Equity research report ways2capital 13 july 2015

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) Nifty futures/Bank Nifty futures market closed on 8376/ 18779. According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 8293 will be small support for Nifty futures and 18436 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 8194 level and Bank Nifty futures can touch 18040 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 8460 for Nifty futures and 18870 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8638 and 19107 for Bank Nifty futures.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) PIVOT POINT NIFTY DAILY

R2 8598

R1 8444

PP 8368

S1 8291

S2 8138

WEEKLY

R2 9125

R1 8655

PP 8421

S1 8186

S2 7716

MONTHLY

R2 9125

R1 8655

PP 8421

S1 8186

S2 7716

PIVOT POINT BANK NIFTY DAILY

R2 19508

R1 18991

PP 18732

S1 18474

S2 17957

WEEKLY

R2 20489

R1 19315

PP 18727

S1 18140

S2 16965

MONTHLY

R2 20967

R1 19434

PP 18668

S1 17901

S2 16369

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

8281

8316

8470

8407

BANK NIFTY

18184

18106

18194

18194

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

8445

7955

9038

BANK NIFTY

18405

17142

20848

NSE EQUITY DAILY LEVELS COMPANY NAME

R3

R2

R1

PP

S1

S2

S3

ACC ALBK

EQ EQ

1549 96

1514 95

1493 93

1479 92

1458 91

1444 90

1409 88

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

253 842 601 2620 161 188 278 461 677 433 124 3846 382 3740 950 1316 1137 2690 110 971 322 319 929 979 97 735 1929 1308 36331 4024 303 194 69 383 1017 423 47 277 151 950 419 74 288 180

247 818 589 2551 158 184 273 442 660 427 119 3794 372 3656 937 1300 1111 2638 107 938 317 314 912 960 90 720 1899 1282 35812 3981 297 189 68 376 1008 415 46 273 148 933 410 73 285 175

244 806 583 2508 157 182 270 430 654 423 117 3772 366 3626 931 1292 1101 2604 105 919 315 312 903 948 87 715 1887 1265 35506 3957 294 187 67 372 1002 411 45 271 146 923 404 72 280 172

241 794 577 2481 155 180 268 424 644 421 115 3742 362 3573 924 1285 1084 2585 104 905 312 309 895 940 83 705 1868 1255 35293 3938 292 185 66 369 999 407 44 269 144 915 400 71 281 169

238 782 571 2439 154 178 265 412 637 417 112 3720 356 3543 918 1276 1074 2552 102 886 310 307 886 929 80 700 1857 1239 34987 3914 288 182 65 366 993 403 43 267 142 906 395 70 279 166

235 770 565 2411 152 176 262 405 627 414 110 3690 352 3489 911 1270 1058 2532 101 872 308 304 878 921 76 691 1838 1229 34774 3895 286 180 64 363 990 400 42 265 140 898 391 69 277 163

229 745 552 2341 149 172 257 387 611 408 106 3638 342 3406 898 1254 1031 2479 98 838 303 299 861 901 69 676 1807 1219 34255 3852 280 175 63 356 981 392 41 261 136 880 382 68 273 158

SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK

TOP 15 ACHIEVERS

SR.N SCRIPT NAME PREV O CLOSE

//

TOP 15 LOOSERS

CMP

% CHANG

SR.NO

SCRIPT NAME

PREV CLOSE

CMP % CHANG

1

CASTEX TECNOLOGY

248.05

345.85

+39.43

1

VEDANTA

176

146.20

-16.93

2

ESSAR OIL

143.95

189.90

+31.92

2

TATA MOTORS LTD

444.50

401.90

-9.58

3

MAN INDUSTRIES

90.95

119.40

-31.28

3

BAJAJ FINANCE

5498.20

5024.70

-8.61

4

TRF LTD

355.75

449.90

+26.47

4

TATA STEEL

306.95

280.90

5

D-LINK INDIA

198.70

244.50

+23.05

5

CAIRN INDIA

184.30

168.80

6

JET AIRWAYS

278.65

331.65

+19.02

6

GAIL INDIA

390.15

360.90

7

JUBILANT INDUS

159.85

182.85

+14.39

7

HINDALCO INDIS

113.05

104.60

8

CHENNAI PETRO

163.45

178.75

+9.36

8

JUST DIAL

1268.50

1180.85

9

170.40

9

JSW STEEL

891.50

829.90

10

UNION BANK OF 156.30 INDIA EVEREADY INDUS 330.40

10

JK CEMENT

664.75

619.10

11

HIND PETRO

738.55

804.25

11

TEXMO INDUS

36.55

34.10

12

BATA INDIA

1065.75

1157.35

12

YESD BANK

867.05

809.85

13

SHASUN PHARMA

337.05

364.85

13

ONGC

313.90

293.90

-6.37

14

ALSTOM T&D INDIA

546.55

490.15

14

NTPC

138.30

129.85

-6.11

15

BALRAMPURT CHINI

41

44.20

15

EMAMI

1184.20

1112.90

-6.02

359.85

+9.02 +8.91 +8.90 +8.59 +8.25 +7.98 +7.80

-8.49 -8.41 -7.50 -7.47 -6.91 -6.91 -6.87 -6.70 -6.60

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

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

2.

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

3.

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

4.

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

5.

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

CURRENCY MARKET USDINR

R2

R1

PP

S1

S2

DAILY

64.05

63.75

63.58

63.43

63.12

WEEKLY

R2 64.88

R1 64.07

PP 63.66

S1 63.26

S2 62.45

MONTHLY

R2 65.22

R1 64.22

PP 63.72

S1 63.22

S2 62.22

EURINR

R2

R1

PP

S1

S2

DAILY

73.55

71.80

70.95

70.10

68.35

WEEKLY

R2 75.35

R1 72.25

PP 70.75

S1 69.20

S2 66.15

MONTHLY

R2 75.40

R1 72.20

PP 70.60

S1 69.00

S2 65.85

JPYINR

R2

R1

PP

S1

S2

DAILY

53.11

52.41

52.06

51.71

51.01

WEEKLY

R2 54.73

R1 53.01

PP 52.15

S1 51.29

S2 49.57

MONTHLY

R2 55.15

R1 53.10

PP 52.05

S1 51.05

S2 49.10

GBPINR

R2

R1

PP

S1

S2

DAILY

101.70

99.55

98.50

97.40

95.25

WEEKLY

R2 104.20

R1 100.55

PP 98.70

S1 96.90

S2 93.20

MONTHLY

R2 107.25

R1 101.75

PP 98.95

S1 96.20

S2 90.65

NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK ✍ Crude oil futures stabilize after sharp drop - Crude oil futures, which clocked to their biggest single-day declines in more than three months on Monday amid the Greek debt crisis and continued turmoil in China's battered stock markets have now stabilized.A convergence of bearish triggers from the Greek economic crisis to the delicate state of nuclear talks with Iran to worries about slowing Chinese demand mainly led to this sharp plunge.Commodities were all hit after referendum in Greece finished with a "no" vote against accepting bailout conditions from the country's so-called "troika" of lenders in return for unblocking aid. While Greece's lenders insisted that wouldn’t enter into further renegotiations, Prime Minister Alexis Tsipras said that a "no" vote will put the Greeks in a stronger position.Benchmark crude oil futures for August delivery slumped by 4.13.%, to settle at $52.53 a barrel after trading in a range of 52.41 - $ 55.34 a barrel on the New York Mercantile Exchange. Presently, the same was trading higher by 0.71% at $52.90 a barrel.In London, Brent crude for August delivery fell by around 4.89% to $ 56.54 a barrel on the ICE. Presently, the same was trading higher by 0.80% at $56.99/ barrel.

✍ Paint manufacturing companies rally on fall in crude oil prices Shares of Paint Manufacturing companies are trading in a positive zone with decline in crude oil prices. Asian Paints, Kansai Nerolac Paints and Berger Paints India hitting one-month highs.

Crude oil derivatives are key raw materials for manufacturing paints. Brent crude traded at $57.07 a barrel on Tuesday, following the fall in the previous session.Shalimar Paints jumped to a high of Rs. 134.50, and is now up 4.6 percent at Rs. 133. Kansai Nerolac zoomed to a high of Rs. 245, and is now up 4.5 percent at Rs. 242.50. Asian Paints and Berger Paints were trading in a range of 4%.

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

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

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

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

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

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

✍ L&T Finance denies report on stake sale With reference to the news appeared in The Economic Times on July 07, 2015 titled "Warburg Pincus in Talks to Buy up to 25% Stake in L&T Finance", L&T Finance Holdings Ltd has clarified that at the outset, we have no comments to offer on the price movement mentioned by you, as this is a function of the market.On the other information required by the letter, we wish to inform the Exchange that as a part of its ongoing investor relations exercise, the Company meets various investors from time to time and at this point of time we have nothing to share with the Exchanges.The stock exchanges would be informed promptly as and when definitive developments take place.

✍ Infosys to announce Q1 results on July 21, 2015 Infosys Limited, a global leader in consulting, technology, outsourcing and next-generation services, will announce the results for its first quarter ended June 30, 2015 on Tuesday, July 21, 2015 at 8:45 a.m. Indian Standard Time (IST) (11:15 p.m. US ET on July 20, 2015; 08:15 p.m.

PST on July 20, 2015; 4:15 a.m. London time; 11:15 a.m. Singapore/Hong Kong time).

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

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

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

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

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

✍ Bajaj Electricals recovers on good sales - Bajaj Electricals witnessed a sharp rally in the early noon deals on the BSE, after the firm reported good June sales. According to a release issued by the company to the BSE, Bajaj Electricals today reported 4.6 percent growth in June total sales at Rs. 388 crore versus Rs. 371 crore (YoY). So far, the stock has rallied 3.7 percent from the day's low of Rs. 270 to a hit a high at Rs. 279. Now, the stock is up over 0.5 percent at Rs. 278, and has seen trades of around 52,000 shares as against the daily average volume of 65,000 shares in the past two weeks.

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

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

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

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

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

✍ OMCs in demand on back of fall in US Crude Oil futures - Shares of oil marketing companies were in demand on the back of extended fall in the US Crude Oil futures. The NYMEX Crude Oil prices have tanked over 15 percent since 23 June, 2015. BPCL, HPCL and IOC soared to respective fresh 52-week high in intra-day deals Rs. 952, Rs. 848 and Rs. 438.

While, IOC managed to hold gains and finished 1.3 percent higher at Rs. 432, BPCL slipped over 2 percent at close, and HPCL was down 0.5 percent.

✍ Ratan Tata invests in Ampere - Ratan Tata has invested an undisclosed amount in Ampere, a Coimbatore-based electric vehicle start-up, according to the reports. A report says that Tata made the investment along with Ampere’s existing investor, Forum Synergies. The start-up will use the funds to scale up operations and hire talent over two years. Ampere is the first automobile start-up investment for Tata. ✍ Tata Group to sign 3 MOU with Tripura govt - A delegation of Tata executives led by Chairman Emeritus Ratan Tata will sign three Memorandum of Understanding (MoU),according to reports. Chief Secretary Y P Singh reportedly said an MoU would be signed with the department of Industries and Commerce for providing higher technologicalknow-how to two Industrial Training Institutes (ITI) in West Tripura district and

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

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

✍ Aurobindo Pharma hits a high on USFDA nod for Flecainide Acetate - Aurobindo Pharma surged to a high of Rs. 1,481 on reports that the company has received US Food & Drug Administration (USFDA) approval for antiarrhythmic drug Flecainide Acetate.The stock ended flat at Rs. 1,452. It has hit a high of Rs. 1481 and low of Rs. 1446.50.In Bse, the counter has registered trade of around 0.79 lakh shares against two weeks average quantity of 1.02 lakh shares. ✍ Snowman Logistics gains on entering food segment - Snowman Logistics zoomed nearly 5 percent to a high of Rs. 104 on the back of adding new revenue earning stream to its business.According to a release issued by the company to the BSE, company has entered into a three-year service agreement with international food services giant Compass (CGISS), signaling the start of a new vertical at Snowman. As per the agreement, Snowman will address the complete supply chain needs of the food service division of Compass India, the release added.The stock is now up 3 percent at Rs. 102. The counter has seen trades of around 190,000 shares as against the two-week daily average volume of around 182,000 shares on the BSE.

✍ Monnet Ispat skyrockets on plans to sell stake in power arm - Monnet Ispat & Energy has skyrocketed to the 20 percent upper circuit at Rs. 42.75 on likely stake sale in the company.

According to a release issued by the company to the, and company and JSW Energy have entered into a non-binding agreement for initiating discussion to sell majority and controlling stake of its subsidiary, Monnet Power Company, which is engaged in the business of developing 1050 MW (2 x 525) Coal fired thermal power plant located at Malibrahmani, Angul Orissa. The stock is now locked at the 20 percent upper limit, and around 72,000 shares have been traded at the counter as against the two-week daily average volume of around 50,000 shares on the BSE. There are pending buy orders for nearly 190,000 shares.

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

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

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

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

To capitalise the demand for value-added fish products, the Kerala Government plans to set up a fully mechanised manufacturing and processing facility to produce varieties of fish products.

A detailed project report had been submitted to the National Fisheries Board. The new unit will increase the production capacity from 5 tonnes to 15 tonnes. (BL) Greeks voted overwhelmingly on Sunday to reject terms of a bailout, risking financial ruin in a show of defiance that could splinter Europe.With nearly half of the votes counted, official figures showed 61 per cent of Greeks rejecting the bailout offer. An official interior ministry projection confirmed the figure as close to the expected final tally Finance minister Arun Jaitley on Sunday said the direct transfer of cooking gas subsidies into the bank accounts of users will help the government cut its subsidy bill by around Rs 12,700 crore, or around a quarter of the funds spent last year.

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

NITI Aayog vice-chairman Arvind Panagariya on Sunday categorically rejected all criticism of the upward revision of India’s GDP estimates for 2013-14 and 2012-13 by the Central Statistics Office A UN report has projected steady decline in prices of foodgrains over the next decade, attributing the gradual price fall to increase in overall agricultural production and diversification of dietary choices towards meat and dairy products.

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

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

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

The Supreme Court sought responses from the Centre, the Election Commission and six political parties, including Congress and BJP, on a plea to declare all national and regional political parties “public authorities” to bring them under the ambit of the Right to Information Act. India has overtaken the US to become the world's third largest steel producer and is working towards achieving 300 mn tonnes target in the next 10 years, Union Steel & Mines Minister Narendra Tomar said.

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

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

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

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

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

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

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

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

Top Corporate News Reliance Industries will offload 3.1% stake in media and entertainment firm Network18 Media and Investments Ltd to bring down its shareholding to 75%.

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

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

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

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

Yes Bank has partnered with cloud service and business mobility provider Citrix to empower workforce mobility and ensure faster rollout of new branches. The tie-up will provide employees secure access to apps, desktops, data and services from any device, over any network to empower mobile workers with the freedom and flexibility to choose how they work The Centre has allowed state-owned NTPC and PTC India to charge dollar-linked tariffs for their new solar projects.

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

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

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

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

respect to introduction of fuel surcharge for cargo transportation.

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

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

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

Riding on the booming e-commerce space and increasing adoption of non-cash transactions, the combined share of SBI and its five associate banks in the debit cards space has touched 25% in the financial year 2015 The Unit-I (2x250 MW) of Neyveli Lignite Thermal Power Station-II Expansion has completed its continuous operation for 72 hours starting from June 30 to July 03 and qualified for Commercial Operation

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

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

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

Infosys said it has won a multi-year outsourcing contract from Deutsche Bank. Infosys did not disclose the deal value or the tenure of the engagement.

Yes Bank said that it has raised Rs 5.54bn through a tier-II bond issue. The 10-year bonds were raised at a coupon of 9.15% and saw subscription from investors including insurance firms and pension and provident funds.

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

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

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

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

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

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

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