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.