{LONGTERMINVESTORS} INDIA DAYBOOK: ICICI Bank, Thyrocare, Bond Sales, Term Repo, FX

 

Today: RBI to hold bonds, term-repo auctions; ICICI Bank, Marico, InterGlobe Aviation, IDFC, UPL, are among cos to announce earnings. WHAT TO WATCH:

• India 2016-17 sugar season output est. at 23-24m tons
• RBI says 4 of 5 external members recommended rate cut
• India writes to U.K., seeks Mallya deportation
• India potash imports to surge as monsoon boosts crop outlook
• Cholamandalam Investment to consider debentures issue
• Great Eastern Shipping to consider issue of NCD up to INR5b
• IDBI Bank to consider shrs issue proposal, bonds sale
• India sees rough diamond imports up 10% or more after 16% slide
• Global funds +1.21b rupees of local stocks; domestic funds -4.16b rupees yday: Provisional data

MEDIA REPORTS:

• Electrosteel Steels said to attract no serious bidders: CNBC
• India EPFO, LIC buy one-sixth of India's power debt: Reuters
• Panel Says Reliance Can Recover Cost on Unviable Discovery: BS
• India Panel to Indentify State Lenders for Mergers: ET

ECONOMY:

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

CENTRAL BANK:

• 10am: RBI Deputy Governor Gandhi at FICCI conference in Mumbai
• Govt to sell 150b rupees of four dated bonds: RBI
• RBI to conduct 190b rupees 14-day term repo auction
• Release of weekly FX, bank credit data

GOVERNMENT:

• 5:00pm: Road Minister at meeting on road safety in New Delhi
• 2:15pm: Power Minister at event in New Delhi

BOND SALES:

• HDFC to sell INR5b March 2019 bonds at 8.34%
• Konkan Railway priced INR500m 10-yrs bonds at 8.3%
• RBI buys INR150b of bonds via open-market operation

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

• Ajanta Pharma (AJP) 4Q 1.01b (3)
• Astra Microwave Products (ASTM) 4Q
• Atul (ATLP) 4Q 605m (3)
• Cholamandalam Investment (CIFC) 4Q 1.63b (11)
• GIC Housing Finance (GICHF) 4Q 322m (3)
• ICICI Bank (ICICIBC) 4Q 30.7b (25)
• IDFC (IDFC) 4Q 2.24b (4)
• InterGlobe Aviation (INDIGO) 4Q 5.02b (3)
• Linde India (LIIL) 1Q
• Marico (MRCO) 4Q 1.35b (23)
• Oberoi Realty (OBER) 4Q 1.01b (9)
• Sanofi India (SANL) 1Q 668m (5)
• State Bank of Bikaner and Jaipur (SBBJ) 4Q
• Shriram Transport Finance (SHTF) 4Q 2.93b (21)
• UPL (UPLL) 4Q 4.79b (14)

CONFERENCES/CORPORATE EVENTS:

• 9:30am: ICRIER and World Bank to release report on apparel employment,, trade and economic development in New Delhi
• 10am: Indian Retail Congress 2016 & Indian eRetail Congress 2016 in Gurgaon
• 11am: AIAI session on trade credit to MSMEs' in Mumbai
• 3pm: Zone Startups India to launch 'empoWer' in Mumbai
• 4pm: India Ratings and Research holds webinar on FY17 credit outlooks in textiles sector

OFFERINGS:

• Thyrocare Technologies IPO gets demand for 224% on 2nd day of sale yday, offer to close today
• Ujjivan Financial IPO gets demand for 21% on 1st day of sale yday, offer to close May 2.

ANALYST RATINGS/RESEARCH:

• IDFC Bank rates new outperform at Credit Suisse

MARKETS:

• S&P 500 -0.9% to 2,075.81
• Stoxx Europe 600 -0.2% to 3,125.43
• MSCI Asia Pacific Index +0.2% to 131.09
• Global Commodity Prices Overview

• Gold spot +0.8% to $1,255.50 oz
• Brent futures -0.3% to $47.05/bbl

• SGX CNX Nifty Index futures for April delivery -0.5%

• Sensex -1.8% to 25,603.10
• Nifty -1.7% to 7,847.25

• Yield on 7.59% bonds maturing Jan. 2026 at 7.44% on April 28
• INR -0.1% to 66.52/USD

EQUITY PREVIEW:

• Ambuja Cements (ACEM): 1Q profit -4.4% y/y to INR3.04b, est. 2.53b
• Coal India (COAL): Sets FY17 production target at 598.6m tons: Goyal
• Essel Propack (ESEL): 4Q profit INR489m vs 396m yr ago
• Granules India (GRAN): 4Q profit INR331.9m, est. 321m
• Idea Cellular (IDEA): 4Q net income -39% to INR5.76B, est. 5.25b
• Tata Steel (TATA): U.K. govt helping find solution to Tata pension liabilities: Javid
• Vedanta (VEDL): 4Q loss at INR111.8b vs 192.3b loss yr ago
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