Indian stocks to watch-Dec 14
GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange rose 0.2 percent higher. The MSCI-Asia Pacific index excluding Japan was 0.56 percent down. * The S&P 500 ended its six-day winning streak on Thursday, retreating as worries intensified that Washington's "fiscal cliff" negotiations were dragging on with little progress. * Asian shares snapped a week-long winning streak on Friday, tracking global equities lower, on concerns that U.S. lawmakers are still too far apart to avert a fiscal crisis with an end-of-year deadline looming. FACTORS TO WATCH * India finance ministry conference on reviving economic growth. (0400GMT) * India November WPI inflation. (0630GMT) * Bharti Infratel IPO closes. INDIAN STOCKS TO WATCH For additional press items double click TOP NEWS * Indian inflation probably picked up in November as a weak currency pushed up the price of imported fuel, adding to the challenges facing a central bank torn between fighting rising prices and an economic slowdown, a Reuters poll showed. (Reuters) * India's cabinet approved the creation of a special panel on Thursday with watered-down powers to speed up the notoriously slow implementation of big-ticket infrastructure projects. (Reuters) * India approved a new policy to encourage investment in urea manufacturing, a senior minister told reporters on Thursday, a move likely to expedite $6.5 billion in projects that have been held back and to reduce the country's reliance on imports. (Reuters) * The Indian cabinet approved a 30 percent cut in the reserve price of mobile phone airwaves in four telecommunication zones, a minister said on Thursday, after carriers shunned last month's auction in those zones saying the prices were too high. (Reuters) ENERGY/COMMODITIES * Ambuja Cements Ltd board approved the payment of Technology and Know-how Fees to Holcim Ltd., Switzerland, at the rate of 1 percent of the net annual sales of the company, to be effective from January 01, 2013. (Reuters) * India, the world's biggest sugar consumer, is expected to decide on raising the import duty on the sweetener in a fortnight, Food Minister K.V. Thomas said on Thursday, as lower prices in the world market made room for such imports in the past two months. (Reuters) * JSW Steel, India's largest private sector steelmaker, plans to raise production if iron ore supplies improve. (Economic Times) link.reuters.com/suq64t * The government has advised power generating utilities to import 46 million tonnes of coal in the current fiscal to bridge the gap between demand for coal and its domestic supply, power minister Jyotiraditya Scindia said on Thursday. (Economic Times) link.reuters.com/tuq64t FINANCIAL * Moody's has affirmed debt and deposit ratings and revised outlook to negative of three Indian banks, Bank of Baroda , Canara Bank and Punjab National Bank . (Reuters) * State Bank of India Chairman Pratip Chaudhuri is slashing costs for consumers and shutting or pruning unprofitable businesses as he tries to make the country's biggest bank more nimble-footed than private players and steer it away from the legacy of unviable ventures. (Economic Times) link.reuters.com/puq64t * Maintaining negative outlook on the country's banking sector, Fitch Ratings said gross bad assets of domestic banks could reach 4.2 percent of advances this fiscal and the asset quality could remain stressed over the next year. (Press Trust of India in Economic Times) link.reuters.com/quq64t * Around half a million employees representing various public sector banks are planning to go on strike on December 20 against government's plans to push an amendment to the Banking Laws. (Business Standard) REALTY * Indian billionaire Anil Ambani's Reliance Group and China's Dalian Wanda Group on Thursday announced a tie-up to develop real estate and movie theatre projects, the latest partnership between Ambani and China. (Reuters) AVIATION * Reviewing its earlier decision to abolish airport development fees from January 1, 2013, the government has now proposed to halve the charge by spreading it over a longer tenure. (Economic Times) link.reuters.com/nuq64t POWER/INFRA * Power plants producing 50,000 mw, or nearly a quarter of India's total capacity, will have to cut tariffs as the Calcutta High Court has said regulators cannot fix provisional tariffs for new units, which consumers say are abnormally high. (Economic Times) link.reuters.com/ruq64t * Developers of special economic zones (SEZs) in Maharashtra that have had to scrap their projects or defer them in the face of problems acquiring land or following unfavourable changes in tax laws may be able to revive them if the state government goes ahead with a plan to allow them to develop the real estate they have already acquired. (Mint) link.reuters.com/vuq64t AUTO * TVS group may lose control in Wheels India, if Titan International group receives full response to its open offer to the public shareholders of the auto ancillary company. (Business Line) link.reuters.com/wuq64t * 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 poised for another sorry week as BOJ looms * Oil falls as fiscal cliffhanger fuels caution * Foreign institutional investor flows * For closing rates of Indian ADRs (Compiled by Manoj Rawal; Editing by Subhadip Sircar)
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