STOCK TO WATCH - FEB 21

GLOBAL MARKETS ROUNDUP    
    * Nifty futures on the Singapore Exchange down 0.56 
percent. The MSCI-Asia Pacific index, excluding Japan  
 fell 1.27 percent.          
    * Asian shares fell and the Australian dollar eased on
Thursday as risk sentiment was shaken by talk in global markets
overnight that a hedge fund had been liquidating large positions
in commodities, as well as worries the Federal Reserve could
slow its bond buying programme.   
    *  U.S. stocks fell the most in three months and a key gauge
of market volatility spiked on Wednesday after minutes from the
U.S. Federal Reserve's most recent meeting suggested the central
bank may slow or stop buying bonds sooner than expected.   
  
     FACTORS TO WATCH
    * The budget session of Indian parliament begins.
        
    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
    * India's auction of quotas allowing foreign investors to
buy bonds attracted solid demand, reflecting expectations that
the central bank will cut interest rates and that the government
will deliver a fiscally disciplined budget. (Reuters)
 
    
    FINANCIAL/REGULATORY
    * U.S. private equity firm TPG Capital is to sell
part of its stake in Indian commercial vehicle financier Shriram
Transport Finance Co Ltd to raise about $300 million,
according to a term sheet seen by Reuters. (Reuters)
 
    * The Comptroller and Auditor General (CAG) has said in a
draft report that there were serious irregularities, flouting of
government norms and undue financial benefits to the private
player in the Delhi airport Metro link. (Times of India)
link.reuters.com/fuk26t
        
    ENERGY/COMMODITIES
    * State-run Oil and Natural Gas Corp, along with
Bharat Petroleum Corp and Mitsui Group of Japan, will
invest about $1 billion (approximately 54 billion rupees) to set
up a five-million tonne (mt) liquefied natural gas terminal
(LNG) in Mangalore. (Business Standard)
link.reuters.com/juk26t
   * The newly constituted cabinet committee on investment (CCI)
granted its first big-ticket approval, clearing the 120 billion
rupees North Karanpura power project of NTPC that had
been stranded for more than a decade as power and coal
ministries bickered over its location. (Economic Times)
link.reuters.com/xek26t
    * Oil and Natural Gas Corp's over 80 billion
rupees development of western offshore B-193 cluster fields will
be completed this year that will add 28,000 barrels per day to
peak oil production. (Press Trust of India in Economic Times)
link.reuters.com/guk26t    
    
      INFRASTRUCTURE
    * Jaiprakash Power Venture raised 9.5 billion
rupees in the largest primary issue in the power sector in
nearly three years through a qualified institutional placement
of shares. (Economic Times)
link.reuters.com/vek26t
    * The Ruia family, promoters of Essar Ports and
Essar Shipping, is planning to start offloading their
stake in the respective companies in order to comply with the
requirement of Securities and Exchange Board of India (Sebi)
requirement of maximum 75 percent holding in companies, senior
company officials told Financial Chronicle. (Financial
Chronicle)
link.reuters.com/zek26t
   
     AVIATION
    * The war over air fares intensified with all Indian
airlines competing with each other to offer low ticket prices,
as Air India also jumped into the fray. (Press Trust of India in
Economic Times)
link.reuters.com/buk26t
       
    IT
    * Wipro is said to be contemplating laying off
several hundred people in Wipro Infotech's business solutions
division. This is because their work overlaps with those in a
similar practice area in Wipro Technologies, three people
familiar with the development said. (Times of India)
link.reuters.com/wek26t
    
    TELECOMS
    * India's two biggest mobile phone operators, Bharti Airtel
Ltd and Vodafone India, challenged in court a
government move to auction airwaves in a band they already use.
(Reuters)

Posted in: STOCKS TO WATCH