December 10, 2012 / 3:22 AM / 5 years ago

Indian stocks to watch-Dec 10

10 Min Read

GLOBAL MARKETS ROUNDUP  
    * Nifty futures on the Singapore Exchange 0.3
percent higher. The MSCI-Asia Pacific index excluding Japan
 is also 0.32 percent up.     
    * The Dow and the S&P 500 advanced modestly on Friday,
though another sell-off in Apple depressed technology shares and
kept the Nasdaq negative, overshadowing a sharply
better-than-expected jobs report.   
    *  Asian shares crept higher on Monday as investors took
heart from economic data from China and the United States that
raised hopes about the outlook for growth in the world's top two
economies.  
      
    FACTORS TO WATCH  
    * India trade data for November at 0630GMT. 
    * India auto sales for November at 0430GMT. 
    * India parliament watched for banking law amendment bill.
                                                     
    INDIAN STOCKS TO WATCH
For additional press items double click 
   
     MACRO/POLICY
    * The federal government's subsidy burden during 2012-13
could turn out to be much less than what many thought, helping
finance minister P Chidambaram in his plan to restrict the
fiscal deficit to 5.3 percent of the gross domestic product
(GDP). (Financial Express)
link.reuters.com/sup54t
    * RBI Deputy Governor K C Chakrabarty has come down heavily
on banks showing higher profits without providing adequately for
bad loans, and said if need be, the central bank may hike
provision coverage ratio (PCR) levels. (Press Trust of India in
Economic Times)
link.reuters.com/fyp54t
    * Exporters are unlikely to get any sops from the
government, at least till the next financial year, even as they
face tough times in international markets because of global
slowdown, according to a senior government official. (Press
Trust of India in Economic Times)
link.reuters.com/gyp54t
    
    FINANCE
    * Union Bank of India expects fund infusion of
about 10 billion rupees as part of recapitalisation plan of the
government. (PTI in Economic Times)
link.reuters.com/kyp54t
    
    IT/TECH
    * Wipro Ltd, India's No.3 software services
provider, will acquire L.D. Waxson Group, a Singapore-based
consumer goods company, in an all-cash deal worth about $144
million, the Indian company said in a statement. (Reuters)
 
   * Wipro has bagged a $200-million (10.9 billion rupees)
technology service contract in Europe, believed to be one of the
largest deal wins for India's third-largest software services
exporter this year, according to a person with direct knowledge
of the negotiations. (Economic Times)
link.reuters.com/myp54t
          
   AVIATION
   * Kingfisher Airlines Ltd promoter Vijay Mallya met
the aviation regulator on Friday and assured it that the airline
plans to submit a revival plan before the end of the month and
was in talks with investors, and airport operators and oil
companies to which it owes money. (Mint)
link.reuters.com/qup54t
   * Reviewing its earlier decision to abolish airport
development fees from January 1, 2013, the government now plans
to lower the charge by spreading it over a longer tenure.
(Economic Times)
link.reuters.com/dyp54t
    
    TELECOM
    * A panel of Indian ministers wants to cut the reserve price
of mobile phone airwaves by 30 percent in four zones to attract
bidders that shunned last month's auction because the prices
were too high. (Reuters) 
    * Russian conglomerate Sistema has set a deadline for the
government to finalise a strategy for restoring its quashed
mobile permits here, and warned that failure to resolve the
issue would hit diplomatic ties between the countries. (Economic
Times)
link.reuters.com/byp54t
    * Second generation (2G) telecom base stations, which are
currently installed on 376,000 towers in the country are likely
to increase to 420,000 by 2017, according to a report. (Press
Trust of India in Economic Times)
link.reuters.com/ryp54t
    
    MEDIA
    * Enthused by the surge in demand for digitisation, some of
the leading domestic direct-to-home (DTH) service companies,
such as the Tatas, Videocon and Dish TV, are looking to raise
funds - from initial public offering (IPO), listing abroad or
from private equity players. (Business Standard)
link.reuters.com/wup54t
    * India's oldest industrial house, the Tata Group, is
sketching big plans for children's edutainment market, a move
signalling the tea-to-telecom conglomerate's interest to tap
business opportunities around the country's 330 million
population aged below 15 years. (Times of India)
link.reuters.com/typ54t

    RETAIL
    * Delhi may soon become the first city in the country to
have global retail chains like Wal-Mart and Tesco, with Delhi
government all set bring a bill in the winter session of
assembly beginning Tuesday to remove hurdles in ensuring
"effective" implementation of FDI in multi-brand retail. (Times
of India)
link.reuters.com/vyp54t
    
    HOTELS
    * Hardcastle Restaurants, master franchisee for south and
west India operations of burger chain McDonald's Corp,
said it will merge with its parent Westlife Development Ltd
. (Reuters) 

    RESOURCES/ENERGY
    * A panel of ministers will meet on Monday to finalise the
price for selling a 10 percent stake in state-run miner NMDC
 as the government makes one more attempt to add
momentum to its disinvestment programme. (Economic Times)
link.reuters.com/kup54t
    * A panel appointed by India's top court has recommended
scrapping 42 iron ore mining leases in Goa state until mining
companies submit plans to deal with the environmental impact and
legal details involved, a lawyer who attended the hearings said.
(Reuters) 
   * In a bid to help revive operations of the Lanjigarh
refinery, the steel & mines department of Odisha has started the
process of identifying prospected bauxite deposits where mining
operations can commence with the statutory clearances. (Business
Standard)
link.reuters.com/tup54t
   * The department of disinvestment (DoD) will make a
presentation to the government on Dec. 15 for the proposed
follow-on public offering (FPO) of NTPC Ltd, targeting to raise
around 130 billion rupees. (Business Standard)
link.reuters.com/zup54t
   * NTPC may consider downsizing its Katwa project in
West Bengal by half so that it can be built within the 550 acres
that has been given to the power company by the state. (Economic
Times)
link.reuters.com/nyp54t     
    * Coal India is in the process of floating a
special purpose vehicle in 50:50 joint venture with Indian Oil
Corporation (IOC) that will take over the explosive division of
the oil marketing company. (Economic Times)
link.reuters.com/pyp54t
    * Indian Oil Corporation Limited will invest over
27 billion rupees in its two ongoing multipurpose pipeline
projects originating from Paradip. (Press Trust of India in
Economic Times)
link.reuters.com/qyp54t
    * Electricity trader PTC India Ltd has deferred plans for a
$1 billion energy infrastructure fund, reflecting the waning
interest in the country's power sector, once a big draw for
investors but now buffeted by a resource crunch and corruption
allegations on coal block allotments. (Mint)
link.reuters.com/xup54t

    INFRA
    * Talks between the Jaypee Group and the Aditya Birla Group
for sale of the former's cement units in Gujarat have reached
the last lap and a decision is expected any time, according to a
source directly involved. (Business Standard)
link.reuters.com/vup54t
    * Realty firm DLF is likely to sell a substantial
part of its wind energy business to Bharat Light & Power for
about 7 billion rupees. (Press Trust of India in Economic Times)
    * Denmark-based AP Moller-Maersk Group, one of the largest
port operators in the world, has emerged as the front runner to
acquire a significant stake to be offloaded by Infrastructure
major, Larsen and Toubro at Dhamra Port, located in
Orissa. (Economic Times)
link.reuters.com/syp54t
   
  AGRI COMMODITIES
    * With farmer organisations protesting against
implementation of Rangarajan Committee report on de-regulating
sugarcane sector, the government has authorised state
governments to fix prices for the produce. (PTI in Economic
Times)
link.reuters.com/jyp54t

    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 hugs 2-week low as Italy hit by pol storm         
                                            
* Brent steady above $107                                 
   
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      


 (Compiled by Manoj Rawal; Edited by Subhadip Sircar)

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