• India Retains Inflation Target, Keeps Borrowing as Planned
o Affirms Central Bank’s
Inflation Target for Five Years
• India’s Current Account Flips Back to Deficit on Trade Gap
o Oct.-Dec. Current Account Deficit $1.70B; Est. -$2.35B
o India Extends Emergency Credit Plans Until End-June
• India Plans $99 Billion of Bond Sales in Fiscal First Half
o To Borrow 7.24 Trillion Rupees in Fiscal First Half FY22
o India to Conduct 25 Weekly Govt Bond Auctions During April-Sept.
o India Ways and Means Advances Limit at INR1.2T for April-Sept
• India Maintains 15% Foreign Investment Limit in Corporate Bonds
• India Lowers Interest Rates on Small Saving Plans From April 1
• India Feb. Key Industries’ Output Falls 4.6% Y/y
• India April-Feb. Fiscal Deficit Reaches 76% of FY21 Target
• India Extends Foreign Trade Policy Until Sept. 30
• Cabinet approves Incentive Plan for Food Processing Industry
• India Retains Decade Low Natural Gas Price for Another 6 Months
• S&P Boosts 2021 Global GDP Growth Forecast to 5.5%
• Indian Banks Loans to Mid-Size Companies Rise to 7 1/2- Year High
• India to Inject $2 Billion Capital in Four Weakened State Banks
• Power Finance, REC to Reduce Lending Rates by up to 2%
• Biggest Rupee Bear Sees Asia’s Top FX Hitting One-Year Low
• Indian Rupee Reverses Drop on JSW Hydro-Related Inflows: Traders
• Agarwal’s Vedanta Plans New $1.4 Billion Copper Smelter
• World Sugar Deficit Outlook for 2020-21 Cut to 3.2m Tons: Stone
• Global Funds Sell Net INR16.9B of India Stocks on Wednesday: NSE
o Domestic funds buy net 20.8b rupees of stocks
• Foreigners Sell Net INR5.93B Indian Equity Derivatives Wednesday
• Pakistan to Resume Trade With India After 19-Month Hiatus
o Reduces Domestic Fuel Prices; Revives Trade With India
• IMF Warns World Economy Is at Risk of Being Scarred by Virus
• India Panel on Farm Laws Has Submitted Report to Top Court: PTI
• Lodha Developers may hit capital mkt on Apr. 7: PTI
• Bharat Petroleum (BPCL): Buys out Refinery JV Partner’s stake ahead of privatization; to pay INR24b to its Omani partner
• Britannia Industries (BRIT): Names Urjit Patel as non- executive independent director
• ESAB India (ESAB): Says Colfaxdemerger doesn’t affect its structure
• Hindalco Industries (HNDL): Says closing of green notes offering by unit Novelis
• Lemon Tree (LEMONTRE): To take full control of Hamstede Living by acquisition of 70% stake
By: via @AlliesFin Serve Stock Market
