November 30, 2017 / 3:21 AM / a year ago

Morning News Call - India, November 30

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    9:30 am: Bajaj Electricals Executive VP Pratap Gharge, Glenmark
Pharmaceuticals Information Technology Group VP Edsel Pereira, Mahindra Group
Digital Transformation Senior VP Jaspreet Bindra at Cryptocurrency and
Blockchain Conclave in Mumbai.
    11:00 am: Finance Minister Arun Jaitley to deliver a lecture in New Delhi.
    11:00 am: NITI Aayog Principal Advisor Ratan Watal at release of strategy
paper on resource efficiency New Delhi.
    12:30 pm: Junior Minister for Corporate Affairs P.P. Chaudhary and JK Tyre &
Industries CMD Raghupati Singhania at National CSR Summit 2017 New Delhi.
    2:15 pm: Food Safety and Standards Authority of India CEO Pawan Agarwal at
National CSR Summit 2017 New Delhi.
    5:00 pm: Government to release October Infrastructure output data New Delhi.
    5:30 pm: Government to release July- September GDP data New Delhi.
    5:45 pm: Chief Statistician T.C A. Anant to address media post release of
GDP data New Delhi.
    • India seen posting stronger growth as businesses adjust to new tax
    India's economic growth pace likely picked up in the three months ending in
September, halting a five-quarter slide as businesses started to overcome
teething troubles after the bumpy launch of a national sales tax.
    • India's Jet, Air France-KLM expand ties in potential challenge to Etihad
    India's Jet Airways and Air France-KLM on Wednesday announced a partnership
to route more traffic through Europe and on to North America, in a potential
challenge to Gulf carrier Etihad Airways that is a shareholder in
    • India's top listed firms log best profit growth in six quarters
    Earnings for companies in India's broader NSE index rose at their best pace
in six quarters during July-September, according to Thomson Reuters Eikon data,
showcasing how profits are finally looking up after a prolonged spell of
sluggish growth.
    • Indian court slaps Nestle India with fine over substandard noodles
    An Indian court on Tuesday imposed a fine of 4.5 million rupees on Nestle
India in a 2015 case for selling substandard instant noodles after a laboratory
test found high ash content in its popular Maggi brand.
    • India's Mecon partners Italy's CSM to develop electrical steel 
    India's state-owned consultancy and engineering firm Mecon Ltd signed a
preliminary understanding with Italy's Centro Sviluppo Materiali to develop
electrical and automotive grade steel for domestic steelmakers.
    • UAE's RAK Ceramics plans capacity expansion in India -CEO
    RAK Ceramics plans to build a third plant in India to almost double its
production capacity there next year, the UAE-based company's chief executive
told Reuters.
    • Japan October industrial output rebounds, manufacturers see good times
    Japan's industrial output rose less than expected in October, but companies
forecast production to rise strongly in November and December as robust overseas
demand continues to support factory activity and broader economic
    • Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally
    Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row
on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns
that a rapidly swelling bubble could be set to burst in spectacular
    • U.S. Senate takes step toward passage of tax bill, vote likely this week
    The U.S. Senate on Wednesday took a step toward passage of tax legislation
that is a top White House priority, setting up a likely decisive vote later this
week even though it was unclear if the bill hadX
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,013.00, trading down 0.45 percent
from its previous close.
    • Indian government bonds are likely to fall in early trade as the market
prepares for a fresh supply of notes and the release of the nation's gross
domestic product data. The yield on the benchmark 6.79% bond maturing in 2027 is
likely to trade in a 7.00 percent-7.05 percent band till the cut-offs of the 150
billion-rupee debt sale.
    • The Indian rupee will likely open lower against the dollar, as weakness in
regional equities may hurt local shares ahead of India’s July-September economic
growth and fiscal deficit data, due later today.

    • The Nasdaq posted its biggest one-day drop in more than three months on
Wednesday as investors fled high-flying technology stocks and shifted to banks
and other pockets of the market that could benefit from improving economic
conditions, lower regulations and taxes as well as higher interest rates.
    • Asian shares fell, weighed down by a plunge in high-flying technology
shares, a move that some see as a healthy correction after a strong rally but
others believe may herald the peak of a "super cycle" that has been boosting the
    • The dollar was higher in Asian trading after upbeat U.S. economic growth
data, but was on track for a monthly loss against a basket of currencies as
investors warily watched progress of the U.S. tax reform legislation.
    • U.S. Treasury yields rose across most maturities on Wednesday bolstered by
upbeat remarks on the economy by Federal Reserve Chair Janet Yellen and data
showing stronger than expected U.S. economic growth for the third quarter.
    • Oil markets opened cautiously ahead of the outcome of an OPEC meeting in
Vienna later in the day, with members set to debate the path for an extension of
the group's supply-cut agreement.
    • Gold held near a one-week low hit in the previous session, as the dollar
firmed amid upbeat U.S. growth data and as a likely vote neared on U.S. tax
                    CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF  spot         64.35/64.38  November 29      -$133.49 mln  -$0.16 mln
 10-yr bond yields  7.10 pct     Month-to-date    $3.14 bln     -$178.50 mln
                                 Year-to-date     $8.79 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 = 64.35 Indian rupees)

 (Compiled by Shradha Singh in Bengaluru)
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