Indian stocks to watch-Jan 22

GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange rose 0.07
percent. The MSCI-Asia Pacific index, excluding Japan
was flat.
* The yen and Asian shares marked time as investors
awaited the outcome of the Bank of Japan's policy meeting, with
expectations running high for bold monetary easing measures
aimed at reflating the world's third-largest economy.

* U.S. stock markets were closed for a public holiday on
Monday.

FACTORS TO WATCH
* Hindustan Unilever Ltd earnings
* India's Finance Minister to meet foreign investors in Hong
Kong

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 has raised the import tax on gold by 2 percentage
points to 6 percent to curb purchases and rein in a ballooning
fiscal deficit but industry officials expect only a moderate
drop in demand. (Reuters)
* The government wants to junk arbitration proceedings and
favours direct negotiations with Reliance Industries in its
dispute over the cost of developing the controversial KG-D6
block, Oil Minister Veerappa Moily told The Economic Times.
(Economic Times)
here
* In 24 months, diesel for retail consumers will be sold at
market prices, with fuel subsidies only on LPG and kerosene, oil
minister Veerappa Moily told The Financial Express (Financial
Express)
link.reuters.com/byh45t
* Cairn India Ltd's October-December net profit
rose 47.9 percent to 33.45 billion rupees from a year ago.
(Reuters)
* Shree Cement Ltd's October-December net profit
rose more than three-fold to 2.17 billion rupees from a year
ago. (Reuters)
* The government will restore allocation of three cancelled
coal blocks of NTPC Ltd on Tuesday, Power Minister
Jyotiraditya Scindia told reporters after a ministerial panel's
meeting. (Business Standard)
here

FINANCIAL/REGULATORY
* IDBI Bank Ltd plans to raise equity capital by
issuing shares to institutional investors through a qualified
institutional placement in the fiscal fourth quarter. (Business
Standard)
here

TELECOMS
* Reliance Communications Ltd is negotiating a
network sharing deal with Reliance Industries Ltd that
is slated to launch fourth generation services or high-end data
services on mobiles this year, two executives aware of the
development said. (Economic Times)
here

RETAIL
* India's foreign investment board cleared IKEA's
proposal to set up stores in the country, Trade Minister Anand
Sharma said, paving the way for it to invest $1.86 billion over
15-20 years. (Reuters)

MEDIA
* Bharat Business Channel Ltd, the satellite broadcasting
arm of Videocon Group, is likely to raise 7 billion rupees
through an initial share sale in mid-February at 60-70 rupees
per share, said a person familiar with the development. (Mint)
here

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

(Compiled by Manoj Rawal)