What's Happening, and Where, on Apr 4

CORPORATE EVENTS
*AGM of FIRST LEASING CO OF INDIA.
*PRESS MEET of IDFC, on getting in-principle approval to start a bank. Executive Chairman Lall, MD & CEO Limaye, and Group CFO Kakar to speak. 1000 IST, Mumbai.

POLITICAL DIARY
BJP's Narendra Modi to address rallies in Maharashtra and Odisha. 1030 IST,Nagpur; 1235 IST, Naupada; 1410 IST, Balangir; 1600 IST, Rourkela.

DATA ALERT
from OVERSEAS
GERMANY MANUFACTURING ORDERS for Feb. 1130 IST.
UK HALIFAX HOUSE PRICE INDEX for Mar. 1230 IST.
UK CAR REGISTRATIONS FIGURES for Mar. 1330 IST.
EUROZONE RETAIL PMI for Mar. 1340 IST.
US EMPLOYMENT REPORT for Mar. 1800 IST.

CONFERENCES
EXPORT MEET: Commerce Secretary Kher to speak on 'India's Export Competitiveness, Prospects and Challenges: The Role of Trade Policy' at FICCI-CUTS event. 1800 IST, New Delhi.

RBI COUNTER
DAILY LAF TENDERS: One set of 3-day reverse repo (at 7.00%) and two sets of 3-day repo (at 8.00%). Bids for the first repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo and second repo between 1900 IST and 1930 IST.

TERM REPO TENDER: One set of 13-day variable rate term repo for 600 bln rupees and one set of 3-day variable rate term repo for 200 bln rupees. Bids for term repo tender may be submitted between 1100 and 1130 IST.

GILT AUCTIONS: RBI to auction 40 bln rupees of 8.35%, 2022 bond, 70 bln rupees of 8.28%, 2027 bond, 20 bln rupees of 9.20%, 2030 bond, and 30 bln rupees of 9.23%, 2043 bond. Cut-off yield seen:
9.25-9.30% for 8.35%, 2022 bond.
9.34-9.38% for 8.28%, 2027 bond.
9.25-9.28% for 9.20%, 2030 bond.
9.35-9.40% for 9.23%, 2043 bond.

MARKETS
Call: Seen opening around 8.7% on strong demand to meet weekend funding needs early in the session. 3-day call: 8.70% vs 7.00-7.05% 1-day Thursday.
Bonds: Seen opening steady. Value buying may support prices. Seen in thin band until auction result. 10-yr yld: 8.95-9.03% vs 9.01% Thursday.
Rupee: Seen down on weak euro, likely dollar buys by oil cos. US non-farm payrolls data, shares eyed.
Range: 60.00-60.60/$1 vs 60.16/$1 Thursday.
Stocks: To open marginally down; trade seen rangebound. Nifty range 6700-6800; Thursday-end 6736.10, down 16.45 points.

view more