November 12, 2012 / 3:27 AM / 5 years ago

Indian stocks to watch-Nov 12

GLOBAL MARKETS ROUNDUP          
    * Nifty futures on the Singapore Exchange fell 0.1
percent. The MSCI-Asia Pacific index excluding Japan 
 rose 0.1 percent.             
    * U.S. stocks advanced on Friday but failed to make up for
what turned out to be the worst week for markets since June, as
investors turned their attention from the presidential election
to the coming negotiations over the "fiscal cliff.         
    * Asian shares were capped on Monday as investor sentiment
was weighed down by concerns over U.S. fiscal woes as well as
Greece's bailout.  
     
    FACTORS TO WATCH       
    * Sept factory data (around 0530 GMT) 
    * Oct CPI, trade data (around 0530GMT) 
    * India to begin auction of 2G airwaves. 
    * Earnings: DLF, Jaiprakash Associates,
Spicejet.
    
    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
    * Leading emerging market countries are discussing pooling
up to $240 billion in foreign exchange reserves to protect
themselves from short-term liquidity pressures, according to
documents outlining plans by the five BRICS nations. (Reuters)
 
    
    ENERGY/COMMODITIES
    * Coal India posted a 19 percent rise in
second-quarter profits on Friday and said it expects to step up
production this year after years of sluggish output. (Reuters)
 
    * Tata Steel does not expect an improvement any
time soon to weak market conditions that sent it to a surprise
quarterly loss, the company said on Friday. (Reuters)
 
    * Essar Oil swung to a July-September net profit
of 1.05 billion rupees from a loss of 1.66 billion rupees a year
ago. (Reuters) 
    * Essel Mining has pulled out of the race to acquire
Australia's Northern Iron Ltd, citing variability in
production at Sydvaranger iron project of the firm and its
impact on costs, The Economic Times reported citing a stock
filing from Northern Iron. (Economic Times)
here
    * Power Finance Corp along with Tata Capital
 will set up a $1 billion private equity fund that
would mainly focus on financing for domestic power projects, PFC
Chairman and Managing Director Satnam Singh told reporters.
(Press Trust of India via Economic Times)
here
    * Cairn India and its joint venture partners are
planning to invest about $100 million to drill a deeper well in
the Krishna-Godavari basin, Press Trust of India reported citing
unnamed sources. (PTI via Economic Times)
here
    * Lanco Infratech plans to quadruple annual coal
production to 16 million tonnes by 2015 from its Griffin mines
in Australia, Lanco's Chief Operating Officer of Finance T
Adibabu told Press Trust of India. (PTI via Economic Times)
here
    * Steel Authority of India Ltd may buy an equity
stake in a new port planned by the Union government at Sagar
Island in West Bengal, as the state-owned firm looks to save on
logistics costs, two company executives said. (Mint)
here
    
    INFRASTRUCTURE
    * Planning Commission deputy chairman Montek Singh Ahluwalia
has said that most ministries are now largely in support of
creating a National Investment Board (NIB) to fast-track
approval of projects. (Times of India)
here

    AUTOS
    * Tata Motors will undertake a three-day closure
at its Jamshedpur plant on Nov 12-14, The Economic Times
reported. (Economic Times)
    Confirming the development, a Tata Motors spokesperson said
the block closure has been planned to coincide with Diwali,
according to the newspaper.  
    "We do not want inventory pile up at the dealers' end and
wanted to adjust our production as per demand," the spokesperson
said, according to The Economic Times. 
here
    
    RETAIL
    * Pantaloon Retail and Future Ventures India
 will demerge their fashion businesses into a new
listed unit that will simplify the businesses into three main
segments, the two companies said late on Friday. (Reuters)
 
    
    TELECOMS
    * Bharti Airtel closed its network to incoming
text messages from subscribers of two other operators, Aircel
and Reliance Communications, the company said. 
(Economic Times)
here
    * Sistema, which has a joint venture with Shyam Group called
Sistema Shyam Teleservices, has said it will not exit the Indian
telecom market as it is hopeful of a positive response after
challenging a government decision to remove its licenses, SSTL
President and CEO Vsevolod Rozanov told Press Trust of
India.(Economic Times)
here
    
    PHARMA
    * Arvind Remedies Ltd is planning to invest 1.9
billion rupees in its Ayurveda facility in Chennai to
manufacture drugs, Arvind's CEO B Arvind Shah told Press Trust
of India. (PTI via Economic Times)
here

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 rises as Greece approves budget law               
* Oil up on U.S. data; gasoline jumps on delivery jitters 
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      
 

 (Compiled by Manoj Rawal; Editing by Rafael Nam)

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