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Indian stocks to watch-Dec 3
December 3, 2012 / 3:13 AM / 5 years ago

Indian stocks to watch-Dec 3

GLOBAL MARKETS ROUNDUP  
    * Nifty futures on the Singapore Exchange rises 0.11
percent. The MSCI-Asia Pacific index excluding Japan
 is up 0.27 percent.     
    *  The S&P 500 wrapped up its fifth positive month in the
last six on Friday, although it ended the day flat as
politicians remain at odds about how to avoid the so-called
fiscal cliff.  
    *  Asian shares edged higher on Monday as further signs of a
stabilising Chinese economy boosted sentiment, but stagnant U.S.
budget talks which threaten to derail the world's largest
economy kept investors cautious and capped prices.  
      
    FACTORS TO WATCH  
    * Two allies of India's Congress party, the Bahujan Samaj
Party (BSP) and the Samajwadi Party (SP) hold separate meetings
in Delhi ahead of a vote in  parliament on supermarket reform. 
    * India PMI data at 0530GMT.
    * Singapore hearing of India's GMR Infrastructure's
 injunction order case against Maldives government's
arbitrary suspension of 25-year $511 mln airport modernisation
deal.
                                
    INDIAN STOCKS TO WATCH
For additional press items double click 
   
    MACRO/POLICY
    * India's stuttering economic reform programme faces a key
parliamentary test this week on whether to let foreign
supermarket chains such as Wal-Mart Stores set up shop,
in a vote that could pave the way for further measures to revive
the economy. (Reuters) 
    * India's consumer price index (CPI) for industrial workers
was at 9.6 percent in October, higher than an annual rise of
9.14 percent in September, government data showed on Friday.
(Reuters) 
    * India's infrastructure sector output grew 6.5
percent in October from a year earlier, higher than a revised
annual growth of 5 percent in the previous month, government
data showed on Friday. (Reuters) 
    * The Indian government will raise the limit on foreign
investments in government and corporate bonds by $5 billion
each, said a finance ministry official who declined to be named,
in a move intended to attract more funds into the country.
(Reuters) 
    * RBI Governor Duvvuri Subbarao has said the Reserve Bank is
ready to revisit the ideal inflation target of 4-5 percent,
which many feel is too low to attain given the current scenario.
(Economic Times)
link.reuters.com/fug44t
    
    FINANCE
    * IndusInd Bank Ltd board approved issue of 52.1
million shares at 384.00 rupees per share to qualified
institutional buyers aggregating to 20 billion rupees ($368.44
million). (Reuters) 
    * The government will use the capital infusion demand from
the state-run banks to nudge them to consider mergers and
consolidation to help evolve a stronger network of public sector
banks. (Economic Times) 
link.reuters.com/dug44t
    * A finance ministry-appointed panel probing alleged
irregularities in loans to cash-starved media house Deccan
Chronicle Holdings has found violations by some
lenders and has especially recommended a tightening of the
lending norms by state-run lenders, a source familiar with the
matter said. (Economic Times)
link.reuters.com/nug44t
    * Axis Bank has sent a legal notice to the
Maldives government to recover its $350 million loan given to
GMR Infrastructure after the Maldives government
decided to terminate a contract with the GMR Group under which
the Indian company was to operate the Male International
airport, according to a person familiar with the matter.
(Economic Times)
link.reuters.com/wug44t
    * Sahara group on Friday moved the Supreme Court against the
order of the Securities Appellate Tribunal (SAT) dismissing its
appeal against market regulator Securities and Exchange Board of
India (Sebi) in a case involving refund of about 240 billion
rupees with interest to about 30 million investors. (Mint)
link.reuters.com/byg44t
    
    IT
    * IT services firm Infosys Ltd, the first Indian
company to list on Nasdaq, will shift its American Depositary
Shares to the NYSE Euronext in a move it said is
intended to increase access to the stock for European investors.
(Reuters) 
    * Bangalore-based IT company MphasiS has acquired
Florida, US-based data analytics company Digital Risk, for $200
million (about 11 billion rupees) in an all-cash deal, a senior
executive of the company said. (Economic Times)
link.reuters.com/xeg44t
             
    AVIATION
    * Jet Airways (India) Ltd, India's second largest
carrier by passengers carried, will shortly approach the Foreign
Investment Promotion Board (FIPB) for permission to tweak its
ownership pattern to facilitate an equity investment by Etihad
Airways, the national airline of the United Arab Emirates (UAE),
two people aware of the plans said. (Mint)
link.reuters.com/zug44t
    
    * Amid market buzz on the promoters of SpiceJet 
reportedly planning to dilute their majority share, media tycoon
Kalanithi Maran has decided to increase his stake by five per
cent. (Business Standard)
   
     AUTO
   * India's Maruti Suzuki Nov sales rises 12.5
percent to 103,200 vehicles from 91,772 vehicles a year ago.
(Reuters) 
   * India's Tata Motors Nov sales falls 14 percent to
62,354 vehicles from 72,474 vehicles a year ago. (Reuters)
 
   * India's Mahindra & Mahindra Nov sales rises 18
percent to 48,143 vehicles from 40,722 vehicles a year ago.
(Reuters) 
   * India's Hero MotoCorp Nov sales falls 6.4 percent
to 502,305 vehicles from 536,772 vehicles a year ago. (Reuters)
 
   * Mahindra & Mahindra has received a strategic
endorsement from Unite - UK's biggest labour union for
partnering Aston Martin. (Economic Times)
link.reuters.com/bug44t
   * Tata Motors owned Jaguar Land Rover launched its
all new version of sports utility vehicle Range Rover with price
starting from 17.2 million rupees (ex-showroom Delhi). (Press
Trust of India in Economic Times)
link.reuters.com/mug44t
   * After having ended its alliance with Bajaj Auto 
to develop a small car in the sub-R2-lakh category, French
carmaker Renault has now decided to develop it for the Indian
market along with its global alliance partner Nissan. (Financial
Express)
link.reuters.com/xug44t
         
    RESOURCES/ENERGY
    * Faced with soaring demand, stagnant output at home and a
need to diversify from Iranian crude imports lost to Western
sanctions, Indian oil companies are hungry for deals like ONGC's
Kashagan buy that promise supplies sooner rather than later.
(Reuters) 
    * India's Adani Enterprises said it is planning a
$1.5 billion global bond issue to fund its Australian coal, rail
and port project. (Reuters) 
    * The government has initiated a probe into alleged dumping
of solar cells by Malaysia, China, Chinese Taipei and the US
following complaints by domestic players. (Press Trust of India
in Economic Times)
link.reuters.com/gug44t
    * The Adani Group's Carmichael coal block in Australia holds
an estimated 10 billion tonne of reserves and the company plans
to start commercial production from the mine by early 2016, its
chairman has said. (Economic Times)
link.reuters.com/kug44t
    * The national auditor has taken a stern stand on auditing
government revenue from oil and gas fields and has told the oil
ministry that it will also scrutinise coal bed methane blocks
awarded to firms such as Reliance Industries, Essar Oil,
Reliance Power and Great Eastern Energy, according to government
officials. (Economic Times)
link.reuters.com/rug44t
    * Reliance Industries and UK's BP Plc have
proposed to a do a single confirmation test on three natural gas
discoveries in KG-D6 block that have so far not recognised as
commercial finds by the Oil Ministry. (Press Trust of India in
Economic Times)
link.reuters.com/sug44t 
        
    POWER/INFRA
    * Approval for two cargo-handling contracts at Union
government-controlled ports located at Mormugao and Kolkata,
involving Gammon Infrastructure Projects Ltd and ABG Ports Pvt.
Ltd, respectively, has landed in uncertainty for unusual
reasons, potentially delaying capacity expansion plans at the
two ports that are struggling with shrinking cargo. (Mint)
link.reuters.com/cyg44t
    
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 hits 6-wk high vs dlr, tests key resistance       
                                            
* Oil posts first monthly rise since Aug                  
   
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      


 (Compiled by Manoj Rawal; Edited by Subhadip Sircar)

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