Market Outlook: Indian markets are expected to trade flat ahead of mixed global sentiments.

Market Outlook: Indian markets are expected to trade flat ahead of mixed global sentiments. Overall the market looks weak and can see further downside pressure in the days to come we are now moving towards results season and one can see stock specific action rather than sector specific. The crucial support on the downside for the Nifty is 5840 and resistance at 6006.

Results today - Jindal Polyfilms, Pennar Industries

Global events to watch:

Þ 4-Week Bill Announcement

Þ 3-Month Bill Auction

Þ 6-Month Bill Auction

Global indices Update @ 8:

Dow Jones : 11674 (-22.55)

NASDAQ : 2703 (-06.72)

Nikkei 225 : 10541 (+11.28)

Hang seng : 23691 (+04.99)

SGX CNX Nifty : 5904 (+08.50)

INR / 1 USD : 45.37

Stocks in action for the day: Patni Computer, Tantia Constructions, G M Breweries, Spanco, RIL, Tata Steel, HCC

iGate set to announce Patni acquisition today: The country's seventh largest software exporter, Patni Computer Systems is set to announce an ownership change on Monday with its promoters Patni brothers and private equity firm General Atlantic selling their 60 per cent-plus stake to Nasdaq-listed IT services provider, iGate. The deal is likely to be done at between 500-505 a share, said two people with direct knowledge of the deal. A Patni Computer board meeting is scheduled for Monday morning.

Tantia Constructions has received project from National Highway Authority of India worth approximately Rs 375 crores and from H.P. Infrastructure Development Board, Shimla worth around Rs 40 crores

Atul Auto has recorded total sales of 1731 vehicles in the month of December, 2010 as against 1030 vehicles in the same period a year ago. Sales for quarter ended December 2010 stood at 4813 vehicles as against 3381 vehicles in the corresponding quarter a year ago.

Tata Elxsi and Squared Entertainment have signed Memorandum Of Understanding for a new children's entertainment global joint venture.

Hindustan Zinc has added 150MW capacity to its existing wind power generation capacity of around 125 MW. The project spans the states of Rajasthan, Maharashtra, Karnataka and Tamil Nadu.

Schneider Electric has signed an agreement to acquire majority stake from promoters of APW President Systems, which designs and manufactures standard and customized racks and enclosure systems.

Ashoka Buildcon has bagged turnkey power distribution EPC contract aggregating to Rs 156.51 crores from Maharashtra State Electricity Distribution Company.

G M Breweries earnings zoom 2.87 times for Dec`10 qtr: G M Breweries reported a phenomenal rise in standalone net profit for the quarter ended December 2010. During the quarter, the profit of the company rose 2.87 times to Rs 58.00 million from Rs 20.20 million in the same quarter last year. Net sales for the quarter declined marginally 0.82% to Rs 591 million, while total income for the quarter rose marginally 1.02% to Rs 602.00 million, when compared with the prior year period.

It reported earnings of Rs 6.20 a share during the quarter, registering 2.87 times growth over previous year period.

HCC in focus MoEF inspection committee member Naresh Dayal says: -Prima facie it appears forest has not been destroyed Alert: PIL against Lavasa alleged construction done on fertile land -Lavasa project does not affect water supply to Pune Alert: PIL against Lavasa alleged water supply to Pune will be affected -Stop construction order to be looked at only by HC Alert: MoEF concludes 3-day visit to Lavasa

RBI Governor, D Subbarao says -Micro finance complex issue -Micro finance sector has added value to finance sector -MFIs have helped poor access credit -Malegam panel report on MFI later this month -After report will take view on MFI sector

Indraprastha Gas Q3 -Net sales at Rs 454.7 crore versus Rs 284.6 crore -Net profit at Rs 67.2 crore versus Rs 58.9 crore

PM asks Oil Ministry to decide on Cairn deal by end of Month – ET

RIL’s 4G revolution to begin by year end – DNA

Orbit Corp’s Marine Drive tower issued stop work notice by BMC for allegedly violating environment norms– HT

Tata Steel plans to raise up to Rs 7000 crore from the FPO to part finance its expansion (FE)

Ruias, Jindals among likely bidders for the Rs 9000 crore Navi-Mumbai airport (FE)

Fortis Healthcare eyeing acquisitions in the Australasia region during 2011 (BL)

DGH asks Reliance to raise its output on the gas production by March (TOI)

KPIT Cummins board approves allotment of 77.58 lakh shares at a minimum price of Rs 145/share (total Rs 112.5 crore) to Warhol Limited, Mauritius, (an affiliate of Chrys Capital V LLC, Mauritius)

Spanco bags order worth Rs 66 crore from Maharashtra State Electricity Distribution

Midday Multimedia board meet today to consider record date for ex-scheme of arrangement between Jagran and Midday

Nagarjuna Fertilisers board meet today to approve the Composite Scheme of Arrangement and Amalgamation of IKisan Limited and Kakinada Fertilizers Limited and Nagarjuna Fertilizers and Chemicals Limited and Nagarjuna Oil Refinery Limited

Sujana Towers: Ex split 5:1