MORNING NEWS CALL

FACTORS TO WATCH 08:30 am: Aurobindo Pharma post-earnings analyst conference call in Mumbai. 09:15 am: Mahindra Logistics lists on stock exchanges in Mumbai. 10:00 am: Prime Minister Economic Advisory Council meets in New Delhi. 10:30 am: Auto association body SIAM to brief details of October auto sales data in New Delhi. 11:00 am: Ashoka Buildcon Q2 post-earnings conference call in in Mumbai. 12:30 pm: State Bank of India Q2 post-earnings conference call in Mumbai. 01:00 pm: Bank of India Q2 post-earnings press conference in Mumbai. 01:45 pm: Allahabad Bank earnings press conference in Kolkata. 03:00 pm: Mahindra & Mahindra Q2 post-earnings press conference in Mumbai. 03:00 pm: Skill Development and Oil Minister Dharmendra Pradhan delivers keynote address at FICCI’s Private Security Industry Conclave 2017 in New Delhi. 04:30 pm: Federal cabinet likely to meet, agenda not known in New Delhi. 05:00 pm: RBI releases weekly forex reserves data in Mumbai. 05:30 pm: Government to release September Industrial output data in New Delhi. 06:00 pm: Hindustan Copper earnings briefing in Kolkata. LIVECHAT- QUIZ EAST The first of our Friday quizzes focuses on Asia and the week's top news. Tests your wits and googling speed at 11:00 am IST. To join the Global Markets Forum, click here. INDIA TOP NEWS Steel Authority of India posts 10th straight quaterly loss Steel Authority of India Ltd posted a narrower second-quarter loss on Thursday, the tenth straight loss in a row. HDFC Life's $1.3 billion Indian IPO nearly five times subscribed HDFC Standard Life Insurance Co. Ltd's initial public offering was subscribed 4.9 times on the last day of the sale on Thursday, in what was the fourth billion dollar-plus IPO in India this year. Tata Motors' Q2 profits boosted by rise in Jaguar Land Rover sales India's Tata Motors reported a sharp rise in second-quarter profits on Thursday, helped by higher sales of its Jaguar and Land Rover cars, but warned of challenges ahead for its flagship British subsidiary. India gold demand seen falling to lowest in 8 years in 2017 -WGC India's gold consumption is likely to drop to its lowest in eight years in 2017, hit by government moves to make bullion trading more transparent and by faltering demand from some rural areas, the World Gold Council (WGC) said on Thursday. Aurobindo Pharma Q2 profit rises 29 percent, beats estimates India's Aurobindo Pharma Ltd posted a better-than-expected 29 percent rise in quarterly profit on Thursday, helped by higher sales at its formulations business in the United States. Jindal Steel & Power Q2 loss narrows Jindal Steel and Power Ltd reported a smaller-than-expected quarterly loss, helped by higher revenue from its iron and steel business. Hindustan Petroleum Q2 profit more than doubles, but misses estimates State-owned oil refiner Hindustan Petroleum Corp Ltd's second-quarter net profit more than doubled, but fell short of analysts' estimates. Petronet LNG turns focus to poorly supplied east coast India's biggest gas importer Petronet LNG Ltd wants to build up its liquefied natural gas (LNG) regassification capacity in the east of the country where supply is limited, after focussing till now on the west, the CEO said on Thursday.

REUTERS INDIA EDITION Friday, November 10, 2017

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MORNING NEWS CALL - INDIA EDITION November 10, 2017

GLOBAL TOP STORIES Dueling Republican tax plans advance in U.S. Congress U.S. Senate Republicans unveiled a tax plan on Thursday that differed from the House of Representatives' version on several key fronts, including how they treat the corporate tax rate, the tax deduction for state and local taxes, and the estate tax. Toshiba considering $5.3 billion capital injection - source Toshiba Corp, desperate for cash to avoid a possible delisting, is considering raising about 600 billion yen by offering new shares in a third-party allotment, a person briefed on the matter said. Trump's CNN attacks may hobble legal case to block AT&T-Time Warner deal U.S. President Donald Trump's broadsides against cable network CNN may complicate the U.S. government's legal case if it decides to block AT&T's deal to buy media company Time Warner, according to legal experts.

STATE OF THE MARKETS The SGX Nifty Futures were trading at 10,322.00, trading down 0.5 percent from its previous close. Indian government bonds are expected to edge higher in early trade after the government announced a buyback of notes next week, raising hopes that such purchases will help offset the supply of fresh papers. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.90 percent-6.95 percent band. - NewsRise The Indian rupee will likely open lower against the dollar, as gains in crude oil prices dent sentiment for the local assets, even as the greenback fell overnight amid uncertainty over a potential delay in U.S. tax reforms.- NewsRise Wall Street stocks dropped on Thursday, weighed down by losses in Microsoft and other technology issues, as investors turned their attention to a U.S. Senate Republican plan that would delay expected corporate tax cuts. Asian shares slipped on uncertainty about U.S. tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives' version in several key areas, including a delay in the timing of a corporate tax cut. The dollar licked its wounds, on track for weekly losses after dropping on disappointment with a tax bill put forth by U.S. Senate Republicans that would delay expected corporate tax cuts. U.S. Treasury yields rose on Thursday, with 10-year yields bouncing from near three-week lows, due to this week's government and corporate debt supply which was partly offset by concerns about the passage of a federal tax plan. Oil markets were little changed, supported by ongoing supply cuts and strong demand, although the prospect of rising U.S. shale output capped prices around recent gains. Gold inched up, holding near a three-week high amid uncertainty over U.S. tax reforms, and was on track for its first weekly rise in a month.

PICTURE OF THE DAY

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.94/64.97 November 9 -- -$248.38 mln

10-yr bond yield 7.03pct Month-to-date $1.61 bln -$494.51 mln

Year-to-date $7.26bln $25.45bln

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MORNING NEWS CALL - INDIA EDITION November 10, 2017

A worker repairs power lines on a pole in Kochi, India, November 9, 2017. REUTERS/Sivaram

(Compiled by Nachiket Tekawade 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 You may instruct us to remove you from Morning News Call by clicking on the link - https://forms.thomsonreuters.com/MorningNewsCall/Unsubscribe/

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