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

Market Outlook: Indian markets may have positive opening today on account of positive global cues. Nifty has supports at 4200-4260 and resistances are at 4400 -4500. Overall outlook for the markets today is that of optimism so far the trend is still intact on the upway, as long as the overseas cues remain neutral / positive.

F&O cues: Market-wide rollover at 77% versus 76% last series

Nifty Outlook: Pivot Point: 4315

R1: 4376, R2: 4415, R3: 4476

S1: 4276, S2: 4215, S3: 4176

Results today: Tata Motors, Bank of India, BPCL, Colgate, Gujarat Alkalies, Voltas, IOC, Welspun Gujarat, IVRCL Infra, Lanco Infra, PVR, BAG Films, IVR Prime, Arvind, Ashapura Minechem

Indian ADRs: ICICI Bank gains 5%, Tata Motors up 4.8%

On the global front: Wall Street ends higher; Dow up 103 points while Asian markets trading mixed; Hang Seng, Nikkei flat. The US markets ended higher on Thursday as crude prices climbed to 65 dollars after an inventory pare-down and the results of the Treasury bond auction eased concerns about government debt. In the day's economic news, new-home sales ticked up 0.3 percent to a seasonally adjusted rate of 352,000 in April, less than expected. March sales were revised sharply lower. The Dow gained 103.78 points, or 1.3%, to 8,403.80. The S&P 500 index added 13.77 points, or 1.5%, to 906.83, and the NASDAQ composite index advanced 20.71 points, or 1.2%, to 1,751.79.

Stocks in Action for the day: DLF, Religare Enter, Siemens, Matrix Labs

Bharti-MTN Deal: -Sources say no firm proposal as yet to sweeten offer -Deal announcement had indicated that offer terms could be revised -Talks to continue for some time, not a serious issue as yet: sources

Matrix Labs in focus ((CMP Rs 196)): -Mylan’s delisting offer ends today, Offer for 3.87 crore shares, floor price Rs 92.88/sh -Mylan had indicated a price of Rs 150/sh for delisting, had clarified can accept shares at higher price -1.51 crore shares tendered so far at Rs 211/sh -Mylan needs at least 2.14 crore shares to take stake to 90%

Siemens: -Siemens to invest Rs 275 crore to expand capacity of steam turbine factory at Gujarat -Siemens AG intends to buy out Areva’s T&D if French company approaches them, deal to include India arm

MSCI India changes effective end of trading today: -Additions: Idea, Bajaj Auto, United Phosphorus -Deletions: Essar Oil, Tata Comm, Unitech, Indian Hotels

Tata Power 09 Standalone: -Net sales at Rs 7,071.52 crore versus Rs 5,915.91 crore
-Net profit at Rs 967.50 crore versus Rs 811.31 crore

Nagarjuna Constructions Q4 -Net Sales down 12.6% at Rs 1095.85 crore versus Rs 1254.07 crore -OPM at 7.44% versus 8.72% -PAT down 27% at Rs 38.20 crore versus Rs 52.63 crore Nagarjuna Constructions FY09 -Net Sales up 30% at Rs 4724.12 crore versus Rs 3635.39 crore -OPM at 9.36% versus 10.94% -PAT up 10.45% at Rs 185.03 crore versus Rs 167.47 crore

QIP meter: Austral Coke board approves QIP / ADR / GDR / FCCB issue up to $200 million

AV Birla group may not buy L&T’s stake in Ultratech

Reliance Power in talks for coal JV with Australian company

DLF promoters plan to sell another 5.5% stake

Tata Motors in talks with Jharkhand government to get land for 300 acre vendor park

GMR Infra SPV wins 181 km Hyderabad-Vijayawada highway project

Religare Enterprises acquires 87.5% stake in Maharishi Housing Development, to infuse Rs 93 crore in company Rishabhdev Technocable public issue open on June 4, closes on June 9, price band Rs 29-33/sh

Aro Granite board meet on June 8 to consider buy back

Rico Auto board meets on May 30 to consider issue of convertible warrants on promoters preferential basis

In T2T from today: Ceat, Emkay, Four Soft, Global Vectra, ITI, Subex, Tata Metaliks

Brawn Pharmaceuticals to resume trading, no circuit filter today

Board meets:

Anant Raj Industries on ADR / GDR / FCCB issue Trading in Jaypee Hotels to be suspended from June 5 ((amalgamation with JP Associates))

Government has decided not to apply area limit of 5000 hectares for SEZ if 2 or more such zones are merged