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Indian stocks to watch-July 16
July 16, 2012 / 3:23 AM / 5 years ago

Indian stocks to watch-July 16

GLOBAL MARKETS            
    * The Nifty futures in Singapore Exchange rose 0.19
percent, while the MSCI Asia-Pacific index excluding Japan 
 rose 0.33 percent.             
    * U.S. stocks shed the sour tone that plagued equities all
week on Friday, with a rally that broke a six-day losing
streak.  
    * Asian shares extended their rally on Monday as fears of an
economic hard landing in China subsided, with last week's softer
growth data within expectations and Premier Wen Jiabao on Sunday
raising the prospects of more policy stimulus if needed.
   
       
    FACTORS TO WATCH        
    * India's WPI inflation data for June. The survey of 30
economists showed wholesale prices rising by an
annual 7.62 percent in June, slightly up from 7.55 in May.  
 (0630 GMT) 
    * Indian Trade Minister Anand Sharma will inaugurate a
textile event in New Delhi, and then host a press conference.
(0500 GMT)
    * Earnings on Monday: Castrol India, Exide
Industries, South Indian Bank and Tata
Coffee.
    
    INDIAN STOCKS TO WATCH
    FINANCIAL REGULATORY
    * U.S. President Barack Obama has weighed in the ongoing
debate over policy paralysis in India, calling for a new wave of
economic reforms in the world's largest democracy to reverse a
worsening investment climate. 
    Obama quoted U.S. business leaders as telling him that it
was "still too hard to invest in India". (Economic Times)
here
    * Reliance Mutual Fund is planning to launch a mammoth
infrastructure debt fund (IDF) targeted primarily at the
long-term funds of super-rich individuals, foreign institutional
investors, local institutions and corporate investors. (Business
Standard)
here
    * Mian Mohammad Mansha, Pakistan's richest man and chairman
of the $5-billion Nishat Group, says he is keen to launch
banking services in India. Mansha said the State Bank of
Pakistan is examining a proposal from his MCB Bank to
open at least three branches in Delhi, Mumbai and Amritsar.
(Economic Time)
here
    * India has asked the World Trade Organization to set up a
panel to adjudicate on its dispute with the United States over
U.S. duties on some imports of Indian steel products, the WTO
said on Friday. 

    ENERGY/COMMODITIES
    * Coal India will sign a memorandum of
understanding with Indian Oil Corporation to take over
50 percent in its explosives division, which will be spun off
into a different company where CIL and IOC will have 50 percent
stake each. (Economic Times)
here
    * India has kicked off wheat exports from government stocks
with an offer of 240,000 tonnes, which would be the first such
sale in at least four years, as it gradually tries to make space
in overflowing warehouses for the next harvest. 
    * With a sharp drop in the coking coal prices, International
Coal Ventures Ltd, a consortium of five major public sector
undertakings, is eyeing mines in mineral-rich countries
Australia and New Zealand at competitive valuations, Chairman C
S Verma said. (Business Standard)
here

    AIRLINES
    * India's debt-crippled Kingfisher Airlines has
cancelled 41 scheduled flights on Saturday, the firm said, after
some staff did not report for work in response to the company
failing to pay their salaries. 
    * With the Kingfisher Airlines silent over the payment of
salary dues, a section of its pilots are contemplating to drag
the management to the labour court, sources said. (Times of
India)
here
    * Buying Air India and Jet Airways tickets
from travel agents is going to cost more from Monday. These full
service airlines will reduce travel agent commission from 3
percent to 1 percent from Monday. (Times of India)
here
    
    INDUSTRIAL/INFRASTRUCTURE
    * Wind energy turbine maker Suzlon's 
founder-chairman, Tulsi Tanti, took a steep cut of in
compensation, as the company incurred losses last financial
year, according to Suzlon's annual report. (Business Standard)
here
    * The penalty slapped by the competition regulator on the
Cement Manufacturers' Association for facilitating cartel-like
behaviour has left several other industry associations confused
on what they can do and can't do as part of their mandate.
(Economic Times)
here
    
    AUTOS
    For the first time ever, the quarter ended June of the
current fiscal has witnessed multi-utility vehicles outsell
sedans in their respective price brackets. (Economic Times)
here

    PROPERTY
    * DLF on Sunday said it planned to cut its 230
billion rupees debt to about 170 billion rupees in this
financial year and asserted that it was not unduly "perturbed"
by the size of the debt, Group Executive Director Rajeev Talwar
said.
    The firm hopes to sell at least two out of its three
big-ticket non-core businesses by the year-end to cut debt.
(Business Standard)
here
    
    RETAIL
    * Unilever Corporate Ventures, the venture-capital arm of
Unilever, is scaling up its efforts in India to
incubate strategic start-ups.
    In May, the entity, which, in India, does not invest in
enterprises directly but routes it through other private equity
funds, closed its second investment in the country. (Economic
Times)
here
    * Flipkart needs about $150 million from new investors in
the next six to nine months even as bulge-bracket private equity
firms remain wary of the online retailer's initial public
offering plans in the U.S. (Times of India)
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 & risk currencies supported, Bernanke in focus    
* Oil up third day on China GDP, North Sea problems       
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      

 (Compiled by Divya Chowdhury; Editing by Rafael Nam)

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