TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The market has kick-started in positive trend on Monday Nifty was up 46 points or 0.67

percent at 7468.75 The mixed trend seen In Europe and Asian markets. The Gain in the Indexes Followed

on Europe Market and US Market that surge approx 1 per cent on last Friday after European Central Bank

said to easing monetary policy in current fiscal,crude oil prices also rebounding. Investors also remained

disappoint over market volatility. "On Wednesday market opened strong following positive Global cues,

Nifty Open up 33.60 points or 0.4 percent at 7469.75. Asian equity markets followed their Wall Street

peers as investors cheered strong European data, and the OPEC Countries also called meeting. Hope to cut

the production of Crude oil. pause in the greenback's rally and higher oil prices. Going forward, if the Nifty

manages to sustain above the 7550 mark then we may witness a continuation of this move towards 7600-

7750 levels. On the other hand, 7550-7480 are now seen as important Support levels, The major resistance

for Nifty is 7680 if the Nifty able to meet that point we could find the comfortable zone for Nifty to move

in the continues trend for Next week. The Resistance for next week is 7680-8010 and the Support for Next

week for Nifty50 is 7400-7350.

BANK NIFTY : - The Bank Nifty open in Positive trend on Monday trading session at 15667 up by 170

points or 0.8 per cent Above . The Bank Nifty is currently trading at 15470 up by 27.75 point or 0.06 per

cent. The The Bank of Japan adopted negative interest rates for the first time at the end of its two-day

policy review on Friday. The Bank Nifty is seems Strong for Next week also. It can cross the level of

17000. The Strong Resistance for Bank Nifty is 15600-15800 And the Banking Nifty Strong support is

15460-15330 . If the Bank Nifty able to break the level of 16600 we may witnessed the 16000-16200 level

For Next week.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8010 7680 7515 7350 7020

WEEKLY R2 R1 PP S1 S2

8010 7680 7515 7350 7020

MONTHLY R2 R1 PP S1 S2

9782 8322 7592 6862 5402

BANK NIFTY

DAILY R2 R1 PP S1 S2

16658 15822 15404 14986 14150

WEEKLY R2 R1 PP S1 S2

17084 15992 15446 14900 13808

MONTHLY R2 R1 PP S1 S2

22711 18091 15781 13471 8851

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7548 7715 7850 8110

BANK NIFTY 15735 16420 16825 17560

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7250 7990 8280

BANK NIFTY 14880 17540 19150

PATTERN FORMATION ( NIFTY AND BANK NIFTY )

Depiction of Chart On the Above given weekly chart Applied the 200 days Moving average along with 50 days Exponential moving

Average. The Moving average lag the current price action because they are based on past prices longer the time period the greater the lag of

Moving Average. Thus a 200-day MA will have a much greater degree of lag than a Less-days MA because it contains prices for the past

200 days. With breaks above and below this moving average considered to be important trading signals.for Buying or Selling. MA also

impart important trading signals on their own, .While on the Above given Chart EMA is About to cross over the MA which is a early signal

for Bullish movement for Nifty . The global market also in Support for Bull movement, The privilege for Nifty50 to give gap-up opening in

next week. So we can expect that if the Nifty is crossing the level of 7600 it can make the high of 77650-7680 for

Next Week. Weekly Support of Nifty Is 7450-7500 And Resistance is 7600-7650.

BANK NIFTY MACD

Details of Chart On the Above given weekly chart of bank Nifty applied 200 days Moving Average along with 50 days Exponential

moving Average . And the both are the indicators on Bull movement for Bank Nifty. After long time the Bank Nifty has seen the Near

level of 16900. The market is now in good shape so we could expect the handsome return from the Bank Nifty for Next week. Hope from

Banking industry is Also good for next week, so we are assuming further movement of Bank Nifty The Crucial level for Banking Nifty is

15600-15800 if the Nifty able to meet that target we can Expect the Bank Nifty 16000 level near next week. we Still bullish on bank Nifty.

The major Resistance for Nifty Is 15800-16150 And the Support for Banking Nifty is 15400-15320.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1277 1264 1240 1227 1203

ALBK EQ 55 54 52 51 50

AMBUJACEM EQ 197 196 194 193 191

ASIAN PAINT EQ 881 873 866 858 851

AXISBANK EQ 419 413 403 397 387

BAJAJ-AUTO EQ 2368 2345 2304 2281 2240

BANKBARODA EQ 134 129 126 121 118

BANKINDIA EQ 101 100 98 96 94

BHEL EQ 14 139 137 136 134

BHARTIARTL EQ 303 295 288 280 273

CIPLA EQ 589 584 581 576 573

COALINDIA EQ 335 328 316 309 297

DLF EQ 100 98 95 93 91

DRREDDY EQ 3214 3161 3066 3013 2918

GAIL EQ 377 372 367 362 357

GRASIM EQ 3489 3441 3396 3348 3303

HCLTECH EQ 880 872 857 849 834

HDFC EQ 1209 1190 1167 1148 1125

HDFCBANK EQ 1059 1053 1044 1038 1029

HEROMOTOCO EQ 2649 2605 2523 2479 2397

HINDALCO EQ 72 71 70 68 67

HINDUNILVR EQ 828 838 809 799 780

ICICIBANK EQ 242 235 227 220 212

ITC EQ 329 323 319 313 309

INDUSIND

BANK

EQ 957 944 922 909 887

INFY EQ 1194 1180 1155 1141 1116

JINDALSTEL EQ 68 66 63 61 58

KOTAKBANK EQ 158 156 155 153 152

LT EQ 1131 1115 1092 1076 1053

M&M EQ 1262 1246 1224 1208 1186

MRF EQ 36328 35977 35638 35287 34948

MARUTI EQ 4248 4171 4047 3970 3846

ONGC EQ 230 227 224 221 218

ORIENTBANK EQ 117 114 110 108 104

RCOM EQ 65 63 62 60 58

RELCAPITAL EQ 399 391 380 372 362

RELIANCE EQ 1053 1044 1031 1022 1009

RELINFRA EQ 491 480 466 455 441

RPOWER EQ 52 51 50 49 48

SBIN EQ 189 184 181 176 173

SSLT( VEDL) EQ 72 69 68 67 66

SUNPHARMA EQ 904 891 865 852 826

TATAMOTORS EQ 349 342 333 326 317

TATAPOWER EQ 61 61 60 59 58

TATASTEEL EQ 262 255 251 244 240

UNIONBANK EQ 137 133 127 123 117

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION)

NSE CASH

GATI : IT IS MOVE IN BULLISH TREND WE CAN EXPECT FURTHER BULLISH SIDE

MOVEMENT IN IT ABOVE 123 TGT 140 SL 118.

ADANIENT : WE CAN MADE LONG POSITION IN IT ABOVE 77 TGT 90 SL 72.

HCC : HCC MOVES IN BULLISH TREND ON DAILY CHART WE CAN EXPECT FUTHER UPSIDE

MOVEMENT IN IT ABOVE 22.60 TGT 25 SL 21.

SUZLON : WE CAN MADE LONG POSITION IN IT ABOVE 20 TGT 25 SL 18.

RENUKA SUGARS : IT MOVES IN BULLISH TREND TODAYS WE CAN EXPECT FURTHER

UPTREND IN IT ABOVE 13 TGT 18 SL 11.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 ADITYA BIRLA

NUVO

2065.70 870.00 -57.88%

2 JUST DIAL 802.15 608.65 -24.12%

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5 JET AIRWAYS 670.90 602.60 -10.18%

6 UNITED SPIRITS

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8 7 ENGINEERS

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8 ADANI PORTS 232.40 212.70 -8.48 %

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10 UNITED

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INDUSTRIES

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12 BEML LTD 1115 1041 -6.67%

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1 13 BHARTI AIRTEL 310.15 289.70

-6.59%

14 SYNDICATE BANK 72.10 67.55 -6.34%

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15 TATA POWER CO. 64.35 60.35 -6.22%

SR.NO SCRIPT NAME PREV

CLOSE CMP % CHANGE

1 TATA ELEXSI LTD 1734 2076 +19.72%

2 NIIT TECH. 473 552 +16.69% 1. N

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2 3 FINOLEX IND. 272.90 317.45 +16.32%

4 HIND. ZINC 138.50 160.65 +15.99% 6. H

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5 UNION BANK OF IN 114.50 130.50 +13.93%

6 TORRENT POWER LT 207.45 234.30 +12.92% T

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7 GUJRAT PIPAVAV 143.45 161.85 +12.83%

8 GRUH FINANCE 232.25 261.15 +12.83% G

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9 SUN PHARMA 277.45 311.70 +12.44%

10 APOLLO TYRES 132.35 147.60 +11.52% A

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11 UPL 392.10 436.90 +11.43%

12 INDIA CEMENT LTD 83.80 93.35 +11.40% I

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13 SKS MICROFINANCE 476.05 528.80 +11.08%

14 PIRAMAL ENTERPRI 895.65 994.60 +11.05% P

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NSE FUTURE

JUSTDIAL FUTURE : JUSTDIAL MOVES BEARISH TRENS TODAY.ALSO ON DAILY CHART

IT CONTINOUSLY MOVES IN BEARISH TREND WE CAN MADE SHORT POSITION IN IT

BELOW 550 TGT 500 SL 565.

KSCL FUTURE : WE CAN MADE LONG POSITION IN AT ABOVE 360 TGT 400 SL 340.

APOLLOHOSP FUTURE : APOLLOHOSP FUTURE MOVES IN BULLISH TREND WE CAN

EXPECT FURTHER BULLISH REND IN IT ABOVE 1498 TGT 1550 SL 1480.

BEML FUTURE : BEML FUTURE MOVES IN BEARISH TREND TODAY ON DAILY CHART IT

ALSO SUGGEST BEARISH TREND WE CAN MADE SHORT POSITION IN IT BELOW 1050 TGT

1000 SL 1070.

JETAIRWAYS FUTURE : IT IS MOVES IN BEARISH TREND TODAY ALSO ON DAILY CHART

IT IS MOVES IN BEARISH TREND

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

GST remains very high on the government's priority: Arun Jaitley - Finance Minister

Arun Jaitley reportedly said that one main reform which is still work in progress is ‘ease

of doing business’ in India and steps are under way on that front. Jaitley said the political

opposition is unlikely to obstruct the reform process, including on the direct and indirect

tax reforms. Speaking at ‘The Global Economic Outlook’ session, Jaitley said GST

remains very high on the government’s priority, says report.

India's forex reserves fall by $1.7 billion - The country’s forex reserves were lower by

$1.7 billion to $347,208 billion in the week to January 15, according to RBI data. RBI

data says that the foreign currency assets slipped by $1.72 billion to $324.67 billion The

value of gold in the reserves remained unchanged at $17.24 billion during the week. The

country’s reserve position in the IMF further witnessed a drop of $0.7 million to $1.296

billion.

Govt may boost capital infusion plan for PSBs - The Finance Ministry is considering

injecting more capital into public sector banks than the previously announced INR

70,000 crore infusion to strengthen their balance sheets, reports a business daily. “We are

assessing the capital requirement position of each bank depending on their bad loans and,

if need be, we may have to expand the capital infusion programme,” a Finance Ministry

official has said. An announcement to this effect could be made next month by Finance

Minister Arun Jaitley in the Union Budget for 2016-17 if the Government decides to

expand the capital infusion programme, according to the paper. The plan is at a

preliminary stage and no decision has been taken so far, adds the paper.

India is in better position than rest of the world: Chanda Kochhar, ICICI Bank - As

the world dives into financial weakness, Chanda Kochhar, MD and CEO of ICICI Bank

shared her insight on the macroeconomic outlook. According to her, the rupee is

performing better than other global currencies. She sees a visible improvement in

inflation with interest rates going down and finds the overall macroeconomic picture

better when compared to the rest of the world.

India Utilities: What industry interactions suggest - 15 States have joined the SEB

debt restructuring proposal introduced by the Center in Nov 2015. Power demand has

been stable and is up 2.7% Y-o-Y in 9MFY16. Our industry interactions suggest that SEB

payments are not seeing further delays. 4,030MW has been awarded on solar in the last 6

months, while thermal addition plans are muted as M&A focus continues. We remain

positive on NTPC and Power Grid.

Indian economy has potential to grow at 8%: Montek Singh Ahluwalia - Indian

economy, which expanded at 7.7 per cent between 2003 and 2014 has the potential to

clock 8% growth in the near future, Planning Commission’s former deputy Chairman

Montek Singh Ahluwalia reportedly said. Montek Singh Ahluwalia reportedly said that

for India to grow at 7.7-8%, implementation of reforms like Goods and Services Tax and

Bankruptcy law are necessary. “I would say post-1991 reform, from 2003-14, India grew

at 7.7 per cent, Ahluwalia said. Indian economy grew at 7.3 per cent last fiscal.

We should be careful about calculating GDP growth: Rajan - RBI Governor

Raghuram Rajan raised doubts over the new methodology used to calculate the country’s

gross domestic product , according to reports. Rajan said that the policymakers should be

careful while arriving at the figure. “There are problems with the way we count GDP

which is why we need to be careful sometimes just talking about growth,” Rajan said

while addressing students of the Indira Gandhi Institute of Development Research. Rajan

reportedly said “We have to be a little careful about how we count GDP because

sometimes we get growth because of people moving into different areas.

Bank of Japan adopts negative interest rate policy - The Bank of Japan adopted

negative interest rates for the first time at the end of its two-day policy review on Friday,

buckling under pressure to ease concerns about the health of the world's third-largest

economy. In a move that was signaled by the Nikkei business daily minutes ahead of the

decision, the BOJ said it will apply a rate of negative 0.1 percent to excess reserves that

financial institutional place at the bank and introduce a three-tier system on rates .

Long due IMF quota reforms come into effect - The quota reforms of the International

Monetary Fund are likely to be implemented soon which would be instrumental in

fortifying IMF’s credibility, legitimacy and effectiveness, says a PTI report. The IMF

reforms which came into effect on Thursday, have been due since a long span of time and

were also approved by the US Congress last year. Emerging economies like India and

China would enjoy increased voting rights, with the implementation of the reforms, as per

the report. IMF had approved the reforms in 2010 however, the implementation had been

held back since the same were not cleared by the US Congress.

Budget for 2016-17 likely to have quite a pruned disinvestment target: ASSOCHAM

- With complete dimming of prospects of disinvestment target being met in the current

financial year and the markets expected to stay in subdued mood even in the next fiscal,

the government is likely to drastically scale down targets for realization of resources from

PSUs’ stake sale in the Budget for 2016-17, ASSOCHAM said today. “It is given that

with just about a month to go for the Budget presentation and the window of opportunity

having been missed earlier in the year, there is no hope that the over-optimistic target of

Rs Rs 69,500 for the current financial year could be reached. Hopefully, the Finance

Ministry will desist from setting an un-realistic disinvestment yet again for the FY 2016-

17,” the ASSOCHAM Paper on Budget expectations pointed out.

Fitch: Weakness in emerging markets weighs on global ratings outlook - In its latest

global credit outlook report, Fitch Ratings says that rating outlooks are improving in most

sectors in developed markets, but worsening in emerging markets, where they have fallen

for the past five years and are now more negative than for their developed market

equivalents in core sectors. History shows a correlation between a strengthening US

dollar and weakening EM sovereign credit worthiness, as a falling US dollar income can

affect credit fundamentals.

RBI rate reduction does not impact sovereign rating: S&P - The Standard & Poor's

Ratings Services today said that RBI rate reduction does not affect the sovereign rating of

the country in any way. Further, the banking sector in India is relatively well regulated

compared with the peer banking system, it added. Details to follow soon.

Fed caution, an acid test of global confidence - Confidence in the global economy

received another dent on Wednesday night following the Federal Reserve’s cautious tone

towards the current global woes which rapidly erased any optimism that US rates could

be increased four times this year. The economic landscape has morphed dramatically

from the December meeting offering nothing but pain, and this has forced the previously

hawkish committee to take a few steps back and re-evaluate their stance. Although the

Fed decided to be mindful in the statement by reiterating a similar language to December

in an attempt to mitigate further turmoil in the financial markets, critical changes

highlighting slowing economic growth and low inflation levels have made the idea a US

rate increase in March difficult to imagine.

India and ADB sign $80 mn loan agreement to improve urban services in 2 cities -

The Asian Development Bank and the Government of India signed a $80million loan

agreement to continue improving infrastructure in two North Eastern State Capital cities.

The loan is the third tranche of a $200 million financing facility under the North Eastern

Region Capital cities Development Investment Program and will be used for investments

in water supply, solid waste management and sanitation in Agartala and Aizwal. It will

also support urban reforms, benefiting nearly a million people in the two cities. Previous

program tranches have provided assistance to five other cities in the Northeast Shillong

(Meghalaya), Aizawl , Kohima , Gangtok and Agartala .

Government to sell 10% stake in Engineers India; stock cracks 6% - Engineers India

ended lower 6% at Rs. 194.05 after the government announced that it would sell 10%

stake in Engineers India on Friday; this will fetch over Rs. 690 crore to the exchequer.

The scrip opened at Rs. 199.1 and touched a high and low of Rs. 199.2 and Rs. 193.5

respectively. A total of 1747173 shares were traded on the counter. The current market

cap of the company is Rs. 6920.75 crore.

The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 252 on 01-

Jan-2016 and a 52 week low of Rs. 157.9 on 25-Aug-2015. Last one week high and low

of the scrip stood at Rs. 216.3 and Rs. 202.55 respectively. The promoters holding in the

company stood at 69.37 % while Institutions and Non-Institutions held 20.06 % and

10.58 % respectively.

Budget 2016: Will it help in simplifying tax laws? - There is a tendency of many

people building up on their expectations whenever a new year comes knocking. Well, a

majority of these expectations are more or less tagged to financials and more often than

not, the expectations are not met due to financial constraints. Currently are lot of people

are looking up to the authorities to make their lives sustainable.

FDI quality improves substantially with PM Narendra Modi's Make in India push -

The quality of foreign direct investment coming into the country has improved

substantially, according to Reserve Bank of India data. Much of this FDI materialised in

the September 2014-November 2015 period after Prime Minister Narendra Modi

launched the Make in India campaign and bettered portfolio inflows during the preceding

15 months. Gross FDI inflows amounted to $62.6 billion, 31% higher than $47.6 billion

in the preceding 15 months.

TOP ECONOMY NEWS

The Indian Drug Manufacturers Association has asked the union health ministry to

reconsider its proposal to increase fees for product registration, inspection and clinical

trials.

Farmers who parted with their land for highway projects are to get enhanced

compensation under the new land acquisition law in case they are yet to be compensated

under the old legislation.

The Finance Ministry is considering infusing more than the announced Rs700bn in public

sector banks to help strengthen their balance sheets.

With over 900 kilogram of gold deposited under the gold monetisation scheme, the

government has further relaxed norms that would benefit both depositors and banks. The

modified guidelines allow premature redemption under medium and long term deposits,

allowing withdrawals after a period of three years and five years respectively. Earlier,

withdrawals could be made only after a period of five to seven years for medium term

deposits and 12 to 15 years for long term deposits.

The procurement price of LED bulbs has fallen further to Rs64.41 from Rs 73 per unit

under a government programme which could make he energy-efficient lighting more

affordable.

The Asian Development Bank approved a record $2.6 billion of new financing and

investments for the private sector in 2015, a 37% increase from a year earlier and 62%

higher than in 2013.

Moody’s reportedly said India’s credit profile will be unaffected by a small slippage in

fiscal deficit target. Moody’s Investors Service Associate MD Atsi Sheth stated that a rise

in corporate profits and bounce back in government revenues hold key to India meeting

3.5 per cent fiscal deficit target in 2016-17, says report.

After the anti-dumping duty on imports of cold-rolled flat products of stainless steel last

month, domestic stainless steel industry is seeking anti-circumvention duties on the same

product and has already approached the Ministry of Commerce with its plea.

Uday scheme, rolled out by Power Ministry to bail out financially stressed discoms, will

soon be modified to accommodate 12 states without their own distribution company.

The government has begun awarding road construction contracts following a

simplification of procedures in this regard and plans to award a total of 10,000 km of road

projects by the end of the current fiscal, Finance Minister Arun Jaitley said. He said 6,800

km of highway projects have already been awarded and by March this figure would go up

to 10,000 km.

Union Urban Development Minister M Venkaiah Naidu released a list of the first 20 of

the 98 cities shortlisted to be developed under for the Narendra Modi government’s Smart

Cities Mission. These 20 cities will be the first cities to receive funds for development as

smart cities. In the next two years, 40 and 38 cities will, respectively, will be included to

the list.

Indian economy, which expanded at 7.7 per cent between 2003 and 2014 has the potential

to clock 8% growth in the near future, Planning Commission’s former deputy Chairman

Montek Singh Ahluwalia reportedly said.

The government approved hybrid annuity model for building roads to fast-track highway

projects, revive the Public-Private-Partnership mode and attract more investments in the

sector. Under this model, the government will provide 40% of the project cost to the

developer to start work while the remaining investment has to be made by the developer.

Union Transport Minister, laid the foundation of Mahulia-Baharagora highway in the

copper-township of Moubhandar, about 40 km from Jamshedpur, under Ghatsila sub-

division. The 72-km highway on NH 33 and NH 6 in East Singhbhum bordering West

Bengal will be developed at a cost of Rs9bn.

The Centre issued a fresh coastal regulation zone clearance to the ambitious 22-km

Mumbai Trans Harbour Link project worth Rs113.70bn.

Low crude prices have been of great help to a net oil-importer like India. Brent prices in

INR terms are down 70% from mid-2014 levels. The Indian crude basket, a weighted mix

of various benchmarks, is down by a similar margin.

Controller General of Accounts released the fiscal deficit data for April-December 2015-

16, and it stands at 87.9% of FY16 target. The fiscal deficit stands at Rs 4.88 lakh crore

as against Rs 5.32 lakh cr YoY, and which is slightly higher than the April-November

data released last month which came in at Rs 4.83 lakh crore.

TOP CORPORATE NEWS -

Maruti Suzuki India maintained its leadership position in the domestic passenger

vehicle market in December, with six of its models featuring in the top 10 brands last

month.

ONGC has got environmental clearance for drilling 45 development wells and other

related infrastructure involving a cost of over Rs530bn in the Krishna-Godavari basin in

Andhra Pradesh.

Adani Gas-Indian Oil combine, GAIL Gas, Gujarat Gas and BPCL are among 18

companies that have bid for licence to retail CNG to automobiles in 20 cities like North

Goa and Bhatinda.

Inox Wind Ltd said its arm Inox Wind Infrastructure Services Ltd has acquired

Vinirrmaa Energy Generation Pvt Ltd for an undisclosed amount.

United Spirits has said that its shareholders have voted in favour of the company being

referred to BIFR because of the erosion of its net worth.

Tata Power Ltd announced that it has terminated the share purchase agreement with

Ideal Energy Projects Ltd for the acquisition of a 270-MW coal-based thermal power

project in Maharashtra. In December 2014, the two companies had reached an agreement

for a 100% stake in IEPL. The terms of the agreement required certain conditions to be

met, which could not be reached in the last one year, therefore, the agreement has been

terminated.

Finolex Industries Ltd plans to invest Rs1bn in adding 1,00,000 tonnes of pipes

capacity over the next three years.

Cipla Ltd. announced completion of selling its entire holding in Hong Kong-based

Biomab Holding to Biomab Brilliant for USD2.5mn.

The central transmission utility PowerGrid Corporation of India indicated that its

annual capex for the fiscal 2016-17 will be higher compared to Rs 225bn for 2015-16.

This is largely due to the Centre's plan to pursue transmission projects worth Rs1trillion

to evacuate power from the upcoming coal and hydro and also from renewable projects.

The state-owned Power Grid Corporation of India said it would invest about Rs3.28bn

in ramping up two transmission projects.

Infosys said it has picked up a minority stake in data discovery software firm Waterline

Data Science USD4mn.

Punj Lloyd said its joint venture firm Limak has bagged orders worth Rs27.80bn from

TANAP Dogalgaz Iletim AS in Turkey.

Idea Cellular, India's third-largest telecom operator, launched fourth generation services

in Bangalore and is planning a rapid expansion across Karnataka in cities such as

Mangalore, Udupi-Manipal, Bijapur, Bellary and 18 more towns by the end of this

financial year.

After completing construction of its 15-million tonne crude oil refinery at Paradeep,

Indian Oil Corporation Ltd is now eyeing to fast track its petrochemical complex

coming up at the same location. IOCL is investing Rs340bn on the petrochemical

complex.

Aurobindo Pharma Limited announced it has received final approval from the US Food

and Drug Administration to manufacture and market Voriconazole tablets.

HCL Technologies Ltd announced acquisition of UK's Point to Point Ltd and Point to

Point Products Ltd for Rs780mn.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Insurance sector is likely to attract FDI of over Rs 12,000 crore in 2016 as more than a

dozen foreign companies plan to raise their stake in private sector insurance joint venture

this year, industry body Assocham said on Monday.

Insurance sector is likely to attract FDI of over Rs 12,000 crore in 2016 as more than a

dozen foreign companies plan to raise their stake in private sector insurance joint venture

this year, industry body Assocham said on Monday.

Newest private sector lender IDFC Bank today posted a net profit of Rs 242.16 crore for

the December quarter, and said it will focus on expanding its priority sector lending book.

HDFC Bank today reported a 20.1 per cent rise in the October-December quarter net

profit at Rs 3,358.8 crore on higher core interest income as the second largest private

lender said it is untouched by the regulator's special review on big-ticket bad assets. The

core net interest income rose 24 per cent to Rs 7,068.5 crore in the October-December

quarter, helped by asset growth.

Axis Bank today said it has an exposure of eight per cent in eight large debt-ridden

corporate groups at the end of December 2015. "Our funded exposure to highly

leveraged groups has been stable at around 8 per cent at the end of the third quarter," the

bank said in a filing to BSE.

Yes Bank jumped 10.8% to Rs.747 after the bank recorded a rise of 25% in its net profit

at Rs. 675.7 crore for the quarter ended December 31, 2015 compared with Rs. 540.2

crore for the quarter ended December 31, 2014.

ICICI Bank ended 1.2% lower at Rs.230.10 after the bank reported lower than expected

earnings. The company posted a net profit of Rs. 31223.50 million for the quarter ended

December 31, 2015 as compared to Rs. 32653.20 million for the quarter ended December

31, 2014. Total Income has increased from Rs. 230538.20 million for the quarter ended

December 31, 2014 to Rs. 255851.40 million for the quarter ended December 31, 2015.

United Bank of India slipped 1% to Rs.19.20 after the bank plans to raise equity up to

an aggregate amount of Rs. 500 crore in the first tranche and not exceeding Rs. 1000

Crore in one or more tranches during any financial year by Qualified Institutions

Placement, Public Issue, Rights issue or such other issues as mentioned in the SEBI

circular dated November 30, 2015.

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