Morning News Call - India, April 4

To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_04042016.pdf FACTORS TO WATCH 9:45 am: Finance Minister Arun Jaitley at annual event of Confederation of Indian Industry in New Delhi.

12:30 pm: Commerce Minister Nirmala Sitharaman briefs media on global exhibition on services in New Delhi.

2:30 pm: CRISIL media teleconference to present roundup of rating actions during last FY and outlook for this FY in Mumbai.

GMF:EMEA CURRENCY LIVECHAT with Eddie Topfik, head of foreign exchange, ADM Investor Services International.

Eddie Topfik, head of foreign exchange, ADM Investor Services International joins us in the forum as he gets the latest updates on the currency front at 1430 IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS  Adani wins state approval for Australian coal project Adani Enterprises Ltd was granted approval by Australia's Queensland state government on Sunday to proceed with its proposed A$10 billion Carmichael coal project in the Galilee Basin.

 Reliance moves into fashion and lifestyle e-commerce Reliance Retail Ltd, the retail business of India's energy conglomerate Reliance Industries Ltd, said on Saturday it planned a quick roll-out of its newly launched fashion and lifestyle e-commerce business.

 ITC says to keep cigarette factories shut over health warning rules India's top cigarette maker ITC Ltd, part-owned by British American Tobacco, said it was not ready to print bigger health warnings on its packs as mandated by the government and will keep its factories shut until clarity emerges on the new rules.

 HCL Tech to buy Geometric Ltd in all-stock deal Geometric Ltd said it will sell its IT services business to HCL Technologies Ltd in an all-stock deal valued at 12.37 billion Indian rupees, as HCL looks to strengthen its engineering and automotive services portfolio.

 Nestle says has not been notified of any noodle issues in India Swiss food group Nestle said on Friday it had not been informed by Indian authorities of any new health issues with its instant noodles after a newspaper reported tests had detected higher-than-permissible levels of ash in the product.

 Tata Steel in talks to take stake in Thyssenkrupp's Europe steel unit-paper Tata Steel is planning to take a stake in Thyssenkrupp's European steel unit, German business paper Rheinische Post reported, citing government sources in Berlin.

 India allows gold repayments to make scheme attractive for temples India on Friday tweaked its gold monetisation scheme to allow repayments in gold for medium- and long-term deposits, making the plan more attractive for temples that are sitting on thousands of tonnes of the metal.

GLOBAL TOP NEWS  Trump's prediction of 'massive recession' puzzles economists Donald Trump's prediction that the U.S. economy was on the verge of a "very massive recession" hit a wall of skepticism on Sunday from economists who questioned the Republican presidential front-runner's calculations.

 Japan firms' inflation expectations weaken, keeps BOJ under pressure Japanese companies' long-term inflation expectations weakened in March from three months ago, a central bank survey showed, a sign January's decision to adopt negative interest rates has failed to convince firms that price rises will accelerate over time.

Samsung brings in the lawyers for biosimilars push Samsung Bioepis Co Ltd, which aims to become a force in the fledgling biosimilar drugs industry, has filed a lawsuit against the originator of the world's best-selling drug, to stop it blocking the launch of its own version.

LOCAL MARKETS OUTLOOK (As reported by NewsRise)  The SGX Nifty Futures was trading at 7,764.50, up 0.25 pct from its previous close.

 The Indian rupee will likely open higher against the dollar, as better-than-expected March U.S. nonfarm payrolls numbers were overshadowed by an uptick in the monthly unemployment rate, weighing on demand for the greenback.

 Indian government bonds will likely gain in early trading amid hopes of monetary easing by the Reserve Bank of India at a policy review scheduled for tomorrow. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.43 pct-7.47 pct range today.

GLOBAL MARKETS  Wall Street extended a seven-week rally on Friday after upbeat U.S. jobs and factory data hinted at stronger corporate earnings without increasing concerns of potential U.S. interest rate hikes.

 Asian share prices held firm after solid U.S. payroll data underpinned investor risk sentiment while dovish comments from Federal Reserve Chair Janet Yellen the previous week kept the U.S. dollar in check.

 The dollar was on the defensive early, nursing deep losses against the euro and yen after Friday's firm U.S. jobs report failed to shift a broadly held view that the Federal Reserve will remain cautious on raising interest rates this year.

 U.S. short-dated Treasury yields rose on Friday from one-month lows in choppy trading as stronger-than-expected labor and factory data in March supported the view the Federal Reserve would raise interest rates later this year.

 Oil prices fell in early trading as the chances of Middle East producers agreeing to curb overproduction appeared to fade, while U.S. output remains stubbornly high.

 Gold nursed losses, after a strong U.S. jobs report triggered speculation that the Federal Reserve could raise interest rates sooner than expected.

MARKETS CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.26/66.29 April 1 $32.3 mln - 10-yr bond yield 7.69 pct Month-to-date - - Year-to-date - - For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 66.25 Indian rupees) (Reporting by Nishit Kunal in Bengaluru)

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