India Week Ahead (Jan 15-20): GST council meet to guide markets
Tracking positive global cues Indian markets ended in the green for the week ending January 12. Key indices – Sensex ended up by 1.3%, Nifty gained 1.16% and Bank Nifty gained 0.2% for the week.
A look at some events that will be watched out for this week:
Reaction in HDFC, Capital First & IDFC Bank
Stocks of HDFC Ltd will be in focus on Monday as the mortgage lender raised Rs 13,000 cr, it will sell 3.87% stake to GIC Singapore, KKR, Premji Invest via preferential allotment at Rs 1726.05/Share to raise Rs 11,104 cr. The company also got board approval to raise remaining Rs 1896 cr via QIP. Capital First and IDFC Bank announced merger on Saturday in an all stock deal. The swap ratio for the merger is 139:10
After a good set of numbers by IndusInd Bank, TCS and Infosys, the street will be eyeing the next batch of Q3 earnings. Among prominent names Reliance Nippon Asset Management will announce its results on Tuesday. Adani Power, Adani Transmission, Mindtree, HUL and Bharti Infratel will announce their results on Wednesday. Adani Enterprises, Adani Ports, Bharti Airtel, Yes Bank, Ultratech Cement, Hind Zinc will announce on Thursday and finally on Friday Wipro, Kotak Mahindra Bank, HCL Tech, HDFC Bank, ITC, RIL will detail their Q3 results.
December WPI data
After a stellar IIP growth in the month of November at 8.4%, which is a 24-month high, and December CPI that breached the 5%-mark, came in at 5.21% vs 4.88%, market will be eyeing WPI data for the month of December. RBI has a target to keep inflation at 4% mark (2% plus/minus), RBI's Monetary policy committee due to meet next month, this inflation print will be crucial in policy formation forward.
GST Council meet
The 25th GST council meeting will be held on January 18. The council is likely to suggest bringing in all petroleum products under the ambit of GST in one go. The Council will also take a government-appointed committee's recommendation against inclusion of all services, barring restaurants, under the ambit of composition scheme in GST regime.
Israel PM in India
Israel PM Benjamin Netanyahu is a 6-day state visit to India, will be meeting PM Modi for bilateral talks on Monday. Later in the day will address India-Israeli CEOs forum meeting. PM Netanyahu will travel to home state of PM Modi in Gujarat to hold a road show, post that PM Netanyahu will travel to Mumbai to attend CEOs meet in the later part of the week.
Vancouver meet over North Korea Nuclear threat
India will be a part of an international meeting hosted by the US and Canada next month to discuss North Korea's nuclear threat and ways to improve the effectiveness of the current pressure campaign against the reclusive nation. The meeting co-hosted by the US and Canada will take place on January 16 in Vancouver.
Donald Trump's 1-year in office at White House
Donald Trump who won the keys to The White House against seasoned politicians will complete 1 year in office on Saturday. Lot was said about his candidature and his Presidency during the last one year. On his part US President has up his ante against ISIS, North Korea and lately against Pakistan to fight terrorism.
Former Telecom Minister's book launch
Former Telecom Minister A Raja who was recently given clean chit by Justice OP Saini's Special 2G court will release his ‘tell all’ book on 2G case on Saturday in New Delhi. The book will cover many topics that wasn’t dealt or was not under the jurisdiction of Justice OP Saini.