{LONGTERMINVESTORS} INDIA DAYBOOK

 

 

RBI to hold variable rate, term repo auctions; fiscal-deficit data; PM Narendra Modi to take part in Nuclear Security Summit in U.S.; FM Arun Jaitley to address in Canberra, Australia. WHAT TO WATCH:

• RBI revises some overseas borrowing norms
• GIC and Brigade jointly acquire property in India for $81m
• Jaiprakash Associates to review progress of divestment deals
• Syndicate Bank to consider INR7.4b shrs issue to govt
• Kilburn Engineering to consider absorbing Mcnally Bharat, EMC and McNally Sayaji
• Indebted former India billionaire offers $904m settlement
• Swiss gold exports fall to 18-mos low on China, India demand
• India construction-equipment market may be biggest since 2012
• Vijaya Bank to sell shrs to LIC of India at 30.75 rupees each
• Global funds +14.4b rupees of local stocks; domestic funds -3.97b rupees yday: Provisional data
• Stock rally continues in Asia on dovish Fed as oil resumes drop

MEDIA REPORTS:

• Jaypee Infra Lenders May Take Over Yamuna Land Parcel: CNBC
• Mallya May Offer His United Breweries Shares to Heineken: TOI
• Westinghouse Sees India Reactor Deal Signed in June: Reuters

ECONOMY:

• Finance Minister will speak in Canberra, Australia
• Fiscal deficit in rupees for April-Feb. period
• 03/30-03/31: Eight infrastructure industries index for Feb. (Prior +2.9%)

CENTRAL BANK:

• 9:15am: RBI to conduct 500b rupees, 4 day variable rate repo auction
• RBI to conduct 275b rupees of 13-day term-repo auction

GOVERNMENT:

• 12:30pm: Power Minister to launch 'Vidyut PRAVAH' in New Delhi
• 4pm: River Development Minister briefing on Water Week in New Delhi
• 5pm: Chemicals Minister holds press conference in New Delhi

BOND SALES:

• Dewan Housing raises INR7.5b selling 9.4% 2y-2mo. NCDs
• State Bank of Travancore sells INR5.15b 8.45% 10NC5 bond

CONFERENCES/CORPORATE EVENTS:

• 11:30am: Samsung to brief about smartphone in New Delhi
• 3pm: DIPP Secretary to launch IP Panorama in New Delhi
• 7pm: KPMG media session on cyber security in Gurgaon

OFFERINGS:

• Ashok Leyland unit Hinduja Leyland filed DRHP for proposed IPO
• Healthcare Global drops 22% below IPO price in Mumbai debut

ANALYST RATINGS/RESEARCH:

• Britannia Industries raised to buy at Anand Rathi Securities. 12-mo. target INR 3,400/shr

MARKETS:

• S&P 500 +0.4% to 2,063.95
• Stoxx Europe 600 +1.3% to 341.18
• MSCI Asia Pacific Index +0.3% to 129.1
• Global Commodity Prices Overview

• Gold spot +0.3% to $1,228.88/oz
• Brent futures -0.6% to $39.01/bbl

• SGX CNX Nifty Index futures for March delivery little changed at 7,789

• Sensex +1.8% to 25,338.58
• Nifty +1.8% to 7,735.20

• Yield on 7.59% bonds maturing Jan. 2026 at 7.49% on March 30
• Rupee +0.2% to 66.3850/USD

ADRs (traded value):

• ICICIBank +3.8% ($70.7m), Wipro +1.1% ($5.6m), WNS Holdings +1.4% ($4.9m), Tata Motors +1.3% ($49.9m), Dr Reddy's +2.4% ($19.0m), HDFC Bank +2.9% ($72.5m), Infosys +2.5% ($103.6m)

EQUITY PREVIEW:

• Cadila Healthcare (CDH): Says unit in U.S. gets first ANDA approval for Dextroamphetamine IR tabs
• Gammon India (GMON): To consider investment proposal in EPC unit on April 2
• Hindustan Zinc (HZ): To pay special dividend of 24 rupees/shr
• IIFL Holdings (IIFL): Unit IIFLW approved conversion of 13.6m warrant into shrs by General Atlantic after receiving INR5.9b
• Jain Irrigation (JI): Unit JFFFL raises INR4.02b via equity issue
• Kansai Nerolac (KNPL): Says completed Perungudi land sale for INR5.4b
• Mercator Lines (MRLN): Gets Singapore exchange nod to divest unit
• Natco Pharma (NTCPH): Approved sale of U.S.-based Save Mart Pharmacy
• Sakthi Sugars (STSG): Says court gave time until June to settle dues to bondholders
• Tata Steel (TATA): Plan to sell U.K. unit; U.K. asset book value almost zero after impairments
• Trent (TRENT): Says forms unit Westland Publications
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