Equity research report 10 aug 2015 ways2capital

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 8599/ 18999. According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 8452 will be small support for Nifty futures and 18921 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 8493 level and Bank Nifty futures can touch 18672 level in next few days. It will be hard support for Nifty futures and Bank Nifty futures. Meanwhile in up trend there is small resistance on 8628 for Nifty futures and 19092 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8711 and 19357 for Bank Nifty futures.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY

R2 8729

R1 8641

PP 8597

S1 8553

S2 8465

WEEKLY

R2 9136

R1 8754

PP 8563

S1 8372

S2 7990

MONTHLY

R2 9157

R1 8799

PP 8602

S1 8389

S2 7986

DAILY

R2 19476

R1 19158

PP 18999

S1 18840

S2 18522

WEEKLY

R2 20153

R1 19385

PP 19001

S1 18617

S2 17849

MONTHLY

R2 20859

R1 19561

PP 18912

S1 18263

S2 16965

BANK NIFTY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

8517

8368

8410

8458

BANK NIFTY

18804

18384

18363

18498

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

8341

8121

8997

BANK NIFTY

18314

7446

29758

NSE EQUITY DAILY LEVELS COMPANY NAME

R3

R2

R1

PP

S1

S2

S3

ACC ALBK

EQ EQ

1449 101

1435 98

1421 96

1414 94

1406 93

1399 92

1392 90

AMBUJACEM ASIAN PAINT AXISBANK BAJAJ-AUTO BANKBARODA BANKINDIA BHEL BHARTIARTL CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK ITC INDUSIND BANK INFY JINDALSTEL KOTAKBANK LT M&M MRF MARUTI ONGC ORIENTBANK RCOM RELCAPITAL RELIANCE RELINFRA RPOWER

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ

238 974 603 2664 198 185 296 433 761 457 136 4384 361 4002 979 1358 1119 2762 115 927 322 331 1002 1159 85 736 1915 1569 47353 4559 299 208 77 408 1036 458 47 301 136 874 423 73 273 230

235 953 596 2629 194 180 291 426 747 447 132 4339 355 4063 964 1340 1110 2726 113 920 318 328 985 1136 83 726 1887 1516 46589 4520 291 198 76 400 1019 446 46 295 134 867 411 72 269 224

232 931 588 2594 190 176 286 419 734 437 127 4294 349 3924 952 1322 1101 2689 111 912 314 326 967 1114 80 716 1859 1464 45825 4482 282 189 75 393 1002 433 45 290 131 860 400 71 265 218

231 918 584 2571 187 173 283 415 725 430 125 4269 345 3886 946 1311 1095 2673 109 909 312 324 957 1104 79 710 1847 1435 45387 4459 279 184 74 388 994 427 44 286 130 856 395 70 263 214

229 910 581 2559 186 172 281 412 720 427 122 4249 343 3785 940 1303 1092 2653 108 905 310 323 949 1091 78 706 1832 1412 45061 444 274 180 73 385 986 420 43 284 129 853 389 69 261 212

228 896 577 2536 183 169 278 408 712 420 120 4224 339 3727 934 1292 1087 2636 107 902 308 322 940 1082 77 700 1820 1383 44623 4421 270265 174 72 380 978 414 42 281 128 849 384 68 259 208

227 889 573 2524 181 167 276 406 706 417 118 4204 337 3646 926 1285 1083 2616 105 897 306 320 932 1069 75 696 1804 1360 44297 44056

SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK

170 71 377 969 408 41 279 127 846 377 67 257 206

TOP 15 ACHIEVERS

SR.NO

SCRIPT NAME

CMP

153.15

206.55

8.85

11.90

6.25

7.80

2

UNION BANK INDIA J P ASSOCIATES

3

UNITECH LTD

4

DLF LTD

101.55

125.70

5

BANK OF BARODA

153.20

185

6

CANARA BANK

256.20

308.65

7

PUNJ NATION BANK

137.65

159.90

8

CEAT LTD

880.55

1021.20

9

DR REDDY LABS

3712

4258.85

10

ORIENTAL BANK

157.45

180.35

11

BANK OF INDIA

149.75

171.30

12

SYNDICATE BANK

89.40

102.25

13

MRF LTD

39504

44922

14

JSW STEEL

813.05

922.45

15

IDBI BANK LTD

49.20

67.05

1

OF

PREV CLOSE

//

% CHANGE

+34.57 +34.46 +24.80 +23.78 +20.76 +20.47 +16.16 +15.97 +14.72 +14.54 +14.39 +14.37 +13.71 +13.46 +13.26

SR.NO

TOP 15 LOOSERS

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

JSW ENERGY

87.55

77.15

-11.88

2

BHEL

283.60

266.15

-6.15

3

TATA CHEMICAL

499.90

473.05

-5.37

4

IDFC LTD

154.25

147.85

-4.15

5

KOTAK BANK

724.95

705.00

-2.85

6

565.95

550.40

-2.75

7

SKS MICRO FINANCE PETRONET

189.45

185.05

2.32

8

CASTROL INDIA

505.25

493.90

-2.25

9

AMBUJA CEMENT

233.55

228.50

-2.16

10

HIND ZINC

158.65

155.45

-2.02

11

IDEA

169.95

166.95

-1.77

12

BHARTIARTL

417.65

411.60

13

M&M FINANCE

260.95

257.20

14

HDFC BANK

1108.35

1092.65

15

GAIL

346.60

341.85

-1.45 -1.44 -1.42 -1.37

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION ) 1.

BPCL - BPCL CAN MOVE UPWARD IF IT BREAK THE RESISTANCE OF 965 AND THE NEXT LEVEL WILL BE 985.

2.

GAIL - GAIL THIS WEEK WILL CORRECT UPTO 330/328 LEVEL IF IT CLOSES BELOW 340 LEVEL ON DAILY CHARTS .

3.

IOC - THIS WEEK IOC COME UPTO THE LEVEL OF 345 IF IT TREADES ABOVE 335 LEVEL ON DAILY CHARTS.

4.

TATASTEEL - THIS WEEK TATASTEEL RECOVERED FROM 245 LEVEL AND TOUCHED HIGH OF 268. IF IT TREADES ABOVE 265 LEVEL THEN UPWARD MOMENTUM CAN BE SEEN UPTO 275/280 LEVEL.

5.

SAIL - SAIL THIS WEEK RECOVERED FROM THE LEVEL OF 56 . TO MAINTAIN UP MOVE THIS HAS TO SUSTAIN THE LEVEL OF 62 ON DAILY CHART THEN FURTHER UPWARD MOMENTUM IS POSSSIBLE UPTO THE LEVEL OF 65/67.

CURRENCY MARKET USDINR

R2

R1

PP

S1

S2

DAILY

64.35

64.15

64.03

63.90

63.70

WEEKLY

R2 65.50

R1 64.60

PP 64.10

S1 63.65

S2 62.80

MONTHLY

R2 65.80

R1 64.70

PP 64.15

S1 63.55

S2 62.50

EURINR

R2

R1

PP

S1

S2

DAILY

71.20

70.35

69.95

69.50

68.65

WEEKLY

R2 74.05

R1 71.45

PP 70.10

S1 68.80

S2 66.20

MONTHLY

R2 74.35

R1 71.70

PP 70.25

S1 68.65

S2 65.95

JPYINR

R2

R1

PP

S1

S2

DAILY

51.95

51.55

51.35

51.15

50.80

WEEKLY

R2 53.55

R1 52.20

PP 51.50

S1 50.85

S2 49.50

MONTHLY

R2 53.85

R1 52.55

PP 51.65

S1 50.55

S2 49.15

GBPINR

R2

R1

PP

S1

S2

DAILY

100.45

99.70

99.35

98.95

98.25

WEEKLY

R2 103.90

R1 101.10

PP 99.65

S1 98.25

S2 95.40

MONTHLY

R2 104.25

R1 101.85

PP 99.85

S1 98.05

S2 94.85

NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ SEBI cancels registration of Sahara Mutual Fund: Reports - Sebi on Tuesday cancelled Sahara Mutual Fund's certificate of registration on expiry of a six-month period with effect from July 28, 2015. The market regulator said Sahara Mutual Fund was no longer fit and proper to carry out this business and ordered transfer of its operations to another fund house. Sebi had ordered refund of over Rs 24,000 crore by two Sahara entities. Recently, Sebi had also cancelled the portfolio management licence of a Sahara firm.

✍ lnduslnd Bank receives RBI approval to set up IFSC banking unit in GIFT unit lnduslnd Bank has received approvals to set up an International Financial Services Centre in Gujarat International Finance Tee-City. lnduslnd Bank's International Banking Unit will provide the bank access to International financial markets and will allow lnduslnd to deliver a complete range of products to its clients with foreign currency funding requirements. The Bank will now be able to actively offer products such as External Commercial Borrowings to its customers an area where it had limited capabilities hitherto. The Bank through this banking unit will also be able to meet the funding requirements of overseas entities which may be joint ventures or subsidiaries of its domestic clients or part of the value chain of its existing customers. Suhail Chander, Head, Corporate & Commercial Banking,lnduslnd Bank said, "The opening of /BU in GIFT city - will be yet another milestone in our growth trajectory. This development will benefit us in servicing foreign currency funding requirements which would help us in meeting our objective of being a complete banking partner to our customers with global aspirations."

✍ United India Insurance yet to decide on Cairn-Vedanta deal - One of the shareholders in Cairn India, said that the company has not taken any decision on the merger issue of Cairn India Ltd and Vedanta. UIICL mentioned in a statement, “the decision (on merger Cairn India Ltd with Vedanta) would be taken by the company, at an appropriate time.” The statement issued amid reports suggesting that United India has decided to oppose the merger. It mentioned that with regards to the merger issue of Cairn India Ltd and Vedanta, the company wishes to state that the same was not on the agenda items of the Annual General Meeting held on July 21, therefore, it would be pre-mature to comment on the matter at this stage. In June, India’s largest private miner Vedanta planned to absorb oil firm, Cairn India Ltd in a USD 2.3 billion all-share deal to become India’s largest diversified natural resources organization.

✍ HDFC Mutual Fund announces close ended income scheme - HDFC Mutual Fund has introduced the HDFC FMP 1134D August 2015 (1), a close ended income scheme. On 5th August 2015, the NFO opens for subscription and closes on August 11, 2015. Entry load and exit load will not be applicable for the scheme. The minimum subscription amount is Rs 5000.

The investment objective of the scheme is to generate income through investments in Debt /

Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan.

✍ Reliance Infra gains on positive news - Reliance Infrastructure continues to trade on a positive note on the BSE, after media reported that Himachal Pradesh government has allotted 960 MW Jhangi-Thopan-Powari hydro project to the company.The scrip climbed to a high at Rs. 435, and is now up a percent at Rs. 432. Around 92,000 shares have changed hands at the counter as against the daily average volume of 311,000 shares in the past two weeks.

✍ Bain Capital to sell remaining stake in Hero MotoCorp - PE firm Bain Capital is planning to exit Hero MotoCorp by selling remaining stake in the Indian two-wheeler maker, according to reports. A report says that the transaction will give the US private-equity firm a twofold return on an investment made a little over four years ago. Bain Capital holds a 1.49 per cent stake in Hero MotoCorp after already selling a majority of the 8.6 per cent stake it bought in 2011. Bain Capital has earned Rs. 320 crore in dividends since 2011.

✍ Shoppers Stop ties up with Snapdeal - Shoppers Stop has tied up with Snapdeal for online retail of products, says report.Shares of Shoppers Stop was up 4% to Rs. 433. The stock has hit a high of Rs. 445 and a low of Rs. 413.

✍ Rolta India jumps on securing new projects - Rolta India suddenly spurted in the morning deals and rallied to a fresh intra-day high at Rs. 132 on the BSE, on the back of securing new projects. Rolta India today announced that it has been awarded Smart City and 3D Mapping with City odelling projects in the Middle East, for a combined value of around $ 15 million. Now, the stock is up almost 7 percent at Rs. 130, and has witnessed more than 3-times jump in volume with trades of around 879,000 shares as against two-week daily average volume of 291,000 shares.

✍ ICICI Bank raises $500 mn via overseas bonds - ICICI Bank, India’s largest private sector bank has raised up to $500 million by selling five-year dollar bonds to overseas investors, according to reports. A report says that the issue opened earlier on Wednesday and will be closing by late evening. The initial pricing guidance for the issue is 180 basis points above the five-year US treasury yield. Earlier the bank raised $500 million in September last year, tapping the same issue again in December by $200 million, says report.

✍ Ramco Cements Q1 PAT at Rs 94.6 cr - The Ramco Cements Ltd has announced the following results for the quarter ended June 30, 2015. The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 94.6 crore for the quarter ended

June 30, 2015 as compared to Rs. 35.5 crore for the quarter ended June 30, 2014. Total Income has decreased from Rs. 963.5 crore for the quarter ended June 30, 2014 to Rs. 954.6 crore for the quarter ended June 30, 2015.

✍ Tamil Nadu Petro Q1 net profit up 67% at Rs. 5 crore - Tamilnadu Petroproducts Ltd has announced the following results for the quarter for the period ended June 30, 2015. The company reported in standalone Q1 net profit to Rs. 5 crore as compared to Rs. 3.6 crore in the corresponding quarter a year ago. During the period under review, the company's Total Income stood at Rs. 227.5 crore Vs Rs. 278.7 crore.

✍ Motherson Sumi Q1 cons net profit at Rs.266 crore; EBITDA Margin at 8.9% Motherson Sumi Ltd has posted a net profit after taxes, Minority Interest and Share of Profit/ (Loss) of Associates of Rs. 2657.60 mn for the quarter ended June 30, 2015 as compared to Rs. 1637.30 mn for the quarter ended June 30, 2014. Total Income has increased from Rs. 83964.50 mn for the quarter ended June 30, 2014 to Rs. 94095.10 mn for the quarter ended June 30, 2015

✍ Tata Global Beverages Q1 net profit at Rs. 82.3 crore - Tata Global Beverages Ltd has announced the following results for the quarter ended June 30, 2015. The Group has posted a net profit of Rs. 82.3 crore for the quarter ended June 30, 2015 as compared to Rs. 97.2 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 1928.7 crore for the quarter ended June 30, 2014 to Rs. 2040.6 crore for the quarter ended June 30, 2015.

✍ Sebi may relax disclosure norms for IPOs - The Securities and Exchange Board of India may relax disclosure rules for companies planning to go for initial public offering, according to reports. A report says that this move will kick in next financial year. The market regulator has recently written to the Institute of Chartered Accountants of India seeking its views on the matter. Current Sebi rules mandate firms to disclose the previous five years' financial statements in IPO document.

✍ Bata India Q1 net profit at Rs. 921.99 mn - Bata India Ltd has posted a net profit of Rs. 921.99 mn for the quarter ended June 30, 2015 as compared to Rs. 593.76 mn for the quarter ended June 30, 2014. Total Income has increased from Rs. 6305.80 mn for the quarter ended June 30, 2014 to Rs. 6848.44 mn for the quarter ended June 30, 2015.

✍ PNB to cut some term deposit rates by 10-100 bps from Aug 10 - Punjab National Bank today reduced term deposit rates by 10-100 bps from August 10. The bank has also reduced interest rate on fixed deposits on select maturities by up to 0.50%. The bank had last cut rate

on fixed deposit in June, as per media reports.

✍ Hexaware Technologies slips 2% despite Q1 growth in net profit - Hexaware Technologies shed 2.5 percent at Rs. 284 despite reporting 29.1 percent growth in Q1FY16 consolidated net at Rs. 98.88 crore when compared with Rs. 76.57 crore in Q1FY14.The stock of the company is trading at Rs. 283.60. The stock of the company is trading down 2.44% from its previous close which was at Rs. 290.70. It hit a high at Rs. 298 and low at Rs. 279. The total traded quantity was 10.62 lakh and two-week average quantity is 90,000.

✍ DLF zooms 6% after plans of fund raise - DLF zoomed 6 percent to Rs. 122 after the company said will seek stockholders’ approval to pledge more than 50 percent of the company’s shares in three of its profitable rent-generating units to raise as much as Rs.7,500 crore. The stock hit a high of Rs. 126.15 and low of Rs. 115.95 on BSE today. The total traded quantity was 21.37 lakh shares and two-week average quantity is 13.14 lakh.

✍ Eveready Inds jumps 1.5% after announcing hike in battery prices - Eveready Industries rose 1.5 percent to Rs. 351 after the company informed BSE that it will hike prices of premium range of batteries by Rs. 0.5-1 per unit. The stock hit a high of Rs. 357.60 and low of Rs. 341 on BSE today. The total traded quantity was 4.21 lakh shares and two-week average quantity is 0.87 lakh.

✍ Deepak Fertilisers gains 2% on decent Q1 earnings - Deepak Fertilisers & Petrochemicals advanced over 2 percent to Rs. 143 after the company reported 13.8 percent growth in Q1FY16 net profit at Rs. 45.33 crore, as against Rs. 39.85 crore in Q1FY15. The stock hit a high of Rs. 146.05 and low of Rs. 141.30 on BSE today. The total traded quantity was 1.12 lakh shares and two-week average quantity is 0.24 lakh.

✍ JK Tyre tanks 2.7% despite strong Q1 nos - JK Tyre & Industries jumped to a high of Rs. 128 after the company reported consolidated net profit of Rs. 118 crore in Q1FY16, as against Rs. 55.44 crore in Q1FY15. The stock, however, tanked 2.7 percent to Rs. 120.The stock hit a high of Rs. 128.10 and low of Rs. 117.30 on BSE today. The total traded quantity was 19.53 lakh shares and two-week average quantity is 11.27 lakh.

✍ United Bank of India Q1 net profit down 21% at Rs. 52.2 cr - United Bank of India announced a decline in standalone net profit for the quarter ended June 2015. The bank booked a net profit of Rs. 52.2 crore for the quarter ended June 2015, as against Rs. 65.9 crore in a year ago period. During the period under review, the company's Gross NPA stood at 9.57% Vs 9.49% for the above mentioned period.

✍ Orient Cement Q1 net profit at Rs. 28 Crore - Orient Cement Ltd has posted results for the first quarter ended 30th June, 2015.The net profit for the quarter stands at Rs. 28 crore.

Total Income for Q1 stands at Rs. 349.4 Crore

✍ Torrent Power gains 3% on Q1 results - Torrent Power gained 2.6 percent at Rs. 168 after the company's Q1 consolidated net profit doubled to Rs. 173 crore in Q1FY16, when compared with Rs. 86.24 crore in Q1FY15. The stock has hit a high of Rs. 176.50 and low of Rs. 166.85.

On BSE, around 6.09 lakh shares have been exchanged against two weeks average quantity of Rs. 1.34 lakh shares.

✍ Tata Chemicals Q1 PAT at Rs. 153 crore, down 13% - Tata Chemicals Ltd has announced the following results for the quarter ended June 30, 2015. The Group has posted a net profit/(loss) after taxes, share of loss of associates and minority interest of Rs. 153 crore for the quarter ended June 30, 2015 as compared to Rs. 175.5 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 3,871.4 crore for the quarter ended June 30, 2014 to Rs. 4,079.4 crore million for the quarter ended June 30, 2015.

✍ Tata Steel surges over 3% in early deals - Tata Steel is trading on a bullish note owing to renewed buying interest at the counter after company said it spun out its European long products unit into a standalone business. According to media reports, the company ha converted its long products unit in Europe making items such as plates, sections and wire rods into a standalone business to better pursue strategic options, after the reported withdrawal of Klesch Group from talks to buy the division. The stock so far in the day has touched a high of Rs. 266, and is now up 3 percent at Rs. 264. The counter has seen trades of around 299,000 shares as against the two-week daily average volume of around 1.03 million shares on the BSE.

✍ Canara Bank Q1 net profit at Rs. 478.8 cr; Net NPA at 2.74% - Canara Bank has announced the following results for the quarter ended June 30, 2015. The Bank has posted a net profit of Rs. 478.8 crore for the quarter ended June 30, 2015 as compared to Rs. 806.9 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 11,728 crore for the quarter ended June 30, 2014 to Rs. 12,252.6 crore for the quarter ended June 30, 2015.

✍ SEBI seeks clarifications on IndiGo's Rs. 2,500 crore IPO - Capital market regulator Sebi is seeking fresh clarifications from IndiGo on its proposed Rs 2,500-crore initial public offer, according to report. Securities and Exchange Board of India reportedly said it is awaiting response from lead managers for the proposed public offer. The next update will be uploaded on Sebi's website on August 10.

✍ Air India invited bids to renew its fleet insurance - Air India has invited bids from direct insurance companies in India to renew its fleet insurance, which expires on September 30. AI has an exposure or hull value of around $9 billion, and a fleet size of 127 aircraft, which is one of the largest in South-East Asia. A senior official said,“The acquisition of Dreamliners and aircraft on lease has hiked the hull value of insurance in recent times. Last year, AI paid a premium of around $26 million.” In 2014, the airline had to fight with a 15 per cent hike in premium, most of which was because of the market hardening after the Malaysian airlines crash. Another official said,”the markets haven’t yet stabilized after the huge payouts experienced in 2013-14. The recent earthquakes have also destabilized the insurance industry

✍ Indiabulls Real rallies 5% on doubling Q1 net - Indiabulls Real Estate has started the day with a surge of 6.8 percent at Rs. 66 on the BSE on the back of reporting 2.3-fold jump in consolidated Q1 net profit on year-on-year basis. The company has booked consolidated net profit of Rs. 90.68 crore in Q1FY16, as against Rs. 38.85 crore in Q1FY15. Total income also grew by 20.5 percent to Rs. 751 crore from Rs. 623 crore. The stock is now up 5.2 percent at Rs. 65. The BSE counter has seen trades of around 546,000 shares, as against two-week daily average volume of 1.8 million shares

✍ Britannia Inds plans to invest Rs. 500 crore - Britannia Industries is planning to invest Rs. 500 crore on capital expenditure this fiscal year, the food company's chairman Nusli Wadia reportedly said. The maker of Tiger and Good Day biscuits will spend maximum ever on capital expenditure in next few years since it is confident of strong growth, Wadia said in an Britannia's 96th annual general meeting. Company managing director Varun Berry said that Britannia at present has installed capacity of eight lakh tonnes per annum, which it plans to expand by 10% year-on-year, says report.

✍ Adani coal mine project: Australian court revokes environmental nod - An Australian court revoked the government's environmental approval for Adani coal mine project, according to report.A report says that the Environmentalists hailed the ruling against the controversial Carmichael mine as another setback for the project. Adani said it was confident the matter would be rectified. The Federal court ruled that the environmental approval granted to Adani in July 2014 by Australian Environment Minister Greg Hunt's office failed to include conditions to protect yakka skink and ornamental snake, says report.

✍ HDFC plans to raise Rs. 5000 crore via quasi-debt issue - Housing Development Finance Corporation is reportedly planning to raise roughly Rs. 5,000 crore through a structured quasi-debt offer to domestic institutions soon. The company is planning to issue non-convertible debentures and warrants to investors, says report. A report says that HDFC and its bankers are aiming to launch the issue in the next couple of weeks.

✍ BPCL plans to shut 90,000 bpd crude unit for 10 days - Bharat Petroleum Corp is reportedly planning to shut a 90,000 barrels per day (bpd) crude unit at its 190,000 bpd Kochi refinery for about 10 days from Sept. 26, according to reports. A report says that the company will link new units during the shutdown period with the crude unit. The company is also planning to complete expansion of the refinery to 310,000 bpd by May 2016, says report.

✍ Corporation Bank Q1 net profit at Rs. 204 crore; Net NPA at 3.55% - Corporation Bank Ltd has posted results for the first quarter ended 30th June, 2015. The Bank has posted a net profit of Rs. 2042.624 million for the quarter ended June 30, 2015 as compared to Rs. 2314.687 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 52150.242 million for the quarter ended June 30, 2014 to Rs. 53345.999 million for the quarter ended June 30, 2015.

✍ Future Retail Q1 net profit at Rs.6.1 crore - Future Retail Ltd has posted results for the first quarter ended 30th June, 2015. The Company has posted a net profit of Rs. 61 million for the quarter ended June 30, 2015 as compared to Rs. 664.80 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 23,766.70 million for the quarter ended June 30, 2014 to Rs. 29,086.90 million for the quarter ended June 30, 2015.

✍ Tata Motors gains ahead of Q1 results - Tata Motors continues to trade on a firm note on the Bombay Stock Exchange (BSE), on hopes that the company may report good earnings. The company is scheduled to announce its results today. So far during the day, the stock has climbed to a high at Rs 390, and is now up 1.5 percent at Rs 388. The counter has logged trades of around 476,000 shares as compared to its daily average volume of 1 million shares.

✍ BHEL Q1 PAT falls 82% to Rs. 33.89 cr - Bharat Heavy Electricals Ltd has posted a net profit of Rs. 33.89 crore for the quarter ended June 30, 2015 as compared to Rs. 193.5 crore for the quarter ended June 30, 2014. Total Income has decreased from Rs. 5,502.8 crore for the quarter ended June 30, 2014 to Rs. 4,854.1 crore for the quarter ended June 30, 2015. The company reported sales stood at Rs. 4,280 crore as compared to Rs. 5,067 crore in a year ago period.

Top Economy news There is no inflation reading to support an interest rate reduction when Reserve Bank of India Governor Raghuram Rajan sets out his monetary policy review on Tuesday. But there is enough evidence building up for him to erase the contradictory messages that his commentary and interest rate reduction delivered in June. A quarter point cut in rate at the last meeting was

vapourised when the guidance accompanying the rate cut was loaded with fears about a resurgence in inflation if monsoon fails, instead of scope to reduce if rains keep food prices in control.

Finance Minister Arun Jaitley lambasted the Congress party for its obstruction tactics inside the parliament and added that the main opposition party’s attitude can hurt the Indian economy.

In a move to decongest the critical section of NH-24, which connects Delhi with Ghaziabad, Noida and several other NCR towns, the National Highways Authority of India has floated tenders for 14-lane 28-km highway from Nizamuddin Bridge to Dasna in Western Uttar Pradesh.

Foreign Direct Investment in petroleum and natural gas sector witnessed an almost 10-time jump in 2014-15 as compared to the preceding fiscal, touching Rs. 64.7bn, the government told the Lok Sabha.

Government’s refinancing scheme Micro Units Development and Refinance Agency, which was launched in the aim of addressing funding problems of at least 57 mn small business across the country, has disbursed Rs. 975mn to microfinance institutions .

Reserve Bank of India has decided to maintain status quo and not cut interest rates in its third monetary policy review of this fiscal on Tuesday. Governor Raghuram Rajan, wary of the high retail inflation in June, declared that the Repo Rate will be maintained at 7.25%, with CRR at 4%. Reverse Repo Rate is held at 6.25%.

The Reserve Bank is all set to issue the first set of differential bank licenses, small finance and payments banks, by the end of August, a move aimed at promoting financial inclusion.

According to Naresh Takkar, Group CEO & MD, ICRA Ltd, "RBI maintained the policy rate in its policy statement today, as it awaits improved transmission of past cuts by banks, additional steps to unclog supply side bottlenecks by the government and resolution of uncertainty related to inflationary pressures and the rate action by the US Federal Reserve. The extent of progress on such factors in the coming two months would critically determine whether the Central Bank reduces the Repo rate in the ensuing policy at the end of September 2015."

The Reserve Bank of India kept interest rates unchanged but raised hopes of a reduction before the end of the year if the monsoon maintains its "near normal" progress thus far to keep farm product prices in check and a global supply glut prevents oil prices from climbing.

Faced with severe shortage of funds to meet the food subsidy bill, the government said it is examining a proposal to raise Rs 400bn via long-term bonds from LIC to liquidate the subsidy arrears.

Alok B. Shriram, President, PHD Chamber of Commerce and Industry expressed his disappointment on status quo maintained by RBI on repo rate as the pressure of high interest rates is impacting industry and investment environment.

RBI in its Monetary Policy statement said that the US economy rebounded on stronger

consumption growth and steadily improving labour market conditions, though recent wage data suggest continuing slack. The Euro area has grown at a moderate pace through the first half of 2015, supported by consumer spending, easing financing conditions and a modest downturn in still-high unemployment. In Japan, growth slowed in Q2 after an upside surprise in Q1.

The government is likely to bring in rules to make it compulsory for sugar mills to export millions of tonnes of surplus supplies to support local prices, sources said, in a move that could quell growing anger among farmers but add to a glut on global markets.

Poor monsoon and low reservoir levels in Krishna river system has forced the Krishna River Management Board to make it clear there would be no water for crops served by the river in Telangana and Andhra Pradesh.

US regulator FDA has hiked its fees for new generic drug applications by up to 30%, a move that may hit hard Indian drugmakers, which account for a major chunk of generic medicines sold in that country.

The Employees Provident Fund Organisation made its debut in the equity markets. EPFO has chosen two index-linked ETF schemes, SBI Nifty ETF and SBI Sensex ETF to invest its funds.

The Government is considering a proposal to allow export of 4 mn tonnes of sugar through barter trade against import of farm commodities to help mills offload surplus stock and clear cane arrears of over Rs 140bn, Food Minister Ram Vilas Paswan said.

Seeking to bridge the demand-supply gap, the government is likely to import around 210 million tonnes of coal in the ongoing fiscal.

State-owned Coal India will invest Rs 13,900 crore to take its production to 908 million tonnes by 2019-20, the government said.

Despite the stand taken by the food safety watchdog, Consumer Affairs Minister Ram Vilas Paswan said he was hopeful that Nestle's Maggi will be back on the shelves soon, drawing comfort from favourable test reports for the top instant noodles brand from some accredited laboratories.

A total of 174 central government infrastructure projects are expected to be commissioned this fiscal, with 149 battling time overruns, Parliament was informed today.

In India to explore two-way relationships in areas of trade, investment and banking, Doha Bank CEO said he is positive about the country even as the global economy is still under pressure.

Top Corporate News Bharti Airtel plans to ramp up its 4G presence to touch at least 100 cities by the year-end while continuing to offer the service at 3G prices for the foreseeable future to make the most of its first mover advantage ahead of launches by serious rivals.

Bharti Airtel announced the commercial launch of its high-speed 4G services across 296 towns nationwide.

YTS Solutions Limited, a leading payments solutions company, announced a strategic integration of its payments and remittance businesses with Bharti Airtel, the 3rd largest mobile service provider globally. The acquired business will be integrated with the operations of Airtel Money Services Ltd, a 100% subsidiary of Airtel.

Britannia Industries has lined up capital expenditure of Rs 5bn this fiscal and it plans substantial investment in the next two-three years as well, Chairman Nusli N Wadia said.

Britannia Industries is planning to invest Rs. 500 crore on capital expenditure this fiscal year, the food company's chairman Nusli Wadia said.

Berger Paints India Ltd has decided to install two factories in Assam. One of them will be a putty and distemper manufacturing facility to be put up by British Paints Division of the Company and the other will be a water and solvent based paint mixing plant by Berger Division.

Betting big on a spur in infrastructure spend by the government, Berger Paints India will launch new products in coatings and construction chemicals

Heromoto Corp Ltd launched two new bikes, Hero Xtreme Sports and Hero Passion PRO in Madhya Pradesh where it already commands a market share of 50%.

Bain Capital is set to exit Hero MotoCorp by selling its remaining stake in the Indian two-wheeler maker, two people familiar with the matter said.

In order to make a stronger push in markets outside the country Hero Motocorp has indicated a higher marketing spend in the next two years to make a fresh pitch to international buyers.

Dr. Reddy's Laboratories announced that it has entered into a strategic collaboration with Amgen - one of the world's leading independent biotechnology companies - to market and distribute three Amgen medicines in India in the areas of oncology and cardiology.

Dr Reddy's Laboratories said it has entered into strategic collaboration with US-based Amgen to market and distribute three of its medicines in India in the areas of oncology and cardiology.

Tata Power is evaluating whether to acquire stressed power projects of other companies.

Tata Power with the present installed capacity of 8,750 MW has launched an evaluation for the acquisition of stressed power projects in the country.

Tata Steel has completed the move of incorporating its Long Products Europe division into a new standalone wholly-owned subsidiary within its European operations to create a sustainable future.

Tata Sons will acquire 2.2% stake in Titan Company at an estimated price of over Rs6.8bn, increasing its holding to 19.6%.

Chambal Fertilizer has signed a pact with ONGC and the Tripura government to set up a urea plant in the state, Parliament was informed.

Drug firm Ajanta Pharma has received final approvals from the US health regulator for generic montelukast tablets and oral granules used for prevention and treatment of asthma and to relieve symptoms of seasonal hay fever.

Vakrangee Ltd says it will open more than 37k centres across the country as part of its tie-up with Amazon India to help the ecommerce giant sell in rural and semi-urban areas and leverage the recently created Jan Dhan Yojana accounts for payments.

The government plans to sell 3% stake in state-owned gas utility GAIL India which could fetch over Rs 13bn to the exchequer.

Sundaram Finance said it will sell its entire stake in subsidiary BNP Paribas Sundaram Global Securities for a total consideration of Rs. 443mn.

SBI ruled out any interest rate cut for its borrowers, even as the RBI chided banks for not having passed the full benefits of the last three reductions in its policy rate.

Maoists stormed the mining area of State-owned iron ore major National Mineral Development Corporation facilities in Dhantewada district of Chhattisgarh, and damaged mining equipment.

Infosys is undertaking a complete revamp of its products business under Michael Reh. It's increasing investments to strengthen banking software Finacle's footprint in the US, spending more on marketing brands and building new sets of products and solutions. It aims to generate $2 billion of annual revenue from products and new services by 2020.

DLF Ltd has announced that it is seeking approval of its shareholders to create charge, lien or pledge on its over 50% shares in three subsidiaries for raising up to Rs. 7,500 crore.

Bharat Petroleum Corp is reportedly planning to shut a 90,000 barrels per day crude unit at its 190,000 bpd Kochi refinery for about 10 days from Sept. 26.

Reliance Industries has appointed Hital Meswani as its new HR director Wockhardt is recalling over 50 lakh bottles of various drugs, used for treating ailments like high blood pressure and ulcer.

Punj Lloyd Group has bagged an order worth Rs 4.77bn for Ennore LNG tankage project from Mitsubishi Heavy Industries of Japan.

HDFC Bank and online marketplace Snapdeal jointly launched a co branded e-commerce credit card.

State-owned National Buildings Construction Corporation Ltd said it has bagged orders worth over Rs 5.4bn in July, 2015.

The ongoing ban on Maggi instant noodles will not result in job cuts, Nestle India's newly appointed Managing Director Suresh Narayanan has said while seeking to bring back 'pride and self confidence' among the company's 7.2k-odd employees.

Stepping up presence in the premium category, Maruti Suzuki India launched the crossover S-Cross at a starting price of Rs. 834k.

Yes Bank said it has raised $ 49.2mn from International Finance Corporation, the private sector financing arm of the World Bank. The funds are raised for a term of 10 years at 8.95% Star India, which held 25.99% stake in Balaji Telefilms, has offloaded all its shares in the company at Rs. 63.6/share. The total deal value is pegged at Rs. 1.1 bn.

Larsen & Toubro has sought shareholders nod to raise up to $600mn through issuing securities to meet capital requirement of growing business.

In a bid to counter the deep discounting strategy by e-tailers, Bata India is planning to create a separate portfolio exclusively for online.

Bharat Heavy Electricals Ltd could be next on the list of the Centre’s disinvestment offer, while mega issue of ONGC and Indian Oil may take some more time.

Mining conglomerate Vedanta Ltd is likely to start iron ore mining operations at the Codli mines in Goa on August 10.

Emami Ltd has raised Rs 9.5bn debt to partially fund the acquisition of Kesh King brand of hair products which was touted as one of the biggest deal in recent times in the Indian FMCG industry.

State-owned Coal India will invest Rs 139bn to take its production to 908 million tonnes (MT) by 2019-20, the government said.

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