TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 7664.35/16145.85. According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 7648 will be small support for Nifty futures and 16031will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 7564 level and Bank Nifty futures can touch 15745 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 7732 for Nifty futures and 16317 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 7950 and 17043 for Bank Nifty futures.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
R2 8202
R1 7866
PP 7698
S1 7531
S2 7195
WEEKLY
R2 9096
R1 8224
PP 7788
S1 7352
S2 6479
MONTHLY
R2 9149
R1 8307
PP 7845
S1 7272
S2 6293
DAILY
R2 17902
R1 16757
PP 16184
S1 15611
S2 14466
WEEKLY
R2 21036
R1 18010
PP 16497
S1 14984
S2 11958
MONTHLY
R2 21132
R1 18179
PP 16532
S1 14768
S2 11712
BANK NIFTY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
8170
8355
8311
8453
BANK NIFTY
17723
18300
18175
18553
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
8114
8660
890
BANK NIFTY
18366
19252
20750
NSE EQUITY DAILY LEVELS COMPANY NAME
R3
R2
R1
PP
S1
S2
S3
ACC
EQ
1489
1423
1382
1357
1316
1292
1228
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 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 EQ
85 230 873 512 2311 191 142 218 369 725 366 134 4443 316 3571 1004 1210 1046 2424 81 866 280 330 885 1171 916 666 1628 1197 42185 4258 249 139 63 357 885 361 41 242 104 941 352 65 245 172
81 221 741 491 2259 181 135 212 358 691 355 125 4628 301 3471 975 1177 1020 2359 78 848 269 323 859 1127 868 637 1584 1156 40584 4170 238 132 61 337 861 344 38 234 99 904 338 61 233 164
78 216 727 479 2231 177 132 209 354 670 351 120 4161 290 3419 958 1159 1008 2324 76 839 263 319 850 1100 843 621 1559 1131 39517 4112 232 128 59 330 848 332 37 229 96 880 330 58 226 160
77 213 809 471 2207 171 129 206 348 658 344 116 4093 285 3371 947 1145 994 2295 74 831 259 317 833 1083 819 608 1539 1116 38983 4081 226 125 58 317 836 326 36 226 94 866 323 57 221 156
74 211 795 458 2180 167 125 203 343 637 341 111 3986 275 3319 930 1127 982 2260 72 821 253 312 824 1056 795 592 1514 1090 37916 4024 220 121 56 310 823 315 34 222 91 843 315 55 214 152
72 206 777 450 2155 161 122 200 337 625 334 106 3918 269 3271 919 1113 968 2230 71 813 248 310 807 1039 771 578 1494 1075 37382 3993 215 118 55 297 812 308 33 219 89 829 308 53 209 148
67 196 731 427 2087 152 116 195 326 597 324 97 3832 254 3189 895 1083 944 2179 68 798 239 304 783 1002 739 559 1457 1042 37112 3922 209 111 54 281 796 296 31 213 86 793 292 49 196 142
SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK
TOP 15 ACHIEVERS PREV CLOSE
CMP
UNITED NILGIRI TEA ALPHA GEO
251.90 298.75
353.95 390
DINDAL DRILLING SUN TV
117.95 325.65
147.55 390.20
TVS ELECTRONICS ESSSAR OIL
95.55 161.85
113.10 191.50
326.65 247.65
385.65 283.50
CAIRN INDIA ESCORT LTD
129.75 144.60
146.80 163.50
BALRAMPUR CHINI RCOM LTD
39.80 52.30
44.95 58.55
CENTRAL BANK RELCAPITAL
63.85 294.50
69.95 321.85
VEDANTA
85.55
93.25
SR.NO
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
SCRIPT NAME
PC JEWELLER UNICHEM LABS
// % CHANGE
SR.NO
+40.51
1
+30.54
2
+25.10
3
+19.82
4
+18.37
5
+18.32
6
+18.06
7
+14.45
8
+13.14
9
+13.07
10
+12.94
11
+11.95
12
+9.55
13
+9.29
14
+9.00
15
TOP 15 LOOSERS SCRIPT NAME
GLENMARK PHARMA BHEL
PREV CLOSE
1197 240.15
CMP
1026 206.20
% CHANGE
-14.27 -14.14
FINANCIAL TECH. AMARA RAJA BATT.
116.20 1056.90
100.10 948
-13.86 -10.30
CENTURY PLY BHARAT RASAYAN
156.65 987.85
140.85 894.20
-10.09 -9.48
ALSTOM INDIA CESC LTD
685.65 537.45
622.10 489.55
-9.27 -8.91
CENTURY TEXTILES MAHI. & MAHI.
552.05 1215.50
503.75 -8.75 1110.60 -8.63
SBI PUN, NATIONAL BANK
245.70 142.40
225.15 130.75
-8.36 -8.18
CANARA BANK UNION BANK
278.60 170.15
256.65 156.85
-7.87 -7.82
ALLAHABAD BANK
82.95
76.50
-7.78
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION )
1.
ZEEL FUTURE : - ZEEL FUTURE OPEN AT 371.95 AND CLOSE AT 363 MADE HIGH OF 374.85 AND LOW 361.20. TODAY’S MOVEMENT OF ZEEL IS IN BEARISH TREND IN CONTINUE IN BEARISH TREND BELOW ITS LOW OF 361.20 WE CAN MADE POSTION BELOW THIS LEVEL IF NIFTY MOVEMENT IS IN DOWNTREND.
2.
SBIN FUTURE - SBIN OPEN AT 231.95 CLOSE AT 224.90 AND MADE HIGH OF 232.35 AND LOW OF 224.10 . 224 IS STRONG SUPPORT LEVEL.IT CONTINUE IN BEARISH TREND BELOW 224 LEVEL IF BANK NIFTY MOVEMENT IS IN BEARISH TREND.
3.
RECLTD FUTURE - RECLTD OPEN AT 248.20 AND CLOSE AT 235.60 MADE LOW OF 234.05 AND HIGH OF 249.15.TODAYS RECLTD MOVMENT IS IN BEARISH TREND.DAILY MOVEMNT OF RECLTD IS ALSO IS IN BEARISH TREND.IT CONTINUE IN ITS BEARISH TREND BELOW THE LEVEL OF 234 WE CAN MADE SHORT POSTION FOR THE WEEK IF NIFTY MOVEMENT IS IN BEARISH TREND.
4.
ASHOKLEYLAND - ASHOKLEYLAND OPEN AT 89 AND CLOSE AT 85.25 MADE LOW OF 84.25 AND HIGH OF 89.05.TODAYS MOVEMENT OF ASHOKLEYLAND IS IN DOWNTREND OVERALL WEEKLY MOVEMNT OF ASHOKLEYLAND IS IN BEARISH MOVEMNET IT CONTINUE IN BEARISH TREND BELOW THE LEVEL OF 84 WE CAN MADE SHORT POSTION IN IT IF NIFTY MOVEMNET IS IN BEARSIH TREND.
5.
ACC FUTURE - ACC OPEN AT 1408.40 AND CLOSE AT 1351.10 MADE LOW OF 1336.05 AND HIGH OF 1408.40 TODAY’S MOVEMNT OF ACC IS IN BEARISH TREND.OVERALL DAILY MOVEMENT OF ACC IS IN BEARISH MOVEMNT IT CONTINUE IN BEARISH TREND BELOW THE LEVEL OF 1336 WE CAN MADE SHORT POSTION BELOW THIS LEVEL IF NIFTY MOVEMNET IS IN DOWNTREND,
6.
AMBUJACEM - ON DAILY CHART IF AMBUJACEM BREAKS THE SUPPORT OF 210/208 TGEN IT MAY CORRECT UPTO 203/200.
7.
ALBK - IF ALBK BREAKS 75 LEVEL ON DAILY CHARTS THEN IT MAY CORRECT UPTO 72 THIS WEEK.
8.
PNB - IF PNB BREAKS THE 133 LEVEL ON DAILY CHART THEN IT CAN SHOW UPWARD MOMENTUM UPTO THE LEVELS OF 137/141.
9.
DELTACORP - IF DELTACORP BREAKS 74 LEVEL ON DAILY CHART THEN IT MAY CORRECT UPTO 70 THIS WEEK.
10. CAIRN - CAIRN CAN SHOW UPWARD MOMENTUM UPTO 153/157 IF IT CLOSES ABOVE 148/150 LEVEL ON DAILY CHARTS.
CURRENCY MARKET EURINR
R2
R1
PP
S1
S2
DAILY
76.10
74.85
74.25
73.60
72.40
WEEKLY
R2 79.55
R1 76.25
PP 74.60
S1 72.90
S2 69.60
MONTHLY
R2 79.55
R1 76.25
PP 74.60
S1 72.90
S2 69.60
JPYINR
R2
R1
PP
S1
S2
DAILY
57.85
56.55
55.90
55.25
53.90
WEEKLY
R2 59.40
R1 56.90
PP 55.70
S1 54.45
S2 52.00
MONTHLY
R2 59.40
R1 56.90
PP 55.70
S1 54.45
S2 52.00
USDINR
R2
R1
PP
S1
S2
DAILY
67.80
67.05
66.65
66.30
65.50
WEEKLY
R2 68.00
R1 67.10
PP 66.70
S1 66.25
S2 65.40
MONTHLY
R2 68.00
R1 67.10
PP 66.70
S1 66.25
S2 65.40
GBPINR
R2
R1
PP
S1
S2
DAILY
103.35
102.15
101.55
100.95
99.75
WEEKLY
R2 107.45
R1 103.80
PP 101.95
S1 100.15
S2 96.50
MONTHLY
R2 107.45
R1 103.80
PP 101.95
S1 100.15
S2 96.50
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ GE, Alstom eye Bihar railway loco projects: Report - Two global majors – GE and Alstom – have reportedly emerged as winners in the race to set up two manufacturing units for diesel and electric railway locomotives, respectively in Bihar. The two manufacturing units for railway locomotives will attract an investment of Rs 42,000 crore in the state. The projects have been delayed by ~10 years now, but the Railway is confident of awarding them by the end of September, a senior Railway Board executive has told a financial newspaper. The projects were first announced in 2006 by the then Railway Minister Lalu Prasad Yadav. The two projects are being set up under the public-private partnership (PPP) model with the Railways owning 26% stake and the private developer controlling the balance 76%. Meanwhile, media reports indicate that GE Chairman Jeffrey Immelt is likely to meet Prime Minister Narendra Modi and announce a plan to manufacture locally during his upcoming two-day India visit. ✍ Bharti Airtel selects Ericsson to expand 3G Network in India - Bharti Airtel, India’s leading telecom services provider has further strengthened its partnership with Ericsson by signing a four-year agreement to expand 3G WCDMA network across eight telecom circles in India. The new agreement includes rollout of 3G services in both UMTS 2100 MHZ and UMTS 900MHz band. As part of the contract, Ericsson will supply, install and perform manage services for WCDMA Radio Access Networks . Ericsson will provide its multi-standard radio equipment from the Ericsson RBS 6000 base station family for macro and small cells. This will enable energy-efficient and cost-effective operations while allowing the operator to meet growing demands of better and faster mobile internet connectivity for the end-users. Abhay Savargaonkar, CTO Bharti Airtel says: “With the growing number of smartphones, our customers are increasingly demanding ubiquitous network performance and superior user experience. This investment in 3G network is in line with Airtel’s constant focus on building a world-class, next-generation smartphone network for its customers. Refarming of 900MHz spectrum in 3 circles to 3G is aimed at providing additional capacity and better indoor coverage. By partnering with Ericsson, we look forward to leveraging Ericsson’s experience to address the growing demands of our 3G subscribers, providing them with high-quality data experience at all times”. Paolo Colella, Head of Region India, Ericsson says: “Consumers in India are rapidly embracing
smartphones and mobile internet as a source of information and entertainment. By expanding Bharti Airtel’s 3G WCDMA network, we will help them address the growing demand for superior data services in India.” As per the India appendix of the Ericsson Mobility Report released in June 2015, WCDMA/HSPA subscriptions are expected to increase from over 120 million in 2014 to around 620 million by 2020, as the proportion of WCDMA /HSPA subscriptions in the total subscription base increases from 13 per cent to 45 per cent .The total number of mobile subscriptions in India is expected to increase to approximately 1.4 Billion by 2020, resulting in a population penetration of 100 per cent. ✍ IRB Infra arm inks pact with NHAI for Rs. 2,650 crore road project - IRB Infrastructure Developers Ltd has announced that AE Tollway Private Limited - Wholly-owned Subsidiary of the Company, has now executed Concession Agreement with NHAI for the project of Six Laning of Agra-Etawah Bypass section of NH-2 (from km 199.660 to km 323.525) in the State of Uttar Pradesh under NHDP Phase-V on BOT (Toll) mode. Key highlights of the Project are as under: The Project is on DBFOT Pattern The estimated project cost of the company is approximately Rs. 2,650 crores The concession period of the project is 24 years Construction period is 910 days. The Company will get tolling rights on Agra - Etawah Bypass section of NH-2 from the Appointed Date The Company has offered premium of Rs. 81 Crores to NHAI, which will increase by 5% YoY. With this Project, IRB has expanded its base in 8th state viz. Uttar Pradesh. ✍ UTI Mutual Fund launches FTIF Series XXIII-I - UTI MF has introduced the UTI FTIF Series XXIII-I, a close ended income scheme. The NFO opens for subscription on September 03, 2015 and closes on September 10, 2015. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000. The scheme’s main investment objective is to generate returns by investing in portfolio of fixed income securities maturing on or before the date of maturity of the scheme. ✍ Sun Pharma clarifies on drug recall - The Exchange had sought clarification from Sun Pharmaceutical Industries Ltd with respect to news article appearing in Mint on August 31, 2015 titled "Sun, Wockhardt recall drugs from US" Sun Pharmaceutical Industries Ltd clarified
that it is the voluntary recall initiated by our Company for certain stated medicines. We further state that it has no/would have no material impact on Company's performance, operations or revenues. ✍ HCL signs 3-yr deal with Manchester United - The tech operations of HCL Technologies will now be handled at football club Manchester United since the company has secured a three-year contract which will enable Indian IT company create an innovation lab at Old Trafford. Manchester United and HCL Technologies will both invest in the deal, details of which weren't disclosed, as per the report. The deal has been pegged at $30 million as per the report. HCL Technologies is the first Indian company to sign up with a sporting franchise as of now, stated the report. “We have 659 million fans, and we interact with 100 million of them digitally. I think that ManU is unique in that scale, not to sound immodest," Richard Arnold, group managing director of Manchester United said in an interview to ET. "So we required an industrial-level solution (and) that is what we found HCL could bring.” The lab would showcase innovation in digital technology and create a platform to interact with fans. The partnership is mutually beneficial for Manchester United and all forward-looking companies, said the company’s chief executive officer Anant Gupta, as mentioned in the report. Besides providing a platform for HCL Technologies, the data and insights which the company will receive via the partnership could be used to leverage for the firms’ other clients, as per Krishnan Chatterjee, senior vice president, HCL Technologies. ✍ TCS gains after board approves merger with CM - Shares of TCS Ltd were trading higher 2.6% at Rs. 1,712 on BSE today. According to media reports, Bombay HC approved merger with CMC. On Tuesday, the IT Company announced the inauguration of a Japan-centric Delivery Center (JDC), located within TCS Sahyadri Park in Pune. The stock opened at Rs. 2,560 as against the previous close of Rs. 2,539 on BSE. It has hit a high of Rs. 2,619 and a low of Rs. 2,547 on BSE today. Total traded quantity on the counter stood at over 0.33 lk shares on BSE. ✍ Godrej Properties climbs 2% on project launch - Shares of Godrej Properties Ltd ended 2% higher to Rs. 299 after the company announced the launch of its residential township project, Godrej Prana, in Pune. Spread across 31 acres, the first phase of the project comprises of a total saleable area of approximately 65,000 sq. mt. This project is strategically located in Undri and offers excellent connectivity to Pune railway station, Nagar road, Pune-Kolhapur Highway, IT hubs and the city center. It is in close proximity to major urban areas like NIBM, Hadapsar and M.G. Road. The stock hit a high of Rs.300 and a low of Rs.295 on BSE today. Total traded
quantity on the counter stood at over 0.30 lk shares on BSE. ✍ Telangana to spend Rs. 81,000 cr on irrigation projects - Telangana government said on Wednesday that it will spend Rs. 81,000 crore in the next three years to complete pending irrigation projects and take up two new projects to lift water from the Godavari and Krishna rivers. “We have completed the process of redesigning of all existing projects irrigation in Telangana, to benefit the state as much as possible,” Telangana chief minister K. Chandrasekhar Rao said. Rao said that his government will come out with a new irrigation policy in the coming days. He also announced an allocation of Rs. 3,900 crore to build 60,000 housing units for people living below the poverty line. The Telangana government added that it will allocate Rs. 2,631 crore to the Greater Hyderabad Municipal Corporation to build multi-level flyovers to ease the traffic problem of Hyderabad city. ✍ ICICI Prudential MF launches Fixed Maturity Plan-Series 77-1144 Days Plan T - ICICI Prudential Mutual Fund has introduced the ICICI Prudential Fixed Maturity Plan-Series 77-1144 Days Plan T, a close ended income scheme. The NFO opens for subscription on September 01, 2015 and closes on September 07, 2015. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000. The scheme’s performance will be benchmarked against CRISIL Composite Bond Fund Index and its fund managers are Rahul Goswami and Rohan Maru. The scheme’s main investment objective is to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the Scheme. ✍ Tata Motors sales for August 2015 at 40,680 units - Tata Motors continued to witness strong year-on-year growth in certain key segments in August 2015, with passenger cars, M&HCV and Exports, growing by 19%, 31% and 16%, respectively.Total sale of Tata Motors passenger and commercial vehicles were flat at 40,680 vehicles sold in August 2015, over 40,883 vehicles sold in August 2014. The domestic sale of Tata commercial and passenger vehicles for August 2015 were at 35,478 nos., a decline of 3% over 36,403 vehicles sold in August 2014. Cumulative sales for the fiscal at 1,97,344 nos., higher by 4% over 1,90,516 vehicles, sold last year. ✍ Passenger Vehicles - In August 2015, Tata Motors passenger vehicles recorded a year-on-year growth of 2%, with sales of 11,194 nos., compared to 10,975 nos.The growth trend was driven by the cars segment, specifically the new launches. The sale of the passenger cars in August 2015 were higher by 19% at 9,814 nos., compared to 8,229 nos.,in August 2014.
UV sales declined by 50% at 1,380 nos., in August 2015. Cumulative sales of all passenger vehicles in the domestic market for the fiscal are 53,232 nos.,higher by 19% over last year. ✍ Commercial Vehicles - In commercial vehicles, M&HCV sales continued to grow at 12,017 nos., higher by 31%, over August 2014. The Light & Small Commercial Vehicle sales however continued to reflect industry decline and were at 12,267 nos., a decline of 25% over August 2014. These impacted the overall commercial vehicles sales for Tata Motors in the domestic market, that were at 24,284 nos. in August 2015, a decline of 4% over August 2014. ✍ Vascon Engineers raises Rs. 100 crore via rights Issue - Real estate developer and engineering firm Vascon Engineers is reportedly planning to raise Rs. 200 crore through rights issue and sale of non-core assets to cut down on its debt burden. The rights issue was subscribed over 130%. The promoters of the company infused Rs. 60 crores through this issue. ✍ Honda Cars registers monthly domestic sales of 15,655 units - Honda Cars India Ltd., leading manufacturer of premium cars in India, registered monthly domestic sales of 15,655 units in August 2015 against 16,758 units in the corresponding month last year. The company registered a cumulative domestic sales of 78,708 units in the period April-August 2015 against 73,185 units for the corresponding period last year marking a growth of 7.5%. HCIL also exported a total of 585 units during August 2015. Honda Cars India Ltd., leading manufacturer of passenger cars in India was established in December 1995 with a commitment to provide Honda’s latest passenger car models and technologies, to the Indian customers. HCIL has two state-of-the-art manufacturing facilities at Greater Noida, U.P and Tapukara, Distt. Alwar, Rajasthan. ✍ Telephone subscribers reach 100.69 crore in June 2015 - The total telephone subscribers in the country have reached 100.69 crore (1006.96 million) at the end of June, according to the TRAI press release published today. The wireless subscribers have increased by 5.02 million to 980.81 million while wireline subscribers have declined by 0.12 million to 26.15 million. The number of telephone subscribers in India increased from 1,002.05 million at the end of May-15 to 1,006.96 million at the end of Jun-15.As on 30th June, 2015, the private access service providers held 91.75% market share of the wireless subscribers whereas BSNL and MTNL, the two PSUs access service providers, held only 8.25% market share. In the month of June, 2015, 3.68 million subscribers submitted their requests for Mobile Number Portability. With this, the cumulative MNP requests increased from 160.25 million at the end of May, 2015 to 163.93 million at the end of June, 2015. Number of active wireless subscribers in June, 2015 was
881.09 million. At the end of June, the wireless base of Airtel stood at 23.06 crore, Vodafone at 18.53 crore, Idea at 16.20 crore, Reliance at 10.99 crore, Tata at 6.15 crore, Aircel at 8.30 crore, Uninor at 4.81 crore, Sistema Shyam Teleservices at 86.96 lakh and Videocon at 76.10 lakh.West Bengal service area recorded the highest growth rate in wireless subscribers during the month of Jun-15, whereas U.P.(E), J&K and Tamilnadu service areas showed decline in subscriber base during the month. ✍ Punj Lloyd plans to expand defence facility: Atul Punj - Punj Lloyd is planning to expand Gwalior facility, according to reports. "We will be adding on new facilities in other states as well. Rajasthan, Karnataka, Andhra Pradesh are the options," Punj Lloyd Group Chairman Atul Punj said. Report says that the group is also planning to investment in the range of up to Rs 2,000 crore depending on the opportunity. DoubleLine Capital launches commodity mutual fund
-
DoubleLine
Capital,
the
investment firm overseen by Jeffrey Gundlach, introduced a new mutual fund to provide investors exposure to commodities markets and help them diversify. The DoubleLine Strategic Commodity fund proposed to seek long-term total return through short and long exposures to commodity-related investments, including through the use of derivatives and leverage. Jeffrey Sherman, portfolio manager said, "A broad mix of commodities historically has shown low correlations to stocks, bonds and cash. So commodities can diversify a portfolio invested in traditional asset classes." He also added that in addition, commodities can serve as a hedge against unexpected inflation. The fund includes two share classes; Class I shares will have a minimum $100,000 initial investment for regular accounts and a 1.11% expense ratio, while Class N shares will have a minimum $2,000 initial investment and a 1.36% ratio, after fee waivers or expense reimbursements. ✍ Mahindra Tractors sells 10,751 units in India during August 2015 - Mahindra & Mahindra Ltd.’s Farm Equipment Sector , a part of the USD 16.9 billion Mahindra Group, today announced its sales numbers for August 2015. Domestic sales in August 2015 stood at 10,751 units, as against 13,733 units during August 2014. Total tractor sales during August 2015 stood at 11,699 units, as against 15,006 units for the same period last year. Exports for the month stood at 948 units. Commenting on the month’s performance, Rajesh Jejurikar, President & Chief Executive - Farm Equipment and Two Wheeler Division, Mahindra & Mahindra Ltd. said, “We sold 10,751 tractors in the domestic market during August 2015. While monsoon has reported 12% deficient so far, we are hopeful that improved rainfall in the remaining period would infuse positive sentiment for the coming season. In export markets, we sold 948 tractors.”
� FII selling in August hits record at US$2.5bn - The month of August saw record high selling of Indian equities by the FIIs, as mounting concerns over China prompted overseas investors to reduce exposure to risky Emerging Markets, including India. FIIs sold Indian shares worth Rs. 168.77bn in August, more than the previous monthly record of Rs. 153.47bn in October 2008, according to data from National Securities Depository Limited.Despite heavy selling in August, FIIs remain net buyers in Indian shares at Rs. 275.2bn so far this year.
Top Economy news Indian companies have raised over Rs8bn through retail issuance of non-convertible debentures so far in the current fiscal, down 80 per cent from a year ago. In comparison, Rs.40bn was mobilized through 11 such issuance in the year-ago period, latest data from SEBI showed. Non-food credit of scheduled commercial banks decelerated to 8.4% in July as against a growth of 12.6% in the same period last year, RBI data showed. The railways have finally identified the projects that will be funded by the Rs 1.5 tn loan that Life Insurance Corporation has extended to the cash-strapped organization for the next five years. The number of Internet users in India rose 32% last year, to reach 302 mn, according to the Internet and Mobile Association of India, which includes members such as Google, Microsoft, eBay, IBM, Flipkart, Ola Cabs and LinkedIn. To take ahead the 'Make in India' campaign, a new Automotive Mission Plan 2026 has been decided by the automative industry and the government. Creating a strong rock for the automobile industry for next decades SIAM and government, plans to keep it along with global standards rising n value to over 12 percent of India’s GDP and generating an additional 65 million jobs. Expressing concerns over the outflow of funds from developing countries, including India, through money laundering and other ways, Minister of State for Finance Jayant Sinha today said as much as USD 300-600 billion moves out through such channels.
About 30-40 lakh tonnes of onions get wasted every year due to inadequate storage facilities in the country, a senior Commerce Ministry official today said while pitching for private investments in such units. As a nationwide strike of trade unions hit banking and other services today, business chambers today pegged the loss to the economy at a staggering Rs 25,000 crore and said such "disruptive" actions can hit India's image as an attractive business destination. The Indian economy is clearly recovering -- not slowing down -- and is on course to record close to 8 per cent growth this fiscal, Arvind Subramanian, Chief Economic Advisor in the Finance Ministry, has said. A cyclical recovery is under way for the Indian economy, and the country’s GDP growth is expected to improve to 7.8 per cent this fiscal from 7.3 per cent in 2014-15, a Nomura report says. India ranks among the top five sovereign debt issuers from the emerging economies after China, said Moody’s Investors Service. “The top five largest sovereign EM debt issuers, as of end-2014, were China (with USD 3.5 trillion total sovereign debt outstanding), India (USD 1.3 trillion), Brazil (USD 1.2 trillion), Mexico (USD 387.5 billion) and Turkey (USD 265.5 billion),” it said in a report. The food safety regulator, FSSAI, has done away with process of product approvals in line with a recent Supreme Court order and now plans to reintroduce the procedure through regulations.
Petroleum Minister Dharmendra Pradhan said the government would soon finalise a formula to calculate premium on gas pricing for difficult blocks. India's dependence on imports to meet its oil needs is expected to touch 90% in next two decades and the country needs to diversify its energy basket through use of alternative fuels, an India Tech-PwC report has said. The roads, transport and highway ministry has fasttracked a Rs 51bn project to build 225
over-bridges on major railway level crossings, which account for 40% of all train accidents and 66% of fatalities. Indian economy grew at 7% in the first quarter of FY16, well below 7.5% growth recorded in the previous quarter and consensus estimate of 7.4%. The data shows growth was pulled down by agriculture, moderate rise in electricity generation, and lower government spending. Marking first major FDI offer in the railways, three global companies have submitted financial bids for setting up of a modern electrical locomotive factory in Madhepura in Bihar at the cost of nearly Rs 13bn. The Punjab government said it has received bids from as many as 18 companies for setting up solar projects in the state which will attract investment of Rs 35bn. The government is in the process of framing regulations for exploration and mining in offshore blocks, which contain minerals such as zirconium, titanium, thorium, tungsten and rare earth elements.
Marking a key step in the NDA government's infrastructure push, Minister of Urban Development Venkaiah Naidu announced the list of ninety eight smart cities that the government has shortlisted. While Uttar Pradesh has bagged the maximum number of smart cities projects at 13, Tamil Nadu has got 12 and Maharashtra 10. Madhya Pradesh will have seven smart cities and Gujarat and Karnataka will have six each.
The talks between the five-member Ministerial panel, headed by Finance Minister Arun Jaitley, and leaders of central trade unions, remained inconclusive with the unions firm on their decision on a country-wide strike on September 2. Trade unions, which are protesting anti-labour changes in certain key laws, against disinvestment in PSUs and FDI in Railways, Defence, contractorisation of labour, among other things
Top Corporate News Singapore wealth fund GIC will invest about Rs 19.9bn in a new joint venture with real estate developer DLF that will build two projects in the Indian capital New Delhi, the two firms said
in a joint statement. The day-long nationwide strike called by 10 central trade unions crippled iron ore production of state-owned NMDC by nearly 75,000 tonnes across all its mines, a senior official of the PSU said. The government will auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms including pricing and marketing freedom. HCL Technologies has won a contract to transform the operations of UK football club Manchester United, a deal that will see the Indian IT player create an innovation lab in the iconic Old Trafford Stadium. Mahindra & Mahindra is working to expand presence of Peugeot Motocycles, in which it had acquired a majority stake, beyond Europe by entering markets like North Africa and Vietnam. Ratings agency Fitch has downgraded viability rating of state-owned Punjab National Bank by a notch while affirming ratings on nine other banks, including SBI and ICICI Bank. Larsen & Toubro has bagged an order worth Rs 10.7bn to build tracks for the Riyadh metro project in Saudi Arabia, the engineering major said. Inox Wind said it has bagged an order for a 100 MW wind power project at Lahori in Madhya Pradesh from Ostro Energy. Maruti Suzuki launched its first hybrid vehicle by upgrading the diesel Ciaz with hybrid features at a price cheaper by up to Rs 20,500 than the existing diesel variant that is being phased out. Welspun Corp said its shareholders have approved borrowing up to Rs 5bn through issuance of securities. Reliance Communications said it is in talks with several state governments to bag smart grid and smart city projects as it sees business from cloud offerings and internet of things under enterprise segment to touch about a fifth of its revenue in next five years. The company has tied
up with US-based Jasper, which provides software for connected machines, IoT though the network of 120 telecom operators globally, to offer its services in India. Aurobindo Pharma Limited announced that the company has received the final approval from the US Food & Drug Administration to manufacture and market Entecavir Tablets, 0.5mg and 1mg. Sun Pharmaceuticals has completed the acquisition of GSK's opiates manufacturing facilities in Australia. Drug firm Lupin has received approval from US health regulator USFDA to market generic Omeprazole delayed-release capsules (40mg), used to treat ulcer, in the American market. The drug is also used for healing of erosive esophagitis and pathological hypersecretory conditions. Auto components maker Bosch inaugurated its new manufacturing plant at Bidadi, near Bangalore, which has come up at an investment of Rs3.4bn. The plant, which has come up on an area of 38,000 sqm, would manufacture products for the diesel systems division. Vedanta said that collapse in aluminium prices and lack of availability of bauxite from Odisha have forced the conglomerate to opt for a gradual closure of its Lanjigarh facility in the State. Godrej Consumer Product Ltd said its shareholders have approved a proposal to raise up to Rs3bn through issue of nonconvertible debentures on private placement basis. The company has said it will raise the fund in one or more tranches during the period of one year commencing from the date of passing of this resolution by shareholders. The country’s largest mortgage lender HDFC has raised Rs20bn through the sale of bonds in order to boost lending operations and meet its future capital needs. The bonds, which have a tenure of five years, attracted a coupon rate of 8.5%. HDFC Bank is the lead arranger of the issue. Promoters of Astec Lifesciences will sell 45.29% stake in the company to Godrej Agrovet Ltd that could entail a consideration of Rs 1.7bn. Infra-sector lender IDFC Ltd said its board has approved raising of up to Rs 800bn by issuing non-convertible securities on private placement basis to expand business. Suzlon Energy is planning to invest about Rs 60bn on India’s first offshore windmill project in bay of Kutch in Gujarat. Muthoot Fincorp has floated a new company - MPG Security Group-to take its "technologically advanced security services through emergency response teams" nationwide. Bosch inaugurated its new manufacturing plant at Bidadi which has come up at an investment of Rs 3.4bn. UltraTech Cement is poised to take its capacity to 71.2mn tonne per annum by March 31 next year on the back of ongoing projects as well as recent acquisitions, Chairman Kumar Mangalam Birla said. Reliance Jio has rolled out its ‘Jionet’ high speed Wi-Fi internet service at select locations in Bhubaneswar.
Aurobindo Pharma said it has received approval from the US FDA to manufacture and market its generic version of Eli Lilly's Evista tablets used to treat and prevent osteoporosis in postmenopausal women. Sun Pharma is facing a class action suit over the closure of the unit's Caraco facility in Michigan six years ago. Vodafone India will roll out 4G services from December starting with Mumbai, Delhi, Kolkata, Bengaluru and Kochi, setting the stage for a slugfest with market leader BhartiAirteland Reliance JioInfocomm. India's second largest private sector lender, HDFC Bank reduced its base rate or the minimum lending rate by 35 basis points to 9.35% effective from Tuesday. The government has permitted Reliance Industries to sell up to 120k tonnes of LPG produced at its plants to private cooking gas marketers. Diversified group Punj Lloyd said it has won a Rs 11bn turnkey contract from Indian Oil Corporation Ltd for work related to its Haldia Refinery. State Bank of India expects its accounts under the Jan Dhan scheme to break even next year given the healthy growth in average deposits in these accounts, while total deposits have more than doubled to Rs 51bn as of June-end. In a bid to regain its fading glory in the utility vehicle market, Mahindra & Mahindra has lined up three models for launch over the coming festival months: TUV300, S101 and an upgraded Quanto, codenamed U215. Larsen & Toubro said it has won a turnkey order for Rs 15bn water supply project from Public Health Engineering Department, Ajmer. FMCG major ITC is set to debut its range of dairy product starting with ghee, which would be available in the market by the end of the current quarter, a top company executive said.
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