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. GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange rose 0.6 percent. The MSCI-Asia Pacific index excluding Japan is up 0.6 percent. * The S&P 500 scored its best day in seven weeks on Thursday on bullish consumer confidence and private-sector jobs data. * Asian shares rose on Friday as investor risk appetite returned after overnight data suggested some stabilisation in the global recovery trend, particularly in the world's top two economies, the United States and China. FACTORS TO WATCH * India's foreign reserves, bank lending data (1130 GMT) * Earnings on Friday: Crompton Greaves, Apollo Tyres, Jet Airways, Union Bank of India . TOP NEWS * Wipro Ltd beat forecasts with a 24 percent rise in quarterly profit, helped by a surge in outsourcing demand as Western clients look to cut costs in an uncertain economic environment. (Reuters) * Finance minister P Chidambaram urged his ministerial colleagues to immediately take belt tightening measures to stave off a fiscal crisis which could turn India into junk grade on creditworthiness. (Times of India) toi.in/ImJodb ENERGY/COMMODITIES * Reliance Industries Ltd has cut its estimate of gas reserves in the D6 block off India's east coast by about two-thirds to 3.4 trillion cubic feet (tcf), the oil ministry said. (Reuters) * The office of the Comptroller and Auditor General of India said it would have unfettered right of access to all records of Reliance Industries during its audit of operations in the Krishna-Godavari basin and would override any conditions sought to be imposed on the process. (Business Standard) here * The government put on hold the 26.5 rupees increase in price of cooking gas cylinders that consumers buy beyond their quota of six subsidised bottles, an unnamed top oil company official told The Economic Times. (Economic Times) here * ArcelorMittal has been allotted 2,569 acres in the state of Karnataka, where it proposes to set up a six-million tonne steel plant at an investment of 300 billion rupees. (Economic Times) here * Steel Authority of India said it will expand its production capacity to 18 million tonnes from the existing 14 MT by the end of current financial year. (Economic Times) here * BGR Energy's July-September net profit fell 32.4 percent to 347.3 million rupees from a year ago. (Reuters) FINANCIAL/REGULATORY * State Bank of India has ruled out any cut in its lending rates due to steep hike in the provisioning for restructured standard assets, an unidentified senior bank official told Press Trust of India. (PTI via Economic Times) here * The Reserve Bank of India has urged the government to further liberalise foreign direct investment norms by doing away with most sectoral caps in order to cut reliance on investment flows to fund India's record high current account deficit. (Economic Times) here TELECOMS * A panel of Indian ministers says telecom operators fighting the withdrawal by government of high quality airwaves will be allowed to keep some of their spectrum holdings, according to a government official. Market leaders Bharti Airtel and Vodafone's India unit will be hit hardest by the replacement of 900 MHz band spectrum by lower quality 1800 Mhz band capacity. (Reuters) AUTOS * Hyundai Motor Co's Indian unit will invest $300 million in a new engine plant and metal pressing shop, the company said on Thursday, to expand in the country's fast-growing diesel car segment. (Reuters) * Hero MotoCorp's October sales rose 3.3 percent to 529,215 vehicles from a year ago. (Reuters) AIRLINES * Hong Kong-based investment firm Bravia Capital is eyeing investment opportunities in Indian airline companies, said managing director Hal Hayward.(Economic Times) "I am here. We've been watching the Indian market for quite some time. We have been talking to the airlines and we have a pretty consistent interest in the market. We are looking for opportunity and feel that there would be an investment definitely," Hayward was quoted as saying. here RETAIL * Tata Global Beverages has dropped its plan to foray into the food segment, Business Standard reported, citing a conversation with managing director Harish Bhat. "We are a natural beverages company and our focus will be on tea, coffee and water," Bhat was quoted as saying by the newspaper. (Business Standard) here OTHER FACTORS TO WATCH * Indian debt/FX factors to watch * Yen dangles near 4-month low, commodity currencies firm * Brent slips, U.S. crude higher as stockpiles drop * Foreign institutional investor flows * For closing rates of Indian ADRs
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