MORNING NEWS CALL

FACTORS TO WATCH 10:00 am: Oil Minister Dharmendra Pradhan to address India Gas Infrastructure Conference 2017 in New Delhi. 10:00 am: Godrej Agrovet IPO opens for subscriptions in Mumbai. 10:30 am: Cabinet likely to meet in New Delhi. 2:30 pm: RBI to release fourth bi-monthly monetary policy statement in Mumbai. 2:45 pm: RBI Governor briefing post release of monetary policy statement in Mumbai. 4:45 pm: Prime Minister Narendra Modi and Telecom Minister Manoj Sinha at Institute of Company Secretaries of India event in New Delhi. 5:30 pm: Dubai Multi Commodities Centre CEO Gautam Sashittal at “Dubai Kolkata - The corridor between the Middle East and Eastern India” event in Kolkata. 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 SBI Life in modest debut after rich valuations for IPO SBI Life Insurance Co Ltd made just modest gains in its trading debut on Tuesday after its IPO - India's biggest in seven years - raised $1.3 billion at valuations widely viewed as steep. India seeks to raise up to $1.7 billion from state-run reinsurer GIC Re's IPO State-run reinsurer General Insurance Corp of India's (GIC Re) initial public offering of shares next week seeks to raise as much 113.7 billion rupees ($1.7 billion) in what will be India's second-biggest IPO. State-run Hindustan Aeronautics files for IPO Hindustan Aeronautics Ltd has filed for an initial public offering of shares that will see the government selling a tenth of the military aircraft maker. RCom reworking tower assets stake sale after wireless deal flop Reliance Communications is reworking a planned $1.7 billion stake sale in its tower assets after scrapping a proposed merger of its wireless arm with smaller rival Aircel, as its shares tumbled to an all-time low. Adani aims to wrap-up Australia project funding by March Adani Enterprises Ltd aims to tie-up financing for its Carmichael coal mine project in Australia by March 2018, a senior company executive told Reuters, adding it would look to sell a minority stake in the project to help raise funds. India cuts taxes on petrol and diesel India on Tuesday cut excise duty on petrol and diesel by two rupees a litre to protect retail consumers from higher global crude oil prices, a move analysts said could widen the country's fiscal deficit. Indian tycoon Mallya appears in UK court on new money-laundering accusations Indian businessman Vijay Mallya, who India wants to extradite from Britain on fraud charges, faces further accusations of money-laundering with some funds allegedly going to his Force India Formula One motor racing team, a London court heard on Tuesday. Reliance makes first purchase of U.S. crude - sources Reliance Industries Ltd has purchased crude oil cargoes from the United States for the first time, drawn by the lower price for U.S. oil versus global benchmarks, three trade sources said on Tuesday. GLOBAL TOP STORIES Las Vegas massacre probe turns to gunman's girlfriend in Philippines The investigation into the motives of a Las Vegas retiree who killed 58 people in the worst mass shooting in modern U.S. history turned on Tuesday to the gunman's girlfriend in the Philippines, where she turned up after the massacre,

REUTERS INDIA EDITION Wednesday, October 4, 2017

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MORNING NEWS CALL - INDIA EDITION October 4, 2017

authorities said. Yahoo says all 3 billion accounts hacked in 2013 data theft Yahoo on Tuesday said that all 3 billion of its accounts were hacked in a 2013 data theft, tripling its earlier estimate of the size of the largest breach in history, in a disclosure that attorneys said sharply increased the legal exposure of its new owner, Verizon Communications Inc. Japan transport ministry says raided 2 Nissan plants over improper checks Japan's Transport Ministry said it had conducted raids at two plants producing Nissan Motor Co cars, in addition to four checks performed last week as part of a probe into unauthorised vehicle inspections.

STATE OF THE MARKETS The SGX Nifty Futures were at 9,891.00, trading up 0.17 percent from its previous close. Indian government bonds are likely to remain steady amid caution ahead of the Monetary Policy Committee’s interest rate decision due later today. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.63 percent-6.67 percent band. - NewsRise The Indian rupee will likely rise in early trade against the dollar, in line with most Asian peers, amid improved sentiment on hopes gains across regional equities could rub off on local shares as well. - NewsRise The three major U.S. stock indexes and the Russell 2000 posted record high closes for the second straight day on Tuesday, helped by gains in airlines and as carmakers rose after strong September vehicle sales. Japanese shares climbed led by auto stocks as U.S. demand for cars ballooned following damage from recent hurricanes, while the dollar traded cautiously amid speculation over the next head of the Federal Reserve. The dollar stepped back from a 1 1/2-month high against a basket of currencies, as the rally triggered by strong U.S. data fizzled on speculation U.S. President Donald Trump's choice for the next Fed Chair may be a less hawkish candidiate than previously thought. U.S. Treasury debt yields fell on Tuesday in volatile trading as the market remained cautious two days after a mass shooting in Las Vegas, with investors also continuing to weigh the prospects of another interest rate hike this year. Oil prices eased over caution that a price rally that lasted for most of the third quarter would not extend through the last three months of the year. Gold inched up after hitting a 7-week low in the previous session, as the dollar pulled back from a 1-1/2-month high against a basket of currencies.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 65.56/65.59 October 3 -$105.83 mln $607.63 mln

10-yr bond yield 6.92 pct Month-to-date -$1.66 bln -

Year-to-date $5.35 bln $23.89 bln

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MORNING NEWS CALL - INDIA EDITION October 4, 2017

PICTURE OF THE DAY

A woman watches the smoke on the Myanmar side from Palang Khali, across the border in Bangladesh, October 3. REUTERS/Damir Sagolj

(Compiled by Shradha Singh 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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