FAIRE GROWTH MEANS..... TO MAKE GROWTH
Tuesday, March 12, 2013
12-03-2013
NW18: Stocks To Watch: Berger Paints, ITC, TCS, Power Grid Corp
NewsWire18, Tuesday, Mar 12 - Morning brief for the stock market:
.
.
BIG PICTURE
* The World Bank said India's gross domestic product would grow at 6% in
2013-14, and even higher thereafter. (var)
.
.
TOP EVENTS TODAY
.
* Index of Industrial Production for January
* CPI for Combined, Rural, and Urban for February
.
* Board Meetings of:
+ OM Metals Infraprojects, to consider interim dividend
+ Sterling Holiday Resorts India, to consider allotment of shares
.
.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 11: FII 9.88, DII (7.86)
* Institutional net buy/(sale) in bln rupees, Mar 10: FIIs 13.67
* FII NSE futures net buy/(sale) in bln rupee, Mar 11: index (0.68), shr 3.81
* Sensex 19646.21, down 37.02 points; Nifty 5942.35, down 3.35 points
* Crude: $92.06/bbl; Rupee: 54.40/$1; Gold: $1,581.80/ounce; 10-yr yld: 7.8412%
.
.
OUTLOOK
* Stock indices are seen opening up tracking positive overseas markets, but
gains may be capped ahead of India's industrial production data for January
due at 1100 IST.
.
GLOBAL STOCK MARKETS
* US: Dow Jones Industrial Average ended at an all-time high Monday as the
recent positive economic data continued to buoy sentiment.
.
* ASIA: Most indices rose today, tracking overnight gains in US equities, with
continued weakness in the yen aiding Japanese shares.
.
.
SECTOR NEWS
===========
* AUTOMOTIVE: Honda Motorcycle and Scooter India has said it would edge past
HERO MOTOCORP by 2015 to become India's leading two-wheeler seller. (ToI)
.
* AVIATION: Heads of domestic airlines have expressed inability to comply with
the Supreme Court's direction to display the number of seats at each fare level
and compressing the wide range of prices for a route. (ET)
Planning Commission Deputy Chairman Montek Singh Ahluwalia said inter-
ministerial differences would be sorted out to facilitate the formation of the
AirAsia-Tata joint venture in India. (ET)
.
* BANKING: SREI group plans to set up a bank with strong rural presence. (BS)
.
* ECONOMY: The recent changes in prices of bulk diesel and non-subsidised
cooking gas may not get reflected in the Wholesale Price Index. (NW18)
.
* COAL: International Coal Ventures is targeting coal assets in Colombia,
South Africa, and Russia. (NW18)
The government has deferred pool pricing of coal to next financial year.
(BL)
.
* EXCHANGES: The BSE's SME platform has received stronger response than National
Stock Exchange's SME exchange, as 14 companies have listed on the former as
against two on the latter. (NW18)
.
* FOREIGN INVESTMENT: CLSA Asia-Pacific Markets' Managing Director Christopher
Wood has reduced his overweight position on India citing weak GDP data, and said
the 2013-14 Budget may not encourage reforms. (BS)
The government may hike the ceiling on foreign investment in gilts and
corporate bonds by $10 bln each in a bid to cut current account deficit. (FE)
.
* MERGERS AND ACQUISITIONS: Private equity firm KKR and Co is close to buying
Warburg Pincus Llc's 80% stake in Alliance Tire Group. (Mint)
.
* PHARMACEUTICALS: A government panel studying means to make patented drugs
affordable has proposed a mechanism that will apply only to drugs bought via
public procurement and health insurance companies, leaving out three-fourths
of the population exposed to fluctuations in market price. (ET)
.
* REGULATOR: The Securities and Exchange Board of India has made it compulsory
for compliance officers to get requisite certifications to operate in the stock
markets. (FE)
.
* TELECOM: Sistema Shyam Teleservices will seek upfront adjustment of 16.26 bln
rupees in the amount it has to pay to government for spectrum in eight telecom
circles. (NW18)
The department of telecom has sought the defence ministry's approval to
classify select telecom products as "security sensitive" in the run up to
mandating 100% domestic sourcing for private sector gear procurements. (ET)
An auction for radio spectrum on the 800MHz wavelength earned the government
35 bln rupees after three rounds of bidding. (Mint)
.
* TOBACCO: West Bengal government has hiked sales tax on tobacco products by
500 basis points to 25%. (NW18)
.
.
STOCKS
======
* AANJANEYA LIFECARE: Has deferred its FCCB issue until further notice due to
hostile market conditions. (NW18)
.
* BERGER PAINTS INDIA: Arm Brushworks Paints has acquired Sherwin Williams
Paints India for an undisclosed sum through internal accruals. (NW18)
.
* BHUSHAN STEEL: Supreme Court has directed the Odisha government to maintain
status quo on applications for lease on 1,700 ha of iron-ore mines in Sundergarh
and Keonjhar districts, to which the company lays claim to. (NW18)
.
* CAIRN INDIA: The company is evaluating the possibility of taking over its
parent, the UK-based Cairn Energy. (HT)
.
* COMPUAGE INFOCOM: Has exited completely from Greenvision Technologies by
selling its equity investment. (NW18)
.
* CORE EDUCATION & TECHNOLOGIES: Moody's Investors Service has downgraded the
corporate family rating of the company to B2 from B1, with a negative outlook.
(NW18)
.
* DREDGING CORP OF INDIA: Is planning an overseas foray and has already bagged
its first contract for capital dredging in the Kanakesanturai harbour in Sri
Lanka. (NW18)
.
* ELECTROSTEEL CASTINGS: Court has placed a stay on proceedings against the
company's coal joint venture. (NW18)
.
* GREAT EASTERN SHIPPING: Has signed a contract to sell a panamax dry bulk
carrier. (NW18)
.
* GOMTI FINLEASE INDIA: Plans to invest 150 mln rupees in KDJ Hospital. (NW18)
.
* HELIOS & MATHESON: Expects consolidated revenue to grow 40% in 2012-13
(Oct-Sep) and the current growth momentum to continue for 2 more years. (NW18)
.
* HINDUSTAN ZINC: Supreme Court has ruled that the company is required to pay
royalty to the Rajasthan government only on lead or zinc extracted from ores
mined in the state and not on the entire mineral. (NW18)
.
* ITC: Five directors sold a total of 865,000 shares of the company in the
open market on Feb 28. (NW18)
.
* MAGMA FINCORP: Has sought approval of shareholders through postal ballot for
raising up to 5 bln rupees through equity or equity-linked instruments. (NW18)
.
* MAHINDRA & MAHINDRA: Godrej Industries' MD Nadir Godrej, who is also on the
company's board, on Mar 7 bought 2,000 shares at 874.83 rupees each, aggregating
to 1.75 mln rupees. (NW18)
.
* MAHINDRA LIFESPACE DEVELOPERS: Foreign institutional investors' holding in
the company touched 28.10% on Mar 8. (NW18)
.
* POWER GRID CORPORATION OF INDIA: Has approved 557 mln rupees investment for
transmission system associated with Meja thermal project. (NW18)
.
* SKS MICROFINANCE: Has paid 5 mln rupees penalty to Insurance Regulatory and
Development Authority. (NW18)
.
* SQL STAR INTERNATIONAL: Has withdrawn scheme of arrangement for compromise and
amalgamation between the company, Mind Logicx, and their respective shareholders
and creditors. (NW18)
.
* TATA CONSULTANCY SERVICES: Operating margin is likely to slip 25 basis points
in Jan-Mar on the back of a one-time lawsuit settlement of around 1.6 bln
rupees. (BS)
.
* TATA TELESERVICES MAHARASHTRA: Had total 10.49 mln subscribers as on Feb 28.
The company offers telecom products and services under the TATA DOCOMO brand.
(NW18)
.
* TYCHE INDUSTRIES: The company's unit at Kakinada has received approval from
German Regulatory Authority for 11 active pharmaceutical ingredients. (NW18)
.
* TV18 BROADCAST: US' Viacom may buy 50% stake in ETV's regional general
entertainment channels; TV18 owns the remainder. (BS)
.
* UNITED SPIRITS: The capital markets regulator has approved Diageo Plc's bid
to acquire a majority stake in the company, with the inclusion of a clause that
will allow Diageo to later sell assets of the company. (Mint)
.
* WENDT INDIA: A Bengaluru court has issued an ad-interim order of temporary
injunction preventing 3M INDIA and Precomp Gears from using the trade name
"WENDT" for branding its machine tools, abrasives, and grinding machines. (NW18)
End
.
NewsWire18, Tuesday, Mar 12 - Morning brief for the stock market:
.
.
BIG PICTURE
* The World Bank said India's gross domestic product would grow at 6% in
2013-14, and even higher thereafter. (var)
.
.
TOP EVENTS TODAY
.
* Index of Industrial Production for January
* CPI for Combined, Rural, and Urban for February
.
* Board Meetings of:
+ OM Metals Infraprojects, to consider interim dividend
+ Sterling Holiday Resorts India, to consider allotment of shares
.
.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 11: FII 9.88, DII (7.86)
* Institutional net buy/(sale) in bln rupees, Mar 10: FIIs 13.67
* FII NSE futures net buy/(sale) in bln rupee, Mar 11: index (0.68), shr 3.81
* Sensex 19646.21, down 37.02 points; Nifty 5942.35, down 3.35 points
* Crude: $92.06/bbl; Rupee: 54.40/$1; Gold: $1,581.80/ounce; 10-yr yld: 7.8412%
.
.
OUTLOOK
* Stock indices are seen opening up tracking positive overseas markets, but
gains may be capped ahead of India's industrial production data for January
due at 1100 IST.
.
GLOBAL STOCK MARKETS
* US: Dow Jones Industrial Average ended at an all-time high Monday as the
recent positive economic data continued to buoy sentiment.
.
* ASIA: Most indices rose today, tracking overnight gains in US equities, with
continued weakness in the yen aiding Japanese shares.
.
.
SECTOR NEWS
===========
* AUTOMOTIVE: Honda Motorcycle and Scooter India has said it would edge past
HERO MOTOCORP by 2015 to become India's leading two-wheeler seller. (ToI)
.
* AVIATION: Heads of domestic airlines have expressed inability to comply with
the Supreme Court's direction to display the number of seats at each fare level
and compressing the wide range of prices for a route. (ET)
Planning Commission Deputy Chairman Montek Singh Ahluwalia said inter-
ministerial differences would be sorted out to facilitate the formation of the
AirAsia-Tata joint venture in India. (ET)
.
* BANKING: SREI group plans to set up a bank with strong rural presence. (BS)
.
* ECONOMY: The recent changes in prices of bulk diesel and non-subsidised
cooking gas may not get reflected in the Wholesale Price Index. (NW18)
.
* COAL: International Coal Ventures is targeting coal assets in Colombia,
South Africa, and Russia. (NW18)
The government has deferred pool pricing of coal to next financial year.
(BL)
.
* EXCHANGES: The BSE's SME platform has received stronger response than National
Stock Exchange's SME exchange, as 14 companies have listed on the former as
against two on the latter. (NW18)
.
* FOREIGN INVESTMENT: CLSA Asia-Pacific Markets' Managing Director Christopher
Wood has reduced his overweight position on India citing weak GDP data, and said
the 2013-14 Budget may not encourage reforms. (BS)
The government may hike the ceiling on foreign investment in gilts and
corporate bonds by $10 bln each in a bid to cut current account deficit. (FE)
.
* MERGERS AND ACQUISITIONS: Private equity firm KKR and Co is close to buying
Warburg Pincus Llc's 80% stake in Alliance Tire Group. (Mint)
.
* PHARMACEUTICALS: A government panel studying means to make patented drugs
affordable has proposed a mechanism that will apply only to drugs bought via
public procurement and health insurance companies, leaving out three-fourths
of the population exposed to fluctuations in market price. (ET)
.
* REGULATOR: The Securities and Exchange Board of India has made it compulsory
for compliance officers to get requisite certifications to operate in the stock
markets. (FE)
.
* TELECOM: Sistema Shyam Teleservices will seek upfront adjustment of 16.26 bln
rupees in the amount it has to pay to government for spectrum in eight telecom
circles. (NW18)
The department of telecom has sought the defence ministry's approval to
classify select telecom products as "security sensitive" in the run up to
mandating 100% domestic sourcing for private sector gear procurements. (ET)
An auction for radio spectrum on the 800MHz wavelength earned the government
35 bln rupees after three rounds of bidding. (Mint)
.
* TOBACCO: West Bengal government has hiked sales tax on tobacco products by
500 basis points to 25%. (NW18)
.
.
STOCKS
======
* AANJANEYA LIFECARE: Has deferred its FCCB issue until further notice due to
hostile market conditions. (NW18)
.
* BERGER PAINTS INDIA: Arm Brushworks Paints has acquired Sherwin Williams
Paints India for an undisclosed sum through internal accruals. (NW18)
.
* BHUSHAN STEEL: Supreme Court has directed the Odisha government to maintain
status quo on applications for lease on 1,700 ha of iron-ore mines in Sundergarh
and Keonjhar districts, to which the company lays claim to. (NW18)
.
* CAIRN INDIA: The company is evaluating the possibility of taking over its
parent, the UK-based Cairn Energy. (HT)
.
* COMPUAGE INFOCOM: Has exited completely from Greenvision Technologies by
selling its equity investment. (NW18)
.
* CORE EDUCATION & TECHNOLOGIES: Moody's Investors Service has downgraded the
corporate family rating of the company to B2 from B1, with a negative outlook.
(NW18)
.
* DREDGING CORP OF INDIA: Is planning an overseas foray and has already bagged
its first contract for capital dredging in the Kanakesanturai harbour in Sri
Lanka. (NW18)
.
* ELECTROSTEEL CASTINGS: Court has placed a stay on proceedings against the
company's coal joint venture. (NW18)
.
* GREAT EASTERN SHIPPING: Has signed a contract to sell a panamax dry bulk
carrier. (NW18)
.
* GOMTI FINLEASE INDIA: Plans to invest 150 mln rupees in KDJ Hospital. (NW18)
.
* HELIOS & MATHESON: Expects consolidated revenue to grow 40% in 2012-13
(Oct-Sep) and the current growth momentum to continue for 2 more years. (NW18)
.
* HINDUSTAN ZINC: Supreme Court has ruled that the company is required to pay
royalty to the Rajasthan government only on lead or zinc extracted from ores
mined in the state and not on the entire mineral. (NW18)
.
* ITC: Five directors sold a total of 865,000 shares of the company in the
open market on Feb 28. (NW18)
.
* MAGMA FINCORP: Has sought approval of shareholders through postal ballot for
raising up to 5 bln rupees through equity or equity-linked instruments. (NW18)
.
* MAHINDRA & MAHINDRA: Godrej Industries' MD Nadir Godrej, who is also on the
company's board, on Mar 7 bought 2,000 shares at 874.83 rupees each, aggregating
to 1.75 mln rupees. (NW18)
.
* MAHINDRA LIFESPACE DEVELOPERS: Foreign institutional investors' holding in
the company touched 28.10% on Mar 8. (NW18)
.
* POWER GRID CORPORATION OF INDIA: Has approved 557 mln rupees investment for
transmission system associated with Meja thermal project. (NW18)
.
* SKS MICROFINANCE: Has paid 5 mln rupees penalty to Insurance Regulatory and
Development Authority. (NW18)
.
* SQL STAR INTERNATIONAL: Has withdrawn scheme of arrangement for compromise and
amalgamation between the company, Mind Logicx, and their respective shareholders
and creditors. (NW18)
.
* TATA CONSULTANCY SERVICES: Operating margin is likely to slip 25 basis points
in Jan-Mar on the back of a one-time lawsuit settlement of around 1.6 bln
rupees. (BS)
.
* TATA TELESERVICES MAHARASHTRA: Had total 10.49 mln subscribers as on Feb 28.
The company offers telecom products and services under the TATA DOCOMO brand.
(NW18)
.
* TYCHE INDUSTRIES: The company's unit at Kakinada has received approval from
German Regulatory Authority for 11 active pharmaceutical ingredients. (NW18)
.
* TV18 BROADCAST: US' Viacom may buy 50% stake in ETV's regional general
entertainment channels; TV18 owns the remainder. (BS)
.
* UNITED SPIRITS: The capital markets regulator has approved Diageo Plc's bid
to acquire a majority stake in the company, with the inclusion of a clause that
will allow Diageo to later sell assets of the company. (Mint)
.
* WENDT INDIA: A Bengaluru court has issued an ad-interim order of temporary
injunction preventing 3M INDIA and Precomp Gears from using the trade name
"WENDT" for branding its machine tools, abrasives, and grinding machines. (NW18)
End
.
Thursday, March 7, 2013
07-03-2013
NW18: Stocks To Watch: ITC, Mahindra Holidays, MCX, DLF, IL&FS Engg
.TOP EVENTS TODAY
* Board Meetings of:
+ Kesar Enterprises, to consider preference shares conversion.
+ Rasi Electrodes, to consider allotment of convertible warrants.
+ Southern Ispat and Energy, to consider raising funds.
+ Southern Petrochemicals Industries Corp, to mull issue of conv warrants.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 6: FII 5.24, DII (6.0)
Institutional net buy/(sale) in bln rupees, Mar 5: FIIs 3.04, MF (0.28)
* FII NSE futures net buy/(sale) in bln rupee, Mar 6: index 1.91, shr 6.10
* Sensex 19252.61, up 109.44 points; Nifty 5818.60, up 34.35 points.
* Crude: $90.43/bbl; Rupee: 54.72/$1; Gold: $1,574.9/ounce; 10-yr yld: 7.8601%
OUTLOOK
* Indices are likely to open on a weak note due to mixed cues from key Asian
markets, with Nifty likely to face resistance near 5850.
GLOBAL STOCK MARKETS
* US indices ended up on Wednesday, as investors cheered better-than-expected
private payrolls data for February.
* ASIA: Key equities were trading mixed and most indices witnessed profit
booking after two sessions of gains. Japan's Nikkei was up, as investors
expect Bank of Japan to adopt a reflationary monetary policy.
IPO NEWS
========
* Bothra Metals & Alloys' 4.88-mln-share issue to open on Mar 12, and close
on Mar 14. Issue price is set at 25 rupees. Shares proposed to be listed
on the BSE SME platform.
SECTOR NEWS
===========
* AVIATION: Singapore-based Tiger Airways to offer low-cost tickets from six
Indian destinations to Singapore. (NW18)
Indian skies saw air traffic fall 3.0% during 2012, and 3.8% in
January.
(NW18)
Ratan Tata has said the approval by the Foreign Investment Promotion
Board to Malaysian carrier AirAsia for taking 49% stake in a proposed
joint venture with Tata Sons would reinforce investment sentiment in
India. (NW18)
.
* ENERGY: The government has constituted a steering committee on offshore
wind energy to push development of such projects in the country. (NW18)
Oil minister has said state-owned oil-marketing companies need to be
compensated for the revenue losses incurred by them on sale of subsidised
fuels or they would end up in the red soon. (NW18)
.
* FINANCE: Everstone Capital to buy 15% stake in Hinduja Leyland Finance for
2 bln rupees. (ET)
.
* INFORMATION TECHNOLOGY: Embassy Group and private equity major Blackstone
to buy IT park in Bengaluru for 19.51 bln rupees. (ToI)
.
* PENSION FUNDS: India's pension fund regulator has allowed fund managers of
the National Pension System to invest directly in stocks. (Mint)
.
* REGULATORY: The RBI has sought complete verification of the beneficiaries'
list under the farm loan waiver scheme, with priority on areas where
indebtedness was high. (NW18)
SEBI at its board meet on Friday said it is likely to tweak preference
share norms allowing them to be listed on the stock exchanges to make
it easier for banks and companies to raise funds. (ET)
SEBI plans to shift illiquid stocks from the normal trading platform
to "call auction" system in a bid to curb share price manipulation.
ITDC, WESTLIFE DEVELOPERS, PILANI INVESTMENT are some of the likely
illiquid stocks. (ET)
.
* SPECIAL ECONOMIC ZONE: The revised special economic zone norms are likely
to be announced along with India's foreign trade policy in March. (NW18)
.
* STEEL: Rajasthan has reduced local tax on stainless steel wire and wire rod
to 5% from 14% earlier. (NW18)
.
* STOCK EXCHANGE: The Inter-connected Stock Exchange of India is looking to
sell its broking arm ISE Securities & Services and has invited bids
for the same until Mar 22. (BS)
.
* TAXATION: The government is looking to cut the withholding tax on foreign
investments in corporate bonds. (ET)
.
* TOBACCO: Rajasthan has hiked the value-added tax rate for tobacco products
to 65% from 50% in the state's Budget for 2013-14 (Apr-Mar). (NW18)
.
* TELECOM: The Empowered Group of Ministers on spectrum has decided that the
telecom department will approach the Supreme Court after the conclusion of
Mar 11 auction of 2G spectrum. (NW18)
.
.
STOCKS
======
* ABG SHIPYARD: The company and private investment fund Tano Capital to
sell Italian electric motor maker Cemp, which they acquired in 2007,
for about 3 bln rupees. (ToI)
* ADITYA BIRLA CHEMICALS (INDIA): Has commissioned commercial production of
caustic soda at its brownfield unit at Renukoot in Uttar Pradesh. (NW18)
.
* BANK OF INDIA: Has allotted 22.12 mln shares to the government on
preferential basis at 365.70 rupees a share. (NW18)
.
* COAL INDIA: Has said it may have to cut prices of its high-quality coal. (BS)
.
* DLF: Board has approved institutional placement programme and other routes
to trim its promoter stake to meet SEBI's minimum public shareholding norm.
(NW18)
.
* ELDER PHARMACEUTICALS: Is planning to set up a joint venture with Japanese
company KOSE Corp for manufacturing and selling cosmetics in India. (NW18)
.
* HINDUSTAN PETROLEUM CORP: Board has approved setting up a 9-mln-tn refinery-
cum-petrochemicals complex in Rajasthan at an investment of around 370 bln
rupees. (NW18)
The company along with Shapoorji Pallonji will set up a 50-bln-rupee
terminal on Gujarat coast to import liquefied natural gas. (HT)
.
* HOUSING DEVELOPMENT FINANCE CORP: Will raise 5 bln rupees through five-year
bullet redemption bonds. (NW18)
.
* ICICI BANK: Will this month auction 25 kg gold jewellery pledged with it
for loans to recover dues. (PTI)
.
* IL&FS ENGINEERING: SEBI has disposed off the case against a couple charged
with fraudulent trading in shares of the company. (FE)
.
* MAHINDRA HOLIDAYS & RESORTS INDIA: Promoter MAHINDRA & MAHINDRA to sell
3.4 mln shares of the company, or 4.02% stake, via an offer for sale today,
floor price for which has been set at 270 rupees per share. (NW18)
.
* MAHINDRA & MAHINDRA: Workers at Nashik unit have been on a tool-down strike
since 1800 IST on Tuesday following the suspension of the general secretary
and another leader of the labour union at the plant. (NW18)
Company's President Goenka said the current duty structure on electric
cars is quite disappointing and it may impact the company's sales volume.
(NW18)
.
* MCNALLY BHARAT ENGINEERING CO: Has issued 400 mln cumulative non-convertible
redeemable preference shares to Tata Capital Financial Services. (NW18)
.
* MULTI COMMODITY EXCHANGE: NYSE Euronext to sell 2.44 mln shares
representing
4.8% stake in the exchange via a block deal today in a price range of
1,005 rupees to 1,026 rupees per share. (var)
.
* NIMBUS PROJECTS: Is planning to buy 100% stake in a Delhi-based company and
will seek the approval of the board for the same on Mar 13. (NW18)
.
* RASHTRIYA CHEMICALS AND FERTILIZERS: Government to sell 68.96 mln shares,
or 12.5% stake, of the company through offer for sale on Friday. (NW18)
.
* RELIANCE INDUSTRIES: The Bombay High Court has disposed off the petition
filed by SEBI against the Chief Information Commissioner directing it to
disclose information regarding the 2007 insider trading in the company. (BS)
.
* ROLLATAINERS: Has entered a joint venture pact with Japan's Toyo Machine
Manufacturing Co for production of packaging-related machines and
spare parts. (NW18)
.
* TATA STEEL: Plans to raise $1 bln through overseas bond issue by March
end. (ETNow)
.
* ULTRATECH CEMENT: Has despatched 3.31 mln tn cement in February, 6% lower
than a year ago, while production during the month fell 4% to 3.32 mln tn.
(NW18)
End
.
Sources - Print or Web editions of:
AA--The Asian Age; BB--Bloomberg; BS--Business Standard; BL--The Hindu
Business Line; NW18--NewsWire18; DNA--Daily News and Analysis; ET--The
Economic Times; FT--Financial Times; FE--The Financial Express; FC--Financial
Chronicle; HT--Hindustan Times; IE--Indian Express; MWA--MarketWatch;
PTI--Press Trust of India; RTR--Reuters; TH--The Hindu; ToI--The Times of
India; var--various.
.
Compiled by Vidya Sreedhar, Saket Sundria, and Priyanka Salve
.TOP EVENTS TODAY
* Board Meetings of:
+ Kesar Enterprises, to consider preference shares conversion.
+ Rasi Electrodes, to consider allotment of convertible warrants.
+ Southern Ispat and Energy, to consider raising funds.
+ Southern Petrochemicals Industries Corp, to mull issue of conv warrants.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 6: FII 5.24, DII (6.0)
Institutional net buy/(sale) in bln rupees, Mar 5: FIIs 3.04, MF (0.28)
* FII NSE futures net buy/(sale) in bln rupee, Mar 6: index 1.91, shr 6.10
* Sensex 19252.61, up 109.44 points; Nifty 5818.60, up 34.35 points.
* Crude: $90.43/bbl; Rupee: 54.72/$1; Gold: $1,574.9/ounce; 10-yr yld: 7.8601%
OUTLOOK
* Indices are likely to open on a weak note due to mixed cues from key Asian
markets, with Nifty likely to face resistance near 5850.
GLOBAL STOCK MARKETS
* US indices ended up on Wednesday, as investors cheered better-than-expected
private payrolls data for February.
* ASIA: Key equities were trading mixed and most indices witnessed profit
booking after two sessions of gains. Japan's Nikkei was up, as investors
expect Bank of Japan to adopt a reflationary monetary policy.
IPO NEWS
========
* Bothra Metals & Alloys' 4.88-mln-share issue to open on Mar 12, and close
on Mar 14. Issue price is set at 25 rupees. Shares proposed to be listed
on the BSE SME platform.
SECTOR NEWS
===========
* AVIATION: Singapore-based Tiger Airways to offer low-cost tickets from six
Indian destinations to Singapore. (NW18)
Indian skies saw air traffic fall 3.0% during 2012, and 3.8% in
January.
(NW18)
Ratan Tata has said the approval by the Foreign Investment Promotion
Board to Malaysian carrier AirAsia for taking 49% stake in a proposed
joint venture with Tata Sons would reinforce investment sentiment in
India. (NW18)
.
* ENERGY: The government has constituted a steering committee on offshore
wind energy to push development of such projects in the country. (NW18)
Oil minister has said state-owned oil-marketing companies need to be
compensated for the revenue losses incurred by them on sale of subsidised
fuels or they would end up in the red soon. (NW18)
.
* FINANCE: Everstone Capital to buy 15% stake in Hinduja Leyland Finance for
2 bln rupees. (ET)
.
* INFORMATION TECHNOLOGY: Embassy Group and private equity major Blackstone
to buy IT park in Bengaluru for 19.51 bln rupees. (ToI)
.
* PENSION FUNDS: India's pension fund regulator has allowed fund managers of
the National Pension System to invest directly in stocks. (Mint)
.
* REGULATORY: The RBI has sought complete verification of the beneficiaries'
list under the farm loan waiver scheme, with priority on areas where
indebtedness was high. (NW18)
SEBI at its board meet on Friday said it is likely to tweak preference
share norms allowing them to be listed on the stock exchanges to make
it easier for banks and companies to raise funds. (ET)
SEBI plans to shift illiquid stocks from the normal trading platform
to "call auction" system in a bid to curb share price manipulation.
ITDC, WESTLIFE DEVELOPERS, PILANI INVESTMENT are some of the likely
illiquid stocks. (ET)
.
* SPECIAL ECONOMIC ZONE: The revised special economic zone norms are likely
to be announced along with India's foreign trade policy in March. (NW18)
.
* STEEL: Rajasthan has reduced local tax on stainless steel wire and wire rod
to 5% from 14% earlier. (NW18)
.
* STOCK EXCHANGE: The Inter-connected Stock Exchange of India is looking to
sell its broking arm ISE Securities & Services and has invited bids
for the same until Mar 22. (BS)
.
* TAXATION: The government is looking to cut the withholding tax on foreign
investments in corporate bonds. (ET)
.
* TOBACCO: Rajasthan has hiked the value-added tax rate for tobacco products
to 65% from 50% in the state's Budget for 2013-14 (Apr-Mar). (NW18)
.
* TELECOM: The Empowered Group of Ministers on spectrum has decided that the
telecom department will approach the Supreme Court after the conclusion of
Mar 11 auction of 2G spectrum. (NW18)
.
.
STOCKS
======
* ABG SHIPYARD: The company and private investment fund Tano Capital to
sell Italian electric motor maker Cemp, which they acquired in 2007,
for about 3 bln rupees. (ToI)
* ADITYA BIRLA CHEMICALS (INDIA): Has commissioned commercial production of
caustic soda at its brownfield unit at Renukoot in Uttar Pradesh. (NW18)
.
* BANK OF INDIA: Has allotted 22.12 mln shares to the government on
preferential basis at 365.70 rupees a share. (NW18)
.
* COAL INDIA: Has said it may have to cut prices of its high-quality coal. (BS)
.
* DLF: Board has approved institutional placement programme and other routes
to trim its promoter stake to meet SEBI's minimum public shareholding norm.
(NW18)
.
* ELDER PHARMACEUTICALS: Is planning to set up a joint venture with Japanese
company KOSE Corp for manufacturing and selling cosmetics in India. (NW18)
.
* HINDUSTAN PETROLEUM CORP: Board has approved setting up a 9-mln-tn refinery-
cum-petrochemicals complex in Rajasthan at an investment of around 370 bln
rupees. (NW18)
The company along with Shapoorji Pallonji will set up a 50-bln-rupee
terminal on Gujarat coast to import liquefied natural gas. (HT)
.
* HOUSING DEVELOPMENT FINANCE CORP: Will raise 5 bln rupees through five-year
bullet redemption bonds. (NW18)
.
* ICICI BANK: Will this month auction 25 kg gold jewellery pledged with it
for loans to recover dues. (PTI)
.
* IL&FS ENGINEERING: SEBI has disposed off the case against a couple charged
with fraudulent trading in shares of the company. (FE)
.
* MAHINDRA HOLIDAYS & RESORTS INDIA: Promoter MAHINDRA & MAHINDRA to sell
3.4 mln shares of the company, or 4.02% stake, via an offer for sale today,
floor price for which has been set at 270 rupees per share. (NW18)
.
* MAHINDRA & MAHINDRA: Workers at Nashik unit have been on a tool-down strike
since 1800 IST on Tuesday following the suspension of the general secretary
and another leader of the labour union at the plant. (NW18)
Company's President Goenka said the current duty structure on electric
cars is quite disappointing and it may impact the company's sales volume.
(NW18)
.
* MCNALLY BHARAT ENGINEERING CO: Has issued 400 mln cumulative non-convertible
redeemable preference shares to Tata Capital Financial Services. (NW18)
.
* MULTI COMMODITY EXCHANGE: NYSE Euronext to sell 2.44 mln shares
representing
4.8% stake in the exchange via a block deal today in a price range of
1,005 rupees to 1,026 rupees per share. (var)
.
* NIMBUS PROJECTS: Is planning to buy 100% stake in a Delhi-based company and
will seek the approval of the board for the same on Mar 13. (NW18)
.
* RASHTRIYA CHEMICALS AND FERTILIZERS: Government to sell 68.96 mln shares,
or 12.5% stake, of the company through offer for sale on Friday. (NW18)
.
* RELIANCE INDUSTRIES: The Bombay High Court has disposed off the petition
filed by SEBI against the Chief Information Commissioner directing it to
disclose information regarding the 2007 insider trading in the company. (BS)
.
* ROLLATAINERS: Has entered a joint venture pact with Japan's Toyo Machine
Manufacturing Co for production of packaging-related machines and
spare parts. (NW18)
.
* TATA STEEL: Plans to raise $1 bln through overseas bond issue by March
end. (ETNow)
.
* ULTRATECH CEMENT: Has despatched 3.31 mln tn cement in February, 6% lower
than a year ago, while production during the month fell 4% to 3.32 mln tn.
(NW18)
End
.
Sources - Print or Web editions of:
AA--The Asian Age; BB--Bloomberg; BS--Business Standard; BL--The Hindu
Business Line; NW18--NewsWire18; DNA--Daily News and Analysis; ET--The
Economic Times; FT--Financial Times; FE--The Financial Express; FC--Financial
Chronicle; HT--Hindustan Times; IE--Indian Express; MWA--MarketWatch;
PTI--Press Trust of India; RTR--Reuters; TH--The Hindu; ToI--The Times of
India; var--various.
.
Compiled by Vidya Sreedhar, Saket Sundria, and Priyanka Salve
Tuesday, March 5, 2013
05-03-2013
NW18: Stocks To
Watch: RIL, GMR Infra, Bharti Airtel, Natco Pharma
NewsWire18, Tuesday, Mar 5 - Morning brief for the stock market:
BIG PICTURE
* Chidambaram says no plan to unilaterally change Mauritius tax pact (NW18)
* Parliament to mull retrospective tax when Vodafone row ends (NW18)
* Euro leaders urge for budget cuts as Italy moves closer to elections (BB)
TOP EVENTS TODAY
* Services PMI and composite PMI for February, by HSBC
* Godrej Properties to announce a new business venture
* Oct-Dec earnings to be detailed by: KS Oils, Standard Chartered
* Board Meetings of:
+ Aanjaneya Lifecare to announce opening date of FCCB issuance
+ Mukta Arts to consider forming new exhibition arm
+ Unique Organics to consider forfeiture of shares
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 4: FII (0.30), DII (1.11)
* Institutional net buy/(sale) in bln rupees, Mar 1: FIIs 9.15, MF (0.59)
* FII NSE futures net buy/(sale) in bln rupee, Mar 4: index 3.99, shr 5.71
* Sensex 18877.96, down 40.56 points; Nifty 5698.50, down 21.20 points
* Crude: $90.12/bbl; Rupee: 54.86/$1; Gold: $1,572.4/ounce; 10-yr yld: 7.8850%
OUTLOOK
* Domestic share indices are seen opening tad up on positive cues from
overseas markets.
GLOBAL STOCK MARKETS
* US equities ended slightly up on Monday due to bargain buying in select
index majors.
* Asian indices rose on hopes that central banks across the globe will
continue to provide stimulus to their respective economies to
growth.
SECTOR NEWS
===========
* AUTOMOBILES: Ford India has launched a limited edition of Figo hatchback
with the petrol version priced at 415,999 rupees ex-showroom Delhi. (NW18)
Harley-Davidson cuts prices of some of its models by 400,000 rupees;
the company plans to locally assemble three more models--Fat Boy,
Fat Boy Special, Heritage Softail Classic. (BS).
NewsWire18, Tuesday, Mar 5 - Morning brief for the stock market:
BIG PICTURE
* Chidambaram says no plan to unilaterally change Mauritius tax pact (NW18)
* Parliament to mull retrospective tax when Vodafone row ends (NW18)
* Euro leaders urge for budget cuts as Italy moves closer to elections (BB)
TOP EVENTS TODAY
* Services PMI and composite PMI for February, by HSBC
* Godrej Properties to announce a new business venture
* Oct-Dec earnings to be detailed by: KS Oils, Standard Chartered
* Board Meetings of:
+ Aanjaneya Lifecare to announce opening date of FCCB issuance
+ Mukta Arts to consider forming new exhibition arm
+ Unique Organics to consider forfeiture of shares
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 4: FII (0.30), DII (1.11)
* Institutional net buy/(sale) in bln rupees, Mar 1: FIIs 9.15, MF (0.59)
* FII NSE futures net buy/(sale) in bln rupee, Mar 4: index 3.99, shr 5.71
* Sensex 18877.96, down 40.56 points; Nifty 5698.50, down 21.20 points
* Crude: $90.12/bbl; Rupee: 54.86/$1; Gold: $1,572.4/ounce; 10-yr yld: 7.8850%
OUTLOOK
* Domestic share indices are seen opening tad up on positive cues from
overseas markets.
GLOBAL STOCK MARKETS
* US equities ended slightly up on Monday due to bargain buying in select
index majors.
* Asian indices rose on hopes that central banks across the globe will
continue to provide stimulus to their respective economies to
growth.
SECTOR NEWS
===========
* AUTOMOBILES: Ford India has launched a limited edition of Figo hatchback
with the petrol version priced at 415,999 rupees ex-showroom Delhi. (NW18)
Harley-Davidson cuts prices of some of its models by 400,000 rupees;
the company plans to locally assemble three more models--Fat Boy,
Fat Boy Special, Heritage Softail Classic. (BS).
* BANKING: Fitch Ratings has said that the issuance of new banking licences
in India is likely to be highly selective given the challenges that new
entrants face and the cautious approach of RBI. (NW18)
* DEBT MARKET: Finance Minister P. Chidambaram said Monday that the
government is examining removing the sub-limit for foreign
institutional investors in debt segment. (NW18)
* ECONOMY: Finance Minister P. Chidambaram has expressed hope of interest
rate cut but added that a final call had to be taken by the RBI governor.
(NW18)
The finance minister said India's current account deficit was "a more
worrying deficit" than the fiscal gap, making it imperative to attract
foreign inflows. (NW18)
FINANCIAL SERVICES: HOUSING DEVELOPMENT FINANCE CORP, DEWAN HOUSING
FINANCE, LIC HOUSING FINANCE, and National Housing Bank have sought RBI's
approval to raise up to $1 bln via external commercial borrowing. (NW18)
National Housing Bank aims to securitise home loan pools worth 2 bln
rupees within a month. (NW18)
* FOREIGN TREATY: Prime Minister Manmohan Singh will visit Abu Dhabi later
this month to discuss an investment protection treaty between the two
countries. (ET)
* OIL AND GAS: Arvind Mayaram, secretary, department of economic affairs,
the finance ministry said that the government could levy a cess to block
diversion of bulk diesel by companies trying to take advantage of
price arbitrage. (IE)
* PHARMACEUTICALS: The Department of Industrial Policy and Promotion plans to
extend the provision of compulsory licence beyond cancer drugs, a move that
may result in steep fall in prices of key drugs. (ET)
* ROADS: National Highways Authority of India has received 17.77 bln rupees
from the government as its share from the toll collected on national
highways for the current financial year, much lower than the 35.54 bln
rupees announced in the Budget last year. (IE)
* STEEL: India's finished steel production grew 3.1% year on year in Apr-Jan
to 64.47 mln tn, Steel Minister Beni Prasad Verma said. (NW18)
* TAXATION: India has signed an agreement with Bhutan for avoidance of
double taxation and prevention of tax evasion. (NW18)
STOCKS
======
* ADANI ENTERPRISES: Adani Agro has set a clearing price of 221 rupees per
share for its offer for sale of 8.5 mln shares of the company, which was
slightly oversubscribed. (NW18)
* BHARTI AIRTEL: Telecom Minister Kapil Sibal has given approval for imposing
a 3.5-bln-rupee penalty on the company for violating 3G licence conditions.
(PTI)
Malaysia-based Axiata has approached Bharti Airtel to buy the latter's
Sri Lanka business. (BS)
* BS LTD: Arm BS Enviro Solutions has entered into a definitive agreement to
buy 51% stake in Skywater India. (NW18)
* CORE EDUCATION AND TECHNOLOGIES: Standard & Poor's Rating Services has
placed its long-term corporate credit rating on the company in
CreditWatch with negative implications. (NW18)
* ESSAR OIL: Plans to spend around 25 bln rupees over the next year on
drilling new wells and other infrastructure to ramp up gas production from
its coal-bed methane block at Raniganj. (NW18)
* FINKURVE FINANCIAL SERVICES: Has acquired 99.99% stake in RSBL Commodities.
(NW18).
* GAMMON INDIA: In talks with investors to sell up to 24% stake in subsidiary
GAMMON INFRASTRUCTURE. (ET)
worrying deficit" than the fiscal gap, making it imperative to attract
foreign inflows. (NW18)
FINANCIAL SERVICES: HOUSING DEVELOPMENT FINANCE CORP, DEWAN HOUSING
FINANCE, LIC HOUSING FINANCE, and National Housing Bank have sought RBI's
approval to raise up to $1 bln via external commercial borrowing. (NW18)
National Housing Bank aims to securitise home loan pools worth 2 bln
rupees within a month. (NW18)
* FOREIGN TREATY: Prime Minister Manmohan Singh will visit Abu Dhabi later
this month to discuss an investment protection treaty between the two
countries. (ET)
* OIL AND GAS: Arvind Mayaram, secretary, department of economic affairs,
the finance ministry said that the government could levy a cess to block
diversion of bulk diesel by companies trying to take advantage of
price arbitrage. (IE)
* PHARMACEUTICALS: The Department of Industrial Policy and Promotion plans to
extend the provision of compulsory licence beyond cancer drugs, a move that
may result in steep fall in prices of key drugs. (ET)
* ROADS: National Highways Authority of India has received 17.77 bln rupees
from the government as its share from the toll collected on national
highways for the current financial year, much lower than the 35.54 bln
rupees announced in the Budget last year. (IE)
* STEEL: India's finished steel production grew 3.1% year on year in Apr-Jan
to 64.47 mln tn, Steel Minister Beni Prasad Verma said. (NW18)
* TAXATION: India has signed an agreement with Bhutan for avoidance of
double taxation and prevention of tax evasion. (NW18)
STOCKS
======
* ADANI ENTERPRISES: Adani Agro has set a clearing price of 221 rupees per
share for its offer for sale of 8.5 mln shares of the company, which was
slightly oversubscribed. (NW18)
* BHARTI AIRTEL: Telecom Minister Kapil Sibal has given approval for imposing
a 3.5-bln-rupee penalty on the company for violating 3G licence conditions.
(PTI)
Malaysia-based Axiata has approached Bharti Airtel to buy the latter's
Sri Lanka business. (BS)
* BS LTD: Arm BS Enviro Solutions has entered into a definitive agreement to
buy 51% stake in Skywater India. (NW18)
* CORE EDUCATION AND TECHNOLOGIES: Standard & Poor's Rating Services has
placed its long-term corporate credit rating on the company in
CreditWatch with negative implications. (NW18)
* ESSAR OIL: Plans to spend around 25 bln rupees over the next year on
drilling new wells and other infrastructure to ramp up gas production from
its coal-bed methane block at Raniganj. (NW18)
* FINKURVE FINANCIAL SERVICES: Has acquired 99.99% stake in RSBL Commodities.
(NW18).
* GAMMON INDIA: In talks with investors to sell up to 24% stake in subsidiary
GAMMON INFRASTRUCTURE. (ET)
* GMR INFRASTRUCTURE:
Has entered into an agreement with FPM Power Holdings
to sell 70% stake in GMR Energy (Singapore) for Singapore $660 mln. (NW18)
* HINDUSTAN UNILEVER: Seeks to sell 25-acre land near Hyderabad. Last date to
submit bids for the same is Apr 8. (NW18)
* HINDUSTAN ZINC: Minister of State for Commerce and Industry D. Purandeswari
has urged the government not to divest further stake in the company. The
minister has alleged that Vedanta group has not paid salaries to the
employees for the past two months. (BS)
to sell 70% stake in GMR Energy (Singapore) for Singapore $660 mln. (NW18)
* HINDUSTAN UNILEVER: Seeks to sell 25-acre land near Hyderabad. Last date to
submit bids for the same is Apr 8. (NW18)
* HINDUSTAN ZINC: Minister of State for Commerce and Industry D. Purandeswari
has urged the government not to divest further stake in the company. The
minister has alleged that Vedanta group has not paid salaries to the
employees for the past two months. (BS)
* IDFC: Arm has bought assets worth 2.5 bln rupees in Pune-based Paranjpe
Schemes (Construction) Ltd's Hinjewadi special economic zone. (Mint)
* INDIAN OIL CORP: The company's 15 mtpa refinery at Paradip, Odisha is
expected to be complete by November. (NW18)
* INFOSYS: Plans to hire around 200 new employees at its Cumberland office in
Atlanta, US, in 2013-14 (Apr-Mar). (NW18)
* JET AIRWAYS INDIA: Has replaced Airbus 330-200 with the higher capacity
Airbus 330-300 on its Delhi-Toronto-Delhi route via Brussels because of
growing demand. (NW18)
* LLOYDS STEEL INDUSTRIES: Has received shareholders' approval for its
proposed conversion of preference shares held by lender IDBI BANK into
shares. (NW18)
* MAHINDRA & MAHINDRA: Group posted a consolidated net profit of 12.54 bln
rupees for the quarter ended Dec 31, up 50.8% on year. (NW18)
* MAHINDRA LIFESPACE DEVELOPERS: Foreign institutional investors' holding in
the company 28.06% on Mar 1. (NW18)
* NATCO PHARMA: The Intellectual Property Appellate Board has upheld a
compulsory licence allowing the company to manufacture and sell the
cancer drug of Bayer Corp of India. (var)
* OIL AND NATURAL GAS CORP: Defence ministry has rejected three blocks of
the company and one each of CAIRN INDIA and BG Group on the east coast
for drilling activities. (NW18)
* POLARIS FINANCIAL: Is likely to hive off its IT services and cloud
computing units in separate deals. (ToI)
* RASHTRIYA CHEMICALS AND FERTILIZERS: Expects to kick off the
41.12-bln-rupee expansion project at its Thal unit in May. (NW18)
* RELIANCE INDUSTRIES: Defence ministry has cleared the company's producing
KG-D6 block and discovered NEC-25 block in east coast for future drilling.
(NW18)
* SUZLON ENERGY: Morgan Stanley Asia has bought 145.54 mln, or 8.19%, shares
of the company from the market. (NW18)
* TATA GLOBAL BEVERAGES: Will market, package, and distribute two products of
South Indian Green Cardamom Co in India. (NW18)
* TATA MOTORS: Production of Nano at the Sanand plant in Gujarat has been
cut by over 80% to around 1,500 units a month. (FE)
* TRENT: Company's board has approved the merger of three of its arms,
Landmark, Fiora Link Road Properties, and Trexa ADMC with itself. (NW18)
* YES BANK: Foreign institutional investors cannot purchase any more shares
of the bank as the limit for FII holding in the company has reached the
cap of 49%. (NW18)
Monday, March 4, 2013
Daily Report 04-03-2013
Future Outlook: Combining the above pattern formation on different time frame it is evident that markets are in a firm bear grip. On the other hand as long as 5671 holds there is a possibility that nifty may test the resistance levels of 5870 – 5950 where gain selling is likely to emerge. We maintain our bearish view on the markets and we are of the opinion that rallies near the mentioned resistance levels above are likely to attract selling pressure.
Data Alert From Overseas -
* Europe Spanish Unemployment Change
* Europe Producer Price Index m/m
* Europe Eurogroup Meetings
* Japan Average Cash Earnings y/y
* US FOMC Member Yellen Speaks
Domestic Stock Specific News –
* Govt releases clarification on tax residency issue
* Govt source says to soon clarify on FY14 gross borrow, gilt buyback
* India Feb HSBC manufacturing PMI at 54.2 vs 53.2 in Jan
* PSU cos' Mar 1-15 subsidised fuel sale loss seen 4.32 bln rupee/day
* Deutsche Bank cuts India FY13 GDP growth forecast to 5.25% vs 5.50%
* M&M Feb total automotive sales 47,824 units, up 11%
* Maruti Suzuki Feb total sales down 8% on year at 109,567 units
* Karnataka Bank ups rates on 1-2 year deposits by 25 bps to 9.25%
* NTPC starts commercial ops of 500 MW unit of Vindhyanchal plant
*United Bank ups 1-year deposit rates by 25 bps to 9%
*Official says Bank of Maharashtra eyeing 12-bln-rupee QIP by Jun
* Atul Auto February sales 2,610 vehicles, up 4% on year
* Lupin gets US FDA nod for hypertension drug Avalide generic
* MphasiS says Hewlett Packard non-enterprise svc sales seen up 35% 2013
Macro Economic Calendar
Indian IIP Data : 12th March 2013
Indian Inflation Data :14th March 2013
Indian Monetary Policy : 19th March 2013
Data Alert From Overseas -
* Europe Spanish Unemployment Change
* Europe Producer Price Index m/m
* Europe Eurogroup Meetings
* Japan Average Cash Earnings y/y
* US FOMC Member Yellen Speaks
Domestic Stock Specific News –
* Govt releases clarification on tax residency issue
* Govt source says to soon clarify on FY14 gross borrow, gilt buyback
* India Feb HSBC manufacturing PMI at 54.2 vs 53.2 in Jan
* PSU cos' Mar 1-15 subsidised fuel sale loss seen 4.32 bln rupee/day
* Deutsche Bank cuts India FY13 GDP growth forecast to 5.25% vs 5.50%
* M&M Feb total automotive sales 47,824 units, up 11%
* Maruti Suzuki Feb total sales down 8% on year at 109,567 units
* Karnataka Bank ups rates on 1-2 year deposits by 25 bps to 9.25%
* NTPC starts commercial ops of 500 MW unit of Vindhyanchal plant
*United Bank ups 1-year deposit rates by 25 bps to 9%
*Official says Bank of Maharashtra eyeing 12-bln-rupee QIP by Jun
* Atul Auto February sales 2,610 vehicles, up 4% on year
* Lupin gets US FDA nod for hypertension drug Avalide generic
* MphasiS says Hewlett Packard non-enterprise svc sales seen up 35% 2013
Macro Economic Calendar
Indian IIP Data : 12th March 2013
Indian Inflation Data :14th March 2013
Indian Monetary Policy : 19th March 2013
