Indian stocks to watch-Jan 11

Gujarat State Fertilizers & Chemicals

11/01/2013 03:22

GLOBAL MARKETS ROUNDUP         
    * Nifty futures on the Singapore Exchange    rose 0.1 
percent. The MSCI-Asia Pacific index, excluding Japan 
   fell 0.2 percent.    Ÿ     
    * U.S. stocks rose on Thursday and the S&P 500    ended 
at a fresh five-year high as stronger-than-expected exports from 
China spurred optimism about global growth prospects. �        
           
    EVENTS TO WATCH 
    * November factory data (0530 GMT) 
    * RBI to release India forex reserves, bank loan data (1130 
GMT) 
 
    INDIAN STOCKS TO WATCH 
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NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
    TOP NEWS 
    * Infosys Ltd    said on Friday its October-December 
consolidated net profit was 23.69 billion rupees, above 
consensus forecasts of 21.01 billion rupees.    
 
    FINANCIAL/REGULATORY 
    * India's central bank raised concerns over states 
governments' debt repayment capacity from fiscal year 2017/18 
because of higher market borrowings and the recently announced 
bailout scheme for state-owned power companies. (Reuters) 
   
    * Finance Minister P. Chidambaram plans to meet investors in 
Asia and Europe this month in a drive to try and boost capital 
flows into Asia's third-largest economy, four sources with 
direct knowledge of the plan said. (Reuters)    
    * The 2013/14 budget is likely to have a package of measures 
to address concerns related to foreign taxation and transfer 
pricing, the Business Standard newspaper reported citing 
"officials in the know" (Business Standard) 
 
    
    * National Stock Exchange and Japan Exchange Group will seek 
to launch yen-denominated futures based on the Nifty index of 
Indian stocks, the bourse operators said on Thursday. (Reuters) 
   
 
    ENERGY/COMMODITIES 
    * Lenders to Suzlon Energy Ltd    are demanding the 
company raise equity of 50 billion rupees or sell its unit 
REpower     before any loan restructuring as wary banks do 
not want a repeat of the Kingfisher fiasco, two people familiar 
with the development said. (Economic Times) 
 
    * GAIL Ltd    plans to raise capacity at its Dabhol 
LNG terminal to 7 million tonnes in two years from 5 million 
tonnes now, its Chairman B.C. Tripathi said on Thursday. 
(Reuters)    
    * Gujarat State Fertilizers & Chemicals Ltd    will 
buy a stake of nearly 20 percent in Karnalyte for C$45 million 
($45.5 million), or C$8.15 per share. (Reuters)    
     
    INFRASTRUCTURE 
    * The ministry of road transport and highways and National 
Highways Authority of India are weighing various options, 
including initiating procedures to debar GMR Infrastructure Ltd 
   from upcoming road projects for few years, The 
Financial Express reported citing "sources in the 
know".(Financial Express) 
     
    AIRLINES 
    * Kingfisher Airlines Ltd's    promoter Vijay Mallya 
has reassured employees that the airline will fly by summer with 
a 6.5 billion rupees infusion from the UB Group, but also added 
that no investor has, as yet, signed on to invest more money in 
the airline. (Mint) 
 
    * Separately, the Service Tax Department has issued a notice 
to Kingfisher, "impounding" all its aircraft, unidentified 
department sources in Mumbai told Press Trust of India, 
according to a report carried in The Economic Times. (PTI in 
Economic Times) 
 
     
    TELECOMS 
    * The Department of Telecommunications has asked telecom 
majors Bharti Airtel Ltd     and Vodafone India to pay 
around 38 billion rupees as one-time spectrum fee this month, 
sources close to the development told Press Trust of India in a 
report carried by The Economic Times. (PTI in Economic Times) 
 
     
    RETAIL 
    * SEBI is not in favour of a put option in the agreement 
between United Spirits Ltd    and Diageo Plc   , as 
it is akin to a forward contract and a violation of Indian laws, 
a person with knowledge of the discussions told The Economic 
Times. (Economic Times) 
 
    * Future Ventures India Ltd    is in advanced talks 
to buy 25 percent stake in Tresmode, valuing the footwear 
retailer at 1.8 billion rupees, said two persons with direct 
knowledge of the transaction. (Economic Times) 
 
    * Talks between Actis Capital and foreign retail companies 
to sell the former's 70 per cent in retail firm Nilgiris Dairy 
Farm have failed over valuation issues and lack of clarity on 
whether states would allow foreign players in multi-brand 
retail, according to a banking source. (Business Standard) 
    Actis was in talks with Lawson Inc   , 7-Eleven and 
Tesco Plc     and was looking at a valuation of 8.2 
billion rupees for its stake in Nilgiris, the source was quoted 
as saying by the newspaper. 
 
     
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