MORNING NEWS CALL

FACTORS TO WATCH 10:00 am: DIPP Director Sushil Satpute and ITC India Tobacco Divisional Chief Executive Sandip Kaul at FICCI event in New Delhi. 10:00 am: Lloyd’s India CEO Shankar Garigiparthy and SBI Life Insurance Executive Vice President N.R.V. Roopkumar at NIA Insurance Summit in Mumbai. 10:00 am: Chemicals and Fertilizers Minister Ananth Kumar at ASSOCHAM conference on Generic Drugs in Bengaluru. 10:30 am: Department of Financial Services Secretary Rajiv Kumar at National Atal Pension Yojana conference in New Delhi. 5:00 pm: General Insurance Corp. IPO closes today in Mumbai. 5:00 pm: RBI to release weekly foreign exchange data in Mumbai. 5:30 pm: Reliance Industries Joint CFO Srikanth Venkatachari to brief media post results in Mumbai. 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 conversation, click here INDIA TOP NEWS Retail inflation remains steady in September, hopes for rate cut bleak India's annual consumer price inflation remained steady in September from the previous month, but hopes of a rate cut by the Reserve Bank of India remain bleak as it expects higher inflation in coming months. Bharti Airtel to acquire Tata's money-losing mobile unit for nothing Bharti Airtel Ltd is acquiring the Tata conglomerate's consumer mobile business virtually free of charge in a deal that gives India's top wireless player a major subscriber base boost, while stemming the bleed for Tata from a money-losing venture. TCS positive on retail business turnaround, cautious on financial services India's top IT services firm Tata Consultancy Services Ltd said it expected an uptick in the retail business segment in the coming quarters but remained cautious about the banking and financial services segments that form the bulk of its revenues. IndusInd Bank Q2 profit rises 25 percent IndusInd Bank Ltd posted a 25 percent rise in its second-quarter net profit, helped by higher interest income. Reliance Nippon Life AMC IPO seeks to raise up to $237 million Reliance Nippon Life Asset Management Ltd's initial public offering, the first by an Indian mutual fund manager, seeks to raise up to 15.42 billion rupees with the company on Thursday setting a price range of 247-252 rupees per share. Motilal Oswal, MMTC-PAMP launch digital gold service A subsidiary of Indian brokerage Motilal Oswal Financial Services Ltd and MMTC-PAMP India, the biggest refiner in the country, launched a service on Thursday allowing customers to buy gold on the brokerage's digital platform. Allianz, Shapoorji Pallonji partner to set up $500 million India fund German insurer Allianz SE said it had partnered with Indian conglomerate Shapoorji Pallonji Group to set up a $500 million real-estate fund aimed at the office market in India. GLOBAL TOP STORIES Samsung Electronics CEO Kwon Oh-hyun to step down from management Samsung Electronics Co Ltd said its CEO and Vice Chairman Kwon Oh-hyun had decided to step down from management, as it forecast record third-quarter profits on the back of soaring memory chip prices.

REUTERS INDIA EDITION Friday, October 13, 2017

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MORNING NEWS CALL - INDIA EDITION October 13, 2017

Kuroda says BOJ to keep easy policy, tread different path from Fed, ECB Bank of Japan Governor Haruhiko Kuroda on Thursday stressed the central bank's resolve to maintain its ultra-loose monetary policy, even as its U.S. and European counterparts begin to dial back their massive, crisis-mode monetary stimulus. Frustrated by Congress, Trump signs order to weaken Obamacare President Donald Trump on Thursday signed an order to make it easier for Americans to buy bare-bones health insurance plans, using his presidential powers to undermine Obamacare after fellow Republicans in Congress failed to repeal the 2010 law.

STATE OF THE MARKETS The SGX Nifty Futures were at 10,110.00, trading down 0.15 percent from its previous close. Indian government bonds are likely to rise today, as lower-than-expected retail inflation in September bolsters bets that there would be further monetary easing in coming months. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.70 percent-6.75 percent band. - NewsRise The Indian rupee will likely edge higher against the dollar in early trade, in line with Asian peers, while greenback steadied ahead of the key U.S. inflation data for further clues on the next interest rate hike in the world’s biggest economy. - NewsRise U.S. stocks retreated from recent record highs on Thursday as AT&T shares sank after it said it lost subscribers in the last quarter and banks slipped following results from JPMorgan and Citigroup. Asian stocks held firm near a 10-year high thanks to expectations of brisk global growth, although investors held off chasing the shares higher ahead of U.S. and Chinese economic data as well as the Chinese Communist Party congress next week. The dollar steadied, on track for weekly losses as investors awaited U.S. inflation data to gauge the likelihood that the Federal Reserve will stick to its plan to raise interest rates again this year. U.S. Treasury prices gained on Thursday after the Treasury Department's $12 billion bond sale drew strong demand, and as investors repositioned ahead of inflation data due today. Oil prices edged up as both U.S. crude production and inventories declined, pointing towards a tightening market. Gold prices were little changed amid a steady dollar, halting a five-day rally as investors wait for key U.S. inflation data for clues on the outlook for potential hikes in U.S. interest rates.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 65.07/65.10 October 12 -$102.69 mln $69.61 mln

10-yr bond yield 6.97 pct Month-to-date -$391.45 mln $1.67 bln

Year-to-date $4.96 bln $24.95 bln

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MORNING NEWS CALL - INDIA EDITION October 13, 2017

PICTURE OF THE DAY

A woman colours earthen lamps which are used to decorate temples and homes during the Hindu festival of Diwali, in Kolkata, India October 12. REUTERS/Rupak De Chowdhuri

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