Indian stocks to watch-Nov 21

Wed Nov 21, 2012 8:55am IST

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GLOBAL MARKETS ROUNDUP
    * Nifty futures on the Singapore Exchange rose 0.15
percent. The MSCI-Asia Pacific index excluding Japan  
 was up 0.01 percent.                  
    * Wall Street halted its two-day rally on Tuesday, after
Federal Reserve Chairman Ben Bernanke said the central bank
lacks tools to cushion the U.S. economy from the impact of the
"fiscal cliff."    
    * Asian shares steadied on Wednesday, after a two days of
gains, as investors refocused on the risk of a U.S. fiscal
crisis following Bernanke's remarks that the budget impasse was
already damaging growth.       
       
    FACTORS TO WATCH 
    * The Reserve Bank of India's Deputy Governor Subir Gokarn
will address college students in Mumbai on 'The Current Economic
Scenario in India' in the morning. In the evening, Gokarn will
preside over the Exim Bank Commencement Day Annual Lecture on
'Developments in the World Trading System: India's Options'. 
    * The Reserve Bank of India's Deputy Governor Keshab Chandra
Chakrabarty is scheduled to give a keynote address at ASSOCHAM's
8th Annual Banking Summit in New Delhi.

    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.
    
    TOP NEWS
    * India's government aims to pass bills opening up the
insurance and pension sectors to foreign investors in
parliament's  forthcoming session, a minister said on Tuesday,
the next step in a reform programme seen as key to reviving
economic growth. (Reuters) 
    * India received bids worth 150.69 billion rupees ($2.74
billion) in unused foreign debt limits for government and
corporate bonds, more than the 106.16 billion rupees on offer,
two market sources said on Tuesday. (Reuters) [ID: nL4N0902RG]
    * Private equity firm Blackstone has made an offer to
to buy prime office and retail real estate blocks from Vijay
Mallya's investment holding company UB Holdings, said two people
familiar with the developments. (Economic Times)
here
    
    FINANCIAL/REGULATORY
    * Canadian Securities Administrators, the securities market
regulator of Canada, has barred Indian asset management
companies from selling investment products to local investors,
dealing a blow to these fund houses. (Economic Times)
here
    * India's central bank has extended the relaxation of the
period of realization and repatriation to the country of the
full value of goods or software exported by six months. The
relaxation will now be effective till March 31, 2013, the
Reserve Bank of India said in a release. (Reuters)
 
   
    ENERGY/COMMODITIES
    * Reliance Industries and the oil ministry have
narrowed their differences over auditing of the controversial
KG-D6 block and pricing of natural gas, raising hopes of quicker
approvals and development of more fields in the gas-rich region,
government and industry sources said. (Economic Times)
here
    * Jindal Power & Steel has started producing coal
at its mine in Mozambique this month, with first exports
expected by January next year, the company's country head for
Mozambique said at an industry conference on Tuesday. (Reuters)
 
    * The cabinet committee on economic affairs will on Thursday
consider a proposal to sell A 9.5 percent stake in NTPC
. It will also consider a proposal to allow state miner
NMDC to acquire 50 percent stake in Legacy Iron Ore
, a listed Australian entity. (Economic Times)
here
    * Oil & Natural Gas Corp is planning to sell
dollar bonds to fund the $1 billion acquisition of a stake in
oilfields in Azerbaijan, Bloomberg reported on Wednesday.
(Reuters) 
    * Rahul Dhir, the former CEO of Cairn India, is
teaming up with Warburg Pincus to set up an international oil
and gas exploration and production company focused on promising
assets in sub-Saharan Africa, a person close to the transaction
said. (Economic Times)
here
    * Bharat Petroleum Corp Ltd and Oil and Natural
Gas Corp Ltd have put a plan to jointly develop a terminal in
Mangalore on hold, senior executives in both companies said.
(Business Standard)
here
    * The Essar group's Ruias family is working on a plan to
lower its stakes in Essar Shipping and Essar Ports
, said a source close to the developments. 
    A group spokesperson confirmed the stake sale plan in the
Indian companies. (Business Standard)
here
    
    AUTOS
    * Maruti Suzuki  exported 8,300 units of the M800,
an increase of 57 per cent compared to the 5,300-odd units sold
in the corresponding period last year, said Shashank Srivastava,
executive director of international business development at the
auto maker. (Business Standard)
here

    AIRLINES
    * Media baron Kalanithi Maran and his wife Kavery Kalanithi
have resigned from the board of directors of Kal Airways, the
holding company of SpiceJet, according to a
resignation letter reviewed by The Financial Express newspaper
(Financial Express)
    * Domestic passenger traffic fell 15.7 per cent in October,
while government-owned Air India strengthened its
market share to 20.8 per cent. (Business Standard)
here

    TELECOMS
    * Russia's Sistema Shyam is in preliminary discussion with
Aircel to pick up an equity stake, Vsevolod Rozanov, president
and CEO said.
    "We have had preliminary discussions, which also include
them apart from others. But we will not take any decision unless
we are assured our investment in the country is protected,"
Rozanov was quoted as saying by Business Standard. (Business
Standard)
here
    * Tata Teleservices Ltd has begun winding up
operations in the Jammu and Kashmir, north-east and Assam
telecom areas, after deciding against participating in the
auction for radio spectrum in the 800Mhz band, according to an
official in department of telecommunications. (Mint)
here

    RETAIL
    * IKEA is poised to become the first major foreign
company to open wholly owned stores in India after it received a
crucial government clearance to invest 105 billion rupees ($1.9
billion). (Economic Times)
here
    * Diageo Plc will launch a mandatory share tender
offer to buy up to 26 percent additional stake in India's United
Spirits Ltd from public shareholders on Jan. 7, the
manager to the offer said in a notice to the Bombay Stock
Exchange. (Reuters) 
    
    PHARMA
    * The National Pharmaceutical Pricing Authority has imposed
a blanket ceiling on the prices of insulin, irrespective of the
brand. (Business Standard)
here
    
    MEDIA
    * Sam Balsara, the owner of Madison Media, is negotiating
with Japan's Dentsu and as well as U.K.-based WPP
 to sell the Indian domestic advertisement agency,
according to sources close to Balsara. (Economic Times)
here
    
    PROPERTY
    * The realty arm of Bharti Group is in negotiations with DB
Realty to buy a 49 percent stake in a special purpose vehicle
that is developing a plot located in a hospitality district
being developed near the Delhi International Airport, according
to people familiar with the transaction. (Economic Times)
here
    * Holiday Inn Express on Tuesday launched its first property
in the country and the only second in South East Asia at
Ahmedabad. (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                   
* Yen falls broadly, euro pins hope on deal for Greece   
* Oil drops as Gaza truce seen; losses pared on API data  
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      
 

 (Compiled by Manoj Rawal; Editing by Rafael Nam)
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