STOCK TO WATCH - MAR 15

GLOBAL MARKETS ROUNDUP 
    * Nifty futures on the Singapore Exchange is flat,
while the MSCI-Asia Pacific index, excluding Japan   
, rose 0.24 percent.                
    * Asian shares shrugged off three days of losses on Friday
as global risk sentiment was buoyed by new U.S. data overnight
suggesting a steady recovery in the world's largest economy. 
 
    * The Dow Jones industrial average extended its winning
streak to 10 days on Thursday, a string of gains last seen in
late 1996, and ended at another record high as investors were
encouraged by data showing the labor market's recovery was
improving.     
                       
    FACTORS TO WATCH     
    * India will launch a single-day share auction to sell up to
10 percent shares in state-owned National Aluminium Co
, floor price for which has been set at 40 rupees a
share,  as part of the government's divestment programme to cut
fiscal deficit. 
    * India's foreign exchange reserves data. (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
    * The Reserve Bank of India has begun a probe into
allegations that staff at Axis Bank Ltd, HDFC Bank Ltd
 and ICICI Bank Ltd adviced customers on
money laundering practices, The Economic Times reported, citing
a central bank deputy governor.
    "We are in touch with banks," the newspaper quoted Deputy
Governor Urjit Patel as saying in the sidelines of a conference.
"No show-cause notice has been sent as yet," he was also quoted
as saying. (The Economic Times) 
 
    * India's central bank opened the door on Thursday to
foreign institutional investors using investments in corporate
and government bonds as collateral in the futures and options
segment of stock exchanges. (Reuters) 
    * The Indian government stated that companies will be
allowed to invest in domestic tax free bonds where the effective
rate of returns is greater than the prevailing bank rate,
according to a circular from the Ministry of Corporate Affairs
seen by Reuters. (Reuters) 
    
    ENERGY/COMMODITIES
    * The government set the floor price for its planned share
sale in National Aluminium Co Ltd on Friday at 40
rupees per share. (Reuters) 
    * Oil and Natural Gas Corp Ltd and Oil India Ltd
 have bid for a 20 percent stake in a Mozambique oil
and gas field being offered by U.S. explorer Anadarko Petroleum
Corp and India's Videocon Group, a source directly
involved in the matter told Reuters. (Reuters) 
    * Petrol is expected to become cheaper by about 1 rupee a
litre from midnight Friday India time as state-run fuel
retailers take into account lower global crude prices during the
last two weeks, while raising diesel price by 0.50-0.60 rupees a
litre, Times of India reported citing unidentified sources.
(Times of India)
 
    * Jindal Steel and Power Ltd  is setting up
India's first coal-to-gas plant and world's largest
coal-to-liquid plant for 600 billion rupees and plans to have
the plant ready by 2019, said Ravi Uppal, managing director of
JSPL. (Financial Chronicle)
 
    * Separately, Jindal Steel and Power will set up 1,500 MW of
greenfield power plants across five African nations, Business
Line reported citing an unidentified top company executive.
(Business Line)
 

    RETAIL
    * The government is evaluating a proposal to allow up to 49
percent foreign direct investment in the business-to-consumer
e-commerce space, The Financial Express reported citing unnamed
official sources. (Financial Express)
 
    
    AUTOS
    * A U.S. district court has upheld a lawsuit filed by the
Mahindra & Mahindra Ltd's U.S. dealers against the
Indian auto maker over its plans to sell a passenger vehicle in
the U.S. market, Times of India reported without citing sources.
(Times of India)
 
     * Volvo AB  is planning to focus on the luxury
car market in India, and may consider setting up local assembly
operations, although no plans has been finalised, The Economic
Times reported citing Volvo Auto India Managing Director Tomas
Ernberg. (Economic Times)
 
   
    AVIATION 
     * In a damage-control exercise to prevent India's image
from being dented in the global market, the civil aviation
ministry may issue a guidance to release all Kingfisher Airlines
 aircraft parked at Indian airports to international
leasing companies. (Economic Times)
 
    * A day after Air India announced discounted advance
purchase fares for 60 days before the travel date, country's
second largest airline Jet Airways too jumped the
discount bandwagon by announcing a special 60 days purchase for
travel across its domestic network. (Economic Times)

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