Joindre Capital Services Ltd. Sebi Regn No
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JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INZ000174034 DAILY REPORT 16th October, 2019 RBI to hold t-bills, reverse repo auctions; MindTree, Federal Bank, DB Corp. among companies reporting 2Q earnings; Road Transport Minister Nitin Gadkari, Health Minister Harsh Vardhan to speak. WHAT TO WATCH: Trade Woes Push IMF Global Growth Outlook to Decade-Low of 3% o IMF World Economic Outlook Update: Projections Summary o IMF Cuts India GDP Growth Forecast To 6.1% For The Current Year: BQ India Trade Gap Narrows to Seven-Month Low as Demand Ebbs o India Sept. Trade Balance -$10.86b; Est. $12.9b deficit o Exports -6.6% y/y to $26.0b, imports -13.9% to $36.9b o India Aug. Services Exports $18.2b, Imports at $12b: RBI Bond Bull Says Indian Traders Too Skeptical Over Deficit Targets BE Model Signals Further Drop for India Government Bond Yields $10 Trillion India GDP by 2030? Not Quite, But Almost Tata Chairman Awaiting Brexit Deal Says Tariffs Are „New Normal‟ Blackstone, KKR Said to Join Race for India‟s Emami Cement India Inc. is Awakening to Workplace Diversity: Equality Summit India Allowing Banks to Lend to InvITs Positive for Infra: ICRA India Govt Reviews Prices, Supply of Essential Commodities Palm Oil: Prices Bounce Back on India-Malaysia Trade Optimism India Palm Importers Shifting to Indonesia From Malaysia: SEA Global Funds Buy Net INR4.36B of India Stocks Tuesday: NSE Foreign Investors Buy Net INR61.5b of Indian Equities Oct. 14 Foreigners Buy Net INR12.4b of India Equity Derivatives Tuesday Emerging-Market ETFs See Small Inflow After Two-Week Outflow MEDIA REPORTS: India Urges OPEC Not to Cut Oil Production in December: PTI Maha BJP promises 10m jobs in 5 yrs, houses for all by 2022: PTI Non- Life Insurers Register 28% Rise In September Premium: PTI Nexus, Prestige group in talks to merge mall businesses: ET EARNINGS: (net income adj. ests. in INR where available) DB Corp (DBCL) 2Q 626m (3 analysts) Federal Bank (FB) 2Q 4.33b (15) Hathway Cable (HATH) 2Q Mindtree (MTCL) 2Q 1.47b (15) BOND SALES/PURCHASES (All times India Time): Govt to sell INR90b 91-days, INR40b of 182-days & INR30b of 364- days T-bills RBI to conduct INR2.2 trillion overnight reverse repo auctions JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INZ000174034 GOVERNMENT: 10am: New Delhi. Road Transport Minister Nitin Gadkari, Skill Development Minister Mahendra Nath Pandey and Power Minister R.K. Singh at Ministry of Skill Development‟s Culmination Ceremony of Apprenticeship Pakhwada-2019 10:30am: New Delhi. Chief Economic Adviser Krishnamurthy Subramanian at FICCI‟s „Massmerize 2019 - Retail, FMCG & E-Commerce Conference‟ 11am: New Delhi. Textile Secretary Ravi Capoor to inaugurate the Handicraft Fair “IHGF-Delhi Fair” – 2019 11am: New Delhi. Health Minister Harsh Vardhan at the World Food Day 2019 celebrations hosted by FSSAI and will launch various innovative initiatives CORPORATE BONDS: JMC Projects to Consider Private Placement of INR1b NCDs ANALYSTS ACTION: ACC Raised to Buy at HSBC, PT 1,690 rupees; ACC Rated New Buy at Ashika Stock Broking, PT 1,819 rupees Ambuja Cements Raised to Buy at HSBC, PT 230 rupees; Rated New Neutral at Ashika Stock Broking Coal India Raised to Hold at Systematix Shares & Stocks Dalmia Bharat Rated New Buy at Ashika Stock Broking JK Cement Rated New Buy at Ashika Stock Broking JK Lakshmi Rated New Buy at Ashika Stock Broking; PT 354 rupees Lupin Raised to Hold at HSBC; PT 700 rupees Maruti Suzuki Cut to Hold at BNP Paribas; PT 6,450 rupees Ramco Cements Cut to Neutral at Ashika Stock Broking Shree Cement Rated New Neutral at Ashika Stock Broking Wipro Raised to Neutral at Credit Suisse; PT 250 rupees MARKETS: S&P 500 up 1% at 2,995.68 STOXX Europe 600 up 1.1% at 394.02 MSCI Asia Pacific Index up 0.56% at 158.72 Gold spot up 0.1% at $1,482.60/Oz Brent Futures up 0.24% at $58.88/bbl Sensex up 0.76% at 38,506.09 Nifty Index up 0.77% at 11,428.30 SGX Nifty futures up 0.36% at 11,476.00 INR down 0.44% at 71.5425 Yield on 7.26% bonds maturing Jan 2029 at 6.67% on Oct. 15 Rupee Bonds Gain Amid Surge in Foreign Inflows: Inside India JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INZ000174034 CORPORATE EVENTS: 11:45am: Kolkata. Gautam Chatterjee, MD & CEO of Exide Industries, to make a major business announcement 1:45pm: Mumbai. Federal Bank press conference to announce 2Q FY20 results and discuss business plan 3pm: Mumbai. NRAI and FHRAI to hold a joint press conference on serious issues concerning Food Service 5:15pm: Mindtree to hold 2Q FY20 earning briefing call EQUITY PREVIEW: ACC (ACC): 3Q net income 3b rupees, beats est. 2.74b Bajaj Consumer (BAJAJCON): Founders Sell 22% Stake in Co. to Repay Debt Karnataka Bank (KBL): 2Q profit 1.06b rupees, provisions INR2.62b; GNP 4.78% Multi Commodity Exchange (MCX): 2Q net income 717.5m rupees vs 359.3m y/y NBCC India (NBCC): Wins total business of INR8.52b in Sept. SBI Life Insurance (SBILIFE): 2Q profit 1.3b rupees vs 2.51b year ago Wipro (WPRO): 2Q net income 25.5b rupees, beats Est. 22.8b; Sees 3Q revenue $2.07b-$2.11b .