Indian stocks to watch-Feb 13

Wed Feb 13, 2013 8:45am IST

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GLOBAL MARKETS ROUNDUP 
     * Nifty futures on the Singapore Exchange was 0.19
percent up. The MSCI-Asia Pacific index, excluding Japan 
 was 0.72 percent higher.          
    *  Asian shares inched higher on Wednesday while the yen was
firmer amid conflicting interpretations of G7 comments about the
yen's recent weakness.  
    * U.S. stocks closed modestly higher on Tuesday, putting the
Dow within striking distance of an all-time high, as investors
looked ahead to President Barack Obama's State of the Union
address. 
      
    FACTORS TO WATCH  
    * India January trade data. (0530GMT)
    * India commerce and industry minister at IT event.
(0400GMT)
    * Tata Consultancy Services CEO at event. (0900GMT)
    * Earnings: Tata Steel, Coal India 
Unitech, Indian Oil, BPCL.
     
    INDIAN STOCKS TO WATCH
For additional press items double click 
    TOP NEWS
    * India is investigating the payment of kickbacks linked to
the purchase of a dozen helicopters from Italian
state-controlled defense group Finmeccanica and could
put off the deal, an Indian Defence Ministry official said.
(Reuters) 
    * Three brothers with family ties to a former head of the
Indian air force helped to twist rules in a helicopter tender
won by Italy's AgustaWestland, prosecutors alleged in an arrest
warrant for a top Italian businessman. (Reuters) 

    FINANCIAL/REGULATORY
    * Infrastructure Development Finance Company, one
of the original promoters of National Stock Exchange (NSE), is
planning to sell a slice of its stake in the country's largest
bourse, said sources familiar with the matter. (Economic Times)
link.reuters.com/hus85t
    * Finnish phone maker Nokia said on Tuesday it
was protesting against a tax investigation in India, a crucial
market, in the latest dispute involving a foreign company's tax.
(Reuters) 
    * Shell India described as "absurd" the demand for $1
billion in taxes on a $160 million equity infusion done by the
Anglo-Dutch oil major four years ago, saying it tantamounted to
tax on FDI. (Press Trust of India in Economic Times)
link.reuters.com/mus85t
    
    ENERGY/COMMODITIES
    * Novelis Inc, the world's largest producer of
rolled aluminum products, reported a quarterly profit on Tuesday
after a year-earlier loss, but said production disruptions
linked to a new software system held back results. (Reuters)
 
    * In a major jolt to the government's dual pricing policy on
diesel, sales for bulk customers have dropped by at least 30
percent since Jan. 17, when the prices were increased. (Business
Standard)
link.reuters.com/wus85t
    * India's HPCL Dec quarter net profit fell 94.61
percent to 1.47 billion rupees from 27.25 billion rupees a year
ago while net sales rose 10 percent to 527.51 billion rupees
from 479.17 billion rupees a year earlier. (Reuters)
 
    * Anglo-Dutch oil giant Royal Dutch Shell's India unit plans
to invest $1 billion in building a floating liquefied natural
gas (LNG) terminal off Andhra coast by 2014 as it bets big on
gas retailing in the energy deficit country. (Mint)
link.reuters.com/nus85t

    AVIATION
    * Lenders to India's grounded Kingfisher Airlines 
have decided to take initial steps towards recovering $1.4
billion of loans in default after the company failed to come up
with a viable funding plan. (Reuters) 
    * State-owned Air India expects to raise around 10 billion
rupees by the end of the next financial year (March 2014)
through monetization of five of its prime properties across
India, senior government official said. (Business Standard)
link.reuters.com/zus85t
    
    AUTOS
   * Renault-Nissan Alliance, which was planning to utilise
400,000 units capacity by 2015, is expected to be ahead of its
plans by one year and is planning to add another 300,000 units
capacity for its entry level cars (Nissan) Datsun (Codenamed K2
and i2) and Renault (A Entry), which will entail an additional
investment of 15-20 billion rupees, said three people in the
know of the development. 
link.reuters.com/jus85t
    * Tata Motors -owned Jaguar Land Rover (JLR)
reported 32 percent increase in global sales for last month at
34,877 units. (Press Trust of India in Times of India)
link.reuters.com/xus85t
    
    INDUSTRIAL
    * State-run transport engineering consultant RITES Ltd and
construction company Ircon Ltd have decided to start arbitration
proceedings against Mozambique over a railway project that was
taken away from them by the African nation's government in an
example of the political risks of doing business in countries
prone to regulatory and regime changes. (Mint)
link.reuters.com/pus85t
  
     RETAIL / LEISURE
    * US online retail giant Amazon said on Tuesday it had asked
New Delhi to consider relaxing a law that stops its Indian
subsidiary from selling directly to customers. (Economic Times)
link.reuters.com/kus85t
    
    MEDIA
    * NOTE: Reuters has not verified third-party stories and
does not vouch for their accuracy.
    

 (Compiled by Manoj Rawal; Edited by Subhadip Sircar)
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