July 2, 2012 / 3:43 AM / 5 years ago

Indian stocks to watch - July 2

July 2 (Reuters) -     GLOBAL MARKETS   
    * The Nifty futures in Singapore Exchange rose 0.2
percent, while the MSCI Asia-Pacific index excluding Japan
 rose 0.4 percent.   
    * U.S. stocks surged on Friday to close out a sour quarter
on a high note as investors cheered an agreement by European
leaders to stabilize the region's banks, a pact that helped
remove some of the uncertainty that has plagued markets.   
    * Asian shares rose on Monday with sentiment brightening at
the start of the third quarter after Europe agreed to shore up
the region's banks, while investor attention is turning to the
health of the U.S. economy.   
       
    FACTORS TO WATCH   
    * Indian mutual fund industry officials and the stock market
regulator will meet finance ministry officials on Monday to
discuss ways to prep up the sagging mutual fund industry, which
is battling regulatory hurdles amid a poor market.
    * The government will release monthly trade data for May.
(0630 GMT)
    * An Indian ministerial panel meets to discuss the base
price for an upcoming 2G mobile airwaves auction. (1030 GMT)
    * India's manufacturing PMI for June. (0500 GMT)
    * June sales figures for Maruti Suzuki India and
Hero MotoCorp.
    
    INDIAN STOCKS TO WATCH
    FINANCIAL/REGULATORY
    * The Union finance ministry is pushing for an overhaul in
the government policy on foreign direct investment (FDI) in
single-brand retailing to accommodate the demands of companies
such as the Scandinavian furniture giant IKEA. (Business
Standard)
    * The Empowered Group of Ministers (EGoM) on telecom has
dropped a clause in rules which, if not reversed, could create a
significant problem for incumbent operators. (Business Standard)
    * State Bank of India, the country's largest
lender, has raised its interest rate by 25 basis points to 9
percent for three to five year tenor deposits of less than 1.5
million rupees ($26,900), the bank said in a statement on
Saturday. [ID: nL3E8HU03B]
    * In order to promote the sagging mutual fund industry,
finance ministry may advise Sebi to consider re-introduction of
entry load for brokers. (Economic Times)
    * The government plans to invest around 130 billion rupees
over a period of eight years to promote electric and hybrid
vehicles in the country and the Department of Heavy Industries
is expected to seek Cabinet approval for the same within the
next three months. (Economic Times)
    * HDFC Bank has decided to cut its benchmark
lending rate by 0.2 per cent, making loans cheaper for
borrowers. (Economic Times)
    * The Health Ministry's likely notification, which may make
it mandatory for beverage firms making colas to declare caffeine
content on their labels, could have a significant impact on not
only on established beverage firms but also smaller, regional
brands. (Economic Times)
    * The Petroleum Ministry looks set to reject the price
Reliance Industries has proposed for gas it will
produce from below coal seams, CBM, citing a 2010 ruling of the
Supreme Court that had not commented on CBM pricing. (Economic
Times)
    * Residents of New Delhi, who limit their power consumption
to 200 units per month, may get some cushion from the recent
power tariff hike with the city government planning to continue
marginal subsidy in place for such consumers. (Economic Times)
    ENERGY/COMMODITIES
    * Subsidiary of state owned Gujarat State Petroleum
Corporation, Gujarat State Petronet Ltd entered into
an agreement for syndicated loan of 50.8 billion rupees with a
consortium of 14 banks for its upcoming
Mallavaram-Bhopal-Bhilwara-Vijaipur pipeline project. (Economic
Times)
    * The Panna-Mukta-Tapti fields in the western offshore that
accounts for approximately 6.5 percent of India's domestic oil
and gas production has reached the production milestone of 500
million barrels of oil equivalent (mmboe) cumulative oil and gas
production, said the consortium operating the fields in a
statement. (Economic Times)
    * Reliance Industries will reopen its retail
petrol pumps in Gujarat and begin selling the fuel at the same
price as charged by PSU oil companies, the company said.
(Economic Times)
    * In the second major relief to cash-strapped airlines this
month, jet fuel (ATF) prices were cut by about 2 per cent on
Saturday. (Economic Times)
    * State-run energy giant ONGC may spend as much as
$8.8 billion over the next five years to buy oil and gas assets
globally to supply India's burgeoning energy needs, a report
said Friday. (Economic Times)
    * The Power Grid Corporation of India Limited a
state-owned power transmission company has earmarked 60 billion
rupees for expansion plans in Southern region, a senior official
said. (Economic Times)
    * GVK Group is planning to achieve financial closure for its
USD 10 billion Alpha Coal project in Australia by the first
quarter of 2013, GV Sanjay Reddy, Vice Chairman of GVK Power and
Infrastructure Ltd said. (Economic Times)
    * State-owned manganese-ore maker MOIL Ltd plans
to invest 2.4 billion rupees to nearly double the capacity of
its Balaghat mine in Madhya Pradesh to 0.8 million tonnes per
annum (LTPA).
    TELECOMS
    * Reliance Globalcom, the underseas cable unit of Indian
mobile operator Reliance Communications, said on
Monday it had launched a joint venture with Iraq that
substantially expands the country's broadband and
telecommunications links to the outside world. (Reuters) [ID:
nL6E8I16GV]
    AUTOS/INDUSTRIAL
    * Reliance Infrastructure Ltd., one of the largest
road developers in the country, has commenced the operation of
its sixth road project worth 8 billion rupees entailing four
laning of Gurgaon - Faridabad and two laning of Ballabhgarh -
Sohna road. (Economic Times)
    * The slowing Indian automotive market is taking a toll on
the tyre industry that is planning to rationalise production in
tandem with the weakening domestic market and channelise excess
stocks to exports. (Economic Times)
    * Mahindra & Mahindra's June vehicle sales rise to
16 percent to 41,322 vehicles from 35,584 vehicles a year ago.
(Reuters) [ID: nL3E8I107V]
    * Tata Motors reported sales for June, down 3
percent to 64,341 vehicles from 66,358 vehicles a year earlier.
[ID: nL3E8I107Z]
    * TVS Motors June sales down 7.5% to 168,693
vehicles from 182,456 vehicles a year earlier. [ID: nL3E8I107S]
    RETAIL
    * FMCG major Dabur India said its subsidiary Dabur
International Ltd has divested its entire stake in UAE-based
group firm Weikfield International. (Economic Times)
    * The Swedish cosmetics firm, Oriflame, best known for its
skin lotions, creams and moisturisers, is in talks to acquire a
health drink maker in India, a deal if consummated could take it
into an entirely new and unrelated business in a country that is
seeing an upsurge in the consumption of health and wellness
products. (Economic Times)
    * The UK-based casual dining restaurant chain, PizzaExpress,
has kicked off the process of starting its India operation,
almost eight months after it signed a joint venture partnership
with the Bharti Family Office. Ramit Mittal has been appointed
CEO for the India business. (Business Standard)
   NOTE: Reuters has not verified third-party stories and does
not vouch for their accuracy.
    
    OTHER FACTORS TO WATCH   
* Indian debt/FX factors to watch                   
* Euro, commodity currencies hold gains; PMIs eyed       
* U.S. crude falls $1 after weak China data               
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      
 

 (Compiled by Manoj Rawal; Editing by Subhadip Sircar)

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