Stocks | Thu Dec 13, 2012 8:42am IST

Indian stocks to watch-Dec 13

GLOBAL MARKETS ROUNDUP   
    * Nifty futures on the Singapore Exchange rose 0.19
percent higher. The MSCI-Asia Pacific index excluding Japan
 was also up 0.2 percent.      
    * U.S. stocks ended nearly flat on Wednesday, giving up most
of the day's gains after Fed Chairman Ben Bernanke reiterated
that monetary policy won't be enough to offset damage from the
"fiscal cliff."  
    * Asian shares extended gains for a seventh day on Thursday,
after the U.S. Federal Reserve took new stimulus steps to
bolster the economy.   
       
    FACTORS TO WATCH   
    * Gujarat state goes to the polls. 
    * Indian Prime Minister Manmohan Singh attends a telecoms
event. 
    * Indian cabinet to discuss airwave auction reserve price   
    * India chief economic adviser Rajan to address news
briefing. (0630GMT) 
    
    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
    * The U.S. Federal Reserve, announcing a new round of
monetary stimulus, took the unprecedented step on Wednesday of
indicating  interest rates would remain near zero until
unemployment falls to at least 6.5 percent. 

    ENERGY/COMMODITIES
    * India raised $1.1 billion selling a stake in miner NMDC
Ltd in a fillip for its efforts to rein in a widening
fiscal deficit through sales of state assets. (Reuters)
 
    * ONGC is set to undertake exploratory drilling
work in three offshore oil and gas blocks in Krishna-Godavari
basin soon, according to sources close to the development.
(Press Trust of India in Economic Times)
here
    * DP World is set to exit its container handling
terminal at Mundra Port, India's largest private port, according
to sources close to the development. (Financial Express)
here
    * Holcim has decided to back off from its earlier
plan to charge royalties for technology transfer from its Indian
subsidiaries, ACC and Ambuja Cements, at a
higher rate, according to a source close to the development.
(Business Standard)
here
    * GMR Infrastructure is planning to seek
compensation of over $800 million from the government of Mali 
for being forced to hand over operations at the Male airport,
said the CFO of GMR Airports Sidharath Kapur. (Economic Times)
here
    * The Bombay High Court has asked Vedanta Aluminum to
deposit a security amount of 1.87 billion rupees with the court,
till the arbitration proceedings over a plea filed by Chinese
Shenzen Shandong Nuclear Power Construction Company power reach
a definitive conclusion. (Economic Times)
here
    * The Maharashtra state government is considering diluting
its stake in its generation and transmission companies,
Maharashtra State Power Generation Co and Maharashtra State
Electricity Transmission Co , through public offerings. 
    State energy minister Rajendra Tope confirmed the
government's move. -+(Business Standard)
here
    * Adani Gas, a wholly owned subsidiary of Adani Enterprises
Ltd, will soon buy a 20 per cent stake in Green Gas, a
joint venture between Indian Oil Corp and GAIL India
, according to executives in both companies.
    Adani will buy the equity from the Aditya Vikram Birla Group
and financial institutions IDFC and UTI, which
together hold 50 per cent stake in Green Gas. (Business
Standard)
here
    
    FINANCIAL
    * Srei Infrastructure Finance has obtained SEBI's
approval to launch a $1 billion (54.3 billion rupees)
infrastructure debt fund next January. (Economic Times)
here

    TELECOMS    
    * India's mobile phone subscriber base declined by a net
2.39 million in October to 904.23 million, the fourth straight
monthly fall, due to a slowdown in gross additions and as
carriers continued to disconnect inactive users. (Reuters)
 
    
    PHARMA
    * Pfizer has approached the Delhi High Court for a
stay on Cipla, to prevent it from selling a
generically-similar version of sunitinib, a liver and kidney
cancer drug, in the local market. (Business Line)
here
    
    RETAIL
    * Gitanjali Group has acquired two well known Indian
jewellery brands, Nirvana and Viola through its subsidiary
Spectrum Jewellery Ltd. (Economic Times)
here

NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    
    

 (Compiled by Dipika Lalwani; Editing by)

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