MARKET EYE-About 28 pct of BHEL orders at risk due to Coalgate-Nomura

* Nomura says about 28 percent of Bharat Heavy Electricals Ltd’s order book is at risk of cancellation or deferment due to either non-availability of coal linkage or cancellation of existing linkage, following the coal allocation scam, popularly dubbed Coalgate. * “Coalgate” is a short-hand reference to a state auditor’s report published on Aug. 17 that questioned the government’s practice of awarding coal mining concessions to companies without competitive bidding, potentially costing the trea

Indian FX/debt factors to watch –

GLOBAL MARKETS ROUNDUP * Asian shares rose and the euro steadied on Friday after the European Central Bank outlined its bond-buying scheme to help calm the euro zone’s debt crisis, while firm U.S. data fed speculation of a strong jobs report later in the day. * The euro and commodity currencies like the Australian dollar held onto gains in Asia on Friday, while the safe-haven yen nursed heavy losses as markets cheered the European Central Bank’s plan to tackle the region’s debt crisis.

MARKET EYE-CLSA says underweight trade on Reliance Ind over

* CLSA says underweight trade on Reliance Industries Ltd is over due to a combination of growth, benign consensus expectations, below-average valuations and buyback support. * The research house adds after five years of underperformance it’s “time to cut under-weight” on the stock as government approvals lead to reserve upgrades, rise in production and higher gas price, while its $12 billion downstream expansion would be completed by FY16 leading to doubling of profits. * CLSA raised its target

India oil marketing firms’ shares extend fall

MUMBAI, – Shares in oil marketing companies including Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd extended fall after Oil Minister S. Jaipal Reddy said there was no immediate plan to raise fuel prices.

MARKET EYE-Indian shares join global rally on ECB’s bond buying plan

* India’s BSE index gained 1.44 percent, while 50-share NSE index rose 1.45 percent in early trade, tracking a rally in global shares after the European Central Bank outlined its bond-buying scheme to help calm the euro zone’s debt crisis. * The MSCI-Asia Pacific index excluding Japan rose 1.7 percent after European shares rallied to six-month highs and U.S. stocks closed at multi-year highs on Thursday, cheering the ECB move. * Finance Minister P. Chidambaram approved 11 foreign direct investment.