MUMBAI, April 19 (Reuters) -
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* Asian shares moved in a narrow range on Thursday as investors grew cautious ahead of a key Spanish bond sale.
* U.S. stocks slipped on Wednesday after uninspiring earnings from tech bellwethers IBM and Intel.
* Vodafone Group Plc, India’s Tata Communications have to decide by 1600 GMT whether to make an offer for British telecom group Cable & Wireless Worldwide, valued at $1.5 billion.
* Ambuja Cements announces Jan-March quarter earnings on Thursday. StarMine estimates the company’s net profit is likely to have grown 9.4 percent to 4.45 billion rupees. Sales are expected to have risen 13 percent to 24.94 billion rupees.
* Trade Secretary Rahul Khullar will brief the media on India’s trade data for March, as well as the full fiscal year data. (0730 GMT)
* India will allow power companies to raise overseas debt to finance up to 40 percent of rupee debt on existing power projects, likely in the next seven days, a finance ministry official said on Wednesday.
* The Jharkhand government is considering cancelling its agreements with Ispat (now JSW Ispat ) and Bhushan Steel to set up steel projects in the state. (Economic Times)
* Aditya Birla group’s UltraTech Cement, India’s largest cement maker, is in talks to acquire a large limestone mine in Mozambique for about 15 billion rupees. (Economic Times)
* The Coal Ministry is likely to begin this week the process of issuing show-cause notices to 58 captive coal block holders, including PSUs, which have not started the development work of mines in stipulated time. (Economic Times)
* JSW Steel will start work on a $3 billion plant in West Bengal state as soon as October after securing $2 billion in debt funding, CFO Seshagiri Rao said. (Financial Chronicle) -------------------
* CMC’s Jan-March net profit fell 2.37 percent to 429.3 million rupees from 439.7 million rupees a year ago.
* Indian Hotels Co Ltd is looking to raise 2 billion rupees ($38.79 million) in unsecured five-year bonds, a source with knowledge of the deal told Reuters on Wednesday.
* The government is likely to insist on 100 percent domestic sourcing for three major telecom projects worth nearly 360 billion rupees, shutting off foreign vendors who were hoping to bag a chunk of these contracts. (Economic Times)
* Japan’s NTT DoCoMo may soon increase its holding in Tata Teleservices to 49 percent from 26 percent now, people familiar with the development said. (Financial Express) -------------------
* India’s SpiceJet has been approached by several Gulf-based and Southeast Asian airlines but will not jump into negotiations before the government reaches a crucial decision on foreign investment, its chief executive said on Wednesday.
* Kingfisher Airlines has filed an appeal against the income tax department, challenging a 3.7 billion rupees tax demand for 2010-2013. (Business Standard)
* State-owned Air India posted a healthy 46 percent revenue growth last month over the same period last year, sources said. (Business Standard)
* Dubai-based Emirates airline has indicated it may look at investing in an Indian carrier, as India’s government is mulling to allow foreign airlines to buy stakes in domestic carriers. (Economic Times)
* Bombardier, the world’s largest maker of business jets and third-biggest maker of commercial aircraft has set up its engineering service centre in Bangalore. (Economic Times) -------------------
* Future Supply Chains, India’s largest supply chain company, plans to raise a second round of private equity funding to diversify into new consumer-driven sectors as retail growth in the country shows signs of moderation.
* India’s capital market regulator will announce regulations governing hedge funds in the next fortnight, according to a Securities and Exchange Board of India official. (Mint)
* Chennai-based TVS Logistics Services Ltd plans to divest a near 20% stake to private equity firm KKR for around $55 million. (Economic Times)
* Tata Capital said it has entered into a partnership with Japanese leasing business company Century Tokyo Leasing Corporation for collaboration in the equipment leasing business market. (Economic Times)
* Diversified conglomerate Essar Group is considering a sale of its billion-dollar business process outsourcing company Aegis, after receiving non-binding offers from private equity giants. (Times of India)
NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.
* Indian debt/FX factors to watch
* Aussie perks up on China; euro eyes Spain
* Oil falls as US inventories rise a 4th week
* Foreign institutional investor flows
* For closing rates of Indian ADRs
Reporting By Manoj Rawal; Additional reporting by Abhishek Vishnoi; Editing by Rafael Nam