Indian stocks to watch-Feb 11

Mon Feb 11, 2013 8:56am IST

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GLOBAL MARKETS ROUNDUP
     * Nifty futures on the Singapore Exchange fell 0.05
percent. The MSCI-Asia Pacific index, excluding Japan 
 was down 0.1 percent.         
    * With the Lunar New Year holiday shutting most Asian
financial centres, including those in Japan, China, Hong Kong,
Singapore and South Korea, trading was light and potentially
volatile on those exchanges that remained open. 
    * The Nasdaq composite stock index closed at a
12-year high and the S&P 500 index  at a five-year high,
boosted by gains in technology shares and stronger overseas
trade figures. 
     
    FACTORS TO WATCH 
    * MCX-SX stock exchange launches equities trading.
    * Earnings from Oil and Natural Gas Corp Ltd, Tata
Power Co Ltd 
    * India's January trade data (0630 GMT)
    * India January auto sales (0630 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 economy is likely to grow at 5.5 percent or
slightly more in the current fiscal year ending next month, and
the central statistical organisation is likely to revise figures
in its final estimates, a finance ministry statement said on
Friday. (Reuters) 
    * The Indian government will not go in for additional
borrowing this fiscal year and will be able to keep the fiscal
deficit at 5.3 percent of GDP, said Arvind Mayaram, a senior
finance ministry official. (Reuters) 
    
    ENERGY/COMMODITIES
    * India plans to cut its fertiliser subsidy bill by at least
15 percent for the fiscal year 2013-14, four sources told
Reuters, a move that takes advantage of a fall in international
prices to help narrow the country's fiscal deficit. (Reuters)
 
    * The government may raise the excise duty on sugar output
and levy a moderate export duty if it decides to lift controls
on the commodity, said a food ministry official. (Economic
Times)
here
    * Hindalco Industries expects production to start
at its Utkal and Mahan plants by April, Managing Director Debu
Bhattacharya told reporters after announcing December quarter
results on Friday. (Reuters) 
    * NTPC wants to reduce its coal imports from 10
percent of its annual fuel requirement to keep production costs
under check, its chairman said. (Reuters) 
    
    INFRASTRUCTURE / INDUSTRIAL
    * IVRCL Ltd is close to selling three of its road
projects to Tata Realty and Infrastructure Ltd in an attempt to
retire debt and replenish equity funds to help it take up new
projects, according to four persons familiar with the
development. (Economic Times)
here
    * The GMR Group has held exploratory talks with Airports
Authority of India for a partnership to jointly develop airport
projects overseas, two people with knowledge of the development
said. (Financial Express)
here
    * Bharat Forge Ltd October-December net profit
fell 53.9 percent to 475.2 million rupees from a year earlier.
(Reuters) 

    PHARMA
    * Cipla Ltd has decided to put on hold its $220
million acquisition plan of the third largest South African
drugmaker Cipla Medpro due to valuation issues, Cipla chairman
YK Hamied said. (Economic Times)
    * Sun Pharmaceutical Industries Ltd, which has been
on a buying spree, ended its agreement to gain full control over
its Israeli unit Taro Pharmaceutical Industries Ltd.
(Reuters) 
    
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    

 (Compiled by Manoj Rawal)
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