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MORNING NEWS CALL
FACTORS TO WATCH
04:30 pm: Junior Aviation Minister Jayant Sinha to address press conference on government's investment plan for AAI
airports in New Delhi.
LIVECHAT - U.S.- IRAN NUCLEAR DEAL
As the May 12 deadline for U.S. President Donald Trump to decide on restoring economic sanctions on Tehran looms, we discuss the issues at hand with Dr. James Walsh, senior research associate at the Massachusetts Institute of Technology’s Security Studies Program at 09:30 am IST. To join the Global Markets Forum, click here
TRADING INDIA FORUM- INDIA EQUITY MARKETS
Sunil Singhania, Ex-Global Head of Equities, Reliance Capital and Founder at Abakkus Asset Manager LLP, shares his
views with us at 11:00 am IST. To join the Global Markets Forum,click here
INDIA TOP NEWS
L&T seals $2.1 billion deal to sell electrical unit to Schneider Larsen & Toubro has agreed to sell its electrical and automation business for $2.1 billion to Schneider Electric,
partnering with Temasek, in the biggest M&A deal announced in the Indian market this year.
EXCLUSIVE-India rejects U.S. request on price caps on medical devices
India has told the United States it won't abstain from capping prices for more medical devices, regardless of pressure to
rethink its stance after price controls on heart stents and knee implants spoilt the market for some U.S. firms, sources
familiar with the matter said.
India extends deadline to receive initial bids for Air India
India has extended the deadline to receive initial bids for its stake in state-run carrier Air India to May 31 from May 14
earlier, according to a notification issued by the Ministry of Civil Aviation on Tuesday.
Kotak Mahindra Bank Q4 profit up 15 percent on lending growth
Kotak Mahindra Bank reported a 15 percent rise in fourth-quarter net profit on higher interest and fee incomes and as its
bad loans fell.
Two suitors for India's Fortis raise bids by Tuesday deadline
Cash-strapped Indian hospital operator Fortis Healthcare said on Tuesday that two of its five suitors had boosted their
bids to invest in the company as of a deadline for binding offers on Tuesday.
India to allow foreigners to invest in T-bills
RBI said it will allow foreign portfolio investors to invest in treasury bills issued by the federal government, in its latest
move to ease foreign investment rules.
Kuwait Petroleum eyes stake in India's Bina refinery
Kuwait Petroleum International is in talks to buy 24 percent of the Bina joint venture refinery in central India, two Indian
and two foreign sources said, as the Middle East nation wants to increase its South Asian market share.
Hindustan Zinc March-qtr profit falls 18 percent
Hindustan Zinc, a unit of Vedanta, on Monday posted an 18 percent fall in fourth-quarter net profit, hurt by lower zinc
sales.
REUTERS INDIA EDITION Wednesday, May 2, 2018
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MORNING NEWS CALL - INDIA EDITION May 2, 2018
GLOBAL TOP STORIES
Apple's $100 billion stock buyback overshadows iPhone
Apple on Tuesday reported resilient iPhone sales in the face of waning global demand and promised $100 billion in
additional stock buybacks, reassuring investors that its decade-old smartphone invention had life in it yet.
Japan April services activity grows fastest in 6 mths-PMI
Activity in Japan's services sector expanded at the fastest pace in six months in April as new orders picked up, a private
survey showed on Wednesday, suggesting the economy got off to a strong start in the second quarter.
Pushing to bury Iran deal, Israel says no one wants war with Tehran
Israel said on Tuesday it does not seek war with Iran and suggested U.S. President Donald Trump backed Israel's latest
attempt to kill the 2015 Iran nuclear deal by disclosing purported evidence of past Iranian nuclear arms work.
STATE OF THE MARKETS
The SGX Nifty nearest-month futures were trading at 10,749.50, down 0.1 percent from its previous close.-NewsRise
The Indian rupee is likely to open marginally lower as a jump in the dollar index to four-month highs overshadows the
central bank move to ease rules for foreign investment in the nation’s bonds.-NewsRise
Indian government bonds are expected to rise today as the Reserve Bank of India has allowed foreign investment in
government securities with a residual maturity of below three years.The yield on the 7.17 percent bond maturing in 2028
is likely to trade in 7.72 percent- 7.76 percent band today.-NewsRise
The S&P 500 edged higher on Tuesday after comments from a Trump administration official on trade with China and the
Mexican economy minister on the renegotiation of the North American Free Trade Agreement provided cause for
optimism.
Asian equities held steady, while the dollar traded near a four-month high as investors await the Federal Reserve's
upcoming policy statement for clues on the future pace of U.S. monetary tightening.
U.S. Treasury yields rose on Tuesday, with prices pressured ahead of a quarterly refunding announcement that is
expected to show more supply as the government seeks to finance its massive tax cut program and increased fiscal
spending plan.
Oil prices were stable, supported by concerns that the United States may re-impose sanctions on major exporter Iran,
although soaring U.S. supplies capped gains.
Gold prices edged up, having fallen almost one percent in the previous session on the back of a stronger U.S. dollar to
hit their lowest level this year.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 66.37/66.40 April 30 - $3.75 mln
10-yr bond yield - Month-to-date - -$2.38 bln
Year-to-date - -$1.66 bln
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MORNING NEWS CALL - INDIA EDITION May 2, 2018
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PICTURE OF THE DAY
Devotees light candles at a Buddhist temple on the occasion of Buddha Purnima, also known as Vesak Day, in Chan-digarh, April 30. REUTERS/Ajay Verma
