MORNING NEWS CALL

FACTORS TO WATCH 9:30 am: UltraTech Cement earnings call in Mumbai. 10:00 am: Central Board of Excise and Customs chairperson Vanaja N Sarna and Goods and Services Tax Network officials to be present at an event in New Delhi. 11:00 am: Monsoon session of the Parliament continues in New Delhi. 11:00 am: Aviation Minister Ashok Gajapathi Raju to speak at Air Cargo Summit in New Delhi. 2:30 pm: Oil Minister Dharmendra Pradhan to be present at an event in New Delhi. 2:30 pm: New India Assurance CMD G Srinivasan to be present at FICCI policy launch event in Mumbai. 6:00 pm: Canara Bank earnings call in Mumbai. LIVECHAT - OIL FOCUS Strong Chinese demand and signs of a slowdown in U.S. output are keeping crude oil prices supported for now. However, Brent is at similar levels as its average price since 2015, according to Thomson Reuters Eikon data. And, most price changes since 2015 have occurred in the first half, or towards the end, of a year. Overall, the second halves of every year since 2015 have seen relatively little price movement. Oil market veteran Cornelia Meyer, Chairman & Chief Economist, LBV Asset Management, Gasol PLC, joins us at 11:30 a.m. IST to discuss what's next for oil markets. To join the conversation, click here INDIA TOP NEWS Flipkart ups odds of buying Snapdeal with raised bid E-commerce firm Flipkart's sweetened takeover offer of up to $950 million for Snapdeal has improved the chances of a deal between the two rivals, though some sticking points are still being hashed out, two sources familiar with the matter said. Ahead of privatisation, Air India eyes bumper staff buyout Air India is drawing up a proposal to offer voluntary buyouts to just over a third of its 40,000 employees, two government officials said, in what would be one of the largest such offers in India's state sector, as the airline slashes costs ahead of a 2018 sale. Hindustan Unilever quarterly profit rises 9 percent Consumer goods company Hindustan Unilever reported a 9 percent rise in quarterly profit, helped by higher sales from its personal care segment. UltraTech Cement June-Qtr consol profit up 15 percent UltraTech Cement reported a 15 percent rise in June-quarter consolidated net profit on Tuesday. Philip Morris takes aim at young people in India, and health officials are fuming S. K. Arora spent more than three years trudging through the Indian summer heat and monsoon rains to inspect tobacco kiosks across this sprawling megacity, tearing down cigarette advertisements and handing out fines to store owners for putting them up. But as fast as he removed the colorful ads, more appeared. Indian banks need at least $2.8 billion extra provisioning for bankruptcy cases - India Ratings Indian banks taking 12 of the country's largest defaulters to bankruptcy court under a central bank directive, will need to make additional provisioning of at least 180 billion rupees, India Ratings and Research said on Tuesday. Government's demand for additional tax premature, Reliance Industries says The government's demand for additional share in the profits and royalty from the contractors of Panna Mukta and Tapti oil and gas fields is "premature", Reliance Industries said in a statement on Tuesday.

REUTERS INDIA EDITION Wednesday, July 19, 2017

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MORNING NEWS CALL - INDIA EDITION July 19, 2017

Dengue kills 21 in Indian tourist hotspot, crisis looms A dengue outbreak has killed at least 21 people in Kerala in the past three weeks, a government official said, adding that there was a shortage of medicines and health workers to tackle the crisis in the tourist hotspot. GLOBAL TOP STORIES Republican push to end Obamacare collapses in U.S. Senate Republican efforts to overhaul or repeal Obamacare collapsed in the U.S. Senate on Tuesday, dealing a sharp setback to President Donald Trump and the Republican Party's seven-year quest to kill former President Barack Obama's signature healthcare law. Japan business mood steady at high levels as economy recovers -Reuters Tankan Japanese manufacturers' and service providers' business confidence held steady at high levels in July, a Reuters poll found on Wednesday, underlining the central bank's upbeat view on the economy. Trump, Putin had previously undisclosed visit at G20 dinner U.S. President Donald Trump and Russian President Vladimir Putin had a previously undisclosed conversation during a dinner for G20 leaders at a summit earlier this month in Germany, a White House official said on Tuesday. STATE OF THE MARKETS The SGX Nifty Futures were at 9,870.00, up 0.12 percent from previous close. The Indian rupee will likely be steady to higher against the dollar in opening trade, underpinned by overnight losses in the greenback after unsuccessful attempts to pass through the U.S. healthcare bill raised concerns over President Donald Trump’s ability to push through other promised economic reforms. - Newsrise Indian government bonds are likely to open higher tracking overnight gains in U.S. Treasury prices. However, the rise may be capped ahead of fresh supply of notes later this week. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.44 percent-6.49 percent band today. - Newsrise A Netflix rally boosted the Nasdaq Composite to a record high on Tuesday while Goldman Sachs Group dragged the Dow lower as earnings take center stage on Wall Street. In Asian markets, investor sentiment was supported by a raft of upbeat economic news out of China. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.16 percent in early trade at its highest since April 2015. The dollar stayed on the defensive as investors wagered any further tightening in the United States would be slow at best, while optimism on China's economy underpinned Asian shares and commodities. U.S. Treasury yields fell on Tuesday, as investors grew cautious about the latest political drama in Washington around healthcare legislation, with weak economic data adding to the uncertainty about the pace of future interest rate hikes by the Federal Reserve. Oil prices fell after a rise in U.S. crude inventories and ongoing high output from OPEC producers revived concerns of a fuel supply overhang. Gold prices held steady after hitting their highest in over two weeks in the previous session, buoyed as the dollar hovered near ten-month lows.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.31/64.34 July 18 $49.33 mln $19.28 mln

10-yr bond yield 6.83 pct Month-to-date -$5.76 mln $1.63 bln

Year-to-date $8.58 bln $19.63 bln

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MORNING NEWS CALL - INDIA EDITION July 19, 2017

PICTURE OF THE DAY

People carrying umbrellas cross a flooded street as it rains in Mumbai, India July 18. REUTERS/Danish Siddiqui

(Compiled by Debanjan Bose in Bengaluru) For questions or comments about this report, contact: reuters.marketwatch@thomsonreuters.com For more information about our products: thomsonreuters.com/products_services Or send us a sales enquiry at: thomsonreuters.com/products_services/financial/contactus/ 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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