February 20, 2013 / 3:22 AM / 5 years ago

Indian stocks to watch-Feb 20

    * Nifty futures on the Singapore Exchange rose 0.21 
percent. The MSCI-Asia Pacific index, excluding Japan  
 rose 0.7 percent.          
    * Asian shares edged higher on Wednesday, buoyed by rising
global equities overnight on an improving global economic
outlook, while the yen resumed its decline.  
    * U.S. stocks rose on Tuesday as this year's ongoing surge
in merger activity suggested investors were still finding value
in the market even as indexes closed in on all-time highs. 
For additional press items double click 
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    * Finance minister P. Chidambaram may stick to the initial
budget estimates of fiscal deficit at 5.1 per cent for 2012/14
from the revised target of 5.3 percent, a top official involved
with the exercise told Financial Chronicle without wanting to be
named. (Financial Chronicle)
    * Data analytics company Mu Sigma has raised money from a
unit of MasterCard Inc, The Economic Times reported
citing founder Dhiraj Rajaram, in a deal that values it at more
than $1 billion (54 billion rupees). (Economic Times)
    * The government is considering capping its subsidy on
diesel at 6 rupees per litre in 2013-14 to insulate itself from
volatility in global crude oil prices, said a government
official privy to the development. (Financial Express)
    * Reliance Industries Ltd and BP plan joint
investment of more than $5 billion over the next three to five
years to boost declining output at a key natural gas field off
India's east coast. (Reuters) 
    * The Children's Investment Fund said Coal India Ltd
 directors are in breach of fiduciary duties by
hoarding an "absurd" amount of cash. (Reuters) 
    * Binani Industries Ltd is in talks with potential
financial investors and state-owned funds in the Middle East to
sell up to 40 percent stake in its subsidiary Binani Cement as
it seeks to raise capital to cut debt and expand cement
capacities, said two persons familiar with the transaction.
(Economic Times)
    * Lanco Infratech Ltd has reached out to its
Malaysian partner, Genting, to sell stakes in three
of the Indian power generator's power plants, Business Standard
reported, citing an official involved in the process. (Business
    * Tata Motors Ltd has halved production at its
Jamshedpur plant and is reviewing its expansion plans as slowing
economic growth has crimped demand for its medium and heavy
commercial vehicles, saidRavi Pisharody, executive director of
the commercial vehicles business unit. (Mint)
    * Budget fashion chain Hennes & Mauritz is applying
to open stores in India, joining a rush of international
retailers looking to expand in Asia's third-biggest economy on
the back of government liberalisation measures. (Reuters)
    * Chennai-based consumer goods firm CavinKare is in talks
with private equity firms Everstone Capital and ChrysCapital to
raise up to 3.5 billion rupees by selling a minority stake in
the company, The Economic Times reported, citing two people with
direct knowledge of the development. (Economic Times)
    * Future Group founder Kishore Biyani has emerged as the
surprise front runner to snap up homegrown denim brand Spykar,
after Avigo Capital, which has majority stake, put it on the
block last year, said people familiar with the matter. (Times of
    * Proxy voting advisory firm InGovern has recommended the
shareholders of Pantaloon Retail India Ltd to vote
against the resolution to split Future Ventures India Ltd
 and its subsidiaries into Future Lifestyle Fashion.
(Business Standard)
    * Property fund IL&FS Milestone Realty Advisors is in talks
with global funds Blackstone Group, Morgan Stanley
, and GIC to sell its entire stake in a Mumbai commercial
project for about 10 billion rupees, The Economic Times reported
citing two persons familiar with the development. (Economic

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

 (Compiled by Manoj Rawal)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below