Indian stocks to watch-Dec 4

Tue Dec 4, 2012 8:36am IST

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Stocks

   

GLOBAL MARKETS ROUNDUP  
    * Nifty futures on the Singapore Exchange 0.14
percent lower. The MSCI-Asia Pacific index excluding Japan
 is also 0.32 percent down.     
    *  U.S. stocks struggled to extend the previous week's
gains, dropping on Monday as disappointing U.S. factory numbers
dampened optimism about China's economic growth.  
    *  Asian shares dipped on Tuesday after U.S. manufacturing
activity hit a three-year low in November, while the euro
hovered near a six-week high on optimism over a planned debt buy
back by Greece.  
      
    FACTORS TO WATCH  
    * The lower house of India's parliament begins a debate on
supermarket reform. 
    * RBI Deputy Governor Subir Gokarn to address economic
conclave at 0430GMT.
    * India's Supreme Court to issue order in Sahara case.
                                       
    INDIAN STOCKS TO WATCH
For additional press items double click 
   
    MACRO/POLICY
    *     The Indian navy is prepared to deploy vessels to the
South China Sea to protect India's oil interests there, the navy
chief said on Monday amid growing international fears over the
potential for naval clashes in the disputed region. (Reuters)
 
    *     Reserve Bank Deputy Governor Subir Gokarn said the
fiscal deficit is likely to be around 5.5 percent of the GDP
this financial year, which is creating stress on the inflation
front. (Press Trust of India in Economic Times)
link.reuters.com/qyn44t
    * India's foreign direct investment inflows more than
doubled to $4.67 billion in September, according to an official
of the Department of Industrial Policy and Promotion (DIPP).
(Press Trust of India in Economic Times)
link.reuters.com/syn44t
    
    FINANCE
    * Competition Commission of India, the fair play watchdog,
has decided to look into the common, 4 percent interest rate
being paid by all state-run banks on savings bank deposits
despite the Reserve Bank of India moving to an unregulated
regime in October 2011. (Economic Times)
link.reuters.com/tyn44t
    
    PHARMA
    * A division bench of the Delhi high court has asked Cipla
Ltd to prove that its anti-lung cancer drug doesn't
infringe a patent belonging to Swiss drugmaker F. Hoffmann-La
Roche Ltd for its drug Tarceva. (Mint)
link.reuters.com/myn44t
    
    IT
    * Chip designer Texas Instruments, the first global
corporation to identify India's technology prowess by setting up
a development centre in the 1980s, is shedding a few hundred
employees in India as part of a global restructuring. (Economic
Times)
link.reuters.com/ryn44t
              
    AVIATION
    * Jet Airways might raise 16 billion rupees from
the sale of its 24 percent stake to Etihad Airways, a government
official said, as the deal is nearing closure following the
Cabinet's approval of foreign direct investment. (Business
Standard)
link.reuters.com/jyn44t
    * The aviation ministry is considering divesting a part of
Air India Ltd's engineering subsidiary next year, after hiring a
foreign executive to head it, said two government officials
involved in the discussions. (Mint)
link.reuters.com/kyn44t
    
     AUTO
   *  TVS Motor is in talks with BMW to forge a
long-term technology partnership with the German luxury car and
bike maker, a top company executive said. (Economic Times)
link.reuters.com/pyn44t
   * Everstone Capital, which manages assets worth $1.8 billion,
is in talks to buy a majority stake in auto parts maker Agile
Electric Drives Technologies and Holdings, which is also the
parent of the publicly listed Igarashi Motors India,
according to banking sources briefed on the matter. (Times of
India)
link.reuters.com/zyn44t
    
    RESOURCES/ENERGY
    * Steel Authority of India and the world's fourth
largest steel maker POSCO may abandon their planned joint
venture to set up a 160-billion rupees steel plant in Bokaro,
Jharkhand, as the two firms failed to reach common ground over
the share of ownership, two persons privy to the development
said. (Financial Express)
link.reuters.com/nyn44t
    * The oil ministry is poised to approve Reliance Industries'
 investment plans for the controversial KG-D6 block,
setting the stage for reversing the sharp decline in output by
developing new fields, government sources said. (Economic Times)
link.reuters.com/vyn44t
    * Coal India will soon sign a pact with the South
African government for exploration of coal blocks and for
setting up a separate subsidiary in that country, sources said.
(Business Standard)
link.reuters.com/cap44t
    
    POWER/INFRA
    * The private equity arm of Standard Chartered is leading
the race to invest more than 2.5 billion rupees, or $50 million,
to acquire a significant minority stake in port management and
marine services company Ocean Sparkle Ltd, said people familiar
with the matter. (Times of India)
link.reuters.com/xyn44t
    * Engineering & construction giant Larsen & Toubro 
is setting up one of the largest residential projects in Mumbai
- measuring up to two million square feet over 20 acres of
vacant land on its Powai campus in Mumbai. (Business Standard)
link.reuters.com/bap44t
    
    MEDIA
    * Eros International Media Ltd said Eros and HBO
will announce a strategic partnership on Dec. 06, 2012.
(Reuters) 

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 firms against dollar, yen; RBA rate decision awaited 
                                             
* Brent oil falls as weak US data offsets China optimism  
   
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      


 (Compiled by Manoj Rawal; Edited by Subhadip Sircar)
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