TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : The Market has started flat on Tuesday but soon gained strenght. The Nifty hit 7500, up 16.55 points. Most Asian markets were trading lower , We have seen a big move in markets in a very short period of time. With some choppiness, and the kind of intraday pullbacks we have had in the past couple of days, there is a good chance that we will see higher levels. it is looking at rallies that possibly heading towards 7,680-7,700 level. Emerging Market and commodity currencies were supported by recovery of crude oil prices, The US market higher on crude price recovery. The Rate cut action by RBI is also anticipated after the government achieved the fiscal deficit target, China's February exports data release disappointed. market expectations, falling 25.4 per cent from a year earlier. The European Central Bank on Thursday cut its main refinancing rate to zero from 0.05 percent and increased monthly asset buys to 80 billion euros from 60 billion euros.The trend for Nifty is seem bull the crucial level for Nifty will be 7680 Upside and 7420 in down side.
BANK NIFTY : - The Bank Nifty opened lower on Monday at 15323 down by 16 points or 0.19 %. The Reserve Bank of India could slash repo rates yet again in its scheduled policy review meet, or a rate cut prior to the meeting could well, lie in the offing. The Europe Central Bank stimulus in the form of rate cuts further into negative territory and higher than expected increase in bond buying programme. The rating agency CRISIL downgraded the Public Sectors Banks, expectation that the asset quality problems being faced by PSBs will remain acute and continue through most of the next fiscal. The Resistance for Bank Nifty is 15489-16117 and Support for Bank Nifty is 14860-14620.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
R2 7750
WEEKLY
R2 7849
MONTHLY
R2 8877
R1
PP
S1
S2
7586
7504
7422
7258
R1
PP
S1
S2
7611
7492
7373
7135
R1
PP
S1
S2
7867
7362
6857
5847
Monday, 14 March 2016
BANK NIFTY DAILY
R2 16117
WEEKLY
R2 16213
MONTHLY
R2 19040
R1
PP
S1
S2
15489
15175
14861
14233
R1
PP
S1
S2
15513
15163
14813
14113
R1
PP
S1
S2
16276
14894
13512
10748
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
7248
7388
7659
7944
BANK NIFTY
14422
15254
16222
17109
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
7140
7590
8083
BANK NIFTY
14243
16088
18633
PATTERN FORMATION ( NIFTY )
Detail of Chart On the Above given weekly chart of Nifty Applied Bollinger Band along with Parabolic SAR. and the Bollinger Band is in the spread range it has break the Upper band of the Bollinger Band and after breaking the level it has made the double bottom last week and break the and now it is the channel line also and reverse in the bear trend which is indicating the bear movement for the Nifty the crucial Support for Nifty is 7422-7250 and the Resistance for Nifty is 7580-7750 , if the Nifty is able to Range-bound the level of 7500 we may witness the bull movement and if it is not able to hold the crucial level of 7500 we may witness Bear movement for next week.
PATTERN FORMATION ( BANK NIFTY )
Details of ChartOn the Above given weekly chart of Bank Nifty Applied Bollinger Band along with Parabolic SAR. and the Bollinger Band is in the spread range it has break the Upper band of the Bollinger Band and after breaking the level it has made the double bottom last week and break the and now it is the channel line also and reverse in the bear trend which is indicating the bear movement for the Nifty the crucial Support for Bank Nifty is 1480014650 and the Resistance for Nifty is 16100-15600 , if the Bank Nifty is able to Sustain the level of 15200 we may witness the bull movement and if it is not able to hold the crucial level of 15000 we may witness Bear movement for next week.
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
R2 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
1248 53 204 909 427 2363 145 96 106 340 542 329 115 3249 349 3658 833 1179 1041 2857 86 874 221 326 941 1162 69 667 1217 1242 35331 3723 209 90 53 375 1028 515 47 184 91 880 377 60 302 127
R1
PP
S1
S2
1237 52 202 904 419 2342 143 95 105 339 537 324 111 3233 345 3620 829 1169 1034 2832 85 865 217 324 933 1151 66 655 1202 1230 35016 3682 207 89 53 373 1024 512 47 183 90 876 372 60 299 125
1228 51 201 897 414 2326 140 93 103 336 534 320 106 3205 340 3592 820 1158 1024 2814 83 848 215 319 926 1145 64 648 1186 1223 34482 3649 206 88 53 372 1022 510 47 183 89 872 365 59 297 124
1217 50 199 892 406 2305 138 92 102 335 529 315 102 3189 336 3554 816 1148 1017 2789 82 839 211 317 918 1134 61 636 1171 1211 34167 3608 205 87 52 370 1018 507 47 182 88 868 360 59 294 122
1208 49 198 885 401 2289 135 90 100 332 526 311 97 3161 331 3526 807 1137 1007 2771 80 822 209 312 911 1128 59 629 1155 1204 33633 3575 204 86 52 369 1016 505 46 181 87 864 353 58 292 121
TOP 15 ACHIEVERS
SR.NO
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
PREV CLOSE
SCRIPT NAME
CMP
//
CAIRN INDIA LTD.
126.10
149
+18.16 %
TATA MOTORS LTD.
317.10
367.80
+15.99 %
VEDANTA
78.15
89.15
+14.08 %
TATA STEEL
267.55
297.60
+11.23 %
BOSCH LTD.
16875
18360
+8.79 %
ADANI PORTS
218.80
237
+8.34 %
BHEL
97.10
104.90
+8.03 %
YES BANK LTD.
755.25
807.40
+6.90 %
HDFC
1099
1171
+6.58 %
GAIL (INDIA) LTD
324.40
345.65
+6.55 %
DR. REDDY’S LABS
3015
3204
+6.29 %
ONGC
194.95
206.40
+5.87 %
INDUSIND BANK
882.60
930.75
+5.46 %
L&T
1137
1198
+5.32 %
LUPIN LTD.
1781
1863
+4.60 %
NEXT WEEK PRIDICTION ) NSE FUTURE
STARS
SR.NO
% CHANGE
(
AS
TOP 15 LOOSERS
SCRIPT NAME
MINDTREE LTD.
PREV CLOSE
CMP
% CHANGE
1525
660
1.33+2.33+3.33+4. T332+5. T33 TIPCA T LABORATORIE T 589 A161A161A161A161A16 T775T775T775T7735T77 RAJESH EXPORTS L 703 A. . . A. . . A. . . A. . . A. . APOLLO HOSPITALS 6.22+7.22+8.22+9. T22+10. T22 T T T 1497 189 189 189 1849 18 A691A691A691A691A69 M 009M 009M 009M 009M 00 999 T771T771T771T7751T77 EMAMI LTD. O O O O O A. . . A. . . A. . . A. . . A. . UNITED SPIRITS LTD A 2509 T22+%A T22+%A T22+%A T22+%A T22 562 562 562 5662 56 D O138D O138D O138D O138D O13 S503S503S503S5073S50 RCOM 54.65 A R87. A R87. A R87. A R87. A R87 T T T T T N N . 3N . 3N . 3N . IDEA CELLULAR SY.783 S S S S 106 E +%Y E78+%Y E78+%Y E78+%Y E78 I8 4I 8 4I 8 4I 8 84I 8 506E506E506E506E50 EEP E E E E P L0 L0 P L0 P L0 P L0 HCL TECHNOLOGIES 854 L57. L57. L57. L579. L57 O %O %O %O %O ST. . 9ST. . 9ST. . 9ST. . 9ST. . DCB BANK G 3+G 79.40 R R33+G R33+G R33+G R33 D3 240D240D240D210 40D24 T.A246T.A246T.A246T.A246T.A24 50 50 50 50 50 11 . S45 BANK OF BARODA 145 S45. S45. S45. S45 B %B %B %B %B I. . 5I . . 5I . . 5I . . 5I . . IDFC BANK O12+O12+O12+O12 +O12 48.95 65A465A465A412 65A46 A4 L905L905L905L905L90 N05 N05 N05 N05 N05 INDIAN HOTEL CO. 100 13 . N46 N46. N46. N46. N46 % % % % G. . 8G. . 8G. . 8G. . 8G. . PI INDUSRTRIES LK11+LK11+LK11+LK11 +L11 574 47( 947( 947( 914 47K (9 ( 94 C115C115C115C115C11 &50 &50 &50 &50 &50 . I 39 ACC 1243 I39. I 39. I 39. I 39 % % % 15 % TL783TL783TL783TL783TL78 N 2N 2N 2N 2N T T T T T D D D D D D %D %D %D %D I I I I I . . . . . A A A A A
549
PER ) ) ) )TECHNICAL
ANALYSIS
1
)
L
L
L
L
L T T T
T
662 1422 956 2415 52.60 102 824 76.60 141 47.80 97.65
1233
D
NSE FUTURE : BUY WOCKPHARMA FUTURE ABOVE 994 TGT 1066 SL 964
NSE FUTURE : BUY ASIANPAINT FUTURE ABOVE 901 TGT 929 SL 885
NSE FUTURE : BUY SYNDICATEBANK FUTURE ABOVE 60.70 TGT 62.70 SL 59.90
NSE FUTURE : BUY LICHSGFIN FUTURE ABOVE 469 TGT 489 SL 462
-6.97 % -5.86 % -5.04 % -4.30 % -3.77 % -3.75 % -3.70 % -3.53 % -3.53 % -2.58 % -2.35 % -2.35 %
568
T D D D D
NSE FUTURE : BUY TATAMOTORS FUTURE ABOVE 354 TGT 368 SL 349
-56.74 %
-1.03 % -0.78 %
1 5- 2 5- 3 5- 4I 5- 5 I 5 P546P546P546P546P54 C89. C89. C89. C89. C89 A9 9A9 9A9 9A9 9A9 A11- A11- A11- A11- A11 7 7 7 7 P445P445P445P445P44 L L L L L O92. O92. O92. O92. O92 A %A %A %A %A L720L720L720L720L72 U B22- U B22- U B22- U B22- U B22 L 4L 4L 4L 4L N O543N O543N O543N O543N O54 O O O O O IR01. IR01. IR01. IR01. IR01 % % % % TA957TA957TA957TA957TA95 IH11- IH11- IH11- IH11- IH11 ET 7ET 7ET 7ET 7ET D O003D O003D O003D O003D O00 D D O O D O D O D O SE62. SE62. SE62. SE62. SE62 R % R % R % R % R A 7 A 7 A 7 A 7 P77- D P P77- D P A P77 D SI SI 77- D S S77- D S 0II 0II 0II IC960 I P P P P P EC 3C EC963C EC963C EC963C E96 TB. . . TB. . . TB. . . TB. . . C T. . I I I I B I EA %EA %EA %EA %EA 465R465R465R465R46 R IL44- IL44- IL44- IL44- IL44 B 03B 03B 03B 03B 0 ID0 I0 I0 I0 I0 LS872D LS872D LS872D LS872D LS87 A A A A A FTU. . . FTU. . . FTU. . . FTU. . . FTU. . N N N N N SC98% SC98% SC98% SC98% SC98 LP553 L553 L553 L553 L55 K -P K -P K -P K -P K 5 0 5 5 0 5 5 0 5 5 0 5 0 A761IA761IA761IA5 IA 7 6 1 I LB LB LB LB LB76 R R R R R IT48. IT48. IT48. IT48. IT48 A %A %A %A %A N 0N 0N 0N 0N D N D N D N D N D N D 3D 3D 3D 3D K K K K K U U U U U S %S %S %S %S R R R R R T T T T T R R R R R I I I I I E E E E E S S S S S
NSE CASH
NSE CASH : BUY GODFRYPHLP NSE CASH ABOVE 1222 TGT 1252 SL 1185.
NSE CASH : BUY RUSHIL NSE CASH ABOVE 260 TGT 285 SL 252.
NSE CASH : BUY QUICKHEAL NSE CASH ABOVE 255 TGT 278 SL 247.
NSE CASH : BUY NIITECH NSE CASH ABVE 475 TGT 518 SL 265.
NSE CASH : BUY JUSTDIAL ABOVE 675 TGT 735 SL 654
NSE - WEEKLY NEWS LETTERS � TOP NEWS OF THE WEEK Public sector banks wrote off over Rs 1.14 lakh crore in last 3 fiscals: Arun Jaitley FM Arun Jaitley reportedly said that State-owned banks wrote off over Rs 1.14 lakh crore debt during the last three financial years."The public sector banks have written off Rs 1,14,181 crore of debt during financial years 2013, 2014 and 2015." Jaitley stated that in case of technical write-off, the recovery efforts continue as accounts remain the books of branches. ASSOCHAM urges PM to nudge CPSEs to spend Rs 5 lakh crore to revive growth Lauding the public sector enterprises to be ready with a large investment kitty of Rs 5.02 lakh crore for the next financial year, ASSOCHAM today urged Prime Minister Mr Narendra Modi to convene a meeting of the CMDs of the CPSEs asking them to ensure that the entire planned expenditure for the fiscal 2016-17 is spent to give a leg-up to the economic growth.
Fitch Ratings lowers India's FY 2017 growth forecast to 7.7% - Fitch Ratings lowered India's economic growth forecast for next fiscal to 7.7%, but maintained the GDP projection for current fiscal at 7.5%. Fitch Ratings has made widespread downward revisions to growth forecasts in its latest Global Economic Outlook. India's Forex Reserves dips $3.58 bn to $346.79 bn - The country’s forex reserves decresed by $3.58 billion from a week ago to $346.79 billion in the week ended February 26, according to RBI data. As per RBI data, the foreign currency assets stood at $325.02 bn on February 26. Gold reserves remained unchanged at $17.70 bn in the week. Meanwhile, the Special Drawing Rights and the country's reserve position in the IMF stood at US$ 1.47 billion and US$ 2.58 billion.
PSU banks NPAs increased by Rs. 1 lakh crore: Arun Jaitley - The bad loans of public sector banks increased by nearly Rs. 1 lakh crore during the first nine months of the current fiscal, Finance Minister Arun Jaitley reportedly said. Jaitley said that the gross NPAs of the PSBs increased from 5.43% as on March 2015 to 7.30 per cent as on December 2015. Gross NPAs of PSBs surged from Rs. 2,67,065 lakh crore in March 2015 to Rs. 3,61,731 lakh crore in December 2015, he said.
FDI equity commitments under Make in India at $46 bn: Jayant Sinha - Foreign investors have committed $ 45.68 billion worth of equity capital inflows under the government's ambitious Make In India programme till December 2015, Parliament was informed today. Giving details of "FDI equity inflow received after Make In India initiatives for the period October, 2014 to December, 2015. Minister of State for Finance Jayant Sinha said in a written reply in Lok Sabha that $29.44 billion came in during April-December period of 2015-16.
Economic growth improving in India: FM Arun Jaitley - The economic growth rate is expected to increase to 7.6 per cent in 2015-16, Finance Minister Arun Jaitley said today. The growth rate increased from 6.6 per cent in 2013-14 per cent to 7.2 per cent in 201415. It is estimated to have further increased to 7.6 per cent in 2015-16 , indicating that economic growth has been improving in India," he said in a written reply to the Rajya Sabha.
Global headwinds no sign of a recession, says Moody's - The prolonged decline in oil prices and weaker expansion in Chinese economy have dimmed growth prospects of several economies, but it does not signal a threat of global recession, Moody's Investors said."Risks to global growth have increased, but despite the recent market volatility, we don't believe that the world's advanced economies will enter recession," said Moody's Senior Vice-President Elena.
IIP growth was at 3.3% during Jan-Dec 2015 - Index of Industrial Production prepared by Central Statistics Office, Ministry of Statistics and Programme Implementation at 2004-05 base year measures performance of industrial production in the country. The growth of IIP in 2015 was 3.3 per cent compared to 1.8 percent in the same period of 2014.
IMF emphasizes on collective action for guarding global economy - The global economy’s health is growing worrisome amid volatile financial markets and low commodity prices and is in dire need of collective action for getting buoyed, as per David Lipton, first deputy managing director of the International Monetary Fund. Since the time the international lender lowered its 2016 growth forecast to 3.4 percent in January, perils to the world economy have got intensified, he said. The economist said the world economy is in the midst of risks, including some new ones and the are not really far-off, which is a point that must be focused on. Global economic growth is rebounding albeit with a base line, not so robust.
Emerging Economies drive global trade: World Bank - After dramatically declining in the first half of 2015, global trade recovered but at a slower pace over the rest of the year, so that world imports grew by only 1.7 percent in 2015 compared to 3 percent in 2014. According to a new World Bank Group paper, Global Trade Watch: Trade Development in 2015, by World Bank Group Economists Cristina Constantinescu, Aaditya Mattoo and Michele Ruta, global trade in 2015 reflected persistently weak demand and structural changes in world trade, compounded by falling commodity prices and China’s transition to a new growth path.
Moody's: Impact of low oil prices on global corporate sectors shifts - The benefits of this prolonged period of very low oil prices are diminishing for some corporate finance sectors or even starting to have a negative impact on others, said Moody's Investors Service.The exploration & production, oilfield services, building materials and steel industries continue to bear the immediate effects of low oil prices. The global oversupply, combined with additional exports coming from Iran and OPEC countries producing at capacity, has led to a fundamental shift in the energy industries. Moody's price estimates for oil reflect this shift and is in the process of concluding ratings reviews of issuers in these industries owing to the deterioration in credit conditions linked to persistently low oil prices.
ECB pulls out all the stops, cuts rates and expands QE - The European Central Bank delivered a surprise package of measures to kickstart Europe's economy on Thursday, cutting its main interest rates and expanding its massive bond-buying program. The bank's president, Mario Draghi, said the outlook for economic growth in the euro zone had been revised slightly down mainly reflecting the weakened outlook for the world economy but added that he did not anticipate needing to reduce rates further.
Govt hopeful of passing GST Bill in budget session: Jaitley - Finance Minister Arun Jaitley on Sunday said that the Government was hopeful of passing the Goods & Services Tax bill in the second half of the budget session, which will resume on April 20. The GST bill, which has received the approval of the Lok Sabha, is stuck in the Rajya Sabha.The Government has already said that it is ready with the required infrastructure for the roll out of GST.
� TOP ECONOMY NEWS
The Foreign Investment Promotion Board cleared 16 FDI proposals worth Rs 14,000 crore. FIPB approved Yes Bank's Foreign Investment Proposal worth Rs.6,500 crore. According to reports, the FIPB has approved 16 FDI proposals, out of 34.
The Rs. 840 billion general insurance industry feels that the 'use and file' norms unveiled recently by IRDAI will ensure faster growth in the industry, though the regulations may lead to price rise of such products. The new norms, coming into force from April 1, will allow marketing of corporate products even before the regulatory approval.
Bullion and jewellery traders in Uttar Pradesh, on strike since March 2 against the Budget proposal to re-impose 1 per cent excise duty on jewellery, have decided to extend the stir indefinitely.
Gems and Jewellery exports declined by 14.5 per cent to USD 25.95 billion during the first ten months of the current fiscal due to slowdown in global demand.
1,400 MW capacity plant being built in Gorakhpur for Rs 210 billion will come up within the next six years, minister of state for atomic energy and space Jitendra Singh has said.
The Cabinet is likely to consider mines ministry's proposal to allow auction of 100 mineral blocks for exploration as early as this week as the government tries to revive exploration activity in the country.
At the two day bankers retreat held in New Delhi, the bankers have suggested to the Reserve Bank of India that big data should be used for fraud detection and easier and quicker sharing of information amongst different lenders to curtail the problem of bad loans in the system.
The Ministry of Environment, Forests and Climate Change has announced an Online Effluent and Emission Monitoring System under which highly polluting industries will be monitored 24x7.
Finance Minister Arun Jaitley called upon states to reform to attract investment, according to reports.“In addition to co-operative federalism, India has also become a competitive federalism,� Jaitley said. Strong protests against the Budget proposal to tax 60 per cent of the EPF corpus on withdrawal have led to the move being rolled back.
In a bid to protect domestic manufacturers, India imposed anti-dumping duty on polypropylene imports from Singapore.
The Oil Ministry has ordered charging of the market determined price for natural gas used by fertiliser plants for manufacturing non-urea crop nutrients.
Steel Ministry has brought down the import of steel, an issue that has eroded profitability of the domestic producers, by almost one-fourth in the first eleven months of this fiscal.
Gems and Jewellery Export Promotion Council stated that the imposition of 1% excise duty on jewellery by the Government of India in Union Budget 2016-17 is not in the interest of the industry. GJEPC Chairman has already approached the Government to initiate meetings with the Finance Minister and Officials of the Finance Ministry and also the Commerce Minister & Commerce Ministry to persuade them to rollback their decision of imposition of excise duty on jewellery.
The government will shortly launch the Automotive Mission Plan 2016-26, which aims to put the automobile industry in the league of top three nations in engineering, manufacturing and export of vehicles, and auto components.
The telecom regulator has given mobile phone companies an extra week to March 14 for submitting their compliance report on compensating consumers for call drops with the Supreme Court slated to take a final view on the matter on March 10.
Following a tardy progress in the most ambitious Gold Monetisation Scheme since its launch on November 5 last year by Prime Minister Narendra Modi, Finance Ministry has called another meeting of all stakeholders on March 18 to discuss why the scheme is not gaining momentum.
The Rajya Sabha has passed a bill to regulate the real estate sector, aiming to protect home buyers from erring developers besides bringing transparency in the sector.
The government approved pricing freedom to help monetise Rs 1.8 trillion of gas discoveries, brought in a more liberal fiscal regime for oil and gas exploration and decided to amend the mining laws to allow companies to more freely sell assets.
The Cabinet approved a Rs 80 billion scheme to provide cooking gas connections free of cost to women members of poor households.
� TOP CORPORATE NEWS Tata Motors Ltd. has signed an agreement with Pune-based Bharat Forge and General Dynamics Land Systems of the US, for the ministry of defence's Future Infantry Combat Vehicle programme.
Bajaj Auto Ltd. is looking to sell around 50,000 units of 150CC 'V' bikes in the country and will decide on extending the brand to other segments after 12-18 months, Bajaj VP Marketing Sumeet Narang said.
Apollo Tyres has forayed into the two-wheeler tyre segment in India with the launch of Apollo Acti series for motorcycles and scooters.
Mahindra & Mahindra Executive Director Pawan Goenka told Reuters the company was in talks with Chinese firms to enter into a contract manufacturing agreement or form a joint venture to build Ssangyong vehicles in China, where it currently exports to from Korea and sells through a local distributor.
NTPC and the Indian Institute of Technology, Delhi, have signed a memorandum of understanding for research and development in areas of mutual interest such as simulation and modelling, heat transfer and thermal process, artificial intelligence, solar and renewable integration, and other such areas.
HPCL plans to invest Rs 450 billion by 2020 in expansion of its Mumbai and Visakhapatnam refineries as well as augmenting its marketing infrastructure. While Rs 210 billion would be invested in refining capacity expansion, Rs 90 billion would be spent in marketing infrastructure till 2020. A total of Rs 140 billion would go into joint venture refinery projects, natural gas business and upstream oil exploration.
Indiabulls Housing Finance and its group company, Indiabulls Real Estate will invest Rs 250 billion in Haryana over the next seven years. The group has entered into a Memorandum of Understanding with the government of Haryana for the same, the company said in a statement.
Alkem Labs Ltd said one of its manufacturing plants in Gujarat has obtained the Establishment Inspection Report "approval" from US health regulator USFDA.
Bharti Airtel has launched a plan that will allow corporate customers use pre-paid data on their respective post-paid plans. The scheme will primarily benefit those customers who are unable to access mobile internet on their corporate connections because their company policy does not allow subscribing those plans having data packs.
As many as 22 mining projects of state-owned Coal India Ltd. have received green clearance this fiscal. “So far, in the current fiscal, 16 coal mining projects of Coal India having an additional capacity of 48 million tonnes have received environment clearance," an official said.
Tata Motors Ltd. said in a statement that the company has yet again reached out to the striking workmen and advised them to resume duty on or before March 11, 2016, failing which, the company would take appropriate legal action.
Maruti Suzuki India launched its new compact SUV 'Vitara Brezza' at an introductory price range of Rs 0.7 million and Rs 1 million.
Mahindra & Mahindra Chairman & MD Anand Mahindra has been conferred with 'Chevalier de la Legion d 'Honneur' by the French authorities.
The government will sell 5% stake in Container Corporations of India at a minimum price of Rs 1,195 a piece, to garner Rs 1,165 crore.
L&T Technology Services, a wholly-owned subsidiary of construction major L&T, is putting final touches to its proposed IPO, reports a financial newspaper. The IPO is slated to hit the market later this year, says the paper.
Sun Pharmaceuticals has named Indian cricket team captain M S Dhoni as brand ambassador of its health supplement brand Revital H. Earlier, actor Salman Khan was its brand ambassador for Revital H.
The APAC region of Zee Entertainment Enterprises Ltd announced the launch of ‘ATL Media APAC, a new division that will represent varied Indian and South Asian media businesses in the region for advertising sales.
Hindustan Unilever Limited announced it has signed a full and final compensation settlement with former workers of its now-silent thermometer factory in Kodaikanal in Tamil Nadu, which was shut after evidence of mercury pollution.
Lupin Ltd. said it has completed the acquisition of privately held US-based GAVIS Pharmaceuticals LLC and Novel Laboratories.
Unichem Laboratories has received approval from the US health regulator USFDA for its generic Quetiapine Fumarate tablets used for treatment of schizophrenia and bipolar disorder.
Jindal Steel & Power Ltd will try to sell stakes in few steel units, set up JVs with companies in Asia and Europe, and seek a buyer for its power assets in India in a bid to pare debt, CEO Ravi Uppal has been quoted as saying.
Hero-MotoCorp plans to enter new markets globally, including Mexico and Nigeria, as it eyes 10mn unit sales by 2017-18.
Godrej Properties expects a sales revenue of about Rs. 7 billion from the second phase of its luxury housing project at Vikhroli in Mumbai.
� TOP BANKING AND FINANCIAL NEWS OF THE WEEK State Bank of India is among four new foreign banks given preliminary approval to open 100 per cent-owned branches in Myanmar.
The government is expected to launch the public sector bank consolidation exercise by merging yet another State Bank associate with its parent even as it looks to create eight to ten large state-run lenders through a merger of nationalized banks.
Global financial services firm Nomura has said that India's third largest private sector lender Axis Bank is better placed than private sector behemoth ICICI Bank and other
PSU bank peers in terms of corporate book profitability.
State Bank of India on Thursday rejected allegations that it moved slow in seeking Vijay Mallya's detention, saying it had moved the debt recovery tribunal on February 26, the day Diageo reportedly paid $75 million to Mallya.
Private lender Yes Bank on Tuesday launched an all-women operated bank branch 'Yes Grace' on Cunningham Road here aimed at offering customised banking solutions to women.
Banks have so far disbursed over Rs 1.15 lakh crore under Pradhan Mantri MUDRA Yojana , Financial Services Secretary Anjuly Chib Duggal said.
The Reserve Bank of India has notified that the aggregate FII shareholding in Kotak Mahindra Bank Ltd. has gone below the prescribed limit. Hence the restrictions placed on the purchase of shares of the above bank have been withdrawn.
Axis Bank, country's third largest private sector lender, is looking at taking a leaf from the burgeoning start-ups and realigning the bank's work environment and culture in a manner similar to the way these organisations function. This will include flexible roles and flexible work environment for its employees.
Former IDBI Bank CMD Yogesh Aggarwal is under scrutiny of the CBI and the Enforcement Directorate for allegedly disbursing at least Rs 350 crore to former liquor baron Vijay Mallya even before the loan was sanctioned by the bank. The agencies have alleged the loan was disbursed merely on the basis of Aggarwal's conversation with Mallya.
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