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UPDATE 1-Indian stocks to watch-Dec 12
December 12, 2012 / 3:32 AM / 5 years ago

UPDATE 1-Indian stocks to watch-Dec 12

(Adds Global Markets Roundup, Factos to Watch sections)
    * Nifty futures on the Singapore Exchange rose 0.13 
percent. The MSCI-Asia Pacific index excluding Japan 
 gained 0.38 percent.      
    * U.S. stocks rose on Tuesday, led by gains in technology
companies, helping the S&P 500 end at its highest level
since Election Day. 
     *  Asian shares rose buoyed by strength in global equities
markets, firmer economic sentiment in Germany and hopes of a
deal from U.S. budget talks, while the dollar came under
pressure ahead of the Federal Reserve's policy decision.
    * October industrial output data (around 0530 GMT). 
    * India November retail inflation data around 0530 GMT. 
    * India govt looking to raise about $1 billion by divesting 
a stake in state miner NMDC. 
    * India parliament watched for fate of banking reforms bill.
    * RBI deputy governor HR Khan at industry event at 1130 GMT.
For additional press items double click 
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * The Indian government's wide fiscal deficit and a heavy
debt burden are the most "significant rating constraints" to the
country's sovereign rating, Standard & Poor's said, reiterating
its warning that India faces a one-in-three chance of being
downgraded to junk over the next 24 months. (Reuters)
    * North Korea launched its second long- range rocket of 2012
on Wednesday and may have finally succeeded in putting a
satellite into space. (Reuters) 
    * Credit Analysis and Research (CARE) has received
bids for more than 40 times the number of shares on offer in a
stock market debut set to raise up to $99 million. (Reuters)
    * The Supreme Court on Tuesday ruled that banks were
entitled to declare as a wilful defaulter any person who did not
repay his dues under a foreign exchange derivatives contract.
(Business Standard)

    * The floor price for the sale of shares in India's state
miner NMDC Ltd has been set at 147 rupees a share, a
finance ministry official said on Tuesday, in a deal that could
raise $1.1 billion. (Reuters) 
    * India is considering raising the cap on the number of
subsidised LPG cylinders available to households to nine per
year, Oil Minister Veerappa Moily said on Tuesday. (Reuters)
    * Partners GVK Power of India and Hancock Coal of
Australia have signed a preliminary deal with a local firm to
provide third-party rail hauling services for undeveloped coal
projects in Australia's Queensland state. (Reuters)
    * India's state oil companies intend to press ahead with
plans to buy stakes in Canada's oil sands and believe they will
not run afoul of tougher Canadian rules on foreign ownership of
the sector. (Reuters) 
    * Bharti Airtel Ltd, is talking to key bankers to
raise funds from abroad by the first quarter of 2013, a banking
source said. (Business Standard)
    * Motorola Mobility is indefinitely suspending
operations at its phone assembly and packaging unit in Chennai
starting from February next year. William Moss, spokesperson for
Motorola Mobility, said the move was part of a global supply
chain streamlining. (Times of India)
    * Japan's NTT Docomo has invested 7.84 billion
rupees by subscribing to fresh equity in Tata Teleservices in
the last two financial years ending March 2012, adding to its
existing stake, according to Tata Teleservices' 
annual report. (Business Standard)
    * BT is selling its 9.1 percent stake in Tech
Mahindra in a deal expected to raise about $183
million and see the British telecoms operator exit an Indian IT
services group it co-founded more than two decades ago.
    * Dell Inc is preparing to tap opportunities in the
healthcare sector in India, said Sid Nair, global head,
healthcare and life sciences at Dell Services. (Economic Times)
    * The government is set to give the domestic electronics
manufacturing sector a 100 billion rupees worth of incentives,
according a senior government official. (Business Standard)

    * Kingfisher Airlines said on Tuesday it was in
talks with Abu Dhabi's Etihad Airways and other investors about
taking a stake in the grounded and indebted Indian carrier.
    * India's civil aviation ministry will launch an airfare
monitoring unit next week, and has decided to ask domestic
carriers to reduce rates and increase passenger load factor,
said Civil Aviation Minister Ajit Singh. (Business Standard)
    * Jaguar Land Rover (JLR) signed a preliminary deal to build
a plant in Saudi Arabia, extending its expansion in fast-growing
markets. (Reuters) 
    * Maruti Suzuki is planning to set up a car
assembly plant in Sri Lanka with a local partner, according to
officials at the auto maker. (Financial Express)
    * Maruti Suzuki India Ltd chairman R.C. Bhargava
believes growth in the domestic passenger vehicle industry may
languish in the single digits for the next three years. (Mint)
    * Mahindra & Mahindra and premium car maker
Mercedes Benz on Tuesday announced price hikes with effect from
January 2013. (Economic Times)
    * India's government said it was prepared to launch an
inquiry into lobbying by Wal-Mart Stores Inc., buckling
under an opposition campaign to discredit a flagship economic
policy. (Reuters) 
    * Arvind Ltd will open stores for the $1.5-billion
Australian surfwear brand Billabong as the Indian
fashion retailer expands global alliances. (Times of India)
    * Sutherland Global Services will buy a stake in
healthcare-focused business process outsourcing firm Apollo
Health Street from Apollo Hospitals for 10 billion
rupees, said Sangitha Reddy, managing director of Apollo Health
Street. (Economic Times)
    * Fortis Healthcare Ltd will raise 20 billion
rupees within two quarters, which will help it decrease its
financial leverage substantially, said Vishal Bali, group chief
executive officer of Fortis. (Business Standard)
    * India has revoked a patent granted to an asthma drug made
by Schering Corp, later bought by U.S.-based Merck & Co,
citing lack of invention, after Indian drugmaker Cipla Ltd
 challenged an earlier decision. 
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.

 (Compiled by Manoj Rawal; Editing by Rafael Nam)

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