Equity research report 11 january 2016 ways2capital

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - The Market has kick-started First Trading week of 2016 on lower note. The Nifty slipped 171.90 points or 2.16 percent at 7791.30. The Nifty50 came under pressure to break below its crucial support level of 7,800. After weak Chinese manufacturing PMI readings sparked selling across Asian currencies. Chinese yuan dropped to a fresh five-year low against the US dollar in morning trade after China said manufacturing PMI contracted. Most other Asian cracked in trade after weak Chinese manufacturing data signaled a further weakening in the world's second largest economy. We are seeing a strong support zone around 7600-7550 levels. If Nifty manages to hold this zone then we may witness an immediate bounce towards 7750-7800 levels. On Thursday There was another sell-off in China, down over 7 percent that led to trading being halted for the second time this week. The Chinese central bank fixed the yuan mid point at 6.5646/USD this morning, a move that sent the country's stocks tumbling. Brent crude slumped to fresh 11-year low, falling below USD 34 a barrel. The 50-share NSE Nifty crashed 172.70 points or 2.23 percent to 7568.30 after hitting an intraday low of 7556.60.The strong Support Seem for Nifty is 7600-7550 And the Resistance for Nifty is 7800-7870.

BANK NIFTY : - The Bank Nifty also open in the red on Monday down by 73 points at 16966.35 from the previous closing level. And the expectation was also in the negative trend from the market due to negative globle clues and the mostly Public Service Banks is trading their 52 week

low level. However the

private sector bank is Performing well to manage the Bank Nifty Psychological level of 16000. On Thursday trading session the Bank Nifty is open down by 177 point at 16256.55 and closed down by 183 pints at 16073 the Bank Nifty is currently trading at 16163 up by 63 points or 0.40 % from previous closing. The Fear for Banking Industry is the Fed official was quoted as saying the market may be optimistic on expectations over rate hikes. The Federal Reserve is Planning to 3 time rate hike in 2016 And the china Economy these are the macro economic issue for market.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY

R2

R1

PP

S1

S2

7663

7612

7561

7459

R2

R1

PP

S1

S2

8839

8079

7699

7319

6559

R2

R1

PP

S1

S2

8956

8126

7711

7296

6466

7765

WEEKLY

MONTHLY

BANK NIFTY DAILY

R2

R1

PP

S1

S2

16283

16160

16037

15791

R2

R1

PP

S1

S2

19116

17298

16389

15480

13662

R2

R1

PP

S1

S2

19474

17442

16426

15410

13378

16529

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

7786

7855

7962

8190

BANK NIFTY

16623

6919

17186

17792

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

7910

8150

8400

BANK NIFTY

16990

18005

19850

PATTERN FORMATION ( NIFTY AND BANK NIFTY )

Depiction of Chart - On the Above given weekly chart of Nifty Index has Applied the 100 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 100-day MA will have a much greater degree of lag than a Less-days MA because it contains prices for the past 100 days. With breaks above and below this moving average considered to be important trading signals.for Buying or Selling. MAs also impart important trading signals on their own, .While on the Above given Chart EMA is in to down trend the MA which is a early signal for Bearish movement for Nifty . The globle market also in Support for Bear movement, There is a chances for Nifty50 to give gap-down opening in next week. So we can expect that if the Nifty is crossing the level of 7700 it can make the high of 7750-7800 for Next Week. Weekly Support of Nifty Is 7319-7250 And Resistance is 7663-7765.

BANK NIFTY MACD

Details of Chart On the Above given weekly chart of Bank Nifty applied 100 days Moving Average along with 50 days Exponential Moving Average . And the both are the indicators on Bear movement for Bank Nifty. from long time the Bank Nifty has seen the Near level of 16900-17100. The market is now not in good shape so we could expect the Bear movement from the Bank Nifty for Next week.

Hope from Banking industry is also not performing well specialy PSU Banks for next week, so we can assuming further downtrend movement of Bank Nifty The Crucial level for Banking Nifty is 16037-15791 if the Bank Nifty is holding above that level. we can Expect the Bank Nifty 16200-16325 level near next week. The major Resistance for Nifty Is 16283-16529 And the Support for Banking Nifty is 16037-15791 .

NSE EQUITY DAILY LEVELS COMPANY NAME

R2

R1

PP

S1

S2

ACC ALBK

EQ EQ

1326 66

1310 66

1293 65

1277 64

1260 63

AMBUJACEM ASIAN PAINT AXISBANK BAJAJ-AUTO BANKBARODA BANKINDIA BHEL BHARTIARTL CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK ITC INDUSIND BANK INFY JINDALSTEL KOTAKBANK LT M&M MRF MARUTI ONGC ORIENTBANK RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ

203 889 422 2478 145 112 159 329 658 334 117 3064 378 3646 848 1253 1066 2559 80 838 249 321 958 1074 90 166 1231 1215 39766 4367 235 131 85 438 1041 597 61 214 85 814 361 71 259 139

200 882 418 2459 143 111 156 326 640 328 115 3041 375 3615 836 1214 1064 2526 78 825 247 318 952 1069 88 165 1206 1208 39273 4286 232 129 84 432 1033 590 60 212 83 804 357 70 256 138

197 874 414 2395 14 110 154 322 627 322 111 3008 373 3564 825 1192 1060 2506 77 819 245 313 942 1062 84 164 1191 1200 38977 4243 229 128 83 427 1025 582 58 210 81 795 351 68 252 137

195 867 410 2346 139 109 152 319 609 316 109 2984 370 3533 813 1153 1058 2473 75 806 243 310 936 1057 81 163 1166 1193 38484 4162 226 127 82 421 1017 575 57 208 79 785 347 67 249 136

192 859 406 2312 137 108 150 315 596 310 105 2951 368 3482 802 1131 1054 2453 74 800 241 305 926 1050 78 162 1151 1185 38188 4119 223 126 81 416 1009 567 54 206 77 776 341 65 245 135

TOP 15 ACHIEVERS

SR.NO

SCRIPT NAME

PREV CLOSE

2

TORRENT POWER 219.30 LTD 1.

GATI LTD. 152.25

3

SREI INFRA

4

1

60.90

CMP

//

% CHANGE

231.05

+ 5.36 %

159.95

+5.06 %

63.50

+4.27 %

672.00

+3.98 %

5

7.

BF 646.25 UTILITIES LTD. ADANI POWER LTD. 32.05

33.20

+3.59 %

6

SHRIRAM TRNSPORT 821.90

848.85

+3.28 %

7

RELIANCE INFRA

564.85

581.50

+2.95 %

8

EID PARRY

187.00

192.50

+2.94 %

9

KPIT

158.75

163.30

+2.87 %

10

TECHNOLOGIES INDIA CEMENT LTD 92.75

95.35

+2.80 %

11

YES BANK LTD

697.05

+2.79 %

12

ADANI ENTERPRISES 80.15

82.35

+2.74 %

13

FIRST SOURCE SOLU 39.55

40.60

+2.65 %

14

TATA MOTORS LTD

343.20

352.05

+2.58 %

15

AMTEK AUTO LTD

46.60

47.80

+2.58 %

TORRENT POWER LTD

219.30

231.05

+ 5.36 %

678.15

SR.NO

TOP 15 LOOSERS

SCRIPT NAME

PREV CLOSE

CADILA 385.15 HEATHCARE 2.67+3.67+4.67+5.

J672+J 6.67 J IDBD J BANK J LTD. 90.20 E262E262E262E262E26 T941T941T941T9431T94 VEDANTA 91.90 ... ... ... ... ..

A2 92 0+ 29.

A2 92 0+ 210.

A2 92 0+ 211.

A 92 0+ 2E A2 92 0 EJINDAL 8.

E2 E E ST & PWR 94.70 412.

I1 54 01 8N I1 54 01 8N I1 54 01 8N I1 54 01 8N I1 54 0 N R773G R773G R773G R773G R G 117.75 5 77 PNB IW . . .% IW . . .% IW . . .% IW . . .% IW ..

A A A A A N 5 7 8 N 5 7 8 N 5 7 8 N 5 7 8 N 5 7 A33+A33+A33+A336+A33 TATA MOTORS 393.50 Y Y Y Y Y E D5 00 36 1E D5 00 36 1E D5 00 36 1E D5 00 36 1E D5 00 3 LTD. S S S S S E E E E E A. . 2A. . 2A. . 2A. . 72A. . BANK OF 156.20 R N06% .R N06% .R N06% .R N06% .R N06 BARODA S S S S S I4 04 0+ 0M I4 04 0+ 0M I4 04 0+ 0M I4 04 0+ 0I 00 M 169.50 8M44 BHEL 0P489 0P489 0P489 0P48 489 M IP. . . M IO. . . M IO. . . M IO. . . M IO. . IPCA LAB 748.75 9N N N N N O038 % W % W % W % W T T 038 T 038 T 038 T 03 D D D D D W E2 E2 E2 E2 02 5+ 9P 02 5+ 9P 02 5+ 9P 02 5+ 9P 02 5 HINDALCO P 2 84.60 IC IC E689IC R689IC R689IC R6810 9R68 INDUS. U U U U U A A A A A R. . .%. . .%. . .%. . .%. . AXIS BANK LTD. 455.15 L152N L152N L1511 L15 N 152N 2N L L000L T000L T000L T000L T00 J 66+J 66+J 66+J 6612 +J 66 TATA ELEXSI LTD 2242.35 J J J J D T D D J D T398T 398 398T398T39 A A A A A D % . % . % . % . . . . . . . . . . . . . . . UNION BANK OF 149.70 D . D D D 13D IL922IL922IL922IL922IL92 INDIA . 501. 501. 501. 501. 50 D +D 2711.65 N11+D N11+D N11+D N1114 N11 HERO L 127L127L127L127L12 MOTOCORP L % L % L % L % L . O31 L&T 1284.30 O31. O31. O31. O3115 F IY. . 3F IY. . 3F IY. . 3F IY. . 3F IY. .

472 472 472 472 47 R D00 R D00 R D00 R D00 R D00 L L L L L R % R % R % R % R T T T T I I I I T I 1

D G .A

D G .A

D G .A

D G .A

D G .A

I

I

I

I

I

CMP

% CHANGE

310.10 -19.49 % 78.10 -13.41 % 81.05 -11.81 % 84.45 -10.82 % 105.15 -10.70 % 353.45 -10.18 % 140.50 -10.05 % 153.70 -9.32 % 680.25 -9.15 % 76.90 -9.10 % 413.85 -9.07 % 2052.10 -8.48 % 137.10 -8.42 % 2489.00 1179.85

-8.21 % -8.13 %

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION) T T T T T O O O O O

NSE CASH

N N

N

N

N

VEDL NSE CASH : VEDL CORRECTED ABOUT 10% LAST WEEK AND MADE LOW OF 79.15.IT RECOVERED FROM LOWER LEVELS AND WAS TREADING ABOVE 82 ON LAST TREADING SESSION OF THE WEEK.IF TI BREAKS 83.50 THEN UPWARD MOMENTUM CAN BE SEEN.LONG POSITION CAN BE MADE ABOVE 83.50 FOR TGT AND SL OF 92.50 AND 80.

IBREALEST NSE CASH : IBREALEST MOVED UPWARD IN LAST TREADING HOURS ON FRIDAY. IT CAN MOVE UPWARD FURTHER IF BREAKS THE LEVEL OF 61.50. LONG POSITION CAN BE MADE ABOVE 61.50 FOR TGT AND SL OF 67 AND 59.50RESPECTIVELY.

GODFRYPHLP NSE CASH : LONG POSITION CAN BE MADE IN GODFRYPHLP ABOVE 1450 FOR TGT AND SL OF 1595 AND 1395 RESPECTIVELY.

I97- I 97- I 97- I 97- I 97 D081D081D081D081D08 B. . 3B. . 3B. . 3B. . 3B. .

D21. D21. D21. D21. D21 08 0-4J 9 08 0-4J 9 08 0-4J 9 08 0-4J 9 08 0 J9 IB441IB441IB441IB441IB44 A. . 0N A. . 0N A. . 0N A. . 0N A. .

N N74.%D N74.%D N74.%D N74.%D N74 D K K K K K A T0 35 38 -A T0 35 38 -A T0 35 38 -A T0 35 38 -A T0 35 3 L A952 1L A952 1L A952 1L A952 1L A95 L L L L L T330T330T330T330T33 T T T T T S A. . % .S A. . % .S A. . % .S A. . % .S A. .

D541T D541T D541T D541T D54 T B11- B1 1- B1 1- B1 1- B1 1 .M . . .

059 8H M6 059 8H M6 059 8H M6 059 8.H M6 05 H6 & & & & & O93. E O93. E O93. E O93. E O93 E T. . 3 %L T. . 3 %L T. . 3 %L T. . 3 %L T. .

L P P P P O8 O8 O8 O8 O8 57-2H 57-2H 57-2H 57-2P 57 H H W W W W 06 09IR4 06 09IR4 06 09IR4 06 09W 06 0 IR4 IR4 R R R R R S. . .%N S. . .%N S. . .%N S. . .%N S. .

N D691D691D691D691D69 L000A L 00A L 00A L 00A L0 A T22- T0 22- T0 22- T0 22- T0 22 T L T T L T T L A208A208L A208A208L A20 D %C D %C D %C D %C D C T45. T45. T45. T45. T45 . O . . O . .

O A224A224O A224A224O A22 .2 . -8H2 .2 . -8H2 .2 . -8H2 .2 . -8H2 .2 .

H2 IE7 I I I 34 18E7 34 18E7 34 18E7 34 18IE7 34 1 N N N N N L1 58 0.%R L1 58 0.%R L1 58 0.%R L1 58 0.%R L1 58 0 R D D D D D E192O E192O E192O E192O E19 O U. . 1X U. . 1X U. . 1X U. . 1X U. .

X S60 M S60 M S60 M S60 M S60 M I. 50%O I. 50%O I. 50%O I. 50%O I. 50 O L T L T L T L T T L O T O T O T O T O T C D C D C D C D C D O O O O O R R R R R P P P P P

DHFL NSE CASH : DHFL LONG POSITION CAN BE MADE IN DHFL ABOVE 225 FOR TGT AND SL OF 244 AND 218 RESPECTIVELY.

KSCL NSE CASH : KSCL GAINED 18% LAST WEEK AND MAY CONTINUE ITS UPWARD MOMENTUM . LONG POSITION CAN BE MADE ABOVE 381 FOR TGT AND SL OF 415 AND 369.

NSE FUTURE IDFC FUTURE : IDFC FUTURE SHOWS BEARISH TREND CONTINUOUSLY WE CAN EXPECT FURTHER DOWNSID E MOVEMENT IN IDFC BELOW 46.70 TGT 40 SL 48.

IBREALEST FUTURE : WE CAN MADE LONG POSITION IN IBREALEST FUTURE ABOVE 61 TGT 70 SL 59.

IRB FUTURE : IRB SHOWS BEARISH TREND TODAY .ON DAILY CHART OF IT ALSO DOWNSIDE MOVEMNET. WE CAN MADE SHORT POSITION IN IRB BELOW 245 TGT 230 SL 250.

LICHSGFIN FUTURE : LICHSGFIN SHOWS BULLISH TREND IN DAILY CHART . WE CAN EXPECT FURTHER UDSIDE MOVEMENT IN IT ABOVE 515 TGT 570 SL500.

ASHOKLEYLAND FUTURE:

ON DAILY CHART OF IT SHOWS BULLISH MOVEMENT WE

CAN MADE LONG POSITION IN IT ABOVE 92 TGT 102 SL 89.

NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK

India manufacturing PMI falls to 49.1 in Dec; lowest in 28 months - Indian manufacturers saw business conditions deteriorate at the end of 2015. Dipping from 50.3 in November to 49.1 in December, the seasonally adjusted Nikkei India Manufacturing Purchasing Managers‟ Index – a composite single-figure indicator of manufacturing performance – pointed to a deterioration in operating conditions across the sector, with the PMI posting below the no-change level of 50.0 for the first time since October 2013.

December‟s incessant rainfall in Chennai impacted heavily on the sector, with falling new work leading companies to scale back output at the sharpest pace since February 2009.

On the price front, inflation rates of both input costs and output charges were at seven month highs.

Jaitley hopeful of GST Bill passage in budget session - Union Finance Minister Arun Jaitley stated that the government is hopeful of the passage of the Goods and Services Tax Bill in the Budget session of Parliament, says report. “Halfway through the next session, the numbers in the Upper House will also change,” Jaitley said. The GST is expected to boost economic growth by one to two per cent , Jaitley reportedly said. The Finance Minister added that he would be continuing talks with the States and all the political parties to ensure the passage of the Bill. “We are in the stage of readiness as far as those legislation are concerned which will have to be passed then by the Central government and by the State governments,” Jaitley said.

Rs. 10,000 crore! Excise hike in petrol, diesel could fetch this for govt - The hike in excise duty on petrol and diesel will help the government garner an additional Rs 10,000 crore in the fiscal, according to reports. The government raised excise duty on petrol and diesel three times in last two months. Government increased excise duty on petrol by Rs 0.37 per litre and by Rs 2 a litre on diesel last week. The basic excise duty on unbranded or normal petrol has been hiked from Rs 7.36 per litre to Rs. 7.73 and on unbranded diesel from Rs 5.83 to Rs 7.83 per litre, according to Central Board of Excise and Customs notification.

China Caixin Manufacturing PMI dips to 48.2 - China Caixin Manufacturing PMI for December was lower than expectations at 48.2 as operating conditions faced by Chinese goods producers continued to deteriorate in December. Production declined for the seventh time in the past eight months and data suggested that client demand was weak both at home and abroad, with new export business falling for the first time in three months in December. Manufacturers continued to trim their staff numbers and reduce their purchasing activity in line with lower production requirements. Meanwhile, deflationary pressures persisted, as highlighted by further marked declines in both input costs and selling prices.

India has emerged as the world's fastest growing economy:Arvind Subramanian Chief Economic Advisor Arvind Subramanian reportedly said that India has emerged as the world's fastest growing economy not with standing global demand slowdown and four droughts. Arvind Subramanian said that there has been improvement in quality of spending toward capital, fiscal consolidation at central and state levels. The commentary on Mid-Year Economic Analysis, presented in Parliament last month, has focused on challenges, Arvind Subramanian said.

Blame it on China! Why India could suffer due to China's woes - Yet another tremor from China is set to shake some of the prominent sectors like Auto, Tyre, Iron ore, Steel in India. The bloodbath in Chinese stock market has affected Indian equity markets also.

The Chinese slowdown has dragged S&P BSE Sensex and Nifty down by nearly 2%.

Oil stocks slide on hike in excise duty on petrol & diesel and tension between Saudi Arabia and Iran - Shares of Oil companies ended lower on escalating tensions between Saudi Arabia and Iran International oil prices which were trading as high as 3% in the morning trade ended the day marginally higher. Brent Crude oil ended marginally up 0.40% at US$ 37.43/bbl, while WTI Crude Oil too ended marginally up 0.24% at US$37.79/bbl.

Siti Cable rallies 8%; RBI permits foreign investors to buy up to 49% - SITI Cable Network rallied 8% to Rs.39.75 on BSE. Reserve Bank of India has notified that Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 49 per cent of the paid up capital of SITI Cable Network Limited under the Portfolio

Investment Scheme. The scrip opened at Rs. 39.7 and has touched a high and low of Rs. 41.7 and Rs. 39.45 respectively. So far 3390832(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2493.69 crore.

Public investment to drive efforts to revive economy: Arun Jaitley -: Finance minister Arun Jaitley reportedly said that the increased government spending through more funds in the form of public investment will continue to drive the efforts to revive the economy.

“We made an increased allocation towards public investment last year. Public investment will continue to remain stepped up,” FM Jaitley was quoted as saying.

December topline seen up just 2% despite base-effect prop: CRISIL Research -: CRISIL Research, India‟s largest independent and integrated research house, expects corporate excluding BFSI and oil & gas companies revenue to grow a measly 2% in the three months ended December 31, 2015, driven by low-base effect growth in the corresponding quarter of last fiscal was just 5% amid crushed commodity prices, weak investment demand, flagging rural consumption. Exclude sectors with topline linked to the commodity cycle steel, petrochemicals and manmade fibres, and revenue growth would improve – but only by 5.4%.

Moody's: Oil and gas industry to cut spending in 2016 - As commodity prices continue to slide, the global oil and gas industry will reduce capital spending and work toward leaner budgets in 2016, says Moody's Investors Service. "Excess supply will continue to drag on commodity prices in 2016 in the global oil markets and the US natural gas market," said Steven Wood, a Moody's Managing Director. "Furthermore, the potential lifting of sanctions against Iran could bring even more supply to the market in 2016, offsetting any expected declines in US production."

India Inc's Q3 earnings revival could be tepid - India Inc‟s earnings growth has remained stagnant with several rounds of downgrades all through Calendar 2015. Over the past few months many analysts predicted the earnings growth to resume from the second half of this financial year, thanks mainly on the back of base effect and partially on the strength of the crash in commodities, which has lowered input costs and improved margins. However, the much-awaited earnings revival in the December quarter may not be a big bang one. That‟s because the demand scenario in the economy continues to be bleak.

Strategic Debt Restructuring helping banks delay the inevitable NPA recognition In a recent finding, RBI claimed that nearly 20% of all Indian companies had borrowed more than what they can be comfortably repay. This clearly shows that the level of distress in leveraged Indian companies is growing unabated. To counter this problem that is a precursor to rise of NPAs, RBI had introduced the Strategic Debt Restructuring scheme to help banks solve the problem of increasing bad loans.

India VIX rises 6%; hits highest level in over 3 weeks - India VIX today rose 6% at 17.64. The India VIX has jumped to its highest level in since December 15. Indian stocks have fallen to lowest since December 14. On 17th Decembe VIX had slumped to 15.4%.

Asian stock market is trading lower after the People's Bank of China set the yuan‟s reference rate at 6.5646, the lowest levels since April 2011.

People's Bank of China sets Yuan’s reference rate at lowest levels since April 2011 In China, People's Bank of China has set the Yuan‟s reference rate at 6.5646, the lowest levels since April 2011. Offshore, the currency today is trading around 6.59 levels against the greenback. The sharp weakness is also attributed to the meltdown in Chinese equity markets, wherein trading is halted for today as well after the breach of the downside circuit levels. In order to stem the rout in the markets, Chinese central bank has injected further liquidity by initiating weekly reverse repos worth US$70bn.

India will maintain fast pace of growth in 2016: World Bank - Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 percent pace, from 2.4 percent growth in 2015, as advanced economies gain speed, according to the World Bank‟s January 2016 Global Economic Prospects. Simultaneous weakness in most major emerging markets is a concern for achieving the goals of poverty reduction and shared prosperity because those countries have been powerful contributors to global growth for the past decade. Spillovers from major emerging markets will constrain growth in developing countries and pose a threat to hard-won gains in raising people out of poverty, the report warns.

ASSOCHAM Pre-Budget Interaction with Finance Minister - The Union Budget 2016 is poised to be a game changer in reviving investment, economic growth and job creation, enabled by the next generation reforms to fast-track India‟s economic

resurgence. The following are ASSOCHAM‟s recommendations in this regard, Use the Infrastructure Finance Companies like IIFCL to rebuild the capacity of the private infrastructure sector by making it easier for them to raise funds. Since IFCs have the necessary expertise, they should also be used as ARCs for the infrastructure sector, helping revive stranded projects. NIIFIs a good first step but more needs to be done.

Recommend that a taskforce on infrastructure finance under JS, Infra be setup to take this forward. Pension and insurance funds should be allowed to invest in any investment grade paper, not just AA.

TOP ECONOMY NEWS The latest data on core sector growth once again puts a question mark on the claims about green shoots of recovery and growth revival in the domestic economy. Official data showed India‟s core sector contracted 1.3% in November after expanding for six consecutive months. The latest data print had an obvious reflection of the crisis in commodities, where weak demand and poor imports have led to a sharp decline in the steel industry.

India's passenger vehicle industry ended on a high in 2015, with a double digit rise in December sales helping the sector with deep economic linkages post its best annual showing in four years and strapping it with confidence to face the year ahead.

The National Highway Authority of India is likely to use Gujarat State Fertiliser and Chemicals „Nylon 6 fibre products‟ for its infrastructure projects including construction of roads across the country.

More than two billion people globally will use mobile devices to connect to the Internet in 2016, with countries like India, China and Indonesia leading the way, research firm IDC said.

Railway Minister Suresh Prabhu reportedly said that railways would help push India's GDP by 2.5 per cent in the coming years.

Every time the government releases trade data, the Narendra Modi government's

ambitious target of doubling India‟s exports to $900 billion by 2020 looks more distant.

Road projects worth Rs 410 billion for Telangana, including two Express Highways from the state capital Hyderabad to Bengaluru in Karnataka and Vijayawada in Andhra Pradesh have been announced by the Central Government.

Telecom regulator TRAI will come out with recommendations on the reserve price of various spectrum bands for the next round of auction by January 15.

As a confirmation of the subdued sentiment in India Inc, investment proposals to set up new capacities declined substantially in the quarter ended December 2015, according to the economic think tank Center for Monitoring Indian Economy.

Jharkhand would be the first state to sign an MoU with Centre for the Ujwal Discom Assurance Yojana reforms for state-owned power distribution companies.

The seasonally adjusted Nikkei India Manufacturing Purchasing Managers‟ Index – a composite single-figure indicator of manufacturing performance – reflected a deterioration in operating conditions across sectors in December, with the index posting below the no-change level of 50.0, which is the lowest in 28 months since October 2013.

Private equity investors are expected to infuse more money into India‟s real estate market in a sign of their continuing confidence in the long-term viability of a sector that has struggled for the past two years.

China General Services Business Activity Index posting just over the no-change 50 mark at 50.2 in December, down from 51.2 in the previous month. Furthermore, this was the second-lowest index reading since the series began in November 2005.

The government has removed the 5% export duty on iron ore pellets as it meets yet another demand of steel and mining sector companies reeling under low demand and weak prices.

The Federation Of Tamil Nadu Agriculturists Associations has urged the Centre and Tamil Nadu and Kerala governments to consider implementing a pioneer but shelved

Pandiyar Punnampuzha project on the basis of 'water for Tamil Nadu and electricity for Kerala,' with top priority in the interest of National integration.

Jayant Sinha,Minister of State for Finance reportedly said that the Centre working on a detailed medium-term fiscal plan and debt dynamics.

China's apparent oil demand rose 1.5% in November from a year earlier to 10.95 million barrels per day , According to the Platts China Oil Analytics report on the latest Chinese government data.

Growth in India's services firms rose at its fastest pace in 10 months in December as demand picked up, a business survey showed on Wednesday. The Nikkei/Markit Services Purchasing Managers' Index surged to 53.6 in December from November's 50.1, marking a sixth month above the 50-level that separates growth from contraction.

Total money market fund assets decreased by US$24.39bn to US$2.73 trillion for the week ended Wednesday, January 6, the Investment Company Institute reported today.

Among taxable money market funds, government funds increased by US$3.00bn and prime funds decreased by US$32.30bn. Tax-exempt money market funds increased by US$4.91bn.

Issues including impact of FTAs signed by India, ways to promote start-ups and boost economic growth were deliberated upon during the meeting between Commerce Ministry and the industry chambers.

A minimum dividend of 30 per cent, declaration of special dividend and issue of bonus shares are the new guidelines from the central government as the owner for central public sector enterprises.

RBI Governor Raghuram Rajan reportedly said there is need to avoid beggar-thyneighbour policies and sustained exchange-rate intervention that primarily induce capital outflows.

TOP CORPORATE NEWS Infrastructure major Punj Lloyd has won four highway projects worth Rs. 1,555 crore in Bihar, Chhattisgarh, Odisha and Punjab from the central government.

Wipro Limited has appointed TK Kurien as the Executive Vice Chairman and Abidali Z Neemuchwala as the Chief Executive Officer and Member of the Board of the company.

Both these appointments are effective February 1, 2016.

Dabur India has announced its foray into the premium baby care market with the launch of 'Dabur Baby', a new brand which will have a range of baby care products prepared with natural oils.

Bajaj Auto sales during December remained flat at 2.89 lakh units mainly on the back of a 12 per cent dip year-on-year in exports.

Coal India Ltd. has produced 52.07 million tonnes of coal in December last year, surpassing its target of 51.08 mt.

TVS Motors reported a 4 per cent increase in total sales at 2,02,086 units in December.

Tata Motors reported 4 per cent decline in sales at 39,973 units for December compared to 41,734 vehicles in December 2014.

Mahindra & Mahindra on Friday reported 4% increase in total sales at 37,915 vehicles in December. The company had sold 36,328 units in December 2014, M&M said in a statement.

Countryâ€&#x;s largest car-maker Maruti Suzuki India reported a 8.5 per cent increase in total sales in December at 1,19,149 units as against 1,09,791 units in the same month in 2014 on the back of good sales of models like Baleno.S-cross.

Drug firm Novartis India has completed the transaction to sell its animal health business to Elanco India, an affiliate of Eli Lilly.

L&T Infotech, a subsidiary of Larsen & Toubro, has received capital markets regulator Sebi's approval to float an initial public offering worth Rs 20bn.

IRB Infrastructure has bagged India's largest road transport contract totaling to Rs 100.5 billion.

JSW Steel said the Karnataka High Court on December 3 gave the steel maker a partial relief in the Forest Development Tax case.

Titan Co. Ltd. expects to take a hit of up to Rs 5bn this fiscal due to government's move to lower the transaction threshold of quoting PAN to Rs 200,000 from Rs 500,000 earlier.

Drug firm Suven Life Sciences has been granted a patent each by Canada, South Korea and ARIPO for a drug used in the treatment of neuro-degenerative diseases.

MBL Infrastructures has bagged two projects aggregating to Rs 609.12 crore.

Income-Tax officials are conducting investigation at the Apollo Hospitals' facilities at multiple locations across the country.

Competition Commission has given its approval to Reliance Capital Asset Management's proposed acquisition of global giant Goldman Sachs' mutual fund business in India for Rs 243 crore.

State-run power equipment maker BHEL has commissioned a 600 MW unit at Kakatiya Thermal Power Project, Telangana.

Tata Consultancy Services Ltd. has reportedly joined the bidding process for Perot Systems, IT management business of Dell Inc, according to sources.

Bajaj Corp Ltd. has reported a 18.7 percent year-on-year growth in standalone profit at Rs 49.6 crore for quarter ended December 2015, boosted by gross margin growth but topline was muted.

Jet Airways Ltd. is planning to move the Bombay High Court to seek approval for

convening shareholders meet on the merger of its subsidiary JetLite with the parent company.

Mahindra & Mahindra has launched a premium pickup Imperio that sports SUV looks and superior performance with a price starting of Rs 625,000.

SRF Ltd would begin operating the Chennai plant in phases after the factory was temporarily shut last month due to flooding on heavy rainfall.

Cipla Ltd. has inked a pact with US-based BioQ Pharma for registration and commercialisation of latter's Ropivacaine infusion system, used in treating post-operative pain, in India.

Glenmark Pharmaceuticals has received a tentative nod from the US health regulator for generic version of Sanofi-Aventis' cardiac drug Multaq.

Engineering major Larsen & Toubro said its construction arm has bagged contracts worth Rs 2,871 crore across businesses in both domestic and international markets.

Jaiprakash Associates Ltd. has signed an agreement with Shree Cement to divest its stake in the 2.1-MT Bhilai Jaypee Cement for an enterprise value of Rs 21-22bn.

National Buildings Construction Corporation Ltd has informed BSE that is secured total business amounting to Rs. 8523 crore in December, 2015.

Kalpataru Power Transmission has acquired 100% equity share capital of an SPV Company Alopurduar Transmission Ltd .

TOP BANKING AND FINANCIAL NEWS OF THE WEEK The Reserve Bank of India on Monday said that it has imposed a penalty of Rs.1 crore on State Bank of Travancore for deficiencies in reporting to the Central Repository of Information on Large Credits database.

State Bank of India is all set to buy four flats in the Mumbai's Peddar Road area in an all-cash deal from the loss-making Air India for Rs 900 mn.

IndusInd Bank is planning to enter the low-cost housing loans segment and is in the final stages of stitching up a partnership with a payments bank licencee shortly.

Public sector lender Bank of India said it has raised Rs. 3,000 crore by issuing Basel-III compliant tier-II bonds.

Kotak Mahindra Bank Ltd. has informed BSE that the Bank on January 01, 2016 has acquired 10,00,000 equity shares at Rs. 10/- each aggregating to Rs. 1 crore being 9.99% of the paid-up capital of Institutional investor Advisory Services India Limited.

IDBI Bank has raised Rs. 19 billion through two separate Basel-III complaint tier-II bonds on private placement basis.

Punjab National Bank has launched a host of digital banking solutions including green PIN and enhancement of its mobile app.

Canara Bank has informed BSE that as per the powers delegated by the Board of the Bank, the Bond Committee has decided to raise Basel III Compliant Tier -II Bonds amounting to Rs. 900 Crore by way of Private Placement. Accordingly, the Bank has successfully raised Rs. 900 Crore under BASEL-III Compliant Tier-II Bonds on January 07, 2016 with a coupon of 8.40 % PA .

The government is ready to give a strategic role and a board seat to a credible investor in IDBI Bank under a proposed transformation programme that was kick-started last week.

Indiaâ€&#x;s finance ministry is considering a plan to sell part or all of its stake in Axis Bank Ltd, valued at $1.7 billion, to bolster its efforts to narrow the countryâ€&#x;s fiscal deficit, people familiar with the matter said.

The Government of India is unlikely to go for a strategic stake sale of state-owned IDBI Bank during the current fiscal due to some procedural issues.

SBI along with its associate bank State Bank of Travancore has sold loans extended to a unit of Kohinoor Group, owned by a former chief minister of Maharashtra, as the company is struggling to repay its liabilities primarily due to a slowdown in the real estate business.

Bank of India has allotted 20 mn shares to Life Insurance Corporation of India valued at Rs 2641.2 million.

ICICI Bank Ltd. will spend Rs 100 crore in corporate social responsibility projects in the country this fiscal, managing director and chief executive officer Chanda Kochhar said.

This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only.

This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or commodities.

All information, levels & recommendations provided above are given on the basis of technical & fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion. People surfing through the website have right to opt the product services of their own choices.

Any investment in commodity market bears risk, company will not be liable for any loss done on these recommendations. These levels do not necessarily indicate future price moment. Company holds the right to alter the information without any further notice. Any browsing through website means acceptance of disclaimer.