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Indian stocks to watch-Feb 7
February 7, 2013 / 3:12 AM / 5 years ago

Indian stocks to watch-Feb 7

    * Nifty futures on the Singapore Exchange rose 0.2 
percent. The MSCI-Asia Pacific index, excluding Japan 
 rose 0.3 percent.        
    * Asian shares edged lower ahead of a European Central Bank
policy decision and remarks from ECB President Mario Draghi on
prospects for the euro zone economy. 
    * U.S. stocks ended mostly flat on Wednesday, taking another
pause in the recent rally that has driven the S&P 500 to
five-year highs, as transportation and technology shares lost
    * Advance 2012/13 GDP data (0530 GMT)
    * Last day of two-day Reserve Bank of India board meeting
    * The Indian government to sell about $2.14 billion worth of
shares in NTPC Ltd. The floor price has been set at
145 rupees, or a 4.5 percent discount to its Wednesday's close.
    * ACC Ltd, Ambuja Cements Ltd quarterly
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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * Indian tax authorities are claiming the Indian arm of
Vodafone Group PLC under-priced shares issued to a
Mauritius-based group company in order to pay lower taxes, The
Economic Times reported citing two persons familiar with the
development as having told the newspaper's TV station ET NOW. 
(Economic Times)
    * India's finance minister warned on Wednesday that cuts in
the security budget could affect the country's defence
preparedness and said he will spend more money on security when
the economy recovers. (Reuters) 
    * The finance ministry is looking at taxing transactions on
commodity exchanges to provide better regulation and monitoring
of the market, said finance ministry officials. (Business
    * The Supreme Court said Securities and Exchange Board of
India was free to seize Sahara Group's assets and freeze its
bank accounts. (Economic Times)
    * Godrej Industries Ltd's October-December net
profit more than doubled to 1.79 billion rupees from 847.3
million rupees a year earlier. (Reuters) 
    * JSW Steel Ltd and Jindal Power and Steel have
secured a key green clearance to mine iron ore and manganese in
the Saranda Forests located in a Naxal-affected area of
Jharkhand. (Economic Times)
    * The United States on Wednesday filed a challenge with the
World Trade Organization over elements of India's national solar
program, which it said discriminates against foreign solar
products in violation of a core global trade rule. (Reuters)
    * The home ministry has barred Adani Ports and Special
Economic Zone Ltd, Gammon India Ltd, Lanco
Infratech Ltd, Punj Lloyd Ltd and IVRCL
 from participating in three domestic port projects due
to security issues, a senior official in the shipping ministry
said. (Economic Times) 

    * India could be "shut out" of the market for aircraft
finance if carriers such as troubled Kingfisher Airlines Ltd
 fail to return planes they cannot pay for, a senior
banker told Reuters on Wednesday. (Reuters) 
    * Tech Mahindra Ltd posted flat earnings for its
third fiscal quarter, falling short of expectations, hurt by a
one-off payment at unit Satyam Computer Services Ltd.
    * Cipla Ltd reported a 25.5 percent rise in
quarterly profit on robust sales but slightly missed street
estimates as taxes surged. (Reuters) 
    * Private equity fund Fidelity India Capital Advisor will
purchase around 15 percent stake in home furnisher and decorator
Kurlon for 1.5-2 billion rupees, The Economic Times reported,
citing two investment bankers with direct knowledge of the
development. (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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