Morning Notes 12-Jan-2016 Indices 11-Jan 8-Jan % Chg. Major Indices 11-Jan 8-Jan % Chg. FII's & DII's in equity Rs.Crs S&P BSE SENSEX 24,825 24,934-0.44% CAC 40 Index 4,313 4,334-0.49% 11-Jan Buy Sell Net S&P CNX NIFTY 7,564 7,601-0.49% DAX Index 9,825 9,849-0.25% FII / FPI Investments 3158 4477-1319 NIFTY MIDCAP 100 13,184 13,289-0.79% Dow Jones Industrial A 16,399 16,346 0.32% DII's Investments 1848 947 901 NIFTY SMALL 100 5,511 5,533-0.40% FTSE 100 Index 5,872 5,912-0.69% FII's contribution to the total turnover 40% Nasdaq Composite Ind 4,638 4,644-0.12% DII's contribution to the total turnover 15% BSE Sectoral Indices NIFTY ENERGY 8,657 8,586 0.82% Major Asian Indices 11-Jan 8-Jan % Chg. FII's in Derivatives Rs.Crs NIFTY REALTY 170 169 0.24% Hong Kong 19,889 20,454-2.76% 11-Jan Index Fut Index Opt Stock Fut Stock Opt NIFTY AUTO 7,752 7,744 0.10% Nikkei 225 17,698 17,698 0.00% Net -319 1624-613 -31 NIFTY FMCG 19,330 19,359-0.15% Korea 1,895 1,918-1.19% OI 15382 67526 50362 2945 NIFTY METAL 1,746 1,751-0.27% Shanghai 3,017 3,186-5.33% Chg.OI 1.2% 6.0% 0.8% 6.4% NIFTY INFRA 2,617 2,632-0.57% Taiwan 7,788 7,894-1.34% FIIs' contribution to the total Derivatives turnover 30% NIFTY MEDIA 2,512 2,528-0.60% NIFTY CONSUMPTIO 3,419 3,441-0.65% Commodities (MCX) 11-Jan 8-Jan % Chg. Curr. Derivatives (NSE) 11-Jan 8-Jan % Chg. NIFTY BANK 16,016 16,143-0.78% Aluminium (29JAN2016 98 100-1.80% USDINR 27-JAN-2016 66.97 66.83 0.21% NIFTY FIN SERVICE 6,665 6,723-0.87% Copper(29FEB2016) 294 301-2.52% EURINR 27-JAN-2016 73.03 72.70 0.46% NIFTY IT 10,824 10,990-1.51% Crude (19JAN2016) 2,089 2,244-6.91% JPYINR 27-JAN-2016 56.89 56.45 0.78% NIFTY PHARMA 11,301 11,487-1.62% Gold (05FEB2016) 25,870 25,982-0.43% DJIA (15-01-2016) 16413 16700-1.72% NIFTY PSU BANK 2,591 2,646-2.06% Silver (4MAR2016) 33,664 33,824-0.47% S&P500 (15-01-2016) 1930 1964-1.74% Top Gainers Top Gainers Top Gainers Top Gainers BSE Smallcap BSE Midcap BSE 100 CNX Nifty Company LTP Chg % Chg Company LTP Chg % Chg VEDL 85 4 4.9 WIPRO 537-19 -3.5 Top Losers RELIANCE 1054 28 2.8 ADANIPORTS 233.5-8 -3.3 TATAMOTORS 360 7 2.0 M&M 1159-39 -3.2 GRASIM 3642 66 1.9 TECHM 506.9-15 -2.9 MARUTI 4292 77 1.8 DRREDDY 2929-82 -2.7 Company LTP Chg % Chg Company LTP Chg % Chg HDIL 81 4 5.3 UNIONBANK 131-7 -4.7 Top Losers VEDL 85 4 4.9 ABB 1007-47 -4.5 GRASIM 3700 128 3.6 ABIRLANUVO 2246-94 -4.0 TATAMTRDVR 271 7 2.8 M&M 1156-41 -3.4 RELIANCE 1052 28 2.7 WIPRO 538-18 -3.3 Company LTP Chg % Chg Company LTP Chg % Chg NATIONALUM 39 2 5.5 UNIONBANK 131-7 -4.7 Top Losers INDHOTEL 123 4 3.2 ABB 1007-47 -4.5 RPOWER 60 2 2.6 GSKCONS 6250-270 -4.2 BEL 1328 30 2.3 ABIRLANUVO 2246-94 -4.0 MRPL 68 1 2.0 CRISIL 1904-77 -3.9 Company LTP Chg % Chg Company LTP Chg % Chg NITINSPIN 84 10 12.9 ESSDEE 151-14 -8.6 Top Losers GLOBOFFS 348 30 9.5 NYSSACORP 75-7 -8.1 SREINFRA 68 5 8.3 SINTEX 94-7 -6.9 VMART 592 45 8.2 SQSBFSI 1199-85 -6.6 RPPINFRA 115 8 7.8 FRLDVR 113-8 -6.4 CNX Nifty BSE 100 BSE Midcap BSE Smallcap Domestic Market View Markets to make a positive start ahead of IIP and inflation data The Indian markets suffered another setback in last session and hit 19 months low on the back of continued worries about Chinese equities. Today, the start is likely to be cautious but in green and some recovery can be expected on supportive regional cues. Traders will be eyeing the industrial production and inflation data to be released later in the day after market hours. While the IIP is likely to be lower as indicated by Core sector data, the consumer inflation probably edged up for the fifth straight month in December, driven by higher food prices. Meanwhile, rating agency Moody s has said that India s market outlook for this year will be dependent on consumption demands, corporate earnings and inflation trends. The agency though expects the country to be the world s fastest growing major economy this year, it believes that the market trends will depend on whether inflation remains under control and corporate profits revive. The auto sector stocks will continue buzzing, as passenger vehicle sales in December grew in double digits for the third month in a row, posting the highest ever volumes in December ever. Industry body SIAM data though has shown that two-wheeler sales were disappointing, dragged down by motorcycle sales into negative territory. Stocks related to defence procurement too may be in action, as a new Defence Procurement Procedure (DPP) emphasising on higher indigenisation has been approved by the Defence Acquisition Council led by Defence Minister Manohar Parrikar.
Domestic Market Overview Weak global cues rattle markets again; Sensex ends below 24850 level It turned out to be a lackadaisical performance from the benchmark indices on Monday as they failed to snap the session in the green territory and settled below the neutral line as investors at large remained reluctant to build on long positions ahead of official start of the third quarter earnings season with TCS result and also monthly industrial production data. Sentiments remained subdued with a private report stating that consumer sentiments in India fell for the fourth consecutive month in December to the lowest on record, as consumers reported a further deterioration in their personal finances amid rising inflation. Trading sentiments were weakened further with Commerce and Industry Minister Nirmala Sitharaman s statement that the devaluation of the Chinese currency is a 'worrying' development which will make Indian exports expensive and widen the trade deficit with the neighbouring nation. Besides, depreciation in Indian rupee against the dollar also negatively impacted the sentiment. However, investors got some strength with World Bank report stating that India will continue to be the bright spot of the global economy and is projected to grow at a robust 7.8 percent in fiscal 2016-17, more than a percentage point higher than China s. The benchmarks got off to a weak start as the indices breached the psychological 7,550 and 24,700 levels in the early moments of trade since investors largely remained influenced by the pessimistic sentiments prevailing in Asian markets. After the subdued opening, the key gauges plunged to lowest point in the day on sharp across the board sell-off. Thereafter started the road to recovery for the bourses which kept slowly but steadily moving towards the neutral line. The frontline indices even managed to break into the positive terrain in afternoon trades but only for a brief period, tracking the leads from European counterparts. But some final hour profit booking followed by mild short covering ensured that the bourses snap the session with moderate cuts Global Market Overview Asian markets end in red on Monday Asian equity markets ended in deep red on Monday after more weak data reignited concerns about China's economy following a global stocks rout at the start of the year. Chinese shares ended down at their lowest since September, following data released over the weekend showed producer prices fell for a record 46th month and inflation remained muted at about half the government's target for 2015 in December, stirring concerns over a slowing economy. China guided its yuan currency stronger for a second straight session, adding to market confusion over what the central bank is trying to achieve. Seoul shares fell sharply on foreign fund selling after oil prices came under fresh selling pressure and Samsung Electronics indicated it may be due for another profit drop in 2016. The Japanese market was closed in observance of Coming of Age Day. US markets close mostly higher on Monday The US markets closed mostly higher on Monday, after dipping in and out of negative territory as a deepening rout in oil prices hit the energy sector on the heels of the worst weekly start ever to a new year. The S&P 500 and Dow Jones Industrial Average snapped a three-day losing streak, bouncing after posting the largest declines for the first five days of a new calendar year in history. Dallas Fed President Robert Kaplan stated that the US energy sector will see more bankruptcies, mergers and restructurings this year given the outlook for continued low oil prices. The overall tone in the oil and gas sector has soured, as expectations have decidedly shifted to an even lower for even longer price outlook in the wake of the December OPEC meeting. Kaplan added that given the various crosscurrents, the ultimate timing of reaching market production/consumption balance remains uncertain. Kaplan is not a voting member of the Fed policy committee this year. He enlightened that he was in favor of the December interest-rate increase, the first since 2006.
Index Futures (OI in '000 Shares) Future Chg Spot Chg Prem / Total Open Interest 11-Jan (%) 11-Jan (%) Disc 11-Jan Chg (%) NIFTY 7,584-0.28 7,564-0.49 19.9 23,162 2.1 CNXIT 10,827-1.42 10,824-1.51 3.5 18 10.9 BANKNIFTY 16,036-1.02 16,016-0.78 19.6 2,625 3.9 Increasing OI, Increasing Delivery Qty & Increasing Price in Stock Futures (Open Interest in '000 Shares) Symbol Total OI Del Qty Cash Market Prev Increase Spot Fut Spot Fut Prem / 11-Jan % Chg. 11-Jan % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc MINDTREE 400 12% 163,374 43% 44% 17,346 1475 1470 4.6% 4.2% -4.7 VEDL 72,844 11% 4,554,938 16% 20% 1,706,741 85 85 4.4% 5.1% 0.3 RPOWER 63,228 9% 4,888,784 21% 19% 1,401,241 60 60 2.7% 2.5% 0.3 HINDUNILVR 3,664 6% 1,073,438 67% 62% 223,488 812 815 0.2% 0.2% 3.5 KOTAKBANK 9,069 5% 220,535 36% 41% 7,022 701 700 0.8% 0.7% -0.9 TVSMOTOR 6,476 4% 444,044 40% 37% 100,524 286 287 0.2% 0.8% 1.1 TV18BRDCST 67,235 4% 2,756,567 26% 20% 1,284,362 47 47 3.1% 3.0% 0.3 ULTRACEMCO 1,148 4% 271,695 32% 38% 10,587 2727 2722 0.8% 0.8% -4.5 IGL 2,102 3% 618,845 23% 30% 370,508 592 589 3.8% 3.8% -2.9 CADILAHC 10,293 3% 1,131,389 27% 45% 267,007 315 316 1.3% 1.9% 1.3 Increasing OI, Increasing Delivery Qty & Decreasing Price, (Open Interest in '000 Shares) Symbol Total OI Del Qty Cash Market Prev Increase in Spot Fut Spot Fut Prem / 11-Jan % Chg. 11-Jan % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc WIPRO 7,292 11% 1,432,213 52% 49% 642,109 537 534-3.2% -3.1% -3.6 IRB 6,962 10% 683,258 28% 19% 213,337 239 240-2.7% -2.4% 1.0 ABIRLANUVO 1,046 9% 251,610 20% 40% 45,316 2247 2254-4.3% -4.1% 6.9 TCS 3,881 7% 996,992 38% 34% 294,226 2362 2357-1.6% -1.5% -4.9 ORIENTBANK 11,550 7% 1,117,990 34% 28% 617,038 123 123-3.7% -3.1% 0.6 JSWENERGY 13,140 6% 655,433 26% 23% 190,632 83 83-0.2% 0.1% 0.4 DRREDDY 2,361 5% 246,177 52% 55% 33,302 2932 2941-2.8% -2.3% 9.3 TATAPOWER 23,656 5% 1,949,833 28% 26% 262,009 67 68-1.8% -1.9% 0.4 TECHM 8,270 5% 1,304,806 71% 59% 442,540 507 509-3.2% -2.7% 1.3 BPCL 5,426 4% 384,481 40% 31% 117,302 888 892-2.0% -1.7% 3.9 Open Interest Break-up (Rs. in Cr.) 11-Jan 08-Jan Change in OI % Chg INDEX FUTURES 21,938 21,444 495 2.31 INDEX OPTIONS 128,121 121,453 6,669 5.49 TOTAL INDEX 150,060 142,896 7,163 5.01 STOCK FUTURES 64,783 63,880 903 1.41 STOCK OPTIONS 17,029 16,006 1,023 6.39 TOTAL STOCKS 81,813 79,886 1,927 2.41 GRAND TOTAL 231,872 222,782 9,090 4.08 FII's 136,214 131,627 4587 3.49 Others 95,658 91,155 4503 4.94
Corporate News Ramco Systems has bagged prestigious honor and recognition from the CIO Choice Awards 2016 for its innovative HR and Global Payroll software. Earlier, the company has received six prestigious awards for Best HR Management Software, Talent Management Software and Payroll Software at the HR Vendors of the Year 2015 in Singapore, Malaysia and Hong Kong, and the ISG Paragon Awards for Innovation in Australia. Ortel Communications (Ortel), one of the leading cable television and high speed broadband services provider, has introduced Wi-Fi Public Hotspot services for its Broadband subscribers. The Wi-Fi Hot Spot service has been launched as a special value added service. Ortel is offering the Wi-Fi Hot Spot services in busiest locations of Bhubaneswar where people go for shopping and leisure. Ortel Broadband customers can avail these services On the Go through their Smartphones, Tablet PCs and Laptops. No additional hardware like modem or dongle are required to be connected to the active devices, neither does it require any additional software installation. Excel Castronics has received an export order of Rs 40 crore of Castrol oil, raw cashew nuts and green cardamom, which will be completed by last quarter of FY15-16. The company is expecting to touch turnover of around Rs. 70 crore in current fiscal. Further, the company has commenced trading in cashews nuts and cardamom to establish market links for supply and distribution channels of wholesale and retail market. Tata Steel has reported 10.3% rise in sales to 2.35 million tonne (mt) in the third quarter ended December 31, 2015 as compared to 2.13 mt sold in previous corresponding period. During April to December period of current fiscal, the company has sold 6.82 mt of saleable steel, which was 7.57% higher compared to 6.34 mt sold in the same period last year. Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Norethindrone Acetate Tablets USP, 5mg. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Aygestin Tablets, 5 mg, of Duramed Pharmaceuticals. Bharat Heavy Electricals (BHEL) has achieved one more significant milestone in the capacity addition programme of the country by successfully commissioning a 520 MW coal-based thermal generating unit in Andhra Pradesh. The unit has been commissioned at the 2x520 MW Vizag Thermal Power Project of Hinduja National Power Company (HNPCL), Visakhapatnam. Significantly, in Visakhapatnam district, four 500 MW thermal sets supplied and executed by BHEL are already in successful operation at Simhadri Super Thermal Power Station of NTPC. Cadila Healthcare s state-of-the-art manufacturing plant at Baddi, Himachal Pradesh, has successfully obtained the Establishment Inspection Report from the USFDA. This will now pave the way for further approval of products from this site. Cawasji Behramji Catering Services has established its foothold in Quick Service Restaurant (QSR) and has opened a new restaurant at one of the most happening Sea face Promenades of Mumbai in QSR format -- ME SO HAPPI, at Shop No. 1 & 2, Near Oceanic Building, Carter Road, Bandra (West), Mumbai. With this, the company has 2 restaurants under its flagship brand ME SO HAPPI. Persistent Systems U.S. subsidiary has signed an agreement with Citrix Systems International GMBH, a Swiss subsidiary of Citrix Systems, Inc., to acquire the Citrix CloudPlatform and CloudPortal Business Manager product lines in an asset purchase transaction. These products will add to the portfolio of products of Accelerite, the products business of Persistent Systems.The closing of the transaction is subject to customary closing conditions and is expected to close in Persistent's fourth quarter ending March 31, 2016. Suzlon Group, one of the leading wind turbine manufacturers, has signed a binding term sheet and received advance payment for execution of 197.40MW with one of the leading renewable energy IPPs. Once the due diligence is completed and construction contracts are inked, Suzlon will supply, install and commission 47 wind turbines of 597-120 m hybrid tower and 47 units of 5111-90 m tubular tower wind turbine with rated capacity of 2.1 MW each. The project will be located at Anantapur district of Andhra
Pradesh (AP). Suzlon will offer operation and maintenance services for 12 years through an integrated service package. The project is scheduled to be commissioned by February 2017. Bharat Forge, a leading global commercial forging company, is reportedly planning to set up an integrated auto components hub in Nellore in Andhra Pradesh with an investment of about Rs 1,200 crore. The project will employ 3,000 odd people directly and almost similar amount indirectly. Furthermore, the company is also planning to build a multi-modal manufacturing facility for industrial components, defence and aerospace components including a supply chain and this will be located in Anantapur district. Federal Bank has introduced a funds transfer facility for its customers by the use of a missed call to the bank s dedicated number. The Funds Transfer through Missed Call is a simple, convenient and faster way to transfer funds. The facility allows the bank s account-holders to register for the service and beneficiaries that can be even other bank account-holders to initiate the fund transfer transaction, all just through a missed call. Gujarat Industries Power Company (GIPCL) has issued Letter of intent (LoI) to Inox Wind, Noida in state of Uttar Pradesh, for installation of 26 MW Wind Energy Farm Project at Rojmal Site, Amreli, Gujarat, on EPC basis, with Operation & Maintenance Contract for twenty years. The said Wind Energy Farm Project is scheduled to be completed by December, 2016. The Office of the Commissioner for Transport and Road Safety, Transport Department, Government of Karnataka has finalized a project to automate the process of conducting driving tests and the issuance of licenses at select RTO centers across the state through a contract signed with Cerebra Integrated Technologies. The Automated Driving Test System (ADTS) is an endeavor by Karnataka Transport Department to standardize and automate the procedure of evaluating the driving skill of a person before granting him a license. Tata Motors subsidiary Jaguar Land Rover (JLR) has achieved its best ever full year global sales performance in 2015, retailing 487,065 vehicles, up 5 percent on the prior year. This is the company s sixth successive year of growth in sales, with retails in 2015 more than double the 2009 figure. Camex has entered into a sole selling arrangement with Tianjin Yadong Longxin International in Republic of China for Indian market for the range of basic intermediates like H.Acid, Tobias Acid, Sulfo Tobias Acid and J.Acid.The association would help Camex to exploit its present marketing network along with Tianjin Yadong Longxin International, expertise to sell products in Indian market. The said association will help Camex to improve revenues and profitability in coming years. Ricoh Company has reached an agreement to buy AnaJet, the leader in direct to garment (DTG) printing. This acquisition is the latest strategic investment by Ricoh to strengthen its industrial inkjet business while enabling its customers to move forward new ideas and drive imaginative thinking. Located in the US, AnaJet will become a wholly owned subsidiary of Ricoh Printing Systems America, Inc. Mahindra & Mahindra s (M&M) arm - Mahindra emarket has entered into strategic partnership with Vakrangee for promoting and booking automobile products through Vakrangee Kendras. Citizens, especially in un-served and underserved areas shall now be able to visit nearest Vakrangee Kendra and book automobile products available on Mahindra emarket Place by paying the booking amount at Vakrangee Kendra. IFCI has reduced its Benchmark Rate IFCI Benchmark Rate (IBR) from 12.00 percent per annum to 11.70 percent per annum with monthly rests. This new IBR shall be applicable from January 18, 2016. Electrosteel Steels has received its shareholders approval for takeover of the company by lenders under a strategic debt restructuring (SDR). Accordingly, the company s Rs 2,507 crore debt will be converted into 51 per cent equity. Ashoka Buildcon has increased its stake in Jaora-Nayagaon Toll Road Co to 48% from 23% held as on October31. The company s road development subsidiary Ashoka Concessions owned 23% stake in Jaora-Nayagaon Toll Road Co and had acquired a further 14.74% stake in the project, taking its total stake to 37.74%.
Dhunseri Tea & Industries has decided to launch Lal Ghora Atta and Lal Ghora Salt, on a trial basis, initially in the state of Rajasthan.Dhunseri Tea & Industries was engaged in tea production and then it branched out into the other segments. Lanco Infratech s subsidiary - Lanco Kondapalli Power has successfully declared Commercial Operations Date (COD) for its expansion capacity of 371 MW (Phase III B Project) with effect from January 09, 2016. In a bid to expand operations and capacity, Hindustan Zinc (HZL) is planning invest Rs 8,000 crore in the next 3-5 years. The firm is targeting to take the existing ore production levels of 9.36 million tonnes per annum (MTPA) to 14 MTPA and finished metal production to 1.10 MTPA from 0.85 MTPA. Sterlite Grid, subsidiary of Sterlite Technologies has received Letter of Intent (LoI) to commission power evacuation infrastructure in Odisha for local power projects. Sterlite Grid emerged as the lowest bidder for the power transmission project in Odisha with a levelized annual tariff of Rs 139.79 crore..economy CAIT asks govt to free MUDRA from RBI control Confederation of All India Traders (CAIT) has urged the government to remove Micro Units Development and Refinance Agency (MUDRA) from RBI's purview and said Central Bank has failed to deliver requisite finances to small business in the country. CAIT has urged the Finance Minister Arun Jaitley to free MUDRA from the clutches of RBI by passing legislation in Parliament and to make MUDRA as an independent regulator to lend finance to existing financial style ecosystem catering to the needs of noncorporate sector. CAIT said that the Mudra loans are being disbursed by commercial banks instead of other financial institutions as originally conceived by the government while launching MUDRA. It also added that the colonial mindset of the banks and stringent conditions is debarring the actual beneficiary in obtaining MUDRA loans. Further CAIT said that such a step will be in accordance with the resolution of the Union Cabinet and 'funding for unfunded' declaration of Prime Minister Narendra Modi. MUDRA was formed by the government to provide easy loans to small businesses. CBDT to review new taxpayer measures, tax collection In order to review the on-ground implementation of some of the recent initiatives announced by the government for a taxpayerfriendly regime and to widen the base of taxpaying people, the Central Board of Direct Taxes (CBDT) will hold a high-level meeting with top income-tax department officials on January 13. The meeting will be chaired by the Chairman AK Jain of CBDT and will be attended by other members of the board who will interact with all the regional IT department heads via video conferencing. The inputs received by the CBDT after the meeting, will be used in preparation of the Union Budget. According to the agenda proposed for the meeting, the top policy-making body of the Income Tax department will review the current status of revenue collection under the direct taxes category, prompt issuance of refunds up to Rs. 50,000 in non-scrutiny cases and progress on the new project of holding scrutiny of cases through email and internet-based communication. Besides, the meeting will assess the progress made by IT department in adding new assesses under the initiative to add one crore new taxpayers this fiscal. Furthermore, the other subjects for review include the monitoring of pending legal cases and their effective disposal, implementation of recent orders for hike in monetary limits for appeal in the Income Tax Appellate Tribunal (ITAT) and High Courts, quick disposal of taxpayer grievances and status of scrutiny cases being worked out in the department. Post Bank may handle DBT schemes The entire direct benefit transfer (DBT) scheme for distribution of government subsidy is likely to be handled by the Post Bank - the new payments bank which will be under the Department of Posts (DoP). Public Investment Board (PIB) will consider this proposal
in its meeting on January 15 and then send its recommendation to Cabinet Committee on Economic Affairs for final approval. The postal department expects to finalise consultant for setting up of payment banks by end of this month. As many as 40 international financial conglomerates, including World Bank and Barclays, have shown interest to partner with Postal Department for the payments bank. The DoP has shortlisted six consultants including McKinsey, KPMG, Ernst and Young and PricewaterhouseCoopers. The Reserve Bank of India (RBI) has granted Payments Bank permit to the postal department, which has 1.55 lakh branches across country which already provides financial services. Earlier initial capital approval sought for setting up Post Bank was about Rs 300 crore which has been increased to Rs 800 crore as there is proposal now that entire DBT scheme should be handled by it as well as saving accounts currently handled by DoP should also be moved under it. At the end March 2015, the DoP housed around 20 lakh saving accounts which held total deposit of about Rs 47,800 crore. The payment bank wing of DoP is also proposed to manage these accounts. According to guidelines of RBI, payments banks will offer a limited range of products such as demand deposits and remittances. They will be allowed to issue ATM or debit cards as also other prepaid payment instruments, but not credit cards. However, they will not be allowed to undertake lending activities and will initially be restricted to holding a maximum balance of Rs 1 lakh per individual customer. Govt to continue reform process with single-minded focus: Jaitley In order to increase investment and growth, Finance Minister Arun Jaitley has said that the government will continue the reforms, with 'single-minded focus', which it failed to pursue in the recent months. He further said that India cannot afford a change in direction and in these circumstances every state has to contribute. With a view to attract investors, Jaitley also called upon states to improve ease of doing business stating they are 'smart people' and look for 'stability of policy (and) business friendly ecosystem.' Among major reforms, the government has not been able to push the Goods and Services Tax ( GST) bill, which got stuck in Rajya Sabha because of stiff opposition from the Congress. While talking about the need to accelerate reforms at all levels in order to push growth, Jaitley said that world was going through an extremely difficult and challenging time and difficulties have spilled over into Indian system also. Talking about the World Bank lowering global growth forecast to 2.9 per cent, Jaitley said that growth rates of economies across the world are hovering around extremely low figures and because of the integrated economy, what happens in China, what happens in oil prices, impact India s markets. He also said that the country s revenue gets impacted when the price regimes are low because nominal GDP gets reduced. Source: Reuters, Ace Equity & LKP Research
Tech View CNX Nifty Technical View NA IMPORTANT LEVELS FOR THE DAY Support BSE NSE BANKNIFTY S1 24,571 7486 15809 S2 24,294 7401 15568 Resistance R1 25,020 7623 16200 R2 25,297 7707 16442 Pivot 24,795 7,554 16,005
Tech View PIVOT POINTS Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 ACC 1298 1333 1310 1291 1272 1248 GAIL 369 382 375 370 365 358 ADANIENT 82 89 85 82 79 75 GLENMARK 842 881 862 847 832 814 ADANIPORTS 234 244 239 235 231 227 GMRINFRA 15 16 15 15 15 14 ADANIPOWER 33 36 34 33 32 31 GODREJIND 379 394 386 380 374 367 ALBK 64 67 65 64 62 60 GRASIM 3622 3753 3668 3599 3529 3444 AMBUJACEM 198 203 200 197 194 191 HAVELLS 296 308 302 297 292 285 ANDHRABANK 61 63 62 60 59 58 HCLTECH 815 850 833 820 806 789 APOLLOHOSP 1361 1450 1408 1375 1342 1300 HDFC 1162 1190 1174 1161 1148 1132 APOLLOTYRE 148 156 152 149 146 142 HDFCBANK 1059 1077 1065 1055 1045 1033 ARVIND 342 360 350 342 335 325 HDIL 81 91 85 79 74 67 ASHOKLEY 92 95 93 92 90 88 HEROMOTOCO 2505 2597 2540 2494 2447 2390 ASIANPAINT 874 904 887 873 859 842 HEXAWARE 237 250 242 236 230 223 AUROPHARMA 833 864 848 835 822 806 HINDALCO 78 83 80 77 74 71 AXISBANK 417 438 426 416 406 394 HINDPETRO 877 905 891 880 868 854 BAJAJ-AUTO 2361 2414 2381 2354 2328 2295 HINDUNILVR 812 836 822 811 800 786 BANKBARODA 139 146 141 138 134 130 HINDZINC 140 145 142 139 137 133 BANKINDIA 108 112 110 108 106 104 IBREALEST 60 65 62 59 56 53 BATAINDIA 487 508 495 485 474 461 ICICIBANK 239 249 244 240 237 232 BHARATFORG 827 864 844 829 813 793 IDBI 77 81 78 76 75 72 BHARTIARTL 321 333 326 320 314 307 IDEA 130 135 133 131 128 126 BHEL 149 155 152 150 147 144 IDFC 46 48 47 46 45 44 BIOCON 523 548 533 521 509 494 IFCI 27 29 28 27 27 26 BPCL 888 916 903 892 881 868 IGL 592 654 617 586 555 518 CAIRN 130 141 134 129 124 118 INDIACEM 100 108 103 99 95 90 CANBK 215 226 221 216 212 207 INDUSINDBK 937 955 944 936 927 916 CENTURYTEX 572 598 582 568 554 538 INFY 1056 1084 1070 1059 1048 1035 CESC 490 504 497 491 485 477 IOB 30 31 30 29 29 28 CIPLA 610 629 619 611 602 592 IOC 443 458 450 443 437 429 COALINDIA 316 326 320 315 310 304 IRB 239 249 244 240 236 232 COLPAL 907 941 924 910 897 880 ITC 316 324 319 314 310 304 CROMPGREAV 192 200 195 190 186 180 JINDALSTEL 84 89 86 83 81 78 DABUR 263 272 268 264 260 256 JISLJALEQS 72 75 74 72 71 69 DISHTV 96 100 98 97 95 94 JPASSOCIAT 11 12 11 11 11 10 DIVISLAB 1100 1154 1128 1107 1086 1061 JPPOWER 7 8 7 7 7 7 DLF 112 119 115 111 107 103 JSWENERGY 83 94 87 81 75 68 DRREDDY 2932 3048 2994 2949 2905 2850 JSWSTEEL 1020 1054 1035 1020 1005 986 EXIDEIND 140 143 141 140 138 137 JUBLFOOD 1353 1424 1380 1345 1309 1265 FEDERALBNK 52 55 53 52 51 50 JUSTDIAL 832 859 845 833 821 807
Tech View Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 KOTAKBANK 701 728 710 696 681 663 TATACHEM 393 408 401 395 390 383 KTKBANK 113 118 115 113 111 108 TATACOMM 433 450 442 434 427 418 L&TFH 64 65 65 64 63 62 TATAGLOBAL 142 146 144 142 140 138 LICHSGFIN 500 514 506 500 494 486 TATAMOTORS 360 387 370 356 341 324 LT 1173 1223 1192 1168 1143 1113 TATAMTRDVR 272 290 278 268 258 246 LUPIN 1701 1736 1717 1702 1687 1668 TATAPOWER 67 70 68 67 66 65 M&M 1163 1215 1189 1168 1147 1121 TATASTEEL 252 262 255 250 244 237 M&MFIN 236 248 241 236 230 223 TCS 2362 2414 2387 2365 2343 2316 MARUTI 4272 4483 4343 4230 4117 3977 TECHM 507 525 517 510 503 495 MCDOWELL-N 2758 2862 2809 2766 2724 2671 TITAN 345 355 350 346 342 337 MCLEODRUSS 167 176 170 166 161 155 UBL 897 933 915 901 887 870 MRF 38979 40237 39406 38733 38060 37229 UCOBANK 42 44 43 42 41 40 NHPC 21 21 21 21 21 20 ULTRACEMCO 2727 2824 2759 2706 2652 2587 NMDC 88 91 89 88 87 85 UNIONBANK 131 138 135 132 129 125 NTPC 142 148 144 141 137 133 UNITECH 7 7 7 7 6 6 OFSS 3689 3798 3745 3703 3660 3607 UPL 425 438 430 423 417 409 ONGC 226 232 228 225 222 218 VOLTAS 298 318 306 296 287 275 ORIENTBANK 123 128 125 123 121 118 WIPRO 537 569 554 542 530 515 PETRONET 262 272 266 261 257 251 YESBANK 695 731 709 692 674 653 PFC 189 197 192 188 184 179 ZEEL 410 424 416 409 402 393 PNB 103 106 105 103 101 99 POWERGRID 143 152 147 143 139 134 PTC 68 73 71 68 66 64 RCOM 84 88 85 83 80 77 RECLTD 213 219 216 213 210 207 RELCAPITAL 430 465 444 426 409 387 RELIANCE 1052 1110 1072 1041 1010 972 RELINFRA 584 611 596 583 571 556 RPOWER 60 64 61 59 57 54 SAIL 46 48 47 47 46 45 SBIN 204 212 208 205 202 198 SIEMENS 1128 1177 1151 1130 1109 1083 SRTRANSFIN 818 865 842 824 806 783 SUNPHARMA 782 824 804 789 773 754 SUNTV 408 429 415 403 392 378 SYNDIBANK 82 87 84 82 80 77
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