MARKET EYE WEEKAHEAD-Earnings, reforms key for Indian stocks

Fri Jan 18, 2013 6:01pm 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 

* Earnings will continue to set the tone in Indian markets, with
Larsen & Toubro Ltd, Maruti Suzuki India Ltd 
 and Hindustan Unilever Ltd among the companies set to
post October-December results.
* The government's decision to allow diesel price hikes should
continue to help support shares although state-run oil stocks
such as Hindustan Petroleum Corp Ltd that rallied on
the news may be susceptible to profit-taking. 
* India's ruling Congress Party kicks off a three-day conference
in the state of Rajasthan, with all leaders, including party
chief Sonia Gandhi, Prime Minister Manmohan Singh and all top
ministers attending.
* The big event this month still remains the RBI's policy review
on Jan. 29, with most analysts expecting a 25 bps cut in
interest rates after RBI Governor Duvvuri Subbarao dented hopes
for a 50 bps cut this week after calling inflation "still quite
high." 
    
KEY FACTORS/EVENTS TO WATCH
Sat: India's ruling Congress party starts 3-day conference
Mon.: NTPC Ltd, Asian Paints Ltd, Cairn
India Ltd, Housing Development Finance Corporation Ltd
 earnings
Tues.: Hindustan Unilever earnings
Wedns.: Reliance Communications Ltd, Zee Entertainment
Enterprises Ltd  earnings
Thurs.: Larsen & Toubro earnings
Fri.: Maruti Suzuki, Reliance Power Ltd 
earnings

 (abhishek.vishnoi@thomsonreuters.com;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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