MORNING NEWS CALL

FACTORS TO WATCH 10:30 am: Railways Minister Suresh Prabhu, Telecom Minister Manoj Sinha at an event in New Delhi. 11:00 am: Interim DG of International Solar Alliance Upendra Tripathy to brief on Initiatives/Schemes/ Activities undertaken by ISA in New Delhi. 3:00 pm: Petroleum Minister and Power Minister at signing of pact between EESL and Oil OMCs for energy efficient products distribution through petrol pumps in New Delhi. 5:30 pm: Bank of Baroda earnings meet in Mumbai. LIVECHAT - VENEZUELA POLITICAL CRISIS Professor Rodrigo Olivares-Caminal of Queen Mary University joins the forum with insights into the ongoing political crisis in Venezuela and its implications in the region and for financial markets at 2:30 pm. To join the conversation, click here INDIA TOP NEWS India's drugmakers need more time to meet international standards - industry group India's big drugmakers will need at least five more years to improve their manufacturing standards and data reliability to a level demanded by international regulators, said a senior industry official. Hindustan Unilever profit up 6.2 percent, beats estimates Hindustan Unilever Ltd, maker of products ranging from Lakmé cosmetics to BRU coffee, reported a 6.2 percent rise in quarterly profit, helped by strong sales of its Pears and Dove products. JSW Steel says quarterly profit triples as prices rebound JSW Steel Ltd, India's biggest steelmaker by capacity, said its fourth-quarter profit more than tripled, helped by higher steel prices and output and government support for local mills. Tata pension deal raises questions for Thyssenkrupp merger A Tata Steel deal to separate its 15 billion-pound UK pension scheme still leaves many questions unanswered for a potential merger with Thyssenkrupp's European steel operations, a source close to Thyssenkrupp said. Many nations pin climate hopes on China, India as hopes for Trump fade Many countries are pinning their hopes on China and India to lead efforts to slow climate change amid a growing sense of resignation that U.S. President Donald Trump will either withdraw from a global pact or stay and play a minimal role. Warburg Pincus sells $275 million stake in India's Capital First An affiliate of private equity firm Warburg Pincus sold a 25 percent stake in Indian non-bank lender Capital First Ltd for 17.67 billion rupees ($275.4 million) in stock market transactions on Wednesday. Indian online home-rental firm NestAway in talks to raise funds NestAway Technologies Pvt Ltd, an Indian online home-rental startup funded partly by U.S. hedge fund Tiger Global, is in talks to raise north of $40 million, the company's Chief Executive told Reuters. INTERVIEW-Canada lentil exporter AGT says expects India trade snag solution Trade risks that sprang up this year in India and Pakistan, key markets for the lentils that Canada's AGT Food and Ingredients Inc sells, look likely to be resolved soon, Chief Executive Murad Al-Katib said on Wednesday, but added the company is maintaining a cautious approach to sales there for now. GLOBAL TOP STORIES Former FBI chief Mueller appointed to probe Trump-Russia ties The U.S. Justice Department on Wednesday named former FBI Director Robert Mueller as special counsel to investigate alleged Russian interference in the 2016 U.S. election and possible collusion between President Donald Trump's campaign and Moscow.

REUTERS INDIA EDITION Thursday, May 18, 2017

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MORNING NEWS CALL - INDIA EDITION May 18, 2017

Japan's economy expands at fastest pace in a year in Jan-March Japan's economy grew at the fastest pace in a year in the first quarter to mark the longest period of expansion in a decade, heightening prospects that robust overseas demand will underpin a steady recovery. EXCLUSIVE-Australian billionaire uses indigenous land laws to keep prospectors off farm Mining magnate Andrew Forrest has used laws designed to protect indigenous land rights to stop prospectors searching for minerals on his West Australian cattle farms, angering both traditional Aboriginal landowners and mining community members. STATE OF THE MARKETS The SGX Nifty Futures were trading at 9,478.50, down 0.6 pct from its previous close. The Indian rupee will likely open lower against the dollar, tracking its Asian peers, as risk sentiment suffered after U.S. President Donald Trump’s reported interference in a federal investigation cast doubt over his ability to push through economic reforms. -NewsRise Indian government bonds will likely edge higher tracking the safe-haven U.S. Treasuries, as political wrangling in Washington following reports that President Donald Trump sought to influence a federal probe cast doubts over the future of his pro-growth policies.The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.81 pct-6.87 pct band today. -NewsRise The S&P 500 and the Dow notched their biggest one-day fall since Sept. 9 as investor hopes for tax cuts and other pro-business policies faded after reports that U.S. President Donald Trump tried to interfere with a federal investigation set off alarm bells on Wall Street. Asian stocks fell and the dollar was stuck near six-month lows against a basket of currencies as uncertainty mounted over U.S. President Donald Trump's future following reports that he tried to interfere with a federal investigation. The dollar wallowed near six-month lows against a basket of major currencies as the U.S. political crisis appeared to deepen, and likely to delay any efforts by President Donald Trump to carry out his economic stimulus plans. U.S. Treasury yields were on track on Wednesday for their biggest daily percent drop since July as concerns grew that allegations against U.S. President Donald Trump would delay his efforts to cut taxes and increase infrastructure spending. Oil prices dipped, weighed down by plentiful supply despite ongoing efforts led by OPEC to tighten the market by cutting production. Gold prices held steady after jumping about 2 percent the session before, buoyed by political uncertainty in the United States and tempered expectations for an aggressive string of U.S. interest rate hikes.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.08/64.11 May 17 -$114.00 mln $251.91 mln

10-yr bond yield 7.15 Month-to-date $582.28 mln $2.22 bln

Year-to-date $7.02 bln $11.61 bln

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MORNING NEWS CALL - INDIA EDITION May 18, 2017

PICTURE OF THE DAY

A vendor takes a nap at his shop on a hot summer day at a wholesale fruit market in Kolkata, May 17. REUTERS/Rupak De Chowdhuri

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