Today: Govt offer-for-sale in NHPC for retail investors; Ujjivan Financial IPO opens; RBI to hold OMO; Vedanta, HCL Technologies, Idea Cellular, ACC, Ambuja Cements are among cos to announce earnings. WHAT TO WATCH:
- India panel approves insolvency laws, sets stage for passage
- Bill makes it easy for banks to recover dues from defaulters
- Iran seeks libor-linked interest from India on oil dues delay
- India's top court to consider parole to Sahara's Roy
- SunEdison bankruptcy floods India's market for green projects
- Cameron: 'we can see success' in finding Port Talbot buyer
- Cabinet approves imposing sugar stock holding limit
- Panel recommends relaxing local sourcing norms for Apple
- Global funds +2.22 rupees of local stocks; domestic funds -7.48b rupees yday: Provisional data
MEDIA REPORTS:
- Aditya Birla Prepares Foray Into Defense: Economic Times
- Maharashtra State May Allow Offshore Casinos: ET Reports
- Russia, India sign accord on S-400 missiles: Interfax
- Liberty House said to submit LOI for Tata's Port Talbot: CNBC
- India's Petronet issues tender to buy 2 LNG cargoes: Reuters
- U.K.'s Javid to be questioned by MPs on steel industry: PA
ECONOMY:
- 04/27-04/29: Eight infrastructure industries index for March (Prior +5.7%)
CENTRAL BANK:
- RBI to purchase INR150b of bonds via open-market operations
BOND SALES:
- LIC Housing to sell INR5b Oct 2019 bonds at 8.37%
- Power Finance sells INR3b 5-yrs bonds at 8.05%
EARNINGS: (net income adj. ests. in INR where available)
- ACC (ACC) 1Q 1.9b (18 analysts)
- Ambuja Cements (ACEM) 1Q 2.53b (22)
- Can Fin Homes (CANF) 4Q
- Dabur India (DABUR) 4Q 3.19b (22)
- Essel Propack (ESEL) 4Q 494m (4)
- Granules India (GRAN) 4Q 321m (5)
- HCL Technologies (HCLT) 3Q 18.6b (26)
- Hindustan Construction (HCC) 4Q 100m (5)
- Idea Cellular (IDEA) 4Q 5.13b (20)
- Kajaria Ceramics (KJC) 4Q 655m (9)
- Tata Elxsi (TELX) 4Q
- Tata Metaliks (TML) 4Q
- Vedanta Ltd. (VEDL) 4Q 2.73b (13)
CONFERENCES/CORPORATE EVENTS:
- 9:15am: Govt. offer-for-sale in NHPC for retail investors opens
- 11am: Synchrony Financial hosts interaction in Hyderabad
- 12:30pm: The Gem and Jewellery Export Promotion Council to announce annual performance in Mumbai
- 12:30pm: IIFA press conference in New Delhi
- 2pm: ICRA webinar on 'Indian Passenger and Commercial Vehicle Industry'
- 4pm: India Ratings and Research webinar on FY17 credit outlooks of fertilisers sector
OFFERINGS:
- 9:15am: Govt. offer-for-sale for retail investors opens
- Thyrocare Technologies IPO opens; gets demand for 56% on first day of sale yday, offer to close April 29
- Ujjivan Financial IPO opens for sale, closes May 2; Co. raised INR2.65b, selling 12.6m shrs to anchor investors at INR210/shr yday.
MARKETS:
- S&P 500 +0.2% to 2095.15x
- Stoxx Europe 600 +0.3% to 3130.43
- MSCI Asia Pacific Index +0.5% to 132
- Global Commodity Prices Overview
- Gold spot +0.2% to $1,246.10 oz
- Brent futures +1.8% to $46.54/bbl
- SGX CNX Nifty Index futures for April delivery +0.5%
- Sensex +0.22% to 26,064.12
- Nifty +0.22 to 7,979.90
- Yield on 7.59% bonds maturing Jan. 2026 at 7.46% on April 27
- INR +0.1% to 66.4525/USD
EQUITY PREVIEW:
- Bharti Airtel (BHARTI): 4Q net income INR12.9b, beats est. 11.5b; To buy back INR14.3b of shrs
- Bharat Petroleum (BPCL): permitted to raise investment in Bharat Oman Refineries
- Ceat (CEAT): 4Q profit INR1.05b, est. 1.11b
- Exide Industries (EXID): 4Q profit INR1.78b, est. 1.51b
- GATI (GTIC): 4Q net income INR155.4m vs 113.4m yr ago
- Infosys (INFO): Announces it has made investment in Trifacta
- JSW Energy (JSW): 4Q net income INR3.05b, est. 3.08b
- Kansai Nerolac (KNPL): 4Q profit INR6.16b vs 603.7m yr ago; Co. has exceptional gain of INR5.35b in 4Q
- KPIT Technologies (KPIT): 4Q profit INR885m, est. 749m
- Mangalore Chemicals (MCF): Says city corp. stops water supply to co. which reduced capacity ops at ammonia & urea plants
- Rico Auto (RAI): Starts commercial production at Chennai plant
- Suzlon Energy (SUEL): Approves demerger of unit's Tubular Tower division & merge 3 group units with itself
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