Indian stocks to watch-Feb 25

Mon Feb 25, 2013 8:50am IST

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Stocks

   

GLOBAL MARKETS ROUNDUP 
    * Nifty futures on the Singapore Exchange rose 0.15
percent. The MSCI-Asia Pacific index, excluding Japan  
 rose 0.06 percent.    
    * Asian shares edged higher on Monday but prices were capped
by uncertainties over the global economy after a private survey
showed Chinese manufacturing activity retreated from two-year
highs this month. 
    * U.S. stocks rose on Friday as Dow component
Hewlett-Packard surged on strong results and comments
from Fed officials allayed fears that the central bank would
curtail its stimulus measures.  

    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
    * Indian companies from any business sector will be allowed
to seek entry to the country's the banking industry as the
government looks to bring banking services to the large
proportion of the population without bank accounts. (Reuters)
 
    * Starting three years ago with a business remodelling plan,
India's Ratnakar Bank has ventured where few deposit-taking
lenders have gone before. (Reuters) 
    * The Securities and Exchange Board of India will carry out
a comprehensive review of rules seeking to punish insider
trading in order to align them with global practices, said two
people familiar with the proposal. (Economic Times)
here
    * The Finance Minister has restricted total plan spending in
2012-13 to 4.28 trillion rupees, down by 930 billion rupees from
the budgeted expense, The Economic Times reported without
revealing how it had obtained the calculations. (The Economic
Times)
here
    * India may soon have as many as 14 domestic hedge funds
managing some $1 billion in funds since the capital market
regulator last year allowed the setting up of such high-risk,
high-returns investment vehicles. (Mint)
here
    * Royal Bank of Scotland is to lay off staff in
India as a part of its plan to wind down its retail and
commercial operations in the country, it said in a statement,
without specifying how many employees would be affected.
(Reuters) 
    
    ENERGY/COMMODITIES
    * Reliance Power Ltd will fire the first unit of
its giant 4,000 mw Sasan plant this week, Chief Executive JP
Chalasani said. (Economic Times)
here
    * Steel Authority of India Limited (SAIL) has
lined up an investment of 102.84 billion rupees to double
capacity of its captive iron ore mines to 45 million tonne, SAIL
Chairman C. S. Verma said (Economic Times)
here
    * Essar Energy Plc wants to take full control of
the Mehsana block in the eastern flank of the Cambay basin of
Gujarat from its partner, Oil and Natural Gas Corporation
, Business Standard reported, citing an unidentified
"industry source." (Business Standard)
here
  
    
    INFRASTRUCTURE
    * GMR Infrastructure Ltd has decided to exit its
first independent power project (IPP) outside India by selling
the entire 70 percent stake in its Singapore plant, held under
unit GMR Energy (Singapore) Pte Ltd, said multiple sources aware
of the development. (Economic Times)
here
    * Shriram Group is set to decide between Citi Venture
Capital International and Blackstone Group LP as
financial partners to run its cement business, in a deal which
could be announced within weeks, Times of India reported, citing
 R Thyagarajan, chairman of Shriram Group. (Times of India)
here
    
    AUTOS
    * The Competition Commission of India is likely to soon pass
an order against 17 leading automobile manufacturers for
allegedly using their dominant position to sell spare parts only
through authorised dealers, Business Standard reported, citing
an unidentified top official at CCI. (Business Standard)
here
   
    * Tata Motors Ltd is working on a family of
low-cost composite cars that is expected to complement the Nano,
the automaker's ultra-low-cost car, said two people close to the
project. (Economic Times)
here
    * Titagarh Wagons Ltd and FreightCar America Inc
 on Saturday said they have agreed to wind up and
dissolve their Indian joint venture company. (Reuters)
 
    
    AIRLINES
    * Singapore-based Tiger Airways is in talks with
domestic carriers including Spicejet Ltd  and Indigo
to forge alliances to help passengers in smaller cities routed
through Hyderabad for their Singapore travel, The Economic Times
reported citing Tiger's commercial director Kaneswaran Avili.
(Economic Times)
here
    * The Foreign Investment Promotion Board will take up on
March 6 the investment proposal of Malaysia's AirAsia Bhd's
 joint venture with the Tata Group and another company.
(Economic Times)
here
    
    TELECOM
    * Norway's Telenor ASA  on Sunday said it has
started the process to refund money to its Mumbai customers and
help them shift to alternate mobile operators in the wake of its
network shutdown. (Economic Times)
here
    * Russian conglomerate Sistema on Friday defended
its bid to recover mobile phone licences in India as a strategic
move giving it a launchpad for investment in southeast Asia.
(Reuters) 
 
    PHARMA
    * Ranbaxy Laboratories Ltd said on Friday it will
resume production of its version of Pfizer's cholesterol
fighter Lipitor for sale in the United States after resolving
the issues that led to a November recall. (Reuters)
 
  
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    
    

 (Compiled by Manoj Rawal)
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