Joindre Capital Services Ltd. Sebi Regn No
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JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INB 230766739 / INB 011107555 DAILY REPORT 4th April 2018 ICICI Securities and Mishra Dhatu Nigam shares start trading after IPO; RBI to hold T-bills, reverse repo auctions; Two- day meeting of monetary policy committee headed by RBI Governor Urjit Patel to start. WHAT TO WATCH: * Central Bank Is Set to Keep Bond Market Party Going * Aberdeen Favors Brazil, India as Emerging Assets Buck U.S. Rout * Billionaires Plan $6b Warchest for Telecom Slugfest * Market regulator Sebi Eases Algo Order Limit for Commodity Derivatives * Asia Ex-Japan 2Q CPI Forecast Steady; India Seen at 5.3% * ArcelorMittal Committed to Winning Bid for Essar Steel ** Billionaire Heads to Court in Battle Over India’s Steel Market * India Projects 275 Gigawatts Renewables Capacity by 2027 * South Korea, India Cut Trade Surpluses With U.S. as Trump Rails * Mexico Puts Anti-Dumping Duties on Steel Pipes From Some Nations * Hybrid Annuity Model Boosting Road Builder’s Margins: Ashika * BofAML’s Remedy for Bleeding India Power Cos: Save $16b in Costs * India Cricket Board Says 3 Bids Eligible for Media Rights * India Is Said to Sell INR110.45b of Govt Debt Quota to FIIs * Rupee Forwards Fall as Risk Appetite Rebounds: Asian NDFs * Foreign Funds Flow: ** Global Funds Buy Net INR11.4b of India Equity Derivatives Tuesday ** Global Funds Sell Net INR3.77b of India Stocks on Wednesday: NSE ** Foreign Investors Sell Net INR2.58b of Indian Shares on March 28 & April 2 ** Global Funds Add Thailand, Korean Bonds, Cut Indian Debt * India Spends Record $18b to Develop Roads as Polls Loom * India Soybean, Rapeseed Output Seen Falling, USDA FAS Says * Stocks in Asia Trade Mixed; Treasuries Steady MEDIA REPORT: * NuPower Renewables Is Said to Explore Wind Power Sale: Mint GOVERNMENT: * 12pm: New Delhi. Ajay Kumar, secretary- defense will hold a curtain raiser press conference on DefExpo India – 2018 * 3pm: New Delhi. Hardeep Puri, MoS for Housing at foundation Stone Laying Ceremony for Redevelopment of Govt. of India Press CENTRAL BANK: * RBI to conduct total 1t rupees of 7-, 14-day variable rate reverse repo auctions * Govt to sell 70b rupees 91-days, 40b rupees 182-days and 40b rupees 364-days T-bills CONFERENCES/CORPORATE EVENTS: * 9:15am: Mumbai. ICICI Securities’ shares listing ceremony after IPO * 9:15am: Mumbai. Mishra Dhatu Nigam’s shares listing ceremony after IPO * 10:30am: New Delhi. CPR discussion on ‘Unpacking India-China Relations’ JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INB 230766739 / INB 011107555 OFFERINGS: * ICICI Securities to start trading on BSE/NSE after selling shares at 520 rupees each in IPO * Mishra Dhatu Nigam to start trading on BSE/NSE after selling shares at 90 rupees each in IPO that receive 121% demand ANALYST ACTIONS: * Aster DM Healthcare (ASTERDM IN): Rated New Buy at Goldman; PT 213 Rupees * ACC (ACC IN): Raised to Overweight at Morgan Stanley; PT 1,887 Rupees * Britannia (BRIT IN): Rated New Underperform at Macquarie; PT 4,210 Rupees * Cadila Health (CDH IN): Upgraded to Buy at HSBC; PT 445 Rupees * IndiGo (INDIGO IN): Reinstated at William O’Neil & Co Incorporated With Buy * JK Lakshmi (JKLC IN): Cut to Underweight at Morgan Stanley; PT 500 Rupees * Oil India (OINL IN): Upgraded to Hold at CIMB; PT 218 Rupees * Jefferies Cuts ICICI Bank Target on Allegations of Malpractice MARKETS: * S&P 500 +1.3% to 2,614.45 * Stoxx Europe 600 -0.5% to 369.07 * MSCI Asia Pacific Index little changed at 172.01 * Global Commodity Prices Overview ** Gold spot little changed at $1,332.38/oz ** Brent futures -0.3% to $67.90/bbl * SGX CNX Nifty Index futures for April delivery little changed at 10,272.50 ** Sensex +0.4% to 33,370.63 ** Nifty +0.3% to 10,245.00 * Yield on 7.17% bonds maturing Jan 2028 at 7.33% on April 3 * INR +0.3% to 65.0112/USD * Indian Bonds Rally After RBI Allows Banks to Spread Debt Losses EQUITY PREVIEW: * Akzo Nobel India (AKZO): To consider share buyback on April 6 * Coal India (COAL): Seeks to own railway rakes it requires, Goyal says * Ferro Alloys (FAC): Says lenders panel took decision to liquidate company after rejecting debt resolution plans * GIC of India (GICRE): Wins bid for ONGC’s reinsurance for 2018-20; to cover ONGC’s upstream offshore assets valued at up to $40b * Housing Development (HDFC): To Provide 800m Rupees of Additional Buffer for Future Risks * Indraprastha Gas (IGL): Sees 42% Rise in Piped Gas Customers Last FY * Tata Communications (TCOM): To deploy 5,000 smart gas meters in Mumbai for Mahanagar Gas (MAHGL) * Toyo Rolls (TR): To issue INR20m of preferential shares to founder Tata Steel (TATA) * Zensar Technologies (ZENT): Wins about $79m multi-year .