1) India Still Silent on Rajan's Future as Speculation Intensifies
(Bloomberg) -- India's government stayed mum on the fate of central bank Governor Raghuram Rajan as speculation over his future mounts. The rupee reversed gains and bonds declined on Wednesday after a local-language newspaper reported that Rajan doesn't want an extension of his term even though Prime Minister Narendra Modi wants him to stay on. The Reserve Bank of India, the Prime Minister's Office and the Finance Ministry all had no comment on the ...
2) Oil's Emerging Giant Beckons U.S. Wildcatters Who Riled OPEC
(Bloomberg) -- The casualties of the U.S. shale bust are being offered a new frontier thousands of miles away in India to remake their fortunes. Prime Minister Narendra Modi is striving to woo investors to develop already discovered but untapped smaller oil and gas fields that hold more than India's total annual output. The South Asian nation depends on energy imports, a risk Modi is seeking to tackle as the fastest expansion among major economies ...
3) Digital Darjeeling: Web Auctions Start for India's Priciest Tea
(Bloomberg) -- For more than a century, buyers and sellers shouted out orders for Darjeeling tea at auctions in India before they were shipped to high-end purveyors in Europe, Japan and the U.S. Now, the prized black tea is poised to enter the digital age, with Darjeeling trade moving online from June. India harvested 1.19 billion kilograms of leaves in 2015—and less than 1 percent of that was Darjeeling, which is only grown in selected areas, similar to the rules ...
4) Indian Stocks to Watch: Coal India, Punj, Tata, Tree House
(Bloomberg) -- India's SGX CNX Nifty Index futures for June delivery fall 0.2% to 8,190.50. MSCI A-P index -0.5%. Foreign investors bought net 197m rupees of stks on May 31, according to Central Depository Services website. Nifty added 0.2% yday to 8,179.95. * Axis Bank (AXSB): To invest 165m rupees in A.Treds Ltd. * Century Plyboard (CPBI): Step-down unit formed in Vietnam * Coal India (COAL): May sales 45.53m tons vs target 50.9m * Shares raised to neutral vs ...
5) India Drought Seen Ending With Strongest Monsoon in Years: Chart
(Bloomberg) -- A two-year drought that has parched fields across India may come to an end when the monsoon starts this month. Forecasters at Skymet are expecting the strongest seasonal rainfall in 22 years, or 109 percent of the 50-year average. The monsoon waters about half of India's crops, and agriculture accounts for about 18 percent of the economy. To contact the reporter on this story: Pratik Parija in New Delhi at pparija@bloomberg.net To contact the editors responsible ...
6) Dry Weather Set to Turn India Into Sugar Importer, ED&F Man Says
(Bloomberg) -- Dry weather that hurt cane crops in India will turn the world's second-largest sugar producer into a net- importer as production falls next season, according to ED&F Man Holdings Ltd. India will probably import about 3 million metric tons of sugar more than it will export in the 2016-17 season that starts in October, said Kona Haque, head of research at the London- based trader. Two years of dry weather will limit yields and reduce output by more than 6 ...
7) INDIA DAYBOOK: Jaitley in Osaka, Coal India, Refiners, Sugar
(Bloomberg) -- Today: Finance Minister Arun Jaitley will address a 'Make In India' seminar in Osaka. Junior Finance Minister Jayant Sinha at awards event in New Delhi. WHAT TO WATCH: * Sebi issues paper on amendment to infra investment trust rules * Telecom regulator to unveil network quality portal * India should be able to grow 8% this fiscal yr: Das * Global funds see more pain for India banks after S&P downgrade * Dry ...
8) Global Funds See More Pain for Indian Banks After S&P Downgrade
(Bloomberg) -- Fund managers warn that the pain may not be over for Indian banks after S&P Global Ratings downgraded three lenders and Fitch Ratings said that the credit quality of public-sector lenders is under pressure. Syndicate Bank and Bank of India had their debt scores cut to below investment level while Indian Overseas Bank was pushed deeper into junk territory on Monday by S&P, which cited the weakening asset quality of the three public-sector lenders. It also revised ...
9) Amazon Invests Additional $200 Million in India Unit, ET Says
(Bloomberg) -- Link
10) Airbags, ABS Mandatory in Indian Cars From Oct. 2018, ET Reports
(Bloomberg) -- Link
11) Henkel May Probably Invest in Jyothy Laboratories, Standard Says
(Bloomberg) -- Link
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