To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_08312017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 9:15 am: Finance Minister Arun Jaitley, Power Minister Piyush Goyal, NITI Aayog CEO Amitabh Kant, Vedanta Resources Chairman Anil Agarwal, Laurus Labs CEO Satyanarayana Chava and other corporate executives to speak at India Summit 2017 in New Delhi. 10:00 am: Power Minister Piyush Goyal, Railway Minister Suresh Prabhu, Finance Secretary Ashok Lavasa and other government officials at Business & Climate Summit 2017 in New Delhi 11:45 am: Automotive Component Manufacturers Association of India President Pratham Kapur to release the performance report of auto component industry for FY17 in New Delhi. 5:00 pm: Government to release July Infrastructure output data in New Delhi. 5:30 pm: Government to release April-June GDP data in New Delhi. LIVECHAT - ECONOMICS Professor Reto Foellmi, professor of international economics at the University of St. Gallen joins us for a view of the economic outlook at 2.30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • India seen posting stronger economic growth as shock from cash clampdown fades India's economy likely showed further signs of recovery in the latest quarter from a shock cash squeeze late last year, but the rebound is not expected to be strong enough to help it reclaim the crown of the world's fastest-growing major economy. • India cabinet approves raising levy on luxury cars, SUVs India's cabinet on Wednesday approved raising the maximum levy on luxury cars and sports utility vehicles (SUVs), drawing criticism from several car makers. • India central bank recovers almost all banned currency notes -report Indians returned almost all of the estimated 15.4 trillion rupees in high-currency bills removed from circulation in a shock move late last year, the Reserve Bank of India said in its annual report out on Wednesday. • Bird Group says keen to buy Air India's ground-handling unit Bird Group on Wednesday said it is interested in buying state-owned carrier Air India's ground-handling business, making it the second company to formally show interest in bidding for a part of the ailing airline. • India raises $1.4 billion from NTPC share sale - stock exchange data The Indian government has raised 91.36 billion rupees from a share sale in state-run utility NTPC Ltd , according to Reuters calculations based on stock exchange data. • Death toll from Mumbai floods jumps to 14, rain eases up Two toddlers were among 14 people killed in Mumbai after floods caused by heavy monsoon rains destroyed homes and disrupted traffic in India's financial capital, police said, but lighter-than-feared rain on Wednesday helped relief efforts. GLOBAL TOP NEWS • Faced with new bid, Toshiba looks set to miss chip sale deadline Toshiba Corp looks set to miss its own deadline of Aug 31 to agree an $17.3 billion sale of its chips business, a deal that would plug a gaping balance sheet hole and help the group avoid an embarrassing and potentially costly delisting. • Harvey moves into Louisiana with at least 25 dead, 17 missing Tropical Storm Harvey spun across southeastern Texas into Louisiana on Wednesday, sending more people fleeing for shelter after swamping Houston with record rains and flooding that killed at least 25 and drove tens of thousands from their homes. • China factory sector growth unexpectedly speeds up in August, services slows - official PMIs Growth in China's manufacturing sector unexpectedly accelerated in August, suggesting the world's second-largest economy is still expanding at a healthy clip despite rising financing costs and a cooling housing market. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,860.50, trading down 0.2 percent from its previous close. • Indian government bonds are likely to fall in early trade as investors await fresh supply of notes from a weekly debt auction tomorrow. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.52 percent-6.57 percent band. • The Indian rupee will likely open little changed against the dollar, as upbeat economic data from the U.S and China lifted regional shares, offsetting broad strength in the greenback. GLOBAL MARKETS • U.S. stocks rose on Wednesday after stronger-than-expected U.S. economic growth outweighed concerns about escalating tensions between the United States and North Korea and uncertainty in the aftermath of Hurricane Harvey. • Investors rediscovered a taste for the dollar and Asian shares as upbeat Chinese and U.S. economic news whetted appetite for riskier assets globally, even as tensions over North Korea simmered in the background. • U.S. Treasury yields held near nine-month lows on Wednesday as concerns about rising tensions with North Korea kept a bid for the bonds, and offset data that showed solid economic momentum. • Gasoline prices hit fresh 2-year highs as flooding from tropical storm Harvey knocked out almost a quarter of U.S. refineries, while crude oil prices fell again on the resulting drop in demand. • Gold prices edged lower early as the dollar gained on positive U.S. economic data, but the yellow metal was buoyed by safe haven demand amid a standoff over North Korea. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 63.89/63.92 August 30 -$1.95 mln $82.32 mln 10-yr bond yield 6.8 pct Month-to-date -$2.05 bln $1.96 bln Year-to-date $6.92 bln $23.10 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 = 63.9850 Indian rupees) (Compiled by Erum Khaled in Bengaluru)