Indian stocks to watch-Jan 23

Wed Jan 23, 2013 8:47am IST

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GLOBAL MARKETS ROUNDUP   
    * Nifty futures on the Singapore Exchange rose 0.4
percent. The MSCI-Asia Pacific index, excluding Japan 
 was flat.       
    * Asian shares nudged higher on Wednesday as investor
appetite for riskier assets improved amid upbeat U.S. earnings
and better German investor confidence. 
    * Bank and commodity shares led the benchmark Standard &
Poor's to a fresh five-year closing high on Tuesday on
hopes that the global economy continues to mend.  
       
    FACTORS TO WATCH   
    * Reliance Communications Ltd, Zee Entertainment
Enterprises Ltd earnings.
    
    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 Reserve Bank of India has urged banks to offer more
long-term fixed-rate loan products in contrast to the current
bias of lenders towards floating-rate products, to protect
borrowers from interest rate fluctuations. (Reuters)
 
    * The Indian central bank has allowed exporters to access
the foreign exchange market without having to first exhaust
funds in their foreign currency accounts, reversing a previous
restriction imposed to prevent a sharp fall in the
rupee.(Reuters) 
    *  Allahabad Bank will sell 5.4 billion rupees
worth of non-performing assets to asset reconstruction
companies, said Shubhalakshmi Panse, chairperson and managing
director at the lender. (Business Standard)
here
    * Consim Info, the holding company of online matchmaker
Bharatmatrimony, has started discussions with investment banks
for a share sale of up to $125 million, according to people
briefed on the matter. (Times of India)
here
    
    ENERGY/COMMODITIES
    * Reliance Industries Ltd shut its eighth well on
the main gas fields in KG-D6 block, leading to output plummeting
to 20.88 mmscmd, according to a status report of the Directorate
General of Hydrocarbons, Press Trust of India reported in an
article carried by The Economic Times. (PTI via Economic Times)
here
        
    AIRLINES
    * Kingfisher Airlines needs at least 10 billion
rupees ($185.65 million) to restart its grounded operations and
must also demonstrate an ability to sustain itself for at least
6 months, India's civil aviation minister said on Tuesday.
 (Reuters) 
    * ILFC, one of the world's largest leasing firms, has warned
India the failure of troubled carriers like Kingfisher Airlines
Ltd to return airplanes when they cannot pay their
bills could put the country's aviation growth at risk by scaring
away new funding. (Reuters) 
    * British Airways is in talks with India's biggest carrier,
IndiGo, over a ticketing and baggage sharing agreement, a source
with direct knowledge of the discussions said on
Tuesday.(Reuters) 
    
    INFRASTRUCTURE
    * The ministry of environment and forests has granted
in-principle forest clearances to four highway projects,
including the one that GMR Infrastructure Ltd had
exited recently, according to a government official aware of the
developments. (Mint)
here
    
    RETAIL
    * A number of investment banks, including Credit Suisse and
Nomura, cut their ratings on Hindustan Unilever Ltd, a
day after India's largest consumer goods maker disappointed
investors with slower-than-expected volume growth and a hike in
royalty payments. (Reuters) 

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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