1) India Nifty Futures Gain After Indexes Climb to Three-Week High
(Bloomberg) -- Indian stock-index futures rose after benchmark gauges climbed to a three-week high on Wednesday as foreign capital returned to the country's equity market. SGX Nifty Index futures for December delivery rose 0.2 percent at 9:36 a.m. in Singapore. The underlying Nifty 50 Index rallied 1 percent on Wednesday to the highest close since Dec. 2. The S&P BSE Sensex also advanced 1 percent. The Bank of New York Mellon India ADR Index of U.S.-traded shares added ...
2) INDIA DAYBOOK: Modi-Putin Talks, RBI Report, ONGC, Tree House
(Bloomberg) -- Loan growth at Indian banks slowed, bad loans rose in 6 months through Sept., RBI says. Today: PM Narendra Modi holds talk w/ Russian President Vladimir Putin; Road Transport Minister Nitin Gadkari speaks in New Delhi. Bond, currency markets shut for holiday. (Please click here to subscribe to India Daybook) WHAT TO WATCH: * Asian stocks advance as crude oil futures rise for 4th day * Lending growth slows amid rising ...
3) Anil Ambani Said to Seek $756 Million Value for Cement Plants
(Bloomberg) -- Billionaire Anil Ambani's Reliance Infrastructure Ltd. is seeking to sell its cement assets for an enterprise value of about 50 billion rupees ($756 million) in a deal expected to be announced by year end, people familiar with the matter said. The company is in talks with cement makers as well as private equity firms including Blackstone Group LP and Carlyle Group LP, the people said, asking not to be identified because the ...
4) New Delhi Is About to Find Out How Hard It Is to Have Clean Air
(Bloomberg) -- New Delhi resident Lizu Matta, 29, is unsure how she's going to commute to work in the new year with the start of traffic controls aimed at benching half the Indian capital's 2.8 million private vehicles on alternate days. There's the overcrowded subway, or the risk of a fine if she gets caught driving when she shouldn't. For the city's more than 16.8 million residents, Jan. 1 marks the beginning of the most draconian measures ...
5) Modi Agenda Scuttled by Partisan Gridlock, Key Bills Stalled
(Bloomberg) -- India's parliament shut its doors for 2015 in what was a frustrating year for Prime Minister Narendra Modi as opposition parties, emboldened by a recent election victory in a key state, blocked crucial bills in tit-for-tat politics. Legislation on a proposed national sales tax, real estate regulations, as well as a new bankruptcy code stay stalled as the Indian National Congress and allies thwarted functioning of the legislature on issues ranging from ...
6) Indian Bonds Complete Weekly Decline on Fiscal Deficit Concern
(Bloomberg) -- India's 10-year sovereign bonds completed a weekly decline on concern the government will struggle to meet its budget-deficit target and borrow more to bridge the shortfall. A proposed increase in salaries of millions of civil servants and a plan to clear the debts piling up at power distribution companies threaten Finance Minister Arun Jaitley's goal of fiscal consolidation. The government may have to reassess its fiscal projections for the year starting ...
7) Indian Lending Growth Slows Amid Rising Risks to Banks, RBI Says
(Bloomberg) -- Loan growth at Indian banks slowed in the six months through September while bad loans rose, signaling increased risks to lenders, the Reserve Bank of India said in a report. "Risks to the banking sector increased due to deteriorating asset quality, lower soundness and sluggish profitability," the RBI, which is also the industry's regulator, said in a report Wednesday. Credit growth slowed to 9.4 percent in the period from 9.7 percent at ...
8) INDIA OPTIONS WRAP: VIX Drops to Nine-Month Low as Nifty Gains
(Bloomberg) -- India's VIX index -5.7% to 13.65 yday, lowest since March 25, vs 3-mo. avg 17.36. * Nifty put/call open interest ratio 0.83 vs 3-mo. avg 0.92 * Bank Nifty ATM implied volatility 14.6% vs 3-mo. avg 21.5% * Foreigners buy net $83.8m of index futures * Foreigners sell $22.9m of index options * Foreigners buy $37.7m of stk futures * Foreigners sell $5.2m of stk options * Foreigners buy $92.6m of stks on Dec. 22; YTD net purchases $2.9b * CNX ...
9) ASIA STOCKS WEEK AHEAD: China Manufacturing, Japan Unemployment
(Bloomberg) -- A look at the coming week in Asian equity markets (Bloomberg data unless stated -- click here to receive story and Asia Daybook in your inbox). WHAT TO WATCH: * BOJ Governor Kuroda speaks * China Industrial Profits, Manufacturing PMI * Hong Kong Trade Balance * Macau visitor arrivals * Taiwan's presidential candidates in televised policy addresses * Some markets closed for Christmas Day and New Year's Day FRIDAY, Dec. 25 * ...
10) Inox Wind Plans New Products as Margin Lags Behind China Rival
(Bloomberg) -- Inox Wind Ltd., India's most profitable wind turbine maker, seeks to add new products and cut costs to improve profit margins that lag behind Chinese and Brazilian rivals. The company, based near New Delhi, is targeting to widen its earnings margin before interest, taxes, depreciation and amortization to 20 percent from 16 percent, said Director Devansh Jain. Inox Wind's three-year average Ebitda margin of 15 percent compares with the 56 percent for Renova ...
11) INSIDE INDIA: Rupee Up; External Sector Remains Strong: Barclays
(Bloomberg) -- Rupee set for seventh day of advance, which would be longest winning streak in nine months; Indian bond and currency markets are shut on Dec. 24 and Dec. 25 for holidays. * Current-account deficit widened more than estimated in 3Q * Nation's external sector appears well placed and likely to remain so in coming quarters, Barclays says in a note today; recent sharp drop in crude oil prices mean that the current account deficit may be smaller than ...
12) India Clears Arbitration Law to Resolve Commercial Disputes
(Bloomberg) -- Indian lawmakers approved a bill to hasten resolution of commercial disputes through arbitration, another step in Prime Minister Narendra Modi's plan to make it easier to do business in Asia's third-largest economy. The law would impose deadlines to resolve cases, empower tribunals to enforce decisions, and limit the courts' ability to challenge awards. The bill will replace an executive order announced in October and amend a 1996 law, taking India a ...
13) Kalpataru Power Transmission Wins INR13.95b Contracts; Shrs Rise
(Bloomberg) -- Wins order valued at 7.7b rupees for turnkey transmission line project from Tamil Nadu state; also wins orders from Telangana state, Reliance Gas: filing. * Domestic order inflow almost doubled this FY to ~21b rupees, CFO Kamal Jain says * Shrs rise as much as 6.6% to highest since Dec. 4 * Stk +25.5% YTD vs 6% drop in Sensex
14) India's Central Bank Says GST an 'Immediate Necessity'
(Bloomberg) -- "The recent Fed Fund rate hike and the developments in China call for a careful calibration of domestic policies to withstand global headwinds," Indian central bank Governor Raghuram Rajan writes in foreword to the Financial Stability Report. * Although India appears better placed than other emerging markets, vulnerabilities of corporates and their impact on the financial system needs closer monitoring: Rajan * "More erratic and ...
15) L&T Construction Wins Orders Valued at 11.8b Rupees in Dec.
(Bloomberg) -- Metallurgical & material handling unit wins orders valued at 6.63b rupees. * Power trnasmission and distribution unit won orders valued at 5.15b rupees * Shrs rise as much as 1% Link to Statement:Link
16) U.S. Calls for 256% Tariff on Imports of Steel From China
(Bloomberg) -- Corrosion-resistant steel imports from China were sold at unfairly low prices and will be taxed at 256 percent, according to a preliminary finding of the U.S. Department of Commerce. Imports from India, South Korea and Italy will be taxed at lower rates, the agency said Tuesday in a statement. Imports from Taiwan and Italy's Marcegaglia SpA will not face anti- dumping tariffs. The government found dumping margins of 3.25 percent for most South Korean ...
17) Indian States to Soon Issue Bonds for Discoms' Debt Recast: ET
(Bloomberg) -- Notes worth INR700b to INR1t likely to be issued in next three months to "help clean up balance sheets" of ailing power distribution cos, Economic Times newspaper reports, citing Power Minister Piyush Goyal. * Goyal says "we have started hearing from states how they are planning to launch bonds to bring down their interest costs:" ET * NOTE: India Deficit to Rise as States Take On Power Companies' Debt
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at https://groups.google.com/group/longterminvestorsresearch.
For more options, visit https://groups.google.com/d/optout.
No comments:
Post a Comment