Morning Updates - Jan 6 2012

ECONOMY:

* Finance Minister Pranab Mukherjee is scheduled to speak at a function organized by

Institute of Chartered Accountants ofIndia in Chennai. He is also speaking at the Indian

OverseasBank’s Platinum Jubilee function.





BOND SALES:

* 2:30 p.m. India to sell 40 billion rupees of 7.83% 2018 bonds.

* 3 p.m. India to sell 70 billion rupees of 8.79% 2021 bonds.

* 3 p.m. India to sell 30 billion rupees of 8.28% 2032 bonds.



EQUITY MOVERS:

* Pfizer Ltd. , said its directors have approved plans to spin off its animal health business

in India to a separate unit.

State Bank of India is likely to get a capital infusion of up to Rs 6,000 crore in the current fiscal from the government that will help the lender increase its operations



OTHER NEWS:

* National Highways Authority of India and Power FinanceCorp. received 335 billion rupees

($6 billion) of bids from private investors for the 140 billion rupees being sold to finance

government improvements, underwriters said. The notes yield as much as 8.3 percent,

compared with the 7.55 percent that Indian Railways Finance Corp. offered in October, when it

sold the nation’s first public issue of tax-free debt.

* India to decide on 170 billion rupees of recapitalization this week, India plans to infuse 3.5

trillion rupees to meet Basel III norms.

* India’s finance ministry held talks with State Bank of India, Canara Bank and IDBI Bank Ltd.

on a proposal to pledge assets of the Specified Undertaking of the Unit Trust of India, a finance

ministry official told reporters in New Delhi. The cabinet may consider the proposal next week.

* The Reserve Bank of India eased norms on external commercial borrowings. The RBI waived

requirement of average maturity period, prepayment, call and put options on additional $250

external commercial borrowing allowed to companies.

* Export-Import Bank of India, the state-owned trade financier, plans to raise 7 billion rupees

selling seven-year bonds. The notes will price to yield 9 percent, payable half-yearly.

* Ratan Tata, the chairman of Tata Motors Ltd. who conceived the Nano as the world’s

cheapest car, said the automaker is working on the vehicle’s upgrades to undo the “stigma”

attached to the hatchback that pushed down sales.

* Yamaha Motor Co. is joining other Japanese competitors to add motorcycle capacity in

Asia’s second-fastest growing major economy betting demand from Indians seeking personal

transportation will sustain.



FIIs:

Overseas investors bought a net 2.57billion rupees ($48.4 million) of Indian equities yesterday,

becomes net buyer of 4.57 billion rupees this year.

Foreigners bought 18.4 billion rupees of shares and sold 15.8 billion rupees.



CONFERENCES/EVENTS:

* 11 a.m. New Delhi. Pawan Munjal, MD & CEO of Hero MotoCorpLtd. will address a press

conference to show “A CONCEPT TWO-WHEELER” at Auto Expo 2012.

* 11 a.m. New Delhi. P.K. Chaudhery, secretary of India’s ministry of commerce and industry

will be chief guest at Cement Manufacturers’ Association’s 50th Annual Session.

* 11 a.m. New Delhi. Ayush Lohia, CEO of Lohia Auto Industries,will hold a press conference to

brief details about its new launch at Auto Expo 2012.

* 11:30 a.m. New Delhi. FICCI, CII and ASSOCHAM to organize a meeting with Kamla Persad Bissessar,

Prime Minister of Trinidad and Tobago.

* 12:15 p.m. New Delhi. Virbhadra Singh, minister for micro, small and medium enterprises will be

the chief guest at the“7th North-East Business Summit”.

* 12:30 p.m. New Delhi. Anand Mahindra, vice chairman & MD of Mahindra & Mahindra Ltd.,

holds a press conference at the AutoExpo 2012 for a strategic announcement.

* 1:30 p.m. New Delhi. Abhay Firodia, chairman of Force MotorsLtd., holds a press conference to

announce the unveiling of thenew Traveller 26 at Auto Expo 2012.

* 1:45 p.m. New Delhi. Tata Motors Ltd. organizes interaction with its management team includes

P.M. Telang, ManagingDirector, India Operations, Ravi Pisharody, President,Commercial Vehicles

and R. Ramakrishnan, Vice President, Passenger Vehicle.

* 2 p.m. New Delhi. Anirudh Bhuwalka, Managing Director and Chief Executive Officer of Asia

Motor Works Ltd., holds a press conference for a major corporate announcement. Venue: Pragati

Maidan.

* 3 p.m. New Delhi. Ducati India holds a press conference to launch Monster 795 at the Auto Expo 2012.

* 3:15 p.m. Chennai. Pranab Mukherjee, finance minister of India, will be chief guest at the platinum

jubilee celebration of the Indian Overseas Bank. D.K. Mittal, secretary, Dept. of financial services at

finance ministry and M. Narendra, CMD of IOB will be present.

* 4 p.m. New Delhi. Nishith Desai Associates to organize a session on ‘corporate governance’ at the

inauguration of the NewDelhi office. Veerappa Moily, India’s minister for corporate Affairs, will be the

chief guest. Speakers include A.K. Ganguly, judge of Supreme court of India; Sam Pitroda, adviser to prime

minister and K.P. Krishnan, secretary of prime minister’s economic advisory council.

* 5 p.m. New Delhi. Virbhadra Singh, minister for micro, small and medium enterprises will inaugurate the

Ekmatra store of Sarvoday Ashram.