TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - Indian benchmark Index Nifty opened at 9647 on Monday trading session and closed at
9616 after making a low of 9599. The Index started the week on a negative note, as investors seemed
Unenthusiastic by the revised rates on 66 items by the GST Council in its 16th meeting on Sunday and await
the macroeconomic data to be released later. Next meeting will be held on 18th June 2017. Market reacted to
the macroeconomic data i.e. IIP and CPI inflation data released on Monday. The benchmark index Nifty
recovered from its low of 9608 on Friday and closed at 9668 after making a high of 9676. Last week Nifty
make new record high of 9709. benchmark Index Nifty opened at 9616 on Tuesday trading session and closed
at 9607 after making a low of 9595. The Index started the week on a negative note, as investors were Cautious
Ahead of FOMC meeting. Indian market may react to the high probable GST disruptions as the nation may not
be yet fully prepared for a GST roll out in its present complex form. Also, invocation of IBC act by the
RBI/Banks may be negative for the banks in the short term, as they have to take large hair cuts for some
unviable projects. On Wednesday trading session the Indian benchmark Index Nifty opened at 9622 and closed
at 9618 after making a low of 9580. The Index recovered by 38 points from its day low in the second half of
trading session. As of now we do expect that RBI may be constrained to be neutral in order to keep the policy
parity with a hawkish Fed despite room for rate cut. All eyes may be also on the GST and PSBS consolidation
& NPA resolution. Time and Price action Suggest that the Nifty need to Sustain over 9580-9600 for further
move toward 9740-9768 levels. On the Flip side Sustaining below 9540-9500 may drag the index toward

9480-9420 level in next week trading session.

BANK NIFTY : - The Banking Shares Index Bank Nifty opened at 23610 and closed at 23470 after making
a low of 23442 on Monday trading session. Bank Nifty also made a new record high of 23708 in last week
trading sessions and closed at 23691. The Index opened at 23555 on Wednesday trading session, and closed at
23499 after making a low of 23399. PSU Bank stocks surged in the second half of the Yesterdays trading
session. Allahabad Bank was the top gainer in the Nifty PSU Bank Index, it closed higher by around 7.38% at
Rs. 72 per share. In a most recent development regarding decision of Non-Performing Assets, the Reserve
Bank of India has recognized 12 bad accounts for instant resolution under the Insolvency and Bankruptcy
Code. RBI did not disclose the names of bad accounts. The Internal Advisory Committee noted that under the
recommended criterion, 12 accounts totalling about 25% of the current gross NPAs of the banking system
would qualify for immediate reference under IBC. The Time and Price action Suggest that the Bank Nifty to
Sustain over 23400 level for further up move toward 23536-23655 level on the flip side sustaining below
23400 may drag the index toward 23308-23237 level in next week trading sessions.

Monday, 19 June 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2
9738 9640 9591 9542 9444

WEEKLY R2 R1 PP S1 S2
9883 9699 9607 9515 9331

MONTHLY R2 R1 PP S1 S2
10053 9761 9615 9469 9177

BANK NIFTY

DAILY R2 R1 PP S1 S2
23749 23551 23452 23353 23155

WEEKLY R2 R1 PP S1 S2
24456 23824 23508 23192 22560

MONTHLY R2 R1 PP S1 S2
24892 23934 23455 22976 22018

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 9577 9404 9151 8792

BANK NIFTY 23434 23429 23416 23421

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 9188 8315 7039

BANK NIFTY 22319 21563 21351
PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily chart of Equity index Nifty price seems to take a
pause inside the breakdown zone before a swinging move. On Analysis of the Movement of Nifty
50 price in Different time zone which constructed. Bollinger Band is an Advance indicator of a
Break down ahead . The Nifty is facing the Stiff Resistance at the Current level, If it tries to a
little further Up move. The Nifty to Take Strong Resistance at 9468-9526, And Strong Support is
9398-9319 levels.
PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the Above given daily chart of Equity index Bank Nifty price seems to take
a pause inside the breakdown zone before a swinging move. On analysis of the movement of
Bank Nifty futures in the same charts on June 10th, 2017, We find the Bank Nifty futures price
seems ready to take a sudden downward move with or without any excuse. Our aim is not to
create panic among the traders; The Strong Resistance for Bank Nifty is at 23560-23692 and
Strong Support for Index is at 23410-23356 Levels.
 NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2
ACC EQ 1671 1650 1625 1604 1579
ADANI PORTS EQ 371 367 362 358 353
AMBUJACEM EQ 240 238 236 234 232
ASIAN PAINT EQ 1162 1153 1141 1132 1120
AXISBANK EQ 516 512 509 505 502
BAJAJ-AUTO EQ 2841 2825 2813 2797 2785
BANKBARODA EQ 173 171 169 167 165
BPCL EQ 689 682 676 669 663
BHEL EQ 142 140 139 137 136
BHARTIARTL EQ 372 369 365 362 358
BOSCH LTD EQ 24684 24545 24370 24231 24056
BHARTI INFRATEL EQ 388 380 377 369 366
CIPLA EQ 558 550 542 534 526
COALINDIA EQ 259 257 255 253 251
CAIRN INDIA LTD EQ 2773 2741 2686 2654 2599
DRREDDY EQ 383 381 379 377 375
GAIL EQ 1130 1122 1116 1108 1102
GRASIM EQ 852 845 840 833 828
HCLTECH EQ 1659 1645 1637 1623 1615
HDFC EQ 1682 1674 1666 1658 1650
HDFCBANK EQ 3824 3810 3783 3769 3742
HEROMOTOCO EQ 199 197 196 194 193
HINDALCO EQ 1120 1108 1098 1086 1076
HINDUNILVR EQ 321 319 317 315 313
ICICIBANK EQ 312 308 305 300 298
ITC EQ 1524 1509 1498 1483 1472
INDUSIND BANK EQ 961 952 944 935 927
INFY EQ 80 78 77 75 74
IDEA CELLULAR EQ 1004 989 976 961 948
KOTAKBANK EQ 1765 1748 1734 1717 1703
LT EQ 1420 1404 1394 1378 1368
M&M EQ 74234 73372 72540 71678 70846
MRF EQ 7414 7357 7304 7247 7194
MARUTI SUZUKI EQ 168 167 166 165 164
ONGC EQ 162 161 160 159 158
NTPC EQ 20 20 19 19 18
RCOM EQ 612 607 604 599 596
RELCAPITAL EQ 1411 1401 1385 1375 1359
RELIANCE EQ 489 483 479 473 469
RELINFRA EQ 41 41 40 40 39
RPOWER EQ 288 286 285 283 282
SBIN EQ 239 237 236 234 233
SSLT( VEDL) EQ 558 549 537 528 516
SUNPHARMA EQ 287 284 279 276 271
TATA MOTORSDVR EQ 2457 2429 2408 2380 2359
TCS EQ 461 458 455 452 449
TATAMOTORS EQ 79 79 78 77 76
TATAPOWER EQ 510 506 504 500 498
TATASTEEL EQ 156 154 152 150 148
UNIONBANK EQ 1468 1458 1447 1437 1426
YES BANK LIMITED EQ 516 511 509 504 502
ZEEL EQ 371 367 362 358 353
 TOP 15 ACHIEVERS // TOP 15 LOOSERS

SR.NO SCRIPT NAME PREV CMP % CHANGE SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
CLOSE

1 AURO PHARMA 608 653 + 7.41 % 1 WIPRO LIMITED 536 255 - 52.46 %

2 RELIANCE 1335 1388 + 3.98 % + 2 TCS 2507 2399 - 4.28 %

3 BOSCH LIMITED 23863 24467 + 2.53 % 3 BHARAT PETRO 703 673 - 4.26 %

4 DR. REDDYS LABS 2628 2682 + 2.05 % + 4 IOC 420 404 - 3.68 %

5 NTPC 157 160 + 1.77 % 5 BANK OF BARODA 173 167 - 3.48 %

6 POWER GRID CORP 207 209 + 1.33 % + 6 HINDALCO 202 195 - 3.41 %

7 ACC 1618 1638 + 1.23 % 7 VEDANTA 244 236 - 3.25 %

8 AMBUJA CEMENT 235 237 + 0.94 % + 8 YESBANK LTD 1488 1443 - 3.04 %

9 ADANI PORTS 359 363 + 0.92 % 9 L&T 1778 1726 - 2.90 %

10 TECH MAHINDRA 386 390 + 0.90 % + 10 M&M LIMITED 1426 1387 - 2.76 %

11 SUN PHARMA 524 529 + 0.85 % 11 MARUTI SUZUKI 7464 7263 - 2.69 %

12 ULTRATECH CEM 4111 4125 + 0.32 % + 12 ZEEL 522 508 - 2.67 %

13 ITC LIMITED 306 306.80 + 0.26 % 13 CIPLA 551 536 - 2.60 %

14 HDFC BANK 1666 1669 + 0.15 % + 14 HCL TECH 860 839 - 2.53 %

15 TATA POWER 77 78 + 0.13 % LUPIN LIMITED 430 1131 - 2.50 %

15
OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY
NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

Loan waiver to hurt credit discipline, impact fiscal, says experts - The loan waiver of Rs. 30,000
crore will affect the state fiscal and impact the credit discipline among borrowers, according to
experts. Eleven days after farmers protest, the Maharashtra government has announced a farm
loan waiver for small and marginal farmers on Sunday. According to India Rating report, the
impact of the waiver will be felt over a period of time, although it will push up states' fiscal
deficit to 2.71 per cent as against 1.53 per cent budgeted for the fiscal year 2017-18. Maharashtra
is the second BJP government governed state after Uttar Pradesh to have announced a farm loan
waiver. Soon after BJP won an election in UP, the state government had announced a farm loan
waiver of Rs 36,359 crore. A day after UP government had announced a waiver, governor of the
Reserve Bank of India Urjit Patel, had denounced it. I think it undermines an honest credit
culture. It impacts credit discipline. In other words, waivers are in general more of hazard, he
had said speaking to media. Waivers are in general more of hazard. It also entails at the end of
the day transfer from taxpayers to borrowers, he added.

In a first, India to put dedicated cell to promote Russian investments - India for the first time
will put in place a dedicated cell to promote Russian investments in the country to take forward St
Petersburg vision statement that seeks to open new vistas of economic engagement. The idea to
create this cell was mooted by PM Narendra Modi when he met CEOs of India and Russia in
presence of President Vladimir Putin on June 1 after the annual summit in St Petersburg. The cell
which will report to the Prime Ministers Office will assist Russian businessmen to plan, execute,
form joint ventures and search locations for their investments. The entire process hopes to cut the
alleged role of middlemen who in the past were matchmakers. This dedicated cell will function
under Invest India investment wing of the Indian government which was part of the June 1
CEO forum as well as St Petersburg International Economic Forum where Modi was the Guest of
Honour. This cell will be key to push Russian investments in India in non-traditional sectors
with Delhi and Moscow aiming to give economic heft to the bilateral strategic partnership,
Invest India MD & CEO Deepak Bagla who was part of India-Russian Joint CEO Forum told
ET.

CAD soars to $ 3.4 b or 0.6% as imports jump in Q4 - Indias external sector balance sheet
remained in the comfort zone of less than 2% of GDP during the quarter ended March17, despite
a higher merchandise import bill and almost flat growth in services income as both software
services income as well as remittances by the overseas Indians were at the same level as previous
year. Strong FDI as well as portfolio flows resulted in a sharp rise in capital account flows,
putting the overall balance of payments in a higher surplus. Current account deficit , excess of
countries imports over exports expanded marginally to $ 3.4 billion (0.6 per cent of GDP) in the
fourth quarter of FY17, according to the preliminary figures released by the Reserve Bank of
India. It was higher than $ 0.3 billion (0.1 per cent of GDP) in Q4,FY16 but narrowed from $ 8.0
billion (1.4 per cent of GDP) in the preceding quarter.

India's industrial output up 3.1 per cent y/y in April - Industrial production growth slipped to 3.1
per cent in April due to poor show by manufacturing, mining and power sectors coupled with
lower offtake of capital goods and consumer durables. The factory output measured in terms of
the index of industrial production had expanded by 6.5 per cent in April last year, the data
released by the Central Statistics Office showed. The CSO also revised upwards the IIP growth
figure for March to 3.75 per cent from provisional estimate of 2.7 per cent released last month.
According to the CSO data, manufacturing sector, which constitutes 77.63 per cent of the index,
grew at 2.6 per cent in April compared to 5.5 per cent in same month last year. Similarly, mining
sector output grew at 4.2 per cent in the month under review compared to 6.7 year ago. Power
generation rose by 5.4 per cent in April, down from 14.4 per cent expansion in April last year. The
output of capital goods, which are the barometer of investment in the country, contracted by 1.3
per cent in April compared to growth of 8.1 per cent a year ago.

May inflation at 5-year low, raises rate cut hopes - Consumer inflation fell to its lowest in at
least five years in May because of softer food prices, raising hopes the RBI may cut rates to boost
the struggling industrial sector. Retail inflation declined to 2.1% in May from 2.99% in April,
according to data released by the statistics office on Monday. Separately released numbers
showed industrial growth at 3.1% in April, below the upwardly revised 3.8% figure for
March. May's retail inflation is the lowest since the government began issuing data based on the
Consumer Price Index in 2012. "We expect only a 25 basis point cut in October 2017," CARE
Ratings chief economist Madan Sabnavis said, adding that the impact of the goods and services
tax, set to be rolled out on July 1, needed to be watched. One basis point is 0.01 percentage point.
Retail inflation is near the lower end of the 2.0-3.5% range forecast by the RBI in the first half of
the year. The central bank did not cut rates in its policy review last week, but adopted a less
hawkish stance even as it saw inflation picking to 3.5-4.5% cent in the second half of FY18.

HSBC sees India growth unchanged at 7.1% this fiscal - India's growth is likely to remain
unchanged at 7.1 per cent this fiscal, as investments are low and government spending may not
remain high given the fiscal consolidation path the country is treading, says a report. "Growth
numbers were marked down marginally but still remain higher than ours," HSBC said in a
research note. It said "we have a below-consensus view that growth will be flat at 7.1 per cent in
2017-18". acording to the global financial services major HSBC, output gap in the country is
likely to remain negative for longer period of time. In its policy review meet yesterday, the central
bank also lowered its growth forecast to 7.3 per cent, from 7.4 per cent earlier. The report said
that investment still remained low in the country, while urban wages are growing but at
multi-year lows. Moreover, government spending may not remain as high given the fiscal
consolidation path, and the rise in exports over the last few months are showing some signs of
moderation. HSBC said though "rural growth could come in high if rains are strong, but that
would just about offset the weakness from other sectors. This means that the output gap is likely
to remain Negative for longer.

GST rollout preparations take off on war footing - With the rollout of the goods and services tax
about two weeks away, the government machinery is stepping up preparatory efforts. The Central
Board of Excise and Customs has written to field officials to be GST ready and ensure a smooth
transition to the game-changing tax reform when its rolled out on July 1. In a communication to
field formations sent on June 12, CBEC chairman Vanaja Sarna has listed a number of action
points that include assisting businesses to migrate to the new regime. The note follows a detailed
stocktaking meeting on GST preparedness by Prime Minister Narendra Modi last week. GST
Suvidha Kendras should be a one-stop solution for taxpayers seeking advice/information on GST,
including assistance in real-time registration, payment, Sarna said in the letter.

Trade gap widens to 30-month high in May - Slower growth in exports and sharper rise in
imports led by gold and silver made Indias trade deficit balloon to a 30-month high in May.
Imports grew 33% from a year ago to $ 37.8 billion, buoyed by a 236% rise in gold imports at $
4.9 billion. Exports increased the slowest in eight months at 8.3% to $ 24 billion, widening the
trade deficit to $ 13.84 billion from $ 6.2 billion in the year ago period. Half of the upsurge in
merchandise imports was led by precious metals and stones, which is likely to be on account of
restocking after the festive and marriage season, and prior to Goods and Services Tax, said Aditi
Nayar, principal economist at ICRA, Gold, silver and precious and semi-precious stones
recorded a growth of 128% in May. The continued growth in imports of pulses despite the
record harvest and decline in prices is somewhat surprising, Nayar said.

TOP ECONOMY NEWS

Rising instances of farm loan waivers in many states which are facing elections in the next couple
years may affect credit discipline of rural borrowers, a development that weighed on the stocks of
NBFCs such as Mahindra and Mahindra Financial Services, Shriram Transport Finance and
micro finance players such as Bharat Financial Inclusion in the last two trading sessions.
Amid the rash of loan waivers, Japanese brokerage Nomura Estimated over 65 per cent of the
total Rs 9.50 lakh crore of agri debt may potentially get written-off. "We estimate that 2/3rd of
the agri debt of Rs 9.5 lakh crore is in states where a debt waiver has been announced or
promised, or in states that will go to the polls in the next two years," it said in a note.

Analysts grew more confident of a rate cut by Reserve Bank of India at the August review, after
the headline inflation dipped to a decade low of 2.18 per cent for May. SBI's economic research
department said the RBI cannot "avert a rate cut" at the August policy review. "The expectation of
a prominent rate cut would become more pronounced if inflation continues to remain benign for a
longer time," it said in a note.

Tax officials are combing the list of redeemed fixed deposits and large personal loans at some
cooperative banks and non-banking finance companies on suspicions of money laundering after
last years overnight currency swap, according to two people close to the probes. They believe
officials at these lenders and NBFCs may have worked with some individuals to exchange
unaccounted old currency notes after India banned Rs 500 and Rs 1,000 bills on November 8.

India's forex reserves surged by $ 2.404 billion to reach life-time high of $ 381.167 billion in the
week to June 2 on account of rise in foreign currency assets, the Reserve Bank of India said. In
the previous week, the reserves had declined by $ 547 million to $ 378.763 billion. Foreign
currency assets, a major component of overall reserves, increased by $ 2.748 billion to $ 357.290
billion in the reporting week, RBI said.

India's wholesale inflation eased to a five-month low in May, boosting hopes of interest rate cuts
as consumer price inflation has fallen to a five-year low. Inflation as measured by wholesale price
index eased to 2.17% in May after hitting 3.85% in April, data released by the commerce and
industry ministry showed on Wednesday. Data released last week showed that inflation measured
by consumer price index for May stood at 2.18%, its lowest since 2012.

Falling food inflation is expected to pull June CPI inflation to the sub-2 per cent level and may
prompt the Reserve Bank to go in for a 25 bps rate cut in its policy review in August, says a
report. "We have grown more confident of our call for a 25 bps RBI rate cut on August 2 with
CPI inflation falling to 2.2 per cent in May from 3 per cent in April," Bank of America Merrill
Lynch said in a note.

India's core consumer price inflation, which excludes food and energy prices, eased to around 4.2
percent in May from around 4.4-4.5 percent in April, according to estimates from three analysts.
Indian companies are preparing to shift overseas investment companies from tax havens such as
Mauritius after about 100 countries, including India, agreed to adopt a common tax treaty curbing
loopholes frequently used by multinationals to avoid taxes. The base erosion and profit shifting
framework is aimed at providing uniform tax regulations for all investors, irrespective of which
destination they come from and where they invest.

As India's industrial output growth slipped to 3.1 per cent in April, the industry reiterated its
demand for an interest rate cut by the RBI, saying it was imperative to boost growth and
consumer demand. Industry body Assocham said the Reserve Bank's status quo on rates has
disappointed the industry as there was a room for reduction in key policy rate.

India's annual consumer price inflation eased further to 2.18 percent in May, driven down by
cooling food prices, government data showed on Monday. The rise was lower than the 2.60
percent forecast by economists in a Reuters poll, and was the lowest since India started publishing
an economy-wide consumer price index in 2012. Consumer prices rose 2.99 percent on year in
April.
The Union government is seeking industry feedback on how to readjust the duty drawbacks in
the new Goods and Services Tax regime. "It will change. Sought views of the industry as state
levies are subsumed in GST," Union Textiles Joint secretary Subrata Gupta said when asked
whether the Rebate of State Levies on Export of Garments scheme will continue in the present
form during GST regime.

TOP CORPORATE NEWS -

Lupin Limited has launched the generic Wellbutrin XL tablets in the United States, the company
informed the bourses. Wellbutrin XL is used to treat major depressive disorder in adults and has
US sales of $ 758 million, till May 2017, as per data available by IMS.

Wipro Limited rallied almost 1.5% as it won an IT applications managed services contract from
the Finnish Company, Valmet, during Thursdays trading session.Valmet is a global developer and
supplier of technologies, automation and services for pulp, paper and energy industries.As part of
the multi-year contract, Wipro will provide maintenance and support for the new ERP platform in
geographies in which Vamlet operates. It will also provide support for end-to-end testing
activities around the implementation and rollout of the new ERP platform.

Aarti Industries Limited signed Rs. 4,000 crore multi-year deal with a global agriculture
company to supply a high-value agrochemical intermediary, the company informed the bourses
on Thursday. The contract entails supply of a high-value agrochemical intermediary, for use in
herbicides, over a 10-year period. AIL will invest about Rs. 400 crore in the project, according to
a exchange filing.

Cadila Healthcare Limited announced that Zydus Cadila has received final approval from the
U.S FDA to market Acyclovir for injection USP in the strengths of 500 mg/vial and 1000 mg/vial.
Acyclovir for Injection USP, which caters to the anti-viral segment will be produced at the
groups formulations manufacturing facility at Moraiya, Ahemdabad.

Wockhardt Limited has received tentative approval from the U.S FDA for Bendamustine
Hydrochloride injection, which is used in chemotherapy, reported a leading news agency. The
stock was trading higher by 2.9% at Rs 643.25 per share at 0929 hours IST on BSE. It hit a high
of Rs 644.80 and a low of Rs 630.70 in the morning session.

NTPC Limited, a state-owned company engaged in generation of electricity, has awarded Mine
Developer-cum-Operator contract for the company Dulanga coal mine in Odisha. The contract is
part of the company's plan to produce 3 million tonnes of the dry fuel in FY18. During the last
fiscal, the power giant has debute into coal mining.

Alkem Labs, a multinational pharma company, on Thursday received the U.S FDA approval for
Itraconazole capsules. The capsules are used to treat fungal infections. Itraconazole capsules are
used to treat fungal infections in the lungs that can spread throughout the body. They are also
used to treat fungal infections of the fingernails and toenails, etc.

Gujarat Pipavav Port surged more than 8% in Wednesdays trading session. The stock was
trading higher by 8.2% at Rs 147.95 per share at 1516 hours. The companys 16.7 lakh shares
traded in a block deal on NSE at 142.10 per share. The stock has underperformed both BSE
Mid-cap and Nifty Services Sector index over a period of one year. The free-float market
capitalisation of the company is Rs 3,765.54 crore.

Inox Wind informed the bourses that CRISIL Limited has reaffirmed the CRISIL AA-' rating
for the company's Long-Term Bank Facilities and CRISIL A1+' rating for Short Term Bank
Facilities. CRISILs AA rating for long-term instruments is the second highest rating for
long-term facilities and reflects high degree of safety regarding timely servicing of financial
obligations and very low credit risk.

Ashok Leyland, an automobile manufacturing company, on Tuesday announced that under the
scheme of amalgamation of Hinduja Foundries with Ashok Leyland, the company has allotted
806,58,292 equity share of face value Rs 1 each, fully paid-up to the equity shareholder of
Hinduja Foundries as on record date of June 7 2017.

Dr. Reddys Laboratories on Tuesday informed the bourses that its API manufacturing facility at
Miryalaguda has received an Establishment Inspection Report (EIR) from the US FDA after the
closure of audit. The stock is trading higher by 1.2% at Rs 2,661.50 per share at 1007 hours IST
on BSE. It hit a high of Rs 2,681 and a low of Rs 2,647 during the morning session. The market
capitalisation of the company is Rs 44,724.48 crore.

Tata Motor Limited Committee of the Board to meet next week to consider raising Rs 500 crore
through non-convertible debentures. The 1company is willing to offer the eighth series of its
rated, listed, unsecured, redeemable NCDs, aggregating to Rs 500 crore.

Indias leading two-wheeler maker, Hero MotoCorp plans to invest around Rs 2,500 crore in the
next two financial years up to 2018-19, a leading news agency reported. The investment will be
utilised for digitisation, products development, phase-wise capacity installation and in brown and
greenfield expansion. The company is driving toward 100 million in sales and has crossed 70
million, a leading news agency reported.

The board of state-owned Canara Bank approved plans to raise a sum of Rs 6,300 crore,
including Rs 3,500 crore in equity capital. The funds will be utilised to meet the growing business
and regulatory requirements.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

State-owned lenders Bank of Maharashtra and Corporation Bank have slashed their MCLR
rates in the range of 0.05 to 0.35 per cent. Bank of Maharashtra has slashed its marginal cost of
funds based lending rates by up to 0.35 per cent with effect from June 7, 2017," it said in a
release.

Public sector Central Bank of India has been placed under the RBI's watchlist on Prompt
Corrective Action owing to high bad loans and negative return on assets. IDBI Bank, Indian
Overseas Bank, UCO Bank and Dena Bank have already come under the PCA initiated by the
Reserve Bank of India, which is a noose-tightening on fresh loan disbursal as well as dividend
distribution. Reserve Bank of India, vide its letter dated June 13, 2017, has put the bank under
Prompt Corrective Action in view of high NPA and negative return on assets ," Central Bank of
India said in a regulatory filing today.

As part of their turnaround strategy, IDBI Bank has announced formation of a separate vertical
having around 100 dedicated staff to recover their mounting Non Performing Assets, which now
stand at around Rs. 45,500 crores. Apart from creating this NPA recovery vertical, the bank
management has formed a 'Credit Monitoring Group' to find out potential NPAs based on early
warning signals, said Deputy Managing Director of IDBI Bank, G M Yadwadkar.

State Bank of India said its paid up capital has increased to Rs. 863 crore following the Rs.
15,000 crore share sale through qualified institutional placement route. "Pursuant to the allotment
of equity shares in the issue, the paid up equity share capital of the bank stands increased from Rs
810 crore to Rs 863 crore," SBI said in a regulatory filing to stock exchanges.
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be directly or indirectly related to the specific recommendations or views contained in this research
report.
Disclosure in terms of Conflict of Interest:
(a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the
subject company and the nature of such financial interest;
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ownership of one percent or more in the securities of the subject company,
(c) High Brow Market Research Pvt. Ltd. or its associate has no other material conflict of interest at
the time of publication of the research report or at the time of public appearance;

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High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals
reporting to analysts from owning securities of any company in the analyst's area of coverage.
Analyst compensation: Analysts are salary based permanent employees of High Brow Market
Research Pvt. Ltd.

Disclosure in terms of Public Appearance:

(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from
the subject company in the past twelve months;
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employee of the subject company;
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subject company.