TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - The market has opened flat on Monday with negative bias on a very crucial week. The Nifty is up 2.85 points at 7213.60. The Nifty was traded up 35 points , After the global rating agency Moody’s pegged India’s growth at 7.5% for next two years. Asian share markets edged cautiously higher on Monday as investors awaited a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union. US oil prices fell as much as 5 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi ruled out any production cuts , The market has opened sharply lower on Wednesday, tracking weak global cues. The Nifty declined 34.85 points or 0.49 percent to 7074.70. Asia stocks traded mostly down, with a combination of low oil prices, concerns over China and weak overnight data weighing on investor sentiment and miss in the US consumer confidence index. All eyes would be on the ongoing Budget session of Parliament. The Nifty50 traded on a cautious note on Thursday ahead of Rail Budget and February future & option expiry. The Support for Nifty is 6950-6820 and Resistance for Nifty is 7080-7200.
BANK NIFTY : - The Bank Nifty give Gap Down opening on Monday at 14331 by 13 points. The Bank Nifty is currently trading at 13853. Chunky loans from large public sector unit banks have driven the surge in non-performing assets in banking System , At Rs 4 lakh crore, bad loans exceed market value of PSU banks , investors carry the burden of Rs 150 as bad loans, which have cumulatively ballooned 1.5 times the market value of these lenders. The step has taken by RBI and the Govt. to overcome the debt of PSU Banks through the Strategic Debt Restructuring , The Support for Bank Nifty is 13400-12900 and Resistance for Bank Nifty is 14000-14600.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
WEEKLY
MONTHLY
R2
R1
PP
S1
S2
7218
7086
7020
6954
6822
R2
R1
PP
S1
S2
7914
7356
7077
6798
6240
R2
R1
PP
S1
S2
9323
7883
7163
6443
5003
BANK NIFTY DAILY
R2
R1
PP
S1
14061
13772
13483
R2
R1
PP
S1
16783
14887
R2
R1
PP
S1
120443
16351
14305
12259
14639
WEEKLY
MONTHLY
13939
S2
12905
S2
12991
11095 S2
8167
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
7212
7464
7723
7980
BANK NIFTY
14420
15389
16325
17163
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
7180
7600
8310
BANK NIFTY
14190
16490
19070
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 6950-6920 and the Resistance for Nifty is 7080-7200 , if the Nifty is able to break the level of 7080 we may witness the level of 7200 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 touched the lower band but not break. the Bollinger Band and after touching the level it has reverse on Bull side on the other hand on the creating dot Upside which is the clear signal towards the consolidation Market For The Bank Nifty , however the Bank Nifty crucial Support is 13400 and the Resistance is 14060 . if the Bank nifty is crossing the 14000 level we may witness the 14200-14400 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
1242 46 195 884 394 2400 139 87 97 328 532 319 90 3038 320 3461 823 1072 965 2667 68 854 187 293 831 1143 57 627 1134 1255 32832 3550 222 82 57 335 962 421 47 161 74 889 309 59 255 119
1226 45 192 874 390 2320 135 85 95 323 528 315 89 3016 313 3381 815 1057 953 2644 67 848 172 289 819 1126 55 617 1110 1242 32616 3482 219 80 55 330 953 416 46 159 73 886 306 58 252 114
1218 44 189 864 386 2270 131 84 93 320 524 308 87 3000 307 3330 808 1042 942 2621 67 842 184 286 812 1114 54 610 1096 1229 32358 3441 214 79 54 323 947 409 44 155 71 877 301 58 247 110
1202 43 186 854 382 2190 127 83 92 315 520 304 85 2978 299 3250 807 1034 946 2619 67 840 180 283 800 1097 52 600 1072 1216 32142 3373 211 77 52 318 937 404 43 153 70 865 298 57 244 105
1194 42 183 844 378 2140 123 81 90 312 516 297 83 2962 294 3199 800 1019 934 2596 66 834 177 280 792 1084 50 593 1058 1203 31884 3332 206 76 50 311 931 397 41 149 68 856 293 57 239 101
TOP 15 ACHIEVERS
SR.NO
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
SCRIPT NAME
PREV CLOSE
CMP
//
SR.NO
% CHANGE
ONGC
200.35
216.05
+7.84 %
HINDALCO INDUS.
65.80
69.45
+5.55 %
HUL
812.55
849.90
+4.60 %
BOSCH LTD.
16140
16711
+3.53 %
ZEEL
370
381
+2.85 %
M&M
1200
1230
+2.47 %
INFOSYS
1097
1121
+2.12 %
SUN PHARMA
855.80
871.90
+1.88 %
HEROMOTOCORP
2524
2555
+1.22 %
DR. REDDY LABS
2960
2994
+1.13 %
CIPLA
519
524
+0.94 %
ASIAN PAINTS LTD.
856
862
0.77 %
WIPRO LTD.
526
530
0.67 %
LIC HOUSING FIN
406
408
+0.57 %
D B CORP LTD.
305
306.85
0.54 %
NSE FUTURE : PETRONET FUTURE : PETRONET CONTINUOUSLY MOVES IN BEARISH
TOP 15 LOOSERS
SCRIPT NAME
BHEL
1
1.66+2.66+3.66+4. H662+5. H66 HMARUTI H H SUZUKI I595I 595I 595I 595I 59 IND N. . . N. . . N. . . N. .3. N. . GAIL LTD. D845D845D845D845D84 6.11+7.11+8.11+9. B11+10. B11 BADANI B BPORTS A055A055A055A0545A05 O663O663O663O663O66 L L L L 5L S17. S17. S17. S17. S17 BAJAJ AUTO LTD. C %C %C %C %C C415C415C415C415C41 M O11+M O11+M O11+M O11+M O11 NTPC H013H013H013H0163H01 &222&222&222&222&22 YES BANK LTD. M I03. M I 03. M I 03. M I 037. M I 03 L %L %L %L %L 0 0 4 0 0 4 0 0 4 0 0 4 0 0 N N N N SN T88+ST88+ST88+ST888+ST88 GRASIM 7D 7D 7D D577 1D 571D571D57 INDUSTRIES D D571D U U51. U U51. U U U U U U POWER GRID . . . 51. . 519. . 51 %S %S %S SN. . % S 8N. . 8N. . 8N. . 8N. . CORPO D 2+D22+D22+D22+D 22 AXIS BANK LTD. .2 898. 898. 898. 810 98. 89 991 991 991 991 99 R00 R00 R00 R00 R00 BANK OF BARODA 11 69. 69. 69. 69 . 69 P %P %P %P %P .041. 041. 041. 041. 04 A880A880A880A88 0A88 VEDANTA 12 H563 H 3H 3H 3H R . R56. R56. R56. R56 S S S S S 13 7A62 ICICI BANK A627A627A627A62 E %E %E %E %E I 7I 7I 7I 7I LR44+LR44+LR44+LR44 +LR44 ITC LTD. 14 D000D000D000D000D00 A A A A A IM %IM %IM %IM %IM . D68 ACC D68. D68. D68. D68 N N N N 15N C 5 C 5 C 5 C C A A A A A11 R11+R11+R11+R115 Y 7Y 7Y 7Y +7R Y
PREV CLOSE
CMP
105.75
95.10
3749
3409
324
304
212.50
200.10
2357345
2238.10
128.00
121.55
720.35
686.55
3455.80
3300.60
139.60
133.65
403.10
386.35
138.80
132.75
74.40
71.80
190.75
184.80
299.85
290.95
1226.05
1190.90
% CHANGE
-10.07 % -9.07 % -6.19 % -5.84 % -5.06 % -5.04 % -4.69 % -4.49 % -4.26 % -4.16 % -4.01 % -3.49 % -3.12 % -2.97 % -2.87 %
P021P021P021P021P02 P911P911P911P911P91 P. . . P. . . P. . . P. . . P. . H %H %H %H %H LI021LI 021LI 021LI 021LI 02 A N009A N009A N009A N009A N00 O O O O O A A A A A IF %IF %IF %IF %IF U U U U R R R R U R B A B A B A B A B A N N N N N
S SP T IR SO FUTURE N
S S S S SP SP SP SP T T T T IR IR IR IR SOMOVES SO SO SO N N N N
J J TREND EG ONEG C C LT LT
IN BEARISH TREND TODAY IT
J J J E G E G E G CHART DAILY C C C LT LT LT
WE CAN EXPECT FURTHER
DOWNSIDE MOVEMENT IN IT BELOW 230 TGT 200 SL 235.
JINDALSTEL FUTURE : JINDALSTEL
T T T T T F F F F F D D D D D I I I I I MOVES .IN. BEARISH . . . N N N N N
TREND TODAY ON DAILY CHART
OF IT STRONG SUPPORT MADE WE CAN MADE SHORT POSITION IN IT BELOW THE SUPPORT LEVEL OF 53 TGT 45 SL 57.
BHEL FUTURE : AFTER A LONG BEARISH RALLY
BULLISH TREND SHOWS iIN BHEL
TODAY ALSO RESISTANCE LEVEL 97 CAN BE SEEN ON BHEL CHART WE CAN EXPECT BULLISH TREND IN BHEL ABOVE 97.50 TGT 110 SL 90.
COALINDIA FUTURE : COAL INDIA MOVES IN BULLISH TREND TODAY ON INTRADAY CHART OF COAL INDIA STRONG RESISTANCE LEVEL CAN BE SEEN WE CAN MADE LONG POSITION IN COAL INDIA ABOVE 297 TGT 330 SL 285
ASHOKLEY FUTURE : WE CAN MADE LONG POSITION IN ASHOKLEY FUTURE ABOVE THE LEVEL OF 87 TGT100 SL 82
(a) 33- (b) 33- (c) 33- (d) M 33- (e) M 33 A749A749A749A749A74 R40. R40. R40. R40. R40 U990U990U990U990U99 A22- A22- A22- A22- A22 T 7T 7T 7T 7T D105D105D105D105D10 I I I I I A20. A20. A20. A20. A20 S %S %S %S %S N. . 8N. . 8N. . 8N. . 8N. . N U11- N U11- N U11- N U11- N U11 I514I 514I 514I 514I 51 TZ225TZ225TZ225TZ225TZ22 P00 P00 P00 P00 P00 P U81. P U81. P U81. P U81. P U81 O %O %O %O %O C . . 0C . . 0C . . 0C . . 0C .. K K K K G33- R G33- R G33- R G33- K G33 R R 54I 054I 054I 054I 05 IR0 T434R T434R T434R T434R T43 5 I 05 I 05 I 05 I 05 I0 A S50. A S50. A S50. A S50. A S50 % %N %N %N N S504N S504S504S504S50 A 43- A43- A43- A43- A43 ID. . 9ID. . 9ID. . 9ID. . 9ID. . X084X084X084X084X08 M 86 M 86 M 86 M 86 M 86 I36. I 36. I 36. I 36. I 36 00%00%00%00%00 S. . 1S. . 1S. . 1S. . 1S. . V I77- V I 77- V I 77- V I 77- V I 77 136 136 136 136 13 EN413EN413EN413EN413EN41 B05 B05 B05 B05 B05 D. . . D. . . D. . . D. . . D. . A %A %A %A %A A 484A484A 484A484A 48 U IN22- U IN22- U IN22- U IN22- U IN22 N 09N ST0 S009N S009N S009N S00 K992TK992TK992TK992TK99 T T T T T C90. C90. C90. C90. C90 A A R. . % R %A R %A R %A R L 9L. . 9L. . 9L. . 9L. . LIT897LIT897LIT897LIT897LIT89 ET55 ET55 ET55 ET55 ET55 D D D D D S %D S S %D S S D . . %D . . %D . . . . . .
NSE CASH : RUSHIL NSE CASH : LONG POSITION CAN BE MADE IN RUSHIL ABOVE 315 FOR TGT AND SL OF 345 AND 305 RESPECTIVELY.
BALRAMCHIN NSE CASH : TRENDLINE BREAKOUT AND A NEW PRICE CYCLE IS EXPECTED TO START IN BALRAMCHIN ABOVE THE LEVEL OF 84.LONG POSITION CAN BE MADE ABOVE THAT LEVEL FOR TGT AND SL OF 92 AND 80.50.
ALKEM NSE CASH : LONG POSITION CAN BE MADE IN ALKEM ABOVE THE LEVEL OF 1292 WHICH IS ALSO A BREAKOUT LEVEL OF A HAMMER PATTERN ON DAILY CHART,1398 AND 1257 WOULD BE TGT AND SL RESPECTIVELY.
COX&KINGS NSE CASH : LONG POSITION CAN BE MADE ABOVE 152 FOR TGT OF 165 AND SL OF 147.
GATI NSE CASH : LONG PODITION CAN BE MADE IN GATI ABOVE 106 FOR TGT OF 115 AND SL OF 102.
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK FinMin releases Rs. 4 lakh crore to states under tax devolution - The Union Government accepted the recommendations of the Fourteenth Finance Commission under which there was a phenomenal increase in the tax devolution to the States due to increase of share in the divisible pool of taxes from 32% to 42%. As per its commitment, in the Union Budget for 2015-16, the Ministry of Finance made a provision of Rs. 5.24 lakh crore under devolution of taxes to States as compared to the allocation of Rs.3.38 lakh crore in 2014-15. So far, Rs. 411681.66 crore has been released to the States by way of tax devolution and as per convention, three more installments will be released in March 2015 based on the tax collections till then. Forex reserves rises by $347.20 mn - India’s foreign exchange reserves surged by $347.2 mn in the week ended February 12 to $351.83 billion, according to RBI data. Gold reserves remained unchanged. Foreign currency assets rose by $1.58 billion.
Infra sector expects higher budgetary allocations towards specified infra projects Pre-Budget Expectations on Infrastructure Sector, The infrastructure sector expects higher budgetary allocations towards specified large infrastructure projects such as Bullet trains, Dedicated Freight Corridors, Bharat Mala, Sagar Mala, Smart Cities, low-cost airports, inland waterways development, etc. Compliance with Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act has increased the land acquisition cost and is now estimated to be in the range of Rs. 1,800-1,950 billion over next three odd years. This coupled with ambitious target execution rate of 30 km/day would require doubling the budgetary allocation for the road sector alone.
Budget session likely to get off to a stormy start on Feb 23 - After Prime Minister Narendra Modi's meeting with leaders of opposition parties on February 16, Parliamentary Affairs Minister M Venkaiah Naidu will hold another all-party meeting tomorrow to reach out to political rivals for smooth functioning of Parliament. The same day, Lok Sabha Speaker Sumitra Mahajan will also hold consultations with leaders of all parties in the House. A meeting of the Congress Working Committee has been convened by party chief Sonia Gandhi on the eve of the session. The deliberations at the meeting is expected to set the tone for the Budget session. At the Monday meeting, Congress will
finalize its floor strategy for the session. Chairing a meeting of leaders of all parties from Rajya Sabha, Chairman Hamid Ansari yesterday reminded them "time has come to assure the public that parliamentary democracy does work and is sensitive to the needs of the people." The remarks come in the backdrop of last two sessions being a virtual washout with the opposition and government locking horns over a number of issues including the key reform measure of GST.
7.6% GDP outlook is significant : Shaktikanta Das - India's growth projection for the current fiscal is "very, very significant", Shaktikanta Das has said and promised more measures to boost economic growth. "India remains a bright spot amid the global slowdown. We live in a global village. Therefore, whatever happens in any part of the world affects us because India over the last several years is getting increasingly globalised," economic affairs secretary Shaktikanta Das said on the finance ministry's on Monday
Budget 2016: Down to the wire, Finance Minister Arun Jaitley to meet economists In an unconventional move, Finance Minister Arun Jaitely will meet economists and market experts on Saturday, barely 48 hours ahead of his Budget speech on Monday. Minister of State Jayant Sinha and other key Finance Ministry officials will be part of the meeting, sources said. While the agenda is under wraps, it is learnt that the Finance Ministry sent out invitations over email on Tuesday for the 90-minute meeting that is scheduled to start at 11 am. “The meeting is aimed at sensitising economists about the backdrop in which the expenditure budget has been prepared and to make them appreciate the difficult situation,� an official source said.
Rail budget to unveil massive plan with increased outlay of Rs 1.25 lakh crore - The Railway Budget 2016 is likely to unveil massive capacity creation plan in the sector with an increased outlay of about Rs. 1.25 lakh crore, as per reports. Safety upgradation, electrification, doubling and modernisation of yards is considered as the top priority this budget session. Reports state that Railway Minister Suresh Prabhu will have to depend on the External Budgetary Resources for the execution of this plan since the projects are likely to be funded by EBR.
Indian PSU banks need more Govt fund to susutain credit profile: Moody's Moody's Investors Service says that the credit profiles of Indian public sector banks will worsen, if the government does not revise upwards its capital infusion plan for the banks in the Indian upcoming budget to be presented on 29 February 2016. "While the reported NPLs of the 11 public sector banks that we rate registered a significant 0.9%-4.1%
increase in the most recent quarter ended 31 December 2015, Moody's view of the true underlying asset quality of these banks has remain unchanged, "says Srikanth Vadlamani, a Moody's Vice President and Senior Credit Officer.
Prabhu lives up to economic challenges: ASSOCHAM - Railway Minister Mr Suresh Prabhu has given a no-tariff hike budget without compromising on the capital expenditure for increasing carrying capacity, both passengers and freight even in a challenging economic environment marked by a severe slowdown in the commodity sectors, which are lifeline of the Railways’ earnings, ASSOCHAM President Sunil Kanoria said. While committing himself to improving the Railways in terms of better passenger amenities and adopting a service-provider approach to the industry, which is the main revenue customer for it, Mr Prabhu has lived up to his reputation of being a financial wizard in banking on non-budget resources for funding the capital plans. He knows it too well, there are limited options through the Gross Budgetary Support.
Going Digital can save the country Rs.20,000 crores - The recent decision by the Government of India to bring digital payments at par with cash is a watershed moment in the creation of a truly digital India. In combination with Aadhaar and Jan Dhan Yojana, this move constitutes the most wide ranging and ambitious program for the digital transformation of the country. India is amongst the most cash intensive cash economies in the world. India's cash to GDP ratio is 12%, which is 3-4 times that of comparable economies like Brazil and South Africa. The cost of managing this high cash dependence is over INR 20,000 Crores in the formal banking system and much more in the entire economy. With this strong signal, we are on our way to wean the country off its expensive and inefficient addiction to cash. Going digital will not only save the country Crores of rupees, it will also provide consumers and merchants a more secure and frictionless way of transacting.
We are confident that the government’s continued
support for the digitization of payments will further fuel growth and innovation in the sector, with significant long term socio-economic benefits to the Indian economy.
Economic Survey 2016: Panagariya bats for a 50 basis point rate cut by RBI to begin with - The survey, which was presented by Chief Economic Advisor Arvind Panagariya highlighted that the government remained on path of fiscal consolidation, implying that RBI should now do what was required out of them i.e. monetary policy easing in order to lift the growth of the economy; the target of which was set at conservative 7-7.5% in light of global uncertainties and likely scenario of Fed rate hikes. The survey highlighted of a more accommodative stance from Reserve Bank of India in cutting rates further and estimated the FY17 inflation to be at ~4.5-5%.
TOP ECONOMY NEWS The Public Investment Board has approved the Rs. 8 billion proposal from India Post for setting up a payments bank and it will be placed before the Cabinet within a month for final approval. The Prime Minister, Shri Narendra Modi, today launched the National Rurban Mission from Kurubhat, in Rajnandgaon district of Chhattisgarh. Government is considering a proposal to permit 49% FDI through automatic approval route in the insurance sector with a view to attracting more overseas inflows. The transport ministry is hopeful of receiving the Cabinet approval soon on the proposal to sell over 100 operational toll road projects to sovereign and pension funds that will garner at least US$7.7 billion. The current government came to power in 2014. Since then, there have been hopes that future budget might lay out plans for big-ticket reforms. But the same has not happened till now. So even though many people feel that this will be the last budget in which government can push for some serious reforms, it will be wrong to assume that government might announce something very dramatic. The global higher education sector is undergoing significant transition, with growing demand, increasing competition, and evolving funding models, Moody's Investors Service says in a new report. The strength of enterprise risk management and strategic positioning will drive the financial health of individual universities as they adapt to this changing environment. Budget is Coming against a backdrop of heightened tensions between the government and opposition over several key issues, Budget Session is set to witness some stormy start from 23rd February 2016. Parliamentary Affairs Minister M Venkaiah Naidu, while speaking ahead of the session, remained confident that the important bills like GST and Real Estate will achieve a "broader concensus" and also said that the government is ready to discuss on all the fronts including the JNU row. In a bid to evacuate mine sites to comply with the directive of the Supreme Court, the Government of Goa has put nearly eight million tonnes of low-grade iron ore for immediate auction at the price rejected by most buyers in previous auctions. Four industrial cities, including Ahmedabad Dholera special investment region in Gujarat, are being implemented under the Delhi-Mumbai Industrial Corridor project, Parliament was informed. A total of Rs 12.3 billion has been transferred to the coal bearing states including Jharkhand and Odisha on account of upfront payment for coal blocks that were auctioned and allotted. Government expressed hope that Real Estate Regulatory Bill could be discussed and approved in the ongoing budget session of Parliament. Defence Minister said the government is "actively considering" a separate set up for defence acquisition.
TOP CORPORATE NEWS Reliance Industries said that Reliance Jio will be ready to commercially launch its much talked about 4G telecom services in second half of 2016, offering 80% of Indians highspeed mobile internet as well as voice services. Buoyed by a big ticket deal at its office complex at BKC in Mumbai, realty firm Godrej Properties is targeting a sales revenue of about Rs 15 billion this year through monetisation of its commercial assets in Mumbai, Kolkata and Chandigarh. Lupin Ltd. and Gavis Pharmaceuticals LLC, whose $ 850 million acquisition the Indian firm announced last year, have agreed to divest two generic drugs as part of the US Federal Trace Commission requirement to complete the transaction. The Centre's green panel has given a clearance to the ONGC Ltd. for its Rs 17.5 billion project involving drilling of 406 development wells in oil fields in Gujarat's Cambay Basin. Aditya Birla Nuvo announced that the Company jointly with Idea Cellular has incorporated a new subsidiary for the purpose of setting up a payments bank in the name and style of 'ADITYA BIRLA IDEA PAYMENTS BANK wherein the Company will be holding upto 51% shares and balance 49% shares shall be held by Idea Cellular, a Joint Venture of the Company. Havells India Ltd. plans to set up a new manufacturing unit on the outskirts of Bengaluru at an investment of INR 1,059 crore, Chairman Anil Gupta has Said. PVR Ltd. on Friday announced a tie-up with New Delhi-based Ozone Networks Ltd, a Wi-Fi service provider,to offer free Wi-Fi at PVR properties. Aurobindo Pharma Ltd will expand its operations in newer markets in the European Union. The Government of India is set to sell its 5% stake in NTPC LTD. through the Offer for Sale route, government officials said. Maruti Suzuki India maintained its leadership position in the domestic passenger vehicle market with six of its models featuring in the top 10 brands in January. Reliance Communications has received approval from fair trade regulator Competition Commission of India to acquire Russian conglomerate Sistema's Indian telecom unit, Sistema Shyam Teleservices Ltd. Rajesh Exports Ltd. Said it has won Rs. 8.4 billion export order from the UAE. BHEL is poised to seal a contract to build a US$ 1.6 billion power plant in Bangladesh, beating out a Chinese competitor in the latest commercial tussle between the region's two dominant powers. Engineering and construction major Punj Lloyd Ltd has bagged Rs 308 crore order for construction of luxury villas in Dubai, the UAE. Iron ore mine allotted to Tata Steel by Chhattisgarh Government in Dantewada district stands cancelled, as the company failed to complete the work within the stipulated Period.
Piramal Enterprises Ltd. said it is looking to raise up to Rs 10 billion through issuance of non-convertible debentures on private placement basis. Eicher Motors’ Royal Enfield announced launch of its first retail operations in Thailand. Lupin Ltd. is setting up a new plant in
Japan and investing Rs 1billion in a
manufacturing facility in India which will cater to the Japanese market.
TOP BANKING AND FINANCIAL NEWS OF THE WEEK With its larger peers busy in cleaning up their balance sheets, Federal Bank is looking at it as an opportunity to grow business and expects 15-20% credit growth in the next financial year, Federal Bank MD and CEO told.
At Rs 4 lakh crore, bad loans exceed market value of PSU banks For every Rs 100 parked in shares of public sector banks, investors carry the burden of Rs 150 as bad loans, which have cumulatively ballooned to Rs 4 lakh crore or 1.5 times the market value of these lenders. The Public Investment Board has approved the Rs 800-crore proposal from India Post for setting up a payments bank and it will be placed before the Cabinet within a month for final approval. PIB,under the Finance Ministry, whets the investment proposals by state-run entities. IDBI Bank Ltd. received Sebi's approval to raise Rs 37.7 billion through issuance of shares to qualified institutional players. Chunky loans from large public sector unit banks have driven the surge in nonperforming assets in banking. Ten PSU banks with NPAs over 8 per cent each account for over half the total bad loans in the banking industry . Kotak Mahindra Bank’s acquisition of 19.9% stake in Airtel M Commerce to drive expansion After having gained national footprint post its acquisition of ING Vysya Bank towards the end of 2014, Kotak Mahindra Bank has now set its eyes on grabbing a large pie of the payments bank business. India's leading private lender Yes Bank Ltd. has received the inaugural Green Bond Pioneer Award in UK in ceremony here, it was announced Tuesday. State Bank of India's Rs. 11,700 crore worth loans have been locked up as nonperforming assets as nearly 1,160 defaulters have willfully decided not to repay, according to data.
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