To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_11022017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 10:00 am: Apollo Tyres post-earnings conference call in Mumbai. 10:00 am: Textile Secretary Anant Kumar Singh and other textile industry officials at FICCI’s “Standard for Technical Textiles” event in New Delhi. 10:00 am: Aviation Minister P. Ashok Gajapathi Raju, Junior Aviation Minister Jayant Sinha and aviation industry officials at “Aero Expo India” in New Delhi. 10:30 am: Revenue Secretary Hasmukh Adhia, CBEC GST Member Mahender Singh, GST Council Additional Secretary Arun Goyal at Assocham’s National Summit on Ease of Doing Business event in New Delhi. 11:30 am: Whirlpool of India MD Sunil D’Souza at launch of kitchen appliance segment in Mumbai. 12:30 pm: ANI Integrated Services briefs media about its upcoming IPO on the SME exchange, in Mumbai. 2:00 pm: Century Plyboards (India) post-earnings conference call in Mumbai. GMF: LIVECHAT - OIL FOCUS Vandana Hari, founder of Vanda Insights, will discuss the outlook of oil price and preview the upcoming OPEC meeting in November, at 9:00 am IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Indian power plant blast kills 20, injures up to 100 An explosion at an Indian power plant killed 20 people and injured up to 100 in the northern state of Uttar Pradesh on Wednesday, authorities said, in one of the country's deadliest industrial accidents in years. • Bharti Airtel steps up spending in Indian telecoms war Bharti Airtel said on Wednesday it was looking to spend 250 billion rupees this financial year on its networks, a quarter more than its initial forecast and mainly to speed up the expansion of its 4G mobile broadband network in India. • India factory activity barely grows in Oct as GST stings Indian factory activity barely expanded in October as new orders fell, a survey showed on Wednesday, as price rises following the introduction of a goods and services tax dragged on the economy and underscored dim growth prospects over coming months. • Hero MotoCorp Q2 profit up marginally, misses estimates Hero MotoCorp, India's largest selling two-wheeler maker, reported a marginal rise in quarterly profit on Wednesday, missing estimates. • Arun Jaitley to head panel to oversee state bank consolidation India has set up a panel headed by Finance Minister Arun Jaitley to evaluate proposals for mergers among state-run banks, the government said on Wednesday, taking the long-awaited move a step forward. • India's aviation ministry proposes rules for commercial use of drones India's civil aviation ministry on Wednesday proposed a number of regulations for the use of drones in the country as it looks to legalise the use of unmanned aerial systems. • Tech Mahindra Sept-quarter profit beats estimates Software services exporter Tech Mahindra posted a better-than-expected rise in second-quarter net profit, aided by key client wins. • TVS Motor Q2 profit rises 20 pct, meets estimates TVS Motor Company reported a 20 percent rise in quarterly profit on Wednesday, matching analysts' estimates, as it sold about 16 percent more two wheelers than the year-ago quarter. GLOBAL TOP NEWS • Fed keeps rates unchanged, remains on road to December hike The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth and a strengthening labor market while playing down the impact of recent hurricanes, a sign it is on track to lift borrowing costs again in December. • National Australia Bank to slash headcount as profit breaks record National Australia Bank flagged thousands of job cuts as it posted a record annual cash profit of A$6.64 billion, underpinned by surging home loan volumes and higher business lending margins. • Uzbek man charged in NY attack said he 'felt good' about what he did An Uzbek immigrant accused of plowing a truck down a New York City bike path, killing eight people, told investigators he had been inspired by watching Islamic State videos and began planning the attack a year ago, according to a criminal complaint filed against him on Wednesday. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 10,465.00, trading down 0.20 percent from its previous close. • Indian government bonds are likely to trade steady after the U.S. Federal Reserve’s monetary policy decision was along the expected lines. The yield on the benchmark 6.79 percent bond maturing in 2027 may trade in a 6.86 percent-6.91 percent band. • The Indian rupee will likely edge higher against the dollar in early trade, tracking Asian peers after the greenback pared all overnight gains post the Federal Reserve’s policy decision amid concerns over tax reforms and the new head's selection at the U.S. central bank. GLOBAL MARKETS • Wall Street posted modest gains on Wednesday after the U.S. Federal Reserve kept interest rates unchanged and gave encouraging comments about the economy. • Asian shares advanced after the U.S. Federal Reserve expressed optimism about the economy, virtually cementing the case for a year-end rate hike as investors awaited the formal nomination of the next head of the central bank. • The dollar pulled back from a 3-1/2-month high versus the yen, sagging ahead of a U.S. tax bill that will be unveiled after a one-day delay. • U.S. Treasury yields fell on Wednesday and the yield curve was its flattest since 2007 after the Treasury Department said it would keep auction sizes steady in the coming months, despite the Federal Reserve's plan to reduce its bond holdings. • Oil prices edged up as U.S. crude inventories fell despite a rise in production, while outside the United States an OPEC-led supply cut continued to tighten the market. • Gold prices held onto gains after the U.S. Federal Reserve left interest rates unchanged on Wednesday, and as investors awaited an announcement on a new chair for the central bank later in the day. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.59/64.62 November 1 $160.8 mln -$4.95 mln 10-yr bond yield 7.00 pct Month-to-date $295.69 mln -- Year-to-date $5.65 bln $25.94 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 = 64.5600 Indian rupees) (Compiled by Nayyar Rasheed in Bengaluru)