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Indian stocks to watch-Oct 9

GLOBAL MARKETS ROUNDUP

* Nifty futures on Singapore Exchange

rose 0.7percent, while the MSCI-Asia Pacific index excluding Japanrose 0.6 percent.

* U.S. stocks slipped in light trading on Monday, pullingback from recent five-year highs ahead of an earnings seasonexpected to be weak.

* Asian shares rose on Tuesday but were capped by concernsover global growth prospects, especially in the world'ssecond-biggest economy China, and expected weak U.S. corporateearnings.

FACTORS TO WATCH

* U.S. Treasury Secretary Timothy Geithner, Fed Chairman BenBernanke start a two-day visit to India

* India civil aviation minister at Economic Editors'conference. (0600 GMT)

* India Power Minister to address press at Economic EditorsConference. (0830 GMT)

* India oil minister and company officials at EconomicEditors Conference. (0930 GMT)

INDIAN STOCKS TO WATCHNOTE: Reuters has not verified third-party stories and does notvouch for their accuracy.

TOP NEWS

* The IMF sharply lowered its forecasts for India andpredicted "less buoyant" growth in the near- and medium-term forAsia as a whole, cautioning any cool down in China's investmentsurge will add to the drag on regional and German manufacturers.(Reuters)

TELECOMS

* Long-established Indian mobile operators face a totalsurcharge of at least 270 billion rupees ($5.2 billion) tocontinue using the airwaves. (Reuters)

FINANCIAL

* Indian companies directly invested $1.4 billion overseasin September, lower than $1.9 billion a month ago, data from thecentral bank showed on Monday. (Reuters)

* Fitch Ratings says in a new report it expects Indian banksto face sustained asset quality weakness over the next fewquarters although most have a reasonable buffer to withstandincreased stress.

* Bank of Barodaand Punjab National Bank

on Monday announced a reduction in home loan rates and a waiverin processing fees on retail loans, a move aimed at growingtheir retail book at a time when there is poor demand for loansfrom corporates. (Economic Times)

* The private equity arm of Standard Chartered Plc

has invested $32 million in India's Varun Beverages, thecompanies said in a joint statement. (Reuters)

* Blackstone Group

has paid $100 million for a 12.5percent stake in India's International Tractors Ltd (ITL), itsaid on Monday, in a bet on the modernisation of India's farms.(Reuters)

ENERGY/COMMODITIES* Reliance Industries'

key gas producing fieldsoff India's east coast could be exhausted in five years, MorganStanley analysts said in a report. (Reuters)

* Reliance Industries has scaled down investment on theflagging gas fields in KG-D6 block by almost $3 billion to $5.92billion on back of an unexpected drop in reserves, sources withdirect knowledge of the development said. (Economic Times)

* NMDC

decided to cut iron ore prices by up to 11per cent for October, said chairman C S Verma. (Press Trust ofIndia via Business Line)

* Tata Steel Ltd

is strengthening domesticoperations to beat the slowdown in Europe and other developedmarkets that's been exacerbated by the slump in Chinese demand,said CFO said Koushik Chatterjee. (Mint)

* State oil firms have slashed petrol rates marginally by 56paise per litre because of significant appreciation in the rupeeagainst dollar and softening of international oil prices.(Economic Times)

* Petronet LNGhas allowed gas firm GAIL

to use annually 2.5 million tonnes capacity at Petronet'sliquefied natural gas (LNG) plant at Dahej in western India forimporting the fuel, its chief executive A. K. Balyan said onMonday. (Reuters)

* India's Aban Offshore

said it got a three-yearcontract from Petronas Carigali, with estimated revenues atabout $152.75 million. (Reuters)

* Neyveli Lignite

said it entered a 51:49 jointventure with Uttar Pradesh Rajya Vidyut Utpadan Nigam to set upa 1980 mw coal-based thermal power project in Uttar Pradesh.(Reuters)

* New Delhi's power regulator DERC started a process toadjust the tariff structure to bring down monthly bills oflow-end consumers by up to 18 percent. (Economic Times)

AIRLINES* Air India

is awaiting approval from thegovernment for a 74-billion-rupee ($1.4 billion) bond sale,Chairman Rohit Nandan said on Monday. (Reuters)

INFRASTRUCTURE

* The government is hopeful of garnering about 1 trillionrupees investment in the highways sector through electronictendering of projects, Road Transport and Highways Minister C PJoshi said. (Economic Times)

* The government is planning to build 10-15 greenfieldairports and modernising 50 others in the non-metro cities overthe next few years. (Economic Times)

RETAIL

* IKEA pushed ahead on Monday with a plan to open its firststores in India following the relaxation of rules on sourcingfrom local suppliers. (Reuters)

* Liquor barons Vijay Mallya and Kishore Rajaram Chhabriaagreed on an out-of-court settlement on Monday to end theircorporate dispute over ownership claims of Officer's Choice, thelargest selling whisky brand in India. (Times of India)

* The Finance Ministry will soon take up the proposal ofUK-based footwear and accessories retailer Pavers England, whichhas proposed to invest 1 billion rupees to set up single brandretail stores in India. (Economic Times)

* The Reserve Bank of India is open to looking at increasingthe limit on international e-commerce transactions currently setat $3,000, a top official said. (Economic Times)

* VLCC is buying Malaysian counterpart Wyann Internationalin a 1-billion rupees -plus deal that will give it access toSoutheast Asian market and Asia rights for American cosmeticsbrand Skin Nutrition, two officials with direct knowledge of thedevelopment said. (Economic Times)

AUTOS

* Logistics operations and production at the plant of theIndian unit of Hyundai Motor

were hit following astrike by workers of TVS Logistics Services, which handles thecar manufacturer's logistics, according to union sources.(Business Line)

IT

* Raising its concerns over visa problems being faced by ITprofessionals in the UK, India said the proposed visa measuresby Great Britain may affect profitability and competitiveness ofIndian companies. (Economic Times)

HEALTHCARE

* Apollo Health and Lifestyle Ltd, a unit of India's largesthospital chain Apollo Hospitals

, plans to spend 2.5billion rupees over the next three to five years to drive afive-fold increase in the number of its branded healthcareclinics, said AHLL marketing head Ravindra Pai. (Mint)

* Panacea Biotec

is betting big on hospitals andmay tap private equity funding for expansion, said Rajesh Jain,joint managing director. (Business Standard)

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

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

* Euro on defensive as Spain aid seen in limbo

* Oil dips on growth concerns; Middle East fears support

* Foreign institutional investor flows

* For closing rates of Indian ADRs

(Compiled by Manoj Rawal; 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