November 29, 2017 / 3:29 AM / a year ago

Morning News Call - India, November 29

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    9:15 am: Punjab National Bank continues to sell up to 9.99 million shares of
PNB Housing Finance via offer for sale, Retail part of offer opens in Mumbai.
    9:15 am: Environment Minister Harsh Vardhan to inaugurate symposium on
Indian Strategy for Quality Infrastructure in New Delhi.
    10:30 am: Jet Airways Chairman Naresh Goyal at a press conference in Mumbai.
    12:30 pm: Future Supply Chain Solutions initial public offering press
conference in Mumbai.
    GMF will be present at the ASIFMA Annual Conference 2017 in Hong Kong and as
part of our line-up we speak to Binay Chandgothia, Managing Director, Portfolio
Manager, Principal Global Investors on Asian equities, FED rates and of course
Crypto-currencies at 09:15 am IST. To join the conversation, click on the link:
    • POLL-Indian economic growth set to end five-quarter slide
    Indian economic growth likely rebounded in the July-September quarter from
the slowest growth in three years, with demand picking up modestly as the
effects from a shock ban on high-value currency notes eased, a Reuters poll
    • India's government wants RBI rate cut before March - fin min sources
    Impatient for faster economic growth, India's government is lobbying for a
reduction in official interest rates in coming months as it expects inflation to
stay close to a 4 percent target, finance ministry officials said.
    • Coal India to raise executive salaries at a cost of 8 billion rupees
    Coal India Ltd, the world's largest coal miner, will pay its executives
about 8 billion rupees in salary rises retroactive from January this year,
interim chairman Gopal Singh told Reuters.
    • RCom debt restructuring clouded by CDB insolvency action
    Indian telecom player Reliance Communications'planned debt restructuring
could be complicated by China Development Bank's triggering of insolvency action
against the beleaguered company.
    • Indian telecom regulator backs open internet
    India's telecoms regulator made long-awaited recommendations on Tuesday to
ensure an open internet and prevent any discrimination in internet access in the
    • India's Future Supply Chain, Shalby to launch IPOs next week
    Indian logistics provider Future Supply Chain Solution's initial public
offering of shares to raise up to 6.5 billion rupees will open next week, adding
to what has been a record year for initial share sales in the
    • Air India Express plans growth before privatisation - CEO
    State-owned Air India's low cost airline Air India Express will continue to
expand before the group's privatisation next year, in a bid to increase its
valuation, its chief executive said on Tuesday.
    • AirAsia India expects revenue to double this year, triple in 2018
    Budget carrier AirAsia India expects revenue to double to 12 billion Indian
rupees this calendar year, and triple to 18 billion rupees in 2018, its chief
executive said on Tuesday.X
    • North Korea ICBM test may show Washington within range 
    North Korea launched what officials said was likely an intercontinental
ballistic missile that flew high into space before landing near Japan on
Wednesday, showing Pyongyang may now be able to reach Washington, D.C. with its
    • U.S. Senate Republicans shove tax bill ahead as Democrats fume
    U.S. Senate Republicans rammed forward President Donald Trump's tax-cut bill
on Tuesday in an abrupt, partisan committee vote that set up a full vote by the
Senate as soon as Thursday, although some details of the measure remained
    • Japan retail sales suffer first annual fall in a year
    Annual Japanese retail sales fell for the first time in a year last month,
government data showed, as poor weather including two typhoons kept consumers
away from stores and restaurants.
    (As reported by NewsRise)
    • The SGX Nifty Futures was trading at 10,394.50, trading up 0.25 percent
from its previous close.
    • Indian government bonds are expected to gain, tracking lower crude oil
prices that improve the outlook for domestic inflation. The yield on the
benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 7.00
percent-7.06 percent band.
    • The Indian rupee will likely edge lower against the dollar in early trade,
tracking overnight gains in the greenback underpinned by strong U.S. economic
data and after Fed chair nominee Jerome Powell hinted at a rate hike next month.
    • Wall Street surged to record highs on Tuesday led by sharp gains in bank
stocks, and boosted by progress for a tax cut bill, strong consumer confidence
data and encouraging comments from President Donald Trump's nominee to lead the
Federal Reserve.
    • Asian share markets were not as jubilant, held back by caution over the
latest missile test by North Korea and concerns at recent softness in Chinese
    • The dollar gained against the yen, lifted by strong U.S. economic data
while North Korea's latest missile launch had little immediate impact on
currency markets though investors are focused on how the U.S. responds to the
    • U.S. Treasury yields inched higher on Tuesday, as risk appetite improved
with Wall Street shares hitting record highs after upbeat consumer confidence
data and a Senate panel vote to advance a U.S. tax bill.
    • Oil prices fell on doubts OPEC and Russia will agree an extended crude
production cut that the market has priced in, and after a report of an
unexpected rise in U.S. fuel inventories.
    • Gold prices held steady as the reaction to North Korea's latest missile
test was muted, while palladium hovered near the 17-year peak touched in the
previous session.
                    CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF  spot         64.38/64.41  November 28      -$1.90 mln  -$35.04 mln
 10-yr bond yields  7.11pct      Month-to-date    $3.02 bln   -$178.34 mln
                                 Year-to-date     $8.67 bln   $25.77 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 = 64.44 Indian rupees)

 (Compiled by Shradha Singh in Bengaluru)
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