Indian stocks to watch-Dec 24

Gujarat Mineral Development

24/12/2012 03:21

GLOBAL MARKETS ROUNDUP 
    * Nifty futures on the Singapore Exchange    rose 0.39 
percent, while the MSCI-Asia Pacific index, excluding Japan  
  , advanced 0.1 percent.       
    * Asian shares steadied in quiet pre-holiday trade after a 
slump late last week, but markets have become more jittery about 
the risk of the United States failing to avert a fiscal crisis.  
      
    * U.S. stocks finished lower on Friday after a Republican 
plan to avoid the "fiscal cliff" failed to gain sufficient 
support on Thursday night, draining hopes that a deal would be 
reached before 2013.     
     
    INDIAN STOCKS TO WATCH 
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NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
    ENERGY/COMMODITIES 
    * Lanco Infratech    has begun talks with JSW Energy 
   and Adani Power    to sell a power plant in 
Karnataka, three people with direct knowledge of the development 
said. (Economic Times) 
 
    * The oil ministry has decided to allow Cairn India 
    to further explore Rajasthan oil fields, government 
officials said requesting anonymity. (Economic Times) 
 
    * The government is likely to divest stake in Oil India 
   next month, followed by NTPC    in February, 
achieve its 300 billion rupees disinvestment target, an unnamed 
government official was quoted as saying by The Economic Times. 
(Economic Times) 
    * State-run firms Gujarat Mineral Development Corp Ltd 
   and National Aluminium Co Ltd    are expected 
to begin construction of their 150-billion rupees aluminium 
plant joint venture in Gujarat's Kutch in four months, according 
to V S Gadhvi, managing director of GMDC. (Business Standard) 
 
    * Ahead of Russian President Vladamir Putin's New Delhi 
visit, Kremlin has rejected special tax concessions to ONGC's 
   Siberia-focused firm Imperial Energy, sources privy to 
the development said. (Economic Times) 
 
     
    FINANCIAL/REGULATORY 
    * India has raised the ceiling for foreign direct investment 
(FDI)in asset reconstruction companies (ARCs) to 74 percent from 
49 percent, according to a government statement late on Friday. 
(Reuters)    
    * Finance minister P Chidambaram on Saturday indicated that 
the public sector banks would require close to 1 trillion rupees 
capital over the next five to 10 years. (Financial Express) 
 
    * The government has sounded out stocks exchanges to explore 
the possibility of giving investors greater flexibility in 
bidding for shares sold as part of its divestment programme, 
said a person familiar with the development. (Economic Times) 
 
    
    TELECOMS 
    * Vodafone    has expressed concern over the recent 
Cabinet decision on spectrum auction, saying compulsory 
participation in the auctions is "coercive in nature, at an 
exorbitant price and on unreasonable terms", according to a 
letter to the telecom secretary seen by The Times of India. 
(Times of India) 
 
    * Two suicide car bombers attacked the offices of two mobile 
phone operators on Saturday in Nigeria's northern city of Kano, 
killing themselves but no civilians, police said. India's Bharti 
Airtel    and South Africa's MTN    were the 
targets. (Reuters)    
     
    AUTOS 
    * Suzuki Motor Corp    may soon allow Maruti Suzuki 
   to sell cars in overseas markets under the latter's 
badge, said R.C. Bhargava, chairman of Maruti Suzuki. (Mint) 
 
    Separately, Maruti Suzuki India on Saturday said it plans to 
set up a second facility in Gujarat. (Times of India) 
 
     
    PHARMA 
    * The Chandavarkar family, the promoters of drug maker FDC 
   , plan to sell their 67 percent stake in the company, 
people close to the company said. (Economic Times) 
 
     
    DEFENCE 
    * Arms sales will be on the agenda when Russian President 
Vladimir Putin visits India on Monday to court a country that 
has traditionally been a top client. (Reuters)    
     
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
     
 
 (Compiled by Manoj Rawal; Editing by) 
 ((rafael.nam@thomsonreuters.com)(+91-22)(6180-7425)(Reuters 
Messaging: rafael.nam.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS INDIA STOCKS/PRE OPEN