GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange rose 0.21 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.7 percent. * Asian shares edged higher on Wednesday, buoyed by rising global equities overnight on an improving global economic outlook, while the yen resumed its decline. * U.S. stocks rose on Tuesday as this year's ongoing surge in merger activity suggested investors were still finding value in the market even as indexes closed in on all-time highs. 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 * Finance minister P. Chidambaram may stick to the initial budget estimates of fiscal deficit at 5.1 per cent for 2012/14 from the revised target of 5.3 percent, a top official involved with the exercise told Financial Chronicle without wanting to be named. (Financial Chronicle) here * Data analytics company Mu Sigma has raised money from a unit of MasterCard Inc, The Economic Times reported citing founder Dhiraj Rajaram, in a deal that values it at more than $1 billion (54 billion rupees). (Economic Times) here ENERGY/COMMODITIES * The government is considering capping its subsidy on diesel at 6 rupees per litre in 2013-14 to insulate itself from volatility in global crude oil prices, said a government official privy to the development. (Financial Express) here * Reliance Industries Ltd and BP plan joint investment of more than $5 billion over the next three to five years to boost declining output at a key natural gas field off India's east coast. (Reuters) * The Children's Investment Fund said Coal India Ltd directors are in breach of fiduciary duties by hoarding an "absurd" amount of cash. (Reuters) INFRASTRUCTURE * Binani Industries Ltd is in talks with potential financial investors and state-owned funds in the Middle East to sell up to 40 percent stake in its subsidiary Binani Cement as it seeks to raise capital to cut debt and expand cement capacities, said two persons familiar with the transaction. (Economic Times) here * Lanco Infratech Ltd has reached out to its Malaysian partner, Genting, to sell stakes in three of the Indian power generator's power plants, Business Standard reported, citing an official involved in the process. (Business Standard) here AUTOS * Tata Motors Ltd has halved production at its Jamshedpur plant and is reviewing its expansion plans as slowing economic growth has crimped demand for its medium and heavy commercial vehicles, saidRavi Pisharody, executive director of the commercial vehicles business unit. (Mint) here RETAIL * Budget fashion chain Hennes & Mauritz is applying to open stores in India, joining a rush of international retailers looking to expand in Asia's third-biggest economy on the back of government liberalisation measures. (Reuters) * Chennai-based consumer goods firm CavinKare is in talks with private equity firms Everstone Capital and ChrysCapital to raise up to 3.5 billion rupees by selling a minority stake in the company, The Economic Times reported, citing two people with direct knowledge of the development. (Economic Times) here * Future Group founder Kishore Biyani has emerged as the surprise front runner to snap up homegrown denim brand Spykar, after Avigo Capital, which has majority stake, put it on the block last year, said people familiar with the matter. (Times of India) here * Proxy voting advisory firm InGovern has recommended the shareholders of Pantaloon Retail India Ltd to vote against the resolution to split Future Ventures India Ltd and its subsidiaries into Future Lifestyle Fashion. (Business Standard) here PROPERTY * Property fund IL&FS Milestone Realty Advisors is in talks with global funds Blackstone Group, Morgan Stanley , and GIC to sell its entire stake in a Mumbai commercial project for about 10 billion rupees, The Economic Times reported citing two persons familiar with the development. (Economic Times) here
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