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MORNING NEWS CALL
FACTORS TO WATCH
10:00 am: Trade Minister Suresh Prabhu, Transport Minister Nitin Gadkari, Oil Minister Dharmendra Pradhan,
Telecom Secretary Aruna Sundararajan, Boeing India President Pratyush Kumar, Bank of America President &
Country Head (India) Kaku Nakhate at annual general meeting of American Chamber of Commerce in India in New
Delhi.
2:45 pm: Yes Bank MD & CEO Rana Kapoor to announce quarterly results in Mumbai.
4:30 pm: Trade Minister Suresh Prabhu and DIPP Secretary Ramesh Abhishek at India Intellectual Property
Convention in New Delhi.
5:00 pm: Vice President Venkaiah Naidu and Health Minister J.P. Nadda at PGIMER Annual Convocation in New
Delhi.
5:00 pm: Axis Bank Deputy MD V. Srinivasan and CFO Jairam Sridharan to address media after quarterly results in
Mumbai.
TRADING INDIA FORUM- INDIA FIXED-INCOME, MACROS AND RBI
Rajeev Pawar, head of Balance Sheet and Investments at Edelweiss Financial Services shares, his views with us at
11:00 am IST. To join the Global Markets Forum, click here
LIVECHAT - COMMODITIES FOCUS
Jonathan Barratt, economist and CIO at Ayers Alliance and principal at Celsiuspro.com will be speaking at 09:30 am
IST. To join the Global Markets Forum, click here
INDIA TOP NEWS
Bharti Infratel, Indus merging to form $14.6 billion telecom tower giant Bharti Infratel has agreed to merge with Indus Towers, in a deal that creates the world's No. 2 telecom tower company
with an estimated equity value of $14.6 billion.
India shows jobs growth as more than 3 million join social security fund
More than three million workers joined India's state-run social security fund in six months through February, giving Prime
Minister Narendra Modi some ammunition to defend his record on creating jobs ahead of a general election due next
year.
Wipro sees weak first quarter revenue growth after clients go bust
India's third-biggest software services exporter Wipro on Wednesday forecast weak growth in revenue during the current
quarter after two clients went bankrupt and it lost business in the U.S.
Where's the money, RBI? Data shows India's old habits die hard
Having speeded up printing presses to refill banks' empty ATMs in some parts of the country, the Reserve Bank of India
released data on Wednesday showing that people were still hoarding cash as withdrawals outpaced spending.
UltraTech Cement Q4 profit falls 39 percent
UltraTech Cement,part of the Aditya Birla Group, posted a 38.5 percent fall in fourth-quarter profit on Wednesday, as
higher expenses weighed.
SoftBank to move ride-hailing stakes worth $20 billion to Vision Fund - FT
Japan's SoftBank plans to shift more than $20 billion of its investments in top ride-hailing companies including Uber, Ola,
Grab and Didi Chuxing into its Saudi-backed Vision technology fund, the Financial Times reported on Wednesday.
REUTERS INDIA EDITION Thursday, April 26, 2018
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MORNING NEWS CALL - INDIA EDITION April 26, 2018
Ride-hailing firm Jugnoo eyes Singapore as Uber drives off
Ride-hailing firm Jugnoo plans to enter the Singapore market next month, its chief executive said on Wednesday, joining
other companies eyeing the city state as Uber prepares to leave.
GLOBAL TOP STORIES
Facebook's rise in profits, users shows resilience after scandals
Facebook's shares rose on Wednesday after the social network reported a surprisingly strong 63 percent rise in profit
and an increase in users, with no sign that business was hurt by a scandal over the mishandling of personal data.
Samsung Elec flags mobile weakness after record Q1 profit
Samsung Electronics said weakness in the global smartphone market would slow earnings growth, as it reported record
quarterly profit thanks to strong demand for semiconductors used in servers.
U.S. probing Huawei for possible Iran sanctions violations -sources
U.S. prosecutors in New York have been investigating whether Chinese tech company Huawei violated U.S. sanctions
in relation to Iran, according to sources familiar with the situation. Since at least 2016, U.S. authorities have been
probing Huawei's alleged shipping of U.S.-origin products to Iran and other countries in violation of U.S. export and
sanctions laws, two of the sources said.
STATE OF THE MARKETS
The SGX Nifty nearest-month futures were trading at 10,549.50, down 0.2 percent from its previous close.-NewsRise
The Indian rupee is likely to edge lower against the dollar today as the U.S. currency, supported by rising Treasury
yields, has risen to its highest level since mid-January.-NewsRise
Indian government bonds will likely open lower ahead of a fresh supply of debt today, while higher U.S. Treasury
yields and falling rupee continue to weigh on sentiment. Yield on the benchmark 7.17 percent 2028 bond is likely to
trade in a 7.72 percent-7.78 percent band till the auction results today.-NewsRise
Wall Street limped into positive territory on Wednesday on optimism over a spate of upbeat earnings that was nearly
offset by jitters over rising U.S. bond yields and corporate costs.
Asian stocks rose as robust corporate earnings helped Wall Street quell concerns about the surge in U.S. bond yields,
while the dollar hovered near 3-1/2-month highs against a basket of currencies.
The benchmark U.S. Treasury 10-year yield edged above 3 percent on Wednesday as jitters about growing federal
borrowing spurred more selling in the U.S. government bonds, paving the path for it to visit levels not seen since July
2011.
Oil prices rose, supported by an expectation that the United States will re-impose sanctions against Iran, a decline in
output in Venezuela and ongoing strong demand.
Gold prices stayed close to five-week lows hit in the previous session, pressured by a stronger dollar, which hovered
near more than three-month highs, and a rise in U.S. Treasury yields.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 66.79/66.82 April 25 -$45.58 mln -$90.88 mln
10-yr bond yield 7.85 pct Month-to-date -$779.78 mln -$1.79 bln
Year-to-date $1.39 bln -$1.07 bln
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MORNING NEWS CALL - INDIA EDITION April 26, 2018
(Compiled by Priyanka Das in Bengaluru) For questions or comments about this report, contact: [email protected] For more information about our products: https://www.thomsonreuters.com/en/products-services.html Or send us a sales enquiry at: https://www.thomsonreuters.com/en/contact-us.html or call us on North America: +1 800 758 5555 To subscribe for the India Morning Newscall newsletter click here You may instruct us to remove you from Morning News Call by clicking on the link - https://forms.thomsonreuters.com/india-morning/Unsubscribe/
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PICTURE OF THE DAY
People use their mobile phones to take pictures of decorated elephants as they attend Thrissur Pooram festival which features a colourful procession of decorated elephants and drum concerts at a Hindu temple in Thrissur, India, April 25. REUTERS/Sivaram V
