TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 8631/ 19159. According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 8546 will be small support for Nifty futures and 18908 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 8379 level and Bank Nifty futures can touch 18229 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 8697 for Nifty futures and 19407 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8793 and 19342 for Bank Nifty futures.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
R2 8755
R1 8671
PP 8629
S1 8587
S2 8503
WEEKLY
R2 9422
R1 8838
PP 8546
S1 8253
S2 7669
MONTHLY
R2 9515
R1 8861
PP 8534
S1 8207
S2 7554
DAILY
R2 19709
R1 19354
PP 19176
S1 18999
S2 18644
WEEKLY
R2 20780
R1 19622
PP 19043
S1 18464
S2 17306
MONTHLY
R2 20780
R1 19622
PP 19043
S1 18464
S2 17306
BANK NIFTY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
8433
8313
8454
8419
BANK NIFTY
18532
18204
18435
18268
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
8344
7963
9054
BANK NIFTY
18823
17180
20848
NSE EQUITY DAILY LEVELS COMPANY NAME
R3
R2
R1
PP
S1
S2
S3
ACC ALBK
EQ EQ
1489 94
1466 92
1455 90
1443 89
1432 88
1420 87
1397 85
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
260 861 624 2624 168 195 294 451 718 448 127 4073 386 3836 997 1407 1146 2724 114 984 335 333 963 1037 87 762 1935 1372 36875 4349 302 194 75 412 1059 451 49 284 152 975 429 77 298 187
256 851 614 2594 163 188 290 444 707 441 121 4016 381 3774 982 1377 1135 2703 112 962 328 329 953 1023 84 751 1912 1350 36681 4297 299 188 74 405 1047 443 48 279 149 966 418 76 294 181
251 841 604 2564 158 182 286 436 695 434 116 3959 375 3712 967 1346 1123 2682 110 939 322 325 944 1009 82 740 1888 1328 36487 2445 295 181 73 397 1035 435 47 273 147 957 406 75 289 176
248 835 598 2547 156 178 284 433 688 430 113 3939 373 3673 961 1329 1116 2669 109 925 317 322 939 1003 81 734 1873 1320 36380 4219 293 177 72 394 1028 431 46 270 145 953 399 74 286 172
247 831 594 2533 154 175 282 429 684 427 111 3902 370 3650 953 1316 1111 2661 108 917 315 320 934 995 80 729 1864 1306 36293 4193 291 174 71 389 1023 427 45 268 144 949 395 73 284 170
244 825 588 2517 151 171 280 426 677 423 107 3882 367 3611 946 1299 1104 2648 107 903 311 318 929 989 79 723 1849 1298 36186 4167 289 170 70 387 1016 423 44 265 143 944 388 72 282 166
242 821 584 2503 149 169 278 422 673 420 105 3845 364 3588 938 1285 1100 2641 106 894 308 316 925 981 78 717 1840 1284 36099 4141 288 168 69 382 1011 419 43 263 142 940 383 71 280 164
SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK
TOP 15 ACHIEVERS
SR.N SCRIPT NAME PREV O CLOSE
TOP 15 LOOSERS
SCRIPT NAME
PREV CLOSE
CMP
% CHANG
SR.NO
+20.59
1
JUST DIAL
1196.30
1095.50
2
EMAMI LTD
1249.65
1161
3
CASTEX TECHNOLOGY BAJAJ HOLDINGS
316
295.45
1504.10
1410.20
57.55
54.05
6
INDIABULLS REAL EST INDIAN CEMENT
93.10
87.75
7
TEXMO PIPES
14.05
13.25
8
SUN TV
279.20
267.75
9
ONGC
302.95
292.80
10
SINTEX INDUS
106.80
103.30
11
JK CEMENT
626.45
608.85
12
KARUR VYSYA BANK GATI LTD
491.95
478.55
184.25
179.95
BAJAJ FINSERV LTD SAIL
1759.15
1719.85
59.40
58.20
1
BHUSHAN STEEL
54.85
66.15
2
RAJESH EXPORT
378.05
447.10
3
GREENPLY INDUS
831.45
961.50
4
PVR LTD
680.15
782.55
5
JK TYRES
87
97.75
6
BEML
1312.20
1474.10
7
BHEL
255.70
286.55
8
ARTI INDUS
9
TATA CHEMICALS
437.95
484.70
10
AMTEK AUTO
153.65
170.05
11
NDTV
105.10
116.05
12
SHASUN PHARAM
357.85
394.55
13
APOLLO TYRE
171.90
189.10
14
PUNJAB CHEM
229.60
252.30
15
PROTON ENGINEERI
237.10
260.40
337.15
//
376.45
+18.26 +15.65 +15.06 +12.36 +12.34 +12.06 +11.65 +10.67 +10.67 +10.42 +10.26 +10.01 +9.89 +9.83
4 5
13 14 15
CMP % CHANG
-8.43 -7.09 -6.52 -6.24 -6.08 -5.75 -5.69 -4.10 -3.35 -3.28 -2.81 -2.72 -2.33 -2.23 -2.02
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION ) 1.
APOLLOTYRE - APOLLOTYRE HAS SHOWN UPWARD MOMENTUM THIS WEEK AND LIKELY TO CONTINUE AND MAY TEST THE LEVELS OF 195 THIS WEEK.
2.
ONGC - ONGC SHOWED SIDEWAYS MOVEMENT THIS WEEK AND IT IT BREAKS 290 LEVES IT IS MOST LIKELY TO COME TO THE LEVEL OF 285.
3.
CAIRN - CAIRN INDIA IS LIKELY TO SHOW DOWNWARD MOVEMENT IF IT BREAKS 169 LVEL AND THEN SUBSIQUENT SUPPORTS ARE 166/164.
4.
COALINDIA - COALINDIA HAS BROKEN THE LEVEL OF 435 IF IT BREAKS 430 LEVEL THEN IT MAY COTTECT UPTO HTE LEVEL OF 426/423 THIS WEEK.
5.
WIPRO - WIPRO MAY SHOW POSITIVE MOMENTUM IF IT TRADES ABOVE 570 LEVELS AND COME UPTO THE LEVEL OF 582 AND IF BREAKS THIS LEVEL THEN NEXT RESISTANCE WOULD BE 588/590.
CURRENCY MARKET USDINR
R2
R1
PP
S1
S2
DAILY
64.05
63.75
63.60
63.45
63.10
WEEKLY
R2 64.40
R1 63.85
PP 63.60
S1 63.30
S2 62.80
MONTHLY
R2 65.25
R1 64.25
PP 63.75
S1 63.25
S2 62.25
EURINR
R2
R1
PP
S1
S2
DAILY
70.10
69.50
69.25
68.95
68.40
WEEKLY
R2 76.00
R1 71.90
PP 69.85
S1 67.80
S2 63.65
MONTHLY
R2 77.10
R1 72.15
PP 69.70
S1 67.20
S2 62.30
JPYINR
R2
R1
PP
S1
S2
DAILY
51.85
51.50
51.30
51.10
50.70
WEEKLY
R2 53.75
R1 52.25
PP 51.50
S1 50.70
S2 49.20
MONTHLY
R2 56.60
R1 53.30
PP 51.65
S1 50.00
S2 46.70
GBPINR
R2
R1
PP
S1
S2
DAILY
101.00
99.90
99.30
98.80
97.70
WEEKLY
R2 103.15
R1 100.40
PP 99.05
S1 97.70
S2 94.95
MONTHLY
R2 107.45
R1 101.90
PP 99.15
S1 96.40
S2 91.85
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ Indiabulls Housing allot 49,700 equity shares on warrant conversion - Indiabulls Housing Finance Ltd has announced that on July 13, 2015, the Company, has issued and allotted 49,700 (Forty Nine Thousand Seven Hundred) Equity shares of face value Rs. 2/- each, upon conversion oF warrants.Consequent to the said allotment, the paid-up Equity Share Capital of the Company stands increased to Rs. 71,14,16,828/- divided into 35,57,08,414 Equity Shares of face value Rs. 2/- each.
✍ Unichem Laboratories gains 1% after Q1 earnings - Unichem Laboratories was up nearly a percent at Rs. 223 on the back of three-fold jump in Q1 net at Rs. 28.78 crore as against Rs. 9.82 crore in Q4FY15. Total income also rose by 20.7 percent to Rs. 309 crore from Rs. 256 crore for the above mentioned period. The stock touched an intra-day high of Rs. 232.
✍ Gail India surges 3.5% on inviting bids for LNG delivery - Gail India advanced 3.5 percent to Rs. 373.35 amid media reports that the company has launched a tender to buy to Liquefied Natural Gas (LNG) cargoes for prompt delivery, linked to demand for gas by various local fertiliser companies. The company traded up by 12.80 points from its previous closing of Rs. 360.55. It has hit a high of Rs. 375 and low of Rs. 362. In Bse, its total traded quantity was around 0.83 lakh shares against two weeks averag quantity of 0.54 lakh shares.
✍ IndusInd Bank surges 3.2% on Q1 results - IndusInd Bank also rallied over 3.2 percent to Rs. 923.90. The bank reported 24.7 percent growth in Q1FY16 net at Rs. 525 crore when compared with Rs. 421 crore in the corresponding quarter a year ago. Total income grew by 20 percent to Rs. 3,448 crore from Rs. 2,874 crore. The company has hit a high of Rs. 928 and low of Rs. 895.25.
✍ BPCL surges 3.2% on plans to expand Bina Oil Refinery - Bharat Petroleum Corporation (BPCL) surged over 3.02% at Rs. 907.85. The company is planning to expand its Bina oil refinery in Madhya Pradesh by 30 percent to 156,000 barrels per day at a cost of about $ 472 million. The stock has hit a high of Rs. 913.85 and low of Rs. 880.10. In Bse, the counter has registered trade of around 1.19 lakh shares against two weeks average quantity of 1.72 lakh shares
✍ Govt to pay Rs. 12/litre kerosene subsidy - The government has capped subsidy it will pay on kerosene at Rs. 12 per litre, according to reports. A report says that Finance Ministry will pay Rs. 12 per litre in cash to state-owned fuel retailers. Currently, oil companies sell kerosene at a loss of about Rs. 18 per litre. For LPG, government has decided to fully bear difference between the cost and the retail selling price.
✍ Clariant Chemical approves buy back shares - Axis Capital Ltd has submitted to BSE a copy of public announcement to the Equity Shareholders / beneficial owners of Equity Shares of Clariant Chemicals (India) Ltd for buy back of Equity Shares through Tender Offer. This PA
is being made pursuant to the provisions of Regulation 8(1) of the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended (the “Buy Back Regulations”) and contains the disclosures as specified in Part A of Schedule II to the Buy Back Regulations. Offer for buy back of upto 35,78,947 fully paid up Equity Shares of face value of Rs. 10 each at a price of Rs. 950 per fully paid up equity share on a proportionate basis through the Tender Offer Process. At 2:32 PM, the stock trading flat at Rs. 868.25. The stock has hit a high of Rs. 872.40 and a low of Rs. 865 on BSE today. Total traded quantity on the counter stood at over 5,707 odd-shares on BSE.
Gujarat Pipavav completes restoration of Pipavav Railway Corporation - Gujarat Pipavav Port Ltd has announced that the restoration of Pipavav Railway Corporation Limited (PRCL) rail line connecting Pipavav port was completed, the test runs were successfully carried out and Indian Railways declared the rail line open for operations from the night of July 11, 2015. The rail operators have also declared restoration of normal services to and from Pipavav Port. ✍
✍ BPCL gains on plans to expand Bina Oil Refinery - Bharat Petroleum Corporation (BPCL) is trading on a positive note amid media reports that the company is planning to expand its Bina oil refinery in Madhya Pradesh by 30 percent to 156,000 barrels per day at a cost of about $ 472 million. The stock is now up over 2 percent at Rs. 900, with trades of around 42,000 shares, as against two-week daily average volume of 172,000 shares. ✍ ONGC Videsh not to exit Vietnam block - ONGC Videsh Ltd is not exiting a Vietnam oil block in the contested waters of the South China Sea, according to reports. A report says that the company also planning to seek a third extension of exploration licence for Block 128 to maintain India's strategic interest in the South China Sea. ✍ The block lies in the part of South China Sea - OVL stated that if it was to exit the block, it would have to pay $15-20 mn penalty for not drilling a committed exploration well, says report. ✍ Tata Steel UK workers expected to sign a new deal - Tata Steel UK's workers are expected to sign a new deal to end a pensions row, according to reports. A report added that the ballot of union members closes on Wednesday and is expected to deliver resounding support for the deal. The four unions -- Community, Unite, GMB and Ucatt -- called off a strike last month after the Indian steel giant agreed to retain a final-salary pension scheme. The unions have recommended that staff accept the deal. ✍ L&T Finance acquires 26% stake in Grameen Capital: - L&T Finance has acquired 26% stake in Grameen Capital India for an undisclosed amount, according to reports. A report says that Grameen Foundation, Citicorp Finance, Amit and Arihant Patni are the other shareholders in the company. Y M Deosthalee, Chairman & Managing Director of L&T Finance Holdings reported "We are delighted to partner with Grameen Capital and come up with innovative solutions for the capital needs of these enterprises. Grameen Capital India provides capital market access to impact-focused enterprises serving the base-of-the-pyramid segment through innovative debt and equity solutions, credit enhancement and strategic advisory services.
✍ DCB Bank Q1 net profit at Rs. 46.9 crore; Gross NPA at 1.96% - DCB Bank Ltd has announced a net profit of Rs. 468.70 million for the quarter ended June 30, 2015 as compared to Rs. 446.40 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 3,866.90 million for the quarter ended June 30, 2014 to Rs. 4,674.40 million for the quarter ended June 30, 2015. The bank reported Gross NPA at 206.4 crore Vs 186.1 crore (QoQ). Capital Adequacy Ratio stood at Rs. 300 crore Vs Rs. 371. 2 crore (YoY) ✍ PSU OMCs stock gains as crude oil prices fall; BPCL top gainer - BPCL surged 2 percent to Rs. 927 as US Crude Oil futures sank deeper into red after Iran and six global powers reached a landmark nuclear deal. Post deal Iran is likely to restart oil exports. Among other oil marketing companies - HPCL rallied 3 percent to Rs. 845 and Indian Oil (IOC) jumped over 3 percent to Rs. 438. On Tuesday, the BSE Sensex opened 25-odd points higher at 27,987, but soon slipped into the negative zone following weak CPI data overnight. The BSE index thereafter traded with a negative bias for most part of the trading day on the back of weakness in select banking and metal stocks. ✍ CRISIL to close buyback issue - CRISIL Ltd has announced that with reference to the Public Announcement dated June 23, 2015 in respect of the buyback of shares by the Company at a price not exceeding Rs. 2,310/- per share (Maximum Offer Price) and upto an aggregate amount of Rs. 102 crore (Maximum Offer Size). With reference to the above stated Buyback, the Company has till date brought back 5,11,932 equity shares for a total consideration of Rs. 101.98 crore at an average price of Rs. 1,992.02 per share. The Company has thus deployed 99.98% of the total approved amount of Rs. 102 crore towards the Buyback. As per the terms of the Public Announcement dated June 23, 2015 and the approval of the Buyback Committee of CRISIL Limited, it has been decided to close the Buyback with effect from July 14, 2015. ✍ Kalindee Rail shareholders approves merger with Texmaco Rail - Kalindee Rail Nirman (Engineers) Ltd has informed BSE regarding Result of Postal Ballot/E-Voting and Court Convened Meetings of Shareholders and Creditors of the company in connection with the Scheme of Amalgamation between the company and Texmaco Rail & Engineering Limited. ✍ Titagarh Wagons raises Rs. 150 crore through QIP - Shares of Titagarh Wagons Ltd trading up 1% at Rs. 109.10 on BSE. The company reportedly said its board has approved the allocation of 1.5 crore shares to raise Rs. 150 crore through qualified institutional placement (QIP). The stock opened at Rs. 108.10 as against the previous close of Rs. 108.50 on BSE. It has hit a high of Rs. 109.25 and a low of Rs. 108 on BSE today. Total traded quantity on the counter stood at over 0.30 lk shares on BSE. ✍ JSW Steel gains on good steel production in Q1 - JSW Steel is currently trading at the highest level of the day - with a gain of almost a percent at Rs. 843 on the BSE, after the firm reported good steel production. Yesterday after market hours, JSW Steel informed BSE that is has reported highest ever quarterly Crude Steel production at 3.40 million tonnes for Q1 FY 2015-16 showing a growth of 10 percent over corresponding quarter of previous year. On the BSE, the counter has seen trades of around 22,000 shares as against the two-week daily average volume of 80,000 shares.
✍ Lupin gains on USFDA nod - Shares of Lupin Ltd were trading higher 1.1% at Rs. 1937 on BSE today. The pharma company gets US FDA's approval for generic of Fresenius' Phoslo Gelcaps, as per media reports. The stock hit a high of Rs. 1,943.50 and a low of Rs. 1,920 on BSE today. Total traded quantity on the counter stood at over 0.39 lk shares on BSE. ✍ FIIs cuts stake in PSU banks - Foreign institutional investors (FIIs) have reduced their exposure in public sector banks (PSB) for the second straight quarter, says a report. Overseas investors reduced holdings in most of the PSBs such as State Bank of India (SBI), Punjab National Bank (PNB), Oriental Bank of Commerce (OBC), Bank of Baroda (BOB), Bank of India (BOI) and Canara Bank by up to three percentage points in April-June quarter. In Andhra Bank, Uco Bank, IDBI Bank, Syndicate Bank, Indian Overseas Bank and State Bank of Mysore, their stake was declined by less than one percentage points, FIIs have reduced their stake in 20 banks and increased in five – DCB Bank, Karnataka Bank, South Indian Bank, Indian Bank and Corporation Bank, according to reports. ✍ Aban Offshore extends rally on Iran deal - Aban Offshore extended rally and jumped another 1.5 percent to Rs. 327 following the historic nuclear deal between Iran and six major powers. The company is engaged in oil exploration and production and is generating 35 percent of its revenues from Iran. The stock has hit a high of Rs. 340 and a low of Rs. 23. ✍ PM Modi launches National Skill India Mission - On the occasion of first ever World Youth Skills Day , Prime Minister Narendra Modi formally unveiled the National Policy for Skill development and Entrepreneurship 2015 and launched “National Skill Development Mission”. The pilot phase of PMKVY had already begun earlier. The Minister of State (Independent Charge) for Skill Development and Entrepreneurship Rajiv Pratap Rudy was the Guest of Honour on this occasion. Union Ministers Arun Jaitley, Manohar Parrikar, Suresh Prabhu, Anant Geete, Jagat Prakash Nadda, Ananth Kumar, Narendra Singh Tomar, Thaawar Chand Gehlot, Piyush Goyal and Santosh Kumar Gangwar were present on the dais. Chief Ministers, State Ministers, Secretaries to the Government of India, and other representatives from central and state governments were present at the event. Foreign dignitaries, including Ambassadors and High Commissioners, senior industry leaders, representatives of multilateral organizations and from industry associations also attended. ITI faculty, skill trainers and trainees from a range of training programs also participated. ✍ Skill Dvpt Minister Rajiv Pratap Rudy stated that the common norms framework Will ensure Streamlining Of Schemes. "We hope to Work Closely with States to Push Skill India Mission," says Rajiv Pratap Rudy. Rajiv Pratap Rudy added that they have tied Up With Railway Ministry for Virtual Training. ✍ Ajay Piramal plans to invest up to Rs. 300 crore in ReGen Powertech - Ajay Piramal is reportedly planning to invest up to Rs. 300 crore in ReGen Powertech. The deal is still under negotiation, says report.The proceeds will be used to expand the business and repay loans. "We see opportunities for future growth," R Sundaresh, joint managing director of ReGen, said. Media report says that ReGen will issue the bonds via ReGen Infrastructure & Services, a wholly owned subsidiary.
✍ Adani Ports up on receiving LoA for Vizhinjam port project - Adani Ports & SEZ is trading with gains in noon deals on the back of positive news flow. According to media reports,
the Kerala government has handed over the Letter of Award (LoA) for the mega Vizhinjam port project to sole bidder Adani Ports & SEZ. The stock is trading near the day's high with a gain of 1.3 percent at Rs. 320. The counter has seen trades of around 73,000 shares as against the two-week daily average volume of around 194,000 shares on the BSE.
Top Economy news Government is working on a new agriculture insurance scheme that will cover all the inputs put by a farmer into his farm as also the loans taken by him, Finance Minister Arun Jaitley said. Reserve Bank of India will support arrangements for aggregating farmers produce to facilitate flow of credit especially from foreign banks operating in India. The state-run National Bank for Agriculture and Rural Development has set a target of providing Rs. 300bn as credit to farmers for irrigation over the next three years, a senior official said. Consumer price index-based inflation for the month of June rose to 5.40%, the highest level in seven months, on the back of increased rate of price rise in food items, data released by the Ministry of Statistics and Programme Implementation showed. Euro zone leaders clinched a deal with Greece to negotiate a third bailout to keep the near-bankrupt country in the euro zone after all-night talks at an emergency summit. Oil ministry expects a subsidy burden of Rs 50-60bn for state-run oil and gas producers this fiscal year if world oil prices stay at current levels, a senior oil ministry source said. In a lowest since November 2014, the annual rate of inflation, based on monthly WPI, extended its deflationary trend for eight successive month and eased further to -2.40% for June as compared to -2.36% for May. The same stood at 5.66% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.42% compared to a build up rate of 1.50% in the corresponding period of the previous year. Finance Minister Arun Jaitley and NITI Aayog Vice-Chairman Arvind Panagariya are again, talking of double-digit growth at a time when, even the changed methodology of calculating gross domestic product had yielded 7.3 per cent economic growth rate for 2014-15. For the current financial year, only the government has projected the growth rate to be 8.1-8.5 per cent; other agencies have pegged it in the range of 7.5-7.8 per cent. In fact, the International Monetary Fund has projected the country’s economic growth rate at just 7.8 per cent even in 2020-21. The Centre has been claiming it has increased devolution to states in the 14th Finance Commission, but most state governments are of the view that their financial position has worsened during 2015-16, compared to the previous year, if one takes into account the
reduction in block grants and transfers through central schemes vis-à-vis the increase through tax devolution. Having received inputs from various ministries on the draft rules for Indian airlines to fly abroad, the civil aviation ministry is set to hold fresh consultations with airlines. Wholesale Price Index-based inflation for the month of June continued to be in the deflationary territory for the eighth straight month, backed primarily by lower commodity prices. Provisional WPI inflation for June stood at -2.40%, compared with -2.36% in May and 5.66% for the same period last year. In an effort to ensure a uniform model for engaging with private players in mining, the coal ministry is coming up with a model mine development operator agreement. Apart from Coal India (CIL), which would engage with private players as per the new MDO model, this will also serve as a guideline for state government-run miners as well for selecting private operators.
Top Corporate News Country's third largest software services firm Wipro aims to significantly increase its rate of patent filing over the next three years. After the announcement of its merger with its subsidiary Cairn India last month, Vedanta Limited’s Chairman Navin Agarwal stated that shareholders will get access to metal and mining assets of the company. Royal Enfield, the world's fastest growing premium bike-maker clipping at over 40% sales on an average every month since the beginning of this year, will be ramping up its capacity up to 52k a month by December, from the current capacity of 36k units. FMCG major Emami is scouting for acquisitions to expand its product offerings as the company enters into next phase of growth in consumer care products segment. Utility and tractor vehicle major Mahindra & Mahindra will seek shareholder approval to raise up to Rs. 50bn through issue of securities on private placement basis at the upcoming annual general meeting. Tata Motors Ltd plans to double the revenue from its defence business over the next three years to $600 mn, betting on the government's push for more local defence manufacturing, a top company official said.
Aurobindo Pharma has received final approval from the US Food and Drug Administration to produce and sell Flecainide Acetate Tablets -- used for regulating heart rate -- in the American market.
Indraprastha Gas Ltd (IGL) has acquired 250k more shares of Maharashtra Natural Gas Ltd (MNGL) to become a 50% shareholder in the company. State-run Indian Oil Corp plans to buy at least one spot LNG cargo per month in 2015-16 to take advantage of lower short-term prices, senior company executive Debasis Sen said. Bharat Petroleum Corp Ltd plans to expand its Bina oil refinery in Madhya Pradesh by 30% to 156k barrels per day at a cost of about $472mn. Private carrier Jet Airways scaled up its daily seat deployment on the domestic network by 1,000 seats with the addition of new services to provide an enhanced connectivity within the country. Drug firm Dr Reddy's Laboratories has launched in the US market the generic Memantine hydrochloride tablets used for treatment of dementia of the Alzheimer's type. Reliance Power has written to the coal ministry to restrict coal mining from two blocks attached to the company's Sasan ultra mega power project in Madhya Pradesh. Samriddhi Developers and Gorakhpur Real Estate Developers are bidding for 45-acre plot owned by Sahara in Gorakhpur. Ramco Systems said that it has signed multi-year global mandate with Cobham Aviation Services, an aviation solution specialist to defence, government and commercial aircraft customers. The Kerala government has handed over the letter of award for the mega Vizhinjam port project to sole bidder Adani Ports & SEZ Ltd.
Yes Bank Ltd has received approval from RBI to set up IFSC Banking Units in Gujarat International Finance Tec city. Having built a global scale and the capabilities in pharmaceutical ingredient manufacturing front, Granules India Limited is now focusing on R&D and formulations and the new acquisitions are likely to reflect this new thrust in its business strategy. GVK Power & Infrastructure is looking to raise funds for its airport business as the diversified group seeks to reduce its debt burden.
The US Food and Drug Administration has banned drug imports from an India manufacturing unit of Emcure Pharmaceuticals Ltd over violations of standard manufacturing practices, the latest in a series of Indian firms to face such action. Reliance Communications, India's fourth largest telecom carrier, is building its own mobile applications as it looks to offer new and enhanced services to retail and enterprise customer .
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