Market Outlook: Indian Equities are expected to open strong following to Asian peers

Market Outlook: Indian Equities are expected to open strong following to Asian peers and may see a higher base after the recent consolidation. The Nifty can gain 100-150 points if it manages to cross 2950. Market expects continued focus on capex in the Rail Budget today and additional stimulus measures in the Interim Budget next week.

Nifty Outlook: Pivot Level: 2906
R1: 2925, R2: 2958, R3: 2978
S1: 2873, S2: 2853, S3: 2821

Indian ADRs: Patni down 7%, Satyam down 4%, HDFC Bank, Tata Motors up 3%

On the Global front: US markets rebound in the final hour of trade following news that the Obama administration is mulling a new plan to subsidize mortgage payments for troubled homeowners. Most stocks ended higher after volatile trade earlier in the session as investors worried that the $ 789 billion stimulus bill working its way through congress may not be enough to help the economy. US Mkts close flat after Obama's likely plan for homeowners while Asian Mkts trading higher; Nikkei up 100 pts

Stocks In Action for the day: Maytas Infra, NTPC, IOC, Gitanjali Jems, Nagarjuna
Const…. Airlines to be under pressure from railway budget.

ü Maytas For Up: Two local companies in race to buy Maytas Infra, IL&FS helping the investors in the process.

ü Airline stock for down: AC-III, general fares may be cut up to 10%

ü Nagarjuna Construction For down: Blackstone won't buy Nagarjuna Construction
warrants in wake in delay in FIPB approvals.

ü NTPC Under Pressure: RIL raises objection to KG gas sale to NTPC

ü IOC For Up: IOC head says seek another Rs 12,000-13,000 crore of oil bonds for FY09:

ü Gitanjali Gems In Action: Gitanjali Gems FCCB conversion price reset to Rs 220 from Rs 275 ((issued FCCBs worth $110 m in 2006))

Stock In News: Satyam. ONGC, ABB, Bharti, Wockhardt and Dabur Pharma.
Alert: Interim Rail Budget today
PC Gupta says government considering all options for Satyam sale; looking at buyer
Exclusive: Sources On Satyam Scam: -Documents of STPI show Satyam proof of exports -Invoices show transactions by Satyam with buyers of software, services
-Highly unlikely that STPI, RBI clearances could have been forged -Strong pointers to siphoning off of funds post 2006 -Forex came in, was duly recorded but then siphoned off
-Bank deposit statements were forged
Azim Premji working to bail out troubled Subhiksha, injected Rs 40 crore recently
Renault may drop plans to set up Chennai plant, Nissan likely to build a smaller facility.
ONGC says OPaL's Dahej Petrochem plan seen operational by Q4 FY12
ABB says double-digit contraction across all segments witnessed in India
Bharti says would be ready to launch 3G services within 6-8 months of auction
Wockhardt says to launch Levetiracetam tablets in the US ((market size $1.07 bn))
BIG TV withdraws from IPL's on-air advertising deal citing discriminatory pricing by Sony: Sources
Dabur Pharma board approves issue of 15.5 lakh shares or 0.99% stake to German co
Bosch plans to close production of some products at Bangalore plant from Feb 16-21
ICI India buyback up to Rs 575/sh opens on Feb 17
Pledge meter:
-JP Associates Promoters Pledged 2.15% Stake
-Omaxe Promoters Pledged 21.95% Stake
-Pantaloon promoters pledged 19.49% stake in co
-Motilal Oswal Promoters Pledged 12.38% Stake
-United Phosphorus Promoters Pledged 0.71% Stake
-Era Infra Promoters Pledged 56.60% Stake
-BPL Promoters Pledged 34.21% Stake In Co
-Temptation Foods Promoters Pledged 34.11% Stake In Co
-Lloyds Steel Promoters Pledged 13.13% Stake
-UltraTech, Grasim, Praj Ind, Mundra Port, Mastek, Aditya Birla Nuvo, Brigade Enterprises say promoters have not pledged any shares