Reuters: Private Equity: Indian stocks to watch-March 22

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Indian stocks to watch-March 22 Mar 22nd 2012, 03:37 Wed Mar 21, 2012 11:37pm EDT MUMBAI, March 22 (Reuters) - GLOBAL STOCK MARKETS ROUNDUP * Asian shares inched up on Thursday but remained in ranges as investors waited for manufacturing data from China and the euro zone due this session for more clues about the state of their economies. * U.S. stocks mostly fell on Wednesday, weighed by the energy services sector, but gains in technology shares buoyed the Nasdaq and helped keep the S&P 500 near four-year highs. KEY EVENTS TO WATCH * Reserve Bank of India Executive Director S. Karuppasamy will be at a banking event in Mumbai (0530 GMT) INDIAN STOCKS TO WATCH * Reserve Bank of India has said all non-banking finance companies that lend against gold collateral should maintain a loan-to-value ratio not exceeding 60 percent for loans granted against gold jewelry. * The management of German wind turbine maker REpower, owned by India's Suzlon Energy, favours floating a part of the group on the stock exchange in May or June, Germany's manager magazine reported, citing sources at the company. * The India unit of Norway's Telenor ASA has filed an application with India's top court asking it to direct the government to conduct 2G spectrum auction by June 2, said Sigve Brekke, head of Telenor's Asian operations, on Wednesday. * India's Tata Communications will recruit an extra 1,200 staff over the next 12 months in its outsourcing, sales and engineering divisions as it tries to turn around nearly three years of losses, the firm's CEO said on Wednesday. * India's GVK Power & Infrastructure Ltd is looking to sell down its stake in the Alpha coal project and related port and rail assets in Australia to help fund the A$10 billion cost of the projects, its Australia chief said on Wednesday. * The year-on-year credit growth of Indian banks was broadly in line with the Reserve Bank of India's projection of 16 percent rise in the current financial year ending March 31, data from the central bank showed on Wednesday. * Reliance Industries Chairman Mukesh Ambani has embarked on a massive restructuring of his personal investments worth billions of dollars by setting up a holding company called Reliance Industries Holding Pvt Ltd. The idea is to reduce cross holdings and streamline the portfolio of Mr Ambani, a source close to the development said. (E conomic Times) * Power Finance Corporation plans to raise about 400 billion rupees in the next financial year. ( Business Standard) * Honda Siel Cars India said it has increased prices of its vehicles by up to 93,975 rupees across all models following hike in excise duty in the Budget 2012-13. (E conomic Times) * India has proposed to halve import duties on wines and spirits bought from the European Union under the bilateral free trade agreement being negotiated between the two, but the 27-country union is demanding steeper cuts. (Ec onomic Times) * India is investigating cases of rogue Chinese companies allegedly copying trusted Indian branded products, including Onida home appliances, Boroplus antiseptic cream, and even Kama Sutra condoms and selling them in China and abroad. (Ec onomic Times) * Two private equity firms, including International Finance Corporation, are close to buying over a 15-20% stake in India's largest diagnostic chain Super Religare Laboratories (SRL) ahead of its planned public issue. (Ec onomic Times) * State-owned Bank of India announced increasing fixed deposit rates of select maturities by up to 0.75 percentage point. (E conomic Times) * KEPCO, South Korea's largest electric utility, is set to invest up to 5 billion rupees in Pioneer Gas Power, which is setting up a 388 MW gas-based power plant in Maharashtra. (Ec onomic Times) * The Aditya Birla group, which built the world's seventh-largest cement business Ultratech Cement largely through acquisitions, is in talks to buy north-eastern cement maker Adhunik MSP Cement's Meghalaya plant for over 7 billion rupees. (Eco nomic Times) * Cairn India has approached DGFT seeking permission to sell its Rajasthan crude oil to Reliance Industries' SEZ refinery at Jamnagar in Gujarat without going through state agency IOC. (Ec onomic Times) * JSW Steel said that one of its promoters, JSW Investments, has raised its stake in the company to 3.67 per cent by acquiring additional shares for 20 million rupees (Ec onomic Times) * International Coal Ventures Ltd (ICVL) is within striking distance to acquire its maiden coking coal asset abroad in Australia's Bowen Basin for about 15 billion rupees, a top official said today. (Ec onomic Times) * The Telecom Department has imposed penalties of 17.33 billion rupees and lodged police complaints in some cases on service providers for issuing mobile phone connections without proper verification. (Ec onomic Times) * Allaying fears that the ambitious food security bill may not be enacted in the next financial year due to meagre allocation for food subsidies in the Budget, the government on Wednesday said the legislation was expected to be implemented by December-end. (Bus iness Standard) * In a fresh blow to ailing state-run Air India, the cabin crew has decided to go on an indefinite strike till their salaries are paid. Pilots and cabin crew of Air India have not received their salaries for the past three months. (Ec onomic Times) * National Bank for Agriculture & Rural Development or Nabard seeks to raise its capital limit four times to 200 billion rupees as it braces for a bigger role when the government renews focuses on rural India. (Ec onomic Times) * Private equity funds Blackstone Group and Bain Capital are negotiating to buy-out the Automated Teller Machines business of Euronet Worldwide in India to benefit from the rising use of electronic transactions, said three people familiar with the discussions. (Eco nomic Times) NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy. FACTORS TO WATCH * Indian rupee report * Indian bond report * Euro nurses losses; China flash PMI in focus * Oil rises as US inventory drop offsets Saudi pledge * Global shares mix; China, euro zone PMI eyed * Wall St mostly slips, but S&P still near 4-yr highs * Foreign institutional investor flows * For closing rates of Indian ADRs Link this Share this Digg this Email Reprints

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