Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - The Equity benchmark Nifty closed at 8000 levels last week, the Index tested levels of 7950 which is just 30 points shy of the previous month low of 7921. The benchmark Index remained weak in the last five trading sessions with FII's turning out as net sellers in the market. Nifty dropped almost 200 points from 8148 to 7953 in the course of the week's trading session. Indian benchmark Index opened gap down On Monday trading Session at 7965 down by 20 points or 0.25 percent as Prime Minister Modi gave ample hints of raising taxes in the capital markets, this will dent the sentiments as the market tries to recover from the demonetization set back. The markets in the December series saw heavy selling by FII's in the cash and F&O segment. There was a possibility that Nifty could close at the lowest level in this clearing if it is unable to close above 7954. The Index is trading above an important gap level of 8160 and it could test the next target 8200-8280 if 8180 level is breached. Nifty January Series has started on a positive note. The benchmark index ended the December series with an upward bias as it closed above the 8100 mark. After making a low of 7894 early this week, Nifty bounced back convincingly and tested 8100 levels. The data for the Jan series shows that short positions have been squared off, so the market is likely to trade with a bullish bias. If Nifty stays above 8130 today, then the next target is 8278. On Technical chart, Nifty is in positive zone. We are into last trading Session of the calendar year 2016 and overall market would remain in a Positive territory. Market can see some profit booking but overall market is positive as of now and traders can go long at dips with strict stop loss of 7980 levels for Nifty on closing basis as market would enter into negative zone once Nifty closes below the levels of 7980-7960. The Crucial Levels for Nifty is 8220-8280 is Upside and 8130-7980 is Down side. BANK NIFTY : - The Banking Shares Index Bank Nifty opened in a Negative Note on Monday trading Session Down by 59 points or 0.32 per cent at 17825. The banking sector continues to face "significant" level of stress as the asset quality has deteriorated further with the banks' Gross Non-Performing advances increasing to 9.1 per cent in September from 7.8 per cent in march, says the Reserve Bank of India. Bank Nifty Need to close below 18255 levels to enter into negative zone. Traders can initiate short positions only if Bank Nifty closes below 18255 levels. Bank Nifty has broken its major support level of 18250 and has traded below it for consecutively for 2 sessions. The Bank Nifty was also trading down below the gap level of previous month low of 17911 and closed on Thursday at 17700 with a possible price target of 17346. Bank Nifty has major support at 17986 and Resistance at 18329 above which next target is 18647. Signed By:Deepak Patidar Sustaining above 18200 zone, Bank Nifty may further rebound towards 18350-18475 & 18550-18600 Signed By:CN=Deepak Patidar,
SERIALNUMBER=5022d3ad4c1b area and if it Sustaining below 17960 may drag the Bank Nifty toward 17656-17458 Level for next
trading week sessions.
78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
Monday, 02 January 2017
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY WEEKLY
MONTHLY
R2
R1
PP
S1
S2
8390
8242
8168
8094
7946
R2
R1
PP
S1
S2
9001
8397
8095
7793
7189
R2
R1
PP
S1
S2
9260
8500
8120
7740
6980
R2
R1
PP
S1
S2
18746
18364
18173
17982
17600
R2
R1
PP
S1
S2
19931
18661
18026
17391
1612
R2
R1
PP
S1
S2
21577
19321
18193
17065
14809
BANK NIFTY DAILY
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
NIFTY
8099
8228
8311
8262
BANK NIFTY
18201
18576
18663
18300
PARABOLIC SAR
DAILY
WEEKLY
100 DAYS
200 DAYS
MONTHLY
NIFTY
8113
8322
7826
BANK NIFTY
18340
19755
16124
Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
PATTERN FORMATION ( NIFTY )
Detail of Chart -We can see that Nifty index has been constantly forming 'Lower Highs and Lower Lows'. We also see that the index is en-route building a Kind of 'Head and Shoulder' pattern. The head and shoulder pattern was initiated from 7807 levels after which it created a high of 8954. If technical analysis is followed, Nifty should complete its Head and Shoulder pattern. For this the index should break the 7900 mark before taking support at 7807, before making any further Upmove. Looking at the option chain in sync with the chart, 7807 could become a potential mark for the December expiry. The Bollinger Band is Also giving Signal that if it Sustain the Level of 8150 could lead the Nifty toward the 8273 level. The crucial levels for Nifty is 8090-7946 is down side and 8152-8242 is Up side.
Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
PATTERN FORMATION ( BANK NIFTY )
Detail of Chart -On the Above given daily Chart of BANK NIFTY has Applied the Bollinger Band along with Parabolic SAR. Both are the leading Indicators and give Signal on Breakout of Upper or Lower Band. On the Above given chart of Bank Nifty it is trading Above Middle Band if it is able Sustain the level of 18250 could witness the upward Rally. From this level we are Expecting the If the Bank Nifty is able to Sustain the Level of 18250 may go Further Up side to the level of 18550-18660 Level for Next week. The Significance levels for BANK NIFTY is 17980-17600 Down side and 18360-18740 is Up Side
Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
NSE EQUITY DAILY LEVELS COMPANY NAME
R2
R1
PP
ACC ADANI PORTS
EQ EQ
1336 275
1329 271
1320 268
AMBUJACEM ASIAN PAINT AXISBANK BAJAJ-AUTO BANKBARODA BPCL BHEL BHARTIARTL BOSCH LTD BHARTI INFRATEL CIPLA COALINDIA CAIRN INDIA LTD DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK ITC INDUSIND BANK INFY IDEA CELLULAR KOTAKBANK LT M&M MRF MARUTI SUZUKI ONGC NTPC RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SBIN SSLT( VEDL) SUNPHARMA TATA MOTORSDVR TCS TATAMOTORS TATAPOWER TATASTEEL UNIONBANK YES BANK LIMITED ZEEL
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 EQ EQ EQ EQ
210 902 456 2679 154 643 122 311 21345 349 577 304 246 3091 454 886 840 1281 1217 3077 157 835 260 245 1124 1025 75 726 1360 1196 49642 5406 194 166 35 439 1098 477 43 255 221 641 303 2396 478 79 398 127 1170 460
208 896 453 2656 154 640 122 308 21185 346 572 302 244 3079 445 874 834 1272 1209 3054 156 830 258 243 1116 1018 75 721 1354 1187 49183 5360 193 165 34 435 1089 471 42 252 219 635 300 2381 474 78 395 124 1162 457
205 889 449 2644 152 634 120 304 20917 341 569 299 242 3063 434 856 824 1261 1204 3041 154 824 254 239 1106 1005 73 718 1349 1180 48842 5332 191 164 34 430 1076 466 41 250 216 625 298 2363 470 76 391 123 1154 451
S1 1313 264
S2 1304 261
203 200 883 876 446 442 2621 2609 152 150 632 627 120 118 301 297 20757 20489 338 333 564 561 297 294 240 238 3051 3035 425 414 844 826 818 808 1252 1241 1196 1191 3018 3005 153 151 819 813 252 248 237 233 1098 1088 998 985 73 71 713 710 1343 1338 1171 1164 48383 48042 5286 5258 190 188 163 162 33 33 426 421 1067 1054 460 455 40 39 247 245 214 211 619 609 Signed By:Deepak 295 293 Patidar Signed By:CN=Deepak Patidar, 2348 SERIALNUMBER=5022d3ad4c1b 2330 466 78de0686c6f8db151b37881409a3b 462 5b51b9875a918069956a9a5, 75 74 OID.2.5.4.45=#0341003635623632 388 384 120 119 1146 1138 448 442
TOP 15 ACHIEVERS SR.NO
1 2 3 4 5 6 7 8 9 10 11 12 13 14
SCRIPT NAME
PREV CLOSE
CMP
ITC LIMITED
323
151
IDEA CELLULAR
861
783
HUL
279
262
TECH MAHINDRA
79.45
75.25
ULTRATECH CEM
925
888
INDUSIND BANK
120
115
HCL TECH
614
595
COAL INDIA LTD.
126
123
GRASIM INDUS
189
184
BHARAT PETRO
582
568
WIPRO LIMITED
264
258
BHARTI AIRTEL
48.50
47.45
TCS
61.95
60.65
AURO PHARMA
113
111
HDFC
137
134
15
TOP 15 LOOSERS % CHANGE
- 53.32 % - 9.03 % - 6.01 % - 5.29 % - 4.02 % -3.79 % - 3.16 %
SR.NO
SCRIPT NAME
PREV CLOSE
CMP
1
ENGINEERS INDIA
323
151
- 53.32 %
2
DIVI'S LAB
861
783
- 9.03 %
3
CANARA BANK
279
262
- 6.01 %
4
WELSPUN CORP
79.45
75.25
- 5.29 %
5
GLENMARK PHAR
925
888
- 4.02 %
6
PUNJ.NATINL
120
115
-3.79 %
BANK ALEMBIC
614
595
- 3.16 %
.
126
123
- 2.73 %
-
9
PHARMA UNION BANK OF IND APOLLO TYRES
189
184
- 2.35 %
10
CIPLA LIMITED
582
568
-2.32 %
11
VRLLOGISTICS
264
258
- 2.31 %
12
LTD. ANDHRA BANK
48.50
47.45
- 2.16 %
13
ROLTA INDIA
61.95
60.65
- 2.10 %
14
DLF LIMITED
113
111
- 2.07 %
KPIT
137
134
-1.79 %
7 - 2.73 % - 2.35 % -2.32 % - 2.31 % - 2.16 % - 2.10 % - 2.07 % -1.79 %
8
% CHANGE
9 5 3
2 2 2 2
15
TECHNOLOGI
Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS ) NSE FUTURE NSE FUTURE :BUY BHARATFIN FUTURE ABOVE 620 TGT 650 SL 610 NSE FUTURE :BUY INFY FUTURE ABOVE 1020 TGT 1050 SL 1010 NSE FUTURE :BUY ABIRLANUVO FUTURE ABOVE 1310 TGT 1350 SL 1290
NSE CASH Signed By:Deepak Patidar
NSE CASH : BUY NMDC NSE CASH ABOVE 125 TGT 135 SL 121SERIALNUMBER=5022d3ad4c1b .. Signed By:CN=Deepak Patidar, 78de0686c6f8db151b37881409a3b
NSE CASH : BUY DWARKESH NSE CASH ABOVE 330 TGT 356 SL 320. 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
NSE CASH : BUY NTPC NSE CASH ABOVE 166 TGT 180 SL 157.
NSE - WEEKLY NEWS LETTERS ✍ TOP NEWS OF THE WEEK
Household owned majority of deposits in banks till March 2016: RBI - Majority of deposits in banks was held by the household sector at 61.5 per cent as on March 31, 2016, the Reserve Bank said today. This was followed by the Government sector which accounted for 12.8 per cent of total deposits. The private corporate sector came next with a contribution of 10.8 per cent. Total deposits as on March 31, 2016 was Rs. 98,41,290 crore, as against Rs. 89,72,710 crore till March 2015. "A majority (63.8 per cent) of the deposits was term deposits. The combined share of current and savings deposits, however, increased from 34.9 per cent in 2015 to 36.2 per cent in 2016," the RBI said. More than half (51.5 per cent) of the total deposits was raised by metropolitan branches followed by urban branches (22.8 per cent) and semi-urban branches (15.4 per cent). While term deposits dominated the total deposits in these branches, savings deposits dominated in rural branches. Public sector banks continued to maintain the largest share (70.6 per cent) in total deposits. Private sector banks had a share of 21.6 per cent in total deposits India's forex reserves fall $ 2.4 billion to reach one of the lowest levels since May - India’s foreign exchange reserves dipped $ 2.4 billion to settle at $ 360.6 billion, one of the lowest levels since May of this year, as market sources said that the Reserve Bank of India could be selling dollars heavily in order to arrest the slide in the value of Rupee. A combination of factors may have triggered the fall,” said Ashutosh Khajuria, executive director, Federal Bank. “The last leg of FCNR(B) redemptions has put pressure on the Rupee to an extent while RBI’s routine intervention may also have led to an erosion of the reserves. While one of the steepest falls in the last few months in RBI’s dollar reserves was seen in early October due to FCNR(B) outflows starting off, a strengthening dollar and consistent outflow of foreign portfolio investors from the country has also created some pressure on the Rupee lately. “The RBI had definitely intervened when Rupee had hit 68.8 few days back and even now the value of the currency has been held steady at around 68 due to heavy selling of dollars,” said market sources. Demonetisation: India's GVA growth to be at 6.6 per cent in 2016-17, says rating agency ICRA's - India's gross value added growth is likely to be at 6.6 per cent in 2016-17 asSigned economic By:Deepak activity Patidar will Signed By:CN=Deepak Patidar,
SERIALNUMBER=5022d3ad4c1b take more time to normalise following the government's move to demonetise high-value notes, Icra 78de0686c6f8db151b37881409a3b
has said. "Although currency liquidity is likely to improve significantly by 5b51b9875a918069956a9a5, the end of January 2017, OID.2.5.4.45=#0341003635623632
economic activity may take longer to normalise, based on which we have revised our forecast for GVA growth in 2016-17 to 6.6 per cent," the domestic rating agency said in a report. It said the pace of revival of economic activity in the fourth quarter of the current financial year is likely to take a cue
from how quickly currency in circulation gets replenished and digital transactions become more widespread. Between November 10 and December 19, banknotes of Rs. 5.9 trillion were issued to the public through the banking system, as indicated by the Reserve Bank, equivalent to an estimated 38 per cent of the value of currency that ceased to be legal tender. Government reviews capital needs of banks - The government is reassessing the capital needs of state-run banks after some lenders and the Reserve Bank of India raised concerns over stressed assets turning non-performing if demonetisation impacts demand for long. “There were accounts that were already under stress. Banks say they may be further impacted due to the demonetisation drive,”a senior government official said, requesting anonymity. “If they move in the non-performing category —from substandard to doubtful—provisioning will increase, which will further impact banks’ capital.” The official said banks are also worried as demonetisation has led to a surge in their deposits but they cannot deploy this money because of low credit growth. This means they will have bear more of the interest burden, which will ultimately impact their profitability. The Narendra Modi-led government had on November 8 demonetised old Rs 500 and Rs 1,000 notes. The two notes accounted for about 85% of the cash in circulation. But a finance ministry official said the exercise to assess capital needs was routine and one cannot draw a direct link with demonetisation. Union Budget 2017 likely to be taxpayer-friendly - The post-demonetisation Budget is likely to be citizen- and taxpayer-friendly and will aim to push growth. This was the central message that emanated from an interaction between Prime Minister Narendra Modi and a group of economists organised by the NITI Aayog on Tuesday. The consultations saw the PM remark that while people in general were not tax evaders, they did want taxes better utilised and accounted for. "Tax simplification figured quite a lot... on direct taxation, corporate and personal income tax, reducing exemptions, bringing down the tax rate and aligning tax system to make India competitive with international destinations," NITI Aayog vice-chairman Arvind Panagariya said. A source said the Modi government's third Budget may offer incentives and packages to boost consumption and accelerate economic growth, a concern after reports that demonetisation had suppressed demand and reduced discretionary spending. RBI extends grace period for NPA classification by 30 days - The Reserve Bank of India on Wednesday further extended the grace period for banks, non-banking finance companies and microfinance companies to classify bad loans by 30 days in the case of agriculture and term loans of Signed By:Deepak Patidar
Signed By:CN=Deepak Patidar, up to Rs. 1crore. The central bank had on November 21 had asked lenders to provide additional 60 SERIALNUMBER=5022d3ad4c1b
78de0686c6f8db151b37881409a3b days to small ticket borrowers to pay instalments due between November 1 and December 31 in view 5b51b9875a918069956a9a5,
OID.2.5.4.45=#0341003635623632 of the cash crunch following the demonetisation drive. “Permit all regulated entities to defer the down
grade of an account that was standard as on November 1, 2016, but would have become NPA for any reason during the period November 1, 2016 to December 31, 2016, by 90 days from the date of such
downgrade,� the RBI circular said on Wednesday. Government's direct tax kitty swells to Rs 5.57 lakh crore between April and December Government's direct tax kitty has swelled to Rs. 5.57 lakh crore between April 1 and December 19, thereby achieving 65 per cent of budget estimates. The mop up from indirect tax, which comprises customs, excise and service tax, in April-November period jumped 26.2 per cent to Rs. 7.53 lakh crore. Belying fears of slowdown in industrial activity post demonetisation, the indirect tax collection in November alone grew 23.1 per cent to Rs. 67,358 crore. Finance Minister Arun Jaitley said, irrespective of what critics had predicted, figures revealed that till November 30, there is a significant increase in indirect taxes. "We have also tried to check the figures for the month of November which could have been adversely impacted on account of the currency replacement compared to the November of 2015. On year-to-year basis, in November 2016, for all the three indirect taxes, the collection is much high," he said. After government's nudge, banks set to slash interest rates in next few days - Nudged by the government, banks are poised to slash interest rates in the next few days as they move in lockstep with the administration to lift the spirits of borrowers following the dislocation caused by demonetisation and the 50 days sought by Prime Minister Narendra Modi come to an end. Bankers said the reduction in lending rates could be accompanied by a steeper cut in deposit rates. Large commercial banks currently pay about 7 per cent for one-year deposits and charge 8.9 per cent for loans of the same tenor. A senior bank official said the government has sought to persuade banks to lower rates on the grounds that the cost of deposits had dropped due to demonetisation and the benefits should be passed on to customers to boost consumption. "Investment sentiments are low and the government is under tremendous pressure from the Opposition to showcase that the demonetisation exercise has paid off. Secondly, the common man is hoping that after going through agony for 50 days, he should get the benefits of demonetisation," said a senior bank official. "Therefore, the government is in dialogue with banks on measures that can be taken to boost investments."
� TOP ECONOMY NEWS
Finance
Minister Arun Jaitley rejected possibilities of any hike in long-term capital gains tax on
market participation.
The
Goods and Services Tax Council, comprising the
representatives, mainly their finance ministers, cleared most of
Power
Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b Union 78de0686c6f8db151b37881409a3b finance minister and state 5b51b9875a918069956a9a5, the draftOID.2.5.4.45=#0341003635623632 model GST Bill.
consumers are likely to gain to the extent of Rs. 693.10 billion from the reduction in
electricity tariff enabled by the auction of nine coal blocks to power sector firms so far.
The government received Rs. 348 billion from the sale of minority stakes in an array of state-owned firms this year even as it prepared the ground for the first strategic sale of public sector undertakings in over 12 years.
Betting big on capital markets for raising funds, Indian companies have garnered an estimated Rs. 6.3 trillion from the marketplace in 2016, with debt instruments being the most favoured route to raise money for their business needs amid volatile trends in equities.
Foreign investors have pulled out a massive USD 3.5 billion from the capital market this month so far following rate hike by the US Federal Reserve.
Over Rs. 360 billion were saved in last two years for providing diverse payment and various wages straightway to the beneficiaries under the Direct Benefit Transfer scheme.
For the first time in the past five years, venture capital investments have seen a drop -- of around 29% -- in 2016.
Government's
direct tax kitty has swelled to Rs. 5.57 trillion between April 1 and December 19,
thereby achieving 65% of budget estimates.
The government is expected to raise Rs. 1 trillion of additional taxes under the Income Disclosure Scheme II , which in turn will help in containing the 2017-18 fiscal deficit.
FIPB approved six investment proposals, including that of Sanofi Synthelabo India, Star Den Media Services and Idea Cellular Infrastructure Services, envisaging foreign investment of Rs. 12 billion.
� TOP CORPORATE NEWS Tata Steel Limited has signed an agreement to acquire Brahmani River Pellets LtdBy:Deepak for Rs. 9 Patidar billion Signed in cash.
Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
Reliance infrastructure Limited has exited India Energy Exchange, selling its stake in the country's largest power trading platform, for Rs. 1.03 billion.
Camlin Fine Sciences Limited said it is acquiring 51% stake in Ningbo Wanglong Flavors and Fragrances Company Limited. ONGC Limited will pay over USD 1.2 billion for buying GSPC's entire 80% stake in KG-basin natural gas block, which is struggling to start commercial production despite trial outputs starting nearly two-and-half years back. Welspun Enterprises Limited is looking to divest its entire 15.49% stake in Welspun Energy. Cipla Limited respiratory portfolio received a boost with the UK drug regulator approving its key asthma inhaler. The inhaler will be launched within the next few weeks. Balrampur Chini Mills has got environment clearance for expansion of its Babhnan unit of distillery and Co—generation power in Uttar Pradesh, entailing Rs. 720 million investment. Sun Pharma subsidiary has invested USD 13 million about Rs. 880 million in the US-based scPharmaceuticals Inc. Alkem Labs’ Daman manufacturing plant has obtained the Establishment Inspection Report from US health regulator USFDA. ICICI Bank Limited has launched a mobile application for merchants that allows consolidation of all modes of payments, including digital wallets, Unified Payments Interface, QR code, and credit & debit cards. The app, eazypay, which is designed for business, allows multiple users to connect to the same account. This makes it possible to be used for cash-on-delivery payments. Wipro Limited has agreed to pay a civil money penalty worth USD 5 million to the US Securities and Exchange Commission to resolve a six-year-old investigation on account of embezzlement of funds by an employee. The US Food and Drug Administration has issued form 483 with five observations against Divi's Laboratories' Limited unit at Chippada Village in Visakhapatnam of Andhra Pradesh following an inspection, which concluded on December 6. Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b Lupin Limited has received tentative approval from the US health78de0686c6f8db151b37881409a3b regulator to sell Olmesartan 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632 medoximil tablets, used for treating high blood pressure, in the American market.
NTPC Limited has commissioned the Unit-1 of 800 MW of Kudgi Super Thermal Power Project on
December 25. L&T Construction, the construction arm of L&T Limited, has won orders worth Rs. 30.39 billion across its various business segments. The board of directors of Gayatri Projects Limited, at a meeting held Dec 26, 2016, has approved sub-division of nominal value of the company's equity shares of Rs. 10 each to Rs. 2/share. Panacea Biotec Limited has launched fully-liquid tetravalent vaccine easyfour-TT used for primary immunisation and as booster dose for diphtheria, tetanus, pertussis and Hib. Jet Airways Limited announced the deployment of higher seating capacity aircraft on two domestic and an equal number of international routes from early next year amid growing passenger demand. India Inc raised USD 488.49 million via External Commercial Borrowings and Rupee Denominated Bonds in November 2016.
Glenmark Pharmaceuticals has received final approval from the US health regulator USFDA for the sale of Tretinoin capsules, used in the treatment of leukemia. JSW Energy said its board has given nod to raise funds up to Rs. 7.50 billion through issuance of redeemable non-convertible debentures by way of private placement. ITC Ltd has raised the prices of two of its bestselling brands -- Gold Flake and Navy Cut. Biocon Limited and Mylan said that the results of the HERITAGE study have been published in the Journal of the American Medical Association. L&T Metro Rail Hyderabad Limited has thus far incurred a cumulative expenditure of Rs141.72bn on the elevated rail project. Zydus Discovery DMCC, a research subsidiary of Cadila Healthcare, has been pulled up by the US Signed By:Deepak Patidar
By:CN=Deepak Patidar, FDA for misbranding Saroglitazar, its drug used in India to treat Signed diabetic dyslipidemia and
hypertriglyceridemia, in a promotional YouTube video.
SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
ICICI Bank Limited , which had attempted to auction the asset with a built-up area of 41,000/sq ft twice before, expects to raise Rs. 2.40 billion from selling it off.
Hinduja Group flagship Ashok Leyland has launched Oyster staff bus in Saudi Arabia, the third product from India's second largest commercial vehicle manufacturer in the kingdom in six months. State Bank of India rejected reports that Rs. 13 billion cash have been deposited in its various branches in Arunachal Pradesh after demonetisation saying no such deposits were found after minutely verifying the relevant records. Zydus Cadila announced that its wholly-owned subsidiary, Zydus Healthcare Limited, has acquired six brands from American pharma player MSD and its subsidiaries in India. Zydus Pharmaceuticals USA Inc is recalling over 16 thousand bottles of Bupropion Hydrochloride tablets manufactured by Cadila Healthcare Limited on account of failure to meet the desired dissolution specifications. JK Tyre & Industries said its board has given approval to raise up to Rs. 10 billion by issuing securities. JMC Projects (India) Limited said it has bagged new construction projects worth over Rs. 14.57 billion. India Inc raised a whopping Rs. 386.45 billion in November through private placement of corporate debt bonds, a surge of 57% from the year-ago level, for business expansion and propping up working capital requirements. Rajesh Exports has won a Rs. 9.29 billion export order from the United Arab Emirates. Tata Steel Limited Special Economic Zone Ltd has sought more time from the Government for setting up a multi—product SEZ in Odisha. Lupin Limited has received tentative approval from the US health regulator to market its Balasalazide Disodium tablets, used for the treatment of ulcerative colitis, in the American market. Signed By:Deepak Patidar
Signed By:CN=Deepak Patidar, Bharat Heavy Electricals Limited has successfully commissioned another 600mw coal-based
thermal power plant in Telangana.
SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
Reliance Industries Limited has announced the successful commissioning of the first phase of the paraxylene plant at its Jamnagar petrochemicals complex in Gujarat with capacity of 2.2mn tpa.
✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
Plastic transactions have jumped around 25 per cent per month since November 8 in the wake of demonetisation and the government's aggressive push — led by Prime Minister Narendra Modi — for a predominantly cashless society. While card payments grew the most in organised retail, even small roadside merchants appeared to be shifting to digital payments.
State Bank of India, the country's largest lender, and a few other banks are expected to announce a cut in lending rates effective early January, said people with knowledge of the matter. That could give consumption a much-needed boost, having slumped in the wake of demonetisation as people are unwilling to spend on non-essential items amid a currency shortage.
Non-banking finance company Au Financiers today said it has received final approval of the Reserve Bank to start operations as small finance bank. "The company has now received final licence from Reserve Bank to establish and operate Small Finance Bank in India," the Jaipur-based NBFC said in a statement.
Bankers are back to dealing with the problem that worried them the most prior to November 8 — recovery of loans — which had taken a back seat since the demonetisation announcement. At a recent meeting led by State Bank of India, top bankers decided to send out a strong signal to defaulting companies that they would face stern action if they don't cooperate with recovery.
state Bank of India has rejected reports that Rs. 1,300 crore cash have been deposited in its various branches in Arunachal Pradesh after demonetisation saying no such deposits were found after minutely verifying the relevant records.
Based on initial estimates that as much as Rs. 4 lakh crore of undisclosed funds may have flown into bank accounts post-demonetisation, the tax department is gearing up to serve notices on those who cannot explain the source of the money. Data with the income tax department shows that till Signed By:Deepak Patidar December 17, cash deposits of Rs. 80 lakh or more added up to nearly RsSigned 4 lakh crore, which Patidar, flowed By:CN=Deepak
into 1.14 lakh bank accounts.
SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
An internal government review based on feedback from banks suggests that the supply of currency from the Reserve Bank of India may not be adequate following demonetisation, officials said. The
government is working with RBI and banks to try and remedy the situation as the end of the 50 days sought by Prime Minister Narendra Modi for the restoration of normalcy approaches.
The banking sector continues to face "significant" level of stress as the asset quality has deteriorated further with the banks' gross non-performing advances increasing to 9.1 per cent in September from 7.8 per cent in March, says the RBI. "The gross non-performing advances ratio of Scheduled Commercial Banks increased to 9.1 per cent from 7.8 per cent between March and September 2016, pushing the overall stressed advances ratio to 12.3 per cent from 11.5 per cent," the Financial Stability Report released by the RBI said today.
India's banking sector continues to face "significant" levels of stress but the financial system remains stable overall after moves to enhance transparency, Reserve Bank of India Governor Urjit Patel said in the twice-yearly Financial Stability Report. The report noted the gross non-performing advances ratio of commercial banks - a measure of stress in the sector - had increased to 9.1 percent in September from 7.8 percent in March, pushing the overall stressed assets ratio to 12.3 percent from 11.5 percent.
Armed
with information about Rs. 7 lakh crore deposits made by some 60 lakh individuals and
companies, the government today warned of hauling up anyone unable to show legal means saying mere depositing in bank does not convert black money into white. Top officials said while the government will not hound any genuine depositor, it will not hesitate to litigate at any forum to catch any black money holder trying to convert illegal wealth into white.
Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
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Signed By:Deepak Patidar Signed By:CN=Deepak Patidar, SERIALNUMBER=5022d3ad4c1b 78de0686c6f8db151b37881409a3b in market making activity for 5b51b9875a918069956a9a5, OID.2.5.4.45=#0341003635623632
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