Indian stocks to watch-Dec 19

GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange rose 0.44
percent. The MSCI-Asia Pacific index excluding Japan
was up 0.43 percent.
* Asian shares rose and the euro hit multi-month
highs on Wednesday as signs of progress in resolving the U.S.
"fiscal cliff" budget crisis and expectations of more aggressive
monetary stimulus from the Bank of Japan lifted riskier assets.
* U.S. stocks rallied on strong volume on Tuesday, capping
off the S&P 500's best two-day run in a month, on
confidence that a deal would be struck in Washington to avoid
painful spending cuts and tax hikes that could hurt the economy.

FACTORS TO WATCH
* Reliance Power's majority shareholders to sell
5.4 pct stake to comply with regulatory norms

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 Indian parliament cleared a path for more foreign
investment in the banking sector by approving a bill to increase
shareholders' voting rights, after dropping a controversial
clause allowing banks to trade in commodity futures. (Reuters)

* India's parliament will not vote during this session on a
long-awaited insurance bill aimed at raising the foreign
investment cap to 49 percent from 26 percent in the industry,
Finance Minister P. Chidambaram said on Tuesday. (Reuters)

* Standard & Poor's on Tuesday raised Greece's sovereign
credit rating to B-minus with a stable outlook from selective
default, citing Europe's efforts to keep the country part of the
euro. (Reuters)

ENERGY/COMMODITIES
* Reliance Industries has agreed to an audit by
the Comptroller and Auditor General of India of its spending in
KG-D6 gas block, the Rajya Sabha was informed by Minister of
State for Petroleum and Natural Gas Panabaaka Lakshmi on
Tuesday. (Press Trust of India via Economic Times)
here
* Russia's Rosneft has invited the overseas
investment arm of Oil and Natural Gas Corp to jointly
explore two blocks in the Sea of Okhotsk, Indian Oil Minister
Veerappa Moily said on Tuesday. (Reuters)
* Videocon Group on Tuesday said it was unlikely to go ahead
with a 200 billion rupees steel and power plants at Jamuria in
West Bengal,managing director Rajkumar N Dhoot said on the
sidelines of an industry event. (Business Standard)
here
* Cargill is investing in India's burgeoning
processed food sector with a $73 million corn milling unit, the
head of its India operation said. (Reuters)
* Gerresheimer AG has acquired a 75 percent stake
in the Delhi-based firm Triveni Polymers for an undisclosed
amount, the German Company said. (Business Standard)
here

FINANCIAL/REGULATORY
* Shriram City Union Finance Ltd has got
competition regulator CCI's approval for a proposed merger of
its two group companies through a multi-stage transaction.
(Press Trust of India via Economic Times)
here

MEDIA
* Bharat Business Channel Ltd, which operates direct-to-home
business services under the Videocon d2H brand, is planning to
raise up to 7 billion rupees via initial public offering (IPO).
(Business Standard)
here

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

(Compiled by Manoj Rawal; Editing by)