Indian Stocks to Watch Out for on Dec. 17

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December 17, 2012 4:19 PM EST


* Nifty futures on the Singapore Exchange fell 0.27

percent. The MSCI-Asia Pacific index excluding Japan

was down 0.3 percent.

* U.S. stocks fell on Friday as another slide in Apple

took a toll and investors unloaded some shares because

of the uncertainty surrounding the "fiscal cliff" negotiations.

* The Liberal Democratic Party of Japan's electoral triumph

propelled the yen to a 20-month low against the dollar

and saw the Nikkei stock average touch a 8-1/2-month

high on expectations of much better export earnings.


* Raghuram Rajan, chief economic adviser at India's ministry

of finance, to address conference on the economy of South Indian

state of Tamil Nadu. (1030 IST/0500 GMT)


For additional press items double click

NOTE: Reuters has not verified third-party stories and does not

vouch for their accuracy.


* India will speed up the sale of stakes in state companies

to revive the stock market and will push ahead with reforms

aimed at spurring an investment recovery in the flagging

economy, Prime Minister Manmohan Singh said on Saturday.



* The oil ministry may raise prices of diesel by 1 rupee a

litre or that of cooking gas by 100 rupees to neutralise the

impact of its plan to increase the supply of subsidised

cylinders to households, said government officials who requested

anonymity. (Economic Times)


* Oil companies have been told by the finance ministry to

coordinate with the Reserve Bank of India before stepping out to

buy dollars, according to a person who attended the meetings.

(Economic Times)


* A government-appointed panel has recommended the end of

the controversial system in which oil firms recover their costs

from sale of oil and gas in all future contracts and suggested a

transparent structure for sharing the output between the

government and the contractor. (Economic Times)


* Reliance Industries and its partner BP

have shut a seventh well in the D6 block off the country's east

coast due to sand and water ingress, bringing down the number of

producing wells to 11, a source with direct knowledge of the

matter said. (Reuters)

* Coal India's output dipped about 2 percent in

November from a year ago due to cyclone Neelam and holidays on

account of festivals, according to its chairman. (Economic



* The government plans to ask state power utilities to sell

surplus land or carbon credits to raise funds and be eligible

for the 1.9 trillion rupees debt restructuring package, an

unidentified power ministry official was quoted as saying by The

Economic Times. (Economic Times)



* Life Insurance Corp is selling shares this year, booking a

110 billion rupees profit, to bid for shares in upcoming

government sales of companies, said two persons familiar with

the thinking. (Economic Times)



* Infosys said on Friday it settled a lawsuit

filed by former employee Satya Dev Tripuraneni. (Reuters)

* Non-traditional markets such as Japan, China and Korea

will drive HCL Technologies' next wave of growth, its

chairman Shiv Nadar said. (Economic Times)



* The department of telecom is considering a demand by

India's top three mobile phone companies -- Bharti Airtel

, Vodafone and Idea Cellular -- to allow GSM

operators to bid for unsold CDMA spectrum in the 800 MHz band

which saw no takers in the recent auction. (Economic Times)


* Bharti Infratel's share sale to raise up to $830 million

was subscribed 1.3 times, a weaker-than-hoped for response to

the country's biggest initial public offering in two years.



* Etihad Airways will decide this week whether to invest in

Jet Airways or Kingfisher Airlines, according

two persons familiar with development who requested anonymity.




* Workers at the Gurgaon plant of Hero MotoCorp

are demanding a three-to-four times increase in their wages,

unidentified sources were quoted as telling ET Now. (Economic



* Renault's move into low-cost cars plans to

devise a cheap vehicle programme for India that can compete with

such champions of frugality as Maruti Suzuki and

Hyundai. (Reuters)


* French warship maker DCNS will buy close to 15 percent

stake in Nikhil Gandhi-promoted shipbuilder Pipavav Defence &

Offshore Engineering for about 13.5 billion rupees,

according to people close to the development. (Economic Times)



* Fortis Healthcare will sell its majority stake

in Dental Corporation Holding, a dental care company in

Australia and New Zealand, for around 15.55 billion rupees

($285.06 million) to UK's Bupa Ltd and will use the sale

proceeds to pare debt, according to a statement. (Economic



NOTE: Reuters has not verified third-party stories and does not

vouch for their accuracy.

($1 = 54.5500 Indian rupees)

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