India may buy 26.3 million metric tons of wheat from local farmers in the year starting April 1, Food Minister K.V. Thomas said yesterday.
ECONOMY: * India to sell 50 billion rupees of 91-day bills. * India to sell 30 billion rupees of 364-day bills. WHAT TO WATCH: * Most of the solar power plants that were to be running this year in the first phase of India’s largest solar energy program missed their deadline and will face fines, a state government official said. * India’s Congress party and its ally Dravida Munnetra Kazhagam agreed on sharing seats for elections in the southern state of Tamil Nadu, Health Minister Ghulam Nabi Azad said yesterday. * The Securities & Exchange Board of India will auction on March 15 investment permits to allow foreign investors to buy local government and corporate debt. * India’s government may extend sale of subsidized imported cooking oil through state-owned shops beyond March 31, Food Minister K.V. Thomas said in a written reply in parliament yesterday. MARKETS: * The Dow Jones Industrial Average rose 1 percent. * The MSCI Asia Pacific Index was little changed at 138.11. * India’s benchmark stock index rose 1.2 percent. EQUITY MOVERS: * National Aluminium Co. (NACL IN), India’s second-biggest producer of the metal, forecast a profit of 11 billion rupees ($244 million) on sales of 64.95 billion rupees for the year ending March 31, 2012, according to a letter sent to shareholders. * Infosys Technologies Ltd. (INFO IN) will name billionaire Chairman N.R. Narayana Murthy’s successor by July 15. Murthy will retire in August, he said in an interview yesterday. CONFERENCES/EVENTS: * Confederation of Indian Industry seminar on military modernization. * Praful Patel, minister for heavy industries, to hold a session with chief executives officers of Maharatna, Navratna and Miniratna Central Public Sector Enterprises. * Private Equity, Mergers & Acquisitions Summit 2011. * Power Finance Corp. press conference. * Ford India press conference. * Society Of Indian Automobile Manufacturers Bus And Special Vehicles Expo. * WHO Media Workshop. * SAP introduces new products. * FICCI media interaction with Talmiz Ahmad, Indian ambassador To Saudi Arabia. * CII interactive meet on NELP-IX. * Kapil Sibal to inaugurate the e-post office of India Post. BLOOMBERG UTV INTERVIEWS: * 10:15 a.m. Rajesh Jain, executive vice president, head of retail research, Religare. * 11:30 a.m. Kamal Baheti, chief financial officer, McLeod Russel India. * 12:00 p.m. Peter McGuire, independent strategist. * 1:15 p.m. Pujit Aggarwal, managing director, Orbit Group. CRICKET WORLD CUP: * 2:30 p.m. India vs. Netherlands.
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