MORNING NEWS CALL REUTERS INDIA EDITION Thursday, May 3, 2018

FACTORS TO WATCH 2:00 pm: Marico post earnings conference call in Mumbai. 3:00 pm: JSW Energy post earnings press conference in Mumbai.

LIVECHAT - U.S. - IRAN NUCLEAR DEAL As the May 12 deadline for U.S. President Donald Trump to decide on restoring economic sanctions on Tehran looms, we discuss what to expect with Richard Nephew, senior research scholar at the Center on Global Energy Policy, Columbia SIPA at 11:30 am IST. To join the Global Markets Forum, click here

INDIA TOP NEWS Amazon makes bid to spoil Walmart-Flipkart deal Amazon.com has made a formal offer to buy 60 percent of Flipkart, CNBC-TV18 reported on Wednesday, potentially complicating Walmart's bid for majority ownership of the Indian online retailer.

Jaguar appoints new manufacturing chief to transform plants for electric future Britain's biggest carmaker Jaguar Land Rover is replacing its director for manufacturing as it prepares its plants for an electrified future, the firm said.

Hero MotoCorp Q4 profit rises 35 percent, beats estimate Hero MotoCorp, the world's largest selling two-wheeler maker, reported a better-than-expected 35 percent rise in quarterly profit on Wednesday.

Surging costs hit Indigo-owner InterGlobe's fourth-quarter profit InterGlobe Aviation, owner of India's top carrier IndiGo, reported a 73 percent slump in fourth-quarter profit on Wednesday, dragged down by higher expenses and fuel costs.

Manipal-led bid for Fortis faces objections Two major investors in Fortis Healthcare, who have concerns over the bidding process for the cash-strapped Indian hospital operator, plan to vote against a Manipal Hospitals-led consortium if that group is selected as the winning bidder.

ONGC sets $2.64 billion capex for drilling oil, gas wells in 2018/19 India's top explorer Oil and Natural Gas Corp said on Wednesday it plans to invest $2.64 billion on drilling in 2018/19, a growth of about 24 percent over the last fiscal year.

GLOBAL TOP STORIES Trump has all but decided to withdraw from Iran nuclear deal U.S. President Donald Trump has all but decided to withdraw from the 2015 Iran nuclear accord by May 12 but exactly how he will do so remains unclear, two White House officials and a source familiar with the administration's internal debate said on Wednesday.

Fed leaves interest rates unchanged, says inflation near goal The Federal Reserve held interest rates steady on Wednesday and expressed confidence that a recent rise in inflation to near the U.S. central bank's target would be sustained, leaving it on track to raise borrowing costs in June.

China's Xiaomi files for mega Hong Kong IPO, lifts lid on financials Smartphone and connected device maker Xiaomi filed for a Hong Kong initial public offering, in what is expected to be the largest listing by a Chinese tech company in almost four years.

MORNING NEWS CALL - INDIA EDITION May 3, 2018

STATE OF THE MARKETS The SGX Nifty nearest-month futures were trading at 10,718.50, down 0.3 percent from its previous close.-NewsRise

The Indian rupee is expected to open little changed after the U.S. Federal Reserve expressed more confidence in inflation moving higher, but continued to signal a measured pace of interest rate increases.-NewsRise

Indian government bonds are likely to ease in early trade after the U.S. Federal Reserve held interest rates steady late yesterday but expressed confidence that a recent rise in inflation to near target would be sustained, hinting at a rate hike in June.The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in 7.71 percent -7.76 percent band today.-NewsRise

U.S. stocks fell on Wednesday as potential U.S. restrictions on Chinese telecom companies reinforced investor concerns about worsening trade relations between the United States and China.

Asian shares were subdued ahead of anxiously-awaited Sino-U.S. trade talks, while the U.S. dollar consolidated recent bumper gains after the Federal Reserve reaffirmed the outlook for more rate hikes this year.

The dollar traded near a four-month high against a basket of currencies, having recovered from a brief dip after the Federal Reserve kept interest rates steady and said inflation had "moved close" to its target.

U.S. Treasury yields for most maturities fell on Wednesday as a quarterly refunding program that aims to finance the country's massive fiscal deficit came in short of expectations, reducing the pressure on prices caused by the increase in debt supply.

Oil prices dipped, weighed down by swelling U.S. crude inventories and record weekly U.S. production which is countering efforts by producer cartel OPEC to cut supplies and prop up prices.

Gold prices edged higher for a second session ahead of much awaited U.S.- China trade talks, where a breakthrough deal is viewed as highly unlikely.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 66.68/66.71 May 2 -$78.88 mln -$240.92 mln

10-yr bond yield - Month-to-date -$983.03 mln -

Year-to-date $1.18 bln -$1.91 bln

2 MORNING NEWS CALL - INDIA EDITION May 3, 2018

PICTURE OF THE DAY

News photographers light candles to pay tribute to Afghan journalists, who were killed in a blast on Monday in Kabul, in Kolkata, May 2. REUTERS/Rupak De Chowdhuri

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