2:45 pm: Dena Bank Chairman Ashwani Kumar to brief media after earnings release in Mumbai.
TRADING INDIA FORUM- Monsoon 2015 with Jatin Singh, CEO- Skymet Skymet had a brief trough last year after stellar performances in the preceding 3. This time, though both the IMD and Skymet seem to be on the same footing with respect to the quantity and quality of rainfall, it's the timing that differs. We speak to the CEO of Skymet at 1100 IST on the reason in differences of opinion, learnings from 2015's debacle and whether El-nino has left us for good (at least for the next half-decade). To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ GMF:EMEA LIVECHAT - FX WEEK AHEAD with Reuters FX analyst Jeremy Boulton Join Reuters FX analyst Jeremy Boulton at 1530 IST for a look at the week's top topics and implications for the FX market. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS India central banker says core inflation higher than desired India's core inflation remains a bit higher than policymakers would like, but the economy's recovery should accelerate with a good monsoon, Reserve Bank of India Governor Raghuram Rajan said on Friday.
Shanghai Fosun says it has made a non-binding bid for Gland Pharma Shanghai Fosun Pharmaceutical Co Ltd said it has made a non-binding proposal for Gland Pharma Ltd, a move that would improve its drug manufacturing and research and development capacity.
RBI allows more foreign stake in private sector bank The Reserve Bank of India has allowed foreign banks higher shareholding in private sector lenders in the country under exceptional situations as it tweaked the guidelines, against the backdrop of norms on licensing of new banks.
India approaches Halkbank to handle oil payment to Iran India has approached Turkey's Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran's Fars news agency quoted India's ambassador to Tehran as saying on Saturday.
Rajan says taking steps to 'firewall' economy Reserve Bank of India Governor Raghuram Rajan said extending the country's external debt maturities, implementing sound policies, and building up foreign exchange reserves were the best "firewall" to defend the country's economy.
India regulator approves appointment of NSE chairman The Securities and Exchange Board of India has approved the appointment of Ashok Chawla, the former head of the Competition Commission of India, as the new chairman of the National Stock Exchange, a spokesman at the bourse said on Friday.
Bank of Baroda sees lower bad loan additions this year Bank of Baroda expects far lower additions to its bad loans this fiscal year than last year after reporting a second straight quarterly loss due to a surge in provisions, India's second-biggest bank by assets said.
Union Bank of India Q4 net profit plunges 78 percent as bad loans rise State-run Union Bank of India reported a 78 percent drop in its fourth-quarter profit as it raised provisions for bad loans.
UCO Bank posts $257 million Q4 loss as bad loans surge UCO Bank reported a fourth-quarter net loss of 17.15 billion rupees as its provisions for bad loans surged.
GLOBAL TOP NEWS Fiscal constraints mean BOJ likely to keep helicopter grounded Bank of Japan Governor Haruhiko Kuroda likes to keep markets guessing by saying one thing and doing another, but, when it comes to ruling out "helicopter money" to reanimate the economy, officials and close associates say he almost certainly means it.
Why China's private sector needs a "high degree of attention" Xia Xiaokang and Bruno Chen, who both run private-sector companies, are the sort of businessmen that Chinese leaders are increasingly concerned about as economic growth slows.
Hyundai raids Bentley to turbo-charge Genesis luxury drive After poaching Bentley's design chief last year, Hyundai Motor Co is set to announce it has also secured the services of the luxury marque's exterior designer.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 7,818.50, down 0.15 pct from its previous close.
The Indian rupee will likely open lower against the U.S. dollar, as a clutch of disappointing economic data out of China over the weekend reinforced concerns about a slowdown in Asia's largest economy.
Indian government bonds will likely fall after the nation's weather department said the onset of monsoon could be delayed amid a faster-than-expected pace of retail inflation last month, limiting room for the central bank to cut interest rates further.The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.43 pct-7.48 pct range.
GLOBAL MARKETS U.S. stocks fell on Friday as a decline in oil prices added to pressure from consumer companies after gloomy quarterly reports from Nordstrom and J.C. Penney overshadowed upbeat April retail sales data.
Buoyant Japanese stocks led Asian stocks to modest gains on Monday, helping to offset some of the gloom from soft Chinese data, while the dollar firmed against the euro and yen after receiving a boost from upbeat U.S. indicators.
The yen was broadly firmer early after disappointing economic news out of China shored up demand for the safe-haven currency.
The U.S. yield curve flattened to the lowest levels in two months on Friday after data showed U.S. retail sales rose the most in a year in April, suggesting the economy was regaining momentum after growth almost stalled in the first quarter.
Oil prices jumped over after long-time bear Goldman Sachs said the market had ended almost two years of oversupply following global oil disruptions and flipped to a deficit.
Gold rose for a second session, as slowing economic growth in China and weakness in Asian stock markets lifted the safe haven appeal of the precious metal.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.91/66.94 May 13 $223.3 mln $9.59 mln 10-yr bond yield 7.60 pct Month-to-date -$24.63 mln $34.78 mln Year-to-date $1.77 bln -$322.65 mln 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 = 66.77 Indian rupees) (Reporting by Nishit Kunal in Bengaluru)
