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Morning News Call - India, February 16

To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_02162021.pdf If you would like to receive this newsletter via email, please register at:https://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH Finance Minister Nirmala Sitharaman to address post-Budget meeting of theReserve Bank of India's central board via video conferencing. 10:00 am: RailTel Corporation of India IPO opens for subscription in Mumbai. 10:00 am: Nureca IPO subscription continues in Mumbai. 10:30 am: Jal Shakti Minister Gajendra Singh Shekhawat, Water ResourcesSecretary Pankaj Kumar among others at FICCI webinar. 11:00 am: Prime Minister Narendra Modi to lay the foundation stone ofMaharaja Suheldev Memorial and development work of Chittaura Lake via videoconferencing. 11:55 am: Honda 2Wheelers India to announce the launch of a new motorcycle. 1:30 pm: Road Transport Minister Nitin Gadkari to inaugurate leathercluster. Minister to also address road safety program and review ongoing highwayprojects in Tamil Nadu later in the day in Chennai. 4:00 pm: Railway Minister Piyush Goyal to hold an online media interactionon initiatives being undertaken in departments of consumer affairs, food andpublic distribution. 4:00 pm: Health Ministry briefing on Covid-19 situation in New Delhi. INDIA TOP NEWS • India shortlists four banks for potential privatisation - sources India's government has shortlisted four mid-sized state-run banks forprivatisation, under a new push to sell state assets and shore up governmentrevenues, three government sources said. • Jaguar cars to go all-electric by 2025 as JLR plans full range of e-modelsby 2030 Jaguar Land Rover's luxury Jaguar brand will be entirely electric by 2025and the carmaker will launch e-models of its entire lineup by 2030, it said onMonday, as it joined a global race to develop zero-emission vehicles. • UK auditing Indian vaccine site amid scramble for shots-sources Britain's drug regulator is auditing manufacturing processes at SerumInstitute of India (SII) which could pave the way for AstraZeneca's COVID-19vaccine to be shipped from there to the UK and other countries, according to twosources close to the matter. • India to ship COVID-19 vaccines to Canada as diplomatic tension eases Serum Institute will ship COVID-19 vaccines to Canada within a month, itschief executive said on Monday, in a sign a diplomatic row triggered by CanadianPrime Minister Justin Trudeau's comments on political protests in India waseasing. • ONGC sees peak gas output from east coast block in 2024 Oil and Natural Gas Corp hopes to produce 15 million cubic metres of gas aday in 2024 from its block in the Krishna Godavari basin, off India's eastcoast, its head of finance Subhash Kumar said on Monday. • India's Jan trade deficit narrows to $14.54 billion - govt India's trade deficit in goods narrowed to $14.54 billion in January asexports grew faster than imports, revised data released by the government onMonday showed. • India's arrest of activist tied to Greta Thunberg's movement sparksoutrage Indian politicians and activists on Monday condemned the arrest of a22-year-old climate campaigner accused of sedition for helping edit an onlinedocument that Sweden's Greta Thunberg had promoted in support of farmersprotesting in the country. GLOBAL TOP NEWS • BOJ's Kuroda says stock boom reflects economic optimism, defends ETFscheme Bank of Japan Governor Haruhiko Kuroda said the recent stock price rallyreflected market optimism over the global economic outlook, brushing aside viewsits ultra-loose monetary policy was fuelling an asset price bubble. • In NATO debut, Biden's Pentagon aims to rebuild trust damaged by Trump President Joe Biden's administration will use a NATO defense gathering thisweek to begin what is expected to be a years-long effort to rebuild trust withEuropean allies shaken by Donald Trump's "America First" foreign policy. • Cold snap leaves 8 million in Texas, Mexico without power A rare deep freeze in Texas that raised demand for power forced the state'selectric grid operator on Monday to impose rotating blackouts, leaving 4 millioncustomers without power even as temperatures dipped to teeth-chattering levels. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were little changed at 15,342.00. • The Indian rupee is expected to edge higher against the U.S. currency,tracking a further decline on the safe-haven dollar amid expectations of aneconomic rebound. • India's federal government bond yields are likely to rise tracking afurther uptick in U.S. Treasury yields and crude oil prices. The yield on thebenchmark 5.85% bond maturing in 2030 is likely to trade in a 6.00%-6.06% bandtoday. GLOBAL MARKETS • Asian shares advanced, putting world equities on course to extend theirbull run for a 12th consecutive session as optimism about the global economicrecovery and expectations of low interest rates drive investments into riskierassets. • The U.S. dollar was pinned down, as vaccine optimism boosted the Britishpound to an almost three-year high, while rising oil prices and buoyantexpectations for global recovery supported commodity and trade-exposedcurrencies. • Oil prices rose as a cold front shut wells and refineries in Texas, thebiggest crude producing state in the United States, the world's biggest oilproducer. • Platinum prices rallied for a third straight session, hitting a nearsix-and-a-half-year peak on hopes that a swift global economic rebound wouldboost demand for the auto-catalyst metal. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 72.6/72.63 February 15 (1710.02) crores 267.44 crores 10-yr bond yield 6.02% Month-to-date 18,883 crores (545) crores Year-to-date 38,356 crores (3,063) crores (FII investment numbers are in Indian rupees. Source: National SecuritiesDepository Limited) 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= 72.61 Indian rupees) (Compiled by Nachiket Tekawade in Bengaluru)