January 31, 2018 / 3:38 AM / 21 days ago

Morning News Call - India, January 31

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    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.

    
    LIVE CHAT-LUXURY GOODS
    An outlook for the luxury goods market with Scilla Huang Sun, Portfolio
Manager, GAM at 1530 IST. To join the conversation, click on the link: here
    
    
    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.
    • 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 NEWS
    • After year of bitter feuds, Trump urges bipartisan cooperation
    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 Electronics 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.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 11,036.00, trading down 0.27 percent
from its previous close.
    • The Indian 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. 
    • 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.
    
    
    GLOBAL MARKETS
    • 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.
   
                   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
 
    
    For additional data:
    India govt bond market volumes                 
    Stock market reports                
    Non-deliverable forwards data              
    Corporate debt stories               [IN CORPD]
    Local market closing/intraday levels [IN SNAPSHOT]
    Monthly inflows                      [INFLOWS RTRS TABLE IN]
 

    ($1 = 63.6800 Indian rupees)
    
    
   

 (Compiled by Yoganand K N in Bengaluru)
  
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