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

Market Outlook: Indian markets may have flat to negative opening today on the back of mixed performance on the global counters. US stocks fell on Friday after a surprise move by China to restrict bank lending to cool its surging economy. Back in India Pre budget expectation will result in stock specific movement & monthly wholesale price index for January will be released on Today. Nifty has supports at 4730-4750 and resistances are at 4870-4900.

Global Events to watch for today

• US Holiday: Presidents' Day

Global indices Update @ 8:

Dow Jones : 10099 (- 45.05)

NASDAQ : 2183 (+06.12)

Nikkei 225 : 10051 (- 40.73)

Hang seng : 20286 (- 22.00)

SGX CNX Nifty : 4840 (+07.50)

INR / 1 USD : 46.46

On the global counter: Wall St tumbles as China tightens bank rules. US stocks fell on Friday after a surprise move by China to restrict bank lending to cool its surging economy weighed on commodity prices and resource shares. The hike by China in bank reserve requirements is the second increase in as many months and raised worries about the impact of monetary tightening on global growth.

Stocks in action for the day: Bharti, Jaihind Projects, GSS America, Emami

Zain African buy to fire Bharti's global ambitions: The board of Kuwait’s Zain Telecom has accepted a $10.7-billion (Rs 49,700 crore) offer from Bharti Airtel for the bulk of its African assets, breathing new life into the Indian company’s cherished ambition of transforming itself into an emerging-market multinational.

Jaihind Projects bags Rs 11 bn contract Ahmedabad-based leading engineering, procurement and construction (EPC) company-Jaihind Projects Limited-has bagged a contract worth Rs 11 billion for the execution of the water transmission system from Taif to Al Baha in Saudi Arabia.

GSS America to raise Rs 3.5 bn for buyouts GSS America Infotech, a Hyderabad-based enterprise application integration (EAI) and infrastructure management services (IMS) company, is planning to raise up to USD 75 million (approximately Rs 3.5 billion) through various instruments like qualified institutional placement, foreign currency convertible bonds, global and American depositary receipts to fuel its inorganic growth plans.

Arvind to scale up organic denim biz Subir Mukherjee is on his toes ever since he got a call from global retailer Wal-Mart about three months back. Handling export orders for its denim division since over a decade now, the marketing and export commercial head of the Rs 25 billion Ahmedabad-based Arvind was ecstatic when he realised that he was sitting on order books close to USD 4 million, exclusively for organic denim.

Emami inks bag co-branding deal with Disney The Rs 20 billion Emami group has entered into a co-branding deal with Disney Consumer Products (DCP) to manufacture and market a portion of Disney`s `Back to School` range of products in India.

Emami hikes stake in Rama Newsprint to 5%: FMCG major Emami Group has silently scaled up its holding in Rama Newsprint & Papers (RNPL) — an SK Bangur group-company, with interests in paper, paper boards and telecom cables — by a percentage point to roughly 5%. Top honchos of the Kolkata-based group termed the move as a strategic investment only.

American Tower closes in on Essar Tele Infra, may seal deal for $425 mn: USA’s biggest independent tower firm American Tower (ATC) is close to acquiring Essar Telecom Infrastructure (ETIPL) for over $425 million (Rs 1,980 crore) as it looks to consolidate its position in the world’s fastest-growing telecom market, which is thriving on leased passive infrastructure.

Hinduja Ventures to acquire IDL Speciality Chemicals Hinduja Ventures on Saturday said its board has approved the acquisition of pharma firm IDL Speciality Chemicals and also decided to enter into a MoU to that effect

Syncom Healthcare listing: The Indore based company has set the issue price at Rs 75 a share as against the price band of Rs 65- Rs 75. It plans to utilize the proceeds for setting up new manufacturing unit at Indore SEZ for various pharmaceuticals formulations; undertaking the upgradation/modernization of manufacturing facilities at Dehradun Plant; working capital requirements; setting up an export office at Mumbai and undertaking brand and product registration and approval. The public issue was subscribed 5.17 times. The subscription was led by non-institutional investors who subscribed 16.60 times the issue. The retail investors on the other hand subscribed 6.25 times.

Vascon Engineers listing : The issue price of Vascon Engineers has been set at Rs 165 a share as against the price of band of Rs 165 – Rs 185 a share. The Pune based company plans to utilize the issue proceeds for construction of EPC contracts and real estate development projects; repayment of debt and general corporate purposes. The public issue of the company was subscribed 1.22 times. Non-institutional investors and qualified institutional investors supported the issue; their reserved portion subscribed 3.65 times and 1.12 times, respectively.

ARSS Infrastructure IPO Receives Tremendous Response, Subscribed 47.6 times: Non-institutional investors were the leading subscribers in this issue. Their reserved portion got subscribed 124.5 times. Qualified institutional and retail investors’ reserved portion subscribed 49.3 times and 18.55 times, respectively.