December 17, 2012 / 3:27 AM / 5 years ago

Indian stocks to watch-Dec 17

    * Nifty futures on the Singapore Exchange fell 0.27
percent. The MSCI-Asia Pacific index excluding Japan
 was down 0.3 percent.       
    * U.S. stocks fell on Friday as another slide in Apple
 took a toll and investors unloaded some shares because
of the uncertainty surrounding the "fiscal cliff" negotiations.
    * The Liberal Democratic Party of Japan's electoral triumph
propelled the yen to a 20-month low against the dollar
and saw the Nikkei stock average touch a 8-1/2-month
high on expectations of much better export earnings. 
    * Raghuram Rajan, chief economic adviser at India's ministry
of finance, to address conference on the economy of South Indian
state of Tamil Nadu. (1030 IST/0500 GMT) 
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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * India will speed up the sale of stakes in state companies
to revive the stock market and will push ahead with reforms
aimed at spurring an investment recovery in the flagging
economy, Prime Minister Manmohan Singh said on Saturday.
    * The oil ministry may raise prices of diesel by 1 rupee a
litre or that of cooking gas by 100 rupees to neutralise the
impact of its plan to increase the supply of subsidised
cylinders to households, said government officials who requested
anonymity. (Economic Times)
    * Oil companies have been told by the finance ministry to
coordinate with the Reserve Bank of India before stepping out to
buy dollars, according to a person who attended the meetings.
(Economic Times)
    * A government-appointed panel has recommended the end of
the controversial system in which oil firms recover their costs
from sale of oil and gas in all future contracts and suggested a
transparent structure for sharing the output between the
government and the contractor. (Economic Times)
    * Reliance Industries and its partner BP 
have shut a seventh well in the D6 block off the country's east
coast due to sand and water ingress, bringing down the number of
producing wells to 11, a source with direct knowledge of the
matter said. (Reuters) 
    * Coal India's output dipped about 2 percent in
November from a year ago due to cyclone Neelam and holidays on
account of festivals, according to its chairman. (Economic
    * The government plans to ask state power utilities to sell
surplus land or carbon credits to raise funds and be eligible
for the 1.9 trillion rupees debt restructuring package, an
unidentified power ministry official was quoted as saying by The
Economic Times. (Economic Times)

    * Life Insurance Corp is selling shares this year, booking a
110 billion rupees profit, to bid for shares in upcoming
government sales of companies, said two persons familiar with
the thinking. (Economic Times)
    * Infosys said on Friday it settled a lawsuit
filed by former employee Satya Dev Tripuraneni. (Reuters)
    * Non-traditional markets such as Japan, China and Korea
will drive HCL Technologies' next wave of growth, its
chairman Shiv Nadar said. (Economic Times)
    * The department of telecom is considering a demand by
India's top three mobile phone companies -- Bharti Airtel
, Vodafone and Idea Cellular -- to allow GSM
operators to bid for unsold CDMA spectrum in the 800 MHz band
which saw no takers in the recent auction. (Economic Times)
    * Bharti Infratel's share sale to raise up to $830 million
was subscribed 1.3 times, a weaker-than-hoped for response to
the country's biggest initial public offering in two years.
    * Etihad Airways will decide this week whether to invest in
Jet Airways or Kingfisher Airlines, according
two persons familiar with development who requested anonymity.
    * Workers at the Gurgaon plant of Hero MotoCorp 
are demanding a three-to-four times increase in their wages,
unidentified sources were quoted as telling ET Now. (Economic
    * Renault's move into low-cost cars plans to
devise a cheap vehicle programme for India that can compete with
such champions of frugality as Maruti Suzuki and
Hyundai. (Reuters) 
    * French warship maker DCNS will buy close to 15 percent
stake in Nikhil Gandhi-promoted shipbuilder Pipavav Defence &
Offshore Engineering for about 13.5 billion rupees,
according to people close to the development. (Economic Times)
    * Fortis Healthcare will sell its majority stake
in Dental Corporation Holding, a dental care company in
Australia and New Zealand, for around 15.55 billion rupees
($285.06 million) to UK's Bupa Ltd and will use the sale
proceeds to pare debt, according to a statement. (Economic

NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
($1 = 54.5500 Indian rupees)

 (Compiled by Manoj Rawal; Editing by Rafael Nam)

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