Today: Govt offer-for-sale of 11.36% in NHPC; T-bills auction; Thyrocare Technologies IPO opens; Bharti Airtel, Exide Industries, Yes Bank are among cos to announce earnings. WHAT TO WATCH:
- Govt seeks bankers bids by May 18 for Oil India OFS
- India to test 20 indigenously developed Bt Cotton varieties
- Adverse weather affected 904,000 hectares of India wheat crop
- BSE JV Asia Index introduces gold hedged indices: Statement
- Much of South Asia may get above-normal monsoon rain in 2016
- India top court seeks disclosure of Mallya, family's assets
- Bharti Airtel to consider shr buyback, dividend
- Global funds +5.12b rupees of local stocks; domestic funds +212.1m rupees yday: Provisional data
MEDIA REPORTS:
- India trade unions plan protest Apr. 29 on EPF rate cut: PTI
- Air India to retire 4 Airbus A320 aircraft in FY17: PTI
- State-run Indian companies considering share buybacks: ET
- India to decide on Xiaomi stores without local sourcing: ET
- India working on 100b-rupee stressed bank asset fund: TOI
ECONOMY:
- 04/27-04/29: Eight infrastructure industries index for March (Prior +5.7%)
CENTRAL BANK:
- Govt to sell 90b rupees 91-day, 60b rupees 364-day T-bills
- RBI to purchase 150b rupees of govt bonds April 28 via OMO
GOVERNMENT:
- 10am: NITI Aayog meeting on urban management in New Delhi
- 12:15pm: Defence Minister at placement ceremony of retiring Indian Air Force personnel in New Delhi
- 3pm: Junior I&B Minister at IIMC function in New Delhi
BOND SALES:
- Exim Bank sells INR4b 15-yrs bonds at 8.12%
EARNINGS: (net income adj. ests. in INR where available)
- Alembic Pharmaceuticals (ALPM) 4Q 1.59b (10 analysts)
- Bharti Airtel (BHARTI) 4Q 12.3b (20)
- Ceat (CEAT) 4Q 1.13b (3)
- Coromandel International (CRIN) 4Q 874m (11)
- Exide Industries (EXID) 4Q 1.51b (18)
- FAG Bearings India (FAG) 1Q 512m (3)
- GATI (GTIC) 4Q
- Gateway Distriparks (GDPL) 4Q 285m (8)
- INOX Leisure (INOL) 4Q -28.5m (4)
- JSW Energy (JSW) 4Q 3.08b (13)
- Kansai Nerolac Paints (KNPL) 4Q 741m (5)
- KPIT Technologies (KPIT) 4Q 749m (14)
- Lakshmi Vilas Bank (LVB) 4Q 441m (6)
- Sadbhav Engineering (SADE) 4Q 399m (10)
- Shriram City Union Finance (SCUF) 4Q 1.46b (12)
- Yes Bank (YES) 4Q 6.82b (22)
CONFERENCES/CORPORATE EVENTS:
- 10am: CII conference on infrastructure in Mumbai
- 10am: Dun & Bradstreet to release report on food supply chain in New Delhi
- 11:45am: Yes Bank 4Q FY16 results conference in Mumbai
- Noon. Royace Eye Industries media briefing in New Delhi
- 12:30pm: DLF Ltd. to launch DLF Mall of India in Noida
- 6:30pm: LG Electronics India media briefing in Mumbai
- AGMs:
- FAG Bearings India
OFFERINGS:
- 9:15am: Govt. offer-for-sale NHPC's 11.36%, or ~1.26b shrs, at floor price of INR21.75 each for non-retail investors; retail investors' offer opens Thursday
- Thyrocare Technologies IPO opens for sale, closes April 29
ANALYST RATINGS/RESEARCH:
- ABB India cut to sell at Quant Broking Pvt Ltd
MARKETS:
- S&P 500 +0.19% to 2,091.70
- Stoxx Europe 600 +0.18% to 347.31
- MSCI Asia Pacific Index -0.38% to 131.84
- Global Commodity Prices Overview
- Gold spot +0.11% to $1,244.86 oz
- Brent futures +1.14% to $46.26/bbl
- SGX CNX Nifty Index futures for April delivery +0.13%
- Sensex +1.28% to 26,007.30
- Nifty +1.37% to 7,962.65
- Yield on 7.59% bonds maturing Jan. 2026 at 7.47% on April 26
- INR +0.1% to 66.5250/USD
EQUITY PREVIEW:
- Axis Bank (AXSB): 4Q profit INR21.5b, est. INR23.3b
- Bharti Infratel (BHIN): 4Q profit INR6.6b, est. INR6b; Approves buyback
- Gujarat Narmada (GNFC): 4Q profit INR990.9m vs 3.26b loss yr ago
- JK Cement (JKCE): Stops clinker cement output at Muddapur unit
- Mangalore Refinery (MRPL): May shut refinery if India water crisis persists
- NHPC (NHPC): OFS floor price set at INR21.75/shr
- OIL India (OINL): Govt seeks proposals for sale up to 10%
- Rallis India (RALI): 4Q profit INR322.5m, est. INR175m
- Raymond (RW): 4Q profit INR562.2m, est. INR259m
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