CORRECTED-Indian stocks to watch-Jan 29

Tue Jan 29, 2013 8:52am IST

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Stocks

   

(Corrects Jet Airways entry under AIRLINES to clarify news item
was from Press Trust of India, adds website link)

     GLOBAL MARKETS ROUNDUP       
    * Nifty futures on the Singapore Exchange fell 0.09
percent. The MSCI-Asia Pacific index, excluding Japan 
 was up 0.7 percent.           
    * Asian shares rose on Tuesday after solid U.S. data, but 
investors remained cautious ahead of more U.S. economic reports 
and a Federal Reserve policy decision later in the week.
     
    * The S&P 500 eased slightly on Monday after an
eight-day run of gains, while the Nasdaq edged higher as
Apple shares rebounded.      
           
    FACTORS TO WATCH      
    * RBI's policy review (decision at 0530 GMT) 
    * Earnings: Idea Cellular Ltd, Reliance Capital
Ltd, Sterlite Industries (India) Ltd 

    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
    * India's central bank said a sustained commitment to
contain the fiscal and current account deficits was needed to
create room for monetary easing. (Reuters) 
    * Axis Bank Ltd is selling shares to raise as much
as $1 billion, two sources with direct knowledge of the matter
said on Monday. (Reuters) 
    * The government is likely to make it easier for foreigners
to prove their residency for claiming benefits under bilateral
tax treaties, said a finance ministry official who did not wish
to be named. (Business Standard)
here

    ENERGY/COMMODITIES
    * The finance ministry has asked the petroleum ministry to
price motor and kitchen fuels at export parity, in a policy
shift that would bring relief to fuel consumers and the economy
but shake up the domestic oil retail market. (Times of India)
here
    * Adani Ports and Special Economic Zone Ltd has
decided to sell 100 percent stake in Abbot Point Coal Terminal
in Australia to the Adani family, said B Ravi, the company's
chief financial officer. (Business Standard)
here
    * India will look into the reasons behind the delay in
Posco's proposed $12 billion steel plant in Odisha,
according to a statement from the Commerce Ministry after South
Korea termed clearance to the project as key to enhanced
economic ties between the two nations. (Economic Times)
here
    * Oil and Natural Gas Corp Ltd may not achieve any
additional crude oil production this fiscal and just about reach
last fiscal year's levels due to delay in commissioning of some
of its marginal assets, according to Chairman Sudhir Vasudeva.
(Business Line)
here
    
    AIRLINES
    * A section of Jet Airways India Ltd's technicians
started a "symbolic" protest by wearing black bands last Friday
against the "management's proposed move to freeze wage hike over
the next two-three years," sources among the agitators said,
according to Press Trust of India, in a report carried by
Business Standard. (PTI via Business Standard)
    A Jet Airways spokesperson was quoted by PTI as saying the
airline "has always adopted a conciliatory open-door policy with
all its staff, including technicians."
here
    
    PROPERTY/INFRASTRUCTURE
    * Tata Realty and Infrastructure  plans to float a real
estate investment trust or a business trust in Singapore, a top
official told the Financial Chronicle newspaper. (Financial
Chronicle)
here

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

 (Compiled by Manoj Rawal)
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