December 18, 2012 / 3:22 AM / in 5 years

Indian stocks to watch-Dec 18

GLOBAL MARKETS ROUNDUP    
    * Nifty futures on the Singapore Exchange 0.06
percent higher. The MSCI-Asia Pacific index excluding Japan
 was 0.26 percent up.       
    * The S&P 500 ended at its highest level in almost two
months on Monday on rising hopes that negotiations over the
"fiscal cliff" were making progress and that a deal could be
reached in days.   
    * Asian shares crept higher on Tuesday, tracking the
overnight gains in U.S. stocks on optimism for progress in
resolving the U.S. budget crisis before the year-end deadline. 
    
        
    FACTORS TO WATCH    
    * RBI's monetary policy review at 0530GMT.
    * RBI deputy governor Subir Gokarn at events. (0800GMT,
1100GMT)
    * Trade Minister Anand Sharma, Chief Economic Adviser Rajan
at economics conclave. (0430GMT)
    
    
    INDIAN STOCKS TO WATCH
For additional press items double click 
    
    TOP NEWS
    * India's central bank is expected to keep interest rates
unchanged on Tuesday, according to a new Reuters poll, with
respondents split over whether it will cut the cash reserve
ratio (CRR) for banks. (Reuters) 
    * A battle over affirmative action for low castes threw the
Indian parliament into disarray on Monday, threatening to derail
the government's ambitious timetable for passing reforms this
week that are aimed at opening up Asia's third-largest economy.
(Reuters) 
    * The exit polls have spoken - all confirming the Narendra
Modi-led Bharatiya Janata Party (BJP) would see another victory
in Gujarat. And those are unanimous: The BJP will increase its
share of seats in the 182-member state Assembly. (Business
Standard)
link.reuters.com/red74t
    * Foreign secretary Ranjan Mathai on Monday said India was
spearheading an initiative to develop a currency swap agreement
among Saarc countries, which would help them protect their
currencies during exigencies. (Financial Express)
link.reuters.com/bed74t    
    * The RBI has told finance ministry that it would not be
able to monitor the end use of funds brought in to set up
foreign-funded stores, according to a person privy to the
development. (Economic Times)
link.reuters.com/fed74t
    * The government will soon announce incentives for exporters
to provide them a cushion in the wake of declining exports and
global slowdown, a senior official said on Monday. (PTI in
Economic Times)
link.reuters.com/ked74t
    
    ENERGY/COMMODITIES
    * The government is likely to take a decision on sugar
exports in January after assessing the final cane crop and the
estimated sugar output. (Economic Times)
link.reuters.com/ged74t
    * The government is considering schemes such as gold
deposits, gold-linked accounts and pension products to curb
demand for the precious metal, blaming its massive imports for
the high current account deficit. (Economic Times)
link.reuters.com/hed74t
    * The government and regulators are discussing fresh tax
benefits for investment in equities in an attempt to wean away
individuals from parking funds in gold. (Times of India)
link.reuters.com/med74t
    * ConocoPhillips is in talks with Oil and Natural
Gas Corporation to buy stake in more than one of its
ultra-deep-water blocks. (Business Standard)
link.reuters.com/ned74t
    
    FINANCIAL/REGULATORY
    *  Investments into Indian shares through the participatory
note (P-Note) route hit an eight-month high of 1.76 trillion
rupees in October. (Economic Times)     
link.reuters.com/jed74t
    * The government has approved the first tranche of 120
billion rupees fund infusion in state-owned banks, a moved aimed
at enhancing their capital base, a senior official said. (Press
Trust of India in Business Standard)

    IT
    * Tata Consultancy Services Ltd, India's largest
information technology services provider, told analysts the
company's third quarter would be a usual one, with no sudden
negative surprises. (Business Standard)
link.reuters.com/ted74t
           
    TELECOMS
    * The government on Monday moved the Supreme Court seeking a
review of its January judgment that struck down the income tax
department's demand for $2.2 billion from Vodafone over
the UK company's acquisition of Hutchison's stake in Hutch-Essar
in 2007. (Financial Express)
link.reuters.com/wad74t
       
    AIRLINES
    * Gulf carrier Etihad Airways, seeking to widen operations
in India and other Asian markets, is in the final stages of
talks to buy part of either Jet Airways or grounded
rival Kingfisher Airlines, an Indian government
official said on Monday. (Reuters) 
    * India's debt-laden and grounded Kingfisher Airlines
 said on Monday it will "restart in a phased manner,"
with own funding, and will not seek banks' support. (Reuters)
 
    * Kingfisher Airlines promoter Vijay Mallya will pump in
4.25 billion rupees into the grounded airline as the first step
to kick-start its operations, albeit in a limited way. ( Press
Trust of India in Business Standard)
link.reuters.com/ved74t
    * Exactly a decade after he launched India's first low-cost
carrier (LCC) Air Deccan and five years after he was forced to
sell it off, Captain G R Gopinath is all set to make a comeback
with a startup. (Economic Times)
link.reuters.com/zad74t
      
    INFRASTRUCTURE/POWER
    * The 32-km Phase-II of the Mumbai Metro project, bagged by
Reliance Infrastructure, faces termination in the
absence of substantial progress. (Business Standard)
link.reuters.com/wed74t
    * Reliance Power promoters, Reliance Infra,
Reliance Innoventures and AAA Project Ventures will sell 5.42
percent stake in the company through separate window in BSE.
(Reuters) 
   * The Reserve Bank of India on Monday allowed property
developers to borrow money overseas through external commercial
borrowing (ECB) for funding low-cost housing projects. (Reuters)
 
   * The government will this month finalize the bid documents
for all new power projects, including those capable of
generating 4,000 megawatts (MW), in which it will specify that
these be transferred to the electricity buyers at the end of the
25-year power purchase agreements (PPAs). (Mint) 
link.reuters.com/ped74t
    
     AUTOS
    * Auto giant Mahindra & Mahindra is in advanced
negotiations to buy out its American partner Navistar's 
stake in the 51:49 commercial vehicle joint venture Mahindra
Navistar Automotives Ltd (MNAL). According to sources, the
negotiations are almost complete and an announcement is expected
shortly. (Times of India)
link.reuters.com/xad74t
    * India's competition watchdog is investigating
anti-competitive practices by carmakers, the country's corporate
affairs minister Sachin Pilot said in a written reply in
parliament on Monday. (Reuters) 
    * Bracing for tough times ahead, Tata Motors,
India's largest automobile manufacturer in revenues, has
embarked on a major belt tightening exercise. The company is
making efforts to tide over a market dip in demand for its key
commercial vehicles business. (Economic Times)
link.reuters.com/ded74t

    INDUSTRIAL
    * India's Godrej Industries said on Monday
Singapore's Temasek will buy 20 percent stake in the
former's agriculture business unit for 5.72 billion rupees
($104.86 million) to fund the unit's expansion plans. (Reuters)
 
    
    HEALTH CARE
    * Bangalore-based biotechnology firm Biocon Ltd 
has given CCM Pharmaceuticals, a subsidiary of Chemical Company
of Malaysia, exclusive licence and distribution rights for its
insulin products in Malaysia and Brunei. (Economic Times)
link.reuters.com/ced74t
     * Caraco Pharmaceutical Laboratories, the US subsidiary of
Sun Pharmaceuticals, has reached an agreement with
Takeda Pharmaceuticals USA Inc to buy the generic business of
URL Pharma. Financial details were not disclosed. (Business
Standard)
link.reuters.com/xed74t
      
   NOTE: Reuters has not verified third-party stories and does
not vouch for their accuracy.
 

 (Compiled by Manoj Rawal; Editing by Subhadip Sircar)

Our Standards:The Thomson Reuters Trust Principles.
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