To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 11:30 am: Piaggio to launch new small commercial vehicle in Mumbai. 12:00 pm: Government to release May wholesale inflation data in New Delhi. 2:00 pm: NASSCOM Chairman Ganesh Natarajan to speak at an event in Mumbai. 7:30 pm: Oil Minister Dharmendra Pradhan at JV pact signing ceremony between state-run oil marketing companies, to build refinery-cum-petrochemicals project on West coast, in New Delhi. GMF: LIVECHAT - CHARTING FX Take a look at the FX charts with Reuters technical analyst Martin Miller at 3:30 pm IST. To join the conversation, click on the link: here INDIA TOP NEWS • India to direct banks to start bankruptcy proceedings against 12 defaulters India's central bank said on Tuesday it has identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them to start unclogging the $150 billion in bad debt plaguing Asia's third-largest economy. • Co-owner of Formula One team Force India could face further charges, UK court told Vijay Mallya, the co-owner of Formula One team Force India, could face further charges and a second request to extradite him from Britain to India, a London court heard on Tuesday. • INTERVIEW-Pakistan eyes 2018 start for China-funded mega dam opposed by India Pakistan expects China to fund a long-delayed Indus river mega dam project in Gilgit-Baltistan, part of disputed Kashmir, with work beginning next year, Planning Minister Ahsan Iqbal said in an interview. GLOBAL TOP NEWS • U.S. attorney general dodges Trump questions, angering Democrats U.S. Attorney General Jeff Sessions on Tuesday denounced as a "detestable lie" the idea he colluded with Russian meddling in the 2016 presidential election, and he clashed with Democratic lawmakers over his refusal to detail his conversations with President Donald Trump. • High-level U.S. visit leads North Korea to free student in coma Otto Warmbier, an American university student held prisoner in North Korea for 17 months and said by his family to be in a coma, has been medically evacuated from the reclusive country after a rare visit there from a high-level U.S. official. • U.S. weighs restricting Chinese investment in artificial intelligence The United States appears poised to heighten scrutiny of Chinese investment in Silicon Valley to better shield sensitive technologies seen as vital to U.S. national security, current and former U.S. officials tell Reuters. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,617.00, up 0.02 percent from previous close. • The Indian rupee will likely open lower against the dollar, as investors await clues on the Federal Reserve’s future policy trajectory after a near-certain rate increase later today. • Indian government bonds will likely open steady and trade in a narrow band, as investors may defer purchases ahead of an expected interest rate increase by the U.S. Federal Reserve later today. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.47 percent-6.52 percent band today GLOBAL MARKETS • Wall Street gained on Tuesday, with the S&P 500, Dow industrials and Russell 2000 setting record closing highs, as technology stocks bounced back and investors positioned for an expected Federal Reserve interest rate hike. • Asian shares turned mixed as investors everywhere awaited clarity on the Federal Reserve's future path for U.S. policy after a likely rate rise later in the day. • The dollar eased with investors looking past an expected U.S. rate hike later in the day for clues on Federal Reserve policy for the rest of the year. • Short-dated U.S. Treasury yields briefly hit multi-week highs on Tuesday after new data showed rising U.S. services prices, but the market was barely changed after a strong 30-year debt auction ahead of Wednesday's Federal Reserve decision on interest rates. • Oil prices fell by one percent after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back. • Gold crept up as the market waited for the end of a two-day U.S. Federal Reserve meeting, with the central bank expected to hike interest rates and give indications on its monetary policy for the rest of the year. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.42/64.45 June 13 -$48.50 mln $208.61 mln 10-yr bond yield 6.83 Month-to-date -$232.21 mln $3.15 bln Year-to-date $7.75 bln $16.59 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 = 64.33 Indian rupees) (Compiled by Pathikrit Bandyopadhyay in Bengaluru)
REFILE-India's Infosys says reassessing long-term goals due to tougher market
Bengaluru, June 24 Infosys Ltd, India's second-biggest software services exporter, is re-evaluating its long-term targets because tougher market conditions have made them appear "daunting", the company's chairman said on Saturday.
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