Indian stocks to watch-Nov 16

Emkay Global Financial Services

16/11/2012 03:07

GLOBAL MARKET NEWS  
    * Nifty futures on the Singapore Exchange    fell 0.04  
percent. The MSCI-Asia Pacific index excluding Japan   
   was flat.                   
    * U.S. stocks were little changed on Thursday as the 
prospect of a drawn-out battle over impending tax and spending 
changes made investors wary of getting into the water.    
    * Asian shares steadied on Friday after falling nearly 2 
percent this week amid concerns about the looming U.S. "fiscal 
cliff", while Japanese stocks rallied for a second day on 
expectations of further monetary policy easing after an election 
next month.        
     
    FACTORS TO WATCH  
    * India's foreign reserves and bank lending data (1130 GMT) 
    * Inter-ministerial panel meets on coal block allocations to 
state-run firms. 
     
    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 
    * The Indian government will ask Wal-Mart Stores Inc    
to turn over some documents as part of a probe into whether the 
U.S. retailer violated foreign ownership rules, the Press Trust 
of India reported late on Thursday. (Reuters)    
    * Separately, Wal-Mart also said it has opened internal 
inquiries or investigations into bribery allegations in Brazil, 
China and India - additions to its original probe in Mexico. 
   
    * India is open to further reforms to lure overseas 
investors into its airlines, a government source said, after a 
dearth of interest following changes to investment rules left 
Kingfisher    and others still short of much-needed 
funds. (Reuters)    
   
    FINANCIAL/REGULATORY 
    * Westpac Banking Corp   , Australia's third-largest 
lender by assets, said on Thursday it has opened its first 
branch in India that will offer wholesale and retail banking 
services including trade finance, deposits and remittances. 
(Reuters)    
    * Brokerage Emkay Global    said it has tied up with 
the UK's investment bank Icon Capital for offering various 
advisory services. (Press Trust of India via Economic Times) 
 
     
    ENERGY/COMMODITIES 
    * Upstream oil regulator Directorate General of Hydrocarbons 
has given the nod to Reliance Industries    to drill a 
well as part of the $1.529 billion plan to develop four 
satellite gas fields around the now flagging main fields in the 
eastern offshore KG-D6 block. (Times of India) 
 
    * Vedanta Resources Plc    may cut output at its 
four-year-old aluminium smelter in India as it grapples with a 
shortage of raw material, two people familiar with the matter 
said. 
  
 
    TELECOMS 
    * India's mobile phone market is bound to consolidate after 
an expensive licensing process, helping Norway's Telenor 
   turn a profit in the country after years of losses, 
finance chief Richard Olav Aa said. (Reuters)    
     
    PROPERTY 
    * Private equity firm Xander Group is acquiring a 1.2 
million-sq ft retail and hotel project of real estate developer 
Ozonegroup for about 3.5 billion rupees, a person familiar with 
the deal told The Economic Times. (Economic Times) 
 
    
    AIRLINES 
    * Air India's    bond sale worth 74 billion rupees 
($1.35 billion) was fully subscribed and would save the company 
about one billion rupees a month in interest payments, the 
aviation secretary K.N. Srivastava said on Thursday. (Reuters) 
   
    * Air India is set to mandate Delhi-based real estate 
consultant DTZ International Property Advisors Pvt. Ltd to help 
it raise money by selling, leasing or redeveloping its real 
estate assets, according to airline and property consultancy 
executives. (Mint) 
 
    * Indian airlines are set to witness over 42 percent 
utilisation of seats allowed for overseas destinations, 
government data shows, surpassing for the first time in eight 
years the capacity used by foreign carriers flying into the 
country. (Economic Times) 
 
 
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
 
    OTHER FACTORS TO WATCH                                       
* Indian debt/FX factors to watch                         
* Yen steadies after plunge on calls for BOJ easing          
* Oil falls as economic fears outweigh Mideast violence       
* Foreign institutional investor flows               
* For closing rates of Indian ADRs                          
    
 
 (Compiled by Manoj Rawal; Editing by Rafael Nam) 
 ((rafael.nam@thomsonreuters.com)(+91-22)(6180-7425)(Reuters 
Messaging: rafael.nam.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS INDIA STOCKS/PRE OPEN