Equity research report 17 august 2015 ways2capital

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 8545/ 18798. According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 8476 will be small support for Nifty futures and 18422 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 8312 level and Bank Nifty futures can touch 17918 level in next few days. It will be hard support for Nifty futures and Bank Nifty futures. Meanwhile in up trend there is small resistance on 8628 for Nifty futures and 19227 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8819 and 20003 for Bank Nifty futures.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY

R2 8953

R1 8651

PP 8500

S1 8349

S2 8047

WEEKLY

R2 9391

R1 8807

PP 8515

S1 8223

S2 7639

MONTHLY

R2 9409

R1 8827

PP 8533

S1 8241

S2 7657

DAILY

R2 20434

R1 19222

PP 18616

S1 18010

S2 16798

WEEKLY

R2 21955

R1 19763

PP 18667

S1 17571

S2 15380

MONTHLY

R2 22017

R1 19897

PP 18703

S1 17498

S2 15115

BANK NIFTY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

8522

8387

8402

8473

BANK NIFTY

18176

18410

18344

18550

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

8632

8160

9007

BANK NIFTY

19135

17780

20780

NSE EQUITY DAILY LEVELS COMPANY NAME

R3

R2

R1

PP

S1

S2

S3

ACC ALBK

EQ EQ

1449 101

1435 98

1421 96

1414 94

1406 93

1399 92

1392 90

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

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

238 974 603 2664 198 185 296 433 761 457 136 4384 361 4002 979 1358 1119 2762 115 927 322 331 1002 1159 85 736 1915 1569 47353 4559 299 208 77 408 1036 458 47 301 136 874 423 73 273 230

235 953 596 2629 194 180 291 426 747 447 132 4339 355 4063 964 1340 1110 2726 113 920 318 328 985 1136 83 726 1887 1516 46589 4520 291 198 76 400 1019 446 46 295 134 867 411 72 269 224

232 931 588 2594 190 176 286 419 734 437 127 4294 349 3924 952 1322 1101 2689 111 912 314 326 967 1114 80 716 1859 1464 45825 4482 282 189 75 393 1002 433 45 290 131 860 400 71 265 218

231 918 584 2571 187 173 283 415 725 430 125 4269 345 3886 946 1311 1095 2673 109 909 312 324 957 1104 79 710 1847 1435 45387 4459 279 184 74 388 994 427 44 286 130 856 395 70 263 214

229 910 581 2559 186 172 281 412 720 427 122 4249 343 3785 940 1303 1092 2653 108 905 310 323 949 1091 78 706 1832 1412 45061 444 274 180 73 385 986 420 43 284 129 853 389 69 261 212

228 896 577 2536 183 169 278 408 712 420 120 4224 339 3727 934 1292 1087 2636 107 902 308 322 940 1082 77 700 1820 1383 44623 4421 270265 174 72 380 978 414 42 281 128 849 384 68 259 208

227 889 573 2524 181 167 276 406 706 417 118 4204 337 3646 926 1285 1083 2616 105 897 306 320 932 1069 75 696 1804 1360 44297 44056

SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK

170 71 377 969 408 41 279 127 846 377 67 257 206

TOP 15 ACHIEVERS

SR.NO

SCRIPT NAME

//

PREV CLOSE

CMP

% CHANGE

TOP 15 LOOSERS

SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

-21.58

1

TVS ELECTRONICS

70.15

113.55

+61.87

1

AMTEK AUTO LTD

166.15

130.30

2

CHENNAI PETRO

179.20

240.25

+34.07

2

POLYPLEX CORPN

298.45

234.10

3

JUBILANT INDIST

169.90

201.15

+18.39

3

PUNJAB CHEM

266.70

212.45

-20.34

4

ARTI INDUS LTD

280.40

430.40

+13.23

4

VEDANTA

129.30

106.50

-17.63

5

BARDHAMAN TEXTI.

827.45

917.55

+10.89

5

HINDALCO INDUS

109.55

91.85

-16.16

6

DLF LTD

122.10

135.25

6

DCM LTD

119.65

100.50

7

GLENMARK PHARMA

1032

1134.35

+9.92

7

SHAKTI PUMPS

177.20

151.50

-14.50

8

DIVIS LAB

2182.95

+9.32

8

RCOM

73.30

62.75

-14.39

9

WOCHARDT LTD

1568.70

1710.10

+9.01

9

JAIN IRRIGATION

75.60

64.75

-14.35

10

ADANI PORTS

339.85

396.75

10

COZ & KINGS LTD

301.15

258.30

-14.23

11

LUPIN LTD

1680.40

1793.45

11

MMTC LTD

50.10

45.10

-9.98

12

SUN PHARAM

841.90

897.70

12

COAL INDIA LTD

414.70

375.60

-9.43

13

TCS

2547.15

2703.20

13

382.55

348.45

-8.91

14

TORRENT POWER

167.75

178.00

14

RELIACNE CAPITAL UNITECH LTD

7.80

7.15

-8.33

15

INFOSYS

1086.35

1149.25

15

INDIAN OIL CORP

426.40

392

-8.07

1996.80

+10.77

+7.03 +6.73 +6.63 +6.13 +6.11 +5.79

-21.56

-16.01

1.

GAIL - GAIL RECOVERD FROM THE LEVEL OF 327 AND MADE HIGH OF 338 . THIS WEEK IF IT CLOSES ABOVE 338 LEVEL THEN 345/348 LEVELS ARE POSSIBLE.

2.

ZEEL - ZEEL CAN SHOW UPWARD MOMENTUM IF IT TREADES ABOVE 420 LEVEL AND 428/433 LEVEL ARE POSSIBLE.

3.

ALBK - IF ALBK BREAKS 92 LEVEL THEN IT CAN COME UPTO THE LEVEL OF 95 THIS WEEK.

4.

CROMPGREAVE - IF CROMPGREAV TREADES ABOVE 186 THEN IT MAY COME UPTO 190/194 LEVEL THIS WEEK.

5.

TATASTEEL - IF TATASTEEL BREAKS 235 LEVEL AND CLOSES BELOW THIS LEVEL THEN DOWN MOMENTUM WILL CONTINE AND 228/225 LEVEL ARE POSSIBLE.

CURRENCY MARKET USDINR

R2

R1

PP

S1

S2

DAILY

66.40

65.65

65.25

64.85

64.05

WEEKLY

R2 69.50

R1 66.40

PP 64.85

S1 63.30

S2 62.20

MONTHLY

R2 69.60

R1 66.45

PP 64.85

S1 63.25

S2 62.15

EURINR

R2

R1

PP

S1

S2

DAILY

73.70

73.05

72.75

72.45

71.85

WEEKLY

R2 80.75

R1 74.85

PP 71.95

S1 69.10

S2 63.15

MONTHLY

R2 82.20

R1 75.25

PP 71.75

S1 68.30

S2 61.30

JPYINR

R2

R1

PP

S1

S2

DAILY

53.70

52.90

52.45

52.05

51.25

WEEKLY

R2 56.15

R1 53.50

PP 52.15

S1 50.80

S2 48.15

MONTHLY

R2 56.35

R1 53.60

PP 52.15

S1 50.70

S2 47.95

GBPINR

R2

R1

PP

S1

S2

DAILY

103.50

102.40

101.90

101.35

100.25

WEEKLY

R2 110.85

R1 104.25

PP 100.95

S1 97.65

S2 91.05

MONTHLY

R2 111.80

R1 104.65

PP 101.05

S1 97.40

S2 90.35

NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ HDIL declines 1.5% despite Q1 net profit - Housing Development & Infrastructure declined 1.5 percent to Rs. 87.10 after the company reported consolidated net profit of Rs. 59.24 crore in Q1FY16, as against Rs. 57.58 crore in a year ago period. The stock of the company closed at Rs. 87.05. The stock closed down 1.42% from its previous close which was at Rs. 88.30. It hit a high at Rs. 90.60 and low at Rs. 86.40. The total traded quantity was 19.63 lakh and two-week average quantity is 26.80 lakh..

✍ Sun TV Network slumps; Madras HC cancels Dayanidhi Maran's interim bail - Sun TV Network slumped to a low of Rs. 319 following news report that the Madras High Court cancelled former Union telecom minister Dayanidhi Maran's interim anticipatory bail in the controversial telephone exchange case and directed him to surrender before the Central Bureau of Investigation within three days. The stock recouped losses and ended a percent higher at Rs. 345.

✍ Engineers India crashes 7% on weak earnings - Engineers India tumbled 6.5 percent to Rs. 220 on the back of weak financial earnings for the first quarter ended June, 2015. The company's net profit declined by 29.4 percent to Rs. 56.80 crore in Q1FY16 from Rs. 80.40 crore in Q1FY15. The stock of the company closed at Rs. 220.35. The stock closed down 6.51% from its previous close which was at Rs. 235.70. It hit a high at Rs. 231.10 and low at Rs. 217.20. The total traded quantity was 1.73 lakh and low at Rs. 1.17 lakh.

✍ Tata Motors slips on plans to set-up new JLR plant - Tata Motors has slipped deeper into red in mid-noon deals amid reports that the company's European firm, Jaguar Land Rover (JLR) plans to invest up to 1 billion euros to set-up a new plant. According to media reports, the company has signed a letter of intent with the Slovakian government to build the factory in the western city of Nitra, its first European production plant outside of the United Kingdom.

JLR will invest around 1 billion euros in the new plant, which will have a capacity of 300,000 cars per year. The stock so far has touched a low of Rs. 372, and is now trading with a loss of 3.3 percent at Rs. 373. The counter has seen trades of around 1.6 million shares as against the two-week daily average volume of around 1.1 million shares on the BSE.

✍ DHFL to acquires 50% stake in Pramerica Asset Managers - Dewan Housing Finance Corporation Ltd has now informed BSE that the Company has on August 11, 2015, acquired 50% equity stake in Pramerica Asset Managers Private Limited , the asset management company of Pramerica Mutual Fund; and Pramerica Trustees Private Limited, the trustee for the Pramerica Mutual Fund, from PGLH of Delaware Inc. Accordingly, PAMC and PTC have become joint venture entities of Prudential and DHFL. At 1:26 PM, the stock of the company is

trading at Rs. 515. The stock is trading down 1% from its previous close which was at Rs. 521.

It hit a high at Rs. 527 and low at Rs. 512. The total traded quantity is 57,000 and two-week average quantity is 1.79 lakh.

✍ SBI Q1 Net Profit up 10.24% to Rs.3,692 cr - SBI has announced the following results for the quarter ended June 30, 2015 The bank’s consolidated net profit increased by 5.96% to Rs. 47136 crore in Q1FY16 from Rs. 44,482 crore in Q1FY15. The group’s total Income has increased by 3.80% to Rs. 6,29,275 crore for the quarter ended June 30,2015 from Rs. 6,06,209 crore for the similar quarter of the previous year. Standalone net profit of SBI rose 10.2 per cent to Rs 3692.43 crore in the first quarter of the ongoing financial year against Rs 3349.08 crore in the corresponding quarter last year.

✍ Wockhardt advances on robust jump in Q1 consolidated net - Wockhardt advanced nearly 2 percent to touch a high of Rs. 1,683 on the back of near six-fold jump in Q1 consolidated net on a year-on-year basis. The pharma major's Q1FY16 consolidated net soared to Rs. 114.20 crore when compared with Rs. 19.95 crore in Q1FY15. Total income was up 17.3 percent at Rs. 1,179 crore from Rs. 1,005 crore. The stock is now up over a percent at Rs. 1,671. The counter has seen trades of around 74,000 shares as against the two-week daily average volume of around 193,000 shares on the BSE.

✍ Piramal Enterprises plans to hive off its critical care business - Piramal Enterprises is reportedly considering selling its highly profitable critical care business, which offers the full-spectrum of inhalation anesthesia portfolio and has presence in over 100 countries. The critical care unit clocked revenue of Rs. 757 crore in FY15, and has grown at 18% over the last five years, according to reports. Critical care medicines are used in hospitals to treat seriously ill patients in intensive care units. Piramal's portfolio comprises inhalation anesthetics like halothane, isoflurane, haemaccel, desflurane and sevolflurane. Ajay Piramal-controlled Piramal has presence in 6,000 hospitals across the world, according to its July 2015 investor presentation, and its market share of the US$1.2bn global inhalation anesthesia market is at 12%.

✍ UCO Bank Q1 net pofit at Rs. 256.7 crore - UCO Bank has announced the Unaudited Standalone results for the quarter ended June 30, 2015: The Bank has posted a net profit of Rs. 256.7crore for the quarter ended June 30, 2015 as compared to Rs. 521.4 crore for the quarter ended June 30, 2014. Total Income has decreased from Rs. 5,395.2 crore for the quarter ended June 30, 2014 to Rs. 5,169.1 crore for the quarter ended June 30, 2015.

✍ Finolex Cables Q1 net profit zooms 39% to Rs.48 cr - Finolex Cables Ltd has announced the following Unaudited Standalone results for the quarter ended June 30, 2015 The Company

has posted a net profit of Rs. 48 crore for the quarter ended June 30, 2015 as compared to Rs. 34.6 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 579.5 crore for the quarter ended June 30, 2014 to Rs. 596.8 crore for the quarter ended June 30, 2015.

✍ Tube Investments Q1 net profit up 6%, stands at Rs. 949.50 million - Tube Investments of India Ltd has announced the following results for the quarter ended June 30, 2015. The Group has posted a net profit of Rs. 949.50 million for the quarter ended June 30, 2015 as compared to Rs. 895.20 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 23,815.10 million for the quarter ended June 30, 2014 to Rs. 25,538.40 million for the quarter ended June 30, 2015.

✍ Tata Power Q1 cons profit at Rs. 241 crore - Tata Power has posted a net profit after tax has declined by 5.28% at Rs. 2424.20 million for the quarter ended June 30, 2015 as compared to Rs. 2559.60 million for the quarter ended June 30, 2014. Total Income has decreased by 3.08% at Rs. 24064.20 million for the quarter ended June 30, 2015, against Rs. 24831.30 million for the corresponding quarter of the previous year. On a consolidated basis, the Group has posted a net profit at Rs. 2413.30 million for the quarter ended June 30, 2015 as compared to net loss of Rs. 1113.00 million for the corresponding quarter of the previous year. The group's total income has risen by 7.89% to Rs. 93400.10 million from Rs. 86568.20 million for the similar quarter of the previous year.

✍ Lincoln Pharma jumps on launching a Cough Syrup - Lincoln Pharmaceuticals has rallied 6 percent to hit a high at Rs. 122 on the BSE after launching a Cough Syrup called NAMCOLD - DX. According to a release issued to the BSE, this is an extended release, a unique product of Novel Technology. The stock has now gained 3 percent at Rs. 119. The BSE counter has seen trades of around 311,000 shares, as against two-week daily average volume of 598,000 shares.

✍ Vedanta gets approvals to restart iron ore mining operations in Goa - Shares of Vedanta Ltd were trading flat at Rs. 129.80 on BSE today. The company has received the relevant consent, license and approvals in place to commence the iron-ore mining operations in the State of Goa for some of its leases. The Company is likely to recommence operations from August 10, 2015 at its biggest mine at Codli in Sanguem taluka in Goa. Further the company has been granted approval for total extraction of 5.5 million metric tons of which Codli is 3.1 million metric tons. Till date, five mining plans and schemes for Company’s mines have been cleared

by Indian Bureau of Mines and we are awaiting clearance of further 15 plans. Over the balance monsoon period we anticipate receiving these approvals and expect a full scale resumption post monsoon. The stock hit a high of Rs. 131 and a low of Rs. 129 on BSE today. Total traded quantity on the counter stood at over 3.61 lk shares on BSE.

✍ Jaiprakash Associates tumbles on dismal Q1 performance - Jaiprakash Associates slumped over 6.5 percent to a low of Rs. 11.12 in morning deals on the back of dismal Q1 performance. Jaiprakash Associates' Q1FY16 net loss widened to Rs. 464.99 crore from Rs. 80.61 crore in the corresponding quarter a year ago. Total income too declined over 20 percent to Rs. 2,405 crore from Rs. 3,042 crore. The stock continues to trade near the lows of the day at Rs. 11.24, down 5.7 percent. The counter has seen trades of around 2.07 million shares as against the two-week daily average volume of around 5.47 million shares.

✍ PC Jeweller Q1 net profit climbs 18.5% to Rs. 82.5 - PC Jeweller has announced the following results for the quarter ended June 30, 2015. The company recorded a rise of 18.5% in its net profit at Rs. 82.5 crore for the quarter under review as compared to Rs. 69.6 crore for the quarter ended June 30, 2014. The company's total income increased by 14.2% at Rs. 1,510.7 crore for the quarter under review from Rs. 1,323 crore for the corresponding quarter of the previous year. EBITDA, however, rose by 9% to Rs. 161 crore from Rs. 147 crore.

✍ Coal India slips 1.3% post Q1 results - Coal India is trading on a slippery note a day after the company announced its Q1 results. The company's Q1 consolidated net declined by 6.7 percent to Rs. 3,764 crore when compared with Rs. 4,033 crore in the corresponding quarter a year ago. Total income, however, rose by almost 5 percent to Rs. 20,965 crore from Rs. 19,980 crore. According to reports, the government will be offloading 10% equity stake in the company through a public offer, as a part of its divestment scheme. The stock had jumped to a high of Rs. 376, from where it tumbled to a low of Rs. 365 - down almost 3 percent in intra-day deals. The stock is now down 1.2 percent at Rs. 367. The counter has seen trades of around 142,000 shares as against the two-week daily average volume of around 449,000 shares on the BSE.

✍ Aurobindo Pharma Q1 net profit climbs 4.1% at Rs. 432 crore - Aurobindo Pharma has announced the following results for the quarter ended June 30, 2015. The pharma company recorded a rise of 4.1% in its net profit at Rs. 432 crore for the quarter ended June 30, 2015 where as the same was at Rs. 415 crore for the quarter ended June 30, 2014.The company's total income increased is Rs. 3,349.5 crore for the quarter ended June 30, 2015 where as the same was at Rs. 2,921.9 crore for the quarter ended June 30, 2014. During the previous year, on December 4, 2014, Company's USA subsidiary Aurobindo Pharma USA Inc. has acquired Natrol LLC, USA. The above Consolidated results for the quarter ended June 30, 2015 and for the quarter ended and year ended March 31, 2015 Includes financial results of operations of Natrol LLC, USA from December 4, 2014. The corresponding figures of the quarter ended June 30, 2014 are not comparable. Commenting on the Company’s performance,N. Govindarajan, Managing Director of the company said, “We are pleased to initiate the year with broad based growth across most business verticals. We continue on our efforts towards higher degree of differentiation including specialty generics and active pharmaceutical”

✍ IDBI Bank reports 27% rise in Q1 net profit - IDBI Bank has reported results for the quarter ended June 30, 2015. The bank’s net profit for the rose by 27.32% at Rs. 1351.80 million as compared to Rs. 1061.70 million for the quarter ended June 30, 2014. The company’s total Income has increased by 9.27% at Rs. 79033.70 million for the quarter under review from Rs. 72327.30 million for the quarter ended June 30, 2014. The bank’s scrip is currently trading at Rs. 62.85, down by 2.15 points or 3.31 % from its previous closing of Rs. 65.00 on the BSE. The scrip opened at Rs. 65.00 and has touched a high and low of Rs. 65.50 and Rs. 62.40 respectively. So far 382119 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 84.80 on 17-Apr-2015 and a 52 week low of Rs. 58.50 on 28-Jul-2015. Last one week high and low of the scrip stood at Rs. 69.40 and Rs. 64.60 respectively. The current market cap of the company is Rs. 10137.01 crore.

✍ Wockhardt Q1 net profit at Rs. 114.2 crore - Wockhardt Ltd has posted a net profit after taxes, minority interest & share of profit of associates of Rs. 1,142 mn for the quarter ended June 30, 2015 as compared to Rs. 199.50 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 10,051.80 million for the quarter ended June 30, 2014 to Rs. 11,794.10 mn for the quarter ended June 30, 2015.

✍ Titagarh Wagons Q1 net profit up 17.6% - Titagarh Wagons has announced the following results for the quarter ended June 30, 2015. The company recorded a rise of 17.6% in its net profit at Rs. 4 crore as compared to Rs. 3.4 crore for the quarter ended June 30, 2014. The company's total income increased by 8% at Rs. 166.7 crore for the quarter under review from Rs. 154.4 crore for the quarter ended June 30, 2014.

✍ Apollo Tyres rallies after Q1 profit jumps 27.5% - Apollo Tyres rallied 2.2 percent to Rs. 187 after the company's Q1FY16 net profit jumped by 27.5 percent to Rs. 290.59 crore from Rs. 227.94 crore. The company's board has approved a proposal to raise up to Rs. 2,000 crore for meeting its capex requirements. Sales declined 7.41% to Rs 2124.14 crore in the quarter ended June 2015 as against Rs 2294.06 crore during the previous quarter ended June 2014. The stock has hit a high of Rs. 189.30 and low of Rs. 180.90. Around 6.81 lakh shares have been registered on the counter against two weeks average quantity of 6.98 lakh shares.

✍ ICICI Bank cuts interest rates on bulk deposits by up to 25 bps - ICICI Bank today reduced interest rates on bulk deposits by up to 25 bps, as per media reports. Yesterday, the bank has cut home loan rates for rural borrowers to 9.7%. At 1:04 PM, the stock of the company is trading at Rs. 294. The stock is trading down 2.6% from its previous close which was at Rs. 302. It hit a high at Rs. 301 and low at Rs. 293. The total traded quantity is 473,000 and two-week average quantity is 12.39 lakh.

Top Economy news Captive power producers have opposed the proposal of Coal Ministry to do away with coal linkages for such units. The Indian Captive Power Producers' Association feels this retrogade step will blunt the competitive edge of CPP based industries that have grounded huge investments in the last two decades.

Government has capped the subsidy payout on kerosene at Rs. 12 per litre and domestic cooking gas at Rs. 18 per kg, Oil Minister Dharmendra Pradhan said.

Suresh Prabhu launched new train services in the Northeast after the completion of North Lakhimpur - Murkongselek and Balipara- Bhalukpong sections into broad-gauge. Highlighting the ongoing capacity augmentation in the region, Prabhu further said 13 new lines, 3 Gauge Conversion and 4 Doubling projects with balance fund requirement of Rs370bn have been taken up in Northeast. These projects on completion will augment network by 1915 km.

Government has invested Rs. 4.85tn in big infrastructure projects, costing over Rs. 1.50 bn, as of June 1 in the current fiscal.

The government will impose an import duty of 10% on wheat effective until March 31 next year, Finance Minister Arun Jaitley told Parliament, reinstating tariffs after a gap of eight years following big purchases in recent months.

The government is examining a request to double the import duty on aluminium to 10%, the country's trade minister said.

Index of Industrial Production for the month of June rose to 3.8% versus 2.7% month-on-month. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of June 2015 stand at 121.7, 188.4 and 184.0 respectively, with the corresponding growth rates of -0.3%, 4.6% and 1.3% as compared to June 2014.

The annual consumer price inflation slowed down to 3.78% in July, its lowest level on record, according to government data.

In the wake of steep decline in Yuan, Indian engineering exports will further lose competitiveness against the Chinese goods, Engineering Exports Promotion Council Chairman said in a statement.

A day after the devaluation of the Chinese currency, the Government has raised the import duty on selective steel products by 2.5%. This is the second increase within two months. Earlier, in June, the Government raised the import duty on selective steel items. The duty was raised after a continuous increase of cheap imports from China.

Andhra Pradesh Chief Minister N Chandrababu Naidu will unveil the 'Smart Village' project which will be undertaken in Krishna district.

Bolstering case for rate cut in September, Retail inflation as measured by the consumer price index slowed to 3.78% year-on-year in July compared to 5.40% in June and also way lower than street expectation of figure above 4.50%.

The IIP for the month of June 2015 stands at 178.5, which is 3.8% higher as compared to the level in the month of June 2014. The cumulative growth for the period April-June 2015-16 over the corresponding period of the previous year stands at 3.2%.

Government said it is committed to pursuing subsidy reforms by efficient targeting of subsidies to the poor and needy while saving the 'scarce financial resources' for infrastructure and development needs. Stating that it was essential to gradually reduce expenditure on subsidy through reforms to meet fiscal deficit targets, Finance Minister Arun Jaitey also said that the Seventh Pay Commission award "poses a risk".

Narendra Modi Government finally managed to table the Constitution Amendment Bill for the Goods & Services Tax in the Rajya Sabha. But, pandemonium in the House prevented it from being taken up.

The government has decided to boost ethanol production by making 10% blending with petrol mandatory from the next year starting October 2015 in its efforts to resolve the sugar imbroglio.

The government is working on a proposal to raise minimum wages of workers, a top Labour Ministry official said.

Indirect Tax Revenue collections have increased from Rs 40,802 crore in July, 2014 to Rs. 56,739 crore during July, 2015. Thus an increase of 39.1% has been registered during July-2015 over the corresponding period in the previous year. This is an achievement of 32.6 % of the target fixed for BE 2015-16 i.e. Rs. 646267 crore.

Government proposes to infuse Rs 70,000 crore in public sector banks in four years from budgetary allocations, Finance Minister Arun Jaitley said.

Government moved for consideration of Rajya Sabha the Constitution amendment bill for introduction of GST but a debate on it was blocked by a vociferous Congress which raised procedural issues.

With good rainfall this monsoon season, Rajasthan is likely to have bumper kharif crop production as the sowing was done in 144 lakh hectare area so far as against a target of 157 lakh hectare in 2015, a statistical report of agriculture department said.

The four Gujarat state power distribution utilities have for a third year in a row emerged as top performers in the country.

Government has capped the subsidy payout on kerosene at Rs. 12 per litre and domestic cooking gas at Rs. 18 per kg, Oil Minister Dharmendra Pradhan said.

Top Corporate News Indian Oil Corporation Ltd is expecting its new liquefied natural gas receiving terminal at Ennore, Tamil Nadu in joint venture with Tamil Nadu Industrial Development Corporation to be ready by 2018.

Jet Airways announced special fares, offering its customers a flat 30% discount on base fares for all classes of travel--first, business and economy-- to celebrate the country's 69th Independence Day. Sadbhav Engineering said it has won bids for two NHAI projects worth Rs15.57bn. The company said it will develop sections of the six-lane Eastern Peripheral Expressway in Haryana and Uttar Pradesh.

Voltamp Transformers Ltd said that contract workers have withdrawn their protest and are back to work at the company’s Vadadala plant in Gujarat’s Vadodara district.

Vedanta said it has received necessary government approval and will resume operations from at its biggest iron ore mine at Codli in Sanguem taluka in Goa. Tata Motors’ JLR will launch the new Discovery Sport in India on September 2, 2015 and retailers are now accepting bookings for the premium SUV. Hindustan Petroleum Corporation Limited has launched eco-friendly Bio-Diesel Blended Diesel B5 HSD in New Delhi, Visakhapatnam and Hyderabad.

Bharti Airtel said it has reduced rates of its home broadband plans by up to 30% for all new activations as the company won't be charging any premium for higher speed.

GAIL India Ltd will hold stake in the four-nation company being set up to build the Turkmenistan-Afghanistan-Pakistan-India gas pipeline as global firms have so far shunned the

USD7.6bn project.

ICICI Bank said it would charge small ticket home loan at its base rate- which now stands at 9.70%. The bank said that under the new scheme - ICICI- Saral Rural Housing Loan- loans can be availed by rural women between Rs0.5mn and Rs1.5mn for which the bank will charge a floating rate home loan of 9.70%.

Tata Motors owned Jaguar Land Rover has signed a letter of intent with the government of the Slovak Republic for setting up a manufacturing plant in the city of Nitra in western Slovakia.

Indian Oil Corporation, is on the government agenda for disinvestment. With petrol and diesel prices now market linked and crude oil prices at historic lows, not only the company’s borrowings have come down by 35%, it is looking up to exceeding its capital expenditure.

The Great Eastern Shipping Company said it has signed a contract to sell a new Kamsarmax Dry Bulk Carrier "Jag Aakash".

Delays in getting necessary approvals for a new green field manufacturing plant in Gujarat will likely cost car market leader Maruti Suzuki the next year. Manufacturing capacity in Gurgaon and Manesar will be fully utilised next year, and the company needs new capacity.

Allied Blenders & Distillers is said to have cancelled its plan to acquire stake in Tilaknagar Industries.

Apollo Tyres plans to spend Rs12bn to increase the truck and bus radial tyre capacity at the Chennai plant from 8,900 tyres a day to 12,000 tyres a day. The company informed the stock exchanges that its board of directors, at a meeting, approved raising Rs20bn in debt to meet the capital expenditure requirements and proposed expansions at Chennai and Kalamassery (Kerala) plants.

IL&FS Transportation Networks said that its subsidiary has signed a concession agreement with the Jharkhand Government for the development of six-laning of Ranchi Ring Road at an estimated cost of Rs5.87bn.

Shree Uttam Steel and Power and South Korean steel giant Posco have signed an agreement to set up a three million tonne per annum integrated steel manufacturing company in Maharashtra, with an investment of USD3bn.

House of Spices, importer of Nestle products from India, said that the US Food and Drug Administration has given a clean chit to Maggi Noodles.

Lanco Infratech Ltd has declared the first unit of 371 MW of third phase of Lanco Kondapalli Power Ltd near Vijayawada as commercially ready for operation.

Power Grid Corporation is likely to soon raise another Rs30bn under its second round of fund raising plan through domestic bonds to meet working capital expenditure.

Operationalising of Codli mine in Goa may add Rs6.16bn to Vedanta’s topline in the current financial year. The Codli mine has an annual production cap of 3.1 MTPA, which is over 60% of the stipulated cap for Vedanta (5.5 million tonnes). Iron ore mining was re-started on this mine, which marked resumption of mineral excavation in Goa after three years. The mine has total estimated reserves of 70 million tonnes.

SAIL is planning to buy a 51% stake in Odisha government-run pig iron producer IDCOL Kalinga Iron Works (IKIWL). IKIWL is producing foundry grade pig iron with installed capacity of 0.18mn tonnes having four low shaft blast furnaces and is supplemented with the captive power plant of 16 MW capacity.

IndusInd Bank has raised Rs50.8bn by issuing 60mn new shares via QIP and preferential issuances. The raised capital will be used to support bank's growth and also augment total capital adequacy ratio.

The slowdown in the infrastructure sector had made Srei Infrastructure Finance to look for scaling up acquisition of infra projects, which have run into troubled waters but have potential for revival.

Adani Power has got shareholders' approval to raise up to Rs 100bn through issuance of shares, bonds or other securities, including for investments in various businesses.

Dr Reddy’s Laboratories Ltd has launched Pramipexole dihydrochloride extended-release tablets in the US market. The drug is a therapeutic equivalent generic version of Mirapex ER extended-release tablets. The Mirapex ER brand and generic had U.S. sales of approximately USD48.3mn for the most recent twelve months ending in June 2015 according to IMS Health.

Tata DoCoMo is scaling up its network across Kerala with additional 300+ towers as part of its 3G network expansion plan by covering all major towns and district headquarters, Tata Teleservices Ltd said. In addition to the current expansion plans, the company has also spruced up its distribution channel by adding 128 distributors and 17,000 retail touch points and 50 advanced branded retail stores.

Tata Steel will be taking a strategic decision regarding the UK long product division in the next four-five months.

Apollo Hospitals Group is restructuring its retail business by launching a new business unit under its wholly-owned subsidiary Apollo Health and Lifestyle Limited for secondary healthcare services. It is also planning to raise funds from investors, including private equity

firms, who will pick up stakes in AHLL to back its Rs2-3bn capex in next three years, according to senior officials from the Group.

Government will sell 10% stake in Coal India through a public offer, which could fetch about Rs234bn to the exchequer.

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