Indian stocks to watch-Jan 7

Mon Jan 7, 2013 8:50am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

GLOBAL MARKETS ROUNDUP    
    * Nifty futures on the Singapore Exchange rose 0.26
percent. The MSCI-Asia Pacific index, excluding Japan
 was flat.      
    * Asian stocks drifted as investors booked profits from a
New Year rally that had pushed markets to multi-month highs, but
financial stocks gained after global regulators decided to relax
draft plans for tough new bank liquidity rules.   
    * The benchmark Standard & Poor's 500 index ended at
a five-year high on Friday, lifted by reports showing employers
kept up a steady pace of hiring workers and the vast services
sector expanded at a brisk rate.  
      
    EVENTS TO WATCH  
    * An Indian ministerial panel will meet to discuss the
government's plan for the next airwave auction. (0430 GMT) 
    * RBI Deputy Governor K.C. Chakrabarty and finance ministry
officials will be at a pre-budget discussion with bankers and
representatives of financial institutions in New Delhi. (0630
GMT) 
    * RBI Deputy Governor Anand Sinha to attend a discussion
session on issues and concerns in the non-banking finance
sector. (1030 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
    * Intercontinental Exchange and CME Group Inc will
launch foreign exchange futures contracts on the Indian rupee on
January 22 and 28, respectively. (Financial Chronicle)
here
    * The finance ministry is pitching for removal of gold
jewellery from the list of items allowed to be imported from
Thailand at concessional duty under the bilateral treaty it has
with India, said a customs official privy to the development.
(Economic Times)
here
    * The government has ruled out the possibility of any public
sector bank coming up with a public offer in the current fiscal,
and plans to infuse capital in banks through the preferential
placement route, a finance ministry official said.
    The official added the aim is to infuse about 158 billion
rupees by March-end and maintain a 58 percent stake in state-run
banks. The top three banks that require immediate capital
infusion are Indian Overseas Bank, Central Bank of
India, and Bank of Maharashtra.
here
    * South African lender FirstRand wants to sell its stake in
Asset Reconstruction Co. (India) Ltd, or Arcil, the country's
largest asset reconstruction company, said Neels Els, a senior
investment professional in the principal investments business of
FirstRand Group South Africa. (Mint)
here
    * The capital markets regulator on Friday unveiled proposals
to strengthen corporate governance at Indian companies in a move
to match best global practice and win back investor confidence.
(Reuters) 
    
    ENERGY/COMMODITIES
    * India has shortlisted six banks, including Goldman Sachs
, Citigroup and Morgan Stanley, for a
selldown of state shares worth $2.3 billion in power producer
NTPC Ltd,  three sources with direct knowledge of the
sale said. (Reuters) 
    * Two people were killed by a fire at a fuel storage
terminal of state-run Indian Oil Corp in Hazira in
Gujarat state on Saturday. (Reuters) 
    
    TELECOM
    * Vodafone Group Plc said on Saturday it has
received a reminder from Indian tax authorities on disputed tax
dues over its 2007 acquisition of Indian mobile assets.
(Reuters) 
    Separately, Vodafone has invited the government to engage
with it to find an amicable solution to its multi-billion-dollar
tax dispute in India, The Economic Times reported, citing a
letter seen by the newspaper to Revenue Secretary Sumit Bose on
Jan. 5. (Economic Times)
here
    * State-owned Bharat Sanchar Nigam Ltd is set to
buy telecom gear worth 4 billion rupees ($72.58 million)from
China's Huawei to upgrade its landline network, top company
executives aware of the development told ET. (Economic Times)
here
    
    MEDIA
    * eBay Inc is considering a minority investment in
Snapdeal, as the U.S. company weighs options in India's digital
commerce industry, said people briefed on the matter. (Times of
India)
here
   
    AIRLINES
    * The civil aviation ministry has decided to scrap the
existing rule that makes it mandatory for domestic airlines to
deploy 10 per cent of capacity on non-viable routes like the
Northeast, The Business Standard reported without citing
sources. (Business Standard)
here
   
    * Top aviation ministry sources said Kingfisher Airlines
Ltd's international flying rights could be given to
other Indian carriers, along with its airport slots, in the
coming summer schedule if the carrier does not resolve renew its
flying license. (Economic Times)
here
        
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    
    

($1 = 55.1150 Indian rupees)

 (Compiled by Manoj Rawal; Editing by)
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