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RELINFRA - Reliance Infrastructure News Story

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Sector
Industrials
Size
Small Cap
Market Cap £123.8m
Enterprise Value £695.2m
Revenue £1.58bn
Position in Universe 780th / 3108

Indian FX/debt factors to watch - Feb 10

Mon 10th February, 2014 2:41am
GLOBAL MARKETS ROUNDUP 
    * Asian markets made guarded gains on Monday, encouraged 
that Wall Street was able to weather a seemingly disappointing 
U.S. jobs report, though there is more than enough event risk 
ahead to keep investors cautious.  MKTS/GLOB  
    * The yen wallowed at one-week lows against the dollar and 
euro early on Monday, having been beaten down late last week as 
U.S. stocks rallied after investors got over a disappointing set 
of headlines on the U.S. labor market.  FRX/  
    * Oil rose by more than $2 to one-month highs on Friday, 
fueled by a sharp rally in gasoline and heating oil as supplies 
tightened and refiners started to shut down plants for 
maintenance.  O/R  
    * U.S. Treasuries yields fell on Friday after employers 
hired far fewer workers than expected in January, suggesting a 
loss of momentum in the economy at the same time as the Federal 
Reserve pares its bond purchase program.  US/  
                     
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index  .BSESN  20,376.56 (up 0.32 pct) 
    * NSE index  .NSEI  6,063.20 (up 0.45 pct) 
    * Rupee  INR=D2  62.2825/2925 per dlr (62.3650/3750) 
    * 10-year bond yield  IN088323G=CC  8.74 pct (8.72 pct)   
    * 5-year OIS rate  INRSMONM5YFIX=  8.40 pct (8.39 pct)  
    * 1-year OIS rate  INRANONM1YFIX=  8.65 pct (8.64 pct)  
    * Call money  INROND=  8.75/8.80 pct (7.50/7.60 pct) 
     
    KEY FACTORS/EVENTS TO WATCH 
    * The Reserve Bank of India will auction 130 billion rupees 
of treasury bills, including 70 billion rupees of 91-day bills 
and 60 billion rupees of 182-day bills, on Feb. 12. 
 ID:nL3N0LC3SY  
    * The RBI said on Friday 12 states will sell at least 115.45 
billion rupees ($1.85 billion) via 10-year loans on Feb. 11. 
 ID:nI8N0JD02R  
 
    OVERNIGHT NEWS 
    * India cbank says banks may use up to 33 percent of 
countercyclical provisioning buffer held as on March 31, 2013 
for making specific provisions for bad loans.  ID:nL3N0LC4GT  
    * Countries such as Hungary, lacking the protection of high 
interest rates, may take the hit from the next selloff wave in 
emerging markets now bold rate hikes have made the likes of 
Turkey too costly to bet against.  ID:nL5N0LC17G  
    * Business activity across emerging markets expanded in 
January at the slowest pace in four months, dragged down by 
sluggish services sectors in the BRIC quartet of big developing 
countries, a survey showed on Monday.  ID:nL5N0LD0KD  
    * India on Friday cut its estimate of annual growth for the 
fiscal year to 4.9 percent from 5 percent because of a 
contraction in the manufacturing and mining sectors. 
 ID:nL3N0LC3M6  
     
    LOANS/DEALS 
    * Small Industrial Development Bank of India (Sidbi) priced 
an offering of 7.5 billion rupees in three-year bonds last 
evening to yield 9.55 percent. The bonds have a put/call option 
at the end of one year and one day. The final pricing was higher 
than the 9.42-9.45 percent indicative range Sidbi had targeted. 
 IFR  
    * About 10 to 12 banks are processing the $250 million 
two-year facility for Singapore-based Drilling & Offshore, a 
group company of India-based ABG Group and a sister company of 
ABG Shipyard.  IFR  
 
    USD/INR NDFs (NY closing prices) ASIA FX OUTLOOK 
    For up-to-date prices, double click  PNDF   
     Close      Open     High      Low     Volume         
    62.43-45    62.73    62.80     62.41     High 
              
    FII INVESTMENTS-EQUITIES (Net dollars)                       
                         
    Feb. 7*                   -$42.82 mln  
    Month-to-date**            -$266.34 mln 
    Year-to-date**          -$141.70 mln 
    * Provisional NSE data          
    ** Source: Data as per the latest custodial filing as on 
Feb. 7 on SEBI website. 
    #(As per Reuters conversion, $1 = 62.3600 Indian rupees) 
              
    FII INVESTMENTS-DEBT (Net Dollars)  INFIX   INFII01 *    
                                    Debt              
    Feb. 6                       $173.03 mln 
    Month-to-date                -$291.84 mln 
    Year-to-date                    $1.77 bln 
    * Source: Data as per latest custodial filing as on Feb. 7 
on SEBI website. 
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) 
                                Feb. 7 
    Foreign Banks                         -9.56 bln 
    Public Sector Banks                 12.92 bln 
    Private Sector Banks                -409.9 mln 
    Mutual Funds                         2.79 bln 
    Others                               4.24 bln 
    Primary Dealers                     -9.98 bln 
    Source: Clearing Corp of India Ltd 
     
    MONEY MARKET INFLOWS 
=============================================================== 
Instrument               Payment    Date            Amount  
                                                 (mln rupees)  
============================================================== 
SDL 08.51%, 2021         Interest   Feb 10            212.75 
(PUNJAB) 
SDL 08.52%, 2021         Interest   Feb 10            213.00 
(JHARKHAND) 
SDL 08.53%, 2021         Interest   Feb 10            426.50 
(GUJARAT) 
SDL 08.55%, 2021         Interest   Feb 10            427.50 
(WEST BENGAL) 
SDL 08.56%, 2021         Interest   Feb 10           1498.00 
(2 States) 
SDL 08.58%, 2021         Interest   Feb 10            429.00 
(UTTAR PRADESH) 
9.77% FRB 2015           Interest   Feb 10           2931.00 
10.03% 2019              Interest   Feb 10           3009.00 
7.50% 2034               Interest   Feb 10          22500.00 
=============================================================== 
 For the full table for February inflows, see:  ID:nL3N0L80FQ  
=============================================================== 
 
    LIQUIDITY 
    * The Reserve Bank of India said on Friday it accepted all 
35 bids for 274.42 billion rupees ($4.39 billion) at its evening 
three-day repo auction, through which it injects liquidity into 
the banking system.  ID:nI8N0KW000  
    * Indian banks' refinancing with RBI rises to 428.54 billion 
rupees.  ID:nI8N0JD02G  
    * Indian banks' cash balances with RBI at 3.2 trillion 
rupees.  ID:nI8N0JD02H   
 
 (Compiled by Neha Dasgupta) 
 ((abhishek.vishnoi@thomsonreuters.com)(+91 22 61807225; Reuters 
Messaging: abhishek.vishnoi.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS INDIA/FXDEBT
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