TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Nifty is continued in the negative trend from the beginning of
this week.. The 50-share index is opened on Monday at 7489. The latest trade figures out
of China eased some concerns over the health of the world's second-biggest economy.
China has a major adjustment problem, Oil prices dropped continuance after China posted
surprisingly Exports for the month fell 11.2 percent on year, compared to analyst
estimates of a 1.9 percent drop. Overseas investors are disappoint from the Indian stock
markets - on global growth worries and decline in oil prices. Economic data from China,
showing its manufacturing sector contracted at its fastest pace in almost three-and-a-half
years in January, However Asian shares started a new week on somewhat firmer footing,
helped by expecting better GDP growth rate of India. The crucial level for Nifty down
side is 6800 6980 and Upside is 7120 -7180. if the Nifty manages to sustain above the
7150 mark then we may witness a continuation of this move towards 7200 -7280 levels.
On the other hand, 6920-6800 are now seen as important Support levels, The major
resistance for Nifty is 7200 if the Nifty able to meet that point we could find the
comfortable zone for Nifty to move in the continues trend for Next week.
BANK NIFTY : - The Bank Nifty open in Positive trend on Monday trading session at
15206 up by 44 points or 0.6 per cent. The Bank Nifty is currently trading at 14425 up by
442 point or 3.17 per cent. Bank shares have remained a pain point for the stock market
over the past one year set by NPA issues and weak credit demand State-run banks like
SBI, Bank of Baroda, Central Bank of India, apprise PM Narendra Modi of rising bad
loans, capital requirements of state-run banks and the impact of bad loans on
profitability
in

were

upcoming

their

discussed. We are expecting the positive movement for Bank Nifty

weeks. The Support for Bank Nifty Is 14320-13800 and Resistance

is 14600-15020.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY
DAILY

WEEKLY

R2

R1

PP

S1

S2

7470

7135

6966

6798

6462

R2

R1

PP

S1

S2

9107

7789

7130

6471

5153

MONTHLY

R2

R1

PP

S1

S2

9347

7885

7154

7426

4961

R2

R1

PP

S1

S2

15044

14328

13970

13612

12896

R2

R1

PP

S1

S2

15982

14384

12786

9590

R2

R1

PP

S1

S2

19828

16242

14449

12656

9070

BANK NIFTY
DAILY

WEEKLY

19178
MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

7360

7590

7805

8040

BANK NIFTY

14067

14150

14450

14765

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

7485

7795

8310

BANK NIFTY

15250

17065

19230

PATTERN FORMATION ( NIFTY )

Detail of Chart On the On the Above given weekly chart of Nifty applied Bollinger Band along with Parabolic SAR. And the
Bollinger Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level
it has given the Gap up opening which is indicating the Bull movement for the Nifty the crucial Support for Nifty is
6800-6980 and the Resistance for Nifty is 7200-7280, if the Nifty is able to break the level of 7200 we may witness
the level of 7350 for next week.

PATTERN FORMATION ( BANK NIFTY )

Details of ChartOn the Above given weekly chart of Bank Nifty applied Bollinger Band along with Parabolic SAR. And the
Bollinger Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level
it has reverse on Bull side on the other hand on the creating dot Upside which is the signal for worry about the Bank
Nifty , however the Bank Nifty crucial Support is 13800 and the Resistance is 14500. if the Bank nifty is crossing
the 14000 level we may witness the 14500 level.

NSE EQUITY DAILY LEVELS

COMPANY NAME

ACC
ALBK
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
INFY
JINDALSTEL
KOTAKBANK
LT
M&M
MRF
MARUTI
ONGC
ORIENTBANK
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK

R2

R1

PP

S1

S2

EQ

1292

1279

1253

1240

1215

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
EQ

47
201
876
425
2357
147
96
111
334
546
323
93
2920
341
3589
843
1112
994
2559
67
830
206
307
854
1106
64
644
1185
1244
33478
3696
201
93
53.50
347
953
440
46
171
73
876
329
59
256
128.25

45
200
870
418
2342
141
93
108
327
542
319
90
2899
337
3544
832
1103
986
2533
66
823
203
305
839
1099
62
639
1139
1227
33159
3676
199
91
53
343
945
433
45
168
72
870
317
58
247
125.15

43
197
865
407
2329
129
90
105
322
535
313
86
2875
331
3464
821
1092
980
2513
64
815
198
303
832
1093
59
631
1124
1195
32729
3640
197
87
52.25
335
931
421
44
163
69
861
313
57
234
119.25

42
196
859
400
2314
123
88
103
314
531
309
84
2854
328
3420
810
1083
972
2488
63
808
196
301
825
1086
57
626
1094
1178
32410
3620
195
85
51.85
330
924
415
43
160
67
855
305
56
225
116.25

40
193
855
389
2301
112
84
99
309
524
302
80
2830
322
3340
799
1073
966
2468
61
799
191
299
818
1079
54
618
1079
1145
31980
3584
192
82
51.15
322
910
403
42
155
64
846
301
55
212
110.35

TOP 15 ACHIEVERS

SR.NO

PREV
CLOSE

SCRIPT NAME

CMP

//

% CHANGE

SR.NO

TOP 15 LOOSERS

SCRIPT NAME

PREV CLOSE

CMP

APOLLO TYRES

140.85

155.80

+10.61 %

SHIPPING CORPN. 80.30

60.20

BANK OF BARODA

122.95

135.62

+10.33 %

WOCKHARDT LTD. 1021.85

804.30

LUPIN LTD.

1652

1822

+10.32 %

JUST DIAL

453

EICHER MOTORS

16940

18579

+9.68 %

COX & KINGS LTD 204.85

166.40

BHARTI INFRA

355.90

389

+9.33 %

BHEL

106.10

IDEA CELLULAR

100

108

+8.35 %

4.10

NMDC LTD

81

87

+7.58 %

AXIS BANK LTD.

382

407

+6.52 %

ALOK INDUSTRIES4.94
L
PUNJAB
90.95
NATIONAL B
DELTA CORP LTD 68.15

EXIDE INDUSTRIES

121

129

+6.29 %

B F UTILITIES LTD. 500

427

10

CEAT LTD.

891

944

+5.86 %

10

SOBHA

290.40

249.65

11

BHARTI AIRTEL

304

321

+5.45 %

11

VOLTAS LTD.

273.75

237.25

12

TATA STEEL

226

237

+5.13 %

12

DENA BANK

33.35

28.95

13

PIRAMAL ENTERP.

925

972

13

UNITECH LTD.

4.93

4.29

14

JET AIRWAYS

529

556

+5.07 %

14

ONGC

220.10

196.60

15

ADANI POWER LTD

25.20

26.45

+4.96 %

15

CENTRAL BANK

60.15

54.05

+5.13 %

575

129.55

77.60
58.20

% CHANGE

-25.03 %
-21.29 %
-21.14 %
-18.77 %
-18.10 %
-17.00 %
-14.68 %
-14.64 %
-14.54 %
-14.03 %
-13.50 %
-13.19 %
-12.98 %
-10.68 %
-10.14 %

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION)

NSE CASH
1.

SUNPHARMA NSE CASH : BUY SUNPHARMA NSE CASH ABOVE 870 TGT 935 SL 840.

2.

SRINFRA NSE CASH : BUY SREINFRA NSE CASH ABOVE 53 TGT 58 SL 51

3.

GMRINFRA NSE CASH : BUY GMRINFRA NSE CASH ABOVE 12 TGT 13 SL 11.60.

4.

GODFRYPHLP NSE CASH : BUY GODFRYPHLP NSE CASH ABOVE 1040 TGT 1135 SL
995.

5.

SUVEN NSE CASH : BUY SUVEN NSE CASH ABOVE 185 TGT 200 SL 179.

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK
Demand slowdown! Higher OPEC output only partly offsets non-OPEC decline :Having peaked, at a five-year high of 1.6 million barrels per day in 2015, global oil
demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down
by notable slowdowns in Europe, China and the United States, the newly released IEA
Oil Market Report for February informs subscribers. Early elements of the projected
slowdown surfaced in the last quarter of 2015. Global oil supply dropped 0.2 mb/d to
96.5 mb/d in January, as higher OPEC output only partly offset lower non-OPEC
production. Non-OPEC supplies slipped 0.5 mb/d from a month earlier to stand close to
levels of a year ago. For 2016 as a whole, non-OPEC output is expected to decline by 0.6
mb/d, to 57.1 mb/d.
Economy to grow at 7.9% in fiscal 2017 - Indeed, 2016 has begun on an ominous note.
Both the International Monetary Fund and the World Bank have pared their global growth
outlook for the year amid increasing signs of debility in the emerging markets. And once
again, China has emerged as the epicentre of global risk and volatility. For India, such a
predicament cuts both ways. While a slowing world implies prices of crude oil and the
commodity complex will remain battered, which will bolster the fiscal math, sluggishness
in global demand will prolong the agony for exporters. That means the trigger for growth
in fiscal 2017 will come from within - or the domestic economy - and, as in the current
fiscal, another dose of good luck through low crude oil prices will be handy.
NBCC bags contracts worth Rs.2,525 crore in Jan - National Buildings Construction
Corporation Ltd ended at Rs. 949.45, up by Rs. 7.45 or 0.79% from its previous closing
of Rs. 942 on the BSE. The company has bagged business worth around Rs. 2,525.86
crore in the last month.
The scrip opened at Rs. 938.6 and touched a high and low of Rs. 958.8 and Rs. 938.6
respectively. A total of 131870 shares were traded on the counter. The current market cap
of the company is Rs. 11393.4 crore. The BSE group 'B' stock of face value Rs. 10
touched a 52 week high of Rs. 1214.5 on 06-Aug-2015 and a 52 week low of Rs. 682.6
on 09-Feb-2015. Last one week high and low of the scrip stood at Rs. 982.6 and Rs.
918.05 respectively.

RBI releases report on Introduction of Interest Rate Options - The Reserve Bank of
India today released the Report of the Working Group on Introduction of Interest Rate
Options in India. The key recommendations of the Group are, To begin with, simple call
and put Options, caps, floors, collars and swaptions may be permitted. Complex
structures may be introduced subsequently. Both OTC as well as exchange traded options
may be introduced. While in the OTC segment only European options may be permitted,
both American and European structures may be permitted on Exchanges. Fixed Income
Money Market and Derivatives Association of India/Financial Benchmark India Private
Limited may come out with the list of eligible domestic money or debt market rates as
benchmarks like G-Sec, T-Bills, MIBOR,OIS, MIFOR, IRF etc.
GDP growth continues ahead of expectations..Q3FY16 GDP at 7.3% - Real GDP or
Gross Domestic Product at constant prices in the year 2015-16 is likely to attain a level
of RS. 113.51 lakh crore, as against the First Revised Estimate of GDP for the year 201415 of Rs. 105.52 lakh crore, released on 29th January 2016. The growth in GDP during
2015-16 is estimated at 7.6% as compared to the growth rate of 7.2 per cent in 2014-15.
Real GVA, GVA at basic constant prices is anticipated to increase from `97.27 lakh crore
in 2014-15 to `104.38 lakh crore in 2015-16. Anticipated growth of real GVA at basic
prices in 2015-16 is 7.3 per cent against 7.1 per cent in 2014-15.
Real Estate's demands from the Union Budget 2016 - Real estate stakeholders in
every Indian city are looking forward to the upcoming financial budget 2016 to see
whether it will provide any relief to the sector. Developers have their own expectations,
because positive announcements for real estate buyers made during the budget will help
increase the market sentiment, and therefore sales. The general hope is that the budget
will provide cheer to intending home buyers who have been deterred for various reasons.
The Union Budget should make the rate of interest specific to home loans more
reasonable. Currently, the banks are offering interest rates which are still too high. Paying
so much interest has serious implications on the family budgets of most middle-class
wage earners. It is not surprising that many of them currently shy away from home loans.
1. Pune-based startup EPPS Infotech wants to change the market dynamics. Small and medium enterprises

normally have limited access to advanced

technologies, such as enterprise resource planning. They are sandwiched between

using either a modestly developed ERP solution offered by domestic players or
premium priced solutions offered by global multinationals. However, Pune-based

startup EPPS Infotech wants to change the market dynamics. It has launched an
innovative mobile ERP platform to cater to the largely unaddressed SME sector.
2. Raghuram Rajan set to discuss liquidity issue with bankers - Reserve Bank of
India governor Raghuram Rajan and his colleagues will discuss liquidity issue with
bankers on Tuesday, according to reports. Report says that the meeting will examine
why yields on other securities are out of sync with the repo or policy rate. RBI stated
that banks should manage their positions better and the central bank's job is to ensure
overnight rates are close to the policy rate, says report.
Liquidity crunch could indicate reviving economy: Credit Suisse - The liquidity
shortage in the money market could be an early indicator of a reviving economy as
month-on-month credit growth have started to track historic trends as 15 months of below
trend growth, Credit Suisse analysts Neelkanth Mishra, Prateek Singh and Ravi Shankar
said in a note on Tuesday.
India's GDP numbers are reliable: Kaushik Basu - India's GDP numbers are very
dependable and there is no "rigging" taking place with regards to data, World Bank's
Chief Economist Kaushik Basu reportedly said. Former Chief Economic Advisor
reported that a small slippage in the government's fiscal deficit target would be fine in the
current economic scenario. "Given the transparency, you have reason to have enough
confidence in the growth figures," Kaushik Basu said.
Make in India week is an opportunity to take stock of how we have performed: PM Prime Minister, Narendra Modi was addressing at the inauguration of the Make in India
Week, in Mumbai on February 13, 2016. When I look back at the launch of the Make in
India initiative over a year ago, I also recall the aspirations of our youth. 65 per cent of
the population of India is under the age of 35. This youthful energy is our greatest
strength. We launched the Make in India campaign to create employment and selfemployment opportunities for our youth. We are working aggressively towards making
India a Global Manufacturing Hub. We want the share of manufacturing in our GDP to
go up to 25 per cent in the near future.
Contraction! December IIP falls 1.3% YoY - The IIP for the month of December 2015
stands at 183.4, which is 1.3 percent lower as compared to the level in the month of
December 2014. The cumulative growth for the period April-December 2015 over the

corresponding period of the previous year stands at 3.1 percent. The Indices of Industrial
Production for the Mining, Manufacturing and Electricity sectors for the month of
December 2015 stand at 137.5, 192.0 and 183.2 respectively, with the corresponding
growth rates of 2.9 percent, (-) 2.4 percent and 3.2 percent as compared to December
2014 (Statement I). The cumulative growth in three sectors during April-December 2015
over the corresponding period of 2014 has been 2.3 percent, 3.1 percent and 4.5 percent
respectively.
China exports fall 11.2% in January, imports down 18.8% - China's exports fell 11.2
percent on-year in January, while imports declined 18.8 percent, clocking far bigger
slides than expected by analysts. Analysts polled by Reuters had expected a 1.9 percent
drop in January exports, and a 0.8 percent drop in imports. China's trade surplus came in
at USD 63.3 billion in January, against analysts' expectations of a USD 58.85 billion
surplus. In December, China's exports fell 1.4 percent from a year earlier, while imports
slid 7.6 percent.
Make in India: Arun Jaitley says more banking reforms soon - Finance minister Arun
Jaitley reportedly said he will shortly announce a "series of banking reforms" without
elaborating. Jaitley added the government is gradually moving in the direction of reforms
and a market-oriented economy. Arun Jaitley was speaking at the Make in India week in
Mumbai on Sunday. The Narendra Modi government is seeking to push ahead with
economic reforms, says report.
Budget 2016 to pivot around reforms and rural uplift; to focus on relieving rural
stress - The government is working on a two-pronged Budget that will further structural
reform to lift growth while putting in place a package that will seek to address rural stress
through broader social security measures and changes in agricultural policy. The Budget,
which will be presented by Finance Minister Arun Jaitley on February 29, will also focus
on credit issues and greater access to equity funds. "The Budget is going to provide a
momentum to the market side of the economy and also focus on the pro-poor side of the
economy," said a senior finance ministry official, outlining the twin thrust areas.

TOP ECONOMY NEWS

GDP estimates released for the year 2015-16 indicate that economy is firmly holding on
to the recovery course. Reform measures taken over the past 18 months have put the
economy on the growth trajectory. The improvement expected in the agriculture and
manufacturing sectors in the current fiscal is encouraging. Some moderation has been
reported in the other key sectors of the economy and we do hope to see a turnaround in
near future. However, the monthly IIP data which is an indicator of industrial
performance remains volatile, which is a matter of concern, said Dr. A Didar Singh,
Secretary General, FICCI.
The December quarter GDP data has a message: the growth in the economy is very
nascent, and any letup at this stage can erase all the gains we have achieved so far.
The government on Monday forecast annual economic growth to accelerate to 7.6% in
FY16 after India's economy grew 7.3% in the quarter to end-December.
Maharashtra government intends to increase the tariff for families consuming over 300
units of electricity per month.
The Telecom Regulatory Authority of India said that tariff for data services cannot vary
on the basis of the website/ application/ platform/ or type of content being accessed.
India and the United Arab Emirates will be signing a civil nuclear cooperation agreement
during the visit of Crown Prince of Abu Dhabi and Deputy Supreme Commander of the
UAE Armed Forces Mohammed bin Zayed Al Nahyan to India.
Its now very clear that when current government came to power in 2014, it atleast
improved the investor sentiments overnight. But the structural problems ailing the
economy are not that easy to solve. Infact, it might take more than few years and billions
of dollars to make, even a small positive change in the economy.
Indias commercial capital is geared up for Make in India Week, a flagship event to
provide greater momentum to the Make in India initiative, to showcase to the world the
achievements of the nation in its manufacturing sector and to promote India as preferred
manufacturing destination globally. Set against the vibrant backdrop of Mumbai, this
week long calendar would offer unprecedented access, insights and opportunities to
connect and collaborate with India and global industry leaders, visionaries, academicians,
central and state administrations.

Governments and business leaders across the world are facing the challenge of rising
geopolitical uncertainty and a more connected yet in many ways more divergent
world. And to meet these challenges, the public sector needs to redefine its purpose,
collaborate with business to build the foundations of growth, and measure success in
smarter ways.
RBI allowed banks to qualify 10% of SLR bonds as Liquidity Coverage Ratio from 7%
earlier, a requirement mandated under the Basel-III accounting norms from their SLR
requirements. The move will help banks to use an additional Rs2.8tn of their resources
for lending.
Life insurance companies will be required to mandatorily issue an electronic insurance
policy for any individual who takes a sum assured of Rs1mn and above, or pays annual
premium of Rs10,000 and above in life insurance.
Sharing RBIs plan of having clear and fully provisioned balance sheets of banks by
March 2017, Dr Raghuram Rajan, Governor, RBI stated that the growth in Indian
banking sector will not emerge to the full extent unless the clean-up of bank balance
sheets is effectively completed.
The Centres tax revenue had touched Rs10.66 trillion by January 31 or 73.5% of the fullyear target.
IRDA chairman T S Vijayan said the caps and commissions and remunerations being
given to insurance brokers will remain. However, the upper limit can be determined after
taking the feedback from various stake holders.
India and Australia agreed on enhancing cooperation in clean coal technology, renewable
power and LNG in a bid to meet the burgeoning demand for cheap and environmentfriendly energy in one of the fastest growing emerging economies.
Railways joined hands with the Chhattisgarh government for laying of 762 km-long rail
line in the state as part of the rail infrastructure development plan. The MoU envisages
formation of a joint venture company with the state for execution of rail projects. The JV
companies will have 51% stake of the state government and 49% of Railways.

India has completed most of the consultation process related with the WTO trade
facilitation agreement and the government expects to ratify it soon.
Appearance of the Fed chairperson before this Committee last July, the economy has
made further progress toward the Federal Reserve's objective of maximum employment.
And while inflation is expected to remain low in the near term, in part because of the
further declines in energy prices, the Federal Open Market Committee expects that
inflation will rise to its 2 percent objective over the medium term.
The Union Minister for Finance & Corporate Affairs and Information & Broadcasting
Arun Jaitley said that India has great strengths to be amongst leading nations in a
technology driven forth industrial revolution that is expected to come about now. He was
speaking after inaugurating a two day seminar titled-ART of convergence in New Delhi
today.
TOP CORPORATE NEWS Wipro Ltd has won an IT infrastructure transformation contract from the Sweden
headquartered ASSA ABLOY Group. Under the five-year agreement, Wipro will
consolidate ASSA ABLOYs existing data centres in the EMEA region and implement a
cloud-based service model.
Strides Shasun Ltd has acquired controlling stakes in Kenya's Universal Corporation
and Australia-based Generic Partners Holdings in a bid to strengthen its business in these
regions.
Cognizant reported 17% growth in revenue during the quarter ended December 31, 2015
at $3.23 billion as compared to $2.74 billion, a year ago.
Dr Reddy's Laboratories said its US subsidiary Promius Pharma has received USFDA
approval to market Sernivo spray, used in treatment of skin disorder.
Suzlon Group announced the completion of type testing and certification of its S111
turbine for 50 Hz and 60 Hz variants, which acknowledges its conformity with the set

norms.
Essar Power, which runs a greenfield 135MW multi-fuel power plant at Hazira in
Gujarat is set to expand the capacity to 270MW by adding second unit of 135MW by July
this year.
SRF Ltd plans to invest around $58 million to set up a Greenfield BOPET plant at
Indore, Madhya Pradesh. The proposed investment will be backed by International
Finance Corporation. The proposed facility is set to have a capacity of 30,000 TPA and a
metallization capacity of 8,000 TPA.
GMR Kamalanga Energy, a subsidiary of GMR Infrastructure Ltd, has secured a
favourable order from CERC on tariff revision related to supply of 300MW under a
power purchase agreement with Haryana discoms, from the 1050MW coal-based power
plant at Kamalanga in Dhenkanal in Odisha.
Axis Bank Ltd plans to raise $500mn through Tier-II capital bonds to shore up its capital
base.
Raymond is planning to raise Rs1bn from the market through private placement basis.
The board of the company will meet on February 9 to consider the proposal, Raymond
informed BSE.
Coal India Ltd inked a memorandum of understanding to acquire a 50% stake in
IndianOils bulk explosives business. Explosives are used in open cast mines, which
contribute nearly 93% of CILs annual production.
Sun Edison has successfully commissioned 146MW DC of solar power plants in Tamil
Nadu, Andhra Pradesh and Telangana. The company plans to develop more than
1,500MW of solar and wind energy power plants in India over the next 18 months.
Royal Enfield is planning to enter Brazil as part of its plan to strengthen its presence in
overseas markets. Siddhartha Lal, CEO and managing director of Eicher Ltd, said Royal
Enfield is looking at Latin America and South East Asia regions for its growth in
international markets.

Coal India will this month conduct special auction to offer coal to distressed power
producers as the government gears up to provide round-the- clock electricity to all.
ITC LTD is looking to invest Rs 8 billion in Odisha over the next few years to set up a
hotel property and a food processing park in the state.
Ceat Ltd. will invest Rs 3bn to set up a manufacturing facility in Maharashtra to
primarily serve export market for off-road radial tyres.
Ashok Leyland is scouting for a local partner for establishing assembly units in Africa
with an estimated investment of Rs 300 mn each.
Tata Steel Ltd has plans to invest about Rs 20-25 billionfor development of
infrastructure at Gopalpur in Odisha in the near term.
Tata Motors is working on reducing the engine size for its diesel vehicles to circumvent
the sales ban imposed in Delhi-NCR.
Sun TV Network in a regulatory filing has announced that the committee appointed to
look into option of share buyback has recommended not to pursue the option for the time
being.
Schneider Electric has showcased its technological expertise and unveiled several new
products, concepts and some of their existing products for Indian market at ELECRAMA
2016.
Sun Pharma and Merck Sharp & Dohmes , wholly-owned subsidiaries, have mutually
decided to wind down their joint venture due to changes in the strategic priorities of
both the parent companies.
Tata Power Ltd through its joint venture company Industrial Energy Ltd has
synchronized the second 67.5 MW unit of its 202.50-MW Kalinganagar project.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

A whopping Rs 1.14 lakh crore of bad loans have been written off by 27 Public Sector
Banks during FY 2012-15, with the last fiscal alone witnessing a steep 53 per cent rise in
write-offs as part of the balance sheet clean-up.
City-headquartered Bandhan Bank, which began commercial operations last year, is
targeting growth on the deposit as well as credit front by at least 30 per cent by 2017-end,
a top official said here.
Reserve Bank of India governor Raghuram Rajan and his deputies will meet bankers on
Tuesday to discuss the prevailing liquidity situation and whether the central bank needs to
relook its liquidity management, said two bankers on condition of anonymity.
The story of Uday Kotak and Kotak Mahindra Bank Ltd, now Indias fourth largest
private-sector lender by assets, goes back to just a few years before India liberalized its
economy. It was in 1985 that Kotak started its journey in financial services with a billdiscounting business launched under the brand name Kotak Mahindra Finance Ltd. The
business soon expanded into areas such as auto finance even before liberalization of the
economy opened up a new world for private-sector financiers in the country.
United Bank of India ended at Rs. 19.3, up by Rs. 0.5 or 2.66% from its previous
closing of Rs. 18.8 on the BSE. The bank received approval for raising Additional Tier 1 capital under BASEL-III norms up to Rs. 1,000 crore through issuance of Perpetual
Debt Instruments in the form of subordinated, non-convertible, non-cumulative, listed,
Basel-Ill compliant Additional Tier1 Bonds in the form of Debenture/ Promissory Notes
of the face value of Rs. 10 lacs each on private placement basis for inclusion in the
Additional Tier1 Capital of the Bank for the purpose of ascertaining the capital adequacy
ratios.
Country's second largest state run lender, Punjab National Bank will now explore to
monetise its real estate through a sale and lease model. The move comes as higher
provisions and an increase in slippages plummeted PNB's net profit for the December
quarter by 94.31 per cent to Rs 51.01 crore as against the same period last fiscal.

Indian Overseas Bank has taken a late leap towards internet-enabled banking and data
analytics by implementing Infosys Finacle's latest rack of software executed by American
technology company HPE.
The net non-performing assets of state-owned banks gross NPAs less provisions
at Rs 1.74 lakh crore at the end of September 2015 is equal to almost a third of their total
net worth. In other words, if banks have to fully provide for all their bad debts, it would
wipe out 33 per cent of their paid-up capital plus reserves and surplus.

Bandhan Bank on Tuesday announced the launch of an international debit card in

association with Visa. It has also begun banking services for overseas Indians.

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