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REFILE-Morning News Call - India, November 7
November 7, 2017 / 3:42 AM / a month ago

REFILE-Morning News Call - India, November 7

 (Corrects to remove item on GlaxoSmithKline Consumer Healthcare post-earnings
analyst conference call as the event is slated for Nov 8)
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    FACTORS TO WATCH
    9:30 am: GMR Group CFO Madhu Terdal, NHAI Member Rohit Kumar Singh, State
Bank of India CFO Anshula Kant, Bank of India MD Dinabandhu Mohapatra, Punjab
National Bank MD Sunil Mehta and other banking industry officials at FIBAC 2017
event in Mumbai.
    10:00 am: HDFC Standard Life Insurance Company IPO opens for subscriptions
in Mumbai.
    10:00 am: Insolvency and Bankruptcy Board of India Chairperson M.S. Sahoo,
State Bank of India MD P.K. Gupta at ASSOCHAM’s ‘New Corporate Insolvency Regime
and Real Estate Regulation Act’ event in Mumbai.
    11:00 am: Punjab National Bank analyst meet in Mumbai.
    12:30 pm: Microsoft CEO Satya Nadella at an event in New Delhi.
    3:00 pm: Hindustan Copper press meet in Kolkata.
    3:30 pm: Finance Minister Arun Jaitley likely to brief media in New Delhi.
    4:00 pm: Alembic Pharma post-earnings analyst conference call in Mumbai.
    4:00 pm: Jyothy Laboratories post-earnings analyst conference call in
Mumbai.
    4:30 pm: L&T Technology MD Keshab Panda at post-earnings press conference in
Bengaluru.
    4:30 pm: Aditya Birla Capital post-earnings analyst conference call in
Mumbai.
    4:30 pm: BHEL post-earnings analyst conference call in Mumbai.
    4:45 pm: Cipla earnings press conference in Mumbai.
    5:00 pm: Manappuram Finance post-earnings analyst conference call in Mumbai.
    6:00 pm: Defense Minister Nirmala Sitharaman at book release event in New
Delhi.
    6:00 pm: Cipla post-earnings analyst conference call in Mumbai.


    
    LIVECHAT-TRUMP IN ASIA 
    Japan Macro Advisors chief economist Takuji Okubo will assess the result
yielded from the meeting between Japan Prime Minister Shinzo Abe and Trump at
11:00 am IST. To join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • India's RCom to sell DTH business to reduce debt
    Telecom operator Reliance Communications Ltd said on Monday it signed an
agreement to sell its non-core Direct-to-Home business, in a bid to reduce debt
load.
    
    • India orders investigation after Paradise Papers leak
    India on Monday formed a panel of government officials to investigate cases
that figure in the so-called Paradise Papers, a trove of leaked documents about
offshore investments of wealthy individuals and institutions.
    
    • Indian fund manager Reliance Nippon Life rises over 18 percent on market
debut
    India's Reliance Nippon Life Asset Management Ltd surged as much as 18.7
percent in its market debut on Monday as the first mutual fund company to list
in the country benefitted from a strong outlook for the asset management sector.

    
    • Royal Enfield's big bike could test Harley's India dominance
    Harley-Davidson Inc's pole position in India's fast growing big-bike
category is set to face a sweeping test when Indian-owned Royal Enfield launches
its first heavyweight bike on Tuesday.
    
    • Indian shoe retailer Khadim's $84 million IPO subscribed 1.9 times
    Footwear retailer Khadim India Ltd's initial public offering of shares to
raise up to 5.43 billion rupees was subscribed 1.9 times by the last day of the
sale on Monday, stock exchange data showed.
    
    • CDPQ's Ivanhoe Cambridge names Chanakya Chakravarti as managing director
of India ops
    Ivanhoe Cambridge, the real estate investment arm of Canada's second-biggest
public pension fund, Caisse de depot et placement du Quebec (CDPQ), said on
Monday it appointed Chanakya Chakravarti to head its Indian operations.

    
    • Indian steel shortfall causes clash over Railways demand for rail imports
    India's steel and rail ministries are at loggerheads over the state-run
network's proposal to buy much-needed rails from overseas, a move that would
undermine Prime Minister Narendra Modi's drive to build key infrastructure in
India.
    
    • India cracks open Iran sea route to Afghanistan, bypassing rival
    India is in talks with Iran to begin interim operations at a port in
southeast Iran, officials say, proceeding cautiously on developing the facility
at a time when the Trump administration has laid an aggressive new approach
toward Tehran.


    GLOBAL TOP NEWS
    • Trump's Seoul visit to put him at heart of North Korea nuclear standoff
    U.S. President Donald Trump will step directly into the shadow of the North
Korean nuclear standoff on a visit to South Korea in which his words alone could
risk further inflaming tensions with North Korean leader Kim Jong
Un.
    
    • Broadcom bids $103 billion for Qualcomm, open to going hostile
    Chip maker Broadcom Ltd made an unsolicited $103 billion bid for Qualcomm
Inc on Monday, setting the stage for a takeover battle that could reshape the
industry at the heart of mobile phone hardware.
    
    • Australia's low inflation likely overstated, rate rise ever more distant
    Australian's already anaemic inflation rate looks set to be revised lower as
changing spending habits by consumers are taken into account, further pushing
out the day when interest rates might rise from record lows.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,519.00, trading up 0.4 percent
from its previous close.
    
    • Indian government bonds are likely to trade lower as investors may
continue selling notes amid higher crude oil prices that fuel concerns on
inflation. The yield on the benchmark 6.79 percent bond maturing in 2027 is
likely to trade in a 6.87 percent-6.91 percent band.  
    
    • The Indian rupee will likely open higher against the dollar, tracking
gains in most Asian currencies, as concerns over whether the Republicans will be
able to pass the U.S. tax bill in a timely manner weighed on the U.S. Treasury
yields, halting a rally in the dollar.

    
    
    GLOBAL MARKETS
    • U.S. stocks climbed to record highs on Monday, helped by optimism about
merger activity and as investors bet that a Republican plan to cut corporate
taxes would bolster earnings.
    • Asian shares touched their highest in a decade, while oil prices edged
down after surging to a more than two-year peak as Saudi Arabia's crown prince
cracked down on corruption.
    • The dollar sagged, knocked away from an eight-month highs versus the yen
down as Treasury yields slipped on uncertainty over whether the Republicans can
pass their tax bill in a timely manner.
    • The gap between U.S. short-dated and long-dated Treasury yields on Monday
contracted to its tightest levels in a decade as sluggish domestic inflation
underpinned demand for longer-maturity government bonds.
    • Oil prices edged lower after posting the biggest gains in six weeks a day
earlier, buoyed by moves by Saudi Arabia's crown prince to tighten his grip on
power and rising tensions between the kingdom and Iran.
    • Gold inched down after gaining nearly one percent in the previous session,
easing as firmer Asian stocks marked a 10-year peak.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         64.67/64.70  November 6       $89.14 mln  $124.77 mln
 10-yr bond yield  6.99 pct     Month-to-date    -           $116.10 mln
                                Year-to-date     -           $25.83 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 = 64.62 Indian rupees)
    
    

 (Compiled by Nachiket Tekawade in Bengaluru)
  

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