NIFTY FIFTY : - Last Week Nifty Index made an all time high of 9913 and closed at 9886. Infra Power and Banks were among the top sectors for the week. The Indian market rebounded from the day

2. TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Last Week Nifty Index made an all time high of 9913 and closed at 9886. Infra
Power and Banks were among the top sectors for the week. The Indian market rebounded from the day
low after plunge in WPI on last week trading sessions, which may again spur the rate cut hopes by the
RBI and it gained more momentum after some reports of Govt extending more sops to the export
sector amid ongoing strength in INR and some report of optimism over Indian economy, political
stability and Govt’s ongoing effort of incremental reform have boosted the sentiment, prompting for
more forced P-Note F&O short covering and some value buying. Last Day, Nifty Index made an all
time high of 9928 and closed at 9916 after making a low of 9895. The benchmark Index Nifty gave
away all its losses and closed at 9900 on Wednesday 19th July. The Index Opened at 9856 and made a
high of 9905.The Index closed 73 points up from its Tuesday’s close of 9827. Although Indian
benchmark Index Nifty is now eyeing for the 10k Mt’ Everest, valuations may be already quite
stretched and the Q1FY18 earnings may not help much this time also. There are various disturbing
signs that Indian/Global bull market cycle may be at its peak and going forward subdued earnings. The
benchmark Index Nifty opened at 9920 and made a high of 9922.50. The Index closed at 9873 after
making a low of 9863 Thursday trading session. Last Week Nifty Index made an all time high of 9928
and closed at 9915. Market is expected to move further with increase in quarterly earnings of most of
the companies. Time & Price action suggests that, Nifty has to sustain over 10005 area for further rally
towards 10050-10115 & 10195-10250 in the short term. On the flip side, sustaining below 9985-9960
area, Nifty index may fall towards 9905/9870-9820 & 9760- 9715 area in the short term.
BANK NIFTY : - Bank Nifty also made an all time high of 23965 last week and closed at 23938.PNB
up by 6.55%,ICICI Bank by 2.95%, State Bank 4.11%, Axis Bank 1.95% were among the top movers
in the Banking Index last Week. Bank Nifty also made an all time high 24299 last day and closed at
24257 after making a low of 24066. ICICI Bank PSB were among the movers in the Banking Index.
Bank Nifty made new all time high of 24181 Wednesday and closed at 24152. Reserve Bank of India
is expected to push for resolution of bad loans worth around Rs. 8 lakh crore by March 2019, a move
that could bring down the NPAs and improve the financial health of banks, a study by Assocham said.
Bank Nifty made fresh all time high of 24300 Friday and closed at 24257. The Index opened at 24153
and did not made new low. As of Now Bank Nifty has to sustain over 24350 area for further rally
towards 24500-24700 & 24875-25050 area in the near term. On the flip side, sustaining below 24250
area, Bank Nifty may fall towards 24150/24000-23900 & 23700-23500 area in the near term.
Monday 24 July 2017

3. TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY R2 R1 PP S1 S2
10152 9980 9894 9808 9636
WEEKLY R2 R1 PP S1 S2
10294 10022 9886 9750 9478
MONTHLY R2 R1 PP S1 S2
11044 10194 9769 9344 8494
BANK NIFTY
DAILY R2 R1 PP S1 S2
24442 24340 24289 24238 24136
WEEKLY R2 R1 PP S1 S2
25278 24506 24120 24734 23962
MONTHLY R2 R1 PP S1 S2
27609 25071 23802 23189 21264
MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS
NIFTY 9762 9617 9390 9061
BANK NIFTY 23754 23310 22499 21267
PARABOLIC SAR DAILY WEEKLY MONTHLY
NIFTY 9719 9472 8976
BANK NIFTY 23372 23015 20455

4. PATTERN FORMATION ( NIFTY )
Detail of Chart - The Nifty closed the week on a bullish note. It has been closing above the 5 day
moving average for last two weeks. In this rally, , we can see that Nifty has consolidated after every 200-
400 points of rallies. Hence there is possibility of consolidation next week. But, that will happen if market
suddenly goes sideways or price closes below 5 day moving average which presently stand at approx.
9878 or below middle Band of Bollinger Band, which presently stands at approx 9753. Simultaneously
we have to look-out for hourly CCI going below 50, or daily CCI moving below 0 or fast stochastic and
RSI moving back to normal zone from overbought level. We should keep on looking for bearish
candlestick reversal pattern formation in daily chart. On the other hand there is a good possibility that the
market may continue the uptrend and move higher towards psychologically important 10000-10120 level
in Nifty.

5. PATTERN FORMATION ( BANK NIFTY )
Detail of Chart -Bank Nifty opened on Monday with a gap up, breaking out from the small consolidation
range. Then Bank Nifty retraced to 23512 which was close to hourly mid Bollinger line and from there
rallied around approx. 200 points. Then again price retraced towards 34 hourly moving average and
bounced again (approx 23520 to 23940). Then again on Friday, Bank Nifty came near to hourly mid-
Bollinger line approx 23736 and bounced 180-200 points by day end. So, even Bank Nifty was very much
trending this week and gave multiple opportunities based on hourly support zones. There is a possibility
that Bank Nifty breaks out next week above previous resistance zone. Daily CCI has moved above 100
and daily fast RSI is in overbought zone. If that happens Bank Nifty may move towards approx. 24425
which is 100% projection of last up move from approx. to approx. 23898, projected from recent low
approx. 22996. On the downside 20 dma and 34 dma may act as a support in 23480-23520 zone. Below
that, 50 dma, presently at approx. 23266, may act as a strong

6. NSE EQUITY DAILY LEVELS
COMPANY NAME R2 R1 PP S1 S2
ACC EQ 1755 1739 1724 1708 1693
ADANI PORTS EQ 392 388 385 381 378
AMBUJACEM EQ 272 270 267 265 262
ASIAN PAINT EQ 1166 159 1149 1142 1132
AXISBANK EQ 550 545 542 537 534
BAJAJ-AUTO EQ 2840 2829 2816 2805 2792
BANKBARODA EQ 167 165 163 161 159
BPCL EQ 475 470 467 462 459
IOC EQ 384 381 379 376 374
BHARTIARTL EQ 423 417 412 406 401
BOSCH LTD EQ 24297 24128 24001 23832 23705
BHARTI INFRATEL EQ 420 416 410 406 400
CIPLA EQ 581 575 568 562 555
COALINDIA EQ 267 265 263 261 259
DRREDDY EQ 2840 2794 2741 2695 2642
GAIL EQ 383 381 377 375 371
GRASIM EQ 1081 1070 1059 1048 1037
HCLTECH EQ 918 914 910 906 900
HDFC EQ 1656 1649 1640 1633 1624
HDFCBANK EQ 1760 1739 1717 1696 1674
HEROMOTOCORP EQ 3742 3717 3699 3674 3656
HINDALCO EQ 217 216 214 213 211
HINDUNILVR EQ 1170 1165 1160 1155 1150
ICICIBANK EQ 308 305 303 300 298
ITC EQ 299 295 292 288 285
INDUSIND BANK EQ 1574 1566 1558 1550 1542
INFY EQ 1002 998 994 990 988
INDIABULLS HOUSING fINANCEEQ 1162 1153 1143 1134 1124
KOTAKBANK EQ 1016 1004 998 994 899
LT EQ 1185 1181 1176 1172 1167
M&M EQ 1400 1392 1384 1376 1368
MRF EQ 69523 69273 69090 68840 68657
MARUTI SUZUKI EQ 7594 7576 7535 7517 7476
ONGC EQ 168 166 164 162 160
NTPC EQ 167 165 163 161 158
RCOM EQ 25 25 24 24 23
RELCAPITAL EQ 662 657 652 647 642
RELIANCE EQ 1646 1629 1607 1590 1568
RELINFRA EQ 518 515 512 509 506
RPOWER EQ 44 44 43 43 42
SBIN EQ 296 293 292 289 288
SUNPHARMA EQ 581 578 574 571 567
TATA MOTORSDVR EQ 276 276 274 274 272
TCS EQ 2533 2521 2502 2490 2471
TATAMOTORS EQ 468 466 464 462 460
TATAPOWER EQ 84 84 83 83 82
TATASTEEL EQ 557 555 551 549 545
UNIONBANK EQ 158 156 154 152 150
YES BANK LIMITED EQ 1636 1609 1593 1566 1550
ZEEL EQ 567 561 553 547 539
ADANI PORTS EQ 392 388 385 381 378
AMBUJACEM EQ 272 270 267 265 262

7. TOP 15 ACHIEVERS // TOP 15 LOOSERS
SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
1 ITC LIMITED 325 293 - 9.73 %
2 ULTRATECH
CEM
4347 4199 - 3.42 %
3 NTPC 168 164 - 2.17 %
4 GAIL LIMITED 386 377 - 2.15 %
5 BHARTI
INFRATEL
418 410 - 2.07 %
6 TATA STEEL 559 550 - 1.75 %
7 INDUSIND BANK1581 1553 - 1.72 %
8 HEROMOTO
CORP
3764 3701 - 1.68 %
9 VEDANTA 269 265 - 1.50 %
10 HDFC LIMITED 1652 1634 - 1.07 %
11 ACC LIMITED 1747 1733 - 0.78 %
12 BHARAT PETRO 467 465 - 0.37 %
13 SBIN 293 292 - 0.32 %
14 TATA POWER 83 82 - 0.18 %
15 BAJAJ AUTO 2821 2819 0.05 %
SR.NO SCRIPT NAME PREV
CLOSE
CMP % CHANGE
1 WIPRO LIMITED 266 292
+ 9.44 %
2 COAL INDIA
LIMITED 247 263 + 6.48 %
3
AXIS BANK
LIMITED 510 542
+ 6.22 %
4
TCS 2395 2515 + 5.00 %
5 ZEEL 524 548
+ 4.70 %
6
HCL TECH 868 908 + 4.68 %
7 RELIANCE 1551 1622
+ 4.53 %
8
YES BNK LIMITED 1547 1599 + 3.33 %
9 HDFC BANK 1682 172
+ 2.79 %
10
CIPLA LIMITED 556 570 + 2.52 %
11 HINDALCO 209 214
+ 2.41 %
12
ASIAN PAINTS 1125 1149 + 2.11 %
13
TATA MOTORS
LTD 454 463
+ 2.10 %
14
BHARTI AIRTEL 408 415 + 1.79 %
15 IOC 373 379
+ 1.57 %

8. OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

9. NSE - WEEKLY NEWS LETTERS
✍ TOP UPDATES OF THE WEEK -
India's GDP could rise to about $8 trillion over next 15 years: Arvind Panagariya - India's GDP
could rise to about $ 8 trillion over the next 15 years if the country registers an economic growth of 8
per cent annually and come very close to eliminating abject poverty entirely, NITI Aayog Vice
Chairman Arvind Panagariya has said here. He said with that level of economic growth, living
standards and amenities that are taken for granted in the west will become accessible to a very large
part of the population in India in the coming 15 years. Today, the Indian economy is among the major
economies, the fastest growing economy, it has now left China behind. It grew in real dollars in the last
15 years ending 2016-17 about 9 per cent," Panagariya said. "Once we correct for the exchange rat, in
real dollars India's growth rate in the last 15 years has been about 9 per cent," he said at an interactive
multi-stakeholder panel hosted by India's Permanent Mission to the UN, the NITI Aayog and think-
tank Research and Information System for Developing Countries yesterday. He added that if one were
to "make a very conservative assumption that over the coming 15 years, India would grow eight per
cent GDP would rise from 2.3 trillion dollars today to close to about $ 8 trillion," with an average
income of over $ 5,000.
India likely to clock 7.5% growth this fiscal: Arvind Panagariya - India is likely to clock a 7.5 per
cent economic growth in the current fiscal, NITI Aayog Vice Chairman Arvind Panagariya has said,
even as he acknowledged that creation of "good jobs" in the country remains a big challenge. "For the
current fiscal year of 2017-18, I expect that we will be back to at least 7.5 per cent and as you get
towards the last quarter of the year probably we will begin to touch eight per cent. But the average for
the year would be about 7.5 per cent, Panagariya told, who had presented India's 'Voluntary National
Review Report on Implementation of Sustainable Development Goals' at the UN High Level Political
Forum on Sustainable Development 2017 last week, however, said that job creation in the country,
especially at the lower, semi-skilled level, "truly is the biggest challenge, probably bigger than growing
at eight per cent." He said it is unfortunate that India's better performing sectors such as automobile,
auto parts, engineering goods, petroleum refinery, pharmaceuticals and IT enabled services, are not
very employment-intensive. "All these are either very capital intensive or skill labour intensive. There
is a big need for good jobs at the lower, semi-skilled level. There we have got a big challenge," he said.
Indian banks need at least $2.8 bln extra provisioning for bankruptcy cases: India Ratings -
Indian banks taking 12 of the country's largest defaulters to bankruptcy court under a central bank
directive, will need to make additional provisioning of at least 180 billion rupees, India Ratings and

10. Research said on Tuesday. India Ratings, an affiliate of Fitch Ratings, estimated the current average
provisioning towards those 12 accounts at 42 percent, adding the extra provisioning needed would
reduce the profits of creditor banks by about a quarter in the financial year to March 2018. The
Reserve Bank of India last month asked creditor banks to begin insolvency proceedings against 12 of
the country's biggest loan defaulters, and subsequently mandated that the banks would need to make
provision for up to 50 percent of the amount of soured loans. The 12 companies account for 1.78
trillion rupees ($27.7 billion) in non-performing bank loans, according to RBI data.
GST win-win deal for all: Arun Jaitley - Finance Minister Arun Jaitley today described the Goods
and Services Tax as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring
down prices of goods. Pitching the GST as a measure beneficial for the country at a meeting of the BJP
parliamentary party attended by Prime Minister Narendra Modi, senior leaders and party MPs, Jaitley
said prices of goods has come down between four to eight per cent since its roll-out on July 1.
Parliamentary Affairs Minister Ananth Kumar briefed reporters about the meeting in which External
Affairs Minister Sushma Swaraj also informed parliamentarians about Modi's recent foreign visits,
especially to the US and Israel. The GST was in the interest of people and states as well as the latter
will get 80 per cent of the revenue leading to more development, Jaitley said. There was no longer tax
on tax and the transport of goods across the country was going unhindered now, he said. More than one
crore firms will be migrating to the new tax regime against around 80 lakh companies earlier, he said,
Kumar quoted him as saying. "Tax net has expanded. The country's market has been integrated.
Inspector raj is over. The tax burden on the masses has gone down. It is a win-win situation for all," the
finance minister said.
India's GDP could rise to about $8 trillion over next 15 years: Arvind Panagariya - India's GDP
could rise to about $ 8 trillion over the next 15 years if the country registers an economic growth of 8
per cent annually and come very close to eliminating abject poverty entirely, NITI Aayog Vice
Chairman Arvind Panagariya has said here. He said with that level of economic growth, living
standards and amenities that are taken for granted in the west will become accessible to a very large
part of the population in India in the coming 15 years. "Today, the Indian economy is among the major
economies, the fastest growing economy, it has now left China behind. It grew in real dollars in the last
15 years ending 2016-17 (at) about 9 per cent," Panagariya said. "Once we correct for the exchange
rate (changes), in real dollars India's growth rate in the last 15 years has been about 9 per cent," he said
at an interactive multi-stakeholder panel hosted by India's Permanent Mission to the UN, the NITI
Aayog and think-tank Research and Information System for Developing Countries.
✍ TOP ECONOMY NEWS
Inflation is expected to remain subdued on account of good monsoon and the inability of the industry

11. to raise prices, Assocham said. "Going forward, there could be some disruption for one or two
vegetables such as tomatoes but overall, the situation is going to remain quite comfortable for the
consumers at least till October-November," the chamber said in a statement.
India’s exports growth slowed to a four-month low in June while heavy buying of gold lifted imports,
causing a sharp spike in trade deficit from a year earlier, though the gap narrowed from the previous
month. Exports grew 4.39 per cent to $23.5 billion, while imports rose faster at 19 per cent to $36.5
billion, data from the commerce department showed, leaving a trade gap of about $12.9 billion in June,
compared with $8.1 billion in the year-earlier period and $13.84 billion in May. Gold imports doubled
from a year earlier to $2.4 billion. For the fiscal first quarter, trade deficit more than doubled to $40
billion from $19.2 billion a year earlier. “An unabated surge in imports of gold and precious stones
contributed to the wider-than-expected merchandise trade deficit of $13 billion in June 2017, even as
merchandise exports printed in line with expectations,” said Aditi Nayar, principal economist at ICRA.
India’s trade deficit narrowed in June after swelling to a 30-month high in May even as exports grew
slowly in the month. Exports grew 4.39%, a four-month low in the 10-months of continuous growth, to
$23.5 billion. Imports rose 19% to $36.5 billion leaving a trade gap of $12.9 billion in June. Trade
deficit was $8.1 billion in the year ago period and $13.84 billion in May. “Exports have been
exhibiting positive growth for the last nine months,” commerce and industry ministry said in a
statement on Friday.
Wholesale inflation eased to the slowest in 11 months in June, boosting hopes of an interest rate cut as
it comes after the pace of price rise at the retail level fell to a multiyear low and good monsoon rains
indicated that food prices would remain benign. Inflation, as measured by the Wholesale Price Index,
slowed to 0.9 per cent in June from 2.17 per cent in May, data from the commerce and industry
ministry showed on Friday.
Consumption growth in rural India was in double digits for the first time in two years and outpaced the
rate of expansion in cities, underpinned by higher farm income after last year's good monsoon rains
and minimal supply disruption in the run-up to the roll-out of the single producer levy. There's a
question-mark, however, on sustaining the growth momentum this quarter, as India's villages rely
heavily on wholesalers for stocking cookies, oils or toothpastes. . Many of these suppliers to tiny retail
outlets in far-flung villages are yet to register with the GST network. There has been a marked pickup
in rural demand over the past few months as sentiments have been upbeat on the back of good
monsoons last year and expectations of normal rains this year.
With the reconstitution of the overseeing committee for debt resolution by the RBI, industry players
expect speedy settlement of the non-performing assets of defaulters from the expanded list. This list

12. includes 488 companies, other than the 12 largest ones that were recommended by the central bank's
panel. Earlier this year, the RBI's internal advisory committee had prepared a list of 500 companies of
which 12 cases were to be sent directly to the National Company Law Tribunal. In the remaining 488
cases, banks were to finalise a resolution plan within six months.
The Supreme Court granted one week's time to the Reserve Bank of India to respond to a report of a
committee appointed to deal with bad loans with banks that have crossed Rs. 8 lakh crore.
Foreign investors have pushed in around Rs 11,000 crore in the capital markets in the first two weeks
of July, 2017, motivated by the rollout of GST and developing Indian economy. In the last five months
i.e. from February to June, the total inflow is of over Rs 1.62 lakh crore on several factors. While
foreign investors in January had pulled out over Rs 3,496 crore from debt markets. During July 3-14,
the FPIs have invested a net Rs 498 crore in equities, while around Rs 10,405 crore in the debt
markets, resulting in a net inflow of Rs 10,903 crore ($1.7 billion) as per the latest depository data.
Assocham, one of the apex trade associations of India, has forecasted that inflation would remain
subdued on account of good monsoon and the inability of the industry to raise prices, reported a
national news agency on Monday. "Going forward, there could be some disruption for one or two
vegetables such as tomatoes but overall, the situation is going to remain quite comfortable for the
consumers at least till October-November," said Assocham.
India is expected to achieve the projected growth rate of 7.4 per cent in 2017 and further up 7.6 per
cent next year on strong consumption demand, with South Asia leading the growth chart in Asia and
the Pacific, an ADB supplement report said. India will reclaim its position as the fastest growing major
global economy this year, partly propelled by benefits from a new tax system and bolstered by an
expected central bank interest rate cut, a Reuters poll showed.
The country's foreign exchange reserves rose by $2.681 billion to touch a new life-time high of
$389.059 billion in the week to July 14, helped by increase in foreign currency assets , RBI data
showed. In the previous week, the reserves had marginally declined by $161.9 million to $386.377
billion. FCAs, a major component of overall reserves, surged by $2.677 billion to $364.908 billion,
according to the RBI data.
Strong import growth in June points to continued recovery in India's domestic demand and indicates
that economic expansion will accelerate from the April-June quarter, says a Morgan Stanley report.
According to global financial services major, exports growth weakened sequentially for the fourth
consecutive month - but imports growth remained strong, pointing towards robust domestic demand

13. ✍ TOP CORPORATE NEWS -
Bajaj Finserv standalone revenue for the quarter registered a 32.6% yoy decline to Rs. 27.4 crores in
Q1FY18 from Rs. 40.63 crores in Q1FY17. The PAT for the quarter came in at Rs. 3.9 crores, yoy
decline of 76.6%. This was due to 97.3% yoy increase in energy generation expenses of 10.22 crores.
Total expenses increased 43.3% yoy to Rs. 22.5 crores in Q1FY18 from Rs. 15.7 crores in Q1FY17.
Canara Bank Q1FY18 results came in mixed versus street estimates. NII for the quarter was 3.8%
higher than street estimates of Rs.2613 crore. While, net profit for the quarter came 17.4% below the
street estimates of Rs.304 crore. Canara Bank saw 17.6% rise in its NII for Q1FY18 at Rs.2713 crore
vs Rs.2307 crore in previous year corresponding quarter. The interest earned for the bank was flat at
Rs.10195 crore in Q1FY18 vs Rs.10201 crore in Q1FY17.While Interest expended declined by 5.2%
yoy to Rs.7482 crore.
Cadila Healthcare Limited informed on Wednesday that the company has received the USFDA
approval to market Tranexamic Acid Injection, 1000 mg/10 ml single dose Vial. This Tranexamic Acid
Injection belongs to the class of medications called antifibrinolytic agents. The drug will be used to
prevent or reduce bleeding in patients with haemophilia undergoing tooth extraction.
Tata Cummins is likely to invest Rs 300 crore for upgrading engines to Bharat Stage 6 (BS-VI)
emission norms which will be enforced from April 1, 2020, reported a leading news agency. The
investment aims to develop BS-VI technology and expand its manufacturing facility in Phaltan, Pune.
The BS-VI complainant diesel engine will become almost pollution-free.
Bajaj Finance Limited Q1FY18 results registered a beat vs street estimate. The NII for the quarter
came in at 16.5% higher than the street estimate of Rs. 1778 crores. And, lastly Net profit for the
quarter was 7.5% higher vs the street estimate of Rs. 506 crores. The NII for the quarter grew by
48.4% YoY to Rs. 2072 crore. This was due to an increase in interest earned by 38% Y-o-Y as against
lower increase in interest expense by 22% Y-o-Y.
Havells IndiaLimited Q1FY18 standalone results for the quarter registered a miss versus street
estimates. Revenue for the quarter came in 1.2 % lower than the estimated figure of Rs. 1883 crore.
EBITDA for the quarter came in 22.6 % lower than the estimated figure of Rs. 219 crore. And lastly,
net profit for the quarter came in 18.4 % lower than the estimated figure of Rs. 148.7 crore. Havells
India’s standalone revenue for the quarter came in at Rs. 1861 crore, registering 26.9% yoy increase.
This was primarily due to additional revenue Rs. 267.2 crore derived from Llyod consumer division.

14. Adani Enterprise on Wednesday announced that it has incorporated a wholly-owned subsidiary
namely Gare Pelma III Colleries Ltd. Chhattisgarh State Power Generation Company has issued Letter
of Award to AEL for Gare Pelma III Coal Block on June 24, 2017.
Kotak Mahindra Bank reported its Q1FY18 results earlier today. It is the fourth largest Indian private
bank in terms of market capitalization. The banks result misses the street estimate on net profit . NII
was marginally higher than the estimated figure of Rs. 2240 crore. The Net profit came in 12.3%
below the estimated figure of Rs. 1041 crore.
The UltraTech Cement is planning to set up a Rs 2,600-crore new integrated cement plant with a
capacity of 3.5 million tonne per annum at Dhar in Madhya Pradesh. This plant will enhance its
capacity to 96.5 mt by the FY2018-19.
ACC Limited Q2CY17 consolidated results for the quarter registered a beat on street estimates.
Revenue for the quarter came in 6.1 % higher than the estimated figure of Rs. 3255 crore. EBITDA for
the quarter came in 27.1 % higher than the estimated figure of Rs. 501 crore. And lastly, net profit for
the quarter came in 15.7 % higher than the estimated figure of Rs. 282 crore.
ABB India Limited Q2CY17 standalone results for the quarter registered a miss versus consensus
estimates. Revenue for the quarter came in 1.5 % higher than the estimated figure of Rs. 2295 crore.
EBITDA for the quarter came in 22.6 % lower than the estimated figure of Rs. 198 crore. And lastly,
net profit for the quarter came in 22.8 % lower than the estimated figure of Rs. 97.2 crore.
Bajaj Auto Limited Q1FY18 consolidated results for the quarter registered a miss versus street
estimates. EBITDA for the quarter came in 5.7% lower than the estimated figure of Rs. 1075 crore.
Net profit for the quarter came in 8.1% lower than the estimated figure of Rs. 910 crore.
Ramco System Limited announced on Thursday that the company has received an order for its
Aviation MRO software solutions from Panasonic Avionics Corporation. This order is to be provided
to a Fortune 200, a leading aerospace company that designs, manufactures, deploys and supports
commercial aviation products for more than 300 Airlines in the world.
ZEE Entertainment Enterprise is in talks to buy 9X Media, which owns a number of hindi and
regional music channels, and the deal could be announced this month, reported a national daily. The
deal could be in the range of Rs 180-200 crore. As per market observers, the acquisition of 9X Media
will make strategic sense for Zee, which is investing in films and music business and has radio
business following the group’s acquisition of 49% stakes in Big FM.

15. Inox Wind Limited is very much sure of executing of its 250 MW wind energy project in Gujarat
which it has achieved in the auctions in spite of the ongoing litigation at the National Company Law
Tribunal, reported by a national business daily.
Just Dial stock jumped 7.7% to Rs. 382.00 per share as the company plans to buy back its shares. The
stock also breached its upper circuit of Rs. 389.85 per share, on BSE. The stock also witnessed a spurt
in volume by more than 4.14 times. The board of Just Dial on Wednesday announced a proposal to buy
back equity shares on July 24, 2017. The company has a profit growth of 32.75% over five years and
on a yearly basis, the stock has lost 30.78% in its share price.
DIVI'S LABORATORIES LTD.'s Q1FY18 standalone results for the quarter registered a miss versus
consensus estimates. Revenue for the quarter came in 19.3 % lower than the estimated figure of Rs.
1018 crore. EBITDA for the quarter came in 21.8 % lower than the estimated figure of Rs. 354 crore.
And lastly, net profit for the quarter came in 31.6 % lower than the estimated figure of Rs. 258.1 crore.
DIVI'S LABORATORIES LTD. standalone revenue for the quarter came in at Rs. 821 crore,
registering 19.3% yoy decline.
Lupin Limited, a pharmaceutical company, announced the successful completion of a PAI inspection
carried out by the USFDA at its Goa manufacturing facility without any observations, on Friday. This
inspection was started on July 17, 2017.
Ashok Leyland Q1FY18 standalone results for the quarter came in mixed versus street estimates.
Revenue for the quarter came in 12.9 % higher than the estimated figure of Rs. 3997 crore. EBITDA
for the quarter came in 22.2 % higher than the estimated figure of Rs. 364 crore. And lastly, net profit
for the quarter came in 25.8 % lower than the estimated figure of Rs. 162 crore. Ashok Leyland
standalone revenue for the quarter came in at Rs. 4514 crore, registering 0.4% yoy decline.
✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
Bank of India’s new chief has launched Project Connect, an initiative to revive the bank that has
suffered huge losses for two consecutive years due to a sharp rise in bad loans. It is called Project
Connect because the Connect between internal staff and clients is not as strong as it was in olden days.
So, many accounts are poached by other banks,” Dinabandhu Mohapatra, MD & CEO of the state-
owned bank, told. He said the new initiatives are aimed at reducing bad loans, improving the share of
low cost deposits and retail credit.
Emboldened by the Banking Regulation Ordinance, the RBI is expected to push for resolution of bad

16. loans worth around Rs 8 lakh crore by March 2019, a move that could bring down the NPAs and
improve the financial health of banks, a study by Assocham said. "So, it should be safe to assume that
the non-performing assets mess would largely be resolved by the first quarter of financial year 2019-
20," Assocham study titled 'NPAs Resolution: Light at the end of tunnel by March 2019' said.
One-time settlement of dues by defaulters may rise in the next few months as banks’ aggressive move
to recover loans and the Reserve Bank of India’s push to make bankruptcy courts the central
mechanism for recoveries could lead to some promoters losing their businesses. This would also
ensure that banks don’t clog the bankruptcy courts with cases where the default amount is not high.
People familiar with the development said banks have begun aggressively negotiating one-time
settlement on the insistence of the finance ministry and the central bank, which want speedy clean-up
of bank balance sheets.
Amid majority of farmers stopping loan repayments, a Punjab government-appointed expert panel will
meet bankers for the first time here on July 25 to seek suggestions on debt waiver. The meeting
between the panel on loan waiver and bankers assumes significance as Congress led government was
facing mounting pressure to implement the debt waiver, a key poll promise. The expert panel will meet
representatives of several banks here in connection with the debt waiver issue, a senior official of the
Punjab National Bank said.
Despite increasing number of students not paying back their loans spiking NPAs to over 10 per cent,
lending continues for higher education with the disbursals topping Rs 20,000 crore in fiscal 2017,
according to a report. Banks and other lenders together disbursed around Rs 20,000 crore in education
loans in FY17, up from around Rs 17,000 crore a year ago, while total outstanding grew 1.6 per cent to
Rs 81,600 crore. NPAs within the education loan book of the system ballooned 21 per cent in the
reporting year, spiking the NPA ratio to 10.2 per cent as of March 2017, said a report by credit
information company Crif High Mark.

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