Indian Stocks to Look for on Jan. 21

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By Naagesh N. | January 21, 2013 5:24 PM EST


* Nifty futures on the Singapore Exchange rose 0.22 percent. The MSCI-Asia Pacific index, excluding Japan

was up 0.04 percent.

* Asian shares were range-bound on Monday, taking a breather after hitting multi month highs, while the yen touched a

new low ahead of the outcome of the Bank of Japan policy meeting this week amid expectations for bold monetary easing measures.

* The Dow and S&P 500 closed at five-year highs on Friday as the market registered a third straight week

of gains on a solid start to the quarterly earnings season.


* Earnings: NTPC Ltd, Asian Paints Ltd, Cairn India Ltd, Housing Development Finance

Corporation Ltd


NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.


* State Bank of India said on Saturday that its board had approved a capital injection of 30.04 billion rupees

($558 million) by the Indian government through preferential allotment of shares in the current fiscal year. (Reuters)

* Fiscal discipline and tightening of expenditure will help meet the deficit target of 5.3 per cent of GDP, a top finance

ministry official has said. (Economic Times) here

* L&T Finance is in advanced stages of negotiations to buy Morgan Stanley's wealth management business in India,

said a person familiar with the matter. (Business Standard) here


* Reliance Industries Ltd posted its first profit increase after four quarters of declining returns, buoyed by

improving margins in its core oil refining business.(Reuters)

Separately, Reliance Industries plans to consolidate all its retail units under a single entity, a person with the direct

knowledge of the development said.(Economic Times) here

* ONGC Videsh Ltd, the foreign investment arm of Oil and Natural Gas Corp Ltd, has discovered oil on an

onland block, CPO-5, in Colombia, it said in a statement on Sunday. (Business Standard) here

* Reliance Industries has requested the Bombay High Court to defer its proceedings on a writ petition filed by SEBI against a

November order by the Central Information Commission (CIC) till proceedings before the Delhi High Court in the matter are heard

and disposed. (Business Standard) here

* Global prices for liquefied natural gas are rising toward record highs this year, and countries such as Brazil, Argentina,

China and India that rely on short-term deals that could face the biggest hit. (Reuters)


* Ultratech Cement Ltd said October-December net profit fell 3 percent to 6.01 billion rupees from a year ago.


* A core group of lenders asked Kingfisher Airlines Ltd to infuse at least 8 billion rupees ($148.66 million)

into the carrier before the banks considered any further loan recast and the extension of a no-objection certificate,

according to two senior bankers. (Mint) here

* Boeing Co. is liable to compensate state-run Air India for the grounding of 787 Dreamliner passenger

jets on safety issues, Indian aviation minister Ajit Singh told reporters on Friday. (Reuters)


* In 2013 software outsourcing deals worth nearly $50 billion are coming up for renewal, setting up a potentially

fierce fight for contracts. (Economic Times) here

NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.

($1 = 53.8150 Indian rupees)

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