MORNING NEWS CALL

FACTORS TO WATCH 9:00 am: National Company Law Tribunal President M.M. Kumar at a conference in New Delhi. 9:15 am: Government to sell up to 5 percent stake in NLC via offer for sale on exchanges starting today in Mumbai. 9:15 am: General Insurance Corp. lists on exchanges in Mumbai. 10:00 am: Reliance Nippon Life Asset Management IPO opens for subscriptions in Mumbai. 10:00 am: Junior Defense Minister Subhash Bhamre at an event in New Delhi. 11:00 am: Oil Minister Dharmendra Pradhan at Clean Cooking Forum in New Delhi. 11:00 am: Chief Economic Adviser to speak at an event in New Delhi. 2:00 pm: Oil Minister Dharmendra Pradhan at MoU documents exchange between Oil PSUs and innovators in New Delhi. 2:00 pm: 9th Realty Plus Awards in Gurugram. 3:30 pm: Raymond post-earnings conference call in Mumbai. 3:45 pm: Kotak Mahindra Bank Joint MD Dipak Gupta and CFO Jaimin Bhatt at 2Q results briefing in Mumbai. 4:30 pm: RBL Bank analyst conference call in Mumbai. LIVECHAT - CHINA PARTY CONGRESS China's twice-a-decade Party Congress will conclude with the announcement of new leaders in the powerful Politburo Standing Committee. Yukon Huang, senior fellow of Carnegie Asia Program at Carnegie Endowment For International Peace, will discuss the implications of the leadership selection at 7:30 am IST on Thursday. To join the conversation, click here INDIA TOP NEWS India embarks on $32.4 billion state bank recapitalisation to boost economy India's cabinet approved a $32.43 billion plan on Tuesday to recapitalise its state banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth. Infosys posts strong profit, cuts full-year revenue forecast Indian software services company Infosys Ltd reported a larger-than-expected quarterly profit but trimmed its revenue forecast for the year, sending its U.S.-listed shares tumbling as much as 5 percent in early trade on Tuesday. New India Assurance sets price range for up to $1.5 billion IPO - sources New India Assurance Co Ltd is targeting an IPO of up to $1.5 billion, as sources who have direct knowledge of the matter told Reuters on Tuesday the state-run company had set a price band of 770 rupees to 800 rupees a share for the offer. HDFC Bank posts record profit, bad loans stable HDFC Bank Ltd, India's second-biggest lender by assets, made a record quarterly profit from higher interest and fee income and said retail and wholesale lending was growing. Asian Paints Q2 profit up 21 percent India's Asian Paints Ltd posted a 21 percent rise in second-quarter profit on Tuesday, beating estimates. Adidas-owned Reebok cleared to open own stores in India India on Tuesday approved Adidas AG-owned Reebok India's proposal to start single-brand retail outlets across the country, paving the way for the shoes and apparel maker to sell directly to consumers. Ambuja Cements Q3 profit up 10 percent India's Ambuja Cements Ltd reported an about 10 percent increase in quarterly profit on Tuesday, helped by higher cement sales volume.

REUTERS INDIA EDITION Wednesday, October 25, 2017

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MORNING NEWS CALL - INDIA EDITION October 25, 2017

Logos India to invest up to $800 million in Indian logistics Logos India, a joint venture between Macquarie-backed Logos Property Group and Singapore's Assetz Property Group, will invest up to $800 million in India's logistics sector, the company said in a statement on Tuesday. GLOBAL TOP STORIES Two Republican U.S. senators blast Trump as party feud deepens Tensions among Republicans about President Donald Trump boiled over on Tuesday as two senators accused Trump of debasing U.S. politics and the country's standing abroad, a rebellion that could portend trouble for his legislative agenda. China to unveil new leadership line-up as Xi cements power China's ruling Communist Party reveals its new leadership line-up today when President Xi Jinping introduces his Politburo Standing Committee, culminating a week-long party congress. Trump consults U.S. Republican senators on Fed chief candidates U.S. President Donald Trump used a luncheon with Senate Republicans on Tuesday to get their views on who he should tap to be the next leader of the Federal Reserve, according to senators who attended.

STATE OF THE MARKETS The SGX Nifty Futures were at 10,300.50, trading up 0.75 percent from its previous close. Indian sovereign bonds are likely to open lower amid concerns of additional supply of notes after the government announced a bank recapitalization plan that includes bank recap bonds. The yield on the benchmark 6.79 percent bond maturing in 2027 will likely trade in the range of 6.80 percent - 6.85 percent band. - NewsRise The Indian rupee will likely edge lower against the dollar in early trade, tracking most Asian peers, as the greenback rallied amid speculation that hawkish Stanford University economist John Taylor was a favorite to be the next Federal Reserve head. - NewsRise The Dow rallied on Tuesday, registering its biggest daily percentage gain in more than a month, as stronger-than-expected results and forecasts from companies including 3M and Caterpillar fueled optimism about economic strength. Asian shares trod water in early trade, while U.S. Treasury yields and the dollar got a lift following a report Republican senators were leaning towards John Taylor to be the next Federal Reserve chief. The dollar traded within sight of a three-month high against the yen, underpinned by reports of Republican senators' support for John Taylor to become the next Federal Reserve chief. U.S. benchmark 10-year Treasury note yields rose to their highest in more than five months on Tuesday, in line with gains in the European bond market, with a strong U.S. equity performance also adding to overall risk appetite. Oil prices were largely steady in early Asian trade, hovering near a four-week high hit a day earlier after top exporter Saudi Arabia said it was determined to end a supply glut. Gold prices slipped, pressured by a firmer dollar amid speculation over who will be the next U.S. Federal Reserve chief.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 65.01/65.04 October 24 -$200.68 mln $201.51 mln

10-yr bond yield 6.96 pct Month-to-date -$809.33 mln $2.12 bln

Year-to-date $4.54 bln $25.40 bln

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MORNING NEWS CALL - INDIA EDITION October 25, 2017

PICTURE OF THE DAY

The Royal Crematorium site for the late King Bhumibol Adulyadej is seen near the Grand Palace in Bangkok, Thailand, October 24. REUTERS/Soe Zeya Tun

(Compiled by Samrhitha Arunasalam 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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