STOCK TO WATCH 16-11-2012

GLOBAL MARKET NEWS 
    * Nifty futures on the Singapore Exchange fell 0.04 
percent. The MSCI-Asia Pacific index excluding Japan  
 was flat.               
    * U.S. stocks were little changed on Thursday as the
prospect of a drawn-out battle over impending tax and spending
changes made investors wary of getting into the water. 
    * Asian shares steadied on Friday after falling nearly 2
percent this week amid concerns about the looming U.S. "fiscal
cliff", while Japanese stocks rallied for a second day on
expectations of further monetary policy easing after an election
next month.    
    
    FACTORS TO WATCH 
    * India's foreign reserves and bank lending data (1130 GMT)
    * Inter-ministerial panel meets on coal block allocations to
state-run firms.
    
    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
    * The Indian government will ask Wal-Mart Stores Inc 
to turn over some documents as part of a probe into whether the
U.S. retailer violated foreign ownership rules, the Press Trust
of India reported late on Thursday. (Reuters) 
    * Separately, Wal-Mart also said it has opened internal
inquiries or investigations into bribery allegations in Brazil,
China and India - additions to its original probe in Mexico.
 
    * India is open to further reforms to lure overseas
investors into its airlines, a government source said, after a
dearth of interest following changes to investment rules left
Kingfisher and others still short of much-needed
funds. (Reuters) 
  
    FINANCIAL/REGULATORY
    * Westpac Banking Corp, Australia's third-largest
lender by assets, said on Thursday it has opened its first
branch in India that will offer wholesale and retail banking
services including trade finance, deposits and remittances.
(Reuters) 
    * Brokerage Emkay Global said it has tied up with
the UK's investment bank Icon Capital for offering various
advisory services. (Press Trust of India via Economic Times)
here
    
    ENERGY/COMMODITIES
    * Upstream oil regulator Directorate General of Hydrocarbons
has given the nod to Reliance Industries to drill a
well as part of the $1.529 billion plan to develop four
satellite gas fields around the now flagging main fields in the
eastern offshore KG-D6 block. (Times of India)
here
    * Vedanta Resources Plc may cut output at its
four-year-old aluminium smelter in India as it grapples with a
shortage of raw material, two people familiar with the matter
said.
link.reuters.com/ges93t 

    TELECOMS
    * India's mobile phone market is bound to consolidate after
an expensive licensing process, helping Norway's Telenor
 turn a profit in the country after years of losses,
finance chief Richard Olav Aa said. (Reuters) 
    
    PROPERTY
    * Private equity firm Xander Group is acquiring a 1.2
million-sq ft retail and hotel project of real estate developer
Ozonegroup for about 3.5 billion rupees, a person familiar with
the deal told The Economic Times. (Economic Times)
here
   
    AIRLINES
    * Air India's bond sale worth 74 billion rupees
($1.35 billion) was fully subscribed and would save the company
about one billion rupees a month in interest payments, the
aviation secretary K.N. Srivastava said on Thursday. (Reuters)
 
    * Air India is set to mandate Delhi-based real estate
consultant DTZ International Property Advisors Pvt. Ltd to help
it raise money by selling, leasing or redeveloping its real
estate assets, according to airline and property consultancy
executives. (Mint)
here
    * Indian airlines are set to witness over 42 percent
utilisation of seats allowed for overseas destinations,
government data shows, surpassing for the first time in eight
years the capacity used by foreign carriers flying into the
country. (Economic Times)
here

Posted in: STOCKS TO WATCH