Indian stocks to watch-Dec 7

Fri Dec 7, 2012 8:24am IST

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Stocks

   

GLOBAL MARKETS ROUNDUP  
    * Nifty futures on the Singapore Exchange 0.2
percent higher. The MSCI-Asia Pacific index excluding Japan
 is also 0.52 percent up.     
    *  U.S. stocks closed modestly higher on Thursday, a day
ahead of the key monthly jobs report, as a rebound in shares of
Apple helped boost technology shares.  
    * Asian shares ticked up to a 16-month high on Friday
following modest overnight gains in global equities as investors
watched progress in U.S. budget talks and awaited U.S. nonfarm
payrolls data later in the day.  
      
    FACTORS TO WATCH  
    * India's upper house to vote on allowing FDI in multi-brand
retail.
    * India cbank deputy governor Subir Gokarn at industry event
in Kolkata. (0430GMT)
    * Indian ministerial panel meeting on airwave auction.
    * Asian Venture Capital Journal's India Forum in Mumbai.
    * Supreme Court order on Karnataka mining.
    * RBI to release forex reserves, bank loan data.
                                                           
    INDIAN STOCKS TO WATCH
For additional press items double click 
   
     MACRO/POLICY
    * The leader of a powerful regional party said on Thursday
she would back the Indian government in a parliamentary vote on
its plan to allow in foreign supermarkets, virtually ensuring
that an opposition motion against the reform will be defeated.
(Reuters) 
    * India's inflation is expected to trend lower during
January-March, the Reserve Bank of India Governor Duvvuri
Subbarao said on Thursday, a month after he had indicated the
central bank might ease monetary policy as early as January.
(Reuters) 
    * The Asian Development Bank slightly lowered its 2012 and
2013 growth estimates for developing Asia on Friday as frail
global demand drags on the region despite indications that
China's economy has bottomed out. (Reuters) 
    * The government plans to revolutionise the retail sector to
make India a global shopping hub, with new labour laws to
support 24-hour business, limiting reckless multiplication of
malls to prevent urban chaos, and strong measures to ensure
small shopkeepers also thrive in the transformation. (Economic
Times)  
link.reuters.com/buh54t
    * The government will move a crucial bill on Monday to amend
the banking law while the finance ministry will engage with
foreign institutional investors to hear out their concerns.
(Economic Times)
 link.reuters.com/duh54t
    * The United States will likely give on Friday another
six-month reprieve from financial sanctions to India, South
Korea, Turkey and others because they have reduced their
purchases of crude oil from Iran, two U.S. government sources
said on Thursday. (Reuters) 
   * The Union Cabinet deferred decision on setting up National
Investment Board (NIB) as Prime Minister Manmohan Singh wanted
more inter-ministerial discussions on the proposal. (Press Trust
of India in Economic Times)
link.reuters.com/guh54t
  *  India's central bank will buy up to 120 billion rupees
($2.22 billion) of federal government bonds on Dec. 11 through
open market operations (OMO), it said in a release on Thursday.
 
 
    FINANCE
    *  India's BSE Ltd, the former Bombay Stock Exchange which
has lost market share to rivals, has chosen 14 banks for a share
offering planned for the first half of 2013, its chief executive
said. (Reuters) 
    * The International Finance Corporation (IFC), part of the
World Bank Group, said it is open to the idea of partnering with
Religare Enterprises in its proposed banking foray.
(Press Trust of India in Economic Times)
link.reuters.com/juh54t
    
   IT/TECH
   * BT PLC is in the process of selling its last tranche of
9.09 percent stake in Tech Mahindra, in a transaction
to be done via block deals on the stock market, to raise close
to 10 billion rupees. (Business Standard)
    
   AVIATION
   * Lenders to Kingfisher Airlines will meet promoter
Vijay Mallya on Dec. 17 to decide the way forward for the
grounded airline which has defaulted on 70-billion rupees debt.
(Economic Times)
link.reuters.com/cuh54t
    * India's oldest airline Air India Ltd is expected to post a
net loss of 42.7 billion rupees in the current fiscal year,
according to an internal estimate, in a turnaround that some
experts and airline executives see as a validation of its
revival plan. (Mint)
link.reuters.com/muh54t
     
     TELECOM
    * Millions of mobile phone users in India may have to look
for new service providers with three telecom operators likely to
switch off their networks from January 18. However, the imminent
shutdown offers a window of opportunity for other operators to
pick up these subscribers. (Economic Times)
link.reuters.com/fuh54t
    * Malaysian tycoon T Ananda Krishnan will remain a sizeable
minority investor in the Indian mobile telephony company Aircel
Communications as he discusses an investment deal with Russia's
Sistema JFSC. (Economic Times)
link.reuters.com/huh54t
   
     AUTO
    * General Motors Co's Indian unit said on Thursday it
will increase the price of cars it sells in the country by 1-3
percent from January 2013 due to high input costs and currency
fluctuation. (Reuters) 
    * Italian private equity fund Investindustrial is likely to
announce it will invest in British sportscar maker Aston Martin
on Friday, two people familiar with the matter said on Thursday.
(Reuters) 

    RESOURCES/ENERGY
    * Indian group Jindal Steel and Power will invest
around $500 million in Cameroon to build a power plant, a
railway line and an iron ore processing plant, Cameroon's state
radio reported, citing the country's mines ministry. (Reuters)
 
    * India's Reliance Industries is planning to shut
a crude distillation unit and a secondary unit for planned
maintenance at its newer 580,000 barrels-per-day (bpd) Jamnagar
refining complex in January, industry sources said on Thursday.
(Reuters) 
   * India's thermal and coking coal imports jumped 73 percent
to 10.6 million tonnes in October from a year ago, provisional
figures provided by two government sources showed, as thermal
coal shipments more than doubled. (Reuters) 
   * Oil and Natural Gas Corp, which trumped a strong
bid by archrival China National Petroleum Corp to bag
ConocoPhillips' stake in Kazakhstan's giant Kashagan oilfield,
has won project operator Eni's approval for its $5-billion
acquisition. (Press Trust of India in Business Standard)
   * The Supreme Court on Thursday deferred the hearing on the
petition challenging cancellation of forest clearance of
Niyamgiri bauxite mine belonging to Odisha Mining Corporation
(OMC) to January 11 next year. (Business Standard)
link.reuters.com/kuh54t
     
    INFRA
    * The Maldives has won a court case allowing it to cancel a
$511 million airport development contract with India's GMR
Infrastructure, clearing the way for it to take over
its main airport. (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                   
* Downbeat ECB knocks wind out of euro bulls             
                                            
* Oil falls on euro zone concerns, dollar strength        
   
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      


 (Compiled by Manoj Rawal; Edited by Subhadip Sircar)
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