INDIA DAYBOOK: Wheat Purchase, Solar Power, Murthy’s Successor

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.

To contact the reporters on this story: Malavika Sharma in New Delhi at msharma52@bloomberg.net; Anto Antony in New Delhi at aantony1@bloomberg.net

To contact the editor responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net

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