MORNING NEWS CALL

FACTORS TO WATCH 10:45 am: Transport Minister Nitin Gadkari, IL&FS Transportation Networks MD K. Ramchand, NITI Aayog Advisor Anil Srivastav, Mahindra Electric Mobility CEO Mahesh Babu at Smart Mobility Conference in New Delhi. 11:00 am: Minister of State for Space and Atomic Energy Jitendra Singh, Bharat Electronics CMD M. V. Gowtama, Larsen & Toubro Product and Technology Vice-President Arun Ramachandani at Indian Space Programme in New Delhi. LIVECHAT - ZIMBABWE FOCUS Independent geo-strategic analyst and Geopolitical Monitor contributor Neil Thompson joins us at 12:30 pm IST, to discuss the political fate of Zimbabwe after the country's military seized power last week saying it was holding President Robert Mugabe and his family safe while targeting "criminals" in the entourage of the man whohas ruled the nation since independence 37 years ago. To join the Global Markets Forum, click here.

INDIA TOP NEWS Indian bond market euphoria seen short-lived as mood bearish prevails Bond market euphoria over an unexpected India sovereign rating upgrade is expected to fizzle out, as concern over rising inflation, hawkish central bank rhetoric and fiscal discipline resurfaces. HDFC Life shares buck trend, soar on debut after $1.3 billion IPO HDFC Standard Life Insurance Co's shares soared by more than a fifth in their trading debut on Friday after a $1.3 billion initial public offering, bucking a trend of tepid market debuts by Indian insurers due to worries over their valuations. NHPC could bid for Nepal's $2.5 billion power project pulled from China Indian power company NHPC Ltd could bid for a $2.5 billion hyrdropower project in Nepal, its chairman told Reuters, after Kathmandu cancelled a deal with China Gezhouba Group Corp. Indian state oil firms betting on natural gas as next big thing India's state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi's goal of making the fuel a bigger part of the country's energy mix. SEBI to investigate possible leaks of company earnings The Securities and Exchange Board of India will investigate possible leaks of company earnings in social media chatrooms, its chief Ajay Tyagi said on Friday, following a Reuters report this week that revealed prescient messages being posted in private groups. L&T wins $1.3 billion construction contract - statement India's top engineering and construction company Larsen & Toubro Ltd has secured a contract to build a $1.3 billion Mumbai Trans Harbour Link, the company said in a statement, in a big boost for the firm. India raises import tax on edible oils to highest in a decade India has raised import tax on edible oil to the highest level in more than a decade, the government said in an order, as

REUTERS INDIA EDITION Monday, November 20, 2017

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MORNING NEWS CALL - INDIA EDITION November 20, 2017

the world's biggest importer of edible oils tries to support its farmers. Aircel delays debt servicing, says ratings agency Indian mobile carrier Aircel Ltd has delayed servicing its debt obligations, a ratings agency said, adding to the woes of the country's telecoms sector that has been rattled by a price war and high debt levels. GLOBAL TOP STORIES President Mugabe stuns Zimbabwe by defying pressure to resign President Robert Mugabe stunned Zimbabwe on Sunday by making no mention of resignation in a television address, defying his own ZANU-PF party, which had sacked him hours earlier, and hundreds of thousands of protesters who had already hailed his downfall. Toshiba shares drop after plan to issue $5.4 billion in new shares Shares of Toshiba Corp fell, a day after the troubled conglomerate said it would raise 600 billion yen from a sale of new shares in a key step that would allow it to stay publicly traded. Alibaba goes offline with $2.9 billion stake in China's top grocer Internet giant Alibaba Group Holding Ltd said it would invest HK$22.4 billion for a major stake in China's top hypermart operator, Sun Art Retail Group Ltd, part of a wider push into offline retail. STATE OF THE MARKETS The SGX Nifty Futures were trading at 10,280.50, trading down 0.2 percent from its previous close. Indian government bonds are likely to rise in early trade after the Reserve Bank of India scrapped an open market sale of bonds scheduled for this week. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 7.01 percent-7.06 percent band. - NewsRise The Indian rupee will likely open little changed against the dollar, in line with most Asian currencies, as German Chancellor Angela Merkel's failed attempt to form a three-way coalition government increased Eurozone political concerns, weighing on euro and lifting the greenback.- NewsRise Wall Street ended the week on a sour note on Friday, with major indexes slipping modestly as investors weighed the fate of the Republicans' tax overhaul plan. Asian shares started the week on the back foot, pressured by a retreat on Wall Street amid tax reform uncertainty while the euro skidded after German coalition talks hit an impasse. The euro hit a two-month low against the yen, as German Chancellor Angela Merkel's efforts to form a three-way coalition government failed, raising concerns over political uncertainty in the euro zone's largest economy. U.S. Treasury yields edged lower on Friday, in line with weakness on Wall Street and declines in German 10-year bond yields, as the yield curve continued to flatten following strong U.S. housing starts data for October. Oil markets were tepid as traders were reluctant to take on big new positions ahead of an OPEC meeting at the end of the month, when the producer club is expected to decide whether to continue output cuts aimed at propping up prices. Gold prices dipped, weighed down by a stronger U.S. dollar, but held close to a one-month high hit in the previous session.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.94/64.97 November 17 $196.43 mln -$97.06 mln

10-yr bond yield -- Month-to-date $2.21 bln -$426.47 mln

Year-to-date $7.86 bln $25.25 bln

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MORNING NEWS CALL - INDIA EDITION November 20, 2017

PICTURE OF THE DAY

A mahout guards the elephants during the annual Vrischikolsavam festival, which features a colourful procession of decorated elephants along with drum concerts, at a temple in Kochi, India, November 18. REUTERS/Sivaram V

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