Indian stocks to watch-Dec 17
GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange fell 0.27 percent. The MSCI-Asia Pacific index excluding Japan was down 0.3 percent. * U.S. stocks fell on Friday as another slide in Apple took a toll and investors unloaded some shares because of the uncertainty surrounding the "fiscal cliff" negotiations. * The Liberal Democratic Party of Japan's electoral triumph propelled the yen to a 20-month low against the dollar and saw the Nikkei stock average touch a 8-1/2-month high on expectations of much better export earnings. FACTORS TO WATCH * Raghuram Rajan, chief economic adviser at India's ministry of finance, to address conference on the economy of South Indian state of Tamil Nadu. (1030 IST/0500 GMT) 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 * India will speed up the sale of stakes in state companies to revive the stock market and will push ahead with reforms aimed at spurring an investment recovery in the flagging economy, Prime Minister Manmohan Singh said on Saturday. (Reuters) ENERGY/COMMODITIES * The oil ministry may raise prices of diesel by 1 rupee a litre or that of cooking gas by 100 rupees to neutralise the impact of its plan to increase the supply of subsidised cylinders to households, said government officials who requested anonymity. (Economic Times) here * Oil companies have been told by the finance ministry to coordinate with the Reserve Bank of India before stepping out to buy dollars, according to a person who attended the meetings. (Economic Times) here * A government-appointed panel has recommended the end of the controversial system in which oil firms recover their costs from sale of oil and gas in all future contracts and suggested a transparent structure for sharing the output between the government and the contractor. (Economic Times) here * Reliance Industries and its partner BP have shut a seventh well in the D6 block off the country's east coast due to sand and water ingress, bringing down the number of producing wells to 11, a source with direct knowledge of the matter said. (Reuters) * Coal India's output dipped about 2 percent in November from a year ago due to cyclone Neelam and holidays on account of festivals, according to its chairman. (Economic Times) here * The government plans to ask state power utilities to sell surplus land or carbon credits to raise funds and be eligible for the 1.9 trillion rupees debt restructuring package, an unidentified power ministry official was quoted as saying by The Economic Times. (Economic Times) here FINANCIAL/REGULATORY * Life Insurance Corp is selling shares this year, booking a 110 billion rupees profit, to bid for shares in upcoming government sales of companies, said two persons familiar with the thinking. (Economic Times) here IT * Infosys said on Friday it settled a lawsuit filed by former employee Satya Dev Tripuraneni. (Reuters) * Non-traditional markets such as Japan, China and Korea will drive HCL Technologies' next wave of growth, its chairman Shiv Nadar said. (Economic Times) here TELECOMS * The department of telecom is considering a demand by India's top three mobile phone companies -- Bharti Airtel , Vodafone and Idea Cellular -- to allow GSM operators to bid for unsold CDMA spectrum in the 800 MHz band which saw no takers in the recent auction. (Economic Times) here * Bharti Infratel's share sale to raise up to $830 million was subscribed 1.3 times, a weaker-than-hoped for response to the country's biggest initial public offering in two years. (Reuters) AIRLINES * Etihad Airways will decide this week whether to invest in Jet Airways or Kingfisher Airlines, according two persons familiar with development who requested anonymity. (Mint) here AUTOS * Workers at the Gurgaon plant of Hero MotoCorp are demanding a three-to-four times increase in their wages, unidentified sources were quoted as telling ET Now. (Economic Times) here * Renault's move into low-cost cars plans to devise a cheap vehicle programme for India that can compete with such champions of frugality as Maruti Suzuki and Hyundai. (Reuters) INDUSTRIAL * French warship maker DCNS will buy close to 15 percent stake in Nikhil Gandhi-promoted shipbuilder Pipavav Defence & Offshore Engineering for about 13.5 billion rupees, according to people close to the development. (Economic Times) here HEALTH CARE * Fortis Healthcare will sell its majority stake in Dental Corporation Holding, a dental care company in Australia and New Zealand, for around 15.55 billion rupees ($285.06 million) to UK's Bupa Ltd and will use the sale proceeds to pare debt, according to a statement. (Economic Times) here NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy. ($1 = 54.5500 Indian rupees) (Compiled by Manoj Rawal; Editing by Rafael Nam)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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U.S. President Barack Obama ended a landmark day in India on Monday with a pledge of $4 billion in investments and loans, seeking to release what he called the "untapped potential" of a business and strategic partnership between the world's largest democracies. Full Article | Slideshow