Indian stocks to watch-Aug 8

GLOBAL MARKETS
* The Nifty futures in Singapore Exchange rose 0.5
percent, while the MSCI Asia-Pacific index excluding Japan
rose 0.6 percent.
* U.S. stocks rose for a third straight day on Tuesday,
pushing the S&P above 1,400 for the first time since early May,
on growing optimism the European Central Bank would act soon to
contain the euro zone's debt crisis.
* Asian shares rose to a three-month high on Wednesday,
supported by expectations that policymakers will soon decisively
address the euro zone fiscal crisis and declining global growth.

FACTORS TO WATCH
* The Indian parliament begins its month-long monsoon
session.
* India - Money Supply data to be release by RBI. (1130GMT)
* Major earnings on Wednesday: Bharti Airtel, GVK
Power, Chambal Fertilisers, Mahindra &
Mahindra, Power Finance Corp, Tata Power
, and United Brewries Holdings.

INDIAN STOCKS TO WATCH
FINANCIAL/REGULATORY
* P Chidambaram, the newly appointed finance minister, is
planning to revive share sales of listed state-run firms,
primarily those in which public holding is less than 25 per
cent, hoping to send out a strong signal of his intent to
improve government finances and boost investor sentiment.
LINK: here
* Offshoring of back-office work to India, a trend among
banks and accounting firms, came under new scrutiny with
allegations that Standard Chartered Plc moved
compliance oversight work dealing with Iranian banking
transactions to India to avoid U.S. regulators.

* India's telecoms ministry will ask the country's Supreme
Court for approval to conduct a mobile radio airwaves auction in
early November, a senior government official said on Tuesday,
seeking more time for the sale that was due by end-August.

* India is considering imposing a tax on sugar exports and
dropping a 10 percent import duty to help curb overseas sales
and keep a lid on domestic prices as a drought threatens farm
output, government sources said on Tuesday.
* The Competition Commission of India (CCI) has launched
investigations into the current trend of automobile companies
not allowing their dealers to diversify with other brands.
LINK: here
* Indian banks have asked the Reserve Bank of India to
invoke the sunset clause on benchmark prime lending rate (BPLR),
and has argued such a move will reduce interest rates for
customers by 50-75 basis points as they will shift to base rate.
LINK: here
* State Bank of India is closing its one-time
settlement scheme for bad loans of small, micro and medium
enterprises due to disappointing response.
LINK: here

ENERGY/COMMODITIES
* Indian energy major Reliance Industries is
currently producing 29 million standard cubic metres a day
(mscmd) of gas output from its KG D6 block, India's Oil Minister
S Jaipal Reddy said on Tuesday.
* A panel of Indian officials, including those from the
upstream regulator, have declared three gas discoveries in
Reliance Industries KG D6 block as commercial, subject
to certain conditions, an oil ministry official said. Reliance's
budgeted expenditure on key gas fields from the D6 block for the
three fiscal years 2010/11, 2011/12, and 2012/13 has also been
approved, with some conditions.
* The Coal India Ltd board on Tuesday approved a
proposal that would make the state-run monopoly pay a hefty
penalty to power producers if it fails to supply at least half
of the contracted quantity.
LINK: here
* Irish building materials group CRH Plc said it was
in talks to pick up an equity stake in Jaiprakash Associates'
cement operations in the western Indian state of
Gujarat.

TELECOMS
* India's new spectrum pricing will drive consolidation in
the telecom sector and lead to higher industry tariffs, Fitch
Ratings says. The agency continues to have a Negative Outlook on
the sector, due to ongoing regulatory uncertainty.

* Tulip Telecom Ltd tied up 4 billion rupees
through debt and internal accruals for redemption of
outstanding FCCBs.
* Tata Consultancy Services and HDFC have
come together to invest in a startup that is in the business of
sports education.
LINK: here
HOSPITALITY
* Promoters of EIH Ltd, which runs the Oberoi and
Trident chain of hotels, are likely to increase their stake in
the company to more than 40 per cent.
LINK: here

AUTOS
* About 30 trade unions in the region today petitioned the
state administration for a Central Bureau of Investigation (CBI)
enquiry into the violence at Maruti Suzuki India's
Manesar unit on July 18.
LINK: here
* The Haryana labour department on Tuesday initiated
conciliatory talks between the workers and the management of
Honda Motorcycle and Scooter India Limited (HMSI).
LINK: here
RETAIL
* Private retail chains Fabindia, Shoppers Stop and a
consortium led by The Bombay Store have been shortlisted to
place financial bids for partnering government-owned Khadi Gram
Udyog Bhawan in running and marketing about 10 of its mega
stores across the country.
LINK: 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
* Yen softer, risk still buoyed in thin market
* Oil at 12-wk high on N.Sea output drop, stimulus hope
* Foreign institutional investor flows
* For closing rates of Indian ADRs

(Compiled by Divya Chowdhury & Abhishek Vishnoi; Editing by
Subhadip Sircar)