Indian stocks to watch-Jan 31

RattanIndia Power

31/01/2013 03:11

GLOBAL MARKETS ROUNDUP          
    * Nifty futures on the Singapore Exchange    was flat. 
The MSCI-Asia Pacific index, excluding Japan    was 
fell 0.5 percent.                 
    * Asian shares pulled back on Thursday from recent gains but 
sentiment was underpinned by optimism about global growth after 
the Federal Reserve kept its stimulus policy and by signs of 
stabilisation in the euro zone.           
    * U.S. stocks fell on Wednesday after the Federal Reserve 
said in its latest statement that economic growth had stalled 
but indicated the pullback was likely temporary.            
              
    FACTORS TO WATCH         
    * ICICI Bank Ltd   , Bharti Infratel Ltd    
October-December earnings 
    * April-December fiscal deficit 
 
    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. 
     
    FINANCIAL/REGULATORY 
    * India's central bank will base rate cut decisions on the 
current account position in addition to inflation, governor 
Duvvuri Subbarao said on Wednesday. (Reuters)    
    * State Bank of India    has cut its key lending rate, 
or base rate, by 5 basis points, R. Venkatachalam, deputy 
managing director at the bank, told Reuters on Wednesday. 
(Reuters)    
    * HDFC Bank Ltd    has decided to slash auto loan 
rates by up to 0.5 percent. (Times of India) 
 
    * India's market regulator has barred Angel Broking from 
taking on new customers for two weeks and set penalties on three 
other small brokerages for artificially boosting trading volumes 
in shares of a software developer more than a decade ago. 
   
    
    ENERGY/COMMODITIES 
    * India's government does not currently plan additional 
taxes or curbs on imports of gold as it waits to see the impact 
of recent tax hikes, a top finance ministry official told 
Reuters on Wednesday. (Reuters)    
    * The government is set to significantly cut the subsidy it 
offers on non-urea fertilizers for the second time in 12 months, 
according to two government officials with direct knowledge of 
the matter. (Mint) 
 
    * The Delhi High Court has set aside an order of the Chief 
Information Commission directing stock market regulator SEBI to 
share details of a 2007 probe into charges of alleged insider 
trading involving shares of Reliance Petrochemicals, which later 
merged with Reliance Industries Ltd   . (Economic Times) 
 
    * Power Finance Corp Ltd's    October-December net 
profit rose 0.8 percent to 11.17 billion rupees from a year 
ago.(Reuters)    
    * The Chhattisgarh government is considering scrapping 
Indiabulls Power Ltd's    1,320 megawatt (Mw) power 
project at Bhaiyathan, a senior state government official told 
Business Standard on condition of anonymity. (Business Standard) 
 
    * India is likely to produce around 24 million tonnes of 
sugar in the year beginning Oct. 1, Food Minister K.V. Thomas 
said on Wednesday. (Reuters)    
     
    RETAIL 
    * Burger King    has held fresh discussions with 
Everstone Capital to revive its India entry plans, The Times of 
India reported, citing people directly briefed on the matter, 
(Times of India) 
 
     
    TELECOMS 
    * Vodafone India said it would challenge the upcoming 
spectrum auctions, and said the sale process was illegal and 
discriminatory, The Economic Times reported, citing a letter 
sent by the company to India telecom secretary R 
Chandrashekhar.(Economic Times) 
 
    * Indian income tax officials have sent an interim report on 
the tax evasion charge against the Indian unit of Nokia 
   to the department's headquarters in New Delhi on 
Wednesday, The Hindu reported citing an unidentified senior IT 
official. (The Hindu) 
 
     
    AUTOS 
    * Hyundai Motor Co    will be launching an all-new 
compact car in India, The Economic Times reported, citing four 
people close to the development. (Economic Times) 
  
 
    AIRLINES 
    * Jet Airways India Ltd    has given a wage hike of up 
to 18,000 rupees to its around 7,500 rupees ground staff, 
sources said. (Economic Times) 
 
 
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
 
 (Compiled by Manoj Rawal) 
 ((manoj.rawal@thomsonreuters.com)(+91-22 6180-7219)(Reuters 
Messaging: manoj.rawal.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS INDIA STOCKS/PRE OPEN