STOCK TO WATCH - MAR 4

GLOBAL MARKETS ROUNDUP      
    * Nifty futures on the Singapore Exchange fell 0.6
percent. The MSCI-Asia Pacific index, excluding Japan  
 fell 1.2 percent.         
    * Asian shares eased on Monday, as worries about China
tightening its grip on the property sector on the eve of the
country's annual parliamentary meetings compounded weak
sentiment already dampened by a patchy global growth outlook.  
      
    * U.S. stocks advanced modestly on Friday, leaving the S&P
500 with slight gains in a volatile week as strong
economic data overshadowed growth concerns in China and Europe
and let investors discount the impact of expected U.S.
government spending cuts.       
        
    FACTORS TO WATCH    
    * RBI officials, including Governor Duvvuri Subbarao, to
attend OECD-World Bank conference in New Delhi
    * Finance Minister P. Chidambaram addresses representatives
of industry associations
    * Tata Global Beverages Ltd news conference
    
    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 will make it easier for foreign investors to claim
tax concessions offered under bilateral tax treaties by
simplifying the process of proving residency of the country from
which the investment originates, The Economic Times reported,
citing unidentified government officials. (Economic Times)
here
    * Indian Finance Minister P. Chidambaram sought to ease
concerns it was targeting double taxation treaties on Friday,
saying a proposal that sparked alarm among foreign investors was
clumsily worded. (Reuters) 
     * Staking his credibility on meeting a deficit-cutting
target, Chidambaram is likely to be forced to scale back
spending in the upcoming fiscal year after delivering a federal
budget that makes aggressive revenue assumptions.
 
    
    ENERGY/COMMODITIES
    * India's finance minister P. Chidambaram appealed to people
not to buy so much gold as a way of reducing hefty imports,
speaking on television a day after his 2013/14 budget surprised
traders by keeping gold import duty unchanged at 6 percent.
(Reuters) 
    * Indian authorities said on Sunday they had resumed
acquiring land for South Korean steelmaker POSCO's 
planned $12 billion steel mill in Odisha state under tight
security. (Reuters) 
    * The Essar group is planning to expand its presence in the
African continent by setting up a 10-million tonne port in
Mozambique, at a cost of $275 million, Business Standard
reported without saying how it had obtained the information.
(Business Standard)
here
    * Adani Enterprises Ltd set the floor price at 220
rupees per share for a share sale by promoter Adani Agro on
Monday. (Reuters) 
    * Indian Oil Corp. raised gasoline prices by 1.40
rupees a litre, excluding local taxes from Saturday, due to
rising global prices of gasoline rupee, a company statement said
on Friday. (Reuters) 
    
    AUTOS
    * Jaguar Land Rover is investigating the potential of
manufacturing cars in India, company sources said, as the
British luxury carmaker looks to build on its growth in emerging
markets with the help of Indian parent Tata Motors Ltd
. (Reuters) 
    * Mahindra and Mahindra Ltd has opted to delay the
initial public offering of its two-wheeler subsidiary and will
instead invest 2.65 billion rupees through a rights issue, The
Financial Express reported, citing unidentified sources.
(Financial Express)
here
    * India's top car makers reported falling sales in February
as high costs and sluggish economic growth continued to weigh on
demand, threatening to result in the industry's first decline in
annual sales in a decade. (Reuters) 
    * Hero MotoCorp Ltd said February sales fell 4.2
percent to 501,271 vehicles from 523,465 vehicles a year ago.
(Reuters) 
    
    RETAIL
    * S. Kumars Nationwide Ltd plans to raise about 6 billion
rupees by selling shares of its Reid and Taylor (India) Ltd unit
through a qualified institutional placement, having put its
initial public offer plan on the back burner, according to three
investment bankers familiar with the development. (Mint)
here

    PROPERTY
    * Unitech Ltd wants to add allegations linked to
the manipulation of Libor to an existing dispute with Deutsche
Bank, in a move that could set a precedent for cases against
other banks. (Reuters) 
    * Tata Communications Ltd  plans to sell
properties across Delhi, Mumbai and Chennai to raise more than
25 billion rupees to raise capital in the wake of continuing
losses, two people with direct knowledge of the development
said. (Economic Times)
here
    
    MEDIA
    * Following the failure of the Deccan Chronicle Holdings Ltd
 to repay a term loan of 2.5 billion rupees, IDBI Bank
 has invited bids to transfer the publisher's rights on
the trademarks of four publications, according to a request for
proposal document floated by the bank on Feb. 27. (Financial
Express)
here

Posted in: STOCKS TO WATCH