Indian stocks to watch-Jan 30

Wed Jan 30, 2013 8:31am IST

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Stocks

   

GLOBAL MARKETS ROUNDUP        
    * Nifty futures on the Singapore Exchange rose 0.21
percent. The MSCI-Asia Pacific index, excluding Japan 
 was up 0.6 percent.            
    * Asian shares gained on Wednesday ahead of domestic
corporate earnings reports and the U.S. Federal Reserve's
monetary policy decision due later in the session, while taking
comfort from improving global economic prospects.   
  
    * U.S. stocks advanced on Tuesday, led by defensive sectors,
in a sign the cash piles recently moving into the market are
being put to use by cautious investors to pick up more gains.
       
            
    FACTORS TO WATCH       
    * Reserve Bank of India's conference call with economists
and analysts (0900 GMT)
    
    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
    * Indian finance minister P. Chidambaram said on Tuesday he
saw no reason why companies that fulfill all central bank
criteria should be denied banking licenses as part of plans to
shake up the country's bank sector. (Reuters) 
    * The finance ministry is considering amending the
income-tax act empowering the tax authorities to spare companies
from paying penalty as well as interest on taxes levied on
indirect transfer of Indian assets through sale of shares
abroad, senior officials in the tax department said. (Economic
Times)
here
    * Public sector companies such as NMDC Ltd  and
Coal India Ltd will use a portion of their cash pile
to pick up stakes in public sector companies slated to hit the
market with share sales, company officials told The Financial
Express newspaper. (Financial Express)
here
    
    ENERGY/COMMODITIES
    * Reliance Industries Ltd will look to bring down
the proportion of bank debt to its overall borrowings to about
half from the current 80 percent, while increasing its reliance
on public market debt and funding from export credit agencies, a
senior company executive said on condition of anonymity. (Mint)
here

    TELECOMS
    * Idea Cellular Ltd reported a
smaller-than-expected 14 percent increase in quarterly profit as
higher network operating costs ate into margin. (Reuters)
 
    * India's finance minister P. Chidambaram said he is
confident that a $2.6 billion tax dispute with Vodafone 
would be settled, telling the Financial Times that a third round
of talks will be held this week. (Reuters) 
    
    PHARMA
    * Glenmark Pharmaceuticals Ltd October-December
net profit up over four-fold to 2129.2 million rupees from 448.2
million rupees a year ago. (Reuters) 
    
    CONSTRUCTION/INDUSTRIALS
    * Crompton Greaves Ltd reported an
October-December net loss of 1.89 billion rupees versus a net
profit of 771.4 million rupees a year ago. (Reuters)
 
    
    LOGISTICS
    * Blue Dart Express Ltd's October-December net
profit doubled to 450.1 million rupees from 223.8 million rupees
a year ago. (Reuters) 

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

 (Compiled by Manoj Rawal)
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