November 26, 2012 / 3:47 AM / 5 years ago

Indian stocks to watch-Nov 26

GLOBAL MARKETS ROUNDUP 
    * Nifty futures on the Singapore Exchange rise 0.38
percent. The MSCI-Asia Pacific index excluding Japan
 is up 0.16 percent.   
    * U.S. stocks rose for a fifth day during a
holiday-shortened, thinly-traded session on Friday as investors
picked up recently beaten-down shares of large technology
companies. 
    * Asian shares rose on Monday on the hope Greece can avoid a
near-term bankruptcy, with euro zone finance ministers meeting
later in the day, but a regional Spanish vote favouring
separatist parties clouded Madrid's push for fiscal
austerity 
     
    FACTORS TO WATCH 
    * Government holding all-party meeting to break deadlock on
the opposition demand for a debate-and-vote on new retail
policy. (0630 GMT)
    * Top officials from the Reserve Bank of India and Chinese
government will be part of the 'Asian Financial Cooperation
Conference' on Nov. 26 and Nov. 27 in Mumbai. (0445 GMT)
    * India farm minister, Sharad Pawar, to inaugurate an
international congress on agronomy. (0400 GMT)
    * Aston Martin stands at the centre of an international
takeover battle after Indian motors group Mahindra trumped an
Italian bid for half of the British luxury car maker.
 


     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.
    
    POLICY
    * India's economic growth probably languished near a
three-year low of 5.5 percent in the quarter that ended in
September, Finance Minister P. Chidambaram said on Saturday, a
pace that will increase the pressure on the government to enact
tough reforms. (Reuters)
here
    * The government's disinvestment programme, which has
struggled to get off the ground, could face another setback as
the oil ministry has expressed reservations about the proposed
stake sale in Oil India and Engineers India.
(Economic Times)
here
    * Land Bill will see important changes before it is cleared
by the cabinet and introduced in parliament. (Financial Express)
here
    * A top government official defended on Saturday India's
decision to permit IKEA to sell only furniture products in the
country, curtailing the Swedish retailer's investment plans in a
fast growing consumer market. (Reuters)
here

    REGULATORY
    * The Securities and Exchange Board of India, or Sebi, has
warned as many as 40 listed private companies that the June 2013
deadline for promoters to reduce their holding to 75 percent
would not be relaxed, and firms as well as their owners risked
sanctions if they failed to comply. (Economic Times)
here
    * Sebi has filed appeals in the Bombay High Court against an
order passed by the Central Information Commission (CIC) earlier
this month in the RIL insider trading case. (Business Standard)
here
    * The Reserve Bank of India (RBI) will soon come up with
guidelines to simplify know-your-customer (KYC) norms and to
make Aadhaar the proof for address and identification. (Business
Standard)
    
    FUND RAISING
    * India raised 8.1 billion rupees ($147 million) by selling
shares of state-run Hindustan Copper Ltd on Friday,
kick-starting a stalled divestment programme that is crucial to
reining in a ballooning fiscal deficit. (Reuters)
 
    * Cash-starved Indian companies are increasingly turning to
foreign markets to raise funds. At least half a dozen companies,
such as ONGC Videsh Ltd (OVL), Dish TV, Power Grid
Corp, Essar Oil and Gulf Oil, are
looking to raise around $6 billion over the next few months
through either equity, bonds or loans from overseas markets.
(Business Standard)
here
    * Global logistics services provider DHL Express' share sale
in India's Blue Dart Express Ltd was covered nearly
four times in a $172 million deal, revised stock exchanges data
showed on Friday. (Reuters) 
    * The government is considering the option of selling its
residual stake in Hindustan Zinc and Balco, two
erstwhile PSUs that were sold to mining giant Vedanta Resources
during 2001-2003. (Financial Express)
here
    
    * Non-banking finance company Bajaj Finance has
sought market regulator Sebi's approval to raise up to 7.50
billion rupees through a rights issue. (Financial Express)
here

    RESOURCES
    * India's Tata Steel said on Friday it would cut
900 jobs across Britain as part of a restructuring plan aimed at
stemming losses in weak European markets. (Reuters)
 
    * India's state-run Oil and Natural Gas Corp plans
to raise up to $900 million in the first quarter of 2013 through
a dollar bond issue to fund its acquisition in Azerbaijan, a top
official said.  (Reuters) 
    * The quality of thermal coal for exports is dropping,
prompting concern among utilities and mining companies that
coal-fired power plants will become more expensive to run and
will fall foul of stricter environmental laws. (Reuters)
 
    * Softening its stand on CAG audit, Reliance Industries
 has agreed to a scrutiny of its expenses in the
flagging KG-D6 gas block by the official auditor even after
expiry of the contractual period. (Financial Express)
here
    
    AVIATION
    * The buzz on the street is getting louder on a possible
deal between Naresh Goyal's Jet Airways and
Middle-Eastern carrier Etihad Airways. (Economic Times)
    
    PHARMA
    * GlaxoSmithKline Plc plans to raise its stake in
its Indian consumer products arm GlaxoSmithKline Consumer
Healthcare Ltd to 75 percent from 43.16 percent
through an open offer, the manager to the offer said on Monday.
 
  * Indian drugmaker Ranbaxy Laboratories Ltd has
recalled its generic version of Pfizer Inc's
cholesterol-lowering drug Lipitor in the United States after
certain batches were found to contain glass particles. (Reuters)
 


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 7-month high vs yen, supported on Greek hopes 
* Oil rises on Egypt violence, euro zone optimism         
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      

 (Compiled by Dipika Lalwani)

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