 67.75
S2 62.25
JPYINR
R2
R1
PP
S1
S2
DAILY
52.60
52.15
51.90
51.65
51.20
WEEKLY
R2 54.10
R1 52.70
PP 52.05
S1 51.35
S2 49.95
MONTHLY
R2 54.10
R1 52.70
PP 52.05
S1 51.35
S2 49.95
GBPINR
R2
R1
PP
S1
S2
DAILY
101.60
100.75
100.30
99.90
99.05
WEEKLY
R2 102.60
R1 101.00
PP 100.25
S1 99.45
S2 97.85
MONTHLY
R2 108.05
R1 102.60
PP 99.90
S1 97.15
S2 91.70
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ SEBI cancels registration of Sahara Mutual Fund: Reports - Sebi on Tuesday cancelled Sahara Mutual Fund's certificate of registration on expiry of a six-month period with effect from July 28, 2015. The market regulator said Sahara Mutual Fund was no longer fit and proper to carry out this business and ordered transfer of its operations to another fund house. Sebi had ordered refund of over Rs 24,000 crore by two Sahara entities. Recently, Sebi had also cancelled the portfolio management licence of a Sahara firm.
✍ RIL to consider sale of US shale gas stake: Reports - Reliance Industries may be considering exiting its investments in US shale gas as part of a strategic review of its assets, says a report. RIL has invested more than $8 billion in its unconventional gas joint ventures through the end of March, according to its annual earnings report.The latest quarterly numbers show shale gas revenues and EBIDTA declined qoq owing to fall in gas prices, an IIFL report stated.Selling the shale assets would allow Reliance to put its capital to more productive uses, given the gas market may not improve for some years, the report stated. Reliance Industries’ returns on average capital employed on its shale gas business in the US has turned negative in the June quarter due to falling crude oil prices which is making shale gas production unviable for all US players, says a report in BS. So far, RIL has invested $8.5 billion in its three shale gas joint ventures in that country, the report added.Last week RIL announced revenues at Rs. 65,817cr, lower by 31.7% yoy driven by sharp fall in crude oil prices causing weak refining and petchem segment salesOPM improved by 633bps yoy but fell 126bps qoq; yoy increase was led by 462bps and 423bps rise in petchem and refining segment EBIT margins respectively, sequential fall was led by 134bps fall in refining EBIT margins. GRMs at US$10.4/bbl was higher than expectations, GRMs saw 19.5% yoy and 3% qoq increase and was substantially higher than the benchmarks. PAT at Rs. 6,318cr was higher than IIFL estimates owing to better than expected refining and petchem segment performance.
✍ Amtek Auto plans to raise funds via non convertible securities - Amtek Auto Ltd has announced that the Board of Directors of the Company at its meeting held on July 28, 2015, has approved the followings.Raising of funds through various means i.e. issue of equity and convertible/non convertible securities or other equity linked securities. Issuance of Equity shares to Promoters of the Company upon conversion of their unsecured loan by way of Preferential Issue.The decisions of the board are subject to the approval of shareholders of the Company and the Company will, in this regard, call an extraordinary general meeting of its shareholders.
✍ Fall in steel prices hurt JSW Steel, posts Q1 cons net loss of Rs.107 crore - JSW Steel Ltd has posted a net profit / (loss) after taxes, minority interest and share of profit / (loss) of associates of Rs. (1068.10) million for the quarter ended June 30, 2015 as compared to net
profit of Rs. 6564.90 million for the quarter ended June 30, 2014. Total Income has decreased from Rs. 133077.40 mn for the quarter ended June 30, 2014 to Rs. 116019.90 mn for the quarter ended June 30, 2015.
✍ Castrol India Q2 net profit up 48.3% at Rs. 184.5 crore - Castrol India Ltd has announced the following results for the quarter ended June 30, 2015. The company has posted a net profit of Rs. 184.5 crore for the quarter ended June 30, 2015 as compared to Rs. 124.4 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 923.9 crore for the quarter ended June 30, 2014 to Rs. 938.8 crore for the quarter ended June 30, 2015. The company has decided to pay an Interim Dividend of Rs. 4/- per Equity Share for the year ending December 31, 2015.
✍ General Motors plans to invest $1billion in India; to shut shop at Halol - General Motors, the third largest automaker in the world by sales, has decided to shut down its manufacturing unit at Halol, Gujarat. It has reportedly announced that it will invest $1billion in India. This investment is part of a larger $5billion package GM has allotted for strengthening its base and enhance global growth, through development of an all-new vehicle family. For India, the investment will be pumped in Chevrolet's Talegaon plant, near Pune. “This new vehicle family will feature advanced customer-facing technologies focused on connectivity, safety and fuel efficiency delivered at a compelling value,” said Mark Reuss, GM executive vice-president, Global Product Development, Purchasing and Supply Chain. “It will be a combination of content and value not offered previously by any automaker in these markets that are poised for growth.” Talegaon plant’s capacity is to be increased from 130,000 units per annum to 220,000 units by 2025 to help position it as a global export hub for the company. GM India also plans to launch the Trailblazer SUV by October this year and the Spin MPV by early 2017. The third new vehicle will be the new Beat hatchback and notchback.
✍ Nava Bharat Ventures hits 20% upper circuit - Shares of Nava Bharat Ventures Ltd hit 20% upper circuit at Rs. 169 after the company has achieved Financial Closure for Zambia Coal & Power Project. The stock has hit a high of Rs. 169 and a low of Rs. 141. Total traded quantity on the counter stood at over 0.41 lk shares.
✍ YES Bank Q1 net profit at Rs.551 crore; Net NPA At 0.13% - Yes Bank Ltd has announced the following Unaudited Standalone results for the quarter ended June 30, 2015. 1. Net Profit of Rs. 551.2 crore in Q1FY16; y-o-y growth of 27.7%. NIM expanded to 3.3% in Q1FY16 from 3.0% in Q1FY15 2. Net Interest Income at Rs. 1,059.8 crore for Q1FY16; y-o-y growth of 42.2%. 3. Y-o-Y growth in CASA of 31.2%; CASA Ratio improves steadily to 23.4% from 22.3% a year ago. SA deposits posted robust growth of 45.7% y-o-y.
4. CASA+Retail TDs crossed 50% of Total Deposits to 51.7% as at June 30, 2015, up from 43.5% a year ago 5. Total Capital Adequacy as per Basel III stands at 15.0%, as at June 30, 2015 Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “YES BANK has begun its 12th year of operations and has posted another satisfactory quarter of consistent results, which is reflected in strong loan growth, NIM expansion and continued resilience in asset quality. YES BANK has continued its uncompromising commitment towards quality, sustainability and innovation which is evident through multiple prestigious awards garnered by the Bank at international platforms across categories of Business Sustainability, Information Security and Cash Management. Further, the RBI approval for setting up IFSC unit in GIFT city in Gujarat will significantly enhance YES BANK‟s International Banking product offerings for the BANK‟s corporate clientele while enabling long term Foreign Currency Fund raising for the Bank at competitive rates. Also, RBI‟s recent approval for the Bank to act as a Primary Dealer will further complete our product suite in becoming a complete Rupee Debt House” ✍ Tata Motors spurts on block deal - Tata Motors strengthened its gain in the early noon deals and rallied to a high of Rs. 377 on the NSE, on the back of huge block deal. According to TV reports, the counter has witnessed a huge block deal of around 5.3 lakh shares at Rs. 375 on the NSE. Now, Tata Motors is up 1.3 percent at Rs. 375, and has seen massive trades of around 4.3 million shares. ✍ Allahabad Bank Q1 net profit up 30.1% at Rs. 147 crore - Allahabad Bank has announced the following Unaudited Standalone results for the quarter ended June 30, 2015. The Bank has posted a net profit of Rs. 146.8 crore for the quarter ended June 30, 2015 as compared to Rs. 112.7 crore for the quarter ended June 30, 2014. Total Income has decreased from Rs. 5518 crore for the quarter ended June 30, 2014 to Rs. 5396.4 crore for the quarter ended June 30, 2015. ✍ IRB Infra achieves financial closure for Rs.1,400 cr Project Finance - IRB Infrastructure Developers Ltd has announced that Kaithal Tollway Pvt. Ltd. - wholly-owned Subsidiary of the Company, has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project finance of Rs. 1,400 Crore. The total cost of this project is Rs. 2290 Crore, out of which Viability Gap Funding from NHAI will be Rs. 234 crores, equity contribution by the Company will be approx. Rs. 656 Crore and remaining will be funded through Project finance of Rs. 1,400 Crore. The average cost of debt of this Project finance is approx. 11.75% p.a. The concession period for the project is 27 years. A Consortium of Lenders comprising of IDBI Bank Limited - Lead Institution, India Infrastructure Finance Company Ltd. , IDFC Limited, Indian Overseas Bank, Union Bank of India, Bank of Baroda, Canara Bank and Bank of Maharashtra have financed this project. ✍ Taj Mahal registers increase in tourist footfalls in 2014 - Taj Mahal, a centrally protected monument, is looked after by the Archaeological Survey of India. There has been no decrease in the number of total tourist foot-falls in the past two years. 6072501 number of domestic and
foreign tourist visits have been recorded in 2014 against 5835342 in 2013. No guidelines have been issued by Archaeological Survey of India on the issue pertaining to religious grounds. This information was given by the Minister of State for Tourism , Culture and Civil Aviation, Dr Mahesh Sharma in reply to an unstarred question today in Lok Sabha. ✍ Axis bank allows rate cut of 25 bps on bulk deposit - Axis bank declares a rate cut of upto 0.25 percent on bulk deposit in three different maturities.The rate cut in deposits is applicable only on the bulk deposit of over Rs. 5 crore. Under nine months rates are been chalked by 0.25 percent to 7.50 percent. For the last few month, the interest rate system has seen a downside trend, which has faced the RBI rate cuts thrice by a cumulative 0.75 percent. However, bankers are not satisfied by the interest rate system, as credit growth is low and carries excess liquidity. Stock Price: The stock of Axis bank was trading marginally up at Rs. 561 from its previous close of Rs. 555.75. It has hit a high of Rs. 563.80 and low of Rs. 550.40. Around 5.65 lakh shares have been exchanged on BSE, against two weeks average quantity of 6.75 lakh shares. ✍ Union Bank gains 2%; posts 22% dip in net profit in Q1 - Union Bank of India recovered from a low of Rs. 151, to end 2 percent higher at Rs. 157, after the bank posted a net profit of Rs. 518.78 crore for the quarter ended June 2015 when compared with Rs. 443.77 crore at the end of March 2015 quarter. Whereas, total income increased by 5.8 percent to Rs. 9,043 crore from Rs. 8,548 crore. The stock hit a high of Rs. 161 and a low of Rs. 151.35 on BSE today. Total traded quantity on the counter stood at over 15.58 lk shares on BSE. ✍ Adani Enterprises plans to raise Rs. 6000 crore - Adani Enterprises is planning to raise up to Rs. 6,000 crore through issuance of securities, says report. The company is also planning to raise its borrowing limit to up to Rs 12,000 crore. The company will approach its shareholders with resolutions at the company's AGM. The special resolution seeks to empower the Board of Directors to undertake a Qualified Institutional Placement with Qualified Institutional Buyers as defined by SEBI, the company added. ✍ Dish TV Q1 net profit up 55.3% at Rs. 54.2 crore - Dish TV India Ltd has announced the following results for the quarter ended June 30, 2015. Thecompany has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 542.10 million for the quarter ended June 30, 2015 as compared to net loss of Rs. 149.70 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 6,322.60 million for the quarter ended June 30, 2014 to Rs. 7,629 million for the quarter ended June 30, 2015. ✍ Syndicate Bank net profit dips 38%, stands at Rs. 302 crore - State-run Syndicate Bank has declared its results for the quarter that ended on 30th June 2015. The bank reported a 38% decline in the net profit, from Rs. 485 crore last year to Rs. 302 crore in Q1. Net Interest Income jumped 5% from Rs. 1351 crore to Rs. 1412 crore. Gross NPA stood at 3.72% in Q1 while the net NPA stood 2.36%. Capital Adequacy Ratio stood at 10.17% as against 10.54% while Provision Coverage Ratio stood at 63.24% as on June 30.
✍ Bank Of India Q1 net profit at Rs. 129.7 crore; Gross NPA at 6.8% - Bank Of India has announced the following results for the quarter for the period ended June 30, 2015. The bank booked a net profit of Rs. 129.7 crore for the quarter ended June 2015, as against Rs. 805.7 crore in a year ago period. Total Income is Rs. 11,659.1 crore for the quarter ended June 30, 2015 where as the same was at Rs. 11,328.7 crore for the quarter ended June 30, 2014. During the period under review, the company's Net NPA stood at 4.11% Vs 3.36% for the above mentioned period. The bank reported Gross NPA at 5.53% Vs 5.39% in a year ago period. ✍ Thermax Q1 net profit at Rs. 61.6 crore; sales up 19.3% - Thermax Ltd has announced the following Unaudited Standalone results for the quarter ended June 30, 2015. The Company has posted a net profit of Rs. 61.6 crore for the quarter ended June 30, 2015 as compared to Rs. 41.4 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 858.5 crore for the quarter ended June 30, 2014 to Rs. 1,018 crore for the quarter ended June 30, 2015. The company reported sales up 19.3% at Rs. 991 crore as compared to Rs. 831 crore in a year ago period. ✍ TVS Motor advances on future growth plans - TVS Motor Company advanced to a high of Rs. 239, before ending flat at Rs. 235, on the back of future growth plans. According to media reports, the company plans to launch three new models - a new four-stroke Moped, a new TVS Victor and Apache 200cc, in the next six months. ✍ LIC reduces stake in Maruti to 6.22% - LIC has sold over 2% stake in Maruti Suzuki India reducing its holding to 6.22 per cent in the the country's largest car maker, according to reports. A report says that LIC has sold 61,31,781 shares over a period of two years between May 17, 2013 and July 29, 2015 in the open market. ✍ Vijaya Bank Q1 net profit at Rs.142.6 crore - Vijaya Bank Ltd has announced the following results for the quarter for the period ended June 30, 2015. The bank booked 11.70% drop in Q1 standalone net profit of Rs. 142.6 crore when compared with Rs.161.5 crore in the corresponding quarter a year ago. During the period under review, the bank's Gross NPA stood at 3.39% Vs 2.78% for the above mentioned period. ✍ Kansai Nerolac Q1 net profit at Rs. 94 crore - Kansai Nerolac Ltd has posted results for the first quarter ended 30th June, 2015. The net profit for the quarter stands at Rs.94 crore. The total income for the quarter was at Rs.1,000 crore. ✍ Dena Bank Q1 PAT at Rs. 15.2 crore;Gross NPA at 6.2% - Dena Bank Ltd posted a net profit of Rs. 151.60 million for the quarter ended June 30, 2015 as compared to Rs. 815.20 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 28245.80 million for the quarter ended June 30, 2014 to Rs. 29148.70 mn for the quarter ended June 30, 2015.. The gross NPA for Q1 stands at 6.2%. ✍ US economy posts 2.3% growth rate in Q2 - US economic growth accelerated in the second quarter. Gross domestic product expanded at a 2.3% annual rate, the Commerce Department reportedly said on Thursday. The economy actually expanded at a 0.6% pace in the
first three months of the year. The Fed described the economy as expanding "moderately" while upgrading its view of the labor market. � Bharti Airtel up on expanding its 4G network - Bharti Airtel is trading on a positive note on expanding its 4G reach in the country. According to media reports, the telecom major is the first company to roll out latest 4G technology in Meghalaya's capital Shillong, in the North East. The stock so far has touched a high of Rs. 423, and is now up a percent at Rs. 421. The counter has seen trades of around 16,000 shares as against the two-week daily average volume of around 219,000 shares on the BSE.
Top Economy news In a move to quell fear of the investors regarding p-notes, Finance Minister Arun Jaitley said that the government will not take any "knee-jerk" reactions that will affect the investment climate of the country.
The government said that it has set a target to award road projects worth Rs. 1.26 lakh crore during the current fiscal.
The Bharatiya Janata Party-led government in Maharashtra has proposed exemption of small vehicles, including cars and utility vehicles, from toll tax on road projects over Rs 200 crore implemented on build-operate-transfer basis. The Indian basket of crude oil price has plummeted to $54.41 per barrel, its lowest in four months, on the back of multiple factors, including a contraction in the manufacturing sector in China, the world’s second-largest consumer of crude after the US. A stronger US dollar has also made non-US investors to sell commodities, pressuring prices already impacted by the global oversupply concerns from the just-concluded Iranian nuclear deal.
Indian banks may be able to check new bad loans or slippages, global rating company Moody's said. Moody's said. "There was a 60:40 split between respondents expecting improvements in Indian banks' asset quality in the financial year ending March 2016 ."
Reserve Bank of India Deputy Governor S S Mundra said the latest April-June earnings from state-owned lenders showed "stability" in terms of non-performing assets, but added the central bank would remain "watchful."
In a repeat of events a year ago, India is unlikely to ratify the World Trade Organization trade facilitation agreement, even as it has decided to seek a permanent solution on the food stock holding issue at the coming 10th ministerial meeting in Nairobi, Kenya, in December. Onion prices have shot up by up to 200 per cent since the start of this month in some top wholesale markets of Nashik, one of the biggest onion production centres in the country, and by more than 40 per cent in the last two trading sessions, as supplies have plummeted.
Power projects with a collective capacity of 46,000 MW are facing viability issues due to lack of long term energy buyers, inadequate fuel supply, and aggressive bidding to win projects and coal blocks, Crisil ratings said. Indian banks will continue to reel under the impact of bad loans in the current financial year, although new NPAs may decline, says a Moody's report. In its third bi-monthly monetary policy review to be announced next month, RBI is likely to announce liquidity tightening steps like longer tenure term reverse repos, which are used to suck out liquidity from the system. Manila-headquartered Asian Development Bank inked US$300m loan pact with the government to support the National Urban Health Mission.
Mobile telephony services may have been given the status of essential services in 2013, but telecom operators continue to battle cell site closures across India. With less than a week left for the RBI's next monetary policy, Moody's today said there is room for rate cut and expressed hope that the central bank would reduce it by 0.25 per cent to push growth.
The proposed international corridor INSTC is expected to slash time for transportation of cargo to Russia from India to about 30 days, just half of the time presently taken, government today said.
The ZyFin Consumer Outlook Index of India, a leading Macro Analytics firm focused on emerging markets has registered a score of 47.3 in June 2015 as compared to 46.5 in the previous month.
The Cabinet has approved the Consumer Protection Bill, along with foreign investments in alternative investment funds. Along with this, another big development has been that the
Cabinet has given its approval to the amendments of the GST constitutional amendment bill, thus inching one step closer to making GST a reality in India. Central government agencies SFAC and Nafed have decided to move their onion stocks from Nashik to Delhi as retail prices have almost trebled within a month. These onions will be sold at Safal and Delhi Milk Scheme outlets, and will be cheaper than market rates by Rs 10 a kg.
A pickup in monsoon rains, along with a fall in gold prices, is expected to drive purchase of the yellow metal in India, the world's biggest consumer. Demand for gold jewellery, coins and bars is expected to increase to 900-1,000 tonne in 2015 from last year's 842.7 tonne, said Somasundaram PR, managing director, World Gold Council's India operations.
Mobile telephony services may have been given the status of essential services in 2013, but telecom operators continue to battle cell site closures across India. Government received Rs10.3bn in upfront payment from auction and allotment of coal blocks that held earlier this year. In a written reply, Coal and Power Minister informed the Lok Sabha that the upfront payment from auction of coal blocks is Rs3.42bn. Moody's cautioned against tampering with the independence of the Reserve Bank of India in deciding on interest rates saying it would hurt India's economic prospects. With less than a week left for the RBI's next monetary policy, Moody's said there is room for rate cut and expressed hope that the central bank would reduce it by 0.25% to push growth.
The government is planning to print 15 crore currency notes of Re 1 denomination every year with effect from January 1, 2015, Minister of State for Finance Jayant Sinha said in a written reply in Rajya Sabha.
ICRA expects that given the continued sugar surplus scenario in the domestic market and limited possibility of exports in face of falling international sugar prices, domestic sugar prices will continue to remain under pressure in the near term. Sugar mills are likely to liquidate their sugar stocks at low prices following pressure from various state governments to clear the high cane arrears. Thus, in the domestic market, high cane costs along with low sugar realizations continue to weigh heavily on the profitability and liquidity of the sugar mills.
Government is looking at possibility of enhancing the capital allocation for public sector banks during this fiscal, Finance Minister Arun Jaitley said to the Rajya Sabha.
A report published by the National Sample Survey Office (NSSO) on Thursday revealed a sharp 24 percentage points drop in the number of rural households using kerosene for lighting, and an equal increase in electrified households since 1999-2000, the date of the last such relevant survey.
Top Corporate News The Food and Drugs Administration of Maharashtra told the Bombay High Court that Maggi noodles manufacturer Nestle India violated laws with the lead level in the popular instant snack being above the permissible limit.
Gulf carrier Qatar Airways on Tuesday said it is in talks with IndiGo, the market leader in India's aviation sector, to buy stakes in the airlines.
Amtek Auto Ltd has announced that the Board of Directors of the Company at its meeting held on July 28, 2015, has approved to raise funds through various means i.e. issue of equity and convertible/non convertible securities or other equity linked securities. Qatar Airways said it is in talks with IndiGo to buy stakes in the airlines. It denied news reports that it is holding discussions for a "commercial stake" or engage in a "partnership" with SpiceJet. An unprecedented surge in imports is hurting and causing harm to the domestic steel industry, said Sajjan Jindal, chairman and managing director, JSW Steel. The Intellectual Property Appellate Board has allowed a petition of Hindustan Unilever Ltd for early hearing and asked the registry to number a counter appeal filed by Kerala-based Thahir Group, in a dispute related to the latter's trade mark 'Sun Plus'. PVR Ltd will be installing Dolby Atmos in 50 of its cinema screens across the country over the next two years. When completed, this will be one of the largest rollouts of Dolby Atmos screens by any multiplex chain in India. Mahindra Holidays & Resorts India Ltd will add 700 units in the next 2-3 years. It would cost around Rs5.25bn for the proposed expansion. An overseas wholly-owned subsidiary of Hero Motocorp will acquire ownership of certain tangible and intangible assets of Erik Buell Racing for a consideration of US$2.8m. Adani Enterprises said it plans to raise up to Rs60bn through issuance of securities to sustain rapid business growth.
R P P Infra Projects Ltd has bagged two orders worth Rs728m from Chennai Corporation. The project is funded by World Bank for Construction of Integrated Storm Water Drain in Coovum watershed. The Maharashtra government is working on a proposal to offer equity to NTPC in its power generation company MahaGenco. Glenmark Pharmaceuticals' proposed generic version of Bayer AG's Finacea, a gel for treating the common skin condition rosacea, infringes Bayer's patent, a US court ruled. Saddled with bad loans, PNB said it has reported to RBI 400 'wilful defaulters', and plans to sell Non Performing Assets worth up to Rs30bn to ARCs in the current fiscal. ONGC Petro additions Ltd has begun talks for stake sale to strategic partners, to Petrochemical Industries Company.
Budget carrier SpiceJet is looking at fresh aircraft orders as part of its growth plans, its finance chief Kiran Koteshwar said.
Sun Pharmaceutical Industries is cutting staff again as it digests the $3.2-billion acquisition of Ranbaxy LaboratoriesBSE 5.63 %. Facing the axe this time are research and development staff, a move that comes a month after about 150 senior executives were asked to leave.
Lincoln Pharmaceuticals Ltd, company is based at Ahmedabad and engaged in Manufacturing and Export of Pharmaceuticals formulations under various Therapeutic product group, plant duly complied with WHO-GMP guidelines. The company is exporting more than 45 countries along with Domestic market in more than 20 states in India. Essar Oil has received approvals from National Stock Exchange and BSE to delist its shares, company Managing Director & CEO said. Delisting the company would give promoter Ruia borthers, greater flexibility and less regulatory scrutiny while selling a stake in the refiner. Short-term policy direction of the government in the last 3-5 years towards the infrastructure sector was posing a bigger risk to the growth of sector, which otherwise had done better since 1990, said Srei Infrastructure Finance Ltd chairman and managing director. Maharashtra's Food and Drugs Administration argued in the Bombay High Court that Nestle India had burnt several tonnes of Maggi after the state's ban order was imposed on this food snack, instead of going in for a re-test of the samples. After turning around its core battery business and cornering a significant chunk in the LED market, Eveready Industries managing director is set to diversify further and enter the home and kitchen appliances market.
IndiGo issued a statement saying it is holding preliminary discussions with Gulf carrier Qatar Airways "to explore potential marketing arrangements" and not for selling stakes. It dismissed media reports suggesting a stake sale as "baseless". SpiceJet is working on a fleet expansion plan and is in talks with plane makers Boeing and Airbus to acquire between 80-120 planes over the next eight years. General Motors announced closure of its Halol plant and a plan to invest US$1bn to double market share by 2020. The money will be used primarily to expand the capacity at Talegaon plant from 130,000 to 220,000 units by 2025. Sundaram Finance Ltd has acquired the entire 26% held by Royal & Sun Alliance Insurance PLC in Royal Sundaram Alliance Insurance Company Limited. Total consideration was around Rs4.5bn. Maruti Suzuki India plans to accelerate new product launches in the country in line with its vision of selling 2m cars per annum by 2020. Alstom T&D India will supply transformers for Neyveli Thermal Power Station. The company has bagged the order, which is estimated to be around Rs800m. The US-based Purdue University has signed a Memorandum of Understanding with Dr Reddy's Laboratories Limited to strengthen pharmaceutical research and development. BPCL is set to import a rare cargo of Sokol crude from Russia's Far East as it takes advantage of a regional glut to secure cheaper oil. TVS Motor has lined up three major launches, a new four-stroke Moped, a new TVS Victor and Apache 200cc, in the next six months. Reliance Power has challenged the government decision of cancelling allocation of Chhatrasal coal block to its subsidiary Sasan Power Ltd. In a bid to make its reach deeper and wider, Essar Hypermart, the retail arm of Essar Steel, announced the launch of its online platform www.ehypermart.in that will make the alloy available to its customers online. Thomas Cook has acquired Luxe Asia, a destination management company in Sri Lanka, to grow its overseas business. The company did not disclose the deal size, which was carried out through its Sri Lankan subsidiary. Gateway Distriparks said it is expanding footprint in new geographical areas as it has acquired about 48 acres land at the Krishnapatnam Port near Nellore in Andhra Pradesh for setting up a container freight station and warehouses. In six weeks Mahindra & Mahindra would be introducing its second all-new product when it launches the mini sports utility vehicle TUV3OO to challenge the Ford Ecosport in the sub-4 meter segment. Bharti Airtel rolled out latest 4G technology in Meghalaya's capital Shillong, the first in North East.
Ahead of launching commercial operations of 4G services, Reliance Jio Infocomm Ltd, the telecom arm of Reliance Industries Ltd, plans to raise Rs35bn debt to fund roll-out expenses. Kansai Nerolac said that it would invest Rs2.2bn to set up a manufacturing unit in Punjab and a global R&D centre at Navi Mumbai. BSNL will invest Rs60bn over the next three years to set up some 40,000 Wi-Fi hotspots across the country, its chairman-cum-managing director said. Indoco Remedies Ltd said it is looking at an investment of Rs1.25bn for expansion of its sterile ophthalmic facility at Goa and for setting up a greenfield API facility at Patalganga in Maharashtra. Nava Bharat Ventures Ltd has announced it has achieved financial closure for its step-down subsidiary, Maamba Collieres Ltd, an integrated coal and power project in Zambia, estimated to cost US$828m.
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