BLOOMBERG : Govt extends anti-dumping duty on Chinese flat base steel wheels

BLOOMBERG : State Bank of Mysore to pay 10 rupees/share interim dividend

BLOOMBERG : Steelcast in pact to supply steel casting pdt to Caterpillar

Rail minister:

• Roll back some proposed fare hikes in rail budget

• Roll back fare hike in IInd, sleeper class fares

• Also roll back fare hike in AC III-tier, chair car

UK Reduces corporation tax to 24% from 26% from 1st April. To further reduce corp tax to 22% from 1st April 2014. Positive for Tata Motors and Tata Steel.

22-03-2012

NIFTY VIEW

Market is expected to open on flat note, we can see Nifty spot to trade around 5350-5360 in opening trade, if Nifty spot able to cross the 5380 level we could see some support buying to initiate in market, Nifty spot is having resistance at 5380-5420 above 5420 we can see some comfort in market and it could move till 5450, whereas Nifty spot is having supports at 5320-5280 below that we may see some selling pressure in market and it could slide lower till 5250.

BOARD MEETING

• ALOK INDUSTRIES, to mull raising up to $150 mln.

• STATE BANK OF MYSORE, to consider interim dividend.

• ORBIT EXPORTS, to allot shares on warrant conversion.

DATA ALERT FROM OVERSEAS

• FRANCE FLASH PURCHASING MANAGERS' INDEX for Mar.

• GERMANY FLASH PURCHASING MANAGERS' INDEX for Mar.

• EUROZONE FLASH PURCHASING MANAGERS' INDEX for Mar.

• UK RETAIL SALES DATA for Feb.

• EUROPEAN UNION NEW INDUSTRIAL ORDERS in Jan.

• US INITIAL JOBLESS CLAIMS for week to Mar 17.

• US WEEKLY EXPORT SALES.

• US HOUSE PRICE INDEX for Jan.

• US DJ-BTMU BUSINESS BAROMETER for Mar 10 week.

• US ENERGY DEPARTMENT NATURAL GAS STORAGE REPORT for Mar 16 wk.

• EU FLASH CONSUMER CONFIDENCE INDICATOR for Mar.

MARKET NEWS

• 3i Infotech shares gain 6% as lenders OK co's debt recast plan

• Unitech agrees to sell its Uninor stake at fair value

• RBI moves to curb gold loans; loan-to-value capped at 60% for NBFCs

• Diesel price decontrol may debut with cash subsidy transfer to farmers

• Lock in for Rajiv Gandhi Equity Scheme may be cut to one year

• Court summons Bharti Airtel, Idea, Loop over mobile number portability

GVK to sell stake to help fund Australia coal project

• UltraTech eyes Adhunik's north east plant

• Govt says Vodafone has to pay tax once I-T Act amended

• RIL official says not to expand fuel retail ops till price deregulated

• Oil India shareholders OK 3-for-2 bonus issue

• HCL Tech, Cisco Systems jointly develop solution for financial svcs

• Idea Cellular tops GSM user addition in Feb; Uninor comes second

• HEALTHCARE: The finance ministry and World Bank have signed an agreement for credit of

$152 mln to upgrade health services in Uttar Pradesh.

• OIL & GAS: The government may decontrol diesel prices by providing cash subsidy to farmers to insulate them from the adverse impact of price increase. State-owned oil marketing companies have asked the government to include petrol--which was deregulated in 2010--in the administered pricing mechanism. POWER: The government has withdrawn deemed export benefits available to suppliers of equipment to all non-mega power projects.

• TELECOM: Unitech Wireless has asked the Supreme Court to direct the telecom department to conclude 2G auction by Jun 2, and fix 2G auction reserve price at the same level as 3G auction.