TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

Nifty futures/Bank Nifty futures market closed on 8376/ 18779. According to technical analysis if Nifty futuresand Bank Nifty future moves down-word in tomorrow treading session then 8293 will be small support for Niftyfutures and 18436 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can godown to 8194 level and Bank Nifty futures can touch 18040 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 8460 for Nifty futures and18870 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on8638 and 19107 for Bank Nifty futures.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

PIVOT POINT NIFTY

DAILY R2 R1 PP S1 S28598 8444 8368 8291 8138

WEEKLY R2 R1 PP S1 S29125 8655 8421 8186 7716

MONTHLY R2 R1 PP S1 S29125 8655 8421 8186 7716

PIVOT POINT BANK NIFTY

DAILY R2 R1 PP S1 S219508 18991 18732 18474 17957

WEEKLY R2 R1 PP S1 S220489 19315 18727 18140 16965

MONTHLY R2 R1 PP S1 S220967 19434 18668 17901 16369

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8281 8316 8470 8407

BANK NIFTY 18184 18106 18194 18194

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 8445 7955 9038

BANK NIFTY 18405 17142 20848

NSE EQUITY DAILY LEVELS

COMPANY NAME R3 R2 R1 PP S1 S2 S3

ACC EQ 1549 1514 1493 1479 1458 1444 1409ALBK EQ 96 95 93 92 91 90 88

AMBUJACEM EQ 253 247 244 241 238 235 229ASIAN PAINT EQ 842 818 806 794 782 770 745AXISBANK EQ 601 589 583 577 571 565 552BAJAJ-AUTO EQ 2620 2551 2508 2481 2439 2411 2341BANKBARODA EQ 161 158 157 155 154 152 149BANKINDIA EQ 188 184 182 180 178 176 172BHEL EQ 278 273 270 268 265 262 257BHARTIARTL EQ 461 442 430 424 412 405 387CIPLA EQ 677 660 654 644 637 627 611COALINDIA EQ 433 427 423 421 417 414 408DLF EQ 124 119 117 115 112 110 106DRREDDY EQ 3846 3794 3772 3742 3720 3690 3638GAIL EQ 382 372 366 362 356 352 342GRASIM EQ 3740 3656 3626 3573 3543 3489 3406HCLTECH EQ 950 937 931 924 918 911 898HDFC EQ 1316 1300 1292 1285 1276 1270 1254HDFCBANK EQ 1137 1111 1101 1084 1074 1058 1031HEROMOTOCO EQ 2690 2638 2604 2585 2552 2532 2479HINDALCO EQ 110 107 105 104 102 101 98HINDUNILVR EQ 971 938 919 905 886 872 838ICICIBANK EQ 322 317 315 312 310 308 303ITC EQ 319 314 312 309 307 304 299INDUSIND BANK EQ 929 912 903 895 886 878 861INFY EQ 979 960 948 940 929 921 901JINDALSTEL EQ 97 90 87 83 80 76 69KOTAKBANK EQ 735 720 715 705 700 691 676LT EQ 1929 1899 1887 1868 1857 1838 1807M&M EQ 1308 1282 1265 1255 1239 1229 1219MRF EQ 36331 35812 35506 35293 34987 34774 34255MARUTI EQ 4024 3981 3957 3938 3914 3895 3852ONGC EQ 303 297 294 292 288 286 280ORIENTBANK EQ 194 189 187 185 182 180 175RCOM EQ 69 68 67 66 65 64 63RELCAPITAL EQ 383 376 372 369 366 363 356RELIANCE EQ 1017 1008 1002 999 993 990 981RELINFRA EQ 423 415 411 407 403 400 392RPOWER EQ 47 46 45 44 43 42 41SBIN EQ 277 273 271 269 267 265 261SSLT( VEDL) EQ 151 148 146 144 142 140 136SUNPHARMA EQ 950 933 923 915 906 898 880TATAMOTORS EQ 419 410 404 400 395 391 382TATAPOWER EQ 74 73 72 71 70 69 68TATASTEEL EQ 288 285 280 281 279 277 273UNIONBANK EQ 180 175 172 169 166 163 158

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION )

1. ONGC - ONGC IS IN DOWN TREND IF IT BREAKS 291.40 THEN IT MAY TEST NEXT WEEKLYSUPPORT LEVEL OF 287 AND 276 .

2. SAIL - SAIL CORRECTED THIS WEEK UPTO THE LEVEL OF 58.75 AND IT MAY COME TO THELEVEL OF 55.50 IF IT CONTINOUS ITS SOUTHWARD JOURNEY.

3. APOLOTYRE - APOLOTYRE IS IN UPTREND IT MAY CORRTCT TO THE LEVEL OF 172/170AND IT WILL BE A BUYING OPPORTUNITY WITH THE TARGET OF 180.

4. DLF - DLF IS SHOWING SIDEWAYS MOVEMENT IF IT BREAKES 115 LEVEL IT MAYCORRECR FURTHET UPTO 112/110 NEXT WEEK.

5. PNB - PNB CAN SHOW SIDEWAYS MOEMENT THIS WEEK BETWEEN THE RANGE OF 146AND 129 IT CAN GIVE SELL OPORTUNITY ON RISEES.

SR.NO

SCRIPT NAME PREVCLOSE

CMP % CHANG

1 CASTEX TECNOLOGY 248.05 345.85 +39.43

2 ESSAR OIL 143.95 189.90 +31.92

3 MAN INDUSTRIES 90.95 119.40 -31.28

4 TRF LTD 355.75 449.90 +26.47

5 D-LINK INDIA 198.70 244.50 +23.05

6 JET AIRWAYS 278.65 331.65 +19.02

7 JUBILANT INDUS 159.85 182.85 +14.39

8 CHENNAI PETRO 163.45 178.75 +9.36

9 UNION BANK OFINDIA

156.30 170.40 +9.02

10 EVEREADY INDUS 330.40 359.85 +8.91

11 HIND PETRO 738.55 804.25 +8.90

12 BATA INDIA 1065.75 1157.35 +8.59

13 SHASUN PHARMA 337.05 364.85 +8.25

14 ALSTOM T&D INDIA 546.55 490.15 +7.98

15 BALRAMPURT CHINI 41 44.20 +7.80

SR.NO SCRIPTNAME

PREVCLOSE

CMP % CHANG

1 VEDANTA 176 146.20 -16.93

2 TATA MOTORS LTD 444.50 401.90 -9.58

3 BAJAJ FINANCE 5498.20 5024.70 -8.61

4 TATA STEEL 306.95 280.90 -8.49

5 CAIRN INDIA 184.30 168.80 -8.41

6 GAIL INDIA 390.15 360.90 -7.50

7 HINDALCO INDIS 113.05 104.60 -7.47

8 JUST DIAL 1268.50 1180.85 -6.91

9 JSW STEEL 891.50 829.90 -6.91

10 JK CEMENT 664.75 619.10 -6.87

11 TEXMO INDUS 36.55 34.10 -6.70

12 YESD BANK 867.05 809.85 -6.60

13 ONGC 313.90 293.90 -6.37

14 NTPC 138.30 129.85 -6.11

15 EMAMI 1184.20 1112.90 -6.02

CURRENCY MARKET

USDINR R2 R1 PP S1 S2

DAILY 64.05 63.75 63.58 63.43 63.12

WEEKLY R2 R1 PP S1 S264.88 64.07 63.66 63.26 62.45

MONTHLY R2 R1 PP S1 S265.22 64.22 63.72 63.22 62.22

EURINR R2 R1 PP S1 S2

DAILY 73.55 71.80 70.95 70.10 68.35

WEEKLY R2 R1 PP S1 S275.35 72.25 70.75 69.20 66.15

MONTHLY R2 R1 PP S1 S2 75.40 72.20 70.60 69.00 65.85

JPYINR R2 R1 PP S1 S2

DAILY 53.11 52.41 52.06 51.71 51.01

WEEKLY R2 R1 PP S1 S254.73 53.01 52.15 51.29 49.57

MONTHLY R2 R1 PP S1 S255.15 53.10 52.05 51.05 49.10

GBPINR R2 R1 PP S1 S2

DAILY 101.70 99.55 98.50 97.40 95.25

WEEKLY R2 R1 PP S1 S2104.20 100.55 98.70 96.90 93.20

MONTHLY R2 R1 PP S1 S2 107.25 101.75 98.95 96.20 90.65

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

✍ Crude oil futures stabilize after sharp drop - Crude oil futures, which clocked to theirbiggest single-day declines in more than three months on Monday amid the Greek debt crisisand continued turmoil in China's battered stock markets have now stabilized.A convergence ofbearish triggers from the Greek economic crisis to the delicate state of nuclear talks with Iran toworries about slowing Chinese demand mainly led to this sharp plunge.Commodities were allhit after referendum in Greece finished with a "no" vote against accepting bailout conditionsfrom the country's so-called "troika" of lenders in return for unblocking aid. While Greece'slenders insisted that wouldn’t enter into further renegotiations, Prime Minister Alexis Tsiprassaid that a "no" vote will put the Greeks in a stronger position.Benchmark crude oil futures forAugust delivery slumped by 4.13.%, to settle at $52.53 a barrel after trading in a range of 52.41- $ 55.34 a barrel on the New York Mercantile Exchange. Presently, the same was tradinghigher by 0.71% at $52.90 a barrel.In London, Brent crude for August delivery fell by around4.89% to $ 56.54 a barrel on the ICE. Presently, the same was trading higher by 0.80% at$56.99/ barrel.

✍ Paint manufacturing companies rally on fall in crude oil prices -

Shares of Paint Manufacturing companies are trading in a positive zone with decline in crudeoil prices. Asian Paints, Kansai Nerolac Paints and Berger Paints India hitting one-month highs.Crude oil derivatives are key raw materials for manufacturing paints. Brent crude traded at$57.07 a barrel on Tuesday, following the fall in the previous session.Shalimar Paints jumped toa high of Rs. 134.50, and is now up 4.6 percent at Rs. 133. Kansai Nerolac zoomed to a high ofRs. 245, and is now up 4.5 percent at Rs. 242.50. Asian Paints and Berger Paints were tradingin a range of 4%.

✍ SKS Microfinance up on issuing Rs. 100 cr Cps -

SKS Microfinance is trading with a positive bias in trades so far. According to a release issuedby the company to the BSE, the company has issued Commercial Papers (CPs) of an aggregateamount of Rs. 100 crore, which has been rated 'A1+' by a leading rating agency. The stock sofar has touched a high of Rs. 518, and is now up a percent at Rs. 515. Around 71,000 shareshave changed hands at the counter so far on the BSE as against the two-week daily averagevolume of around 153,000 shares on the BSE.

✍ Essar Oil plans to delist from Indian bourses -

Essar Oil Ltd has received National Stock Exchange of India Ltd (NSE) consent to delist itsshares, according to reports.A report says that the company is expecting BSE permission thisweek.“We will make an announcement as and when we have something to share,” Essar Oilchief executive officer (CEO) Lalit Kumar Gupta reportedly said.

✍ GAIL to offer foreign shipbuilders five years for making LNG carriers -

GAIL India will offer foreign shipbuilders five years to make liquefied natural gas (LNG)carriers in India, says report.Report says that the company is insisting foreign shipbuilders to

build in India at least a third of the 11 LNG carriers. It also plans to charter carriers from one ormore shipping lines.Earlier in February, GAIL had floated a tender for the purpose in Februarybut scrapped following no response from foreign companies.

✍ Coal India may relinquish 75% of area of Mozambique blocks -

Coal India is reportedly planning to relinquish 75% of the area in the two coal blocks it hadacquired in Mozambique about six years ago. The move comes as local government's decisionto increase charges of holding the blocks. Coal India had won a five-year licence forexploration and development of A1 and A2 blocks in Mozambique's north-western province ofTete six years ago. In a board meeting it was decided that foreign subsidiary of Coal India, CoalIndia Africana Ltd, will about keep 54 sq km of the 205 sq km blocks that it had earlieracquired

✍ Delhi HC to hear case against JSPL on July 10-

Delhi High Court has said that it will hear the case of Jindal Steel and Power (JSPL) in the coalblock allocation case on July 10. The case pertains to the Gare Palma coal block, which waswon by JSPL in the coal block auctions, but was later cancelled by appointed to Coal India(CIL), as its custodian. The reason for the cancellation of these coal blocks was a suspectedcartelisation. The Gare Palma IV 2 & 3 coal has an extractable reserve of 155.49 million tonneof coal with an annual production of 6 mtpa, that would have met the entire fuel need of thecompany's 1000 MW Tamnar power project from the mines. 0.75 and a low of Rs. 581.35 onNSE today. Total traded quantity on the counter stood at over 41.92 lk shares on NSE.

✍ L&T Finance denies report on stake sale -

With reference to the news appeared in The Economic Times on July 07, 2015 titled "WarburgPincus in Talks to Buy up to 25% Stake in L&T Finance", L&T Finance Holdings Ltd hasclarified that at the outset, we have no comments to offer on the price movement mentioned byyou, as this is a function of the market.On the other information required by the letter, we wishto inform the Exchange that as a part of its ongoing investor relations exercise, the Companymeets various investors from time to time and at this point of time we have nothing to sharewith the Exchanges.The stock exchanges would be informed promptly as and when definitivedevelopments take place.

✍ Infosys to announce Q1 results on July 21, 2015 -

Infosys Limited, a global leader in consulting, technology, outsourcing and next-generationservices, will announce the results for its first quarter ended June 30, 2015 on Tuesday, July 21,2015 at 8:45 a.m. Indian Standard Time (IST) (11:15 p.m. US ET on July 20, 2015; 08:15 p.m.PST on July 20, 2015; 4:15 a.m. London time; 11:15 a.m. Singapore/Hong Kong time).

✍ Nestle India pays Ambuja Cements Rs. 20 crore to destroy Maggi packets -

Nestle India paid Rs. 20 crore to Ambuja Cements for destroying Maggi instant noodles,according to media reports.A report says that Ambuja Cements is believed to have been paidthe amount for burning the recalled packets of Maggi noodles at its cement plant in Chandrapur

in Maharashtra.Nestle India spokesperson said: "Gujarat Ambuja Cements is helping us todestroy the Maggi noodles being withdrawn by us from the market."Last month, Nestle Indiasaid it is in the process of destroying Maggi instant noodles worth Rs. 320 crore.

✍ Power Grid board approves investment worth Rs. 2,247.4 cr - Power Grid Corporationof India Ltd has informed BSE that the Board of Directors of the Company at its meeting heldon July 02, 2015 have accorded the investment approval for ‘Green Energy Corridors:Inter-State Transmission Scheme (ISTS) - Part - C’ at an estimated cost of Rs. 2,247.4 crore,with commissioning schedule of 36 months from the date of investment approval. The stock ofthe company closed down 1% at Rs. 139.95. It hit a high at Rs. 142 and low at Rs. 139.75 onBSE today.Total traded quantity on the counter stood at over 0.62 lk shares on BSE.

✍ Dena Bank hikes interest rates on FCNR (B) / RFC term deposit effective from July 1 -Dena Bank, India’s trusted family bank, has hiked its rate of interest downward on FCNR(B)/RFC term deposit with effective from July 1, 2015.For FCNR (B) deposits of 3 years toless than 4 years, in US Dollar terms, the revised interest rates are 3.31% as compared to 3.25%previous rates effective from July 1, 2015. For FCNR (B) deposits of 4 years to less than 5years, in US Dollar terms, the revised interest rates are 3.59% as compared to 3.49% previousrates effective from July 1, 2015. For FCNR (B) deposits of 5 years only, in US Dollar terms,the revised interest rates are 3.83% as compared to 3.70% previous rates effective from July 1,2015. For FCNR (B) deposits of 2 years to less than 3 years, in US Dollar terms, the revisedinterest rates are 2.90 % as compared to 2.87 % previous rates from July 1, 2015. For FCNR(B) deposits of 1 year to less than 2 years, in US Dollar terms, the revised interest rates are 2.51% as compared to 2.50% previous rates with effect from July 1, 2015

✍ NHPC signs pact with WB to develop 4 hydroelectric projects - NHPC Ltd has informedBSE that an agreement has been signed on July 03, 2015 for the development of fourHydroelectric Projects of total estimated capacity of 293 MW, in Teesta Basin, amongstGovernment of West Bengal, West Bengal State Electricity Distribution Company Ltd.(WBSEDCL) and NHPC Ltd. at Kolkata, West Bengal. These four projects are - Teesta LowDam-V, Teesta low dam I & II combined, Teesta Intermediate Stage and Rammam Stage-I, alllocated in District Darjeeling of West Bengal. These projects shall be developed on build, own,operate and maintain (BOOM) basis by NHPC Ltd.At 3:04 PM, the stock of the company istrading at Rs. 19.45. The stock is trading down 1% from its previous close which was at Rs.19.60. It hit a high at Rs. 19.45 and low at Rs. 19.20 on BSE today. Total traded quantity on thecounter stood at over 3.39 lk shares on BSE.

✍ Bajaj Electricals recovers on good sales - Bajaj Electricals witnessed a sharp rally in theearly noon deals on the BSE, after the firm reported good June sales. According to a releaseissued by the company to the BSE, Bajaj Electricals today reported 4.6 percent growth in Junetotal sales at Rs. 388 crore versus Rs. 371 crore (YoY). So far, the stock has rallied 3.7 percentfrom the day's low of Rs. 270 to a hit a high at Rs. 279. Now, the stock is up over 0.5 percent atRs. 278, and has seen trades of around 52,000 shares as against the daily average volume of65,000 shares in the past two weeks.

✍ Reliance Power refinances two thermal projects - Reliance Power has refinanced twothermal power projects - Butibori and Rosa - under the Reserve Bank of India's 5/25 scheme

with additional loans of about Rs. 3,500 crore, according to reports. A report says that the loanswere provided by State Bank of India (SBI), Axis Bank, Vijaya Bank and Bank of Maharashtra,said media reports. Banks had refinanced another ADAG group company, RelianceInfrastructure, for Mumbai metro rail project.

✍ Amtek Auto acquires Volvo Cars auto component plant in Sweden -Amtek Group hasacquired Volvo Cars’ auto component plant in Floby, Sweden, according to reports.Floby plantproduces brake discs, wheel hubs and connecting rods for passenger cars and commercialvehicles.The plant employs 441 people, all of whom will retain their positions under newownership, says report.

✍ Hexaware Technologies to delist GDRs from LSE - Hexaware Technologies Limited hasinformed the Exchange that the Company has announced to the London Stock Exchange (LSE)to delist its Global Depository Receipts (GDRs) from LSE which is subject to getting necessaryapprovals from the concerned agencies/ other regulatory authorities and other necessary filingsas may be required.

✍ RBI restricts Foreign Investors to Buy Petronet LNG shares - The Reserve Bank of Indiahas notified that the foreign shareholding through Foreign Institutional Investors(FIIs)/Registered Foreign Portfolios Investors (RFPIs) in M/s Petronet LNG Limited hasreached the trigger limit. Therefore, further purchases of equity shares of this company wouldbe allowed only after obtaining prior approval of the Reserve Bank of India.

✍ OMCs in demand on back of fall in US Crude Oil futures - Shares of oil marketingcompanies were in demand on the back of extended fall in the US Crude Oil futures. TheNYMEX Crude Oil prices have tanked over 15 percent since 23 June, 2015. BPCL, HPCL andIOC soared to respective fresh 52-week high in intra-day deals Rs. 952, Rs. 848 and Rs. 438.While, IOC managed to hold gains and finished 1.3 percent higher at Rs. 432, BPCL slippedover 2 percent at close, and HPCL was down 0.5 percent.

✍ Ratan Tata invests in Ampere - Ratan Tata has invested an undisclosed amount inAmpere, a Coimbatore-based electric vehicle start-up, according to the reports. A report saysthat Tata made the investment along with Ampere’s existing investor, Forum Synergies. Thestart-up will use the funds to scale up operations and hire talent over two years. Ampere is thefirst automobile start-up investment for Tata.

✍ Tata Group to sign 3 MOU with Tripura govt - A delegation of Tata executives led byChairman Emeritus Ratan Tata will sign three Memorandum of Understanding(MoU),according to reports. Chief Secretary Y P Singh reportedly said an MoU would besigned with the department of Industries and Commerce for providing highertechnologicalknow-how to two Industrial Training Institutes (ITI) in West Tripura district and

Dhalai district. The second MOU would be signed for setting up a dairy farm at Ambassa inDhalai district and another MoU would be signed for augmenting fish production in the state, YP Singh was quoted as saying.

✍ PVV Infra gets revised order from Andhra Govt -

PVV INFRA LTD has bagged a revised order for construction of prefabricated toilet blocks inGovernment Schools in Package 1 & 2 in Vizianagaram, Andhra Pradesh from HindustanPrefab Limited, a Govt. of India Enterprise.The revised order is an increase in the total quantityfrom 154 No’s to total of 232 No’s and an increase in the order value from Rs 3.46 Crores toRs. 5.22 crores.The previous order awarded to us was for the construction of 76 & 78 No’s ofprefabricated toilet blocks in Package 42 & 43 in Vizianagram District and VisakhapatnamDistrict, Andhra Pradesh was valued of Rs. 1.75 & Rs. 1.71 Crores respectively.The stock ofthe company closed up 5% at Rs. 17.22. It hit a high at Rs. 17.22 and low at Rs. 17. The totaltraded quantity was 1,601 odd-shares and two-week average quantity is 0.27 lakh.

✍ Aurobindo Pharma hits a high on USFDA nod for Flecainide Acetate - AurobindoPharma surged to a high of Rs. 1,481 on reports that the company has received US Food &Drug Administration (USFDA) approval for antiarrhythmic drug Flecainide Acetate.The stockended flat at Rs. 1,452. It has hit a high of Rs. 1481 and low of Rs. 1446.50.In Bse, the counterhas registered trade of around 0.79 lakh shares against two weeks average quantity of 1.02 lakhshares.

✍ Snowman Logistics gains on entering food segment - Snowman Logistics zoomed nearly5 percent to a high of Rs. 104 on the back of adding new revenue earning stream to itsbusiness.According to a release issued by the company to the BSE, company has entered into athree-year service agreement with international food services giant Compass (CGISS),signaling the start of a new vertical at Snowman. As per the agreement, Snowman will addressthe complete supply chain needs of the food service division of Compass India, the releaseadded.The stock is now up 3 percent at Rs. 102. The counter has seen trades of around 190,000shares as against the two-week daily average volume of around 182,000 shares on the BSE.

✍ Monnet Ispat skyrockets on plans to sell stake in power arm - Monnet Ispat & Energyhas skyrocketed to the 20 percent upper circuit at Rs. 42.75 on likely stake sale in the company.According to a release issued by the company to the, and company and JSW Energy haveentered into a non-binding agreement for initiating discussion to sell majority and controllingstake of its subsidiary, Monnet Power Company, which is engaged in the business ofdeveloping 1050 MW (2 x 525) Coal fired thermal power plant located at Malibrahmani, AngulOrissa. The stock is now locked at the 20 percent upper limit, and around 72,000 shares havebeen traded at the counter as against the two-week daily average volume of around 50,000shares on the BSE. There are pending buy orders for nearly 190,000 shares.

Top Economy news

According to a PTI report, the government has taken several measures, including setting up ofan inter-departmental committee to look into export-related issues and conducting awarenessprogrammes in emerging markets such as Africa, in an effort to boost pharmaceutical exports.

Global e-commerce sales via mobile devices are likely to hit $638bn by 2018, said a study byASSOCHAM-Deloitte.

The government will convert 90,000 kms of country's national highways into green corridors,for which it is planning to create at least 1,000 contractors responsible for planting trees.

To attract greater foreign capital inflows through Alternative Investment Funds thegovernment is considering changes to the foreign exchange regulations to make suchinvestments a seamless affair.

To capitalise the demand for value-added fish products, the Kerala Government plans to set upa fully mechanised manufacturing and processing facility to produce varieties of fish products.A detailed project report had been submitted to the National Fisheries Board. The new unit willincrease the production capacity from 5 tonnes to 15 tonnes. (BL)

Greeks voted overwhelmingly on Sunday to reject terms of a bailout, risking financial ruin in ashow of defiance that could splinter Europe.With nearly half of the votes counted, officialfigures showed 61 per cent of Greeks rejecting the bailout offer. An official interior ministryprojection confirmed the figure as close to the expected final tally

Finance minister Arun Jaitley on Sunday said the direct transfer of cooking gas subsidies intothe bank accounts of users will help the government cut its subsidy bill by around Rs 12,700crore, or around a quarter of the funds spent last year.

At a time when the government is pushing for 'Make in India', mineral production is estimatedto have significantly decreased in 2014-15 compared with 2013-14.

NITI Aayog vice-chairman Arvind Panagariya on Sunday categorically rejected all criticism ofthe upward revision of India’s GDP estimates for 2013-14 and 2012-13 by the Central StatisticsOffice

A UN report has projected steady decline in prices of foodgrains over the next decade,attributing the gradual price fall to increase in overall agricultural production anddiversification of dietary choices towards meat and dairy products.

The government will give immunity from prosecution under FEMA, Prevention of Money

Laundering Act and four other laws to persons declaring undisclosed foreign assets under thecompliance window of the new Black Money Act.The one-time 90-day compliance windowbeing provided to foreign asset holders to come clean will, however, not guarantee immunityfor wealth generated from corruption, according to FAQs on Black Money law issued by theFinance Ministry today.

The government of India is in talks with the World Bank and the Asian Development Bankseeking $2bn of funds. The funds would be used to provide cheaper loans for rooftop solarprojects.

The Supreme Court sought responses from the Centre, the Election Commission and sixpolitical parties, including Congress and BJP, on a plea to declare all national and regionalpolitical parties “public authorities” to bring them under the ambit of the Right to InformationAct.

India has overtaken the US to become the world's third largest steel producer and is workingtowards achieving 300 mn tonnes target in the next 10 years, Union Steel & Mines MinisterNarendra Tomar said.

The Prime Minister's Office has taken charge of reviving the investment cycle and unravellingbanks' chronic non-performing assets on account of investment plans worth lakhs of crores ofrupees that have got entangled in red tape over the past few years.

India will sign the tough financial information exchange law enacted by the US, which willalso give a boost to New Delhi's own attempts to unearth black money stashed away overseaswith information inflow beginning as early as October.

With required measures being taken to improve 'Ease of Doing Business' in the country, theCommerce and Industry Ministry is expecting a significant improvement in India's ranking thisyear.

The Modi government is examining if India’s foreign exchange reserves held by the ReserveBank can be deployed for funding infrastructure projects or recapitalising public sector banks.

The Reserve Bank is expected to grant payment bank licence to the postal department bySeptember for operating Post Bank, Communications and IT Minister Ravi Shankar Prasadsaid.

In a major clean-up exercise, the BSE has proposed delisting more than 1,000 companies from

its platform as trading in their shares have remained suspended for more than seven years forvarious penal reasons.

Ministry of Road, Transport and Highways is mulling to set up Highway EquipmentDevelopment Council to develop new technologies and equipment in construction sector so asto bring down the cost of construction and improving the quality of road infrastructure in thecountry.

Top Corporate News

Reliance Industries will offload 3.1% stake in media and entertainment firm Network18Media and Investments Ltd to bring down its shareholding to 75%.

Videocon Telecommunications has announced free mobile internet usage of up to 750 MB formobile users who do not use internet currently, as part of a Digital India initiative.

Mahindra Two Wheelers (MTWL), the motorcycle and scooter making company ofMahindra & Mahindra, has kickstarted its first major product-led overhaul in an attempt toreinvent itself in the fiercely competitive segment.

VA Tech WABAG Ltd along with their JV partner Belhasa Projects has won an EPC order inwater and waste water treatment space in the Kingdom of Baharain. The SewageTreatment Plant order for Al Madina Al Shamaliya, new town being developed in Bahrin, is fora value of around Rs 5.8bn.

Enthused with winning a defence project worth Rs 25bn, Sterlite Technologies is now vyingfor another strategic project in the sector worth Rs 70bn.

Yes Bank has partnered with cloud service and business mobility provider Citrix to empowerworkforce mobility and ensure faster rollout of new branches. The tie-up will provideemployees secure access to apps, desktops, data and services from any device, over anynetwork to empower mobile workers with the freedom and flexibility to choose how they work

The Centre has allowed state-owned NTPC and PTC India to charge dollar-linked tariffs fortheir new solar projects.

Biotechnology firm Transgene Biotek has received patent in the US for its novel molecule tobe developed for treatment of liver cancer.

Indian Oil Corp, the nation's largest fuel retailer, has awarded a contract to build two footballstadium-sized LNG storage tanks at its upcoming Ennore LNG import terminal in Tamil Naduto Mitsubishi Heavy Industries Ltd of Japan.

Micro-finance institution Bandhan Financial Services, which got the final license fromReserve Bank of India to start universal banking, would formally start operations as a bankerfrom August 23.

Fair trade regulator CCI is in an advanced stage of taking a final decision on cartelisationallegations made against five carriers, including market leaders IndiGo and Jet Airways, with

respect to introduction of fuel surcharge for cargo transportation.

Shoppers Stop has tied up with Hybris software, a SAP company and a commerce platformprovider. The retailer plans to invest Rs. 600mn over the next three years in technology, supplychain and talent to strengthen its omni-channel play.

Larsen & Toubro Heavy Engineering has delivered its first indigenously designedpressurised heavy water reactor for the nuclear plant being developed by Nuclear PowerCorporation in Gujarat.

Realty player Mahindra Lifespaces, part of Mahindra Group, is looking at setting upresidential projects in states like Andhra Pradesh, Rajasthan, Madhya Pradesh under theaffordable housing space.

Riding on the booming e-commerce space and increasing adoption of non-cash transactions,the combined share of SBI and its five associate banks in the debit cards space has touched25% in the financial year 2015

The Unit-I (2x250 MW) of Neyveli Lignite Thermal Power Station-II Expansion hascompleted its continuous operation for 72 hours starting from June 30 to July 03 and qualifiedfor Commercial Operation

Indian Oil Corp-Adani Gas combine has bid for a license to retail CNG in five citiesincluding Haridwar in the fifth round of city gas bidding that saw no bids for as many as eightcities.

NMDC Ltd will set up a Greenfield 3 mn tonne per annum steel mill in Karnataka jointly withKarnataka government at an estimated investment of Rs 180 bn.

Eicher Motors-owned Royal Enfield has hopped on the e-commerce bandwagon with thecommercial launch of the limited edition Classic 500. Priced at Rs 224k, 400 war-inspiredcamouflage Classic 500 bikes will be opened for online bookings on July 15.

Infosys said it has won a multi-year outsourcing contract from Deutsche Bank. Infosys did notdisclose the deal value or the tenure of the engagement. Yes Bank said that it has raised Rs 5.54bn through a tier-II bond issue. The 10-year bonds wereraised at a coupon of 9.15% and saw subscription from investors including insurance firms andpension and provident funds.

Wipro said it will acquire global strategic design firm Designit for EUR 85mn, a move aimedat strengthening the digital services business of the country’s third largest software servicescompany.

IL&FS Engineering and Construction Company has commissioned a project of gastransmission pipeline in Gujarat. The project includes laying 103 kms high pressure gastransmission pipeline on an EPC basis for Gujarat State Petronet Limited .

The Reserve Bank has authorised Yes Bank Ltd to undertake Primary Dealership businessdepartmentally with effect from July 13, 2015. Yes Bank had earlier requested Reserve Bank ofIndia to grant it Primary Dealership authorisation.

Bharti Airtel will roll out 4G services in North East, excluding Assam, within next 2-3 months,the company said.

The shareholders of Andhra Bank had approved a proposal for QIP or FPO at its AnnualGeneral Meeting.

Russia’s top oil producer Rosneft plans to buy 49% stake in Essar Oil for about $3.2 bn.

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