December 6, 2012 / 3:12 AM / 5 years ago

Indian stocks to watch-Dec 6

7 Min Read

GLOBAL MARKETS ROUNDUP  
    * Nifty futures on the Singapore Exchange 0.22
percent higher. The MSCI-Asia Pacific index excluding Japan
 is also 0.13 percent up.     
    * A volatile trading session ended with U.S. stocks mostly
higher on Wednesday, even as Apple, the most valuable company in
the United States, suffered its worst day of losses in almost
four years.  
    * Asian shares were steady near 16-month highs on Thursday,
supported by hopes that U.S. lawmakers will reach a compromise
to avoid the so-called 'fiscal cliff' of year-end tax hikes and
spending cuts which threaten to push the U.S. economy back into
recession.  
      
    FACTORS TO WATCH  
    * Fiat-Chrysler Asia Pacific COO in Mumbai for strategic
launch. (0630GMT)
    * India's cabinet headed by Prime Minister Manmohan Singh is
likely to approve setting up of National Investment Board. (1200
IST)
    * India's upper chamber of parliament begins FDI in retail
debate.
    * Supreme Court in India will announce its decision on
Vedanta's planned bauxite mine in eastern Odisha state.
                                                   
    INDIAN STOCKS TO WATCH
For additional press items double click 
   
     MACRO/POLICY
    * India's fragile ruling coalition won a vote on allowing
foreign supermarkets to operate in Asia's third-largest economy
on Wednesday, in a key test of support for Prime Minister
Manmohan Singh and his flagship economic reform. (Reuters)
 
    * The Union Cabinet will on Thursday take up the proposal to
set up the National Investment Board (NIB), a body mooted by the
finance ministry to fast track project clearances and ensure
their timely implementation. The Cabinet will also consider the
new investment policy for urea. (Economic Times)
link.reuters.com/gyb54t
    * In a bid to attract long-term debt to time-consuming road
projects, the government is set to give infrastructure debt
funds (IDFs) designated to refinance bank loans to such projects
the facility of first charge on escrow accounts of terminated
projects. (Financial Express)
link.reuters.com/kyb54t

    FINANCE
    * The Sahara conglomerate was given more time by India's
Supreme Court to repay billions of dollars to millions of small
investors who bought the company's bonds that were later ruled
to be illegal. (Reuters) 
    * Karvy Financial Services, the non-banking finance company
(NBFC) of the Karvy Group, hopes to raise 1.5-2 billion rupees
from PE investors. Ernst & Young is believed to have been
appointed to find suitable ones. Amit Saxena, chief executive
officer, confirmed the development but would not disclose
financial details. (Business Standard)
  
    PHARMA/HEALTHCARE
    * The sale of Orchid Chemicals & Pharmaceuticals' 
assets to Hospira of the US for $200 million has hit a
roadblock because IDBI Bank has dragged the Chennai
firm to court for not adhering to the covenants of a loan
agreement, according to an industry official. (Financial
Chronicle)
link.reuters.com/wub54t
    * India's Strides Arcolab and Eli Lilly 
will jointly manufacture and distribute generic cancer drugs for
developing markets, the drugmakers said on Wednesday, as the
U.S. company looks to expand its presence in emerging markets.
(Reuters) 

    HOTELS
   * Tatas-owned Indian Hotels Company is working on a
revised offer to acquire British hospitality group Orient
Express, sweetening the price 10-15 percent in the coming days,
according to sources. (Economic Times)
link.reuters.com/xub54t

    AUTO
    * The $15.4-billion Mahindra Group appears to have
pulled out of the race for troubled luxury car brand Aston
Martin. According to sources in investment banking circles, the
brand's financial baggage is probably the reason why the Indian
auto major has cooled off towards the bid. (Times of India)
link.reuters.com/zub54t
    * German auto parts and tyremaker Continental Automotive
plans to invest more than e100 million (about 7.15 billion
rupees) in India over next three years, chief executive, Elmar
Degenhart told ET. (Economic Times)
link.reuters.com/tub54t
    * German luxury car maker Audi reported 89 percent jump in
sales in November at 805 units and said it has crossed the 8,000
units sales mark that it set for this year, a month ahead of
schedule. (PTI in Economic Times)
 link.reuters.com/hyb54t   
    
    RESOURCES/ENERGY
    * The Afghanistan government is likely to sign a concession
agreement in January with SAIL-led Afghan Iron and Steel
Consortium (AIFSCO), which plans to mine iron ore in
Afghanistan's Bamiyan province. (Financial Express)
link.reuters.com/vub54t
    *     The US' Export-Import (Ex-Im) Bank has extended $2.1
billion credit to Reliance Industries, which will be
primarily used to finance goods and services sourced from
America for expanding Reliance's projects at Jamnagar. (Economic
Times)
link.reuters.com/byb54t
    * JSW Steel is considering increasing prices by 3-4
percent as there has been a rise in input costs, a top company
official said. (PTI in Economic Times)
link.reuters.com/cyb54t
    * The Centre has refused to extend the in-principle approval
given to South Korean steelmaker Posco for its proposed
530-billion rupees multi-product special economic zone in
Odisha. (Economic Times)
link.reuters.com/dyb54t
    * The Russian government-owned OAO Gazprom is in talks with
Indian Oil Corp. Ltd for acquiring a stake in the 5
million tonnes per annum (mtpa) liquefied natural gas (LNG)
terminal planned at Ennore near Chennai, according to a person
aware of the development. (Mint)
link.reuters.com/fyb54t
    * The Children's Investment Fund (TCI) has slowly but
steadily increased its stake in Coal India from 0.06
per cent in October 2010 to 1.35 per cent in November, becoming
the  second-largest stakeholder in the firm. (Business Standard)
    * After scrapping its Bolivia plans, private steel firm
Jindal Steel and Power is scouting for coal properties
in other geographies including South Africa and Mozambique. (PTI
in 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 steady in early Asian trade                       
                                            
* Oil falls after US gasoline inventories leap higher     
   
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      


 (Compiled by Manoj Rawal; Edited by Subhadip Sircar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below