Indian stocks to watch-Jan 9

Wed Jan 9, 2013 8:35am IST

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Stocks

   

GLOBAL MARKETS ROUNDUP      
    * Nifty futures on the Singapore Exchange rose 0.1
percent. The MSCI-Asia Pacific index, excluding Japan
 gained 0.4 percent.        
    * Asian shares inched up on Wednesday but the upside was
limited as investors waited warily for corporate earnings season
to kick off in full force, preferring in the meantime to book
profits from a sharp rally at the start of the year. 
    
    * U.S. stocks fell on Tuesday, retreating from last week's
rally on the "fiscal cliff" deal in Washington, as companies
started to report results for the fourth quarter.    
        
    EVENTS TO WATCH    
    * December auto sales from industry association
    * SEBI Chairman U K Sinha, RBI Deputy Governor H R Khan 
give speeches at capital markets seminar 
  
    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
    * The finance ministry is considering a proposal to sell
some shares of ITC Ltd, Axis Bank Ltd  and
Larsen & Toubro, held by SUUTI - the restructured unit
of the former UTI, Business Standard reported citing
unidentified sources. (Business Standard)
here
    * The government has decided to introduce the Insurance Laws
Amendment Bill in the upcoming budget session of Parliament in
its present form, allowing 49 percent foreign investment in the
insurance sector, without a carve out for portfolio investors.
(Economic Times)
    "There will be no compromise now. We will introduce the
Insurance Bill in its present format. The UPA is hopeful that
key allies will come together as in the case of FDI in retail,"
said a senior cabinet rank minister.
here
    * Finnish phone maker Nokia's said Indian tax
officials raided its production unit in the southern city of
Chennai on Tuesday. (Reuters) 
    
    ENERGY/COMMODITIES
    * The Supreme Court has put on hold a Bombay High Court
order asking Vedanta Aluminium Ltd to deposit 1.87
billion rupees with it as security in an arbitration case
involving a Chinese firm. (Economic Times)
here
    * The government is planning to hike the prices of
subsidised LPG cylinders, diesel, and kerosene, according to a
proposal seen by Hindustan Times (Hindustan Times)
link.reuters.com/syc25t
    
    TELECOMS
    * The Indian government has asked the country's top court
whether mobile phone carriers whose licences will be revoked due
to an earlier order can operate until an airwave auction in
March, said a senior government official with direct knowledge
of the matter. (Reuters) 
    * Bharti Airtel Ltd increased 2G data rates late
last week, and its closest rivals, Vodafone India and Idea
Cellular Ltd are expected to do the same as mobile
carriers seek to cover costs and improve margins. (Economic
Times)
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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