MORNING NEWS CALL

FACTORS TO WATCH 11:30 am: Piaggio to launch new small commercial vehicle in Mumbai. 12:00 pm: Government to release May wholesale inflation data in New Delhi. 2:00 pm: NASSCOM Chairman Ganesh Natarajan to speak at an event in Mumbai. 7:30 pm: Oil Minister Dharmendra Pradhan at JV pact signing ceremony between state-run oil marketing companies, to build refinery-cum-petrochemicals project on West coast, in New Delhi. LIVECHAT - CHARTING FX Take a look at the FX charts with Reuters technical analyst Martin Miller at 3:30 pm IST. To join the conversation, click here

INDIA TOP NEWS India to direct banks to start bankruptcy proceedings against 12 defaulters India's central bank said on Tuesday it has identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them to start unclogging the $150 billion in bad debt plaguing Asia's third-largest economy. Co-owner of Formula One team Force India could face further charges, UK court told Vijay Mallya, the co-owner of Formula One team Force India, could face further charges and a second request to extradite him from Britain to India, a London court heard on Tuesday. INTERVIEW-Pakistan eyes 2018 start for China-funded mega dam opposed by India Pakistan expects China to fund a long-delayed Indus river mega dam project in Gilgit-Baltistan, part of disputed Kashmir, with work beginning next year, Planning Minister Ahsan Iqbal said in an interview. GLOBAL TOP STORIES U.S. attorney general dodges Trump questions, angering Democrats U.S. Attorney General Jeff Sessions on Tuesday denounced as a "detestable lie" the idea he colluded with Russian meddling in the 2016 presidential election, and he clashed with Democratic lawmakers over his refusal to detail his conversations with President Donald Trump. High-level U.S. visit leads North Korea to free student in coma Otto Warmbier, an American university student held prisoner in North Korea for 17 months and said by his family to be in a coma, has been medically evacuated from the reclusive country after a rare visit there from a high-level U.S. official. U.S. weighs restricting Chinese investment in artificial intelligence The United States appears poised to heighten scrutiny of Chinese investment in Silicon Valley to better shield sensitive technologies seen as vital to U.S. national security, current and former U.S. officials tell Reuters.

STATE OF THE MARKETS The SGX Nifty Futures were trading at 9,617.00, up 0.02 percent from previous close. The Indian rupee will likely open lower against the dollar, as investors await clues on the Federal Reserve’s future policy trajectory after a near-certain rate increase later today. -NewsRise Indian government bonds will likely open steady and trade in a narrow band, as investors may defer purchases ahead of an expected interest rate increase by the U.S. Federal Reserve later today. The yield on the benchmark 6.79 percent

REUTERS INDIA EDITION Wednesday, June 14, 2017

2

MORNING NEWS CALL - INDIA EDITION June 14, 2017

bond maturing in 2027 is likely to trade in a 6.47 percent-6.52 percent band today. -NewsRise Wall Street gained on Tuesday, with the S&P 500, Dow industrials and Russell 2000 setting record closing highs, as technology stocks bounced back and investors positioned for an expected Federal Reserve interest rate hike. Asian shares turned mixed as investors everywhere awaited clarity on the Federal Reserve's future path for U.S. policy after a likely rate rise later in the day. The dollar eased with investors looking past an expected U.S. rate hike later in the day for clues on Federal Reserve policy for the rest of the year. Short-dated U.S. Treasury yields briefly hit multi-week highs on Tuesday after new data showed rising U.S. services prices, but the market was barely changed after a strong 30-year debt auction ahead of Wednesday's Federal Reserve decision on interest rates. Oil prices fell by one percent after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back. Gold crept up as the market waited for the end of a two-day U.S. Federal Reserve meeting, with the central bank expected to hike interest rates and give indications on its monetary policy for the rest of the year.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.42/64.45 June 13 -$48.50 mln $208.61 mln

10-yr bond yield 6.83 Month-to-date -$232.21 mln $3.15 bln

Year-to-date $7.75 bln $16.59 bln

3

MORNING NEWS CALL - INDIA EDITION June 14, 2017

PICTURE OF THE DAY

Coal workers travel on the back of their lorry in Barsana, India, June 13. REUTERS/Cathal McNaughton

(Compiled by Pathikrit Bandyopadhyay 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/

© 2017 Thomson Reuters. All rights reserved. This content is the intellectual property of Thomson Reuters and its affiliates. Any copying, distribution or redistribution of this content is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. Thom-son Reuters and its logo are registered trademarks or trademarks of the Thom-son Reuters group of companies around the world. Privacy Statement: To find out more about how we may collect, use and share your personal information please read our privacy statement: http://thomsonreuters.com/site/financial-risk-privacy-statement/ You can manage your Thomson Reuters Financial and Risk communication preferences via the link - https://pc2.mypreferences.com/ThomsonReutersFR/