March 20, 2012 / 3:37 AM / 5 years ago

Indian stocks to watch-March 20

MUMBAI, March 20 (Reuters) - 	
    GLOBAL STOCK MARKETS ROUNDUP              	
    * Asian shares were flat to lower, with Tokyo markets closed
for a public holiday.       	
    * The S&P 500 extended its rally on Monday to climb within
10 percent of its historic closing high, after Apple said it
would pay a $10 billion annual dividend and buy back stock. 
         	
       	
    KEY EVENTS TO WATCH   	
    * India's Supreme Court will hear a review petition filed by
the country's tax office challenging a January ruling that said
Vodafone was not liable to pay any tax on its $11 billion
acquisition of Indian mobile assets. 	
    * The India-China Conference organised by the International
Monetary Fund kicks off in New Delhi, with the attendance of
Christine Lagarde. (All day)	
    * India's finance secretary and other ministry officials
will address an industry body to explain the measures announced
in the federal budget last week. (0530 GMT)	
   * India's banking secretary will hold a news conference to
explain the measures announced in the federal budget relating to
the banking sector. (0630 GMT)	
    	
    INDIAN STOCKS TO WATCH	
    * Kingfisher Airlines was hit with a regulatory
challenge after the last of its independent directors quit amid
growing concerns about the struggling Indian carrier's survival.
 	
    * India is poised to ask airlines not to take part in the
European Union emissions trading scheme, a senior official said,
in what would be an escalation of a row over the EU's unilateral
move to charge for carbon emitted by flights in and out of
Europe. 	
    * Indian traders have struck deals to export 60,000 tonnes
of raw sugar to Iran for March-April delivery, three trade
sources said on Monday, marking their first sales of the
sweetener to Tehran since western sanctions were tightened at
the start of 2012. 	
    * Indian back-office company WNS Holdings Ltd may
launch the first of three customer-service centres in the United
States over the next quarter, its chief executive officer said,
as it looks to boost revenues in its second largest market.
 	
    * Finance Minister Pranab Mukherjee on Monday hinted at a
hike in diesel and cooking gas (LPG) prices after the budget
session of Parliament. (E conomic Times)	
    * The Mumbai Trans-Harbour Link moved a bit closer to
reality with the Mumbai Metropolitan Region Development
Authority saying it has received six pre-qualification bids,
involving 18 companies.	
    The bidders include various consortiums lead by Tata Realty
& Infrastructure, GMR -L&T, IRB
Infrastructure, IL&FS Transportation Networks
 -Unity Infrastructure. (Ec onomic Times)	
    * Bank of Baroda on Monday raised fixed deposit
rates of select maturities by up to 0.25 percentage points. BoB
becomes the first bank to revise short-term fixed deposit rates,
following the CRR reduction by RBI earlier this month. (Ec onomic
Times)	
    * The Godrej group is going to make substantial
investments in Oman's thriving healthcare facilities and allied
services industry, according to senior company officials in the
MENA region. (Ec onomic Times)	
    * The government will try to legislate at least 3-4 economic
bills in the ongoing session, pushing forward financial sector
reforms, Finance Minister Pranab Mukherjee said on
Monday.(Ec onomic Times)	
    * The Goods and Service Tax, already delayed by three years,
is unlikely to be implemented any time soon because most state
governments believe the government will not initiate major
economic policy changes as it approaches the 2014 general
elections. (Bus iness Standard)	
    * Thanks to its aggressive shopping in international arms
bazaars and very limited domestic supplies, India was the
world's largest arms importer between 2007 and 2011, according
to the latest data from the Stockholm International Peace
Research Institute (SIPRI). (Eco nomic Times)	
    * The government on Monday sought Parliament approval to
spend an additional 426.05 billion rupees in the current
financial year, including as compensation for oil marketing
companies; as well as food and fuel subsidies. (Bu siness
Standard)	
    * Banks have agreed to restructure micro-lender Bhartiya
Samruddhi Finance (BSFL)'s debts of about 7 billion rupees on
the condition that the Vijay Mahajan-led BASIX Group would offer
corporate guarantees. (Bu siness Standard)	
    * Reserve Bank of India has allowed foreign venture capital
investors to invest in securities through the secondary market
as well as through private arrangements or purchase from third
parties. (Ec onomic Times)	
    * The price band of the NBCC IPO, through which the
government aims to sell 10 per cent stake to raise 1.2 billion
rupees, has been fixed in the range of 90-106 rupees. The IPO
will hit the markets between March 23-27. (Bu siness Standard)	
    * A proprietary investment arm of Morgan Stanley is
in advanced talks to invest about $200 million for a 51% stake
in Continuum Energy Pte Ltd (CEPL), a Singapore-based holding
company developing wind power assets in India, said a source
directly briefed on the matter. (Tim es of India)	
    	
       FACTORS TO WATCH     	
   * Indian rupee report                                  
  	
   * Indian bond report                                    	
   * Dollar near one-week low, but seen supported         	
   * Brent dips, US oil rises on refinery problems         	
   * Global shares gains as dollar eases             	
   * S&P within 10 pct of record high                       	
   * Foreign institutional investor flows       	
   * For closing rates of Indian ADRs                    	
	
	
 (Reporting By Manoj Rawal and Abhishek Vishnoi; Editing by
Rafael Nam)

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