TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - The market has kick-started in positive trend on Monday Nifty was up 46 points or 0.67 percent at 7468.75 The mixed trend seen In Europe and Asian markets. The Gain in the Indexes Followed on Europe Market and US Market that surge approx 1 per cent on last Friday after European Central Bank said to easing monetary policy in current fiscal,crude oil prices also rebounding. Investors also remained disappoint over market volatility. "On Wednesday market opened strong following positive Global cues, Nifty Open up 33.60 points or 0.4 percent at 7469.75. Asian equity markets followed their Wall Street peers as investors cheered strong European data, and the OPEC Countries also called meeting. Hope to cut the production of Crude oil. pause in the greenback's rally and higher oil prices. Going forward, if the Nifty manages to sustain above the 7550 mark then we may witness a continuation of this move towards 76007750 levels. On the other hand, 7550-7480 are now seen as important Support levels, The major resistance for Nifty is 7680 if the Nifty able to meet that point we could find the comfortable zone for Nifty to move in the continues trend for Next week. The Resistance for next week is 7680-8010 and the Support for Next week for Nifty50 is 7400-7350.
BANK NIFTY : - The Bank Nifty open in Positive trend on Monday trading session at 15667 up by 170 points or 0.8 per cent Above . The Bank Nifty is currently trading at 15470 up by 27.75 point or 0.06 per cent. The The Bank of Japan adopted negative interest rates for the first time at the end of its two-day policy
review on Friday. The Bank Nifty is seems Strong for Next week also. It can cross the level of
17000. The Strong Resistance for Bank Nifty is 15600-15800 And the Banking Nifty Strong support is 15460-15330 . If the Bank Nifty able to break the level of 16600 we may witnessed the 16000-16200 level For Next week.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
R2
R1
PP
S1
S2
7680
7515
7350
7020
R2
R1
PP
S1
S2
8010
7680
7515
7350
7020
R2
R1
PP
S1
S2
9782
8322
7592
6862
5402
8010
WEEKLY
MONTHLY
BANK NIFTY DAILY
R2
R1
PP
S1
S2
15822
15404
14986
14150
R2
R1
PP
S1
S2
17084
15992
15446
14900
13808
R2
R1
PP
S1
S2
22711
18091
15781
13471
8851
16658
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
7548
7715
7850
8110
BANK NIFTY
15735
16420
16825
17560
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
7250
7990
8280
BANK NIFTY
14880
17540
19150
PATTERN FORMATION ( NIFTY AND BANK NIFTY )
Depiction of Chart On the Above given weekly chart Applied the 200 days Moving average along with 50 days Exponential moving Average. The Moving average lag the current price action because they are based on past prices longer the time period the greater the lag of Moving Average. Thus a 200-day MA will have a much greater degree of lag than a Less-days MA because it contains prices for the past 200 days. With breaks above and below this moving average considered to be important trading signals.for Buying or Selling. MA also impart important trading signals on their own, .While on the Above given Chart EMA is About to cross over the MA which is a early signal for Bullish movement for Nifty . The global market also in Support for Bull movement, The privilege for Nifty50 to give gap-up opening in next week. So we can expect that if the Nifty is crossing the level of 7600 it can make the high of 77650-7680 for Next Week. Weekly Support of Nifty Is 7450-7500 And Resistance is 7600-7650.
BANK NIFTY MACD
Details of Chart On the Above given weekly chart of bank Nifty applied 200 days Moving Average along with 50 days Exponential moving Average . And the both are the indicators on Bull movement for Bank Nifty. After long time the Bank Nifty has seen the Near level of 16900. The market is now in good shape so we could expect the handsome return from the Bank Nifty for Next week. Hope from Banking industry is Also good for next week, so we are assuming further movement of Bank Nifty The Crucial level for Banking Nifty is 15600-15800 if the Nifty able to meet that target we can Expect the Bank Nifty 16000 level near next week. we Still bullish on bank Nifty. The major Resistance for Nifty Is 15800-16150 And the Support for Banking Nifty is 15400-15320.
NSE EQUITY DAILY LEVELS COMPANY NAME
ACC ALBK 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 INFY BANK 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 EQ EQ
R2
R1
PP
S1
S2
1277 55 197 881 419 2368 134 101 14 303 589 335 100 3214 377 3489 880 1209 1059 2649 72 828 242 329 957 1194 68 158 1131 1262 36328 4248 230 117 65 399 1053 491 52 189 72 904 349 61 262 137
1264 54 196 873 413 2345 129 100 139 295 584 328 98 3161 372 3441 872 1190 1053 2605 71 838 235 323 944 1180 66 156 1115 1246 35977 4171 227 114 63 391 1044 480 51 184 69 891 342 61 255 133
1240 52 194 866 403 2304 126 98 137 288 581 316 95 3066 367 3396 857 1167 1044 2523 70 809 227 319 922 1155 63 155 1092 1224 35638 4047 224 110 62 380 1031 466 50 181 68 865 333 60 251 127
1227 51 193 858 397 2281 121 96 136 280 576 309 93 3013 362 3348 849 1148 1038 2479 68 799 220 313 909 1141 61 153 1076 1208 35287 3970 221 108 60 372 1022 455 49 176 67 852 326 59 244 123
1203 50 191 851 387 2240 118 94 134 273 573 297 91 2918 357 3303 834 1125 1029 2397 67 780 212 309 887 1116 58 152 1053 1186 34948 3846 218 104 58 362 1009 441 48 173 66 826 317 58 240 117
TOP 15 ACHIEVERS
SR.NO
SCRIPT NAME
PREV CLOSE
CMP
//
% CHANGE
1
TATA ELEXSI LTD
1734
2076
+19.72%
2
NIIT TECH.
473
552
+16.69%
3
FINOLEX IND.
272.90
317.45
+16.32%
4
HIND. ZINC
138.50
160.65
+15.99%
5
UNION BANK OF IN
114.50
130.50
+13.93%
6
TORRENT POWER LT 207.45
234.30
+12.92%
7
GUJRAT PIPAVAV
143.45
161.85
+12.83%
8
GRUH FINANCE
232.25
261.15
+12.83%
9
SUN PHARMA
277.45
311.70
+12.44%
10
APOLLO TYRES
132.35
147.60
+11.52%
11
UPL
392.10
436.90
+11.43%
12
INDIA CEMENT LTD 83.80
93.35
+11.40%
13
SKS MICROFINANCE 476.05
528.80
+11.08%
14
PIRAMAL ENTERPRI 895.65
994.60
+11.05%
15
RALLIS INDIA
165.95
+10.97%
149.55
SR.NO
TOP 15 LOOSERS
SCRIPT NAME
PREV CLOSE
ADITYA BIRLA 2065.70 NUVO 1.45+2.45+3.45+4. N452+N 5.45 NJUST N DIAL N 802.15 I751I 751I 751I 751I 75 I326I 326I 326I 3236I 32 RCOM 73.30 T .T .T .T .T 67.11+ 68.11+ 69. 610. 6.11+ H114+ H11 HIDEA H CELLULAR H 116.60 9IT361 9IT361 9IT361 9IT36 LTD IT361 E805 % E805 % E805 % E805 % E N N N N 670.90 5N80 JET AIRWAYS C. . . D C. . . D C. . . D C. . . D C. . D H H H H .H 5 6 9 . 5 6 9 . 5 6 9 . 5 6 9 . 5 6 T22+T22+T22+T226+T22 UNITED SPIRITS 2733 .O05 .O05 .O05 .O05 .O05 Z 39 1Z 39 1Z 39 1Z 39 1Z 3 LTD IR74% 2IR74% 2IR74% 2IR747% 2IR74 ENGINEERS 211.05 N N N N N R. . . R. . . R. . . R. . . R. . INDIA C C C C C E2 42 3+ 9G E2 42 3+ 9G E2 42 3+ 9G E2 42 3+ 9E43 G 232.40 8G22 ADANI PORTS N3 56 01 2N3 56 01 2N3 56 01 2N3 56 01 2N3 56 0 R R R R R T212 % T212 % T212 % T212 % T 124.60 9 21 GATI LTD. U. . . U. . . U. . . U. . . U. . P1 P1 P1 21+ 8A 2 8P1 2 8P1 2+ 8A 2 A 841.00 H H 1+A H 1+A H 110 H 1 UNITED O3 54 51 3O3 54 51 3O3 54 51 3O3 54 51 3O3 54 5 BREWERIES P P P P P W W W W W % % % % 271 271 271 271 27 ALOK 5.48 E. . . O E. . . O E. . . O E. .11 E. . INDUSTRIES O .O F F F F F R365R365R365R365R36 I89+L I 89+L I 89+L I 8912 +L I 89 BEML LTD 1115 L I5 30 32 1I 5 30 32 1I 5 30 32 1I 5 30 32 1I 5 30 3 N N N N N L % L % L % L % L L L L L L . . 1 . . 1N. . 1N. .13 1 . . BHARTI AIRTEL 310.15 N T N T T T N T D 83. D83. D 83. D83. D 83 O A054O A054O A054O A054O A05 P 8 9 + P 8 9 + P 8 9 + P 8 9 + I I I I 14P I 89 SYNDICATE BANK 72.10 0N991 0N991 0N991 0N99 N991 IA % I % IA % I % I 541A541 541A5415 1A54 TATA POWER CO. 64.35 T C T C T C T C T C R. . . R. . . R. . . R. . . R. . Y Y Y Y Y 61 6+ 0R 61 6+ 0R 61 6+ 0R 61 6+ 0R 61 6 E1 E1 E1 E1 E1 R A A A A A C C C C C 52 01 5P 52 01 5P 52 01 5P 52 01 5P 52 0 P R0 R0 R0 R0 R0 M % M % M % M % M P 911 P 911 P 911 P 911 P 91 E E E E E E. . . E. . . E. . . E. . . E. . A A A A A IM S021IM S021IM S021IM S021IM S02 L L L L L N 0 0 9 N 0 0 9 N 0 0 9 E E E N E009N E00 F %F %F %F %F N R N R N R N R N R E E E E E A T A T A T A T A T 1
CMP
% CHANGE
870.00 -57.88% 608.65 -24.12% 62.10 -15.28% 103.10 -11.58% 602.60 -10.18% 2488 -8.96% 193.05 -8.53% 212.70 -8.48 % 114.15 -8.31% 776.90 -7.62% 5.11 -6.75% 1041 -6.67% 289.70 -6.59% 67.55 60.35
-6.34% -6.22%
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION) NSE CASH GATI : IT IS MOVE IN MOVEMENT IN IT ABOVE
N N P P T R R L T L O O E E T J T J R E R E BULLISH TREND DCPWEDCP T T 123 TGT 140 SL 118.R R I
I
N N P P T R R L T L O O E E T J T J R E E D R D CAN C P C P T T R R
N P T R L O E T J R E D EXPECT C P T R
I
I
I
FURTHER BULLISH SIDE
ADANIENT : WE CAN MADE LONG POSITION IN IT ABOVE 77 TGT 90 SL 72.
HCC : HCC MOVES IN BULLISH TREND ON DAILY CHART WE CAN EXPECT FUTHER UPSIDE MOVEMENT IN IT ABOVE 22.60 TGT 25 SL 21.
SUZLON : WE CAN MADE LONG POSITION IN IT ABOVE 20 TGT 25 SL 18.
RENUKA SUGARS : IT MOVES IN BULLISH TREND TODAYS WE CAN EXPECT FURTHER UPTREND IN IT ABOVE 13 TGT 18 SL 11.
J86- J86- J86- J86- J86 U002U002U002U002U00 S284S284S284S284S28 T. . . T. . . T. . . T. . . T. . 6-1I 11 6-1I 11 6-1I 11 6-1I 11 6 I11 50 51 2D1 50 51 2D1 50 51 2D1 50 51 2D1 50 5 D1 I631 % I 631 % I 631 % I 631 % I 63 E E E E E A. . . A. . . A. . . A. . . A. . L U6 21 25 -L U6 21 25 -L U6 21 25 -L U6 21 25 -L U6 21 2 C N0 70 48C N0 70 48C N0 70 48C N0 70 48C N0 70 4 E % E % E % E % E I38. I 38. I 38. I 38. I 38 L L L L L T389T389T389T389T38 L E22-6L E22-6L E22-6L E22-6L E22 A A A A A U U U U U % % % % D318 D318 D318 D318 D31 L L L L A22. A22. A22. A22. L A22 A A A A S. . 4N S. . 4N S. . 4N S. . 4A S. . N N R4 8IP R4 8IP R4 8IP R4 8IP R4 IP U 87- U8 7- U8 7- U8 7- U8 7 I4 I4 I4 I4 I4 07 07N P 07 07N P 07 07N P 07 07N P 07 0 N L % L % L % L % L R R R R R IP 16. IO 16. IO 16. IO 16. IO 16 IT. . 6T IT. . 6T IT. . 6T IT. . 6T IT. . O R R R R T D T D T D T D T D T R E B0 19 12 -E B0 19 12 -E B0 19 12 -E B0 19 12 -E B0 19 1 S00% T S S S S D E1 6D E0 10% 6D E0 10% 6D E0 10% 6D E0 10 S M 14. M14. M14. M14. M14 L B516L B516L B516L B516L B51 L L L L L T R T T R T T R 7S76-7R 7S76-7R S 7 6 S 7 6 S 76 D D D D D E276 E276 E276 E276 E27 L % L % L % L % L Y Y Y Y Y W W W W W T T T T T N ...N ...N ...N ...N .. E153D E153D E153D E153D E15 D IR054IR054IR054IR054IR05 I % I % I % I % I C C C C C E A E A E A E A E A S T S T S T S T S T E E
E
E
E
B A N K
B A N K
B A N K
B A N K
B A N K
NSE FUTURE JUSTDIAL FUTURE : JUSTDIAL MOVES BEARISH TRENS TODAY.ALSO ON DAILY CHART IT CONTINOUSLY MOVES IN BEARISH TREND WE CAN MADE SHORT POSITION IN IT BELOW 550 TGT 500 SL 565.
KSCL FUTURE : WE CAN MADE LONG POSITION IN AT ABOVE 360 TGT 400 SL 340.
APOLLOHOSP FUTURE : APOLLOHOSP FUTURE MOVES IN BULLISH TREND WE CAN EXPECT FURTHER BULLISH REND IN IT ABOVE 1498 TGT 1550 SL 1480.
BEML FUTURE : BEML FUTURE MOVES IN BEARISH TREND TODAY ON DAILY CHART IT ALSO SUGGEST BEARISH TREND WE CAN MADE SHORT POSITION IN IT BELOW 1050 TGT 1000 SL 1070.
JETAIRWAYS FUTURE : IT IS MOVES IN BEARISH TREND TODAY ALSO ON DAILY CHART IT IS MOVES IN BEARISH TREND
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK
GST remains very high on the government's priority: Arun Jaitley - Finance Minister Arun Jaitley reportedly said that one main reform which is still work in progress is ‘ease of doing business’ in India and steps are under way on that front. Jaitley said the political opposition is unlikely to obstruct the reform process, including on the direct and indirect tax reforms. Speaking at ‘The Global Economic Outlook’ session, Jaitley said GST remains very high on the government’s priority, says report. India's forex reserves fall by $1.7 billion - The country’s forex reserves were lower by $1.7 billion to $347,208 billion in the week to January 15, according to RBI data. RBI data says that the foreign currency assets slipped by $1.72 billion to $324.67 billion The value of gold in the reserves remained unchanged at $17.24 billion during the week. The country’s reserve position in the IMF further witnessed a drop of $0.7 million to $1.296 billion. Govt may boost capital infusion plan for PSBs - The Finance Ministry is considering injecting more capital into public sector banks than the previously announced INR 70,000 crore infusion to strengthen their balance sheets, reports a business daily. “We are assessing the capital requirement position of each bank depending on their bad loans and, if need be, we may have to expand the capital infusion programme,” a Finance Ministry official has said. An announcement to this effect could be made next month by Finance Minister Arun Jaitley in the Union Budget for 2016-17 if the Government decides to expand the capital infusion programme, according to the paper. The plan is at a preliminary stage and no decision has been taken so far, adds the paper. India is in better position than rest of the world: Chanda Kochhar, ICICI Bank - As the world dives into financial weakness, Chanda Kochhar, MD and CEO of ICICI Bank shared her insight on the macroeconomic outlook. According to her, the rupee is performing better than other global currencies. She sees a visible improvement in inflation with interest rates going down and finds the overall macroeconomic picture better when compared to the rest of the world.
India Utilities: What industry interactions suggest - 15 States have joined the SEB debt restructuring proposal introduced by the Center in Nov 2015. Power demand has been stable and is up 2.7% Y-o-Y in 9MFY16. Our industry interactions suggest that SEB payments are not seeing further delays. 4,030MW has been awarded on solar in the last 6 months, while thermal addition plans are muted as M&A focus continues. We remain positive on NTPC and Power Grid. Indian economy has potential to grow at 8%: Montek Singh Ahluwalia - Indian economy, which expanded at 7.7 per cent between 2003 and 2014 has the potential to clock 8% growth in the near future, Planning Commission’s former deputy Chairman Montek Singh Ahluwalia reportedly said. Montek Singh Ahluwalia reportedly said that for India to grow at 7.7-8%, implementation of reforms like Goods and Services Tax and Bankruptcy law are necessary. “I would say post-1991 reform, from 2003-14, India grew at 7.7 per cent, Ahluwalia said. Indian economy grew at 7.3 per cent last fiscal. We should be careful about calculating GDP growth: Rajan - RBI Governor Raghuram Rajan raised doubts over the new methodology used to calculate the country’s gross domestic product , according to reports. Rajan said that the policymakers should be careful while arriving at the figure. “There are problems with the way we count GDP which is why we need to be careful sometimes just talking about growth,” Rajan said while addressing students of the Indira Gandhi Institute of Development Research. Rajan reportedly said “We have to be a little careful about how we count GDP because sometimes we get growth because of people moving into different areas. Bank of Japan adopts negative interest rate policy - The Bank of Japan adopted negative interest rates for the first time at the end of its two-day policy review on Friday, buckling under pressure to ease concerns about the health of the world's third-largest economy. In a move that was signaled by the Nikkei business daily minutes ahead of the decision, the BOJ said it will apply a rate of negative 0.1 percent to excess reserves that financial institutional place at the bank and introduce a three-tier system on rates . Long due IMF quota reforms come into effect - The quota reforms of the International Monetary Fund are likely to be implemented soon which would be instrumental in fortifying IMF’s credibility, legitimacy and effectiveness, says a PTI report. The IMF reforms which came into effect on Thursday, have been due since a long span of time and were also approved by the US Congress last year. Emerging economies like India and China would enjoy increased voting rights, with the implementation of the reforms, as per
the report. IMF had approved the reforms in 2010 however, the implementation had been held back since the same were not cleared by the US Congress. Budget for 2016-17 likely to have quite a pruned disinvestment target: ASSOCHAM - With complete dimming of prospects of disinvestment target being met in the current financial year and the markets expected to stay in subdued mood even in the next fiscal, the government is likely to drastically scale down targets for realization of resources from PSUs’ stake sale in the Budget for 2016-17, ASSOCHAM said today. “It is given that with just about a month to go for the Budget presentation and the window of opportunity having been missed earlier in the year, there is no hope that the over-optimistic target of Rs Rs 69,500 for the current financial year could be reached. Hopefully, the Finance Ministry will desist from setting an un-realistic disinvestment yet again for the FY 201617,” the ASSOCHAM Paper on Budget expectations pointed out. Fitch: Weakness in emerging markets weighs on global ratings outlook - In its latest global credit outlook report, Fitch Ratings says that rating outlooks are improving in most sectors in developed markets, but worsening in emerging markets, where they have fallen for the past five years and are now more negative than for their developed market equivalents in core sectors. History shows a correlation between a strengthening US dollar and weakening EM sovereign credit worthiness, as a falling US dollar income can affect credit fundamentals. RBI rate reduction does not impact sovereign rating: S&P - The Standard & Poor's Ratings Services today said that RBI rate reduction does not affect the sovereign rating of the country in any way. Further, the banking sector in India is relatively well regulated compared with the peer banking system, it added. Details to follow soon. Fed caution, an acid test of global confidence - Confidence in the global economy received another dent on Wednesday night following the Federal Reserve’s cautious tone towards the current global woes which rapidly erased any optimism that US rates could be increased four times this year. The economic landscape has morphed dramatically from the December meeting offering nothing but pain, and this has forced the previously hawkish committee to take a few steps back and re-evaluate their stance. Although the Fed decided to be mindful in the statement by reiterating a similar language to December in an attempt to mitigate further turmoil in the financial markets, critical changes highlighting slowing economic growth and low inflation levels have made the idea a US rate increase in March difficult to imagine.
India and ADB sign $80 mn loan agreement to improve urban services in 2 cities The Asian Development Bank and the Government of India signed a $80million loan agreement to continue improving infrastructure in two North Eastern State Capital cities. The loan is the third tranche of a $200 million financing facility under the North Eastern Region Capital cities Development Investment Program and will be used for investments in water supply, solid waste management and sanitation in Agartala and Aizwal. It will also support urban reforms, benefiting nearly a million people in the two cities. Previous program tranches have provided assistance to five other cities in the Northeast Shillong (Meghalaya), Aizawl , Kohima , Gangtok and Agartala . Government to sell 10% stake in Engineers India; stock cracks 6% - Engineers India ended lower 6% at Rs. 194.05 after the government announced that it would sell 10% stake in Engineers India on Friday; this will fetch over Rs. 690 crore to the exchequer. The scrip opened at Rs. 199.1 and touched a high and low of Rs. 199.2 and Rs. 193.5 respectively. A total of 1747173 shares were traded on the counter. The current market cap of the company is Rs. 6920.75 crore. The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 252 on 01Jan-2016 and a 52 week low of Rs. 157.9 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 216.3 and Rs. 202.55 respectively. The promoters holding in the company stood at 69.37 % while Institutions and Non-Institutions held 20.06 % and 10.58 % respectively. Budget 2016: Will it help in simplifying tax laws? - There is a tendency of many people building up on their expectations whenever a new year comes knocking. Well, a majority of these expectations are more or less tagged to financials and more often than not, the expectations are not met due to financial constraints. Currently are lot of people are looking up to the authorities to make their lives sustainable. FDI quality improves substantially with PM Narendra Modi's Make in India push The quality of foreign direct investment coming into the country has improved substantially, according to Reserve Bank of India data. Much of this FDI materialised in the September 2014-November 2015 period after Prime Minister Narendra Modi launched the Make in India campaign and bettered portfolio inflows during the preceding 15 months. Gross FDI inflows amounted to $62.6 billion, 31% higher than $47.6 billion in the preceding 15 months.
TOP ECONOMY NEWS The Indian Drug Manufacturers Association has asked the union health ministry to reconsider its proposal to increase fees for product registration, inspection and clinical trials.
Farmers who parted with their land for highway projects are to get enhanced compensation under the new land acquisition law in case they are yet to be compensated under the old legislation.
The Finance Ministry is considering infusing more than the announced Rs700bn in public sector banks to help strengthen their balance sheets.
With over 900 kilogram of gold deposited under the gold monetisation scheme, the government has further relaxed norms that would benefit both depositors and banks. The modified guidelines allow premature redemption under medium and long term deposits, allowing withdrawals after a period of three years and five years respectively. Earlier, withdrawals could be made only after a period of five to seven years for medium term deposits and 12 to 15 years for long term deposits.
The procurement price of LED bulbs has fallen further to Rs64.41 from Rs 73 per unit under a government programme which could make he energy-efficient lighting more affordable. The Asian Development Bank approved a record $2.6 billion of new financing and investments for the private sector in 2015, a 37% increase from a year earlier and 62% higher than in 2013. Moody’s reportedly said India’s credit profile will be unaffected by a small slippage in fiscal deficit target. Moody’s Investors Service Associate MD Atsi Sheth stated that a rise in corporate profits and bounce back in government revenues hold key to India meeting 3.5 per cent fiscal deficit target in 2016-17, says report.
After the anti-dumping duty on imports of cold-rolled flat products of stainless steel last month, domestic stainless steel industry is seeking anti-circumvention duties on the same product and has already approached the Ministry of Commerce with its plea.
Uday scheme, rolled out by Power Ministry to bail out financially stressed discoms, will soon be modified to accommodate 12 states without their own distribution company.
The government has begun awarding road construction contracts following a simplification of procedures in this regard and plans to award a total of 10,000 km of road projects by the end of the current fiscal, Finance Minister Arun Jaitley said. He said 6,800 km of highway projects have already been awarded and by March this figure would go up to 10,000 km.
Union Urban Development Minister M Venkaiah Naidu released a list of the first 20 of the 98 cities shortlisted to be developed under for the Narendra Modi government’s Smart Cities Mission. These 20 cities will be the first cities to receive funds for development as smart cities. In the next two years, 40 and 38 cities will, respectively, will be included to the list.
Indian economy, which expanded at 7.7 per cent between 2003 and 2014 has the potential to clock 8% growth in the near future, Planning Commission’s former deputy Chairman Montek Singh Ahluwalia reportedly said.
The government approved hybrid annuity model for building roads to fast-track highway projects, revive the Public-Private-Partnership mode and attract more investments in the sector. Under this model, the government will provide 40% of the project cost to the developer to start work while the remaining investment has to be made by the developer.
Union Transport Minister, laid the foundation of Mahulia-Baharagora highway in the copper-township of Moubhandar, about 40 km from Jamshedpur, under Ghatsila subdivision. The 72-km highway on NH 33 and NH 6 in East Singhbhum bordering West Bengal will be developed at a cost of Rs9bn.
The Centre issued a fresh coastal regulation zone clearance to the ambitious 22-km Mumbai Trans Harbour Link project worth Rs113.70bn.
Low crude prices have been of great help to a net oil-importer like India. Brent prices in INR terms are down 70% from mid-2014 levels. The Indian crude basket, a weighted mix
of various benchmarks, is down by a similar margin.
Controller General of Accounts released the fiscal deficit data for April-December 201516, and it stands at 87.9% of FY16 target. The fiscal deficit stands at Rs 4.88 lakh crore as against Rs 5.32 lakh cr YoY, and which is slightly higher than the April-November data released last month which came in at Rs 4.83 lakh crore.
TOP CORPORATE NEWS Maruti Suzuki India maintained its leadership position in the domestic passenger vehicle market in December, with six of its models featuring in the top 10 brands last month.
ONGC has got environmental clearance for drilling 45 development wells and other related infrastructure involving a cost of over Rs530bn in the Krishna-Godavari basin in Andhra Pradesh.
Adani Gas-Indian Oil combine, GAIL Gas, Gujarat Gas and BPCL are among 18 companies that have bid for licence to retail CNG to automobiles in 20 cities like North Goa and Bhatinda.
Inox Wind Ltd said its arm Inox Wind Infrastructure Services Ltd has acquired Vinirrmaa Energy Generation Pvt Ltd for an undisclosed amount.
United Spirits has said that its shareholders have voted in favour of the company being referred to BIFR because of the erosion of its net worth.
Tata Power Ltd announced that it has terminated the share purchase agreement with Ideal Energy Projects Ltd for the acquisition of a 270-MW coal-based thermal power project in Maharashtra. In December 2014, the two companies had reached an agreement for a 100% stake in IEPL. The terms of the agreement required certain conditions to be met, which could not be reached in the last one year, therefore, the agreement has been terminated.
Finolex Industries Ltd
plans to invest Rs1bn in adding 1,00,000 tonnes of pipes
capacity over the next three years.
Cipla Ltd. announced completion of selling its entire holding in Hong Kong-based Biomab Holding to Biomab Brilliant for USD2.5mn.
The central transmission utility PowerGrid Corporation of India indicated that its annual capex for the fiscal 2016-17 will be higher compared to Rs 225bn for 2015-16. This is largely due to the Centre's plan to pursue transmission projects worth Rs1trillion to evacuate power from the upcoming coal and hydro and also from renewable projects.
The state-owned Power Grid Corporation of India said it would invest about Rs3.28bn in ramping up two transmission projects.
Infosys said it has picked up a minority stake in data discovery software firm Waterline Data Science USD4mn.
Punj Lloyd said its joint venture firm Limak has bagged orders worth Rs27.80bn from TANAP Dogalgaz Iletim AS in Turkey.
Idea Cellular, India's third-largest telecom operator, launched fourth generation services in Bangalore and is planning a rapid expansion across Karnataka in cities such as Mangalore, Udupi-Manipal, Bijapur, Bellary and 18 more towns by the end of this financial year.
After completing construction of its 15-million tonne crude oil refinery at Paradeep, Indian Oil Corporation Ltd is now eyeing to fast track its petrochemical complex coming up at the same location. IOCL is investing Rs340bn on the petrochemical complex.
Aurobindo Pharma Limited announced it has received final approval from the US Food and Drug Administration to manufacture and market Voriconazole tablets.
HCL Technologies Ltd announced acquisition of UK's Point to Point Ltd and Point to Point Products Ltd for Rs780mn.
TOP BANKING AND FINANCIAL NEWS OF THE WEEK
Insurance sector is likely to attract FDI of over Rs 12,000 crore in 2016 as more than a dozen foreign companies plan to raise their stake in private sector insurance joint venture this year, industry body Assocham said on Monday.
Insurance sector is likely to attract FDI of over Rs 12,000 crore in 2016 as more than a dozen foreign companies plan to raise their stake in private sector insurance joint venture this year, industry body Assocham said on Monday. Newest private sector lender IDFC Bank today posted a net profit of Rs 242.16 crore for the December quarter, and said it will focus on expanding its priority sector lending book. HDFC Bank today reported a 20.1 per cent rise in the October-December quarter net profit at Rs 3,358.8 crore on higher core interest income as the second largest private lender said it is untouched by the regulator's special review on big-ticket bad assets. The core net interest income rose 24 per cent to Rs 7,068.5 crore in the October-December quarter, helped by asset growth. Axis Bank today said it has an exposure of eight per cent in eight large debt-ridden corporate groups at the end of December 2015. "Our funded exposure to highly leveraged groups has been stable at around 8 per cent at the end of the third quarter," the bank said in a filing to BSE. Yes Bank jumped 10.8% to Rs.747 after the bank recorded a rise of 25% in its net profit at Rs. 675.7 crore for the quarter ended December 31, 2015 compared with Rs. 540.2 crore for the quarter ended December 31, 2014.
ICICI Bank ended 1.2% lower at Rs.230.10 after the bank reported lower than expected earnings. The company posted a net profit of Rs. 31223.50 million for the quarter ended December 31, 2015 as compared to Rs. 32653.20 million for the quarter ended December 31, 2014. Total Income has increased from Rs. 230538.20 million for the quarter ended December 31, 2014 to Rs. 255851.40 million for the quarter ended December 31, 2015.
United Bank of India slipped 1% to Rs.19.20 after the bank plans to raise equity up to an aggregate amount of Rs. 500 crore in the first tranche and not exceeding Rs. 1000 Crore in one or more tranches during any financial year by Qualified Institutions Placement, Public Issue, Rights issue or such other issues as mentioned in the SEBI circular dated November 30, 2015.
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