TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : The Market has started off week on a positive note, tracking global cues

post US job data.The Nifty50 climbed 38 points to 7751 and 0.43 per cent. Asian market is

also opened in a positive note tracking the US market on Monday. Sentiment on Wall

Street improved after a report showed that economic activity in the US manufacturing

sector expanded in March for the first time in six months. Equity benchmarks lost half a

percent in early trade Tuesday on weak Asian cues and ahead of RBI Monetary Policy.

Reserve Bank of India in its first bi-monthly Monetary Policy review for 2016-17 has cut

the repo rate by 0.25 bps to 6.5 per cent. The Chinese data surprising the market with

better-than-expected manufacturing data in months. It is back to fundamentals for our

market. Earnings are not growing fast, the global scenario is poor and that is why the

market has fallen. There is very little in terms of a catalyst to take the market higher. If

that continues, you could see this market go down further, maybe to the 7,400 level. The

strong support for Nifty is 7507-7420 and Resistance for Nifty is 7590-7680.

BANK NIFTY : - The Bank Nifty Open Positive on Monday at 16236 Up by 62 points or

0.47 per cent , The Reserve Bank of India on Tuesday cut the key interest rate by 0.25 per

cent and introduced a host of measures to smoothen liquidity supply so that banks can lend

to the productive sectors and indicated accommodative stance going ahead. And it raised

the Reserve repo rate by 25 basis points. Reserve Bank of India Governor Raghuram

Rajan sounded dovish in his policy statement , saying that the interest rates are now

significantly lower and will continue to be so. US Federal Reserve Chair Janet Yellen

believes the strength in the US labour market would warrant more rate hikes in the future.

We are optimistic about the market in near term. The Bank Nifty Strong Support around is

15420-15100 and Up side 16040-16180.

Monday, 11 April 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

7675 7591 7549 7507 7420

WEEKLY R2 R1 PP S1 S2

8327 7853 7616 7379 6905

MONTHLY R2 R1 PP S1 S2

8326 7852 7615 7378 6904

BANK NIFTY

DAILY R2 R1 PP S1 S2

16045 15733 15577 15421 15109

WEEKLY R2 R1 PP S1 S2

18234 16596 15777 14958 13320

MONTHLY R2 R1 PP S1 S2

18227 16589 15770 14951 13313

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7623 7420 7576 7890

BANK NIFTY 15710 15081 15799 16830

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7784 6986 7901

BANK NIFTY 16260 13590 18056

PATTERN FORMATION ( NIFTY )

Detail of Chart -

On the Above given chart of Nifty has applied the MACD along with Fibonacci

retracement these are the trend identifying pattern and made the Support and Resistance

level in the Nifty daily chart that made on the above given chart we have draw the

channel line for mare than the week period and earlier it was not able to break the up

level as well as lower level. However in last trading session it has break the lower level of

channel line which was the strong support for the Nifty50 around 7550. Now we are

expecting that if the Nifty is not able to sustain the 7500 level we may witness the Bear

trend of Nifty on the other hand if Nifty rebound the 7550-7600 level again we may see

the positive rally in the index. The Strong Support for Nifty 50 is 7520-7460 and the

Resistance is 7600-7680.

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On the Above given chart of the Bank Nifty has applied the MACD along with Fibonacci

retracement these are the trend identifying pattern and made the Support and Resistance

level in the Bank Nifty daily chart that made on the above given chart we have draw the

channel line for mare than the week period and earlier it was not able to break the up

level as well as lower level. However in last trading session it has break the lower level of

channel line which was the strong support for the Bank Nifty around 15650. Now we are

expecting that if the Bank Nifty is not able to sustain the 15500 level we may witness the

Bear trend of Bank Nifty also on the other hand if Bank Nifty is able to break the Up side

the level of 15680-15720 level again we may see the positive rally in the index. The

Strong Support for Bank Nifty 50 is 14960-14450 and the Resistance is 15640-15730

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1470 1456 1433 1419 1396 ALBK EQ 55 54 54 53 52

AMBUJACEM EQ 235 231 227 223 219 ASIAN PAINT EQ 866 859 854 847 842 AXISBANK EQ 430 425 423 418 415 BAJAJ-AUTO EQ 2433 2409 2379 2355 2325 BANKBARODA EQ 145 144 143 141 140 BANKINDIA EQ 93 92 91 90 88 BHEL EQ 127 125 121 119 115 BHARTIARTL EQ 342 338 332 328 322 CIPLA EQ 512 508 506 502 500 COALINDIA EQ 285 283 280 278 275 DLF EQ 121 120 116 115 111 DRREDDY EQ 3112 3076 3053 3017 2994 GAIL EQ 356 351 344 339 332 GRASIM EQ 4069 4029 3952 3912 3835 HCLTECH EQ 841 838 831 828 821 HDFC EQ 1090 1084 1076 1070 1062 HDFCBANK EQ 1067 1063 1058 1054 1049 HEROMOTOCO EQ 3009 2967 2924 2882 2839 HINDALCO EQ 90 89 87 86 84 HINDUNILVR EQ 871 860 853 842 835 ICICIBANK EQ 225 223 221 219 217 ITC EQ 324 322 321 319 318 INDUSIND BANK EQ 950 944 939 933 928 INFY EQ 1184 1175 1169 1160 1154 JINDALSTEL EQ 72 69 64 61 56 KOTAKBANK EQ 676 670 664 658 652 LT EQ 1206 1200 1190 1184 1174 M&M EQ 1257 1246 1227 1216 1197 MRF EQ 36377 35888 35601 35112 34825 MARUTI EQ 3499 3468 3443 3412 3387 ONGC EQ 211 208 207 204 203 ORIENTBANK EQ 88 87 86 85 84 RCOM EQ 52 51 50 49 47 RELCAPITAL EQ 383 378 371 366 359 RELIANCE EQ 1063 1050 1040 1027 1017 RELINFRA EQ 554 547 540 533 526 RPOWER EQ 51 50 49 48 47 SBIN EQ 185 184 182 181 179 SSLT( VEDL) EQ 90 89 86 85 82 SUNPHARMA EQ 822 817 812 807 802 TATAMOTORS EQ 384 377 374 367 364 TATAPOWER EQ 68 67 65 64 63 TATASTEEL EQ 327 324 322 319 317 UNIONBANK EQ 128 126 125 123 122

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS( AS PER ECHNICAL ANALYSIS PRIDICTION )

NSE FUTURE

NSE CASH :COX&KINGS MADE WEEKLY HIGH OF 194 AND LOW OF 172.55. LONG

POSITION CAN BE MADE IN IT ABOVE 181 FOR TGT OF 195 AND SL OF 176.

NSE CASH :MARKSANS MADE WEEKLY HIGH OF 49.20 ANL LOW OF 45.20.LONG

POSITION CAN BE MADE ABOVE 49.50 FOR TGT OF 54 AND SL OF 47.70.

NSE CASH :JETAIRWAYS MADE HIGH OF 632.95 AND LOW OF 573.25.LONG POSITION

CAN BE MADE ABOVE 633 FOR TGT OF 690 AND SL OF 612.

NSE CASH :NCC MADE HIGH OF 77 AND LOW OF 72.10. LONG POSITION CAN BE

MADE IN IT ABOVE 73.50 FOR TGT OF 79.50 AND SL OF 71.30

NSE CASH :IFCI MADE HIGH OF 25.20 AND LOW OF 23.55. LONG POSITION CAN BE

MADE IN IT ABOVE 24.10 FOR TGT OF 26.10 AND SL OF 23.25.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 ADANI PORTS LTD. 247 219 -11.49 %

2 MARUTI SUZUKI 3716 3440 -8.62 %

1 MARUTI SUZUKI

3716

3440

-8.62 %

2 MARUTI SUZUKI

3716

3440

-8.62 %

3 MARUTI SUZUKI

3716

3440

-8.62 %

4 MARUTI SUZUKI

3716

3440

-8.62 %

5 MARUTI SUZUKI

3716

3440

3 ICICI BANK 236 221 -6.51 %

4 SBI 194 183 -5.74 %

SBI

194

183

-5.74 %

SBI

194

183

-5.74 %

SBI

194

183

-5.74 %

SBI

194

183

-5.74 %

SBI

194

183 5 AXIS BANK LTD. 444 421

-5.08 %

6 BHARTI AIRTEL 350 334 -4.62 %

BHARTI AIRTEL

350

334

-4.62 %

BHARTI AIRTEL

350

334

-4.62 %

BHARTI AIRTEL

350

334

-4.62 %

BHARTI AIRTEL

350

334

-4.62 %

BHARTI AIRTEL

350

334 7 INFOSYS 1218 1165

-4.31 %

8 COAL INDIA LTD. 291 279 -4.23 %

COAL INDIA LTD.

291

279

-4.23 %

COAL INDIA LTD.

291

279

-4.23 %

COAL INDIA LTD.

291

279

-4.23 %

COAL INDIA LTD.

291

279

-4.23 %

COAL INDIA LTD.

291

279 9 TECH MAHINDRA 474 455

-4.02 %

10 TATA MOTORS LTD 386 371 -3.92 %

TATA MOTORS LTD

386

371

-3.92 %

TATA MOTORS LTD

386

371

-3.92 %

TATA MOTORS LTD

386

371

-3.92 %

TATA MOTORS LTD

386

371

-3.92 %

TATA MOTORS LTD

386

371 11 ONGC 214 206

-3.71 %

12 TCS 2520 2432 -3.50 %

TCS

2520

2432

-3.50 %

TCS

2520

2432

-3.50 %

TCS

2520

2432

-3.50 %

TCS

2520

2432

-3.50 %

TCS

2520

2432

13 BHARTI INFRATEL 381 369 -3.25 %

14 INDUSIND BANK 967 937

-3.16 %

INDUSIND BANK

967

937

-3.16 %

INDUSIND BANK

967

937

-3.16 %

INDUSIND BANK

967

937

-3.16 %

INDUSIND BANK

967

937

-3.16 %

INDUSIND BANK

967

937

15 BANK OF BARODA 147 143 -2.65 %

SR.NO SCRIPT NAME PREV

CLOSE CMP % CHANGE

1 JET AIRWAYS 547 614 +12.36 %

2 CENTURY TEXTILE 529 575 +8.71 % CENTURY TEXTILE

529

575

+8.71 %

CENTURY TEXTILE

529

575

+8.71 %

CENTURY TEXTILE

529

575

+8.71 %

CENTURY TEXTILE

529

575

+8.71 %

CENTURY TEXTILE

529

575

3 BHEL 113 122 +7.86 %

4 ACC 1381 1441 +4.34 % 1. ACC

1381

1441

+4.34 %

2. ACC

1381

1441

+4.34 %

3. ACC

1381

1441

+4.34 %

4. ACC

1381

1441

+4.34 %

5. ACC

1381

1441 5

LUPIN LIMITED 1479 1540 +4.11 %

6 HCL TECH 814 833 +2.33 % HCL TECH

814

833

+2.33 %

HCL TECH

814

833

+2.33 %

HCL TECH

814

833

+2.33 %

HCL TECH

814

833

+2.33 %

HCL TECH

814

833

7 NTPC 128 131 +2.10 %

8 TATA POWER CO. 64.65 65.80 +1.78 % TATA POWER CO.

64.65

65.80

+1.78 %

TATA POWER CO.

64.65

65.80

+1.78 %

TATA POWER CO.

64.65

65.80

+1.78 %

TATA POWER CO.

64.65

65.80

+1.78 %

TATA POWER CO.

64.65

65.80

9 M&M 1210 1232 +1.78 %

10 AUROBINDO PHAR. 744 758 +1.77 % A

U

R

O

B

I

N

D

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P

H

A

R

.

744

758

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11 POWER GRID CORP 139.10 140.90 +1.29 %

12 TATA STEEL 319.70 322.10 0.75 % T

A

T

A

S

T

E

E

L

319.70

322.10

0.75 %

T

A

T

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319.70

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322.10

13 ZEEL 386.95 389.10 0.56 %

14 DR. REDDY’S LABS 3035 3039 0.13 % D

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EICHER MOTORS 19180 19181 +0.01 %

AM

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204 232 +13.67

% AMBUJA CEMENT

2. B

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LTD.

18128 20371 +12.37

% 3. B

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ACC 1240 1385 +11.68

% ACC

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

India's manufacturing PMI at eight-month high in March on strong demand -

India's manufacturing growth rose to an eight-month high in March driven by strong rise

in business orders, leading firms to scale up output, while the build-up in inflationary

pressures may result in RBI hitting the pause button. The seasonally-adjusted Nikkei

India Manufacturing Purchasing Managers' Index -- a composite single-figure indicator of

manufacturing performance -- was up from 51.1 in February to an eight-month high of

52.4.

Arun Jaitley: High interest rates can lead to sluggish economy - Finance Minister

Arun Jaitley stated that it is difficult to keep GST rate between16-18% if luxury goods are

kept out of Its ambit. Capital spending of railways will increase significantly, Arun

Jaitley added. The FM added that high interest rates can lead to sluggish economy and

therefore it is important that India maintains its pace of reforms.

India can't grow on the back of FDI for long: Amitabh Kant - At a time when BJP-

led NDA government is opening up its key sectors to foreign direct investment, a top

official of its think tank NITI Aayog said that the country would not grow on the back of

FDI for a very long time. "India cannot grow on the back of FDI for very long. It will

grow on the back of domestic market and government is creating an enabling

environment to do so,"he said India should be clear that it needs to have rigorous

approach to manufacturing through exports. "Make for India is absurd. Challenge for

India is to look at right size and scale and think of global markets to drive its growth as

was done by China," Kant said. Kant was speaking at the CII session on "Global

slowdown - implications for the world's fastest growing economy.

RBI cuts interest rate to lowest since 2011, but raises reverse repo - The Reserve

Bank of India cut its policy interest rate by a quarter percentage point on Tuesday,

reducing it to a more than five-year low while dangling the prospect of another cut later

this year if inflation trends stay benign. Cut in the repo rate by 25 basis points to 6.50

percent - the lowest since January 2011. Controlling inflation is the central bank's

priority, but government would welcome any move to improve business conditions for

industrialists who, despite data depicting India as one of the world's fastest growing

economies, remain hesitant to invest. The RBI said its policy would remain

"accommodative", raising the prospect of another 25 bps rate cut later this year. "The

stance of monetary policy will remain accommodative. The Reserve Bank will continue

to watch macroeconomic and financial developments in the months ahead with a view to

responding with further policy action as space opens up," the central bank said in the

statement following the policy review.

Tax proposal on spectrum allocation may cost telcos Rs. 30,000 crore: COAI - The

Union Budget's proposal to levy service tax on spectrum allocation may require telecom

operators to cough up Rs. 30,000 crore in 2016-2017, COAI said. The outgo of huge

amount of sum for assignment of airwaves and licence fees is likely to put additional

financial burden on the industry. The telecom operators have unanimously asked the roll

back of the Union Budget proposal to levy service tax on spectrum allocation. COAI said

"This is a substantial financial burden on the industry, which is reeling under debt,"

pointing out that in the upcoming spectrum auction, the industry will have to spend

atleast Rs. 77,000 as service tax if the reserve price is estimated at Rs. 5.36 lakh crore.

State polls driving Rs 60,000 crore surge in cash circulation: Raghuram Rajan - RBI

Governor Raghuram Rajan today said money in people's hands has gone up by over Rs

60,000 crore which is "not normal" and needs to be looked into. "Around election time,

cash with the public does normally increase.. You can guess as to reasons why, we can

also guess," Rajan told reporters here after announcing his first bi-monthly monetary

policy review of this fiscal. However, cash in people's hands is up by more than Rs

60,000 crore at present, which is "not normal", he added.

The Finance Minister Arun Jaitley: After Recapitalization of Banks Government to

Push the Bank to Merger - The government will push for consolidation of public sector

banks once they are capitalised and strengthened, Finance Minister Arun Jaitley said on

Tuesday and promised more measures to enhance the ease of doing business in India. He

also said that he hoped for some "positive" development in the government's

disinvestment programme and a better monsoon to drive the economy forward.

India less susceptible to external shocks, credit positive: Moody’s - The Moody’s

Rating Agency Said that “We do not expect a significant renewed widening of India’s

current account deficit. Our assumption that commodity prices will remain low in 2016

and 2017 supports this view, while FDI inflows are likely to climb in response to

government measures,” it said. In a report it said that India’s external financing needs

have diminished significantly over the last three years. “These trends are credit positive,

as they lower India’s susceptibility to external shocks at a time when capital flows to

emerging markets are volatile, and weak economic conditions globally and in particular

in the Gulf may dampen remittances,” it added.

Government to lean on public sector banks for rate cut - The government will lean on

state-run banks that are reluctant to pass on the full effect of measures taken by Reserve

Bank of India in the form of rate cuts that are badly needed to shore up growth. After RBI

lowered the policy rate by 25 basis points and took a range of measures to enhance

liquidity, the government feels banks have little excuse not to pass on benefits to

consumers. One basis point is 0.01 percentage point. We would want the banks to reduce

rates latest by May 1. We will exert pressure on banks to do so," a top government

official told.

WTO says global trade will remain sluggish in 2016 - The World Trade Organization

has forecasted a sluggish 2.8 per cent growth in the volume of world trade in 2016,

unchanged from the level of increase registered the previous year. A status quo in world

trade does not augur well for India's export prospects, which have been declining

continuously in the past 15 months. The forecast also indicates that Commerce Minister

Nirmala Sitharaman's task to revive India's sagging export growth by focusing on making

special economic zones more business friendly, could be tough as key developed markets

is likely to remain sluggish.

✍ TOP ECONOMY NEWS

The Delhi government presented an annual budget of Rs. 466 billion for 2016-17, an

increase of Rs. 88.5 billion over last year.

Food regulator Food Safety and Standards Authority of India has restricted enforcement

activity against nutraceuticals and health supplement companies to only testing of

products till new standards are notified.

The European Investment Bank will give EUR450 million in loan to India to finance the

construction of Lucknow's first 23 km-long metro rail line and purchase a fleet of new

trains.

Making life easy for millions of importers, the Central Board of Excise and Customs has

launched a significant initiative ‘SWIFT to help reduce dwell time and improve ease of

doing business. Providing a single point interface for clearance of imported

consignments, The Single Window Interface for Facilitating Trade is expected to reduce

documentation and cost of clearance. More than 97% of India’s imports are expected to

get covered and benefit from the SWIFT initiative.

The government has further eased norms for the gold monetisation scheme, giving

investors the option to redeem the principal amount in medium- and long-term deposits

either in gold or in rupees.

The government has decided to reduce SUC from 5% to 3%. There is still a difference

between the charges applicable on normal operators and those using Broadband spectrum.

But TRAI has decided to address that aspect of the charges in future.

The CPI inflation, which also captures the trend in the more volatile food prices, had

showed some spike since August last year, but in February the all-India general CPI

inflation dipped to a four-month low of 5.18 per cent, snapping the rising spiral in the six

months prior to that.

The Cabinet approved policy changes to enable liberalisation of spectrum that was

assigned to telecom operators providers at an administrative price without auction.

The Union cabinet chaired by Prime Minister Narendra Modi approved a new regime for

crude oil imports that will allow oil Public Sector Undertakings to evolve their own

import policies. The new policy adopts the current market practice for crude purchase on

spot basis allowing firms to effectively compete in the market.

The Centre will launch two schemes including distribution of energy efficient, smart

agriculture pumps, aimed at saving subsidy worth Rs200bn. It will also launch a scheme

to provide energy efficient fans that aim to save Rs700 a year on consumer power bills

every year.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra

Modi, has given its approval for development of the four laning of the Hospet-Bellary-

Karnataka/Andhra Pradesh Border section of National Highway – 63 in Karnataka.

Delineating emerging growth drivers, Dr Naushad Forbes, President, CII, pegged India’s

GDP growth rate for 2016-17 at 7.75 – 8.25 per cent. “Strong macroeconomic

fundamentals, favorable business sentiments, and downward trend in interest rates are

significant positives for the economy. CII estimates that Government infrastructure

investments and increased investments from the private sector will boost GDP growth to

the 8 per cent range.

The shareholders of the TAPI Pipeline Company Limited signed an Investment

Agreement today in a ceremony witnessed by petroleum ministers and senior government

officials of Turkmenistan, Afghanistan, Pakistan and India, and senior Asian

Development Bank officials. It will pave the way for long-term natural gas supplies that

will give a major boost to the signatory countries economies and energy security.

Australia is ready to eliminate import duties on all items from India — about 90%

immediately and rest over the next five years — as part of the proposed free trade

agreement being negotiated, the country’s special envoy for trade Andrew Robb said. The

free trade pact — officially known as the Comprehensive Economic Cooperation

Agreement — is likely to be finalised in about 6-8 weeks, Robb said. This would

translate into import duties on more than 9,000 items out of about 11,000 exported to

Australia coming down to near zero as soon as the pact gets implemented and benefit

sectors like auto parts, textiles, leather and pharmaceuticals.

With bollworm developing resistance to Bt cotton crop, the government has decided to

promote cultivation of indigenous varieties of the crop in a big way this year. In 2015-16

crop year, there was a significant damage to cotton crop because of whitefly and pink

bollworm pest attack in states like Haryana, Punjab, Rajashtan, Gujarat and Andhra

Pradesh.

The extant regulatory framework under the Foreign Exchange Management Act, 1999

requires clients to submit documentary evidence of underlying foreign currency exposure

to Authorized Dealer Category-I banks at the time of booking of derivative contracts.

The Reserve Bank of India has come out with a report as an annual publication entitled

"State Finances: A Study of Budgets", which analyses the fiscal position of state

governments on the basis of primary disaggregated state-wise data.

The government approved a Rs. 16 billion highway project in Karnataka under its

flagship road-building programme NHDP.

✍ TOP CORPORATE NEWS -

Coal India Ltd. has achieved an 8.5% growth rate in production at 536 million tonnes in

2015-16, but missed the output target of 550 MT for the just-concluded financial year.

Maruti Suzuki dispatched 5,563 units of its new compact SUV Vitara Brezza in March,

according to media reports.

Jet Airways is in the process of hiring over 50 expat pilots to fly its widebody Boeing

777 planes, with six of these aircraft, currently on lease to Abu Dhabi-based Etihad

Airways, are expected to start returning to the Indian carrier's fleet from June.

Fresh from acquiring US-based Strength of Nature LLC, homegrown FMCG major

Godrej Consumer Products Ltd. expects overseas markets to account for more than

half of its total sales. The company had announced acquisition of the haircare firm

Strength of Nature LLC last week for an undisclosed sum.

Adani Enterprises Ltd was granted approval by Australia's Queensland state

government to proceed with a proposed USD 7.7 billion project in the Galilee Basin.

Bharat Heavy Electricals Limited has commissioned its fifth 500 MW set at

Chandrapur Super Thermal Power Project in Maharashtra. With this, 9 coal-based sets

aggregating to 3,340 MW, all supplied and commissioned by BHEL, are now operational

at Chandrapur STPP of Maharashtra State Power Generation Co Ltd.

Punjab National Bank subsidiary PNB Housing Finance has raised Rs 5 billion by

issuing bonds to World Bank arm International Finance Corporation for funding its green

residential projects.

Tata Motors Ltd. is reducing the size of its diesel engines to skirt a temporary ban on the

sale of large diesel-powered cars in New Delhi as the government seeks to reduce toxic

smog in the capital city.

The Government cleared conversion of Bank of Baroda's Rs. 299.1million loanto

Andrew Yule & Co into equity shares, paving the way for disinvestment of the Kolkata-

based PSU in the next three months.

Yes Bank inked a tripartite agreement for on-lending USD 50 million loan from World

Bank arm IFC to women entrepreneurs.

Cipla Ltd. has set its sights on building a pipeline of speciality drugs in the United

States. The company, India's third-largest drugmaker, plans to deploy more funds for

research and development in respiratory, dermatology, neurology and oncology segments

and hopes for the first commercial launch in the US around 2020.

After creating success stories with two Bollywood channels in the APAC region, namely,

Zee Bioskop in Indonesia and Zee Nung in Thailand, Zee Entertainment Enterprises

Ltd has forayed into the Philippines with its third dedicated Bollywood movie channel.

Power major NTPC said the board has approved investment proposals worth Rs.

31billion for solar PV projects in Madhya Pradesh and Rajasthan.

Mahindra & Mahindra Ltd has launched a new platform for tractors — YUVO — at

Ramoji Film City about 45 km from Hyderabad.

Drug firm Aurobindo Pharma has received approval from the US health regulator to

market Polymyxin B for Injection, an anti-infective drug, in the American market.

The construction arm of Larsen & Toubro Limited has won orders worth Rs 21.25

billion across its various businesses.

Airtel said its high speed 4G services are now available in 40 towns in Andhra Pradesh

and Telangana.

Moody's Investors Service has affirmed Reliance Communications Limited's Ba3

corporate family rating and senior secured rating.

NMDC Ltd. has produce 28.32 million tonnes of ore and registered total sales of 28.87

m.t. during 2015-2016.

ITC Limited and Starwood Hotels & Resorts have signed an agreement to extend their

existing partnership for 11 ITC Luxury Collection hotels and 1 hotel under the Sheraton

brand. Further strengthening their partnership, the two also announced three upcoming

ITC hotels under The Luxury Collection brand in India.

Natco Pharma Limited has announced the completion of the sale of its Save Mart

Pharmacy store in the US to Care Mart Inc. The Hyderabad-based company had earlier

singed an agreement in this regard which provided for consideration towards goodwill

furniture and fixers and inventory etc, according to a release.

A consortium of banks led by State Bank of India rejected the proposal in the current

form offered by liquor baron Vijay Mallya and his companies to pay Rs. 40 billion by

September towards settlement of his loan before the Supreme Court, which directed him

to disclose his total assets by April 21.

State-run Bharat Heavy Electronics Limited has commissioned an all-time high power

generation capacity of over 15,000 MW and booked new orders worth Rs. 437.27 billion

in 2015-16, the largest in five years.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Country’s fifth largest private lender Yes Bank Ltd. has successfully raised Rs.545 crore

of Basel III compliant Tier II bonds on private placement basis. The issue was closed on

March 31, 2016.

Public sector lender UCO Bank has revised lending rates based on marginal cost of funds

with effect from April 1. For one year loan, the interest rate will be 9.55% while for two

years it is going to be 9.65%, UCO Bank said in a BSE filing.

Public sector lender Syndicate Bank said it has issued unsecured, non-convertible Basel-

III compliant bonds to raise Rs. 5 billion.

The country's largest lender, State Bank of India, has launched a virtual queuing mobile

application that will help customers save on time. "The application is a mobile-based

virtual queuing application for customers to book an instant queue ticket for select

services at select branches. Based on the services selected, the list of branches with

addresses providing those services within a configured radius of 15 kms will be populated

in the application," it said.

The Government today cleared conversion of Bank of Baroda's Rs. 29.91 crore loan to

Andrew Yule & Co into equity shares, paving the way for disinvestment of the Kolkata-

based PSU in the next three months.

Reserve Bank Governor Raghuram Rajan today said there is a need to make country's

banking system more vibrant and to strengthen the markets. "We need to do a lot of

things to make our banking sector more vibrant," Rajan said.

The Government is considering forming a three-member committee to approve the bad

loan settlement plan of Public sector banks, thus providing the management comfort that

their action will not be questioned by vigilance agencies later.

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