February 23, 2018 / 3:30 AM / 25 days ago

Morning News Call - India, February 23

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    9:15 am: Power Minister R.K. Singh, Power Secretary A.K. Bhalla, EESL MD
Saurabh Kumar to address Green Energy Summit in New Delhi.
    •10:00 am: Banking Secretary Rajiv Kumar, Renewable Energy Secretary Anand
Kumar, SBI Chairman Rajnish Kumar at International Solar Alliance and PHD
Chamber of Commerce stakeholders meeting in New Delhi.
    •11:00 am: Textiles Secretary Anant Kumar Singh to inaugurate IHGF Delhi
Fair in New Delhi.
    •12:00 pm: Food & Public Distribution Secretary Ravikant, Indian Sugar Exim
CEO Adhir Jha at launch of e-commerce platform for sale of sugar and allied
products in New Delhi.
    •5:00 pm: Prime Minister Narendra Modi, Vedanta Resources Chairman Anil
Agarwal and Yes Bank CEO Rana Kapoor at the Global Business Summit in New Delhi.
    •5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
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    • EXCLUSIVE-Essar seeks loans from traders as banks fear Russian links
    Refiner Essar Oil is looking to raise over $1 billion from trading houses
after its new Russian owners could not raise loans from major Western banks due
to sanctions on Russia.    
    • Billionaire jeweller's Rolls-Royce, Porsche seized in bank fraud probe
    A financial crime-fighting agency said on Thursday it has seized a
Rolls-Royce Ghost, a Porsche Panamera and some half a dozen more luxury vehicles
belonging to billionaire jeweller Nirav Modi and his firms, in a probe into an
alleged $1.8 billion fraud against state-run Punjab National Bank. 
    • Indian state oil refiners see strong margins for 2018
    India state refiners expect their profit margins to hold their strength this
year as demand growth accelerates for fuel products amid a record $93 billion
spent on infrastructure and stable crude oil prices, company executives and
analysts said.    
    • ANALYSIS-Train shortage, power demand to drive resurgence in India's coal
    Caught between logistical bottlenecks and surging demand from power plants,
India will likely increase coal imports in 2018, industry executives said, in
what would be a setback to the government's plans to cut the country's
dependence on foreign supplies.    
    • Police arrest owner of pen maker Rotomac in bank probe
    The federal police investigating wrongdoing in the banking sector arrested
the owner of pen maker Rotomac Global and his son on Thursday, a spokesman said.
    • Sembcorp Industries to raise $380 million from asset sales, plans India
energy IPO
    Singapore's Sembcorp Industries said it expects to raise about $380 million
from the sale of some utilities assets and plans to list its Indian energy
business, as it reported a plunge in quarterly profit.
    • U.S. gun lobby slams anti-gun 'elites' after Florida school massacre
    The head of the US National Rifle Association lashed out at gun control
advocates on Thursday, saying Democratic elites are politicizing the latest mass
school shooting in the United States to try to erode constitutionally guaranteed
gun rights.    
    • Japan's inflation steady in Jan, keeps BOJ exit from stimulus distant
    Japan's core consumer inflation was steady in January from a year earlier in
a sign a strengthening economy has yet to prompt companies to raise prices, a
challenge policy makers have yet to overcome despite years of massive stimulus.
    • HP Inc results beat estimates, raises 2018 profit forecast
    HP reported first-quarter revenue and profit on Thursday above Wall Street
estimates as it sold more personal computers and printers, helping the company
raise its full-year profit forecast.
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,400.50, up 0.19 pct from its
previous close.
    • The Indian rupee will likely open steady to higher against the dollar,
after the greenback’s recent rally fizzled out amid a slight pullback in the
U.S. treasury yields overnight. 
    • Indian government bonds are likely to trade lower in early session as
higher U.S. yields weigh on demand amid lack of fresh domestic triggers.
    • The Dow and S&P 500 advanced on Thursday to halt a two-session losing
skid, buoyed by gains in industrial and energy shares as U.S. Treasury yields
eased, while the Nasdaq lost ground for a third straight session.
    • Asian shares rebounded as comments from a Federal Reserve official eased
worries that the central bank might raise rates more aggressively this year,
while the safe-haven yen held on to its gains amid heightened volatility across
    • The dollar sagged broadly after its recovery this week faded as U.S.
Treasury yields declined from their recent peaks.
    • Oil prices edged up, supported by lower U.S. crude inventories, but gains
were capped by a surge in U.S. exports that dragged net imports in the world's
biggest fuel consumer to a record low.
    • Gold prices slipped on a stronger dollar and the yellow metal was on track
for its sharpest weekly drop in 2-1/2 months.
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         65.01/65.04  February 22      -$359.4 mln  -$70.88 mln
 10-yr bond yield  7.8 pct      Month-to-date    -$1.14 bln   $178.22 mln
                                Year-to-date     $895.76 mln  $1.65 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)

 (Compiled by Swathi Nair in Bengaluru)
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