Indian Stocks to Look Out for on Feb 1

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February 1, 2013 6:41 PM EST

GLOBAL MARKETS ROUNDUP          

* Nifty futures on the Singapore Exchange was down 0.1 percent. The MSCI-Asia Pacific index, excluding Japan

fell 0.07 percent.

* Asian shares wiped earlier gains on Friday as a tepid Chinese manufacturing report dented sentiment, leaving investors

on tenterhooks ahead of U.S. nonfarm payroll data due later in the day.

* U.S. stocks edged lower on Thursday on caution ahead of Friday's all-important jobs report, but the S&P 500 still

posted its best monthly gain since October 2011.

FACTORS TO WATCH

* Earnings: Bharti Airtel Ltd, Jet Airways India Ltd, Bharat Heavy Electricals Ltd and IDFC

Ltd.

* The government aims to sell about $575 million in shares sale in Oil India Ltd. The base price has been set at

a 5.6 percent discount to its share price.

* Manufacturing PMI for January. (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's fiscal deficit during the April-December period was 4.07 trillion rupees ($76.22 billion),

or 78.8 percent of the budgeted full fiscal year 2012/13 target, government data showed on Thursday. (Reuters)

* India's finance minister is putting welfare, defence and road projects on the chopping block in a last-ditch attempt to

hit a tough fiscal deficit target by March, risking short-term economic growth and angering cabinet colleagues. (Reuters)

* The Indian government is likely to raise 270 billion rupees ($5.06 billion) through the sale of its stake in

state-run companies, 10 percent lower than the initial target for the current fiscal year ending in March, Disinvestment

Secretary Ravi Mathur told reporters on Thursday. (Reuters)

* Axis Bank Ltd said on Thursday it has raised a total of 55.4 billion rupees ($1.04 billion) through the sale of

shares, in the biggest equity deal in more than a month in Asia's third-largest economy. (Reuters)

* India's central bank tightened rules on Thursday governing how banks and other financial institutions provision for

restructured loans, based on the recommendations of a panel. (Reuters)

ENERGY/COMMODITIES

* India's infrastructure sector output grew 2.6 percent in December from a year earlier, government data showed

on Thursday. (Reuters)

* ONGC Videsh Ltd is set to battle it out with Asian rivals from China and Thailand as well as some of the

biggest global names for Videocon Industries Ltd's 10 percent stake in Mozambique's Rovuma offshore block, at least

four people aware of the developments said. (Economic Times)

here

* Separately ONGC Videsh, a unit of explorer Oil and Natural Gas Corp Ltd, will launch its first overseas bond

issue in February to raise about $900 million to fund an acquisition in Azerbaijan. (Reuters)

* Reliance Industries Ltd and Essar Oil Ltd are gearing up to cater to the lucrative bulk-sales

market for diesel, where the government has allowed free-market pricing. (Economic Times)

here

* Cairn India Ltd will start the second phase of its Sri Lankan oil exploration programme this week with the

drilling of a fourth well and will decide the commercial viability of the project by 2014, a company official said on

Thursday. (Reuters)

* Shree Renuka Sugars Ltd's October-December net profit fell 39.9 percent to 175 million rupees from a year

earlier. (Reuters)

AIRLINES

* Japan's All Nippon Airways Co Ltd (ANA) has reportedly held talks with GoAir and Spicejet Ltd for

a stake purchase, sources close to the development said. (Times of India)

toi.in/-IJQGb

* Etihad Airways, which is widely expected to buy up to 24 percent stake in Jet Airways India Ltd, could get equal

board representation in the Indian company, people close to the development said. (Economic Times)

here

INDUSTRIALS

* Pipavav Defence & Offshore Engineering Co Ltd has offered to sell 26 percent of its equity and the board will

soon meet to decide on the buyer, a source involved with the negotiations said. (Business Standard)

here

* The Calcutta High Court has ordered the winding up of tyre maker Dunlop India Ltd after years of battling debts

and litigations. (Times of India)

toi.in/QS3nJZ

RETAIL

* Wal-mart Stores Inc and the U.S. government have conveyed their concern over India's move to let states decide on

the entry of global supermarkets, The Times of India reported citing unidentified sources. (Times of India)

toi.in/bTkTsa

* Trent Ltd's October-December net profit rose 48.9 percent to 209.9 million rupees from a year ago. (Reuters)

IT

* Satyam Computer Services Ltd handily beat expectations with a 20.6 percent rise in third-quarter profit

before a one-off loss. (Reuters)

PROPERTY

* Sobha Developers Ltd' October-December net profit rose 28.7 percent to 516 million rupees from a year

ago.(Reuters)

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

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