TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : The market has opened on a strong note Monday. The Nifty is up 51

points or 0.7 percent at 7561. Equity benchmarks remained strong in morning trade

following positive global cues. as traders began to take a more positive view of the

European Central Bank's monetary policy decision last week. The India's industrial output

during January contracted, The Government is hopeful of passing the GST bill in the

second half of the budget session, Reserve Bank Governor Raghuram Rajan said the

economy is recovering, but the process of recovery is volatile. The European Central

Bank's decision to expand its balance sheet is a welcome move and would fuel a short-

term rally in equity markets across the globe. The Federal Reserve decision on Wednesday

to hold rates steady and pencil in fewer rate hikes reflects a central bank feeling its way

through tremendous uncertainty. Now the focus will shift to local issues such as earnings,

corporate performance, RBI april policy move, The domestic risk of environment right

now has become normal and neutral environment and may be now we will start seeing

some money flows towards emerging market. The crucial levels for Nifty is 7480-7300

downside and 7670-7860 is Upside.

BANK NIFTY : - The Bank Nifty opened higher on Monday at 15309 up by 141 points

or 0.97 per cent . The rally in the Bank Nifty come from some announcement in favour of

the Banking Industry. The Federal Reserve and Bank of Japan decided to keep their

monetary policy steady rather than increasing its firepower. Traders and speculators in the

futures market have started initiating fresh long positions on Nifty Bank, ahead of RBI's

money policy review.The Reserve Bank of India April policy move can be positive for the

market there is a possibility of rate cut by RBI so rally in Bank Nifty will be continue ,

The Resistance for Bank Nifty is 15806-16230 and Support for Bank Nifty is 15376-

14940.

Monday, 21 March 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

7864 7674 7579 7484 7294

WEEKLY R2 R1 PP S1 S2

8166 7750 7542 7334 6918

MONTHLY R2 R1 PP S1 S2

9142 7992 7797 6842 5692

BANK NIFTY

DAILY R2 R1 PP S1 S2

16236 15806 15591 15376 14946

WEEKLY R2 R1 PP S1 S2

17076 16030 15507 14984 10239

MONTHLY R2 R1 PP S1 S2

19040 16276 14894 13512 10748

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7355 7365 7623 7923

BANK NIFTY 14839 14973 15981 16961

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7399 6823 8083

BANK NIFTY 14916 15950 18608

PATTERN FORMATION ( NIFTY )

Detail of Chart -

On the Above given weekly chart of Bank Nifty applied Parabolic SAR and with channel

line it is also made the support level in up trend pattern which is the crucial trend reversal

signal, Nifty is around its strongest Support and rel. The parabolic SAR is also near the

price value of the stock we are expecting that if the Nifty is able to sustain the levelof

7550 we may witnesssed the rally toward the Bull movement it may toch the level of

7680-7750 and not breaking the level of crucial Support of 7500 that will be head toward

the bull on the other hand if it is not Sustaing the support level we may witness the bear

movement of the index and can break the level of 7400-7360 which is the strongest

support for the Nifty.

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On the Above given weekly chart of Bank Nifty applied Parabolic SAR and with channel

line it is also made the rising wedge pattern which is the crucial trend reversal signal, the

Bank Nifty is around its crucial Support and resistance level. The parabolic SAR is also

near the price value of the stock we are expecting that if the Bank Nifty is able to sustain

the 15600 level and not breaking the level of crucial Support of 15500 that will be head

toward the bull on the other hand if it is not Sustaing the support level we may witness

the bear movement of the index and can break the level of 15000 which is the strong

support for bank Nifty.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1379 1358 1319 1298 1259 ALBK EQ 55 54 53 52 51

AMBUJACEM EQ 227 225 220 218 213 ASIAN PAINT EQ 889 882 871 864 853 AXISBANK EQ 442 439 434 431 426 BAJAJ-AUTO EQ 2332 2316 2292 2252 2172 BANKBARODA EQ 146 145 143 142 140 BANKINDIA EQ 99 98 96 95 94 BHEL EQ 116 114 113 111 110 BHARTIARTL EQ 352 348 344 340 336 CIPLA EQ 538 533 525 520 512 COALINDIA EQ 301 299 296 294 291 DLF EQ 110 109 107 105 103 DRREDDY EQ 3235 3199 3143 3107 3051 GAIL EQ 374 368 360 354 346 GRASIM EQ 3732 3694 3667 3602 3472 HCLTECH EQ 835 829 822 816 809 HDFC EQ 1151 1140 1122 1111 1093 HDFCBANK EQ 1042 1035 1025 1018 1008 HEROMOTOCO EQ 2866 2847 2820 2801 2774 HINDALCO EQ 88 86 84 83 81 HINDUNILVR EQ 859 852 845 838 831 ICICIBANK EQ 234 231 229 226 224 ITC EQ 328 326 324 322 320 INDUSIND BANK EQ 953 942 922 911 891 INFY EQ 1221 1205 1184 1168 1147 JINDALSTEL EQ 62 61 60 60 58 KOTAKBANK EQ 667 662 655 650 643 LT EQ 1211 1205 1198 1192 1185 M&M EQ 1247 1234 1215 1202 1183 MRF EQ 35382 35065 34483 34166 33584 MARUTI EQ 3701 3662 3609 3570 3517 ONGC EQ 217 216 215 214 213 ORIENTBANK EQ 95 93 92 90 89 RCOM EQ 54 53 53 52 51 RELCAPITAL EQ 372 369 367 364 362 RELIANCE EQ 1037 1033 1028 1024 1019 RELINFRA EQ 514 511 508 505 502 RPOWER EQ 48 47 47 46 45 SBIN EQ 195 194 194 193 192 SSLT( VEDL) EQ 95 94 92 91 89 SUNPHARMA EQ 834 829 825 820 816 TATAMOTORS EQ 371 368 367 364 363 TATAPOWER EQ 59 58 58 58 57 TATASTEEL EQ 307 305 303 301 299 UNIONBANK EQ 130 130 129 128 127

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS ( AS PER TECHNICAL ANALYSIS

PRIDICTION )

NSE FUTURE

PCJEWELLER FUTRUE : SELL PCJEWELLER FUT BELOW 341 TGT 334.50 SL 344.50

ONGC FUTURE : SELL ONGC FUTURE BELOW 214.40 TGT 209.40 SL 215.90

IDBI FUTURE : BUY IDBI FUTURE ABOVE 71.30 TGT 73.30 SL 70.80

CEAT LTD FUTURE : BUY CEATLTD FUTURE ABOVE 1125 TGT 1135 SL 1120

AUROPHARMA FUTURE : BUY AUROPHARMA FUTURE ABOVE 740 TGT 750 SL 735

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 LUPIN LTD. 1820 1531 -15.92 %

2 COAL INDIA LTD. 321 296 -7.99 %

1 COAL INDIA LTD.

321

296

-7.99 %

2 COAL INDIA LTD.

321

296

-7.99 %

3 COAL INDIA LTD.

321

296

-7.99 %

4 COAL INDIA LTD.

321

296

-7.99 %

5 COAL INDIA LTD.

321

296 3 SUN PHARMA 865 825

-4.57 %

4 ASIAN PAINTS 894 862 -3.60 %

ASIAN PAINTS

894

862

-3.60 %

ASIAN PAINTS

894

862

-3.60 %

ASIAN PAINTS

894

862

-3.60 %

ASIAN PAINTS

894

862

-3.60 %

ASIAN PAINTS

894

862 5 IDEA CELLULAR 104 102

-2.20 %

6 DR REDDY LABS 3184 3130 -1.70 %

DR REDDY LABS

3184

3130

-1.70 %

DR REDDY LABS

3184

3130

-1.70 %

DR REDDY LABS

3184

3130

-1.70 %

DR REDDY LABS

3184

3130

-1.70 %

DR REDDY LABS

3184

3130

7 HDFC 1153 1140 -1.08 %

8 ZEEL 391 388 -0.86 %

ZEEL

391

388

-0.86 %

ZEEL

391

388

-0.86 %

ZEEL

391

388

-0.86 %

ZEEL

391

388

-0.86 %

ZEEL

391

388 9 BAJAJ AUTO LTD. 2324 2307

-0.74 %

10 CIPLA 533 531 -0.37 %

CIPLA

533

531

-0.37 %

CIPLA

533

531

-0.37 %

CIPLA

533

531

-0.37 %

CIPLA

533

531

-0.37 %

CIPLA

533

531 11 TATA POWER CO. 58.90 58.70

-0.34 %

12 MARUTI SUZUKI 3627 3618 -0.25 %

MARUTI SUZUKI

3627

3618

-0.25 %

MARUTI SUZUKI

3627

3618

-0.25 %

MARUTI SUZUKI

3627

3618

-0.25 %

MARUTI SUZUKI

3627

3618

-0.25 %

MARUTI SUZUKI

3627

3618

13 M&M 1226 1223 -0.20 %

14 INDUSIND BANK 927 925

0.20 %

INDUSIND BANK

927

925

0.20 %

INDUSIND BANK

927

925

0.20 %

INDUSIND BANK

927

925

0.20 %

INDUSIND BANK

927

925

0.20 %

INDUSIND BANK

927

925

15 HERO MOTOCORP 2818 2809 -0.11 %

SR.NO SCRIPT NAME PREV

CLOSE CMP % CHANGE

1 AMBUJA CEMENT 201 225 + 11.74 %

2 CAIRN INDIA LTD. 140 156 + 11.13 % 1. CAIRN INDIA LTD.

140

156

+ 11.13 %

2. CAIRN INDIA LTD.

140

156

+ 11.13 %

3. CAIRN INDIA LTD.

140

156

+ 11.13 %

4. CAIRN INDIA LTD.

140

156

+ 11.13 %

5. CAIRN INDIA LTD.

140

156

3 ACC 1230 1361 + 10.69 %

4 BHARAT PETRO 794 874 + 10.14 % 6. BHARAT PETRO

794

874

+ 10.14 %

7. BHARAT PETRO

794

874

+ 10.14 %

8. BHARAT PETRO

794

874

+ 10.14 %

9. BHARAT PETRO

794

874

+ 10.14 %

10. BHARAT PETRO

794

874

5 ICICI BANK 215 232 + 7.77 %

6 BHEL 104 112 + 7.33 % BHEL

104

112

+ 7.33 %

BHEL

104

112

+ 7.33 %

BHEL

104

112

+ 7.33 %

BHEL

104

112

+ 7.33 %

BHEL

104

112

7 SBI 180 193 + 7.37 %

8 GAIL INDIA LTD. 341 364 + 6.61 % G

A

I

L

I

N

D

I

A

L

T

D

.

341

364

+ 6.61 %

G

A

I

L

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341

364

+ 6.61 %

G

A

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341

364

+ 6.61 %

G

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341

364

+ 6.61 %

G

A

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341

364

9 AXIS BANK LTD. 413 439 + 6.53 %

10 ULTRACEMCO 2997 3189 + 6.38 % U

L

T

R

A

C

E

M

C

O

2997

3189

+ 6.38 %

U

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2997

3189

+ 6.38 %

U

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2997

3189

+ 6.38 %

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2997

3189

+ 6.38 %

U

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2997

3189 11

BOSCH LTD, 17878 19001 + 6.28 %

12 TECH MAHINDRA 466 492 + 5.70 % T

E

C

H

M

A

H

I

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D

R

A

466

492

+ 5.70 %

T

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466

492

+ 5.70 %

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466

492

+ 5.70 %

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A

466

492

+ 5.70 %

T

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C

H

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A

H

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R

A

466

492

13 ADANI PORTS 226 238 + 5.38 %

14 TATA MOTORS LTD 349 366 + 5.24 % T

A

T

A

M

O

T

O

R

S

L

T

D

349

366

+ 5.24 %

T

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349

366

+ 5.24 %

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349

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+ 5.24 %

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+ 5.24 %

T

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349

366

15 ONGC 205 215 + 4.46 %

NSE CASH

CROMPTONGREAVS NSE CASH : LONGPOSITION CAN BE MADE IN CROMPTONGREAVS

ABOVE 53.50 TGT OF 58.50 AND SL OF 51.80.

PRESTIGE NSE CASH : LONG POSITIONS CAN BE MADE ABOVE 155 FOR TGT OF 170 AND

SL OF 149

SREINFRA NSE CASH : LONG POSITION CAN BE MADE IN SREINFRA ABOVE 56.25 FOR TGT

AND SL OF 62 AND 54.20 RESPECTIVELY.

RENUKA NSE CASH : LONG POSITION CAN BE MADE INRENUKA ABOVE 15.65 FOR TGT

AND SL OF 17.25 AND 15.05 RESPECTIVELY.

NCC NSE CASH : LONG POSITION CAN BE MADE IN NCC ABOVE 75.50 FOR TGT AND SL OF

82.80 AND 73 RESPECTIVELY.

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

Parliament panel on land bill to meet on Monday - A Parliamentary panel is expected

to meet on Monday to discuss the controversial land acquisition bill of 2015, The Joint

Committee on the Right to Fair Compensation & Transparency in Land Acquisition,

Rehabilitation and Resettlement Bill 2015, headed by BJP MP S.S. Ahluwalia will take a

view on the remaining clauses of the bill. The NDA Government is hopeful that a

consensus will emerge on all issues related to the bill, The committee has already been

given at least five extensions.

Manufacturing projects with investments worth over Rs 12 lakh crore under

implementation - Projects with investments worth just Rs 1.6 lakh crore i.e. a meagre 11

per cent of total investments worth about Rs 15 lakh crore announced in manufacturing

sector across India have actually been recorded as of September 2015, according to a

recent study by ASSOCHAM.“Manufacturing sector in India attracted live investments

worth about Rs 33 lakh crore about one-fifth of the total live investments worth over Rs

164 lakh crore attracted by various sectors across India as of September 2015, noted the

study titled‘Impact analysis of delay in investment implementation in manufacturing,’

conducted by The Associated Chambers of Commerce and Industry of India.

Global economy finding it hard to restore pre-Great Recession growth rates: Rajan

- RBI Governor Raghuram Rajan said in speech at First Ramnath Goenka Memorial, New

Delhi. The global economy is finding it hard to restore pre-Great Recession growth rates–

every report of the IMF seemingly downgrades its previous growth forecasts. Why has

the recovery been so slow, The immediate answer is that the financial boom preceding the

Great Recession left industrial countries with an overhang of debt, and debt, whether on

governments, households, or banks, is holding back growth. While the remedy may be to

write down debt so as to revive demand from the indebted, it is debatable whether

additional debt fueled demand is sustainable. At any rate, large-scale debt write-offs seem

politically difficult even if they are economically warranted.

India won’t remain insulated from global volatility: IMF Chief - India is currently

under the wings of its robust current account position, the country would not remain

unbrushed against any developments taking place across the globe. The fact that global

economy is hedged against a recession does not lull the significance of a synchronized

policy action across countries, said Christine Lagarde, Managing Director, International

Monetary Fund, in an interview. The world’s financial sector is sturdier and prone to

rebound, as it was back in 2008, when the world economy had been hit by financial

tempests, Lagarde said.

IIP numbers disappointing: Raghuram Rajan - Reserve Bank Governor Raghuram

Rajan reportedly said the economy is recovering, but the process of recovery is volatile.

"We are in recovery. That's broadly what we said before and by and large, we would stick

to that, Rajan said.The RBI chief described index of industrial production numbers

released yesterday as "certainly somewhat disappointing", Rajan stated that the growth is

"not as strong as we would like as a country. we have to see how it progresses".

Bank of Japan keeps deposit rate unchanged at -0.1% - At the Monetary Policy

Meeting held today, the Policy Board of the Bank of Japan decided upon the following.

The Bank decided,by an 8-1 majority vote, to set the following guideline for money

market operations for the intermeeting period.The Bank of Japan will conduct money

market operations so that the monetary base will increase at an annual pace of about 80

trillion yen. The Bank will purchase Japanese government bonds so that their amount

outstanding will increase at an annual pace of about 80 trillion yen.

February CPI Inflation eases to 5.18%; bolsters rate cut hope - India's consumer

price index eases to 5.18 percent as compared to 5.69% in Jan helped by a fall in food

prices, after edging up for six straight months. Street had forecasted a CPI of 5.53% and

were astounded by the 40 bps fall. CPI Food Price Inflation was at 5.30% as compared to

6.85% in January. CPI Rural Inflation was at 5.97% as against 6.32% in January. CPI

Urban Inflation was at 4.30% as against 4.81% in January. The General Indices for the

month of February 2016 for Rural, Urban and Combined are 127.8, 123.8 and 125.9

respectively. The latest data further adds to rate cut case by RBI after better than expected

WPI data.

Real Estate Bill cleared in Lok Sabha and Rajya Sabha - The Lok Sabha approved the

Real Estate (Regulation and Development) Bill, 2016. The bill seeks to create a set of

rights and obligations for both the consumers and developers and encourage both of them

to live up to the expectations of each other as per the agreement entered into by both of

them. Moving the Bill pending in Lok Sabha after it got passed in Rajya Sabha on March

6, Minister of Housing & Urban Poverty Alleviation M. Venkaiah Naidu clarified the

position on the issues such as how the Bill will be applicable to existing projects.

Remove cess and surcharges as effective tax on corporates above 34 %:

ASSOCHAM - Making out a strong case for removal of cess and surcharges of various

types, the ASSOCHAM has approached the Finance Ministry for a clear road-map for

reduction of corporate tax to 25 per cent, which is effectively over 34 per cent at present.

In a post-Budget memorandum to the Finance Ministry, the chamber said the surcharge

and education cess was originally introduced for a short period of time but the same is

being continued from year to year. This has pushed up the overall tax rate sharply for the

corporate sector to 34.608 per cent.

Arun Jaitley says difficult to accept Congress demand for GST - Finance Minister

Arun Jaitley stated that it would be difficult to accept the Congress party's demand to cap

goods and services tax rate, as per a report. According to reports, the proposed sales tax

seeks to replace a slew of federal and state levies. The Congress party has opposed the

bill calling it "flawed".

Call drop case: TRAI to comply with Supreme Court order - The TRAI, reportedly,

said it will comply with Supreme Court order asking to consider the amendment of

penalty based on technical aspects of call drops. TRAI Chairman said, "Whatever has

been ordered by the Supreme Court shall be complied with. Supreme Court on March 17

asked TRAI to review call drop penalty regulation in view of technical issues. The apex

court has asked the regulatory body to base their stand considering the papers dealing

with technical aspects of call drops.

✍ TOP ECONOMY NEWS

Industrial output for the third month in a row remained in the negative territory

contracting 1.5% in January due to poor output in manufacturing sector. IIP also declined

by 3.4% in November and 1.2% in December according to data released by Central

Statistics Office.

Haryana became the eighth state to join the UDAY scheme for revival of power

distribution companies and is expected to save Rs 142 billion in the next three years.

In the backdrop of rising bad loans, India's biggest lenders this week will have a face-off

with truant borrowers at a meet aimed at drawing up plan to throw out inept and non-

cooperative management from the boards of companies, three people familiar with the

plans said.

Reserve Bank of India governor Raghuram Rajan called on Saturday for global central

banks to adopt a system for assessing the wider impact of their actions, including

unconventional monetary policies now in use.

A group of telecom companies has termed the Union Budget proposal to levy service tax

on spectrum allocation "punitive and unfair" and want the levy to be rolled back, saying it

would lead to a Rs 77,000 crore tax burden and tariff hikes. "It is imperative that the

government reconsiders the service tax proposals in view of the direct impact on the aam

aadmi as also the adverse impact on the Digital India initiative," the Cellular Operators'

Association of India said in a statement Sunday.

Initially scheduled for May or June this year, the telecom spectrum sale is likely to be

delayed by three to six months.

Amid persistent global economic uncertainty, International Monetary Fund Managing

Director Christine Lagarde on Sunday backed the government's fiscal policy and lauded

its efforts and those of the Reserve Bank of India to clean bank balance sheets.

Passenger car shipments from India declined 3.71% to 4,84,602 units in April-February

period of this fiscal due to challenges in top export markets like Algeria, Europe and

neighbouring countries, according to SIAM.

The accumulated loss suffered by power distribution companies in Uttar Pradesh

increased to Rs601bn in 2013-14 from Rs336bn in 2011-12, the CAG said in its latest

audit report.

India's wholesale prices fell for the 16th straight month in January, though the decline

was marginal. The WPI -based inflation declined to -0.91% as compared to -2.17% from

a year ago and -0.90% recorded in January.

Finance Minister Arun Jaitley said that the Government hopeful of passing the GST bill

in the second half of the budget session, which will resume on April 20. The GST bill,

which has received the approval of the Lok Sabha, is stuck in the Rajya Sabha. The

Government has already said that it is ready with the required infrastructure for the roll

out of GST.

Annual CPI eased to 5.18% in February from a year ago, helped by a fall in food prices.

Retail food inflation in February eased to 5.30%, compared with 6.85% recorded in the

previous month.

Telangana government presented a revenue surplus Budget for the year 2016-17 while

allocating more than 50% of the total estimated expenditure of Rs. 1.30 trillion under the

plan outlay. It has allocated a whopping Rs 250 billion for the irrigation sector under plan

outlay in this Budget as compared to an expenditure of Rs. 85 billion for irrigation in the

current financial year.

According to a study conducted by the Moody's Analytics, there has been a significant

increase in the use of electronic payment methods such as credit, debit and prepaid cards.

This boom in the electronic payment space has injected nearly $6.08 billion in the Indian

economy during the period from 2011 to 2015.

Government has collected Rs. 202 billion through education cess in the first ten months

of the current fiscal. Of this, Rs. 145 billion was collected under direct taxes and the

remaining under indirect taxes. Through the education cess, the government had collected

Rs. 360 billion in FY15, Rs. 339 billion in FY14 and Rs. 306 billion in FY13.

Plans to liberalise trade between India and China, the world’s two fastest-growing large

economies, have gathered momentum with both sides exchanging offers on removal of a

chunk of tariff lines on goods imports.

The Rs.25,000 crore capital injection for bank recapitalization in the budget has reignited

the debate on whether Indian banks have enough capital.

The coal ministry allotted 16 coal blocks that would be exploited by state owned public

sector entities and the produce sold primarily to small and medium companies that cannot

buy larger volumes from Coal India directly.

Off shore funds can now appoint fund managers in India without the risk of being treated

as a resident for tax purposes. The Central Board of Direct Taxes has now notified rules

to provide for a special taxation regime from April 1 that would facilitate location of fund

managers for off shore funds in India.

✍ TOP CORPORATE NEWS -

Dr. Reddy’s Laboratories and TR-Pharm, a pharmaceutical company based in Turkey,

announced a strategic collaboration agreement involving 3 biosimilar products. These

products will be registered and subsequently commercialised as part of this agreement by

TR-Pharm in Turkey.

Glenmark Pharmaceuticals received final approval by the United States Food & Drug

Administration for Frovatriptan Succinate Tablets, 2.5 mg, the therapeutic equivalent to

the reference listed drug product, Frova Tablets, 2.5 mg, of Endo Pharmaceuticals, Inc.

Reliance Industries' wholly-owned arm Model Economic Township Ltd will develop an

electronics manufacturing hub and footwear park at Jhajjar, Haryana with an investment

of Rs13 billion.

Maruti Suzuki India Ltd has missed a deadline it had set for introducing the light

commercial vehicle segment citing the ongoing resistance against diesel vehicles.

Apollo Hospitals Enterprise has completed the acquisition of the majority stake in

Guwahati based Assam Hospitals Ltd. The company acquired 51% stake in the company

for Rs573 million.

NMDC has raised the lump price by over 8% to Rs1,950 per tonne effective March 11,

its first hike for the higher grade of the ore since July, 2014.

Kotak Mahindra Group has signed an agreement with Canada Pension Plan Investment

Board to invest up to $525 million in stressed assets in the country's banking and

corporate sectors. CPPIB will have the ability to invest up to $ 450 million in the

partnership.

Wipro Ltd. announced winning a multi-year contract to develop a new IT platform for

Danish energy firm NRGi's operations. Wipro will design, build, host and deploy a

customer information system for the utility provider in a platform as a service model.

Suven Life Sciences has been granted a patent each by China, Eurasia and Hong Kong

for a drug used in the treatment of neuro-degenerative diseases.

Bharat Heavy Electricals Limited has achieved another milestone in its After-Sales-

Service business by successfully synchronising the 110 MW Unit-7 at Barauni Thermal

Power Station in Bihar following Renovation and Modernisation.

India’s largest private sector lender ICICI Bank Ltd is looking to raise $750 million

through a dollar bond issue under itsmedium-term note programme, according

to source.

Aurobindo Pharma has received final approval from USFDA to manufacture and

market Ibandronate Sodium Tablets, 150 mg. This product is expected to be launched in

the 1QFY17. Ibandronate Sodium tablets are used in the treatment and prevention of

osteoporosis in postmenopausal women.

Larsen & Toubro said its construction arm has bagged orders worth Rs 16.7 billion

across various business verticals, including residential construction and power and

distribution.

Zee Entertainment Enterprises will fully acquire aviation firm Fly By Wire for a total

consideration of Rs. 613 million in an all-cash deal. Fly By Wire International provides

aircraft charter services.

Aditya Birla Nuvo Ltd, which won a license last year to set up a non-lending bank in

India, will start its digital wallet services by the end of 2016 as it prepares to tap one of

the world’s fastest growing smartphone markets.

Wipro Limited has entered into a strategic partnership with Schneider Electric, a global

specialist in energy management and automated systems, to develop convergent solutions

for India's Smart Cities.

Drug major Lupin Ltd. said it has received nine observations relating to inadequacy and

adherence to operating norms for its manufacturing plant in Goa from the US Food and

Drug Administration.

Reliance Infrastructure Ltd. announced the demerger of certain power generation and

supply businesses in Mumbai, Goa and Andhra Pradesh into a subsidiary for a

consideration of Rs. 63 billion.

Tata Motors will supply 25 hybrid electric busses to the Mumbai Metropolitan Region

Development Authority. The contract to supply Tata Starbus Diesel Series Hybrid

Electric Bus with full low floor configuration is the single largest order awarded for

hybrid electric vehicle technology.

TVS Motors has entered a pact with online marketplace Snapdeal to retail its products.

Nine two-wheeler products from TVS Motor Company will be available on

snapdeal.com.

Bharti Airtel will emerge as the largest high-speed mobile broadband spectrum owner in

the country, beating Mukesh Ambani-owned new entrant Reliance Jio Infocomm, once

the country's top mobile operator buys Videocon's 4G airwaves in six circles.

Mahindra & Mahindra has announced the launch of Gusto 125. The Mahindra Gusto

125 is available in two variants - DX and VX –at Rs 50,680 and Rs 53,680 respectively.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

In the last fortnight, State Bank of India , on behalf of itself and other consortium

lenders, has put three large loans aggregating to INR 20,769 crore on the block.

DBS Group Holdings, Southeast Asia's largest bank, is set to acquire Royal Bank of

Scotland Group's Indian onshore operations for about Rs 1,000 crore, a much-awaited

deal that will see the exit of Britain's biggest government owned bank from one of the

fastest-growing economies.

Bankers led by the State Bank of India warned distressed corporates to accelerate their

asset sales so that they can recover their dues, failing which banks would themselves take

it in their hands the process of disposal of assets.

Savings bank account holders have been hit most by the falling interest rates as banks

lowered the amount paid to them as interest. But the silver lining is that the community as

a whole is set to reap more than Rs 500 crore as additional interest, thanks to the tweak in

the way banks paid out interest on such deposits.

Bad loans have hit the banking sector's advance tax payouts for March quarter, with State

Bank of India paying a 60 per cent lower tax, ICICI Bank showing a marginal increase,

while HDFC Bank posting a 14 per cent growth in tax liability.

Lending by Indian banks continued to remain in double digits for the second

consecutive fortnight rising 11.5% growth for the fortnight ending March 4, according to

data released by the Reserve Bank of India.

Axis Bank, India's third largest private sector lender, has provided seed funding of Rs 10

lakh to the students of Indian Institute of Foreign Trade, the winners of the inter-campus

online gamified competition 'Axis Moves' it has launched in leading B-schools in a bid to

bolsterentrepreneurship across the country. The winning ideas will be executed by the

Axis Bank Foundation and a partner non-governmental organisation.

The country's largest lender, State Bank of India, said it has raised Rs 3,000 crore on a

private placement basis. The bank has issued 30,000 Basel-III compliant, tier-ll bonds in

the nature of debentures.

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