Morning News Call - India, September 13

To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_09132022.pdf If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage INDIA TOP NEWS • Vedanta picks Modi's home state for $20 billion India semiconductor foray -sources Vedanta Ltd has selected Indian Prime Minister Narendra Modi's home state of Gujarat for its semiconductor project, two sources told Reuters, the first major step in its $20 billion joint venture with Taiwan's Foxconn. • Sony, Zee offer concessions to ease India watchdog worry over merger-sources A unit of Sony Group and India's Zee Entertainment have proposed offering concessions such as pricing discounts to help ease concerns of the country's antitrust regulator over their merger, which will create a $10-billion TV behemoth, two sources told Reuters. • Amazon India to waive 50% fee for new sellers in festival season Amazon.com Inc's Indian arm said on Monday it will halve the fee for new sellers on its platform as the e-commerce giant gears up for the festive season in one of its key markets. • Google considers making some Pixel phones in India - The Information Alphabet Inc is considering moving some production of Pixel phones to India following disruptions in China from COVID-19 lockdowns and Beijing's rising tensions with the United States, the Information reported on Monday, citing a source. • Binance-backed WazirX says India unfreezes bank accounts WazirX, linked to the world's largest digital currency exchange Binance, said on Monday its bank accounts were unfrozen by India's financial crime-fighting agency after more than a month.​ • India's rice export curbs paralyse trade in Asia as prices rise India's restrictions on rice exports have paralysed trading in Asia, with buyers scouring for alternative supplies from Vietnam, Thailand and Myanmar where seller are holding off on deals as prices rise, industry officials said. • Magna invests $77 million in India's EV startup Yulu to enter micromobility market Magna International Inc is investing $77 million in India's EV startup Yulu to enter the micromobility market, the Canadian auto parts supplier said on Sunday. • Air India to expand fleet with 30 Boeing and Airbus jets Tata Group-owned Air India said on Monday that it will lease 30 Boeing and Airbus aircraft, expanding its fleet by more than 25%. GLOBAL TOP NEWS • Ukraine calls for more Western arms after Russia pullback Ukraine's President Volodymyr Zelenskiy is calling on the West to speed up deliveries of weapons systems as Ukrainian troops move to consolidate control over a large swath of northeastern territory seized back from Russia. • Most Twitter shareholders vote in favor of sale to Musk -sources A majority of Twitter Inc's shareholders have voted in favor of the social media company's $44 billion sale to Elon Musk, people familiar with the tally said on Monday. • King Charles and siblings hold silent vigil to late mother, Queen Elizabeth King Charles and his siblings held a silent vigil at the side of their mother Queen Elizabeth's coffin as it lay at rest in Edinburgh's historic cathedral, with thousands queuing for hours to pay their respects to Britain's longest-serving monarch. LOCAL MARKETS OUTLOOK • SGX Nifty nearest-month futures were trading 0.55% higher at 18,042 GLOBAL MARKETS • Wall Street extended its winning streak on Monday, rallying to a sharply higher close as investors awaited crucial inflation data that could provide clues about the duration and severity of the Federal Reserve's tightening policy. • Asian stocks rose as traders in Korea returned from holidays in a mood to catch up on a global bounce, while other markets held steady ahead of U.S. inflation data that will offer a crucial guide to the interest rate outlook. • The dollar nursed losses on Tuesday ahead of U.S. inflation data that investors hope might show some signs of softening, while the euro rose on hawkish comments from policymakers that rates would need to increase further. • Treasury yields edged higher on Monday a day before key consumer price data is unlikely to alter another aggressive interest rate hike by the Federal Reserve next week as it slows the U.S. economy to quell inflation. • Oil prices edged up early on Tuesday, extending gains from the previous session as investors worried about tight supply ahead of the winter heating season in the Northern Hemisphere. • Gold prices held firm on Tuesday near a two-week high hit in the previous session, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve's interest rate hike path. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 79.36/79.38 September 12 2,274.84 crores 48.51 crores 10-yr bond yield 7.181% Month-to-date 7,868 crores 207 crores Year-to-date (1,53,297) crores (12,874) crores (FII investment numbers are in Indian rupees. Source: National Securities Depository 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 = 79.35 Indian rupees (Compiled by Anjana J. Nair in Bengaluru)