Web Sify
Follow us on
Mail
Print

Indian stocks to watch-Jan 15

Source : REUTERS
Last Updated: Wed, Jan 16, 2013 18:40 hrs

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange fell 0.2 percent. The MSCI-Asia Pacific index, excluding Japan fell 0.2 percent.

* The yen hovered near its 2-1/2-year low against the dollar on Tuesday, bolstering Japanese shares to multi-year highs on expectations for more aggressive monetary easing from the Bank of Japan.

* The S&P 500 and Nasdaq ended lower on Monday as worries over demand for Apple products drove down its shares and investors braced for earnings disappointments.

EVENTS TO WATCH

* Earnings: Axis Bank Ltd, Essar Oil Ltd

* India's Supreme Court will hear a petition against India's recently approved pharmaceutical pricing policy. (0530 GMT)

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.

ENERGY/COMMODITIES

* In a bid to neutralise political opposition to planned fuel price hikes, the government is considering a two-step process, The Financial Express reported citing unidentified sources.

First, the government would allow up to 12 subsidised domestic gas cylinders per year from the currently proposed nine and then raise prices of LPG and diesel in a phased manner, the newspaper reported. (Financial Express) http://www.financialexpress.com/news/12cylinder-carrot-to-lure-support-for-fuel-price-hike/1059299

* Encanto Potash Corp said on Monday that it is in talks with India's Rashtriya Chemicals and Fertilizers Ltd , but has not struck any agreement for future potash sales. (Reuters)

* India sold its first cargo of iron ore to China since a ban on mining in a key producing state took effect in October, a government official said on Monday, raising the prospect of more shipments which could cool prices that were at 15-month highs. (Reuters)

* After exhausting the current financial year's budgetary allocation, the fertiliser ministry has asked the finance ministry to make a special banking arrangement for fertiliser firms for settling the pending subsidy bills of around 250 billion rupees, said an official in fertiliser ministry. (Economic Times) http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/chem-/-fertilisers/fertiliser-ministry-seeks-finance-ministrys-help-to-settle-subsidy-bills/articleshow/18025741.cms

FINANCIAL

* Yes Bank Ltd and IndusInd Bank Ltd are negotiating to buy the Indian retail assets of Royal Bank of Scotland, The Economic Times newspaper reported citing two people familiar with the development. (Economic Times) http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/yes-indusind-may-buy-india-retail-business-of-royal-bank-of-scotland/articleshow/18027086.cms

* India's central bank has opened a special window to provide exporters with dollar credit by allowing banks to borrow the greenback from the central bank under a swap facility. (Reuters)

IT

* Tata Consultancy Services Ltd, India's No.1 software services exporter, topped expectations with a 23 percent rise in quarterly profit and reiterated it should beat a closely watched industry growth forecast. (Reuters)

TELECOMS

* India's Supreme Court allowed on Monday mobile phone carriers, whose permits were due to be revoked this week as per an earlier court order, to continue services until it hears the case next on Feb. 4, a lawyer on the case said. (Reuters)

* The telecom department (DoT) wants the central government to bear the cost of the one-time spectrum fee for Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, saying the state-owned companies are not in a position to shell out nearly 120 billion rupees toward this charge. (Economic Times) http://economictimes.indiatimes.com/news/news-by-industry/telecom/dot-wants-government-to-bear-the-cost-of-the-one-time-spectrum-fee-for-bsnl-and-mtnl/articleshow/18026846.cms

PHARMA

* Pfizer Inc is considering buying India's Agila Specialties, the injectable-medicines unit of Indian drug supplier Strides Arcolab Ltd, for a possible price of $2 billion, Bloomberg reported on Monday. (Reuters)

AIRLINES

* Spicejet Ltd is reportedly in talks with some foreign carriers, with Gulf carrier Qatar Airways being the most likely suitor, and the deal could materialize this quarter, The Times of India reported citing unidentified "highly-placed sources." http://toi.in/-jsnYb

AUTOS

* Tata Motors Ltd has implemented a three-day block closure at its heavy and medium commercial vehicles plant in Jamshedpur on Jan. 14-16, according to a notice put up at the company's plant.(Financial Express) http://www.financialexpress.com/news/tata-motors-plant-in-fifth-block-closure-of-truck-unit/1059291

* Hero MotoCorp Ltd is set to invest 9.5 billion rupees in Rajasthan to commission its fourth production unit, a global parts centre and an integrated state-of-the-art research & development facility in the state. (Business Standard) http://www.business-standard.com/india/news/hero-motocorp-to-invest-rs-950-cr-wage-talks-inconclusive-/498877/

INDUSTRIALS

* Crompton Greaves Ltd has entered into a pact to buy Karma Industries Ltd's compact fluorescent lamp manufacturing business for 145 million rupees, the Avantha Group company said. (Economic Times) http://economictimes.indiatimes.com/news/news-by-industry/cons-products/electronics/crompton-to-buy-karmas-lamp-business-for-rs-14-5-crore/articleshow/18027111.cms NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.

(Compiled by Manoj Rawal; Editing by)




More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance