Indian stocks to watch-Feb 1

Fri Feb 1, 2013 8:45am IST

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GLOBAL MARKETS ROUNDUP          
    * Nifty futures on the Singapore Exchange was down
0.1 percent. The MSCI-Asia Pacific index, excluding Japan
 fell 0.07 percent.              
    * Asian shares wiped earlier gains on Friday as a tepid
Chinese manufacturing report dented sentiment, leaving investors
on tenterhooks ahead of U.S. nonfarm payroll data due later in
the day.        
    * U.S. stocks edged lower on Thursday on caution ahead of
Friday's all-important jobs report, but the S&P 500 still
posted its best monthly gain since October 2011.         
              
    FACTORS TO WATCH         
    * Earnings: Bharti Airtel Ltd, Jet Airways India
Ltd, Bharat Heavy Electricals Ltd and IDFC
Ltd. 
    * The government aims to sell about $575 million in shares
sale in Oil India Ltd. The base price has been set at
a 5.6 percent discount to its share price. 
    * Manufacturing PMI for January. (0500 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
    * India's fiscal deficit during the
April-December period was 4.07 trillion rupees ($76.22 billion),
or 78.8 percent of the budgeted full fiscal year 2012/13 target,
government data showed on Thursday. (Reuters) 
    * India's finance minister is putting welfare, defence and
road projects on the chopping block in a last-ditch attempt to
hit a tough fiscal deficit target by March, risking short-term
economic growth and angering cabinet colleagues. (Reuters)
 
    * The Indian government is likely to raise 270 billion
rupees ($5.06 billion) through the sale of its stake in
state-run companies, 10 percent lower than the initial target
for the current fiscal year ending in March, Disinvestment
Secretary Ravi Mathur told reporters on Thursday. (Reuters)
 
    * Axis Bank Ltd said on Thursday it has raised a
total of 55.4 billion rupees ($1.04 billion) through the sale of
shares, in the biggest equity deal in more than a month in
Asia's third-largest economy. (Reuters) 
    * India's central bank tightened rules on Thursday governing
how banks and other financial institutions provision for
restructured loans, based on the recommendations of a panel.
(Reuters) 
        
    ENERGY/COMMODITIES
    * India's infrastructure sector output grew 2.6
percent in December from a year earlier, government data showed
on Thursday. (Reuters) 
    * ONGC Videsh Ltd  is set to battle it out with
Asian rivals from China and Thailand as well as some of the
biggest global names for Videocon Industries Ltd's  10
percent stake in Mozambique's Rovuma offshore block, at least
four people aware of the developments said. (Economic Times)
here
    * Separately ONGC Videsh, a unit of explorer Oil and Natural
Gas Corp Ltd, will launch its first overseas bond
issue in February to raise about $900 million to fund an
acquisition in Azerbaijan. (Reuters) 
    * Reliance Industries Ltd and Essar Oil Ltd
 are gearing up to cater to the lucrative bulk-sales
market for diesel, where the government has allowed free-market
pricing. (Economic Times)
here
    * Cairn India Ltd will start the second phase of
its Sri Lankan oil exploration programme this week with the
drilling of a fourth well and will decide the commercial
viability of the project by 2014, a company official said on
Thursday. (Reuters) 
    * Shree Renuka Sugars Ltd's October-December net
profit fell 39.9 percent to 175 million rupees from a year
earlier. (Reuters) 
    
    AIRLINES
    * Japan's All Nippon Airways Co Ltd (ANA) has
reportedly held talks with GoAir and Spicejet Ltd for
a stake purchase, sources close to the development said. (Times
of India)
toi.in/-IJQGb
    * Etihad Airways, which is widely expected to buy up to 24
percent stake in Jet Airways India Ltd, could get equal
board representation in the Indian company, people close to the
development said. (Economic Times)
here
    
    INDUSTRIALS
    * Pipavav Defence & Offshore Engineering Co Ltd 
has offered to sell 26 percent of its equity and the board will
soon meet to decide on the buyer, a source involved with the
negotiations said. (Business Standard)
here
    * The Calcutta High Court has ordered the winding up of tyre
maker Dunlop India Ltd after years of battling debts
and litigations. (Times of India)
toi.in/QS3nJZ
    
    RETAIL
    * Wal-mart Stores Inc  and the U.S. government have
conveyed their concern over India's move to let states decide on
the entry of global supermarkets, The Times of India reported
citing unidentified sources. (Times of India)
toi.in/bTkTsa
    * Trent Ltd's October-December net profit rose
48.9 percent to 209.9 million rupees from a year ago. (Reuters)
 
    
    IT
    * Satyam Computer Services Ltd handily beat
expectations with a 20.6 percent rise in third-quarter profit
before a one-off loss. (Reuters) 
    
    PROPERTY
    * Sobha Developers Ltd' October-December net
profit rose 28.7 percent to 516 million rupees from 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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