February 21, 2017 / 3:28 AM / 7 months ago

Morning News Call - India, February 21

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    FACTORS TO WATCH
    9:00 am: N. Chandrasekaran to take over as new chairman of Tata Sons in
Mumbai.
    
    11:00 am: Microsoft CEO Satya Nadela to meet Electronics and IT Minister
Ravi Shankar Prasad in New Delhi.
    
    12:00 pm: Environment Minister Anil Dave briefs media on air pollution in
New Delhi.
    
    1:30 pm: Reliance Industries Chairman Mukesh Ambani video statement in
Mumbai.
    
    2:00 pm: Finance Secretary Ashok Lavasa to speak at an event in New Delhi.
    
    3:00 pm: Foreign Investment Promotion Board meets to consider 24 FDI
proposals in New Delhi.
    
    LIVECHAT-INDIAN CRICKET BEYOND BCCI AND IPL 
    Cricketer Jatin Paranjpe joins us at 11:00 am to share his views on cricket
in the Kohli era, IPL and on why despite repeated attempts cricket still remains
a passionate sport in a handful of countries. To join the conversation, click on
the link: here
    
    LIVECHAT- FOREX PULSE
    We explore the outlook for FX markets with Derek Halpenny, European head of
FX research at Bank of Tokyo-Mitsubishi UFJ at 3:30 pm. To join the
conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • TCS announces up to $2.4 bln share buyback 
    Software services exporter Tata Consultancy Services will buy back shares
worth up to 160 billion rupees, it said on Monday, adding to pressure on
similarly cash-rich rival Infosys to follow suit.
    • Rosneft-led consortium plans to complete Essar acquisition next month
-sources 
    A consortium led by Russian oil major Rosneft plans to finally complete its
$12.9 billion acquisition of India's Essar Oil next month, two Russian sources
close to the deal told Reuters.
    • Reliance's Jio hails Uber ride in payments battle with PayTM
    Uber users in India, who until now had Chinese Internet giant Alibaba-backed
PayTM as the only payment wallet option available to book a ride, will now be
able to pay through Reliance Jio Infocomm's Jio Money.
    • Goldman unit launches up to $82 mln block deal in Max Financial - terms 
    A unit of Goldman Sachs has launched a block deal to sell up to $82.1
million worth of shares in Max Financial Services Ltd with an upsize option of
$41.1 million, a deal term sheet showed on Monday.
    • Russia to start deliveries of helicopters to India in 2019 
    Russia will start initial deliveries of military helicopters to India in
2019, with assembly and manufacturing to follow in Asia's fastest growing
economy, the chief executive of state-owned manufacturer Russian Helicopters
said on Monday.
    • India looks to expand energy ties with Myanmar
    India plans to sell refined crude oil products to Myanmar as part of New
Delhi's efforts to deepen ties with its eastern neighbour, which is expected to
see strong demand for fuels as it builds new roads, factories, utilities and
airports.
    • India extends anti-dumping duty on some Chinese steel items by 5 yrs 
    India has extended anti-dumping duty on some steel products from China by
five years, in a bid to retain protectionist barriers and stem the tide of cheap
foreign products.
    
    
    GLOBAL TOP NEWS
    • Outspoken general named Trump's top security adviser
    U.S. President Donald Trump on Monday named Lieutenant General Herbert
Raymond McMaster as his new national security adviser, choosing a military
officer known for speaking his mind and challenging his superiors.
    • Toshiba seeking $8.8 bln for majority stake in chip unit -source 
    Toshiba Corp wants to raise at least 1 trillion yen from the sale of a
majority stake in its flash memory chip business as a buffer against any fresh
financial problems, a source with direct knowledge of the matter
said.
    • Malaysian PM says probe into airport killing will be fair
    Malaysia's Prime Minister Najib Razak said on Monday his government's
investigation of the killing of the North Korean leader's half-brother, Kim Jong
Nam, will be "objective", as tensions rose between the countries.
    
    
    GLOBAL MARKETS
    • Asian stocks held near 1-1/2-year highs in subdued early trade as a
holiday in the United States left investors with few catalysts, while the euro
nursed overnight losses as lingering concerns about the looming French election
rattled its bonds.
    • U.S. crude futures rose for a second day with data showing hedge funds are
betting big across oil markets following OPEC production cuts agreed last year.

    • Gold prices eased slightly amid a firmer dollar as investors waited on
clues on the timing of U.S. interest rate hikes in a host of speeches by Federal
Reserve officials.
   
     
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         66.97/67.00  February 20      -$64.73 mln  -$10.31 mln
 10-yr bond yield  7.17 pct     Month-to-date    $1.58 bln    $1.10 bln
                                Year-to-date     $1.56 bln    $990.44 mln
 
    (Money markets are closed on account of Mumbai local elections)
    
    
    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]
    
       
    

 (Erum Khaled in Bengaluru)
  

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