Indian stocks to watch-Jan 18

Fri Jan 18, 2013 8:46am IST

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GLOBAL MARKETS ROUNDUP
    * Nifty futures on the Singapore Exchange rose 0.36 
percent. The MSCI-Asia Pacific index, excluding Japan 
 was up 0.51 percent.    
    * Asian shares advanced on Friday as encouraging Chinese
data confirmed a recovery was on track in the world's second
largest economy, cementing positive sentiment after global
equities rose overnight. 
    * Stronger-than-expected data on U.S. housing starts and
jobless claims lit a fire under stocks on Thursday, pushing the
S&P 500 to a five-year high and its third day of gains.
 
    
    FACTORS TO WATCH
    * Earnings: Reliance Industries Ltd, HDFC Bank
, ITC Ltd 
    * Kingfisher Ltd's core lenders to meet 
    * SEBI's board meeting
    
    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.
    
    ENERGY/COMMODITIES
    * India's government told fuel retailers to raise the price
of subsidised diesel in small amounts every month starting
Friday in an attempt to prop up public finances without causing
a popular backlash before elections. 
     The government has called for increases of about 1 U.S.
cent per litre each month, a source at one of the oil retailers
with direct knowledge of the development told Reuters on
Thursday. 
   Bulk buyers will have to pay market rates for diesel, which
accounts for 40 percent of fuel consumption in the country, the
source, who requested anonymity, said. (Reuters) 
    * India slapped a duty of 2.5 percent on imports of crude
edible oils on Thursday, aiming to hold down purchases by the
world's top vegetable oil buyer after No. 2 producer Malaysia
set export tax at zero in a battle for market share with rival
Indonesia. (Reuters) 
    * Reliance Industries Ltd is yet to finalise a
concrete plan of action to launch its much-hyped 4G technology
services, according to sources from the company, industry and
the vendor community. (Economic Times)
here
(Economic Times)
    
    FINANCIAL/REGULATORY
    * India's third stock exchange, MCX-SX, is all set to launch
equity trading on its platform on Feb. 9, according to sources.
    Finance Minister P Chidambaram will ring the opening bell at
MCX-SX in Mumbai, government officials in New Delhi said, and
other sources said event organisers have been asked to block
dates during February 8-15 to accommodate any last minute
changes in the finance minister's plan. (Business Standard)
here
    * The Indian affiliate of global accounting firm
PricewaterhouseCoopers was questioned on Thursday by
tax authorities looking into possible tax evasion by Finnish
phone maker Nokia, a spokesman for PwC confirmed.
(Reuters) [ID:nL1E9CH8NI
    * The  Cabinet Committee of Economic Affairs on Thursday
authorised the National Investment Fund to buy shares of public
sector enterprises, including banks and insurance
companies.(Business Standard)
here
    
    IT
    * Wipro Ltd posted an 18 percent gain in quarterly
profit, joining bigger rivals Tata Consultancy Services Ltd
 and Infosys Ltd in reporting
better-than-expected earnings. 
    * India's $100 billion IT outsourcing sector, which earns
the bulk of its revenue from exports of software services, won a
long-sought and favourable clarification over the tax treatment
of some of the money it earns overseas. (Reuters)
 
    
    AUTOS
    * Hero MotoCorp Ltd missed estimates for the
fourth straight quarter on Thursday as net profit fell 20.4
percent on rising costs and falling sales that battered margins.
(Reuters) 
    
    AIRLINES
    * Air India has closed bookings on Boeing Co 
Dreamliner-operated flights "for the time being", the airline
said on Thursday. (Reuters) 
    * The Supreme Court has asked the aviation regulator and the
industry to explain the rationale of imposing charges over and
above base fares on airline passengers, appearing to disregard
airlines' defence that these levies were needed to deal with
fluctuating market conditions.  (Economic Times)
here
    
    INFRASTRUCTURE
    * GMR Infrastructure and GVK Power &
Infrastructure are walking out of road contracts as
they are unable to get funding for these projects and not
because of environmental clearance or regulatory hurdles, the
National Highways Authority of India chief said. (Economic
Times)
here
    
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    
    

 (Compiled by Dipika Lalwani; Editing by Rafael Nam)
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