TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

CNX NIFTY - The market has opened lower On Monday, The Nifty down 54.75 points or 0.7 percent at

7555.70. The Asian equities were also trading lower on Monday after a further slump in oil prices on last

Friday. Equity benchmarks bounced back From Tuesday Nifty ended slightly above 7700-mark, up 50.85

points or 0.66 percent to 7700.90 which is a psychological level of Nifty. US Federal Reserve policy-setting

committee raised the range of its benchmark interest rate by 25 bps. The Equity market pared some positive

movement after the historic rate hike by the US central Bank. Going forward for Next Week, 7800-7850

would be a key resistance level to Nifty. If the Nifty manages to break this level, we may witness an

extension of this bounce towards 7900- 8000 levels. On the other side, 7720-7670 would be the support

levels for the index .Equity benchmarks ended at two-week closing high on Thursday, tracking rally in

global peers after the first Fed rate hike in almost a decade. Index heavyweights drove the market higher.

Nifty could test 8000 by December-end. On Thursday total 78 lakh share traded in Nifty option at the strike

level of 8000 in Nifty. It is a Indication of Strong Confidence Among the investors.The Expectation of

Market for Next week is on bullish the Nifty can give the high of 8000-8050. The Resistance for Nifty for

week is 7783-7864 And Support 7702-7685.

BANK NIFTY FUTURE - The Bank Nifty Also open in red on Monday trading session down by 130

point or 0.80 per cent lower at 16212.40. The Bank Nifty is currently trading at 16647 down by 124 point

or 0.74 per cent. The Banking stocks is Not performing well due to rate changing policy of Federal reserve

of US last Wednesday. The Bank Nifty is seems Strong for Next week. It can cross the level of 16900. The

Strong Resistance for Bank Nifty is 16894-16979 And the Banking Nifty Strong support is 16672-16634. If

the Bank Nifty able to break these Uper level we can expect the 17000-17200 For Next week.RBI has

Introduce the new base rate calculation methodology which will come into the effect from next financial

year. The All over the Trend of Banking Nifty is on Upside.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8026 7864 7783 7702 7540

WEEKLY R2 R1 PP S1 S2

8616 8020 7722 7424 6828

MONTHLY R2 R1 PP S1 S2

9016 8180 7762 7344 6508

BANK NIFTY

DAILY R2 R1 PP S1 S2

17118 16796 16635 16474 16152

WEEKLY R2 R1 PP S1 S2

18260 17098 16517 15936 14774

MONTHLY R2 R1 PP S1 S2

20677 18065 16759 15453 14147

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7816 7969 8063 8263

BANK NIFTY 16920 17223 17482 17982

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7583 8358 8556

BANK NIFTY 16825 16085 19682

PATTERN FORMATION ( NIFTY AND BANK NIFTY )

Depiction of Chart - On The Above given daily Chart of MAs lag current price action because they are based on past prices the longer

the time period for the MA, the greater the lag. 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, or when two averages cross over. A rising MA indicates that the

security is in an uptrend, while a declining MA indicates that it is in a downtrend. Similarly, upward momentum is confirmed with a bullish

crossover, which occurs when a short-term MA crosses above a longer-term MA. Downward momentum is confirmed with a bearish

crossover, which occurs when a short-term MA crosses below a longer-term MA.While on the Above given Chart both the condition are not

following.The chances of Nifty50 to give gap-up opening in next week. So we can expect that if the Nifty is crossing the level of 7800 it

can make the high of 7950-8000 for Next Week. Weekly Support of Nifty Is 7702-7540 And Resistance is 7864-8026.

BANK NIFTY MACD

Details of Chart On the Above given chart of Bank Nify MOVING AVERAGE for 100 Days along with EMA for 50 days. is the

strong Resistance for Bank Nifty in weekly chart.both the MA as Resistance leevel it could make high of 16900.The market is not more

volatile due to global news. However Next Session of Bank nifty could be expect in bullish trend. The Banking Industry Stocks is not

performing well. So Banking Industry Shares Can open in the upside on Monday. The Support for Bank Nifty Is 16474 S2 16152 And the

Resistance for Bank Nifty is R1 16900 R2 1700.. The All over trend of Bank Nifty will be positive we can see a sharp bullish opening

only for next trading session .

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1371 1361 1350 1340 1329

ALBK EQ 73 72 70 69 68

AMBUJACEM EQ 207 205 200 197 192

ASIAN PAINT EQ 880 876 872 868 864

AXISBANK EQ 444 439 436 431 428

BAJAJ-AUTO EQ 2516 2494 2481 2459 2446

BANKBARODA EQ 164 162 160 158 156

BANKINDIA EQ 122 120 118 116 114

BHEL EQ 170 168 167 165 164

BHARTIARTL EQ 325 322 320 317 315

CIPLA EQ 654 649 645 640 636

COALINDIA EQ 320 319 316 315 312

DLF EQ 118 117 115 114 112

DRREDDY EQ 3024 3007 2990 2973 2956

GAIL EQ 349 345 342 338 335

GRASIM EQ 3796 3750 3718 3672 3640

HCLTECH EQ 870 861 857 848 844

HDFC EQ 1256 1244 1234 1222 1212

HDFCBANK EQ 1092 1081 1075 1064 1058

HEROMOTOCO EQ 2687 2672 2648 2633 2609

HINDALCO EQ 83 82 81 80 79

HINDUNILVR EQ 879 872 867 860 855

ICICIBANK EQ 254 253 251 250 248

ITC EQ 326 321 319 314 312

INDUSIND BANK EQ 955 943 936 934 917

INFY EQ 1115 1104 1092 1081 1069

JINDALSTEL EQ 93 92 90 89 87

KOTAKBANK EQ 169 168 168 167 167

LT EQ 1318 1306 1296 1284 1274

M&M EQ 1270 1260 1247 1237 1224

MRF EQ 39622 39405 39183 38966 38744

MARUTI EQ 4733 4687 4656 4610 4579

ONGC EQ 225 224 222 221 219

ORIENTBANK EQ 148 144 140 136 132

RCOM EQ 86 85 83 82 81

RELCAPITAL EQ 413 408 404 399 395

RELIANCE EQ 1016 1005 998 987 980

RELINFRA EQ 463 457 447 441 431

RPOWER EQ 52 52 51 50 49

SBIN EQ 234 231 230 227 226

SSLT( VEDL) EQ 87 86 85 84 83

SUNPHARMA EQ 816 805 798 787 780

TATAMOTORS EQ 386 383 380 377 374

TATAPOWER EQ 66 67 65 64 63

TATASTEEL EQ 258 257 255 254 252

UNIONBANK EQ 157 154 150 147 143

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION)

NSE FUTURE

1. EXIDE INDIA FUTURE : EXIDE INDIA OPEN AT 143.30 AND CLOSE AT 144.70 MADE

HIGH OF 145.80 MOVES IN BULLISH TREND ON DAILY CHART OF EXIDEINDIA

SHOWS CONITNOUSLY BULLISH MOVEMNET WE CAN EXPECT FURTHER BULLISH

TREND IN EXIDE INDIA. WE CAN MADE LONG POSITION IN IT ABOVE 146 TGT 156

SL 144.

2. RECLTD FUTURE : RECLTD SHOWS BULLISH TREND ON DAILY CHART IT CAN

MOVE FURTHER IN UPSIDE DIRECTION WE CAN MADE LONG POSITION IN IT

ABOVE 224 TGT 250 SL 216.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 Indian Bank 124.20 113.10 -8.94 %

2 PMC Fincorp 0.69 0.63 -8.70 %

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3 Punj. NationlBak 130.45 121.90 -6.55 %

4 Mahi. & Mahi 1,312.80 1240.5 -5.49 %

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5 SKF India 1,244.30 1,178. -5.32 %

6 Union Bank of In 157.15 149.80 -4.68 %

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7 Dish TV India Ltd. 101.45 96.90 -4.48 %

8 Tata Motors Ltd. 393.95 378.25 -3.99 %

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9 Axis Bank Ltd. 450.90 433.25 -3.91 %

10 ICICI Bank 259.50 250 -3.66 %

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0 11 Shriram Trans.Fi 852.25 821.90

-3.56 %

12 GujaratStatePetrone

t

132.15 127.85 -3.25 %

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13 SBI 234.35 227.05 -3.11 %

14 Max India Ltd. 515.95 500.30 -3.03 %

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15 Gujarat Pipavav

Port

153.90 150.05 -2.50 %

SR.NO SCRIPT NAME PREV

CLOSE CMP % CHANGE

1 BEML 1051.15 1263.60 +20.12 %

2 TATA ELXSI LTD. 1874.45 2194.00 +18.76 % 1. T

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3 GATI LTD. 152.25 177.80 +16.78 %

4 TATA STEEL 226.85 255.75 +12.74 % 6. T

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5 JET AIRWAYS 560.75 618.10 +10.23 %

6 RELIANCE CO. LTD. 76.00 83.65 +10.13 % R

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7 JSW STEEL 942.70 1031.55 +9.43 %

8 Essar Oil Ltd. 205.40 223.00 +8.57 % E

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9 Fortis Healthcare 162.60 176.35 +8.46 %

10 Reliance Inds. 915.95 993.10 + 8.42 % R

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11 BF Utilities Ltd. 579.40 628.00 +8.39 %

12 Havells India 282.60 305.60 +8.14 % H

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15 Welspun Corp 104.25 112.35 +7.77 %

3. AMBUJACEMENT FUTURE : AMBUJACEMENT FUTURE OPEN AT 196.60 MADE

HIGH OF 202.65 GIVES ALMOST 3% UPSIDE DIRECTION MOVEMNET ON DAILY OF IT

ALSO SUGGEST UPSIDE MOVEMENT WE CAN MADE LONG POSITION IN IT ABOVE

203 220 SL 199.

4. ASIANPAINT FUTURE : ASIANPAINT MOVES IN BULLISH TREND TODAY WE CAN

MADE LONG POSITION IN IT ABOVE 884 TGT 984 SL 870.

5. TATASTEEL FUTURE : TATASTEEL OPEN AT 256 MADE HIGH OF 257.90 MOVES IN

BULLISH TREND ON DAILY CHART OF TATASTEEL SHOWS UPSIDE RALLY WE CAN

EXPECT FURTHER UPSIDE MOVEMENT IN IT.MADE LONG POSITION IN TATASTEEL

ABOVE 258 TGT 280 SL 249.

NSE CASH

1. PNB NSE CASH : PNB IS TRADING IN A NARROW RANGE AND LONG POSITION CAN

BE MADE ON BREAKOUT OF 125.20 LEVEL ,TGT AND SL WOULD BE 135 AND 121

2. MOTHERSUMI NSE CASH : LONG POSITION CAN BE MADE ABOVE 293 FOR TGT

AND SL OF 317 AND 284

3. MRPL NSE CASH : MRPL CAN SHOW UPWARD MOMENT ABOVE THE LEVEL OF

69.20 . LONG POSITION CAN BE MADE ABOVE 69.20 FOR TGT AND SL OF 75 AND

66.70

4. DISHTV NSE CASH : LONG POSITION CAN BE MADE IN DISHTV ABOVE 98 FOR TGT

AND SL OF 106 AND 95 RESPECTIVELY.

5. FRL NSE CASH : LONG POSITION CAN BE MADE IN FRL ABOVE 145 FOR TGT AND

SL OF 157 AND 140 RESPECTIVELY.

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

Govt cuts market borrowing target for H2 FY16- The Government has cut its market

borrowings target for the second half of FY16 by INR 15,000 crore, citing the launch of

the Sovereign Gold Bond and Gold Monetisation schemes.“The gross market borrowings

have been adjusted down by INR 15,000 crore to take into account expected government

borrowings through Sovereign Gold Bonds and Gold Monetisation Scheme,” the Finance

Ministry said on Tuesday. The Centre plans to raise INR 2.49 lakh crore in the second

half of FY16 out of a gross borrowing target of INR 6 lakh crore. Of this, it plans to raise

INR 2.34 lakh crore through government securities. Gross borrowings in the first half of

FY16 totaled INR 3.51 lakh crore, of which INR 1.71 lakh crore were raised in the

quarter ended 30th September, the Finance Ministry said in its Quarterly Report on Debt

Management.

Disinvestment in FY16! Govt. garners Rs. 12,701 crore -: Government has raised Rs.

12,701 crore from stake sale in PSUs in this fiscal and lined up state-run firms in sectors

such as defence, oil and power for disinvestment to garner more capital, Finance Minister

Arun Jaitley reportedly said. he said Government sold part of its stake in REC, PFC,

Dredging Corp of India and Indian Oil Corp to raise a total of Rs. 12,701.33 crore this

year. "The government identified some CPSEs for disinvestment during the year in

sectors, which includes defence, fertiliser, heavy engineering, minerals and metals, oil,

power, steel, technical consultancy, tourism, transport services, trading and marketing,"

Jaitley was quoted as saying.

October IIP comes at five year high! Stands at 9.80% -: For the first time in five year,

Factory output, beating street estimates grew 9.8% in October on the back of strong show

in manufacturing and electricity sectors. This compares with 3.8% in September, which

was revised upwards from 3.6%. The cumulative growth for the period April-October

2015-16 over the corresponding period of the previous year stands at 4.8%. In terms of

industries, 17 out of the 22 industry groups in the manufacturing sector have shown

positive growth during the month of October 2015 as compared to the corresponding

month of the previous year. The Indices of Industrial Production for the Mining,

Manufacturing and Electricity sectors for the month of October 2015 stand at 130.0B,

188.1 and 201.6 respectively, with the corresponding growth rates of 4.7%, 10.6% and

9.0% as compared to October 2014.

Government allocates Pottangi mines to Nalco -: Pottangi mines located in Odhisa has

been allocated to state-run aluminium producer Nalco for manufacturing one MTPA

alumina refinery by 2020. This was informed by Vishnu Deo Sai, Minister of State for

Steel and Mines. The alumina refinery will come up at Damanjodi, Koraput district in

Odisha. The total cost of the refnery is estimated at Rs. 5,540 crore. The government of

Odisha has taken an in-principle decision in this regard, informed the minister.

Nov CPI rises to 14 month highs at 5.41% v/s 5% in October -: On account of sharp

rise in food price inflation, the country's consumer price index (CPI) based inflation

quickened to fourteen-month high of 5.41% as against 5% in October 2015 and 3.27% in

November last year. The General Indices for the month of November 2015 for Rural,

Urban and Combined stood at 128.3, 124.6 and 126.6 respectively. Correspondingly, CPI

for Rural and urban stood at 5.95% and 4.74% against 5.54% and 4.28% in October

respectively. Consumer food prices – which had weightage of about 47% in CPI index –

grew 6.07% in November 2015 as against 1.13% in November last year. The CFPI for

Rural, Urban and Combined for the same month are 132.5, 133.7 and 132.9 respectively.

India’s cement production reaches to 160 MT till Oct in FY16 -: India‟s total cement

production has reached to 160.45 million tonnes till October in the current financial year

and the dispatch have reached to 159.56 MT, said Nirmala Sitharaman, Minister of State

(IC) in the Ministry of Commerce & Industry. “The total installed capacity of cement

plants in India is 360 MT per annum. At present, the cement industry is not operating at

optimum capacity due to sluggish demand. As against the present installed capacity of

360 MT per annum, the total production during 2014-15 was only 270.93 MT per annum.

Thus, there is ample scope to meet future requirement,” said Sitharaman.

Twenty Eight oil fields to be auction under Marginal Field Policy -: To monetise the

idle oil and gas fields, under the Marginal Field Policy, the Government of India has

decided to auction 28 oil and gas fields out of the 69 small and marginal fields owned by

ONGC and Oil India. This was stated by Oil Minister Dharmendra Pradhan in Lok Sabha.

The said 28 oil fields are located in Mumbai offshore and are to be auctioned to private

players. The 69 idle oil and gas fields are owned by ONGC and Oil India, of which 28 oil

fields are in Mumbai offshore and 14 are in Krishna Godavari basin.

Rising Inflation might come in way of cutting rates to fuel growth -: Most of the

times, RBI is caught in a Catch-22 situation. At one end, it wants to cut rates to revive

India‟s stalling growth engine. On other end, it needs to keep rates high enough to ensure

that inflation does not go out of hand. In recent times, RBI has done well to control the

rising inflation and keeping it within acceptable range. From an average of 10% in 2008-

09, it is now closer to 5.5% for the past 1.5 years. But honestly speaking, a major part of

this low inflation has been contributed by subdued commodity prices. But one also needs

to give due credit to government for its prudent food supply management.

Exports decline for 12th straight month, down 24% in November - : Exports declined

for the 12th month in November, indicating that tepid global demand continues to be a

drag on India's economic recovery. A sharper fall in imports, however, helped keep the

country's trade deficit in check. Exports fell more than 24 per cent to $20 billion in

November, compared with $26.4 billion a year earlier, according to data released by the

commerce ministry on Tuesday. Imports declined over 30 per cent to $29.7 billion from

$42.7 billion a year ago, led by low crude oil prices and subdued imports of gold, coal

and fertilisers. This helped shrank the trade deficit to $9.7 billion from $16.2 billion.

Falling Crude Oil prices support switch from fixed to ad-valorem levy of cess - India

is lucky to witness a big fall in its import bills due to falling crude oil prices. But this fall

has created dual problems for oil exploration companies. As it is the net realization per

barrel is low due to price fall. In addition to that, explorers also need to pay a fixed cess

of Rs 4500 per ton of crude oil to the government. This cess was fixed and has remained

constant since 2012, when prices had breached $100. But with prices now close to

breaching decade-lows of $35, this fixed cess forms almost 33% of the total landed cost

of the fuel.

Indian drug market crosses Rs. 1 lk crore mark - On the back of new drugs launched

and enhanced R&D for drug discovery, the Indian pharmaceutical market has crossed Rs.

1,00,000 crore mark for the first time in November, according to a latest report by IMS

Health.The Indian pharmaceutical market has grown by 12%. The report further notes

that medicines for infections, heart ailments and gastrointestinal accounted for nearly

38% of market share. In November, the Indian pharmaceutical market stood at Rs.

1,00,115 crore, of which retail sector accounted for Rs. 84,279 crore.

Fitch: U.S. Fed Rate rise may add to Sovereign Challenges - The U.S. Federal

Reserve's decision to increase interest rates is in line with Fitch Ratings' expectation that

the U.S. central bank would start to normalise monetary policy by the end of 2015. This

process has been widely expected and rate increases will be gradual and to a moderate

level by historical norms, but U.S. tightening, divergent global monetary policies, and

potential market reactions may add to some of the challenges facing Fitch-rated

sovereigns, chiefly in emerging markets.On Dec. 16, the Fed raised the target range of the

Federal Funds rate for the first time since 2006, by 25bps to 0.25%-0.50%. We anticipate

three further 25bps rises in the rate through 2016, taking the upper end of the range to

1.25%.

GST delay will hurt India’s GDP by 1.5%-2% - Industry and foreign investors seems

to be losing their patience now. The unnecessary delay in Goods and Services Tax due to

opposition‟s rhetoric is hurting Indian economy more than the political party in power.

Hence quicker the rollout, better it is. There is no doubt about the success of GST. World

over, it is the standard way of taxation. It unifies a complex tax system and since it is

simpler to implement, it creates a broader tax base and efficient taxation too.

Rs. 1,700 crore a day required to build India’s infrastructure: CRISIL - The funding

requirement for building India‟s infrastructure is large. We need close to Rs 31 lakh crore

over the next five years to provide uninterrupted power supply to our homes and

factories, and improve our roads, telecom, transport and other urban infrastructure. That

translates into more than Rs 6 lakh crore of investments every year or around Rs 1,700

crore every day from April 2015 to March 2020.

Govt eyeing 30% rise in FDI in coming years - The Government is targeting a 30%

increase in the annual inflow of foreign direct investment in the next few years,

Department of Industrial Policy & Promotion Secretary Amitabh Kant said on Thursday.

FDI inflows touched US$47.50 billion between June 2014 and October 2015 compared

with US$35.09 billion in the previous 17 months.

“Since the announcement of Make in India, we have been able to get significant

investments. After the launch of Make in India, FDI in the last 17 months, as compared

with the previous 17 months, has grown by about 35%,” Kant said.

US to double H1B, L1 visa fee for Indian firms - US Congress doubled special fee on

the popular H-1B and L-1 visas raising it up to USD 4,500 to fund a 9/11 healthcare act

and biometric tracking system that will hit Indian IT companies. Congressional leaders,

while agreeing on the USD 1.1 trillion spending bill, has decided to impose a special fee

of USD 4,000 on certain categories of H-1B visas and USD 4,500 on L-1 visas. The US

House of Representative is slated to vote on the USD 1.1 trillion spending bill deal.

TOP ECONOMY NEWS

Govt approves 7 FDI proposals worth Rs. 5240.35 Crore - :Based on the

recommendations of Foreign Investment Promotion Board in its 227th meeting held on

9th November 2015, the Government has approved Seven proposals of Foreign Direct

Investment amounting to Rs. 5240.35 crore.

Will the Real Estate Bill finally become a reality -: Several amendments to the Real

Estate Bill, 2015, suggested by the select committee of Rajya Sabha, have now been

accepted by the Union Cabinet. This is a major step towards introducing the amended bill

in the Rajya Sabha. The bill will bring in much-needed transparency and accountability in

the real estate sector. It will create a much-needed consumer right protection umbrella for

buyers of real estate, thereby increasing consumer confidence as well as creating lasting

developer brands strong on quality and timely delivery of their projects.

Govt working on coal allotment procedure for commercial mining - The procedure

for allocating coal blocks for commercial mining is under the government's consideration,

Parliament was informed.

Sharp China slowdown would hit global growth hard: Fitch -:A sharp slowdown in

China's GDP growth rate Estimated to 2.3% during 2016-2018 would disrupt global trade

and hinder growth, with significant knock-on effects for emerging markets and global

corporates, according to a study by Fitch Ratings. In turn, this would keep short-term

interest rates and commodity prices lower for longer. This hypothetical scenario does not

reflect Fitch's current expectations for China's growth, but is designed to test credit

connections between China and the rest of the world.

ASSOCHAM : November WPI is giving positive signal to the industry -: The

estimates of low wholesale price inflation in November 2015 is in line with the industry

expectation and needs to be looked upon at by caution since it‟s in the negative territory

for last 13th month, said ASSOCHAM. The annual rate of inflation, based on monthly

WPI, stood at (-1.99%) for the month of November, 2015 as compared to (-0.17% ) that

was seen during the corresponding month of the previous year. WPI decline seems to

have been mainly been contributed by a softening of potato, minerals, high speed diesel,

sugar and iron & semis. The General Secretary of ASSOCHAM said.

13,204 MW of green power capacity added in 12th Plan till October - :A power

generation capacity of 13,204 MW from non-conventional or clean sources like solar and

wind has been added during the 12th Plan till October-end, the Parliament was informed.

Stainless steel body says anti-dumping duty will have negligible impact -: Indian

Stainless Steel Development Association has said that the recent imposition of Anti

Dumping Duty on Cold Rolled flat products will have a negligible impact as the import

trend has now shifted to higher widths. It was reacting to government decision to impose

ADD on CR flat products of widths between 600-1250 mm for five years after the sunset

review from China, Japan, South Korea, Malaysia, South Africa, Malaysia, Taiwan, EU

and USA.

Call Drop: COAI Blames Delay in Clearances for Poor Services -: Telecom industry

body COAI said that due to delay in getting clearances from the Centre and the state

authorities, they could set up only 20,000-25,000 towers in last two years against

requirement of 0.1mn sites. The industry body also ascribed call drop issue to heavy

usage of data on mobile phones in the "absence" of alternative infrastructure to support

growing data demand.

Smart strategies for PEs Investing in Real Estate -: Private Equity funds, famously

known as PEs are invested heavily in the Indian real estate. Even though the sector is

emerging only gradually from its slowdown, this could be the golden period of PE

investments to invest further, as the opportunities being offered are humungous.

FM expects GDP growth in range of 7-7.5% in FY16 -: Finance Minister Arun Jaitley

said that it expect GDP growth in range Of 7-7.5% In FY16. The growth in private sector

key to economic growth. We hope to stick to fiscal deficit target of 3.9% in FY16, says

FM. He reported that IMF has been lowering estimates of global growth.

GST is a game changing reform: Arvind Subramanian - Chief Economic Adviser

Arvind Subramanian reportedly said the spate of reforms in direct and indirect taxes will

help India transform into an efficient and clean system. Simplifying and eliminate

corporate taxes as well as cleaning up of legacy issues will continue going forward,

Arvind Subramanian was quoted as saying. Arvind Subramanian reported "We can really

change the image of the country which was until recently practicing tax terrorism to one

which really has a clean, efficient, modern broad-based tax system for the future.

After 9 years, Fed finally hikes interest rates - After 9 years, the Federal Reserve has

hiked interest rates indicating that the US economy is in better shape recovering from the

damage of the 2007-2009 financial crisis.

The US central bank's policy-setting committee raised the range of its benchmark interest

rate by a quarter of a per centage point to between 0.25 per cent and 0.50 per cent.

Arun Jaitley renews call to remove hurdles in road to GST - Indian industry – FICCI,

CII, ASSOCHAM and PHDCCI and trade represented by the Confederation of All India

Traders, today rose as one voice, giving a clarion call to all political parties to pass the

long pending Constitution Amendment Bill to give effect to the Goods & Services Tax in

the current session of Parliament so that the game-changing tax reform measure can come

into force at the earliest. A resolution to this effect was adopted by a voice vote by a

packed-to-capacity Convention Hall of Hotel Ashok here at an interactive session with

Arun Jaitley, Union Minister for Finance and Corporate Affairs, on „GST in India.

Government auctioned 31 Coal Mines: Piyush Goyal - Under the provisions of the

Coal Mines Act, 2015, the Central Government has successfully auctioned 31 Coal

Mines. This was stated by Piyush Goyal, Minister of State for Power, Coal & New and

Renewable Energy in a written reply to a question in the Lok Sabha.

US Federal Reserve decision underlines strong macroeconomic fundamentals of the

Indian Economy: FM - The US Federal Reserve raised the target range for the federal

funds rate by 25 to 50 bps yesterday. Responding to the said decision of the Federal

Reserve, the Finance Ministry states that this marks the beginning of gradual withdrawal

of the accommodative monetary policy stand adopted since 2006. Going forward, the

actions of the US Federal Reserve are expected to be cautious and data driven. The

Ministry in a Statement here further stated that the Indian Stocks and Forex Markets have

reacted well. Both the benchmark market indices actually rose in early trade today and

continue to trade in the green.

TOP CORPORATE NEWS -

Coal India Ltd. -: Opposing an immediate stake sale in Coal India Ltd, foreign investors

have told the Finance Ministry that further disinvestment in the coal miner should be put

off as the current market valuation is low.

Indian Oil Corporation Limited -: IOC will invest Rs 1.75 Lakh Crore over the next

seven years on expanding refinery capacity, building petrochemical plants and laying

pipelines.

Cairn india Ltd. -: Cairn India is set to launch the world's largest enhanced oil recovery

programme, investing about $760mn in the site where its first oil was discovered in the

Thar desert of Rajasthan.

Tata Power Company Ltd. -: Tata Power said its 120-MW joint venture Itezhi Tezhi

Hydro Power Project in Zambia has received Clean Development Mechanism nod from

United Nations Framework Convention on Climate Change.

IL&FS Engineering and Construction Company Limited -: IL&FS Engineering and

Construction Company Ltd has received a Letter of Acceptance from Metro-Link Express

for Gandhinagar and Ahmedabad Company Ltd for the construction of a viaduct corridor.

Tech Mahindra Limited -: Tech Mahindra, a listed subsidiary of Mahindra & Mahindra,

has agreed to acquire Italian car designer Pininfarina SpA, which has designed cars for

Ferrari, Maserati, Rolls-Royce and Cadillac.

Aurobindo Pharma Ltd. - Aurobindo Pharma said it has received final approval from

the USFDA to manufacture and market two drugs used for treating diarrhoea and allergy.

Jet Airways Ltd. -: Jet Airways India's second biggest airline by marketshare, Monday

announced it will shift its western hub to Amsterdam from Brussels, aligning operations

with strategic partner Etihad Airways.

Reliance Communications -: RCom. impending deal for tower asset sale would lower

its consolidated debt by 60 per cent, a report by CLSA said today.

Infosys Ltd. -: Infosys is planning to partner with Silicon Valley's storied venture capital

firm 500 Startups by investing in one of its funds.

HDFC - HDFC has agreed to sell 12,33,57,262 equity shares of Rs .10 each of HDFC

ERGO General Insurance Company, a subsidiary of HDFC, representing 22.92% of

HDFC ERGO's issued and paid up capital to ERGO International AG, Dusseldorf at a

price of Rs 90.973 per share).

Natco Pharma Limited -: Natco Pharma has got approval from the Drugs Controller

General of India to sell generic version of Daclatasvir, which is used for treatment of

chronic hepatitis C.

Tata Steel Ltd. -: Tata Steel said it has launched two new innovative products - a high

strength variant of steel hollow sections called Tata Structura 355, which has an enhanced

yield strength and an additional variant with fire-resistance properties.

PowerGrid Corporation of India - The RBI has now allowed foreign institutional

investors and registered foreign portfolio investors to buy more shares of PowerGrid

Corporation of India.

Adani Group -: An Australian court rejected a bid by environmentalists to stop Adani

Group‟s 16.5bn dollar controversy- hit coal mine project, but said that the firm has

exaggerated the economic benefits including the amount of jobs and royalties.

Reliance Infra - Anil Ambani-led Reliance Infrastructure has acquired an additional 17%

stake in Pipavav Defence for an estimated Rs. 850 crore through an open offer..

Tata Consultancy Services Ltd. - TCS announced signing a multi-year, multi-million

dollar contract with German carrier Lufthansa. As part of the deal, TCS will provide

testing services and help improve the quality of services of the airline's technology

operations.

ONGC Ltd. - A one-man committee has been constituted to look into acts of omission

and commission and recommend compensation to ONGC whose natural gas from Bay of

Bengal block had flowed to adjoining fields of Reliance Industries.

Coal India Ltd. - Coal India has decided to become the title sponsor of the 2016 season

of the Hockey India League. With the first game of the season commencing from January

next year, the company will be spending about Rs. 147.3mn as sponsorship payment.

Reliance Communication Ltd. - Vodafone and Reliance Communications are likely to

sign 3G and 2G intra-circle roaming agreements across five circles, including Bihar, West

Bengal and Odisha. The two companies are also in advanced talks to share 3G spectrum

in Delhi and Mumbai in order to reduce their operational expenses as well as improve

quality of service.

State Bank Of India - SBI said a meeting of its Committee of Directors is scheduled on

December 21 to discuss the modalities of raising equity capital, either in the domestic or

overseas markets or both, and also for mopping up additional non-equity capital by way

of bonds denominated either in dollars or rupees, as per media reports.

CESC Limited - The West Bengal Electricity Regulatory Commission has asked CESC

Ltd to map the existing generator sets in its command area in the city and its surroundings

for possible mitigation of sudden shortfall in available power in the grid through back-up

supply.

Maruti Suzuki India - Maruti Suzuki India Ltd has won shareholder approval to source

cars from a Gujarat plant to be built by parent Suzuki Motor, its chairman said.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

State Bank of India - SBI will issue EMV chip and pin based debit cards to its new

customers to ensure enhanced secure transactions. EMV chip and pin feature protects

against skimming and card transaction frauds. All SBI customers opening accounts with

the bank hence forth will receive this EMV chip and pin-based debit cards. Existing

customers can also request for upgrading their card by visiting their home branch against

payment of nominal fee", the bank said in a statement.

IndusInd Bank to expand investment banking division - IndusInd Bank Ltd. is

expanding its investment banking division with a focus on private equity and mergers &

acquisition advisory, The bank is in early talks with several global firms for potential tie-

ups to expand outbound advisory activities, says Roopa Satish, Country Head at IndusInd

Bank.“With the country witnessing increasing foreign institutional investment inflows,

and the expected recovery in the capital markets, we believe it is the right time to start the

advisory business,” according to Satish.

HDFC Bank bags FinanceAsia award for Best Equity Deal in Asia for 2015 - HDFC

Bank‟s equity offering to raise $1.6 billion through concurrent American Depository

Shares/Qualified Institutional Placement in February this year has been adjudged the Best

Equity Deal in Asia Award for 2015 by FinanceAsia.

Indian banks will get more resilient: Moody's - Growth in Indian banking system will

be more resilient, Moody's Investors Service reportedly said. Slower GDP growth is most

pronounced for small and open economies such as Taiwan, Singapore and Hong Kong,"

the rating agency said in a report. Report says that the operating environment is becoming

more challenging in most Asia-Pacific banking systems, according to Moody's.

RBI Pulls up Banks on Bad debts tag -Reserve Bank of India governor Raghuram

Rajan on Monday pulled up banks for lack of consistency in recognizing the same bad

loan among different lenders. The central bank has detected that some lenders have

continued to classify a loan as a standard asset even when their peers have made

provisions for bad debt.

United Bank of India to raise Rs. 1500 cr via Preferential Allotment - United Bank of

India has announced that at the meeting of the Board of Director scheduled to be held on

December 18, 2015, the proposal to raise Equity Capital by Preferential Allotment up to

Rs. 1500cr including premium to the President of India on behalf of the Central

Government or Life Insurance Corporation of India or funds therefore such other

investors as may be decided provided that the Central Government holding at any time

shall not fall below 51% of the equity capital of the Bank, shall inter-alia be taken up for

consideration.

RBI announces marginal cost of funds methodology for Interest rate on Advances -

The Reserve Bank of India released the final guidelines on computing interest rates on

advances based on the marginal cost of funds. The guidelines come into effect from April

1, 2016. Apart from helping improve the transmission of policy rates into the lending

rates of banks, these measures are expected to improve transparency in the methodology

followed by banks for determining interest rates on advances.

China, US rates pressures build for APAC Banks in 2016: Fitch - Banking sectors

within the Asia-Pacific region are likely to face a more challenging year ahead as

financial systems adjust to slowing growth in China and the higher US interest rates, says

Fitch Ratings in the agency's 2016 Outlook Report for the region.

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