{LONGTERMINVESTORS} INDIA DAYBOOK: Axis Bank, Maruti Suzuki, States Bond, Term Repo

 

 

Today: RBI holds term-repo, states bond auctions; Axis Bank, Maruti Suzuki India, IDFC Bank, Biocon, Bharti Infratel are among cos to announce earnings. WHAT TO WATCH:

• Fitch Ratings, Indian govt said to plan meeting in June
• India trying to cut regulation for new cos to minimum: Rajan
• India said to plan easing overseas flying rules for airlines

• India said to plan easing rules aiding Singapore Air, AirAsia

• India's energy minister wants to cut coal imports to nothing
• India notifies rule to include panic button in mobile phones
• Bharati Infratel to consider dividend or shr buyback
• Global funds +2.22 rupees of local stocks; domestic funds -7.48b rupees yday: Provisional data
• Mallya faces expulsion from Indian Parliament as passport voided

MEDIA REPORTS:

• India said to work on second relief package for steel: BTVI
• Govt plan to cut IDBI Bank stake may be delayed: BTVI/Cogencis
• Sumitomo in talks to buy stake in Excel Crop: Financial Express
• Airtel seeks nod to offer video on closed network: Standard
• India issues draft rules for drone users: Business Standard

ECONOMY:

• 04/26-04/29: Eight infrastructure industries index for March (Prior +5.7%)

CENTRAL BANK:

• 9:40am: RBI executive director at at CATMi conference in Mumbai
• Eight Indian states govt to sell INR48.2b of debt
• RBI to conduct 150b rupees, 14-day, term repo auction

GOVERNMENT:

• 11am: Road Transport Minister to inaugurate conference in Delhi

BOND SALES:

• India to sell 150b rupees of bonds on April 29
• Power Finance to sell INR3b 5-yrs bonds at 8.05%
• Power Grid Corp. sells INR39.96b 15-yrs bonds at 8.13%

EARNINGS: (net income adj. ests. in INR where available)

• Agro Tech Foods (ATFL) 4Q 109m (3 analysts)
• Axis Bank (AXSB) 4Q 23.3B (28)
• Bharti Infratel (BHIN) 4Q 6b (16)
• Biocon (BIOS) 4Q 1.13b (12)
• Gujarat Narmada Valley Fertilizers (GNFC) 4Q
• IDFC Bank (IDBI) 4Q 2.52b (6)
• KSB Pumps (KSB) 1Q
• Mahindra Lifespace Developers (MLIFE) 4Q 298m (3)
• Maruti Suzuki India (MSIL) 4Q 11.9B (27)
• Rallis India (RALI) 4Q 175.5m (11)
• Raymond (RW) 4Q 259m (4)
• Syngene International (SYNG) 4Q 688m (3)
• State Bank of Mysore (SBMS) 4Q
• Snowman Logistics (SNLL) 4Q

CONFERENCES/CORPORATE EVENTS:

• 110am: DBS Group Holdings briefing in Mumbai
• 12:30pm: Parag Milk Foods to brief on IPO plans in Mumbai
• 1:45pm: Maruti Suzuki briefing on 4Q FY16 earnings in Delhi
• 6pm: IDFC Bank briefing on annual performance in Mumbai

OFFERINGS:

• Parag Milk Foods may announce price band & offering dates for IPO

ANALYST RATINGS/RESEARCH:

• Mahindra Financial raised to neutral at Macquarie Research

MARKETS:

• S&P 500 -0.2% to 2,087.79
• Stoxx Europe 600 -0.5% to 346.68
• MSCI Asia Pacific Index -0.5% to 132.19
• Global Commodity Prices Overview

• Gold spot +0.1% to $1,239.49 oz
• Brent futures +1.1% to $44.98/bbl

• SGX CNX Nifty Index futures for April delivery -0.2%

• Sensex -0.62% to 25,678.93
• Nifty -0.56 to 7,855.05

• Yield on 7.59% bonds maturing Jan. 2026 at 7.47% on April 25
• INR -0.2% to 66.6175/USD

EQUITY PREVIEW:

• ABB India (ABB): 1Q net income INR709.8m, est. 747m
• Coal India (COAL): Drop forces Indian monopoly miner to alter sales tactic
• Engineers India (ENGR): Signs contract w/ Bangladesh Petroleum for PMC services
• Indiabulls Housing (IHFL): 4Q profit INR6.76b, est. 6.7b
• Tata Chemicals (TTCH): Says Babrala fertilizer plant resume ops
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