What India's Stocks Market Will Watch - Jun 20

[K.Karthik Raja]

What India's Stocks Market Will Watch - Jun 20
Friday, Jun 20 - Morning brief for the stock market:
.
BIG PICTURE
* CPI(M) says to reconsider support if govt goes ahead nuclear deal
(NW18)
* Govt economic advisor Virmani says inflation may ease Oct-Dec (NW18)
* Oil minister Deora to attend Jun 22 Jeddah meet on rising oil prices
(NW18)
* China to raise fuel prices by 18% (BS)
.
.
TOP EVENTS TODAY
* Earnings for year ended March to be detailed by: AMD Industries,
Atul, Dil
Dredging Corp. of India, Essar Shipping, EIH Ltd., House of Pearl
Fashions,
Onward Technologies, Parsvnath Developers, Pearl Global, among others.
.
* Board meet of: Hindalco Industries to consider financing plan for
Novelis
buy and dividend, Indo Asian Fusegear to consider allotment of
warrants on
preferential basis, Quintegra Solutions to consider the proposal to
merge
Quintegra US Inc. with self.
.
* Annual general meet of: B&A Multiwall Packaging, Electrotherm
(India), GL
Hotels Macmillan India, Pratibha Industries, Venlon Enterprises.
.
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INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Jun 18: FIIs (4,498)
* Sensex 15087.99, down 334.32 points; Nifty 4504.25, down 78.15
points
* Other markets:Crude:$131.93/bbl; rupee:42.96;gold $897.35/ounce;10-
yr
yld:8.47%
.
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OUTLOOK
* Seen up in early trade as investors find comfort from fall in crude
oil
prices, but trade will be choppy ahead of the inflation data due at
noon.
.
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GLOBAL STOCK MARKETS
* U.S. share indices ended up Thursday, snapping a two-session losing
streak,
as crude oil prices fell on the prospect of lower demand from China,
which
raised domestic petrol and diesel prices.
.
* Asian markets were mixed today, as shares of oil exploration
companies such
as Inpex Holding declined on fall in crude oil prices, offsetting
gains in
airline, shipping, and refining companies.
.
.
SECTOR NEWS
AUTO: Ford India says its upcoming small car model to be launched in
India by
2010, may have both diesel and petrol variants. (NW18)
.
AVIATION: Private carriers as well as Air-India threaten to back out
of the
Federation of Indian Airlines on dispute over appointment of
Kingfisher
Airline's owner Vijay Mallya as chairman of the industry body. (Mint)
.
BANKS: Moody's says Indian banks face challenges of high non-
performing
assets and capital raising. (NW18)
.
FERTILISERS: State-run Fertilizers and Chemicals Travancore Ltd. hopes
to
wipe out accumulated loss of 3.9 bln rupees by the end of 2010-11.
Company
sees operating profit of 500 mln rupees in FY09. (NW18)
.
INFORMATION TECHNOLOGY: Wal-Mart plans captive unit in Bangalore. (ET)
.
INFRASTRUCTURE: Government to mull special purpose vehicle for Nhava
Sheva-Sewri link. (NW18)
.
MEDIA: Advertising on other cricket events down after success of
Indian
Premier League. (BS)
.
OIL AND GAS: Karnataka government has decided to cut sales tax on
petrol,
diesel, and value-added tax on liquefied petroleum gas effective
Friday.
(NW18)
.
REGULATORS: Securities and Exchange Board of India says intermediary
registration to be made permanent. (NW18)
.
SHARE MARKET: India is among least preferred markets among BRIC equity
Markets over the next 12 months, a survey of global emerging markets
investors by Merrill Lynch said. (NW18)
.
.
STOCKS
* ASHOK LEYLAND: Formed a new company--Albonair GmbH--for development
and
production of emission treatment systems for environment-friendly
diesel
engines. (NW18)
.
* BATA INDIA: Has decided to open 250 new stores over three years.
(NW18)
.
* DLF: Manesar special economic zone deal yet to be signed. (ET)
.
* FERTILISERS AND CHEMICALS TRAVANCORE: To hive-off design and
engineering
units into joint venture companies. (NW18)
.
* GREAT EASTERN SHIPPING: To invest 30 bln rupees in fleet expansion
over the
next three years. (ET)
.
* ICICI BANK: Awaits Reserve Bank of India cues for prime lending rate
move.
(NW18)
.
* ITC: Arm ITC Infotech eyes acquisition in Europe, US. (BS)
.
* IVRCL INFRASTRUCTURE: Close to acquiring a Swedish construction
equipment
manufacturer for over $100 mln (4.3 bln rupees). (DNA)
.
* HINDUATAN PETROLEM: To buy four sugar mills in Andhra Pradesh. (BS)
.
* JET AIRWAYS: Hikes base fares up to 3,000 rupees and 2,250 rupees
for over
1,000 km and 750-1,000 km, respectively. (NW18)
.
* MOSER BAER: Plans to raise $300 mln via private placement. (Mint)
.
* NATION THERMAL POWER: Orissa plant at critical stage following
agitation
from truckers. (BS)
.
* NEYVELI LIGNITE CORP: Plans to add 750MW power capacity and 6.6 mln
tn
lignite mining capacity by Sep 2009. (NW18)
.
* NIIT: To set up training hub in China. (BS)
.
* PARSVANATH DEVELOPERS: To hold 38% in Sabeer Bhatia's 18-bln-rupee
Nanocity
project. (ET)
.
* RELIANCE INFRA: Government says company's bid for Sewri-Nhava Sheva
link
void. (NW18)
.
* RIL: To challenge Reliance Communication in court over complaints.
(CNBC-TV18)
.
* ROMAN TARMAT: Gets contracts worth 1.06 bln rupees from Tamil Nadu
Road
Infrastructure Development Corp. (NW18)
.
* TAMIL NADU NEWSPRINT: To invest 10 bln rupees on capacity expansion.
(BS)
.
* TATA CONSULTANCY SERVICES: To set up separate business unit for
business
process outsourcing services. (ET)
.
* TATA MOTORS: Loans for the small car Nano are likely to be
expensive. (Mint)
.