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Indian stocks to watch-Jan 31
January 31, 2013 / 3:12 AM / 5 years ago

Indian stocks to watch-Jan 31

    * Nifty futures on the Singapore Exchange was flat.
The MSCI-Asia Pacific index, excluding Japan was
fell 0.5 percent.             
    * Asian shares pulled back on Thursday from recent gains but
sentiment was underpinned by optimism about global growth after
the Federal Reserve kept its stimulus policy and by signs of
stabilisation in the euro zone.       
    * U.S. stocks fell on Wednesday after the Federal Reserve
said in its latest statement that economic growth had stalled
but indicated the pullback was likely temporary.        
    FACTORS TO WATCH        
    * ICICI Bank Ltd, Bharti Infratel Ltd 
October-December earnings
    * April-December fiscal deficit

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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * India's central bank will base rate cut decisions on the
current account position in addition to inflation, governor
Duvvuri Subbarao said on Wednesday. (Reuters) 
    * State Bank of India has cut its key lending rate,
or base rate, by 5 basis points, R. Venkatachalam, deputy
managing director at the bank, told Reuters on Wednesday.
    * HDFC Bank Ltd has decided to slash auto loan
rates by up to 0.5 percent. (Times of India)
    * India's market regulator has barred Angel Broking from
taking on new customers for two weeks and set penalties on three
other small brokerages for artificially boosting trading volumes
in shares of a software developer more than a decade ago.
    * India's government does not currently plan additional
taxes or curbs on imports of gold as it waits to see the impact
of recent tax hikes, a top finance ministry official told
Reuters on Wednesday. (Reuters) 
    * The government is set to significantly cut the subsidy it
offers on non-urea fertilizers for the second time in 12 months,
according to two government officials with direct knowledge of
the matter. (Mint)
    * The Delhi High Court has set aside an order of the Chief
Information Commission directing stock market regulator SEBI to
share details of a 2007 probe into charges of alleged insider
trading involving shares of Reliance Petrochemicals, which later
merged with Reliance Industries Ltd. (Economic Times)
    * Power Finance Corp Ltd's October-December net
profit rose 0.8 percent to 11.17 billion rupees from a year
    * The Chhattisgarh government is considering scrapping
Indiabulls Power Ltd's 1,320 megawatt (Mw) power
project at Bhaiyathan, a senior state government official told
Business Standard on condition of anonymity. (Business Standard)
    * India is likely to produce around 24 million tonnes of
sugar in the year beginning Oct. 1, Food Minister K.V. Thomas
said on Wednesday. (Reuters) 
    * Burger King has held fresh discussions with
Everstone Capital to revive its India entry plans, The Times of
India reported, citing people directly briefed on the matter,
(Times of India)
    * Vodafone India said it would challenge the upcoming
spectrum auctions, and said the sale process was illegal and
discriminatory, The Economic Times reported, citing a letter
sent by the company to India telecom secretary R
Chandrashekhar.(Economic Times)
    * Indian income tax officials have sent an interim report on
the tax evasion charge against the Indian unit of Nokia
 to the department's headquarters in New Delhi on
Wednesday, The Hindu reported citing an unidentified senior IT
official. (The Hindu)
    * Hyundai Motor Co will be launching an all-new
compact car in India, The Economic Times reported, citing four
people close to the development. (Economic Times) 

    * Jet Airways India Ltd has given a wage hike of up
to 18,000 rupees to its around 7,500 rupees ground staff,
sources said. (Economic Times)

NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.

 (Compiled by Manoj Rawal)

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