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ESSARPORTS - Essar Ports News Story

₹129.3 0.0  0.0%

Last Trade - 19/11/15

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 3002

Indian stocks to watch-Nov 21

Wed 21st November, 2012 3:25am
    * Nifty futures on the Singapore Exchange    rose 0.15 
percent. The MSCI-Asia Pacific index excluding Japan   
   was up 0.01 percent.                      
    * Wall Street halted its two-day rally on Tuesday, after 
Federal Reserve Chairman Ben Bernanke said the central bank 
lacks tools to cushion the U.S. economy from the impact of the 
"fiscal cliff."        
    * Asian shares steadied on Wednesday, after a two days of 
gains, as investors refocused on the risk of a U.S. fiscal 
crisis following Bernanke's remarks that the budget impasse was 
already damaging growth.           
    * The Reserve Bank of India's Deputy Governor Subir Gokarn 
will address college students in Mumbai on 'The Current Economic 
Scenario in India' in the morning. In the evening, Gokarn will 
preside over the Exim Bank Commencement Day Annual Lecture on 
'Developments in the World Trading System: India's Options'.  
    * The Reserve Bank of India's Deputy Governor Keshab Chandra 
Chakrabarty is scheduled to give a keynote address at ASSOCHAM's 
8th Annual Banking Summit in New Delhi. 
For additional press items double click    
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
    * India's government aims to pass bills opening up the 
insurance and pension sectors to foreign investors in 
parliament's  forthcoming session, a minister said on Tuesday, 
the next step in a reform programme seen as key to reviving 
economic growth. (Reuters)    
    * India received bids worth 150.69 billion rupees ($2.74 
billion) in unused foreign debt limits for government and 
corporate bonds, more than the 106.16 billion rupees on offer, 
two market sources said on Tuesday. (Reuters) [ID: nL4N0902RG] 
    * Private equity firm Blackstone    has made an offer to 
to buy prime office and retail real estate blocks from Vijay 
Mallya's investment holding company UB Holdings, said two people 
familiar with the developments. (Economic Times) 
    * Canadian Securities Administrators, the securities market 
regulator of Canada, has barred Indian asset management 
companies from selling investment products to local investors, 
dealing a blow to these fund houses. (Economic Times) 
    * India's central bank has extended the relaxation of the 
period of realization and repatriation to the country of the 
full value of goods or software exported by six months. The 
relaxation will now be effective till March 31, 2013, the 
Reserve Bank of India said in a release. (Reuters) 
    * Reliance Industries    and the oil ministry have 
narrowed their differences over auditing of the controversial 
KG-D6 block and pricing of natural gas, raising hopes of quicker 
approvals and development of more fields in the gas-rich region, 
government and industry sources said. (Economic Times) 
    * Jindal Power & Steel    has started producing coal 
at its mine in Mozambique this month, with first exports 
expected by January next year, the company's country head for 
Mozambique said at an industry conference on Tuesday. (Reuters) 
    * The cabinet committee on economic affairs will on Thursday 
consider a proposal to sell A 9.5 percent stake in NTPC 
  . It will also consider a proposal to allow state miner 
NMDC    to acquire 50 percent stake in Legacy Iron Ore 
  , a listed Australian entity. (Economic Times) 
    * Oil & Natural Gas Corp    is planning to sell 
dollar bonds to fund the $1 billion acquisition of a stake in 
oilfields in Azerbaijan, Bloomberg reported on Wednesday. 
    * Rahul Dhir, the former CEO of Cairn India   , is 
teaming up with Warburg Pincus to set up an international oil 
and gas exploration and production company focused on promising 
assets in sub-Saharan Africa, a person close to the transaction 
said. (Economic Times) 
    * Bharat Petroleum Corp Ltd    and Oil and Natural 
Gas Corp Ltd have put a plan to jointly develop a terminal in 
Mangalore on hold, senior executives in both companies said. 
(Business Standard) 
    * The Essar group's Ruias family is working on a plan to 
lower its stakes in Essar Shipping    and Essar Ports 
  , said a source close to the developments.  
    A group spokesperson confirmed the stake sale plan in the 
Indian companies. (Business Standard) 
    * Maruti Suzuki     exported 8,300 units of the M800, 
an increase of 57 per cent compared to the 5,300-odd units sold 
in the corresponding period last year, said Shashank Srivastava, 
executive director of international business development at the 
auto maker. (Business Standard) 
    * Media baron Kalanithi Maran and his wife Kavery Kalanithi 
have resigned from the board of directors of Kal Airways, the 
holding company of SpiceJet   , according to a 
resignation letter reviewed by The Financial Express newspaper 
(Financial Express) 
    * Domestic passenger traffic fell 15.7 per cent in October, 
while government-owned Air India    strengthened its 
market share to 20.8 per cent. (Business Standard) 
    * Russia's Sistema Shyam is in preliminary discussion with 
Aircel to pick up an equity stake, Vsevolod Rozanov, president 
and CEO said. 
    "We have had preliminary discussions, which also include 
them apart from others. But we will not take any decision unless 
we are assured our investment in the country is protected," 
Rozanov was quoted as saying by Business Standard. (Business 
    * Tata Teleservices Ltd    has begun winding up 
operations in the Jammu and Kashmir, north-east and Assam 
telecom areas, after deciding against participating in the 
auction for radio spectrum in the 800Mhz band, according to an 
official in department of telecommunications. (Mint) 
    * IKEA    is poised to become the first major foreign 
company to open wholly owned stores in India after it received a 
crucial government clearance to invest 105 billion rupees ($1.9 
billion). (Economic Times) 
    * Diageo Plc    will launch a mandatory share tender 
offer to buy up to 26 percent additional stake in India's United 
Spirits Ltd    from public shareholders on Jan. 7, the 
manager to the offer said in a notice to the Bombay Stock 
Exchange. (Reuters)    
    * The National Pharmaceutical Pricing Authority has imposed 
a blanket ceiling on the prices of insulin, irrespective of the 
brand. (Business Standard) 
    * Sam Balsara, the owner of Madison Media, is negotiating 
with Japan's Dentsu    and as well as U.K.-based WPP 
   to sell the Indian domestic advertisement agency, 
according to sources close to Balsara. (Economic Times) 
    * The realty arm of Bharti Group is in negotiations with DB 
Realty to buy a 49 percent stake in a special purpose vehicle 
that is developing a plot located in a hospitality district 
being developed near the Delhi International Airport, according 
to people familiar with the transaction. (Economic Times) 
    * Holiday Inn Express on Tuesday launched its first property 
in the country and the only second in South East Asia at 
Ahmedabad. (Business Standard) 
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
      OTHER FACTORS TO WATCH                                     
* Indian debt/FX factors to watch                         
* Yen falls broadly, euro pins hope on deal for Greece       
* Oil drops as Gaza truce seen; losses pared on API data      
* Foreign institutional investor flows               
* For closing rates of Indian ADRs                          
 (Compiled by Manoj Rawal; Editing by Rafael Nam) 
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