February 20, 2018 / 3:15 AM / in 8 months

Morning News Call - India, February 20

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    FACTORS TO WATCH
    9:00 am: Reliance Retail MD V. Subramaniam, Future Group CEO Kishore Biyani,
Arvind ED Kulin Lalbhai, Shoppers Stop MD Govind Shrikhande, Future Retail Joint
MD Rakesh Biyani and other retail Industry officials at Retail Summit in Mumbai.
    10:00 am: Power Minister R.K. Singh to address International R&D Conclave in
New Delhi. 
    10:00 am: BSE to launch ‘Corporate Governance Scorecard’ report in Mumbai.
    10:00 am: Magnetic Maharashtra Summit in Mumbai. 
    10:30 am: Federal Cabinet to meet in New Delhi.
    
    LIVECHAT - REAL ESTATE OUTLOOK
    An outlook on the real estate sector for 2018 with Emmanuel Lumineau, CEO of
BrickVest. To join the conversation at 1530 IST, click on the link: here
    
    
    INDIA TOP NEWS
    • India police arrest 3 more Punjab National Bank staff in fraud case 
    India's federal police arrested three more employees of Punjab National Bank
in a $1.77 billion fraud case, an official with Central Bureau of Investigation
said on Monday.
    • ANALYSIS-India's high-flying graphite electrode firms face curbs
    Indian manufacturers of graphite electrodes used in electric arc furnaces
are booming on the back of China's pollution crackdown, but soaring prices have
set the companies on a collision course with government and steelmakers.

    • India bank hack "similar" to $81 million Bangladesh central bank heist
    Hackers who tried to steal nearly $2 million from India's City Union Bank
this month used tactics similar to those employed in the unsolved cyber heist of
$81 million from Bangladesh's central bank in 2016, City's CEO said on
Monday.
    • Singapore Exchange to launch new Indian derivatives before NSE deal ends 
    Singapore Exchange Ltd said on Monday it will launch successor products to
its flagship Indian equity index derivatives before the bourse's licence
agreement with the National Stock Exchange of India expires in August
2018.
    • Castlelake in talks to buy Brazil mill from Shree Renuka -sources
    U.S.-based private equity firm Castlelake LP is in talks to take over a
sugar and ethanol plant in Brazil owned by Indian company Shree Renuka Sugars
Ltd, according to two sources familiar with the negotiations. 
    • INTERVIEW-Vedanta seeks to expand zinc output after price rally 
    Vedanta may accelerate expansion of its African zinc operations to take
advantage of prices that have reached their highest levels in a decade because
of a shortfall following years of under-investment, its international zinc head
said.
    • Indian police register case in Bank of Baroda loan scam
    India's federal police said on Monday it has registered a case against pen
maker Rotomac Global and officials of various banks in connection with an
alleged 29.19 billion rupees loan scam.
    
    
    GLOBAL TOP NEWS
    • Trump backs effort to improve gun background checks
    The White House said on Monday that U.S. President Donald Trump supports
efforts to improve federal background checks for gun purchases, days after a
shooting at a Florida school killed 17 people.
    • Head bowed, Florida shooting suspect returns to court for hearing
    A former student accused of last week's deadly shooting at a Florida high
school returned to court for one of two hearings on Monday in a case that has
galvanized advocates of stricter gun control, including many of the rampage
survivors.
    • Over half of Japan firms do not plan base pay rise this year
    More than half of Japan's companies do not plan to raise base pay in annual
wage talks in coming months, a set back for the prime minister and the country's
main business lobby which has called for wage rises of 3 percent to fuel an
economic revival.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,314.50, down 0.54 pct from its
previous close.
    • The Indian rupee will likely open lower against the dollar, tracking
weakness across Asian stock markets, which could spill over to the domestic
equities as well. 
    • Indian sovereign bonds are likely to edge lower ahead of a supply of debt
papers through a state auction, traders said.
    
    
    GLOBAL MARKETS
    • Asian stocks slipped, their recent recovery stalling after European
equities broke a winning streak, while the dollar edged up to pull further away
from three-year lows.
    • Oil markets were split, with U.S. crude was pushed up by reduced flows
from Canada while international Brent prices eased.
    • Gold prices slid for a third straight session as the dollar rebounded from
over three-year lows, while investors waited for the minutes of the latest
Federal Reserve meeting for clues on the outlook for U.S. interest rates.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         63.89/63.92  February 19      -$139.32 mln  -
 10-yr bond yield  7.6 pct      Month-to-date    -             -
                                Year-to-date     -             -
    
    
    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 = 64.2400 Indian rupees)
    

 (Compiled by Erum Khaled in Bengaluru)
  
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