MORNING NEWS CALL

FACTORS TO WATCH

12:30 pm: Commerce Minister Suresh Prabhu, Oil Minister Dharmendra Pradhan and NITI Aayog CEO Amitabh Kant at IBM event in New Delhi.

2:00 pm: NITI Aayog Vice-Chairman Rajiv Kumar to speak on post-budget economic scenario in New Delhi.

LIVECHAT - FRONTIER MARKETS

Frontier markets outlook with Paul Domjan, Global Head of Research, Exotix Capital. To join the conversation at 1530 IST, click here

INDIA TOP NEWS

Retail inflation slightly eases in January

India's retail inflation slightly eased in January from a 17-month high in December but remained above the 4 percent medium-term target of the Reserve Bank of India for the third straight month.

RBI announces new bad-loan-resolution framework

India's central bank late on Monday tightened its rules around bank loan defaults, seeking to push more large loan defaulters toward bankruptcy courts and abolishing half a dozen existing loan-restructuring mechanisms, in its latest bid to accelerate resolution of the bad loans problem at Indian banks.

ArcelorMittal, Russian VTB-led group make bids for India's Essar Steel ArcelorMittal and a group led by Russia's VTB have made separate bids for India's Essar Steel, which is undergoing bankruptcy proceedings and faces claims of nearly $8 billion.

RCom calls bondholders' meet over asset-sale plan

Debt-laden Indian telecoms carrier Reliance Communications will hold a meeting of its bondholders on March 6 to seek approvals for asset-sale plans, the company said in a regulatory filing late on Monday.

India cuts stent prices by more than 7 percent India has cut prices of some stents by about 7.6 percent, a government body said on Monday, in the latest setback for the country's $5 billion medical device industry.

BOI reports third-quarter loss as bad loan provisions spike State-run Bank of India reported a third-quarter net loss on Monday as the lender set aside higher provisions for bad loans.

Tata to invest in Port Talbot steel plant post Thyssenkrupp merger- sources

Tata Steel will finance the repair of a blast furnace at Britain's largest steelworks in Port Talbot, Wales, extending its life by seven years and soothing concerns about its commitment to Europe's steel sector, four sources told Reuters.

REUTERS INDIA EDITION Wednesday, February 14, 2018

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MORNING NEWS CALL - INDIA EDITION February 14, 2018

Motherson Sumi Systems Q3 profit drops 12 percent, lags expectations

Auto parts maker Motherson Sumi Systems reported a 12 percent drop in quarterly net profit and missed expectations, hurt by higher expenses.

GLOBAL TOP STORIES

Japan posts longest growth streak since bubble economy

Robust consumer spending drove Japan's economy to eight straight quarters of growth in October-December, its longest continuous expansion since the 1980s bubble economy, and evidence that Prime Minister Shinzo Abe's campaign to restore growth after decades of stagnation is bearing fruit.

U.S. pushes motion to put Pakistan on global terrorist-financing watchlist The United States has put forward a motion to place Pakistan on a global terrorist-financing watchlist with an anti-money-laundering monitoring group, according to a senior Pakistani official.

Baidu earnings beat expectations as it gambles on AI, content Chinese tech giant Baidu Inc posted strong quarterly revenue growth on Tuesday, beating expectations, on a strong showing from its core search business and news feed services.

STATE OF THE MARKETS

The SGX Nifty Futures were trading at 10,548.50, trading up 0.79 percent from its previous close on Monday, February 12, as markets were closed for Mahashivratri on Tuesday, February 13. The rupee will likely open flat to higher against the dollar, tracking an overnight fall in the greenback and on improved domestic sentiment following the better-than-expected economic data. -NewsRise

Indian sovereign bonds are likely to trade higher in early session after the nation’s retail inflation cooled. The yield on the 7.17 percent bond maturing in 2028 is likely to trade in a 7.46 percent-7.51 percent band today. -NewsRise Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple, while investors focused on inflation data on Wednesday that could upset the market's fragile recovery - or clear the way for additional gains. Asian share markets turned mixed as investor nerves were strained ahead of a U.S. inflation report that could soothe, or inflame, fears of faster rate hikes globally. The dollar slid to a 15-month low against the yen, as investors remained on edge ahead of key U.S. inflation numbers later in the day, underscoring fragile risk sentiment following the recent shakeout in equity markets. U.S. long-dated Treasury yields slipped on Tuesday in quiet, rangebound trading, as investors looked to Wednesday's U.S. inflation report that could shed more light on the pace of future interest rate increases by the Federal Reserve. Oil prices were stable, supported by healthy economic growth and expectations that a weaker dollar could spur fuel demand. Gold prices rose for a third straight session to hit a one-week high, buoyed by a weaker dollar, while investors awaited U.S. inflation data for clues on the pace of future U.S. interest rate increases.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.25/64.28 February 12 -$126.67 mln $28.46 mln

10-yr bond yield 7.60 pct Month-to-date -$771.48 mln $648.97 mln

Year-to-date $1.27 bln $2.12 bln

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MORNING NEWS CALL - INDIA EDITION February 14, 2018

PICTURE OF THE DAY

(Compiled by Yoganand KN in Bengaluru) For questions or comments about this report, contact: reuters.marketwatch@thomsonreuters.com 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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A Mayilattam artist dressed as the Hindu God Subramanya waits backstage to perform during a tourism exposition in Bengaluru, February 13. REUTERS/Abhishek N. Chinnappa