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Indian stocks to watch-Dec 24
December 24, 2012 / 3:21 AM / in 5 years

Indian stocks to watch-Dec 24

    * Nifty futures on the Singapore Exchange rose 0.39
percent, while the MSCI-Asia Pacific index, excluding Japan 
, advanced 0.1 percent.   
    * Asian shares steadied in quiet pre-holiday trade after a
slump late last week, but markets have become more jittery about
the risk of the United States failing to avert a fiscal crisis. 
    * U.S. stocks finished lower on Friday after a Republican
plan to avoid the "fiscal cliff" failed to gain sufficient
support on Thursday night, draining hopes that a deal would be
reached before 2013. 
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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * Lanco Infratech has begun talks with JSW Energy
 and Adani Power to sell a power plant in
Karnataka, three people with direct knowledge of the development
said. (Economic Times)
    * The oil ministry has decided to allow Cairn India
  to further explore Rajasthan oil fields, government
officials said requesting anonymity. (Economic Times)
    * The government is likely to divest stake in Oil India
 next month, followed by NTPC in February,
achieve its 300 billion rupees disinvestment target, an unnamed
government official was quoted as saying by The Economic Times.
(Economic Times)
    * State-run firms Gujarat Mineral Development Corp Ltd
 and National Aluminium Co Ltd are expected
to begin construction of their 150-billion rupees aluminium
plant joint venture in Gujarat's Kutch in four months, according
to V S Gadhvi, managing director of GMDC. (Business Standard)
    * Ahead of Russian President Vladamir Putin's New Delhi
visit, Kremlin has rejected special tax concessions to ONGC's
 Siberia-focused firm Imperial Energy, sources privy to
the development said. (Economic Times)
    * India has raised the ceiling for foreign direct investment
(FDI)in asset reconstruction companies (ARCs) to 74 percent from
49 percent, according to a government statement late on Friday.
    * Finance minister P Chidambaram on Saturday indicated that
the public sector banks would require close to 1 trillion rupees
capital over the next five to 10 years. (Financial Express)
    * The government has sounded out stocks exchanges to explore
the possibility of giving investors greater flexibility in
bidding for shares sold as part of its divestment programme,
said a person familiar with the development. (Economic Times)
    * Vodafone has expressed concern over the recent
Cabinet decision on spectrum auction, saying compulsory
participation in the auctions is "coercive in nature, at an
exorbitant price and on unreasonable terms", according to a
letter to the telecom secretary seen by The Times of India.
(Times of India)
    * Two suicide car bombers attacked the offices of two mobile
phone operators on Saturday in Nigeria's northern city of Kano,
killing themselves but no civilians, police said. India's Bharti
Airtel and South Africa's MTN were the
targets. (Reuters) 
    * Suzuki Motor Corp may soon allow Maruti Suzuki
 to sell cars in overseas markets under the latter's
badge, said R.C. Bhargava, chairman of Maruti Suzuki. (Mint)
    Separately, Maruti Suzuki India on Saturday said it plans to
set up a second facility in Gujarat. (Times of India)
    * The Chandavarkar family, the promoters of drug maker FDC
, plan to sell their 67 percent stake in the company,
people close to the company said. (Economic Times)
    * Arms sales will be on the agenda when Russian President
Vladimir Putin visits India on Monday to court a country that
has traditionally been a top client. (Reuters) 
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.

 (Compiled by Manoj Rawal; Editing by)

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