GLOBAL MARKETS ROUNDUP * Nifty futures on the Singapore Exchange rose 0.11 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.96 percent. * Asian shares rebounded after a sharp sell-off triggered by slumping Chinese stocks the previous session, as a globally accommodative monetary stance helped eased concerns and revived risk appetite. * U.S. stocks closed higher on Monday as investors staged a late-day rebound, extending a recent trend of buying on dips and pushing major indexes near all-time highs despite concerns about growth and China's housing market. FACTORS TO WATCH * RBI governor Duvvuri Subbarao to address the NIBM convocation. Raghuram Rajan, chief economic advisor, will deliver the convocation address. * Feb services PMI (0500 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 will issue so-called safe harbour rules by April 2013, a set of provisions that under certain conditions would enable tax authorities to accept companies' transfer pricing claims without further scrutiny, Finance Minister P. Chidambaram said on Monday. (Reuters) * India will seek parliamentary approval for amending retrospective tax rules, after it reaches an agreement with Vodafone Group Plc over a tax dispute, Finance Minister P. Chidambaram said. (Reuters) ENERGY/COMMODITIES * India is set to consider relaxing controls on the sugar industry, a minister said on Monday, as the prospect of high output this year creates the conditions for liberalisation without a sharp rise in prices. (Reuters) * The government has decided to sell 12.5 percent stake in Rashtriya Chemicals and Fertilizers Ltd to raise 3 billion rupees by March, in addition to a minority stake sale in National Aluminium Co Ltd and Steel Authority of India , people with direct knowledge of the development said. (Economic Times) here INFRASTRUCTURE * GMR Group said it would sell its 70 percent stake in the Island Power Project in Singapore to FPM Power Holdings for S$660 million ($532 million). (Reuters) * Gammon India Ltd has initiated talks with investors to sell up to 24 percent stake in its listed subsidiary, Gammon Infrastructure Projects, company executives said. (Economic Times) here AUTOS * Tata Motors said it has cut prices of its hatchbacks and sedans by 29,000-50,000 rupees ($530-$910), in a bid to lure customers to a market that is on course in the current fiscal year to post the first decline in annual sales in a decade. (Reuters) * Meanwhile Tata's unit Jaguar Land Rover plans to increase investment at its UK engine plant and double employment at the site to around 1,400, its chief executive said on Monday. (Reuters) * Mahindra and Mahindra Ltd plans to invest 7-8 billion rupees every year in new offerings in the future, Speaking at the sidelines of the new Maxximo Plus mini truck launch, said Rajan Wadhera, CEO of technology, product development & sourcing in the auto & farm sector for the auto maker. (Economic Times) here * Harley-Davidson Inc has announced that it will locally assemble three models in India. (Business Standard) here AIRLINES * AirAsia has brought forward the start of its domestic operations in India to May-June, a person with knowledge of the development said. (Economic Times) here PHARMA * An Indian patent appeals board upheld on Monday a decision to allow Natco Pharma Ltd to sell a generic version of Bayer AG's cancer drug Nexavar, in a blow for global drugmakers' efforts to hold on to monopolies on high-price medicines. (Reuters) IT * Polaris Financial Services Technology is likely to hive off IT services and cloud computing units in separate deals, while retaining the software products business, said people briefed on the matter. (Times of India) TELECOMS * Malaysia's Axiata has approached Bharti Airtel Ltd to acquire the Indian operator's business in Sri Lanka, according to people privy to the development. (Business Standard) here
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