{LONGTERMINVESTORS} INDIA DAYBOOK: Modi Cabinet Expansion, PMI, T-Bills, Debt Quota

 

Today: India to expand cabinet; Nikkei India services PMI; T-bills sale; Govt FII debt quota auction. WHAT TO WATCH:

• Mines ministry releases National Mineral Exploration policy
• India to announce cabinet expansion plan
• RBI will intervene to tackle volatility from FCNR outflows: Khan
• Dewan Housing Finance to consider raising funds via NCDs
• Global funds +INR1.82b of local stocks; domestic funds +INR3.77b yesterday: Provisional data
• Asian shares decline as post-Brexit optimism ebbs; yen advances

MEDIA REPORTS:

• Modi says cabinet expansion to reflect budget priorities: BS
• India top court reserves judgment on diesel car ban case: CNBC
• India cuts non-urea fert prices by up to INR5,000/ton: PTI
• Tata Sons to invest 30b rupees in Tata Teleservices: BS
• Anhui Conch, Others Make Bids for Lafarge India Assets: Mint

ECONOMY:

• 10:30am: Nikkei India services PMI for June (prior 51.0)
• 10:30am: Nikkei India composite PMI for June (prior 50.9)
• 3:30pm: BSE to auction INR81.14b of govt debt quota for FIIs

CENTRAL BANK:

• RBI to conduct INR185b 14-day term repo auction
• Govt to sell 90b rupees 91-day, 60b rupees 364-day T-bills
• India to sell INR150b four dated bonds on July 8

GOVERNMENT:

• 6pm: Junior Finance Minister at bank workers' conference in New Delhi

EARNINGS:

• GM Breweries (GMBR) 1Q

CONFERENCES/CORPORATE EVENTS:

• Noon. Bhavin Turakhia, co-founder & CEO of Zeta, to announce new product launch in Mumbai
• AGMs:

• Ajanta Pharma, Pfizer India

MARKETS:

• S&P 500 +0.2% to 2,102.95
• Stoxx Europe 600 -0.7% to 329.78
• MSCI Asia Pacific Index -0.6% to 129.95
• Global Commodity Prices Overview

• Gold spot -0.6% to $1,343.83 oz
• Brent futures -0.8% to $49.69/bbl

• SGX CNX Nifty Index futures for July delivery -0.3%

• Sensex +0.49% to 27,278.76
• Nifty +0.51% to 8,370.70

• Yield on 7.59% bonds maturing Jan. 2026 at 7.43% on July 3
• INR +0.1% to 67.2650/USD

ADRs (traded values):

• Dr Reddy's +3.4% ($23.9m), ICICIBank +0.7% ($34.5m), WNS Holdings -0.5% ($6.3m), HDFC Bank +0.4% ($48.1m), Infosys +0.3% ($40.7m), Wipro -0.2% ($2.2m), Tata Motors +0.2% ($42.8m)

EQUITY PREVIEW:

• Bhushan Steel (BHUS): To shut Dhenkanal mill for 20-days to expand capacity
• Housing Development Finance Corp. (HDFC): To consider INR350b of NCDs in private placement on July 27
• Grasim (GRASIM): Says Nagda plant operations resumed
• IFCI (IFCI): Says sold 225,000 shrs in NSE at INR3,950/shr
• Jaiprakash Associates (JPA): To amend cement business sale pact with UltraTech
• Southern Online Bio Tech (SOBT): Wins orders for supply bio diesel of INR799.9m/yr to ASRTC
• Usher Agro (UAL): Lenders decided to invoke strategic debt recast

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