Reuters: Financial Services and Real Estate: Indian stocks to watch-April 30

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Indian stocks to watch-April 30 Apr 30th 2012, 03:27 Sun Apr 29, 2012 11:27pm EDT MUMBAI, April 30 (Reuters) - GLOBAL MARKETS ROUNDUP * India's benchmark Index rose 0.31 percent to close at 17,187.34 points in a special 90-minute trading on Saturday after banks and realty stocks advanced. NSE's 50-shares index or Nifty rose 0.35 percent to 5,209 points. * Asian shares inched higher on Monday as weaker-than-expected U.S. growth data left open the possibility for more monetary stimulus from the Federal Reserve. * U.S. stocks advanced on Friday and posted their best weekly gains in a month as stronger-than-expected earnings from Amazon.com and Expedia Inc reinforced confidence in corporate performance. KEY EVENTS TO WATCH * Jan-March results of Oriental Bank of Commerce, Bank of India, Dabur India, Godrej Consumer Products, Exide Industries, Titan Industries , United Phosphorus. * Prime Minister Manmohan Singh calls a meeting of his ministers to sort out differences over exports of some farm commodities such as sugar and cotton. * India's Telecom Commission, the highest decision-making body within the telecoms ministry, meets on Monday to discuss various matters including guidelines for a 2G spectrum auction. * India's infrastructure output for March. (0630 GMT) INDIAN STOCK TO WATCH FINANCIAL * Schroders Plc is buying a 25 percent stake in India's Axis Asset Management Co, aiming to tap into growing business opportunities in Asia's third-largest economy and meet demand for financial products from its burgeoning middle class. * Yes Bank has set a target of achieving a balance sheet size of 1.5 trillion rupees by the turn of 2015. (Economic Times) AUTOS/INDUSTRIAL * India's Maruti Suzuki said net profit fell to a better-than-expected 6.40 billion rupees in the January to March quarter from 6.80 billion rupees a year earlier and forecast a return to double-digit sales growth. * Mahindra & Mahindra is gearing up to introduce sports utility vehicle XUV500 in Italy, Australia and Chile soon. (Economic Times) In other news, the company has proposed to invest 30 billion rupees to set up a manufacturing plant in Uttarakhand, according to the state government. (Economic Times) * German auto component maker Robert Bosch is expanding the manufacturing capacity of critical components for diesel vehicles by 30-50 percent to cash-in on the growing demand of diesel vehicles in India. (Economic Times) * Dunlop India Ltd and Falcon Tyres Ltd -two tyre makers controlled by the Kolkata-based Ruia Group-are converting loans to issue shares amounting respectively to 41 percent and 56 percent stakes to three firms. (Mint) * Hindustan Construction Company's Swiss subsidiary Steiner AG is likely to make a foray into the Indian market this year. (Financial Chronicle) * India Cements Ltd plans to invest around 7.50 billion rupees in one of its factories in Tamil Nadu.(Business Standard) COMMODITIES/ENERGY * India's Jindal Steel & Power Ltd plans to spend about 100 billion rupees ($1.9 billion) on capital expenditure in the fiscal year that started in April, Sushil Maroo, group chief financial officer, said on a conference call. * Vedanta group company Sesa Goa expects to sign soon a memorandum of understanding with the Jharkhand government for a 1.5-million-tonne steel plant in the state, a company official has said. (Economic Times) * Steel tycoon Lakshmi N Mittal and Hindustan Petroleum Corp Ltd may sell a part of their stake in Bhatinda Refinery through an initial public offering (IPO) soon. (Economic Times) * South Korean steel major Posco has sounded out unlisted Essar Steel for an alliance to build the planned $12 billion (12 million tonnes) steel plant in Orissa, which has run into repeated hurdles. (Financial Express) * Indian wind turbine maker Suzlon Energy is working with international banks to raise between $300 million and $500 million in overseas bonds to repay debts due this year, its group chief financial officer said. * The Rajasthan government has scrapped tenders worth 120 billion rupees that were won by Bharat Heavy Electricals more than a year ago for two separate thermal power projects in the state. (Economic Times) * The Indian Oil Corporation has expressed interest in the Sri Lankan government's plans to refurbish the island's only refinery that will cost USD two billion. (Economic Times) OTHER FACTORS TO WATCH * Indian debt/FX factors to watch * Dollar tripped by US GDP data, Aussie shines * Oil little changed in thin, tug-of-war trade * Foreign institutional investor flows * For closing rates of Indian ADRs (Compiled by Manoj Rawal; Additional contributions from Abhishek Vishnoi; Editing by Rafael Nam) Link this Share this Digg this Email Reprints

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