Indian Stocks to Look for on Jan 17

GLOBAL MARKETS ROUNDUP            

   * Nifty futures on the Singapore Exchange rose 0.33 percent. The MSCI-Asia Pacific index, excluding Japan 

 was up 0.07 percent.   

   * Asian shares consolidated on Thursday as better-than-expected U.S. earnings lifted sentiment, but


    					

            					

                					
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concerns over the global economic outlook and U.S. fiscal problem capped markets.      

   * The S&P 500 ended nearly flat on Wednesday as solid earnings from two major banks and a bounceback in Apple Inc

 shares offset concerns about a lower forecast for global growth in 2013

      

      

   EVENTS TO WATCH

    * Earnings: Hero MotoCorp Ltd, HCL Technologies Ltd 

    * The Prime Minister's Economic Advisory Council Chairman C. Rangarajan will inaugurate a trade show on banking and will give

a speech. RBI deputy governor K.C. Chakrabarty also attend.

    

    INDIAN STOCKS TO WATCH

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

    

    FINANCIAL/REGULATORY

    * Finance Minister P Chidambaram has asserted he will meet fiscal deficit targets for the current year and the next in a

meeting with state finance ministers on Wednesday. (Economic Times) here

    * Finance minister P Chidambaram also said he could give an outline of the amendments needed for the goods and services tax 

in the forthcoming budget if the states reach consensus on its design contours. (Economic Times) here

    * SEBI may ask for a compulsory audit of the accounts of important overseas subsidiaries of Indian companies as fears of

inflated profits and unreliable accounts grow in the wake of recent corporate scandals, two people familiar with the

discussions said (Economic Times) here

    * Axis Bank Ltd has picked JPMorgan Chase & Co  and Citigroup Inc for a share sale to raise up to

$1 billion, three sources with direct knowledge of the deal said on Wednesday. (Reuters) 

    * Darby Overseas Investments, the private equity (PE) arm of Franklin Templeton Investments, is set to exit from Amalgamated

Bean Coffee Trading Co Ltd and Bhoruka Power, according to sources. (Business Standard) here

    

    ENERGY/COMMODITIES

    * India is unlikely to increase import duties on edible oils, including palm oil, immediately, government sources said

on Wednesday, after speculation of an imminent rise to curb a surge in overseas purchases of cooking oils pushed futures

higher. (Reuters) 

    * Hindalco Industries Ltd plans to start its 1.5 million tonnes per annum (mtpa) alumina refinery in Odisha by

the end of March 2013, a company official said on Wednesday.(Reuters) 

    * Coal India Ltd has tied up with the U.S.-based Advance Resource International Inc to explore and identify

potential shale deposits within the company's coal blocks, said a top official of Central Mine Planning and Design Institute

(CMPDI), requesting anonymity. (Business Standard) here

    

    AIRLINES

    * Kingfisher Airlines Ltd is working out a plan to restart operations by the end of February, and the airline has

made seven small planes ready for inspection with small set of pilots retrained to support the plan, according to two airline

executives. (Mint) here

    * The aviation regulator has warned carriers not to follow SpiceJet Ltd in its special offer cutting airfare

prices, an official involved in communicating with airlines said. (Economic Times) here

    

    AUTOS

    * The workers' union at Hero MotoCorp Ltd has warned the management it will resort to strikes if a wage

negotiation isn't settled in two weeks, two people familiar with the development said. (Mint) here

    

    RETAIL

    * IKEA AB will be allowed to do business in India exactly on the lines of its global model, commerce and industry

minister Anand Sharma confirmed on Wednesday. (Indian Express) here

    

    IT

    * HCL Technologies Ltd is set to formally anoint its operations chief Anant Gupta as its new CEO within days,

said three people aware of the impending change at the country's fourth-biggest software exporter. (Economic Times)

here



    PROPERTY

    * DLF Ltd will sell its wind energy business to an unlisted firm founded by the former General Electric India boss

Tejpreet Singh Chopra for around 9 billion rupees, two people familiar with the matter said.  (Economic Times)

here



    INDUSTRIALS

    * TTK Prestige Ltd said October-December net profit rose 27.57 percent to 441 million rupees. (Reuters)

 



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