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 4280-4300 and resistances are at 4440-4480. Some action to be seen in realty cos as FDI lock-in norm would be changed to boost market sentiments. Indian markets are still in buying mode but interestingly has closed against a strong resistance, now the market require a breakout if has to sustain its up move.

Nifty Outlook: Pivot Point: 4331
R1: 4433, R2: 4492, R3: 4593
S1: 4273, S2: 4171, S3: 4113

Results today: JSW Steel, Essar Oil, IDFC, Aptech, BASF India, Era Infra, Indo Rama Synthetics, KPIT Cummins, Merck, Mindtree, Peninsula Land, Sterlite Tech, SPARC, Triveni Engg, Zandu Pharma

On the Global front: US mkts end flat despite good nos from BoA, Citi, GE & Asian markets trading higher; Hang Seng up. After a strong week for Wall Street, US markets ended Friday's trade flat inspite of positive earnings numbers from Bank Of America, Citigroup and General Electric. For the week the Dow and S&P were up over 7%. NASDAQ gained almost 8%. In economic news, homebuilders made good gains after housing starts and building permits data for June came in higher than expected. The Dow added 32.12 points, or 0.4%, to 8,743.94. The S&P 500 index slipped 0.36 points, or less than 0.1%, to 940.38, while the NASDAQ composite index rose 1.58 points, or 0.1%, to 1,886.61.

Stocks in action for the day: RIL, RNRL, TCS, HDFC Bank, Sasken

RIL-RNRL update: Govt asks SC to make it party in RIL-RNRL gas dispute RIL says copy of govt SLP (special leave petition) has been served to company Exclusive: RIL-RNRL case update RNRL to file new counter affidavit in SC to govt’s SLP: Srcs -Alert: Govt has filed SLP in SC to make family MoU (memorandum of understanding) Null and Void RIL to SC: Please direct govt through oil min to become second respondent

Exclusive: Oil Min Sources Say: -KG D-6 production reduced from peak 32 to 29 mmscmd -Reduction due to low offtake power plants during monsoon Govt Affidavit: GoI still has title on natural gas till delivery point

TCS Says: -Forex hedging loss at Rs 85 crore versus Rs 195 crore (QoQ) -Cost management efforts yielded better margins at 24.83% -Q1 volume growth at 3.54% -Earnings/share at Rs 7.83 versus Rs 6.59 (YoY) TCS Q1 (US GAAP) (QoQ) Net profit up 15.9% at Rs 1520 crore versus Rs 1314.3 crore Net Sales up 0.5% At Rs 7,207 crore versus Rs 7,171.8 crore Operating Profit up 5.26% at Rs 1,789 crore

Mint Exclusive:-HDFC Bank pays Rs 131.4 crore to service tax department: Sources-Payment pertains to CENVAT credit taken between 2006-2008: Sources

Hero Honda: -Hero Honda to launch new Karizma by September: -New Karizma to counter new Pulsar 220: Sources

Sasken Q1: -Revenues at Rs 139.5 crore versus Rs 168 crore -EBIDTA at Rs 24 crore versus Rs 44 crore -Net profit at Rs 20.2 crore versus Rs 3.86 crore -Forex gain of Rs 10 crore versus loss of Rs 8.1 crore -Margins at 17.22% versus 26.1%

Allahabad Bank Q1: -Net profit at Rs 302.86 crore versus Rs 93.36 crore -NII at Rs 629.05 crore versus Rs 468.5 crore (up 34.3%) -NIM at 3% versus 2.6%
-EPS increased to Rs 6.78 versus Rs 2.09 -Net NPA reduced to 0.37% from 0.75%

Apollo Hospitals Q1: -Total income at Rs 405.9 crore versus Rs 329.07 crore -Net profit at 44.8 crore versus Rs 29.27 crore -EBIT at Rs 54.57 crore versus 44.35 crore -OPM at 16.65% versus 16.4% -Other income at Rs 14.68 crore versus Rs 3.87 crore

Reliance Industrial Infra Q1 Standalone: -Net sales at Rs 13.65 crore -Net profit at Rs 5.10 crore

Financial Technologies sells 5% in MCX-SX for Rs 250 crore

Engineers India says not aware of govt plan to sell stake in company

Shree Renuka Sugars acquires 5% in NCDEX from Goldman, ICE

Maytas Infra sells stakes in 2 expressways

GKW to resume trading ((after scheme of arrangement))

Excel Infoway IPO subscribed 1.97 times

Raj Oil Mills IPO opens today, offer of 95 lakh shares, price band Rs 100-120 a share