Indian stocks to watch-Dec 14

Fri Dec 14, 2012 8:44am IST

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GLOBAL MARKETS ROUNDUP   
    * Nifty futures on the Singapore Exchange rose 0.2
percent higher. The MSCI-Asia Pacific index excluding Japan
 was 0.56 percent down.      
    * The S&P 500 ended its six-day winning streak on Thursday,
retreating as worries intensified that Washington's "fiscal
cliff" negotiations were dragging on with little progress. 
  
    * Asian shares snapped a week-long winning streak on Friday,
tracking global equities lower, on concerns that U.S. lawmakers
are still too far apart to avert a fiscal crisis with an
end-of-year deadline looming.   
       
    FACTORS TO WATCH   
    * India finance ministry conference on reviving economic 
growth. (0400GMT)             
    * India November WPI inflation. (0630GMT) 
    * Bharti Infratel IPO closes.
    
    INDIAN STOCKS TO WATCH
For additional press items double click 
    
    TOP NEWS
    *  Indian inflation probably picked up in November as a weak
currency pushed up the price of imported fuel, adding to the
challenges facing a central bank torn between fighting rising
prices and an economic slowdown, a Reuters poll showed.
(Reuters) 
   * India's cabinet approved the creation of a special panel on
Thursday with watered-down powers to speed up the notoriously
slow implementation of big-ticket infrastructure projects.
(Reuters) 
  * India approved a new policy to encourage investment in urea
manufacturing, a senior minister told reporters on Thursday, a
move likely to expedite $6.5 billion in projects that have been
held back and to reduce the country's reliance on imports.
(Reuters) 
  * The Indian cabinet approved a 30 percent cut in the reserve
price of mobile phone airwaves in four telecommunication zones,
a minister said on Thursday, after carriers shunned last month's
auction in those zones saying the prices were too high.
(Reuters) 

     ENERGY/COMMODITIES
    * Ambuja Cements Ltd board approved the payment of
Technology and Know-how Fees to Holcim Ltd., Switzerland, at the
rate of 1 percent of the net annual sales of the company, to be
effective from January 01, 2013. (Reuters) 
    *     India, the world's biggest sugar consumer, is expected
to decide on raising the import duty on the sweetener in a
fortnight, Food Minister K.V. Thomas said on Thursday, as lower
prices in the world market made room for such imports in the
past two months. (Reuters) 
    * JSW Steel, India's largest private sector
steelmaker, plans to raise production if iron ore supplies
improve. (Economic Times)
link.reuters.com/suq64t
    * The government has advised power generating utilities to
import 46 million tonnes of coal in the current fiscal to bridge
the gap between demand for coal and its domestic supply, power
minister Jyotiraditya Scindia said on Thursday. (Economic Times)
link.reuters.com/tuq64t

    FINANCIAL
    * Moody's has affirmed debt and deposit ratings and revised
outlook to negative of three Indian banks, Bank of Baroda
, Canara Bank and Punjab National Bank
. (Reuters) 
    * State Bank of India Chairman Pratip Chaudhuri is
slashing costs for consumers and shutting or pruning
unprofitable businesses as he tries to make the country's
biggest bank more nimble-footed than private players and steer
it away from the legacy of unviable ventures. (Economic Times)
link.reuters.com/puq64t
    * Maintaining negative outlook on the country's banking
sector, Fitch Ratings said gross bad assets of domestic banks
could reach 4.2 percent of advances this fiscal and the asset
quality could remain stressed over the next year. (Press Trust
of India in Economic Times)
link.reuters.com/quq64t
    * Around half a million employees representing various
public sector banks are planning to go on strike on December 20
against government's plans to push an amendment to the Banking
Laws. (Business Standard)

    REALTY
    * Indian billionaire Anil Ambani's Reliance Group and
China's Dalian Wanda Group on Thursday announced a tie-up to
develop real estate and movie theatre projects, the latest
partnership between Ambani and China. (Reuters) 
    
   AVIATION
    * Reviewing its earlier decision to abolish airport
development fees from January 1, 2013, the government has now
proposed to halve the charge by spreading it over a longer
tenure. (Economic Times)
link.reuters.com/nuq64t
    
    POWER/INFRA
    * Power plants producing 50,000 mw, or nearly a quarter of
India's total capacity, will have to cut tariffs as the Calcutta
High Court has said regulators cannot fix provisional tariffs
for new units, which consumers say are abnormally high.
(Economic Times)
link.reuters.com/ruq64t
    * Developers of special economic zones (SEZs) in Maharashtra
that have had to scrap their projects or defer them in the face
of problems acquiring land or following unfavourable changes in
tax laws may be able to revive them if the state government goes
ahead with a plan to allow them to develop the real estate they
have already acquired. (Mint)
link.reuters.com/vuq64t
    
    AUTO
    * TVS group may lose control in Wheels India, if Titan
International group receives full response to its open offer to
the public shareholders of the auto ancillary company. (Business
Line)
link.reuters.com/wuq64t
    
  * 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 poised for another sorry week as BOJ looms         
                         
* Oil falls as fiscal cliffhanger fuels caution           
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      
 

 (Compiled by Manoj Rawal; Editing by Subhadip Sircar)
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