Indian stocks to watch-April 16

MUMBAI, April 16 Sun Apr 15, 2012 11:25pm EDT

MUMBAI, April 16 (Reuters) -

GLOBAL STOCK MARKETS ROUNDUP

* Asian shares eased on Monday as a surge in Spanish government bond yields renewed concerns about the euro zone's sovereign debt crisis and undermined investor confidence in riskier assets.

* U.S. stocks closed their worst two-week slide since November with a selloff on Friday on disappointing China growth data and concerns that Europe's debt crisis was flaring up again.

KEY EVENTS TO WATCH

* Wholesale price inflation probably slowed down marginally to 6.70 percent in March from 6.95 percent in the previous month on a moderation in prices for non-food items. (0630 GMT)

* The Reserve Bank of India will release its report on macro economic and monetary developments in the 2011-12 fiscal year. (1130 GMT)

INDIAN STOCKS TO WATCH

* Indian drugmaker Piramal Healthcare has agreed to buy a research and development portfolio from Bayer AG , the company said, in a deal that gives Piramal rights to florbetaben, a possible Alzheimer treatment.

* Siemens India may partner with energy-led conglomerate Reliance Industries Ltd for future security solution projects on a case-by-case basis, a senior official said.

* India's Tata Steel plans to invest up to 800 million pounds ($1.3 billion) in its facilities in Wales over the next five years, the First Minister of Wales, Carwyn Jones, said in a statement, after returning from a visit to India.

* State-run NALCO is looking to set up a new aluminium smelting facility of 500,000 tonnes and 1,250 MW captive power plant in Odisha's Sundargarh district with an investment of 180 billion rupees, a top company official said. (Economic Times)

* The bunker of the 6th unit of the NTPC thermal power plant at Kahalgaon in Bhagalpur district collapsed, halting power generation from the unit with 500 MW capacity, an official said. (Economic Times)

* The US Export-Import Bank has approved a direct loan of $80.32 million for the purchase of 'concentrated solar power technology' by Reliance Power in Rajasthan. (Business Line)

* Power Construction Corporation of China has signed a $2.4 billion contract to build the second phase of a massive coal-fired power complex in southern India to help meet soaring local demand for electricity, the firm said on Friday.

* HSBC is not likely to buy the retail and commercial banking businesses of Royal Bank of Scotland in India unless it gets the majority of its branches here, sources familiar with the development said. (Business Standard)

* Hedge fund The Children's Investment Fund has said it would initiate legal action against state-run Coal India within a week for failing to protect the interests of minority shareholders. (Economic Times)

* Ranbaxy Laboratories will launch this month the country's first indigenously developed new medicine, a malaria drug, at one-third the cost of the current therapies. (Economic Times)

* Car major Maruti Suzuki said it plans to invest 20 billion rupees in diesel engine manufacturing facility at its Gurgaon plant to meet the demand for Swift and Desire models. (Economic Times)

* Bharti Airtel, the country's top mobile phone company, is in advanced talks with Chinese OEMs to bring 'mifi' devices that will help people in India to access fourth generation services from their 3G smart-phones. (Economic Times)

* Two days after the government approved a turnaround plan, the cash-strapped national carrier Air India invited merchant bankers to raise working capital loans up to $1 billion from overseas markets. (Economic Times)

* The Coffee Day Group, which straddles diverse businesses ranging from coffee retailing to wealth management to logistics, is setting out on a 4-billion rupees expansion this financial year. (Business Standard)

* The Shipping Ministry, concerned over India's declining market share in global shipbuilding, has sought immediate policy measures for shipbuilders such as Shipping Corp. of India , including the revival of a subsidy scheme. (Economic Times)

OTHER FACTORS TO WATCH

* Indian rupee seen down on euro zone worries

* Indian bonds yields seen down on rate cut hopes

* Euro falls broadly on euro zone debt jitters

* Oil slips as China growth lags forecast

* Foreign institutional investor flows

* For closing rates of Indian ADRs (Reporting By Manoj Rawal)

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