To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_03142017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 11:00 am: Budget session continues at lower house of parliament in New Delhi. 12:00 pm: Government to release February wholesale price inflation data in New Delhi. 5:30 pm: Government to release February consumer price inflation data in New Delhi. LIVECHAT-KOREA PRESIDENTIAL SCANDAL Focus is on South Korea with a snap election in the next 60 days after Park Geun-hye's removal from the presidential office amid rising threats from North Korea and tension with China due to the deployment of the U.S. THAAD missile system. At 9.00 am, James Pearson, Reuters general news correspondent in Seoul, will discuss the potential presidential candidates and geopolitical impact from the election. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • India gold recycling plan fails to tempt households India's ambitious plan to recycle thousands of tonnes of gold lying idle in temples and households looks to have foundered on concerns over high costs and slight returns, in a blow to government hopes of cutting imports of the metal. • Adani applies to Aus govt fund for coal mine railway financing Adani Enterprises has applied for financing from an Australian infrastructure fund to build a rail line that is part of a $16 billion coal project in the state of Queensland, Australia's resources minister said on Monday. • State-owned carrier Air India understated losses - federal auditor State-owned airline Air India understated its operating losses by nearly $1 billion over three fiscal years to March 2015, the federal auditor said in a report, highlighting the carrier's financial distress. • Avenue Supermarts IPO oversubscribed 106 times The last day of bidding for an initial public offering by Avenue Supermarts Ltd saw investors clamouring for the shares, tempted by the company's strong credentials and with a continued momentum from recent share offerings. • Volkswagen, Tata Motors plan to cooperate in India German carmaker Volkswagen said on Friday it had signed a memorandum of understanding to explore a partnership with India's Tata Motors to jointly develop auto components and vehicles for the Indian subcontinent and beyond. • Canara Bank sells 13.45 pct stake in Can Fin Homes State-run lender Canara Bank Ltd has sold a 13.45 percent stake in Housing finance arm Can Fin Homes Ltd to Singapore-based Caladium Investment Pvt Ltd for 7.54 billion rupees, it said on Friday. • Modi's BJP sees bigger India mandate in 2019 after state landslide Prime Minister Narendra Modi's party expects national elections in 2019 to deliver an even bigger mandate than in 2014, its leaders said on Sunday, buoyed by a thumping victory in the country's most politically important state. GLOBAL TOP NEWS • UK PM May's hand moves closer to Brexit trigger British Prime Minister Theresa May cleared the final hurdle standing between her and the start of Brexit negotiations on Monday after parliament passed legislation giving her the power to start the EU exit process. • Republican plan to repeal Obamacare would leave millions uninsured -report Fourteen million Americans would lose medical insurance by next year under a Republican plan to dismantle Obamacare that would also reduce the budget deficit, a nonpartisan congressional research office said on Monday, throwing President Donald Trump and Republicans on the defensive as they press forward with replacement legislation. • Toshiba shares dive after second earnings extension sought Shares of Toshiba Corp fell 5 percent after sources said the electronics conglomerate was seeking an extension of its Tuesday deadline for submitting official third-quarter earnings as its auditors have not agreed to sign off on them. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,199.00, trading up 0.03 pct from its previous close. • The Indian rupee will likely open higher against the dollar, as the ruling Bharatiya Janata Party’s decisive victory in a major state election is expected to boost Prime Minister Narendra Modi’s chances for a second term in 2019. • Indian government bonds are likely to edge lower in early trade tracking firm U.S. Treasury yields ahead of an expected interest rate increase by the Federal Reserve tomorrow. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.88 pct-6.93 pct band today. The bond had closed at 100.45 rupees, yielding 6.90 pct, on Mar. 10. GLOBAL MARKETS • U.S. stocks ended little changed in light volume on Monday, with traders eyeing a Federal Reserve meeting expected to result in an interest rate increase later this week. • Sterling slipped after Britain's parliament paved the way for Prime Minister Theresa May to launch divorce talks with the European Union, while stocks advanced ahead of an expected U.S. interest rate later in the week. • The dollar inched up against a basket of currencies as U.S. Treasury yields extended their rise ahead of an expected interest rate hike by the Federal Reserve. • U.S. Treasury yields edged higher on Monday in anticipation of a Federal Reserve interest rate increase on Wednesday, nervousness that the central bank could indicate a more aggressive pace of future rate hikes, and new corporate bond supply. • Crude oil prices hovered near three-month lows in early Asian trading as investors await key reports and data that may shed light on a supply overhang in the global market. • Gold prices were steady, with investors waiting for the start later in the session of a two-day Federal Reserve meeting where the U.S. central bank is widely expected to raise interest rates. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.48/66.51 March 10 $62.27 mln $39.79 mln 10-yr bond yield 7.3 pct Month-to-date $1.29 bln $78.97 mln Year-to-date $2.85 bln $1.39 bln 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 = 66.60 Indian rupees) (Compiled by Erum Khaled in Bengaluru)