INDIA DAYBOOK: Sarkozy Mumbai Address, Shipping Corp. Share Sale
France’s President Nicolas Sarkozy will address business leaders in Mumbai today. France and India signed an agreement that will allow Areva SA to build two nuclear reactors for $9.3 billion to help meet soaring energy demands in Asia’s second-fastest growing major economy.
WHAT TO WATCH: * Sarkozy to speak at a business conference in Mumbai * A surge in crude-oil prices to the highest level in two years is prompting Barclays Plc and Royal Bank of Scotland Group Plc to predict India’s widening current-account deficit will threaten this year’s rally in the rupee. * Billionaire Ajay Piramal plans to sell his stake in 3i Group Plc-backed Indiareit Fund Advisors Pvt., a real estate venture capital fund, according to a letter sent to investors. * India will buyback 120 billion rupees of government bonds maturing in six, seven, 10 and 12 years on Dec. 9, the Reserve Bank of India said in an e-mailed statement yesterday. * India will sell 60 billion rupees of bonds on Dec. 10, the Ministry of Finance said in an e-mailed statement yesterday. * President Pratibha Patil will attend environment awards in New Delhi.
MARKETS: * The Dow fell 0.2%. * India’s benchmark Sensitive index rose by 0.1 percent, with 18 of its 30 components closing higher. * India’s rupee strengthened beyond 45 per dollar for the first time in three weeks
EQUITY MOVERS: Selected stocks that may rise or fall following news: * Shipping Corp. of India (SCI IN) will sell shares at the top of its price range in its additional share offering. * Areva T&D India’s (ATD IN) parent signed a preliminary contract for nuclear reactors and services worth about 7 billion euros.
CONFERENCES: * Bio-pharma India convention in Mumbai. * Drug Discovery World India 2010 in Mumbai. * National Seminar on the Asia-Pacific trade agreement in New Delhi. * National Conference on Improving Energy Efficiency in Indian Secondary Steel Sector Including Steel Re-Rolling in New Delhi. * Hiroshi Nakagawa, Managing Director of Toyota Motors will announce the launch of “Toyota Etios” in Mumbai. * Kapil Sibal, Rakesh Bharti Mittal speak at a conference in New Delhi. * Salman Khurshid speaks at a press conference in New Delhi.
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