Landing | Fri Jun 15, 2012 8:54am IST

Indian stocks to watch-June 15

GLOBAL MARKETS                	
    * The near-month derivative contract for India's NSE index 
at Singapore Exchange rose 0.5 percent, while the MSCI
Asia ex-Japan rose 0.6 percent.           	
    * Asian shares edged up on Friday, and the euro held most of
the previous session's gains, as nervous investors took comfort
from plans for coordinated action by major central banks to
stabilise markets if Sunday's election in Greece results in
turmoil.                	
    *  U.S. stocks jumped on Thursday after news major central
banks are preparing coordinated action if the results of Greek
elections this weekend lead to turmoil in financial markets.
 	
        	
    FACTORS TO WATCH     	
    * Data on weekly foreign reserves, bank loans from the RBI.
(1230 GMT)  	
    	
    INDIAN STOCKS TO WATCH	
    ENERGY/COMMODITIES	
    * State-owned Indian Oil, Hindustan Petroleum
 and Bharat Petroleum could cut petrol prices
by 2 rupees during a scheduled meeting on Friday after the fall
in global crude prices. (Times of India)	
here	
    * Coal India expects a hit of 60 billion rupees
per year on its revenue from next year as it cuts spot sales to
accommodate power producers, according to an internal note.
(Economic Times)	
here	
    * Institutional Investor Advisory Services India has
recommended that minority institutional investors in Sesa Goa
 vote against a resolution to merge the company with
Sterlite Industries, both of which are controlled by
Vedanta Resources.. (Economic Times)	
here	
    * The AV Birla Group and French cement giant Lafarge are in
talks to buy out Jaiprakash Associates' cement plants
in Gujarat and Andhra Pradesh, after the New Delhi-based company
decided to spin off the assets into a separate company,
according to people close to the developments. (Economic Times)	
here	
    * India is seeking extra oil supplies from OPEC members
Saudi Arabia, Qatar and Algeria, as the country, already cutting
its dependence on sanctions-hit Iran, works to secure additional
barrels to feed its expanding refining capacity. 	
    * The Indian government formally lifted a hefty tax on
payments to National Iranian Oil Co (NIOC) for settling part of
its oil purchases in Indian rupees. 	
    * Water levels in India's main reservoirs in the week to
June 14 were at 18 percent of capacity, down six percentage
points from the year ago period, government data showed, in the
second week of the crucial monsoon rainy season. 	
    * India's crucial monsoon rains were 50 percent below
average in the week to June 13, the weather office said on
Thursday, a second week of scant rain and confirmation the
four-month season has got off to a slow start. 	
   * India hiked the base price it will pay farmers for rice
this year well above current domestic levels, raising the
prospects for a bumper harvest and exports from the world's
second-biggest producer. 	
	
    FINANCIAL	
    * Tata Communications is negotiating to buy a
substantial stake in Chennai-based Prizm Payments Services in
order to expand its payment services business, according to an
investment banker close to the transaction. (Economic Times)	
here	
    * India's best known stock investor, billionaire Rakesh
Jhunjhunwala, doesn't much like the moniker of 'India's Warren
Buffett'.  	
    Dressed simply in a white shirt and grey pants, he draws
heavily on a cigarette, burps loudly, tells ribald jokes and
peppers his interview with the cliches and one-liners that have
become his stock-in-trade. 	
 	
    RETAIL	
    * South Korea's Lotte Shopping has abandoned
plans to start a cash-and-carry venture in India after
recruiting a team a year-and-a-half ago, a person with direct
knowledge of the development said. (Economic Times)	
here	
    	
    TELECOMS	
    * SREI Group company Quippo has made a nearly 30 billion
rupee bid for the tower business of Bangladesh's second-largest
mobile operator, Banglalink, two persons familiar with the
development said. (Economic Times)	
here	
    * ZTE may end up being the sole supplier of GSM
equipment to Bharat Sanchar Nigam Ltd even though the state-run
company had hoped to give out the contract of 15 million lines
to two different suppliers, said three people familiar with the
development. (Economic Times)	
here	
    	
    PHARMA	
    * Tata Group-owned drug discovery and services firm Advinus
Therapeutics has initiated talks with a few foreign drug
companies that could lead Tata to exit the company completely or
selling its molecule research business, said two persons
familiar with the development. (Economic Times)	
here	
	
    IT	
    * Cognizant Technology Solutions announced that it
has signed a $300-million agreement with ING unit in the United
States to offer a comprehensive array of insurance business
process services. (Business Standard)	
here	
    	
    AIRLINE	
    * SpiceJet is planning to raise funds from private
equity (PE) companies and other potential investors including
foreign airlines. (Business Standard)	
    A spokesperson from the airline told Business Standard
investors have approached SpiceJet but said the airline had not
finalised any deal.	
here	
    	
    AUTOS	
    * Audi AG has sold out the first lot of 500 units
of its Q3 compact sport-utility vehicle within five days of its
debut in India. (Economic Times)	
here	
	
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.	
    	
    OTHER FACTORS TO WATCH                                      
   	
* Indian debt/FX factors to watch                   	
* Euro firm on hopes of central bank action              	
* Oil rises as OPEC keeps output target steady            	
* Foreign institutional investor flows         	
* For closing rates of Indian ADRs                      
 	
	
	
	
 (Compiled by Divya Chowdhury; Editing by Rafael Nam)
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