Equity Research Report 28 September 2015 Ways2Capital

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

Today nifty future and bank nifty future future open at 7879/ 17308 and made high of 7933/ 17382 and low of

7832/ 17173 overall todays trend of nifty and bank nifty is bullish trnd. Nifty future and bank nifty future close at

7895/ 17295 we can make long postion in nifty future and bank nifty future. It conitnue in bullish trend above the

level of 7887 in nifty and 17283 in bank nifty. According to technical analysis if nifty futures and bank nifty future

moves up trend in tomorrow treading session then 7965 will be small resistance for nifty futures and 17443 for

bank nifty futures. If it break this level then then nifty futures can go to 8140 level and bank nifty futures can touch

17805 level in next few days. It will be hard resistance for nifty futures and bank nifty futures. Meanwhile in down

trend there is small support on 7813 for nifty futures and 17129 for bank nifty futures after breaking this level with

volume nifty will take support on 7735 level and bank nifty futures can touch level of 16760.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )NIFTY

DAILY R2 R1 PP S1 S28190 7988 7887 7786 7583

WEEKLY R2 R1 PP S1 S28808 8202 7889 7596 6990

MONTHLY R2 R1 PP S1 S29355 8359 7861 7363 6367

BANK NIFTY

DAILY R2 R1 PP S1 S217910 17492 17283 17074 16656

WEEKLY R2 R1 PP S1 S219959 18181 17292 16403 14625

MONTHLY R2 R1 PP S1 S222519 18821 16972 15123 11425

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7847 8183 8241 8405

BANK NIFTY 16817 17807 17990 18447

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7746 8483 8888BANK NIFTY 16538 18707 20614

NSE EQUITY DAILY LEVELS

COMPANY NAME R3 R2 R1 PP S1 S2 S3

ACC EQ 1439 1393 1368 1346 1322 1300 1253ALBK EQ 82 79 78 77 75 74 72AMBUJACEM EQ 215 211 209 206 201 202 199ASIAN PAINT EQ 859 830 818 801 789 773 744AXISBANK EQ 536 524 519 512 507 500 488BAJAJ-AUTO EQ 2384 2327 2303 2270 2246 2213 2156BANKBARODA EQ 197 192 189 187 184 182 177BANKINDIA EQ 142 139 137 135 133 131 128BHEL EQ 213 205 202 197 194 190 182BHARTIARTL EQ 347 340 336 334 330 327 321CIPLA EQ 668 656 650 644 639 633 621COALINDIA EQ 345 333 326 321 314 308 296DLF EQ 133 130 128 126 125 123 120DRREDDY EQ 4092 4030 3998 3967 3936 3905 3842GAIL EQ 332 313 303 293 283 273 254GRASIM EQ 3542 3491 3464 3440 3413 3389 3338HCLTECH EQ 1009 978 967 947 936 916 885HDFC EQ 1238 1205 1193 1172 1160 1139 1106HDFCBANK EQ 1110 1075 1063 1041 1028 1006 971HEROMOTOCO EQ 2485 2438 2409 2390 2361 2343 2296HINDALCO EQ 78 76 75 74 73 72 71HINDUNILVR EQ 808 795 789 782 776 770 757ICICIBANK EQ 282 276 272 269 265 262 256ITC EQ 337 328 325 319 316 310 302INDUSIND BANK EQ 990 954 941 918 905 883 847INFY EQ 1220 1177 1159 1134 1116 1091 1049JINDALSTEL EQ 65 62 61 59 58 57 56KOTAKBANK EQ 692 672 664 653 644 633 613LT EQ 1542 1497 1480 1470 1452 1442 1415M&M EQ 1290 1255 1241 1219 1206 1184 1148MRF EQ 42652 41980 41746 41309 41075 40638 39967MARUTI EQ 4793 4673 4624 4554 4505 4435 4316ONGC EQ 250 240 233 229 223 219 208ORIENTBANK EQ 137 134 132 131 129 127 124RCOM EQ 67 66 65 64 63 62 61RELCAPITAL EQ 389 368 361 350 343 332 314RELIANCE EQ 866 853 844 839 831 826 813RELINFRA EQ 363 349 343 335 329 321 307RPOWER EQ 44 43 42 41 40 39 38SBIN EQ 246 243 241 239 237 236 232SSLT( VEDL) EQ 103 99 97 95 93 90 86SUNPHARMA EQ 918 905 897 893 885 880 867TATAMOTORS EQ 326 315 309 305 298 294 284TATAPOWER EQ 72 68 67 64 63 61 58TATASTEEL EQ 229 223 219 216 212 210 204UNIONBANK EQ 189 184 182 179 177 175 170

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION )

1. DISHTV FUTURE : DISHTV FUTURE OPEN AT 114.45 CLOSE AT 114.05 MADE HIGH OF 115.95

AND LOW OF 113.80 WE CAN MADE LONG POSTION IN DISHTV FUTURE ABOVE THT

LEVEL OF 116 TGT 122 SL 113.

2. IDFC FUTURE : IDFC FUTURE OPEN AT 136.95 CLOSE AT 140.70 AND MADE HIGH OF 141.90

LOW OF 136.60. TODYAS TREND OF IDFC IS IN BULLISH TREND. WE CAN MADE LONG

POSTION IN IDFC ABOVE THE LEVEL OF 142.50 TGT 150 SL 137.

3. LUPIN FUTURE : LUPIN OPEN AT 1948.80 AND CLOSE AT 1988.55 MADE HIGH OF 2000.20

AND LOW OF 1948.80 ON DAILY CHART OF LUIPN STRONG RESISTENCE BREAK AT THE

LEVEL OF 1950 WE CAN MADE LONG POSTION IN LUPIN ABOVE THE LEVEL OF TODYS

HIGH OF 2000 TGT WILL WE 2080 SL 1940.

4. INDUSIND BANK FUTURE : INDUSIND FUTURE OPEN AT 910.50 CLOSE AT 925.95 MADE

HIGH OF 936 AND LOW OF 895.50.TODAYS MOVMENT OF INDUSIND BAND IS IN BULLISH

TREND WE CAN MADE LONG POSTION IN IT ABOVE THE LEVEL OF 936 TGT WILL WE 980

SL 900.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1GUJARAT GAS 646 533.55 -17.41

2 AMTEK AUTO LTD 52.40 45.20 -13.75

3KAYA LTD 1207.95 1049.70 -13.10

4 PC JEWELLERS 387.90 345.85 -10.84

5EMAMI LTD 1218.65 1095.75 -10.08

6 ADANI PORTS 332.80 301.85 -9.30

7SE INVESTMENTS 275.05 249.60 -9.25

8 TATA MOTORS LTD 334.10 303.40 -9.19

9DEWAN HOUSING 221.25 204.60 -7.53

10 NMDC LTD 102.15 94.75 -7.24

11 BAJAJ FINANCE LTD 5246.95 4868.10 -7.22

12 JSW STEEL 947.45 880.30 -7.09

13 CORPORATION BANNK 47.50 44.15 -7.05

14 BAJAJ FINSERV LTD

1874.35 1744.90 -6.91

15 TORRENT PHARAM 1502.40 1400.70 -6.77

SR.NO SCRIPT NAME PREVCLOSE

CMP % CHANGE

1IDBI BANK LTD 56.65 73.90

+30.45

2 JP ASSOCIATES LTD 9.20 11.60 +26.09

3ARTI INDUS LTD 415.15 492.35

+18.60

4 SOUTH INDIAN BANK 20.05 23.50 +17.21

5WALCHANDNAGAR 128.00 149.10

+16.48

6 TORRENT POWER LTD 156.60 181.60 +15.81

7RAJESH EXPORTS LTD 426.75 488.45

+14.46

8 NCC 56.85 64.90 +14.16

9 CADILAHEALTHCARE 1794.45 2038.80

+13.62

10 MINDTREE LTD 1374.80 1560.30 +13.49

11KAJARIA CERAMICS 702.75 789.55

+12.35

12 PIFZER LTD 2292.15 2573.25 +12.26

13UCO BANK 41.70 46.70

+11.99

14 DCB BANK 127.70 141.90 +11.12

15IDFC LTD 128.05 140.70

+9.88

5. VAKRANGEE ( CASH ) : VAKRANGEE NSE CASH GAINED 15% THIS WEEK AND MADE

HIGH OF 129.50. IF IT BREAKS THIS LEVEL THEN MORE UPSIDE MOMENTUM CAN BE

SEEN. LONG POSITIONS CAN BE MADE ABOVE THE LEVEL OF 129.50 WITH TARGET OF 135

AND SL OF 125.

6. DCB BANK ( CASH ) : DCB BANK NSE CASH GAINED 9.5% THIS WEEK , IF IT CONTINUES

TO TRADE ABOVE 142.50 THEN THE LEVELS OF 150 POSSIBLE .LONG POSITION CAN BE

MADE WITH TARGET OF 150 AND SL OF 135.

7. SUNTV ( CASH ) : IN SUNTV LONG POSITION CAN BE MADE ABOVE 381.50 LEVEL WITH

TARGET OF 399 AND SL OF 365.

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

SEBI probing price manipulation in Castex Tech : Report - Capital market regulatorSEBI has reportedly started a probe into auto parts maker Castex Technologies, after investors

alleged it manipulated its stock price to trigger the conversion of bonds into equity. Castexs

stock price more than quadrupled in the quarter ending June, triggering the mandatory

conversion of US$130mn of bonds into companys equity. Its shares subsequently plunged,

sparking concerns about a possible manipulation of share prices. The stock soared from April to

June but lost 90% of their value from a peak of INR 363.10 on 13th July. Last week, Castex

denied in a stock exchange filing that it had engaged in "unfair practices". London-based law

firm Quinn Emanuel Urquhart & Sullivan is representing the Castex bondholders.

Tata Steel raises Rs. 41bn via sale of non-core assets - Tata Steel has raised more thanINR 4,100 crore through the sale of non-core assets so far in FY16 as part of efforts to cut its

debt burden. Last week, it sold 1.33 per cent stake in Tata Motors to institutional investors for

INR 1,250.69 crore. It also sold a similar stake in Tata Motors to Tata Sons for INR 1,249.99

crore as part of portfolio restructuring. This is over and above the INR 1,000 crore that it raised

in the April-June quarter through equity liquidation and INR 637.46 crore in August by selling

stake in Titan. In all, Tata Steel has raised around INR 4,138.01 crore since April. During an

investor call in August, Tata Steels Group Executive Director (Finance and Corporate)

Koushik Chatterjee said that the company in the last 5-6 years had raised ~INR 15,000 crore

through the monetisation of strategic, non-core and listed assets.

Shree Renuka Sugars climbs 0.8%; promoters to sell share - Shares of Renuka SugarsLtd ended higher by 0.8% to Rs. 7.52 on reports that three promoters of the company have

together pledged 14.45% of their shares in the company as a security for loan taken by a

subsidiary firm. The stock opened at Rs.7 as against the previous close of Rs. 7.46 on BSE. It

has hit a high of Rs.7 and a low of Rs.7.39 on BSE today. Total traded quantity on the counter

stood at 2 lk shares on BSE

Reliance Inds slips 1.2% after block deal - Shares of Reliance Industries were tradinglower 1.2% at Rs. 867 on NSE today. Around 2 lakh shares were traded in a single block at Rs.

874.50 on the BSE. The stock hit a high of Rs. 884.45 and low Rs. 865.85 and the quantity that

was traded was 2.97 lk.

Torrent Power's plants may get gas subsidy; up 2% - Shares of Torrent Power werehigher by 3% to Rs. 168 after reports said that its gas-based power plants will get government

subsidy on use of re-gasified liquefied natural gas ( RLNG) for six months from October to

March. The stock opened at Rs.166 as against the previous close of Rs. 164 on BSE. It has hit a

high of Rs.170 and a low of Rs. 166 on BSE today. Total traded quantity on the counter stood at

over 0.34 lk shares on BSE.

Shree Renuka Sugars climbs 0.8%; promoters to sell share - Shares of Renuka SugarsLtd ended higher by 0.8% to Rs. 7.52 on reports that three promoters of the company have

together pledged 14.45% of their shares in the company as a security for loan taken by a

subsidiary firm. The stock opened at Rs.7 as against the previous close of Rs. 7.46 on BSE. It

has hit a high of Rs.7 and a low of Rs.7.39 on BSE today. Total traded quantity on the counter

stood at 2 lk shares on BSE.

Dena Bank launches MUDRA Card - Dena Bank, Indias trusted bank, launched MUDRACard in a function organized at Head Office on 19thSeptember. The programme was presided

over by Ashwani Kumar, Chairman & Managing Director, Dena Bank; Trishna Guha,

Executive Director; and R K Takkar, Executive Director. Ashwani Kumar, CMD has handed

over MUDRA Cards to 09 Pradhan Mantri MUDRA Yojana (PMMY) beneficiaries. While

interacting with the media, Ashwani Kumar, CMD has emphasized the need of popularizing

MUDRA Loans which has been launched by Honorable Prime Minister on 08th April 2015

with the purpose of Funding the Unfunded. Ashwani Kumar informed that, Bank has already

sensitized the field functionaries for extending finance under Shishu, Kishore & Tarun

segments of MUDRA Loans. Dena Bank has been assigned target of Rs 605 crores by GoI for

financing under Pradhan Mantri MUDRA Yojana (PMMY). Dena Bank has already started

financing under the scheme and up to 18.09.2015 Bank has extended MUDRA loans to 9,128

borrowers amounting to Rs 166.54 crores. Banks has planned to arrange Special Credit Camps

all over India during 25.09.2015 to 02.10.2015 for extending MUDRA loans, with special

emphasis on hishu Category.

L&T Finance sells 5.3% to Bain Capital - L&T Finance Holdings sold 5.27 per centpromoter stake to leading private equity firm Bain Capital through an issue of preferential

shares and warrants for about Rs. 708 crore, says report Report says that the company's board is

planning to raise capital (Rs 707.87 crore) by way of preferential issue of eligible securities and

warrants to Bain Capital Investments VI and Bain Capital Asia Growth Investments The

company would issue an aggregate of 9,56,57,961 equity shares and warrants at Rs 74 per

share/warrant, says report.

State Bank of Mysore cuts Base Rate by 10 bps to 9.90% - State Bank of Mysore hasinformed BSE that the Bank has revised downward the Base Rate of the Bank from 10% to

9.90% to be effective from September 21, 2015. The Bench-Mark Prime Lending continues to

be at the same level of 15%. On Saturday, YES BANK has reportedly reduced rates on some

term deposits by 25 bps while Vijaya Bank is said to have reduced rates on some bulk deposits

by 25 bps.

Rajesh Exports plans to market designer jewellery in European and American markets- Rajesh Exports has developed a special range of designer jewellery suitable to the local

European and American markets. The company said that with the acquisition of Valcambi, the

company has one of the strongest global brands to support its distribution process to the high

end stores of Europe and North America. REL will be dispatching the range of specially

produced designer jewellery to Valcambi and Valcambi through its extensive marketing

network and by utilising the strog brand value commanded by its products will be in a position

to distribute the designer jewellery produced by REL to the high end European and North

American markets. Rajesh Exports had acquired Valcambi in July 2015.The stock of the

company closed up 3.3% at Rs. 419.The stock hit a high of Rs. 422 and low of Rs. 394 on BSE

today. The total traded quantity was 1.99 lakh shares and two-week average quantity is 2.50

lakh.

ShopClues targets Rs. 1,500 cr in sales this Diwal - ShopClues.com expects to sellmerchandise worth INR 1,500 crore between October and November, which will be nearly ten

times over the sales clocked during last year's Diwali season. The online retail marketplace, run

by Gurgaon-based Clues Network Pvt. Ltd., is also targeting an annualized GMV of US$1.2

billion by the end of March 2016. ShopClues.com currently has a run rate of

US$550mn. ShopClues.com, which recently touched a seller base of 250,000, was founded by

Sandeep Aggarwal, Radhika Aggarwal and Sanjay Sethi in 2011. Shop Clues.com currently

gets about one-fourth of its business from home and kitchen products. ShopClues.com currently

gets more than 60 million monthly visitors on its web site and has more than 30 million listed

products.

Amtek Auto in talks with banks to restructure debt; up 1% - Amtek Auto Ltd iscurrently trading at Rs. 46, up by 1% from its previous closing of Rs. 45.85 on the BSE. The

company has Clarified that it is in advanced discussions with various Banks and Financial

Institutions for re-alignment of its debt obligations. The scrip opened at Rs. 44.65 and has

touched a high and low of Rs. 47.6 and Rs. 44.25 respectively. So far 4197110 shares were

traded on the counter. The current market cap of the company is Rs. 1030.5 crore. The BSE

group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 242.95 on 22-Sep-2014

and a 52 week low of Rs. 25.2 on 04-Sep-2015. Last one week high and low of the scrip stood

at Rs. 55.45 and Rs. 41.5 respectively. The promoters holding in the company stood at 48.98 %

while Institutions and Non-Institutions held 35.3 % and 15.72 % respectively. The stock is

currently trading above its 200 DMA.

Dai-ichi plans to boost investment in Indian insurance biz - Dai-ichi, Japan's largest lifeinsurer, is planning to grow its investment in India. The company, which is present in India

through a JV with Bank of India and Union Bank of India, also said that it was keen to increase

its shareholding in the JV."I think right now it is the period of adjusting the life insurance

industry in the country," Dai-ichi Life Insurance Company's global president Koichiro

Watanabe has been quoted as saying. Dai-ichi wants to be among the top five life insurers in

the world by 2020. The company is currently in the last stage of discussion for further

investment plan in India. The life insurance sector in India is full of growth potential. It is due

to the strong structure, demographic condition and socio-economic condition prevailing in the

country. So, I am of the firm belief that the industry here will grow like anything in future,"

Watanbe said.

CarTrade plans to acquire CarWale - Online automobile classifieds firm CarTrade is intalks to acquire rival CarWale Group for about $120 million, or approximately Rs 790 crore,

according to reports Report says that the formal announcement is expected to come in a few

weeks CarTrade promoter Vinay Sanghi declined to confirm the development. If the deal is

struck, this would be the second big consolidation in the automobile classified space, says

report.

Tata Group plans to create potential future leaders - The Tata group has launched initiative to create pipeline of future leaders who will be mentored by multiple chief

executives, according to reports Report says that this move is aimed at preparing potential

leaders to tackle rapidly evolving business climate The group plans to more than double market

value to $350 bn in a decade as part of chairman Cyrus Mistry's Vision 2025, says report

"Handholding for one year is not enough. When you are grooming future leaders you need to

be involved for longer periods," NS Rajan, group chief human resources officer at Tata Sons

was quoted as saying.

Top Economy news

Cotton textile exports dipped seven per cent in August to $863 million against $932 million in

the same period last year. Exports in the last five months of this financial year were down two

per cent at $4.24 billion against $4.34 billion in the same period last year.

The DoT has exempted use of wireless frequencies from licensing requirement for short-range

microphones. The Wireless Planning and Coordination Wing -- the custodian of spectrum -- in

its latest notification exempted very low power equipment for wireless microphones, that can

be used in the frequency band of 36 to 38 MHz, from licensing.

Four hikes in excise duty on petrol and diesel between November 2014 and January 2015 have

generated an additional revenue of Rs300bn in the first five months of the current fiscal.

Besides, the hike in clean energy cess from Rs100 to Rs200 per tonne of coal,

Government has nominated Anna Roy, Joint Secretary in Finance Ministry, on the board of

Bank of India and India Infrastructure Finance Company Ltd .

The food ministry on Friday set the minimum indicative export quota for manufacturers to

export 4mn tonnes during the next sugar season starting next month. Millers in Uttar Pradesh

have to export 1mn tonnes while manufacturers in Maharashtra will need to export 1.3mn

tonnes.

After over a year, domestic natural gas production increased by 3.66% to 2.836 billion cubic

meters in August this year. In the same month last year, the production was 2.736 billion cubic

meters.

National Bank for Agriculture and Rural Development has sanctioned RIDF assistance of

Rs11.3bn for Odisha. The sanctioned amount included Rs10.4bn for two important mega

projects for drinking water and lift irrigation in the state.

Andhra Pradesh is set to house India's first National Investment and Manufacturing Zone after

the state assured the Centre of availability of 10 sq km of land in one place in Prakasham

district.

A 29.5% on-year fall in engineering exports to $4.49 billion in August has hit as much as 73%

of the engineering segments according to an analysis by EEPC India. Steel, iron, non-ferrous

metals, industrial machinery, auto components and bi-cycle parts are among the most affected

segments. India's engineering exports to 21 countries fell in August, while just four - Singapore,

Germany, Malaysia and the Netherlands - posted an increase.

The yearly SBI Composite Index reading for September 2015 has come in at a four month high

at 53.9, suggesting continued pick-up in economic momentum going forward. Last month, the

index was at 53.4. The upturn has been majorly driven by manufacturing, while mining and

electricity are still acting as a drag on economic activity, SBI said in its Ecowrap report.

Telangana inked an agreement to purchase 1,000 MW of electricity from neighbouring

Chhattisgarh. The two states in November last year had signed a memorandum of

understanding on the issue. As a follow-up to the MoU, the PPA was signed which will remain

in force for 12 years.

The Centre raised the production target for the 2015-16 rabi crop season to 132.78 million

tonnes from 130.75 mt last year. The roughly 1.6% increase in output is on the basis of inputs

from all the states and greater soil moisture on account of the September showers.

Indian carriers registered an 18.66% increase in the total number of passengers carried during

the month of August this year, as compared to the same month last year, and flew about 6.8

million passengers during the month. The increase in number of passengers carried by airlines

in August follows a high-growth month of July, when airlines registered a 29.31% increase in

passengers flown.

Top Corporate News

Wind turbine manufacturer Suzlon has bagged contracts from SMEs and public sectorundertakings to supply 50 turbines of 2.1 MW each in various parts of the country. Suzlon willsupply its multi-megawatt S95-90m, S97- 90m, S97-120m turbines and will leverage on itsturnkey wind solutions expertise to oversee the project operations from start to end.

Bharti Airtel has signed an agreement to use Liquid Telecom's fibre network to connect itsmobile base stations across Africa, which will let its subscribers in the region to access betterspeeds on its 3G and 4G networks. The company, however, did not share the financial details ofthe deal.

Pune based Sterlite Technologies is set to acquire Elitecore Technologies, a provider ofoperations and business support services for an overall enterprise value of around Rs1.8bn in anall-cash deal.

Orient Green Power Co Ltd has raised Rs2.5bn from existing promoter Shriram Venture Ltdand its subsidiaries and financial investors, including EW Special Opportunities Fund II andEcap Equities, through preferential allotment.

Industrial group Larsen & Toubro is looking to sell some assets including roads andinfrastructure projects and dilute its stake in non-core subsidiaries to revive performance. Thecompany will also appoint individual unit chief executives and individual boards to encourageindependence and boost returns among its more than 70 businesses.

Ending months of uncertainty, Pfizer is set to sell its vintage plant in Thane to little-knownVidhi Research and Development for Rs1.8bn. The Thane facility is one of Pfizers oldest andwas commissioned in the 1960s.

Rural Electrification Corporation signed an MoU with Andhra Pradesh power utilities toextend a fresh loan of Rs90bn. The Central public sector enterprise, set up with a mainobjective of financing rural electrification projects in the country, had already extended loans tothe tune of Rs280bn for various projects in Andhra Pradesh.

Britannia Industries pensioners have won a decade-long battle, after a Bengaluru courtdirected the biscuits major to pay pensions to its former employees who retired after March2003 and also the triennial rise for them stopped in April 2004. Britannia had converted thedefined benefit pension scheme to defined contribution type with retrospective effect, to denythe pensioners dues since 2003, going against the existing fund rules.

SKS Microfinance announced a 1.25% cut in the interest rate to 20.75% with effect fromOctober 1 for all future disbursals. This is the third interest rate cut and an overall reduction of3.8% since October 2014.

Aditya Birla Group flagship firm UltraTech Cement said it has commissioned its grinding unitwith a capacity of 1.6 million tonnes per annum in Jhajjar, Haryana. With commissioning of thefirm's 13th unit, UltraTech's total cement capacity has reached 63.1 MTPA.

Rating agency Crisil has downgraded its outlook on Bharat Heavy Electricals Ltd's

long-term bank facilities to 'negative' from 'stable', saying that the company's project executionand profitability will remain vulnerable to structural issues plaguing the power sector. It,however, reaffirmed "AAA' rating for the long term facility and "A1+' for short term loans.

Bharti Airtel is moving all its prepaid mobile customers nationally to the more affordable 'persecond bill plan' starting Monday. A majority of Airtel's pre-paid mobile customers are alreadyon the 'per second billing plan', which ensures that customers pay only for the time they use theAirtel network.

L&T Halol Shamlaji Tollway, a 100% special purpose vehicle promoted by L&TInfrastructure Development Project, has defaulted on Rs10bn payment to lenders which wasdue in August due to cash shortage due to low toll collections. This is the second SPVpromoted by L&T Infrastructure Development Projects that has defaulted in recent weeks. L&TChennai Tada Tollway with Rs4.75bn loan defaulted due to difference on land acquisition withNational Highway Authority of India.

Automobile parts maker Amtek Auto said it is in advanced discussions with various banks andfinancial institutions for realignment of its debt obligations. However, the company did notshare further details.

IT major Infosys has won a Rs14bn contract from GST Network to build the IT system so thatthe goods and services tax regime is rolled out on schedule. The company is supposed to lay theIT-backbone to implement the GST regime. Once the backbone is ready, Infosys will operate itfor five years.

Leading NBFC L&T Finance Holdings sold 5.27% promoter stake to leading private equityfirm Bain Capital through an issue of preferential shares and warrants for about Rs7bn.

Wind turbine maker Suzlon Group said that its cumulative installations in Maharashtra havesurpassed 2,000 MW with over 1,900 windmills during the first half of the year. Suzlon'sprojects in Maharashtra are spread across eight districts in over 40 sites.

Engineering major Larsen & Toubro has bagged orders worth Rs18bn across various verticalsso far in this month, including an order worth Rs7.4bn from a leading real estate company toconstruct a commercial complex in Gurgaon.

SRS Ltd will invest up to Rs9bn in the next two years to expand retail network of its variousconsumer centric businesses such as hospitality, cinema, jewellery and real estate. It is alsoforaying into the pharmacy business with the launch of 30 'SRS Pharmacy' stores this year.

Aditya Birla Minerals Ltd will sell its closed Birla Mt Gordon copper mine in Queensland,Australia to Lighthouse Minerals Holdings Pty Ltd for around $10.75 million. BMG, located innorthwest Queensland, was set up to produce copper concentrate at around 1.4 million tonnesper annum. The operation has been put under care and maintenance since April 2013.

California-based BioMarin Pharmaceutical has entered into a settlement agreement with DrReddy's Laboratories to resolve patent litigation in the US regarding Kuvan, the former's100mg oral tablets.

Ahmedabad-based leading denim fabric maker, Nandan Denim Limited is set to raiseRs500mn by issuing 2.5 million fully convertible warrants to UK-based foreign institutionalinvestor, Polus Global Fund. As per an official statement by the company, the warrants will beconverted into equity shares at Rs 200 per share within 18 months time.

Sun Pharmaceuticals has sold the central nervous system product business of erstwhileRanbaxy to Strides Arcolab for Rs1.65bn. Under the deal, Solus and Solus Care divisions willbe transferred to Strides Arcolab, which will also absorb about 200 employees working in thesedivisions. The two divisions had an annual sale of about Rs0.92bn.

FMCG giant, ITC Ltd announced doubling its investment in Punjab from Rs7bn to Rs14bn.

Infrastructure finance firm, IDFC Ltd , said it had got regulatory approval to utilise Rs25bnnon-distributable reserves for provisions against bad loans as part of exercise to clean its bookbefore venturing into universal banking. IDFC said with these additional provisions, its networth will reduce by approximately Rs16bn.

ONGC Videsh Ltd, India's flagship overseas oil investment firm, is chasing foreigngovernments to get its $712 million of dues cleared. While Venezuela owes over $421mn inunpaid dividend on oil from San Cristobal project, Sudan is to pay OVL $192 mn for oil itbought from its Greater Nile Oil Project and another $99mn in unpaid pipeline rent lease.

Torrent Power said its gas-based power plants will get government subsidy on use ofre-gasified liquefied natural gas for six months from October 1, 2015 to March 31, 2016.

Tata Steel has raised more than Rs41bn through the sale of non-core assets so far this fiscal aspart of efforts to strengthen its balance sheet and generate cash. The firm said that it sold 1.33%stake in Tata Motors to institutional investors for Rs12.5bn.

The Jammu and Kashmir government has banned sale of Ambuja Cements in the state after aprobe found underweight bags and irrational product prices.

Hotel Leela has sold its marquee property, The Leela Goa to Malaysian company MetTubeSdn. Bhd. for Rs7.25bn. The Leela will continue to manage the property under its brand.

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