MORNING NEWS CALL

FACTORS TO WATCH

9:30 am: Junior Aviation Minister Jayant Sinha, SpiceJet CFO Kiran Koteshwar and other aviation industry officials at CAPA event in Mumbai. 11:30 am: Manpasand Beverages post-earnings analyst conference call in Mumbai. 12:00 pm: Indian Renewable Energy Development Agency and Rewa Ultra Mega Solar to sign sub loan agreement in New Delhi. 12:30 pm: M&M Chief of Sales & Marketing at launch of its digital platform in Mumbai. 12:30 pm: Ford’s global preview of its Compact Utility Vehicle in New Delhi. 3:00 pm: Engineers India post-earnings analyst conference call in Mumbai. 4:00 pm: Dabur India post-earnings analyst conference call in Mumbai. 4:30 pm: Arvind post-earnings analyst conference call in Mumbai. 4:30 pm: Hindustan Construction post-earnings analyst conference call in Mumbai. 5:00 pm: ICICI Bank post-earnings conference call in Mumbai. 6:30 pm: Vedanta post-earnings analyst conference call in Mumbai.

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INDIA TOP NEWS

IOC Q3 profit beats estimates on higher inventory gains

Indian Oil Corp said its third-quarter profit nearly doubled, handily beating estimates, as the company booked higher

inventory gains due to a sharp rise in global oil prices.

Indian gold demand wanes as jewellers expect import tax cut in budget

Gold prices in India, the world's second-biggest user of the precious metal, were at discounts as jewellers were

postponing purchases on the expectation that the government will announce an import tax cut in its annual budget on

Thursday.

Walmart in talks to buy minority stake in Flipkart-report

U.S. retailer Wal-Mart Stores is in advanced talks to buy a minority stake in e-commerce firm Flipkart, Indian financial

daily the Economic Times reported on Tuesday.

Saudi Aramco considering expansion to India- Nikkei

Saudi Aramco, the state oil company of Saudi Arabia, is considering entering India as part of its Asian expansion, Nikkei

said on Tuesday, citing Aramco's CEO who said that plans for an Indian refinery are crystallising.

Airtel sees little value in acquiring Nigeria's 9mobile –sources

India's largest telecoms operator, Bharti Airtel does not see much value in buying debt-laden Nigerian rival 9mobile and

withdrew from submitting a firm bid before the deadline, two industry sources with knowledge of the deal told Reuters.

TVS Motor Q3 profit rises about 16 pct, misses estimates

TVS Motor Company reported about 16 percent rise in quarterly profit on Tuesday, helped by higher sales in the

motorcycles segment.

REUTERS INDIA EDITION Wednesday, January 31, 2018

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MORNING NEWS CALL - INDIA EDITION January 31, 2018

Ola eyes Australia market in tussle with global rival Uber

Indian ride-hailing company Ola announced plans on Tuesday to enter Australia, marking its first foray outside its home

market and intensifying its tussle with U.S. rival Uber Technologies.

Low-cost, long-haul flights from India to boost leisure travel – report The launch of low-cost, long-haul flights by Indian airlines will boost outbound leisure travel and open a multi-billion dollar opportunity for carriers, a report released showed.

GLOBAL TOP STORIES

After turbulent year, Trump makes plea for unity

President Donald Trump on Tuesday urged bitterly divided Republicans and Democrats to work toward compromises on

immigration and infrastructure after a bruising year of partisan battles that centered on Trump's leadership.

China January factory growth dips to 8-month low as pollution war bites

Growth in China's manufacturing sector slowed more than expected in January to an 8-month low in the face of a

cooling property market and tighter pollution rules that have curtailed factory output.

Samsung Elec unveils stock split, record profit as chips sizzle

Samsung Electronics said it expects demand for memory chips to remain strong in 2018, as it reported record annual profit driven by a so-called memory chip "super-cycle" and announced a 50:1 stock split.

STATE OF THE MARKETS

The SGX Nifty Futures were trading at 11,036.00, trading down 0.27 percent from its previous close. -NewsRise The rupee will likely open lower against the dollar, weighed down by a global sell-off in equities, which may also impact the local shares today, dealers said. -NewsRise Indian government bonds are likely to gain in early session as crude oil prices continue to fall while investors await tomorrow’s federal budget for further cues. The yield on the 7.17 percent bond maturing in 2028 is likely to trade in a 7.41 percent-7.45 percent band today. -NewsRise U.S. stocks fell for a second straight day on Tuesday, with the Dow registering its biggest two-day drop since September 2016, pressured by healthcare stocks and rising bond yields. Asia stocks eased, pulling further back from record highs, as the recent rise in global bond yields weighed on equities. The dollar held steady against a basket of major rivals, as investors awaited the U.S. Federal Reserve's policy decision and U.S. President Donald Trump's State of the Union address. U.S. Treasury long-dated yields rose on Tuesday ahead of a slew of events this week such as a Federal Reserve monetary policy decision which could help shed more light on the outlook for interest rates this year. Oil prices fell for a third day after data from an industry body showed crude stocks rose more than expected last week, while a selloff in other commodities, stocks and bonds added to investors' bearish mood. Gold marked time early amid a firm dollar and rising bond yields as markets waited for U.S. President Donald Trump's annual State of the Union address and the outcome of the Federal Reserve's two-day meeting.

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MORNING NEWS CALL - INDIA EDITION January 31, 2018

PICTURE OF THE DAY

Members of the Indian military band take part in the Beating the Retreat ceremony in New Delhi, January 29. REUTERS/Cathal McNaughton

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CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 63.71/63.74 January 30 $16.49 mln $153.93 mln

10-yr bond yield 7.54 pct Month-to-date $2.08 bln $1.43 bln

Year-to-date $2.08 bln $1.43 bln