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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 11

Tue 11th February, 2014 2:55am
GLOBAL MARKETS ROUNDUP 
    * Asian markets settled in for a session of consolidation on 
Tuesday as investors waited to hear the new head of the U.S. 
Federal Reserve's outlook for the economy and policy, with most 
expecting a reaffirmation of the status quo.  MKTS/GLOB  
    * The dollar wallowed near a two-week low against a basket 
of major currencies early on Tuesday, following a subdued U.S. 
session trade as markets hunkered down ahead of congressional 
testimony by new Federal Reserve Chief Janet Yellen.  FRX/  
    * Brent oil fell by nearly $1 per barrel on Monday, 
pressured by sinking heating oil prices as the market looked 
toward the end of a long and frigid winter and as supplies 
increased from Libya and the North Sea.  O/R  
    * U.S. Treasury debt prices were little changed to slightly 
lower on Monday in thin trading, after a rally the previous 
session on a weaker-than-expected U.S. non-farm payrolls report, 
with investors bracing for this week's heavy supply on the long 
end.  US/  
                     
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index  .BSESN  20,334.27 (down 0.21 pct) 
    * NSE index  .NSEI  6,053.45 (down 0.16 pct) 
    * Rupee  INR=D2  62.43/44 per dlr (62.2825/2925) 
    * 10-year bond yield  IN088323G=CC  8.69 pct (8.74 pct)   
    * 5-year OIS rate  INRSMONM5YFIX=  8.38 pct (8.40 pct)  
    * 1-year OIS rate  INRANONM1YFIX=  8.65 pct (8.65 pct)  
    * Call money  INROND=  9.10/9.15 (8.75/8.80 pct) 
     
    KEY FACTORS/EVENTS TO WATCH 
    * U.S. Federal Reserve Chairwoman Yellen's speech later in 
the day. 
    * India-Trade data for April-January period on Feb. 11 at 
11.00 IST (0530 GMT) 
    * The Society of Indian Automobile Manufacturers will 
release sales data for January, with car sales expected to fall 
for the fourth straight month.  
    * Reserve Bank of India Governor Raghuram Rajan will attend 
a felicitation event organised by his management alumni 
    * 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 
    * The United States on Monday said it would take India to 
the World Trade Organization to gain a bigger foothold for U.S. 
manufacturers in its fast-growing solar products market, adding 
another irritant to an already strained relationship. 
 ID:nL3N0LF429  
    * Tata Motors Ltd  TAMO.NS , India's biggest automaker by 
revenue, saw third-quarter net profits triple to their highest 
in a year-and-a-half on strong demand for its luxury Jaguar Land 
Rover vehicles and a one-time accounting gain.  ID:nL3N0LF3J4  
    * India's Goa state expects to resume mining before monsoon 
that starts in June, its chief minister said on Monday, but this 
may not mean an immediate resumption in shipments from what used 
to be the country's top iron ore exporter.  ID:nL3N0LF2G7  
     
    LOANS/DEALS 
    * Twelve banks are expected to sign the C$900m (US$818m) 
one-year bridge loan for Indian Oil Corp  IOC.NS , sources said. 
IOC is also in the market with a US$500m three-year loan, which 
is expected to close this week.  IFR  
    * Mumbai-listed Tata Communications'  TATA.NS  US$240m 
five-year amortising loan was launched into general syndication 
on February 6. Responses are due on March 17. Roadshows will be 
held in Singapore on Thursday, Taipei on Friday and Dubai on 
February 17. Proceeds are for refinancing existing debt. 
    * Fitness club chain Talwalkars Better Value Fitness 
 TALW.NS  has launched a two-part financing into syndication. 
The Rs1.9bn (US$30.5m) deal is split between a Rs1.65bn 
seven-year amortising loan and a Rs250m six-year bullet bond 
    * Employees of Indian state-owned banks went on a two-day 
nationwide strike today. which impacted the Rs4.9bn-Rs5.1bn 
(US$79m-$82m) secondary follow-on offer in Engineers India 
 ENGI.NS . The offering will now close on Wednesday instead of 
the earlier deadline of today. 
 
    USD/INR NDFs (NY closing prices) ASIA FX OUTLOOK 
    For up-to-date prices, double click  PNDF   
     Close      Open     High      Low     Volume         
    62.65-68    62.69    62.78     62.65     High 
              
    FII INVESTMENTS-EQUITIES (Net dollars)                       
                         
    Feb. 10*                    -$72.96 mln 
    Month-to-date**            -$307.01 mln 
    Year-to-date**             -$182.40 mln 
    * Provisional NSE data          
    ** Source: Data as per the latest custodial filing as on 
Feb. 10 on SEBI website. 
    #(As per Reuters conversion, ($1 = 62.3600 Indian rupees)) 
              
    FII INVESTMENTS-DEBT (Net Dollars)  INFIX   INFII01 *    
                                    Debt              
    Feb. 7                        $323.89 mln 
    Month-to-date                  $32.05 mln 
    Year-to-date                    $2.09 bln 
    * Source: Data as per latest custodial filing as on Feb. 10 
on SEBI website. 
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) 
                                Feb. 10 
    Foreign Banks                         5.06 bln 
    Public Sector Banks                  -9.32 bln 
    Private Sector Banks                 -2.48 mln 
    Mutual Funds                         -1.17 bln 
    Others                                3.02 bln 
    Primary Dealers                       4.89 bln 
    Source: Clearing Corp of India Ltd 
     
    MONEY MARKET INFLOWS 
=============================================================== 
Instrument               Payment    Date            Amount  
                                                 (mln rupees)  
============================================================== 
10.47% 2015              Interest   Feb 12           3366.11 
91 days T-Bill           Redemption Feb 13          88060.00 
182 days T-Bill          Redemption Feb 14          50000.00 
SDL 09.60%, 2023         Interest   Feb 14            667.63 
(MAHARASHTRA) 
SDL 09.65%, 2023         Interest   Feb 14            482.50 
(KARNATAKA) 
SDL 09.71%, 2023         Interest   Feb 14            873.90 
(ANDHRA PRADESH) 
SDL 09.82%, 2023         Interest   Feb 14            245.50 
(RAJASTHAN) 
SDL 09.87%, 2023         Interest   Feb 14            246.75 
(PUNJAB) 
SDL 09.89%, 2023         Interest   Feb 14            247.25 
(HARYANA) 
8.20% 2022               Interest   Feb 15          23629.26 
8.24% 2027               Interest   Feb 15          29000.08 
8.28% 2032               Interest   Feb 15          37544.46 
5.32% 2014               Redemption Feb 15          51330.00 
=============================================================== 
 For the full table for February inflows, see:  ID:nL3N0L80FQ  
=============================================================== 
 
    LIQUIDITY 
    * The Reserve Bank of India said on Monday it accepted 56 
bids for 350.37 billion rupees ($5.63 billion) while it got 56 
bids for 350.38 billion rupees at its one-day repo auction, 
through which it injects liquidity into the banking 
system. ID:nI8N0IW02M  
    * Indian banks' refinancing with RBI rises to 489.29 billion 
rupees.  ID:nL3N0LF344  
    * Indian banks' cash balances with RBI fall to 3.09 trillion 
rupees.  ID:nL3N0LF33S  
 
 (Compiled by Abhishek Vishnoi) 
 ((abhishek.vishnoi@thomsonreuters.com)(+91 22 61807225)(Reuters 
Messaging: abhishek.vishnoi.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS INDIA/FXDEBT
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