*Good Morning*
• India Builds Up Covid Vaccine Stocks to Lift Shipments Globally
• Invesco Says Zee Founders Explored Deal with Reliance
o Reliance Says It Never Resorted For Hostile Takeover Of Zee
• Infosys Raises Revenue Outlook as IT Spending Holds Up
• Coal India Raises Supplies to Power Plants to Avert Crisis
• India Cuts Import Taxes on Edible Oils Again to Cool Market
• India’s September Oil Products Consumption Rises 2.9% Y/y
• OIL DEMAND MONITOR: U.S. Air Travel Recovery Beating Europe
• Global Funds Buy Net INR9.37B of India Stocks on Wednesday: NSE
o Domestic funds sell net 4.32b rupees of stocks
• Foreign Investors Buy Net INR2.55B of Indian Equities on Oct. 12
• Foreigners Buy Net INR8.85B Indian Equity Derivatives Wednesday
• Indian Stock Gauges Scale New Record Highs on Growth Optimism
• India strongly rejects China’s objection to Vice President Naidu’s Arunachal visit: PTI
• 12pm: India Sept. Wholesale Price Inflation YoY, est. 11.15%, prior 11.39%
• 12pm: India Care Sales data for September
• 10/14-10/15: India Sept. trade balance, est. -$22.9b, prior -$13.8b
o India Sept. Exports YoY, no est., prior 45.8%
o India Sept. Imports YoY, no est., prior 51.7%
• Dish TV India (DITV): Says board agreed that EGM cannot be called as sought by Yes Bank (YES)
• Hero MotoCorp (HMCL): Introduces retail finance schemes for customers
• Infosys (INFO): 2Q net income +12% y/y to 54.2 billion rupees, beats est. 52.88b; Revenue +20% y/y to 296b rupees, est. 293.65b
o Infosys Working on ‘A Solid Number’ of Large Deals, CEO Says
• Mindtree (MTCL): 2Q net income +57% y/y to 3.99b rupees, beats est. 3.39b; revenue +34% y/y to 25.9b
• NLC India (NLC): Seeks to raise coal output to 20m tons from 4m tons from next year
• PTC India (PTCIN): CMD Deepak Amitabh Resigns Effective Nov. 5 due to Personal Reaons
• Shipping Corp. (SCI): Says non-core assets to be hived off into unit
• UltraTech Cement (UTCEM): Says to fund capacity add via internal accruals; additional capacity need INR4b investment
• Wipro (WPRO): 2Q net income +19% y/y to 29.3b rupees, beats est. 28.75b; Revenue +30% y/y to 196.7b