MUMBAI, April 13 (Reuters) -
GLOBAL STOCK MARKETS ROUNDUP
* Asian shares rose on Friday on better-than-expected demand
for Italian sovereign debt, shrugging off a rocket launch by
North Korea that South Korean officials said had failed.
Trading may later be dominated by China data showing the
economy grew at a slower-than-expected 8.1 percent in the first
quarter, the slowest pace in nearly three years.
* U.S. stocks scored a second day of solid gains on
Thursday, led by materials and energy stocks, as investors set
aside weak figures on the domestic labor market.
KEY EVENTS TO WATCH
* India's Supreme Court to hear Indian government's review
plea in 2G telecoms case (0230 GMT)
* India's Supreme Court hearing on whether to include the
home minister in telecoms corruption trial (0330 GMT)
* India's Foreign reserves announcement (1230 GMT)
INDIAN STOCKS TO WATCH
* Infosys Ltd, India's second-largest software
services exporter, reported a 27.4 percent rise in quarterly net
profit, meeting forecast, after customers ramped up orders to
cut operational costs.
* India will raise the retail prices of subsidised fuels,
including diesel, once parliament approves the finance bill for
the current fiscal year early next month, a senior government
source with knowledge of the matter said on
* Facing united opposition from foreign investors to the
proposed general anti-avoidance rules (GAAR), the finance
ministry has decided to revisit the changes made in Budget
A key option is to extend the period of introduction of the
new tax regime, so that foreign institutional investors get time
to wind down existing commitments to their investors abroad.
* India's debt-laden national carrier Air India,
will receive an equity infusion of 67.5 billion rupees ($1.3
billion) in the current fiscal year and will spin-off two of its
units as part of a financial restructuring plan approved by the
* Aluminum products maker Novelis Inc, which has
cut its fiscal 2012 earnings estimate because of lower shipments
and soft demand, will close its aluminum plant in Quebec.
* Oil trader Trafigura has made its first move
into refining in Asia, investing up to $130 million for a 24
percent stake in Nagarjuna Oil Corp Ltd's planned refinery in
southern India and replacing BP as NOCL's crude supplier.
* Life Insurance Corporation of India plans to invest at
least 2.25 trillion rupees this fiscal year, roughly one-fourth
of that in equities, chairman-in-charge Dinesh Kumar Mehrotra
* State Bank of India, the country's largest
lender, plans to buy loans from banks in the U.S. and Europe to
boost its overseas credit assets and profitability. (Business
* IDBI Bank may consider raising its offshore fund
raising plan to least $2.5 billion overseas by January from $1.5
billion now, Executive Director Melwyn Regi told reporters.
* Road and real estate developer IVRCL is looking
to raise 30 billion rupees by selling a 37.5% stake in IOT Utkal
Energy Services, a special purpose vehicle that is building a
storage terminal for Indian Oil's upcoming refinery in Orissa.
* Suzlon Energy, which urgently needs to repay
$569 million to bondholders by October, has begun talks with key
banks to raise money amidst signs of wariness among some
lenders. (Economic Times)
* Adani Ports and Essar Ports are in the
race to win the bidding to build the 36.83 billion rupees mega
container terminal at Chennai Port. (Business Standard)
* GlaxoSmithKline and Teva Pharma are in
separate discussions to acquire the domestic business of
Bangalore-based Micro Labs. (Business Standard)
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
OTHER FACTORS TO WATCH
* Indian rupee seen up on capital inflow hopes
* Indian bond yields seen falling on rate cut hopes
* Singapore dlr up on MAS to lift appreciation slope
* Crude rises as China GDP talk lifts markets
* Foreign institutional investor flows
* For closing rates of Indian ADRs
(Reporting By Manoj Rawal; Additional reporting by Abhishek
Vishnoi; Editing by Rafael Nam)