Morning News Call - India, October 27

To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_10272016.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 10:30 am: Finance Minister Arun Jaitley to deliver keynote address at Asian Think Tank Development Forum in New Delhi.

1:00 pm: Federal cabinet likely to meet in New Delhi. Agenda not given.

LIVECHAT - HEDGE FUNDS VIEW with Mohammad Hassan, senior analyst from Eurekahedge Investors were pulling their money from hedge funds for a fifth month in September and the industry saw the fastest YTD outflows since 2009, according to a latest report by Eurekahedg, a subsidiary of Mizuho Bank. Hassan, the author of the report, will talk about the outperformers and underperformers and the outlook of the industry at 1100 IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS  Tata Sons' ousted head warns group faces big writedowns Group companies in Indian salt-to-software conglomerate Tata Sons face potential combined writedowns of close to $18 billion due to poor investments, according to an internal letter sent by ousted chairman Cyrus Mistry to the Tata board.

 Adani readies coal mine as Australia looks to curb green challenges India's Adani Enterprises is preparing to start construction of a $7 billion coal mine in Australia in 2017 despite years of legal delays and rollercoaster coal prices, the conglomerate said on Wednesday.

 Cigarette maker ITC criticises big health warnings on packs India's biggest cigarette maker ITC on Wednesday criticised the government's decision to impose bigger health warnings on cigarette packets, saying there was little evidence to link smoking to diseases depicted in those pictures.

 India, Iran aim to wrap up Farzad B gas field deal by March India and Iran aim to strike a deal by March to develop an Iranian gas field with estimated in-place reserves of 18.75 trillion cubic feet, the Indian government said in a statement on Wednesday.

GLOBAL TOP NEWS  Samsung Elec vows mobile rebound after Q3 Note 7 shock Samsung Electronics Co Ltd said it aims to recover quickly from the disastrous withdrawal of the fire-prone Galaxy Note 7 that dragged third-quarter mobile earnings to their lowest in nearly eight years.

 China courier ZTO delivers year's biggest U.S. IPO Chinese package delivery company ZTO Express raised $1.4 billion in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China's booming online-shopping industry, a source familiar with the deal said.

 Tesla turns profit, Musk says no new capital needed for Model 3 Tesla Motors Inc reported its first quarterly net profit in more than three years on Wednesday, buoyed by nearly $139 million in sales of clean car credits, and Chief Executive Elon Musk said the company could turn a profit again in the fourth quarter.

LOCAL MARKETS OUTLOOK (As reported by NewsRise)  The SGX Nifty Futures were at 8,585.00, down 0.23 pct from its previous close.

 The Indian rupee is poised to open lower against the dollar, tracking its Asian peers, as a fresh set of upbeat U.S. economic data cemented expectations of a Federal Reserve rates increase in December.

 Indian government bonds are likely to trade sideways in early session, as investors await the next set of global and domestic cues. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.75 pct - 6.80 pct band.

GLOBAL MARKETS  Quarterly results were the main driver for Wall Street on Wednesday as a decline in Apple shares weighed on the S&P 500 and Nasdaq, while the price-weighted Dow Industrials was buoyed by gains in Boeing.

 Asian shares edged down after disappointing earnings from technology giant Apple dragged on Wall Street, while the dollar remained shy of this week's nearly nine-month highs.

 The dollar edged up against the yen, while the euro and sterling held their gains versus the greenback, with a rise in bond yields supporting the currencies.

 U.S. Treasury debt yields rose on Wednesday, bolstered by a fresh batch of economic data that enhanced the outlook for third-quarter U.S. gross domestic product data due on Friday.

 Oil prices were stable, but remained below $50 a barrel, as doubts over OPEC's ability to organise a coordinated production cut weighed on markets, while firm demand and concerns over Venezuela's stability offered support.

 Gold prices inched down to extend losses from the previous session as the U.S. dollar steadied against the yen, but underlying demand for bullion was seen as robust ahead of major festivals in India.

CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.86/66.89 October 26 -$216.95 mln $22.30 mln 10-yr bond yield 6.94 pct Month-to-date -$223.66 mln -$800.88 mln Year-to-date $7.29 bln -$766.26 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 = 66.83 Indian rupees) (Compiled by Sai Sharanya Khosla in Bengaluru)