MORNING NEWS CALL

FACTORS TO WATCH

9:30 am: Directorate General of Hydrocarbons Director General Atanu Chakraborty, Oil Exploration Joint Secretary Amar Nath and other officials at oil ministry’s facilitation workshop on Open Acreage Licensing Programme bidding in Mumbai. 11:00 am: Environment, Science & Technology Minister Harsh Vardhan to release India State of Forest Report 2017 in New Delhi. 12:00 pm: Transport Minister Nitin Gadkari to release Indian Highway Capacity Manual Research Project report in New Delhi. 12:30 pm: Society of Indian Automobile Manufacturers to issue sales data for January in NOIDA. 3:30 pm: Trade Minister Suresh Prabhu to release a report on ports in New Delhi. 3:30 pm: Sobha post-earnings analyst conference call in Mumbai. 5:30 pm: Government to release January consumer price inflation data in New Delhi. 5:30 pm: Government to release December industrial output data in New Delhi. LIVECHAT-FX WEEK AHEAD FX Buzz analyst Jeremy Boulton analyses G7 currencies at 1630 IST, click here

INDIA TOP NEWS

Bad loans hurt Indian state banks, push SBI to surprise Q3 loss

State Bank of India, the nation's top lender by assets, reported a surprise third-quarter net loss on higher bad-loan provisions and lower trading income, but it said it expected an improvement in performance in the next financial year.

Indian bourses to stop licensing index, stock prices to foreign exchanges

India's three main stocks exchanges said on Friday they would stop licensing their indexes and securities or providing data to foreign exchanges, saying such agreements had led trading to migrate outside of the country.

REUTERS INDIA EDITION Monday, February 12, 2018

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MORNING NEWS CALL - INDIA EDITION February 12, 2018

Tata Steel Q3 profit surges on volume growth

India's Tata Steel on Friday posted a five-fold rise in third-quarter profit, boosted by strong volume growth in India and increasing steel prices.

Mahindra & Mahindra Q3 profit up over 12 percent, beats estimate

Mahindra & Mahindra on Friday reported a more than 12 percent rise in its third-quarter profit, beating Street estimates.

BPCL Q3 profit slips 6 percent State-run refiner Bharat Petroleum Corp on Friday posted a near 6 percent fall in third-quarter profit, but still marginally beat analysts' estimates.

Coal India Q3 profit rises 4.2 percent Coal India, the world's biggest coal miner, reported a 4.2-percent rise in third quarter profit on Saturday, beating analysts' estimates.

India will stick to fiscal deficit target - paper

India will stick to its budgeted fiscal deficit target for the coming fiscal year, Finance Minister Arun Jaitley was quoted on Saturday as saying.

ONGC-led group gets stake in ADNOC offshore oil concession

A consortium led by India's Oil and Natural Gas Corp has become the first group to win a stake in Abu Dhabi National Oil Co's (ADNOC) 40-year offshore oil concession, a deal set to help the UAE expand its foothold in Asia.

GLOBAL TOP STORIES

Russian passenger plane crashes near Moscow; 71 dead

A Russian passenger plane crashed near Moscow soon after take-off on Sunday, killing all 71 people on board, and investigators said they were looking at all possible causes.

Trump to roll out plan to overhaul U.S. infrastructure

U.S. President Donald Trump will roll out an infrastructure plan that already faces significant hurdles in Congress

because it does not offer as much new federal funding as Democrats want or directly address how to pay for the effort.

Takata, injured drivers reach deal to end U.S. bankruptcy

Takata Corp's U.S. unit reached a settlement with its creditors, lawyers for those injured by its deadly air bags and automakers that smoothes the way to end its Chapter 11 bankruptcy and sell its viable operations, according to court papers.

STATE OF THE MARKETS

Indian sovereign bonds are likely to trade steady in early session as investors await a fresh supply of state bonds and retail inflation data. The yield on the 7.17 percent bond maturing in 2028 is likely to trade in a 7.46 percent - 7.52 percent band till the auction result. -NewsRise The rupee will likely open flat to higher against the dollar, as global markets look to settle after bouts of massive risk-related sell-off last week, which can positively impact local shares as well. -NewsRise

The SGX Nifty Futures were trading at 10,476.50, trading up 0.19 percent from its previous close. -NewsRise

U.S. stocks ended a wild week with a burst of buying, pushing the S&P 500 up 1.5 percent on Friday, but still recorded their worst week in two years, and investors braced for more volatile trading days ahead.

Asian share markets found a semblance of calm as S&P futures extended their bounce, though bond investors were still fretting about the risks from looming U.S. inflation data.

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MORNING NEWS CALL - INDIA EDITION February 12, 2018

The yen edged higher versus the dollar, but traded below a five-month high after a bounce in U.S. equities late last week dampened demand for traditional safe haven currencies. U.S. Treasury prices gained on Friday after renewed weakness in equity markets increased demand for the low-risk debt. Oil prices rose, steadying from steep losses as calmer stock markets found their footing after tumbling in last week's chaotic trading. Gold prices edged up early as the dollar eased a touch after last week's rally and investors waited for more data on U.S. inflation amid expectations of rising interest rates.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.29/64.32 February 9 -$210.13 mln $16.30 mln

10-yr bond yield 7.61 pct Month-to-date -$554.96 mln $620.51 mln

Year-to-date $1.48 bln $2.09 bln

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MORNING NEWS CALL - INDIA EDITION February 12, 2018

PICTURE OF THE DAY

Brides display their hands decorated with henna around a bride as she poses for her own photographer during a mass marriage ceremony in which, according to its organizers, 70 Muslim couples took their wedding vows, in Ahmedabad, February 11. REUTERS/Amit Dave

(Compiled by Yoganand KN 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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