Indian stocks to watch-Nov 20

Tue Nov 20, 2012 8:44am IST

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Stocks

   

GLOBAL MARKET NEWS   
    * Nifty futures on the Singapore Exchange rose 0.2
percent. The MSCI-Asia Pacific index excluding Japan  
 was up 0.6 percent.                 
    * U.S. stocks bounced higher for a second consecutive
session on Monday as investors were encouraged by the early
atmosphere surrounding talks to tackle the nation's fiscal
crunch.   
    * Asian shares rose on Tuesday on hopes of a compromise in
the U.S. fiscal crisis, while the euro fell after Moody's
Investors Service scrapped France's top-notch credit rating,
reminding investors of the protracted euro zone debt crisis. 
      
      
    FACTORS TO WATCH
     * Finance Minister P. Chidambaram will be in Bangalore for
a meeting with the chief ministers of South Zone states.
    * The Reserve Bank of India Governor Duvvuri Subbarao will
give an address on 'G 20 and India' in Mumbai (Event starts at
1230 GMT)
      
    INDIAN STOCKS TO WATCH
For additional press items double click 
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.

    ENERGY/COMMODITIES
    * Tata Steel will continue to pursue a
cost-cutting target of 12 billion rupees set for 2012-13 for its
domestic operations, said Tata Steel managing director HM
Nerurkar.  (Financial Express)
here
    * The Home Ministry has allowed Essar Ports and
Adani Ports and Special Economic Zone to bid for the
mega container terminal project in Chennai. (Economic Times)
here
    * The Reserve Bank of India directed banks not to give loans
for purchase of gold in any form, including primary gold,
bullion and jewellery, to dissuade people from indulging in
speculative activity. (Economic Times)
here
    * Monnet Ispat and Energy Ltd is targeting to buy
a majority stake at a coal mine in Colombia, said N.C. Jha, CEO
of the Mining Business division. (Business Line)
here

    FINANCIAL/REGULATORY
    * Insurance sector regulator IRDA is objecting to the
finance ministry's plan to allow Life Insurance Corporation
(LIC) to own up to 25 percent of a listed company. (Economic
Times)
here
    * Officials of the Foreign Investment Board will meet
Tuesday to discuss the potential implications in India from a
recent report by the U.S. Congress Panel that said Huawei
Technologies and ZTE Corp  posed a
security threat. (Economic Times)
here
    
    RETAIL
    * Dairy giants Danone is among potential acquirers
of a controlling stake in Tirumala Milk Products after promoters
and private equity investor Carlyle Group started work on a
share sale plan, said sources directly familiar with the
process. (Times of India)
here
    
    AUTOS
    * Honda Motor Co on Monday announced the recall of
11,500 units of standard variant of its premium motorcycle CBR
250R, which were produced and sold in India, due to a defective
brake system. (Times of India)
here
    
    AIRLINES
    * Air India Ltd is undertaking a series of steps to
rid itself of debt while hoping to post an operating profit by
the end of fiscal 2013 and a net profit by 2020, according to
two senior airline executives. (Mint)
here
    
    IT
    * Polaris Financial Technology  is planning to
allocate $100 million to acquire two to three product firms in
four years, as part of its new plans to double its revenue, said
Arun Jain, chairman of Polaris. (Business Standard)
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 slips after Moody's cuts France; yen awaits BOJ   
* Oil rises 2.5 pct on Mideast tensions, US optimism      
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      

 (Compiled by Manoj Rawal; Editing by Rafael Nam)
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