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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.
WEEKLY R2 R1 PP S1 S2
9136 8754 8563 8372 7990
MONTHLY R2 R1 PP S1 S2
9157 8799 8602 8389 7986
BANK NIFTY
DAILY R2 R1 PP S1 S2
19476 19158 18999 18840 18522
WEEKLY R2 R1 PP S1 S2
20153 19385 19001 18617 17849
MONTHLY R2 R1 PP S1 S2
20859 19561 18912 18263 16965
SR.NO SCRIPT NAME PREV CMP % CHANGE SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
CLOSE
1 UNION BANK OF 153.15 206.55 +34.57 1 JSW ENERGY 87.55 77.15 -11.88
INDIA
2 J P ASSOCIATES 8.85 11.90 +34.46 2 BHEL 283.60 266.15 -6.15
3 UNITECH LTD 6.25 7.80 +24.80 3 TATA CHEMICAL 499.90 473.05 -5.37
4 DLF LTD 101.55 125.70 +23.78 4 IDFC LTD 154.25 147.85 -4.15
5 BANK OF BARODA 153.20 185 +20.76 5 KOTAK BANK 724.95 705.00 -2.85
6 CANARA BANK 256.20 308.65 +20.47 6 SKS MICRO 565.95 550.40 -2.75
FINANCE
7 PUNJ NATION BANK 137.65 159.90 +16.16 7 PETRONET 189.45 185.05 2.32
8 CEAT LTD 880.55 1021.20 +15.97 8 CASTROL INDIA 505.25 493.90 -2.25
9 DR REDDY LABS 3712 4258.85 +14.72 9 AMBUJA CEMENT 233.55 228.50 -2.16
10 ORIENTAL BANK 157.45 180.35 +14.54 10 HIND ZINC 158.65 155.45 -2.02
13 MRF LTD 39504 44922 +13.71 13 M&M FINANCE 260.95 257.20 -1.44
14 JSW STEEL 813.05 922.45 +13.46 14 HDFC BANK 1108.35 1092.65 -1.42
15 IDBI BANK LTD 49.20 67.05 +13.26 15 GAIL 346.60 341.85 -1.37
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
WEEKLY R2 R1 PP S1 S2
65.50 64.60 64.10 63.65 62.80
MONTHLY R2 R1 PP S1 S2
65.80 64.70 64.15 63.55 62.50
EURINR R2 R1 PP S1 S2
WEEKLY R2 R1 PP S1 S2
74.05 71.45 70.10 68.80 66.20
MONTHLY R2 R1 PP S1 S2
74.35 71.70 70.25 68.65 65.95
JPYINR R2 R1 PP S1 S2
WEEKLY R2 R1 PP S1 S2
53.55 52.20 51.50 50.85 49.50
MONTHLY R2 R1 PP S1 S2
53.85 52.55 51.65 50.55 49.15
GBPINR R2 R1 PP S1 S2
WEEKLY R2 R1 PP S1 S2
103.90 101.10 99.65 98.25 95.40
MONTHLY R2 R1 PP S1 S2
104.25 101.85 99.85 98.05 94.85
NSE - WEEKLY NEWS LETTERS
✍ 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.
✍ 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.
✍ 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.
✍ 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.
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.
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.
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.
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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