BOR: Market Outlook: Indian markets may have flat to negative opening today on the back of mixed performance from the global counters.

Market Outlook: Indian markets may have flat to negative opening today on the back of mixed performance from the global counters. Nifty has supports at 5100 -5130 and resistances are at 5230-5250. Markets are expected to trade in a narrow range. Overall markets still looks up but time advices to book profits and stay out.

Global events to watch for today:

• Bank Reserve Settlement
• MBA Purchase Applications
• Chicago PMI
• EIA Petroleum Status Report
• 7-Yr Note Auction
• Farm Prices

Global indices Update @ 9:

Dow Jones : 10454 (-01.67)

Nasdaq : 2288 (-02.68)

Nikkei 225 : 10610 (-27.40)

Hang seng : 21408 (-90.59)

SGX CNX Nifty : 5189 (-06.00)

INR / 1 USD : 46.69

On the global counter: Wall Street ends flat amid light volumes; Dollar gains while Asia trading mixed; Shanghai Composite up, Nikkei down. The winning streak on Wall Street comes to an end. Major indices end the session lower amidst light volumes and lack of leadership. The dollar's rebound too weighed on sentiment. Economic data failed to provide any support either. Energy and financials were the major losers. Some encouraging economic news but failed to lift sentiment. The conference board's gauge of consumer confidence rose to 52.9 in December from 50.6 in November, in-line with expectations. The Dow slipped 1.67 points, or less than 0.1%, to 10,545.41. The Standard & Poor's 500 index was down 1.58 points, or 0.1%, to 1,126.20, while the Nasdaq Composite Index was down 2.68 points, or 0.1%, to 2,288.40.

Stocks in action for the day: Wockhardt, Radico, ONGC, Kingfisher, NMDC

RIL-LB update: LB (LyondellBasells) restructuring involves issuing $6.1 billion equity to creditors RIL cash component for LB bid could be atleast $6 billion -RIL will have to better this offer for creditors to agree

Relief for Aviation companies: Ground Handling Policy (GHP) implementation deferred by year -Airlines to now be permitted ground handling in terminal -Tarmac side ground handling to be outsourced Policy was to take effect from January 1, 2010 Airline companies want policy to be postponed by 2 years

Ranbaxy: -Ranbaxy exits China venture; sells Ranbaxy China stake to HNG Chembio Pharmacy -Ranbaxy to tansfer stake in RGCL to HNG Chembio Pharmacy -Market analysts say impact to be minimal as China is not a lead market for Ranbaxy

NMDC: -May consider foreign partner for mining development -NMDC may consider tech & equipment JV’s with foreign players 100% FDI allowed in mining business -NMDC looking at new prospecting model -NMDC to present new model to Steel Ministry -Alert: Govt to divest 8.38% in NMDC by March 31, 2010.

Indage Vintners FY09 – loss at EBIT level: -Net sales at Rs 302.7 crore versus Rs 254.5 crore -Net loss at Rs 109.3 crore versus profit of Rs 38.1 crore

Talk of agro-chem joint venture with MNC lifts Astec Lifesciences : Astec Lifesciences has come on the radar of operators yet again. The buzz in the market is that Astec is planning to enter into a joint venture with a multinational company to expand its agro-chemical product profile. The joint venture, if it materialises, is expected to give a booster shot to the profit and turnover margins of Astec Lifesciences.

Nagarjuna Agrichem: Stockholders should watch out for future profit growth: The Hyderabad-based agrochemical manufacturer Nagarjuna Agrichem (NACL) has significantly outperformed the markets in 2009. In the past one year, the scrip has gained over four times, while the benchmark Sensex rose 1.8 times.

Credit Suisse buys 1.11% stake in Bharati Shipyard for Rs 7 cr: Foreign fund house Credit Suisse (Singapore) today bought about 1.11 per cent stake in private shipbuilder Bharati Shipyard Ltd for nearly Rs 7 crore. In a bulk deal on the National Stock Exchange, Credit Suisse bought 3,08,004 equities at a price of Rs 230.17 per piece, aggregating to Rs 7.08 lakh. Shares of Bharati Shipyard today closed at Rs 232, higher by 4.55 per cent from its previous close on the NSE.

Civil Aviation Ministry sources say -GHP deferred on private airlines concerns

Wockhardt gets US FDA okay for Generic Carvedilol

Diageo-Radico FDI proposal likely to get FIPB nod

TBEA, BHEL in talks for partnership; Tie-up will help BHEL compete with Siemens, ABB in high voltage segment

ONGC, GAIL may take 12.5% in $ 2 billion gas pipeline in China

CVC to probe BSNL tender; Rs 36,000 crore bid seen violating norms

Kingfisher identifies 3 PE firms to raise $ 400 million; in talks with Aabar, Carlyle and Texas Pacific

IT firms brace for $ 10 billion GM contracts

Essar Securities lists today, no circuit

Marksans Pharma board approves selling API business at Pune, raising funds up to $125 million (CMP Rs 5)

Aban still in NSE F&O curb, Kingfisher also enters curb

BOR: Market Outlook: Indian markets may have flat to positive opening today.

Market Outlook: Indian markets may have flat to positive opening today. Nifty has supports at 5100-5130 and resistances are at 5200-5230. The market surprised everyone registering highest close of the year so far. From a trading point of view we would stay long strictly following the support level. Overall outlook for the markets today is that of cautious optimism as the bulls need to hold the Nifty above the 5170 mark consistently.

Global events to watch for today:

• ICSC-Goldman Store Sales
• Consumer Confidence
• S&P Case-Shiller HPI
• State Street Investor Confidence Index

Global indices Update @ 9:

Dow Jones : 10547 (+26.98)

Nasdaq : 2291 (+05.39)

Nikkei 225 : 10378 (-06.98)

Hang seng : 21487 (-01.76)

SGX CNX Nifty : 5181 (+04.00)

INR / 1 USD : 46.76

On the global counter: Wall Street ends flat after a choppy session & while Asian markets trading flat. It was a flat close on Wall Street after a choppy session. Modest gains in the early trade turned into modest losses during afternoon action, but some late support from the dollar and retail sales helped the stock market settle higher for the sixth straight session. The Dow Jones Industrial Average added 26.98 points, or 0.3%, to 10,547.08. The Standard & Poor's 500 Index rose 1.30 points, or 0.1%, to 1,127.78, and the Nasdaq Composite Index added 5.39 points, or 0.2%, to 2,291.08. The volatility index traded around the 20 mark.

Stocks in action for the day: Ranbaxy, Maruti, UTV, Max India, R Power

RIL - RIL (Reliance Industries) updates non binding proposal for LB (LyondellBasells) -RIL updated proposal has higher cash component; Offers cash of $ 5-6 billion versus previous cash offer was for approximately $ 2 billion

Reliance Power: Reliance Power’s 1200 MW Rosa Project commences generation -Stage I: 600 MW power to be supplied to UP, project investment at Rs 6,000 crore -Stage II: 600 MW expansion underway

Iron Ore export duty: Government doubles export duty on Iron Ore Lumps Export duty on Iron Ore Lumps hiked to 10% (from 5%) 5% export duty imposed on Iron Ore Fines versus nil Steel Ministry wants 10% export duty on all grades

Goldman to pick up 9.4% stake in Max India for Rs 540 crore via subscribing to compulsory convertible debentures which will be converted into shares in 15 months

Advertisers may have to pay 10-15% premium to DTH from January, premium may go up later

UTV, Sun TV in talks for a Tamil movie channel

Maruti expects December sales to jump 30%

3G winners may have to pay bid amount upfront, to get spectrum only in August

Ranbaxy arm gets FDA warning, USFDA warning to Ohm Lab for manufacturing norm violation

Board meets today - Zee Entertainment & ETC Networks on detailed composite Scheme of amalgamation

Unitech's $700 mn FCCB plan hits regulatory wall: Unitech’s plan to raise $700 million through foreign currency convertible bonds (FCCBs) has run into trouble with the finance ministry and Reserve Bank of India (RBI) objecting to the developer’s request to exempt it from a three-year lock-in clause applicable to such investments in construction. Unitech is looking overseas to lower the overall cost of debt, at around 13%, though it said the FCCB money would be used to develop a township.

Reliance making profit of 20k cr from KG gas, RNRL tells SC: Anil Ambani’s Reliance Natural Resources has told the Supreme Court that Mukesh Ambani’s Reliance Industries is making a super profit. RIL of over Rs 20,000 crore by selling gas from Krishna-Godavari basin to others. This gas, RNRL said, was committed to the company and National Thermal Power Corporation (NTPC) by the contractor at $2.34 per million British thermal units (mmBtu). The non-supply of gas at that price will cause the public sector undertaking to lose Rs 32,000 crore, RNRL said in its written submissions.

Tilaknagar Industries scope for a run-up in the price appears limited: The scrip of Tilaknagar Industries has witnessed a sharp run-up in the past two weeks. The Ahmednagar-based manufacturer of Indian-made foreign liquor (IMFL) gained over 23% during the period compared with a 1% rise in the benchmark Sensex.

BOR: Market Outlook: Indian markets are expected to open flat & trade in the rangebound between 4940–5000 levels on intraday basis.

Market Outlook: Indian markets are expected to open flat & trade in the rangebound between 4940–5000 levels on intraday basis. Overall market is now at Make or Break levels and it looks up as long 4950 holds. We like SAIL, Tata Motors & Sadbhav Engg on intraday basis.

Global events to watch for today:

• MBA Purchase Applications
• Personal Income and Outlays
• Consumer Sentiment
• New Home Sales
• EIA Petroleum Status Report
• 2-5-7 Yr Note Announcement

Global indices Update @ 9:

Dow Jones : 10464 (+50.49)

Nasdaq : 2252 (+15.01)

Nikkei 225 : 10378 (+194.5)

Hang seng : 21067 (- 24.76)

SGX CNX Nifty : 4998 (+02.00)

INR / 1 USD : 46.80

On the global counter: Wall St gains on +ve home sales data; S&P hits 52-wk high while Asia trading mixed; Hang Seng down, Straits Times up. Broad-based buying sent the S&P 500 to fresh 52-week highs despite a surprise downward revision to third quarter GDP and a gain by the greenback. The higher than expected existing home sales supported sentiment. The market mood was tempered by news that third quarter GDP was determined to have increased at a slower-than-expected annualized rate of 2.2%, lower than consensus prediction. The housing data of course provided some relief. It showed that existing home sales climbed at a stronger-than-expected clip of 7.4% month-over-month. That lifted the annualized rate to 6.54 million units. The Dow Jones Industrial Average added 50.79 points, or 0.5%, to 10,464.93. The Standard & Poor's 500 index rose 3.97 points, or 0.4%, to 1,118.02, while the Nasdaq Composite Index was up 15.01 points, or 0.7%, to 2,252.67.

Stocks in action for the day: Great Off, Bharati Ship, Hotel Leela, GVK & Videocon

Great Offshore open offer: -Bharati receives 1.02 crore shares in open offer -Bharati receives 27.56% equity in open offer Bharati holds 23.17% stake in Great Offshore, will accept 20% from open offer -Bharati’s stake will go up to 43%

Sun Pharma says: Glass Lewis advises Taro shareholders to hold board accountable for its failures -Earlier PROXY Governance Inc recommended against Taro Board Glass, Lewis & Co & PROXY Governance are leading independent proxy advisory firm

Lupin update: Settles litigation with Hatch - Waxman regarding Memantine Tabs -Alert : Memantine Is Lupins Generic version of Forest Labs NamendaA -NamendaA had sales worth USD 949 million In FY09; contributing 26% of Forests revenues in FY09

Jindal Saw bags orders worth Rs 1,100 cr: Pipe manufacturer Jindal Saw today said it has bagged orders worth Rs 1,100 crore (about USD 240 million) for supplying pipes from various vendors. Majority of the pipes are of exports to the Middle-East market. These orders would be executed in the next nine to 12 months time.

Cadila: Growth should match valuation: Cadila Healthcare, the Rs 3,000-crore Gujarat-based pharma company, has been on a steady growth path over the past couple of years. Given its track record and the potential for growth, going forward, the stock has been undergoing rerating of sorts. Rising by over 60% during the past five months, Cadila’s stock has outperformed the Sensex, which has increased by a mere 8% during the same period.

Videocon in talks to make, sell Philips TV: Videocon, the consumer durables maker which had partnered Japan’s Toshiba and Akai in the past, may make and sell televisions under the century old Philips brand as South Korea’s Samsung and LG eat up market share in the $ 7.5 bn durables industry.

Indian ADRs: ICICI Bank up 4%

Board meets : Zee Entertainment and ETC Networks on restructuring

Reliance's Lyondell buy seen unlikely in 2009: Reuters

Max India board meet on January 13 to consider fund raising

IFCI and Aban in NSE F&O curb

ONGC agrees to a special oil tax if the subsidy burden regime is rationalized

GVK in talks with Siemens for BIAL stake

Hotel Leela Venture promoters raising stake in company to 55% via creeping acquisition (ITC holds 5.1% stake in Hotel Leela)

HDFC Property funds holds back funds on adverse market conditions and unrealistic valuations sought by developers

BOR: Market Outlook: Indian markets may have flat to positive opening today on account of mixed global cues.

Market Outlook: Indian markets may have flat to positive opening today on account of mixed global cues. Nifty has supports at 4900-4930 and resistances are at 5000-5050. Overall market still looks weak and can come down to around 4850 levels’. We expect a rally & new market highs anywhere between Feb-March 2010, till then markets to be in range action between 4850-5000.

Global events to watch for today:

• ICSC-Goldman Store Sales
• GDP release
• Corporate Profits
• Existing Home Sales
• FHFA House Price Index
• 4-Week Bill Auction

Global indices Update @ 9:

Dow Jones : 10414 (+85.25)

Nasdaq : 2237 (+25.97)

Nikkei 225 : 10287 (+103.8)

Hang seng : 21179 (+231.1)

SGX CNX Nifty : 4965 (+25.50)

INR / 1 USD : 46.80

On the global counter: Nasdaq at new 15-month high; Gold slips below $ 1100/oz & Asia trading higher; Hang Seng, Nikkei up. The Wall Street gained with the Nasdaq closing at a new 15-month high. Positive earnings, upgrades for Alcoa and Intel and the senate health-care bill advancing triggered gains despite the dollar index gradually gaining traction. The Dow Jones Industrial Average was up 85.25 points, or 0.83% at 10,414.14. The Standard & Poor's 500 Index gained 11.58 points, or 1.05%, to 1,114.05. The Nasdaq Composite Index rose 25.97 points, or 1.17, to end at 2,237.66, its highest close since September, 2008.

Stocks in action for the day: Asian Oilfield, Aegis, Jet Air, Hind Comp

RIL Llyondell Basell (LB) update; Working on revised binding proposal for stake in LB -May look at higher cash payout for strategic stake -Alternatively a restructuring plan to increase cash flow -Final offer may be combination of both -Proposal has to be attractive for creditors to gain support -Revised valuation for LB still not finalised LB's own revised proposal is for approximately $8 billion.

RIL-SEBI letter:-MCA orders scrutiny by Registrar Of Co’s after Sebi letter:-Non-invasive scrutiny to be conducted by RoC; -Scrutiny on basis of info available in public domain & govt records: -MCA to ask for substantial evidence from Sebi & keen on proactive action by Sebi: - RIL issued 1,87,000 NCD’s worth Rs 300 crore in 1994 & 120 million equity shares in January 2000 on exercise of option warrants Alert: Sebi asked MCA to look into share allotment, RIL board role & funding.

Ispat debt recast: -Lenders give final nod to Ispat Industries debt recast Total debt of Rs 6,500 cr across 14 lenders Lenders approve Ispat Industries 1 MTPA coke oven plant in Raigad Promoters asked to pledge 95% shareholding against 100% Company to hedge interest risk of its Rs 2000 cr FX loan Lenders approve company's Rs 500 cr QIP -Company aims to complete coke oven plant project by December 2011 Coke Oven Plant an SPV, in JV with Stemcor IDBI Bank, ICICI Bank & IFCI lead arrangers.

A Raja Says 4 slots of 3G to be auctioned -Slots to be allocated by August 2010 -All slots to be given at same time -3G Auction to be conducted as per schedule; scheduled for January 14.

NSE may consider 9-5 trading in index futures (Nirmal Jain, Rashesh Shah, Dinesh Thakkar, Madhabi Puri Buch and Satish Menom meet NSE to discuss the same).

Indian ADR: Tata Communications down 5.5%, Wipro down 3.5%, Sterlite Industries down 3%, Satyam down 2.2%.

Wadhwa group buy LBS plot for Rs 570 crore from Hindustan Composite – (Hindustan Composite is BSE listed Co – CMP Rs 358).

Joint house committee has recommending blacklisting Siemens, L&T and Zurich Airport for faulty design of Bengaluru International Airport (JHC also indicted NarayanMurthy, Rajeev Chandrashekar and others).

Ansal API plans to raise Rs 650 crore via QIP in February – FE (Management says cant comment on speculation).

Airlines to break even for first time in Seven quarters, Jet likely to break even, Spice may scoop a profit.

Great Offshore open offer closes today.

Cement prices hiked by Rs 5/bag in Mumbai from Monday.

Unity Infra raises Rs 73 crore via QIP at an issue price of Rs 506.

Aegis Logistics board approves acquisition of 100% Equity Capital of Shell Gas.

No circuit filter on Zandu Pharmaceuticals.

Asian Oilfield board meet today to consider additional funding.

TVS Motors plans 200cc Motorcycle.

Russian Billionaire Len Blavathik says RIL bid of LB too low.

Golden Tobacco board approves developing its Vile Parle Property.

Govt likely to ban FDI in tobacco.

BOR: Market Outlook: Indian markets may open flat to positive opening today on account of mixed global cues.

Market Outlook: Indian markets may open flat to positive opening today on account of mixed global cues. Nifty has supports at 4930-4950 and resistances are at 5050-5070.

Global events to watch for today:

• No major events to eye
• 4-Week Bill Announcement
• 3-Month Bill Auction
• 6-Month Bill Auction

Global indices Update @ 9:

Dow Jones : 10328 (+20.63)

Nasdaq : 2211 (+31.64)

Nikkei 225 : 10205 (+63.09)

Hang seng : 21073 (-102.69)

SGX CNX Nifty : 4988 (+4.50)

INR / 1 USD : 46.85

On the global counter: Wall Street ends higher; tech stocks push Nasdaq up 1.5% while Asian trading mixed; Hang Seng down, Nikkei up. The US markets ended with moderate gains on Friday. The Nasdaq, which consists mostly of technology stocks, rallied post better quarterly performance from Oracle and Research in Motion (RIM). The gains in Dow and S&P got curbed by rise in the dollar index. Technology stocks witnessed buying interest post the news. Oracle jumped 6.4% to USD 24.34; its Q2FY10 net profit went up 12.31% to USD 1.46 billion from USD 1.3 billion in the same quarter of previous year. Its sales increased to USD 5.9 billion from USD 5.6 billion YoY).

Stocks in action for the day: RIL, REC, Welspun, Prime Focus, ONGC, DRL

JSL CDR update: -Talks between JSL lenders & promoters inconclusive -Bankers want promoters to pledge entire 55% holding while promoters want to decrease pledge to 5-7% -Promoters want banks to fund 50- 75% debt in foreign currency JSL total exposure stands at Rs 7,000 crore

RIL – RNRL update -Arguments in RIL-RNRL D6 gas case conclude at SC (Supreme Court) Solicitor General Says: -Government property being used for mergers-demergers -EGoM (Empowered Group of Minister) decided pricing, allocation can't be challenged -Govt has been subject to trial by ambush -Surprised that RIL claimed RNRL allocated gas by EGoM -RIL no more than an agent for selling gas

MRF FY09 results today

IFCI still in NSE F&O curb

SEBI asks govt to mull action against RIL for allegedly routing funds to dummy cos for buying large quantity of its shares in 2000:

Telangana impact: KCR warns that illegal lands acquired by Dr Reddy's and IMAX will be confiscated once Telangana is formed

Lilly wins British drug patent case versus Dr Reddy's

REC FPO to hit markets in January-February 2010: Power Ministry

ONGC declares 2 gas finds, Rs 18 per share dividend

Bright Brothers open offer at Rs 50 (CMP 43)

Golden Tobacco board meet to consider development of properties

Indiabulls Financials, Societe General sever ties for life insurance JV – FE

Petroleum Ministry has asked Finance Ministry to give infra status to E&P, also extend subsidy of LPG and Kerosene beyond March 2010 – FE

Welspun to merge 3 investment firms to unlock value, raise funds – Mint

Prime Focus earned $18 million for providing visual effects in Avatar – BS

Indian ADR: Tata Communications up 6.4%

Asian Hotels: Demerger to unlock value for shareholders: Delhi-based Asian Hotels (AHL), one of the largest players in the hospitality business, has got its shareholders’ approval to demerge the company into three independent entities. The three undertakings will own one property each in Delhi, Mumbai and Kolkata.

BOR: Market Outlook: Indian markets will have negative opening today on account of weak global cues.

Market Outlook: Indian markets will have negative opening today on account of weak global cues. Nifty has supports at 4950-4980 and resistances are at 5070-5100. Overall outlook for the markets today is that of caution as the bulls need to hold the Nifty above the 5045 mark consistently. Being a weekend session, buying enthusiasm maybe calibrated.

Global events to watch for today:

• No major events to eye

Global indices Update @ 9:

Dow Jones : 10308 (-132.8)

Nasdaq : 2180 (-26.86)

Nikkei 225 : 10110 (-104.06)

Hang seng : 21162 (-222.6)

SGX CNX Nifty : 5002 (-30.00)

INR / 1 USD : 46.78

On the global counter: Wall Street declines as dollar gains; Gold slips 3% & Asia trading weak; Hang Seng, Nikkei, Straits Times down. The US markets declined as the dollar gained and jobless claims rose more than expected. Financials were among the hardest hit. Citigroup shares tumbled more than 6% while Bank Of America shares slipped almost 3% while Goldman and JP Morgan were down 2.5% and 4%, respectively. Driving some of the losses in the US markets was the jobless claims data, which unexpectedly rose 7,000 to a seasonally adjusted 4, 80,000. The Dow slipped 132.86 points, or 1.3%, to 10,308.26. The broader Standard & Poor's 500 index was dwon 13.10 points, or 1.2%, to 1,096.08, and the Nasdaq Composite Index fell 26.89 points, or 1.2%, to 2,180.05.

Stocks in action for the day: KRBL, Tata Motors, BoB, Maytas, Omaxe, DLF

DLF concall: -Most rental assets will be with DLF Cyber City -Promoters related parties; not involved in integration -All group rental assets come under DLF now -Deal eliminates all overlaps of interest -Deal creates a rental giant; strengthens DLF balance sheet -Integration allows 50% of income from rentals for DLF -Annualised rental income post integration to up by Rs 555 crore -Additional development potential of 11.83 million sq ft -Deal does not change position on Rs 2,800 crore receivables due -Same cap rates used to arrive at Cyber City & Caraf values

RNRL – Dadri case update: -UP government initiates repossession procedure for Dadri land Dadri land allotted to ADAG company power plant -UP Power Secretary asks land to be returned to farmers ready to return compensation

RIL-RNRL case update: RIL says -If 40 mmscmd sold at $2.34, will get return of 2.6% -Rate of return even lower than borrowing cost Selling at $2.34/mmbtu subsidy to RNRL will be $6.3 billion -Company borrowed $6 bn at average rate of 10% -At $2.34/mmBtu, net return is $1.8 on investment of $12 -At valuation of $4.2/mmbtu, total cost is $1.94/mmBtu -By selling 40 mmscmd at $2.34/mmbtu, profit $0.23 -Return of equity pre tax at 3.9%; post tax at 2.5% -Ind norm for equity return for similar project at 20%

Omaxe: -Income tax officials visit Omaxe offices -IT officials verifying tax related documents of Omaxe -Verification part of enquiry; no raids; operation underway

Maytas Infra : -Maytas Infra files motion for dismissal in US class action suits -Maytas Infra says US Courts have no jurisdiction over it

Board meet: Pipavav Shipyard on general business activity

Bright Bros buy back offer at maximum Rs 50/share

Sona Koya eyes acquisition in aerospace

Bank of Baroda: FIIs can purchase in open market

IFCI still in NSE F&O curb

Tata Motors Group global sales grew by 62% in November 2009 versus November 2008

No circuit filter for D-link India today

Aarey Drugs approves 2:1 rights issue at Rs 25 (cmp 44)

KRBL board approves 1:10 stock split

Indian ADRs: HDFC Bank down 4.7%, ICICI Bank down 3.5%

BOR: Market Outlook: Indian markets may have flat to positive opening today.

Market Outlook: Indian markets may have flat to positive opening today. Nifty has supports at 4970-5000 and resistances are at 5080-5100. Overall the market is a sell call so adviced not to hold long position. The market unfolded exactly as expected, the market taking support right on 5001 and closing in the green. Technically, the market is weak and rallies until 5100 can be still sold.

Finally Markets to start @ 9: The war between the stock exchanges has just turned up the heat. The National Stock Exchange (NSE) yesterday evening announced it would pre-pone the market opening to 9am from Friday, from 9.52 earlier. Market closing, however, would remain the same — 3.30pm. The SEBI move was prompted by a long-standing demand by the stock exchanges for allowing extension of trading hours to capture more trading from international investors, especially from Asian countries like Singapore where exchanges open earlier, Indian time.

Global events to watch for today:

• Jobless Claims
• Leading Indicators
• Philadelphia Fed Survey
• EIA Natural Gas Report
• 6-3-Month Bill Announcement
• Fed Balance Sheet
• Money Supply

Global indices Update @ 9:

Dow Jones : 10441 (-10.88)

Nasdaq : 2201 (+05.86)

Nikkei 225 : 10184 (+44.05)

Hang seng : 21697 (-27.14)

SGX CNX Nifty : 5021 (-02.00)

INR / 1 USD : 46.68

On the global counter: Wall Street ends mixed; Fed keep rate unchanged & Asia trading mixed; Hang Seng down, Nikkei up. In US markets the Dow erased all of its gains after the Fed offered no surprises in its latest statement, keeping interest rates steady, as expected. The fed also backed its pledge to keep rates low for an extended period. The Dow Jones Industrial Average was down 10.88 points, or 0.1%, to 10,441.12. The broader Standard & Poor's 500 index added 1.25 points, or 0.1%, 1,109.18. The Nasdaq Composite Index was up 5.86 points, or 0.3%, to 2,206.91. In key takeaways from the 2-day meeting of the Federal Reserve, the Fed kept its target range for its bank lending rate at zero to 0.25%, where it's stood since last December. And it repeated its pledge to keep rates at exceptionally low levels for an extended period.

Stocks in action for the day Bharti, Balrampur, HCC, Titagarh

Bharti Warid deal: -Bharti says talks with Warid in preliminary stage -Abu Dhabi Group says: have agrees to sell 70% in Warid Telecom to Bharti -Abu Dhabi Group says: Bharti to gain management control of Warid Warid Telecom Bangladesh's 4th biggest Telco Sunil MittalSurprised by Abu Dhabi Group comment on Warid Telecom -Have nothing to say on possible Bharti-Warid deal

DLF: Creating 2 verticals; Development & Rental -Caraf debt at Rs 2,200-2,300 crore -No change in DAL (DLF Assets) except change in ownership -Gives flexibility for asset monetization -Value of transaction arrived based on asset holding -Committed to REIT listing; no timeline in mind -Benefit from REIT listing will be passed on to DLF.

Sistema takes mobile tariffs to a new low: Telecom tariff war continued with Sistema Shyam Teleservices (SSTL) offering mobile call charges as low as half-a-paisa per second, a denomination that never existed in the history and still hoped to cover costs in three years adds the world’s biggest mobile operator, Vodafone, believes may be difficult. The 0.5 paisa per second offer from the Russian-controlled company immediately triggered a reaction, though in a limited way. Rival company Loop offered calls at 10 paise per minute, translating into 0.16 paisa per second, for calls between its subscribers. Vodafone Essar is expected to follow with a similar tariff and others too may join.

Apollo Hospitals may hive off business: Apollo Hospitals Group, which is currently in the process of rolling out a chain of smaller hospitals in Tier II and III towns under the ‘Apollo Reach’ banner, may hive off this business into a separate company to attract private equity funding. This comes at a time when several global private equity players have shown interest to invest in this venture.

Sumitomo to buy minority stake in Bhushan Steel’s Bengal project: Japanese steelmaker Sumitomo has agreed to pick up a substantial minority stake in Bhushan Steel’s mega steel project in West Bengal, joining the growing list of global players stitching up alliances in India. Under the JV agreement, the capacity will be increased to 6 MT subsequently. The companies have agreed on the broad contours of the JV, however, the financial details will be worked out in the next six months.

Shree Renuka walks out of Balrampur deal: Shree Renuka Sugars has decided not to continue negotiations with the Saraogi family for control of Balrampur Chini because of differences over valuation. A top official of Shree Renuka reported that while the promoters of Balrampur Chini, who own a 36.6% stake in the company, sought Rs 220 a share, Belgaum-based Shree Renuka Sugars was not offering more than Rs 180 a share. Earlier, a proposed deal with Bajaj Hindusthan, too, did not materialise, though for a different set of reasons.

Syndicate in talks to buy Bharti’s 25% in mutual fund JV with AXA: Manipal-based Syndicate Bank is in talks to acquire Bharti’s 25% stake in Bharti AXA Investment Managers, as part of its plan to enter the asset management business.

KRBL board meet to consider stock split

Ex bonus: Jaiprakash Associates (1:2)

HCC bags Rs 317.92 crore road project in Kolkata to be completed in 30 months

Merger ratio between Titagarh Wagons and Titagarh steel fixed at 1:36

BOR: Market Outlook: Indian markets may have flat to positive opening today on the back of mixed global performance

Market Outlook: Indian markets may have flat to positive opening today on the back of mixed global performance . Nifty has supports at 4970-5000 and resistances are at 5080-5100. Yesterday market finally cracked and closed below the 5050 mark, now the 5000 mark will play the support zone and frustrate the market again. Overall the market is a sell call so adviced not to hold long position.

Global events to watch for today:

• Bank Reserve Settlement
• MBA Purchase Applications
• Consumer Price Index
• Housing Starts
• EIA Petroleum Status Report
• FOMC Meeting Announcement

Global indices Update @ 9:

Dow Jones : 10452 (-42.05)

Nasdaq : 2201 (-11.05)

Nikkei 225 : 10184 (+100.5)

Hang seng : 21697 (-116.0)

SGX CNX Nifty : 5021 (+00.50)

INR / 1 USD : 46.64

On the global counter: US mkts end lower on inflation concern; Dow down 49 pts while Asian markets trading firm; Shanghai Composite, Nikkei up. US markets snapped a four-day winning streak as an inflation report stoked interest rate fears. General Electric delivered a weak outlook. GE told investors that it expects revenue to be flat next year. In important macro data from the US, inflation at the wholesale level surged 1.8% in November, reflecting price jumps in energy and other products. The jump in inflation comes as the fed kicked off a two-day monetary-policy meeting.

Stocks in action for the day: Kalindee Rail, Union Bk, DLF, Bharati Ship

SBI-IAG: SBI-IAG non life JV receives final nod from IRDA -SBI-IAG likely to launch operations in March 2010-IAG stands for Insurance Australia Group

Bhushan Steel: -May tie up with Japanese company for India Steel Project: May announce alliance with Japanese company on Wednesday

DB Corp IPO closes Total: 39.54 times QIB: 68.5 times NII: 26.1 times Retail: 3 times DB Corp: -Fido, Goldman, India Cap and P Notes like Citi, BNP, Macquarie, ABN, JPM etc have bid for full book -Domestic funds include Reliance MF, Pru ICICIMF, Pru ICICI Life, HDFC MF, Birla MF

Mobile subscriptions: Bharti Airtel adds 2.8 million users in November versus 2.7 million (MoM) Idea added 2.55 million mobile users in November versus 1.9 million (MoM) Vodafone adds 2.78 million mobile users in November versus 2.98 million (MoM) MTNL adds 73,019 GSM mobile users in November versus 65,730 (MoM)

Bajaj Hindusthan Q4 Net profit at Rs 69 crore versus loss of Rs 87 crore -Net sales at Rs 415 crore versus Rs 463 crore -Decrease in inventory at Rs 268 crore versus Rs 339 crore -Interest cost at Rs 26 crore versus Rs 59 crore ((QIP proceeds used for debt repayment))

Orchid Chemical to sell generic injectable finished dosage from pharma business to Hospira for $400 million

Three PSU oil cos slip on advance tax payment: The three state-owned oil companies, Indian Oil Corporation, Hindustan Petroleum Corporation and Bhrat Petroleum failed to pay the third instalment of advance tax on given the delay in issuing oil bonds to them by the government.

Cipla in talks to supply drugs to Germany’s BI: German drugmaker Boehringer Ingelheim (BI) has started discussions with Cipla for a drug supply agreement that could see the Indian company supply generic drugs to the $17-billion German company for two of its drugs, including one of its best sellers.

LIC sells 2.14 pc stake in Bharati Shipyard for Rs 13.18 cr: Life Insurance Corporation of India has sold 2.14 per cent stake in shipbuilding firm Bharati Shipyard for Rs 13.18 crore, through open market. LIC held 12.71 per cent stake in the shipbuilding firm, while now it holds 10.57 per cent stake in Bharati Shipyard.

Tata Steel update: Corus announces €35 million investment in French steel mill after securing rail contract

DLF board approved integration between DLF Cyber City and Caraf Builders in 60:40 ratio

Shree Cements advance tax at Rs 31 crore versus Rs 40.5 crore

Bharati Shipyard says LIC sells 2.14% stake in company

Kingfisher still in NSE F&O curb

PSU Bank employees on 1-day strike today against consolidation

FIIs can buy shares of Union Bank as FII investment falls below prescribed limit

Uttam Galva open offer opens on December 19, closes on January 7

Kalindee Rail board meet on December 22 for issuance of convertible warrants to promoters

BOR:Market Outlook: Indian market may have flat to negative opening today on account of mixed global cues.

Market Outlook: Indian market may have flat to negative opening today on account of mixed global cues. Nifty has supports at 5000-5050 and resistances are at 5160-5180. Cverall indicators advices a sell call on markets but structurally it is still on sideways market movement.

Global events to watch for today:

• 3-10-30 Yr Note Settlement
• FOMC Meeting Begins
• ICSC-Goldman Store Sales
• Producer Price Index
• Empire State Mfg Survey
• Industrial Production data
• Housing Market Index

Global indices Update @ 9:

Dow Jones : 10501 (+29.55)

Nasdaq : 2212 (+21.79)

Nikkei 225 : 10087 (-18.50)

Hang seng : 21899 (-186.34)

SGX CNX Nifty : 5110 (+8.00)

INR / 1 USD : 46.66

On the global counter: Wall Street ends at 14-month high on Exxon Energy deal while Asia trading lower; Shanghai Composite, Hang Seng down. US stocks closed at a 14-month high as news of the Exxon Energy deal and a lifeline for Dubai helped buoy investors' appetite for risk. Exxon Mobil gave a boost to the energy sector with its plans to buy natural-gas developer XTO Energy in an all-stock deal valued at 31 billion dollars, but Exxon stock was the biggest drag on the Dow. Meanwhile XTO shares jumped 15%.The Dow rose 29.55 points, or 0.3%, to 10,501.05, highest close since October 1, 2008. The S&P 500 index added 7.70 points, or 0.7%, to 1,114.11, highest finish since October 2, 2008 and the Nasdaq composite index gained 21.79 points, or 1%, to 2,212.10.

Stocks in action for the day: DLF, Dhunseri Tea, GMR, RIL, Glenmark

DLF restructuring: DLF restructured into 4 verticals namely Annuity, Gurgaon, Super Metros & Rest Of India: Annuity Arm comprises leased assets like IT parks, offices, malls -DLF subsidiary Cyber City Developers to become the Annuity arm: Restructuring increases assets under Cyber City subsidiary: -DLF restructuring was precursor to integration with DAL (DLF Assets Ltd):: DLF promoters to receive upto 40% in DLF Cyber City
-Citi, Enam Bankers for DAL integration with DLF: Cyber City ltd to be integrated with DAL. -DLF board meet today to consider integration of Caraf Builders & Constructions Private (a promoter group company) with DLF Cyber City Developers (Wholly owned subsidiary of DLF) -DLF to sell wind energy business to French Major GAz de France for Rs 950 crore

Q3 Advance Tax numbers ((All YoY except where mentioned QoQ))
Tata Motors pays Rs 100 crore versus Nil (YoY)
M&M pays Rs 195 crore versus Rs 4.5 crore (YoY)
Tata Steel pays Rs 650 crore versus Rs 260 crore (YoY)
Hindalco pays Rs 100 crore versus Rs 40 crore
HUL pays Rs 200 crore versus Rs 155 crore:
L&T pays Rs 270 crore versus Rs 312 crore (YoY)
Grasim Q3 advance tax at Rs 150 crore versus Rs 75 crore:
UltraTech pays Rs 90 crore versus Rs 65 crore (YoY)
HDFC Q3 advance tax at Rs 320 crore versus Rs 280 crore:
Dena Bank pays Rs 65 crore versus Rs 60 crore (YoY)
IndusInd Bank pays Rs 65 crore versus Rs 22 crore (YoY)
Bank Of Baroda pays Rs 330 crore versus Rs 220 crore (YoY)
Bank Of India pays Rs 102 crore versus Rs 370 crore (YoY)
Central Bank pays Rs 138 crore versus Rs 163 crore (YoY)
Tata Power pays Rs 81 crore versus Rs 29 crore (YoY)
Tata Chem pays Rs 40 crore versus Rs 83 crore (YoY)
Indian Oil Q3 advance tax nil versus Rs 1,100 crore (QoQ)
BPCL Q3 advance tax at nil

Glenmark: Glenmark may settle with Merck on Cholestrol Drug -Merck may withdraw patent litigations against Glenmark -If case settled, Glenmark’s US revenue would get boost

DB corp IPO closes today Total: 2.45 times QIB : 4.46 times NII : 0.738 times Retail : 0.2 times

South Asian Petrochem board meet today to consider amalgamation of the company with Dhunseri Tea ((Both listed))

Dhunseri Tea board meet today for demerger of Jaipur Packet Factory and Investment Div of the Co and amalgamation of South Asian Petrochem and Dhunseri Polycarbonate

GMR to raise Rs 1,200 crore via stake sale in GMR Energy, in talks with Temasek.

Kingfisher still in NSE F&O curb

Sources indicate RIL yet to decide on the final bid for Lyondell-basel

JSW Energy sets issue price of Rs 100/share (Rs 5 discount to retail investors)

Golden Tobacco board meet on December 21 to consider development of properties

Bajaj Hindusthan Q4 numbers today

Godrej Consumer board meet today on fund raising

Infra firms may get MAT relief (Budget expectations)

Gemini Communication close to bagging BSNL’s Rs 1,000 crore Wimax deal

Redington board approves investment of $29 million into its wholly owned subsidiary

BOR:Market Outlook: Indian markets may have flat to negative opening today on the bacl of mixed performance in the global market.

Market Outlook: Indian markets may have flat to negative opening today on the bacl of mixed performance in the global market. Nifty has supports at 5000-5050 and resistances are at 5180-5200. Market is expected to remain sideways.

Global events to watch for today:

• 4-Week Bill Announcement
• 3-Month Bill Auction
• 6-Month Bill Auction

Global indices Update @ 9:

Dow Jones : 10471 (+65.67)

Nasdaq : 2190 (-00.55)

Nikkei 225 : 10030 (-76.99)

Hang seng : 21631 (-270.3)

SGX CNX Nifty : 5093 (-17)

INR / 1 USD : 46.52

On the global counter: US markets end flat; Indian ADRs weak while Asian markets trading weak; Hang Seng, Nikkei down. The US markets closed flat. The Dow Jones Industrial Average was up 65.67 points, or 0.63%, to 10471.5. The S&P 500 was up 4.06 points, or 0.37% to 1106.41 while the Nasdaq was down 0.55 points, or 0.03%, to 2190.31.

Stocks in action for the day: SAB TV, Parsvnath, Tata Steel, DLF, Den Net

Godrej Prop sets issue price at Rs 490/share ((price band was at Rs 490-530/sh)): Total oversubscription: 4 times QIB: 7.45 times NII: 0.409 times Retail: 0.375 times Maximum bids at Rs 490/share ((All bids on last day at Rs 490/share))

DB corp IPO (day 1): Total : 2.02 times QIB: 3.79 times NII: 0.522 times Retail: 0.018 times

DE Shaw – DAL update: -DE Shaw's exit from DAL may be in violation of FDI rules: Finance Ministry DE Shaw most likely invested in DAL via FDI route in 2007: FDI rules say investors must stay invested for 3 years -Alert: investors could exit before 3 years with approval from FIPB -DE Shaw has not taken FIPB approval so far: -DE Shaw may seek post facto nod from FIPB if not completed 3 years: Transaction can also be stopped by RBI, at AD bk level:

NTPC Divestment : 4 merchant banks in race for NTPC divestment mandate:-I-Sec, Citi, Kotak & JPMorgan may win NTPC mandate 15 merchant banks had bid for NTPC mandate

ONGC Says: -Tied up $200 million forex loan to repay debt for Imperial buy -To raise $800 million Via Bond, CP in January to repay Imperial Debt -: ONGC to repay around $1 billion bridge loan for Imperial buy

Tata Steel plans to raise Rs 5,000 crore via equity and debt

Lyondell ignores RIL’s offer, files rescue plan before the special bankruptcy court in NY South District

ONGC seeks windfall tax for private companies on crude oil above $60/bbl to pay for fuel subsidy

Fidelity buys 3% in Den Networks from open market

Reliance Life, China Life in talks for Pre-IPO placement, ADAG also in talks with PE players to sell around 15% stake

I&B Ministry to check financial of radio firms to get a measure of financial losses before announcing 3rd phase of private FM radio broadcasting

BHEL in talks with L&T, Pipavav to revieve off-shore rigs business

Oil ministry: PSU oil retailers' FY10 revenue loss seen at Rs 45,480 crore:

SUN-Apollo invests in Parsvnath Exotica Part -II, Gurgaon; Parsvnath raises Rs 75 crore

SAB TV (Sri Adhikari Brothers) board approves fund raising upto Rs 100 crore & issue of 29.25 lakh warrants to promoters