To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_04252017.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: Farm Minister Radha Mohan Singh at an event in New Delhi.

11:00 am: DIPP Joint Secretary Rajeev Aggarwal at an event in New Delhi.

11:00 am: Revenue Secretary Hasmukh Adhia to brief media on Goods & Services Tax in new Delhi.

12:00 pm: Citibank press meet in Mumbai.

12:15 pm: IRB INVIT Fund's IPO conference in Mumbai.

3:00 pm: NITI Aayog Chief Executive Amitabh Kant and Vice Chairman Arvind Panagariya to brief media on 3-year draft Action Agenda in New Delhi.

3:00 pm: Principal Economic Adviser Sanjeev Sanyal at an event in New Delhi.

6:00 pm: IDFC Bank earnings call in Mumbai.

LIVECHAT - FED MEETING PREVIEW with Wilfred Wee, Portfolio Manager, Investec The probability of a Fed rate hike in June has dropped to less than 50 percent from more than 60 percent at the beginning of April. Wee will discuss buyside expectations in terms of the pace of tightening by the central bank this year at 11:30 a.m. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Reliance lifts Jio investment above $30 billion after record year India's Reliance Industries plans to spend a further $2.8 billion on its Jio telecoms business in the current quarter, it said on Monday, taking its investment in the venture to more than $30 billion.

• Infosys in process of adding two new members to board Infosys Ltd, India's second biggest software services exporter, is in the process of expanding its board of directors by inducting two more members, CNBC TV18 reported on Monday.

• Boutique bank Moelis eyes expansion in India amid M&A boom Boutique investment bank Moelis & Co plans to expand in India where it believes economic growth and corporate restructuring will prolong a boom in dealmaking, the head of its local business said on Monday.

• India aims to cut petroleum imports as it boosts alternative fuel use India is aiming to cut its oil products imports to zero as it turns to alternative fuels such as methanol in its transport sector, a government official said at an investor briefing on Monday.

• UltraTech Cement profit beats; shares hit record high India's largest cement producer UltraTech Cement reported a better-than-expected quarterly consolidated profit, sending its shares to a record high on Monday.

• India to expand access to J&J's TB drug this year India's top tuberculosis fighter said the government will expand access to Johnson & Johnson's breakthrough TB drug this year, but health experts warn much more needs to be done to eliminate the superbug by 2025.

• India's DCB Bank launches share sale to institutions Mid-sized Indian lender DCB Bank Ltd has launched a share sale to institutions, according to a stock exchange filing on Monday.

• Qatar Airways closes in on Italy deal, to own minority stake in Indian airline Qatar Airways will finalise a long-negotiated agreement to buy 49 percent of Italy's Meridiana in the coming days, and soon apply with Qatar's sovereign wealth fund to start an Indian airline.

GLOBAL TOP NEWS • U.S. submarine makes S.Korea port call, North remains defiant A nuclear-powered U.S. submarine made a port call in South Korea on Tuesday in a show of force amid concerns that North Korea may mark the foundation of its military with a missile launch or a nuclear test, defying U.S. and Chinese pressure.

• Hollande urges French to reject Le Pen in presidential run-off vote France's outgoing president, Francois Hollande, on Monday urged people to back centrist Emmanuel Macron in a vote to choose his successor next month and reject far-right leader Marine Le Pen, whose place in the run-off represented a "risk" for France.

• Trump's push to fund wall may be delayed as government shutdown looms U.S. President Donald Trump indicated an openness on Monday to delaying his push to secure funds for his promised border wall with Mexico, potentially eliminating a sticking point as lawmakers worked to avoid a looming shutdown of the federal government.

LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,243.50, trading up 0.2 pct from its previous close.

• The Indian rupee will likely open little changed to slightly lower against the dollar amid a lack of fresh triggers and after a win for a pro-European Union centrist in the first round of French elections sparked a rally yesterday.

• Indian government bonds will likely edge lower tracking gains in U.S. Treasury yields and as New Delhi will auction the benchmark note this week, amid expectations that a new 10-year paper is just round the corner. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.93 pct - 6.99 pct band today.

GLOBAL MARKETS • U.S. stocks rallied on Monday, tracking a relief rally that swept through Asian and European markets, after centrist candidate and market favorite Emmanuel Macron won the first round of the French presidential election.

• Asian equities were steady and the euro retained gains as markets' euphoria over a centrist victory in the first round of the French presidential election subsided, though near-term investor sentiment remains positive.

• The euro edged lower, catching its breath after a relief rally sparked by the first round results of the French election, while the Canadian dollar fell on news of U.S. duties on Canadian softwood lumber.

• U.S. Treasury debt prices fell on Monday after centrist Emmanuel Macron's victory in the first round of France's presidential race bolstered expectations the country would stay in the European Union and preserve the euro.

• Oil prices inched up but markets remain under pressure following six consecutive sessions of losses as traders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel.

• Gold held steady after a sharp fall in the previous session on a market-friendly French presidential vote, although tensions over North Korea offered support for safe-haven bullion.

CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.40/64.43 April 24 -$43.42 mln $104.59 mln 10-yr bond yield 7.17 Month-to-date -$173.3 mln $3.99 bln Year-to-date $6.61 bln $9.46 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 = 64.44 Indian rupees) (Compiled by Sai Sharanya Khosla in Bengaluru)