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Indian stocks to watch-Oct 8

Sunday, 7 Oct 2012 | 11:17 PM ET

GLOBAL MARKETS ROUNDUP

* Nifty futures on Singapore Exchange

fell 0.07 percent, while the MSCI-Asia Pacific index excluding Japan fell 0.75 percent. * The S&P 500

broke a four-day string of gains, ending slightly lower on Friday as an unexpected drop in the U.S. unemployment rate was overshadowed by concerns about the coming earnings season.

* Asian stocks edged lower on Monday and other riskier assets such as commodities fell as investors remained cautious about the outlook for the global economy and corporate earnings.

FACTORS TO WATCH

* Finance minister P Chidambaram speaks at two-day editors' conference.

* An Indian ministerial panel will meet to make its final recommendations on a plan to ask older wireless providers to pay for their existing airwave holding at a price to be derived in an upcoming 2G auction. (Starting at around 0700 GMT)

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

TOP NEWS

* India's capital markets regulator on Saturday permitted loss-making listed firms to raise funds by selling shares, making it easier for such firms to meet their capital needs. (Reuters)

* Indian banks would reduce their interest rates if the Reserve Bank of India cuts its key lending rate at its mid-term policy review on Oct. 30, the chief of an Indian banks' body assured the central bank governor on Friday. (Reuters)

* India looks set to begin dismantling a complex web of regulatory requirements that throttle its infrastructure growth, with plans to set up a special body this week to speed up projects in a sector seen as vital to reviving economic momentum. (Reuters)

FINANCIAL

* Sahara filed a petition in the Supreme Court on Friday seeking a review of the court's order asking it to refund 240 billion rupees ($4.6 billion) to investors, a lawyer for the capital markets regulator told Reuters. (Reuters) [ID: nD8E8L100J]

* India mutual funds, private equity houses and wealth managers may run into a regulatory hurdle in the United Arab Emirates after the country's Securities & commodities Authority (SCA) has instructed distributors and investment advisors to seek its approval before selling products. (Economic Times)

ENERGY/COMMODITIES

* India's Supreme Court has suspended iron ore transport in western Goa and asked for a report into illegal mining in the state in four weeks, Justice Aftab Alam said, a move that could further delay a resumption of mining and exports. (Reuters)

* Australia is close to finalise a uranium safeguards agreement with India that would allow it to sell the yellowcake to the Asian giant, Foreign Minister Bob Carr said. (Press Trust of India via The Economic Times)

* Vedanta Resources

has tied up funds to repay 95 per cent of its $4.1-billion debt, maturing in the current financial year, a company spokesperson said in an e-mailed reply. (Business Standard)

* Foreign farm equipment manufacturers are taking a closer look at the Indian market: Germany's Lemken will inaugurate a manufacturing facility at Nagpur this month, while Italy's Maschio Gaspardo recently set up its manufacturing unit near Pune. (Economic Times)

INFRASTRUCTURE

* The government is readying a blueprint to rescue the railways from long years of rampant populism by successive ministers, lining up measures to push stalled investments and increase revenues, according to officials. (Economic Times)

* Bajaj Electricals

is trimming its low-margin engineering and projects projects, said Chairman and Managing Director Shekhar Bajaj. (Business Standard)

AIRLINES

* State-run banks are likely to give grounded Kingfisher Airlines

another two months before liquidating the pledged securities, giving the airline one last chance to come back from the brink, said people familiar with the development. (Economic Times)

* Etihad Airways will look to extend its geographical reach to India and other Asian markets. (Reuters)

* Representatives from Air India took delivery on Friday of the first Boeing Co

787 Dreamliner made in South Carolina and the first manufactured outside Boeing Commercial Airplane's headquarters in Washington state. (Reuters)

AUTOS * Nissan Motor

is strengthening its R&D unit in India, with planning to potentially develop a compact car made in India, said Takayuki Ishida, managing director and chief executive of Nissan Motor India. (Business Standard)

PROPERTY * DLF

and Robert Vadraand, the son-in-law of Congress Party chief Sonia Gandhi, have denied allegations from an activist turned politician of controversial property transactions between them. (Economic Times)

TELECOMS

* The empowered group of ministers (EGoM) on telecom had taken a favourable view of a DoT (department of telecom) proposal to charge for all GSM spectrum beyond 4.4 MHz and CDMA spectrum beyond 2.5 MHz. (Business Standard)

IT * Wipro Ltd

has shelved plans to sell its water treatment business after it failed to find buyers, two people involved in the sale said. (Mint)

HEALTH CARE

* The health ministry on Sunday said it was working on a plan to make it mandatory for all private hospitals to declare and display the treatment costs of different diseases. (Economic Times)

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

OTHER FACTORS TO WATCH * Indian debt/FX factors to watch

* Dollar near 2-week high vs yen after U.S. jobs data

* Oil dips as weak global economy offsets rise in US jobs

* Foreign institutional investor flows

* For closing rates of Indian ADRs

(Compiled by Dipika Lalwani; Editing by Rafael Nam)

((rafael.nam@thomsonreuters.com)(+91-22)(6180-7425)(Reuters

Messaging: rafael.nam.thomsonreuters.com@reuters.net))

Keywords: MARKETS INDIA STOCKS/PRE OPEN

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