TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 8380/ 18358. According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 8251 will be small support for Nifty futures and 18126 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 8126 level and Bank Nifty futures can touch17926 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 8464 for Nifty futures and 18515 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8529 and 18637 for Bank Nifty futures.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) PIVOT POINT NIFTY DAILY
R2 8603
R1 8455
PP 8381
S1 8307
S2 8159
WEEKLY
R2 8882
R1 8538
PP 8366
S1 8197
S2 7850
MONTHLY
R2 9950
R1 8842
PP 8288
S1 7734
S2 6626
PIVOT POINT BANK NIFTY DAILY
R2 19249
R1 18639
PP 18334
S1 18029
S2 17419
WEEKLY
R2 20038
R1 18878
PP 18298
S1 17718
S2 16558
MONTHLY
R2 23359
R1 19901
PP 18172
S1 16443
S2 12985
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY BANK NIFTY
8192 17872
8261 18034
8501 18505
8392 18081
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
8080
8569
9139
BANK NIFTY
17505
19005
21012
NSE EQUITY DAILY LEVELS COMPANY NAME
R3
R2
R1
PP
S1
S2
S3
ACC ALBK
EQ EQ
1489 96
1455 93
1438 91
1420 90
1403 88
1389 87
1351 84
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
236 771 584 2683 152 191 265 443 637 428 136 3620 424 3504 1012 1360 1101 2634 121 917 324 319 908 1031 96 1418 1845 1354 34676 4194 322 192 73 414 1041 428 53 276 187 892 451 77 311 162
231 760 574 2601 148 185 258 432 627 420 127 3570 413 3456 980 1325 1081 2588 119 901 318 314 886 1017 93 1400 1816 1329 34206 4123 317 184 67 391 1022 405 49 270 181 879 443 75 305 157
229 754 569 2567 146 180 254 424 623 416 124 3550 406 3426 967 1305 1073 2565 118 894 314 310 876 1010 91 1391 1799 1316 33972 4099 315 179 64 381 1012 396 48 267 178 873 440 74 301 155
227 749 564 2519 144 178 251 421 617 412 119 3519 402 3408 947 1290 1062 2543 117 884 311 308 863 1004 90 1382 1787 1304 33736 4052 313 176 60 367 1003 383 45 264 176 867 435 73 299 152
224 743 559 2485 142 174 247 413 613 408 115 3499 395 3378 935 1270 1053 2520 115 878 308 305 853 997 89 1373 1770 1291 33502 4028 310 172 57 357 993 373 44 261 172 861 433 72 295 150
222 738 554 2437 139 171 244 409 607 404 110 3469 391 3361 914 1255 1042 2497 114 868 305 303 841 990 87 1364 1758 1279 33266 3981 308 169 53 344 985 360 42 258 170 854 428 71 293 147
217 727 545 2354 135 164 236 398 598 396 102 3418 379 3313 882 1220 1023 2452 112 851 298 298 818 977 85 1346 1729 1254 32796 3911 303 161 47 321 966 338 38 252 164 842 420 70 287 142
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
+34.73
1
DISH TV INDIA
114.15
103.10
2
BAJAJ ELECTRICAL J&k BANK
299.5
272.95
109.10
100.45
473.25
436.50
5
BHARTI INFRATEL LTD SYNDICATE BANK
107.60
99.90
6
SUN TV NETWORK
312.10
290.00
7
989.90
927.70
8
VARDHMAN HOLDING JUNDAL ST& PWR
95.95
90.75
9
ESSAR OILS
143.65
136.70
10
ADANI ENTER
99.25
95
11
SUSAN PHARAM
353.90
339.90
12
CANARA BANK
301.70
290.40
13
GABRIEL INDIA
79.55
77.30
14
BEML LTD
1255.25
1222.50
15
INDIAN BANK
144.80
145.20
42.90
57.80
2
INDIABULLSREAL EST NCL INDUSTRIE
42.90
57.80
3
JP INFRA
11.75
15.45
4
MMTC
43.30
56
5
RAJESH EXPORTS
242.85
309.40
6
VADILAL INDIS
500.35
614.90
7
CHENNAI PETRO
143.80
168.65
8
INDIA CHEM
81.00
94.00
9
ESCORTS LTD
106.50
123.40
10
SRF LTD
1039.85
1195.20
11
NITCO LTD
17.45
20.00
12
BAJAJ FINANCE
4776.20
5424.80
13
ARVIND LTD
235.50
267.10
14
DLF LTD
108.55
121.35
15
APOLLOHOSP
1187.85
1315.15
1
//
+34.73 +31.49 +29.33 +27.40 +22.89 +17.28 +16.05 +15.87 +14.94 +14.61 +13.58 +13.42 +11.79 +10.72
3 4
CMP % CHANG
-9.68 -8.88 -7.93 -7.77 -7.16 -7.08 -6.28 -5.42 -4.84 -4.28 -3.96 -3.75 -2.83 -2.61 -2.42
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION ) 1. BANK BARODA - BANK BARODA IS IN DOWN TREDN AND IF IT BREAKS LEVEL OF 142 THEN NEXT POSSIBLE LEVEL WILL BE 138. 2. ONGC - ONGC IS WEAK ON DAILY CHARTS AND IT IS LIKELY IF IT BREAKS 310.60 LEVEL THEN IT CAN AGAIN GO UPTO THE 297 LEVEL. 3. HDFC BANK - HDFC BANK ON DAILY CHART SEEMS VERY STRONG IF IT BREAKS LEVEL OF 1073.80 THEN 1109 LEVELS ARE VERY LIKELY AND ABOVE THAT LEVEL IT MAY RESUME ITS STRONG BULLISH TREND. 4. JINDAL STEEL - JINDAL STEEL IS IN STRONG DOWN TREND IF IT BREAKS THE WEAKLY LOW OF 88.75 THEN WE CAN ASPECTING IT TO CORRECT FURTHER 2% TO 3% ON WEAKLY BASIS.
CURRENCY MARKET USDINR
R2
R1
PP
S1
S2
DAILY
64.270
64.075
63.978
63.880
63.685
WEEKLY
R2 64.634
R1 64.209
PP 63.996
S1 63.784
S2 63.359
MONTHLY
R2 67.392
R1 65.312
PP 64.272
S1 63.232
S2 61.152
EURINR
R2
R1
PP
S1
S2
DAILY
72.210
71.820
71.625
71.430
71.040
WEEKLY
R2 76.627
R1 73.497
PP 71.932
S1 70.367
S2 67.237
MONTHLY
R2 82.287
R1 75.287
PP 71.7875
S1 68.287
S2 61.287
JPYINR
R2
R1
PP
S1
S2
DAILY
52.260
52.000
51.870
51.740
51.480
WEEKLY
R2 53.420
R1 52.380
PP 51.860
S1 51.340
S2 50.300
MONTHLY
R2 55.287
R1 53.086
PP 51.986
S1 50.886
S2 48.686
GBPINR
R2
R1
PP
S1
S2
DAILY
101.445
100.875
100.590
100.305
99.735
WEEKLY
R2 106.304
R1 102.709
PP 100.911
S1 99.114
S2 95.519
MONTHLY
R2 113.549
R1 104.6392
PP 100.184
S1 98.148
S2 86.819
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ Credibility of Indian economy has been partly restored: Arun Jaitley Finance Minister Arun Jaitley reportedly said that the credibility of Indian economy has been partly restored and the momentum must be sustained over the next two years. Jaitley added that there is "huge amount of enthusiasm" among investors as they see India picking up again, according to reports.It is only then that investors world over are going to feel comfortable. The initial signs are good but I think this is momentum which has to be sustained over a period of time," quoted FM. Jaitley also stated that the reform process is clear, the government's thinking is clear.
✍ Dr.Reddy's Lab climbs 1.3% on HaiROOTZ launch Dr.Reddy's Laboratories added 1.3 percent to Rs. 3,430 after the company launched HaiROOTZ, its first hair growth supplement to be marketed in India as over-the-counter product.Dr Reddy's Laboratories' consolidated net profit rose 7.7% to Rs 518.84 crore on 10.8% growth in total income to Rs 3887.34 crore in Q4 March 2015 over Q4 March 2014.The stock hit a high of Rs 3,427 and a low of Rs 3,402.75 so far during the day. The stock hit a 52-week high of Rs 3,808.75 on 10 April 2015. The stock hit a 52-week low of Rs 2,419 on 19 June 2014.In BSE, the company's total traded quantity was around 0.12 lakh against two weeks average quantity of 0.14 lakh.
✍ Rajesh Exports zooms 7%; mulls over acquisition in Europe Rajesh Exports soared nearly 7 percent to end at a fresh 52-week high at Rs. 283 on foreign acquisition plan.The company informed the BSE today, that the company's board will meet on 02 July, 2015, to consider a proposal for acquisition in Europe in the same line of business.The stock hit a record high of Rs 283.40 in intraday trade today, 22 June 2015. The stock hit a low of Rs 263.50 so far during the day. The stock had hit a 52-week low of Rs 117.35 on 16 October 2014.The total traded quantity of the company was around 2.44 lakh against its two week average quantity of 1.75.
✍ Bajaj Finance stock hits record high Shares of Bajaj Finance Ltd were trading higher 5% at Rs. 5,395 on BSE today.The stock has hit a high of Rs. 5,440 and a low of Rs. 5,160 on BSE today.The company has raised Rs 1,400 crore by issuing 3.27 million equity shares to qualified institutional buyers at the issue price of Rs 4,275 per share through qualified institutional placements , says report.Total traded quantity on the counter stood at over 0.12 lk shares on BSE.
✍ Block deal on Tata Motors Shares of Tata Motors were trading flat at Rs. 273.40 on NSE today. Around 2.56 lakh shares were traded in a multiple block at Rs. 440.85- 440.95 on the NSE.The stock opened at Rs. 274.45 as against the previous close of Rs. 273 on NSE. It has hit a high of Rs. 275 and a low of Rs. 272 on NSE today.Total traded quantity on the counter stood at over 4.16 lk shares on NSE.
✍ NTPC commissions Unit 1 of 250 MW of Bongiagaon Thermal Power Project NTPC Limited has announced that Unit no. 1 of 250 MW of Bongiagaon Thermal Power Project has been commissioned on June 22, 2015 at 22:30 Hrs. With this, the total installed capacity of Bongiagaon Thermal Power Project has become 250 MW and the total installed capacity of the NTPC group crosses 45 GW and has become 45048 MW.
✍ Selling cement plant! Jaiprakash Associates clarifies on reports With reference to the news appeared in Financial Express (June 22,2015) captioned "Heidelberg to buy Jaiprakash Associates' cement unit", Jaiprakash Associates Ltd has clarified that the news item is based on market speculations and that the company does not comment on market speculations. The Company has its firm resolve to reduce its overall debt including through disposal of some of its assets/investments. The company said that it would promptly inform of any event/information that may be having a bearing on the operation/ performance of the Company.
✍ Aurobindo Pharma gains on USFDA nod Aurobindo Pharma continues to trade on a positive note on the BSE, on the back of positive news flow.According to a release issued by the company to the BSE, Aurobindo Pharma today announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Entacapone Tablets USP, 200mg (ANDA 203437). The product will be launched soon.The company has also got final approvals from the USFDA to manufacture and market Azithromycin for injection USP, 500mg (ANDA 203294).So far during the day, the stock has rallied to a high of Rs. 1,380, and is now almost a percent at Rs. 1,369.On the BSE 53,000 shares have been traded at the counter, as against the daily average volume of 103,000 shares in the past two weeks.
✍ Ashok Leyland up on overseas order win Ashok Leyland has extended gains in noon trades on the back of winning overseas order.According to a release issued by the company to the BSE, Ashok Leyland has won an $ 82 million order from Senegal.The stock has so far touched a high of Rs. 72.15, and is now up 1.8 percent at Rs. 71.65. The counter has seen trades of around 1.12 million shares as against the two-week daily average volume of around 1.14 million shares on the BSE.
✍ PSU Bank stocks in focus Shares of state-run banks are trading on a firm note on the back of renewed buying interest amid media reports that the Finance Minister Arun Jaitley said that the government will infuse capital in public sector banks in the next three to six months. Union Bank is top gainer - up 3.4 percent at Rs. 156. Punjab National Bank has rallied over 3 percent to Rs. 142. Bank of Baroda has advanced 1.8 percent at Rs. 149. Oriental Bank of Commerce has spurted over a percent at Rs. 185. Syndicate Bank and Canara Bank have added 0.8 percent each at Rs. 106 and Rs. 312, respectively. Allahabad Bank, SBI and Andhra Bank have gained 0.4-0.6 percent. ✍ Listing time eased for IPOs: SEBI During the SEBI Board meeting, the SEBI cheif UK Sinha outlined the process of E-IPO Norms. The listing time for companies is planned to be reduced to 6 days from the earlier 12 days, from the date of filing. Moreover, the companies with market capital of Rs. 1lakh crore can avail fast track IPO issuance.All IPO applications will be ASBA supported, said the SEBI chief. Acknowledging the start-up market in India, Sinha said that it will allowed for them to raise funds from the capital market. Moreover, the lock-in period will be reduced to 6 months as against 3 years.
✍ BPCL spurts as foreign brokerage reiterates 'Buy' rating Bharat Petroleum Corporation continues to trade with a positive bias on the BSE, on the back of positive news flow.According to media reports, foreign brokerage Deutsche Bank has reiterated 'Buy' rating on the stock.On the BSE, the stock rallied to a high of Rs. 865 so far during the day.Now, BPCL is up more than 1.5 percent at Rs. 860, and has seen trades of around 80,000 shares as against the two-week daily average volume of 135,000 shares.
✍ Deepak Fertilisers up on resuming work at Taloja plant Deepak Fertilisers & Petrochemicals soared to a high of Rs. 132 after the company announced that it resumed production at Taloja facility with imported RLNG as feedstock.According to a release issued by the company to the BSE, the supply of domestic natural gas had been discontinued since 15 May 2014 as per the order of ministry of petroleum and natural gas, which the company has challenged before the Delhi high court.An inter-ministerial committee by the department of fertilisers is also reviewing the issue. Outcomes from both are awaited, the release added.The stock is now up 2.5 percent at Rs. 129. The counter has seen trades of around 39,000 shares as against the two-week daily average volume of around 14,000 shares on the BSE
✍ BHEL surges 4% on commissioning of thermal unit - BHEL surged nearly 4% to Rs. 253 and was the top Nifty gainer after the company commissioned a 250 MW unit of NTPC's Bongaigaon thermal power plant in Kokrajhar district in Assam.The stock traded well on BSE, up by 9.90 points from its previous closing which stood at Rs. 244.05.The company has hit a high of Rs. 257.60 and low of Rs. 243.In BSE, the company's total traded quantity was around 6.59 lakh against two weeks average quantity of 14.34 lakh.
✍ Microsoft to launch Windows 10 in India in July Microsoft India Chairman Bhaskar Pramanik has reportedly said that it is planning to launch Windows 10 in India in July."We have already signed 2 deals With Govt Under Digital India Mission, Pramanik was quoted as saying.Bhaskar Pramanik reportedly said that they are not looking at Manufacturing in India, but looking at sourcing.The company said that they are Well Positioned to meet China in Consumer Business in 5-10 Years, says report. ✍ JSW Energy says will look at organic and inorganic route JSW Energy reportedly said it does not make any "sense" to go for aggressive expansion at the moment."At the moment we are struggling to sell the power that we are generating," JSW Energy joint managing director and CEO Sanjay Sagar was quoted as saying on the sidelines of an event.A report says that the company will continue to look at organic and inorganic growth opportunities but the market has to be right.Sajjan Jindal-led JSW Energy produces 3,140 MW of power with a capacity of another 8,630 MW under implementation and development.
✍ Relaxo Footwears gains on fixing record date for bonus issue Relaxo Footwears is currently trading with a gain of more than 1.5 percent at Rs. 903 on the BSE, after the company fixed the record date for the proposed bonus issue.According to a release issued by the company to the BSE, Relaxo Footwears has fixed 02 July, as the record
date.The scrip has touched an intra-day high at Rs. 915 so far during the day.On the BSE, the counter has seen trades of around 697 shares as against the two-week daily average volume of 2,984 shares.
✍ Nissan puts Evalia production on hold Nissan is reportedly planning to temporarily stop production of its multipurpose Evalia vehicle, due to excess stock, says report.Earlier in May, Ashok Leyland had stopped production of its commercial passenger vehicle, the STILE.“The Evalia’s design and styling is unconventional and, unfortunately, it has not met our sales expectations with Indian customers,” Nissan spokesperson reported.
✍ Nestle working on alternative snack options Nestle is now working on alternate snacking options, according to reports.A report says that this could be in the form of ready-to-eat or ready-to-cook food and involves relaunching Maggi in a new format."We are working hard to resolve situation and we aim to be back in the market as soon as we can," the Nestle spokesperson was quoted as saying.The company reportedly said that it has a strong global R&D team that works continuously on product development.
✍ HUL plans to open mobile-based marketing platform Kan Khajura Tesan Hindustan Unilever is planning to open mobile-based marketing platform Kan Khajura Tesan (KKT) to external advertisers, according to reports. A report says that Kan Khajura Tesan helps the company's brands like Lux and Fair & Lovely engage with rural consumers in media-dark areas.The KKT initiative was first piloted in Bihar, followed by Jharkhand, Uttar Pradesh, Madhya Pradesh and Rajasthan, says report.KKT is the most popular radio station in the northern state of Bihar.
Top Economy news Maharashtra government, in a bid to give much needed relief to property buyers and consumers, plans to revise ready recknor rates from April 1 instead of January 1. To accelerate highways building and salvage stuck road projects, NHAI has asked developers to come forward with a financing plan and justification for the fund infusion that they are seeking from the authority. Concerned over declining exports, the Commerce Ministry is preparing a strategy paper to boost overseas shipments of agricultural products, particularly the value-added goods.
Coffee Board has forecast the post blossom crop of coffee in 2015-16 to touch a record 355,600 tonnes, up by 8.75% over the final production estimate of coffee in 2014-15. The Centre's attempt at monetizing gold lying with Indian households may face a road block with the RBI writing to the finance ministry opposing a plan to use gold deposits as bank Cash Reserve Ratio.
In a step that would bring delight to taxpayers, the Income Tax department has put in motion a new plan which will ensure that any refund on tax paid is safely deposited in their personal bank account as soon as it is processed and released. The government said it is contemplating to rope in states for commercial mining of coal in a bid to fulfill the requirements of small-scale sectors.
Sebi said it expects the proposed merger of commodities regulator FMC with it to be completed by September-end.
The Union Shipping Ministry has decided to utilise 20% of its diesel requirement through bio-diesel at 12 major ports. Centre is planning to give Rs. 250-300bn bonanza for road infrastructure to West Bengal.
The Centre has proposed an investment of US$125 bn during five years for the Indian Railways. The investment is aimed at modernisation, do-congestion of existing railway system, upgrade of existing one, production of wagons and build over 8,000 stations and train coaches. World steel output declined 2.1% in May this year compared to May 2014 led mainly by drop in steel output across Europe, the US, China and Japan. India, however, seemed to have bucked the trend and posted a 4% increase in steel production in May 2015. The Ministry of Urban Development has laid down the operational guidelines for formulation, approval and execution of projects under the three missions — Smart Cities Mission, Atal Mission for Rejuvenation and Urban Transformation and Housing for All Mission in Urban Areas.
Top corporate news Indiabulls Real Estate will seek shareholders' nod to raise a total of Rs5.38bn crore from promoters, including convertible warrants worth Rs. 2.9bn. Dish TV is looking to add up to 1.7 mn net subscribers this fiscal Dr Reddy's Laboratories Limited is working on 18 new drug applications, including the three NDAs it has already filed with the US Food and Drug Administration, and expects two more drugs to go for approvals before 2018. With Oman Oil Company reluctant to put more money, Bharat Petroleum Corp Ltd has decided to fund the Rs180-200bn expansion of the Bina refinery in Madhya Pradesh on its own.
NTPC has put on back-burner its plan to set up a 1600 MW coal-based project at Gajmara in Odisha as it has enough projects in hand. Coal India will hold pre-bid consultations with all interested bidders prior to issuance of a global tender for setting up a monitoring system for projects of more than Rs1.5bn, as the PSU eyes production of 1 bn tonne by 2019-20 United Bank of India is mulling at shifting its treasury department to the financial capital of the country in order to stay closer to the market. Tata Communications said it is evaluating to enhance branding activities in India and the US and may even include Singapore and Hong Kong depending on opportunities. City Union Bank Ltd is looking at raising around Rs5bn through Qualified Institutions Placement as part of its business growth plans Bank of Baroda is making a course correction in its strategy for overseas business. While it prides itself as "India's international bank", its branch presence in India's neighborhood has been weak. Wockhardt has received approval from the US health regulator to market its Oxycodone HCl liquid, used for treating chronic pain, in the American market. Aurobindo Pharma has received final approval from the US Food and Drug Administration to manufacture and market Entacapone tablets and Azithromycin injection.
State Bank of India plans to launch its second dollar bond sale of the fiscal year to raise US$1.5 bn, or even more, to utilise the window available to borrow at a lower cost before the US Federal Reserve possibly raises rates later this yea. Hero Electronix will acquire a majority shareholding in Mybox Technologies , the largest multi operator manufacturer of set top boxes in the country. Larsen & Toubro (L&T) said it has won orders worth Rs 15.07bn across various business verticals.
GMR Infrastructure has joined the long queue of Indian companies that have asked their banks to restructure their loans under the 5/25 scheme as they are unable to meet their loan commitments due to a slowdown in the economy. Uttar Pradesh cancelled the agreement signed with Torrent Power in 2009 to distribute electricity in Kanpur Ashok Leyland Ltd won order, for buses, worth US$82mn from Senegal towards building integrated transportations system. NMDC needs to substantially enhance production to achieve 75 mn tonnes annual output target by March 2020. Larsen & Toubro Ltd will list its IT services unit L&T Infotech by December this year. Lupin said its Board of Directors have given in-principle approval for raising funds of up to Rs75bn. Karnataka Bank Ltd has entered into a Memorandum of Understanding with Edelweiss Integrated Commodity Management Limited for extending storage facilities to farmers and finance against their warehouse receipts . Mahindra and Mahindra is expecting a 16% jump in its combined market share in the commercial vehicle segment with new launches. Bharat Heavy Electricals Ltd has commissioned a 250-MW coal-based thermal unit at the upcoming Bongaigaon Thermal Power Station in Assam. Greenply Industries Ltd has planned a greenfield unit for manufacturing medium density fibreboards in Chittoor district of Andhra Pradesh. Zydus Cadila has received final approval from the US drug regulator, US FDA, to market Pyridostigmine Bromide Tablets USP, 60 mg.
Gujarat Pipavav Port said it has suspended port operations at Pipavav due to the cyclonic weather conditions prevailing and break down of power supply and communication that occurred Tuesday night. Adani Mining it was rejigging the budget on the US$7.72 bn Carmichael coal mine project in Australia as it faces delays in government approvals. Crompton Greaves has signed a long term alliance pact with Spanish European consumer appliances company SOGO to sell kitchen appliances in India. Bharti Airtel launched 4G services in Mysore that will allow its customers to access high speed access to the Internet. Videocon Group will invest approximately Rs. 1.5 bn in West Bengal in ramping up two of its manufacturing facilities here in the State. Escorts has partnered with Cognizant Technology Solutions in a multi-year, multi-million dollar engagement to digitally transform its businesses across all segments. This includes agri-machinery, material handling and construction equipment, railway equipment and auto components. L&T Hydrocarbon Engineering Ltd has received a fresh order worth Rs 27.15bn from upstream major Oil & Natural Gas Corporation for creating new process platforms and other infrastructure at Bassein field, which is located in Western offshore basin. Jet Airways plans to raise US$ 400mn through non convertible debentures or bonds to fund its expansion. ICICI Bank marginally reduced its base rate to 9.70 % from 9.75 % earlier, making its lending rate at par with industry leader SBI and that of HDFC Bank. Gujarat Alkalies and Chemicals Ltd and National Aluminium Company Limited have signed an agreement on June 23, 2015 for the formation of a joint venture to manufacture caustic soda.
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