TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 8247 / 17915 According to technical analysis if Nifty futures and Bank Nifty future moves up-word in tomorrow treading session then 8332 will be small resistance for Nifty futures and at the same time 18432 will be small Resistance for Bank Nifty futures, if it break this level then then Nifty futures can touch 8484 level and Bank Nifty futures can touch 18777 level in next few days. It will be hard resistance for Nifty futures and Bank Nifty futures. Meanwhile in revers there is small support on 8133 for Nifty futures and 17217 is for Bank Nifty futures after breaking this support with volume there is big support for Nifty futures on 8020 and 16815 for Bank Nifty futures.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) PIVOT POINT NIFTY DAILY
R2 8430
R1 8292
PP 8222
S1 8153
S2 8015
WEEKLY
R2 9062
R1 8450
PP 8143
S1 7837
S2 7225
MONTHLY
R2 9763
R1 8725
PP 8206
S1 7687
S2 6649
PIVOT POINT BANK NIFTY DAILY
R2 18823
R1 18163
PP 17833
S1 17503
S2 16843
WEEKLY
R2 19823
R1 18413
PP 17708
S1 17003
S2 15593
MONTHLY
R2 22672
R1 19498
PP 17911
S1 16324
S2 13150
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY BANK NIFTY
8191 17880
8300 18069
8527 18604
8382 18018
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY BANK NIFTY
7937 17135
8630 19143
9136 20958
NSE EQUITY DAILY LEVELS COMPANY NAME
R3
R2
R1
PP
S1
S2
S3
ACC ALBK
EQ EQ
1456 95
1439 93
1429 92
1423 90
1419 89
1406 88
1389 86
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
238 768 566 2475 149 184 253 454 638 410 111 3498 418 3464 970 1291 1069 2654 128 895 315 310 859 1034 101 1462 1792 1436 34645 4094 331 186 62 371 1042 383 46 270 187 889 462 75 317 149
231 753 559 2440 145 180 247 443 622 402 109 3446 407 3424 946 1263 1048 2604 124 875 309 307 845 1016 97 1386 1757 1365 33972 4007 324 182 60 362 1019 373 45 265 181 870 449 74 311 146
229 747 556 2421 143 179 244 438 614 398 107 3413 401 3404 931 1249 1039 2577 122 866 307 306 840 1006 94 1359 1738 1335 33598 3977 322 180 59 358 1007 368 44 262 179 858 441 73 308 145
225 728 552 2406 141 176 241 432 606 394 106 3393 397 3384 922 1234 1026 2553 121 855 303 304 831 996 92 1311 1723 1294 33299 3919 318 177 58 352 995 363 43 260 174 850 436 72 306 143
222 731 549 2389 139 175 238 427 599 390 105 3360 391 3364 907 1221 1017 2527 119 846 301 303 826 988 89 1284 1704 1264 32925 3890 315 175 57 348 983 358 42 257 172 838 428 71 302 142
218 723 545 2371 137 173 235 421 591 387 104 3341 386 3344 898 1205 1004 2503 118 835 298 301 818 982 87 1235 1688 1223 32626 3831 311 172 56 343 971 353 41 255 168 831 423 70 300 140
212 708 538 2336 133 169 228 411 575 379 102 3289 375 3304 875 1177 982 2453 114 815 292 298 804 965 82 1160 1653 1152 31953 3744 304 168 55 334 947 343 40 250 162 811 410 69 294 137
SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK
TOP 15 ACHIEVERS
SR.N SCRIPT NAME PREV O CLOSE
//
TOP 15 LOOSERS
CMP
% CHANG
SR.NO
SCRIPT NAME
PREV CLOSE
CMP % CHANG
1
PETRIN ENGNEERI
234.15
278.75
+19.05
1
ESSAR OIL LTD
158
143.45
2
ESCORTS LTD
106.3
115.05
+8.23
2
JET AIRWAYS
289
273.30
3
SUN TV
309.50
333.90
3
161.75
154.75
4
ADLABS ENT.
158.60
170.80
4
FINANCIAL TECHNO. NCCD
80.35
76.90
5
M & M FIN,
247.05
263.10
5
DISH TV
109.70
105.80
6
ARTI DRUGS LTD
605.90
645.00
6
HDIL
91.60
88.45
7
APOLLO HOSPITALS
1189
1253
+5.35
7
TORRENT POWER
144.30
139.80
8
SE INVESTMENT
368.60
++5.31
8
JINDAL ST. & PWR
94
91.30
9
BAJAJ FIN.
4902.90
5158.5
+5.20
9
TATA MOTORS
445.45
433.05
10
JP ASSOCIATES
11.80
12.40
10
TEXMO RAIL
122.45
119.05
11
TATA COFFEE LTD
86.05
89.65
11
ADANI ENT.
99.65
96.90
12
M&M
1253.95
1305.55
12
J & K BANK
106.65
104.00
13
ORIENT CEMENT
165.25
171.30
13
GITANJALI GEMS
38.45
37.50
14
UCO BANK
56.15
58.15
14
300.85
293.90
15
TVS MOTORS
231.70
239.45
BAJAJ ELECTRICAL ZEEL
347
340.10
350
+7.88 +7.69 +6.50 +6.45
+5.08 +4.18 +4.11 +3.66 +3.56 +3.34
15
-9.21 -5.43 -4.33 -4.29 -3.56 3.44 -3.12 -2.87 -2.78 -2.78 -2.76 -2.48 -2.47 -2.31 -1.90
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION ) 1. ICICI BANK ( BULLISH ) - If it break level of 317 then it can touch level of 336. So we can say there is long position in SBIN with stop loss of 306. 2. ALBK ( BULLISH) - In chart it is looking good for traders. Traders can make long position above 96 for the target of 108 with stop loss of 88. 4. UNION BANK OF INDIA ( BULLISH) - UNION BANK OF INDIA seems bullish for next week. If it break level of 151 then with stop loss of 142 we can take long position for 164. 5. IDFC ( BULLISH) - It is looking strong for next week as per technical analysis. Above 156 we can make long position in IDFC for the target of 169 with stop loss of 149.
CURRENCY MARKET USDINR
R2
R1
PP
S1
S2
DAILY
64.665
64.035
63.720
63.405
62.775
WEEKLY
R2 66.449
R1 64.7492
PP 63.899
S1 63.049
S2 61.349
MONTHLY
R2 66.740
R1 64.865
PP 63.928
S1 62.990
S2 61.115
EURINR
R2
R1
PP
S1
S2
DAILY
74.174
72.789
72.096
71.404
70.019
WEEKLY
R2 75.324
R1 73.249
PP 72.211
S1 71.174
S2 69.099
MONTHLY
R2 82.167
R1 75.107
PP 71.5775
S1 68.047
S2 60.987
JPYINR
R2
R1
PP
S1
S2
DAILY
52.932
52.147
51.755
51.362
50.577
WEEKLY
R2 53.940
R1 52.550
PP 51.855
S1 51.160
S2 49.770
MONTHLY
R2 55.165
R1 528758
PP 51.730
S1 50.5858
S2 48.295
GBPINR
R2
R1
PP
S1
S2
DAILY
104.973
102.419
101.609
99.865
97.311
WEEKLY
R2 108.266
R1 103.251
PP 100.744
S1 98.236
S2 93.221
MONTHLY
R2 114.300
R1 104.760
PP 99.990
S1 95.220
S2 85.680
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ ONGC plans to invest Rs 41,678 crore - Oil and Natural Gas Corp is planning to invest Rs 41,678 crore for bringing to production newer oil and gas fields and redeveloping ageing fields, according to reports.A report said that company produced 25.94 million tonnes of crude oil and 23.52 billion cubic meters of gas in 2014-15. The company will invest Rs 24,188 crore in development of six projects both on the east and west coast and another Rs 17,490 crore will be spent on redeveloping its prime Mumbai High fields, says report.According to reports, the company will also invest Rs 6,086 crore in western offshore Daman field development to produce 27.67 billion cubic meters (bcm) of gas by 2034-35
✍ Madras High Court discards Sun TV petitions - Madras High Court has found Kalanithi Maran-owned Sun TV and Kal Comm petitions, against an Enforcement Directorate order on a money laundering charge, unmaintainable in court. The company representatives had earlier contended that Sun TV was not among the accused in the pending Supreme Court case.The alleged illegal gratification of Rs 742 crore were purchased before the ED-attached properties valued at over Rs 1,000 crore in the Aircel-Maxis case. Hence the former had no connection with the latter, they argued. The petitioners are however free to approach the Supreme Court for redressal if they are not satisfied with the High Court order. It may be recalled that the CBI had filed a charge sheet in 2011 against the Maran brothers, Malaysian businessman T. Ananthakrishnan and Maxis Communications, a company promoted by Ananthakrishnan, Sun Direct TV and Astro All Asia Networks.
✍ Ashok Leyland seeks shareholder nod for fund raising - Ashok Leyland is seeking shareholders approval to raise money through Qualified Institutional Buyers (QIBs) and other routes, according to a media reports.A report says that the proposed offering of securities by the company is for funding capital expenditure, long-term working capital requirements, investment in JVs, associate companies (including overseas companies).The company's management reportedly stated that it is planning to invest to the tune of around Rs. 250-300 crore during the current fiscal.
✍ Jet Airways stock zooms 13% - Shares of Jet Airways Ltd was higher by 13% to Rs. 286 on BSE today. The stock has hit a high of Rs. 294 and a low of Rs. 248. Jet Privilege, the award-winning frequent flyer programme of Jet Airways has entered into a reciprocal frequent flyer partnership with Vietnam Airlines.The JetPrivilege and Golden Lotus Plus frequent flyer partnership will provide enhanced connectivity for Jet Privilege Members with the opportunity to earn and redeem JPMiles across Vietnam Airlines' network on destinations like Ho Chi Minh City, Nha Trang, Phnom Penh, Hanoi via Bangkok and Singapore. Similarly members of Vietnam Airlines' Golden Lotus Plus programme can also earn and redeem their miles across Jet Airways’ network.
✍ RBI, Maldives Monetary Authority sign MoU - The Reserve Bank of India has concluded a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with Maldives Monetary Authority (MMA) on June 2, 2015.The MoU was inked by Neeza Imad, Assistant Governor-Financial Stability, Maldives Monetary Authority and SS Mundra, Deputy Governor, Reserve Bank of India. The Reserve Bank has been signing the Memorandum of Understanding/Exchange of Letters (EoL)/Statement of Co-operation (SoC) with supervisors of other countries to promote greater co-operation and sharing of supervisory information among the authorities.With this the Reserve Bank has signed 26 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation, with overseas regulators/supervisors.
✍ Nestle India dips 3% as Maggi worth Rs. 320 cr being destroyed - Shares of Nestle India were closed 3% lower at Rs. 5,783 on BSE today. According to reports, the company is in the process of destroying 'Maggi' noodles worth Rs. 320 crore following recent product ban and recall over food safety measures. "The estimated sales value of the stock in the market, including those with our trade partners is around Rs 210 crore. In addition, there was Maggi Noodles and related materials in our factories and distribution centres when the withdrawal was announced and the estimated value of these is around Rs 110 crore," the company said. The stock has hit a high of Rs. 5,900 and low of Rs. 5,750 on BSE today. The total traded quantity was 0.13 lakh shares and two-week average quantity is 0.52 lakh.
✍ Coal India Ltd is sixth-largest mining company in world - Coal India has become the sixth-largest mining company in the world in terms of market capital, according to a recent PwC report.
✍ Bharti Infratel gains on high volume - Bharti Infratel continues to trade near the highest level of the day at Rs. 462 - with a jump of almost 2 percent at Rs. 460 on the BSE, on the back of high volume.So far, the counter has seen more than 3.6-times surge in volume with trades of around 594,000 shares, as against two-week daily average volume of 162,000 shares.
✍ Indigo plans to file DRHP with SEBI on June 30 - IndiGo is planning to file the DRHP with Sebi on June 30, according to reports.The airline plans to raise up to US$400 mn (about Rs. 2,500 crore) through the IPO.A report says that the Citigroup, Kotak, Morgan Stanley, JP Morgan Chase, UBS & Barclays - have been appointed as book runners for the IPO.
✍ Biocon spurts after Syngene gets SEBI approval - Biocon is trading on a firm note in on the BSE in early morning deals, on the back of positive news flow.According to media reports, Syngene International, research arm of biotechnology major Biocon, has received capital markets regulator Sebi's approval to launch an initial public offer (IPO).The stock rallied to a
high at Rs. 460, and is now up 2 percent at Rs. 456.On the BSE, so far 34,000 shares have been traded at the counter as against the daily average volume of 76,000 shares in the past two weeks
✍ Gayatri Projects to consider preferential issue on June 16 - Gayatri Projects Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 16, 2015, to consider Preferential Issue of equity shares, subject to the shareholders and other necessary approvals and in compliance with the provisions of the Companies Act, 2013, the SEBI (ICDR) Regulations and other applicable laws / regulations.The board will consider the notice calling Extra Ordinary General Meeting.
✍ Financial Tech zooms 16% on high volume - Financial Technologies continues to trade on an upbeat note on the Bombay Stock Exchange (BSE), on the back of high volume.On the BSE, the counter has clocked volume of 515,000 shares, a 9.7-fold rise over two-week average daily volume of 53,000 shares.So far, Financial Technologies rallied to a high of Rs 163, and is now up almost 16 percent at Rs. 159. Meanwhile, the BSE Sensex has jumped 137 points at 26,823.
✍ State Bank of Bikaner to cut base rate by 15 bps from Jun 18 - Shares of State Bank of Bikaner Ltd were trading 0.51% higher at Rs. 524 on BSE today.The bank has revised the base rate from 10.10% to 9.95% with effect from 18 June 2015. The existing BPLR at 15% remains unchanged.The stock opened at Rs. 525 as against the previous close of Rs. 521.25 on BSE. It has hit a high of Rs. 528 and a low of Rs. 522 on BSE today.Total traded quantity on the counter stood at over 2,557 lk shares on BSE.
✍ SEBI issues detailed ESOP disclosure norms - The SEBI on Tuesday said the compensation committee of a company’s board should disclose the quantum of employee benefit scheme on an aggregate as well as employee count basis.Besides, the conditions under which stock options or other benefits would vest in employees or lapse in case of termination of employment for misconduct should also be clearly spelt out by the committee, said SEBI.The committee also has to consider the right of an employee to exercise all the options or SARs, either at one go or in multiple times besides making adjustments to the entitlement with regard to the number of shares and exercise price arising out of corporate actions, such as rights issues, bonus issues, merger, sale of division and the like.The adjustment in price and the number of options or shares should be such that the total value remains unaltered to the employee. SEBI mandated that the vesting period and the life of the options should be left unaltered as far as possible to protect the rights of the employees.
✍ Chambal Fert gets CCI approval for sale of textile unit - With reference to the earlier letter dated March 14, 2015 and May 01, 2015, in connection with the sale of textile business of the Company, i.e., Birla Textile Mills located in Himachal Pradesh, to Sutlej Textile & Industries Limited (“Sutlej”), Chambal Fertilisers & Chemicals Ltd has now informed BSE that in accordance with the requirement of the Competition Act, 2002, Sutlej filed a notice/
application with the Competition Commission of India (“CCI”). Sutlej has informed to the Company that CCI has vide a letter dated June 09, 2015 (received by Sutlej on June 11, 2015) communicated its approval to the proposed transaction Chambal Fertilisers is trading up by 2.91% at Rs. 60.10.On the BSE, the counter has seen trades of around 0.68 lakh as against its two-week daily average volume of 0.53 shares.
✍ RIL zooms 5% on growth plans - Reliance Industries (RIL) continued its north-bound journey on the back of renewed buying interest at the counter after the company announced its ambitious growth plans at the AGM on 12 June, 2015. Mukesh Ambani spoke about RIL's ambitious plan to invest Rs 2 lakh crore over the next 12-18 months at the 41st AGM.The company also said that it will roll out Reliance Jio (4G) services by December, with coverage of nearly 80 percent of the country's population by year-end. The stock today zoomed over 5 percent to Rs. 980.The stock hit a high of Rs. 982and low of Rs. 933 on BSE today. The total traded quantity was 14.02 lakh shares and two-week average quantity is 3.72 lakh.
✍ PNB clarifies to BSE on sale of bad loans to ARCs - The BSE (Bombay Stock Exchange) had sought clarification from Punjab National Bank with respect to news article appearing in The Financial Express on June 16, 2015 titled "PNB seeks to sell Electrotherm, Bharati Shipyard loans to ARCs."Punjab National Bank replied stating "Acceptance of deposits, disbursement of loans, settlement of NPA accounts under compromise or by sale under SARFAESI or through ARCs etc irrespective of the value, are part of normal banking activities. We are, therefore, of the opinion that the subject matter does not fall under clause 36 of the listing agreement to be reported to the stock exchanges."The bank’s exposure to Bharati Shipyard stands at Rs 482 crore and to Electrotherm at Rs 308 crore. The corporate debt restructuring (CDR) package of Bharati Shipyard and Electrotherm had failed in Q1 FY15
✍ Infosys allots bonus shares - Infosys Ltd has announced that the Board of Directors allotted 114,84,72,332 equity shares each aggregating Rs. 574,23,61,660/- issued by capitalization of general reserve / securities premium and distributed as fully paid-up bonus shares in the ratio of 1 (one) equity share for every 1 (one) equity share held to those shareholders whose names appear on the Register of Members / Register of Beneficiaries as at the closing of June 16, 2015.
✍ YES Bank cut base rate by 25 bps - YES BANK, India’s fifth largest Private sector bank, has cut its Base Rate by 25 basis points from 10.75% p.a. to 10.50% p.a. The revised rates will be effective from June 22, 2015.The reduction is a consequence of the recent term deposit rate cuts of upto 25 basis points carried out by the Bank across various tenors which were made effective from June 17, 2015.On Wednesday, HDFC Bank has cut its base rate by 15 bps to 9.7% per annum. ✍ All India one day bank strike on June 24 - Bank of Baroda has been informed by Indian Banks’ Association that the General Secretary, All India Bank Employees’ Association (AIBEA) has served a Notice of Strike dated May 29, 2015 informing their decision to go on
All India One Day strike on June 24, 2015 in support of the strike call given by State Sector Bank Employees’ Association for their demand in respect of certain industry level issues.The Bank is taking all the necessary steps in terms of the existing guidelines to deal with the strike in the event the same materializes, BoB said in a filing to BSE.
✍ Suzuki Motors signs deal with Proton - Suzuki Motor Corporation has signed a deal with Proton for the assembly and sale of an entry-level model in its domestic market, according to reports.A report says that Suzuki will supply completely knocked down (CKD) kits of cars to Proton.The company sold about 116,000 vehicles in 2014. Suzuki holds over 56% in Maruti Suzuki India.
✍ RBI to issue sovereign gold bonds - According to media reports, the RBI on behalf of the government is planning to issue sovereign gold bonds, to control trade deficit."Issuing agency will need to pay distribution costs and a sales commission to the intermediate channels, to be reimbursed by the government," the draft from the government said. "An indicative lower limit of 2 percent may be given, but the actual rate will have to be market determined," it added adding that "on maturity, the investor receives the equivalent of the face value of gold in rupee terms".The bonds would be issued in denominations of two, five and 10 grams of gold or other sizes for a minimum term of five to seven years and they can be used as collateral for loans, the reports added.
✍ JSW Steel expects steel demand to pick up in H2FY16 JSW Steel reportedly said that it is planning to increase in Import duty of steel production.The domestic steel prices go in-line With landed cost of imports, company quoted.The company is hoping steel demand picks up in H2FY16, company reportedly said.At 3:33 PM, the stock of the company is trading up 2.8% at Rs. 907.50. The stock opened at Rs. 883.45 as against the previous close of Rs. 882.45 on BSE. It has hit a high of Rs. 911 and a low of Rs. 883 on BSE today.
✍ Dr Reddy's Laboratories completes acquisition of UCB's select brands - Dr Reddy's Laboratories stated that it has completed the acquisition of select portfolio of established brands of Belgian firm UCB in India."with regard to acquisition of select portfolio of the established products business of UCB in India, Dr Reddy's Laboratories Ltd...has concluded the transaction," the company said.Earlier On April 1, the company had said that it would acquire select portfolio of established brands of UCB in India, Nepal, Sri Lanka and Maldives for Rs. 800 crore.
✍ Tata Group plans to launch hybrid online retailing venture - The Tata Group is planning to launch the country's first hybrid online retailing venture, according to reports. A report says that Group firm Tata Industrial Services, which changed its name to Tata Unistore Ltd, will
spearhead the venture.The company is in advanced talks with top brands across categories to complete the integration with their offline stores, says report.Tata Group reported, "Indeed e-commerce is of interest to the Tata Group. We will share more information at the appropriate moment."
✍ Apollo plans to sell stake in Dish TV - Private equity major, Apollo is planning to raise upto $75 mn by selling up to 4.4% of its stake in Dish TV, through a book building issue, according to reports.A report says that as per the terms of the transaction, the base offer size will be $50 mn.The price band for the offer is between Rs 102 and Rs 109.7 per share, says report. The settlement date for the offer is June 23.
TOP ECONOMY NEWS The country has received 5% more rainfall than the normal limit till now even as northwest India, the southern peninsula and central India have received below normal rainfall, according to the Met department. India has conveyed to Iran that its interest in oil and exploration projects in the Gulf nation is still alive. Commercial interaction with the Iranian authorities is independent of the decisions of the West on Iran’s disputed nuclear programme and the end-June deadline, an official involved with negotiations said. The government has proposed a stringent appraisal system at public sector banks, aiming to infuse efficiency and transparency in the state-owned banking entities after it opened the door to private sector candidates for key posts.
With the government taking steps to improve ease of doing business and attracting investments, FDI inflows into the services sector grew by over 46% to USD3.2bn in 2014-15.
The Oil Marketing Companies announced Rs0.64 per litre hike in petrol prices and a Rs1.35 per litre cut in diesel rates in order to align the domestic rates with global price benchmarks. The wholesale price index-based deflation continued for the seventh month in a row, at 2.36% in May, though the rate of decline in prices moderated from 2.65% in April, according to official data. The Department of Telecom has issued the Letter of Intent to all the telecom players that participated in the March auction and is speeding up spectrum allocation to them. Services exports fell by 4.5% to USD13bn in April 2015 as compared to the same month last year. In the backdrop of Uttar Pradesh government promising to provide 22-24 hr power supply before 2017, UP has registered maximum power shortage amongst the 12 major Indian states.
The trade deficit for May 2015 came at USD10.4bn, slightly lower than April 2015. Exports and imports continued to contract, respectively, 20.2% and 16.5%. The BJP-led government in Maharashtra, in a serious bid to compete with other investor friendly states, in its new information technology and IT Enabled Services policy has proposed waiver in stamp duty, electricity duty, octroi, entry tax and local body tax. The number of mobile subscriptions in the country is expected to increase to 1.4bn by 2020, against 970mn in 2014, driven by rise in affordable devices and services, according to a report by telecom equipment maker Ericsson. Merchandise exports in May contracted 20.2%, reaching USD22.34bn compared with USD 28bn a year ago in the same month. Exports registered a bigger fall in May as against April when it contracted 14%. The Cabinet cleared 'Housing for All by 2022' scheme with an increase in interest subvention to 6.5% on housing loans to economic weaker section. The Cabinet Committee on Economic Affairs increased the minimum support price of paddy by Rs. 50 to Rs. 1,410 per quintal for this year.
Government has increased import duty of flat and long steel products effective 16 June. Duty on flat products has been increased from existing 7.5% to 10% and on long products it was raised to 7.5% from 5.5% at present. The government has cancelled approvals of 22 special economic zones, including that of Tamil Nadu Industrial Development Corporation and True Developers, as no "satisfactory" progress was made to execute the projects The government approved Rs75.3bn projects in Maharashtra for widening of stretches of NH 6 under its flagship road building programme NHDP. Proposals for foreign direct investment amounting to around Rs40bn by four pharma and medical devices firms, including Torrent Pharmaceuticals and Biocon's research services arm Syngene, were approved by the government. Gearing up to roll out GST from April 1, 2016, the Finance Ministry set up two committees to suggest tax rates and look into IT preparedness for the new indirect tax regime.
The air traffic rose 18.35% in May on a y-o-y basis, and IndiGo retained its No. 1 position amongst domestic airlines growing its market share to 38.9%. Money held by Indians in Swiss banks fell by over 10% last year to SFR1.8bn (about Rs26bn), amid an enhanced clampdown against the famed secrecy wall of Switzerland’s banking system by Indian and other governments. Finance Minister Arun Jaitley has assured global investors that the Narendra Modi government is making all efforts to allay their concerns on the reforms process, the taxation regime and policy stability. The garment industry, which is reeling under severe cash crunch, has recovered Rs4bn in last three months from retailers who had defaulted on payment due to weak demand. Excessive heat in May and early June has hit tea consumption in western India, according to the Federation of All India Tea Traders Association
TOP CORPORATE NEWS Ashok Leyland will seek shareholders approval to raise money through Qualified Institutional Buyers and other routes. The proposed fund raising is to support the company's capex, working capital and investment in joint ventures and other purposes. Anil Agarwal-promoted Vedanta Ltd said it would merge its subsidiary Cairn India with itself for a larger natural resource play. In the all-stock deal, each Cairn India shareholder would be offered an equity share of Vedanta Ltd, besides a 7.5% redeemable preference share of Rs. 10 face value. Life Insurance Corporation, which is a minority shareholder in Cairn India with 9.06% stake, has sought higher dividend on the redeemable preference shares that the oil producer plans to offer as a part of its merger plan with parent Vedanta Ltd.
Cipla Ltd, India's fourth-largest drugmaker by sales, is planning to enter Latin America and Eastern Europe to tap into growing demand for generic drugs in emerging markets, Chief Executive Subhanu Saxena said.
Vodafone Group Plc's three Indian units raised a combined Rs 7,500 crore in a first ever rupee-bond sale. Public-sector banks have put Rs.140bn worth of non-performing assets up for sale, to ease some pressure exerted by stressed loans on their balance sheets. Delhi-based Punjab National Bank’s Rs50bn bad loans account for a large portion of the total offered for sale With the US probing TCS and Infosys for alleged visa rule violations, Communications and IT Minister Ravi Shankar Prasad said the government will intervene if the need arises.
TCS and IBM have emerged as frontrunners in the race to win Swedish truckmaker AB Volvo's IT outsourcing contract, worth about $500 mn. In an attempt to prevent the first major strike by steel workers in the UK since the 1980s, Tata Steel has approached the country’s conciliation service ACAS, which it hopes will facilitate talks between the two sides. Mahindra & Mahindra will launch a new light commercial vehicle named Jeeto by the end of June to take on homegrown rival Tata’s popular minitruck Ace Zip.
Mahindra First Choice Wheels, the multi-brand pre-owned cars division of Mahindra & Mahindra, has set a target of selling around 7,000 units of small commercial vehicles this financial year. Country’s largest power producer NTPC said it has commissioned another 200 megawatt capacity at its Koldam Hydro Power Project in Himachal Pradesh.
State-run NTPC said that it has entered into an agreement with Jammu and Kashmir State Power Development Corporation Ltd to form a joint venture company for mining at Kudanali-Luburi coal block in Odisha.
State-run power generation company NTPC will seek its board's nod on the takeover of Damodar Valley Corporation's Raghunathpur thermal power plant in West Bengal's Purulia district.
Mukesh Ambani-owned Reliance Retail is in the process of rolling out an e-commerce marketplace that will provide a platform to small retailers to sell products online.
Reliance Communications and AFK Sistema have entered into exclusive discussions on a potential merger between the Indian telecom business of Sistema Shyam TeleServices and Reliance Communications through a stock swap.
The Street may be cautious about Reliance Industries’ telecom and retail businesses, but the Mukesh Ambani-controlle d firm says Jio and retail will place Reliance in a select group of most valuable companies in the world. Private sector lender IndusInd Bank has now decided to focus on the real estate business, after a gap of almost six years. The lender has decided to focus on financing construction of projects and the Loan Against Property business. Nestle India is in the process of destroying Maggi instant noodles worth Rs3.2bn after it was banned by central food safety regulator FSSAI due to presence of lead and taste enhancer monosodium glutamate beyond permissible limits. The ban on Nestle's Maggi brand and its recall have affected close to 1,500 direct employees of the company involved in the production of the instant noodles.
Several test reports from states such as UP, Chhattisgarh, Karnataka, Assam, Arunachal Pradesh, Sikkim, Meghalaya and Mizoram have found Maggi noodles to be free of lead as Nestle India undertakes a country-wide recall. India's largest telecom service provider Bharti Airtel will start trials of its 4G services in Delhi from June 18. Bharti Airtel said its agreement with Helios Towers Africa for sale of tower assets in Tanzania and Tchad signed last year has been terminated.
Adani Group has decided to invest Rs50bn in Tamil Nadu to set up a 700 mega watt power generation capacity based on solar. This is part of Adani Group's plan to set 10,000 mega watt of solar power by 2022 across the country.
Aurobindo Pharma has received the final approval from the US Food & Drug Administration to manufacture and market extended Phenytoin Sodium Capsules, an anti-epileptic drug for controlling seizures. A detailed project report on the proposed Rs50bn steel plant to be set up under a joint Venturebetween ArcelorMittal and state-run SAIL will be completed by August. Glenmark Pharmaceuticals has received final nod from the US health regulator for generic oral contraceptive Levonorgestrel/Ethinyl Estradiol tablets and plans to commence shipping of the product immediately. State-owned BHEL said it has commissioned NTPC's 800-MW Koldam hydro power project in Mandi district of Himachal Pradesh. An inter-ministerial panel deferred decision for the second time on Kotak Mahindra Bank's proposal for raising foreign investment limit in the bank to 55%. Essar Oil is planning to set up another 2,100 retail outlets, taking the total tally to 5,000 retail outlets. This will make Essar Oil largest private fuel retailer in the country. The Ruias of the Essar group are set to sell 49% stake in Essar Oil to Russian oil and gas giant Rosneft for close to Rs105bn. After setting up 1,500 fuel retail outlets and having 1,400 under implementation, Essar Oil is planning to set up another 2,100 retail outlets, taking the total tally to 5,000 retail outlets. This will make Essar Oil largest private fuel retailer in the country. Private sector HDFC Bank has cut base rate or minimum lending rate by 0.15%, a move which will lower EMIs for its borrowers. After launching a new brand, budget carrier, SpiceJet put up 50,000 tickets on sale for four days to popular international destinations such as Colombo, Bangkok and Dubai. Idea Cellular expects Reliance Jio Infocomm's impending launch of 4G services to fuel faster growth of data services in the country, but India's third-largest telecom operator will continue to focus on growing its 3G operations for now. Russian oil giant Rosneft's talks with India's Essar Group to buy a key stake in the unit that owns the Vadinar refinery have slowed, sources said, after the two sides clashed over the western Indian plant's valuation. Future Group founder and chief executive Kishore Biyani wants to recast the strategy of the group and likes to call it "rebirth". Amtek Auto brushed aside reports of a default in repayment of loan repayments related to foreign currency convertible bonds (FCCBs) of USD70mn. IIFL Holdings informed the exchanges that it has received the approval of the insurance regulator for the transfer of 75% shareholding in India Infoline Insurance Brokers to Orpheus Trading.
The Bombay High Court has not provided any ad interim relief to Madhu Kapur, the second-largest promoter of YES Bank, who has been seeking a stay on the reappointment of two directors — M R Srinivasan and Diwan Arun Nanda (independent director). Manufacturers of Ambuja Cement will set up 15 Ambuja knowledge centres in various parts of the country by December. Mangalore Refinery and Petrochemicals Ltd has commenced commercial production of polypropylene in Mangaluru.
This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment Advisory Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only. This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or commodities. All information, levels & recommendations provided above are given on the basis of technical & fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion. People surfing through the website have right to opt the product services of their own choices. Any investment in commodity market bears risk, company will not be liable for any loss done on these recommendations. These levels do not necessarily indicate future price moment. Company holds the right to alter the information without any further notice. Any browsing through website means acceptance of disclaimer.