Sensex up 116 points in early trade

FACTORS TO WATCH

Finance Minister P. Chidambaram will be in Bangalore for a meeting with the chief ministers of South Zone states.

The Reserve Bank of India Governor Duvvuri Subbarao will give an address on 'G 20 and India' in Mumbai (Event starts at 1230 GMT)

INDIAN STOCKS TO WATCH

ENERGY/COMMODITIES

Tata Steel will continue to pursue a cost-cutting target of 12 billion rupees set for 2012-13 for its domestic operations, said Tata Steel managing director HM Nerurkar. The Home Ministry has allowed Essar Ports and Adani Ports and Special Economic Zone to bid for the mega container terminal project in Chennai.

The Reserve Bank of India directed banks not to give loans for purchase of gold in any form, including primary gold, bullion and jewellery, to dissuade people from indulging in speculative activity.

Monnet Ispat and Energy Ltd is targeting to buy a majority stake at a coal mine in Colombia, said N.C. Jha, CEO of the Mining Business division.

FINANCIAL/REGULATORY

Insurance sector regulator IRDA is objecting to the finance ministry's plan to allow Life Insurance Corporation (LIC) to own up to 25 percent of a listed company.

Officials of the Foreign Investment Board will meet Tuesday to discuss the potential implications in India from a recent report by the U.S. Congress Panel that said Huawei Technologies and ZTE Corp posed a security threat.

RETAIL

Dairy giants Danone is among potential acquirers of a controlling stake in Tirumala Milk Products

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