STOCK TO WATCH - MAR 21

GLOBAL MARKETS ROUNDUP
    * Nifty futures on the Singapore Exchange gained
0.33 percent, while the MSCI-Asia Pacific index excluding Japan 
  rose 0.1 percent.    
    * Asian shares inched higher and the dollar steadied on
Thursday after the U.S. Federal Reserve maintained its
commitment to a very accommodative monetary stance, with Chinese
data helping to soothe sentiment rattled by the Cyprus bailout
wrangling.     
    * U.S. stocks climbed on Wednesday, with the S&P 500 
snapping a three-day losing streak as the Federal Reserve
reassured investors that it would keep supporting the economy. 
         
                           
    FACTORS TO WATCH 
    * RBI Governor to meet CEOs of ICICI Bank Ltd,
HDFC Bank Ltd, and Axis Bank Ltd.  
    
    INDIAN STOCKS TO WATCH
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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
   
    FINANCIAL/REGULATORY
    * The Indian government is unlikely to call a snap election
despite its biggest ally abruptly quitting the ruling coalition,
as it needs time to implement flagship welfare schemes and hopes
the economy will improve, government sources said on Wednesday.
(Reuters) 
    * India's auction of quotas allowing foreign investors to
buy bonds attracted strong demand on Wednesday, easing some of
the concerns about whether a recent sell-off in markets would
reduce demand for domestic debt. (Reuters) 
    
    ENERGY/COMMODITIES
    * The Indian government will sell 240.4 million shares, or a
5.82 percent stake, in state-owned Steel Authority of India Ltd
 through an auction on March 22, the steel ministry
said on Wednesday. (Reuters) 
    * Oil and Natural Gas Corp Ltd's unit ONGC Videsh
Ltd has signed a confidentiality agreement for the possible
acquisition of a 25-30 percent stake in four blocks in Nigeria
from Sterling Energy and Exploration Production Co (SEEPCO), The
Economic Times reported, citing a source involved in the
negotiations. (Economic Times)
here
    * Manappuram Finance Ltd said it expects a
one-time hit that will lead to a October-December loss up to 500
million rupees. (Reuters) 
    
    INFRASTRUCTURE
    * The 2 trillion rupees restructuring package to bail out
debt-ridden state electricity distribution companies has hit a
roadblock on multiple fronts and is set to miss its 31 March
deadline, Mint reported, citing an unidentified power ministry
official. (Mint)
 
   
    RETAIL
    * The government plans to significantly liberalise foreign
direct investment norms for single-brand retail, The Economic
Times reported, citing a government official privy to the
thinking of the finance ministry. (Economic Times)
 
    * Cigarettes and other tobacco products, along with some
alcohol and beer beverages are set to get more expensive in the
state of Maharashtra, according to the 2013/14 budget announced
on Wednesday. 
 

    AIRLINES
    * Air India will seek compensation in cash from
Boeing for losses caused by the grounding of its 787
Dreamliner, rather than discounts on future purchases, a senior
government source said on Wednesday. (Reuters)

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