August 21, 2012 / 3:26 AM / 5 years ago

Indian stocks to watch-Aug 21

GLOBAL MARKETS
    * The Nifty futures in Singapore Exchange fell 0.1
percent, while the MSCI-Asia Pacific index excluding Japan
 rose 0.7 percent.
    *  U.S. stocks were flat on Monday on signs of fatigue after
a six-week run of gains as the European Central Bank quelled
speculation about the form of market intervention that may be
taken to stem the region's debt crisis. 
    * Shares edged up on Tuesday as investors held on to hopes
the European Central Bank will act to soothe borrowing costs.
  
 
    FACTORS TO WATCH
    * Maruti Suzuki  restarts production at its
Manesar factory after sacking 500 workers over a deadly riot
that shut the plant, costing tens of millions of dollars in lost
output. 
    * July consumer price index data (1100 India
time; 0530GMT). 

    INDIAN STOCKS TO WATCH
    FINANCIAL/REGULATORY
    * India's finance minister urged state-run banks to increase
lending for consumer durables on Saturday, saying this would
help boost the manufacturing sector which has been caught up in
the slowdown of the economy. 
    * State Bank of India and ICICI Bank are
among those that would be affected if RBI implements its
proposed guidelines on banks' exposure to their group entities,
Moody's said on Monday. 
    Last week, the Reserve Bank released draft guidelines to
limit banks' exposure to their own group non-financial and
financial entities. (Economic Times)
here
    * The private equity arm of Citigroup is set to invest $125
million in Prometheon, a special purpose vehicle (SPV) created
by holiday and travel firm Cox & Kings for the
acquisition of U.K.'s Holidaybreak in 2011, two people familiar
with the matter said. (Economic Times)
here
    * Kohlberg Kravis Roberts is close to providing a 4 billion
rupees loan to Chennai-based Sanmar Group to ease its cash
position, a person close to the development said. (Economic
Times)
here
    
    ENERGY/COMMODITIES
    * The Central Bureau of Investigation (CBI) is likely to
begin filing formal cases against companies involved in the coal
mine allocation controversy by the end of August, a senior
official in the agency told ET on condition of anonymity.
(Economic Times)
here
    * The petroleum ministry and state oil firms plan to raise
diesel and petrol prices next month as crude oil rose to a
three-month high last week and diesel consumption has soared
because of the weak monsoon and poor power supply, government
and industry officials said.
    Diesel is expected to be costly by 4-5 a litre and petrol
rates could be raised by 3 a litre, officials said. "Price hike
is inevitable, but the timing and quantum of hike would be
politically decided after the monsoon session," an official
said, requesting anonymity. (Economic Times)
here
    * BP is preparing to invest $4-5 billion in Reliance
Industries' KG-D6 block over the next few years after
the partners scaled up the estimate of recoverable gas reserves,
sources close to the British company said. (Financial Express) 
link.reuters.com/fyk22t 
    * Reliance and BP are in talks to supply LNG to power
projects in Andhra Pradesh via its JV, India Gas Solutions,
according to industry sources.
link.reuters.com/byk22t 
    * ONGC Videsh Ltd, the overseas arm of state-owned Oil &
Natural Gas Corp, is eyeing a stake in Russia's
ambitious Arctic Ocean oil and gas projects with ExxonMobil and
ENI.
    OVL on May 4 wrote to Russian state oil company
Rosneft  expressing interest in taking stake in one of
the three joint ventures announced to explore for oil and gas
beneath Arctic Ocean, sources privy to the development said.
(Economic Times)
here
    * Lanco Infratech has said the long drawn A$3.5
billion legal battle with Australia's Perdaman Industries over
coal supplies is expected to be resolved by March next year. 
    Stating that the company does not foresee any risk from the
case, Lanco's Chief Operating Officer T Adibabu said there was
no need for an out of court settlement.(Economic Times)
here
    * Odisha's pollution control board has ordered Hindalco
Industries to shut its captive power plant near
Hirakud after chemicals from its breached ash pond damaged crops
in the adjoining areas. (Economic Times)
here
    * Mangalore Refinery and Petrochemicals Ltd has
issued a rare tender to import high sulphur crude for loading in
October, a document showed on Monday, a purchase that may be
motivated by a need to replace Iranian oil imports.
 
    * Northern states, including Delhi, could face power cuts as
three hydro-power plants that together supply about 3,000 MW of
electricity to the region have been shut down. (Economic Times)
here
    * Ferro Alloys and Mineral Division (FAMD), the non-steel
business unit of Tata Steel, is planning to add 55,000
tonnes of ferro chrome and silico manganese production capacity
each in Gopalpur and Nayagarh of Odisha by 2014. (Economic
Times)
here
    
    IT
    * Infosys won a harassment case filed by its
employee Jack Palmer, after a U.S. judge dismissed his claims
and threw out the case on Monday. (Economic Times)
here
    * India will seek U.S. help in tracking down the origins of
offensive web pages hosted on U.S. servers which have been used
to inflame Muslim sentiments. (Economic Times)
here
    * Tulip Telecom today said it has received firm
commitments of $ 50 million towards subscription of its foreign
currency convertible bonds issue. (Economic Times)
here
    
    TELECOM
    * Telenor  said Monday it has 'directly settled'
$1.75 billion in loans its Indian joint venture operation
Uninor. (Economic Times)
here
    * Bharti Airtel is once again exploring the option
of listing its tower arm, Bharti Infratel, to raise funds for
itself and provide an exit option to private equity firms,  said
said a person directly involved in the process, requesting
anonymity as the process is underway.(Economic Times)
here

    PHARMAS
    * India's highest court will hear final arguments over a
case that pits Novartis AG against India's patent
office, which has refused to grant a patent on the company's
cancer drug Glivec on the grounds that it is not a new medicine
but an amended version of a known compound. 
    * Indian drugmaker Wockhardt Ltd said on Monday it
has received approval from the U.S. Food and Drug Administration
to sell Entacapone tablets, which are used in treatment of
Parkinson's disease. 
    * Bilcare Ltd said it will sell its global clinical
supplies business in the U.S. and U.K. for $61 million to
Ireland-based United Drug. (Economic Times)
here
    * An inter-ministerial group has asked the Department of
Industrial Policy and Promotion (DIPP) to consider allowing
foreign direct investment of up to 49 percent through automatic
route in existing Indian pharmaceutical firms. (Economic Times)
here
    
    AIRLINES
    * Aviation minister Ajit Singh is learnt to be reviewing the
controversial current rule that an airline must be five years
old and have a fleet of at least 20 aircraft to become eligible
to fly overseas. (Times of India)
link.reuters.com/dyk22t 

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 listless on ECB doubts; Aussie looks at RBA       
* Oil lower in choppy trading; Euro zone issues weigh     
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      

 (Compiled by Divya Chowdhury; Editing by Rafael Nam)

Our Standards:The Thomson Reuters Trust Principles.
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