{LONGTERMINVESTORS} INDIA DAYBOOK: Vedanta, T-Bills, Quess Corp IPO, Banking Risk

 

 

Today: RBI to hold t-bills auction; Quess Corp IPO opens; Vedanta, UPL, Corporation Bank among cos to hold shareholders' meetings. WHAT TO WATCH:

• RBI sees sharp increase in banking risk as bad loans surge

• Profitability at lenders falls to lowest level since 1999

• India names N.S. Vishwanathan as RBI deputy governor
• India's coal import in April-May falls 5% y/y to 35.85m tons
• RBI says 3-panel members recommended no rate cut for June 7
• Iran sees Indian cos. spending $235m on Chabahar Port: IRNA
• Iran will ban rice imports, effective July 22
• India monsoon rainfall 13% below normal June 28
• State Bank of India to consider raising up to $1.5b in FY17
• Hester Biosciences to raise funds through shrs issue by QIP

MEDIA REPORTS: Billionaire Singh to make DLF debt free, infuse 100b rupees: ET Adani sets up financial-services company, seeks acquisition: ET ECONOMY:

• 06/28-06/30: Eight infrastructure industries index for May (Prior +8.5%)

CENTRAL BANK:

• Govt to sell 90b rupee 91-day, 60b rupee 182-day T-bills

GOVERNMENT:

• 1pm: Agriculture Minister Radha Mohan Singh at the 10th National Statistics Day celebration in New Delhi

BOND SALES:

• LIC Housing plans to sell INR2b 10-yrs bonds at 8.48%

CONFERENCES/CORPORATE EVENTS:

• 10:30am: PHD Chamber to unveil report by PHDCCI & Mazars Research on 'Digitization in SME Sector' in New Delhi
• 11:30am: Godrej & Boyce Mfg Co.; The Sure Chill Co. to brief on global immunization efforts, medical refrigeration in Mumbai
• AGMs:

• Allahabad Bank, Bank of Maharashtra, Can Fin Homes, Corporation Bank, Everest Industries, Indian Bank, Tata Metaliks, UCO Bank, UPL, Vedanta

OFFERINGS:

• Quess Corp IPO opens for sale, closes July 1; co. raised INR1.8b, selling 5.7m shrs to anchor investors at INR317/shr yday

ANALYST RATINGS/RESEARCH:

• Talwalkars Better Value rated new buy at Anand Rathi Securities

MARKETS:

• S&P 500 +1.8% to 2,036.09
• Stoxx Europe 600 +2.6% to 316.70
• MSCI Asia Pacific Index +1.4% to 127.22
• Global Commodity Prices Overview

• Gold spot +0.6% to $1,319.75/oz
• Brent futures +0.8% to $48.95/bbl

• SGX CNX Nifty Index futures for June delivery +0.3%

• Sensex +0.5% to 26,524.55
• Nifty +0.4% to 8,127.85

• Yield on 7.59% bonds maturing Jan. 2026 at 7.45% on June 28
• INR little changed at 67.9525/USD

EQUITY PREVIEW:

• Axis Bank (AXIS): Aims to expand urban micro-finance ops to 85 branches
• Bosch Ltd. (BOS): To consider share buyback proposal on July 1
• Eros International Media (EROS): Parent reports 4q revenue of $65.1m, est. $54.3m
• Great Eastern Shipping (GESCO): Says bought back INR650m of debentures
• IL&FS Transportation (ILFT): Co. acquired 1.02% additional stake in Noida toll (NTB) from founder; Co.'s stake raised to 26.37%
• JSW Energy (JSW): Co. to seek shareholders' nod to raise up to INR50b in bonds, up to INR75b in shrs, overseas
• Kesar Terminals (KTIL): To consider stock split on July 1
• NTPC (NTPC): Says discussed capex funding opportunities with some banks
• Sical Logistics (SICL): Says raised INR1b via 11% debentures from IDFC Bank for bond redemption
• Sobha (SOBHA): To introduce luxury apartment project in Delhi-NCR
• Surya Roshni (SYR): Says no plan to sell lighting business, demerger
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