BOR: Market Outlook: Indian markets are expected to trade under pressure on weak global cues.

Market Outlook: Indian markets are expected to trade under pressure on weak global cues. Nifty has supports at 4900- 4950 and resistances are at 5100-5150. We advice traders not to trade on stock specific and focus on index based trades.

US stocks plunge as trading glitch suspected: US stocks plunged 9 per cent in the last two hours of trading on Thursday before clawing back some of the losses as the escalating debt crisis in Europe stoked fears a new credit crunch was in the making. The Dow suffered its biggest ever intraday point drop, which may have been caused by an erroneous trade entered by a person at a big Wall Street bank

Global Events to watch for today:

• Employment Situation
• Consumer Credit

Global indices Update @ 8:

Dow Jones : 10520 (- 347.8)

NASDAQ : 2319 (- 82.65)

Nikkei 225 : 10295 (- 400.0)

Hang seng : 19994 (- 138.6)

SGX CNX Nifty : 5016 (- 78.00)

INR / 1 USD : 45.40

Stocks in action for the day : PVR, Suzlon, Tata Tea, Shriram Transport, Aurobindo, Moser Baer.....

PVR: Ticket prices could rise by 8-10% this year: Multiplex operator PVR today said that movie ticket prices may go up by 8-10% this year, reports agency source. ``Ticket prices might go up by 8-10% across the circuit in the country this year. You have to maintain your margins. Until and unless you want your margins to be squeezed, you cannot hold it,`` PVR`s group president Pramod Arora told reporters on the sidelines of a conference here today.

Suzlon in talks with Caparo for power deal: Suzlon Energy is in advanced talks with Lord Swraj Paul’s Caparo Group to set up 3,000 mw capacity wind farms over a period of six years, a deal that could bring in around $3 billion to the world’s third-largest wind turbine manufacturing company.

Tata Tea is now Tata Global Beverages: Tata Tea, a part of the Tata group, on Thursday decided to change its name to Tata Global Beverages, to better reflect the group’s international standing and the array of products it sells under different categories. The company, now earns more than 70% of its revenue outside India. The Tata Tea board approved the change in name which will now bring popular global brands such as Tetley, Eight O’ Clock Coffee and other brands under Tata Global Beverages, even as the country’s largest tea company by sales makes the shift toward being a beverages player.

Vedanta net surges 3-fold on strong metal prices: Vedanta Resources, the London-listed metals company, on Thursday said its consolidated net profit for the full fiscal year grew three-fold to $602.3 million (around Rs 2,710 crore as per current exchange rates) from $219.4 million in the corresponding period of the previous year after metal prices surged due to strong demand from users. Total revenue rose 21% from last fiscal year to $7.93 billion in the year that ended on March 31, 2010.

Shriram Transport to raise Rs 500cr via retail NCDs: Commercial vehicle lender Shriram Transport is planning to raise Rs 500 crore, including Rs 250 crore of greenshoe option, through retail non-convertible debentures (NCDs). The company would raise subordinate debt and three-year secured NCDs at 9.75% and five-year NCD at 10.25%. It would raise double bond around 11% with a minimum tenure of five years. The retail NCD issue is expected to open on May 17.

Aurobindo drug gets nod Aurobindo Pharma has received approval for its abbreviated new drug submission for cyclobenzaprine tablets 10 mg from Health Canada. It is the generic equivalent of Canadian reference product Apocyclobenzaprine tablets of Apotex Inc, Canada, and is useful for relief of muscle spasm. Aurobindo now has 12 products approved by the Health Canada, a release said here on Thursday.

Moser Baer to raise Rs 4 bn debt for expanding solar power Global technology company Moser Baer plans to raise Rs 3-4 billion of debt in the next two to three months to fund expansion, primarily to increase the crystalline silicon capacity of its photo voltaic (PV) business by 100 Mw from the current 140 Mw. ``Our immediate plan or phase one of the expansion is about our crystalline silicon capacity . In PV, for the second consecutive quarter, we have been able to achieve strong shipment and corresponding revenue. We are now actively implementing our expansion plans of the crystalline silicon facility,`` Yogesh Mathur, Group Chief Financial Officer, told Business Standard.

Dr Reddy`s returns to profit with Rs 1.66 bn gain India`s second largest drugmaker by sales, Dr Reddy`s Laboratories, returned to quarterly profits and was optimistic for the fiscal, but that did little to cheer analysts worried about its sales. The firm didn`t do well in the US and Europe, key markets for Indian generic drug makers, but it made up with improved sales from India and Russia.

OVL, partners to sign Venezuela contract next week ONGC Videsh and its partners will next week sign contracts for developing a giant oilfield in Venezuela that will give energy deficient India 3.6 million tones a year of crude oil. ``The contract for the Carabobo-1 project will be signed on May 12,`` a company official said. Venezuelan President Hugo Chavez and India oil minister Murli Deora are likely to witness the signing at Caracas. ONGC Videsh - the overseas investment arm of Oil and Natural Gas Corp (ONGC) - and its partners, Indian Oil Corp (IOC) and Oil India, will invest USD 2.181 billion in the 400,000 barrels per day (20 million tones a year) project over the next five years. The official said Indian firms hold 18% stake in the Carabobo-1 project, which will be operated by Spain`s Repsol-YPF and Petronas of Malaysia.

NTPC to pump in Rs 45 bn for clean energy projects NTPC is investing over Rs 45 billion for setting up renewable energy projects in the country to reduce dependence on fossil fuels and carry forward the company`s ambition to generate 1,000 MW clean powers. The company would set up three solar power projects with a combinedcapacity of 300 MW and three wind power projects of 200 MW, one of which is likely to come up in the Kutch district of Gujarat. For one megawatt of solar and wind power, an investment to the tune of Rs 100 million and Rs 80 million, respectively, is required. The company has envisaged building wind energy farms of 650 MWcapacity , small hydro projects (less than 25 MW) of 300 MW, solar (photo-voltaic) PV power project of 5 MW, solar-thermal of 10 MW, biomass power project of 15 MW and geothermal power project of 30 MW. This move would mitigate the firm`s fuel risks.

JSL signs 1320 MW power plant deal in Orissa;

Andrew Yule not to sell stake in Tide Water;