STOCK TO WATCH - MAR 22

GLOBAL MARKETS ROUNDUP
    * Nifty futures on the Singapore Exchange fell 0.24
percent, while the MSCI-Asia Pacific index excluding Japan   
 is up 0.06 percent.  
    * Asian shares and the euro were pressured on Friday by
fears Cyprus may default on its debt, while deteriorating euro
zone economic activity further underscored the troubles ailing
the region. 
    * U.S. stocks fell on Thursday as Oracle's revenue fell far
short of expectations and worries intensified about the effect
of Cyprus' troubles on the euro zone. 
    
    FACTORS TO WATCH
    * Steel Authority of India Ltd set the floor price
for the government's stake sale in the company at 63 rupees per
share. (Reuters) 
    * RBI Governor to speak at Banker's Club in Bangalore
    
    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 United Nations urged Sri Lanka in a resolution on
Thursday to carry out credible investigations into killings and
disappearances during its nearly 30-year civil war, especially
in the brutal final stages in 2009. (Reuters) 
    * The RBI dismissed allegations of weaknesses in compliance
of regulations by banks and said a recent undercover
investigation by a journalist did not mean there were
transactions in violation of law. The Economic Times reported,
citing deputy governor KC Chakrabarty. (Economic Times)
 
    
    ENERGY/COMMODITIES
    * Cairn India will start commercial sale of gas from an
onshore oilfield in Rajasthan to fertiliser firms in Gujarat
from this month, The Economic Times reported, citing unnamed
government and industry officials said. (Economic Times)
 
    * Sri Lanka announced plans to partially take over a
strategic oil storage depot from the Indian Oil Corp Ltd's
 local arm, Press Trust of India reported, citing
Information Minister Keheliya Rambukwella in an article carried
by The Economic Times. (PTI in Economic Times)
 
    * Moody's Investors Service has placed the "Ba1" corporate
family rating and the "Ba3" senior unsecured rating of Vedanta
Resources Plc on review for possible downgrade.
(Reuters) 

    AUTOS
    * Jaguar Land Rover Plc the luxury unit of Tata Motors Ltd
, said Thursday sales in China will not be affected by
new emissions norms in the country, Mint reported citing a
statement from the auto maker. (Mint)
 
    * The government is trying to amend the classification of
sports utility vehicles to remove some of the uncertainty about
which cars would be taxed under a recently unveiled proposal,
The Economic Times reported citing unnamed government officials.
(Economic Times)
 
    
    AIRLINES
    India has scrapped government control over the acquisition
of planes by local carriers, a government statement said,
removing a major bureaucratic hurdle for the country's airlines
in their expansion. (Reuters) 
    
    RETAIL
    * IKEA's investment proposal is expected to be
approved in a week, Times of India reported, citing Commerce
Minister Anand Sharma. (Economic Times)
 
    
    TELECOMS
    * Videocon will offer voice and data services at about 25
percent below current market rates, The Economic Times reported
citing chief executive Arvind Bali. (Economic Times)
here
    * The nine mobile phone companies whose permits were
cancelled in February 2012 could face additional 27.64 billion
rupees in charges towards airwaves they had held, The Economic
Times reported, citing a review of an internal telecom
department note. (Economic Times)
 
    
    PHARMA
    * Firms currently selling essential medicines at less than
government-mandated price caps will have to freeze rates at
existing levels and will not be given the option of matching the
higher ceiling price, The Economic Times reported citing an
unnamed government official.(Economic Times)
 
    * Nordion Inc and Dr. Reddy's Laboratories Ltd
 settled claims which is expected to result in a loss
of $1.4 million for Nordion. Details of the settlement were not
disclosed. (Reuters)

Posted in: STOCKS TO WATCH