TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

Nifty futures/Bank Nifty futures market closed on 8380/ 18358. According to technical analysis if Nifty futuresand Bank Nifty future moves down-word in tomorrow treading session then 8355 will be small support for Niftyfutures and 18281 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can godown to 8218 level and Bank Nifty futures can touch 17927 level in next few days. It will be hard support forNifty futures and Bank Nifty futures. Meanwhile in up trend there is small resistance on 8519 for Nifty futures and18870 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on8627 and 19107 for Bank Nifty futures.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

PIVOT POINT NIFTY

DAILY R2 R1 PP S1 S28471 8557 8465 8373 8189

WEEKLY R2 R1 PP S1 S29312 8700 8394 8088 7476

MONTHLY R2 R1 PP S1 S28861 8587 8450 8313 8039

PIVOT POINT BANK NIFTY

DAILY R2 R1 PP S1 S219368 18904 18672 18440 17976

WEEKLY R2 R1 PP S1 S2251307 19389 18430 17471 15553

MONTHLY R2 R1 PP S1 S220136 19096 18576 18056 17016

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8225 8261 8483 8400BANK NIFTY 17911 18059 18470 18135

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 8247 7926 9073

BANK NIFTY 17975 18875 20820

NSE EQUITY DAILY LEVELS

COMPANY NAME R3 R2 R1 PP S1 S2 S3

ACC EQ 1456 1439 1429 1423 1419 1406 1389ALBK EQ 95 93 92 90 89 88 86

AMBUJACEM EQ 238 231 229 225 222 218 212ASIAN PAINT EQ 768 753 747 728 731 723 708AXISBANK EQ 566 559 556 552 549 545 538BAJAJ-AUTO EQ 2475 2440 2421 2406 2389 2371 2336BANKBARODA EQ 149 145 143 141 139 137 133BANKINDIA EQ 184 180 179 176 175 173 169BHEL EQ 253 247 244 241 238 235 228BHARTIARTL EQ 454 443 438 432 427 421 411CIPLA EQ 638 622 614 606 599 591 575COALINDIA EQ 410 402 398 394 390 387 379DLF EQ 111 109 107 106 105 104 102DRREDDY EQ 3498 3446 3413 3393 3360 3341 3289GAIL EQ 418 407 401 397 391 386 375GRASIM EQ 3464 3424 3404 3384 3364 3344 3304HCLTECH EQ 970 946 931 922 907 898 875HDFC EQ 1291 1263 1249 1234 1221 1205 1177HDFCBANK EQ 1069 1048 1039 1026 1017 1004 982HEROMOTOCO EQ 2654 2604 2577 2553 2527 2503 2453HINDALCO EQ 128 124 122 121 119 118 114HINDUNILVR EQ 895 875 866 855 846 835 815ICICIBANK EQ 315 309 307 303 301 298 292ITC EQ 310 307 306 304 303 301 298INDUSIND BANK EQ 859 845 840 831 826 818 804INFY EQ 1034 1016 1006 996 988 982 965JINDALSTEL EQ 101 97 94 92 89 87 82KOTAKBANK EQ 1462 1386 1359 1311 1284 1235 1160LT EQ 1792 1757 1738 1723 1704 1688 1653M&M EQ 1436 1365 1335 1294 1264 1223 1152MRF EQ 34645 33972 33598 33299 32925 32626 31953MARUTI EQ 4094 4007 3977 3919 3890 3831 3744ONGC EQ 331 324 322 318 315 311 304ORIENTBANK EQ 186 182 180 177 175 172 168RCOM EQ 62 60 59 58 57 56 55RELCAPITAL EQ 371 362 358 352 348 343 334RELIANCE EQ 1042 1019 1007 995 983 971 947RELINFRA EQ 383 373 368 363 358 353 343RPOWER EQ 46 45 44 43 42 41 40SBIN EQ 270 265 262 260 257 255 250SSLT( VEDL) EQ 187 181 179 174 172 168 162SUNPHARMA EQ 889 870 858 850 838 831 811TATAMOTORS EQ 462 449 441 436 428 423 410TATAPOWER EQ 75 74 73 72 71 70 69TATASTEEL EQ 317 311 308 306 302 300 294UNIONBANK EQ 149 146 145 143 142 140 137

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION )

1. ICICI BANK - ICICI BANK GAINED ALMOST 5% IN THIS WEEK AND LIKELY TOCONTINUE ITS UPTREND IF IT TRADES ABOVE IN NEXT WEEK AND MAY CAN HIT THE 320LEVELS.

2. CAIRN INDIA - CAIRN INDIA IN IN DOWN TERND AND IF BREAKS 182 LEVEL THEN NEXTSUPPORT IS 177 AND 170.

3. GAIL - GAIL INDIA SHED ABOUT 3% THIS WEEK AND IF IT CONTINUOUS TO TRENDBELOW 385 THEN 378 LEVELS ARE NEXT SUPPORT.

4. VEDL - VEDL IS IN STRONG DOWN TRND IF IT BREAKES 169.50 LEVEL THEN NEXTSUPORT IS 168.

5. AMBUJACEM - AMBUJACEM THIS WEEK SHOWED UPWARD MOMENTUM AND HIT THEWEEKLY HIGH OF 243 IF IT BREAKS THE 243 LEVEL THEN 250 LEVELS ARE POSSIBLE INNEXT TWO TRADING SEASONS.

SR.NO

SCRIPT NAME PREVCLOSE

CMP % CHANG

1 RAJESH EXPORTS 290 375 +29.31

2 MARAL OVERSEAS 29.10 36.80 +26.46

3 INDIA CEMENT 84.40 95.20 +12.80

4 SRF LTD 1109.15 1248.60 +12.57

5 PC JEWELLER LTD 370.90 416.65 +12.33

6 KIRTI INDUS 98.45 110.45 +12.19

7 MTHOOT FINANCE 185.20 207.40 +11.99

8 AMTEK AUTO 145.85 162.30 +11.28

9 ESCORTS LTD 119.70 132 +10.28

10 MMTC 45.95 55.55 +10.01

11 ENGINEERS INDIA 220.05 241.15 +9.59

12 INDIABULLSHOUSING

559.35 655.05 +9.29

13 R COM 58 63.25 +9.05

14 BAJAJ AUTO 2390.60 2587.55 +8.15

15 TVS MOTORS 239.85 258.15 +7.63

SR.NO SCRIPTNAME

PREVCLOSE

CMP % CHANG

1 TECH MAHINDRA 545.30 472.05 -13.43

2 JSW ENERGY LTD 106.95 95.55 -1.66

3 SE INVESTMENT 325 300 -7.95

4 CHENNAI PETRO 179.15 165.50 -7.62

5 CANARA BANK 307.20 286.70 -6.67

6 JINDAL ST AND PWR

90.45 84.54 -6.63

7 ADANI ENTERPRISES

97.15 90.80 -6.54

8 VOLTAS LTD 338.75 316.80 -6.48

9 INDIAN BANK 149.55 140.00 -6.39

10 MIND TREE LTD 1363.15 1276.50 -6.36

11 HINDALCO INDUS 117.25 110.55 -5.71

12 PFC 275.75 261.20 -5.28

13 ROLTA INDIA 106.40 100.95 -5.12

14 UCO BANK 55.85 53.20 -4.74

15 HINDZINC 169.25 161.55 -4.55

CURRENCY MARKET

USDINR R2 R1 PP S1 S2

DAILY 64.11 63.98 63.71 63.58 63.31

WEEKLY R2 R1 PP S1 S265.83 64.53 63.88 63.23 61.93

MONTHLY R2 R1 PP S1 S264.89 64.15 63.78 63.41 62.67

EURINR R2 R1 PP S1 S2

DAILY 71.65 71.03 70.72 70.41 69.79

WEEKLY R2 R1 PP S1 S274.94 72.28 70.95 69.62 66.96

MONTHLY R2 R1 PP S1 S273.29 71.67 70.86 70.05 68.43

JPYINR R2 R1 PP S1 S2

DAILY 52.52 52.06 51.83 51.60 51.14

WEEKLY R2 R1 PP S1 S254.85 52.97 52.03 51.09 49.21

MONTHLY R2 R1 PP S1 S253.88 52.58 51.93 51.28 49.98

GBPINR R2 R1 PP S1 S2

DAILY 101.49 100.15 99.48 98.81 97.47

WEEKLY R2 R1 PP S1 S2105.59 101.79 99.89 97.99 94.19

MONTHLY R2 R1 PP S1 S2 103.92 101.12 99.72 98.32 95.52

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

✍ Credibility of Indian economy has been partly restored: Arun Jaitley -

Finance Minister Arun Jaitley reportedly said that the credibility of Indian economy has beenpartly restored and the momentum must be sustained over the next two years. Jaitley added thatthere is "huge amount of enthusiasm" among investors as they see India picking up again,according to reports.It is only then that investors world over are going to feel comfortable. Theinitial signs are good but I think this is momentum which has to be sustained over a period oftime," quoted FM. Jaitley also stated that the reform process is clear, the government's thinkingis clear.

✍ RBI to tighten regulations as foreign investors attempt to bypass FPI limit -

While market regulator SEBI finds nothing inappropriate in Deutsche Bank’s $1-billioninvestment via UTI MF’s Guernsey-based subsidiary in the Indian debt market in May thisyear, RBI happens to hold a different ground, says a report.The banking regulator has gotalarmed by this investment and is looking to tighten norms.Deutsche Bank could also bebypassing the FPI investment limits of 30 billion dollars in government securities by investingthrough UTI mutual fund, the report said.“We are aware of the transaction. Investments by FPIsin mutual funds fall under the corporate bond limit of USD 51 billion. We are, however,reviewing the regulation to ensure greater clarity in this area and that there is no room for anyambiguity,” said RBI in response to a questionnaire sent by The Indian Express regarding theinvestment.The Securities and Exchange Board of India however happens to find nothing amissin the investment. Banks, Sovereign Wealth Fund, Mutual Funds and others fall under thecategory of FPIs. As per Regulation 21(1) of SEBI (FPI) Regulations, 2014, an FPI is allowedto invest in certain securities including units of mutual funds, the capital markets regulator said,as mentioned in the report.

✍ Thomas Cook, Cox & Kings slump on Greece crisis -

Thomas Cook and Cox & Kings traded on a slippery note on fears of earnings hit from theGreece crisis.According to reports, these travel companies generate almost 65 percent of theEBITDA from UK travel and educational business.Hence, exit of Greece from the Eurozonemay lead to revenue and foreign exchange losses for Thomas Cook and Cox & Kings. Theformer slumped 4.5 percent to Rs. 220, while the latter tumbled over 6 percent to Rs. 235.

✍ Dr Reddy's Laboratories recalls anti-seizure, hypertension drugs from US market

-Dr Reddy’s Laboratories has initiated voluntary recall of some drugs used to treat seizure andhypertension from the U.S. market, according to reports,A report says that the firm startedrecalling Divalproex Sodium extended-release tablets as it has failed dissolution tests.The drug,which is used to treat certain types of seizures (epilepsy), is being recalled under the “class-II”

classification, says report.Media report says that according to a communication issued by theUSFDA, the drug maker has began recalling Divalproex Sodium extended-release tablets, USP,250 mg of 100 count (7,479 units) and 500 count bottles (2,544) units on the ground of "faileddissolution specifications.

✍ Kotak Mahindra Bank gets shareholders approval for 1:1 bonus share -

Shareholders gives approval to Kotak Mahindra Bank's proposal for issuance of bonus shares,according to reports.The annual general meeting held today has approved issuance of "bonusshares in the proportion of one equity share for every equity share of face value Rs 5 held bysuch person on the record date," Kotak Mahindra Bank said. The bonus shares so issued andalloted will rank in all respect with the existing fully paid equity shares of the bank.

✍ Pref allotments, bonus and IPO: Sebi bans 239 players for misuse of SME tradingplatform -

The Securities and Exchange Board of India (Sebi) has barred 239 individuals and entities fromaccessing the securities market for misusing the small and medium enterprises(SME) tradingplatform of exchanges to launder money and to evade taxes, according to reports.A report says that SEBI had noticed huge rise in the traded volumes and prices of Eco FriendlyFood Processing Park,Esteem Bio Organic Food Processing,Channel Nine Entertainment andHPC Biosciences.These companies were listed on the SME segment of BSE during January2013 to March 2013, says report.During this period, the four companies raised funds throughseries of preferential allotments.Consequent to the preferential allotments and bonus issues,theshare capital of these companies increased manifold.

✍ Bank of India, Canara Bank down on ratings downgrade -

Bank of India and Canara Bank are trading on a feeble note on the back of ratings downgradeby Moody's Investors Service. According to reports, the ratings agency has downgraded boththe banks by a notch down in terms of Baseline Credit Assessments (BCAs), an indication ofintrinsic or standalone financial strength of the company. Bank of India so far has touched alow of Rs. 169, and is now down 0.6 percent at Rs. 171. Rs. 281.

✍ RCom up on plans to sell stake in tower unit -

Reliance Communications (RCom) is trading with traction in morning trade after the companysaid that it was in talks with certain companies for stake sale in its tower unit. According to arelease issued by the company to the BSE, RCom has stated that is in talks with AmericanTower Company (ATC) and Carlyle to sell majority stake in its tower subsidiary RelianceInfratel in this financial year. The stock so far has touched a high of Rs. 63.60, and is now up2.5 percent at Rs. 63.30. The counter has seen trades of around 1.16 million shares as againstthe two-week daily average volume of around 6.66 million shares on the BSE.

✍ Bank of Maha up on tie-up with MUDRA Bank -

Bank of Maharashtra has advanced over a percent to touch a high of Rs. 35.85 on the back oftie-up with MUDRA Bank. According to media reports, Bank of Maharashtra and MUDRABank (Micro Units Development and Refinance Agency) have signed an agreement to finance

new entrepreneurs and small businesses. To government aims to facilitate credit up to Rs. 1lakh crore under MUDRA scheme this fiscal year. The stock is now up 0.9 percent at Rs. 35.80.The counter has seen trades of around 1,098-odd shares as against the two-week daily averagevolume of around 27,000 shares on the BSE.

✍ IndiGo, Infibeam, Teamlease eye over Rs. 3000 cr via IPOs -

IndiGo, Teamlease and Infibeam have lined up public offers to raise an estimated over Rs,3,000 crore from investors, according to reports. A report says that the draft papers for IPOswere being submitted to capital markets regulator Sebi today. InterGlobe Enterprises, whichruns the country's biggest airline by market share under 'IndiGo' brand, is planning to raise Rs.2,000-2,500 crore through the IPO, Teamlease is also planning to raise Rs. 450-500 crore andInfibeam about Rs. 400 crore via IPO, says report.

✍ Nestle India surges on favourable HC verdict -

Nestle India has surged nearly 4 percent to hit a high of Rs. 6,300 on the back of favourableBombay High Court order. According to a release issued by the company to the BSE, theBombay High Court has allowed the company to continue the export of MAGGI noodles. TheCourt has fixed 14 July, 2015, as the next date for hearing the matter. The stock is now up over3 percent at Rs. 6,259. The counter has seen trades of around 24,000 shares as against thetwo-week daily average volume of around 16,000 shares on the BSE.

✍ Prakash Industries paid Rs. 14.85 crores to govt in coal block case -

Prakash Industries Ltd has announced that in addition to earlier payment of Rs. 234.22 croresdeposited by the Company in the month of December, 2014, it has further deposited an amountof Rs. 14.85 crores on June 29, 2015, thereby making full and final payment of Rs. 249.07crores with the Coal Controller, Ministry of Coal, towards the additional levy against its ChotiaCoal Block in terms of the order of the Hon'ble Supreme Court of India

✍ RBI announces rate of interest on Floating Rate Bonds, 2017 -

The rate of interest on the Floating Rate Bonds, 2017 (FRB, 2017) applicable for the half-year(July 2, 2015 to January 01, 2016) shall be 8.15 per cent per annum. It may be recalled that therate of interest on the FRB, 2017 was set at a mark-up (as decided in the auction held on July 1,2002) over and above the variable base rate. The variable base rate for payment of interest shallbe the average rate (rounded off up to two decimal places) of the implicit yields at cut-offprices of the last six auctions of Government of India 364-day Treasury Bills held up to thecommencement of the respective half yearly coupon period which works out to be 7.81 percent. The mark-up decided in the auction held on July 1, 2002 was (+) 0.34 per cent (plus 34basis points). The coupon rate has thus been fixed at 8.15 per cent.

✍ Petrol price cut by Rs. 0.31/L, diesel by Rs 0.71/L -

Effective midnight, petrol price will be cut by Rs. 0.31/L and diesel prices will be cut by Rs0.71/L. Prices of Petrol and Diesel were last revised w.e.f. 16th June'15. Since last price

change, there has been a decrease in international prices of both Petrol & Diesel. INR-USDexchange rate has appreciated during this period. Combined impact of both these factorswarrants a downward revision in prices, the impact of which is being passed on to theconsumers with this price decrease. The movement of prices in international oil market andINR-USD exchange rate shall continue to be monitored closely and developing trends of themarket will be reflected in future price changes. Indian Oil Corporation, in a press release said,"Decrease in Retail Selling Price of Petrol by Rs. 0.31/litre at Delhi (including State levies)with corresponding price revision in other States. With this change, the price of Petrol in Delhiwill become Rs. 66.62/litre." It added, "Decrease in Retail Selling Price of Diesel (Retail) byRs. 0.71/litre at Delhi (including State levies) with corresponding price revision in other States.With this change, the price of Diesel in Delhi will become Rs. 50.22/litre."

✍ Alibaba to acquire additional stake in Paytm -

Chinese e-commerce giant Alibaba is in discussion to increase its stake in India's one of therapidly growing online portal Paytm by 40%, showing its eagerness to become the major playerin the Indian retail market. Paytm is expected to be Alibaba's shoulder in e-commerce play inIndia. Alibaba which has already acquired a 25 percent stake in Paytm through its subsidiaryAnt Financial, is now estimated to invest in around $ 600 million (Rs. 4,000 crore), to buyanother 20 percent additional stake in the firm owned by One97 Communications. With thisinvestment Alibaba, would become the biggest investor in Paytm making its valuation at $3.7billion (Rs 23,600 crore) on a post money basis, leading to a 270 percent hike on the $1-billionvaluation in the previous funding round, which again would be marked as thriller essence ofIndia's e-commerce segment. Currently the Noida-based firm, has raised around $200 millionfrom Ant Financial. Though the initial deal was to invest around $575 million in two tranches,and the latest round of funding is estimated to be the second tranche of the previous investment.It is estimated that this latest deal would take Paytm into the major league of Online marketplace co-existence with Flipkart, Snapdeal and Amazon India, giving them neck-to-neckcompetition in Indian market. Alibaba wants to create a revolution in the Indian online marketby creating ecosystems of mobile devices, operating systems, electronic payment solution andservices such as entertainment and commerce on top of the ecosystem.

✍ Indian Hotels delists GDRs from LSE -

Indian Hotels Company has announced that the Company had proposed to delist the 1,96,380GDRs representing 0.02% of the present paid equity capital of the Company, outstanding as onMarch 31, 2015. The Financial Conduct Authority, UK and the London Stock Exchange (LSE)have confirmed that the said GDRs have been delisted from the Official List and are cancelledfrom admission to trading on the LSE with effect from June 29, 2015, 8.00am London time.Consequently, the Company has also issued a notice to Citibank N.A for termination of theexisting Depository Agreements of the GDR’s.

✍ JSW Energy up on massive fund raising plans -

JSW Energy is trading on a positive note on the back of future growth plans. According tomedia reports, the company is planning to raise up to Rs. 12,500 crore as the company preparedto expand its business through organic and inorganic ways. The stock so far in the day hastouched a high of Rs. 100, and is now up 1.5 percent at Rs. 99.70. The counter has seen trades

of around 24,000 shares as against the two-week daily average volume of around 183,000shares on the BSE.

✍ Godrej Properties gains on launching new project -

Godrej Properties is trading on a firm note in early morning deals on the BSE, on the back ofpositive news flow. According to a release issued by the company to the BSE, GodrejProperties today announced that it has added a new project off Kankapura Road, in SouthBengaluru to its development portfolio. The stock climbed to a high at Rs. 255, and is now upover 2 percent at Rs. 252. The counter has seen trades of around 1,768 shares as against thedaily average volume of 14,000 shares.

✍ Chambal Fert gains on selling textile business -

Chambal Fertilisers & Chemicals is trading on a firm note after the company has executedbusiness purchase agreement for sale of Birla Textile Mills to Sutlej Textiles & Industries onslump sale basis. The company has informed the BSE that the aforesaid transaction is expectedto be completed by 30 September, 2015. The stock so far has hit a high at Rs. 59.60 and is nowup 2.3 percent at Rs. 58.95. Around 34,000 shares are traded on the BSE counter, as againsttwo-week daily average volume of 49,000 shares. Sutlej Textiles has rallied 8.8 percent to Rs.502, with trades of around 19,000 shares on the BSE counter, when compared with two-weekdaily average volume of 13,000 shares.

✍ Blue Star Info spurts on winning new order -

Blue Star Infotech has soared 6.2 percent to a high at Rs. 196 on receiving contract worth Rs.96 crore for providing IT related services. The company has won contract from one of itsexisting customers who is amongst the world's leading commodity trading and logisticscompanies to be executed over a 3 year term. The stock is now up 5.6 percent at Rs. 195. TheBSE counter has registered trades of around 5,194 shares, as against two-week daily averagevolume of 7,222 shares.

✍ Hinduja Global Solutions surges on acquiring stake in BPO -

Hinduja Global Solutions surged nearly 5 percent to a high of Rs. 510 in early morning dealson the back of plans to acquire a significant stake in Mphasis BPO arm. According to a releaseissued by the company to the BSE, the company has entered into definitive agreements withMphasis and its wholly-owned subsidiary MsourcE India for acquisition of significant portionof their Business Process Outsourcing (BPO) business as a going concern on a slump sale basisfor consideration of Rs. 17 crore. The stock has pared some gains but is still up 1.7 percent atRs. 495. The counter has seen trades of around 2,560-odd shares as against the two-week dailyaverage volume of around 1,387 shares on the BSE

✍ Tata Chemicals to evaluate growth and restructuring opportunitie -

With reference to the news item appearing in the media titled "Tatas Look to Exit FertiliserBusiness for a $1b Price Tag", Tata Chemicals Ltd has clarified that in the ordinary course of

our business, we routinely assess the performance of our businesses and the relevant marketconditions, including evaluating growth and restructuring opportunities. As such, we would liketo state that at present there are no developments that would trigger Clause 36 of the ListingAgreement. In the event that there is any development that requires disclosure under clause 36of the Listing Agreement, we will make the same in accordance with regulatory requirements."

✍ Sebi clears Catholic Syrian Bank's Rs. 400 crore IPO -

Catholic Syrian Bank has received Sebi's approval to raise up to Rs. 400 crore through an initialpublic offering (IPO), according to reports. The company had filed its draft red herringprospectus (DRHP) with Sebi through its lead merchant banker, ICICI Securities. The proceedsof the issue will go towards augmenting the bank's capital base to meet its future capitalrequirements, says report. The issue is being managed by ICICI Securities and Kotak MahindraCapital Company.

✍ Jaypee group receives approval to sell power projects -

The Himachal Pradesh Government has given the permission to permit the transfer of twomajor hydro power projects operated by Jaypee group to another private company JSW EnergyLtd, according to reports. A report says that the government has decided to allow the transfer ofKarcham Wangtoo (1000 MW) and Baspa II (300 MW) hydro projects after the two had signeda pact in November 2014. The power deal was signed between the two companies for Rs.9,700crore in November last year. JSW Energy would have 100 per cent stake in the two hydropower projects with a combined capacity of around 1,391 MW, says report.

✍ Hinduja Global Solutions climbs 1.7% on acquiring stake in BPO -

Hinduja Global Solutions added 1.7 percent at Rs. 495, while Mphasis ended on a flat note atRs. 411 after the acquiring deal. Hinduja Global Solutions entered into definitive agreementswith Mphasis and its wholly-owned subsidiary MsourcE India for acquisition of significantportion of their Business Process Outsourcing (BPO) business as a going concern on a slumpsale basis for consideration of Rs. 17 crore. The company has hit a high Rs. 510.10 and a lowof Rs. 490. In Bse, the counter has seen trading volume of around 5772 shares against twoweeks average of 1387 shares.

✍ Strides Arcolab rallies as RBI lifts curb -

Strides Arcolab has rallied over 2.5 percent to Rs. 1,171 on news that the RBI has lifted thecurb on fresh purchases by foreign investors at the counter. According to reports, the CentralBank has lifted a ban on foreign institutional investors buying shares of Strides Arcolab afterFII holding in the company dropped below the threshold limit of 49 per cent. The stock is nowup 2 percent at Rs. 1,165. The counter has seen trades of around 24,000 shares as against thetwo-week daily average volume of around 73,000 shares on the BSE.

✍ CCI approves Crompton Greaves deal -

CCI has cleared Advent and Temasek's Rs 2,000 crore deal to acquire stake in CromptonGreaves Consumer Electricals, according to

reports. A report says that under the proposed combination, Advent and Temasek would snapup 34.37% stake in Crompton Greaves Consumer Electricals from Avantha Holdings.Singapore-based MacRitchie would be acquiring the stake along with Advent, says reportEarlier Competition Commission of India (CCI) had sought clarification on the provision offive- year non-compete restrictions in the Share Purchase Agreement (SPA).

✍ Arvind up on tie-up with Aeropostale -

Arvind has rallied 3 percent to hit a high of Rs. 275 on the back of tie-up with America'sLargest Specialty Youth Retailers. According to a release issued by the company to the BSE,the company has tied-up with Aeropostale Inc., one of America's Largest Specialty YouthRetailers with over 1,000 locations across the Globe - to launch in India in 2016. The stock isnow up 2 percent at Rs. 273. The counter has seen trades of around 184,000 shares as againstthe two-week daily average volume of around 243,000 shares on the BSE.

✍ Rajesh Exports Board approves acquisition in Europe -

Rajesh Exports Ltd has announced that the Board of Directors of the Company at its meetingheld July 02, 2015, have approved to make acquisition/s in Europe in the range of USD 250Min to USD 500 Min. The acquisition has been approved to strengthen the backwardintegration of the Company and to strengthen the domestic and global presence of the Companyin gold business. The Board of Directors have further authorized Rajesh Mehta, Chairman ofthe Company to take all the necessary steps to complete the acquisition.

✍ Nestle India gains 1.8% on FSA clean chit for Maggi -

Nestle India gained 1.8 percent at Rs. 6,250. The UK’s food regulator Food Standards Agency(FSA) gave a clean chit to Nestle for Maggi manufactured in India saying levels of lead in theproduct are well within the EU permissible levels So far, the stock has jumped to a high of Rs,6,375, and has seen trades of around 0.19 lakh shares as against the daily average volume of0.19 shares.

Top Economy news

At a time when PPP projects in highways sector had taken a backseat, government's renewedfocus on it has revived developers interest with projects worth about Rs.135 bn either awardedor in advanced stages of finalisation this fiscal so far.

The government is expected to take a decision on further raising import duty on steel within aweek, Minister of Heavy Industries and Public Enterprises Anant Geete said, in a bid to protectlocal producers from surging imports from countries such as China and Russia.

The economic crisis in Greece may trigger capital outflows from India and the government isconsulting the RBI to deal with the situation, Finance Secretary Rajiv Mehrishi said.

Indian and Mauritian officials will hold talks starting June 30 on proposed amendments to theirbilateral tax treaty.

To control spiralling prices of pulses and other essential food items, the Centre will hold ameeting of all state food ministers on July 7 to chalk out strategies to jointly tackle the crisis inthe backdrop of possible deficient rains this year.

Worried over continuous decline in exports, the Commerce Ministry is considering interestsubsidy benefits for textile sector including garments.

The government is considering imposing 10% import duty on wheat to curb shipments andliquidate poor quality grains lying in FCI godowns.

In what could turn out to be a major boost for fresh investments in the City Gas Distributionsector and allow companies to fix prices, the Supreme Court held that the downstream regulatorPetroleum and Natural Gas Regulatory Board has no power to fix or regulate network tariffs.

Based on sales data from six companies, sale of passenger vehicles is estimated to have grownby 2.41% in June, against an industry growth of 15.83% and 4.67% in April and May,respectively.

The government reduced marginally the import tariff value of gold to US$382 per 10g and ofsilver to US$516 per kg considering weak global price trend in the wake of Greece crisis.

Growth in the country's manufacturing activities slowed down in June as compared to May asnew business orders were not as forthcoming, showed a widely tracked purchasing managers'

index .

Uttar Pradesh sugar mills have again hinted at suspending operations in the coming canecrushing season, for the same reason, the high price of the latter as compared to the return fromsale of sugar.

The central government said it's currently examining the funds requirement of public sectorbanks over the next 3 years and promised required capital support as part of a comprehensivepackage to strengthen them.

Greece made last-minute overtures to its international creditors for financial aid, but it was notenough to save the country from becoming the first developed economy to default on a loanwith the International Monetary Fund.

Government has allocated Rs. 2bn for three years to set up an online national agriculturemarket by integrating 585 wholesale markets across India -- a move that would help farmersrealise better prices.

With an eye on improving farm productivity, the government will spend Rs500bn over the nextfive years under the Pradhan Mantri Krishi Sinchai Yojana.

The government tried to allay concerns on paddy crop, saying there's no threat to it despiteIMD's projection of deficient rains in July and August.

The government and the central bank are in discussions over recapitalisation of state-ownedbanks, Reserve Bank Governor Raghuram Rajan said.

Top corporate news

Arvind Lifestyle Brands Ltd, a subsidiary of denim and branded apparel major, Arvind Ltd,has entered into a licence agreement with the US-based Aeropostale Inc, the speciality retailerof casual and active apparel for young women and men.

HSIL, has entered into the home appliances segment in association with France-headquarteredGroupe Atlantic. HSIL will start selling water heaters manufactured by the French firm through2,500-odd existing retail partners.

Bharti Airtel said it's ready to launch full mobile number portability from tomorrow, whichwill allow customers to retain their numbers across the country.

The Gujarat State Fertilisers & Chemicals Ltd will invest Rs100bn for setting up four newprojects at Dahej near here, a top official said.

M P Birla Group firm Birla Corporation is looking to ramp up its cement production capacityto 15 million tonnes in the next four years.

Larsen & Toubro has bagged orders worth Rs18.85bn for power transmission and distributionprojects in June.

Larsen & Toubro has bagged orders worth Rs 1,885 crore for power transmission anddistribution projects in June. The orders include a major engineering, procurement andconstruction order from Odisha Power Transmission Corporation for setting up substations andassociated lines with complete facilities for the Phase II of Odisha Distribution SystemStrengthening Project.

Jet Airways launched its new website jetairways.com, built around the theme 'designed todelight.

Kotak Mahindra Bank cut its base rate by 0.10% to 9.75, joining its larger rivals which haveannounced such downward revisions in the recent past.

The Gujarat State Fertilisers & Chemicals Ltd will invest Rs 10,000 crore for setting upfour new projects at Dahej.

Arvind Lifestyle Brands Ltd has entered into a licence agreement with Aeropostale, Inc., thespecialty retailer of casual and active apparel for young women and men.

TCS said it will hire 60,000 people this fiscal and impart training to its existing one lakhemployees in various digital technologies.

Adani Enterprises said it has suspended engineering work at USD 16.5-billion Carmichaelmine in Australia on account of delay in approvals.Tata Group Chairman Cyrus Mistry has initiated a plan to hive off and sell the fertiliserbusiness, housed in Tata Chemicals, in his first major restructuring move after becomingchairman in 2012.

Titan Company Limited, has effected major changes in its senior management team, whichwill come into effect from July 1, 2015. The company's watches & accessories division andeyewear divisions will have new heads.

Power producer JSW Energy is planning to raise up to Rs.125 bn through issuance of varioussecurities as it eyes organic and inorganic ways to expand business.

Cholamandalam Investment and Finance said it has joined hands with mobile app-based taxiaggregator, Ola, to offer car loans to the latter's drivers with an option of daily repaymentscheme instead of a monthly payment.

Bharti Airtel has moved up a position in global rankings to become the third largest mobileoperator in the world, in terms of subscribers, the company said in a press release. It now has303 million customers across 20 countries.

Mahindra and Mahindra has set up an Africa-focused business unit as it looks to maintaindouble-digit growth levels in the continent, the company said.

LIC Housing Finance will auction an property belonging to property developer OrbitCorporation for default of loans. LIC Housing Finance has kept a reserve price of Rs.1.25bn forthe 9,083 square metre or over 90,000 sq ft.property.

ITC's packaged food business has crossed the billion-dollar milestone with sales of Rs6,411.27 crore, or about $1.01 billion, in the year ended March 2015.

JSW Steel sought shareholders' approval to raise up to Rs. 4,000 crore through qualifiedinstitutional placement. The Proceeds of the issue will be used for capital expenditure andrefinancing high-cost debt, besides meeting unlikely shortfall in unforeseen circumstances

L&T has secured orders totally valued at Rs. 20.35 bn across various business segments thismonth.

Leading media player Zee Entertainment Enterprises has said it is eyeing a five-fold growthin viewership in the next five years.

JSW Group is considering new investments in the ports sector on the Eastern coast of thecountry. The Group has already invested about Rs10bn on the West coast.

Godrej Group’s Godrej Appliances forayed into the healthcare refrigeration space. Thecompany announced the launch of medical refrigerators under a technology licensingagreement with the UK-based The Sure Chill Company.

Emami Ltd said it has launched Zandu Gel Balm Junior, a mild version of the pain reliever forkids.

JSW Steel has sought shareholders' approval to raise Rs40bn through qualified institutionalplacement.

Ashok Leyland said that it is committed to light commercial vehicle (LCV) business and willwork with its partner to improve the profitability. The LCV business, for which it had joinedwith Nissan, is under pressure due to high loss that stood at Rs7.91bn in 2014-15.

The special economic zone unit of Jamnagar refinery of Reliance Industries Limited isplanning to shut down one crude distillation unit for routine maintenance and inspectionactivities in the first half of July for about 10 days.

Pharma major Lupin is looking at strengthening its branded portfolio by creating alliances andeyeing strategic brand acquisitions in US markets in 2015-16. The United States is Lupin'slargest market and contributed 45% of the company's revenues in 2014-15.

Realty firm Unitech Ltd has raised about Rs700mn from Piramal group to complete

construction of its joint venture housing project in Chennai. The company is developing about49 acres project 'North Town' in Chennai in partnership with another realty firm Arihant. About2,400 flats and villas are being developed.

Leading airline IndiGo is likely to soon approach market regulator Sebi with its IPO plan toraise an estimated Rs. 25 bn.

Mahindra & Mahindra unveiled its new range of sub one-tonne truck 'Jeeto' in the UttarPradesh market. UP clocks sales of nearly 13,000 units in the sub one-tonne truck category perannum across different makes.

Reliance Group’s Reliance Retail is looking to raise Rs2bn from the public through jewellerypurchase schemes via its jewellery format Reliance Jewels.

ISGEC Heavy Engineering Ltd, the Noida-based diversified engineering company, hasformed joint venture with the US-based Titan Metal Fabricators Inc, which designs andfabricates highly corrosion-resistant process equipment for industries that have corrosionproblems. (ET)

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