Equity research report 22 february 2016 ways2capital

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - The Market open positive note on monday after losing more than 6 percent in previous week. The Nifty climbed 97.65 points or 1.40 percent to 7078.After a tumultuous ride last week, the market gained strength with support from metals, auto, capital goods and oil & gas sectors mostly. Posting its biggest rally of gain in a month, Global markets are currently in an oversold territory due to concerns regarding commodity prices, muted emerging markets economic growth, and slowdown in China, The China central bank fixed the yuan sharply stronger, easing fears of depreciation, Oil briefly rallied in the overnight session after Saudi Arabia, Russia, and Venezuela lead an effort to freeze output at January levels, dashing hopes of a cut in production. Due to sluggish demand and concerns over the global economic outlook. However Chinese markets will remain volatile for next 3-4 months. It is a sea of red across Dalal Street from Tuesday as investors gear up for Union Budget .The crucial levels for Nifty is 6700 down side and 7200 is Up side the weekly Resistance for Nifty is 7269-7409 and the weekly Support is 7129-6989.

BANK NIFTY : - The Bank Nifty open in Positive trend on Monday trading session at 15206 up by 44 points or 0.6 per cent. The Bank Nifty is currently trading at 14425 up by 442 point or 3.17 per cent. Bank shares have remained a pain point for the stock market over the past one year – set by NPA issues and weak credit demand –State-run banks like SBI, Bank of Baroda, Central Bank of India, apprise PM Narendra Modi of rising bad loans, capital requirements of state-run banks and the impact of bad loans on their profitability were discussed. We are expecting the positive movement for Bank Nifty in upcoming weeks.

The Support for Bank Nifty Is 14320-13800 and Resistance is 14600-15020.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY

R2

R1

PP

S1

S2

7269

7199

7129

6989

R2

R1

PP

S1

S2

7927

7399

7135

6871

6343

R2

R1

PP

S1

S2

9419

7959

7229

6499

5039

7409

WEEKLY

MONTHLY

BANK NIFTY DAILY

R2

R1

PP

S1

14313

14305

14297

R2

R1

PP

S1

16275

14937

14268

13599

R2

R1

PP

S1

19833

16329

14577

12825

14329

WEEKLY

MONTHLY

S2

14281

S2

12261 S2

9321

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

7311

7532

7767

8011

BANK NIFTY

14816

15655

14490

17276

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

7286

7675

8297

BANK NIFTY

14650

16770

19185

PATTERN FORMATION ( NIFTY AND BANK NIFTY )

Depiction of Chart On the 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 lower band of the Bollinger Band and after breaking the level it has given the Gap up opening which is indicating the Bull movement for the Nifty the crucial Support for Nifty is 7200-7000 and the Resistance for Nifty is 7250-7280, if the Nifty is able to break the level of 7250 we may witness the level of 7350 for next week.

BANK NIFTY MACD

Details of Chart On 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 lower band of the Bollinger Band and after breaking the level it has reverse on Bull side on the other hand on the creating dot Upside which is the clear signal towards the Bull Market For The Bank Nifty , however the Bank Nifty crucial Support is 14200 and the Resistance is 14500. if the Bank nifty is crossing the 14300 level we may witness the 14500-14800 Levels.

NSE EQUITY DAILY LEVELS COMPANY NAME

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

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

R2

R1

PP

S1

S2

1288 46 196 867 399 2493 144 92 109 333 536 320 91 3133 333 3469 875 1076 998 2770

1280 45 195 859 396 2474 141 89 105 329 530 316 90 3102 329 3449 865 1067 993 2735 70 834 202 307 848 1140 60 638 1170 1252 33755 3631 213 85 51 341 951 423 45 167 76 870 322 60 256 119

1264 43 195 844 393 2440 139 86 102 323 524 313 87 3073 321 3430 846 1057 983 2669 69 824 198 304 841 1126 57 631 1150 1227 33382 3596 210 83 50 335 944 417 45 162 74 864 316 59 251 116

1256 42 194 844 390 2421 136 83 98 319 518 309 86 3042 317 3410 836 1048 978 2634 68 816 196

1240 40 194 836 387 2387 134 80 95 313 512 306 83 3013 309 3391 817 1038 968 2568 66 805 192 299 828 1105 53 617 1113 1180 32793 3516 204 79 49 325 929 406 43 154 72 851 307 57 243 110

71

842 204 309 854 1147 62 645 1187 1274 33971 3676 216 87 52 345 959 428 46 170 77 877 325 61 259 122

302

835 1119 55 624 1133 1205 33166 3551 207 81 49 331 936 412 44 159 73 857 313 58 248 113

TOP 15 ACHIEVERS

SR.NO

PREV CLOSE

SCRIPT NAME

CMP

//

1

BANK OF BARODA

117.45

139.65

+18.90 %

2

CAIRN INDIA LTD.

117.75

130.70

+11.00 %

3

VEDANTA LTD

67.40

74.50

+10.53 %

4

NMDC LTD

83.95

92.55

+10.24 %

5

TATA MOTORS LTD.

291.85

317.05

+8.63 %

6

IDEA CELLULAR

100.10

108.50

+8.39 %

7

ADANI POWER LTD

25.80

27.80

+7.75 %

8

TATA STEEL

235.65

253.45

+7.55 %

9

M&M FINSERV

200.55

215.50

+7.45 %

10

APOLLO TYRES

149.50

160.60

+7.42 %

11

FEDERAL BANK

45.25

48.55

+7.29 %

12

CYIENT LTD.

395.30

422.20

+6.80 %

13

NCC

60.95

65.00

+6.64 %

14

PIDILITE INDS.

587.20

625.20

+6.47 %

15

HEROMOTOCORP

2545.80

2707.0

+6.33 %

NSE FUTURE : ZEEL FUTURE : TREND WE CAN SL 383.

SR.NO

% CHANGE

1 1.11+2.11+3.11+4.

C112+5.

C11 A131A131A131A131A13 I701I 701I 701I 7031I 70 R. . . R. . . R. . . R. . . R. .

N8 79 7+ 07.

N8 79 7+ 08.

N8 79 7+ 09.

N 79 7+ 0N8 79 7 6.

N8 410.

52 01 0M3 52 01 0M3 52 01 0M3 52 01 0M3 52 0 M 3 I. . 0D I . . 0D I . . 0D I . . 0D I D 5 ..

N C95% .N C95% .N C95% .N C95% .N C95 D 51 5+ 2D 51 5+ 2D 51 5+ 2D 51 56+ 2D 51 5 I1 I1 I1 I1 I1 ID I I I L008 4D L008 4D L008 4D L008 4ID L00 A A A A A T08. E T08. E T08. E T08. E T E 7 08 D. . 3 %A D. . 3 %A D. . 3 %A D. . 3 %A D. .

A L159L159L159L159L15 T22+T22+T22+T228+T22 T T T T C3 05 07C3 05 07C3 05 07C3 05 07T C3 05 0 A D D D D D E53.%A E53.%A E53.%A E53.%A E 9. 53 .T . . .

L. . 5T L. . 5T L. . 5T L. . 5T L. .

L6 L6 L6 L6 L6 5 4 A 14 15 +A 14 15 +A 14 15 +A 14 110 +A A A A A A11 U5 45 67U5 45 67U5 45 67U5 45 67U5 45 6 P P P P %P L90% . L90% . L90% . L9011 . L90 A A A A A O. . 4S O. . 4S O. . 4S O. . 4S O. .

S R 54 6+ 2R 54 6+ 2R 54 6+ 2R 54 612 2R 56 C C C C C 3 3 3 3 + L L L L L34 T9 T T T 02 06 9 02 06 9 02 06 9 02 06T9 02 0 Y Y Y Y Y L52.%E L52.%E L52.%E L52.%E L E 13 52 IO. . 8IO. . 8IO. . 8IO. . 8IO. .

E320E320E320E320E32 P +P E56+P E56+P E56+P E5614 E56 02 06L8 02 06L8 02 06L8 02 06L8 02 0 L8 IN %IN %IN %IN %IN . T75 T75. T75. T75. T7515 D . . 4D. . 4D . . 4D. . 4D ..

T Y227T Y227T Y227T Y227T Y22 IR11+IR11+IR11+IR11+IR11 P 21P 21P 21P 21P 2 R00 R00 R00 R00 R00 L P 91% 1L P 91% 1L P 91% 1L P 91% 1L P91 L L L L E E E E L E IT. . . IT. . . IT. . . IT. . . IT. .

IS021IS021IS021IS021IS02 T N N N N N D009T D009T D009T D009T D00 F %E F %E F %E F %F E .R .R .R .R E .R A A A A A

TOP 15 LOOSERS

SCRIPT NAME

UNITED LTD.

PREV CLOSE

4.90

CMP

% CHANGE

3.81 -22.24 %

CSHIPPING C C CORPN. 74.00

58.10 -21.49 %

BHEL

128.05

101.90 -20.42 %

NALOK N N INDUSTRIES 4.85

3.86 -20.41 %

WOCKHARDT LTD 955.35

805.80

PI INDUSTRIES

557.00

-15.65 % 650.05

-14.31 % DELTA CORP LTD 65.30

56.40

ADANI 72.65 ENTERPRISES ORIENTAL BANK 95.80 OF VOLTAS LTD 269.20

63.00

WELSPUN CORP

95.50

84.15

PAGE INDUSTRIES 11584

10215

B F UTILITIES LTD 484.60

429.75

ADITYA BIRLA NUVO MMTC LTD

833

740

38.80

34.90

-13.63 % -13.28 % 83.70 -12.63 % 237.05 -11.94 % -11.88 % -11.82 % -11.32 %

I I I I I P P P P P N R N R N R N R N R O AND O O ZEEL FUTURE OPEN AT 377.15 HIGH OF 387 D D O D MADE D O D J J J J J S S S S S E E E EXPECT BULLISH TREND IN EIT.EMADE LONG POSITION .C .C C . C . C .

T T T T T

-11.10 % -10.05 %

MOVES IN BULLISH ABOVE 390 TGT 430

VOLTAS FUTURE : VOLTAS FUTURE MOVES IN BULLISH TREND TODAY. WE CAN MADE LONG POSITION IN IT ABOVE 242 TGT 260 SL 235.

ALBK FUTURE : ALBK OPEN AT 42.60 MADE HIGH OF 44.65 MOVES IN BULLISH TREND ON DAILY CHART OF IT ALSO SUGGEST BULLISH TREND. WE CAN MADE LONG POSITION IN ALBK ABOVE 45 TGT 60 SL 40.

NMDC FUTURE : NMDC MOVES IN BULLISH TREND TODAY ON DAILY CHART OF IT ALSO SUGGEST BULLISH TREND WE CAN EXPECT FURTHER UPSIDE MOVEMENT IN ABOVE 92 TGT 100 SL 85.

BEL FUTURE : BEL FUTURE MOVES IN BEARISH TREND TODAY WE CAN MADE SHORT POSITION IN BEL FUTURE BELOW 1120 TGT 1000 SL 1135.

(a) 75- (b) 75- (c) 75- (d) S75- (e) S75 H482H482H482H482H48 I. . 1I . . 1I . . 1I . . 1I . .

P01. P01. P01. P01. P01 P A0 40 34 -P A0 40 34 -P A0 40 34 -P A0 40 34 -P A0 40 3 IL. . 9 2IL. . 9 2IL. . 9 2IL. . 9 2IL. .

N N N N N O880O880O880O880O88 G K56% .G K56% .G K56% .G K56% .G K56 P65-4P65-4P65-4P65-4P65 C C C C I551I 551I 551I 551C I 55 O N074O IN074O IN074O IN074O IN07 R R R R D. . .%N D. . .%N D. . .%R D. .

ID. . .%N N P P P P U7 U7 U7 U7 U7 N 06 0-3A D 06 0-3A D 06 0-3A D 06 0-3P D 06 0 A A N N N N S2 S2 S2 S2 S2 53 01D U 53 01D U 53 01D U 53 01N U 53 0 D D .U . . . .

T. . 3A T. . 3A T. . 3A T. . 3A T. .

S S S S A R60.%N R60.%N R60.%N R60.%N R60 S T T T T N I502IR I 02IR I 02IR I 02IR I 0 IT V22- V5 22- V5 22- V5 22- V5 22 E 8E E E E E E E E R O631IO638 1IO638 1IO638 1IO63 S N S N S N S IS E E E E E N L971L971L971L971L97 E S. . % S. . % S. . % S. .

N T. . % .T .T .T .T S T A1 21 0-9E A1 21 0-9E A1 21 0-9E A1 21 0-9E A1 21 0 P P P P P E S1 00 51 4R S1 00 51 4R S1 00 51 4R S1 00 51 4R S1 00 5 A A A A A R P P P P G521G521G521G521G52 P R R R R L81.%E L81.%E L81.%E L81.%E L81 E R T8 T8 T8 T8 T8 47 5-8IA 47 5-8IA 47 5-8IA 47 5-8IA 47 5 A IID 2S S S ID341 2D ID341 2D ID341 2S ID34 D341D D S E E E E IN301IN301IN301IN301IN30 E D .%S D .%S D .%S D .%S D T T T T T S U 1Y U 1Y U 1Y U 1Y U Y S 0A S 0A S 0A S 0A S A T T T T T R %B R %B R %B R %B R B I I I I I E R E R E R E R E R S L S L S L S L S L A A A A A N U V O

N U V O

N U V O

N U V O

N U V O

NSE CASH : PRAJIND NSE CASH : A HIGHER LOWS FORMATION CAN BE SEEN ON DAILY CHARTS OF PRAJIND WHICH SHOWES SOME STRENGTH IN TECHINICAL STRECTURE. A SHORT RALLY CAN BE SEEN ABOVE THE LEVEL OF 82.LONG POSITION CAN BE MADE ABOVE 82 FOR TGT OF 90 AND SL OF 79.

ARSSINFRA CASH

: LONG POSITION CAN BE MADE IN ARSSINFRA ABOVE 32 FOR TGT

OF 35 AND SL OF 30.75.

COX&KINGS CASH : LONG POSITION CAN BE MADE ABOVE 164 FOR TGT 177 AND SL 158 RESPECTIVELY.

RUSHIL CASH : LONG POSITION CAN BE MADE IN RUSHIL ABOVE 272 FOR TGT AND SL OF 296 AND 263 RESPECTIVELY .

FORTIS CASH : FORTIS GAINED ABOUT 12% ON FRYDAY. LONG POSITION CAN BE MADE ABOVE 182 FOR TGT AN SL OF 199 AND 176 RE

NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK PM calls Rajya Sabha, Lok Sabha leaders to discuss Budget session - Prime Minister Narendra Modi has called for a meeting of leaders from major political parties to seek their cooperation for the smooth running of Parliament during the Budget session beginning next week. The Budget Session of the Parliament will begin on February 23.

The first session will continue till March 16 the second session will take place from April 25 to May 13.

New crude import policy for spot purchases soon: Oil Minister - Union Minister for Petroleum & Natural Gas, Dharmendra Pradhan on Monday said that his ministry will soon move a cabinet note on crude import policy that will do away with tendering and allow spot purchases. Under the tendering route, the country normally pays higher prices and suffers delays while a system of spot purchases will ensure better delivery at lower prices.

Draghi says ECB won't hesitate to act in March - The European Central Bank will not hesitate to act to boost its stimulus in March if it believes that recent financial-market turmoil or lower oil prices could weigh further on consumer prices, ECB President Mario Draghi said on Monday.“The ECB is ready to do its part,” Draghi told the European lawmakers in Brussels. Last month, Draghi had stated that the central bank would review and possibly reconsider stimulus to drive up stubbornly low inflation.

Raghuram Rajan says not in favour of undervaluing exchange rate - The Reserve Bank of India and the government don’t favour undervaluation of the exchange rate, RBI Governor Raghuraman Rajan reportedly said. “There are those who argue that in countries such as China, Japan and Korea business enterprises grew via an undervalued exchange rate,” Rajan was quoted as saying at the India MSME Summit-2016. The exchange rate will not be a source of either comparative advantage or disadvantage, Rajan said. Rajan reportedly said that RBI wants the exchange rate to be reasonably predictable and reasonably stable.

ASSOCHAM Reaction: WPI for January 2016 - Apex industry body ASSOCHAM today said that fall in continuous fall in India’s wholesale prices is in line with industry’s

expectation due to multiple factors like decline in prices of crude oil and other commodities, global weak demand, negative sentiments resulting from global economies such as China and Japan, continuous decline in exports and others.

FIPB approves 10 FDI proposals worth Rs. 607 crore - FIPB on Monday approved 10 FDI proposals worth Rs. 607 crore, says report. FIPB also approved Glenmark Pharma, Cipla, DEN Networks' FDI proposals.

While FIPB defered 8 & rejected 5 FDI Proposals.

Non-tax receipts top Rs 2 lakh crore: Finance Ministry - Government has collected over Rs 2 lakh crore as non-tax receipts in the current fiscal, with biggest pie coming from the dividends paid by state-owned firms and the Reserve Bank. It had budgeted over Rs 2.21 lakh crore for 2015-16 from non-tax receipts, which include dividends, profits and interests receipts. "Annual collection of non tax receipts is over Rs 2 lakh crore.

Biggest share flows from dividends paid by Public Sector Undertakings, RBI," a finance minister said.

WPI inflation to inch up to 2% by March 2016, says CARE – Headline deflation witnessed a significant moderation for the fifth consecutive month. WPI was recorded at negative 0.90% for Jan’16 compared with -0.73% in the previous month and 0.95%recorded in the corresponding period of the previous fiscal However, the persistent rise in prices of primary articles for five consecutive months has been the main component building the inflationary pressure.

Chinese companies and banks face rising risks as economy rebalances: S&P China's growth is steadying and rebalancing, thus shifting the focus to consumption. At the same time, rising credit costs and weakening profitability in China's banking sector are tightening liquidity for weak corporate borrowers. Can consumption stay strong and how will this affect China's central and regional governments, financial institutions, and its various industries.

Can FM afford the much-needed rural focus in budget - One thing almost every economist analysts agree in their projections for the Union Budget is that the Finance Minister should turn his focus on the rural sector this time around after two years of failed monsoon, which along with a slowdown in the government's flagship scheme MNREGA

and slower rise in minimum support prices for agro-commodities left the rural economy in the shambles, drying up demand for consumer durables and bikes and cars, which has in turn hit toplines of a vast part of India Inc.

FIIs sell shares worth Rs. 1,123 crore; 2016 net selling reaches US$ 2.1 billion - In the wake of rising uncertainty over the health of world economy, the foreign investors continued their net selling in Indian equities on Tuesday, which dragged the equity market. According to the Central Depository Services India Ltd data, the Foreign Portfolio Investors were net sellers to the tune of Rs. 1,123.05 Crore in equities on Tuesday. FPIs were net sellers of Rs. 526.82 crore in debt segment. This made their total net selling in Indian securities market to Rs. 1,649.87 crore in a single day.

Moody's sees India's GDP growth at 7.5% in 2016-17 - Moody's reportedly said it expects that the government will cut spending to maintain deficit in line with 3.5% of GDP. Moody's forecast stable GDP growth for India at around 7.5% in 2016-2017. The firm warned the generally robust economic environment is constrained by “banks’ balance sheet repair, says report. Moody's said that India's economy is powered by sustained growth in consumer spending.

US cos may line up $27 billion investments in India in two years: USIBC - American companies invested an over $15 billion ever since the Narendra Modi government came to power and are expected to further increase the investments by $27 billion in the next two years, according to US-India Business Council (USIBC). "The reforms undertaken

by India in the last two years under Prime Minister Modi's leadership are resonating very well with the US companies," USIBC President Mukesh Aghi said today.

Make In India Week: Rs. 15.2 lakh crore commitment by corporates - First ever Make In India Week in Mumbai with the biggest show of manufacturing prowess, concluding on a high note. Created avenues for showcasing, connecting and collaborating for manufacturing in India Promoted an Investment enabling environment Provided encouragement to to Design, Innovation, Youth and Startups Provided a platform where global CEOs, think tanks, policy makers, Diplomats and Political leaders converged Addressing the Closing Press Conference in Mumbai, the Make In India Week witnessed a business commitment of Rs 15.20 lakh crore in investment.

TOP ECONOMY NEWS

India's exports in January fell 13.6% from a year earlier to $21.07 billion, declining for the 14th consecutive month; contraction in imports narrowed the trade gap to an 11month low.

Wholesale

price inflation touched -0.90% in January, compared with -0.73% in the

previous month, holding in the negative zone for 15 months in a row, showed official data released on Monday.

The

department of telecommunications has allowed sharing of active telecom

infrastructure including antenna, feeder cable and transmission systems, a move that will lower costs for telecom operators and lead to faster roll out of networks.

Continuing its efforts to gain lost ground in the rural and semi-urban areas in recent local body polls, the Gujarat government on Monday announced a dedicated policy for cottage and village industries.

The

Coal Ministry is likely to come out with the approach paper for formulating a

detailed policy on commercial coal mining by March this year.

The combined GDP of almost 4.7 trillion that ASEAN and India bring together defines one of the most important economic spaces to impact the lives of nearly two billion people. With the coming into force of ASEAN Economic Community on 31st Dec 2015 and the expected conclusion of RCEP negotiations this year, the India ASEAN relationship is expected to receive a shot in the arm.

Passenger car shipments from India declined 18.85% to 33,909 units in January due to challenges in top export markets like Algeria, Europe and neighboring countries.

The telecom ministry has proposed a 10-year tax holiday for mega projects in the sector as part of its recommendations for the upcoming Union Budget that are aimed at attracting fresh investments for the Make in India programme.

Natural gas prices in India are likely to decline 17% in April to $3.15 per unit, further straining economics of developing discoveries in deep sea.

Trai

will set inter-connection charges for Voice over Internet Protocol calls once the

Department of Telecom amends the relevant clause of the Unified Licence framework.

India

has completed most of the consultation process related with the WTO trade

facilitation agreement and the government expects to ratify it soon.

India is growing at a decent rate considering the overall economic scenario of the world.

A 7% plus growth rate where most economies are slowing or contracting is definitely something to cheer about. But, what is confusing most people is the discrepancy between the IIP growth rates and the GDP growth rates.

Indian Steel Association, industry lobby group which includes top steel producers like Tata Steel, SAIL, JSW Steel, Essar Steel and RINL as its members, has urged the government for a financial package for the steel industry, in line with similar support extended to sugar and textile sectors.

The

Employee Provident Fund interest rate for 2015-16 has been increased to 8.80%

from 8.75%.

India's

12 major ports saw cargo traffic increase by 3.36% to 499.23 million tonnes

during the first 10 months of current fiscal.

Cellular Operators Association of India has asked Department of Telecommunications, to retain the block size for spectrum in 2,300 MHz and 2,500 MHz bands at 20 MHz instead of 10 MHz as suggested by telecom regulator Trai.

Continuing its efforts to gain lost ground in the rural and semi-urban areas in recent local body polls, the Gujarat government on Monday announced a dedicated policy for cottage and village industries.

The

Coal Ministry is likely to come out with the approach paper for formulating a

detailed policy on commercial coal mining by March this year.

The Gujarat government is expecting over Rs 40 billion worth investment commitments in tourism sector during its upcoming event Vibrant Gujarat International Travel Mart 2016.

Oil

Marketing Companies have slashed prices of petrol by 32 paise/ liter and raised

diesel rates by 28 paise/liter in order to align the domestic rates of the automobile fuels with global benchmarks.

India

has identified 100 blocks for exploration by private companies the government

wants to boost mineral output and cut dependence on overseas purchases.

TOP CORPORATE NEWS Mahindra & Mahindra plans to invest Rs 80 billion on its automotive plants in Maharashtra over the next seven years as part of its expansion plans.

The US FDA in its observation has found major anomalies – including systemic data manipulation and manufacturing norm violations – at the three plants of IPCA Laboratories.

Prestige group is in final talks to sign a joint development with a local builder in Pune to set up an Infotech park in the city.

Biocon has received its first generic formulation approval in Europe, paving the way for the company to launch Rosuvastatin calcium tablets in several European countries.

Tata Consultancy Services has been recognized as the UK's top employer by the Top Employers Institute. TCS has a UK workforce of more than 11,000 employees based across 30 locations.

JSW Group is looking to buy distressed port assets in the country as part of a strategy for a massive expansion of its ports capacity.

Vedanta Limited has reached an understanding with the Government of Odisha to commission an aluminum park in Jharsuguda. The two sides reached an intention sharing on the sidelines of the Make in India Week in Mumbai and a MoU would be signed in few months.

BHEL Limited has commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement and construction basis in Tripura.

Yes Bank has signed an agreement with the Indian Renewable Energy Development Agency to foster renewable energy development in India.

ONGC will cut down expense on travel, advertisements and sponsorships as well as 5star meetings as it initiates cost controls in response to revenues getting hit by slump in global oil prices.

Reliance Jio Infocomm has teamed up with eight leading global carriers including British Telecom, Deutsche Telekom, Millicom, MTS, Orange, Rogers, TeliaSonera and TIM to forge an international operator alliance to rapidly bring innovative products and services in their respective markets, and exchange industry best practices.

The Income Tax Department has extended till March 31 the bar on UK's Cairn Energy plc selling its residual stake in erstwhile subsidiary Cairn India as the Rs 10,247 crore tax dispute lingers on.

Tata Steel SEZ today said it plans to invest about Rs 2,000-2,500 crore for development of infrastructure at Gopalpur in Odisha in the near term.

Allcargo Logistics reported a 14.30 per cent decline in net profit at Rs. 61.51 crore for the quarter ended December 2015 due to decline in income.

HCL Technologies has bagged the largest outsourcing contract in recent times from Swedish auto maker Volvo Group, with the deal valued at over $ 2.8 billion spread over five years.

Punj Lloyd announced winning oil & gas EPC orders worth Rs 2070 crore from Oman Oil Refineries and Petroleum Industries Company and Oman Gas Company which are owned by the Government of the Sultanate of Oman and Oman Oil Company SAOC. Idea Cellular is planning to extend its 4G LTE services to two more markets Maharashtra and Goa, and Northeast - by March 2016, and expand its footprint to cover 750 cities across 10 telecom circles by June.

DLF Ltd. is aiming to increase its office and retail supply to 36-40 million sq ft in the next two to three years.

United Breweries Ltd, in which liquor baron Vijay Mallya is a majority owner, has said that Punjab National Bank has declared the company as a "willful defaulter".

Inox Wind has bagged 100-MW wind power project order from Tata Power Renewable Energy Limited at Rojmal, Gujarat.

GSK Pharmaceuticals is undertaking a Rs 5 billion upgradation of its unit in Nashik to expand its portfolio of thyroid and dermatology products.

Bharat Petroleum Corp Ltd has received clearance from the Environment Ministry for a Rs 3.3 billion project at its Kochi Refinery in Kerala.

Dr Reddy's Laboratories Limited, which currently has free cash flows of about Rs 25 billion, has set a growth agenda to tap organic and inorganic opportunities, according to its chief financial officer.

Tata Motors have reportedly bagged a project to supply 25 units of its BS IV-compliant Starbus Hybrid bus to Mumbai Metropolitan Region Development Authority. The bus was showcased at the recently concluded Auto Expo 2016.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK ICICI Bank today announced the launch of a virtual mobile app development challenge, India’s largest mobile app development initiative by a bank. Christened ‘ICICI Appathon’, the programme aims to attract developers, technology companies, startups, technopreneurs and students to create the next generation of banking applications on mobile.

Till now, the general consensus has been that SLR requirements are a blessing-indisguise for banks as it helps reduce liquidity risks in the banking sector. Currently, RBI requires banks to put 21.5% of their deposits in government bonds under the SLR category.

SBI Chairman, Arundhati Bhattacharya, states that NPAs are expected to rise in the next quarter and affect profits. She also states that the bank will evaluate the current NPA situation and look at how to deal with the rising NPAs after March.

The Reserve Bank of India and the government don’t favour undervaluation of the

exchange rate as a means to spur economic growth, RBI Governor Raghuraman Rajan said. “There are those who argue that in countries such as China, Japan, and Korea business enterprises grew via an undervalued exchange rate,� Dr. Rajan said.

HDFC Bank customers will soon be able to pay at credit card swipe machines using sound from their handsets. The private bank has become the first to sign up with Bengaluru-based startup Tone Tag to provide a phone-based proximity payment service that requires neither special handsets nor any new acceptance device.

Country's fifth-largest private lender Yes Bank today signed an agreement with the Indian Renewable Energy Development Agency

to foster renewable energy

development in India.

Prime Minister Narendra Modi met senior finance ministry officials last week to take stock of rising bad loans at state-run banks.As part of its balance sheet clean-up exercise, state-owned Punjab National Bank plans to sell up to Rs 3,000-crore bad loans to asset reconstruction companies in the fourth quarter.

Standard & Poor's Ratings Services has affirmed its 'BBB-' long-term rating on Union Bank of India on expectations that the government will infuse capital into the lender.

State Bank of India has informed the BSE that the bank has raises Rs. 3,000 crore via bond issue with 10 year tenure, bearing 8.45% p.a. coupon and with call option after 5 years, aggregating to Rs.3,000 crore on private placement basis.

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