GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange fell 0.2 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.3 percent. * Asian shares edged higher on Friday, recouping the previous day's steep losses, as investors reassessed the Federal Reserve's commitment to its current accommodative policy while weak U.S. and European data clouded growth prospects. * U.S. stocks fell for a second straight day on Thursday and the S&P 500 posted its worst two-day loss since November after reports cast doubt over the health of the U.S. and euro-zone economies. FACTORS TO WATCH * Foreign reserves, bank lending (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. FINANCIAL/REGULATORY * India plans to raise about $880 million next month cutting its stakes in Steel Authority of India Ltd and National Aluminium Co Ltd, sources with direct knowledge of the matter said. (Reuters) * India's austerity push in a budget to be unveiled on Thursday threatens to have the unintended impact of adding to inflationary pressure, hampering chances for rapid interest rate cuts that the government wants, central bank officials told Reuters. (Reuters) * The Reserve Bank of India has softened its stance on allowing real estate firms and brokerages to apply for banking licences, said sources familiar with the developments. (Business Standard) here * South African insurance group Sanlam has acquired a further 3.7 percent in Shriram Transport Finance Co Ltd for nearly 1 billion rand ($113 million), raising its stake to about 10 percent. (Reuters) ENERGY/COMMODITIES * Gujarat Gas Co Ltd said October-December net profit more than doubled to 701.2 million rupees from 246.5 million rupees a year ago. (Reuters) * Essar Steel, one of the largest private steel makers by assets, is raising $1.1 billion to fund its capital expenditure and refinance high cost domestic debt, Bankers who have financed Essar Steel projects said. (Financial Chronicle) here RETAIL * The government will address the clause which requires foreign multi-brand retailers to compulsorily source 30 percent of the value of their manufactured products from small and medium enterprises, India's Commerce Minister Anand Sharma told Financial Express. (Financial Express) here * Imax Corp, a maker of movie cameras and projection equipment for giant screens, plans to open 10 to 15 theaters each in Brazil and India as it seeks growth in emerging markets, its chief executive told Reuters. (Reuters) IT * A former Infosys Ltd executive is challenging the IT outsourcing industry's billing model by charging for results instead of basing fees on the time and labour put in by the armies of staff working for India's big firms. (Reuters) TELECOMS * Sistema said on Thursday that its Indian mobile phone unit would cease operations in almost half its regions as it prepares to bid in a spectrum auctions re-run. (Reuters) AUTOS * Tata Group and AirAsia Bhd may jointly build Tata Motors Ltd' low-cost vehicles in Malaysia, three people familiar with the development said. (Mint) here * Proxy advisory firm Institutional Investors Advisory Services has opposed the proposed appointment of the son of the chairman of TVS Motor Co Ltd to the board of directors at the motorcycle maker. (Business Standard) here * Nissan Motor Co and Renault SA will invest about 30 billion yen ($320 million) in a new car assembly plant in India, the Nikkei said. (Reuters) AIRLINES * The sudden display of caution by Etihad Airways over taking a stake in Jet Airways is the legacy of a string of failed forays by Gulf investors into India. (Reuters) * Fresh hurdles have emerged in the way of the Naresh Goyal-promoted Jet Airways' deal with Etihad Airways, with the Abu Dhabi-based airline putting a host of conditions, Business Standard reported, citing sources close to the deal. (Business Standard) her
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