GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange rose 0.13 percent. The MSCI-Asia Pacific index excluding Japan gained 0.38 percent. * U.S. stocks rose on Tuesday, led by gains in technology companies, helping the S&P 500 end at its highest level since Election Day. * Asian shares rose buoyed by strength in global equities markets, firmer economic sentiment in Germany and hopes of a deal from U.S. budget talks, while the dollar came under pressure ahead of the Federal Reserve's policy decision. FACTORS TO WATCH * October industrial output data (around 0530 GMT). * India November retail inflation data around 0530 GMT. * India govt looking to raise about $1 billion by divesting a stake in state miner NMDC. * India parliament watched for fate of banking reforms bill. * RBI deputy governor HR Khan at industry event at 1130 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. TOP NEWS * The Indian government's wide fiscal deficit and a heavy debt burden are the most "significant rating constraints" to the country's sovereign rating, Standard & Poor's said, reiterating its warning that India faces a one-in-three chance of being downgraded to junk over the next 24 months. (Reuters) * North Korea launched its second long- range rocket of 2012 on Wednesday and may have finally succeeded in putting a satellite into space. (Reuters) FINANCIAL * Credit Analysis and Research (CARE) has received bids for more than 40 times the number of shares on offer in a stock market debut set to raise up to $99 million. (Reuters) * The Supreme Court on Tuesday ruled that banks were entitled to declare as a wilful defaulter any person who did not repay his dues under a foreign exchange derivatives contract. (Business Standard) ENERGY/COMMODITIES * The floor price for the sale of shares in India's state miner NMDC Ltd has been set at 147 rupees a share, a finance ministry official said on Tuesday, in a deal that could raise $1.1 billion. (Reuters) * India is considering raising the cap on the number of subsidised LPG cylinders available to households to nine per year, Oil Minister Veerappa Moily said on Tuesday. (Reuters) * Partners GVK Power of India and Hancock Coal of Australia have signed a preliminary deal with a local firm to provide third-party rail hauling services for undeveloped coal projects in Australia's Queensland state. (Reuters) * India's state oil companies intend to press ahead with plans to buy stakes in Canada's oil sands and believe they will not run afoul of tougher Canadian rules on foreign ownership of the sector. (Reuters) TELECOMS * Bharti Airtel Ltd, is talking to key bankers to raise funds from abroad by the first quarter of 2013, a banking source said. (Business Standard) here * Motorola Mobility is indefinitely suspending operations at its phone assembly and packaging unit in Chennai starting from February next year. William Moss, spokesperson for Motorola Mobility, said the move was part of a global supply chain streamlining. (Times of India) here * Japan's NTT Docomo has invested 7.84 billion rupees by subscribing to fresh equity in Tata Teleservices in the last two financial years ending March 2012, adding to its existing stake, according to Tata Teleservices' annual report. (Business Standard) IT * BT is selling its 9.1 percent stake in Tech Mahindra in a deal expected to raise about $183 million and see the British telecoms operator exit an Indian IT services group it co-founded more than two decades ago. (Reuters) * Dell Inc is preparing to tap opportunities in the healthcare sector in India, said Sid Nair, global head, healthcare and life sciences at Dell Services. (Economic Times) here * The government is set to give the domestic electronics manufacturing sector a 100 billion rupees worth of incentives, according a senior government official. (Business Standard) here AIRLINES * Kingfisher Airlines said on Tuesday it was in talks with Abu Dhabi's Etihad Airways and other investors about taking a stake in the grounded and indebted Indian carrier. (Reuters) * India's civil aviation ministry will launch an airfare monitoring unit next week, and has decided to ask domestic carriers to reduce rates and increase passenger load factor, said Civil Aviation Minister Ajit Singh. (Business Standard) AUTOS * Jaguar Land Rover (JLR) signed a preliminary deal to build a plant in Saudi Arabia, extending its expansion in fast-growing markets. (Reuters) * Maruti Suzuki is planning to set up a car assembly plant in Sri Lanka with a local partner, according to officials at the auto maker. (Financial Express) here * Maruti Suzuki India Ltd chairman R.C. Bhargava believes growth in the domestic passenger vehicle industry may languish in the single digits for the next three years. (Mint) here * Mahindra & Mahindra and premium car maker Mercedes Benz on Tuesday announced price hikes with effect from January 2013. (Economic Times) here RETAIL * India's government said it was prepared to launch an inquiry into lobbying by Wal-Mart Stores Inc., buckling under an opposition campaign to discredit a flagship economic policy. (Reuters) * Arvind Ltd will open stores for the $1.5-billion Australian surfwear brand Billabong as the Indian fashion retailer expands global alliances. (Times of India) here HEALTH CARE * Sutherland Global Services will buy a stake in healthcare-focused business process outsourcing firm Apollo Health Street from Apollo Hospitals for 10 billion rupees, said Sangitha Reddy, managing director of Apollo Health Street. (Economic Times) here * Fortis Healthcare Ltd will raise 20 billion rupees within two quarters, which will help it decrease its financial leverage substantially, said Vishal Bali, group chief executive officer of Fortis. (Business Standard) here PHARMA * India has revoked a patent granted to an asthma drug made by Schering Corp, later bought by U.S.-based Merck & Co, citing lack of invention, after Indian drugmaker Cipla Ltd challenged an earlier decision.
0 comments:
Post a Comment
Let Us Know Your Opinion!