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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 79708050 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

7920

7868

7816

7712

R2

R1

PP

S1

S2

8162

7940

7829

7718

7496

R2

R1

PP

S1

S2

9092

8256

7838

7420

6584

8024

WEEKLY

MONTHLY

BANK NIFTY
DAILY

R2

R1

PP

S1

S2

17039

16861

16683

16327

R2

R1

PP

S1

S2

17520

17044

16806

16568

16092

R2

R1

PP

S1

S2

20916

18304

16998

15692

13080

17395

WEEKLY

MONTHLY

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
ALBK

EQ
EQ

1351
71

1348
71

1346
70

1342
69

1337
69

AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ-AUTO
BANKBARODA
BANKINDIA
BHEL
BHARTIARTL
CIPLA
COALINDIA
DLF
DRREDDY
GAIL
GRASIM
HCLTECH
HDFC
HDFCBANK
HEROMOTOCO
HINDALCO
HINDUNILVR
ICICIBANK
ITC
INDUSIND BANK
INFY
JINDALSTEL
KOTAKBANK
LT
M&M
MRF
MARUTI
ONGC
ORIENTBANK
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK

EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ

204
889
458
2515
162
233
176
343
658
343
118
3069
366
3770
871
1256
1082
2705
86
873
266
325
954
1112
887
707
1310
1278
39800
4660
242
140
89
428
1012
511
56
233
93
805
388
67
270
156

203
880
450
2487
158
228
173
338
649
331
117
3046
363
3752
864
1246
1078
2692
86
870
263
324
950
1106
874
703
1303
1265
39538
4637
239
139
88
422
1007
494
55
231
92
799
384
67
267
154

202
879
451
2486
159
229
173
334
648
325
115
3025
361
3732
860
1236
1073
2685
85
866
261
322
942
1098
862
700
1295
1259
39322
4612
236
137
86
415
1001
478
54
229
91
793
381
66
264
152

202
869
447
2476
157
227
172
330
644
321
113
3002
358
3714
853
1226
1070
2672
84
863
258
321
938
1092
849
696
1288
1246
39060
4589
233
135
85
409
996
461
52
227
90
787
377
66
261
150

201
859
444
2457
156
225
170
325
640
319
111
2981
356
3694
849
1216
1065
2665
83
859
255
319
930
1084
837
693
1280
1240
38844
4564
230
133
84
402
990
445
51
225
89
781
374
65
258
148

TOP 15 ACHIEVERS

SR.NO

SCRIPT NAME

PREV
CLOSE

CMP

//

% CHANGE

PIPAVAV
DEFENC 65.55
&OF
BEMAL LTD.
1090.30

ESSAR OIL LTD.

217.95

256.00

+17.46 %

SREI INFRA.

43.55

50.65

+16.30 %

RELIANCE INFRA

423.20

493.05

+16.51 %

BERGER PAINTS

222.95

251.95

+12.83 %

ARVIND LTD.

301.15

337.95

+12.22 %

BHARAT

1177.10

1316.80

+11.87 %

ELECTRONIC
B F UTILITIES LTD.

603.85

669.05

+10.80 %

10

TRENT LTD.

1523.20

1687.10

+10.76 %

11

CENTURY TEXTILES 544.90

598.90

+9.91 %

12

BHARTI AIRTEL

308.40

338.75

+9.84 %

13

DCB BANK

75.60

82.95

+ 9.72 %

14

CAIRN INDIA LTD.

126.70

138.45

+9.27 %

15

RELIANCE CAPITAL 388.30

421.10

+8.45 %

100.25

+52.94 %

1293.80

+17.70 %

SR.NO

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TOP 15 LOOSERS

SCRIPT NAME

MARICO LTD.

PREV CLOSE

432.80

CMP

% CHANGE

226.15
-47.75 %

BECLERX
B B
1811.00
SERVICES
KAVERI SEED CO. 383.85

1487.30

SABB
S INDIA
S

1187.20

1118.50

JUST DIAL

916.60

864.00

KPIT
TECHNOLOGIES
TITAN CO.

173.60

167.55

363.40

351.45

JUBILANT LIFE
SCIENC
BOSCH LTD.

427.90

414.50

18805.15

18210.0

-17.87 %
346.80
-9.65 %
-5.79 %
-5.55 %
-3.49 %
-3.29 %
-3.13 %
-3.16 %

GUJRAT PIPAVAV 150.40


PORT
EMEMI LTD.
1004.85

146.00

M&M

1255.65

-2.93 %
975.65
-2.91 %

1289.05

-2.59 %
JK LAKSHMI
335.45
CEMENT
NIIT
597.90
TECHNOLOGIES
RAJESH EXPORT 681.60

329.50
-1.77 %
588.85
676.00

-1.51 %
-0.82 %

LTD.

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION)

NSE CASH

L L

T T

D D

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.

E11- E11- E11- E11- E11


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S S S S S

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. Indias 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 governments 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, its 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 its 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 Russias 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 Reliances
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 Indias 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 BaselIII 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 debtservicing 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 vicechairman 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 Iraqs 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 interstate 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 $8.2 bn - Indias current account deficit
stood at US$ 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 banks 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 peerto-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 nonbanking financial companies, organised by the Confederation of Indian Industry.
New RBI norm for rate calculation credit positive: Moodys -The Reserve Banks
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, Moodys
said.The new guidelines will reduce pressure on the banks net interest margins , a credit
positive, Moodys 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.

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