November 27, 2012 / 3:42 AM / 5 years ago

Indian stocks to watch-Nov 27

GLOBAL MARKETS ROUNDUP  
    * Nifty futures on the Singapore Exchange rise 0.85
percent. The MSCI-Asia Pacific index excluding Japan
 is up 0.65 percent.     
    * Wall Street slipped on Monday, pulling back from last
week's gains, as retailers fell on concerns about heavy
discounts at the start of the U.S. holiday shopping season and
the overhang of the "fiscal cliff" kept investors wary of making
big bets.  
    * The euro hit a one-month high and Asian shares climbed for
a seventh straight day on Tuesday after a deal on new debt
targets for Greece and a political agreement on disbursing the
next installment of aid.  
      
    FACTORS TO WATCH  
    * Finance minister P Chidambaram will address the media at
4:15 p.m. at the Congress headquarters in New Delhi on how the
government intends to push its economic reforms in parliament
against the tactics of an obstructive opposition. 
    * Top officials from Reserve Bank of India and Chinese
government part of the 'Asian Financial Cooperation Conference'
in Mumbai. 
    * RBI Deputy Governor Anand Sinha speaks on panel at 0415
GMT on Basel III. Will India force its banks to raise capital
next year when the new rules kick in? 
    
    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.
    
    MACRO/POLICY
    * Moody's says India's rating outlook is stable.
 
    * India's central bank has relaxed overseas borrowing rules
for successful bidders in the country's cellphone airwaves
auction, making it easier for them to raise money to pay the
cash-strapped government. 
    * India's National Stock Exchange (NSE) has named Chitra
Ramkrishna as its new chief executive officer, effective April
1, 2013, the country's biggest stock exchange said on Monday.
NSE's current CEO Ravi Narain will become its non-executive vice
chairman, effective Apr. 1, it said in a statement.
 

    RESOURCES
    * ConocoPhillips, ONGC likely to explore
shale gas in India-PTI in Economic Times (link.reuters.com/rah34t)
 
    * India's ONGC Videsh said it would get an average 1 million
tonnes a year (20,000 barrels per day) for a period of over 25
year with a peak of 1.6 million tonnes from its planned
acquisition of a stake in the Kashagan Field in the Caspian Sea.
 
    * The oil ministry plans a uniform marketing margin for
natural gas produced in the country as it moves decisively in
the dispute between key customers and suppliers such as Reliance
Industries and Gail. Government sources said
that the ministry would make an exception only for liquefied
natural gas, piped supply to households and auto gas. (Economic
Times) (link.reuters.com/ceh34t)
    
    MAJOR DEALS/ACQUISITIONS
    * Struggling Indian carriers Jet Airways India Ltd 
and SpiceJet Ltd are in talks with Abu Dhabi's Etihad
Airways and Malaysia's AirAsia Bhd to sell minority
stakes, a senior government official with direct knowledge of
the talks said. 
   However, the Malaysian budget carrier dismissed the
speculation.   
    * Indian tractor maker Mahindra and Mahindra hopes
to strike a deal to buy up to half of British luxury sports car
maker Aston Martin by the end of this week, a person with direct
knowledge of the matter said on Monday. 
    * GlaxoSmithKline Plc plans to spend more than $1
billion to raise stakes in its Indian and Nigerian consumer
healthcare arms, as Britain's biggest drugmaker deepens its
emerging markets and non-prescription consumer health footprint.
 
 
    FUND RAISING
    * IndusInd Bank late on Monday launched a share
sale to raise up to $360 million, two sources with direct
knowledge of the deal said, as it looks to boost its capital
base. 
    * L&T Finance Holdings Ltd plans to raise about
$65 million by selling its 4.7 percent stake in private sector
lender Federal Bank, according to a source and a term sheet
obtained by Reuters. 
    * LIC Housing Finance Ltd plans to raise at least
2 billion rupees ($35.98 million) via two-year bonds at 9.37
percent, a source with direct knowledge of the deal said on
Monday. 
    * Indian engineering and construction company Lanco
Infratech plans to raise $2 billion from Chinese banks
and financial institutions to fund new power projects. The
fundraising will be led by state-controlled China Development
Bank, which is to lend $600 million, Lanco Infratech said in a
statement on Monday. 
    * The cold response to the Hindustan Copper share
sale by foreign institutional investors, despite pricing the
issue at a discount to its market price, has put the government
in a fix. The finance ministry is worried that it might not be
able to meet its fundraising target from the stake sale of NTPC
 and NMDC, next in the queue. (Business
Standard) (link.reuters.com/keh34t)

    * LIQUOR
    The pricing of the preferential share sale by United Spirits
Ltd (USL) to Diageo may face some resistance from
minority shareholders following the surge in USL stock, feel
market participants. (Economic Times) (link.reuters.com/deh34t)

    POWER/INFRA
    * Power plant operator and oil refiner Essar Energy 
reported an 18 percent rise in core earnings for the first half
as the benefit of a contribution from its British Stanlow
refinery offset its struggling Indian power business.
 
    * Indian firms, including Reliance Energy, Lanco Group, NIIT
and Ramky group, on Monday inked agreements with Chinese firms
for investment worth nearly $6 billion in India and China. "We
must aim at a magnitude and intensity of (economic) engagement
appropriate for the world's two most populous nations," said
Planning Commission deputy chairman Montek Singh Ahluwalia
giving details of the deliberations as part of India-China
strategic dialogue. (Economic Times) (link.reuters.com/feh34t)
    
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 firm after Greek deal, yen edges up               
* Oil falls on concerns about Greece debt, U.S. budget    
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      


 (Compiled by Dipika Lalwani and Arjun Kashyap)

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