Indian stocks to watch-Dec 13

Gitanjali Gems

13/12/2012 03:12

GLOBAL MARKETS ROUNDUP    
    * Nifty futures on the Singapore Exchange    rose 0.19 
percent higher. The MSCI-Asia Pacific index excluding Japan 
   was also up 0.2 percent.          
    * U.S. stocks ended nearly flat on Wednesday, giving up most 
of the day's gains after Fed Chairman Ben Bernanke reiterated 
that monetary policy won't be enough to offset damage from the 
"fiscal cliff."      
    * Asian shares extended gains for a seventh day on Thursday, 
after the U.S. Federal Reserve took new stimulus steps to 
bolster the economy.       
        
    FACTORS TO WATCH    
    * Gujarat state goes to the polls.  
    * Indian Prime Minister Manmohan Singh attends a telecoms 
event.  
    * Indian cabinet to discuss airwave auction reserve price    
    * India chief economic adviser Rajan to address news 
briefing. (0630GMT)  
     
    INDIAN STOCKS TO WATCH 
For additional press items double click    
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
    TOP NEWS 
    * The U.S. Federal Reserve, announcing a new round of 
monetary stimulus, took the unprecedented step on Wednesday of 
indicating  interest rates would remain near zero until 
unemployment falls to at least 6.5 percent.    
 
    ENERGY/COMMODITIES 
    * India raised $1.1 billion selling a stake in miner NMDC 
Ltd    in a fillip for its efforts to rein in a widening 
fiscal deficit through sales of state assets. (Reuters) 
   
    * ONGC    is set to undertake exploratory drilling 
work in three offshore oil and gas blocks in Krishna-Godavari 
basin soon, according to sources close to the development. 
(Press Trust of India in Economic Times) 
 
    * DP World    is set to exit its container handling 
terminal at Mundra Port, India's largest private port, according 
to sources close to the development. (Financial Express) 
 
    * Holcim    has decided to back off from its earlier 
plan to charge royalties for technology transfer from its Indian 
subsidiaries, ACC    and Ambuja Cements   , at a 
higher rate, according to a source close to the development. 
(Business Standard) 
 
    * GMR Infrastructure    is planning to seek 
compensation of over $800 million from the government of Mali  
for being forced to hand over operations at the Male airport, 
said the CFO of GMR Airports Sidharath Kapur. (Economic Times) 
 
    * The Bombay High Court has asked Vedanta Aluminum to 
deposit a security amount of 1.87 billion rupees with the court, 
till the arbitration proceedings over a plea filed by Chinese 
Shenzen Shandong Nuclear Power Construction Company power reach 
a definitive conclusion. (Economic Times) 
 
    * The Maharashtra state government is considering diluting 
its stake in its generation and transmission companies, 
Maharashtra State Power Generation Co and Maharashtra State 
Electricity Transmission Co , through public offerings.  
    State energy minister Rajendra Tope confirmed the 
government's move. -+(Business Standard) 
 
    * Adani Gas, a wholly owned subsidiary of Adani Enterprises 
Ltd   , will soon buy a 20 per cent stake in Green Gas, a 
joint venture between Indian Oil Corp    and GAIL India 
  , according to executives in both companies. 
    Adani will buy the equity from the Aditya Vikram Birla Group 
and financial institutions IDFC    and UTI, which 
together hold 50 per cent stake in Green Gas. (Business 
Standard) 
 
     
    FINANCIAL 
    * Srei Infrastructure Finance    has obtained SEBI's 
approval to launch a $1 billion (54.3 billion rupees) 
infrastructure debt fund next January. (Economic Times) 
 
 
    TELECOMS     
    * India's mobile phone subscriber base declined by a net 
2.39 million in October to 904.23 million, the fourth straight 
monthly fall, due to a slowdown in gross additions and as 
carriers continued to disconnect inactive users. (Reuters) 
   
     
    PHARMA 
    * Pfizer    has approached the Delhi High Court for a 
stay on Cipla    , to prevent it from selling a 
generically-similar version of sunitinib, a liver and kidney 
cancer drug, in the local market. (Business Line) 
 
     
    RETAIL 
    * Gitanjali Group has acquired two well known Indian 
jewellery brands, Nirvana and Viola through its subsidiary 
Spectrum Jewellery Ltd. (Economic Times) 
 
 
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
     
 
 (Compiled by Dipika Lalwani; Editing by) 
 ((rafael.nam@thomsonreuters.com)(+91-22)(6180-7425)(Reuters 
Messaging: rafael.nam.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS INDIA STOCKS/PRE OPEN