CORRECTED-Indian stocks to watch-April 9
(Corrects name of NALCO in Stocks to Watch section, fixes Coal India's RIC)
MUMBAI, April 9 (Reuters) -
GLOBAL STOCK MARKETS ROUNDUP
* Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, making investors cautious ahead of more U.S. data and earnings as well as figures from China due this week.
* U.S. stocks fell on Friday in brief, holiday-thinned trading after a much weaker-than-expected report on U.S. job growth for March.
KEY EVENTS TO WATCH
* Reserve Bank of India Governor Duvvuri Subbaraoto to deliver opening remarks at an event. He is unlikely to comment on monetary policy ahead of the central bank meeting on April 17.(1330 GMT)
INDIAN STOCKS TO WATCH
* India's Supreme Court on Wednesday rejected appeals to overturn an order cancelling telecom licenses awarded in 2008, dealing a blow to Mobile operators including Telenor and Sistema's Indian joint ventures.
* State Bank of India, the country's top lender, expects credit and deposits to grow 20-25 percent in the fiscal year ending in March 2013, A. Krishna Kumar, managing director and group executive for national banking, said on Saturday.
Separately, SBI Chairman Pratib Chaudhuri expressed confidence RBI, faced with a slowing economy and rising inflation, will this month cut the amount of cash that banks must hold as reserves.
* Jewelers in India called off their three-week-old strike on Saturday, an industry official said, on assurances from Finance Minister Pranab Mukherjee that the government would consider scrapping a budget proposal to levy excise duty on unbranded jewellery.
* Coal India is expected to enter into fuel supply agreements with as many as 50 firms, including NTSC, Reliance Power and PVC, for a total capacity of 28,000 Mow, sources said. (Business Standard)
Separately, Coal India may import 10 million tonnes of coal this fiscal to meet the obligation of supplying a minimum assured quantity of fuel to power companies under a Presidential directive, Chairman-designate S Nursing Rato said today. (Economic Times)
* RIB has asked the promoters of Kodak Mahindra Bank to cut their stake in the bank to 10 percent from 45 percent by 2016. (Business Line)
* NALCO is poised to clinch a deal to source bauxite from Gujarat. Its negotiations with Gujarat Minerals Development Corporation reached the "final stage", the CM of Nacho, Mr B.L. Bagra, told Business Line. (Business Line)
* Private sector banks, such as ICICI Bank and HDFC Bank, that have majority foreign holding will not be considered foreign banks under a compromise solution thrashed out between RBI and the government. (Economic Times)
* Marico plans to sell 4.8% stake to Singapore's sovereign wealth fund GIC and Baring Private Equity India to raise 5 billion rupees. (Economic Times)
* Honda Siel Cars India, the joint venture between Honda Motor Co and the Shriram family of Usha International, is undertaking another round of fund raising, this time to raise 21 billion rupees, two persons close to the development said. (Economic Times)
* RBI has approved Axis Bank's purchase of Enam Securities, ending a 17-month wait and paving the way for the private bank to expand its business to include investment banking and other advisory services. (Economic Times)
* After two aborted attempts to raise 10 billion rupees through qualified institutional placements, South Indian Bank may now opt for preferential allotment of shares or a rights issue. (Economic Times)
* The Appellate Tribunal for Electricity has upheld the order of Maharashtra Electricity Regulatory Commission (MERC) allowing Tata Power to lay down its own network in south Mumbai and supply power to consumers in the area.
In other news Tata Power said it is in talks with energy company Sekoko Resources to acquire a stake in a coal project in South Africa, even as another partner in the African venture said that the Indian firm's bid has been rejected. (Economic Times)
* Suzlon Energy Ltd, Asia's third-biggest wind turbine maker by sales, is studying options for its German Repower Systems SE subsidiary, including a sale or listing a stake, people with knowledge of the matter said. (Economic Times)
* IL&FS Investment Managers has offered around $35 million to buy out U.S. chocolate Hershey's 51 percent stake in its Indian joint venture with the Godrej Group. (Times of India)
* In a move which could help private infrastructure companies such as Arcelor Mittal to get faster possession of coal blocks, the government proposes to revamp the archaic Coal Block Allocation (Acquisition and Development) Act of 1957. (Financial Express)
* The consortium comprising Bharat Petroleum Corporation , Oil and Natural Gas Corporation and Gujarat State Petroleum Corporation is not keen to raise its bid of $800-900 million for U.K.-based energy major BG's 65% stake in the Gujarat Gas Company. (Economic Times)
* State-owned Hindustan Copper is planning to raise $250 million in the current quarter through overseas borrowings to help finance its expansion activities. (Economic Times)
* The Mexico-headquartered Cinepolis, the world's fifth largest multiplex operator with over 2,500 screens, is in talks with BIG Cinemas, a unit of Reliance MediaWorks, for a strategic alliance. (Business Standard)
* Faced with a shortfall in gas production from its KG-D6 field, India Gas Solutions, the joint venture between Reliance Industries and British Petroleum will soon import liquefied natural gas (LNG) through the terminals of Shell India and Petronet LNG. (Business Standard)
NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.
OTHER FACTORS TO WATCH
* Indian rupee seen down on US data
* India bond yields seen down on global growth worries
* Dollar hits 1-mth low vs yen
* Brent slips below $123 on Iran nuclear talks
* Foreign institutional investor flows
* For closing rates of Indian ADRs (Reporting By Manoj Rawal; Editing by Rafael Nam)