Indian Stocks to Look for on Jan 31

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January 31, 2013 7:16 PM EST

GLOBAL MARKETS ROUNDUP         

* Nifty futures on the Singapore Exchange was flat. The MSCI-Asia Pacific index, excluding Japan was

fell 0.5 percent.

* Asian shares pulled back on Thursday from recent gains but sentiment was underpinned by optimism about global growth after

the Federal Reserve kept its stimulus policy and by signs of stabilisation in the euro zone.

* U.S. stocks fell on Wednesday after the Federal Reserve said in its latest statement that economic growth had stalled

but indicated the pullback was likely temporary.

FACTORS TO WATCH

* ICICI Bank Ltd, Bharti Infratel Ltd October-December earnings

* April-December fiscal deficit

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's central bank will base rate cut decisions on the current account position in addition to inflation, governor

Duvvuri Subbarao said on Wednesday. (Reuters)

* State Bank of India has cut its key lending rate, or base rate, by 5 basis points, R. Venkatachalam, deputy

managing director at the bank, told Reuters on Wednesday. (Reuters)

* HDFC Bank Ltd has decided to slash auto loan rates by up to 0.5 percent. (Times of India) toi.in/EvL6Zb

* India's market regulator has barred Angel Broking from taking on new customers for two weeks and set penalties on three

other small brokerages for artificially boosting trading volumes in shares of a software developer more than a decade ago.

ENERGY/COMMODITIES

* India's government does not currently plan additional taxes or curbs on imports of gold as it waits to see the impact

of recent tax hikes, a top finance ministry official told Reuters on Wednesday. (Reuters)

* The government is set to significantly cut the subsidy it offers on non-urea fertilizers for the second time in 12 months,

according to two government officials with direct knowledge of the matter. (Mint) here

* The Delhi High Court has set aside an order of the Chief Information Commission directing stock market regulator SEBI to

share details of a 2007 probe into charges of alleged insider trading involving shares of Reliance Petrochemicals, which later

merged with Reliance Industries Ltd. (Economic Times) here

* Power Finance Corp Ltd's October-December net profit rose 0.8 percent to 11.17 billion rupees from a year

ago.(Reuters)

* The Chhattisgarh government is considering scrapping Indiabulls Power Ltd's 1,320 megawatt (Mw) power

project at Bhaiyathan, a senior state government official told Business Standard on condition of anonymity. (Business Standard)

here

* India is likely to produce around 24 million tonnes of sugar in the year beginning Oct. 1, Food Minister K.V. Thomas

said on Wednesday. (Reuters)

RETAIL

* Burger King has held fresh discussions with Everstone Capital to revive its India entry plans, The Times of

India reported, citing people directly briefed on the matter, (Times of India)

toi.in/gYfyea

TELECOMS

* Vodafone India said it would challenge the upcoming spectrum auctions, and said the sale process was illegal and

discriminatory, The Economic Times reported, citing a letter sent by the company to India telecom secretary R

Chandrashekhar.(Economic Times)

here

* Indian income tax officials have sent an interim report on the tax evasion charge against the Indian unit of Nokia

to the department's headquarters in New Delhi on Wednesday, The Hindu reported citing an unidentified senior IT

official. (The Hindu) here

AUTOS

* Hyundai Motor Co will be launching an all-new compact car in India, The Economic Times reported, citing four

people close to the development. (Economic Times) link.reuters.com/tug65t

AIRLINES

* Jet Airways India Ltd has given a wage hike of up to 18,000 rupees to its around 7,500 rupees ground staff,

sources said. (Economic Times) here

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

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