TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The market has kick-started in the Minor weak trend on monday Nifty was down 16.30

points or 0.2 percent at 7745.65. The mixed trend seen in Asian markets.The fall in the Indexes Followed

losses on Wall Street that shed 2 per cent on last Friday after crude oil prices hit their fresh seven-year

lows. Investors also remained disappointed over a likely washout of winter session of Parliament which

Ended on wednesday. "On wednesday market opened strong following positive Asian cues Nifty Open up

62.65 points or 0.8 percent at 7848.75. Asian equity markets followed their Wall Street peers as investors

cheered strong US data, a pause in the greenback's rally and higher oil prices. Going forward, if the Nifty

manages to sustain above the 7900 mark then we may witness a continuation of this move towards 7970-

8050 levels. On the other hand, 7720-7650 are now seen as important support levels, The major resistance

for Nifty is 7920 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 7920-7950 And the Support for Next

week for Nifty is 7850-7795.

BANK NIFTY : - The Bank Nifty open in Minor down trend on Monday trading session at 16593.14. The

Bank Nifty is currently trading at 16811 down by 5.65 point or 0.03 per cent. The Banking stocks has

Performed well in this week and make the new high of this week. The Bank Nifty is seems Strong for Next

week also. It can cross the level of 17000. The Strong Resistance for Bank Nifty is 17039-17395 And the

Banking Nifty Strong support is 16683-16327. If the Bank Nifty able to break the level of 16900 we can

expect the 17000-17300 level For Next week. RBI Governor has said that the high debt is a worry for the

Indian Inc and the Banks also.The All over the Trend of Banking Nifty is on Bullside. So Expectations

from banking Nifty to reach at the 17200 level at the end of Next week Session.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8024 7920 7868 7816 7712

WEEKLY R2 R1 PP S1 S2

8162 7940 7829 7718 7496

MONTHLY R2 R1 PP S1 S2

9092 8256 7838 7420 6584

BANK NIFTY

DAILY R2 R1 PP S1 S2

17395 17039 16861 16683 16327

WEEKLY R2 R1 PP S1 S2

17520 17044 16806 16568 16092

MONTHLY R2 R1 PP S1 S2

20916 18304 16998 15692 13080

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7828 7997 8110 8295

BANK NIFTY 17038 17321 17627 18061

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7915 8346 8533

BANK NIFTY 17395 16061 19814

PATTERN FORMATION ( NIFTY AND BANK NIFTY )

Depiction of Chart - On the Above given weekly chart Applied the 100 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 100-day MA will have a much greater degree of lag than a Less-days MA because it contains prices for the past

100 days. With breaks above and below this moving average considered to be important trading signals.for Buying or Selling. MAs 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 globle market also in Support for Bull movement, The previleg for Nifty50 to give gap-up opening in

next week. So we can expect that if the Nifty is crossing the level of 7870 it can make the high of 7900-7950 for Next Week. Weekly

Support of Nifty Is 7750-7720 And Resistance is 7875-8030.

BANK NIFTY MACD

Details of Chart On the Above given weekly chart of bank Nifty applied 100 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 Bnak 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 can assuming further movement of Bank Nifty The Crucial level for Banking Nifty is

17039-17122 if the Nifty able to meet that target we can Expect the Bank nifty 17300 level near next week. So i am Still bullish on bank

Nifty. The major Resistance for Nifty Is 1683-16568 And the Resistance for BAnking Nifty is 17039-17325.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1351 1348 1346 1342 1337

ALBK EQ 71 71 70 69 69

AMBUJACEM EQ 204 203 202 202 201

ASIAN PAINT EQ 889 880 879 869 859

AXISBANK EQ 458 450 451 447 444

BAJAJ-AUTO EQ 2515 2487 2486 2476 2457

BANKBARODA EQ 162 158 159 157 156

BANKINDIA EQ 233 228 229 227 225

BHEL EQ 176 173 173 172 170

BHARTIARTL EQ 343 338 334 330 325

CIPLA EQ 658 649 648 644 640

COALINDIA EQ 343 331 325 321 319

DLF EQ 118 117 115 113 111

DRREDDY EQ 3069 3046 3025 3002 2981

GAIL EQ 366 363 361 358 356

GRASIM EQ 3770 3752 3732 3714 3694

HCLTECH EQ 871 864 860 853 849

HDFC EQ 1256 1246 1236 1226 1216

HDFCBANK EQ 1082 1078 1073 1070 1065

HEROMOTOCO EQ 2705 2692 2685 2672 2665

HINDALCO EQ 86 86 85 84 83

HINDUNILVR EQ 873 870 866 863 859

ICICIBANK EQ 266 263 261 258 255

ITC EQ 325 324 322 321 319

INDUSIND BANK EQ 954 950 942 938 930

INFY EQ 1112 1106 1098 1092 1084

JINDALSTEL EQ 887 874 862 849 837

KOTAKBANK EQ 707 703 700 696 693

LT EQ 1310 1303 1295 1288 1280

M&M EQ 1278 1265 1259 1246 1240

MRF EQ 39800 39538 39322 39060 38844

MARUTI EQ 4660 4637 4612 4589 4564

ONGC EQ 242 239 236 233 230

ORIENTBANK EQ 140 139 137 135 133

RCOM EQ 89 88 86 85 84

RELCAPITAL EQ 428 422 415 409 402

RELIANCE EQ 1012 1007 1001 996 990

RELINFRA EQ 511 494 478 461 445

RPOWER EQ 56 55 54 52 51

SBIN EQ 233 231 229 227 225

SSLT( VEDL) EQ 93 92 91 90 89

SUNPHARMA EQ 805 799 793 787 781

TATAMOTORS EQ 388 384 381 377 374

TATAPOWER EQ 67 67 66 66 65

TATASTEEL EQ 270 267 264 261 258

UNIONBANK EQ 156 154 152 150 148

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION)

NSE CASH

NATCOPHARM NSE CASH : NATCOPHARM IS IN UPTREND AND LONG POSITION CAN BE

MADE ABOVE 580 FOR TGT AND SL OF 630 AND 560 RESPECTIVELY.

ECLERX NSE CASH : LONG POSITION CAN BE MADE IN ECLERX ABOVE 1482 FOR TGT

AND SL OF 1600 AND 1437 RESPECTIVELY.

ALKEM NSE CASH : ALKEM SHOWED POSITIVE MOMENTUM LAST WEEK. LONG POSITION

CAN BE MADE ABOVE 1520 FOR TGT AND SL OF 1642 AND 1475 RESPECTIVELY.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 MARICO LTD. 432.80 226.15 -47.75 %

2 ECLERX

SERVICES

1811.00 1487.30 -17.87 %

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3 KAVERI SEED CO. 383.85 346.80 -9.65 %

4 ABB INDIA 1187.20 1118.50 -5.79 %

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6 KPIT

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173.60 167.55 -3.49 %

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8 JUBILANT LIFE

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9 BOSCH LTD. 18805.15 18210.0 -3.16 %

10 GUJRAT PIPAVAV

PORT

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12 M&M 1289.05 1255.65 -2.59 %

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SR.NO SCRIPT NAME PREV

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1 PIPAVAV DEFENC

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2 BEMAL LTD. 1090.30 1293.80 +17.70 % 1. B

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4 SREI INFRA. 43.55 50.65 +16.30 % 6. S

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6 BERGER PAINTS 222.95 251.95 +12.83 % B

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8 BHARAT

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14 CAIRN INDIA LTD. 126.70 138.45 +9.27 % C

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15 RELIANCE CAPITAL 388.30 421.10 +8.45 %

MRPL NSE CASH : MRPL IS TREADING IN A RANG AND ON BREAKOUT LONG POSITION

CAN BE MADE ABOVE 66.70 FOR TGT AND SL OF 72 AND 64.70

RPOWER NSE CASH : RPOWER GAINED ABOUT 3% IN LAST TREADING SESSION OF THE

WEEK AND CAN MOVE FURTHER, LONG POSITION CAN BE MADE ABOVE 54.50 FOR TGT

AND SL OF 58.85 AND 52.85.

NSE FUTURE

RCOM FUTURE : RCOM SHOWS BULLISH TREND ON DAILY CHART WE CAN EXPECT

FURTHER UPSIDE MOVEMENT IN RCOM. MADE LONG POSITION IN RCOM ABOVE 87 TGT 92

SL 85

NCC FUTURE: NCC MOVES IN BULLISH TREND. WE CAN MADE LONG POSITION IN IT

ABOVE 78 TGT 84 SL 76.

ZEEL FUTURE : ZEEL SOWS BEARISH TREND ON DAILY CHART WE CAN EXPECT FURTHER

DOWNSIDE MOVEMENT IN IT BELOW 410 TGT 400,SL 416.

WIPRO FUTURE : WIPRO CONSITENTLY MOVES IN DOWNSIDE WE CAN EXPECT FURTHER

DOWNSIDE RALLY IN WIPRO. WE CAN MADE SHORT POSITION IN WIPRO BELOW

555 TGT 540 SL 563.

TV18BRDCST FUTURE : TV18BRDCST SHOWS BULLISH MOVEMENT ON DAILY CHART WE

CAN MADE LONG POSITION IN IT ABOVE 49 TGT 53 SL 48.

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

Government sells PSU shares worth $5 billion in 2015, readies 2016 pipeline -

Government's disinvestment kitty has almost doubled this year with over Rs 35,000 crore

garnered through PSU share sales, but not without the help of its all-time saviour LIC,

while a strong pipeline is ready for 2016 with bluechips like NTPC, Coal India and

ONGC. At a record high of Rs 35,236 crore, the total funds collected by the government

through part-sale of its stake in the 'family silver' PSUs during 2015 marks a huge jump

from about Rs 18,000 raised in the previous year.

Year End Review 2015: Ministry of Commerce & Industry - GDP at factor cost is no

longer relevant in the New Series. As per the international practices, industry-wise

estimates have been presented as Gross Value Added at basic prices, while „GDP at

market prices‟ of old series has been referred as GDP in new series. India‟s growth rate of

the GVA at Basic Price at constant (2011-12) prices in 2014-15 was 7.2 % with growth of

GVA in industry at 4.5 % and in manufacturing at 5.3 %. The sectoral share in GVA at

basic price at constant (2011-12) price of manufacturing sector was 18.1 % in 2014-15.

GDP at constant (2011-12) prices in Q2 of 2015-16 is estimated at Rs. 27.57 lakh crore as

against Rs. 25.66 lakh crore in Q2 of 2014-15, showing a growth rate of 7.4%. Quarterly

GVA at basic prices for Q2 2015-16 from „manufacturing‟ sector grew by 9.3 percent as

compared to growth of 7.9 percent in Q2 2014-15.

Banks need to cut lending rates to spur economic growth - Many people think that

RBI is to be blamed for not doing enough to cut rates and revive economic growth. But

there is difference between cutting policy rates and lending rates. The former is the

responsibility of RBI and latter of the banks. So when RBI has already cut policy rates by

more than 1.2%, it is now upto banks to translate this move by RBI into lending rate cuts

and transmit it to borrowers. But banks have not cut rates in line with RBI. Though new

mathematics of calculating base rates on basis of marginal cost of funds is expected to

benefit new borrowers, there is still a lot more that banks need to do.

FinMin cuts disinvestment target by 57% to Rs. 30,000 crore - The Finance Ministry

has cut its ambitious disinvestment revenue target by 57% to Rs. 30,000 crore for the

current fiscal year. Despite missing targets in the past five years, the Centre had set an

ambitious disinvestment revenue target of Rs. 69,500 crore for FY16. But, strategic stake

sales failed to take off and minority stake sales in PSUs also came to a halt after initial

promise due to volatile markets, according to a financial newspaper. The Centre managed

to mop up INR 12,700 crore in the first half of FY16 by selling stakes in 4 PSUs - the

highest disinvestment in the first half in the past seven years.

optimistic about the real estate sector year in 2016 - We are optimistic and hope the

year 2016 heralds‟ good tidings for the real estate sector. 2015 has been quite eventful

year as compared with the last two years. The government has made all the right moves to

propel its growth. It has initiated a number of polices which when implemented should

hopefully see the sector come out of its slumber and attract huge investments into the

sector going forward. The proposed Development Plan 2034, State Regulatory bill,

relaxed FDI rules, Smart Cities, GST and favourable budget are some key drivers which

have the potential to improve the market sentiments and achieve the government‟s aim of

providing Housing for All 2022.

India will be fastest growing economy over next 10 years: Harvard researchers -

India, with a projected annual growth rate of 7 per cent, has the potential to be the world's

fastest growing economy over the coming decade, surging ahead of its South Asian

economic rival China that will continue to see a slowdown, according to Harvard

researchers. "India has the potential to be the fastest growing economy over the coming

decade... India tops the global list for predicted annual growth rate for the coming decade,

at 7.0 per cent," new growth projections presented by researchers at the Centre for

International Development at Harvard University showed.

Call drop case: Telcos get temporary relief from Delhi HC - Delhi High Court gave a

temporary relief to telecom operators at the hearing of call drops case today. The Telecom

Regulatory Authority of India said that it will not take any coercive action on call drops

till the next hearing on January 6, after the Delhi HC asked the regulator to do so. The

High Court did not put a stay on the compensation regulation formulated by TRAI. Hence

the regulation is likely to be introduced as planned on January 1, 2016. However, Delhi

High Court has refrained the regulator body from taking any coercive action in case of

non-compliance by telcos.

As one of the largest importers, India needs to renegotiate Oil & Gas Import

contracts - For something as critical as crude oil, it‟s a common belief that suppliers have

immense power over customers. But on the contrary and as one of the biggest customers

of crude oil producing countries, India too has a great chance to show its bargaining skills

and renegotiate the terms of oil supply contracts. India's energy demand is all set to

double by 2040. Also it‟s quite evident that even in future, a major part of energy

demands will have to be met by imports. So to ensure that it is neither arm-twisted nor

short changed in future; India should renegotiate its energy contracts taking a long-term

vision.

Cabinet gives approval for investment of Rs. 5,000 crore by ONGC - The Cabinet

Committee on Economic Affairs, chaired by the Prime Minister, has given its approval

for investment of Rs.5,000 crore by Oil and Natural Gas Company Limited into the

equity share capital of ONGC Videsh by conversion of existing loan of equivalent

amount into equity. The approved investment will strengthen the capital base of ONGC

Videsh. It will enhance the ability of ONGC to undertake overseas Exploration and

Production business, thereby improving the energy security of the country.

New base rate policy will actually help banks - While the new base rate norms released

by the Reserve Bank of India were initially seen as a big hit for the banks, as they are

going to tie the hands of the banks and force them to transmit and money policy changes

faster, on hindsight it emerges that the new guidelines will actually reduce pressure on the

banks‟ net interest margins. As per the new RBI guidelines, domestic lenders will have to

gradually adopt the marginal cost of funds lending rate to price their loans. The key

components of MCLR include marginal cost of funds, negative carry on the cash reserve

ratio, operating costs and tenure premium. The new policy will apply to all new loans

advanced after April 1, 2016 and not apply to the existing loans. Plus, banks will have a

tenure-based benchmark instead of a single base rate.

Government tables Bankruptcy Bill in Lok Sabha - The Finance Minister of India

Arun Jaitley has introduced the bankruptcy bill in Lok Sabha. The bill aims to wind up

sick companies in 180 days or earlier in some cases. The Insolvency and Bankruptcy

Code, 2015 was introduced in Lok Sabha by the Finance Minister Arun Jaitley to replace

the current Bankruptcy law. Under the current Bankruptcy law, it takes years to revive or

liquidate an ailing company. The proposed Bill will make it easier to wind up bankrupt

companies within a fixed time frame and is in line with global practices. The bill was

introduced as Money Bill in Lok Sabha as it limits the role of Rajya Sabha in the passage

of the Bill. Money Bills cannot be defeated in Rajya Sabha, where Bills such as goods

and service tax did not find approval due to want of majority.

NPA of large borrowers hurting banking system: RBI - The Reserve Bank of India on

Wednesday expressed concern about the debt servicing capability of large borrowers,

saying that it was affecting the health of the banking sector. In its Financial Stability

Report released on Wednesday, the RBI stated that there has been a sharp increase in the

large borrowers' share of gross NPAs in the total gross NPAs to 87.4% in September from

78.2% in March. "This is a major concern to the lending institutions and other

stakeholders," according to the central bank.

Reliance Defence, United Shipbuilding sign Rs. 66,000 cr pact - Reliance Defence has

entered into a strategic partnership with Russia‟s United Shipbuilding Corporation and

Rosoboronexport with an aim to get US$10 billion worth of business in manufacturing,

refitting and modernisation of surface vessels for the Indian Navy, reports a financial

newspaper. The agreement has a time horizon of 15 years and focuses on modernisation

and refitment of all Russian origin surface warships of the Indian Navy at Reliance‟s

newly acquired facility in Pipavav, according to the business daily.

Data Shows Decline in Foreign Investment: Net foreign investment declined to USD

0.1 billion in 2QFY16 from USD 7.8 billion in 1QFY16. While net foreign direct

investment declined to USD 6.6 billion in 2QFY16 from USD7.5 billion 1QFY16,

foreign portfolio investments witnessed a net outflow of USD 6.4billion in 2QFY16

compared with a net inflow of USD 9.8billion in 2QFY15. Despite dismal performance

of FDI/ FII in 2QFY16, Ind-Ra expects both FDI and FII to perform better. Portfolio

investments are expected to return post reallocation in early 2016 as India‟s macro

fundamentals and growth prospects are better. Also, the focus on „Make in India‟ will

create longer and more stable opportunities for FDI.

SBI raises Rs. 4,000 crore - India's largest bank, State Bank of India, has said it has

raised Rs 4,000 crore by issuing tier-II bonds on private placement basis under the Basel-

III norms. The bank has announced that in terms of Regulation 30 (2) of the SEBI

Regulations, 2015, the Bank on December 23, 2015 has issued 40,000, Basel III

compliant, Tier-ll bonds in the nature of debentures, of face value of Rs.10,00,000/- each

at par, with 10 year tenure, bearing 8.33% p.a. coupon and with call option after 5 years,

aggregating to Rs.4000 crores on private placement basis.

Rajan calls for close monitoring of accounts of financial institutions - Reserve Bank

of India governor Raghuram Rajan has flagged concerns over rising level of bad loans in

Indian banks, according to reports. Rajan stated that weak corporates with lower debt-

servicing capacity may worsen the situation. The Reserve Bank of India expressed

concern about the debt servicing capability of large borrowers, saying that it was

affecting the health of the banking sector. In its Financial Stability Report released on

Wednesday, the RBI stated that there has been a sharp increase in the large borrowers'

share of gross NPAs in the total gross NPAs to 87.4% in September from 78.2% in

March.

TOP ECONOMY NEWS

Policy Bytes: Niti Aayog initiatives, FDI proposals Cleared - NITI Aayog will soon

come out with policy papers on key sectors like agriculture, infrastructure, energy,

manufacturing and social development. The Health Insurance TPA of India Ltd. formed

by public sector non-life insurance companies to manage their health claims, is all set to

go live. The Finance Ministry is actively pursuing with SEBI, the case for raising the

single foreign investment limit in a stock exchange from 5% to 15%. For the forthcoming

budget, the departments of direct and indirect tax will operate under a single financial

authority – Department of Revenue.

Growth rate will touch the 8% mark soon: Arvind Panagariya - NITI Aayog vice-

chairman Arvind Panagariya said that growth rate will touch the 8% mark soon. India will

rank even better in ease of doing business once new changes are taken into account,

Arvind Panagariya was quoted as saying. Panagariya reported that states have a more

„equal‟ relationship with NITI Aayog as compared to the Planning Commission.

Indian economy will more than double to $5 trillion in 10 years: Jayant Sinha -

Minister of State for Finance Jayant Sinha reportedly said that the size of the Indian

economy will more than double to USD 5 trillion if 7% growth rate is sustained for next

10 years, "If we grow at 7%, we will double our economy in a decade. We are going to go

from US$ 2 trillion economy to USD 4 trillion economy, if the rupee strengthens," Sinha

was quoted as saying. He added that the government will meet the fiscal deficit target for

current as well as for the next fiscal.

WTI threatened by higher US oil rig count - Oil concluded last week heavily depressed

closing under $36 following the Friday report from oil services company, Baker Hughes

Inc. showing that the oil rig count climbed for the first time in five weeks. Sentiment

towards WTI Oil received a heavy blow as this latest increase in oil rig counts, combined

with the consistent rise in crude oil inventories have led to intensifying concerns over the

aggressive oversupply in the markets. Investor attraction towards this commodity has

rapidly faded, and with Iraq‟s oil Minister Adel Abdul-Mahdi reiterating that OPEC will

stick to its decision of maintaining a policy of uncapped production levels, prices may

remain vulnerable and open to further losses.

IIP increased by 4.8% during April-October, 2015-16 - The rate of industrial growth

measured in terms of Index of Industrial Production increased by 4.8 per cent during

April-October, 2015-16 as compared to the growth of 2.2 per cent during the same period

of previous year i.e. 2014-15. All the three industrial sectors viz. mining, manufacturing

and electricity have registered positive growth of 2.0 %, 5.1 % and 5.2 % respectively,

during April-October, 2015-16.

Remove additional tax in GST: Rangarajan - The proposed 1% additional tax on inter-

state sales is against the spirit of Goods and Services Tax and that should not be

implemented, former RBI Governor C Rangarajan reportedly said. "I think GST is a good

measure. Certainly that 1% tax, that was contemplated, goes against the spirit of GST, "C

Rangarajan was saying. Finance Minister Arun Jaitley had hinted at accepting Congress'

stand on scrapping 1 per cent additional tax.

FIPB approves 9 FDI Proposals worth Rs. 1,200 crore - FIPB on Monday approved 9

FDI proposals worth Rs. 1,200 crore, according to reports. FIPB has deferred Holcim,

HSBC Sec's. FIPB approved proposals of Cadila Healthcare.

2015 round up: Weaker rupee hits fund raising via ECB - The amount of fund raised

by the companies via external commercial borrowing has found on a back-seat due to

weakening of Indian rupee against the US dollar. Also, global uncertainity coupled with

average domestic growth in CY2015 made it more difficult for the domestic companies to

raise funds via ECB. In CY2015, till October 2015, total 633 Indian companies have

raised US$ 21.422 billion through ECB, according to the data available with the Reserve

Bank of India. In CY2014, total 737 companies had raised US$ 30.501 billion via ECB,

through automatic as well as approval route.

Q2FY15-16 current account deficit stands at $8.2 bn - India‟s current account deficit

stood at US$ 8.2 billion 1.6 per cent of GDP in Q2 of 2015-16 was lower than US$ 10.9

billion 2.2 per cent of GDP in Q2 of 2014-15 but increased from US$ 6.1 billion 1.2 per

cent of GDP in the preceding quarter, according to RBI. RBI data says that the

contraction in CAD was primarily on account of lower trade deficit US$ 37.4 billion as

compared with US$ 39.7 billion in Q2 of last year though it was higher than the level in

the preceding quarter US$ 34.2 billion.

Mid-year review is signals govt going easy on deficit management - The government's

mid-year economic review released last week captured some interesting trends of the

broader economy. First of all, the review clearly states that the engines of growth are not

really firing on all cylinders. While two key components -- public expenditure and private

consumption -- are said to be working well for the economy, a major slowdown in

exports and also lack of private investment have been big drags on growth. Incidentally,

these are areas that the government has been focusing on all along.

Bankruptcy code referred to Joint Select Committee of Parliament - The Insolvency

and Bankruptcy Code 2015 would be referred to a „Joint Select Committee of

Parliament‟, the Finance Minister Arun Jaitley said.

CAD data shows delicate balance on external trade front - India's current account

deficit widened to $8.2 billion or 1.6 per cent of GDP in the second quarter of the

financial year from $ 6.2 billion reported for the first quarter of the financial year. While

the number was lower on a year-on-year basis -- it was $10.9 billion in the second

quarter of last financial year -- the trade deficit ballooned to $ 37.4 billion from $34.2

billion quarter on quarter and $39.7 billion year on year.

MoS Finance says expects GST & Bankruptcy Code Bill to be passed in Budget

Session - The Minister for State for Finance, Jayant Sinha is expecting GST &

Bankruptcy Code Bill to be passed in Budget Session. Jayant Sinha added that

Bankruptcy as Money Bill was intended to speed up its passage. Minister for State for

Finance says it is very hard to predict GST rollout time. We hope to have over 2000 PPP

Projects in Next few years from current 1,300, says Jayant Sinha.

The Odisha state government formally opened the process for e-auction of mineral

assets - The Odisha state government formally opened the process for e-auction of

mineral assets with the offering of Ghorhaburhani-Sagasahi iron ore block with

geological reserve of 99.59mn tonne. The block is at G2 exploration stage and located in

Koira sector in Sundargarh district

TOP CORPORATE NEWS -

Sun Pharmaceuticals Industries Limited - Sun Pharma has received a warning letter

from USFDA relating to its facility in Halol in Gujarat. The letter was a result of the

inspection done by the US Food and Drug Administration at Halol plant in September

2014.

Reliance Jio - Reliance Jio Infocomm will start its 4G service on December 27, but only

for group employees. The commercial operations are widely expected to commence in

April-May, 2016.

Tata Power Company Limited - Tata Power's subsidiary, Maithon Power Ltd, has

commenced 150 MW supply to Kerala with immediate effect.

Cipla Limited - Cipla announced the launch of generic version of anti-hepatitis drug

Ledipasvir-Sofosbuvir in the domestic market. The drug is used for treating hepatitis C

virus.

Reliance Communication Ltd. - Reliance Communications has sold about 150

residential flats in Navi Mumbai for Rs3.3bn. RCom has already received more than 50%

of the sale proceeds and the balance amount will be realized in the next 2-3 months.

SpiceJet - SpiceJet has, for the seventh consecutive month, reported a seat factor of

above 90% in November. As against this, rival IndiGo recorded a seat factor of 83.9% in

November while Air India saw its seat factor increasing to 81.7% as compared with

74.6% in October.

Strides Arcolab Ltd. - Drug firm Strides Shasun has received approval from the Drug

Controller General of India to produce a generic version of Gilead's 'Sovaldi' used for

treatment of Hepatitis C.

Raymond Ltd. - Devendra Fadnavis handed over an “offer letter” allocating 500 acres of

land in Amravati district to Raymond Group for setting up a Rs15bn textile unit in

Vidarbha.

Jindal Steel And Power Ltd. - Jindal Steel and Power will resume mining coal from two

of its stalled projects in Australia as it expects to get regulatory clearances from Canberra

soon. The firm had to suspend operations at its Russell Vale Colliery in September

because of regulatory issues. Wongawilli Colliery was shut for maintenance in August

but it now needs government approvals to restart mining.

GAIL India Ltd. - GAIL has extended last date of bidding for its $7bn tender for hiring

nine newly built ships for ferrying LNG from the US by over two months to allow Indian

shipyards to tie up technology for building the specialized vessels. Bids for charter hiring

of nine ships quoted in three lots of three ships each were due last week but have now

been extended till February 29, 2016.

Tata Steel Ltd. - Tata Steel is in talks to sell its struggling British-based unit to

investment firm Greybull Capital, the two firms said in a statement.

Ultratech Cement Ltd. - The limestone mine allotted to the UltraTech Cement in

Chhattisgarh's Raipur district had come under the scanner as the state government

announced to cancel the No-Objection-Certificate granted to the company required to

commission the mining operation, due to environmental issues.

Aurobindo Pharma Ltd. - Aurobindo Pharma has received approval from the US health

regulator for generic Olopatadine Hydrochloride ophthalmic solution used for treatment

of seasonal allergic conjunctivitis and is ready to launch the product in the American

market.

Glenmark Pharmaceuticals Ltd. - Glenmark Pharmaceuticals has received the final nod

from the US health regulator for a generic version of anti-bacterial drug Zyvox.

Reliance Communication Ltd. - Telecom service provider Reliance Communications on

Tuesday announced that it is holding exclusive talks with with shareholders of telecom

operator Aircel for a potential merger of their Indian wireless business of RCom and

Aircel.

Ultratech Cement Ltd. - The limestone mine allotted to the UltraTech Cement in

Chhattisgarh's Raipur district had come under the scanner as the state government

announced to cancel the No-Objection-Certificate granted to the company required to

commission the mining operation, due to environmental issues.

Somany Ceramics Limited - Somany Ceramics has raised Rs1.2bn (at an issue price of

Rs339.5 per share) through the QIP route.

Idea Cellular Limited - Idea announced the launch of 4G LTE services in all five

telecom service areas of South India - namely Telegana, Andhra Pradesh, Karnataka,

Kerala and Tamil Nadu - on Wednesday. In the first phase, 4G will be available across 75

towns in the five southern states.

Wipro Limited - Wipro has signed a definite agreement to acquire New Jersey-based

back office services provider Viteos Group for a consideration of $130 million.

Piramal Enterprises Limited - Piramal Enterprises has acquired five healthcare brands

from Merck Sharp & Dohme for Rs 920 million as a part of its strategy to grow its OTC

business. This is Piramal Enterprises's second acquisition in the OTC segment in a month.

Lupin Ltd. - Lupin has received final approval from the US health regulator to market

Potassium Chloride extended release capsules, used to treat potassium deficiency in the

body, in the American market.

Natco Pharma Ltd. - Natco Pharma Limited and its US partner Allergan announced the

settlement of their pending litigation with Celgene regarding generic Lenalidomide, an

oral cancer drug used in the treatment of multiple myeloma.

Larsen & Toubro Limited - Larsen & Toubro has bagged orders worth Rs11.78bn

across various segments so far this month, the company said in a filing to the BSE.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

IDBI Bank plans to sell 20% stake in life insurance JV - IDBI Bank is planning to sell

20% stake in life insurance joint venture for Rs. 800 crore, according to reports. Report

says that the process to sell stake is expected to start in January. The promoters holding in

the Bank stood at 76.5 % while Institutions and Non-Institutions held 13.88 % and 9.63

% respectively. The stock traded below its 50 DMA.

Banks to raise provisioning for another bank’s NPAs - One bank will have to pay for a

sticky loan of another bank if they have lent to the same company. A new rule, that is

believed to be underway, will force a bank to take a knock on earnings even if the

corporate borrower is paying on time but is blacklisted as 'non-performing asset' by any

other lender. The proposal which was recently discussed between senior bankers and

regulatory officials may impact earnings of many banks as they provide more on loans

that are standard and well-behaved on their books but are irregular and NPA with some

other bank.

Tax-free bonds and select debt mutual funds see big demand; banks lose Rs 40,000

cr net in a fortnight - Falling rates appear to be prompting a shift from traditional bank

term deposits to alternative investment avenues including taxfree bonds and select mutual

fund debt schemes.Depositors have pulled out a net Rs 40,000 crore from banks since the

fortnight ended October 2, which began immediately after the Reserve Bank of India

lowered its policy rates by 50 basis points. A basis point is 0.01%.

Canara Bank to raise up to Rs.2,400 crore - The Board of the Bank has permitted the

Bank to raise additional capital of Rs. 2,400 crore through issue of BASEL-III compliant

Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond

Committee of the Bank to support the asset growth during 2015-16 & also to maintain

healthy level of CRAR. The Bank received ratings of "IND AAA"; Outlook Stable from

India Ratings & Research Private Limited for the proposed issue of the said Bonds.

RBI discussion paper on peer-to-peer lending soon - Reserve Bank of India deputy

governor R Gandhi said on Monday that the central bank was actively studying the peer-

to-peer lending arrangements and would soon come out with a discussion paper. The

deputy governor aid while innovations are mandatory, it is important to be conscious of

risks arriving from such innovations. Gandhi was speaking at the first summit of non-

banking financial companies, organised by the Confederation of Indian Industry.

New RBI norm for rate calculation credit positive: Moody’s -The Reserve Bank‟s

new uniform methodology for calculating base rate on marginal cost of funds is „credit

positive‟ for Indian banks as it would ease pressure on their balance sheet, Moody‟s

said.“The new guidelines will reduce pressure on the banks‟ net interest margins , a credit

positive,” Moody‟s Investors Service said in a statement.

State Bank Of India - State Bank of India said it plans to raise up to Rs120bn by issuing

tier-II bonds on private placement basis.

No deadline for resolving complaints by Banking Ombudsman: RBI - There is no

time limit for resolution of complaints under Banking Ombudsman scheme, aimed at

seeking redressal of customers' common complaints against banks, the Reserve Bank of

India has said. "Over 9,500 such complaints were pending against various banks," it said.

This Document has been prepared by Ways2Capital (A Division of High Brow Market

Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained

herein are based on Ways2Capital Equity/Commodities Research assessment and have

been obtained from sources believed to be reliable. This document is meant for the use of

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