GLOBAL MARKET NEWS * Nifty futures on the Singapore Exchange rose 0.2 percent. The MSCI-Asia Pacific index excluding Japan was up 0.6 percent. * U.S. stocks bounced higher for a second consecutive session on Monday as investors were encouraged by the early atmosphere surrounding talks to tackle the nation's fiscal crunch. * Asian shares rose on Tuesday on hopes of a compromise in the U.S. fiscal crisis, while the euro fell after Moody's Investors Service scrapped France's top-notch credit rating, reminding investors of the protracted euro zone debt crisis. FACTORS TO WATCH * Finance Minister P. Chidambaram will be in Bangalore for a meeting with the chief ministers of South Zone states. * The Reserve Bank of India Governor Duvvuri Subbarao will give an address on 'G 20 and India' in Mumbai (Event starts at 1230 GMT) 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. ENERGY/COMMODITIES * Tata Steel will continue to pursue a cost-cutting target of 12 billion rupees set for 2012-13 for its domestic operations, said Tata Steel managing director HM Nerurkar. (Financial Express) here * The Home Ministry has allowed Essar Ports and Adani Ports and Special Economic Zone to bid for the mega container terminal project in Chennai. (Economic Times) here * The Reserve Bank of India directed banks not to give loans for purchase of gold in any form, including primary gold, bullion and jewellery, to dissuade people from indulging in speculative activity. (Economic Times) here * Monnet Ispat and Energy Ltd is targeting to buy a majority stake at a coal mine in Colombia, said N.C. Jha, CEO of the Mining Business division. (Business Line) here FINANCIAL/REGULATORY * Insurance sector regulator IRDA is objecting to the finance ministry's plan to allow Life Insurance Corporation (LIC) to own up to 25 percent of a listed company. (Economic Times) here * Officials of the Foreign Investment Board will meet Tuesday to discuss the potential implications in India from a recent report by the U.S. Congress Panel that said Huawei Technologies and ZTE Corp posed a security threat. (Economic Times) here RETAIL * Dairy giants Danone is among potential acquirers of a controlling stake in Tirumala Milk Products after promoters and private equity investor Carlyle Group started work on a share sale plan, said sources directly familiar with the process. (Times of India) here AUTOS * Honda Motor Co on Monday announced the recall of 11,500 units of standard variant of its premium motorcycle CBR 250R, which were produced and sold in India, due to a defective brake system. (Times of India) here AIRLINES * Air India Ltd is undertaking a series of steps to rid itself of debt while hoping to post an operating profit by the end of fiscal 2013 and a net profit by 2020, according to two senior airline executives. (Mint) here IT * Polaris Financial Technology is planning to allocate $100 million to acquire two to three product firms in four years, as part of its new plans to double its revenue, said Arun Jain, chairman of Polaris. (Business Standard) here
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