February 6, 2013 / 3:14 AM / 5 years ago

Indian stocks to watch-Feb 6

    * Nifty futures on the Singapore Exchange rose 0.2
percent. The MSCI-Asia Pacific index, excluding Japan
 rose 0.3 percent.                
    * Asian shares recovered on Wednesday as solid euro zone
data calmed nerves jarred by potential political turmoil, while
the prospect of a dovish new governor for the Bank of Japan
weakened the yen.          
    * U.S. stocks climbed on Tuesday, recovering a day after the
market's biggest sell-off since November, as
stronger-than-expected earnings brightened the profit picture.
    FACTORS TO WATCH           
    * Earnings: Cipla Ltd, Tech Mahindra Ltd 
    * Day 1 of RBI's central board meeting in the eastern city
of Guwahati. 
    * India money supply data (0930GMT) 
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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * The Indian tax authorities have sent sternly-worded
letters asking several companies that paid lower service tax or
excise duty than last year to explain the decline, The Economic
Times reported citing a review of the letters. 
    * Kotak Mahindra Bank Ltd said on Tuesday it
acquired the business loans portfolio of the Indian arm of
Barclays Plc. (Reuters) 
    * Housing Development Finance Corporation (HDFC),
India's biggest housing finance company, will reduce its prime
lending rate by 10 basis points starting Feb. 6, it said on
Tuesday. (Reuters) 
    * United Bank of India's October-December net
profit fell 81.3 percent to 422 million rupees from a year

    * The Indian government expects to raise around 120 billion
rupees ($2.25 billion) by selling a 9.5 percent stake in state
power utility NTPC Ltd in a share auction on Thursday,
Disinvestment Secretary Ravi Mathur said. (Reuters)
    * The food ministry has decided to seek Cabinet approval to
lift controls on sugar, a senior food ministry official said.
(Economic Times)
    * In a move that will increase electricity tariffs by up to
13 paise a unit, the cabinet committee on economic affairs
(CCEA) on Tuesday approved the pooling of imported and domestic
coal prices. (Mint)
    * State electricity distribution companies have decided to
sign long term power supply contracts in the next six months
ending a two-year long dry spell for power generators, an
official statement said. (Economic Times)
    * Dainik Bhaskar Group's power generation arm, Diligent
Power, is in talks with leading private equity players to raise
around 8 billion rupees to fund its thermal power projects, said
three persons with direct knowledge of the development.
(Economic Times)

    * Tata Motors Ltd is working on a new premium
small car that will compete with models of rivals Maruti Suzuki
India Ltd and Ford Motor Co, several people with
knowledge of the development said. (Economic Times)
    * Hennes & Mauritz (H&M) has asked leading mall developers
to block space for its initial stores in India, as the world's
second largest fashion retailer hopes to open a local office in
the next three months,  said people directly familiar with the
matter. (Times of India)
    * Thomas Cook (India) Ltd on Tuesday said it will
buy a 74 percent stake in unlisted Bangalore-based human
resources company Ikya Human Capital Solutions Pvt. Ltd for 2.56
billion rupees. (Mint)
    * United Breweries Holdings Ltd's October-December
net profit surged more than twelve-fold to 389.2 million rupees
from 30.7 million rupees a year ago. (Reuters) 

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

 (Compiled by Manoj Rawal)
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