Indian stocks to watch-Jan 18
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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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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U.S. President Barack Obama watched a dazzling parade of India's military might and cultural diversity on Monday, the second day of a visit trumpeted as a chance to establish a robust strategic partnership between the world's two largest democracies. Full Article | Slideshow