Indian stocks to watch-Nov 30

Fri Nov 30, 2012 8:42am IST

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Kishore Pandey, 82, lies on a bed as his daughter, Usha Tiwari, holds him and a priest stands by them (L) at Mukti Bhavan (Salvation House) in Varanasi, in the northern Indian state of Uttar Pradesh, June 19, 2014. REUTERS/Danish Siddiqui

Waiting to die at Salvation House

The city of Varanasi is Hinduism's holiest city and many Hindus believe that dying there and having their remains scattered in the Ganges allows their soul to escape a cycle of death and rebirth.  Slideshow 

GLOBAL MARKETS ROUNDUP  
    * Nifty futures on the Singapore Exchange rises 0.45
percent. The MSCI-Asia Pacific index excluding Japan
 is up 0.65 percent.     
    *  U.S. stocks finished higher on Thursday as investors
bought on sporadic dips in a market roiled by conflicting
comments from Washington about negotiations on an agreement to
avoid the "fiscal cliff."  
    * Asian shares edged up on Friday on expectations a deal
will eventually be reached to avoid a U.S. fiscal crisis, but
investors wary about taking big positions before the year-end
were likely to take profits on the rises and buy on dips.
  
      
    FACTORS TO WATCH  
    * India to release Sept quarter GDP data at 0530GMT.
    * Bharti Infratel IPO presser at 0415GMT.
    * India will release infrastructure output data for October
at 0630 GMT.
    * India to release federal budget deficit data for April-Oct
at 1030 GMT.
    * RBI to release forex reserves, bank lending data at
1130GMT.
    * CEC is likely to submit report on illegal mining in Goa at
Supreme Court with its recommendations.
    * FMC chief Ramesh Abhishek at India Commodity Exchange
press conference.
                
    INDIAN STOCKS TO WATCH
For additional press items double click 
   
     MACRO/POLICY
    * India and Brazil accused rich nations on Thursday of doing
too little to fight climate change at U.N. talks in Doha and
denied that emerging economies were back-sliding from pledges to
step up action from 2020. (Reuters) 
    * India's central bank will buy 120 billion rupees ($2.2
billion) of federal government bonds on Dec. 4 through open
market operations (OMO), it said in a release on Thursday.
 
 
    FINANCE
    * The Central Vigilance Commission is examining a reference
received from Punjab National bank involving 24 of its officials
in an alleged fraud involving over 25 billion rupees. (Press
Trust of India in Economic Times)
link.reuters.com/zez34t
    
    TELECOM
    * Bharti Infratel Ltd, the telecommunications tower unit of
top Indian phone carrier Bharti Airtel, is likely to
raise up to $825 million in what would be the country's biggest
IPO in two years, sources with direct knowledge said. (Reuters)
 
    * The telecom department (DoT) plans to simultaneously sell
unsold spectrum from the recently concluded auctions along with
a portion of airwaves held by existing operators such as Bharti
Airtel, Idea Cellular and Vodafone in the 900
MHz frequency before March 31, 2013, as the government scrambles
to meet its target of raising 400 billion rupees from the sale
of airwaves in the current fiscal, said a ministry official.
(Economic Times)
link.reuters.com/jez34t
    
    AVIATION
    * India's civil aviation ministry will try to convince the
country's petroleum ministry next week to declare jet fuel as a
"notified good," which would lead to exemption from high state
taxes, providing some relief to battered local carriers.
(Reuters) 
          
    PHARMA
   * German drugmaker Bayer has filed a lawsuit in
the United States against Indian generic drug maker Lupin
, to prevent it from selling a version of Bayer's
birth-control pill Natazia in the U.S. (Reuters) 
   * Glenmark Pharmaceuticals said it is aiming for up
to 30 percent growth in revenues this fiscal to touch 50 billion
rupees, with US and Latin America expected to be primary
drivers. (Press Trust of India in Economic Times)
    
   MEDIA/ENTERTAINMENT 
   * Indian group PVR is to buy control of rival
Cinemax India for 3.95 billion rupees ($71 million) to
create the country's biggest operator of multi-screen movie
theatres. (Reuters) 

    AUTO
   * British sports car maker Aston Martin said it is in
"advanced" talks with potential investors over an injection of
capital into the business. Indian tractor maker Mahindra and
Mahindra last week topped an offer from Italian
private equity fund Investindustrial that had been agreed with
Aston's owner, Kuwaiti investment house Investment Dar, sources
said. (Reuters) 
  * US car major Ford today said it will make India its
export hub with plans to sell its products in more than 50
countries over a period of time. (Press Trust of India in
Economic Times)
link.reuters.com/gez34t
  * Hero MotoCorp, the world's largest two-wheeler
manufacturer, reported record retail sales in the festive season
this year. HMCL has already retailed over 1.1 million
two-wheelers in the festive months of October and November.
(Economic Times)
link.reuters.com/kez34t
   * The country's leading automobile company Tata Motors
 will halt production at its block in Jamshedpur for
three days from Thursday, following poor demand. (Press Trust of
India in Economic Times)
link.reuters.com/mez34t
   * Elgi Equipments Ltd, a manufacturer of air
compressors and automobile service station equipment, has
acquired 100 percent stake in Patton's Inc. The company did not
disclose the value of the deal. (Business Standard)
link.reuters.com/sez34t
                   
    RESOURCES
    * The Indian government's share sell down in state-run miner
NMDC Ltd to raise roughly $1.2 billion is likely to be
launched on Dec. 13, three sources with direct knowledge of the
situation said on Thursday. (Reuters) 
    * The Oil Ministry will raise the cap on supply of
subsidised cooking gas (LPG) to 9 cylinders per household in a
year provided the Finance Ministry agrees to give an additional
30 billion rupees in 2012-13. (Press Trust of India in Economic
Times)
link.reuters.com/nez34t
    * Amidst government directive to PSUs to invest their
surplus funds, Coal India Ltd, which is sitting on
huge cash-pile, has lined up 500 billion rupees investment plans
for the next five years. (Press Trust of India in Economic
Times)
link.reuters.com/pez34t
   * Lanco Infratech's Australian subsidiary Griffin
Coal, which supplies coal to Bluewaters Power Station, is likely
to gain 150 million Australian dollars (8.7 billion rupees), on
revision of fuel prices after the power producing firm is sold
to a Japanese consortium. (Press Trust of India in Economic
Times)
link.reuters.com/qez34t
     
    POWER/INFRA
    * Faced with a double whammy of depleting order inflows and
profits, Siemens India plans to cut capital
expenditure. (Business Standard)
 link.reuters.com/rez34t
    * The defence ministry has initiated a vigilance inquiry
into Mumbai-based Mazagon Dock Ltd's move to set up joint
ventures with private sector players in the face of allegations
that these might be in violation of government guidelines,
ministry sources said. (Economic Times)
link.reuters.com/xez34t

        
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 holds below 1-mth high                            
                                            
* Oil up on U.S.budget optimism                           
   
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      


 (Compiled by Manoj Rawal; Edited by Subhadip Sircar)
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