Indian stocks to watch-Jan 4

Fri Jan 4, 2013 8:45am IST

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Stocks

   

GLOBAL MARKETS ROUNDUP   
    * Nifty futures on the Singapore Exchange fell 0.15
percent. The MSCI-Asia Pacific index, excluding Japan
 fell 1 percent.     
    *  Asian shares fell on Friday, tracking overnight weakness
in global equities after several Federal Reserve officials
expressed concerns about continuing to expand stimulative bond
buying, but the dollar extended gains as U.S. debt yields
rose.  
    * U.S. stocks dipped on Thursday after signs the Federal
Reserve has growing concern about its highly stimulative
monetary policy. 
     
    EVENTS TO WATCH 
    * Dec services PMI (0530 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.
    
    FINANCIAL/REGULATORY
    * SEBI has named Reliance Industries Ltd  and 12
other related entities in the list of 149 firms and individuals
whose consent applications had been rejected. (Business
Standard)
here
    
    ENERGY/COMMODITIES
    * JSW Steel Ltd will raise steel prices by about 2
percent, effective Thursday, due to rising input costs, a
company official said. (Reuters) 
    * Tata Power Co Ltd said it has decided to stop
supplying power to three state-owned distribution companies in
Rajasthan, citing consistent failure to meet payment
obligations. (Financial Express)
here
    * The oil ministry has moved two cabinet notes to supply
more cooking gas cylinders to households and to deregulate
diesel in the next year-and-half after gradually increasing the
price of the fuel by less than a rupee every month. (Economic
Times)
here
   
    * India has extended the debt-restructuring scheme for power
distribution utilities until the end of March due to the failure
of the state governments to commit sovereign guarantees for
bonds to be issued to lenders in lieu of loans, a senior
government official who did not wish to be named said.(Economic
Times)
here
    
    IT
    * Infosys Ltd  has begun sacking employees at the
bottom of the performance pile, returning to a practice it
adopted during the peak of the global economic crisis in 2008
and 2009, according to people familiar with the development.
(Economic Times)
here
    
    AUTOS
    * Great Wall Motor Co Ltd is considering Gujarat
as a potential destination to set up its manufacturing base in
India and is eyeing a potential investment of around 20-30
billion rupees, an unidentified senior state government official
told the Business Standard newspaper. (Business Standard)
here
    * In a move to push sales of electric and hybrid vehicles in
the country, the government is likely to provide subsidies of up
to 150,000 rupees on cars and 50,000 rupees on two-wheelers in
the next financial year, according to two government officials
familiar with the matter. (Mint)
here
    
    AIRLINES
    * Airports Authority of India has warned Kingfisher Airlines
Ltd that it will start taking away space allotted to
the troubled airline at airports across the country if it fails
to submit a "functional" plan by mid-January. (Mint)
here

    PROPERTY
    * Competition Commission of India on Thursday modified the
agreement between DLF Group  and apartment buyers in
its two projects, as the property company was found to have
abused its dominant position. (Business Standard)
    * Punj Lloyd Ltd, through its Singapore-based
subsidiary Sambawang Engineers and Constructors, on Thursday
made a counter offer to purchase construction assets of
Australia's Macmohan Holdings for A$25 million, A$5 million more
than rival Singapore-based Leighton offered. (Economic Times)
    The Sambawang spokeswoman told The Economic Times the
purchase will be funded from the cash on Sambawang's balance
sheet, but did not divulge more financial details.
here
    
    PHARMA
    * The Supreme Court directed the health ministry to monitor
and regulate all clinical trials of experimental drugs in the
country until further notice and observed that unregulated
trials have caused "havoc." (Mint)
here

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

 (Compiled by Manoj Rawal; Editing by Rafael Nam)
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