Daily Report 22-02-2013

Future Outlook:  Broadly the downward gap area in the zone of 5937 to 5921 reflects that the undertone has turned negative. At present, prices have closed near crucial support zone of 5850 –5824. In coming trading session if nifty trades convincingly below the mentioned zone then it may test 5780 to 5750 levels.  On the upside 5900- 5950 may act as resistance for the day


Data Alert From Overseas  -
* German Final GDP q/q at 12:30 pm.
* US  Unemployment Claims at 7:00 pm.
* US Crude Oil Inventories at 9:30 pm.


Domestic Stock Specific News  –
* President Pranab addresses Parliament Budget Session; stresses on growth
* Lupin gets US FDA nod for anti-anxiety generic lorazepam solution
* Maharashtra Industrial Development Corp seeks bids for 1,320MW unit
* Promoters' open offer for 26% stake in Vyapar Ind Apr 9-25
* SVC Resources to mull JV on Feb 27 to restart Jabalpur mining ops
* NTPC hopes to commission N Karanpura plant's unit 1 in 13th Plan
* CRISIL says difficult for banks to raise non-equity tier I capital
* Mawana Sugars potentially sick company as net worth down over 50%
*Jaiprakash Power launches 35-bln-rupee QIP issue at 31.93 rupee/shr
* Gujarat State Petroleum to raise up to 30 bln rupees via bonds
* Source says Coal India to hike wages of contract staff across 8 arms
* Gujarat Pipavav Port Oct-Dec PAT 359.8 mln rupees vs 270.0 mln
* ABB Oct-Dec net profit 167.7 mln rupees vs 641.2 mln


International News  -
* Markit's Eurozone Services PMI fell in February to 47.3 from 48.6.

Securities in Ban For Trade Date 22-02-2013
Punjlloyd, Suzlon,  Renuka, Hdil.

TODAY’S RESULT –  
Abbott India, Krishna Ferro,  Nestle India, Rain Commodities, Shree Digvijay


EX- Dividend  - Natco Pharma.

Board Meeting (Purpose) – Aditya Gears (Scheme of Arrangement), Lakshmi Over (General), Sybly Inds (Consolidation of Shares).

NW18:Stocks To Watch: Jet Air, MRPL, Tata Chem, Tata Motors, Shriram Fin


BIG PICTURE
* New tax on the 'super-rich' is unlikely to be introduced in FY14 Budget (ET)
* Serial bomb blasts in Hyderabad leave 11 dead, over 50 injured (NW18)


TOP EVENTS TODAY
* Oct-Dec earnings to be detailed by: Bombay Rayon Fashions, KSB Pumps,  Rathi Steel.
* Board Meetings of:
  + Credit Analysis and Research, to consider dividend.
  + IFB Agro Industries, to consider allotment of shares on preferential basis.
  + Lakshmi Overseas Industries, to consider warrants issue.
  + Rajapalayam Mills, to consider dividend.
  + Rathi Steel, to consider corporate debt restructuring proposal.

INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Feb 21: FII 12.13, DII (2.29)
* Institutional net buy/(sale) in bln rupees, Feb 20: FIIs 4.55
* FII NSE futures net buy/(sale) in bln rupee, Feb 21 : index (4.86), shr 0.83
* Sensex 19325.36, down 317.39 points; Nifty 5852.25, down 90.80 points
* Crude: $92.92/bbl; Rupee: 54.48/$1; Gold: $1,577.20/ounce; 10-yr yld: 7.8116%

OUTLOOK
* Stock indices are seen opening down, tracking the fall in overseas markets.  Any recovery in indices may be short-lived as investors would keep positions  light ahead of the Union Budget next week

GLOBAL STOCK MARKETS
* US indices ended down Thursday on fears of an end to US Federal Reserve's  quantitative easing, dismal weekly jobless claims, and a drop in the Federal  Reserve Bank of Philadelphia's general economic index.

* Asian indices declined tailing overnight fall in US equities and on weak  Eurozone PMI data for February.

SECTOR NEWS
===========
* AUTOMOBILES: Nissan Motor Co and Renault SA plan to invest around $320 mln in a new car assembly plant in India that will become operational in 2014. (ET)

* AVIATION: AirAsia is likely to invest around $50 mln in its joint venture with Tata Sons for a low-cost Indian airline that may begin operations by  December. (NW18)

* AUTO ANCILLARIES: Anand Group has signed a pact with South Korea's Mando Corp for merging two joint ventures into Mando Automotive India.  (NW18)

* BANKING: RBI may allow real estate companies and brokerages to apply for banking licences. (BS)
 Royal Bank of Scotland will lay off a quarter of its workforce and shutter some branches in India. (ET)

* CONSUMER DURABLES: Several companies are planning to hike price by around 5%. (FC)

* INFRASTRUCTURE: India Infrastructure Finance Co may stand as a guarantor to bonds issued by private infrastructure companies. (HT)

* INSURANCE: Life Insurance Corp former chairman T.S. Vijayan takes over as the chairman of Insurance Regulatory and Development Authority. (NW18)

* LAW: The Supreme Court has ordered setting up a team to analyse the recorded telephonic conversations of Niira Radia in relation to the 2G scam for criminal content. (NW18)
    The apex court has ruled that the capital markets regulator can seek audited accounts of companies seeking nod to function as credit rating agencies. (NW18)

* MINING: The apex court has begun final hearings in the Karnataka iron ore mining case. (NW18)

* MUTUAL FUNDS: HSBC Global Asset Management will scrap exit load on all its funds. (BS)

* REGULATORY: IRDA has introduced a standard definition for 46 commonly used terms in health insurance policies to standardise health insurance. (NW18)

* RETAIL: Government may reconsider the SME sourcing clause for foreign retailers planning to set shop in India. (FE)

* TELECOM: Analysts say companies operating in Mumbai will heave a sigh of relief on the pricing front with the exit of Uninor. (NW18)
    CDMA operator Sistema Shyam Teleservices will close operations in 10 areas in 30 days and participate in the upcoming spectrum auctions. (var)

STOCKS
======
* ABB: Board approves change in company's name to ABB India. (NW18)

* ASHIANA HOUSING: Has bought a 4-acre plot at Neemrana in Rajasthan to extend
its Ashiana Aangan project. (NW18)

* AUROBINDO PHARMA: Will challenge an adjudicating authority order allowing the Enforcement Directorate to attach land belonging to its arm, APL Research.
(NW18)

* FEDERAL BANK: Has cut Base Rate by 25 basis points to 10.20%. (NW18)

* GITANJALI GEMS: Has approved a plan to raise funds via issue of foreign currency convertible bonds, due for maturity in 2018. (NW18)

* GMR INFRASTRUCTURE: The 555-km Ahmedabad-Kishangarh project from which the company pulled out citing delay in clearance has now got all approvals
including environment. (FE)

* GTL INFRASTRUCTURE: Has allotted 629,323 shares on conversion of 116 foreign currency convertible bonds of $1,000 each at 10 rupees per share. (NW18)

* GUJARAT GAS: Has posted Oct-Dec net profit at 692.7 mln rupees, and net sales of 7.56 bln rupees. (NW18)

* GVK POWER AND INFRASTRUCTURE: Its Australian coal mining project's financial closure is on track and is expected to be completed by December. (NW18)

* HAVELLS INDIA: Has raised FII investment limit in the company to 40%. (NW18)

* INFOSYS: Says that US' proposal to increase cap on H1B visas is beneficial for the overall industry and that NASSCOM's IT sector growth aim of 12-14% for FY14
is cautiously optimistic. (NW18)

* JET AIRWAYS: Etihad Airways is putting a host of conditions for a deal, including an option to buy up to 49% stake in the company. (BS)

* KANORIA CHEMICALS: Has fully commissioned its 5-MW solar power plant in Rajasthan. (NW18)

* KINGFISHER AIRLINES: Has paid 749.4 mln rupees to the Income Tax Department in lieu of tax deducted at source. (NW18)
    Smaller lenders to the airline such as ORIENTAL BANK OF COMMERCE, UNITED BANK OF INDIA, and CORPORATION BANK may get to recover their dues by March by selling aircraft. (BS)

* MANGALORE REFINERY AND PETROCHEMICALS: General Insurance Corp of India and four other public sector insurers will reinsure the company's Iranian business. (ET)

* NETWORK18 MEDIA: Has approved selling two business directories that also  are non-core businesses--'Yellow Pages' and 'ASK Me'. (NW18)

* NTPC: Plans to float tenders worth 140 bln rupees for its 1,980 MW Jharkhand project in 2013-14 (Apr-Mar). (HBL)
    The two-day trade union stroke has hit coal supplies to some of the company's plants. (Mint)

* PENNAR INDUSTRIES: Company along with its arm has received orders worth  500 mln rupees. (NW18)

* PETRONET LNG: Is planning a bond issue in April for the first time to raise 6 bln rupees from the domestic market. (NW18)

* RATHI GRAPHIC: To raise 75 mln rupees by issuing 2.5 mln shares to three promoter entities on preferential basis at 30 rupees per share. (NW18)

* RELIANCE INDUSTRIES: Securities Appellate Tribunal on Thursday adjourned hearing on RELIANCE INDUSTRIES' appeal against SEBI till Mar 14. (var)

* ROSELABS FINANCE: Lodha Developers' arm to make open offer to acquire 26% stake in the company at 8.60 rupees per share. (NW18)

* SASKEN COMMUNICATION: Has started increasing focus on newer domains to improve topline growth as revenue from Nokia declines steadily. (NW18)

* SHRIRAM TRANSPORT FINANCE: TPG has sold 10% stake in the company for over 16 bln rupees. (var)

* TATA CHEMICALS: Its Babrala unit in Uttar Pradesh is operating below half its capacity because of lack of demand. (HBL)

* TATA MOTORS: May jointly, with AirAsia, build its low-cost vehicles like Nano, Ace, Magic, and Winger in Malaysia for sale in that country and other markets. (Mint)
    The company is exploring the possibility of adding more models to the production line at its Sanand plant in Gujarat. (BS)

* TVS MOTOR CO: A proxy advisory firm has recommended voting against the special resolution to induct Sudarshan Venu on the  company's board as whole
time director. (ET)  End

Daily Report 21-02-2013

Future Outlook: We maintain our previous day view that 5970 is the immediate resistance for indices. In coming trading session if indices manage to trade above this levels then it may test 6000  –6010 levels. However if nifty fails to cross 5970 level then we may witness a fall towards 5900 – 5850 levels.

Traders are advised to trade with negative bias with a stop loss of  6030 level.


Data Alert From Overseas  -
* German Flash Manufacturing PMI at 2:00 pm.
* US  Unemployment Claims at 7:00 pm.
* US Crude Oil Inventories at 9:30 pm.


Domestic Stock Specific News  –
* PM says hopeful, confident that Budget Session will be fruitful
* Minister says preparing Cabinet note on civil aviation authority
* India Apr-Dec FDI equity inflows $16.95 bln, down 42.1% on year
* ONGC head says plan feasibility study for LNG terminal at  Mangalore
* RIL CFO says cost of doing business in India gone up, returns down
* Trade minister hopes exports in Feb, Mar will be strongly positive
* Minister Nath says govt ready for any type of probe in chopper deal
* Supreme Court begins final hearing in endosulfan ban case
* Everonn, Centum mutually agree to not extend acquisition pact
* Elecon Engineering gets orders worth 1.97 bln rupees
* Vodafone moves Delhi HC against DoT's auction of 900 MHz spectrum
* Govt source says EGoM may OK 2G auction notice inviting bids on Mon


International News  -
* In January 2013 the index of producer prices for industrial products rose by 1.7% from the corresponding month of the preceding year.

Securities in Ban For Trade Date 21-02-2013
Punjlloyd, Suzlon, IRB, Renuka, Hdil.

TODAY’S RESULT –
Abbott India, Krishna Ferro,  Nestle India, Rain Commodities, Shree Digvijay.


EX- Dividend  - Advani Hotels, Amrutanjan Health, Eros Intl Media, Precision Wires, Sterling Tools, Zodiac Cloth.
Board Meeting (Purpose) – Abbott India (Final Dividend).

Daily Report 20-02-2013

Future Outlook: At present looking at the hourly chart, 5970 is the immediate resistance for indices. In coming trading session if indices manage to trade above this levels then it may test 6000  – 6010
levels. However if nifty fails to cross 5870 level then we may witness a fall towards 5900 – 5850 levels.


Data Alert From Overseas  -
* German PPI m/m at 12:30 pm.
* German 10-y Bond Auction .


Domestic Stock Specific News  –
*  Maruti Suzuki Bhargava sees co's FY14 sales growth at 5.5-6.0%
*  Power minister says to request FY14 budget allocation of 490 bln rupee
*  PM says to start negotiations with UK on civilian nuclear pact
*  Govt appeals to bank employees not to join Feb 20-21 union strike
*  Broadcast secy says FM radio phase-3 auction unlikely in FY13
*  2G court cognisant order on extra spectrum chargesheet on Mar 8
*  SEBI fines GMR Ind ex-promoter GMR Holdings on takeover norm breach
*  GSK Pharma Oct-Dec net profit 1.38 bln rupees vs 1.37 bln
* Hotel Leela sells Chennai IT park building for 1.7 bln rupees
*  Bajaj Finance rights share issue closure extended by a day to Fri
*  Solvay ups offer price for Rhodia Specialty shr held since Jul 2000
*  Alstom T&D gets 650-mln-rupee order from Power Grid Corp
*  Elecon Engineering gets orders worth 144.2 mln rupees


International News  -
*Germany's ZEW economic confidence survey index is seen rising to 35 in February from 31.5 in January

Securities in Ban For Trade Date 20-02-2013
Punjlloyd, Suzlon, IRB, Renuka, Hdil.

TODAY’S RESULT –  
Abbott India, Krishna Ferro,  Nestle India, Rain Commodities, Shree Digvijay.


EX- Dividend  - Page Inds
Board Meeting (Purpose) – Abbott India (Final Dividend).

Daily Report 19-02-2103

Future Outlook: In view of the above formation it is evident that markets are cautious at current levels. In coming trading session if indices trades below 5870 levels then it is likely to test 5850 – 5800
levels. On the upside, 5920 – 5970 may act as resistance for the day


Data Alert From Overseas -* Europe ZEW Economic Sentiment at 3:30 pm.


Domestic Stock Specific News  –
*  Govt source says unlikely to cancel this week's gilt auction
*  Barclays sees RBI repo rate cut of 25 bps in Mar; 50 bps AprJun
*  Moody's says India's rising current account gap is credit negative
*  Govt says oil PSUs' Feb 16-28 revenue loss seen 4.54 bln rupees/day
*  Telecom panel says 4G operators can offer voice svc under new licence norm
*  CII seeks removal of alternate minimum tax on SMEs
* Budget may up FY13 food subsidy to 850 bln rupees
*  Wipro gets 10-yr IT outsourcing deal from Mumbai Int'l Airport
*  TCS expands UK ops with new delivery centre in Liverpool
*  HeidelbergCement starts commercial production at Damoh unit
* Official says LIC FY13 investment profit seen over 200 bln rupees
*  Sterlite Tech-Jiangsu JV starts ops at China optical fibre unit
*  Unilever to invest 50 mln euro in aerosol deodorant unit in India
*  Tata Motors to launch 40-50 commercial vehicles FY14, most variants
*  Govt source says FY14 Budget may give 50 bln rupees for food security.


International News  -
* The euro area recorded a surplus of €13.9 billion. In the financial account, combined direct and portfolio investment recorded net outflows of €21 billion.

Securities in Ban For Trade Date 19-02-2013
Welcorp, Punjlloyd, Suzlon, IRB, Renuka, Hdil.

TODAY’S RESULT –
Glaxosmithkl Phar, MidValley Entertainment, Thomas Cook.

EX- Dividend  - NA

Board Meeting (Purpose) – HB Est Developer (Increase in Authorised Capital)

Daily Report 18-02-2013

We are observing that 5850 – 5830 zone is crucial support zone for the indices. Any breach of this zone would indicate weakness going  forward. 
Future Outlook: Broadly 5970 on the upside and 5850 – 5830 zone on the downside holds significance for current week. Any breach of the 5850  – 5830 zone would intensify the selling pressure and in
such scenario indices are likely to test 5766  – 5669 levels. On the upside, above 5970 next strong resistances for indices are at 6000 –6050 levels


Data Alert From Overseas  -
* Europe Current Account at 2:30 pm.


Domestic Stock Specific News  –
* SC orders cos with scrapped licences, no fresh spectrum to halt ops
* UB Group mulls cutting Kingfisher debt using Diageo deal proceeds
* Corporation Bk says ops may be hit on Feb 20-21 due to union strike
* SBI in pact with EPC Industrie for farm loan disbursement
* Prestige Estates CFO says eyeing 20% new sales income growth FY14
* Torrent Pharma gets US FDA nod for Actos, Actoplus Met generics
* HC rules Sanofi need not pay tax in India on Shantha Bio deal
* ICRA  sees Indian aviation industry clocking 11% CAGR in medium-term
* Official says Tata Motors to focus on sub-1.2 mln rupee SUV segment
* Atul Auto sold 2,808 units in Jan vs 2,371 year ago
* Tech Mahindra acquires majority stake in Brazil's Complex IT
* Shree Cement Jan cement production 1.13 mln tn, sales at 1.15 mln tn
* Sintex says plans to rationalise pre-fab, tank making units
* Gammon India Oct-Dec net loss 2.62 bln rupees
* Videocon Ind Oct-Dec net profit 10.4 mln rupees vs 864.2 mln
* Deccan Chronicle Oct-Dec net loss 22.1 mln rupee vs 213.3  mln PAT
* KEC International gets orders worth 6.46 bln rupees


International News  -
* Japan's industrial production grew 2.4 percent month-onmonth in December.

Securities in Ban For Trade Date 18-02-2013

Welcorp, Punjlloyd, Suzlon, IRB,Renuka,Hdil.

TODAY’S RESULT –  

Esab India.

EX- Dividend  - Ambuja Cements, Aurobindo Phar, Gail India, Great Eastern Sh

Board Meeting (Purpose) – Hillock Agro (General), Rollatainers (General), Aditya Gears (Scheme of Arrangement).

Weekly Report

Key developments during the week


* India Jan WPI inflation falls to 38‐month low of 6.62%
* Oil cos may decide petrol price hike Fri, diesel may getdelayed
* Govt source says divest dept to move Cabinet note on PSUs ETF soon
* Govt source says Cabinet note moved on BALCO, Hind Zinc shr sale
* Govt says hope to table forward contracts bill in Budget session
* Minister sees subsidy up by 200 bln rupees post food security bill
* Moody's Investors Svc says IOC's Oct‐Dec results better than expected
* Trade minister says hope to sign free trade pact with EU this summer
* GAIL India Oct‐Dec net profit 12.85 bln rupees vs 10.91 bln
* Mahanagar Telephone Nigam Oct‐Dec net loss 11.82 bln rupees
* Indian Oil head says bulk diesel sale down 14‐15% since mid‐Jan
* Infosys' Gopalakrishnan says NASSCOM's FY14 growth aim achievable
* Cadila Health gets US FDA final OK for Pioglitazone HCItablets
* United Breweries says no co shrs pledged to lenders of Kingfisher Air

Domestic events week ahead

*Feb 20: CPI for rural and farm labourers for January, by Labour Bureau.
* Feb 21: Budget session of Parliament to start with President Mukherjee addressing joint session of both houses.
* Feb 23: State assembly elections in Meghalaya and Nagaland.

Global events week ahead

* Feb 19: Japan Monetary Policy Meeting Minutes, German ZEW Economic Sentiment
* Feb 20: Japan Trade Balance and All Industries Activity m/m, German PPI m/m, German 10‐y Bond Auction, USBuilding Permits and Core PPI m/m.
* Feb 21: FOMC Meeting Minutes, French Flash Manufacturing and Services PMI, German Flash Manufacturingand Services PMI, Spanish 10‐y Bond Auction, French 10‐y Bond Auction, US Unemployment Claims and Existing Home Sales
* Feb 21: FOMC Meeting Minutes, French Flash Manufacturing and Services PMI, German Flash Manufacturing and Services PMI, Spanish 10‐y Bond Auction, French 10‐y Bond Auction, US Unemployment Claims and Existing Home Sales


Weekly Sector Outlook and Stock Picks

Auto sector ‐ In range with negative bias this week
Shares of frontline automobile companies are expected to move in a narrow range this week due to lack of stock‐specific triggers and in run‐up to the Budget for 2013‐14 (Apr‐Mar). Finance Minister P. Chidambaram will announce the Budget on Feb 28. A mild negative reaction in the auto stocks could be seen as oil marketing companies today announced hike in prices of diesel and petrol by nearly 0.5 rupees and 1.5 rupees, respectively.The auto industry that has been facing a slowdown in demand for over a year now has its hopes pinned on the Budgetfor a cut in excise duty and other measures for restoring growth in the sector. It has demanded a cut in excise duty on sub‐four‐metre vehicles to 10% from existing 12% and on larger vehicles to 22% from over 25% now. Society of Indian Automobile Manufacturers has also opposed the proposed additional duty on diesel cars, which it feel  will ground a segment that is at least doing well in an otherwise subdued environment. The petroleum ministry had proposed a hike
in excise duty on cars run on diesel in a bid reduce the demand for the fuel, which is highly subsidised by the
government.


Capital Goods sector ‐  Seen mixed this week
Shares of capital goods and engineering companies are seen mixed, as investors are seen cherry picking. Investors have already started building positions ahead of the Railway Budget and Union Budget for 2013‐14 (Apr‐Mar). Bharat Heavy Electricals, Voltas and Thermax could see some upside due to their attractive valuations, good corporate governance, and strong fundamentals. Performance of these companies has been affected due to macroeconomic headwinds and not on account of weak fundamentals; hence they are likely to improve if the economy catches pace. Havells is also seen as one of the better companies, but its valuations are not as attractive as the others. Investors have mixed views on sector heavyweight Larsen & Toubro. L&T is seen nearing a breakdown in the near term till mega and ultra mega project contracts do not return to the market.


FMCG Sector ‐   Correction seen in large cap stocks this week
Shares of fast moving consumer goods companies that have large market capitalisation are seen correcting downward in the week ahead as current valuations are high following the run up in share prices over the past several weeks. Also, fresh investments in FMCG companies' shares will be limited by the attractiveness of shares of other rate sensitive sectors such as information technology and banks as the interest rate cycle has turned.Majors such as Hindustan Unilever and Godrej Consumer Products are expected to decline as their shares are currently at high values. Mid‐sized companies such as Marico and Emami, on the other hand, are seen relatively safeguarded from margin pressure due to lower raw material cost and as consumers get value‐conscious, substituting premium brands with less expensive ones. ITC may see some pre‐budget correction as a likely hike in excise duty on cigarettes could scare investors away.


Cement Sector ‐ Down this week on lower‐than‐expected demand rise

Shares of major cement companies are likely to trade with a negative bias this week as investors remain worried due to a much‐lower‐than‐expected pickup in demand. Cement demand, which typically picks up in October after a slump during monsoon, has remained subdued amid high interest rates that led to a slowdown in real estate and infrastructureactivity.
Investors had pegged hopes of a revival in demand from real estate sector after the Reserve Bank of India eased policyrates in January. But the nominal 25‐basis‐point cut in repo rate has not led to an improvement in real estate demand.Developers are thus still waiting for interest rates to ease further that would enable them to clear stocks and begin new projects.

Disappointing Oct‐Dec earnings for the top three cement makers—UltraTech Cement, ACC, and Ambuja Cements‐‐has also led to a negative sentiment for the sector. Earnings for the cement heavyweights are not expected to be much better sequentially in Jan‐Mar. Additionally, at the time of announcing Oct‐Dec earnings, all the three top players have said that even as prices of coal have started cooling, increase in diesel and petrol prices will continue to weigh on their margins. Increase in freight and forwarding costs, which dragged down profitability for Oct‐Dec, is also likely to remain a cause of concern in the near future.



IT Sector ‐  In range; cos say NASSCOM growth aim achievable
Shares of information technology companies are seen trading in a range this week as the positive of companies sayingthat the growth guidance set by industry body NASSCOM is achievable, will be offset by the correction following the rise over the past few weeks.
On Tuesday, NASSCOM said it expects Indian IT companies' exports to grow 12‐14% in 2013‐14 (Apr‐Mar), against 10.2%in the current financial year, on expectations of higher discretionary spending by clients and improved business environment. In November, NASSCOM had trimmed its growth guidance for 2012‐13 to "around 11%. In 2013‐14, NASSCOM expects Indian IT companies' domestic sales to grow 13‐15%. It expects the industry's exports at $82 bln‐$87 bln and sees domestic revenue rising $12 bln‐$15 bln.


Oil Sector ‐ RIL under pressure this week
Shares of the state‐owned oil marketing companies are likely to remain under pressure this week though they may open slightly positive on Monday after the hike in diesel and petrol price announced. With the weakness in the broader market expected to continue in the run up to the Union Budget to be announced on Feb 28 and crude price remaining firm, traders see little upside from current levels in the shares of Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd. However, these shares may open higher due to a sentimental boost on the nearly 1.5 rupees per litre hike in petrol price and 0.45 rupees per litre hike in diesel price.
Apart from the general weakness in market, the depreciation of the rupee against the dollar may also weigh on these stocks. The Indian currency has depreciated nearly 1.3% against the greenback since last Friday. Shares of Reliance Industries are also expected to see some more correction this week because of weakening global refining outlook.


Steel Sector ‐  Down this week; Tata Steel seen worst hit
Shares of major steel companies are seen down this week weighed down by disappointing Oct‐Dec results. Primary steel producers such as Steel Authority of India Ltd and Tata Steel Ltd reported poor earnings for the quarter ended December. Steel Authority posted a net profit of 4.84 bln rupees, down 23.4% on year. Lower net sales realisation due to subdued market combined with higher finance costs and royalty payments to states on coal proved a drag on the earnings.
Tata Steel reported a consolidated net loss of 7.63 bln rupees, compared with a loss of 6.02 bln rupees a year ago, due to weak performance in domestic operations. A fall in consolidated net sales and other income were also responsible for the loss widening.


Bank sector ‐  No clear trend; stock specific cues to be eyed
With no clear trend visible, bank stocks are seen moving in a tight band on stock‐specific cues in the coming week. Most market participants do not expect any significant moves ahead of the Union Budget announcement on Feb 28.
Central Bank of India and Dhanlaxmi Bank stocks are in focus after both banks announced capital raising programmes after market hours today. While Central Bank of India is set to issue shares on a preferential basis to the government at 78 rupees per share, Dhanlaxmi Bank's shareholders have approved raising 2 bln rupees via a qualified institutional  Placement. Banks' stocks will also be in focus on account of the United Forum of Bank Unions announcing a two‐day nationwide strike on Feb 20‐21, which is expected to hit operations across the country, as nearly 1 mln employees in public sector and old private banks are expected to participate. The market continues to remain positive on State Bank of India shares as it believes that the bank is well poised to benefit from any pick up in the economic growth. The bank's tighter asset quality scrutiny and lower restructuring book are seen as key positives. Although SBI's Oct‐Dec net profit
rose just 4% on year, market took heart from segmental details.


Pharma sector  ‐ Positive this week on high sales in Jan
The outlook on shares of major pharmaceutical stocks is positive for the coming week mainly on account of January sales being higher compared with a year ago. Sahres of GlaxoSmithKline Pharmaceuticals Ltd will be eyed as the company is scheduled to detail its Oct‐Dec earnings on Feb 19.



Telecom Sector ‐ Down this week on regulatory overhang
Major telecom stocks are expected to trade with a bearish bias this week as regulatory overhang over the sector remains. According to reports, Bharti Airtel Ltd and Reliance Communications Ltd are expected to be slapped with fresh notices from the Department of Telecommunications soon, demanding additional revenue share. Similar notices have already been served to Vodafone India Ltd. The demand notices would put further strain on the financial health of telecom companies that currently face monetary outgo in billions of rupees on account of high cost of spectrum and one‐time spectrum charge. Investors will eye whether companies would be successful in passing on the increased cost on to the subscribers and narrow down the difference between the headline tariff and the realised tariff.


The headline tariff in the country is in the range of 1.2 rupees to 1.5 rupees per minute, while average realised tariff is about 35 paise per minute on account of several discounts and special tariff offers given by companies to attract subscribers. Idea Cellular has started raising its base tariff across the country gradually and recently did away with some free minutes offering and special discounts. Bharti Airtel and Reliance Communications have also reduced free minutes and promotional offers.


                                                   Market Range for Week 5980‐ 5800    


Resistance – Nifty facing Resistance level @5920 level above this level it may go up to @5950 &@ 5990 level.
Support ‐ Support comes for market @5870 level for Nifty; below thislevel Nifty next support @5850 and @5800 will be the major support for Market.


Technical – Last week Nifty opened at 5920 & it made a high of 5969.Last week we have seen some downside in the market. Nifty made a low of 5853 & closed at 5887.Last week Nifty drag 82 points from its high & on weekly basis it closed at 16 point’s lower. Sensex made a weekly high of 19723 & a low of 19381 almost it drags 342 points in the week from its high.So overall last week we have seen some selling from higher level.

Weekly Chart View –
Last week we had expected market range (6020‐5800) market made a high of 5969 & low of 5853 so it hold our both side range.
In last week report we had mentioned, on daily chart market was below 50DMA & below trendline.On weekly chart osilator was showing negative divergens & it was below upward slopping line, because of all that we had mentioned use caution approach at higher level.Now on daily chart market below 50DMA but taking support at 100DMA & osilator showing some oversold position.On weekly chart market taking support short term moving avg on 20WMA, but below trendline & osilator still showing negative  divergens.So overall 5870‐5850 will be major support for market unless we did not get close below that
we can see some consolidation, but close below that we can see some more downside in the market & upside still 5950‐5990 will be major resistance in the market


On Friday The S&P500 & the Nasdaq dipped between 0.1% & 0.2%, while the Dow cloded just barely higher.All three indexes were down slightly for the week, marking the first losing week for the Nasdaq this year.

Market Commentary –
The market could see more consolidation next week as investors turn cautious ahead of the Union Budget 2013‐14 to be presented in the Parliament on 28 February 2013. Investors will focus on changes, if any, in excise duty and service tax in the Budget. It remains to be seen if the government announces measures to revive weak investment growth. It also remains to be seen if the government announces more economic reforms. A key figure to watch out is the divestment   Target for 2013‐14. It remains to be seen if the Budget contains a clear roadmap for the implementation of Goods and Services Tax (GST). There has been some debate over taxing the super‐rich. It remains to be seen if the Budget provides a clear roadmap to cap the government's subsidy bill. It also remains to be seen if there are measures to increase agriculture production to rein in food inflation.


The finance ministry in October 2012 announced a five‐year plan to cut fiscal deficit. The deficit target is 5.3% of gross domestic product for the current fiscal year through March, 4.8% in the next fiscal year, and 3% by the end of the year through March 2017.
The Budget Session of the Parliament will commence on 21 February 2013 and is likely to conclude on 10 May 2013. In order to enable the Standing Committees to consider the Demands for Grants of Ministries/Departments and prepare their Reports, the two Houses will adjourn for recess on 22 March 2013 to meet again on 22 April 2013.  

Daily Report 15-02-2013

Future Outlook: In view of the above formation on the daily chart it is evident that the high of the swing reversal which is at 5970 is major resistance for the market. In coming trading session if indices 
trades below 5875 level then it may test 5850 – 5800 levels. On the upside, the swing high of 5970 and 6000 may act as resistance for the day.


Data Alert From Overseas  -
* BOJ Press Conference at 12:54 pm.
* French Prelim Non-Farm Payrolls q/q at 1:15 pm.


Domestic Stock Specific News  –
*  India Jan WPI inflation falls to 38-month low of 6.62%
*  Govt source says divest dept to move Cabinet note on PSUs ETF soon
*  Govt source says Cabinet note moved on BALCO, Hind Zinc shr sale
*  Govt says hope to table forward contracts bill in Budget session
*  Minister sees subsidy up by 200 bln rupees post food security bill
*  State Bank of India Oct-Dec net profit 33.96 bln rupees
*  IOC head says co's bulk diesel sales down 14-15% since mid Jan
*  M&M arm Ssangyong to raise 80 bln Korean won via equity issue
* India Ratings keeps stable outlook on state govt debt plans FY14
*  Dr Reddy's Lab Oct-Dec consol PAT 3.63 bln rupees vs 5.13 bln
*  GVK Power & Infrastructure Oct-Dec net loss 60.6 mln rupees
*  NIIT Tech JV launches cloud-based geographic information platform
* Aurobindo Pharma gets US FDA OK for generics of Actos, Actoplus Met
*  Venus Remedies gets Australia regulator OK for co's 4 units
*  Alok Industries sees debt down 5-7 bln rupees by March


International News  -
* German Gross domestic product down by 0.6% in the 4th quarter of 2012.

Securities in Ban For Trade Date 15-02-2013
Welcorp, Punjlloyd, Suzlon, IRB,Renuka,Hdil.

TODAY’S RESULT –  

ABC Gas, Ajcon Global, Amit Intl, Anugraha Jewel, APT Pack, AUNDE IND, Bacil Pharma, Beckons Inds, Brawn Biotech, BWL, CHD Developers, Clarus Finance, Continental Contr, Coromandel Agro, Crew Bos, Croitre Inds, Daikaffil Chem, Dee Kartavya, Dhanlaxmi Fab, Dolphin Med, EL Forge, Excel Glasses, Explicit Fin, Extol Comm, Faze Three, First Custodian, Gaekwar Mills, GD Trading, Gennex Lab, Glaxosmithkl Cons, Glodyne Tech, GNRL, Gopal Iron, GR Cables, Hind Inds, HMT, In House Prod, India 
Infraspace, Indian Bright, Indian Sucrose, Indo Euro Indchem, Invicta Meditek, ITDC, Ivee Inject, Jagson Airlines, JRIIIL, KEN Fin Serv, Khator Fibre, Laffans Petro, Lesha Inds, Lippi Systems, Mahamaya Invest, Mahan Inds, Maharashtra Poly, Man Inds, Mansoon Trad, Meenakshi Steel, Midfield Industries, Monotype India, Navcom Inds, ND Metal, New Markets Adv, Nilkanth Engr, Nirmal Metal, Nuway Organic, Osian Inds, Oswal Spinning, Oxford Inds, Oxides & Special, Paramount Cosm, Pharmaids Phar, Photoquip India, PL Enterprises, Prakash Steelage, Rasi Electrodes, Rathi Steel, Ravindra Trad, RCL FOODS, Regency 
Hosp, RISHABHDEV, Sagar Soya, Samtel Color, Samtel India, Samtex Fashions, Sandu Pharma, Sanmitra Comm, Shantanu Sheo, SHREEYASH, SIKOZY REAL, SR Inds, Sri Ramakrishna, STAMPEDE, Sterling Green, Sunflag Iron, Tamilnadu Steel, Texel Inds, Tirupati Foam, , Transgene Bio, Tuni Textile, Vaishno Cem, Vaswani Inds, Victoria Enter, Vishvjyoti Trd, Volant Textile, Voltaire Leas, VR Woodart.


EX- Dividend  - Aegis Logistics,  Dhanuka Agri, India Motor, India Nippon, JM Financial, , Madras Cements, Orbit Exports, , Power Grid Corp, Ramco Inds, SAIL.

Board Meeting (Purpose) – Next Mediaworks .

SECTOR NEWS
===========
* AVIATION: Air India has vacated its Mumbai headquarters and has shifted
  Its corporate office to New Delhi. (ET)
      IndiGo Airlines has criticised the government's move to cap lowest
  and highest airfares and said the airline will increase its capacity
  16% in 2013-14 (Apr-Mar). (PTI)
      American Airlines and US Airways have announced $11-bln merger to
  create the world's largest airline. (var)
.
* DEFENCE: The 37.60-bln-rupee helicopter scam may affect the Indian
  expansion plans of Italian firm Finmeccanica-as AgustaWestland, the
  company accused of bribing Indian officials--is its UK arm. (ET)
      Government has threatened to cancel its contract with
  AgustaWestland and blacklist the firm if investigations reveal that
  money changed hands for clinching the helicopter deal. (ET)
      Central Bureau of Investigation has received documents pertaining
  to the Finmeccanica defence bribery case and is set to register
  a preliminary enquiry into the case today. (BS)
.
* EDUCATION: Manipal Global Education Services will buy back all the
  financial investments made by investors, including Azim Premji and
  N.R. Narayana Murthy, in a deal worth $270 mln. (ToI)
.
* FAST MOVING CONSUMER GOODS: Berkshire Hathway and 3G Capital have
  agreed to buy H.J. Heinz for around $23 bln. (var)
.
* INSURANCE: Leading life insurance companies such as HDFC Life, Birla
  Sun Life and ICICI Prudential have shown interest in buying HSBC's stake in
  Canara HSBC Oriental Bank of Commerce Life Insurance Co. (ET)
.
* INVESTMENT: Despite government curbs on gold import, India is seen buying
  11% more gold in tonnage during 2013, a World Gold Council
  official has said. (ET)
.
* MINING: The mines ministry has told the Odisha government that its decision
  of making compulsory sale of at least 50% iron ore produced in the state to
  local industries does not have a legal backing. (NW18)
.
* POLITICS: Janata Party President Subramanian Swamy has moved a trial court
  seeking prosecution of Congress President Sonia Gandhi, Vice-President
  Rahul Gandhi and some others for allegedly misappropriating properties
  owned by Associated Journals Ltd, worth over 50 bln rupees. (NW18)
.
* REGULATORY: The Reserve Bank of India has revised norms for gold deposit
  schemes offered by banks. (NW18)
      The Securities and Exchange Board of India has fined 118 entities in
  Bank of Rajasthan case and has slammed four ex-promoters of the bank
  with a fine of 50 mln rupees each. (NW18)
      SEBI has extended market pre-open sessions to all shares and has also
  allowed illiquid shares to be traded through periodic call auction. (NW18)
      Saumitra Chaudhuri Committee is looking at omitting those items from
  the basket used to collate Index of Industrial Production data that are
  not produced or reported regularly and those products that do not
  contribute much to the index. (ET)
.
* RETAIL: US-based firm Walmart Stores plans to increase outsourcing of
  software development and back-office projects to India. (Mint)
.
* TAXES: The head of the empowered committee of state finance ministers on
  Goods and Services Tax has said that there is broad consensus on
  amending the constitution for GST. (NW18)
      Government may set aside 120 bln rupees in the Union Budget 2013-14
  (Apr-Mar) to compensate states for losses they incurred on reduction
  in central sales tax rate. (ET)
.
* TELECOM: The Supreme Court has rejected curative petitions filed by
  SISTEMA SHYAM TELESERVICES, VIDEOCON TELECOMMUNICATIONS, TATA TELESERVICES,
  IDEA CELLULAR and former Telecom minister A. Raja, who had sought a re-look
  into the apex court's Feb 2, 2012 verdict quashing 122 2G licenses issued
  after 2008. (NW18)
      Finance Ministry is likely to seek cabinet's permission to enter into
  discussions with Vodafone Plc to settle the long-running $2-bln tax
  dispute with the Indian government.  (ET)
.
* TRADE: Commerce, Industry & Textiles Minister Anand Sharma has said
  negotiations on the free-trade agreement with the European Union
  may be concluded in the next few months. (NW18)
.
.
STOCKS
======
* APOLLO TYRES: Has raised the investment limit of foreign institutional
  investors in equity shares and convertible debentures to up to 40%
  of the paid-up capital from 30% earlier. (NW18)
.
* BALKRISHNA INDUSTRIES: Will hive off and list its paper and synthetic
  operations. (NW18)
.
* BIL ENERGY SYSTEMS: Board has approved 10-for-1 stock split. (NW18)
.
* COAL INDIA: Is staring at dwindling sales and profit from e-auction over
  the coming days, as volumes sold via this profitable route are likely
  to drop 11% in 2012-13 (Apr-Mar). (DNA)
.
* COCHIN MALABAR ESTATES & INDUSTRIES: Disposed off its entire holding in
  Cochin Estates Ltd on Feb 12. (NW18)
.
* DLF: Reported consolidated net profit of 2.85 bln rupees for
  Oct-Dec. (NW18)
.
* FLEXITUFF INTERNATIONAL: Plans to raise 300 mln rupees via preferential
  issue and 1.6 bln rupees through foreign currency convertible bonds. (NW18)
.
* GAIL (India): Reported an 18% on year increase in Oct-Dec net profit even
  as it had to shell out more as discounts to oil marketing companies as
  compensation for sale of subsidised fuels. (NW18)
.
* KEC INTERNATIONAL: Will bid jointly with FINOLEX CABLES for government
  fibre optic projects worth 300 bln rupees in the next few weeks. (DNA)
.
* KINGFISHER AIRLINES: Aviation regulatory officials have said most of its
  aircraft are not fit to fly. (ET)
      Its lenders are seeking legal opinion on whether they can exercise
  any lien on promoter Vijay Mallya's liquor assets. (ToI)
.
* KRISHNA FERRO PRODUCTS: To allot eight debentures to promoter Sri Hari
  Kishan Agarwal on private placement basis. (NW18)
.
* MAHANAGAR TELEPHONE NIGAM: Posted a net loss of 11.82 bln rupees in
  Oct-Dec. Its income from operations for the quarter was 8.33 bln rupees.
  (NW18)
.
* POLARIS FINANCIAL TECHNOLOGY: Has launched a new sales office in New
  Zealand. (NW18)
.
* PURAVANKARA PROJECTS: Has approved issuance of up to 45 mln shares through
  the institutional placement programme or any other permitted route. (NW18)
.
* SURABHI CHEMICALS & INVESTMENTS: Has bagged its first infrastructure
  project order worth 104.2 mln rupees from Gloabtel Convergence Ltd. (NW18)
.
* SURYA PHARMACEUTICAL: Has said the corporate debt restructuring empowered
  group has approved a restructuring package for the company. (NW18)
.
* SUZLON ENERGY: Reported a net loss of 11.54 bln rupees in Oct-Dec. (NW18)
      Has decided to close its Rotor Blade and Control Panel manufacturing
  units at the Puducherry facility. (NW18)
.
* TATA MOTORS: Recorded 52% on year decline in consolidated net profit for
  Oct-Dec to 16.28 bln rupees on 4.58-bln-rupee loss of the standalone
  entity. (NW18)
.
* TECH MAHINDRA: Is undertaking an organisational restructuring, where it
  plans to have 30-40 independent chief executive officers functioning
  within the super structure of the company. (NW18)
.
* UNITED BREWERIES: Has said that the company has not pledged any shares to
  the lenders of Kingfisher Airlines. (NW18)
.
* VARUN SHIPPING CO: Lenders have impounded three of the company's vessels.
  (ET)

Inflation Data

CNBC TV-18 :
• India Jan WPI inflation rate 6.62% vs 7.18% Dec
• poll estimated India Jan WPI inflation rate at 6.9%

Daily Report 14-02-2013

Nifty Future Outlook: In view of the above formation on the daily chart it is evident that the upward sloping trendline is acting as resistance for the market. In coming trading session 5920 holds significance. 
Hence if indices trades and close below 5920 levels then it is likely to test 5880 – 5850 levels. On the upside 6000 – 6050 levels may act as resistance for the day.


Data Alert From India –
. Indian  Inflation Data

Data Alert From Overseas  -
. German Prelim GDP q/q at 12.30 pm.
. U.SUnemployment Claims at 7.00pm.


Domestic Stock Specific News  –
. India WPI inflation falls to 3-yr-low at 7.18% in Dec
. India Dec CPI combined inflation rate 10.56% vs 9.90% Nov
. Govt defers implementation of anti-tax avoidance rules to Apr 1, 2016
. Moody's says India's fiscal improvement depends on growth revival
. Hero MotoCorp Gurgaon union source says no plan to go on strike
. Montek says need To align domestic fuel prices To global rates
. Moody's says Tata Power's Mundra project to increase losses for co
. Urjit Patel takes over as RBI deputy governor
. Jaguar Land Rover to hire 800 individuals at its Solihull plant
. SC final hearing in plea against Cairn-Vedanta deal in Feb
. Jaiprakash Power Oct-Dec loss 976 mln rupee vs 595 mln PAT yr ago
. GATI Oct-Dec consol net profit 50.6 mln rupees vs 10.3 mln
. Tata Housing signs 35-bln-rupee MoU with Gujarat govt
. PVR CEO says Expect movie ticket prices to rise 8-10% in FY14
. Life Insurance Corp sells 2.075% stake in Dr Reddy's Laboratories
. SC final hearing on plea against Cairn India-Vedanta deal in Feb

Securities in Ban For Trade Date 14-02-2013
Welcorp, Punjlloyd, Suzlon, IRB,Renuka,Hdil.

TODAY’S RESULT –  

Pradip , Webelsolar , Tulsyan ,  Usheragro , Visuintl , Shivtex , Zenithcomp , Varun , Sharonbio , Zenithcomp , Sunilhitec , Rkforge , Xlenergy , Sudar , Pipavavdoc , Wstcstpapr , Reisixten , Pioneeremb , Wockpharma , Reiagroltd , Pgil , Welcorp , Rppinfra , Pateleng , Viseshinfo , Rasoypr , Parsvnath , Vikashmet , Ramky , Panasonic , Videoind , Ramanews , Timetechno , Vaibhavgbl , Shlakshmi , Timbor , Nitco , Rkdl , Panamapet , Suryapharm , Pgel , Thirusugar , Sbin , Pfocus , Tfciltd , Sayajihotl , Pearlpoly , Teledatagl , Savera , Paraprint , Sezal , Sathaispat , Padmalayat , Orientaltl , Sarthakind , Onelifecap , Tecpro , Sanghiind , Taksheel , Ommetals , Refex , Kscl , Tatamotors , Sswl , Infodrive , Norbteaexp , Sahpetro , Murliind , Take , Ruchisoya , Nehaint , Syncom , Tricom , Neclife , Suzlon , Srhhypoltd , Jindcot , Sci , Srf , Jaihindpro , Metkore , Sreinfra , Ivrclinfra , Melstar , Ruchinfra , Cranessoft , Mblinfra , Rmmil , Bang , Kserasera , Rmmil , Farmaxind , Iolcp , Ranklin , Astec , Lykalabs , Ranasug , Cantabil , Koutons , Ramsarup , Edserv , Indusfila , Spectacle , Ansalhsg , Kitplyind , Spanco , Alpa , Khaitanltd , Rajrayon , Geodesic , Khaitanele , Rajoil , Geindsys , Indiacem , Rajaspetro , Gayaproj , Marksans , Ucalfuel , Dqe , Marg , Twilitaka , Dhanus , Kernex , Softtechgr , Deepind , Kei , Smlisuzu , Dcm , Kavveritel , Skumarsynf , Bepl , Lumaxauto , Siysil , Kovai , Karurkcp , Sirpaper , Indlmeter , Hydros&S , Simplexinf , Mpsltd , Hubtown , Praeng , Compuage , Manaksia , Ppap , Creativeye , Malwacott , Simplexcas , Duncansind , Hondapower , Simplex , Gkb , Neocorp , Polyplex , Drreddy , Nclind , Polaris , Denso , Jindworld , Tvssrichak , Cybertech , Jindalphot , Bajajhind , Elderpharm , Monnetispa , Excelinfo , Ekc , Jeypore Chromatic , Aries , Jbma , Autoridfin , Archidply , Ismtltd , Autolitind , Aqua , Lotuseye , Hdil , Aplab , Lokeshmach , Essdee , Aparinds , Lichsgfin , Centext , Ankurdrugs , Lakshvilas , Austral , Anikinds , Kwality , Atlascycle , Angind , Basml , Hcl‐Insys , Amtekindia , Banarisug , Hblpower , Amtekauto , Balkrisind , , Erainfra, Candc , Ambikco , Classic , Asianelec , Amar , Cinevista , Bhartiship , Alpinehou , Ahlucont , Bharatras , Gss , Dwarkesh , Fsl , Greenfire , Dssl , Fmnl , Brfl , Bodhtree , Dchl , randhouse , Abirlanuvo , Becrel , Alchem , 21stcenmgm , Filatex , Akzoindia , Gisolution , Firstwin , Ahmedforge , 20microns , Hinddorrol , Hitechgear , Genuspower , Crisil , Lakshmiefl , Genesys , Zenithinfo , Fagbearing , Gangotri , Pageind , Fagbearing , Gammonind Zenithexpo , Gail , Gallispat ,Dlf.




EX- Dividend  - Carborundum Uni, KPR Mill, Mayur Uniquoter, MOIL, OCL India, Rane Holdings, Selan Expl, Sundaram Fin, Suprajit Engr.

Board Meeting (Purpose) –BITS,

SECTOR NEWS
===========
* AUTOMOBILES: Renault-Nissan alliance in India plans to spend 20 bln rupees
  on capacity expansion. (ET)
.
* AVIATION: Ministry has decided to do away with the policy mandating
  airlines to fly to certain far-flung regions of the country. (ET)
      Airports Authority of India has brought to the civil aviation
  ministry's attention, several moves by the GMR INFRASTRUCTURE-led
  consortium that runs the New Delhi airport, that were not in keeping with
  terms of agreement between Delhi International Airport and Airports
  Authority of India. (Mint)
.
* DIVESTMENT: The government is planning to mop up 400 bln rupees from
  divestment in public sector companies in 2013-14 (Apr-Mar), an official in
  the Department of Disinvestment said. (NW18)
.
* EXCHANGE: National Stock Exchange to exclude SIEMENS and WIPRO from Nifty
  effective Apr 1. The two shares will to be replaced by NMDC and INDUSIND
  BANK. (NW18)
.
* FINANCE: According to a post by the government's Press Information Bureau
  on social networking site Twitter, Finance Minister P. Chidambaram will meet
  his state counterparts Thursday to resolve impending issues over
  implementation of the Goods and Services Tax. (NW18)
.
* GOVERNMENT: Is set to revise downwards the budgetary expenditure for 2012-13
  by 9% to 13.6 trln rupees from the initially estimated 14.9 trln rupees, and
  peg the size of Budget 2013-14 at roughly the same level as the revised
  figure for this fiscal. (FE)
.
* MUTUAL FUNDS: Of the 607.32 bln rupees worth of incremental flows into
  mutual funds in January, 56% came through direct plan schemes. (ET)
      Tata Capital Growth Fund has invested 1.2 bln rupees for a 14% stake
  in Star Health & Allied Insurance Co. (ET)
.
* OIL & GAS: Oil marketing companies are waiting for nod from Minister of
  Petroleum and Natural Gas Veerappa Moily, to raise petrol price by 1 rupee
  and diesel price by 50 paisa. The companies fear that political
  considerations may deter their plans to raise rates. (ET)
      Oil marketing companies may not raise fuel prices together on one day,
  as this may amount to cartelisation. (BS)
      Bankers have refused Haldia Petrochemicals' promoters' demand to lend
  further capital to the venture without turning the existing debt
  into equity. (BS)
.
* REGULATORY: SEBI has frozen bank accounts and attached assets of two Sahara
  group companies. (NW18)
      The Reserve Bank of India has set up a technical committee to study
  facilities and services provided to exporters under the chairmanship of
  Executive Director G. Padmanabhan. (NW18)
.
* TAXATION: Income Tax Department is looking at ways to relax and simplify
  rules for tax collection and credit associated with foreign investments
  into India, especially via external commercial borrowings. (BS)
.
* TELECOM: Department of Telecommunications has issued notices to
  BHARTI AIRTEL, Vodafone and RELIANCE COMMUNICATIONS to pay additional
  revenue share for spectrum usage from 2008 onwards. (ET)
      Supreme Court has asked Central Bureau of Investigation to identify
  by today a team of officials that will analyse the Nira Radia tapes
  relating to the 2G scam. (ET)
      Uninor has said it has dramatically narrowed its losses to 4.37 bln
  rupees in Oct-Dec, from 48.96 bln rupees in the year ago period. (ET)
      Central Bureau of Investigation is seeking legal opinion to move court
  to appeal for cancellation of UNITECH Managing Director Sanjay Chandra's
  bail. (BS)
.
.
STOCKS
======
* BARAK VALLEY CEMENTS: Has approved the option of disinvestment up to 55% in
  Wholly-owned subsidiary, Valley Strong Cement (Assam). (NW18)
.
* BHARAT PETROLEUM CORP: Reported a net profit of 16.47 bln rupees in Oct-Dec
  against expectations of a loss of 10.29 bln rupees. (NW18)
.
* COAL INDIA: Reported a consolidated net profit of 43.95 bln rupees for
  Oct-Dec, up 8.9% on year, on the back of improved production and sales
  volume. (NW18)
.
* GMR INFRASTRUCTURE: Subsidiary GMR Highways has signed a definitive
  agreement with Macquarie SBI Infrastructure Investments Pte Ltd and SBI
  Macquarie Infrastructure Trust to sell 74% stake in its Andhra Pradesh
  road project, GMR Jadcherla Expressways Ltd, for 2.06 bln rupees. (NW18)
.
* HINDUSTAN OIL EXPLORATION CO: Posted a net loss of 5.29 bln rupees for
  Oct-Dec. (NW18)
.
* INDIAN OIL CORP: Reported a 34% on year increase in its Oct-Dec net profit
  after it accounted for 134.75 bln rupees as subsidy from government for
  selling fuels at regulated rates. (NW18)
.
* JSW STEEL: Steel production in January took a hit because of poor quality
  and insufficient availability of iron ore. (NW18)
      The company's consolidated net loss in Oct-Dec was 737 mln rupees. (NW18)
.
* KINETIC ENGINEERING: Has extended the maturity of its foreign currency
  convertible bonds worth $18 mln to Feb 15, 2014, from the earlier maturity
  of February 2013. (NW18)
.
* KINGFISHER AIRLINES: Core group of lenders to the company met at State Bank
  of India's headquarters to deliberate on the recovery of advances, the
  initial steps towards which may begin 10 days from now. (NW18)
      Indian banking system is preparing to write off, possibly the biggest
  ever single loan account in its history extended to the airline company. (ET)
      International Air Transport Association informed the airline of
  terminating its membership if it fails to take to the skies again. (ET)
      Lenders to the airline company are confident value of collateral
  available to them are enough to cover the company's 70-bln-rupee dues. (BS)
      The company's brand value has come down to zero from around 25 bln
  rupees two years ago. (BS)
.
* LANCO INFRATECH: Is in talks with strategic and financial investors to sell
  stakes in three power projects separately, to raise over 25 bln rupees,
  after attempts to sell stake in its arm that owns all three projects
  failed. (ET)
.
* MAX INDIA: Plans to sell its speciality films business to Treofan Group have
  run into trouble as the German company is offering a much lower value than
  the 5.4 bln rupees it agreed to pay in Sep 2012. (ET)
.
* MERCATOR: Reported a consolidated net loss of 2.3 bln rupees in Oct-Dec,
  down by a one-time provision of 1.7 bln rupees on compensation to be paid
  for pre-termination of charters and loss on sale of a ship by its Singapore-
  listed subsidiary. (NW18)
.
* POLARIS FINANCIAL TECHNOLOGY: Karur Vysya Bank has selected the company's
  intellect global transaction banking solution to help launch its
  greenfield operations in transaction banking. (NW18)
.
* STEEL AUTHORITY OF INDIA: A disinvestment department official said the
  offer for sale to divest 10.82% government stake in the company is likely
  to take place in the second half of March. (NW18)
.
* TD POWER SYSTEMS: The company's engineering, procurement and construction
  arm received orders worth 2.34 bln rupees. (NW18)
.
* TATA MOTORS: Has got an order to supply 26 6X6 multi-axle mobile platforms
  to Bharat Electronics. (NW18)
.
* TATA STEEL: Posted a consolidated net loss of 7.63 bln rupees in Oct-Dec
  as against a 6.02-bln-rupee loss a year ago. (NW18)
.
* UNITY INFRAPROJECTS: Has won orders worth 1.29 bln rupees in Pune and Goa.
  (NW18)
.
* WOCKHARDT: May have to recall some batches of pain relief medicine
  Brexic DT, after a recent alert issued by Drugs Controller General
  of India. (BS)  End