Indian stocks to watch-Jan 10

Thu Jan 10, 2013 8:44am IST

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GLOBAL MARKETS ROUNDUP       
    * Nifty futures on the Singapore Exchange rose 0.5
percent. The MSCI-Asia Pacific index, excluding Japan
 gained 0.6 percent.         
    * Asian shares rose on Thursday as much
stronger-than-expected Chinese trade data magnified positive
momentum overnight from global markets and kept alive hopes for
a recovery in the world's second-largest economy. 
    * U.S. stocks rose on Wednesday, rebounding from two days of
losses, as investors turned their focus to the first prominent
results of the earnings season.     
         
    EVENTS TO WATCH     
    * India's Supreme Court will hear an appeal by Russian
conglomerate Sistema's Indian mobile phone unit challenging the
court's order last year to revoke cellular permits awarded to
the company in a scandal-tainted 2008 sale.
    
    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 Indian government hiked railway passenger fares after
a gap of nine years and later in the day sources in his
government said it had proposed an increase in heavily
subsidised fuel prices to rein in a swollen fiscal deficit. 
(Reuters) 
    * The government could consider on Thursday a proposal for a
10 percent stake sale in Engineers India Ltd, which
may fetch around 6.45 billion rupees, Press Trust of India
reported citing an unidentified official source, according to a
report in The Economic Times.  (PTI in Economic Times)
here
    * India's central bank is considering a proposal to bring
down the held-to-maturity limit in debt for banks in a
non-disruptive manner, Reserve Bank of India Deputy Governor
H.R. Khan said on the sidelines of an event on Wednesday. 
    * An Indian court told the Sahara Group it would have to pay
 100 billion rupees, the next tranche of money due to investors,
as directed by the top court in its December 5, 2012,
order.(Economic Times)
here
    
    ENERGY/COMMODITIES
    * India's coal imports may rise by half to around 16 million
tonnes in January from a year earlier, trade sources said on
Wednesday, helped by a spurt in heating demand due to a severe
cold wave. (Reuters) 
    * Gujarat NRE Coke Ltd's October-December net
profit rose over ten-fold to 201.2 million rupees from 19
million rupees a year ago. (Reuters) 

    TELECOMS
    * India's leading cellular carriers are likely to challenge
a government demand for surcharges totalling more than $4
billion on their airwave holdings, an industry official said.
(Reuters) 
    
    AIRLINES
    * AirAsia is exploring options to set up a company that will
be majority owned by an Indian promoter, preferably a well known
business group, two people close to the development said. 
    The Malaysian carrier has broached the issue with the
Videocon Group and the talks are at a preliminary stage, one
person said. Venugopal Dhoot, the chairman of the Videocon
Group, confirmed that they had been approached by the
airline.(Economic Times)
here
    * Employees of Kingfisher Airlines Ltd in New
Delhi have sought closure of the cash-strapped carrier by
initiating legal proceedings against the company on Thursday.
(Economic Times)
here
    
    LOGISTICS
    * France's GeoPost Group is set to pick up a strategic 40
percent stake in DTDC Courier & Cargo, valuing the company at
4.75 billion rupees, said several people familiar with the
development. (Economic Times)
here
 
    
    AUTOS
    * Mahindra & Mahindra will invest $900 million
over the next four years in products to be developed jointly
with its South Korean unit Ssangyong Motor Co Ltd,
Mahindra's automotive president said on Wednesday. (Reuters)
 
    
    CONSTRUCTION
    * Punj Lloyd Ltd, stepped up its offer for the
construction business of Macmahon Holdings Ltd on
Thursday, looking to trump a current deal with Leighton Holdings
Ltd. (Reuters) 
    
    TEXTILES
    * Alok Industries Ltd is looking at exiting its
retail ventures as it wants to focus on its core businesses and
shift from non-core businesses such as retail which have
increased its debt burden, according to sources close to the
development. (Business Standard)
here

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

 (Compiled by Manoj Rawal; Editing by)
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