November 22, 2012 / 3:17 AM / 5 years ago

Indian stocks to watch-Nov 22

    * Nifty futures on the Singapore Exchange rise 0.33
percent. The MSCI-Asia Pacific index excluding Japan  
 is up 0.82 percent. 
    * U.S. stocks finished modestly higher on Wednesday, with
the S&P 500 up for a fourth session, although volume was
one of the year's lowest on the day ahead of the Thanksgiving
    * Asian shares rose on Thursday as China's manufacturing
sector expanded for the first time in 13 months in November,
adding to optimism that global growth slowdown may have turned a
corner after firm U.S. factory data. 
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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * India is to allow state-run Life Insurance Corp (LIC) to
triple the maximum stake it can hold in other companies to 30
percent in a move seen as helping a government sell-off of its
own holdings in a range of firms. (Reuters) 
    * The government also said on Wednesday it would kick off
sales by offloading a stake in Hindustan Copper on
Friday and in miner NMDC Ltd and explorer Oil India
 before Dec. 20. 
    * India's central bank Governor Duvvuri Subbarao went
against the suggestion of most external members of an advisory
panel to keep the key repo rate steady on Oct. 30, minutes of
the quarterly meeting released on Wednesday showed. (Reuters)
    * Finance Minister P Chidambaram has asked banks to lend a
helping hand to builders, particularly those involved in
construction of residential properties, in order to revive
faltering economic growth. (Economic Times)
    * Remittance inflows into India is expected to increase to
$70 billion in 2012, according to a World Bank report on global
migration and remittances released on Wednesday. (Mint)
    * The oil ministry said the government is not considering
any proposal to revise price for natural gas produced from
Reliance Industries' KG-D6 block before 2014.
(Economic Times)
    * Bharat Forge America, the U.S. subsidiary of Bharat Forge
 is in the final stage of either shutting down the
operations or an imminent sale, The Financial Express reported,
citing media reports from Michigan. (Financial Express)
    * Reliance Infrastructure, Tata Power 
and Crompton Greaves have placed bids to partner with
state-run NTPC in its foray into electricity
distribution, a senior official at NTPC said. (Economic Times)
    * The government will initiate action against nine companies
that have been booked by the Central Bureau of Investigation for
misrepresentation of facts to win coal mining licences, a senior
ministry official said. (Economic Times)
    * GMR Infrastructure is in talks with some large
companies to sell 51-74 percent stake in three operating toll
road projects as part of its plan to unlock value and lower its
debt, according to a senior company official close to the
development. (Financial Chronicle)
    * DuPont, the diversified US industrial group, is hoping to
be a billion-dollar company by sales in India by the end of
2012, said Rajeev Vaidya, president of Dupon'ts South Asia
operations. (Mint)

    * A panel of ministers is understood to have finalized a
fresh pricing mechanism, which will lead to a sharper reduction
in drug prices, unnamed sources told Times of India.
    Sources said that the new formula will take into account
"the simple average method" for determining the ceiling price of
all the molecules for drugs under a particular area versus the
"weighted average" method cleared in September by a panel.
(Times of India)
    * Cipla appointed Subhanu Saxena as Chief
Executive Officer. Saxena has been with Novartis AG,
where he led the Global Product Strategy and Commercialization
function, a position he has held for three years. 
    * The government will shortly clear a three-way partnership
between Russia's NIS Glonass, BSNL and MTNL to deliver
satellite-based navigation services in India, top officials in
the telecom department told The Economic Times. (Economic Times)
    * The government, while clearing Swedish furniture and
IKEA's application to set up shop in India, has
disallowed it from selling food in its planned stores and
offering financing to suppliers and customers. (Economic Times)
    * SpiceJet said it would issue convertible
warrants to its promoter, which could fetch the budget airline
nearly 2 billion rupees at the current price. (Economic Times)
    * Nitesh Estates Ltd is in advanced talks with
private equity firms to raise 4 billion rupees for a clutch of
residential projects-the real estate firm's first big
fund-raising since it listed its shares on the bourses two years
ago, chairman Nitesh Shetty said in an interview.(Mint)

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 supported by Greece aid hopes, yen gains          
* Oil ends up as pre-holiday covering offsets Gaza truce  
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      

 (Compiled by Manoj Rawal; Editing by Rafael Nam)

Our Standards:The Thomson Reuters Trust Principles.
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