GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange 0.24
percent higher. The MSCI-Asia Pacific index excluding Japan
is also 0.49 percent up.
* U.S. stocks finished slightly lower in a quiet session on
Tuesday as the back-and-forth wrangling over the "fiscal cliff"
gave investors little reason to act.
* Asian shares were little changed on Wednesday, with prices
capped by continuing concerns over whether the United States can
avert an economic slump as lawmakers struggle to break a budget
impasse by year end.
FACTORS TO WATCH
* India parliament votes on opening up supermarket sector to
* India cbank chief at events in eastern city of Kolkata.
* GMR presser over Male airport contract termination at 0630
* Goldman Sachs India chief economist at media briefing at
* India November Services PMI at 0500GMT.
* India CFO conclave in Mumbai.
INDIAN STOCKS TO WATCH
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* Sterlite Industries, a unit of Vedanta Resources
, plans to raise 5 billion rupees selling ten-year bonds
with a call option at the end of five years, to refinance
existing debt as interest rates have softened. (Economic Times)
* Indian jewellery retailer PC Jeweller Ltd plans to raise
up to $111 million through an initial public offering opening
(IPO) on Dec. 10. PC Jeweller said it would offer 45.1 million
shares, or about a quarter of its equity capital, in the IPO. It
set a price band of between 125 rupees and 135 rupees a share.
* The Enforcement Directorate has been asked to investigate
alleged violation of foreign direct investment regulations by
e-commerce company Flipkart and cash & carry chain Bharti
Walmart, the Lok Sabha was informed on Tuesday. (Press Trust of
India in Business Standard)
* Fortis Healthcare has entered into a strategic
tie-up with Dubai-based Majid Al Futtaim Healthcare to operate
and manage that firm's clinics with plans to expand the
partnership in the Gulf region. (Press Trust of India in
* Piramal Enterprises' subsidiary, Decision
Resources Group, a research and advisory firm with focus on
healthcare insights and analysis, announced Tuesday it had
acquired Abacus International, a firm providing evidence-based
global market access solutions to healthcare companies.
* The empowered group of ministers (EGoM) on telecom is
scheduled to meet on Friday to discuss a roadmap for spectrum
that remained unsold in the recent auction. (Financial Express)
* Apollo Tyres on Tuesday said it proposed to set
up a 2x7.5 Mw coal-based thermal power plant on 2.47 acres at
its facility at Oragadam, near Chennai. (Press Trust of India in
* Tata Motors, which imports over 20 billion rupees
worth auto components annually, is looking to reduce cost by
setting up joint ventures with South Korean auto firms in the
country. (Financial Chronicle)
* India's largest aluminium maker, Vedanta Aluminium Ltd
, will temporarily shut its alumina refinery in Odisha
state due to bauxite shortages, the president of the company, a
unit of London-listed Vedanta Resources, said. (Reuters)
* The government has decided to sell its 10 percent stake in
oil explorer and producer Oil India by Jan. 15 after
some government and industry officials said it would be
difficult to hold effective roadshows abroad because of the
Christmas-New Year break. (Economic Times)
* Cash-strapped wind turbine maker Suzlon may have
got the in-principle approval for restructuring its debt of over
140 billion rupees but bankers are unlikely to give in to all
the company's demands, according to well-placed sources.
* Gujarat-based 400-billion rupees conglomerate Adani Group
on Tuesday denied the allegations by anti-graft activist Arvind
Kejriwal that it received cheap land from the Gujarat
government. (Business Standard)
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 vs USD, AUD bills give RBA the brush off
* Oil falls on U.S. budget, fuel demand concerns
* Foreign institutional investor flows
* For closing rates of Indian ADRs
(Compiled by Manoj Rawal; Edited by Subhadip Sircar)