BRIEF-La Opala R G lifts suspension of activities at Madhupur plant
* La opala r g - suspension of activities at madhupur plant has been lifted, following an amicable settlement with workers union on 21st june, 2017
To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 11:00 am: Budget session of parliament continues in New Delhi. 05:00 pm: Government to release February infrastructure output data in New Delhi. 05:00 pm: RBI to release weekly foreign exchange data in Mumbai. 05:30 pm: GST Council meets in New Delhi. 06:20 pm: Federal cabinet to meet, agenda not disclosed in New Delhi. LIVECHAT- QUIZ EAST The first of our Friday quizzes focuses on Asia and the week's top news. Tests your wits and googling speed, at 1100 am. To join the conversation, click on the link: here INDIA TOP NEWS • India seeks ways to revive state steel giant after damning report India has set up an expert panel to help revive its loss-making state steel maker after a government review found the company to be far less efficient than its rivals despite spending more than $10 billion in the past eight years. • India to consider extension of tax benefits to big power projects India will put forward a proposal in its cabinet on Friday to give 25 large power projects extra time to take advantage of tax incentives, two government officials said, as a part of efforts to cut power tariffs and help to reduce stress on banks saddled with bad loans. • India extends Canada exemption from crop fumigation policy India will exempt Canada for three months from its policy that so-called pulse crops such as peas and lentils must be fumigated with methyl bromide to kill insects before leaving the country of origin, the Canadian government said on Thursday. • India privately took Amazon to task over insulting flag doormat India's reaction to an Amazon.com website selling doormats resembling the country's flag involved an unprecedented public and private offensive against the U.S. company by Prime Minister Narendra Modi's government, a document shows. GLOBAL TOP NEWS • Trump says trade gap will make China meeting 'a very difficult one' U.S. President Donald Trump set the tone for a tense first meeting with Chinese President Xi Jinping next week by tweeting on Thursday that the United States could no longer tolerate massive trade deficits and job losses. • China March factory activity grows fastest in nearly 5 years-official PMI Activity in China's manufacturing sector unexpectedly expanded at the fastest pace in nearly 5 years in March, adding to evidence that the world's second-largest economy has gained momentum early this year, an official survey showed. • Toshiba offered $17.9 bln for chip unit by Silver Lake and Broadcom-Nikkei U.S. private equity firm Silver Lake Partners and U.S. chipmaker Broadcom Ltd have offered Toshiba Corp about 2 trillion yen for its chip unit, the Nikkei business daily reported. LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were trading at 9,184.00, trading down 0.11 pct from its previous close. The Indian rupee will likely open little changed to slightly higher against the dollar, shrugging off strength in the greenback after upbeat U.S. growth data, as investors buy into the nation’s assets ahead of the financial year-end. Most other Asian currencies were lower. Indian government bonds may rise, as state-run lenders are likely to continue purchases to boost fiscal year-end valuations. However, higher U.S. yields and crude oil prices may weigh on appetite, a dealer with a private bank said. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.66 pct-6.73 pct band today. The bond had closed at 101.95 rupees, yielding 6.69 pct, yesterday. GLOBAL MARKETS • Wall Street gained on Thursday, led by financial shares, after data showed U.S. economic growth was stronger than previously reported last quarter, helped by robust consumer spending, and the tech-heavy Nasdaq set a record closing high. • Asian shares were mixed and the dollar extended its overnight gains on signs of strong U.S. economic growth, while the euro inched up after sliding overnight on data suggesting slowing growth in Europe. • The dollar edged up in Asian trading, poised for weekly gains after solid U.S. economic data contrasted with figures showing euro zone inflation cooling. • U.S. Treasury debt yields rose on Thursday after the final fourth-quarter U.S. grossdomestic product number was revised higher, reflecting steady but less spectacular growth than in the prior quarter for the world's largest economy. • Oil prices eased as traders took profits following three days of straight gains on the expectation that an OPEC-led crude supply cut that was initially supposed to only last for the first half of the year would be extended. • Gold prices held firm amid lingering uncertainty over upcoming elections in Europe and Britain's exit from the European Union, even as the dollar hovered around two-week highs on positive U.S. economic data. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.93/64.96 March 30 $10.48 mln $151.26 mln 10-yr bond yield 7.06 Month-to-date $4.62 bln $4.15 bln Year-to-date $6.18 bln $5.46 bln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 64.8500 Indian rupees)
* Clarifies on news item "Lenders clear Jaiprakash Associates recast plan."