Market Outlook: Indian markets are expected to open in green

Market Outlook: Indian markets are expected to open in green and consolidated more at these levels before taking fresh move. We are entering into results saga, so expect some result oriented performance rather than sector specific. The crucial support on the downside for the Nifty is 5740 and resistance at 5825.

Global events to watch

Þ Bank Reserve Settlement

Þ Import and Export Prices

Þ Treasury Budget

Global indices Update @ 8:

Dow Jones : 11671 (+34.43)

NASDAQ : 2716 (+09.03)

Nikkei 225 : 10563 (+52.65)

Hang seng : 23968 (+208.0)

SGX CNX Nifty : 5816 (+08.50)

INR / 1 USD : 45.32

Stocks in action for the day: Pfizer, Tata Comm, Talwalkar, ITNL, Tata Steel

Shekhawati Poly-Yarn listing today, raised Rs 36 crore at @ Rs 30 - constituted 54.54% of the fully diluted post-issue capital

Tata Steel board approved FPO of 5.7 crore shares; will raise Rs 3700 crore at CMP – promoter holding will come down by 2% Tata Steel says -Group-wide steel volume declined marginally in Q3 Net sales for Q3 will be flat as compared to Q2FY11 -Operating results to decline in Q3 versus Q2FY11 -Operation results decline due to rise in raw material prices in Q3

TDSAT asks Uninor to pay 60% of penalty to DoT -TDSAT to enters Uninor's petition for hearing -DoT to respond within 2 weeks CNBC-TV18 alert: -Uninor appealed against penalty in 10 circles -Uninor has paid fine of around Rs 13 crore for 4 circles

Telecom Secretary says -DoT may send cancellation notices for rollout delay -DoT to ask old operators to pay for delaying rollout CNBC-TV18 alert: Existing telcos yet to pay Rs 135 crore as liquidated damages Telecom Secretary says -Penalty maybe levied on Bharti Airtel, Reliance Communications & Aircel CNBC-TV18 alert: Bharti Airtel faces a penalty of Rs 31 crore

Pfizer Q4 -Net profit at Rs 43.6 crore versus Rs 25.4 crore (YoY) -Net sales Rs 236 crore versus Rs 195 crore (YoY)

Wyeth interim dividend at Rs 15/share (CMP at Rs 813))

Prajay Engg alloted 1.09 crore shares upon conversion of warrants

IL&FS Network (ITNL), Ramky Infra consortium bags Rs 1760 crore order in 50:50 JV

Zee Entertainment board meet on January 14 to consider a proposal for amalgamation of 2 wholly-owned overseas subs with company along with results

Valecha Eng bags orders worth Rs 194.5 crore

Rama Phosphates discharged from the purview of SICA / BIFR

Talwalkar Fitness makes additional investment in the equity shares of M/s Aspire Fitness Private Limited and M/s. Denovo Enterprises Pvt ltd

Religare Enterprise: IRDA accepted requisition for registration application Form IRDA of Religare Health Insurance

Shoppers Stop: Ex split 2:1

Apollo Tyres signed a MOU with TN Government to hike its investment in a new plant at Oragadam near Chennai from Rs 1650 crore to Rs 2100 crore (ET)

L&T Power expects its sales jump to USD 3 billion from USD 400 million by 2015 (ET)

Allahabad Bank to raise Rs 2600 crore in tier two capital to meet the growing need for funds as credit demand has overtook deposit growth (ET)

Tata Communications to acquire BitGravity a California based content delivery network (CDN) (BS)

Jyothy Labs is in talks with private equity firms to raise close to Rs 100-150 crore for its laundry business in its 75% subsidiary JFSL (FE)

Lanco Infratech raises Rs 1827 crore in debt and Rs 783 crore for the expansion of its project (Mint)