Indian stocks to watch- 5-11-2012

GLOBAL MARKETS ROUNDUP       
    * Nifty futures on the Singapore Exchange fell 0.2
percent. The MSCI-Asia Pacific index excluding Japan 
 is down 0.3 percent.          
    * U.S. stocks ended an unusual storm-shortened trading week
with a selloff on Friday, as major indexes erased early gains
sparked by a stronger-than-expected payrolls report.      
    * Asian shares fell on Monday, tracking a sell-off in global
shares late last week, as investors continued to shed risk ahead
of the closely fought U.S. presidential election and looked past
a strong U.S. jobs data to fragile economic growth worldwide.
       
          
    FACTORS TO WATCH    
    * Earnings on Monday: Cipla, Reliance Power
, Tech Mahindra 
    * India's inter-ministerial panel will hold a 2-day review
on coal block allocations to 31 state-run companies.
        
    INDIAN STOCKS TO WATCH
For additional press items double click 
NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
    
    TOP NEWS
    * India's economy should expand by 5.5 percent to 6.0
percent this year and growth should then return to 7 percent
next year, Finance Minister P. Chidambaram told Reuters on
Sunday, and said inflation was at an "unacceptable level".
(Reuters) 
    * India's embattled Congress party sought to drum up support
for the contentious opening up of the country's vast retail
sector to big foreign chains at a mass rally on Sunday, saying
supermarkets would help farmers and consumers battling high
inflation. (Reuters) 
    * A high-profile tax dispute between the Indian government
and British telecoms operator Vodafone Group has made it
unlikely that India will sign a foreign investment protection
treaty with Canada during a visit this week by Prime Minister
Stephen Harper, Canada's top diplomat in India said on Sunday.
(Reuters) 
    
    FINANCIAL/REGULATORY
    * Carlyle Group is in advanced negotiations with the
promoters of Prizm Payments for a controlling stake in one of
India's leading electronic payments service providers, said
three people with knowledge of the developments, according to
The Economic Times newspaper.
here
    * MCX-SX, India's new stock exchange, will formally launch
trading in equity, equity futures and options and other segments
once it gets 350 trading members connected to its systems,
according to a statement issued on Friday. (Reuters)
 

    ENERGY/COMMODITIES
    * The Odisha state government has asked leading steel and
iron ore companies to pay over 500 billion rupees ($9.30
billion) for alleged illegal and excess mining, the Economic
Times reported.
link.reuters.com/vuq73t
    * Reliance Industries Ltd on Saturday said it had
never contested the government's right to get the company's
spending on the D6 field in the Krishna-Godavari basin audited
by the Comptroller and Auditor General of India (CAG), but hoped
it would not be subjected to a performance audit. (Mint)
here
    * ACC Ltd said October cement shipments rose to
2.04 million tonnes versus 1.97 million tonnes a year ago.
(Reuters) 
    * Shree Renuka Sugars swung to a July-Sept net
profit of 77 million rupees from a loss of 573 million rupees a
year ago. (Reuters) 
     * Mangalore Refinery and Petrochemicals' 
July-September net profit rose to 11.85 billion rupees from 24
million rupees a year ago. (Reuters) 
    
    INFRASTRUCTURE
    * A consortium led by Noble Group Ltd is set to
walk out of a project to build an iron ore terminal in the state
of Orissa as delays in getting environment clearances and tight
regulations on mining have escalated costs, reported newspaper
Mint, citing three people familiar with the development. 
here
    * Crompton Greaves' July-September net profit fell
64 percent to 420.5 million rupees from a year ago. (Reuters)
 
    * Rural Electrification Corp.'s July-September net
profit rose 52.9 percent to 9.54 billion rupees from a year ago.
(Reuters) 
    
    PHARMA
    * India dealt a fresh blow to the international
pharmaceutical industry on Friday as its patents appeal board
revoked a patent granted six years ago on Roche's 
hepatitis C drug Pegasys. (Reuters) 
    * The listing of Biocon unit Syngene International
will not happen this financial year, Biocon Chairman and
Managing Director Kiran Mazumdar-Shaw told news agency Press
Trust of India. (PTI via Economic Times)
here
    
    IT
    * Tata Consultancy Services and HCL Technologies
 are in discussions with KBC Groupe to buy the
India-based offshore information technology arm of the Belgian
banking firm, according to people familiar with the talks.
(Economic Times)
here
    
    RETAIL
    * SEBI has asked the UB Group chairman Vijay Mallya and
United Breweries Holding Ltd  to submit information on
the recent share sale by three of Mallya's companies that led to
the promoter holding in UBHL being reduced from 51.5 percent to
43.09 percent, newspaper Business Standard reported.
    Sources in the Bombay Stock Exchange (BSE) and the National
Stock Exchange (NSE) confirmed that no disclosure regarding any
stake sale was received by them, while SEBI sources said the
regulator might also issue a show cause notice to the promoters
of UBHL, according to the report.
here
    * Tobacco cultivation has taken a hit this year in the state
of Karnataka due to patchy monsoon, pushing up auction prices,
said Tobacco Board of India director of auctions Manju
Pillai.(Economic Times)
here
    
    TELECOM
    * Videocon has withdrawn its application to
participate in the CDMA spectrum auctions, executives with
direct knowledge of the development confirmed. (Economic Times)
here
    * Incumbent GSM operators such as Bharti Airtel,
Vodafone and Idea, will get 2G airwaves in the
1800 MHz band, which is considered less efficient than the 900
MHz they currently use for offering second generation (2G) voice
and data services. (Economic Times)
here
    
    AUTOS
    * Volkswagen is undertaking a repositioning for
its group brands in India to align with its global practice,
which may see Skoda moving down in the pecking order, according
to news agency Press Trust of India (PTI via Economic Times)
    "It's a question of how different brands are placed against
themselves in the market. Skoda has a quite high position (in
India)," Volkswagen Group Board Member and Executive Vice
President Ulrich Hackenberg said, according to PTI.
    "In the group, Skoda is little bit positioned under
Volkswagen. So, we are on the way to make a correction,"
here
    * The Indian unit of General Motors is aiming to
double its annual volumes to 200,000 units in the next one year,
with the launch of three new cars including the Sail U-VA
hatchback launched on Friday, said Vikas Jain, director of sales
at General Motors India, The Economic Times reported. 
here
 
    TRANSPORT
    * Great Eastern Shipping's July-September net
profit rose three fold to 812 million rupees from 273.1 million
rupees a year ago. . (Reuters) 

    REAL ESTATE
    * Sobha Developers' July-September net profit rose
47.8 percent to 501 million rupees from a year ago. (Reuters)
 

     OTHER FACTORS TO WATCH                                     
 
* Indian debt/FX factors to watch                   
* US dollar in favour as market eyes election            
* Oil falls as U.S. acts to boost East Coast fuel supply  
* Foreign institutional investor flows         
* For closing rates of Indian ADRs                      
($1 = 53.7550 Indian rupees)

Posted in: STOCKS TO WATCH