TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Nifty is continued in the negative trend from the beginning of

this week.. The 50-share index is opened on Monday at 7489. The latest trade figures out

of China eased some concerns over the health of the world's second-biggest economy.

China has a major adjustment problem, Oil prices dropped continuance after China posted

surprisingly Exports for the month fell 11.2 percent on year, compared to analyst

estimates of a 1.9 percent drop. Overseas investors are disappoint from the Indian stock

markets - on global growth worries and decline in oil prices. Economic data from China,

showing its manufacturing sector contracted at its fastest pace in almost three-and-a-half

years in January, However Asian shares started a new week on somewhat firmer footing,

helped by expecting better GDP growth rate of India. The crucial level for Nifty down

side is 6800 – 6980 and Upside is 7120 -7180. if the Nifty manages to sustain above the

7150 mark then we may witness a continuation of this move towards 7200 -7280 levels.

On the other hand, 6920-6800 are now seen as important Support levels, The major

resistance for Nifty is 7200 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.

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

15206 up by 44 points or 0.6 per cent. The Bank Nifty is currently trading at 14425 up by

442 point or 3.17 per cent. Bank shares have remained a pain point for the stock market

over the past one year – set by NPA issues and weak credit demand –State-run banks like

SBI, Bank of Baroda, Central Bank of India, apprise PM Narendra Modi of rising bad

loans, capital requirements of state-run banks and the impact of bad loans on their

profitability were discussed. We are expecting the positive movement for Bank Nifty

in upcoming weeks. The Support for Bank Nifty Is 14320-13800 and Resistance

is 14600-15020.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

7470 7135 6966 6798 6462

WEEKLY R2 R1 PP S1 S2

9107 7789 7130 6471 5153

MONTHLY R2 R1 PP S1 S2

9347 7885 7154 7426 4961

BANK NIFTY

DAILY R2 R1 PP S1 S2

15044 14328 13970 13612 12896

WEEKLY R2 R1 PP S1 S2

19178 15982 14384 12786 9590

MONTHLY R2 R1 PP S1 S2

19828 16242 14449 12656 9070

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7360 7590 7805 8040

BANK NIFTY 14067 14150 14450 14765

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7485 7795 8310

BANK NIFTY 15250 17065 19230

PATTERN FORMATION ( NIFTY )

Detail of Chart -

On the On the Above given weekly chart of Nifty applied Bollinger Band along with Parabolic SAR. And the

Bollinger Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level

it has given the Gap up opening which is indicating the Bull movement for the Nifty the crucial Support for Nifty is

6800-6980 and the Resistance for Nifty is 7200-7280, if the Nifty is able to break the level of 7200 we may witness

the level of 7350 for next week.

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On the Above given weekly chart of Bank Nifty applied Bollinger Band along with Parabolic SAR. And the

Bollinger Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level

it has reverse on Bull side on the other hand on the creating dot Upside which is the signal for worry about the Bank

Nifty , however the Bank Nifty crucial Support is 13800 and the Resistance is 14500. if the Bank nifty is crossing

the 14000 level we may witness the 14500 level.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1292 1279 1253 1240 1215

ALBK EQ 47 45 43 42 40AMBUJACEM EQ 201 200 197 196 193ASIAN PAINT EQ 876 870 865 859 855AXISBANK EQ 425 418 407 400 389BAJAJ-AUTO EQ 2357 2342 2329 2314 2301BANKBARODA EQ 147 141 129 123 112BANKINDIA EQ 96 93 90 88 84BHEL EQ 111 108 105 103 99BHARTIARTL EQ 334 327 322 314 309CIPLA EQ 546 542 535 531 524COALINDIA EQ 323 319 313 309 302DLF EQ 93 90 86 84 80DRREDDY EQ 2920 2899 2875 2854 2830GAIL EQ 341 337 331 328 322GRASIM EQ 3589 3544 3464 3420 3340HCLTECH EQ 843 832 821 810 799HDFC EQ 1112 1103 1092 1083 1073HDFCBANK EQ 994 986 980 972 966HEROMOTOCO EQ 2559 2533 2513 2488 2468HINDALCO EQ 67 66 64 63 61HINDUNILVR EQ 830 823 815 808 799ICICIBANK EQ 206 203 198 196 191ITC EQ 307 305 303 301 299INDUSIND EQ 854 839 832 825 818INFY EQ 1106 1099 1093 1086 1079JINDALSTEL EQ 64 62 59 57 54KOTAKBANK EQ 644 639 631 626 618LT EQ 1185 1139 1124 1094 1079M&M EQ 1244 1227 1195 1178 1145MRF EQ 33478 33159 32729 32410 31980MARUTI EQ 3696 3676 3640 3620 3584ONGC EQ 201 199 197 195 192ORIENTBANK EQ 93 91 87 85 82RCOM EQ 53.50 53 52.25 51.85 51.15RELCAPITAL EQ 347 343 335 330 322RELIANCE EQ 953 945 931 924 910RELINFRA EQ 440 433 421 415 403RPOWER EQ 46 45 44 43 42SBIN EQ 171 168 163 160 155SSLT( VEDL) EQ 73 72 69 67 64SUNPHARMA EQ 876 870 861 855 846TATAMOTORS EQ 329 317 313 305 301TATAPOWER EQ 59 58 57 56 55TATASTEEL EQ 256 247 234 225 212UNIONBANK EQ 128.25 125.15 119.25 116.25 110.35

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION)

NSE CASH

1. SUNPHARMA NSE CASH : BUY SUNPHARMA NSE CASH ABOVE 870 TGT 935 SL 840.

2. SRINFRA NSE CASH : BUY SREINFRA NSE CASH ABOVE 53 TGT 58 SL 51

3. GMRINFRA NSE CASH : BUY GMRINFRA NSE CASH ABOVE 12 TGT 13 SL 11.60.

4. GODFRYPHLP NSE CASH : BUY GODFRYPHLP NSE CASH ABOVE 1040 TGT 1135 SL

995.

5. SUVEN NSE CASH : BUY SUVEN NSE CASH ABOVE 185 TGT 200 SL 179.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 SHIPPING CORPN. 80.30 60.20 -25.03 %

2 WOCKHARDT LTD. 1021.85 804.30 -21.29 %

3 JUST DIAL 575 453 -21.14 %

4 COX & KINGS LTD 204.85 166.40 -18.77 %

5 BHEL 129.55 106.10 -18.10 %

6 ALOK INDUSTRIES L

4.94 4.10 -17.00 %

7 PUNJAB NATIONAL B

90.95 77.60 -14.68 %

8 DELTA CORP LTD 68.15 58.20 -14.64 %

9 B F UTILITIES LTD. 500 427 -14.54 %

10 SOBHA 290.40 249.65 -14.03 %

11 VOLTAS LTD. 273.75 237.25 -13.50 %

12 DENA BANK 33.35 28.95 -13.19 %

13 UNITECH LTD. 4.93 4.29 -12.98 %

14 ONGC 220.10 196.60 -10.68 %

15 CENTRAL BANK 60.15 54.05 -10.14 %

SR.NO SCRIPT NAME PREV CLOSE

CMP % CHANGE

1 APOLLO TYRES 140.85 155.80 +10.61 %

2 BANK OF BARODA 122.95 135.62 +10.33 %

3 LUPIN LTD. 1652 1822 +10.32 %

4 EICHER MOTORS 16940 18579 +9.68 %

5 BHARTI INFRA 355.90 389 +9.33 %

6 IDEA CELLULAR 100 108 +8.35 %

7 NMDC LTD 81 87 +7.58 %

8 AXIS BANK LTD. 382 407 +6.52 %

9 EXIDE INDUSTRIES 121 129 +6.29 %

10 CEAT LTD. 891 944 +5.86 %

11 BHARTI AIRTEL 304 321 +5.45 %

12 TATA STEEL 226 237 +5.13 %

13 PIRAMAL ENTERP. 925 972 +5.13 %

14 JET AIRWAYS 529 556 +5.07 %

15 ADANI POWER LTD 25.20 26.45 +4.96 %

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

Demand slowdown! Higher OPEC output only partly offsets non-OPEC decline :-

Having peaked, at a five-year high of 1.6 million barrels per day in 2015, global oil

demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down

by notable slowdowns in Europe, China and the United States, the newly released IEA

Oil Market Report for February informs subscribers. Early elements of the projected

slowdown surfaced in the last quarter of 2015. Global oil supply dropped 0.2 mb/d to

96.5 mb/d in January, as higher OPEC output only partly offset lower non-OPEC

production. Non-OPEC supplies slipped 0.5 mb/d from a month earlier to stand close to

levels of a year ago. For 2016 as a whole, non-OPEC output is expected to decline by 0.6

mb/d, to 57.1 mb/d.

Economy to grow at 7.9% in fiscal 2017 - Indeed, 2016 has begun on an ominous note.

Both the International Monetary Fund and the World Bank have pared their global growth

outlook for the year amid increasing signs of debility in the emerging markets. And once

again, China has emerged as the epicentre of global risk and volatility. For India, such a

predicament cuts both ways. While a slowing world implies prices of crude oil and the

commodity complex will remain battered, which will bolster the fiscal math, sluggishness

in global demand will prolong the agony for exporters. That means the trigger for growth

in fiscal 2017 will come from within - or the domestic economy - and, as in the current

fiscal, another dose of good luck through low crude oil prices will be handy.

NBCC bags contracts worth Rs.2,525 crore in Jan - National Buildings Construction

Corporation Ltd ended at Rs. 949.45, up by Rs. 7.45 or 0.79% from its previous closing

of Rs. 942 on the BSE. The company has bagged business worth around Rs. 2,525.86

crore in the last month.

The scrip opened at Rs. 938.6 and touched a high and low of Rs. 958.8 and Rs. 938.6

respectively. A total of 131870 shares were traded on the counter. The current market cap

of the company is Rs. 11393.4 crore. The BSE group 'B' stock of face value Rs. 10

touched a 52 week high of Rs. 1214.5 on 06-Aug-2015 and a 52 week low of Rs. 682.6

on 09-Feb-2015. Last one week high and low of the scrip stood at Rs. 982.6 and Rs.

918.05 respectively.

RBI releases report on Introduction of Interest Rate Options - The Reserve Bank of

India today released the Report of the Working Group on Introduction of Interest Rate

Options in India. The key recommendations of the Group are, To begin with, simple call

and put Options, caps, floors, collars and swaptions may be permitted. Complex

structures may be introduced subsequently. Both OTC as well as exchange traded options

may be introduced. While in the OTC segment only European options may be permitted,

both American and European structures may be permitted on Exchanges. Fixed Income

Money Market and Derivatives Association of India/Financial Benchmark India Private

Limited may come out with the list of eligible domestic money or debt market rates as

benchmarks like G-Sec, T-Bills, MIBOR,OIS, MIFOR, IRF etc.

GDP growth continues ahead of expectations..Q3FY16 GDP at 7.3% - Real GDP or

Gross Domestic Product at constant prices in the year 2015-16 is likely to attain a level

of RS. 113.51 lakh crore, as against the First Revised Estimate of GDP for the year 2014-

15 of Rs. 105.52 lakh crore, released on 29th January 2016. The growth in GDP during

2015-16 is estimated at 7.6% as compared to the growth rate of 7.2 per cent in 2014-15.

Real GVA, GVA at basic constant prices is anticipated to increase from `97.27 lakh crore

in 2014-15 to `104.38 lakh crore in 2015-16. Anticipated growth of real GVA at basic

prices in 2015-16 is 7.3 per cent against 7.1 per cent in 2014-15.

Real Estate's demands from the Union Budget 2016 - Real estate stakeholders in

every Indian city are looking forward to the upcoming financial budget 2016 to see

whether it will provide any relief to the sector. Developers have their own expectations,

because positive announcements for real estate buyers made during the budget will help

increase the market sentiment, and therefore sales. The general hope is that the budget

will provide cheer to intending home buyers who have been deterred for various reasons.

The Union Budget should make the rate of interest specific to home loans more

reasonable. Currently, the banks are offering interest rates which are still too high. Paying

so much interest has serious implications on the family budgets of most middle-class

wage earners. It is not surprising that many of them currently shy away from home loans.

1. Pune-based startup EPPS Infotech wants to change the market dynamics. -

Small and medium enterprises normally have limited access to advanced

technologies, such as enterprise resource planning. They are sandwiched between

using either a modestly developed ERP solution offered by domestic players or

premium priced solutions offered by global multinationals. However, Pune-based

startup EPPS Infotech wants to change the market dynamics. It has launched an

innovative mobile ERP platform to cater to the largely unaddressed SME sector.

2. Raghuram Rajan set to discuss liquidity issue with bankers - Reserve Bank of

India governor Raghuram Rajan and his colleagues will discuss liquidity issue with

bankers on Tuesday, according to reports. Report says that the meeting will examine

why yields on other securities are out of sync with the repo or policy rate. RBI stated

that banks should manage their positions better and the central bank's job is to ensure

overnight rates are close to the policy rate, says report.

Liquidity crunch could indicate reviving economy: Credit Suisse - The liquidity

shortage in the money market could be an early indicator of a reviving economy as

month-on-month credit growth have started to track historic trends as 15 months of below

trend growth, Credit Suisse analysts Neelkanth Mishra, Prateek Singh and Ravi Shankar

said in a note on Tuesday.

India's GDP numbers are reliable: Kaushik Basu - India's GDP numbers are very

dependable and there is no "rigging" taking place with regards to data, World Bank's

Chief Economist Kaushik Basu reportedly said. Former Chief Economic Advisor

reported that a small slippage in the government's fiscal deficit target would be fine in the

current economic scenario. "Given the transparency, you have reason to have enough

confidence in the growth figures," Kaushik Basu said.

Make in India week is an opportunity to take stock of how we have performed: PM -

Prime Minister, Narendra Modi was addressing at the inauguration of the Make in India

Week, in Mumbai on February 13, 2016. When I look back at the launch of the Make in

India initiative over a year ago, I also recall the aspirations of our youth. 65 per cent of

the population of India is under the age of 35. This youthful energy is our greatest

strength. We launched the Make in India campaign to create employment and self-

employment opportunities for our youth. We are working aggressively towards making

India a Global Manufacturing Hub. We want the share of manufacturing in our GDP to

go up to 25 per cent in the near future.

Contraction! December IIP falls 1.3% YoY - The IIP for the month of December 2015

stands at 183.4, which is 1.3 percent lower as compared to the level in the month of

December 2014. The cumulative growth for the period April-December 2015 over the

corresponding period of the previous year stands at 3.1 percent. The Indices of Industrial

Production for the Mining, Manufacturing and Electricity sectors for the month of

December 2015 stand at 137.5, 192.0 and 183.2 respectively, with the corresponding

growth rates of 2.9 percent, (-) 2.4 percent and 3.2 percent as compared to December

2014 (Statement I). The cumulative growth in three sectors during April-December 2015

over the corresponding period of 2014 has been 2.3 percent, 3.1 percent and 4.5 percent

respectively.

China exports fall 11.2% in January, imports down 18.8% - China's exports fell 11.2

percent on-year in January, while imports declined 18.8 percent, clocking far bigger

slides than expected by analysts. Analysts polled by Reuters had expected a 1.9 percent

drop in January exports, and a 0.8 percent drop in imports. China's trade surplus came in

at USD 63.3 billion in January, against analysts' expectations of a USD 58.85 billion

surplus. In December, China's exports fell 1.4 percent from a year earlier, while imports

slid 7.6 percent.

Make in India: Arun Jaitley says more banking reforms soon - Finance minister Arun

Jaitley reportedly said he will shortly announce a "series of banking reforms" without

elaborating. Jaitley added the government is gradually moving in the direction of reforms

and a market-oriented economy. Arun Jaitley was speaking at the Make in India week in

Mumbai on Sunday. The Narendra Modi government is seeking to push ahead with

economic reforms, says report.

Budget 2016 to pivot around reforms and rural uplift; to focus on relieving rural

stress - The government is working on a two-pronged Budget that will further structural

reform to lift growth while putting in place a package that will seek to address rural stress

through broader social security measures and changes in agricultural policy. The Budget,

which will be presented by Finance Minister Arun Jaitley on February 29, will also focus

on credit issues and greater access to equity funds. "The Budget is going to provide a

momentum to the market side of the economy and also focus on the pro-poor side of the

economy," said a senior finance ministry official, outlining the twin thrust areas.

TOP ECONOMY NEWS

GDP estimates released for the year 2015-16 indicate that economy is firmly holding on

to the recovery course. Reform measures taken over the past 18 months have put the

economy on the growth trajectory. The improvement expected in the agriculture and

manufacturing sectors in the current fiscal is encouraging. Some moderation has been

reported in the other key sectors of the economy and we do hope to see a turnaround in

near future. However, the monthly IIP data which is an indicator of industrial

performance remains volatile, which is a matter of concern”, said Dr. A Didar Singh,

Secretary General, FICCI.

The December quarter GDP data has a message: the growth in the economy is very

nascent, and any letup at this stage can erase all the gains we have achieved so far.

The government on Monday forecast annual economic growth to accelerate to 7.6% in

FY16 after India's economy grew 7.3% in the quarter to end-December.

Maharashtra government intends to increase the tariff for families consuming over 300

units of electricity per month.

The Telecom Regulatory Authority of India said that tariff for data services cannot vary

on the basis of the website/ application/ platform/ or type of content being accessed.

India and the United Arab Emirates will be signing a civil nuclear cooperation agreement

during the visit of Crown Prince of Abu Dhabi and Deputy Supreme Commander of the

UAE Armed Forces Mohammed bin Zayed Al Nahyan to India.

It’s now very clear that when current government came to power in 2014, it atleast

improved the investor sentiments overnight. But the structural problems ailing the

economy are not that easy to solve. Infact, it might take more than few years and billions

of dollars to make, even a small positive change in the economy.

India’s commercial capital is geared up for Make in India Week, a flagship event to

provide greater momentum to the Make in India initiative, to showcase to the world the

achievements of the nation in its manufacturing sector and to promote India as preferred

manufacturing destination globally. Set against the vibrant backdrop of Mumbai, this

week long calendar would offer unprecedented access, insights and opportunities to

connect and collaborate with India and global industry leaders, visionaries, academicians,

central and state administrations.

Governments and business leaders across the world are facing the challenge of rising

geopolitical uncertainty and a more connected – yet in many ways more divergent –

world. And to meet these challenges, the public sector needs to redefine its purpose,

collaborate with business to build the foundations of growth, and measure success in

smarter ways.

RBI allowed banks to qualify 10% of SLR bonds as Liquidity Coverage Ratio from 7%

earlier, a requirement mandated under the Basel-III accounting norms from their SLR

requirements. The move will help banks to use an additional Rs2.8tn of their resources

for lending.

Life insurance companies will be required to mandatorily issue an electronic insurance

policy for any individual who takes a sum assured of Rs1mn and above, or pays annual

premium of Rs10,000 and above in life insurance.

Sharing RBI’s plan of having clear and fully provisioned balance sheets of banks by

March 2017, Dr Raghuram Rajan, Governor, RBI stated that the growth in Indian

banking sector will not emerge to the full extent unless the clean-up of bank balance

sheets is effectively completed.

The Centre’s tax revenue had touched Rs10.66 trillion by January 31 or 73.5% of the full-

year target.

IRDA chairman T S Vijayan said the caps and commissions and remunerations being

given to insurance brokers will remain. However, the upper limit can be determined after

taking the feedback from various stake holders.

India and Australia agreed on enhancing cooperation in clean coal technology, renewable

power and LNG in a bid to meet the burgeoning demand for cheap and environment-

friendly energy in one of the fastest growing emerging economies.

Railways joined hands with the Chhattisgarh government for laying of 762 km-long rail

line in the state as part of the rail infrastructure development plan. The MoU envisages

formation of a joint venture company with the state for execution of rail projects. The JV

companies will have 51% stake of the state government and 49% of Railways.

India has completed most of the consultation process related with the WTO trade

facilitation agreement and the government expects to ratify it soon.

Appearance of the Fed chairperson before this Committee last July, the economy has

made further progress toward the Federal Reserve's objective of maximum employment.

And while inflation is expected to remain low in the near term, in part because of the

further declines in energy prices, the Federal Open Market Committee expects that

inflation will rise to its 2 percent objective over the medium term.

The Union Minister for Finance & Corporate Affairs and Information & Broadcasting

Arun Jaitley said that India has great strengths to be amongst leading nations in a

technology driven forth industrial revolution that is expected to come about now. He was

speaking after inaugurating a two day seminar titled-ART of convergence in New Delhi

today.

TOP CORPORATE NEWS -

Wipro Ltd has won an IT infrastructure transformation contract from the Sweden

headquartered ASSA ABLOY Group. Under the five-year agreement, Wipro will

consolidate ASSA ABLOY’s existing data centres in the EMEA region and implement a

cloud-based service model.

Strides Shasun Ltd has acquired controlling stakes in Kenya's Universal Corporation

and Australia-based Generic Partners Holdings in a bid to strengthen its business in these

regions.

Cognizant reported 17% growth in revenue during the quarter ended December 31, 2015

at $3.23 billion as compared to $2.74 billion, a year ago.

Dr Reddy's Laboratories said its US subsidiary Promius Pharma has received USFDA

approval to market Sernivo spray, used in treatment of skin disorder.

Suzlon Group announced the completion of type testing and certification of its S111

turbine for 50 Hz and 60 Hz variants, which acknowledges its conformity with the set

norms.

Essar Power, which runs a greenfield 135MW multi-fuel power plant at Hazira in

Gujarat is set to expand the capacity to 270MW by adding second unit of 135MW by July

this year.

SRF Ltd plans to invest around $58 million to set up a Greenfield BOPET plant at

Indore, Madhya Pradesh. The proposed investment will be backed by International

Finance Corporation. The proposed facility is set to have a capacity of 30,000 TPA and a

metallization capacity of 8,000 TPA.

GMR Kamalanga Energy, a subsidiary of GMR Infrastructure Ltd, has secured a

favourable order from CERC on tariff revision related to supply of 300MW under a

power purchase agreement with Haryana discoms, from the 1050MW coal-based power

plant at Kamalanga in Dhenkanal in Odisha.

Axis Bank Ltd plans to raise $500mn through Tier-II capital bonds to shore up its capital

base.

Raymond is planning to raise Rs1bn from the market through private placement basis.

The board of the company will meet on February 9 to consider the proposal, Raymond

informed BSE.

Coal India Ltd inked a memorandum of understanding to acquire a 50% stake in

IndianOil’s bulk explosives business. Explosives are used in open cast mines, which

contribute nearly 93% of CIL’s annual production.

Sun Edison has successfully commissioned 146MW DC of solar power plants in Tamil

Nadu, Andhra Pradesh and Telangana. The company plans to develop more than

1,500MW of solar and wind energy power plants in India over the next 18 months.

Royal Enfield is planning to enter Brazil as part of its plan to strengthen its presence in

overseas markets. Siddhartha Lal, CEO and managing director of Eicher Ltd, said Royal

Enfield is looking at Latin America and South East Asia regions for its growth in

international markets.

Coal India will this month conduct special auction to offer coal to distressed power

producers as the government gears up to provide round-the- clock electricity to all.

ITC LTD is looking to invest Rs 8 billion in Odisha over the next few years to set up a

hotel property and a food processing park in the state.

Ceat Ltd. will invest Rs 3bn to set up a manufacturing facility in Maharashtra to

primarily serve export market for off-road radial tyres.

Ashok Leyland is scouting for a local partner for establishing assembly units in Africa

with an estimated investment of Rs 300 mn each.

Tata Steel Ltd has plans to invest about Rs 20-25 billionfor development of

infrastructure at Gopalpur in Odisha in the near term.

Tata Motors is working on reducing the engine size for its diesel vehicles to circumvent

the sales ban imposed in Delhi-NCR.

Sun TV Network in a regulatory filing has announced that the committee appointed to

look into option of share buyback has recommended not to pursue the option for the time

being.

Schneider Electric has showcased its technological expertise and unveiled several new

products, concepts and some of their existing products for Indian market at ELECRAMA

2016.

Sun Pharma and Merck Sharp & Dohme’s , wholly-owned subsidiaries, have mutually

decided to “wind down” their joint venture due to changes in the strategic priorities of

both the parent companies.

Tata Power Ltd through its joint venture company Industrial Energy Ltd has

synchronized the second 67.5 MW unit of its 202.50-MW Kalinganagar project.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

A whopping Rs 1.14 lakh crore of bad loans have been written off by 27 Public Sector

Banks during FY 2012-15, with the last fiscal alone witnessing a steep 53 per cent rise in

write-offs as part of the balance sheet clean-up.

City-headquartered Bandhan Bank, which began commercial operations last year, is

targeting growth on the deposit as well as credit front by at least 30 per cent by 2017-end,

a top official said here.

Reserve Bank of India governor Raghuram Rajan and his deputies will meet bankers on

Tuesday to discuss the prevailing liquidity situation and whether the central bank needs to

relook its liquidity management, said two bankers on condition of anonymity.

The story of Uday Kotak and Kotak Mahindra Bank Ltd, now India’s fourth largest

private-sector lender by assets, goes back to just a few years before India liberalized its

economy. It was in 1985 that Kotak started its journey in financial services with a bill-

discounting business launched under the brand name Kotak Mahindra Finance Ltd. The

business soon expanded into areas such as auto finance even before liberalization of the

economy opened up a new world for private-sector financiers in the country.

United Bank of India ended at Rs. 19.3, up by Rs. 0.5 or 2.66% from its previous

closing of Rs. 18.8 on the BSE. The bank received approval for raising Additional Tier -

1 capital under BASEL-III norms up to Rs. 1,000 crore through issuance of Perpetual

Debt Instruments in the form of subordinated, non-convertible, non-cumulative, listed,

Basel-Ill compliant Additional Tier1 Bonds in the form of Debenture/ Promissory Notes

of the face value of Rs. 10 lacs each on private placement basis for inclusion in the

Additional Tier1 Capital of the Bank for the purpose of ascertaining the capital adequacy

ratios.

Country's second largest state run lender, Punjab National Bank will now explore to

monetise its real estate through a sale and lease model. The move comes as higher

provisions and an increase in slippages plummeted PNB's net profit for the December

quarter by 94.31 per cent to Rs 51.01 crore as against the same period last fiscal.

Indian Overseas Bank has taken a late leap towards internet-enabled banking and data

analytics by implementing Infosys Finacle's latest rack of software executed by American

technology company HPE.

The net non-performing assets of state-owned banks — gross NPAs less provisions —

at Rs 1.74 lakh crore at the end of September 2015 is equal to almost a third of their total

net worth. In other words, if banks have to fully provide for all their bad debts, it would

wipe out 33 per cent of their paid-up capital plus reserves and surplus.

Bandhan Bank on Tuesday announced the launch of an international debit card in

association with Visa. It has also begun banking services for overseas Indians.

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