India Swaps to Surge on Record Jump in Benchmark Rate, Morgan Stanley Says India’s swap rates will surge as the
central bank increases the benchmark borrowing costs by a record
1.5 percentage points this year to curb inflation, Morgan
Stanley said.
Fitch Says Any Failure by India to Meet Its Budget Deficit Target Negative Any failure by India’s government to
meet its budget deficit target will be seen as a “negative”
for the nation’s sovereign rating, Andrew Coquhoun, director at
Fitch Ratings’ Asia-Pacific Sovereign Group, said in a
conference call today.
Sensitive Index Ends Little Changed; Bharti Airtel Advances, ITC Declines India’s key Sensitive Index ended
little changed. Bharti Airtel Ltd. led phone companies higher
after Credit Suisse Group AG upgraded the industry.
Indian Auto Stocks Rating Is Lowered, Phone Shares Raised at Credit Suisse India’s automobile shares were
downgraded while telephone stocks were upgraded at Credit Suisse
Group AG, which said it was turning more “defensive” on the
equity market.
Manufacturing Growth in India Accelerates at Fastest Pace in 17 Months India’s manufacturing output
accelerated at the fastest pace in 17 months in January,
underscoring the central bank’s decision last week to start
tightening monetary policy.
Ashok Leyland Says Profit Margin to Rise to 10% in Year Ending March 31 Ashok Leyland Ltd., India’s second-
biggest truckmaker, expects its operating profit margin to rise
to 10 percent in the year ending March 31 as sales increase
ahead of government policies that may drive prices higher.
Sugar Prices to Remain Strong as Deficit Widens, Balrampur's Saraogi Says Sugar prices will remain “strong”
amid a global supply shortage, India’s second-biggest producer
said. Shares of sugar millers advanced in Mumbai.
State-Run Refiners Gain on Speculation India May Recommend Price Revision Indian Oil Corp., the nation’s
biggest state-run refiner, and its counterparts gained in Mumbai
trading on speculation a panel may recommend they be allowed to
sell fuels closer to market prices.
Rupee Weakens, Snapping Two Days of Gains, as Foreign Funds Pare Holdings India’s rupee declined, snapping two
days of gains, on speculation falling Asian equities and the
strength of the dollar against a basket of currencies will
prompt investors to pare holdings of emerging market assets.
Hathway Cable, Investors to Sell Shares in India Initial Offer Feb. 9-11 Hathway Cable & Datacom Ltd. and
shareholders will sell stock in an initial public offering from
Feb. 9 to Feb. 11, according to a document sent to investors.
Citigroup Said to Plan Sale or Disposal of $10 Billion Private-Equity Unit Citigroup Inc. plans to sell or split
off its $10 billion Citi Private Equity unit, expanding the list
of money-management businesses the U.S. bank is disposing of to
reduce debt, people familiar with the matter said.
Consumer Spending in U.S. Rises for Third Straight Month in Recovery Sign Spending by U.S. consumers increased
in December for a third consecutive month, signaling the
biggest part of the economy will contribute more to growth in
coming months.
U.S. Stock Futures Gain After Personal Incomes Increase More Than Forecast U.S. stock-index futures rose,
indicating the Standard & Poor’s 500 Index may rebound from a
three-month low, after Americans’ income increased more than
economists estimated.
Toyota Will Send Pedal-Repair Kits to U.S. Dealers This Week After Recall Toyota Motor Corp. is making “field
remedy” kits to fix flawed accelerator pedals that caused a
recall of 2.3 million U.S. vehicles and aims to deliver them to
dealerships in the nation starting late this week.
HSBC, Santander Increase Share of U.K. Mortgage Market as Mutuals Shrink HSBC Holdings Plc and Banco Santander
SA are among banks gaining a bigger share of the mortgage market
as Britain’s building societies post the worst contraction in
lending since records began.
Company Bond Sales Fall 7% as Greece Drives Spreads Wider: Credit Markets Bond sales by nonfinancial companies
fell 7 percent in January as the cost to borrow rose from a two-
year low on growing concern that governments struggling to pay
their debts will derail the economic recovery.
Travelport Says Public Offering Will Value Company at Up to $3.45 Billion Travelport Ltd., the Dublin-based
provider of travel reservation systems whose owners include
Blackstone Group LP, today starts selling shares in an initial
public offering valuing the company at as much as $3.45 billion.
source: Bloomberg
