Indian stocks to watch-Feb 26

Unitech

26/02/2013 03:08

GLOBAL MARKETS ROUNDUP   
    * Nifty futures on the Singapore Exchange    fell 0.3 
percent. The MSCI-Asia Pacific index, excluding Japan   
   fell 0.5 percent.         
    * Asian shares fell on Tuesday, taking their lead from 
overnight plunges in global equities while currency markets 
remain volatile as no party has won a Senate majority in Italy's 
elections.      
    * U.S. stocks on Monday suffered their biggest drop since 
November after a strong showing in Italian elections by groups 
opposed to the country's economic reforms triggered worry that 
Europe's debt problems could once again destabilize the global 
economy.       
     
    FACTORS TO WATCH 
    * India's 2013/14 railway budget (0630 GMT) 
    * Ranbaxy Laboratories Ltd    Oct-Dec earnings (0730 
GMT) 
    * RBI Deputy Governor K.C. Chakrabarty to address investors' 
conference (0430 GMT) 
     
    INDIAN STOCKS TO WATCH 
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NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
    FINANCIAL/REGULATORY 
    * India's finance minister had a bruising battle with 
cabinet colleagues in the run-up to the budget he unveils this 
week, rebuffing demands for pre-election spending and insisting 
on austerity to shore up investors' faith in a troubled economy. 
(Reuters)    
    * The Reserve Bank of India is moving closer to requiring 
foreign banks to set up subsidiaries to operate in India, said 
two people familiar with the latest licensing conditions for 
foreign banks.  (Economic Times) 
 
     
    INFRASTRUCTURE 
    * Jaypee Infratech Ltd    has raised 66 billion 
rupees in loans from IDBI Bank Ltd    at reduced interest 
rates to repay its high-cost debt and improve profitability, a 
senior executive with the bank said. (Economic Times) 
 
 
    TELECOMS 
    * Sistema    emerged as the only operator bidding in 
an auction of airwaves in India, a sign that the government may 
have to drop the reserve price of remaining airwaves to attract 
interest, analysts said. (Reuters)    
    * Vodafone Group PLC    has put off plans to list its 
Indian unit because of the regulatory and policy uncertainties 
in the country, said Vittorio Colao, the chief executive of the 
world's largest private telecom company. (Economic Times) 
 
     
    AIRLINES 
    * India said it will give away Kingfisher Airlines Ltd's 
   slots and foreign flying rights to other operators in 
the latest blow to the grounded carrier. (Reuters) 
   
     
    PROPERTY 
    * The Gurgaon District Court has restrained Unitech Ltd 
   from carrying out further construction at the site of 
its luxury project in Gurgaon after an apartment owner 
association filed a suit against a shift in location, according 
to an order on Saturday. (Business Standard) 
 
     
    RETAIL 
    * Seven Bank, a unit of Japanese chain 7-Eleven, which 
itself is owned by Seven & I Holdings Co   , is 
considering entering into the white label automated teller 
machine (ATM) space in India, three people aware of the 
development said. (Business Standard) 
 
     
    IT 
    * Tata Elxsi Ltd    and Get2Volume (G2V) on Monday 
announced their partnership to incubate and grow technology 
companies in India and Singapore. (Mint) 
 
 
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