Indian stocks to watch-Jan 14

Indian inflation likely reversed direction and edged up in
December on higher food costs, a Reuters poll showed, but
economists said  declines in previous months will still give the
central bank room to cut interest rates in support of growth.
(Reuters) 

    GLOBAL MARKETS ROUNDUP         
    * Nifty futures on the Singapore Exchange rose 0.4
percent. The MSCI-Asia Pacific index, excluding Japan
 rose 0.14 percent. Ÿ
    * The yen plumbed a 2-1/2 year low against the dollar
on Monday as Japan's central bank faced relentless political
pressure to deliver bold stimulus, while Asian stocks were
subdued with Tokyo closed for a public holiday.
   
    * U.S. stocks ended little changed on Friday as investors
took a step back from buying ahead of next week's busy corporate
earnings calendar.   
    
    FACTORS TO WATCH
    EVENTS TO WATCH 
    * Wholesale price inflation data for December (0630 GMT)
[ID:
    * Tata Consultancy Services Ltd Oct-Dec earnings
        
    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.
    
    FINANCIAL/REGULATORY
    * SEBI's board will on Jan. 18 discuss a proposal to exempt
institutional investors from stumping margin money upfront to
buy shares in an offer-for-sale, according to senior government
officials and documents reviewed by The Economic Times.
(Economic Times)
here
    * The government plans to reduce service tax on insurance
premiums, protect existing policies from future tax changes, and
relax rules on tax deducted at source to encourage households
into buying more insurance cover, according to a finance
ministry official, who declined to be named. (Mint)
here
    * India has decided to formally suspend negotiations to
finalise a trade liberalisation pact with Mauritius and will not
resume talks until the island nation expedites revision of its
double-taxation avoidance agreement with India, according to a
senior official involved in the discussion. (Business Standard)
here
    * Petronet LNG Ltd said its October-December net
profit rose 8.1 percent to 3.19 billion rupees from a year ago.
 
   
    ENERGY/COMMODITIES
    * The government has decided to come out every fortnight
with one public sector company stake sale, beginning with Oil
India Ltd, according to a senior finance ministry
official, Press Trust of India reported in an article carried by
The Economic Times. (PTI in Economic Times)
here
    * The Government is likely to keep the average peak customs
duty unchanged at 10 percent for non-agricultural goods in the
forthcoming Budget, according to a commerce ministry department
official. (Business Line)
here
    * Tata Steel KZN, a subsidiary of the Indian steel maker
Tata Steel Ltd, has shut two ferrochrome furnaces in
South Africa for two months to help power utility Eskom manage a
tight electricity supply, industry sources said on Friday.
(Reuters) 
    
    AUTOS
    * Tata Motors' Jaguar Land Rover unit plans to
create 800 new jobs at its Solihull factory in central England
and said that total global sales rose 30 percent to over 350,000
vehicles. 
    & Private equity firms including Singapore state investor
Temasek Holdings and KKR & Co are separately in
advanced talks to buy Warburg Pincus LLC's majority stake in
Indian tyre maker Alliance Tire Group for about $400 million,
three sources with direct knowledge of the matter said.
(Reuters) 
    * The government may slash excise duty on small passenger
cars by 2 percent in the Union Budget in late February to boost
sagging car sales. Excise duty on small cars is 12 per cent at
present, finance ministry official privy to budget thinking
said. (Financial Chronicle)
here
    
    TELECOMS
    * India's mobile phone subscriber base declined by a net
13.63 million in November to 890.60 million, the fifth straight
monthly fall. (Reuters) 

Posted in: STOCKS TO WATCH