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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
Nifty futures/Bank Nifty futures market closed on 7785/16605 According to technical analysis if Nifty futures and
Bank Nifty future moves down-word in tomorrow treading session then 7713 will be small support for Nifty
futures and 16413 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go
down to 7630 level and Bank Nifty futures can touch 15917 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 7890 for Nifty futures and
16845 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on
7984 and 17343 for Bank Nifty futures.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY R2 R1 PP S1 S28161 7925 7807 7689 7571
WEEKLY R2 R1 PP S1 S28700 8060 7740 7420 6780
MONTHLY R2 R1 PP S1 S28927 8151 7763 7375 6599
BANK NIFTY
DAILY R2 R1 PP S1 S217501 16925 16637 16349 15773
WEEKLY R2 R1 PP S1 S219413 17403 16398 15393 13383
MONTHLY R2 R1 PP S1 S220170 17706 16474 15242 12778
MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS
NIFTY 7962 8276 8269 8431
BANK NIFTY 17085 18053 18067 18504
PARABOLIC SAR DAILY WEEKLY MONTHLY
NIFTY 7559 8549 8908
BANK NIFTY 15889 11955 10872
NSE EQUITY DAILY LEVELS
COMPANY NAME R3 R2 R1 PP S1 S2 S3
ACC EQ 1443 1408 1387 1373 1352 1339 1312
ALBK EQ 81 78 76 75 74 73 71AMBUJACEM EQ 224 216 211 209 204 201 193ASIAN PAINT EQ 845 831 823 817 809 802 791AXISBANK EQ 521 502 491 483 472 464 451BAJAJ-AUTO EQ 2431 2370 2345 2309 2284 2248 2209BANKBARODA EQ 192 187 183 181 177 175 173BANKINDIA EQ 142 137 134 132 130 127 124BHEL EQ 229 220 215 212 207 204 196BHARTIARTL EQ 364 356 352 349 344 341 335CIPLA EQ 682 668 660 654 647 641 632COALINDIA EQ 350 343 338 335 330 327 321DLF EQ 133 129 127 125 123 121 117DRREDDY EQ 4127 4064 4037 4001 3974 3938 3882GAIL EQ 315 301 293 288 279 274 268GRASIM EQ 3617 3542 3495 3467 3420 3392 3320HCLTECH EQ 954 935 927 917 909 898 883HDFC EQ 1209 1193 1184 1177 1169 1161 1149HDFCBANK EQ 1040 1027 1020 1013 1007 1000 989HEROMOTOCO EQ 2419 2383 2363 2347 2327 2311 2277HINDALCO EQ 81 79 77 76 75 74 72HINDUNILVR EQ 824 809 803 793 787 777 769ICICIBANK EQ 278 272 270 267 264 261 256ITC EQ 322 318 315 314 311 310 307INDUSIND BANK EQ 919 896 882 872 858 848 836INFY EQ 1136 1115 1102 1094 1082 1073 1052JINDALSTEL EQ 67 64 63 61 60 58 55KOTAKBANK EQ 662 647 638 633 624 618 607LT EQ 1680 1643 1620 1606 1583 1569 1543M&M EQ 1242 1207 1185 1172 1150 1138 1109MRF EQ 43785 42240 41388 40694 39842 39148 37603MARUTI EQ 4431 4379 4348 4328 4296 4276 4235ONGC EQ 238 233 231 229 226 224 221ORIENTBANK EQ 134 130 128 126 123 122 119RCOM EQ 70 67 66 64 63 62 61RELCAPITAL EQ 364 352 345 340 333 327 317RELIANCE EQ 904 884 872 864 852 844 829RELINFRA EQ 372 358 349 343 335 329 320RPOWER EQ 40 39 38 37 36 35 34SBIN EQ 241 235 232 230 227 225 251SSLT( VEDL) EQ 111 105 101 98 94 92 88SUNPHARMA EQ 868 857 850 845 839 834 826TATAMOTORS EQ 381 365 354 348 338 331 319TATAPOWER EQ 65 62 61 60 58 57 55TATASTEEL EQ 260 248 240 235 228 223 215UNIONBANK EQ 180 173 169 166 162 160 154
TOP 15 ACHIEVERS // TOP 15 LOOSERS
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION )
1. BANK BARODA FUTURE : BANK BARODA FUTURE OPEN AT 181.35 AND CLOSE AT 179.80
MADE LOW OF 179.45 AND HIGH OF 184.70. OVERALL TODAYS TREND OF BOB IS IN
BEARISH TRENDBANK BARODA FUTURE CLOSE AT 179.80 NEAR TO ITS DAYS LOW OF
179.45 .WE CAN MADE SHORT POSTION BELOW THTIS LEVEL IT CONITNUE IN BEARISH
TREND BELOW THE LEVEL OF 179.45.IF NIFTY MOVEMENT IS IN BEARISH TREND.
2. STAR FUTURE : STAR FUTURE OPEN AT 1113.95 AND CLOSE AT 1100 MADE LOW OF 1093.60
AND HIGH OF 1126.90.OVERALL TODAYS MOVEMENT OF STAR IS IN BEARISH TREND WE
CAN MADE SHORT POSTION BELOW THE LEVEL OF 1090 IF NIFTY MOVEMENT IS IN
BEARISH TREND.
3. TATA STEEL FUTURE : TATA STEEL FUTURE OPEN AT 243.85 AND CLOSE AT 233.85 MADE
HIGH OF 244.35 AND LOW OF 231.35.TODAY’S MOVEMENT OF TATA STEEL IS IN BEARISH
TREND.IT CONINUE IN BEARISH TREND BELOW LEVEL OF 232 IF NIFTY MOVEMENT IS IN
SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
1 TORRENT PHARMA 1625.50 1421.25 -12.57
2 UNIPLY INDUSTRIES
140.10 122.80 -12.35
3 JUBILIANT LIFE SCIE. 352.05 312.05 -11.36
4 EXCEL INDUSTRIES
294.05 266.40 -9.40
5TEXMACO RAIL 114.80 104.10 -9.32
6 ESCORTS LTD 170.65 156.25 -8.44
7 TITAGARH WAGONS 104.15 95.45 -8.35
8 NILKAMAL INDUS. 984.45 903.55 -8.22
9SUN TV 371.80 341.80 -8.07
10 TECHNO ELECTRIC 563.85 521.40 -7.53
11BHARAT FORGE 1114.25 1030.70 -7.50
12 ABAN OFFSHORE 250.15 231.70 -7.38
13 GLENMARK PHARMA 1079.55 1002.65 -7.12
14 AJANTA PHARMA LTD
1515.50 1409.95 -6.96
15MAXWELL INDUS. 49.80 46.40 -6.83
SR.NO SCRIPT NAME PREVCLOSE
CMP % CHANGE
1BF INVESTEMNT LTD 120.80 150.70
+24.75
2 JSW ENERGY 69.10 81.80 +18.38
3CENTRAL BANK 66.95 76.25
+13.89
4 DLF LTF 109.70 124.80 +13.76
5RCOM 59.20 65
+9.80
6 CAPLIN POINT LAB 1396.85 1532.25 +9.69
7ZEE ENTERTAINMENT 361 392
+8.59
8 VIPUL LTD 41.40 44.95 +8.57
9ROSSELL INDIA 92.70 100.60
+8.52
10 YES BANK LTD 659.25 710.95 +7.84
11RALLIS INDIA 204.55 220.25
+7.68
12 GITANJALI GEMS 35.30 37.90 +7.37
13CEAT LTD 1133.30 1216.10
+7.31
14 MARUTI SUZUKI 4030 4317.75 +7.14
15JAIN IRRIGATION 55.70 59.60
+7.00
BERARISH TREND.
4. RECLTD FUTURE : RECLTD OPEN AT 253.40 AND CLOSE AT 247.85. MADE LOW OF 246 AND
HIGH OF 253.40 TODAY’S TREND OF RECLTD FUTURE IS IN BEARISH TREND.IT CONITNUE
IN BERAISH TREND BELOW THE LEVEL OF 246 IF NIFTY MOVEMENT IS IN BEARISH
TREND.
5. HDFC FUTURE : HDFC OPEN AT 1175.45 AND CLOSE AT 1176.05 MADE HIGH OF 1186.75 AND
LOW OF 1171.10 WE CAN MADE SHORT POSTION IN HDFC FUTURE BELOW THE LEVEL OF
1170. IF NIFTY MOVEMENT IS IN BEARISH TREND.
6. CAIRN : IF CAIRN GIVES CLOSING BELOW 144 THEN IT MAY CORRECT FURTHER UPTO
138/136 LEVEL.
7. CROMPGREAV : IF CROMPGREAV CLOSES BELOW 165 ON DAILY CHARTS THEN IT WILL
TEST THE 161 LEVEL.
8. RPOWER : RPOWER CAN SHOW UPWARD MOMENTUM UPTO THE LEVEL OF 40.50 IF IT
BREAKS 38 AND SUSTAIN ABOVE IT ON CLOSING BASIS.
9. AMBUJACEM : AMBUJACEM CAN GIVE CORRECTION UPTO 202/200 LEVEL IF IT
CONTINUES TO TRADE BELOW 206.50.
10. DLF : DLF CAN CORRECT UPTO 120/118 IF IT BREAKS 123.50 LEVEL ON DAILY CHART.
NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK
✍ ATC plans to acquire majority stake in Viom Networks - American Tower Corp is
reportedly planning to acquire a majority stake in tower rival Viom Networks that will see the
Tata group retain a minority stake, according to reports. Report says that the ATC board is
expected to approve the deal this week. Tata Teleservices has 54% stake in Viom and Srei owns
18.5% while the rest is held by private equity firms Macquarie SBI Infrastructure, GIC
Investments, IDFC Private Equity and Funderburk Mauritius (Oman Investment, says report.
✍ CCI clears EMC's additional stake buy in McNally Bharat - The Competition
Commission has cleared EMC's proposed acquisition of 19.77% stake in McNally Bharat
Engineering Company Ltd, according to reports. Earlier in June, there were reports that EMC
would make additional investment of up to Rs. 100 crore as primary equity capital in McNally.
As per the deal , McNally would raise Rs. 100 crore through preferential allotment of 10
million new shares to EMC, says reports.EMC already has 12.5 per cent shareholding in the
company.
✍ Maruti Suzuki may increase Gujarat unit production: Reports - Maruti Suzuki is
reportedly planning to advance production from its Gujarat facility by three to six months. The
company may begin production from Gujarat in January 2017,says report. The construction of
the factory is under way. RC Bhargava, chairman of Maruti Suzuki reportely said that the effort
is to start the project soon and keep the cost down as far as possible.
✍ China assures stability in financial markets, economy - China over the weekend tried to
soothe frayed global nerves over its economy by saying that it's financial markets are expected
to remain stable and the renminbi is not on course for a long-term devaluation. China's top
financial officials told the group of 20 nations in Ankara, Turkey that its fiscal spending will
grow faster than expected this year. Finance Minister Lou Jiwei said that central government
spending will grow by 10% this year, more than the 7% growth budgeted at the start of the year.
China will raise dividend payments from designated state-owned enterprises to make up for any
shortfalls, according to an official statement. China's overall GDP growth will remain ~7%, as
predicted earlier in the year, and the new economic normal may last for 4-5 five years, Lou
said.
✍ PSUs increase efforts to buy overseas energy assets : Report - Public sector companies
such as ONGC Videsh Ltd. have reportedly stepped up efforts to scout for oil & gas assets
abroad and have already signed confidentiality agreements for ~6 potential projects. In one
such instance, OVL said last week that it was buying a 15% stake in a unit of Russia’s OAO
Rosneft for US$1.3bn. Agreements on the deal were reached during a meeting between Russian
President Vladimir Putin and Indian Prime Minister Narendra Modi in Ufa in July. According
to ONGC’s Perspective Plan 2030, the company is aiming to produce more than 130 million
tonnes (mt) of oil equivalent by 2030, of which half will come from assets owned by
OVL.According to reports, Indian PSUs in the energy space have a presence in more than 20
countries, with a total investment of US$13bn. OVL has a production of 167,000 barrels of oil
& oil equivalent gas per day and total reserves of ~647 mt of oil equivalent from its 36 projects
in 17 countries. OVL’s target is to reach 20 mt by 2018 and 60 mt by 2030.
✍ Maruti developing new platform for Swift, DZire, Ertiga: Report - Maruti Suzuki India
is reportedly planning complete overhaul of its popular models such as the Swift, the Swift
Dzire and the Ertiga as part of its strategy to double annual sales to 2 million units by 2020.
The new platform that Maruti is developing has reportedly been code-named YSD. The first car
based on this platform will be a revamped Swift, which will be launched by 2018, according to
a business newspaper. Maruti reportedly plans to sell 700,000 units globally every year by 2020
based on the new YSD platform. The cars from the new platform will be made in the
company’s Gujarat plant, which will be operational in 2017, the paper said.
✍ Amara Raja to commission AP tubular battery plant by Dec 2015 - Amara Raja
Batteries plans to commission the tubular battery plant at Nunegundlapalli in the Chittoor
district of Andhra Pradesh by December 2015, Vice-Chairman and MD Jaydev Galla told
shareholders. The four-wheeler automotive battery plant will help to enhance the company's
market share, he added. In March 2015, the company had commissioned a four-wheeler battery
plant at the same location. The plant was formally inaugurated by Andhra Pradesh Chief
Minister N Chandrababu Naidu in May 2015.“The full impact of volumes from this plant
would be seen in the current financial year," Galla said at the company's 30th Annual General
Meeting .
✍ IndusInd Bank slips; RBI removes company from caution list - Shares of IndusInd Bank
was lower by 0.27% on reports that Reserve Bank has removed IndusInd Bank from its caution
list, allowing foreign investors to buy further shares in the lender. The stock opened at Rs.850
as against the previous close of Rs.840 on BSE. It has hit a high of Rs. 860 and a low of Rs.
835 on BSE today. Total traded quantity on the counter stood at over 1.23 odd-shares on BSE.
The stock opened at Rs.850 as against the previous close of Rs.840 on BSE. It has hit a high of
Rs. 860 and a low of Rs. 835 on BSE today. Total traded quantity on the counter stood at over
1.23 odd-shares on BSE.
✍ Vijaya Bank reduces base rate by 0.15%; stock down - Shares of Vijaya Bank was lower
by 0.14% after the bank announced that it has reduced its base rate by 0.15 per cent to 9.85 per
cent. The stock opened at Rs. 35 as against the previous close of Rs. 35 on BSE. It has hit a
high of Rs. 35 and a low of Rs. 35 on BSE today. Total traded quantity on the counter stood at
over 0.11 odd-shares on BSE.
✍ Texmaco Rail dips marginally after UGL likely to exit locomotive Jv - Shares of
Texmaco Rail Ltd were trading marginally lower at Rs. 112 on BSE today. According to
reports, the company partner UGL is likely to exit locomotive JV on low demand. The stock
opened at Rs. 112.20 as against the previous close of Rs. 112.25 on BSE. It hit a high of Rs.
112.25 and a low of Rs. 109 on BSE today. Total traded quantity on the counter stood at over
1,829 odd-shares on BSE.
✍ ITC plans to offer distribution networks to startups : ITC is reportedly planning to offer
its distribution network, to startups and smaller FMCG companies, says report. Report says that
the company is planning to acquire stake in some of these smaller companies.The company has
created a separate division for distribution. Earlier, distribution was part of the firm's cigarette
division called India Tobacco Division.
✍ Aircel eyes Rs. 1800 crore revenue in next 5 years - Aircel is eyeing a revenue of Rs. 1800
crore by doubling its subscriber base in Assam to 10 million over next five years, according to
reports. According to reports, the company plans to add more 4 lakh customers by the end of
this month, in order to improve the position of the company further. The company currently has
46 lakh subscribers in Assam holding a second largest position in the state. "There is a huge
potential in Assam. The tele density of the state is 54 per cent compared to that of 77 per cent
for pan-India level.” Aircel Business Head (Assam Circle) Dibyajyoti Khaund was quoted as
saying. The income of the company from each subscriber is around Rs 147 per month and it is
going up every year.
✍ Govt to curb prescription and sale of antibiotics - The government may issue restrictions
on prescription and sale of commonly used antibiotics, according to reports. Report says that
this move is part of the new global strategy, adopted by all member countries of the World
Health Organization, to fight drug-resistant diseases. The doctors and chemists will have to
follow certain mandatory protocols and guidelines while prescribing antibiotics, says report.
✍ Vedanta plans to ramp up aluminium production - Vedanta is planning to step up metal
production at its Jharsuguda smelter, according to reports. Report says that this has been made
possible by an interim order of the Odisha Electricity Regulatory Commission . "A few
formalities remain to be completed with the state and regulators ," Abhijit Pati, chief executive
of Vedanta's aluminium business was quoted as saying.
✍ Kotak Mahindra Mutual Fund launches Capital Protection Oriented Scheme-Series 1
-Kotak Mahindra Mutual Fund introduced the Kotak Capital Protection Oriented
Scheme-Series 1, a close-ended income scheme. The new fund offer opens for subscription on
September 7 and will close on September 21, 2015. No entry load and exit load will be
applicable for the scheme. The minimum subscription amount is Rs. 5,000. The scheme’s
performance will be benchmarked against customised index–CRISIL Composite Bond Fund
Indexband CNX Nifty and its fund managers are Abhishek Bisen and Deepak Gupta. The
investment objective of the scheme is to seek capital protection by investing a portion of the
portfolio in highest rated debt securities and money market instruments and also to provide
capital appreciation by investing the balance in equity and equity related securities.
✍ J&K Floods; insurers disbursed Rs. 2,500 cr as insurance claims - Insurance companies
in Jammu and Kashmir are the biggest contributors to the city’s rehabilitation after the floods
and have disbursed around Rs. 2,500 crore as insurance claims. “As of now the insurance
companies have disbursed around Rs 2,500 crore as claims,” said Sheikh Ashiq Hussain,
chairman, Kashmir Chamber of Commerce and Industries. The chamber had filed a public
interest litigation with the J&K High Court after the floods seeking direction to the insurance
companies for immediate release of 50 per cent of insured sums. “They have settled most of
the claims. There are some individual cases which are yet to be settled,” said Hussain. The
amount disbursed by the insurance companies is more than the amount disbursed as relief by
the state government. The J&K government has, so far, disbursed over Rs. 250 crore as relief to
the people affected by the floods across the valley. The settlement of these insurance claims,
however, came after the intervention of J&K High Court following the PIL by the KCCI.
Britannia to invest Rs. 1.25bn on AP agro-processing plant ✍ - Britannia Industries Ltd will
invest INR 125 crore on the first phase of a proposed agro-processing facility in the Chittoor
district of Andhra Pradesh. The facility will service Chennai and Bengaluru markets, which are
160km and 180km away, respectively, according to a statement from the Andhra Pradesh
government. Varun Berry, Managing Director of Britannia called on Andhra Pradesh Chief
Minister N. Chandrababu Naidu at Vijayawada on Monday. The first phase of the facility is
expected to be commissioned by the end of 2016, Berry told Naidu. During the meeting, Naidu
also suggested Britannia to explore options in the dairy sector. “To improve dairy production,
we are giving back-end subsidy on fodder cultivation,” he said.
✍ Cairn India looks to boost offshore activity on crude fall : - Cairn India Ltd is
reportedly stepping up activity across its four offshore oil & gas assets to take advantage of low
exploration costs following the sharp fall in crude oil prices. According to reports, Cairn India
along with ONGC floated 10 tenders to shortlist companies that can offer a host of services to
one block along the western coast and three along the eastern coast. Of the blocks, CB-OS/2
located in the Cambay basin off the coast of Gujarat and Ravva located off the coast of Andhra
Pradesh are producing blocks. Two others, located in the Krishna-Godavari (KG) basin and
Pennar-Palar basin in Tamil Nadu, are under development. ONGC is Cairn India’s partner in
three of the blocks. In the K-G basin, Cairn India has 100% stake.
✍ L&T plans to restructure top management - Engineering major Larsen & Toubro is
reportedly planning to restructure its top management. Report says that this move comes as part
of its succession plan and will do away with the position of 'managing director and chief
executive officer' in its current form. The succession plan may be announced in October and
will see appointment of chief executive officers for different businesses who would report
directly to Naik, says report. "There's no need for the post of MD and CEO and we will be
making some changes to restructure our top management, " says chairman AM Naik.
✍ GSK Pharma starts work on Rs. 10bn Karnataka mfg unit - Work on GlaxoSmithKline
Pharmaceuticals' new Rs. 1,000 crore pharmaceutical factory at Vemgal in Karnataka started on
Tuesday. The facility will be built on a 50-acre site in Vemgal. Karnataka Chief Minister
Siddaramaiah laid the foundation stone in the presence of UK's Minister of State for Trade and
Investment Francis Maude. It will be fully operational in 2017 and will make more than 8
billion tablets and 1 billion capsules for the Indian market. The facility will also include a
warehouse, site infrastructure, employee welfare centre and utilities to support the
manufacturing and packing of medicines.
✍ Steve Waugh launches online realty platform for NRIs - Australian cricket star Steve
Waugh has launched an online real estate platform targeting non-resident Indians. The venture,
called Waughglobal.com, will also offer online courses for brokers and agents. The minimum
ticket size for listings on the website will be US$50,000. Waugh has partnered with his
investment banker friend Dean Honan for his India foray. The company has already partnered
with top developers like Lodha, Godrej, Shapoorji Pallonji, Brigade, among others to list their
properties on its website. Waughglobal.com is also looking to offer ancillary services such as
bank finance, property management and other required assistance for high networth clients.
Top Economy news
Delhi-based National Housing Bank is working to set up more than 80 new housing finance
companies with a special emphasis on those that will focus on financing affordable houses.
Textile industry body Cotton Textiles Export Promotion Council has urged the government to
extend benefits for garments exporters some more time to help them compete with players in
the countries India has signed free trade agreements with.
Central government is preparing an "action plan" for transferring the fertiliser subsidy directly
to farmers, Minister of State Hansraj Ahir said.
Maharashtra, which is reeling under severe drought, has witnessed sharp rise in demand for
power. State's demand as on September 6 has risen to 18,058 MW including state distribution
utility MahaVitaran's demand of 15,891 MW and 2,167 MW of Mumbai due scanty rainfall and
extended summer in most parts of the state.
At the close of bidding in the e-auctions for private FM Radio channels under the Phase III
expansion, 97 channels in 56 cities became provisional winning channels with cumulative
provisional winning price of about Rs11.6bn.
Coffee exports jumped by 14% to 0.143mn tonnes during April-August period of this fiscal
from 0.126mn tonnes in the year-ago period despite lower global prices, according to the
Coffee Board.
TRAI is considering making it mandatory for telecom operators to disclose their network
capacities periodically, as the regulator feels that call drop problem needs to be examined in
entirety.
Fairness creams are again under scrutiny with the Maharashtra Food & Drug Administration
issuing notices to Chandigarh-based pharmaceutical company Torque Pharma over the latter's
attempts to position its steroid-based fairness creams as over-the-counter products.
Steroid-based drugs or creams have to be prescribed by a doctor, which means these cannot be
advertised at all.
Natural rubber market got into doldrums as the Kerala government's market intervention
program miserably failed. Though the state government requested Rs10bn under the price
stabilisation scheme, Union government has so far not sanctioned funds for bailing out the
million plus rubber growers. RSS-4 grade rubber quoted Rs111/Kg, lowest during last 12
months.
Cotton output in India is likely to drop by up to 15% this year due to insufficient rain and pest
attack in two cotton-growing regions of the country. In Gujarat, a major cotton-producing state,
the crop has been hit by weak rainfall after a good sowing period, when the monsoon was
strong. Rainfall in the region has been patchy and 28% below normal.
Rainfall has been 13% below normal so far this season, with peninsular India being the driest,
registering a 22% shortfall since June 1.
Directorate General has recommended provisional safeguard duty of 20% ad-valorem for
period of 200 days on imports of hot-rolled flat products of non-alloy and other alloy steel in
coils of a width of 600 mm or more into India with immediate effect.
The Cabinet has approved guidelines on telecom spectrum trading, arising from the
recommendations of the Telecom Regulatory Authority of India .
The Cabinet permitted 100% foreign direct investment under the automatic route for white
label ATM operations, a move that is aimed at promoting financial inclusion.
Top Corporate News
Reliance Industries has successfully tested presence of natural gas in one of the two KG-D6block natural gas discoveries which the sector regulator DGH had previously refused torecognise.
Aurobindo Pharma has received final approval from US health regulator to make and sell inAmerica the generic Telmisartan tablets used for treating hypertension.
Multiplex operator PVR Ltd said it has approved an amalgamation scheme between BijliHoldings Pvt Ltd and itself to simplify PVR's shareholding structure.
Suzlon Energy board has sought shareholders' approval to raise up to Rs50bn through the issueof securities.
Cipla said it will acquire two US-based pharma companies, InvaGen Pharmaceuticals andExelan Pharmaceuticals, for USD550mn in an all-cash transaction.
Glenmark Pharmaceuticals said it has received final approval from the US health regulatorfor Voriconazole Tablets, used to treat fungal infections.
Wockhardt will continue to strengthen its R&D capabilities to develop innovative andtechnologically advanced medicines. The firm has set up three world-class, multi-disciplinaryR&D facilities in India, the UK and the US, which are engaged in studies and experiments todevelop new drugs and novel drug delivery systems.
Oil and Natural Gas Corp has paid just over USD1.25bn for a 15% stake in Russian oil majorRosneft's Vankor oil field, a source with direct knowledge of the deal said.
HDFC Bank is planning to add 100 branches in the eastern region, taking its total tally to 600branches by the end of ongoing financial year.
German consumer products company Henkel AG plans to buy a 26% stake in local fabricwhitener and detergent maker, Jyothy Laboratories.
Lupin Pharmaceuticals, has launched first ever generic Duloxetine DR (delayed-release)capsule in 40mg dosage strength.
Reliance Infrastructure arm Reliance Defence has signed MOU with Abu Dhabi ShipBuilding for the production of naval, military and commercial vessels. Under this MOU, boththe companies will investigate the opportunity to set up a strategic partnership for theconstruction of naval ships including frigates, destroyers and other specialized vessels toaddress the Gulf Cooperation Council over the next 10 years.
Credit rating of Gulf Oil Lubricants India Limited, a Hinduja Group Company, has beenupgraded by rating agency ICRA.
Britannia Industries Limited has expressed its interest in setting up an agro-processingfacility in Chittoor district of Andhra Pradesh. The company plans to commission the Phase I ofthe project in Chittoor district with an investment of Rs1.25bn by the end of 2016.
Tata Power plans to give a fillip to rooftop solar power generation and smart grids to managepeak demand in Delhi. Tata Power Delhi Distribution Ltd expects to manage peak-hour demandup to 500 MW in the next five years through its new initiatives without the need for signingnew contracts for power procurement.
Indraprastha Gas Limited has unleashed an intensive marketing campaign to chase agovernment-set target of adding 300,000 households in the current fiscal, more than half ofwhat it has achieved in 16 years of existence, but it is up against a messy urban planning and asluggish property market.
Mahindra & Mahindra is looking to enhance its market share in the utility vehicles segmentwith the upcoming compact SUV, TUV300 which is expected to be priced around Rs0.7-0.9mn.
Maruti Suzuki is planning a major overhaul of its bestsellers - Swift and Swift Dzire, in analtogether new avatar. In its new generation both Swift and Dzire will get an all new body and anew engine at the heart. Maruti Suzuki is also trying to advance commencement of Gujaratproduction facility by three to six months since the Gurgaon and Manesar plant in NCR regionwill reach optimum capacity by the middle of next year.
Tata Motors’ JLR India is hopeful of more than trebling its sales in the country on the back of"a tremendous response" for its SUV hatchback Discovery Sport.
JSW Energy Limited is all set to acquire Bina thermal power from Jaiprakash Power VenturesLimited for Rs35bn. The thermal power plant has installed capacity of 500 MW and havesufficient infrastructure to ramp it up to 1500 MW with marginal investment, two peoplefamiliar with the development told ET.
Indiabulls Housing Finance is planning to raise up to USD600mn by way of offering equityto institutional investors by way of Qualified Institutional placement .
Indian Overseas Bank has launched Rupay MUDRA Debit Card under the Pradhan MantriMUDRA Yojna, targeting the micro, small and medium enterprises.
Hindustan Unilever Ltd has signed an agreement for the sale and transfer of its bread andbakery business under the `Modern’ brand to Nimman Foods Pvt Ltd, an investee company ofthe Everstone Group.
Tata Power started work to set up its Rs4.5bn defence manufacturing facility in Karnataka.
Bank of Maharashtra said the bank will issue over 100mn shares to the government inexchange of capital infusion of Rs3.94bn.
LIC Housing Finance will raise up to Rs430bn via non-convertible debentures on privateplacement basis.
Yes Bank is planning to raise around USD1bn in 2016 to support its growth plans.
TVS Motor and Sundaram Clayton together planning to invest around Rs8bn in Tamil Nadu.
Mahindra & Mahindra is all set to launch an all-new vehicle TUV3OO, after a gap of nearly12 months when it launched the new generation Scorpio in September last year.
Hero MotoCorp began operations at a new facility in Columbia, the company’s first plantoutside India, which has been built at an investment of USD70mn.
Mangalore Refinery and Petrochemicals Ltd is in talks with Colombia's Ecopetrol to buyterm crude oil and is exploring purchases of Iraq's Basra Heavy grade to diversify supplies andimprove margins, its managing director said.
Power equipment maker Alstom said that the European Commission and the US Department ofJustice have approved the transaction with General Electric to acquire Alstom's energybusiness.
Mahindra & Mahindra Limited is signing an MoU with the Tamil Nadu government toinvest around.
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