*Good Morning*
• India Approves $3.8 Billion Increase in Fertilizer Subsidy
• India to Auction 88 Coal Mines, Including 40 New Ones
• IMF Trims View on Growth Rebound as ‘Dangerous Divergence’ Seen
o World economy to expand 5.9% in 2021, less than July forecast
• Easing Inflation Makes Room for India Rates to Remain Lower
o India Sept. Consumer Prices Rise 4.35% Y/y, Est. +4.50%
o India Aug. Industrial Production +11.9% Y/y, Est. +11.6%
• India Allows Airlines to Operate at 100% Pre-Pandemic Capacity
• India Asks States to Divert Surplus Power to Ease Shortfall
• Amazon and Walmart Brace for Crucial Diwali Showdown
• JLR Owner to Sell EV Stake to TPG at $9.1 Billion Valuation
• Temasek, Google Invest in Indian Neobank Open’s $100M Funding
• India Cabinet Approves Extension of Water, Cleanliness Missions
• Modi Expedites India Asset Sales With Regional Airline on Block
• Malaysia Oct. 1-10 Palm Oil Exports to India 108,130 Tons: SGS
• Infosys to Report Results; Shares Up 33.4% YTD: Preview
• Wipro to Report Results; Shares Up 70.6% YTD: Preview
• Global Funds Sell Net INR2.78B of India Stocks on Tuesday: NSE
o Domestic funds sell net 7.41b rupees of stocks
• Foreign Investors Sell Net INR3.25B of Indian Equities on Oct. 11
• Foreigners Sell Net INR20.7B of India Equity Derivatives Tuesday
• India’s Key Equity Indexes Set Fresh Record; Consumer Firms Gain
• India doing well in terms of vaccinating its own people, says IMF official: PTI
• Zostel writes to Sebi, seeks rejection of Oyo draft IPO papers: PTI
• Bajaj Finserv (BJFIN): Says incorporation of AMC is under process; Bajaj Finserv MF Trustee Ltd. incorporated Oct. 11
• Centrum Capital (CECA): Says Centrum consortium gets small finance bank license from RBI
• Equitas Small Finance Bank (EQUITASB): To consider options for minimum public holding on Oct. 18 meet
• Gayatri Highways (GAYAHWS): To buy 11.54% of Cyberabad Expressways debentures and 11.54% of equity
• Happiest Minds (HAPPSTMN): Enters into partnership with Tech4th Solutions
• IndusInd Bank (IIB): Authorised by RBI to collect direct indirect tax
• NTPC (NTPC): Says making sure availability of coal at all its power station; making available required power for Delhi
• Power Finance Corp (POWF): To get greater operational and financial autonomy, accorded ‘Maharatna’ status
• Power Grid Corp (PWGR): Approves investment proposal to set up EV charging station in Navi Mumbai; to form unit for co’s telecom, digital tech business
• Puravankara (PURVA): Says unit to launch premium affordable housing in Mumbai, another unit to launch plotted development project in Bangalore
• Tata Motors (TTMT): To raise $1b from TPG rise climate for EV unit
• Zee (Z): CEO Says Invesco Proposed Merger With an Indian Co. in Feb.
• India DIPAM Secretary Pandey Expects to List LIC in 4Q FY22