India Week Ahead (Feb 12-18): Macroeconomic data to guide markets
Indian markets witnessed heavy volatility, ended in the red following negative global cues. Key indices – Sensex closed down 3.1%, Nifty down 2.9%, BSE Midcap lost 0.4% but BSE Smallcap gained 1.8% for the week. Pharma majors Cipla and Sun Pharma were the top gainers with 7.5% and 5.7% gains respectively while the major nifty losers were IOC down 7.2%, HDFC down 6.8% and Yes Bank down 6.7%.
It will be a truncated week as markets will be closed for trade on Tuesday on the account of Mahashivratri. A look at some events that will guide the markets:
A series of important macroeconomic data will be released throughout this week. CPI for the month of January and IIP for the month of December will be released on Monday at 05:30pm. CPI for the month of Dec stood at 5.21%, a 1.5 year high. CPI is expected to be at 5.17%.
IIP is expected to be at 6.3% vs 8.4% in November. January WPI is expected to be at 3.27% vs 3.58%.
WPI for the month of January will be released at 12pm on Wednesday. Trade data for January will be released by commerce and industry ministry on Monday at 4pm.
Q3 corporate earnings continue. Among major companies are Bank of India, Britannia, Corporation Bank, GAIL, Indian Hotels announcing their results on Monday.
Dilip Buildcon, GMR Infra, Jaypee Infratech, Mothersons Sumi will announce their results on Tuesday.
Abbott India, Dena Bank, Grasim, Idea, Jet Airways, Sun Pharma, Tata Power will announce their results on Wednesday.
Varun Beverages will announce their results on Friday.
Aster DM Healthcare IPO opens on Feb 12-18
IPO of Aster DM Healthcare, running hospitals in India and the Middle East will open on February 12-18. The company has fixed price band of Rs 180-190 per equity share. Company is looking to raise Rs 980 crore via IPO and will use the proceeds towards repayment of debt, purchase of medical equipment and for other general corporate purposes.
Jaypee Infra case in SC
The Supreme Court will hear Jaypee Infra insolvency plea on February 12. Earlier JP Associates had told SC that they have deposited Rs 550 Cr In Homebuyers' Case.
Canadian PM Justin Trudeau to visit India from Feb 17-23
Canadian Prime Minister Justin Trudeau will arrive in India on February 17 for a seven-day visit aimed at strengthening the bilateral strategic partnership in the key areas of counter-terrorism, energy and trade. Besides Delhi, PM Trudeau will visit Agra, Amritsar, Mumbai and Ahmedabad. The trip will include a visit to the Taj Mahal, the Golden Temple, Jama Masjid and the Swaminarayan Akshardham in Gujarat.
Assembly Election in Tripura to be held on February 18, in a single phase, votes will be counted on March 3. As many as eight states will go to polls in 2018.
China began an anti-dumping investigation on Monday into stainless steel imports worth $1.3 billion, including from a privately owned Chinese mill with operations offshore, after complaints of damage to the local industry.
State-owned PNB today said it has received Rs 2,816 crore as capital infusion from the government via preferential allotment of equity shares.
The Border Roads Organisation has spent more than Rs 1,900 crore on construction and improvement of infrastructure on the north-western and north-eastern borders of India, the government said.
The population of tigers is on the rise, the government said today quoting preliminary census data.
Barely two weeks since launch, BSNL's internet telephony service 'Wings' has received over 4,000 bookings for the new offering that will allow users to dial any phone number in India through a mobile app, starting this week, its Chairman said today.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.