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

Market Outlook: Indian markets may have positive opening today on account of strong global cues. Nifty has supports at 4700-4730 and resistances are at 4850-4900.

Global Events to watch for today

• Bank Reserve Settlement
• MBA Purchase Applications
• International Trade
• 10-Yr Note Auction
• Treasury Budget

Global indices Update @ 8:

Dow Jones : 10058 (+150.2)

NASDAQ : 2150 (+24.82)

Nikkei 225 : 10035 (+102.8)

Hang seng : 19922 (+131.9)

SGX CNX Nifty : 4830 (+42.00)

INR / 1 USD : 46.68

On the global counter: Wall Street ends higher; Dow gains 150 points & Asian markets trading higher; Hang Seng, Nikkei up. Wall Street staged a powerful surge on optimism that help was on the way for Greece to deal with its heavy debt burden.

Stocks in action for the day: Bharti, Fame, Kirloskar Bros, Sadbhav Engg & Goodyear, Chettinad Cem, Kilburn, GTC, Fortis, SAIL

NTPC FPO: -NTPC FPO clearing price for QIBs at Rs 202 versus Rs 201 floor price: ALERT: Maximum bids for NTPC FPO received at Rs 209

Oil pinch: Cabinet to take final call: An increase in the prices of petrol and diesel appears imminent as top Congress leaders prepare on Wednesday to ponder the Kirit Parikh panel report that has recommended radical overhaul of the fuel pricing system in the country.

Bharti contributes 24% of SingTel’s global profit: The largest telecom company of India by revenue and customer, Bharti Airtel, has accounted 24% of SingTel’s profit of S$ 991 million for the three-months ended December 09, the Singapore-headquartered telco.

Rel Capital picks 1.6% in Fame: Reliance Capital Partners, a group firm of Reliance ADA group, on Tuesday bought 1.6% stake through open market purchases in multiplex operator Fame India to take total holding to 7.6%, fuelling expectations that it may come out with a counter offer to buy more stake in the company.

SBI to continue with teaser rates till March end: India’s largest public sector bank, State Bank of India (SBI), will continue with its limited period offer on home loans, popularly known as ‘teaser rates’ till the end of the current financial year, escalating the differences with RBI on the issue.

Copper, oil & sugar top picks, says Morgan Stanley: Copper, crude oil and sugar are the top picks among commodities, with the three set to gain on increasing emerging-market demand and supply constraints as the global economy recovers, according to Morgan Stanley.

Ennore Coke to invest Rs 750 million in Haldia plant Ennore Coke, a domestic manufacturer of metallurgical coke, would invest Rs 750 million in scaling up the capacity of its coke plant at Haldia (West Bengal) from 1.5 lakh tones per annum to 3 lakh tones per annum. The expansion plan is set to be achieved by the end of 2010-11.

Kirloskar Bros bags order from GWSSB for installing solar pumps Kirloskar Brothers (KBL), the largest pump manufacturer & turnkey contractor in India, has bagged an order from the Gujarat Water Supply and Sewage Board (GWSSB) to install 10 solar pumping systems in seven yet to be electrified villages in Gujarat estimated to touch the lives of over 500 tribal families.

L&T Infotech: -IPO plans on track, cannot define timeline for now -Will look at acquisitions in retail, banking space -Budget for acquisition varies between USD 150-200 million

L&T General Insurance: -L&T General Insurance Venture receives initial nod from IRDA: Srcs -L&T General receives R1 approval from IRDA: Srcs R1 is the first stage of regulatory approval

Board meets today: -Fortis Healthcare - raise funds upto Rs 1000 crore -DIC India – Q3 results -Bombay Dyeing: issue of Warrants to Promoters on a preferential basis -Indowind Energy - allotment of share warrants on preferential basis. -Balaji Amines - consider setting up of a hotel at solapur (low volume)

Ex- dates: -Consolidated Construction- stock split from 10 to 2 -KRBL – stock split from 10 to 1 Mounteverest Trading – bonus of 3:1 -Oil India – dividend of Rs 18

Govt may up import duties on foreign power generation equipment:

Shriram Properties sells 49% stake to ICICI Pru for Rs 40 crore
BSNL mulls private placement as IPO hopes fade (May divest 5-10% stake)
Koutons to open 100 more family concept stores by end-FY 11
Chettinad Cement board approves scheme of arrangement with Allied Minerals and Metals in the ratio of 1:46

Sadbhav Engg consortium bags order worth Rs 1225 cr

Goodyear to consider delisting of shares

BOR: Market Outlook: Indian stocks are likely to see a negative opening as global jitters failed to ease market sentiments.

Market Outlook: Indian stocks are likely to see a negative opening as global jitters failed to ease market sentiments. Nifty has supports at 4675-4700 and resistances are at 4800-4840. Overall the trend is still down but a stoppage of slide is not ruled due to the oversold condition of the market.

Global Events to watch for today

• ICSC-Goldman Store Sales
• Redbook
• Wholesale Trade
• 4-Week Bill Auction
• 52-Week Bill Auction
• 3-Yr Note Auction

Global indices Update @ 8:

Dow Jones : 9908 (- 103.8)

NASDAQ : 2141 (- 15.69)

Nikkei 225 : 9907 (- 44.17)

Hang seng : 19577 (+109.4)

SGX CNX Nifty : 4775 (+08.00)

INR / 1 USD : 46.81

On the global counter: Wall St slips; Dow closes below 10K first time since Nov 4 & Asia trading firm; Shanghai Composite, Hang Seng up. The Dow closed below the psychological 10,000 level for the first time since November 4. Worries about debt problems in Greece, Portugal and Spain dragged the markets. Financial stocks dropped 2.2% as participants pressured the sector. Bank of America was one of the weakest performers within the financial sector.

Stock in action for the day: SAIL, Jet Air, Pantaloon, Ranbaxy, Gulf Oil, Bombay Dyeing

SAIL: -SAIL may issue bonus shares before FPO: -Govt has suggested bonus issue to SAIL: -SAIL management yet to finalise bonus issue plan:

Jet Airways - Jet Airways in initial talks with Fedex Corp for cargo business -Jet Airways looking at JV or alliance with FedEx Corp Jet Airways -January load factor at 73.6% versus 64.7% (YoY) -January International load factor at 84.9% versus 74.9% (YoY) -JetLite January Load Factor at 75.1% versus 67.8% (YoY)

Fame-INOX - SEBI unlikely to intervene in Fame-INOX deal -Essentially a deal between buyer & seller -May not attract provisions of takeover code -To examine issue once letter received -Reliance Media Works sent objection letter to Fame management -Letters states Reliance made unconditional offer at Rs 80/share -Letter states sale to INOX at Rs 44/share blatantly understated

IPOs Hathway -Hathway IPO opens today, issue of 2.77 cr shares in a price band of Rs 240-265 -Gets anchor investors for 4.99 million shares at Rs 240/share -Investors include Franklin India, DSP Blackrock, Reliance Capital, Copthall Mauritius, Treeline Asia

GMR looks to raise Rs 1,500 cr from PE cos: Bangalore-based GMR Infrastructure is in advanced discussions with a couple of private equity funds to raise nearly Rs 1,500 cr for its power subsidiary GMR Energy, to enable it to fund its planned expansion.

Wadias look to raise stake in Bombay Dyeing via warrants: The promoter Wadia family at Bombay Dyeing — a textile company, which also owns vast tracts of land in Mumbai — is considering raisingits stake through a preferential issue of warrants. In a communique to the Bombay Stock Exchange, Bombay Dyeing said its board is meeting on February 10 to approve a proposal for the issue of warrants.

Sobha promoter PNC Menon sells 4% stake in co: PNC Menon, the chairman of Sobha Developers and its main promoter, on Monday sold some of his holdings in the company to Temasek for about Rs 100 crore. He is also negotiating to sell some of his stake in the group’s unlisted technology arm to the existing management. Mr Menon, who is based in Dubai, sold a 4% in Sobha Developers in the market on Monday cutting his stake in the company to 12.7%. The shares were sold for Rs 251. The reason for the stake sale is not known.

Texmo -Texmo Pipes and Products IPO opens on February 16, closes on February 19, price band Rs 85-90/sh

Subex board approves issue of up to 6 million shares to promoters at Rs 80/share ((CMP: 60))

Gulf Oil India board approves selling entire stake in its subsidiary IDL Specialty Chemicals ((IDL recently sold API biz to Biocon and was left with no major biz))

WHO says November inspection of Ranbaxy’s Paonta Sahib plant found no problems at site

RBI cracks the whip, say no to further rejig of realty loans, asking developers to lower rates and clear inventories to pay lenders

Pantaloon plans to spin off 5 of its brands and merge with Capital Foods

Govt mulls domestic sugar ban for bulk users to check prices

Asian Oil Field open offer at Rs 61.20/sh ((CMP: 64))

Govt notifies extending duty-free white sugar import till December 31: NW18

Pioneer Embroideries board meet today for preferential issue

Nuchem board approves selling property at Faridabad subject to approval from IFCI

ARSS Infrastructure Projects Ltd …! IPO View: Subscribe

ARSS Infrastructure Projects Ltd …!

Msearch IPO View: Subscribe

ARSS Infrastructure Projects Ltd (ARSS), a Orissa based construction company, incorporated in 2000. It is basically engaged in construction activities under sector like railway infrastructure, roads, highways, bridges & irrigation projects.

MView: At the IPO band price, the stock will trade at 7.5x on the lower price band and 8.23x on the upper price band based on the earnings expected for the full year reported for 201003E (on Post equity basis), which is on discount to many other players in the same or related construction midcap stocks making it an attractive investment option. However, it has a robust order book which is to be executed over 18-24 months, resulting to 4.61 times FY 09 sales thus indicating good future earnings potential. Given superior segmental growth and its business prospects over the next few years, the stock appears attractive. Thus, we recommend investors to “SUBSCRIBE” the issue.

BOR: Market Outlook: Indian markets may witness a corrective bounce back buoyed by a recovery in the US & Asian markets.

Market Outlook: Indian markets may witness a corrective bounce back buoyed by a recovery in the US & Asian markets. It fell steeply in the last few days and now some upside can be seen as Investors are feeling comfort to enter the market at this levels. Domestic institutions like MF’s & Insurance companies would start investing now as good some of investment will be collected under tax saving scheme & would be deployed in the markets which can bring some support to carry markets on the positive side.

Global Events to watch for today

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

Global indices Update @ 8:

Dow Jones : 10012 (+10.05)

NASDAQ : 2141 (+15.69)

Nikkei 225 : 10007 (- 48.11)

Hang seng : 19577 (- 87.81)

SGX CNX Nifty : 4725 (+21.50)

INR / 1 USD : 46.56

On the global counter: US mkts end with marginal gains; Dow up 10 points. US jobs data, which showed US employers unexpectedly cut 20,000 in January, but the unemployment rate surprisingly fell to a five-month low of 9.7%.

Stock in action for the day: Rel MediaWorks, Inox, Kingfisher Air, Ansal

Jubilant Foodworks lists today Jubilant Foodworks Q3 -Income up 50% at Rs 117.4 crore -Net profit up at Rs 11.4 crore versus Rs 1.8 crore Jubilant Foodworks FY10 Guidance -Sales seen at Rs 415-420 crore -EBITDA seen at Rs 65 crore -PAT seen at Rs 32 crore, EPS at Rs 5 -((Market cap of Rs 923 crore, at issue price, PE = 29 times and Mcap/sales=2.2 times))

Reliance MediaWorks objects Inox’s acquisition of Fame, says the price was lower than a competing bid of Rs 80/sh from it

Govt drops Bank M&A plans following adverse views from RBI and political quarters

Kingfisher Airlines hires US firm to restructure and improve its operational and financial performance

ICICI Pru arm to take 40% in Ansal realty project in Ghaziabad.

ARSS Infra's IPO: Investors are advised to subscribe: RSS Infrastructure carries out activities such as laying new rail tracks, construction of rail and road bridges, signaling/telecommunication ARSS Infra work for railways, widening of roads, strengthening and repair of railway infrastructure, highways, bridges and irrigation projects. It began as a construction company catering to railway infrastructure projects, operating mainly in Orissa. Thus ARSS leaves enough scope of upside for the investors. The fact that the company’s networth will increase after the issue, growth in revenue will be good. Moreover, as government spending on infrastructure is bound to increase and with an established track record of executing government orders, the future for ARSS looks bright.

Aviation sector investors could look at SpiceJet stock: The Dec ‘09 quarter results highlighted the the viability of the low-cost carrier (LCC) model. SpiceJet, the leading LCC operator recorded net In the air profit of Rs 105 crore in Dec ‘09 quarter compared to a net loss a year ago. SpiceJet fared much better than Jet Airways despite being a much smaller niche player. We believe that in the coming quarters, it would continue its stellar performance given its focus on LCC model. Long-term investors are advised to accumulate the stock at current price.

NTPC FPO subscribes fully, retail investors shy away!: National Thermal Power Corporation (NTPC) has been fully subscribed on close. The issue which closed on Feb.5, 2010 was subscribed 1.2 times. The QIB segment was subscribed 2.18 times while retail investors subscribed only 0.25 times. The company had launched FPO of 4,122 million equity shares.

McNally Bharat bags orders worth Rs 566.4 mn: McNally Bharat Engineering Company announced that it has received two orders worth Rs 566.4 million. The project work of the first order includes design, engineering, supply of equipment, under loading, storage, handling, erection testing and commissioning and structural work at site of an HDPS system for Aditya Aluminium Smelter Project of Hindalco for a total value of Rs. 283.2 million.

Maruti looks to drive out of Suzuki's shadow, ramp up R&D for solo show: Maruti Suzuki, the country’s largest carmaker, recently outgrew its Japanese parent in sales. The company, whose products have been Maruti Suzuki driven by Japanese engineers for quarter of a century, now plans to do one better than Suzuki Motor Corp in research and development (R&D). Maruti, 54.2% owned by Suzuki, aims to grow out of its parent’s lingering R&D shadow by propping up an ambitious project that it hopes will earn it independent manufacturing capability.

Hathway Cable’s IPO: Bet for investors: Hathway Cable & Datacom is entering the capital market with an offer of close to 2.7 crore shares at a face value of Rs 10 each. Established Hathway Cable in 1995, the Rajan Raheja Group promoted company is a leading cable television services provider in India offering analogue and digital cable television services across 125 cities. It also provides high-end cable broadband services in 18 cities. It is a well known brand among broadband service providers and has around 3,22,000 subscribers as of the December 2009 quarter.

BOR: Market Outlook: Indian equities are likely to extend losses today as US jobless data rattled world markets.

Market Outlook: Indian equities are likely to extend losses today as US jobless data rattled world markets. Once again, the markets are near the lower end of the support band of 4,800 / 4,765 on negative global cues. The short-term trend continues to remains weak as huge sell-off seen in the range of 4,920 / 4,950 region.

Global Events to watch for today

• Employment Situation
• Consumer Credit

Global indices Update @ 8:

Dow Jones : 10002 (- 268.3)

NASDAQ : 2125 (- 65.48)

Nikkei 225 : 10062 (- 293.3)

Hang seng : 19735 (- 606.1)

SGX CNX Nifty : 4711 (- 127.5)

INR / 1 USD : 46.09

On the global counter: Asian mkts nosedive on free fall in US; Shanghai dips 2%: The Dow briefly fell below the crucial 10,000 mark on Thursday as stocks suffered their worst losses in more than nine months. Escalating sovereign debt problems in Europe and an unexpected rise in jobless claims put investors on the defensive just ahead of Friday's crucial payrolls report.

Stock in action for the day: Essar Oil, Advanta, GTL, Fame India, Mahindra & Mahindra

ACC & Ambuja: Boom in infra, housing to drive growth: The two Holcim-controlled cement companies ACC and Ambuja Cements, reported December 2009 quarterly results broadly in line with market expectations, thanks to their presence in the northern and eastern markets. This helped to offset the difficult operating environment in the southern region in third quarter of FY10, where players have seen a dip in realisations on a y-o-y basis due to rapidly expanding capacity.

GTL plans NCD issue to raise Rs 1,400 crore: Network services provider GTL is raising Rs 1,400 crore through non-convertible debentures (NCDs) to invest in green energy products and solutions for telecom infrastructure that can bring down costs for telecom operators. The NCDs offer a coupon rate of 8%.

Rajesh Exports a tad too pricey: The third quarter results of Rajesh Exports, one of the leading jewellery manufacturers and distributors, seems to have caught the market attention of investors given a more than eight per cent rise in the stock price in the past three trading sessions.

M&M in global tie-up talks for premium bikes for Indian mkt: Mahindra & Mahindra (M&M) is understood to be in discussions with Italian and British two-wheeler players to develop premium bikes for the Indian market. Top officials close to the development said Triumph and Moto Guzzi are some of the companies that M&M has held talks with.

Sun barred from Taro warrant conversion: Sun Pharma’s near two-year legal battle with Taro board to get control of the drug maker is set to drag on, as the Israeli Supreme Court has directed the Indian company not to convert its warrants into shares which would have raised its stake to 41%, from the current 36%.

Essar Oil plans to increase petrol pumps to 2,000 soon: Essar Oil, India’s largest private fuel retailer, plans to increase its number of petrol pumps to 2,000 in the next few months from 1,450 currently. The announcement came immediately after the Kirit Parikh committee’s suggestion to free petrol and diesel pricing. Private sector oil companies — Reliance Industries (RIL), Essar Oil and Shell India — could benefit the most if the recommendation is implemented.

Reliance Capital Partners buys 1.19% stake in Fame India: Reliance Capital Partners bought 1.19% stake in Fame India for an aggregate amount of Rs 20.01 million. Reliance Capital Partners bought 0.41 million shares of Fame India at Rs 20.01 million. Fame India runs single screens and multiplexes under the brand name Fame.

Vishal lenders, promoters meet next week to break impasse: Vishal Retail promoters and lenders will meet next week to sort out the differences over management changes and other modalities of the corporate debt restructuring (CDR) process. Vishal went in for CDR in November last year.

Tata Steel waits for revision of land acquisition act Tata Steel will not make any deal directly with the landowners to purchase land for its Greenfield steel plant in Jharkhand as the steel major feels that it would create mafias and deprive the landowners from their rights which expected to be incorporated in the proposed amendments to the Land Acquisition Act to be tabled in Parliament shortly.

Godrej appliance eyeing 40% growth in North India market Godrej appliance is targeting 40% growth in home appliance category in the rth India market. The North India market comprises Punjab, Haryana, Himachal Pradesh, Jammu and Kashmir and the Union Territory of Chandigarh. Godrej Appliance General Manager (North) Ramandeep Singh Trehan said the company was bullish over the growth prospects in appliance categories in 2010-11.

Unhappy FDA tells Ranbaxy to review units The US drugs regulator has asked Indian pharma company Ranbaxy to immediately assess the manufacturing practices at its plants that make drugs for the American market, saying the company has failed to adequately address the concerns raised by it earlier

Advanta in action on the back of news says acquisition of USbased Crosbyton Seed Co:

L&T, EADS revive JV plans; to tweak equity structure to clear FDI

Mahindra aims to take on Tata Ace with new Maxximo

BOR: Market Outlook: Indian equities may open flat tp negative tracking mixed cues from global counters.

Market Outlook: Indian equities may open flat up negative tracking mixed cues from global counters. However, we feel that the current trend is positive and one should look to buy at every dip. Nifty has support at 4800-4830 and resistance at 4950-5000.

Get set to pay more for petrol, diesel: After food items, it is the turn of motor fuels to burn a bigger hole in pockest. An increase of at least Rs 3 a litre in petrol Oil and Re 1 in diesel prices appears very likely around the budget as the government nears the end of its capacity to extend a financial lifeline to state-run oilmarketers.

Global Events to watch for today

• Chain Store Sales
• Employment Index
• Jobless Claims

Global indices Update @ 8:

Dow Jones : 10270 (- 26.30)

Nasdaq : 2190 (+00.85)

Nikkei 225 : 10353 (- 50.82)

Hang seng : 20456 (- 265.2)

SGX CNX Nifty : 4892 (- 29.50)

INR / 1 USD : 46.04

On the global counter: US mkts snap 2-day winning streak; copper slips 4% while Asian mkts trades lower on profit booking. The US markets snapped a two-day winning streak after tepid reports on employment and the services sector. The indices closed flat. Pfizer, one of the prior session's best performers, was the biggest drag on Dow after the drug maker's earnings and outlook fell short of expectations. In economic news, the ISM Non-Manufacturing index rose to 50.5 in January from 49.8 in December, but fell short of expectations. On the jobs front, ADP reported that 22,000 jobs were lost from private payrolls in January.

Stock in action for the day: NTPC, Grasim, Guj Ambuja, Inox

Investors smell a profit, sell NTPC futures, apply in FPO: Open interest in NTPC February futures shot up 10 per cent on Wednesday to 2.57 crore shares, as high net worth individuals (HNIs) and retail investors attempt to pocket risk-free gains by going short on the futures and hedging that position by applying for an equivalent amount of shares in the ongoing follow-on public offering (FPO) of the utility company.

FIs lap up Bharati Shipyard on open offer: hopes Institutional investors have turned active in Bharati Shipyard shares amid speculation that the company may eventually go for a second open offer, after hiking its stake to nearly 46 per cent in oil and gas drilling services firm Great Offshore through the recently-completed open offer and subsequent secondary market acquisitions.

Birlas line up Rs 7k cr to ramp up cement play: India’s two largest cement groupings are fighting it out for the top slot. The Aditya Birla group, which is in the process of merging the cement business of two of its companies, Grasim and another firm called UltraTech to create the country’s largest cement maker, has firmed up investment plans to take on arch rival, Holcim.

Hemendra Kothari buys Guj Ambuja's 12% in ING Vysya Life: Hemendra Kothari, the owner of financial services company DSP, has purchased Gujarat Ambuja’s 12% stake in ING Vysya Life Insurance Company. The purchase is not a strategic one and is an investment by Mr Kothari in his personal capacity.

Fame takeover to increase Inox's debt burden: Inox Leisure’s acquisition of a 43 per cent stake in Fame India has triggered speculation regarding an impending consolidation in the multiplex industry. he speculation has been fuelled by the fact that most exhibitors continue to bleed cash even after a decade in the business. For most multiplex owners, the recurring expenditure on capex and working capital is more than the cash profit, leaving virtually nothing on the table for for shareholders.

Inox buys 43% stake in Fame, open offer soon: nox Leisure, a company owned by Gujarat Fluorochemicals Ltd (GFL), on Wednesday, announced that it had acquired the 43.28% promoters’ stake in Fame India for Rs 66.48 crore in an all cash transaction. The deal which values Fame at Rs 153.6 crore, will mark the exit of the Shroff family from the multiplex business. The transaction, which was executed through a block deal at Rs 44 per share, will now make the Inox-Fame entity the second largest player in the Indian multiplex industry in terms of number of screens.

Titan Industries: Volume game likely to bring in rewards: Titan Industries’ stock has been buzzing at the Dalal Street ahead of its December quarter results. In fact, it is only in the past one month that the stock has beaten the Sensex because over the long term it remained a laggard. Titan Industries, which grossed Rs 1,334 crore in the third quarter of FY10 in revenue, sells watches, jewellery, eyewear and precision engineering accessories. This was a 30% year-on-year (y-o-y) growth, aided by a 33% and 25% growth in jewellery and watches segments. The combined effect of reduced volatility in gold prices and festive demand pushed up jewellery sales. Going forward, the company expects to grow its Sonata brand in the watches segment, as it is a high-volume game. At Rs 1,665 and an annualised EPS of Rs 63.5 for FY10, the stock is valued at 20.2x its earnings and it has a potential for further upside for investors holding the stock.

BOR: Market Outlook: Indian markets is likely to edge higher today tracking the optimism across global markets on encouraging US home sales data...

Market Outlook: Indian markets is likely to edge higher today tracking the optimism across global markets on encouraging US home sales data and quarterly earnings. Nifty has support at 4766-4800 and resistances are at 4950-4980. Investors need to watch for these levels before taking any fresh long positions.

Global Events to watch for today

• MBA Purchase Applications
• Challenger Job-Cut Report
• ADP Employment Report
• Treasury Refunding Announcement
• ISM Non-Mfg Index

Global indices Update @ 8:

Dow Jones : 10296 (+111.3)

Nasdaq : 2190 (+18.86)

Nikkei 225 : 10400 (+29.51)

Hang seng : 20469 (+197.0)

SGX CNX Nifty : 4846 (+28.00)

INR / 1 USD : 46.25

On the global counter: Wall Street ends higher; S&P 500 closes above 1100 mark and Asian markets trading firm; Hang Seng, Nikkei up. After a shaky start, the Dow logged its second straight triple-digit gain, the S&P 500 jumped back to the 1100 mark. Some encouraging earnings report, positive pending home sales data and strong auto sales from Ford led the upmove. Ford's sales rose 35% in January, helping it gain about 2% more market share. However, Toyota reported a nearly 9-percent decline in sales.

Stock in action for the day: Puravankara, RComm, Fin Tech, JSPL, BoI

NTPC FPO open today to February 5th; floor price at Rs 201/share

IPO update: DB realty (closed) -Total subscription at 2.95 times (X) -QIB at 4.46X, NII at 4.24X, Retail at 0.366X

Aqua Logistics (closed) -Total subscription at 1.94X -QIB at 0.258X, NII at 5.06X, Retail at 3X

Emmbi Polyarns (closes today) -Total subscription at 0.99X -QIB at 0.365X, NII at 5.26X, Retail at 0.05X, employee at 0.003

Sugar quota: Source says Govt may ask mills to sell sugar quota on weekly basis: -Govt says mills to report actual sugar sale, despatch on weekly basis:

Steel price hike: SAIL hikes steel prices on flat products by Rs 500/tonne -Essar Steel, JSW Steel hike prices on flat products from February 1 -Prices on long products remain unchanged -Tata Steel has not yet hiked prices; may follow suit

Bank of India's NPA woes: -One A/c responsible for rise in NPAs is Paramount Airlines; has Rs 200 crore exposure -Paramount Airlines unable to pay interest to BoI for over 2 quarters-BoI contemplating to take legal action; has board approval -BoI has provided 20% for its exposure to Paramount Airlines No response from BoI or Paramount Airlines

E&P Offshore Royalty:-Centre considering sharing E&P offshore royalty with states -Draft Cabinet note on move being examined by Finance Ministry; final call to be taken by Finance Ministry -If accepted, proposal could figure in Budget 2010-11

Great Offshore defers fund raising plan: Integrated offshore oil field services provider Great Offshore on Tuesday said it has deferred its plan to raise funds through the issue of securities.

Siemens plans Rs 1,600-cr capex: German engineering giant Siemens will invest Rs 1,600 crore in India in the next three years to build a production unit for wind turbines, besides other engineering products in the country. The growth of emerging economies including India is remarkable and these countries will prosper in 2010 and beyond. India has the people, the products and the innovation power.

UCO to hit the St in new fiscal: UCO Bank, which recently received clearance from the finance ministry for a follow-on public offer, has indicated that it will hit the equity market in the new fiscal. The Uco board has also cleared the plan to issue 6-crore equity shares at face value of Rs 10 per share with a suitable premium. Following the exercise, the government holding in Uco will reduce to 57.33% from 63.59% now. According to bank estimates, it may end up mobilising around Rs 400 crore.

Astec Lifesciences: FY10 profit at Rs 15cr: Management looking to close the financial year with sales of around Rs 115 crore, this would represent a growth of about 30% over the previous year.

Rocklands slumps 22% after ending takeover talks with Jindal Steel; Indian company’s bid was commercially unacceptable.

Citi to sell 5% in MCX to Ashmore for Rs 185 crore ((FT in focus))

Infinite Computer Solutions to list; issue price at Rs 165, raised Rs 190 crore

Reliance Communications finds little interest in sale of Flag business worth USD 3 bn

Puravankara to bid for airports, subsidy scouting for foreign partner:

Some procedural aspects of Direct Tax Code may figure in Budget 2010-11:

Venus Remedies launches India's First Infusion FDC antibiotic to fight GI infections

Electrosteel Casting sets QIP floor price at Rs 49.65/share

BOR: Market Outlook: Indian markets will have positive opening today on the back of recovered global sentiments.

Market Outlook: Indian markets will have positive opening today on the back of recovered global sentiments. Nifty has support at 4800 and resistances are at 4950-5000. so far trend holds on negative sentiment on broader market with strong support at seen near 4800, while for today we may see some upside now, but we advise to be cautious and watch the crucial support and trade.

Global Events to watch for today

• Motor Vehicle Sales
• ICSC-Goldman Store Sales
• Pending Home Sales Index
• 4-Week Bill Auction

Global indices Update @ 8:

Dow Jones : 10185 (+118.2)

Nasdaq : 2171 (+23.85)

Nikkei 225 : 10396 (+191.4)

Hang seng : 20483 (+240.1)

SGX CNX Nifty : 4945 (+44.00)

INR / 1 USD : 46.34

Wall St gains on strong earnings and positive mfg data & Asia trading higher; Shanghai Composite, Hang Seng up In encouraging economic data, the ISM manufacturing index for January hit a 5 year high of 58.4, which is stronger than expected 55.5. Personal income and spending rose, while construction spending fell 1.2% for the month of December. Also, the white house yesterday revealed its 2010 budget, which showed the deficit is likely to soar to 1.56 trillion dollars this year, but falling to half that by the time President Obama's term ends in 2012.

Stock in action for the day: NTPC, Suzlon, GNK power, Alok Industries, Mercator lines & Cox & Kings

Govt fixes NTPC's follow-on offer price at Rs 201 a share: The government fixed the benchmark price for the proposed divestment of NTPC at Rs 201 per share, which is a 5% discount to Monday’s last closing price of Rs 211.25 on the Bombay Stock Exchange (BSE). Depending upon the response, the government would mop up a minimum of Rs 8,286 crore from divestment of 41.22 crore shares, or 5% of the existing paid-up capital of the company. Post-issue, the government holding in the company came down to 89.5% of the expanded capital of the company, which will come down further to 84.5% after the proposed FPO. NTPC, with an installed capacity of over 31,134 MW is expanding its capacity by 22,000 MW by the end of the 11th Plan period (March 2012) to become a 50,000-MW company.

Suzlon looks to sell its 26% stake in Hansen: Suzlon Energy plans to sell its entire 26% stake in its Belgium-based gearbox technology unit, Hansen Transmissions International, as India’s largest wind turbine maker doesn’t see major benefits arising from retaining the shareholding in Hansen.

GVK Power secures Rs 2,400-crore for Punjab project: GVK Power (Goindwal Sahib), a wholly-owned subsidiary of the Hyderabad-based GVK Power today said it has tied up Rs 2,400 crore for its power project in Punjab.

Suzlon unit gets 295-MW wind farm project: Wind turbine manufacturer Suzlon Energy today said one of its units, REpower System AG, has received a contract from Germany based-RWE Innogy to deliver 48 wind turbine farm projects.

Alok Industries to sell properties to raise funds, cut debt: Textiles maker Alok Industries Ltd , said it plans to sell its real estate portfolios to raise funds and retire debt, in the next one-and-a-half to two years would get a net inflow of 7 billion rupees.

Auto sales surge on robust demand: India’s automobile sector continued its brilliant run into the new year with carmakers led by market leader Maruti Suzuki posting impressive sales figures in January, helped by eager buyers trying to preempt a possible increase in prices. Maruti Suzuki posted a 33% increase in sales to a record 95,649 vehicles in January, helped by booming exports. The second largest carmaker, Hyundai Motor India, reported a 42% growth in sales to 52,635 vehicles last month from 37,171 units in January 2009. Tata Motors, posted a 43% jump in sales to 28,547 cars, including 2,302 cars of its Italian JV partner Fiat India. M&M saw its sales jumping 52% to 20,332 units as demand for multi utility vehicle Bolero and pick-up trucks remained robust in rural markets. GM India made a comeback of sorts and recorded a 139% growth in sales to 9,421 vehicles in January 2010 over the year-ago period.

Mercator lines up Rs 460 cr to buy five tanker ships: India’s second-largest private shipping company Mercator Lines is looking at adding four to five ships in the tanker segment over the next three months as prices of vessels have crashed up to 50% from their peak two years ago. The company will also expand its dry bulk fleet by adding three ships over the next one year, besides augmenting its drilling capabilities.

Zylog buys Canadian firm for Rs 150 cr: Zylog Systems, Chennai-based Global technology integrator and business solution provider with more than 2,000 employees worldwide, has announced the acquisition of Brainhunter, a consulting and engineering services company in Canada for C$35 million (Rs 150 crore).

Rel Cap Q3 net drops 52%: Anil Ambani Group firm Reliance Capital on Saturday reported a 52% decline in its consolidated net profit at Rs 63 crore for the third quarter ended December 31, 2009.

Cox & Kings profit up 88% at Rs 19 cr: Travel operator Cox & Kings India on Monday posted a jump of nearly 88% in net profit for the October-December quarter at Rs 19.28 crore against Rs 10.26 crore clocked in the same period last fiscal.

Kalpataru Power net rises 121% on order flow gains: Kalpataru Power Transmission (KPTL)’s profit after tax (PAT) has vaulted 121% to Rs 44 crore in Q3 FY10. The company had clocked a PAT of Rs 20 crore in the year-ago period. Revenue in Q3 FY10 increased 72% to Rs 716 crore as compared to Rs 417 crore in the year-ago period.

Emami Q3 net rises to Rs 78 cr: Fast moving consumer goods (FMCG) company Emami on Monday reported a Rs 78-crore net profit for the third quarter ended December 31, 2009, which is nearly twice its Rs 40 crore net in the earlier corresponding period. The higher profit is courtesy the company’s integration with Zandu and its market penetration across the world market.

GVK Power mops up funds for Punjab plant: Hyderabad-based infrastructure company GVK Power and Infrastructure (GVKPIL) has managed to arrange funding for its 540 mw coal-based power plant in Punjab.

BOR: Market Outlook: Indian markets is likely to witness a weak start today as global cues continue to weigh sentiment.

Market Outlook: Indian markets is likely to witness a weak start today as global cues continue to weigh sentiment. Nifty has support at 4766-4800 and resistances are at 4930-5000.

We have almost well done with the result counters for the Dec09 quarter, Revenue growth of the Sensex companies has regained (in double digits) after four straight quarters of sub 10% increase over the corresponding year-ago periods. The real push to bottomline performance is coming from lower interest cost, which has shrunk after eight straight quarters of double-digit increase. The group of 29 Sensex firms (ACC has not disclosed its quarterly results) to have announced results for the three months period ended December 2009 have reported total net profit (adjusted for one-time extraordinary items) growth of 20%, the best in at least two years.

Global Events to watch for today

• 2-5-7 Yr Note Settlement
• Personal Income and Outlays
• ISM Mfg Index
• Construction Spending

Global indices Update @ 8:

Dow Jones : 10067 (- 53.13)

Nasdaq : 2147 (- 31.65)

Nikkei 225 : 10158 (- 39.08)

Hang seng : 19975 (- 146.9)

SGX CNX Nifty : 4860 (- 26.50)

INR / 1 USD : 46.37

Stock in action for the day: Wipro, PFC, Gitanjali, Ashok Leyland, Sun Pharma & Educomp Solutions

Wipro, GE pact may open gates for $1-billion deal: ndia’s third-biggest software exporter Wipro has been empanelled by General Electric as one of the outsourcing vendors as part of a master services agreement (MSA) signed between the companies recently.

Actis to sell stake in Nilgiris Dairy Farm: Private equity fund Actis has decided to sell its stake in Nilgiris Dairy Farm as an escalating dispute with the southern retail firm’s former promoters threatens to derail the company’s plans and harm the private equity fund’s over Rs 300-crore investment.

PFC to raise USD 300 million through ECB: State-owned PFC, the financial institution for lending to the power sector, will soon tap the global debt market to raise USD 300 million.

Lodha gets Sebi nod for Rs 2,790-cr IPO: Mumbai-based realty firm Lodha Developers has received market regulator Sebi’s approval for its Rs 2,790-crore initial public offer (IPO) by diluting up to 15% from its post-issue paid up capital., which is expected to hit the market in the next four to five weeks.

Electrotherm races ahead with Yobykes: Electrotherm India (EIL), makers of Yobyke and India’s largest manufacturer of electric battery operated two-wheelers is in race with Yobykes a rival brand.

Educomp Solutions in action on better Q3 numbers The company's Q3 consolidated net profit was up at Rs 61.2 cr vs Rs 31.8 cr. Its consolidated net sales were up at Rs 260.1 cr vs Rs 189.5 cr.

Punj Lloyd bags Rs 1100cr highway EPC contract;

Gitanjali Gems Q3 net profit at 39 pc: Gitanjali Gems, the flagship company of Gitanjali Group has posted 39 percent jump in net profit at Rs 41 crore in the third quarter of 2009-10. The company's jewellery sales turnover rose by 60 percent to Rs 1,098 crore in Q3 FY 10

Ashok Leyland net zooms 450%: Hinduja group flagship Ashok Leyland (ALL) posted a spectacular performance in the third quarter ended December 31, 2009, with a 450% jump in net profit at Rs 104.6 crore against Rs 18.9 crore in the same period in the previous year. Net sales spurted by 81% to Rs 1815.5 crore (Rs 1,004.5 crore).

Sun Pharma profit falls 17% on losses from US operations: Sun Pharmaceuticals, the country’s most valued drugmaker in the stock market, on Friday said it has taken a series of steps to mitigate and resolve its ongoing problems with the US drug regulator Food and Drugs Administration (FDA), even as its profit fell 17% to Rs 339 crore for the quarter ended December over the year-ago period due to losses in its US arm.

Suzlon Energy, the world`s third largest wind turbine maker, swung to profit in third quarter of financial year 2009-10. During the quarter, it posted consolidated profit of Rs 141 million as against loss of Rs 648.70 million in the same period last year. It reported a drop of 19.52% y-o-y in consolidated revenues to Rs 55.90 billion.

Delhi-based Unitech, India`s second-largest real estate developer, reported a rise of 29.37% y-o-y in consolidated net profit to Rs 1.76 billion for the quarter ended Dec 31, 2009. It posted a growth of 57.65% y-o-y in consolidated revenues to Rs 7.74 billion.

Pune based Thermax, a leading in energy and environment solutions provider, reported a 21.84% y-o-y drop in standalone net profit for the quarter ended December 2009 to Rs 565.07 million. Total income for the quarter fell 5.17% to Rs 7,556.12 million, when compared with the prior year period.

Videocon Industries disclosed a 2.18 times jump y-o-y in standalone net profit for the quarter ended December 2009 to Rs 1.32 billion. Total income for the quarter rose 35.07% to Rs 28,103.80 million, when compared with the prior year period.

Shipping Corporation announced a 52.84% y-o-y drop in standalone net profit for the quarter ended December 2009 to Rs 874.40 million. Total income for the quarter fell 18.27% to Rs 9,822.40 million, when compared with the prior year period.

Q3 performance of Anil Dhirubhai Ambani Group companies: Reliance Communications (RCom) registered a drop of 21.43% y-o-y in consolidated net profit to Rs 11.08 billion for the quarter ended Dec 31, 2009. The nation`s second largest telecom service provider reported a fall of 9.24% y-o-y in consolidated revenues to Rs 53.10 billion.Reliance Infrastructure announced a 10% y-o-y rise in net profit for the quarter ended December 31, 2009 to Rs 2.77 billion. Total operating income stood at Rs 22.87 billion, registering a y-o-y drop of 15.86%. Reliance Capital reported a drop of 52% y-o-y in consolidated net profit to Rs 631.80 million for the quarter ended Dec 31, 2009. The nation`s third largest private sector financial group (in terms of net worth) reported a y-o-y fall of 6% in consolidated revenues to Rs 14.85 billion

RBI raises CRR by 0.75 per cent

The Reserve Bank of India raises Cash Reserve Ratio by 75 basis points at 5.75 per cent.
RBI, however, has kept the repo and reverse repo rates unchanged at 4.75 per cent and 3.25 per cent, respectively.

CRR hike of 75 basis points in two trenches will suck out liquidity to the tune of Rs 36,000 crore (Rs 360 billion) from the system.

As a result of the CRR hike, home, personal and car loans are likely to rise.

The Indian economy will grow by 7.5 per cent this fiscal,The central bank also raised the nation's inflation projection to 8.5 per cent by this fiscal-end.