stocks to watch - 7-11-2012

GLOBAL MARKETS ROUNDUP        
    * Nifty futures on the Singapore Exchange down 0.2
percent. The MSCI-Asia Pacific index excluding Japan 
 was 0.09 percent lower.           
    * S&P 500 index futures fell in late trading on
Tuesday as early results from the U.S. presidential election
started to trickle in.       
    * Asian shares were capped while the safe-haven yen gained
on Wednesday as investors remained guarded against the risk of
an indecisive outcome in the close-fought U.S. presidential
election, with early counting as yet showing no clear winner.  
        
           
    FACTORS TO WATCH     
    * World Economic Forum event in New Delhi. Attendees include
Canadian Prime Minister Stephen Harper, former UK Prime Minister
Gordon Brown, Nestle CEO Paul Bulcke among others.
    * Tata Motors, Bharti Airtel and 
Kingfisher Airlines report July-September earnings.
        
    INDIAN STOCKS TO WATCH
For additional press items double click 
    
    TOP NEWS
    * President Barack Obama rolled up victories in Wisconsin
and Pennsylvania on Tuesday and limited Republican challenger
Mitt Romney's path to victory as U.S. voters decided between two
starkly different visions for the country. 
    * Canadian firms will be able to export uranium and nuclear
reactors to India for the first time in almost four decades
under an agreement between the two nations, their prime
ministers said, but more work is needed to implement the deal.
(Reuters) 
    
    FINANCIAL/REGULATORY
    * L&T Finance Holdings, the financial services arm of Larsen
& Toubro, is close to buying out Pantaloon Retail's
 stake in the latter's general insurance joint venture
Future Generali India Insurance Company. A formal announcement
is expected within the next 2-3 weeks, said three sources
directly involved in the ongoing transaction. (Economic Times)

    * Reliance Capital reported July-Sept net profit
of 4.01 billion rupees from 330 million rupees a year ago as
total income from operations rose 56.23 percent to 24.31 billion
rupees from 15.56 billion rupees a year earlier. (Reuters)
 
   * The government will soon allow foreign institutional
investors to invest in asset reconstruction companies, a measure
that could encourage firms that deal with non-performing loans
to list on stock exchanges. (Economic Times)

  * The Aditya Birla group, led by Kumar Mangalam Birla, has
taken charge of its mutual fund joint venture with Sun Life
Financial of Canada by buying one per cent stake from the
latter. (Business Standard)

    ENERGY/COMMODITIES
    * India's Hindalco Industries warned rising input
costs may impact performance in coming quarters after higher
costs and lower production volumes in its aluminium business
resulted in a 29 percent fall in its quarterly profit from
domestic operations. (Reuters) 
    * India's Tata Power Company Ltd posted a surprise
second-quarter loss, hit by higher finance and depreciation
costs at its power projects and lower revenue from its coal
units. The company posted a consolidated net loss of 838 million
rupees ($15.4 million), compared with a consolidated net loss of
11.9 billion rupees a year earlier. Revenue rose 22 percent to
76.49 billion rupees, helped by the commissioning of new units.
(Reuters) 
    * Oil India said its July-Sept net profit was down
16.15 percent to 9.55 billion rupees from 11.39 billion rupees a
year ago as net sales for the quarter fell 26.09 percent to
24.02 billion rupees from 32.5 billion rupees a year earlier.
(Reuters) 
    * State-run transmission utility Power Grid Corporation
 said it is planning to enter the distribution network
segment as a part of its expansion plan and is already in talks
with Odisha in this regard. (Economic Times)
    
    INFRASTRUCTURE
    * Malaysian sovereign fund Khazanah and SBI
Macquarie have emerged as potential investors in Bangalore-based
diversified conglomerate GMR Group's road assets. (Economic
Times)

    * Mukesh Ambani-controlled Reliance Industries is
in the fray to acquire Hotel Leelaventure -promoted IT
park in Chennai for 1.72 billion rupees, said people familiar
with the matter. (Times of India)

    * A multi-billion rupees deal between private equity firm
IL&FS Investment Managers and real estate developer
Logix Group has been stalled, with investors get cautious about
backing realty projects. (Economic Times)

    
    PHARMA
    *     Sun Pharmaceutical Industries is expected to
make a provisioning of around $320 million towards a liability
claimed by American drug maker Wyeth, sources said. (Business
Standard)
    
    HOTELS
    * Indian Hotels Company Ltd, whose flagship Taj
Mahal Palace hotel in Mumbai overlooks the city's harbour and
iconic Gateway of India arch, reported a net loss of 63.6
million rupees ($1.2 million)for the quarter ended September. It
had posted a net profit of 83.5 million rupees in the year-ago
period. (Reuters) 
    * Mahindra Holidays & Resorts India on Tuesday
announced it had acquired a 49 percent stake in Infinity
Hospitalities Group Co Ltd for an undisclosed sum, following
which it had added a new resort in Bangkok, Mac Boutique Suites,
which would have 77 rooms. (Business Standard)

    AVIATION
    * Indian carrier Kingfisher Airline's creditors
have asked it to bring in fresh equity or an investor by Nov.
30, the chairman of State Bank of India told Reuters.
Kingfisher may not be able to fly if it does not infuse enough
capital, hurting its ability to get investors, Pratip Chaudhuri
said on Tuesday. (Reuters) 
    
    RETAIL
    * Private equity A-listers are racing to buy a minority
stake in Jyothy Laboratories after the home grown FMCG
major embarked on raising 5.5 billion rupees, said people
briefed on the matter. (Times of India)

    
    AUTOS
    * A month after Bajaj Auto's Discover overtook
Splendor, Hero MotoCorp's flagship bike has regained
pole position as the largest-selling two-wheeler brand in the
world. (Economic Times)

     
    
    OTHER FACTORS TO WATCH                                      
* Indian debt/FX factors to watch                   
* Dollar eyes U.S. presidential race, AUD shines         
* Oil up with Wall Street as U.S. goes to the polls       
* Foreign institutional investor flows         
* For closing rates of Indian ADRs

Posted in: STOCKS TO WATCH