Morning Notes 3-Nov-2015 Indices 2-Nov 30-Oct % Chg. Major Indices 2-Nov 30-Oct % Chg. FII's & DII's in equity Rs.Crs S&P BSE SENSEX 26,559 26,657-0.37% CAC 40 Index 4,916 4,898 0.38% 02-Nov Buy Sell Net S&P CNX NIFTY 8,051 8,066-0.19% DAX Index 10,951 10,850 0.93% FII / FPI Investments 3258 3531-273 S&P BSE MidCap 10,983 10,975 0.08% Dow Jones Industrial A 17,829 17,664 0.94% DII's Investments 1336 1190 145 S&P BSE SmallCap 11,292 11,315-0.20% FTSE 100 Index 6,362 6,361 0.01% FII's contribution to the total turnover 38% Nasdaq Composite Ind 5,127 5,054 1.45% DII's contribution to the total turnover 14% BSE Sectoral Indices S&P BSE REALTY 1,384 1,372 0.91% Major Asian Indices 2-Nov 30-Oct % Chg. FII's in Derivatives Rs.Crs S&P BSE CONSUME 11,935 11,873 0.53% Hong Kong 22,370 22,640-1.19% 02-Nov Index Fut Index Opt Stock Fut Stock Opt S&P BSE FMCG 7,873 7,847 0.33% Nikkei 225 18,683 19,083-2.10% Net -256 2215-267 72 S&P BSE OIL & GAS 9,093 9,066 0.30% Korea 2,035 2,029 0.28% OI 16802 56505 45856 1905 S&P BSE TECk 6,131 6,115 0.26% Shanghai 3,325 3,383-1.70% Chg.OI -1.3% 9.2% 1.8% 32.1% S&P BSE IT 11,291 11,264 0.24% Taiwan 8,615 8,554 0.71% FIIs' contribution to the total Derivatives turnover 28% S&P BSE AUTO 18,175 18,166 0.05% S&P BSE BANKEX 19,779 19,774 0.03% Commodities (MCX) 2-Nov 30-Oct % Chg. Curr. Derivatives (NSE) 2-Nov 30-Oct % Chg. S&P BSE PSU 6,767 6,777-0.15% Aluminium (30NOV201 97 96 0.83% USDINR 26-NOV-2015 65.90 65.61 0.44% S&P BSE POWER 1,914 1,917-0.18% Copper(30NOV2015) 337 337 0.27% EURINR 26-NOV-2015 72.62 72.28 0.47% S&P BSE HEALTHCA 17,936 18,066-0.72% Crude (19NOV2015) 3,033 3,068-1.14% JPYINR 26-NOV-2015 54.65 54.49 0.31% S&P BSE CAPITAL G 14,789 14,946-1.05% Gold (4DEC2015) 26,409 26,499-0.34% DJIA (20-NOV-2015) 17630 17708-0.44% S&P BSE METAL 7,215 7,308-1.27% Silver (4DEC2015) 36,191 36,490-0.82% S&P500 (20-NOV-2015) 2079 2088-0.44% Top Gainers Top Gainers Top Gainers Top Gainers BSE Smallcap BSE Midcap BSE 100 CNX Nifty Company LTP Chg % Chg Company LTP Chg % Chg TECHM 557 18 3.4 BAJAJ-AUTO 2431-119 -4.7 Top Losers YESBANK 773 14 1.9 TATASTEEL 239-8 -3.3 ACC 1404 25 1.8 VEDL 97-3 -3.1 M&M 1204 21 1.8 TATASTEEL 239-8 -3.3 COALINDIA 325 5 1.6 BAJAJ-AUTO 2431-119 -4.7 Company LTP Chg % Chg Company LTP Chg % Chg RCOM 80 5 6.2 BAJAJ-AUTO 2426-124 -4.9 Top Losers ABB 1273 38 3.1 JPASSOCIAT 13-1 -4.0 UNITDSPR 3250 98.2 3.1 NMDC 96-4 -3.9 TECHM 556 17 3.1 HINDALCO 81-3 -3.7 UBL 962 23.9 2.5 HDIL 70-3 -3.7 Company LTP Chg % Chg Company LTP Chg % Chg ORIENTBANK 146 11 8.1 SJVN 27-1 -4.4 Top Losers OBEROIRLTY 303 18 6.3 EMAMILTD 1024-47 -4.4 RCOM 80 5 6.2 JPASSOCIAT 13-1 -4.0 INDIANB 133 8 6.1 ASHOKLEY 90-3 -3.6 PEL 991 52 5.6 INDHOTEL 96-3 -3.2 Company LTP Chg % Chg Company LTP Chg % Chg GREAVESCOT 143 18 14.3 OPTOCIRCUI 13-2 -12.4 Top Losers MAHSCOOTER 1464 159 12.1 IOB 31-4 -11.3 NAVINFLUOR 1767 154 9.6 IFBAGRO 390-46 -10.5 MINDAIND 570 49 9.3 WELSPSY 112-12 -10.0 BALAJITELE 116 9 7.9 EROSMEDIA 251-28 -10.0 CNX Nifty BSE 100 BSE Midcap BSE Smallcap Domestic Market View Markets to taste recovery with a positive start The Indian markets extended their decline for the sixth straight day in last session, on some weak macro data and disappointing earnings. Today, the start is likely to be in green and markets will taste some gains on positive global cues. On the domestic front, there will be support with growth in eight core sectors rising to 4-month high of 3.2 percent in September because of sharp pick-up in fertiliser production and electricity generation. Core sector that comprises nearly 38 percent of India s total industrial production had grown at 2.6 percent in the same month of last year. Also, Moody's Investors Service projecting stable growth rate for India has said the economy would grow at 7.5 percent in the current fiscal and improve marginally in the following year. The aviation stocks that have been flying high since past some time are likely to get further strength with a private report stating that the number of air travellers in the country is slated to rise more than threefold to 218 million by 2025 from 70 million in 2015 and each metro requires a second greenfield airport to handle the traffic.
Domestic Market Overview Benchmarks extend southward journey for sixth straight session Extending their southward journey to sixth straight session, Indian equity benchmarks ended the session slightly in red on Monday. Sentiments remained downbeat after India s manufacturing sector growth slipped further and touched a 22-month low in October largely due to a slower increase in new orders, but firms hired additional workers. Sentiments also remained dampened on report that foreign institutional investors (FIIs) have reduced their exposure in 35 Nifty companies during July- September quarter as they recast their portfolio primarily on account of global factors. Domestic indices even went on to test important psychological 26,400 (Sensex) and 8,000 (Nifty) levels, but the key gauges got some support near those intraday low levels as they trimmed their losses from thereon as investors continued hunt for fundamentally strong stocks. Traders drew some solace with report that Global rating agency Moody's has upgraded its outlook for the Indian banking system to stable from negative on gradual improvement in operating environment. Some support also came with Finance Minister Arun Jaitley s statement that the government was looking to ease foreign direct investment rules and reduce the number of approvals needed to speed up investment. Selling in banking counter also weighed sentiments despite Moody s Investor Services revising outlook on the Indian banking system to stable from negative, owing to the changing operating environment of local banks, managed to end flat with a positive bias. Moody s expects the recovery in Indian banks to be U shaped rather than V shaped. The ratings agency has also said that apart from improvement in operating environment for local banks, it also saw stability in drivers such as asset risk and capital, funding and liquidity, profitability and efficiency and government support. Global Market Overview Asian markets close mostly in red on Monday The Asian equity markets ended mostly in red on Monday, after soft Chinese factory surveys stoked global growth concerns. Activity in China s manufacturing sector unexpectedly shrank for a third straight month in October, fuelling fears that the economy may be cooling further in the fourth quarter despite a raft of stimulus measures. The official Purchasing Managers Index (PMI) was at 49.8 in October, the same pace as in previous month and lagging market expectations of 50.0. Japanese manufacturing activity in October expanded at the fastest pace in a year as new domestic and export orders increased. The Markit/Nikkei Japan Final Manufacturing Purchasing Managers Index (PMI) rose to a seasonally adjusted 52.4 in October, slightly less than a preliminary reading of 52.5 but a solid improvement from the final reading of 51.0 in September. US markets closed higher; Dow turns positive for 2015 The US markets closed higher on Monday, that helped push the Dow industrials into positive territory as investors brushed off a weak manufacturing data and instead focused on a spate of deals and earnings. On the economy front, the Markit s gauge of manufacturing activity released in the US showed the activity improved to six-month high on the back of a faster rise in output, new orders and employment levels. The final seasonally adjusted Markit US Manufacturing Purchasing Managers Index (PMI) printed at 54.1 in October; up from 53.1 in September. New export sales continued to rise at only a modest pace in October, with the latest rise in the work from abroad being the fastest since September 2014. Employment growth rebounded from the 27-month low recorded during September. Input costs continued to drop on lower commodity prices, while manufacturers indicated that their factory gate charges rose only fractionally. Construction spending climbed a seasonally adjusted 0.6% in September to take year-on-year gains to 14.1%. Residential construction jumped 1.8% during the month, while nonresidential spending slipped 0.1%. The Dow added 165.22 points or 0.94 percent to 17,828.76, Nasdaq was up 73.40 points or 1.45 percent 5,127.15, while the S&P 500 gained 24.69 points or 1.19 percent to 2,104.05.
Index Futures (OI in '000 Shares) Future Chg Spot Chg Prem / Total Open Interest 2-Nov (%) 2-Nov (%) Disc 2-Nov Chg (%) NIFTY 8,076-0.23 8,051-0.19 25.3 22,308 1.6 CNXIT 11,590 0.42 11,546 0.52 43.6 10-2.2 BANKNIFTY 17,397-0.68 17,341-0.08 56.0 2,125 1.2 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 / 2-Nov % Chg. 2-Nov % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc ORIENTBANK 10,581 40% 15,75,012 11% 25% 10,72,092 146 147 8.3% 8.3% 0.8 TVSMOTOR 6,730 26% 14,22,522 38% 37% 5,49,503 274 275 2.9% 3.5% 0.9 BATAINDIA 3,323 14% 3,54,796 34% 47% 50,336 504 486 0.5% -0.7% -17.8 GODREJIND 2,111 13% 97,211 34% 34% 30,520 397 386 0.7% 0.1% -11 TITAN 12,356 13% 14,09,902 30% 49% 7,85,552 357 353 1.9% 1.8% -3.4 INDIACEM 27,114 13% 25,93,953 15% 58% 51,996 84 84 7.0% 6.8% 0.6 MCLEODRUSS 2,464 9% 2,47,279 51% 47% 1,28,630 176 177 2.4% 2.8% 1.1 UNIONBANK 14,679 6% 22,86,361 33% 41% 3,63,536 160 160 2.3% 1.9% 0.9 ADANIPORTS 25,152 5% 25,88,888 34% 57% 6,31,290 296 297 0.0% 0.0% 1.8 JISLJALEQS 46,720 5% 22,03,536 42% 36% 9,09,722 63 63 1.7% 1.7% 0.4 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 / 2-Nov % Chg. 2-Nov % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc IOB 14,896 49% 21,81,956 11% 56% 8,87,298 31 30-11.7% -12.8% -0.6 KSCL 1,410 20% 2,19,388 33% 26% 1,53,256 481 460-4.1% -6.0% -20.8 APOLLOTYRE 9,027 10% 18,98,765 49% 25% 3,38,602 170 171-0.6% -0.1% 1.1 UCOBANK 14,320 9% 49,45,359 54% 28% 34,29,723 50 50-1.9% -2.0% 0.3 LT 11,252 9% 34,52,611 63% 40% 39,139 1389 1397-1.4% -1.3% 7.9 HDIL 15,138 8% 15,74,529 14% 15% 90,987 70 70-2.8% -3.4% 0.4 CASTROLIND 1,266 8% 1,43,023 52% 28% 47,545 453 455-1.9% -2.0% 2.4 HDFC 11,186 7% 25,09,757 72% 59% 12,25,803 1221 1229-2.7% -2.6% 8.1 M&MFIN 13,374 5% 4,12,267 50% 41% 1,63,892 223 220-1.8% -2.5% -3.2 HEROMOTOCO 1,216 5% 2,36,474 63% 62% 16,951 2546 2561-1.5% -1.3% 15.4 Open Interest Break-up (Rs. in Cr.) 02-Nov 30-Oct Change in OI % Chg INDEX FUTURES 22,850 21,566 1,285 5.96 INDEX OPTIONS 83,864 76,131 7,733 10.16 TOTAL INDEX 1,06,715 97,697 9,018 9.23 STOCK FUTURES 60,391 58,369 2,022 3.46 STOCK OPTIONS 10,964 9,160 1,805 19.70 TOTAL STOCKS 71,355 67,529 3,826 5.67 GRAND TOTAL 1,78,070 1,65,225 12,844 7.77 FII's 1,21,068 1,15,230 5838 5.07 Others 57,002 49,995 7006 14.01
Corporate News Steel Strips Wheels (SSWL) has reported 9.5% growth in its total wheel rim sales to 10.92 lakh as compared to 9.98 lakh in October 2014. In terms of Value, the company has achieved gross turnover of Rs 110.57 crore in October 2015 as compared to Rs 93.93 crore in October 2014, recording a growth of 17.71% and achieved a Net turnover of Rs 99.45 crore in October 2015 as against Rs 84.56 crore in October 2014, recorded a growth of 17.60%. Tera Software has bagged the work order worth Rs 320.88 crore for Implementation and Management of Aerial Optical Fiber Grid to establish wide optical fiber network infrastructure in the state of Andhra Pradesh from INCAP (Infrastructure Corporation of Andhra Pradesh). Pratik Panels has completed the process of sale of its land situated at 44 & 56, Rawabhata Industrial Estate, Bilaspur Road, Raipur in state of Chhattisgarh. The company had earlier received board s approval at its meeting held on November 12, 2014 for the proposed sale. Escorts Agri machinery segment (EAM), a subsidiary of Escorts, has sold total of 5,862 tractors in October 2015 against 8,554 tractors in October 2014. Domestic sales in October 2015 stood at 5,832 tractors against 8,403 in October 2014. Export for the month of October 2015 stood at 30 tractors against 151 tractors in October 2014. Reliance Communications (RCom), one of India s leading fully-integrated telecommunications service providers, and Sistema JSFC, a publicly-traded diversified holding company in Russia and the CIS, have signing of definitive documents for demerger of Sistema s Indian wireless business, carried on by Sistema Shyam Teleservices (SSTL) under the MTS brand, into RCom. Dr. Reddy s Laboratories has launched Nise D spray, emphasizing its strategic intent of being a player of substance in the Indian OTC (Over The Counter) space. Nise D spray, offers quick and targeted pain killing. Through this product the company has further expanded its offerings in the therapeutic area of pain relief to consumers. Indiabulls Real Estate (IBREL) has cut its net debt by over Rs 300 crore during Q2FY16 and is aiming to further trim it by Rs 1,850 crore by March 2017. Net debt of the Mumbai-based developer stood at Rs 5,153 crore as on September 30, 2015 against Rs 5,461 crore at the end of the June quarter of 2015-16 financial year. Chowgule Steamships has sold and delivered its vessel M.V. Maratha Providence to the buyer on October 29, 2015. This step has been taken pursuant to approval accorded by the shareholders. Rama Steel Tubes (RSTL) has started commercial production at its Khopoli plant, near Mumbai, doubling its capacity to 72,000 tonnes of mild steel tubes output. The plant is the company s latest addition to its two existing plants at Sahibabad near Delhi. The Khopoli plant enjoys the economic advantage of low transportation cost benefiting exports as well as distribution in the western and southern pipe markets in India. Atul Auto has reported 6.90% growth in sales for the month of October 2015 at 4,599 units as compared to 4,302 units sold in October 2014. The company s total sales from April to October this year rose by 6.46% and stood at 25,362 units as compared to 23,823 units in the same period last year. Raymond s unlisted step-down subsidiary -- Ring Plus Aqua (RPAL) -- has entered into a business transfer agreement to sell/ transfer as a going concern its Forging Business to Trinity India Forgetech, a subsidiary of Smita Steels Rolling Mills for a total consideration of Rs 26 crore, subject to fulfilment of conditions precedent. Eicher Motors has sold 44,522 units in October 2015, registering a growth of 71% as compared to 26,039 units sold in October 2014. The company s domestic sales stood at 44,138 units, up by 73% as against 25,510 units in October 2014. However, export of the company declined 27% to 384 units as compared to 529 units sold in October 2014. Tata Motors continued to witness strong year-on-year growth in certain key segments in October 2015, with passenger cars (excluding UV s), M&HCV and Exports, growing by 15%, 20% and 13%, respectively. Total sale of Tata Motors passenger and
commercial vehicles (including exports) were at 43,486 vehicles, higher by 1%, over 42,862 vehicles, sold in October 2014. The domestic sale of Tata commercial and passenger vehicles for October 2015 were at 38,917 vehicles, remained flat, over vehicles sold in October 2014. Mahindra & Mahindra s (M&M) Farm Equipment Sector (FES), a part of the $16.9 billion Mahindra Group, has reported its sales numbers for October 2015. Domestic sales in October 2015 stood at 27,280 units, down by 11% as against 30,800 units during October 2014. Bajaj Auto, the second-largest motorcycle manufacturer has registered fall of 9% in total sales to 3,52,822 units in October 2015 against 3,86,017 units in October 2014. The sales of the motorcycles decreased by 8% and stood at 3,08,733 units in the month under review against 3,36,923 units in October 2014. The company has reported 10% fall in Commercial Vehicles sales, which stood at 44,089 units in October 2015 as compared to 49,094 units in month of October 2014. The company s total exports out of the above stood at 1,27,645 units, a loss of 19% as compared to 1,58,547 units sold in the corresponding month last year. Mahindra & Mahindra (M&M), India s leading SUV manufacturer, has reported its auto sales numbers which stood at 51,383 units during October 2015 as against 42,780 units during October 2014, registering a growth of 20%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 24,060 units in October 2015 as against 20,255 units during October 2014, up by 19%. Gammon Infrastructure Projects SPV has commenced tolling operations at the Rajahmundry Godavari Bridge Road project toll booth with effect from November 01, 2015, the Commercial Operation Date, approved by the competent authority. Rajahmundry Godavari Bridge is special Purpose Vehicle (SPV) of Gammon Infrastructure Projects where it holds 71.43% stake. Coal India, the world s largest coal miner by output, has reported provisional production of 44.37 million tonnes in October 2015, as against target of 46.84 million tonnes. The company s total off-take for the month of October stood at 44.41 million tonnes as against a target of 44.31 million tonnes. Power Grid Corporation of India (PGCIL) has been selected as the successful bidder under tariff based competitive bidding to establish transmission system for Strengthening of Transmission System beyond Vemagiri Project on build, own operate and maintain (BOOM) basis. The Letter of Intent (Lol) has been received on October 29, 2015. Birla Corporation has commissioned its Cement Blending Unit at Raebareli with an annual capacity of 5 lac tons.the company had earlier in August, agreed to a transaction with Lafarge India, whereby Birla Corp, either directly or through its wholly owned subsidiary, shall acquire both the Jojobera and Sonadih cement businesses from Lafarge India for an Enterprise Value of Rs 5,000 crore..economy India becomes world's 7th most valued 'nation brand' India has become the world s seventh most valued nation brand in 2015, moving up one position from 2014. There has been increase of 32 per cent in its brand value to $2.1 billion from that of $1.62 billion in 2014, as per report on world s most valuable nation brands by global consultants Brand Finance. The surge of 32 per cent in India's 'nation brand value' is the highest among all the top-20 countries on the list. The report stated that India s 'Incredible India' slogan has worked well. As per the report, India is the only country among the Brics nations to have witnessed an increase in its brand value with others -- Brazil, Russia, China and South Africa - seeing a dip in their respective brand valuations. India is the second most valued among these emerging economies after China, followed by Brazil, Russia and South Africa. On the global front, the US remains on the top position with a valuation of $19.7 billion, followed by China and Germany at the second and the third positions respectively. The UK is ranked 4th, Japan is at fifth position and France is sixth on the list. The US remains the world's most valuable nation brand. Its value comes in large part from the country's sheer economic scale. China has retained its second position despite a decline of one percent in its brand value to $6.3 billion.
Govt forms inter-ministerial committee to review drug pricing policy In order to review the Drug Price Control Order (DPCO) 2013, the government has formed an inter-ministerial committee, following the Supreme Court verdict this year that termed the drug pricing policy as irrational and unreasonable. The committee will look into the drug pricing mechanism specifically in the market based pricing formula which is being used at present under DPCO 2013. An inter-ministerial committee comprising representatives from Department of Industrial Policy & Promotion (DIPP), Ministry of Health, National Pharmaceutical Pricing Authority (NPPA) and Department of Pharmaceuticals have been formed following the Supreme Court orders to look into the pricing of drugs as there have been complaints that the companies are making significant profits which go up to few thousand per cent. Earlier in July, the Supreme Court had observed that the centre was fixing maximum price of a medicine above the retail price of the leading company, after hearing the NGO All India Drug Action Network petition. According to the NGO s petition one of the five issues to be considered by the government includes that MBP (Market Based Pricing) was never used for any price regulatory purposes and this was making medicines costlier. Besides, the NGO had also sought inclusion of more life-saving medicines of diseases like diabetes and tuberculosis in the list of drugs whose prices would be regulated by the government. Manufacturing PMI slips to 22-month low of 50.7 in October Showing further loss of growth momentum, manufacturing activity in India fell unexpectedly in October, highlighting weaker growth of both output and new orders. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers Index, showed a weakest rise in output in current 24-month, posting a 22-month low of 50.7 in October against 51.2 in September. However, the PMI has recorded above the crucial 50.0 threshold in each month since November 2013 that gave some solace along with report of companies adding to their workforces for the first time since January and continued to increase buying levels. A figure above 50 represents expansion while one below that means contraction. The survey though said that business conditions across the Indian manufacturing economy improved further in October but the output growth eased in the month on the back of a slower increase in new orders. Rates of expansion in both production and order books were the weakest in their current 24-month sequences of growth, with panellists reporting challenging economic conditions and a reluctance among clients to commit to new projects. Sectorwise, consumer goods was the best performing one in October, while improving operating conditions were also seen in the intermediate goods sub-sector. Conversely, capital goods firms saw business conditions deteriorate in the latest month as output and new orders declined for the first time since September 2014 and August 2014 respectively. Petrol price reduced by 50 paise, diesel rate unchanged Oil Marketing Companies (OMCs) have slashed price of petrol by 50 paise per litre while keeping the rate of diesel unchanged. The new rates announced by the oil marketing companies (OMCs) are effective from November 1, 2015. Following the change, petrol will cost Rs 60.70 per litre in Delhi as against Rs 61.20 per litre, while diesel will cost Rs 45.90 per litre. Petrol price was last revised on September 1 where it was cut by Rs 2 per litre while diesel prices were hiked by 95 paise per litre on October 15 and by 50 paise per litre on October 1. With the current level of international product prices and the rupee-dollar exchange rate, Oil Marketing companies went ahead and further reduced fuel prices. PSU oil marketing companies, Indian Oil Corporation, Bharat Petroleum Corp and Hindustan Petroleum Corp revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rates in the previous fortnight. Fiscal deficit stands at 68% of Budget estimate for April- Sept 2015 India s fiscal situation was retained well within the control and showed improvement in April-September period over the year ago, despite spending heavily on public investments. As per the data released by the Controller General of Accounts, the fiscal deficit for
the first half of the current fiscal year stood at Rs 3.78 lakh crore or 68.1 percent of the Budget estimate (BE) for the whole year pegged at Rs 5.55 lakh crore or 3.9 percent of GDP. The fiscal situation showed improvement for the six months of the current fiscal year over the year ago as the deficit then stood at 82.6 percent of the Budget estimate of 2014-15. The data further highlighted that the revenue collections picked up pace during the first six months at Rs 5.31 lakh crore or 45 percent as against 35.1 percent the same period last fiscal. Total receipts from revenue and non-debt capital of the government during the first six months read Rs 5,31,982 crore or 43.5 percent. The government estimates Rs 12.21 lakh crore receipts at end- March 2016. On the other side, the total expenditure touched Rs 9.10 lakh crore or 51.2 percent as against the government's estimate for the current fiscal at Rs 17.77 lakh crore. Plan expenditure jumped to Rs 2.53 lakh crore or 54.6 percent of the full-year budget estimate as against 42.8 per cent of the BE in the same period a year ago. The drinking water and sanitation, coal, civil aviation, heavy industries, petroleum and natural gas and road transport and highways ministries registered heavy plan spending. Meanwhile, the non plan expenditure during April-September of 2015-16 was at Rs 6.56 lakh crore or 50 percent which is half of the budget target for this fiscal year. Government looking to ease foreign direct investment rules: FM In an indication that the government is readying a reform plan to be implemented soon, the Finance minister Arun Jaitley has said that the government was looking to ease foreign direct investment rules and reduce the number of approvals needed to speed up investment. Jaitley said that Having opened most sectors for foreign direct investment, time has come to examine whether some of the conditionalities on which FDI investment is permitted have become anachronic. We need to cut down on the number of permissions required so that the time lag between the decision to invest and the actual investment can be shortened significantly. Jaitley further said the Centre issued two important ordinances including changes in arbitration law to make arbitrations cheaper, faster and free from judicial intervention. He said that a new bankruptcy law was being readied to provide for ease of exiting along with the ease of opening business. He added that when you compulsorily need a completion certificate for a building, the permission required for start of construction should be replaced by a regulatory mechanism. These additional changes will further improve India's ranking for ease of doing business, he said while complementing states for the changing work culture. Source: Reuters, Ace Equity & LKP Research
Tech View CNX Nifty Technical View NA IMPORTANT LEVELS FOR THE DAY Support BSE NSE BANKNIFTY S1 26,312 7995 17206 S2 25,971 7946 17082 Resistance R1 26,863 8076 17408 R2 27,204 8126 17533 Pivot 26,587 8,036 17,307
Tech View PIVOT POINTS Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 ACC 1398 1447 1415 1389 1363 1331 GAIL 311 324 315 308 300 291 ADANIENT 88 97 93 90 86 82 GLENMARK 984 1026 1003 985 967 944 ADANIPORTS 296 314 304 296 288 279 GMRINFRA 13 14 13 13 13 12 ADANIPOWER 32 33 32 31 31 30 GODREJIND 397 413 403 394 386 375 ALBK 76 79 77 76 74 72 GRASIM 3691 3812 3746 3693 3639 3574 AMBUJACEM 210 216 212 208 205 201 HAVELLS 254 259 256 253 251 248 ANDHRABANK 66 68 66 65 64 63 HCLTECH 876 891 882 876 869 861 APOLLOHOSP 1342 1398 1361 1331 1301 1264 HDFC 1221 1308 1267 1234 1200 1159 APOLLOTYRE 170 179 174 169 165 160 HDFCBANK 1083 1112 1097 1085 1073 1058 ARVIND 279 291 283 277 271 263 HDIL 70 75 72 70 69 66 ASHOKLEY 90 99 95 91 88 84 HEROMOTOCO 2546 2626 2586 2554 2522 2483 ASIANPAINT 830 847 838 831 824 815 HEXAWARE 234 251 241 233 226 216 AUROPHARMA 847 874 857 843 828 811 HINDALCO 81 88 84 82 79 76 AXISBANK 478 486 481 477 473 468 HINDPETRO 783 802 790 780 770 757 BAJAJ-AUTO 2433 2719 2580 2467 2353 2214 HINDUNILVR 803 818 808 800 791 781 BANKBARODA 162 169 164 160 157 152 HINDZINC 156 163 159 156 153 149 BANKINDIA 133 139 135 132 128 124 IBREALEST 63 66 64 63 61 59 BATAINDIA 504 537 517 500 484 464 ICICIBANK 280 287 282 279 275 271 BHARATFORG 861 888 872 860 847 831 IDBI 86 90 87 85 83 81 BHARTIARTL 350 360 353 349 344 337 IDEA 141 144 142 140 139 137 BHEL 200 208 204 200 196 192 IDFC 58 63 60 57 55 51 BIOCON 451 466 458 453 447 439 IFCI 27 28 27 27 26 25 BPCL 872 895 882 871 860 847 IGL 486 509 497 488 479 468 CAIRN 153 157 155 153 151 148 INDIACEM 84 93 87 81 76 69 CANBK 278 284 280 277 273 269 INDUSINDBK 914 929 919 912 904 894 CENTURYTEX 540 578 559 543 528 509 INFY 1131 1157 1140 1127 1114 1097 CESC 579 609 593 581 568 553 IOB 31 33 32 31 29 28 CIPLA 680 701 690 681 672 661 IOC 397 408 402 398 393 388 COALINDIA 325 336 328 323 317 309 IRB 247 260 253 248 243 236 COLPAL 939 990 965 945 925 900 ITC 337 349 342 336 330 322 CROMPGREAV 170 182 176 171 167 161 JINDALSTEL 79 85 82 79 77 73 DABUR 271 277 273 269 265 261 JISLJALEQS 63 66 64 62 61 59 DISHTV 104 110 107 105 102 100 JPASSOCIAT 13 14 14 13 13 12 DIVISLAB 1156 1209 1175 1147 1119 1085 JPPOWER 8 9 8 7 7 6 DLF 119 125 121 118 114 110 JSWENERGY 94 100 97 94 91 88 DRREDDY 4296 4395 4332 4282 4231 4168 JSWSTEEL 896 939 917 900 882 861 EXIDEIND 153 158 155 152 150 146 JUBLFOOD 1497 1580 1529 1488 1446 1395 FEDERALBNK 55 58 56 54 52 50 JUSTDIAL 800 847 823 804 785 761
Tech View Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 KOTAKBANK 687 698 691 685 680 673 TATACHEM 409 422 415 409 403 395 KTKBANK 128 133 130 128 126 123 TATACOMM 433 444 436 430 424 416 L&TFH 66 68 67 66 66 65 TATAGLOBAL 133 138 135 133 130 127 LICHSGFIN 481 495 486 478 471 461 TATAMOTORS 388 399 393 388 383 378 LT 1389 1430 1407 1389 1371 1348 TATAMTRDVR 263 270 266 263 260 256 LUPIN 1900 1994 1942 1901 1859 1808 TATAPOWER 69 70 69 69 68 67 M&M 1209 1266 1238 1215 1193 1165 TATASTEEL 239 255 247 241 234 226 M&MFIN 223 235 229 224 220 214 TCS 2517 2558 2531 2509 2487 2461 MARUTI 4496 4620 4544 4482 4420 4344 TECHM 556 583 564 549 533 514 MCDOWELL-N 3252 3431 3314 3219 3124 3006 TITAN 357 389 367 348 330 307 MCLEODRUSS 176 186 180 175 169 163 UBL 963 1004 976 954 931 903 MRF 39359 40526 39933 39453 38972 38379 UCOBANK 50 54 52 50 48 46 NHPC 18 18 18 18 18 17 ULTRACEMCO 2928 3009 2953 2907 2862 2806 NMDC 96 105 101 97 94 90 UNIONBANK 160 171 164 159 153 146 NTPC 133 137 134 132 130 127 UNITECH 7 8 8 8 7 7 OFSS 3945 4061 3986 3926 3865 3791 UPL 458 475 466 458 450 441 ONGC 247 255 250 246 242 237 VOLTAS 278 294 286 279 273 264 ORIENTBANK 146 165 152 141 131 118 WIPRO 575 586 579 574 568 561 PETRONET 194 200 196 194 191 188 YESBANK 772 795 779 766 753 737 PFC 243 252 247 243 238 233 ZEEL 413 425 417 411 405 397 PNB 129 133 131 129 127 125 POWERGRID 129 132 130 129 127 125 PTC 65 67 66 65 64 62 RCOM 80 87 83 79 75 71 RECLTD 249 259 254 250 246 241 RELCAPITAL 418 437 427 419 410 400 RELIANCE 960 978 966 956 945 933 RELINFRA 391 405 398 392 386 378 RPOWER 50 52 51 50 49 48 SAIL 52 55 54 52 51 49 SBIN 237 243 239 236 233 229 SIEMENS 1315 1374 1341 1313 1286 1252 SRTRANSFIN 940 992 966 946 925 899 SUNPHARMA 865 895 880 867 854 839 SUNTV 387 413 401 391 381 369 SYNDIBANK 95 98 96 94 93 91
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