March 28, 2017 / 3:31 AM / 9 months ago

Morning News Call - India, March 28

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    10:00 am: Ministry of Earth Sciences Secretary M. Rajeevan and IMD Official
K.J. Ramesh at a workshop in New Delhi.
    11:00 am: Budget session of parliament continues New Delhi.
    01:15 pm: Electronics & IT Minister Ravi Shankar Prasad meets Xiaomi Inc
founder Lei Jun New Delhi.
    03:00 pm: Railway Minister Suresh Prabhu to launch a train route extension
New Delhi.

    The pace of interest rate hikes by the Federal Reserve this year now appears
to be writing on the wall, with most FOMC members pointing to June for the next
hike, and possibly two more increases this year. Tim Condon, Asia chief
economist at ING, will discuss how this roadmap may impact Asia rates and
economies, at 9.00 am. To join the conversation, click on the link: here

    • India's top refiner to supply fuels to Nepal for five years
    Indian Oil Corp has agreed to supply refined products to Nepal for the next
five years to meet all the fuel needs of the landlocked Himalayan nation,
officials said on Monday.
    • Vedanta's Agarwal says happy with his 13 pct of Anglo American 
    Indian billionaire Anil Agarwal said on Monday he was happy with his
personal 13 percent stake in mining company Anglo American and was just planning
to keep it as an investment for now.
    • India's finance minister paves way for landmark tax reforms 
    India's finance minister Arun Jaitley paved the way for landmark tax reforms
on Monday, introducing four bills on the goods and services tax in the lower
house of parliament.
    • India's Motherson Sumi buys Finland's PKC Group for $619 mln 
    Indian auto parts maker Motherson Sumi Systems Ltd said on Monday it had
completed the buyout of Finland's PKC Group for 571 million euros.
    • Trump son-in-law met executives of sanctioned Russian bank; will testify 
    A Russian bank under Western economic sanctions over Russia's incursion into
Ukraine disclosed on Monday that its executives had met Jared Kushner, President
Donald Trump's son-in-law and a top White House adviser, during the 2016
election campaign.
    • Toshiba wants Westinghouse to file for bankruptcy as early as Tuesday
    Toshiba Corp wants its U.S nuclear unit to file for Chapter 11 protection
from creditors as early as today, according to a source with direct knowledge of
the matter, seeking a quick ringfencing of losses before the Japanese parent's
financial year ends.
    • Thousands take shelter as Cyclone Debbie lashes Australian coastal resorts
    Coastal areas in northeast Australia were battered by high winds and heavy
rainfall as a powerful cyclone, which prompted authorities to urge some 30,000
people to evacuate, hit island resorts along the world-famous GreatBarrier Reef.

    • U.S. equity index futures fell to a six-week low on Sunday in a sign Wall
Street would start the week defensively after Republicans pulled legislation to
overhaul the U.S. healthcare system in a stunning setback for President Donald
    • Asian stocks advanced after Wall Street steadied and the dollar bounced
from a four-month-low, as anxiety over Donald Trump's setback on healthcare
reform gave way to tentative hopes for the U.S. President's planned stimulus
    • The dollar limped away from multi-month lows against its major peers early
 as the previous day's rout petered out, but the U.S. currency remained on shaky
ground with much of the lift from the "Trump trade" now gone.

    • U.S. long-dated Treasury yields dropped to one-month lows on Monday,
weighed down by growing doubts about the Trump administration's ability to
deliver on its campaign promise to bolster the economy.
    • U.S. long-dated Treasury yields dropped to one-month lows on Monday,
weighed down by growing doubts about the Trump administration's ability to
deliver on its campaign promise to bolster the economy.
    • Gold prices steadied  as investors looked to see if U.S. President Donald
Trump will be able to enact promised tax cuts and infrastructure spending,
taking the dollar off multi-month lows.
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         65.04/65.07  March 27         $88.96 mln  $675.12 mln
 10-yr bond yield  7.13 pct     Month-to-date    $3.30 bln   $3.61 bln
                                Year-to-date     $4.85 bln   $4.92 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 = 64.9700 Indian rupees)

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