NIFTY FIFTY : - Indian Benchmark Index Nifty had a negative last week which was the result of a combination of local and Global factors. The local being, currency notes reforms initiated by the
government which is bringing in temporary pain to the economy and thereby affecting sentiments.
The Market has opened in negative bias on Monday with 50 Shares
Index Nifty 50 down by 55 points or 0.67 percent at 8115. A Global Equities rally and a
Brexit fear helped the Market stave off the pessimism surrounding.
NIFTY FIFTY : - The Indian market ended the week on a soft Note, As Market were taken off on the News of the US FOMC meeting or ahead of US elections on 8 Nov. The Indian Equity
benchmark Nifty opened in Positive Note on Monday up by 28 points or 0.32 per cent at 8653.
NIFTY FIFTY : - NIFTY - The Equity benchmark Nifty opened in a Positive Note on Monday up by 16 points or 0.18 per cent at 8709. Benchmark Nifty closed on a Positive note on last
week. The Nifty Index Retesting Long -Term trend line breakout around 8740 levels on
NIFTY FIFTY : - The Equity benchmark Nifty opened flat on Monday down by 5 points or 0.05 percent at 8710. After a splendid rally last week that pushed Nifty towards 9000
levels, profit booking was seen on the last trading day with both banking as well as IT
NIFTY FIFTY : The Market has Opened in a Negative bias on Monday the 50 Share Index Nifty 50 opened 49 points below or 0.60 Percent of its last closing at 8039. The
Uncertainty over the Consequence of the Britain Exit referendum still hang over investors
CNX NIFTY - The Nifty Future is open on Monday 7732.95 The market took a sharp beating in post lunch trade triggered by sell-off in option futures. Traded between 7700-7800. On Wednesday Nifty tumbled below 7750 as fears of further downtrend seized trader.
A nervous Dalal Street dreads a selloff by FIIs on BJP's Bihar defeat - Bharatiya Janata Party (BJP)'s disappointing show in the Bihar elections may not go down well with investors in the near future.
NIFTY FIFTY : - Indian Markets witnessed magnificent rally on Friday on the back of rate cut hopes from RBI's Monetary Policy review due in December. Index Nifty saw a sharp upside rally of 132 points
from a low of 8006 to make a high of 8138 and finally closed at 8118. The Nifty open in a Negative note
The Market has opened in negative bias on Monday with 50 Shares
Index Nifty 50 down by 55 points or 0.67 percent at 8115. A Global Equities rally and a
Brexit fear helped the Market stave off the pessimism surrounding.
NIFTY FIFTY : - The Indian market ended the week on a soft Note, As Market were taken off on the News of the US FOMC meeting or ahead of US elections on 8 Nov. The Indian Equity
benchmark Nifty opened in Positive Note on Monday up by 28 points or 0.32 per cent at 8653.
NIFTY FIFTY : - NIFTY - The Equity benchmark Nifty opened in a Positive Note on Monday up by 16 points or 0.18 per cent at 8709. Benchmark Nifty closed on a Positive note on last
week. The Nifty Index Retesting Long -Term trend line breakout around 8740 levels on
NIFTY FIFTY : - The Equity benchmark Nifty opened flat on Monday down by 5 points or 0.05 percent at 8710. After a splendid rally last week that pushed Nifty towards 9000
levels, profit booking was seen on the last trading day with both banking as well as IT
NIFTY FIFTY : The Market has Opened in a Negative bias on Monday the 50 Share Index Nifty 50 opened 49 points below or 0.60 Percent of its last closing at 8039. The
Uncertainty over the Consequence of the Britain Exit referendum still hang over investors
CNX NIFTY - The Nifty Future is open on Monday 7732.95 The market took a sharp beating in post lunch trade triggered by sell-off in option futures. Traded between 7700-7800. On Wednesday Nifty tumbled below 7750 as fears of further downtrend seized trader.
A nervous Dalal Street dreads a selloff by FIIs on BJP's Bihar defeat - Bharatiya Janata Party (BJP)'s disappointing show in the Bihar elections may not go down well with investors in the near future.
NIFTY FIFTY : - Indian Markets witnessed magnificent rally on Friday on the back of rate cut hopes from RBI's Monetary Policy review due in December. Index Nifty saw a sharp upside rally of 132 points
from a low of 8006 to make a high of 8138 and finally closed at 8118. The Nifty open in a Negative note
CNX NIFTY - Markets recorded their weekly gain in this week, with the Nifty opening up for second week on Monday at 7869 after long time undervalued of index at 7750-7800. We witnessed a spirited recovery around
8000-8100 level helped by short covering as well as value buying.
NIFTY FIFTY : The Equity benchmark open in a Positive note on Monday. The 50 Shares Nifty up by 48 points or 0.57 percent at 8376 or Above its Crucial Level of 8350.
The one of the key drivers of the rally in Domestic Market has been the Spread and
NIFTY FIFTY : - NIFTY - Last Trading session of previous week Nifty 50 fell by 0.52%, the index opened at 9226 made high of 9246 and closed at 9151 after making low of 9145. As Government released Industrial
production data for the month of Feb at - 1.20% where expectation was 1.3% and January IIP Numbers were at
NIFTY FIFTY : - Last Week Equity benchmark Nifty traded in a range of 141 points between 8264 and 8123. As per expected line the Federal Reserve raised its benchmark interest rate by 25 basis points and Global Markets welcomed the move.
NIFTY FIFTY : - The Market opened gap up after an extended Weekend and Sustainedabove 8900 throughout the day’s trading Session. The 50 Shares Index Nifty 50 Opened
at 8852 up by 43 points or 0.48 per cent.
NIFTY FIFTY : - The Indian Equity benchmark Nifty 50 opened in a positive note on Monday up by 29 points or 0.33 per cent at 8612. Benchmark Index Nifty traded in a very
small range of 48 points on Friday, Nifty has taken support of its two month's low of
The Market has opened sharply higher on Monday with the Nifty raise more than 58 points or 0.7 per cent. Crude oil prices tumbled some 5 per cent early Monday after the failure of talks between the oil exporting countries in Doha shown result
in return of some risk off sentiment, impacted the market.
NIFTY FIFTY : - Last week Equity Market witnessed one of the historic events in the Indian Economy where after the emonetization, markets were keenly expecting a minimum of 25 bps rate cut. But, to surprise
all, Reserve Bank of India kept the stance unchanged shocking the markets on Wednesday. The Indian Equity
NIFTY FIFTY : - Equity Benchmark Index Nifty 50 opened on a Strong note on Monday trading Session up
by 107 point’s or 1.16 per cent from its last closing at 9225. Last Friday Nifty fell by 63 points to close Near
9197 level. This was the biggest fall in one day in recent past, As we all know that the Market can Not Run one
NIFTY FIFTY : - In the last two days of trading session of last week, FII’s have build short positions for 108617 contract in Options segment. In cash segment both FII’s and DII’s remain net seller for 102 crore in last
two trading sessions. Indian benchmark Index Nifty 50 erased early gains to end flat on Friday as Political
The Market started off week on a flat-to-positive note. The Nifty
advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of market-moving economic data due this week.
The equity benchmark has opened in a Positive bias on Monday with 50Shares Nifty50 up 90 points or 1.05 per cent at 8413. The Nifty50 reclaimed its Crucial level of 8400 for the first time in last 10 Month.
NIFTY FIFTY : - The market has kick-started in the Minor weak trend on monday Nifty was down 16.30points or 0.2 percent at 7745.65. The mixed trend seen in Asian markets.The fall in the Indexes Followed losses on Wall Street that shed 2 per cent on last Friday after crude oil prices hit their fresh seven-year
lows.
The market has opened on a strong note Monday. The Nifty is up 51 points or 0.7 percent at 7561. Equity benchmarks remained strong in morning trade following positive global cues.
The Market has kick started the week on a strong note supported by Index heavyweight.
The Nifty is up 50 points or 0.7 per cent at 7784. Asian stocks open mixed, as oil prices rallied on supply
outages in Canada.
NIFTY FIFTY : - The benchmark Index Nifty closed at 8794 after making low of 8771 and a high of 8822 on Last Friday trading session. Nifty traded in a small range of 50 points throughout the day. The equity
benchmark Nifty opened in a positive note on Monday up by 26 points or 0.29 per cent at 8819. Indian
NIFTY FIFTY : - Indian Benchmark Index Nifty on Friday closed at 8898 after making low of 8860, the index made a high of 8907 after opening at 8884. From last 2 week Nifty Index fell almost 1.05% from high of 8993.
NIFTY FIFTY : - The Equity benchmark Nifty50 has opened flat basis on Monday up by 1 point at 8667. Nifty had a luck-luster movement last week where it moved in a narrow band of 125 points.
NIFTY FIFTY : - Last Week, The Nifty index opened at 9588 and closed at 9666 after making high of 9700. Top performing sectors for last week was FMCG-Food, Metals & Mining and Infra- Construction Engineering and Material
and Realty. Last Day, The Indian Benchmark Index Nifty made record high of 9782 and closed at 9771. Infra Power,
CNX NIFTY - Markets recorded their weekly gain in this week, with the Nifty opening up for second week on Monday at 7869 after long time undervalued of index at 7750-7800. We witnessed a spirited recovery around
8000-8100 level helped by short covering as well as value buying.
NIFTY FIFTY : The Equity benchmark open in a Positive note on Monday. The 50 Shares Nifty up by 48 points or 0.57 percent at 8376 or Above its Crucial Level of 8350.
The one of the key drivers of the rally in Domestic Market has been the Spread and
NIFTY FIFTY : - NIFTY - Last Trading session of previous week Nifty 50 fell by 0.52%, the index opened at 9226 made high of 9246 and closed at 9151 after making low of 9145. As Government released Industrial
production data for the month of Feb at - 1.20% where expectation was 1.3% and January IIP Numbers were at
NIFTY FIFTY : - Last Week Equity benchmark Nifty traded in a range of 141 points between 8264 and 8123. As per expected line the Federal Reserve raised its benchmark interest rate by 25 basis points and Global Markets welcomed the move.
NIFTY FIFTY : - The Market opened gap up after an extended Weekend and Sustainedabove 8900 throughout the day’s trading Session. The 50 Shares Index Nifty 50 Opened
at 8852 up by 43 points or 0.48 per cent.
NIFTY FIFTY : - The Indian Equity benchmark Nifty 50 opened in a positive note on Monday up by 29 points or 0.33 per cent at 8612. Benchmark Index Nifty traded in a very
small range of 48 points on Friday, Nifty has taken support of its two month's low of
The Market has opened sharply higher on Monday with the Nifty raise more than 58 points or 0.7 per cent. Crude oil prices tumbled some 5 per cent early Monday after the failure of talks between the oil exporting countries in Doha shown result
in return of some risk off sentiment, impacted the market.
NIFTY FIFTY : - Last week Equity Market witnessed one of the historic events in the Indian Economy where after the emonetization, markets were keenly expecting a minimum of 25 bps rate cut. But, to surprise
all, Reserve Bank of India kept the stance unchanged shocking the markets on Wednesday. The Indian Equity
NIFTY FIFTY : - Equity Benchmark Index Nifty 50 opened on a Strong note on Monday trading Session up
by 107 point’s or 1.16 per cent from its last closing at 9225. Last Friday Nifty fell by 63 points to close Near
9197 level. This was the biggest fall in one day in recent past, As we all know that the Market can Not Run one
NIFTY FIFTY : - In the last two days of trading session of last week, FII’s have build short positions for 108617 contract in Options segment. In cash segment both FII’s and DII’s remain net seller for 102 crore in last
two trading sessions. Indian benchmark Index Nifty 50 erased early gains to end flat on Friday as Political
The Market started off week on a flat-to-positive note. The Nifty
advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of market-moving economic data due this week.
The equity benchmark has opened in a Positive bias on Monday with 50Shares Nifty50 up 90 points or 1.05 per cent at 8413. The Nifty50 reclaimed its Crucial level of 8400 for the first time in last 10 Month.
NIFTY FIFTY : - The market has kick-started in the Minor weak trend on monday Nifty was down 16.30points or 0.2 percent at 7745.65. The mixed trend seen in Asian markets.The fall in the Indexes Followed losses on Wall Street that shed 2 per cent on last Friday after crude oil prices hit their fresh seven-year
lows.
The market has opened on a strong note Monday. The Nifty is up 51 points or 0.7 percent at 7561. Equity benchmarks remained strong in morning trade following positive global cues.
The Market has kick started the week on a strong note supported by Index heavyweight.
The Nifty is up 50 points or 0.7 per cent at 7784. Asian stocks open mixed, as oil prices rallied on supply
outages in Canada.
NIFTY FIFTY : - The benchmark Index Nifty closed at 8794 after making low of 8771 and a high of 8822 on Last Friday trading session. Nifty traded in a small range of 50 points throughout the day. The equity
benchmark Nifty opened in a positive note on Monday up by 26 points or 0.29 per cent at 8819. Indian
NIFTY FIFTY : - Indian Benchmark Index Nifty on Friday closed at 8898 after making low of 8860, the index made a high of 8907 after opening at 8884. From last 2 week Nifty Index fell almost 1.05% from high of 8993.
NIFTY FIFTY : - The Equity benchmark Nifty50 has opened flat basis on Monday up by 1 point at 8667. Nifty had a luck-luster movement last week where it moved in a narrow band of 125 points.
NIFTY FIFTY : - Last Week, The Nifty index opened at 9588 and closed at 9666 after making high of 9700. Top performing sectors for last week was FMCG-Food, Metals & Mining and Infra- Construction Engineering and Material
and Realty. Last Day, The Indian Benchmark Index Nifty made record high of 9782 and closed at 9771. Infra Power,
NIFTY FIFTY : -Nifty gave euphoric buying of 3.94% from its low of 7896 in last 4 days of trading session for the year 2016. Indian benchmark index Nifty is opened unchanged at 8175 and with major global markets
closed for the day. The Equity benchmark Nifty opened in a Positive note on Monday up by 25 points or 0.30
Benchmark Index Nifty completed its weekly target of 8288 and made high of 8307. Nifty showed profit booking on last day of the week and was down by 0.36% on last Friday. On Friday, Nifty Spot
opened at 8283 and made a high of 8306, achieving its target of 8288. Nifty then corrected for the day to make a
The equity benchmark has opened in a Positive bias on Monday with 50 Shares Nifty50 up 90 points or 1.05 per cent at 8413. The Nifty50 reclaimed its Crucial level of 8400 for the first time in last 10 Month.
U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for vironmentalists who campaigned against the project for
more than seven years.
: The Market has opened in Green on Monday, The Nifty up by 8 point or
0.12 per cent at 8228 but below its crucial level of 8250. The US Job creation tumbled in
may, U
The benchmark Nifty 50 opened on flat basis on Monday down by 2 points at 8670. On Monday the Nifty closed almost flat as inflation spike dashed
immediate October rate cut hopes by RBI, As we have seen the Nifty 50 remained
NIFTY FIFTY : - The Indian Benchmark Index, Nifty fell 2.12% for the week ended 11 Nov 2016. Volatility was the order of the week with the panic gap down low of 8076 being made on Wednesday on 9th Nov. Morning as it suffered from the double whammy
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.
The Market has started flat on Tuesday but soon gained strenght. The Nifty hit 7500, up 16.55 points. Most Asian markets were trading lower , We have seen a big move in markets in a very short period of time. With some choppiness, and the kind of intraday pullbacks we have had in the past couple of days, there is a good chance that we will see higher levels. it is looking at rallies that possibly heading towards 7,680-7,700 level.
The market has kick-started the week with mild gains. The Nifty down 4.50 points at 7894.80. Global developments and F&O expiry on Thursday keep the market volatile, Nifty managed to hit a four-month high in this week’s trade, but failed to sustain as traders turned cautious after a staggering rally in last two months.
NIFTY FIFTY : - The Equity benchmark Nifty 50 opened in a positive note on Monday up by 38 points or 0.43 per cent at 8735. The benchmark Index Nifty did not show any
clear movement last week after testing 8800 levels, it corrected by 100 points on low
NIFTY FIFTY : - The Equity benchmark Nifty 50 opened in a Negative bias on Monday down by 24 points or 0.26 per cent at 8807. Nifty was positive for the last week despite
Friday’s selling. The benchmark Nifty has a major Support of 8790 which the index is
Similar to Equity Research Report 28 November 2016 Ways2Capital (14)
Gold in the European market settled on Monday near the highest in a week sup-ported by the decline of the US dollar against a basket of currencies and thanks to this decline prices on
The Indian Equity market remained remained positive throughout last week as the indices posted a gain of 1.6 percent each largely supported by metal, auto, energy and infra stocks. The Nifty50 index managed to close above 11,000 for the first time since September 2018. Nifty gained 172 points in the truncated week ended March 8. On a weekly basis, the rupee rose over 1
Gold prices continued to fall on Monday dropping through the 1,290 level. The dol-lar continued to gain ground early despite the comment from President Trump that he does not want to see a stronger greenback. Late in the trading session the dollar
The Indian Equity market remained volatile in February weighed down by Indo-Pak tensions, US-China trade war concerns, rise in crude oil prices, concerns regarding lenders selling pledged shares, weak GDP data as well as mixed earnings from India Inc. The index was below its crucial psychological levels of 11000. The index fell down 0.36 percent in February. But in last week of
On Wednesday spot gold prices declined 0.13 percent to close at $1266.9 per ounce amid concerns about global economic growth and a partial U.S. government shut down although a rebound in investor risk appetite in the previous session lim-
After a weak start for a truncated week, the Indian indices recovered from the lows and ended with a percent gain. The Nifty was up 0.98 percent, or 105.9 points, to close at 10,859.9. Positive lead from Wall Street and rally in banking & financial stocks lifted investor sentiment. Ending the week with a Hammer candle implies further strength in the index in coming sessions. The
Gold traded on flat note on Friday after jumping more than 1 percent in the previ-ous session boosted by a crumbling dollar and as sliding stocks prompted an influx of safe haven bids after the U.S. Federal Reserve monetary policy stance aug-
Last week our Indian Equity market opened on a gap up not on Monday and continuing its previous week's momentum. It remained bullish till Thursdays session but Indian indices witnessed bloodbath in Friday trading session as Nifty closed 197 points lower at 10,754. Fears of a global slowdown spooked investors across the globe, including India on Friday. Global mar-
Gold prices steadied on Friday after slipping to a week low in the previous session supported by the uncertainty around the Federal Reserves next years policy out-look while the dollar strengthened on expectations of a rate hike next week.
Last week our Indian Equity market opened on a gap down not on Monday backed by most of the exit polls results indicating possible defeat of BJP in key states. It remained in pressure till 1st session of the Tuesday where after state assembly results came out in favor of congress. Which lifted the sentiments of the market and it recovered from lower levels and it remained
Gold traded firm near a five month peak hit early on Monday supported by a disap-pointing U.S. jobs data that fuelled speculation that the Federal Reserve may stop
Last week our Indian Equity market opened on negative note and remained bearish throughout the week. The December series kick-started on a volatile note with Nifty making swing high of 10,974 and a swing low of 10,611 to end the week with a loss of 1.4 percent. The IT sector outperformed while huge selling was seen in the pharma sector (mainly Sun Pharma), auto, metals,
Gold prices were steady early on Monday as the dollar weakened on U.S. China trade truce that revived investor demand for riskier assets. Spot gold inched up 0.1 percent to $1,222.97 per ounce at the time of writing. U.S. gold futures were up 0.2
The Nifty Bank index started the last week on positive note on Monday and extended its positive run in most of the trading session in the week . The Bank Nifty ended the November F&O expiry on an optimistic note and well above the previous hurdle of 26,400 to give index closing at 26,914 on positive note on weekly basis with gain of 3.50%. Participation was seen
Gold prices traded on flat note on Thursday after rising to a two week high in the previous session as the dollar slipped with uncertainty on the pace of interest rate hikes by the U.S. Federal Reserve also supporting the metal. Spot gold traded at
Last week our Indian Equity market opened on a gap up note but Nifty failed to hold on to its important resistance levels of 10700 and saw a sharp correction in the last 3 trading session that dragged the index below 10,550. The Nifty index closed at the week’s low level of 10,511 down by almost 1.46 %. Broad-based selling was seen in cement, pharma, technology and metal
Gold prices rose on Friday as investors sought safe haven assets amid fears of a chaotic departure for Britain from the European Union. Spot gold was up 0.2 per-
The Indian Equity market, which remained range-bound for first 3-4 session of the week showed some strength in Friday's trading session to ended the week on a positive note. The Nifty closed close to 0.90 percent higher week on week amid a mixed set of results from India Inc, some appreciation in the rupee, weakening crude oil prices and
Gold prices were steady on Monday having dipped to a one month low in the previ-ous session after the U.S. dollar firmed on the Federal Reserves plans to gradually keep tightening borrowing costs.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
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Putting the SPARK into Virtual Training.pptxCynthia Clay
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Equity Research Report 28 November 2016 Ways2Capital
1.
2. TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Indian Benchmark Index Nifty had a negative last week which was the result of a
combination of local and Global factors. The local being, currency notes reforms initiated by the
government which is bringing in temporary pain to the economy and thereby affecting sentiments. The
Benchmark Nifty Open in a Positive Note on Monday up by 28 points or 0.34 per cent at 8102. Nifty
crumbled below 8050 to touch 7920 which was the panic low made on the Brexit day. Minor reversal
can be expected from this level as Nifty is in the oversold zone and has touched an important monthly
support. However, the overall trend is sell and with FII still being sellers and US interest rates expected
to rise in the FOMC December meeting, Nifty is going to stay under pressure in the near term with
certainty. The Nifty has made lower low in last week. The range for Nifty in this week was 7920-8180.
Investments in domestic capital markets through participatory notes fell to its lowest level in two-and-
half years to Rs. 2 lakh crore in end-October. Nifty has a resistance of 8120-8130 and the markets can
retest these levels upwards. The Slide in Indian Rupee appears to be Paused. Market appears to be in
cautious mode and may continue in the range 7800 and 8200. Buying at lower levels and selling at
higher ends may help the traders. Nifty saw a volatile range bound movement between 8024-7953 levels.
Being the last day of November F&O series, volatility was high as expected. From this level the Nifty is
expected to trade in the range of 7950-8160 levels. The Significance levels for Nifty is 7940-7960 Down
side and 8160-8190 is up side.
BANK NIFTY : - Bank Nifty open in a Positive note on Monday up by 104 Points or 0.54 per cent at
19063. The Banking stocks fell last week and Bank Nifty has given a close below 19000 a lowest closing
in fourteen weeks. The markets are set up for the start of the expiry week and sentiments being negative
with Big FII selling Bank Nifty will test the support of 18500. Banking stocks came in for heavy profit
booking. Bank Nifty has not yet reached its Brexit low of 16946 which underlines recent
outperformance of the Index. The major support of Bank Nifty lies at 18145 which was the low made on
9th November, the day when the Global markets saw panic as United States elected Donald Trump as
their new President. Bank Nifty also saw a pullback closing above 18500 along with NSE Small Cap
Index, which saw a 100 point uptick in the latter half of the trading session. Bank Nifty is showing a
comparative strength since it has not even touched its Trump's low of 18143 made on Nov 9 where the
Brexit low was 16946. We may expect some buying in the December series as Expectations of rate cut
by RBI in next meeting in December are on the rise due to drop in inflation numbers and piling of cash
with banks due to demonetization. Deposit rates cut by state bank of India and other banks have
increased the hopes of transmission of lower rates to consumers and picking up of industrial activity. The
Important resistance for Bank Nifty lies at 18915-19395 levels and Support at 18087-17739 for Next
week.
Monday, 28 November 2016
4. 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
Lower Band from below side and some buy when it break Upper Band. We assume that the
Breaking the Middle Band Usually a down side is bear Signal as we can see on the above given chart
it has break the Lower Band. and it was not able to sustain the Significance Support level of 7930.
and give Gap Down opening below its Lower Band. From this ;level we may see some
Consolidation for Nifty for the Upcoming week. The Significance levels for Nifty is 7930-7877 is
down side and 8180-8260 is up side.
5. 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 break the Lower band not able to
Sustain the Support level of 18600. From this level we are Expecting the Bank Nifty may go Further
Down side to the level of 18500-18320 level for Next week. The Significance levels for Bank Nifty
is 18820 - 19250 Up side and 18400-18320 is Down Side.
8. NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Marginal rise in professional tax collection in 2015-16 - Collection of professional tax in
Maharashtra has registered a marginal rise of just Rs three crore in last financial year. According to
gross receipts from 2005-06 to 2015-16, furnished by the Assistant Commissioner of Sales Tax
(administration) of Maharashtra, Rs 1,688 crore professional tax was collected in 2010-11 fiscal
year, Rs 1,830 crore in 2011-12, Rs 1,944 crore in 2012-13 and Rs 2,146 crore in 2013-14, as per
RTI activist Manoranjan Roy who had sought details in this regard. However, in subsequent years,
the annual growth in this tax collection saw a marginal rise. The professional tax collected in 2014-
15 went up by Rs 20 crore to Rs 2,166 crore. In 2015-16, it went up by just Rs 3 crore to Rs 2,169
crore. Professional tax is levied by various state governments on salaried individuals, working in
government or non-government entities, or in practice of any profession, including chartered
accountants, doctors, lawyers, etc or those who carry out some form of business.
GST: A new wave of hope for the logistics industry - Just a few months back, the logistics sector
of India received a pat on their back with the announcement made by the World Bank’s latest
Logistics Performance Index (LPI) report titled “Connecting to Complete 2016”, where it climbed
19 places, moving up the ranks from 54 in 2014, to 35 this year. But would the new GST bill prove
to be an obstacle in its growth in 2017?. As the Goods and Services Tax regime announced by the
Finance Minister Arun Jaitley, is ready to go effective by April, 2017, industries are becoming
apprehensive about its impact on the operations of their businesses. Conversely, after much
deliberation industry experts have summarized that the effects of GST’s slab-wise taxation will
rather bring new wave of opportunities for growth in terms of better quality of services at a
comparatively lower cost, particularly in the logistics industry of India. To understand this better, let
us look at the slab structure agreed by the GST Council, which is 0%, 5%, 12%, 18% and 28%, with
lower rates for essential items and the highest for luxury and de-merits goods. The current
established tax structure levy varied central taxes in form of custom duty, excise duty, CST in
addition to very Indian state checkpoint levying states taxes at different rates, viz. of VAT, service
tax, Octroi, etc, for the goods that move across their borders. Adding to the complexity, is levying of
state level taxes on top of central taxes, thus multi-taxation to the consumer. To escape this multi-tax
burden, the manufacturers and third party logistics companies generally transferred stock to
warehouses set up in various states of operations, thus avoiding central taxes to an extent. The
priority for LSP has remained on tax and administration optimization, mostly compromising on
achieving higher operational efficiency through structured large warehouses planned in centralized
geographic locations that gives better connectivity. FMCGs that are currently paying around 24-25%
of tax, including excise duty, VAT, etc will only shell out 17-19% with GST, therefore generating lot
9. of potential for progress and open doors for investment in the industry.
Demonetisation effect: GDP to fall by up to 80 bps, says DBS - Singapore Based brokerage DBS
has warned of major downside risks to growth due to the demonetisation exercise, and has estimated
that the gross value added can come down by up to 0.80 per cent lower than its 7.6 per cent target.
"There are downside risks to the tune of 0.40-0.80 per cent to our gross-value added estimate of 7.6
per cent," it said in a note today, nearly a fortnight after the government demonetised the Rs 500 and
Rs 1,000 banknotes. This projection, however, is very meagre as many brokerages have already
projected even a 50 per cent dip in GDP growth, with Ambit Capital being the steepest at 3.6 per
cent. The brokerage said there will be an impact on consumer goods and discretionary spending for
at least two quarters, which will impact growth till March 2017. Cash dependent businesses will be
hit the most during this period and rural demand, especially from the unbanked sections, may also
moderate, it added. It, however, said there will be some pent-up demand which can give an upside to
growth starting the first quarter of the next fiscal.
India's demonetisation has mixed impact on sovereign, banks and corporates: Moody's -
Moody's Investors Service says that the move by the Government of India (Baa3 positive) to
withdraw all Rs 500 and Rs 1,000 notes approximately 86% of all outstanding notes is affecting all
sectors of the economy to various extents, with banks being the key beneficiary. "Although, the
measures in the near term will pressure GDP growth and thereby government revenues, in the longer
term they should boost tax revenues and translate into higher government capital expenditure and/or
faster fiscal consolidation," says Marie Diron, an Associate Managing Director in Moody's
Sovereign Group. "Corporates will see economic activity decline, with lower sales volumes and cash
flows, with those directly exposed to retail sales most affected," adds Laura Acres, a Managing
Director in Moody's Corporate Finance Group. Moody's conclusions are contained in its just-
released report "Indian Credit -- Demonetisation Is Beneficial for Indian Government and Banks;
Implementation Challenges Will Disrupt Economic Activity". In the immediate period following the
government's November 8 decision, Moody's says the withdrawal of the Rs 500 and Rs 1,000 notes
will significantly disrupt economic activity, resulting in temporarily weaker consumption and GDP
growth.
India growth to slow to 6.5% on notes ban: Deutsche - India's real GDP growth is expected to
slow to 6.5 per cent in the current fiscal on the likely impact of demonetisation, while muted
inflation may open room for additional rate cuts, says a Deutsche Bank report. According to the
global financial services major, economic growth will see a moderation in the near term and would
gradually recover to 7.5 per cent in the next financial year. Prime Minister Narendra Modi on
November 8 had announced the demonetisation of Rs 500 and Rs 1,000 notes, thereby withdrawing
86 per cent or Rs 14 lakh crore worth currency from circulation. "We expect growth to be impacted
10. adversely in the present and next quarters due to the government's temporary de-monetisation
initiative," said the note, adding that GDP would slow to 6.5 per cent in 2016-17, and gradually
recover to 7.5 per cent in 2017-18.
CPI inflation to moderate to around 4% in November: Nomura - A moderation in aggregate
food prices will lower inflation momentum in November and the CPI inflation is expected to
moderate to around 4 per cent in November from 4.2 per cent in October, says a Nomura report.
According to Japanese financial services major, demonetisation is disinflationary in the medium
term, but more neutral in the near term. "We currently expect CPI inflation to moderate to around
4.0 per cent y-o-y in November from 4.2 per cent in October," Nomura said in a research note. To
see how demonetisation has affected inflation, Nomura looked at high-frequency price data for both
perishable and non-perishable food items, which together account for around 25 per cent of the CPI
basket. "Data since the November 8 demonetisation move shows a divergence between perishable
and non-perishable food prices. Perishable prices have moderated by 3.3 per cent, led by lower fruit
and vegetable and egg prices, while non-perishable prices are 1.1% higher, led by wheat," the report
said.
Banks' retail focus boosts share of personal loans to 19% in June: RBI - The Reserve Bank
today said the focus by lenders on the retail segment has helped increase the share of personal loans
in the system to 19.3 percent in June 2016, from 17.9 percent in March. "Retail focus of banking
sector helped the share of personal loans in total credit of scheduled commercial banks to increase to
19.3 per cent in June 2016 from 17.9 per cent in March 2016," RBI said in a statement. Citing data,
the regulator said home loan segment was one of the prime contributors to this uptick. The data
release, part of the quarterly BSR-1 which gives details on the outstanding credit of scheduled
commercial banks on a variety of factors, comes amid a move away from the high-value corporate
segment by lenders. The lenders blame both a lack of demand from corporates and concerns over
credit quality for their focus on the retail segment, which has displayed resilience till now.
Goldman forecasts deceleration in GDP growth to 6.8% in FY17 - Goldman Sachs has forecast a
deceleration in India's GDP growth to 6.8 per cent this fiscal, down from 7.6 per cent last financial
year, due to demonetisation of Rs 500 and Rs 1000 currency notes. According to the global financial
services major, post the 'dramatic currency reform' the liquidity shortage would be a significant
constraint on domestic activity, which in turn would affect GDP growth. "In the short term, the
liquidity shortage appears likely to be a significant constraint on domestic activity, leading us to
forecast a deceleration in GDP growth to 6.8 per cent in FY17 (below consensus), down from 7.6 per
cent in FY16," Goldman Sachs said in a research note. Eventually, the currency reform should help
to move economic activity into formal channels, accelerate financial inclusion, and increase
government revenue, it added. According to the report, the "large, young, lower-income" economies
11. of India, Indonesia, and the Philippines have higher growth potential -- in theory. But in practice,
much will depend on domestic policy and the pace of economic reform.
✍ TOP ECONOMY NEWS
At least 120 bids have been received for 67 small and marginal oil and gas fields, with 40 new
companies entering the sector and submitting their bids.
National Highways Authority of India will raise Rs. 200 billion through EPFO, Rs85bn through
LIC, Rs. 50 billion each through Masala and 54-EC bonds and Rs165b from the market, Minister of
State for Road Transport and Highways.
FDI went up 60% to USD 77.86 billion after the launch of Make in India initiative in September
2014.
With an aim to deepen capital markets, Sebi may consider allowing foreign portfolio investors
(FPIs) to invest in unlisted non-convertible debentures and securitised debt instruments in its board
meeting.
Government auditor Comptroller and Auditor General said I-T department has provided "irregular"
tax benefits to infrastructure companies without verification, which have cost the exchequer over Rs
45 billion.
There are as many as 2,071 industrialists whose loan accounts with an exposure of Rs 3.89trn have
turned into NPAs.
Banks parked a mindboggling Rs 4.32 trillion of their excess liquidity with the central bank.
The government has allowed National Bank for Agriculture and Rural Development to disburse Rs
21000 crore to cash-starved farmers, helping them sow winter crops like wheat ahead of the sowing
season.
Finance ministry sources said as much as Rs. 20000 crore has been deposited in Jan Dhan accounts
since November 8.
12. India has imposed anti-dumping duties on hot rolled flat sheets and plates of alloy or non-alloy steel
to curb cheaper imports into the country
National Highways Authority of India has raised Rs100bn from EPFO's bonds so far this financial
year, while LIC has in-principle has agreed to subscribe to its taxable bonds worth up to Rs85bn till
March-end.
The Commerce and Industry Ministry has moved a proposal for the consideration of the Cabinet to
completely ban foreign direct investment in the tobacco sector.
✍ TOP CORPORATE NEWS -
The US FDA has begun its inspection at Sun Pharmaceuticals Industries Limited Halol
manufacturing facility, considered to be the most crucial for the company.
Northern Coalfields has awarded Rs.1470 crore project to DBL-DECO, a joint venture of Dilip
Buildcon Limited, for excavation work at one of its open cast mines.
Bharat Forge Limited announced the acquisition of US-based Walker Forge Tennessee, for a total
consideration of $ 14 million. Bharat Forge has made this acquisition through its US subsidiary.
Mahindra First Choice services, the used car services arm of Mahindra & Mahindra, is planning to
sell a portion of its stake to raise up to $ 50 million.
Exxon Mobil, CShevron and BP plc as well as Reliance Industries Limited are unlikely to bid in
the auction of 46 discovered small oil and gas fields.
Infosys Limited has invested Rs 14.5 crore in a start-up UNSILO. The investment is done through
Infosys innovation fund.
Bajaj Auto Limited has commenced production of the most powerful bike in its own stable till date
— a 400cc motorcycle — which it aims to launch around the middle of next month.
Alembic Pharmaceuticals Limited has received approval from the US Food & Drug
Administration for its Abbreviated New Drug Application for Telmisartan and Amlodipine Tablets.
Zydus Cadila has received final approval from the US health regulator to market its Metronidazole
13. tablets used for the treatment of infections caused by bacteria or parasites.
Novartis said it is acquiring Selexys Pharmaceuticals Corp in a deal worth up to USD 665 million.
Tata Consultancy Services Limited said its former Chairman Cyrus Mistry’s conduct has caused
enormous harm to the Tata group, TCS and its stakeholders, including employees and shareholders.
Bosch Limited India has launched ‘discover, nurture and align-DNA’, its first accelerator
programme for start-ups, which offers start-ups the opportunity of gaining access to Bosch’s
working environment.
Coal India Limited is examining opportunities to export coal with high ash content or high grade
fossil fuel to the neighbouring nations.
Mahindra & Mahindra Limited opened its Rs. 1.50 billion spare parts warehouse in Jaipur to cater
to customers in north and north western regions of the country for both automotive and tractor spare
parts.
ONGC Limited , Oil India, Reliance Industries and BP skip the auction of discovered oilfields.
Brigade Enterprises Limited has announced strategic partnerships with Microsoft and Intel to
benefit Startups in its technology focused Real Estate Accelerator Program .
Honda Cars India said it would facilitate 100% ‘on road’ and ‘ex-showroom’ funding deals with
HDFC, Axis and ICICI banks.
Reliance Infrastructure Limited has won an EPC order for Rs. 36.75 billion from NLC India
Limited for setting up two lignite based CFBC thermal power projects with a capacity of 250MW
each.
Vedanta Limited is looking at increasing its captive power generation capacity by 1200MW amid
rising production. The company is considering setting up 350MW super-critical units in joint
ventures at its different production bases in the country.
Suven Life Sciences has secured two patents -- one each from China and Mexico -- for its new
chemical entities used in the treatment of neurodegenerative diseases.
Larsen & Toubro said its construction arm has bagged projects worth Rs. 19.26 billion across
14. various business verticals.
Reliance Communications has launched '149 Unlimited' calling plan, which will offer customers
unlimited calling talk-time to any phone on any telecom network across the country, including long
distance calls, at just Rs. 149/m.
In a Rs. 48 billion reprieve to India’s fourth-largest telco, the Supreme Court dismissed a special
leave petition filed by the Income Tax department to tax the proceeds of Reliance
Communications’ USD 1.5 billion foreign currency convertible bonds issued nearly a decade ago.
Bliss GVS Pharma's Kenyan arm has won a three-year contract worth USD111.40mn around Rs.
7.60 billion from Aon Kenya Insurance Brokers.
NLC India Limited has awarded projects worth Rs64.80bn to BGR Energy Systems and Reliance
Infrastructure Ltd.
Delhi High Court sought the government's response on Jindal Power Ltd's plea for refund of over
Rs. 11.85 billion paid by it as additional levy for taking part in the coal auction and challenging the
provisions of the Coal Mines Act which makes such levy mandatory.
CAG has pulled up the Income Tax department for giving benefit of Rs17.67bn to the port and
terminal arm of Reliance Industries by allowing deductions meant for public facilities to the
company's captive jetties.
With State Bank of India and HDFC Bank, deciding to accept payments made through the Unified
Payments Interface, the digital payment system is likely to see robust growth in the days to come.
Leading steel companies across the globe are showing interest in buying the Nagarnaar steel plant of
the National Mineral Development Corporation , which is coming up in Chhattisgarh’s Bastar
district.
Larsen & Toubro has laid off 14,000 employees across businesses during April—September period
this year, was necessary to stay “agile and competitive“.
Sun Pharmaceuticals Industries Limited has entered into an agreement to acquire 85.1% of JSC
Biosintez, that makes and markets pharmaceutical products in Russia and the CIS region.
Cipla Limited is divesting its minority 16.7% stake in Chase Pharmaceuticals Corporation, to a
15. subsidiary of Allergan Plc.
Wockhardt Limited said that the USFDA has issued a warning letter to C P Pharmaceuticals Ltd,
Wrexham, United Kingdom, a stepdown subsidiary of the company.
Aurobindo Pharma, Cadila, Mcleods Pharmaceuticals are among the 39 Indian drug companies
that have been blacklisted by Vietnam for quality standard violations.
Zee Entertainment Enterprises Limited has acquired the general entertainment broadcasting
business of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast
Private Limited, all part of Anil Ambani led Reliance Group Entities.
Infosys Limited has put in Rs. 316 million in Stellaris Venture Partners, founded by former Helion
Advisors partners, the second such move in a venture capital firm through its USD500mn Innovation
fund.
Tata Steel Limited is set to commission its 55,000 tpa ferrochrome plant at Gopalpur in South
Odisha on November 30th.
Indian Oil Corporation Limited unit plans to invest USD5.5bn to gradually raise the capacity of
its smallest refinery co-owned by Iran to 300,000 barrels/day , to help meet a surge in demand for
refined products in the world's fastest growing major economy.
The board of directors of Tata Motors Limited had decided to convene an extraordinary general
meeting, or EGM, on December 22 to pass a resolution to remove Cyrus Mistry and Nusli Wadia as
directors of the company.
The US FDA recorded seven observations as part of its recent inspection of Sun Pharma’s
manufacturing site at Mohali.
A fire incident was reported at the refinery complex of Reliance Industries Limited at Jamnagar.
LT Foods has inked a 51:49 joint venture with Kameda Seika, to sell rice-based snacks in India.
Natco Pharma has received final approval from the US health regulator for generic version of
Budesonide capsules used for treatment of active Crohn's disease for the American market.
JSW Group plans to diversify into electric car manufacturing.
16. Talcher Thermal Power Station of NTPC achieved its ever best highest single day generation of
11.496mu of electricity at 104.13% capacity utilisation on November 23, 2016.
YES Bank Limited announced a partnership with Gujarat State Road Transport Corporation to
digitise payment of bus tickets for its customers.
✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
After a gruelling two weeks, bank executives can expect to breathe easy soon. With over half of the
currency notes that have ceased to be legal tender being deposited or exchanged, long queues in
front of banks may soon shrink, say industry experts. Economists feel structural change in payment
habits of individuals, who are likely to increasingly opt for cashless forms of spending, will help
ease the cash crunch situation in the country. Also with more ATMs getting calibrated to dispense the
newly-designed notes, there will soon be a letup in disruption level, they said.
As many as 82,500 ATMs, which account for about 40 per cent of cash vending machines in the
country, have been recalibrated to dispense new high security currency notes of 500 and 2,000
rupees. Out of 2.2 lakh ATMs, 82,500 were recalibrated till yesterday evening. These ATMs have
been reset as per the direction of task force set up by the government to expedite the process, Rituraj
Sinha, President Cash Logistics Association of India, told PTI.
Seeking to reach out to maximum number of people looking to withdraw money, State Bank of
India% today said it is providing cash through Point of Sales machines including in tea gardens,
hospitals and trains. The move follows huge rush at banks and ATMs following the ban on old high-
value notes of Rs 500 and Rs 1000. In a statement, SBI said it is catering to every sector and
geographies including tea gardens, hospitals, trains through 'Cash@POS' initiative to dispense cash
through 741 mobile vans across the country. "At a time when getting cash from an ATM was proving
to be a tall order across the country, State Bank of India has taken the lead in reaching out to the
wide spectrum of its' client base by dispensing cash to the needy," it said.
The finance ministry on Tuesday said that there are 2,071 accounts with state run banks which have
debt exceeding Rs 50 crore and are classified as nonperforming assets or bad loans. The outstanding
amount in these accounts is Rs 3.88 lakh crore, noted Santosh Kumar Gangwar, minister of state in
the finance ministry. “In terms of instructions of Reserve Bank of India, every bank has to have its
own recovery policy including the manner and procedure of write-offs. Loans are written off after
appropriate provisions have been made to take advantage of tax benefits and capital optimization,”
he said in a written reply in Rajya Sabha. The total bad loan and restructured advances in all
17. scheduled commercial banks stood at Rs. 8.32 lakh crore in FY 16 as against Rs. 7.28 lakh crore in
FY 15.
Fitch Ratings today reaffirmed negative outlook on the country's banking sector due to poor asset
quality and weak earnings. "The negative outlook reiterates our concern on fragile financial position
of the banking sector. It also reflects our expectations of the ongoing weak asset quality, poor
recovery and earnings in light of continued provisioning pressure that are emanating not just from
the new potential NPLs but also from existing NPLs," Fitch Ratings director Saswata Guha told
reporters here today.
The share of non-banking finance companies in loans being given in the financial sector may rise by
300 basis points to 17.6 percent over the next three fiscals and they can grow even faster as public
banks adopt cautious approach on lending, according to Crisil. The credit rating agency said in a
research report today that the growth builds on top of 300 bps or 3 percent seen in the last five years.
According to the report, NBFCs (including housing finance companies) could grow even faster as
public sector banks , facing asset quality challenges, remain circumspect on lending. "Domestic
NBFCs have leveraged their unique strengths and some of them have scaled up to become world-
class institutions," Crisil Ratings Business Head (large corporates) Gurpreet Chhatwal said.
Private sector lenders ICICI BankBSE -1.74 %, Axis BankBSE -1.23 % and Yes BankBSE -0.22 %
joined their public sector peers to waive the merchant discount rate levied on merchants while
accepting digital debit card payments from customers. The move follows government asking banks
today to levy no charges when customers want to pay digitally through their debit cards, a move to
make things easier in a cash-strapped environment in view of ban on old currency notes of Rs 500
and Rs 1000. Banking major SBI had already waived MDR on RuPay debit cards last week, while
ICICI Bank had waived it yesterday.
State Bank of India has lowered rates on bulk deposits between 125 and 190 basis points or bps (one
bps is 0.01%) across various maturities, paving the way for lower interest rates in the system. In
many baskets, the revised interest rates from India's largest bank by market share of deposits and
loans are lower than returns on savings bank accounts, which are currently set at a minimum 4%.
The cut in deposit rates is because of a fall in the cost of funds, as the banking system is flush with
funds ever since the government scrapped Rs 500 and Rs 1,000 notes as legal tender on the evening
of November 8.
In the historic fortnight when the government scrapped Rs. 500 and Rs. 1000 notes, the banking
sector assets too contracted as loans dipped sharply and investments in government bonds posted a
18. modest rise. In the fortnight ended November 11, the period during which the government decided to
scrap Rs 500 and Rs 100 notes, bank loans contracted by Rs 59,000 crores or 0.6%, while
investments rose modestly by Rs 2551 crore or 0.08%, data released by RBI said. But deposits in the
banking system rose 1.3% or about Rs 1.3 lakh crore during the fortnight, the RBI release said.
Total deposits in Jan Dhan accounts have increased to Rs 64,252.15 crore, with Uttar Pradesh
leading the chart with Rs 10,670.62 crore deposits followed by West Bengal and Rajasthan, the
government said today. The Centre also stressed that no public sector banks had given any
instructions to their officials to deposit Re 1 or 2 to avoid zero balance in Jan Dhan accounts.
The after-shocks of the government's move to discontinue Rs 500 and the use of old Rs 1,000 notes
have led to a contraction of banking assets in the fortnight ended November 11 with loans dipping
sharply and investments in government bonds posting only a modest rise. While bank loans
contracted by Rs 59,000 crore, or 0.6 per cent, investments saw a modest rise of Rs 2,551 crore, or
0.08 per cent.However, deposits in the banking system rose 1.3 per cent, or about Rs 1.3 lakh crore,
during the fortnight, according to data released by the Reserve Bank. Much of the deposit growth
was of cash in the system deposited with commercial banks.
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