Indian stocks to watch-Feb 6
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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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article