Indian stocks to watch-Feb 6

Wed Feb 6, 2013 8:43am IST

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Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

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GLOBAL MARKETS ROUNDUP            
    * Nifty futures on the Singapore Exchange rose 0.2
percent. The MSCI-Asia Pacific index, excluding Japan
 rose 0.3 percent.                
    * Asian shares recovered on Wednesday as solid euro zone
data calmed nerves jarred by potential political turmoil, while
the prospect of a dovish new governor for the Bank of Japan
weakened the yen.          
    * U.S. stocks climbed on Tuesday, recovering a day after the
market's biggest sell-off since November, as
stronger-than-expected earnings brightened the profit picture.
    
       
    FACTORS TO WATCH           
    * Earnings: Cipla Ltd, Tech Mahindra Ltd 
 
    * Day 1 of RBI's central board meeting in the eastern city
of Guwahati. 
    * India money supply data (0930GMT) 
    
    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 Indian tax authorities have sent sternly-worded
letters asking several companies that paid lower service tax or
excise duty than last year to explain the decline, The Economic
Times reported citing a review of the letters. 
link.reuters.com/myk75t 
    * Kotak Mahindra Bank Ltd said on Tuesday it
acquired the business loans portfolio of the Indian arm of
Barclays Plc. (Reuters) 
    * Housing Development Finance Corporation (HDFC),
India's biggest housing finance company, will reduce its prime
lending rate by 10 basis points starting Feb. 6, it said on
Tuesday. (Reuters) 
    * United Bank of India's October-December net
profit fell 81.3 percent to 422 million rupees from a year
ago.(Reuters) 

    ENERGY/COMMODITIES
    * The Indian government expects to raise around 120 billion
rupees ($2.25 billion) by selling a 9.5 percent stake in state
power utility NTPC Ltd in a share auction on Thursday,
Disinvestment Secretary Ravi Mathur said. (Reuters)
 
    * The food ministry has decided to seek Cabinet approval to
lift controls on sugar, a senior food ministry official said.
(Economic Times)
here
    * In a move that will increase electricity tariffs by up to
13 paise a unit, the cabinet committee on economic affairs
(CCEA) on Tuesday approved the pooling of imported and domestic
coal prices. (Mint)
here
    * State electricity distribution companies have decided to
sign long term power supply contracts in the next six months
ending a two-year long dry spell for power generators, an
official statement said. (Economic Times)
here
    * Dainik Bhaskar Group's power generation arm, Diligent
Power, is in talks with leading private equity players to raise
around 8 billion rupees to fund its thermal power projects, said
three persons with direct knowledge of the development.
(Economic Times)
here

    AUTOS
    * Tata Motors Ltd is working on a new premium
small car that will compete with models of rivals Maruti Suzuki
India Ltd and Ford Motor Co, several people with
knowledge of the development said. (Economic Times)
here
    
    RETAIL / TRAVEL
    * Hennes & Mauritz (H&M) has asked leading mall developers
to block space for its initial stores in India, as the world's
second largest fashion retailer hopes to open a local office in
the next three months,  said people directly familiar with the
matter. (Times of India)
toi.in/XD7YRb
    * Thomas Cook (India) Ltd on Tuesday said it will
buy a 74 percent stake in unlisted Bangalore-based human
resources company Ikya Human Capital Solutions Pvt. Ltd for 2.56
billion rupees. (Mint)
here
    
    SPIRITS
    * United Breweries Holdings Ltd's October-December
net profit surged more than twelve-fold to 389.2 million rupees
from 30.7 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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