TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Equity benchmark Nifty 50 open in a Positive note on Monday up by

100 points or 1.17 per cent at 8533. Last week Indian benchmark Index Nifty fell 2.10

Percent. The Index opened at 8639 and closed at 8458 after making a low of 8425.

Selling pressure was due to uncertainty over the potential outcome of U.S. Presidential

election which kept investors nervous going into the weekend. Moreover the new GST

structure was not able to create any positive impact on the markets. The movement in this

week was greatly affected by the US Presidential Election. Indian benchmark Index

witnessed a roller coaster ride on Wednesday, as Nifty opened gap down on twin news of

Trump victory and Indian government's decision to ban Rs.500 and Rs.1000 notes. Sharp

buying was witnessed after a gap down opening. Market made a low of 8076 before

recovering sharply. Nifty made fresh intra day highs boosted by the broader markets and

banking stocks, discounting all negativities of a Trump victory and the Indian currency

apprehensions. FII data which came in after markets hours saw a selling of Rs.2100 cr

even though they were buyers in F&O segment. The markets are showing strength at

lower levels but will have to sustain this week above 8550 for the next target of 8800 to

be achieved. The main concern may be EM meltdown in currencies and continuous

devaluation of China Yuan for the Market for next week. The Nifty is expected to trade in

the range of 8485-8645 levels. The Significance levels for Nifty is 8444-8578 Upside and

8360-8320 is down side.

BANK NIFTY : - The Bank Nifty open in a positive note on Monday up by 259 points or

1.34 per cent at 19317. The Banking Sector stocks trade in a positive notes in this week.

Demonetisation of Rs. 500 and Rs. 1000 notes boosted banking stocks since lenders

expect huge cash deposits from people affected by the Modi government's surprise move.

Bank stocks may be in focus for next week trading sessions after good run as RBI

announced some SA4 restructuring measures, which may be positive for banks, but may

also be largely discounted considering the time & price action. Bank Nifty may open

around 20120 area for next week, has to sustain above 20060 zone. otherwise it may

further fall towards 19850-19400 zone for the next week. For any strength after huge gap

down opening, Bank Nifty has to sustain above 20160 area for 20280-20350 zone in the

event of a clear US election results. The Bank Nifty is Expected to trade in the range of

19720-20891. The Significance levels for Bank Nifty is 20160-20451 is Upside and

19720-19571 is Down side.

Monday, 14 November 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8813 8515 8366 8217 7919

WEEKLY R2 R1 PP S1 S2

9496 8619 8312 7720 6536

MONTHLY R2 R1 PP S1 S2

10323 8997 8334 7671 6345

BANK NIFTY

DAILY R2 R1 PP S1 S2

21670 20508 19927 19346 18184

WEEKLY R2 R1 PP S1 S2

25718 21522 19424 17326 13130

MONTHLY R2 R1 PP S1 S2

25748 21522 19424 17326 13130

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8579 8614 8517 8327

BANK NIFTY 19510 19417 18944 18267

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 8002 8847 767

BANK NIFTY 18143 18824 15629

PATTERN FORMATION ( NIFTY )

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

along with Parabolic SAR both the indicators are Leading Indicators, and gives signal of

Buying or Selling. Although the Uses of Bollinger Band differ from traders to traders

Some buy when it break the Middle Band from below side and some buy when it break

Upper Band. We assume that the Breaking the Middle Band Usually a Bull side Signal as

we can see on the above given chart it has touch the middle Band. But it was not able to

break the Significance Resistance level of 8650. and give Gap Down opening below its

Lower Band. From this ;level we may see some correction in Nifty for the Upcoming

week. Nifty may reverse to fill the up side Gap of 8500-8680. The Significance Levels for

Nifty is 8530-8580 is up side and 8400-8360 is down side.

PATTERN FORMATION ( BANK NIFTY )

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

Bollinger Band along with Parabolic SAR. Both are the leading Indicators and give

Signal on Breakout of Upper or Lower Band. On the Above given chart of Bank Nifty it

has touch the Upper band but not able to break the Resistance level of 19980. From this

level we are Expecting the Bank Nifty may go Up side further to the level of 20260 for

Next week. The Significance levels for Bank Nifty is 19920-20542 Up side and 19300-

18900 is Down Side.

NSE EQUITY DAILY LEVELS

COMPANY

NAME

R2 R1 PP S1 S2

ACC EQ 1468 1432 1411 1375 1354

ALBK EQ 301 289 280 268 259

AMBUJACEM EQ 233 226 222 215 211

ASIAN PAINT EQ 1020 989 974 943 928

AXISBANK EQ 521 509 501 489 481

BAJAJ-AUTO EQ 2819 2736 2684 2601 2549

BANKBARODA EQ 173 166 163 156 153

BANKINDIA EQ 674 661 648 635 622

BHEL EQ 144 140 138 134 132

BHARTIARTL EQ 311 301 298 295 293

CIPLA EQ 21432 20767 20335 19670 19238

COALINDIA EQ 388 375 369 356 350

DLF EQ 571 559 552 540 533

DRREDDY EQ 338 333 329 326 322

GAIL EQ 263 260 257 253 246

GRASIM EQ 3337 3303 3265 3231 3193

HCLTECH EQ 460 451 440 431 420

HDFC EQ 935 916 903 884 871

HDFCBANK EQ 809 788 771 750 733

HEROMOTOCO EQ 1326 1310 1301 1298 1286

HINDALCO EQ 1292 1285 1275 1268 1258

HINDUNILVR EQ 3191 3086 3025 2920 2859

ICICIBANK EQ 175 173 171 169 167

ITC EQ 824 815 807 798 790

INDUSIND BANK EQ 302 290 282 270 262

INFY EQ 251 246 244 239 237

JINDALSTEL EQ 1245 1220 1204 1179 1163

KOTAKBANK EQ 955 938 928 911 901

LT EQ 74 73 72 71 70

M&M EQ 834 825 816 807 798

MRF EQ 1417 1402 1394 1379 1371

MARUTI EQ 1350 1296 1264 1210 1178

ONGC EQ 53999 53295 52652 51948 51305

ORIENTBANK EQ 5360 5240 5171 5051 4982

RCOM EQ 280 277 275 272 270

RELCAPITAL EQ 156 154 152 150 148

RELIANCE EQ 44 43 42 41 40

RELINFRA EQ 502 484 475 457 448

RPOWER EQ 1025 1012 1003 990 981

SBIN EQ 508 500 492 484 476

SSLT( VEDL) EQ 44 43 42 41 40

SUNPHARMA EQ 295 284 277 266 295

TATAMOTORS EQ 236 232 228 224 220

TATAPOWER EQ 721 705 693 677 665

TATASTEEL EQ 344 332 325 320

UNIONBANK EQ EQ 2179 2149 2118 2088

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )

NSE FUTURE

NSE FUTURE : SELL MARUTI FUTURE BELOW 5100 TGT 5000 SL 5150

NSE FUTURE : SELL CEATLTD FUTURE BELOW 1290 TGT 1240 SL 1310

NSE FUTURE : BUY HINDALCO FUTURE ABOVE 179 TGT 185 SL 176

NSE CASH

NSE CASH : BUY AXISBANK NSE CASH ABOVE 483 TGT 515 SL 468.

NSE CASH : BUY HINDUNILVR NSE CASH ABOVE 870 TGT 930 SL 845.

NSE CASH : BUY ONGC NSE CASH ABOVE 272 TGT 292 SL 264.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 MARUTI SUZUKI 5704 5134 -10.00 %

2 TCS 2330 2101 -9.87 %

3 M&M 1372 1240 -9.63 %

4 HERO MOTOCORP 3287 2975 -9.51 %

5 AMBUJA CEM 240 219 -8.84 %

6 HDFC 1386 1268 -8.50 %

7 ASIAN PAINTS 1043 962 -7.74 %

8 ACC 1490 1400 -6.01 %

9 BAJAJ AUTO LTD. 2814 2647 -5.92 %

10 ULTRATECH CEM 3854 3634 -5.72 %

11 HUL 848 801 -5.45 %

12 INFOSYS 971 921 -5.09 %

13 ZEEL 506 482 -4.74 %

14 HCL TECH 794 764 -3.86 %

15 ADANI PORTS 287 276 -3.81 %

SR.NO SCRIPT NAME PREV CLOSE

CMP % CHANGE

1 SWAN ENERGY 126 134+5.99 %

2INDIABULLS REA 67 71 +5.89 %

3 SUN PHARMA 666 688+3.27 %

4SIEMENS LTD. 1091 1116 +2.43 %

5 JUST DIAL 396 404+2.07 %

6LT FOODS LTD. 256 261 +1.97 %

7 POLARIS CONSUL 161 163+1.24 %

8UNITED BANK 22.45 22.70 +1.11 %

9 GUJRAT INDUS 104 105.50+1.00 %

10PERSISTENT SYST 633 640 +0.98 %

11 ABB INDIA 1062 1070+0.82 %

12UCO BANK 36 37 +0.54 %

13 CYIENT LTD. 456 458+0.34 %

14PFIZER LTD. 1799 1805 +0.34 %

15 VEDANTA 229.30 229.80+0.22 %

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

Fund raising via debt surges 60% to Rs. 70,395 crore in October - India Inc raised a

staggering Rs. 70,395 crore in October through private placement of corporate debt

bonds, a surge of 60 per cent from the year-ago period. In debt private placement, firms

issue debt securities or bonds to institutional investors to raise capital. According to the

data available with Securities and Exchange Board of India , companies garnered a total

of Rs. 70,395 crore from debt on a private placement basis last month, much higher than

Rs. 43,931 crore raised in October 2015. In terms of numbers, 275 issues have been made

last month 2016 as compared to 214 in the year-ago period. The funds have been raised

for business expansion plans, to support working capital requirements and for repayment

of debt. With the latest mobilisation, the total fund raising through private placement of

debt securities reached Rs. 3.81 lakh crore in the current financial year.

India Nikkei Manufacturing PMI at 22-month high in October - Supported by

stronger contributions from three of its five sub-components – new orders, output and

stocks of purchases – the Nikkei India Manufacturing Purchasing Managers’ Index

climbed to a 22-month peak in October, rising from 52.1 in September to 54.4, the latest

reading was indicative of a robust improvement in manufacturing business conditions that

was in line with the long-run series average. Once again, consumer goods producers

outperformed their intermediate and investment goods counterparts, registering stronger

rates of expansion for both output and new orders. In October, output increased for the

tenth straight month and at the quickest rate in nearly four years. Survey respondents

attributed the latest rise in production to strong growth of new orders. The amount of new

work received by manufacturers grew markedly during October, with anecdotal evidence

linking the latest rise to improved underlying demand. In fact, the rate of expansion was

at a 22-month high. Data indicated that although foreign orders contributed to the upturn

in total new work, the rate of growth in new business from abroad eased to a three-month

low. Outstanding business rose again during the latest survey period. The overall rate of

accumulation was solid and the quickest in almost three years, with survey members

reporting capacity pressures. In spite of this, businesses left employment unchanged.

S&P affirms 'BBB-/A-3' rating on India with stable outlook - The global ratings

agency Standard & Poor's affirmed its BBB- /A-3 ratings on India, citing the ongoing

policymaking continues to strengthen growth prospects and fiscal performance, as per

media report. The agency said stable outlook balances India’s sound external position and

inclusive policy making against low per capita income and weak public finances. The

government has been hoping for a rating upgrade following its reform measures such as

passage of the Insolvency Code and Constitution Amendment Bill for GST by

Parliament. "The outlook indicates that we do not expect to change our rating on India

this year or next, based on our current set of forecasts," S&P said. "The ratings on India

reflect the country's sound external profile and improved monetary credibility. India's

strong democratic institutions and a free press, which promote policy stability and

predictability, also underpin the ratings," added further.

India's gross-value added growth to hit 7.6 per cent this year: DBS - India's gross-

value added growth is expected to quicken to 7.6 per cent this year from 7.2 per cent in

2015-16, driven by sustained support from public capex spending, says a DBS report.

According to the global financial services major, while private sector activity remains

subdued, high frequency fiscal numbers point to sustained support from public capex

spending. "We expect gross-value added growth to quicken to 7.6 per cent year-on-year

this year from 7.2 per cent in FY15/16," DBS said in a research note.

According to DBS, after an upside surprise from China, India manufacturing PMIs also

jumped in October, affirming signs of a cyclical upturn in the region. India's October

Nikkei manufacturing PMI ticked up to nearly two-year high of 54.4 from September's

52.1. "The improving order pipeline is encouraging and points to better industrial and

business outlook. Also being a de facto business confidence/sentiment gauge, these PMIs

partly reflect broad optimism on the back of strong asset market performance and stable

rupee," the report said.

Private equity investment in RE rises 22 per cent y-o-y in Jan-Sept 2016: Report -

Private equity investment in the real estate sector has grown 22 per cent during January-

September this year to Rs 28,300 crore, from Rs 23,200 crore a year ago, reflecting

improved confidence among investors to make larger investments, says a Cushman &

Wakefield report. According to the report, private equity inflow increased to Rs 28,300

crore during the period, out of which nearly Rs 9,200 crore were recorded during the third

quarter July-Sep of 2016.

While the number of deals closed during the third quarter moderately declined by 3 per

cent quarter-on-quarter (q-o-q) to 32 per cent, the total investments increased by 1.2 per

cent, reflecting increased confidence amongst investors to make larger investments. The

average deal size, therefore, increased from Rs 275 crore in Q2 2016 to Rs 287 crore in

the third quarter of 2016. "Owing to the continued interest in pre-leased office assets, the

investments in the commercial office assets have already surpassed the total investment

received during the calendar year 2015," the report said.

GST may not stoke inflation, 50% CPI items out of tax net - The multi-layered

structure along with a large number of exemptions could mean that the goods and

services tax may not be inflationary as some feared. Nearly half of the items in consumer

price index basket, including cereals, will not be taxed under the new levy that will

replace a plethora of indirect taxes. Besides that all other essential commodities will come

under 5% tax bracket, down from initially proposed 6%. However, there could be an

impact on services that make up 30% of CPI. Many services are proposed to attract 18%

tax, up from 15% now. Chief economic adviser Arvind Subramanian said GST will bring

down inflation. “I don’t think there is any fear on inflation. On an average this should

probably serve to lower inflation. If at all, the impact on inflation will be very small.

Today’s change should probably bring it down.” Last year, a committee headed by

Subramanian had recommended standard GST rate at 17-18%. Standard rate is one that

will be levied on most goods, except some essential ones that will be levied at a lower

rate. Neha Saraf, India economist at Nomura, said, “With a standard rate of 18%, we had

expected a 20 basis point impact on CPI headline inflation.

Economy set to perform better in 2nd half of FY16: Assocham - Indian economy

would be performing better in the second half of the current fiscal and the trend appears

to have begun from the quarter beginning October, 2016 with 66.7% of the latest

Assocham Bizcon Survey respondents expecting uptick in sales, capacity utilization,

though Positivity on fresh investment is tentative. Increased spend on infrastructure

development, largely in the government is seen as the most important driver for a

turnaround in the economic outlook for the current quarter and the last quarter of the

financial year 2016-17. The second best driver for the optimistic outlook is effective

policy reforms followed by a stable foreign exchange rate of the Indian currency despite

global head winds like uncertainty on account of the Federal Reserve’s next policy move

and the most bitterly fought US Presidential elections. While a big chunk of Bizcon

Survey participants felt the present economic situation appears to be in a better shape than

the previous six months on several parameters, the optimism is more pronounced for the

second half of the current fiscal. For instance on the parameter of industrial performance,

the Assocham Bizcon done in September , noted over 83 per cent of the respondents

believing things would look better in at the industry level in the ongoing six month

period.

“ there is a clear turnaround in business confidence, which holds the key to new

investment and consumer confidence”, the chamber President Sunil Kanoria said. He said

unlike the previous surveys, the latest round indicates a slight uptick even with regard to

capacity utilization going forward and the order book. However, generation of new

employment and improvement in wages is still some distance away. The confidence was

quite pronounced at the level of individual firms’ level, as about 89% of the respondents

expressed optimism about better days ahead.

✍ TOP ECONOMY NEWS

Indicating a sharp uptick in industrial activity, the Nikkei India Manufacturing

Purchasing Managers’ Index TM rose to a 22-month peak in Oct of 54.4. It stood at 52.1

in Sept.

The Centre’s fiscal deficit ballooned to 83.9% of the Budget Estimates in the first half of

2016-17, the highest in the first six months of a financial year since 1998-99, on account

of elevated capital spending and higher salaries outgo. On revenue side, lower realisations

from disinvestment and other streams hurt the exchequer.

Core sector output rose a three -month high of 5% in September, mainly due to sustained

growth in the steel sector and an increase in refinery production, broadly indicating that

the Index of Industrial Production growth may reverse a two-month declining trend a

month before the festival season. The eight- industry core sector index had grown 3.2% in

August and 3% in July.

Rural employment scheme Mahatma Gandhi National Rural Employment Guarantee Act

is facing shortage of funds despite the highest ever budgetary allocation to the programme

this year, and the Rural Development Ministry is now seeking an additional Rs. 100

billion for its smooth functioning.

The government has excluded 40-odd grades of stainless steel used in auto and

engineering sectors from the Stainless Steel Quality Control Order, 2016.

Government is considering further relaxing foreign direct investment norms in several

areas, including trading, with an eye on more inflows.

To support financing for start-ups, the Reserve Bank of India issued rules permitting

these to raise external commercial borrowings.

India may turn into a net importer of fuel oil as its state-owned refiners are making Multi

- billion dollar investments to upgrade their refineries and produce more profitable

refined products such as gasoline or diesel.

New ultra mega power projects based on imported coal may be insulated from

uncertainties in fuel costs, with the power ministry deciding to factor in indexed imported

coal prices into tariff for such plants.

The Goods and Services Tax Network — a not-for-profit company set up to provide IT

infrastructure and services for the implementation of GST - -has entered into an

memorandum of understanding with the Directorate General of Foreign Trade for sharing

of foreign exchange realisation and import export code data.

The government has proposed to come out with annual surveys that would give it

estimation of Labour and workforce and unemployment rates nation-wide.

Of the 101 power plants under daily review of the Central Electricity Authority as on

October 31, about 40 plants are found to have coal stock for less than 15 days, six plants

have stock for less than seven days and 12 plants with less than five-day stock.

The Indian government and three state-run firms will jointly set up an equity fund of up

to USD 2 billion for renewable energy companies to help New Delhi meet its clean

energy goals.

The number of people earning more than Rs. 10 million annually has jumped by 10% and

those earning between Rs 0.50 million to Rs. 10 million by 22% according to the latest

tax returns figure by income tax department for the year 2014-15.

A 4-tier GST tax structure of 5, 12, 18 and 28%, with lower rates for essential items and

the highest for luxury and de-merits goods that would also attract an additional cess.

The Finance Ministry has imposed provisional anti-dumping duty on import of hot rolled

steel products from China. This anti-dumping duty will be valid for a period of six

months.

✍ TOP CORPORATE NEWS -

Strides Shasun Limited has received approval from the US health regulator for Abacavir

tablets used in the treatment of HIV.

BGR Energy Systems Limited has bagged a contract worth Rs. 26 billion from Tamil

Nadu Generation and Distribution Corporation Ltd for the execution of a thermal power

project.

Reliance Industries Limited and its foreign partners, BP Plc and Niko Resources, may

have to pay a penalty of more than USD 1 billion for commercially using the migrated

gas from the block of Oil and Natural Gas Corpn. in the Krishna-Godavari basin.

Ujaas Energy Limited has bagged an order from Airports Authority of India for design,

manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.

Indian Oil Corporation Limited, Fertiliser Corporation of India and Hindustan

Fertiliser Corporation of India were roped into the joint venture to revive Sindhri and

Gorakhpur urea units of Fertiliser Corporation of India.

NHPC Limited announced commissioning of a 50 MW wind power project in Rajasthan.

NCR Corporation has bagged a Rs. 3.34 billion order from State Bank of India to install

over 7,000 cash-vending machines, making this the single largest order in the country.

Pokarna Limited has announced that its 100% subsidiary, Pokarna Engineered Stone

Limited has exited the Corporate Debt Restructuring mechanism.

NMDC Limited has signed a tripartite agreement with the Madhya Pradesh Directorate

of Mines and Geology and MP State Mining Development Corporation Ltd to explore

mineral resources.

Tata Steel Minerals Canada has announced that it has decided to invest CAD 125

million as equity and CAD 50 million as debt with the Government of Quebec’s

investment entities, Resources Quebec and Investment Quebec respectively, totaling

CAD 175 million.

Advanced Enzyme Technologies Limited has entered into definitive agreements with API

maker JC Biotech to acquire 70% stake for a consideration of Rs. 500 million.

Tata Steel Limited said it continues to pursue its European consolidation strategy and is

in talks with Thyssenkrupp AG for a potential joint venture for its European steel

business, following a purported disclosure from ousted chairman Cyrus Mistry that some

group firms could face a potential writedown of USD 18 billion.

The Information and Broadcasting ministry has given permission to a company related to

the Sun TV Network Limited to operate five channels that they had bagged in e-auction

in the first batch of Private FM Phase III expansion last year.

Siemens Limited said it will modernise the energy management systems of Uttar

Pradesh’s transmission utility UPPTCL.

Bosch Limited has resumed operations at its Jaipur plant following the Rajasthan State

Pollution Control Board keeping a notice to close the plant in abeyance for a month.

Heritage Foods Limited has executed an agreement to acquire the dairy business of

Reliance Retail Limited through slump sale.

Godrej Properties Limited has sold villas worth over Rs. 3 billion on the first day of the

launch of 100-acre township in Greater Noida, bucking the existing slowdown in the

NCR property market.

MMTC Limited plans to sell sovereign gold coins to non-resident Indians through

branches of Indian banks with which it has tied-ups.

Central Electricity Regulatory Commission is expected to deliver its verdict this month

on permitting Tata Power tariff compensation to recover losses suffered by the Mundra

Ultra Mega Power Project due to high prices of imported coal.

Bharti Airtel Limited has awarded a USD 60 million pan-India deal to Finnish gear

maker Nokia to implement voice-over-LTE calling technology which may be launched

within this year.

Cyrus Mistry, the ousted chairman of Tata Sons, holds nearly Rs. 10 billion worth of

stocks of Tata Consultancy Services.

Zensar Technologies Limited has acquired Foolproof Ltd along with its three wholly

owned subsidiaries for an undisclosed amount.

Lupin Limited has received final approval from the US health regulator for marketing

Norgestimate and Ethinyl Estradiol tablets, used for the prevention of pregnancy, in the

US market.

Ajanta Pharma Limited has launched in the US market tablets used for lowering blood

pressure.

Cox & Kings Limited has partnered with UAE Exchange India to foray into the money

transfer business in India.

Tech Mahindra Limited bagged a five-year deal from Finland's Stockmann. The deal

will allow Stockmann to consolidate its vendor portfolio and reduce its ICT costs.

Strides Shasun Limited plans to list its biotechnology business, Stelis Biopharma.

Aurobindo Pharma Limited has expressed preliminary interest in acquiring Portuguese

drug maker Generis Farmaceutica for about USD 200 million.

In a setback to Oil and Natural Gas Corporation Limited and Cairn India, the

government will from this fiscal levy service tax of about Rs. 7.30 billion on royalties

they pay to the exchequer on oil and gas they produce.

Sterlite Technologies Limited has approved an interim dividend of 25% for the year

2016-17.

Jindal Steel and Power Limited has failed to pay Rs 154.3 million interest on non

convertible debentures , which was due on October 31.

Bharti Airtel Limited has provided over 7,000 additional points of Interconnect to

Reliance Jio, taking the total number till date to over 17,000, which is sufficient to serve

over 75mn customers.

Zain said it will pay USD 129 million to Bharti Airtel Limited over a settlement related

to the sale of Zain's Africa operations to the Indian firm in 2010.

Jet Airways Limited will prepare crew’s duty rosters in consultation with the pilots’

union. This was agreed between the pilots' union and the airline management after

protests by pilots against the new duty hours.

Bharti Airtel Limited launched its 4G services across 120 towns of Uttar Pradesh

promising high speed mobile broadband experience for its subscribers.

The National Aluminium Company is likely to keep in abeyance its plans to put up a

greenfield smelter in Iran.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Some 14 nationalised banks have been charging a total Rs. 26 crore every year – one

fourth its annual administrative expenditure, from Coal Mines Provident Fund

Organization for collecting life certificates on its behalf. Nevertheless, CMPFO is in the

process of doing away with this costly affair of collecting life certificates through banks

after seeding Aadhaar with every account holders’ CMPF Account Number. Pension is

now directly transferred pensioners accounts. While appreciating the efforts of CMPFO,

coal secretary, Anil Swarup said that the online transfer should be effected by 31st

December, 2016.

The rate war has begun with the country's largest lender State Bank of India and the

topmost private sector lender ICICI Bank going all out to lure home loan customers in a

bid to improve their market share. State Bank of India has slashed its home loan rate to a

six-year low to 9.10%. Under this new scheme woman borrowers will be able to avail

home loans at 9.10% while other borrowers will be able to avail loans at 9.15%. These

rates will be applicable top loans up to Rs 75 lakh w.e.f 1st November. On Home Loan of

Rs 50 lac's, reduction in interest rate by 0.15% by SBI will help a home buyer to save Rs.

542 per month and approximately Rs. 2 lac's during the loan tenure of 30 years. SBI’s

home loan tenure of 30 years.

Private sector lender Yes Bank has launched “Yes Mobile 2.0” its new mobile banking

app with multiple new features and extensive support for banking transactions on Apple

and Android based SmartWatches. The app is compatible with all mobile devices

including Android tablets and Apple iPads in addition to smartphones and wearables.

With multiple added functionalities and a customisable interface Yes Mobile 2.0 will

replace the older Yes Mobile application that was being used by bank customers.

State-run banks, other than State Bank of India, have been lagging far behind their

private sector peers when it comes to lending. While the industry growth rate itself may

be barely in double digits, PSU banks, barring SBI, are growing at a paltry pace over the

past two quarters pushing back hopes of any recovery in investments. Loans at state-run

banks grew just 1.4% in the March and June quarters, the lowest in past four years, data

from the Reserve Bank of India shows. Poor capital positions, risk aversion and top

corporates moving to bond markets are among the reasons why these banks which once

thrived on project financing are lagging.

Central bankers rarely talk straight, more so when it comes to the state of the banking

industry. But the Reserve Bank of India deputy governor SS Mundra came close to it

when he recently raised the red flag about the state of human resources in the banking

industry. When Mundra calls this a ‘decade of retirement’, it should be the beginning of

sleepless nights to chiefs of banks and the biggest stakeholder in the system — the

government, if it wants to save whatever little value is left of the sector after bad loans

had eroded its worth.

State-run banks, which used to be the most sought after for job seekers in the three

decades since the 70s, not only lost sheen to more lucrative career options in technology

and other sectors, but the efforts to make it more efficient by ending indiscriminate hiring

and not replacing it with a suitable hiring plan is beginning to bite.

US-based ATM manufacturer NCR Corporation has bagged a Rs 334-crore order from

State Bank of India to install over 7,000 cash-vending machines, making this the single

largest order in the country. NCR is the largest player in the domestic ATM market with

over 1 lakh cash-vending machines running. Its new ATMs are equipped with the latest

anti-fraud security solutions.

"State Bank of India has awarded NCR with the single largest order of ATMs in the

country. The agreement, valued at around Rs. 334 crore, has to be executed over the next

seven years, and NCR will deploy 7,070 cash-vending machines, software solutions and

provide services support," NCR India Managing Director Navroze Dastur told PTI.

Joining the rate cut war, biggest mortgage firm HDFC and private sector lender ICICI

Bank today cut home loan rates by 0.15 per cent, a move that may be followed by other

lenders. Home loans up to Rs 75 lakh for women borrowers will now attract an interest of

9.15 per cent and for others it will be 9.20 per cent, HDFC Ltd said in a statement. "Over

the past couple of months, we have seen a drop in our marginal costs of funds and as

always, HDFC has ensured that benefit is passed on to its customers," HDFC Ltd

Managing Director Renu Sud Karnad said.

Five new banks have joined the Unified Payments Interface bandwagon, thereby taking

the total number of banks using UPI to 26. The five latest entrants include public sector

lenders, State Bank of India, Allahabad Bank and Bank of Baroda and two private banks

HDFC Bank and IDFC Bank. These applications are currently in their final testing phase

being active only in closed user groups, they are expected to go live for the public within

the next six weeks,” said bankers in the know of the matter, who did not wish to be

identified.

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