March 17 (Bloomberg) -- India’s central bank may raise interest rates today, a Bloomberg News survey showed, after inflation accelerated last month.
The Reserve Bank of India may raise its repurchase rate by a quarter-percentage point to 6.75 percent, all 26 economists in the survey said. It may boost the reverse repurchase rate to 5.75 percent from 5.5 percent, according to 25 of 26 forecasts, with one predicting no change.
ECONOMY: * 12:00 p.m. Reserve Bank of India to announce its review of monetary policy. * 12:00 p.m. Food articles wholesale price inflation. * 12:00 p.m. Fuel, power, light wholesale price inflation. * 12:00 p.m. Primary articles wholesale price inflation. WHAT TO WATCH: * A businessman and aide to the former Indian telecommunications minister being questioned in jail over the 2008 award of mobile- phone licenses, was found dead, two weeks before the first charges in the case are due. MARKETS: * The Dow Jones Industrial Average fell 2 percent. * The MSCI Asia Pacific Index rose 0.8 percent. * India’s benchmark stock index rose 1.1 percent. EQUITY MOVERS: * Cairn India Ltd (CAIR IN): Cairn Energy Plc is committed to complete a deal allowing Vedanta Resources Plc to acquire a stake in Cairn’s Indian unit by April 15, Chief Executive Officer Bill Gammell said in New Delhi. * Jyothy Laboratories Ltd. (JYL IN): Jyothy Laboratories Ltd. is seeking to purchase Henkel AG’s 51 percent stake in an Indian unit after acquiring a minority stake, according to a Jyothy executive. * SKS Microfinance Ltd. (SKSM IN): The company’s board decided against a proposal for corporate debt recast and will explore other options of fund raising from banks or financial institutions, according to a statement on the Bombay Stock Exchange. CONFERENCES/EVENTS: * The Confederation of Indian Industry will host a Green Manufacturing Summit in New Delhi. * Ratan Tata will inaugurate the Institute of Ayurveda and Integrative Medicine in Bangalore. * Chakravarthy Rangarajan, chairman, Prime Minister’s Economic Advisory Council and Home Minister P. Chidambaram will attend an National Institute of Public Finance and Policy event in New Delhi. * Vinod Rai, Comptroller and Auditor General of India, will attend MDI’s Annual Convocation in New Delhi. * Pawan Goenka, president, automotive division, Mahindra & Mahindra Ltd., will address a press briefing in Mumbai on the acquisition of SsangYong. * Shikha Sharma, managing director & chief executive officer, Axis Bank, and Sanjeev Aga, managing director, Idea Cellular, will brief media in Mumbai on strategic initiative for financial inclusion in India. * CII will host Maharastra Annual Day function in Mumbai. * GE Healthcare India will hold a press conference in Bangalore to launch products. CRICKET WORLD CUP: * 2:30 p.m. England vs. West Indies. To contact the reporters on this story: Unni Krishnan in New Delhi at firstname.lastname@example.org; Anto Antony in New Delhi at email@example.com To contact the editor responsible for this story: Sam Nagarajan at firstname.lastname@example.org