Indian Stocks to Look Out for on Jan. 18
January 18, 2013 5:30 PM EST
GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange rose 0.36 percent. The MSCI-Asia Pacific index, excluding Japan
was up 0.51 percent.
* Asian shares advanced on Friday as encouraging Chinese data confirmed a recovery was on track in the
world's second largest economy, cementing positive sentiment after global equities rose overnight.
* Stronger-than-expected data on U.S. housing starts and jobless claims lit a fire under stocks on Thursday,
pushing the S&P 500 to a five-year high and its third day of gains.
FACTORS TO WATCH
* Earnings: Reliance Industries Ltd, HDFC Bank , ITC Ltd
* Kingfisher Ltd's core lenders to meet * SEBI's board meeting
INDIAN STOCKS TO WATCH
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NOTE: Reuters has not verified third-party stories and does not
vouch for their accuracy.
* India's government told fuel retailers to raise the price of subsidised diesel in small amounts every month
starting Friday in an attempt to prop up public finances without causing a popular backlash before elections.
The government has called for increases of about 1 U.S. cent per litre each month, a source at one of the oil retailers
with direct knowledge of the development told Reuters on Thursday.
Bulk buyers will have to pay market rates for diesel, which accounts for 40 percent of fuel consumption in the country, the
source, who requested anonymity, said. (Reuters)
* India slapped a duty of 2.5 percent on imports of crude edible oils on Thursday, aiming to hold down purchases by the
world's top vegetable oil buyer after No. 2 producer Malaysia set export tax at zero in a battle for market share with rival
* Reliance Industries Ltd is yet to finalise a concrete plan of action to launch its much-hyped 4G technology
services, according to sources from the company, industry and the vendor community. (Economic Times)
* India's third stock exchange, MCX-SX, is all set to launch equity trading on its platform on Feb. 9, according to sources.
Finance Minister P Chidambaram will ring the opening bell at MCX-SX in Mumbai, government officials in New Delhi said, and
other sources said event organisers have been asked to block dates during February 8-15 to accommodate any last minute
changes in the finance minister's plan. (Business Standard) here
* The Indian affiliate of global accounting firm PricewaterhouseCoopers was questioned on Thursday by
tax authorities looking into possible tax evasion by Finnish phone maker Nokia, a spokesman for PwC confirmed.
* The Cabinet Committee of Economic Affairs on Thursday authorised the National Investment Fund to buy shares
of public sector enterprises, including banks and insurance companies.(Business Standard) here
* Wipro Ltd posted an 18 percent gain in quarterly profit, joining bigger rivals Tata Consultancy Services Ltd
and Infosys Ltd in reporting better-than-expected earnings.
* India's $100 billion IT outsourcing sector, which earns the bulk of its revenue from exports of software services, won a
long-sought and favourable clarification over the tax treatment of some of the money it earns overseas. (Reuters)
* Hero MotoCorp Ltd missed estimates for the fourth straight quarter on Thursday as net profit fell 20.4
percent on rising costs and falling sales that battered margins. (Reuters)
* Air India has closed bookings on Boeing Co
Dreamliner-operated flights "for the time being", the airline said on Thursday. (Reuters)
* The Supreme Court has asked the aviation regulator and the industry to explain the rationale of imposing charges over and
above base fares on airline passengers, appearing to disregard airlines' defence that these levies were needed to deal with
fluctuating market conditions. (Economic Times) here
* GMR Infrastructure and GVK Power & Infrastructure are walking out of road contracts as
they are unable to get funding for these projects and not because of environmental clearance or regulatory hurdles,
the National Highways Authority of India chief said. (Economic Times) here
NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.