TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The BJP Government’s Euphoric win in UP elections has added fuel to the positive

sentiment in the Indian stock market. Market Gave Huge Up Move On Euphoric BJP win. The Indian

Benchmark Index Nifty hits new record high of 9218 on last Friday trading session. The Index opened at 9208,

or 54 points up from its Previous day’s close of 9154. The Index showed profit booking and closed at 9160

after making low of 9148. Although Nifty opened flat note on Monday trading session up by 6 points at 9166

and traded in a very short range of 51 points for the whole day by making a high of 9167 and low of 9116, Yet

underlying sentiment remained supported somewhat after the Union Cabinet approved for GST draft Bills,

which will now be tabled at Parliament’s ongoing budget session. FII’s continuous inflows are supporting

Indian Stock Market and would continue to keep Market bullish in March 2017. The Finance Minister has

announced that GST council decides tentatively for roll out of the GST from 1st July. Although the statement

may be itself not 100% sure of a GST roll out from July. Market sentiment have boosted suddenly and Nifty

broke the barrier of 9105 briefly and closed around that. As of now some consolidation may be seen before

further positive rally but overall market would remain bullish until Nifty holds 9100 levels on closing basis. We

may witness some sharp correction in upcoming week’s due to high valuations and corporate earnings. The

overall market is bullish and the recently bearish is just a correction that may end once the gap filled up. Strong

selling would be only seen after Nifty closes below 8900 levels. The Significance levels for Nifty is 9150-9239

is Up side and 9050-8993 is Down side.

BANK NIFTY : -The banking shares Index Bank Nifty made a New life time high of 21336 on last week and

closed at 21175. The ICICI Bank remained top performer as the stock rose around 3.71%. For Market area of

concern is Indian banking space, specially the Public Sector Banks and some old private banks. Apart from the

ongoing concern about farm loan waiver rhetoric by BJP in UP, analysts are also worried about their tepid loan

growth, which in turn may affect earnings of PSB adversely in the coming quarters. The banks may not be able

to grow at Perpetual 25-30% CAGR years after years and there may be stagnation in the face of growing

competition and lack of sufficient eligible and quality retail borrowers. The Bank Nifty traded volatile on the

last day of its weekly expiry, the Index opened at 20849 and made a low of 20775 and closed at 20895, after

making a high of 20935. There were also some reports that Indian Govt. may allow banks to drain the excess

demo liquidity using standing deposit facility without any SLR requirement and that may be positive for the

banks & Baking shares index Bank Nifty as banks don’t have to buy bonds for incremental requirement of

SLR. Technically , Bank Nifty is still in Positive Territory we may witness the up side movement in the Index.

Once the Bank Nifty closes above 21050 levels, then we may witness Upward movement in the Index. The

Bank Nifty has rallied almost 21% from its low of 17606, made on 23rd Dec 2016, post demonetization and is

currently trading at 21105. It made a record high of 21336 on 17th March 2017. The Significance levels for

Bank Nifty is 21320-21456 is up side and 20960 20840-is Down side..

Monday, 27 March 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

9239 9157 9116 9075 8993

WEEKLY R2 R1 PP S1 S2

9524 9242 9101 8960 8678

MONTHLY R2 R1 PP S1 S2

10038 9384 9057 8730 8076

BANK NIFTY

DAILY R2 R1 PP S1 S2

21806 21324 21083 20842 20360

WEEKLY R2 R1 PP S1 S2

22311 21459 21033 20607 19755

MONTHLY R2 R1 PP S1 S2

23587 21853 20959 20083 18331

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8988 8802 8638 8473

BANK NIFTY 20773 20241 19704 19062

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 9214 8648 8209

BANK NIFTY 20770 19369 17458

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily Chart of Nifty has Applied Bollinger Band as well as

Parabolic SAR both the indicators are indicating bullish rally in the Market from the last week. In

technical terms, there is absolutely no reason to believe that Bull market is ending as series of

Higher Highs and Higher Lows are intact. But going by fundamental data and charts, it's certainly

time to be Extra Cautious while taking long position in the index. The important levels to watch

for next week trading sessions is 9140-9178 is Up side and if it is not able to sustain the 9100

level and break would drag the Nifty towards 8900-8827 level for near Term.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the Above given daily Chart of Bank Nifty has Applied the Bollinger Band

as well as Parabolic SAR. The Bank Nifty Chart is clearly showing up side movement the middle

Band of Bollinger Band indicating Bullish wave in the Market. Time and Price action suggests

that, The Bank Nifty has to sustain over 21100 area for further rally towards 21250-21350. On the

other side, sustaining below 21050 area, Bank Nifty may fall towards 20950-20800 in the next

trading week.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2ACC EQ 1417 1409 1401 1393 1385

ADANI PORTS EQ 330 327 324 321 318

AMBUJACEM EQ 236 233 232 229 228

ASIAN PAINT EQ 1079 1075 1068 1064 1057

AXISBANK EQ 501 495 490 484 479

BAJAJ-AUTO EQ 2900 2876 2855 2831 2810

BANKBARODA EQ 177 173 168 164 159

BPCL EQ 656 653 649 646 642

BHEL EQ 170 169 168 167 166

BHARTIARTL EQ 350 345 342 337 334

BOSCH LTD EQ 23143 23052 22933 22842 22723

BHARTI INFRATEL EQ 315 313 311 309 307

CIPLA EQ 601 597 594 590 587

COALINDIA EQ 303 300 298 295 293

CAIRN INDIA LTD EQ 303 300 298 295 293

DRREDDY EQ 2659 2643 2630 2614 2601

GAIL EQ 386 384 379 377 372

GRASIM EQ 1113 1085 1071 1043 1029

HCLTECH EQ 878 876 873 871 868

HDFC EQ 1477 1469 1460 1452 1443

HDFCBANK EQ 1438 1432 1427 1421 1416

HEROMOTOCO EQ 3406 3390 3365 3349 3324

HINDALCO EQ 199 197 194 192 189

HINDUNILVR EQ 909 904 901 896 893

ICICIBANK EQ 280 277 273 270 266

ITC EQ 286 284 281 279 276

INDUSIND BANK EQ 1414 1399 1390 1375 1366

INFY EQ 1050 1039 1033 1022 1016

IDEA CELLULAR EQ 93 92 91 90 89

KOTAKBANK EQ 895 882 872 859 849

LT EQ 1568 1560 1551 1543 1534

M&M EQ 1293 1283 1277 1267 1261

MRF EQ 59950 59600 59301 58951 58652

MARUTI SUZUKI EQ 6071 6040 6016 5985 5961

ONGC EQ 195 193 192 190 188

NTPC EQ 166 164 164 162 162

RCOM EQ 40 39 38 37 36

RELCAPITAL EQ 619 609 603 593 587

RELIANCE EQ 1305 1295 1281 1271 1257

RELINFRA EQ 586 579 573 566 560

RPOWER EQ 49 49 48 48 47

SBIN EQ 284 279 274 269 264

SSLT( VEDL) EQ 271 268 267 264 263

SUNPHARMA EQ 712 707 703 698 694

TATA MOTORSDVR EQ 285 282 281 278 277

TCS EQ 2486 2457 2440 2411 2394

TATAMOTORS EQ 477 473 470 466 463

TATAPOWER EQ 89 87 87 85 85

TATASTEEL EQ 502 496 494 488 486

UNIONBANK EQ 159 156 154 151 149

YES BANK LIMITED EQ 1552 1541 1532 1521 1512

ZEEL EQ 529 522 519 512 509

TOP 15 ACHIEVERS // TOP 15 LOOSERS

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 IDEA CELLULAR 108 90 - 15.91 %

2 1. AXISBANK LTD.

517 489 - 5.38 % -

53 DR. REDDY'S LABS 2726 2628 - 3.94 %

4 TCS 2525 2427 - 3.90 % -

35 MARUTI SUZUKI 6192 6004 - 3.04 %

6 BAJAJ AUTO LTD. 2912 2843 - 2.39 % -

27 M&M 1303 1275 - 2.15 %

8 TECH MAHINDRA 484 474 - 2.09 % -

29 2. ICICI

BANK 280 274 - 2.08 %

10 BHARTI AIRTEL 346 340 - 1.83 % -

111 TATA STEEL 502 493 - 1.79 %

12 AMBUJA CEM 234 229 - 1.79 % -

113 ULTRATE CEMENT 4039 3973 - 1.63 %

14 ASIANPAINTS LTD. 1079 1064 - 1.41 % -

1

15 TATA MOTORS 476 470 - 1.28 %

SR.NO SCRIPT NAME PREVCLOSE

CMP % CHANGE

1 KOTAK BANK 848 879 + 3.67 %

2 COAL INDIA LIMITED 289 297 + 2.97 %

3 NTPC 159 164 + 2.91 %

4 BANK OF BARODA 164 169 + 2.52 %

5 LUPIN LIMITED 1456 1487 + 2.15 %

6 WIPRO LIMITED 504 513 + 1.78 %

7 GAILINDIA LIMITED. 375 381 + 1.64 %

8 GRASIM INDS. 1041 1058 + 1.62 %

9 YES BANK LTD. 1507 1529 + 1.40 %

10 BHARAT PETRO 642 649 + 1.18 %

11 ONGC 190 191 + 1.00 %

12 HERO MOTOCORP 3346 3375 + 0.87 %

13 SBIN 274 276 + 0.86 %

14 HCL TECH 865 873 + 0.84 %

15 HDFC 1451 1462 + 0.79 %

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

Centre to infuse Rs 8,586 crore capital in 10 weak banks - Contrary to its earlier stand of

infusing fresh capital in strong banks, the central government has decided to infuse fresh capital

totalling Rs. 8,586 crore into 10 weak banks subject to commitment to quarterly milestones by

bank boards, management, employees and unions, said a top leader of All India Bank Employees'

Union. He also said SBI Caps will draw a bank wise action plan based on which a tripartite

agreement between the government, bank management and employee unions will be signed

committing themselves towards certain milestones. "The central government has written to the

heads of 10 banks indicating the amount of fresh capital it would infuse during FY2017. But the

infusion is subject to a tripartite agreement between the central government, banks and the unions

for a time bound turn around programme," C.H. Venkatachalam, General Secretary of AIBEA,

told on Sunday.

Government expects to raise Rs 2,82,212 crore from cess in 2017-18 - An estimated Rs.

2,82,212 crore revenue will be generated through cess and surcharge in 2017-18, Finance

Minister Arun Jaitley said. He said in Lok Sabha that the total revenue generated through cess and

surcharge during 2014-15 was Rs. 1,19,276.65 crore, which increased to Rs. 2,65,661.61 crore in

2016-17. The estimated revenue likely to be generated through cess and surcharge in the financial

year 2017-18 is Rs. 2,82,211.98 crore," he said during Question Hour. The Minister said under the

Income Declaration Scheme 2016, a surcharge under the name of Krishi Kalyana Cess was levied

at the rate of 25 per cent of the tax, that is at the rate of 7.5 per cent of the undisclosed income

declared under the scheme.

Government may table 4 GST bills in Parliament today: Arjun Ram Meghwal - The

government may table four GST supplementary legislations in Parliament today, a union minister

said. "We can do it today as well. A meeting on GST will be chaired by Finance Minister Arun

Jaitley today," Minister of State for Finance Arjun Ram Meghwal said when asked about tabling

of the four GST bills in the Lok Sabha. He was speaking to reporters on the sidelines of an

infrastructure event here. The Cabinet on Monday cleared the four GST related bills to enable roll

out of the Goods and Services Tax from July 1. The four bills are: the Central Goods and Services

Tax Bill 2017, the Integrated Goods and Services Tax Bill 2017, the Union Territory Goods and

Services Tax Bill 2017 and the Goods and Services Tax Compensation to the States Bill 2017.

Consumer loan demand is back and credit quality too is good: Transunion Cibil - Consumer

credit demand is back after post demonetisation hiccups. Good news that credit quality too is

stable, a report by Transunion Cibil notes. After posting almost zero percent growth in

November’16 year-on-year demand or inquiries for consumer or retail loans went up to 25% in

January, a research by credit bureau Transunion Cibil showed. With bank loan growth reaching

multi-decade lows, only segment that is showing perceptible growth us retail loans. Even these

had taken a hit by sudden announcement of a ban on Rs. 500 and Rs. 1000 notes. While an

analysis by credit bureau of the delinquency trends 90 days or more past due in December 2016

shows relatively stable performance overall. While delinquencies in auto loan and credit card

dipped 92 basis points one bps is 0.01% and 14 bps respectively, delinquency rates in two

wheeler and housing loans rose marginally by 11bps and 32 bps respectively.

GST impact on inflation to be less than 20 bps: Nomura - The implementation of Goods and

Services Tax is likely to be fiscally neutral and its impact on inflation is expected to be less than

20 basis points, says a Nomura report. According to the Japanese financial services major, the

GST council is making steady progress and is expected to be implemented in the July-September

quarter this year. Though the impact of GST is likely to be minimal, growth numbers are expected

to get affected in the run up to its implementation. "In the near term, we expect the GST to be

fiscally neutral, the resulting inflation impact to be minimal at less than 20 basis points and the

impact on growth to be marginally negative in the run up to its implementation," Nomura said in

a research note.

RBI recasts norms on currency hedging for MNCs - The RBI today changed norms to provide

operational flexibility to multinational entities and their Indian subsidiaries exposed to currency

risks arising out of current account transactions in the country. The extant hedging guidelines

have been amended to provide operational flexibility for booking derivative contracts to hedge

the currency risk arising out of current account transactions of Indian subsidiaries of

multi-national companies. As per the guidelines, the transactions under the facility will be

covered under a tripartite agreement involving the Indian subsidiary, its non-resident parent /

treasury and the bank. This agreement will include the exact relationship of the Indian subsidiary

or entity with its overseas related entity, relative roles and responsibilities of the parties and the

procedure for the transactions, including settlement," it said.

Cabinet clears abolition of cesses for GST rollout, government to incur Rs 65,000-crore loss

- The Union Cabinet has approved amendments in the Customs and Excise Act relating to

abolition of cesses and surcharges on various goods and services to facilitate implementation of

GST. Following this, the Centre will abolish 16 cesses and surcharges on union excise and service

tax as it lays down the path for rolling out Goods and Services Tax from July. The amendments in

the Customs Act, 1962, allow furnishing of information relating to import or export of goods by

specified persons to enable analysis and detection of cases of under or over-valuation in imports

and exports. Cesses to be abolished include Krishi Kalyan and Swachh Bharat. This would lead to

a loss of about Rs 65,000 crore by the exchequer. To make up for this dent, the government would

have to find resources from the budget. "Amendments or repeal of various provisions of other

Acts which will no longer be relevant consequent on rollout of GST will result in cleansing of the

irrelevant portions from the Statute Book and reduce multiplicity of taxes," an official release said

after the Cabinet meeting chaired by Prime Minister Narendra Modi.

Country's current account deficit widens as services exports and remittances slow down -

Current account deficit moderated during the quarter ended December 2016 despite lower trade

deficit as both services exports on account of demonetisation and remittances by global Indians

also dipped due to global slowdown. As capital flows too slowed down, the overall balance of

payments ended in a moderate deficit of $ 1.2 billion in the latest quarter. Current account deficit,

the excess of India's imports of goods and services over exports in its external sector balance

sheet, expanded to $ 7.9 during October-December, the quarter in which the historic decision to

ban high value Rs 500 and Rs 1000 notes, according to preliminary estimates released by the

Reserve Bank of India. This is marginally higher than the CAD of the same period last years-

October-December'15, when the deficit was $7.1 billion. But as a percentage of GDP, the ratio is

same in both periods at 1.4 % of GDP.

India notifies amended tax treaty with Singapore - The government today notified the amended

India-Singapore tax treaty under which capital gains tax will be levied at source of investments with

effect from April 1. India had amended the tax treaty with Singapore on December 30, 2016, under

which for two years beginning April 1, 2017, capital gains tax will be imposed at 50 per cent of the

prevailing domestic rate. Full rate will apply from April 1, 2019. The revision of tax treaty will help

curb revenue loss, prevent double Non-taxation and streamline the flow of investments, a finance

ministry said, adding that the amended tax treaty has been notified. "In order to provide certainty to

investors, investments in shares made before April 1, 2017, have been grandfathered subject to

fulfillment of conditions in Limitation of Benefits clause as per 2005 Protocol," they added.

✍ TOP ECONOMY NEWS

Indian firms have raised a whopping $ 2.23 billion in February 2017 from overseas market as

disclosed by RBI's data. Last year in February month, through External Commercial Borrowings

Indian companies have raised $1.35 billion.

Arun Jaitley moved the Finance Bill, 2017 for consideration and passage in Lok Sabha. He said

that since it provides for electoral bonds, it required consideration as a Money Bill, which can

only be debated in the lower house. A Finance Bill is ordinarily introduced to empower the

financial proposals of the government for the coming financial year.

The interest cost of the states part of the UDAY scheme has come down by around Rs. 11,989

crore for April-December of 2016-17 over the year-ago period. "As per the information available,

the interest cost of states participating in UDAY has reduced by Rs. 11,989 crore, approximately

for the first nine months of the current financial year compared to the financial year 2015-16,"

Power Minister Piyush Goyal said.

Even as the world economy struggles and many developed countries are trying to alter their

consumption through austerity drive, India could end up as the third largest consumer economy

by 2025 according to a report. Consumption in India is set to triple to $ 4 trillion by 2025 as

rising affluence drives changes in consumer behaviors and spending patterns that have big

implications for companies, Report by Boston Consulting Group.

Finance Minister Arun Jaitley said on Wednesday that the government was hoping to implement

the Goods and Services Tax by July 1 after the enabling Bills get Parliament's nod in the current

budget session. GST is the biggest reform in India. Hopefully, GST will be implemented by July

1. GST Bills will hopefully be cleared in Parliament," Jaitley said.

The government has asked tax authorities to reduce backlog of tax disputes as far as possible

especially before the rollout of the goods and services tax , people in the know said. According to

the government data there are about 2.5 lakh pending cases at commissioner of income tax and

about 90,000 pending cases with the ITAT.

Even as the government pushes ahead with implementing goods and services tax there could be

an unintended implication: increase in the income tax collections, say industry experts. Industry

trackers say that since the GST data will capture the tax paid by all the companies, it could also

be compared with the income tax data of the owners, promoters or beneficiaries of the companies.

The government has stepped up its strategic divestment drive, with premier think tank Niti Aayog

recommending immediate stake sales in 12 central public sector enterprises. Companies identified

in the second round include National Textile Corporation, Fertilisers and Chemicals Travancore ,

Hindustan Antibiotics, Scooters India and Hindustan Fluorocarbons. A senior government official

said.

Action will "definitely" be taken against 9.29 lakh entities who have not responded to the I-T

department's queries over cash deposited by them which did not match their income profile, the

government asserted.

With the passage of the Finance Bill, the Lok Sabha today completed the Budgetary exercise for

2017-18. Amidst walkout by the members of the Congress and the BJD, the Finance Bill with 40

amendments was passed by the House by voice vote. The amendments to the Finance Bill include

a provision to cap legal cash transactions at Rs. 2 lakh from April 1 got approval. The bill had

originally proposed the cap at Rs. 3 lakh. Besides, amendments to the Companies Act, the

Employees Provident Fund Act, Smuggling and Foreign Exchange Act, TRAI Act and

Information Technology Act were passed.

Till date, 26.7 per cent of central taxpayers have migrated to Goods and Services Tax Network in

the Bengal circle. "So far, 26.7 per cent of 88,201 tax payers registered with the Central Excise

and Service Tax have migrated to GSTN," Central Excise chief commissioner R K Sharma said

on the sidelines of a GST awareness programme.

GST holds the potential to make Indian products improve compliance, globally competitive and

contribute to the expansion of the Indian Economy by at least 1% of GDP.

States and the Centre may lose their right to collect indirect taxes after September 15, so the

government is in a hurry to pass the GST laws during the current session of the Parliament.

Finance Minister, Arun Jaitley, stressed on the immediate rollout of the GST. He said,

“government is keen to roll out GST on July 1.”

The country added USD 14.2 billion in foreign exchange reserves on the balance of payment

basis during the first nine months of the outgoing financial year, which is marginally down from

USD 14.6 billion accretion in the year-ago period, the Reserve Bank said.

✍ TOP CORPORATE NEWS -

Titan Company Limited is one of the leading prime multi-brand accessories and watches

makers is planning to increase its sales revenues from 11 million loyalty customer base. Titan is

using IBM Watson Customer Engagement and Cloud-based solutions, which may help Titan to

absorb new customers from the market to its unique line of different products.

Blue Star Limited , Leading AC maker, expects its market share in room air conditioners to

expand by nearly 9 per cent to 12.5 per cent in fiscal 2018. The Mumbai-based company

currently has a market share of 11.5 per cent.

According to a top state official, The Adani group will start their operations on 1600 MW Ultra

mega power project in the month of June. Recently concluded Momentum Jharkhand Investment

Summit where the conglomerate has pledged an investment of Rs. 20,000 crore in several

projects including 1600 MW project.

Public sector enterprise of the Ministry of Mines, Government of India, National Aluminium

Company Limited, abbreviated as NALCO has declared an interim dividend of 56% aggregating

to Rs. 541.22 crore for 2016-17, the highest ever by the company since its inception.

Indian government-owned financial service company, IDBI Bank’s board has approved the

proposal for preferential issue of capital to Government of India and other financial institutions.

The issue size aggregates up to Rs 2500 crore subject to relevant approvals from statutory or

regulatory bodies.

India is in electrification overdrive, with about 30,000 new electricity connections being granted

every week. The Union power ministry is mapping the progress live on a website and is also

measuring changes in lifestyle in the recently electrified villages, collecting largest data of its

kind. NITI Aayog, the Centre’s premier think tank, has advocated that other ministries use this

data for other social welfare schemes.

State-run Power Finance Corporation on Monday said it has sanctioned Rs. 9128 crore

financial assistance to power utilities of Tamil Nadu. A Loan Agreement was signed between PFC

and the Power Utilities of Tamil Nadu to this effect. The company sanctioned a term loan of Rs

5474 crore to Tamil Nadu Generation and Distribution Corporation Limited.

Jubilant Life Sciences said its subsidiary Jubilant Pharma will negotiate a potential acquisition

of a specialty business in the US. The Board of Directors of Jubilant Pharma Limited, a

material wholly-owned subsidiary of the company in Singapore, has approved to negotiate a

potential acquisition of a specialty pharma business in the United States using only internal

accruals," Jubilant Life Sciences said in a Exchange filling.

Coal India Limited is considering producing petroleum oil at its Chatra coal mine in Jharkhand.

Petroleum oil from coal is part of the state-run coal behemoth’s diversification plan and it will

soon invite an expression of interest for it, Coal India chairman Sutirtha Bhattacharya told. The

Chatra mine comes under its subsidiary Central Coalfields.

The government will sign contracts for the 31 small discovered oil and gas fields it had auctioned

in the first bid round in more than six years. State-owned oil firms Indian Oil Company , BPCL

and HPCL had cornered a third of the fields whose award was confirmed by the Cabinet last

month. Contracts with successful bidders will be signed on March 27," a senior official said.

IL&FS is selling its 49% stake in its joint venture with China’s Chongqing Expressway Group,

marking a premature end to its five year-old foray into the booming infrastructure development

business in that country. The proposed sale is estimated to fetch as much as $ 170 million and has

attracted interest from as many as 10 bidders comprising Chinese construction firms and toll road

operators, said people directly aware of the matter.

Glenmark Pharmaceuticals USA has received approval from the United States Food and Drug

Administration for Clobetasol Propionate Ointment, used for treatment of various skin conditions.

"Glenmark Pharmaceuticals Inc, USA has been granted final approval by the USFDA for

Clobetasol Propionate Ointment USP, 0.05 per cent.

IL&FS Engineering and Construction Company has bagged an order worth Rs. 222.7 crore

for rural electrification works from Jharkhand Bijli Vitran Nigam for Sahibganj and Pakur

districts in the state, the company said in a statement Monday.

The order, which was bagged and will be executed by L&T’s subsidiary, L&T Hydrocarbon

Engineering relates to ONGC’s Neelam Re-Development & B173AC projects. It entails building

of one. Larsen & Toubro has bagged an offshore project order worth Rs. 1,656 crore from

state-run ONGC, the engineering major said in a statement.

Bharti Infratel has stated recently that Nettle Infrastructure Investment Ltd., which is a

wholly-owned subsidiary of Bharti Airtel, will obtain 21.63% stake in the company from its

parent firm, Bharti Airtel. It is being expected that the deal may take place on or after March 21,

Nettle will buy almost 40 crore shares of Bharti Infratel at approximated Rs 12,400 crore.

Drug firm Wockhardt Limited has received approval from the US health regulator to market

generic version of Wyeth's Zosyn, used for treating bacterial infections, in the American market.

The application for the product to the US Food and Drug Administration was made by the

company's subsidiary Wockhardt Bio AG, the Mumbai-based company said in a regulatory filing.

Indian real estate, gaming and hospitality corporation, Delta Corp company’s board of directors

approved raising of Rs. 750 core via qualified institutional payments.

Emami Group has partnered with Sheth Corp, and plans to invest Rs. 350 crore to develop a

luxury residential project named ‘Montana’ in Mulund, Mumbai. Sheth Corp and Emami Group's

arm, Emami Infra have formed a Limited Liability Partnership for the project.

Two-wheeler manufacturer TVS Motor is confident that the company will surpass industry

growth estimated at an 8-10% clip in the forthcoming fiscal to cross the 15% market-share mark.

Global steel manufacturing giant, Tata Steel is seeking an opportunity to use the export markets

to transfer an enhanced and more developed product, produced at its Kalinganagar plant which is

situated in Odisha.

Bharti Infratel announced that the company’s board of directors have declared an interim

dividend of Rs 12 per equity share of Rs 10 each for the financial year 2016-17.

India’s leading software service exporter, Tata Consultancy Services has no plans to cut

investment in the United States, and will set up local hiring in its biggest overseas market, it

reported.

India’s largest telecom service provider, Bharti Airtel Limited, announced that it has entered

into a definitive agreement with Tikona Digital Networks for acquiring Tikona’s 4G business in

five telecom circles.

Pharma Major Lupin Limited announced today that it has received final approval for its

Tobramycin Inhalation Solution USP, 300 mg/5 ml from the United States Food and Drug

Administration to market a generic version of Novartis Pharmaceuticals Corporation’s TOBI 300

mg/5 ml.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Bharatiya Mahila Bank will be merged with the country's largest lender State Bank of India

from April 1 to ensure greater banking outreach to women. "It shall come into effect on April 1,

2017.

There were more than 9,100 wilful defaulters who together owed Rs. 91,155 crore to public

sector banks at December-end, Parliament was informed. Banks declare wilful defaulters as per

the norms stipulated by the Reserve Bank of India. There were 9,130 wilful defaulters who owe

Rs. 91,155 crore to public sector banks, Minister of State for Finance Santosh Kumar Gangwar

said.

The Reserve Bank of India has asked all prepaid payment licence holders who mostly issue

mobile wallets to convert their minimum KYC wallet accounts into full KYC account by June 30

of this year. It has also laid out minimum net worth criteria for wallet issuers to Rs. 25 crore from

minimum paid up capital of Rs. 5 crore earlier.

Chennai-based state lender Indian Overseas Bank will get Rs. 1,100 crore as "turnaround-linked

capital" infusion from the government. The bank said it has received a communication from the

Finance Ministry for a capital allocation of Rs. 1,100 crore as part of turnaround linked capital

infusion plan. The government has approved the second tranche of capital infusion in public

sector banks to enhance their capital base.

Benefits from the merger of five associate banks of the State Bank of India into itself, which

will come into effect from April 1, will accrue only from the third quarter of 2017-18 as the initial

two quarters may see some increase in costs, the country's largest lender said.

India’s fourth largest lender, Yes Bank Limited, has announced the launch of an issue of

qualified institutional placement. The issue size stands at USD 650 million with an option to

upsize to USD 750 million.

LEGAL DISCLAIMER

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 the intended recipient only.

This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant

for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or

employees shall not in any way to be responsible for the contents stated herein. Ways2Capital

Equity/Commodities Research expressly disclaims any and all liabilities that may arise from

information, errors or omissions in this connection. This document is not to be considered as an offer

to sell or a solicitation to buy any securities or commodities.

All information, levels & recommendations provided above are given on the basis of technical &

fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability

for errors of opinion. People surfing through the website have right to opt the product services of their

own choices.

Any investment in commodity market bears risk, company will not be liable for any loss done on

these recommendations. These levels do not necessarily indicate future price moment. Company holds

the right to alter the information without any further notice. Any browsing through website means

acceptance of disclaimer.

DISCLOSURE

High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with

companies covered in research report nor is associated in any manner with any issuer of products/

securities, this ensures that there is no actual or potential conflicts of interest. To ensure compliance

with the regulatory body, we have resolved that the company and all its representatives will not make

any trades in the market.

Clients are advised to consider information provided in the report as opinion only & make investment

decision of their own. Clients are also advised to read & understand terms & conditions of services

published on website. No litigations have been filed against the company since the incorporation of

the company.

Disclosure Appendix:

The reports are prepared by analysts who are employed by High Brow Market Research Investment

Advisor Pvt. Ltd. All the views expressed in this report herein accurately reflects personal views

about the subject company or companies & their securities and no part of compensation was, is or will

be directly or indirectly related to the specific recommendations or views contained in this research

report.

Disclosure in terms of Conflict of Interest:

(a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the

subject company and the nature of such financial interest;

(b) High Brow Market Research Pvt. Ltd. or its associates or relatives, have no actual/beneficial

ownership of one percent or more in the securities of the subject company,

(c) High Brow Market Research Pvt. Ltd. or its associate has no other material conflict of interest at

the time of publication of the research report or at the time of public appearance;

Disclosure in terms of Compensation:

High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals

reporting to analysts from owning securities of any company in the analyst's area of coverage.

Analyst compensation: Analysts are salary based permanent employees of High Brow Market

Research Pvt. Ltd.

Disclosure in terms of Public Appearance:

(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from

the subject company in the past twelve months;

(b) The subject company is not now or never a client during twelve months preceding the date of

distribution of the research report.

(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or

employee of the subject company;

(d) High Brow Market Research Pvt. Ltd. has never been engaged in market making activity for the

subject company.