Indian Stocks to Look Out for on Jan 30

January 30, 2013 12:46 PM IST

GLOBAL MARKETS ROUNDUP        

* Nifty futures on the Singapore Exchange rose 0.21 percent. The MSCI-Asia Pacific index, excluding Japan

was up 0.6 percent.

* Asian shares gained on Wednesday ahead of domestic corporate earnings reports and the U.S. Federal Reserve's

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monetary policy decision due later in the session, while taking comfort from improving global economic prospects.

* U.S. stocks advanced on Tuesday, led by defensive sectors, in a sign the cash piles recently moving into the market are

being put to use by cautious investors to pick up more gains.

FACTORS TO WATCH

* Reserve Bank of India's conference call with economists and analysts (0900 GMT)

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

* Indian finance minister P. Chidambaram said on Tuesday he saw no reason why companies that fulfill all central bank

criteria should be denied banking licenses as part of plans to shake up the country's bank sector. (Reuters)

* The finance ministry is considering amending the income-tax act empowering the tax authorities to spare companies

from paying penalty as well as interest on taxes levied on indirect transfer of Indian assets through sale of shares

abroad, senior officials in the tax department said. (Economic Times)

here

* Public sector companies such as NMDC Ltd and Coal India Ltd will use a portion of their cash pile

to pick up stakes in public sector companies slated to hit the market with share sales, company officials told The Financial

Express newspaper. (Financial Express)

here

ENERGY/COMMODITIES

* Reliance Industries Ltd will look to bring down the proportion of bank debt to its overall borrowings to about

half from the current 80 percent, while increasing its reliance on public market debt and funding from export credit agencies, a

senior company executive said on condition of anonymity. (Mint)

here

TELECOMS

* Idea Cellular Ltd reported a smaller-than-expected 14 percent increase in quarterly profit as

higher network operating costs ate into margin. (Reuters)

* India's finance minister P. Chidambaram said he is confident that a $2.6 billion tax dispute with Vodafone

would be settled, telling the Financial Times that a third round of talks will be held this week. (Reuters)

PHARMA

* Glenmark Pharmaceuticals Ltd October-December net profit up over four-fold to 2129.2 million rupees from 448.2

million rupees a year ago. (Reuters)

CONSTRUCTION/INDUSTRIALS

* Crompton Greaves Ltd reported an October-December net loss of 1.89 billion rupees versus a net

profit of 771.4 million rupees a year ago. (Reuters)

LOGISTICS

* Blue Dart Express Ltd's October-December net profit doubled to 450.1 million rupees from 223.8 million rupees

a year ago. (Reuters)

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

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