GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange was 0.19 percent up. The MSCI-Asia Pacific index, excluding Japan was 0.72 percent higher. * Asian shares inched higher on Wednesday while the yen was firmer amid conflicting interpretations of G7 comments about the yen's recent weakness. * U.S. stocks closed modestly higher on Tuesday, putting the Dow within striking distance of an all-time high, as investors looked ahead to President Barack Obama's State of the Union address. FACTORS TO WATCH * India January trade data. (0530GMT) * India commerce and industry minister at IT event. (0400GMT) * Tata Consultancy Services CEO at event. (0900GMT) * Earnings: Tata Steel, Coal India Unitech, Indian Oil, BPCL. INDIAN STOCKS TO WATCH For additional press items double click TOP NEWS * India is investigating the payment of kickbacks linked to the purchase of a dozen helicopters from Italian state-controlled defense group Finmeccanica and could put off the deal, an Indian Defence Ministry official said. (Reuters) * Three brothers with family ties to a former head of the Indian air force helped to twist rules in a helicopter tender won by Italy's AgustaWestland, prosecutors alleged in an arrest warrant for a top Italian businessman. (Reuters) FINANCIAL/REGULATORY * Infrastructure Development Finance Company, one of the original promoters of National Stock Exchange (NSE), is planning to sell a slice of its stake in the country's largest bourse, said sources familiar with the matter. (Economic Times) link.reuters.com/hus85t * Finnish phone maker Nokia said on Tuesday it was protesting against a tax investigation in India, a crucial market, in the latest dispute involving a foreign company's tax. (Reuters) * Shell India described as "absurd" the demand for $1 billion in taxes on a $160 million equity infusion done by the Anglo-Dutch oil major four years ago, saying it tantamounted to tax on FDI. (Press Trust of India in Economic Times) link.reuters.com/mus85t ENERGY/COMMODITIES * Novelis Inc, the world's largest producer of rolled aluminum products, reported a quarterly profit on Tuesday after a year-earlier loss, but said production disruptions linked to a new software system held back results. (Reuters) * In a major jolt to the government's dual pricing policy on diesel, sales for bulk customers have dropped by at least 30 percent since Jan. 17, when the prices were increased. (Business Standard) link.reuters.com/wus85t * India's HPCL Dec quarter net profit fell 94.61 percent to 1.47 billion rupees from 27.25 billion rupees a year ago while net sales rose 10 percent to 527.51 billion rupees from 479.17 billion rupees a year earlier. (Reuters) * Anglo-Dutch oil giant Royal Dutch Shell's India unit plans to invest $1 billion in building a floating liquefied natural gas (LNG) terminal off Andhra coast by 2014 as it bets big on gas retailing in the energy deficit country. (Mint) link.reuters.com/nus85t AVIATION * Lenders to India's grounded Kingfisher Airlines have decided to take initial steps towards recovering $1.4 billion of loans in default after the company failed to come up with a viable funding plan. (Reuters) * State-owned Air India expects to raise around 10 billion rupees by the end of the next financial year (March 2014) through monetization of five of its prime properties across India, senior government official said. (Business Standard) link.reuters.com/zus85t AUTOS * Renault-Nissan Alliance, which was planning to utilise 400,000 units capacity by 2015, is expected to be ahead of its plans by one year and is planning to add another 300,000 units capacity for its entry level cars (Nissan) Datsun (Codenamed K2 and i2) and Renault (A Entry), which will entail an additional investment of 15-20 billion rupees, said three people in the know of the development. link.reuters.com/jus85t * Tata Motors -owned Jaguar Land Rover (JLR) reported 32 percent increase in global sales for last month at 34,877 units. (Press Trust of India in Times of India) link.reuters.com/xus85t INDUSTRIAL * State-run transport engineering consultant RITES Ltd and construction company Ircon Ltd have decided to start arbitration proceedings against Mozambique over a railway project that was taken away from them by the African nation's government in an example of the political risks of doing business in countries prone to regulatory and regime changes. (Mint) link.reuters.com/pus85t RETAIL / LEISURE * US online retail giant Amazon said on Tuesday it had asked New Delhi to consider relaxing a law that stops its Indian subsidiary from selling directly to customers. (Economic Times) link.reuters.com/kus85t MEDIA * NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.
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