{LONGTERMINVESTORS} INDIA DAYBOOK: Mahanagar Gas, Manufacturing PMI, Term Repo, FX

 

Today: Mahanagar Gas shares to debut; Nikkei India Manufacturing PMI; RBI to hold term repo auction; Road Transport Minister Nitin Gadkari, Civil Aviation Minister Ashok Gajapathi Raju to speak. WHAT TO WATCH:

• India May key industries' output rises 2.8% Y/y
• India May consumer prices for industrial workers rose 6.59%
• India April-May budget deficit at INR2.29t or 43% of FY target
• Indian Oil Corp. cuts gasoline price by INR0.89/liter, diesel

by INR0.49/liter

• More Brexit uncertainty would affect emerging nations: Kim
• RBI says Euro trade transactions to be settled outside ACU
• Cyprus to be removed from notified jurisdiction for Indian tax
• India notifies rules on computation of assets' fair market value
• India to induct indigenous Tejas Combat plane
• Bosch to consider share-buyback proposal
• Kesar Terminals to consider stock split
• State Bank of India to announce strategic initiative
• Global funds +INR11.1b of local stocks; domestic funds - INR1.91b yday: Provisional data
• India monsoon rain 1% above normal in week ended June 29: IMD

• North India to see above normal rain in 1st week of July: IMD

MEDIA REPORTS:

• Rajan said to see three-yr term as short for RBI governor: PTI
• Jaiprakash said to get counter bid for cement assets: CNBC- TV18
• Jet Airways said in talks with banks for $180m loan: Reuters
• Essar said to mull sale of 405k B/D Gujarat refinery: Reuters
• Ruia family to give up control of Essar Oil, Standard says
• ICICI Bank starts debt recast for Jaiprakash Associates: ET
• JPMorgan Chase to open three new branches in India: E. Times

ECONOMY:

• 10:30am: Nikkei India Manufacturing PMI for May; no ests. (Prior 50.7)

CENTRAL BANK:

• RBI to conduct INR185b 14-day term repo auction today
• India to auction INR1.85t of treasury bills in July-Sept.
• RBI sets rate of interest on floating rate bonds 2017 at 7.25%
• RBI to release of weekly FX, bank credit data
• India states expected to borrow INR700b-750b in July-Sept.: RBI

GOVERNMENT:

• 9:30am: Road Transport Minister Nitin Gadkari at workshop on green highways project hosted by Yes Bank in New Delhi
• 10:30am: Chief Minister of Uttarakhand Harish Rawat will call on Social Justice Minister Thaawar Chand Gehlot in New Delhi
• 12:30pm: Civil Aviation Minister Ashok Gajapathi Raju to address media on regional connectivity in New Delhi
• 2:15pm: Defence Minister Manohar Parrikar at inaugural of Chartered Accountants' Day celebration in New Delhi
• 3pm: Rajiv Pratap Rudy, MoS for skill development, at prize distribution function in New Delhi

BOND SALES:

• L&T Infra Finance seeks to raise INR1.5b via debenture
• Shriram Transport plans to sell INR1b 2-part bond

CONFERENCES/CORPORATE EVENTS:

• 9:15am: Mahanagar Gas shr listing ceremony in Mumbai
• 10am: Comptroller and Auditor General of India Shashi Kant Sharma; RBI's N.S. Vishwanathan at ASSOCHAM conference on Financial & Corporate Frauds in New Delhi
• AGMs:

• IndusInd Bank

OFFERINGS:

• Mahanagar Gas shr listing on NSE/BSE after IPO got 64.5 times demand in OFS by founders at INR421/shr
• Quess Corp IPO gets demand for 3.4 times shrs offered, offer to close today
• India said to appoint banks for up to $177m Cochin Shipyard IPO

MARKETS:

• S&P 500 +1.4% to 2,098.86
• Stoxx Europe 600 +1% to 329.88
• MSCI Asia Pacific Index +0.4% to 129.41
• Global Commodity Prices Overview

• Gold spot +0.5% to $1,328.54/oz
• Brent futures +0.6% to $50.02/bbl

• SGX CNX Nifty Index futures for July delivery -0.1%

• Sensex +1% to 26,999.72
• Nifty +1% to 8,287.75

• Yield on 7.59% bonds maturing Jan. 2026 at 7.45% on June 30
• INR +0.2% to 67.5250/USD

EQUITY PREVIEW:

• Gujarat NRE (GNC): Allots 24.5m shrs to IDBI Bank at INR11.03/shr
• KPIT Technologies (KPIT): Expects about 4% drop in 1Q revenue, profitability
• NTPC (NTPC): Says 1Q power generation up 10% y/y to 64.6b units: statement
• RPG Life Sciences (RPGL): Co. says Sachin Raole resigned as Chief Financial Officer
• Strides Shasun (STR): Says US FDA completed inspection of oral dosage facility

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