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

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March 9 (Bloomberg) -- 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