Tuesday, Apr 5 - Morning brief for the stock market:

Stocks To Watch: Suzlon Energy, Idea Cellular, GVK Power, Tecpro

Tuesday, Apr 5 - Morning brief for the stock market:

TOP EVENTS TODAY

* Board Meetings of:

+ Punjab Alkalies & Chemicals to consider receiving technical/financial bids for disinvestment by Punjab State Industrial Development Corp.

INDICATORS (previous session)

* NSE provisional net buy/(sale) in bln rupees, Apr 4: FII 6.04, DII (3.89)

* FII NSE futures net buy/(sale) in bln rupee, Apr 4: index 13.93, shr (5.11)

* Sensex 19,701.73, up 281.34 points; Nifty 5,908.45, up 82.40 points.

* Crude: $108.47/bbl; Rupee: 44.59/$1; Gold: $1,436.50/ounce; 10-yr yld: 7.9820%

OUTLOOK

* Local shares are seen opening flat on subdued global cues. They could rise later as foreign institutional investors continue to pour funds, particularly in the mid- and small-cap segment.

GLOBAL STOCK MARKETS

* US shares ended flat on Monday as gains due to a slew of merger and acquisition deals outweighed losses in chipmakers' shares.

* Key Asian share indices were subdued, with Japan's Nikkei slumping 1%, as semiconductor stocks declined after data showed average sales of global chips fell 1.1% in February from a month ago.

SECTOR NEWS

* AGRO FOOD: International Finance Corp plans to invest up to $30 mln in Karnal-based basmati rice processing company Dunar Foods.

* BANKING: Finance ministry has sought strict norms for non-banking finance companies that wants to convert into banks or promote banks. (ET)

* ELECTRICITY: India's 2010-11 (Apr-Mar) electricity generation 811.10 bln kWh was up 5.6% on year.

* ENERGY: State-owned oil marketing companies' under recoveries may reach a record 1.74 trln rupees in FY12 if crude oil prices were to stay at current levels.

* EXCHANGES: Forward Markets Commission has summoned National Multi Commodity Exchange promoter in connection with a probe into alleged financial irregularities in the exchange.

* FOREIGN INVESTMENT: International Finance Corp the private investment arm of World Bank is planning to increase equity investments in India. (Mint)

* HOSPITALITY: New York Stock Exchange-listed Wyndham Hotel Group has signed up seven more properties in India for its 'Ramada' and 'Days Inn' brands.

* TAX: Finance ministry is likely to exceed total tax collection of 7.82 lakh crore for 2010-11 (Apr-Mar). (BS)

STOCKS

* ASHOK LEYLAND: Total commercial vehicle sales in March rose 47% on year to 12,168 vehicles.

* CAIRN INDIA: Petroleum Secretary has said Cairn Energy may need no objection from OIL AND NATURAL GAS CORP to sell stake in the company to

Vedanta Resources.

* CESC: Has submitted bids to acquire majority stake in state-owned power plants and distribution companies in Nigeria. (DNA Money)

* DABUR: Company, EMAMI opts out of race to buy controlling stake in Indian subsidiary of Germany's Henkel. JYOTHY LABORATORIES is the frontrunner to buy the arm. (ET)

* ELECTROSTEEL CASTINGS: Forms joint venture with Dart Energy for Parbatbur coalmine degassing project.

* FORTIS HEALTHCARE: Arm Fortis Malar Hospitals buys 170-bed Oasis Hospitals in Sri Lanka. (ToI)

* GAIL (INDIA): Arm GAIL Gas has formed a joint venture with a Gujarat civic body for city gas distribution in and around Vadodara.

* GRAVITA INDIA: Along with arm Gravita Exim acquired 60% stake Jammu-based K. M. Udyog which has lead refining capacity of 7,200 tn/year.

* GVK POWER & INFRASTRUCTURE: Is set to acquire Hancock Coal in Australia and has signed exclusivity agreement. Deal size likely around $8 bln. (BS)

* IDEA CELLULAR: Seeks vacation of Delhi High Court ex-parte stay on Spice merger.

Promoter entity Aditya Birla group denies talks of stake sale in the company with South Africa's MTN group. (ET)

* LUPIN: US firm Allergan sues US arm of the company for patent infringement over ophthalmic solution Zymaxid. (FE)

* MOTHERSON SUMI SYSTEMS: Delhi High Court has approved merger of wholly owned arms, Balda Motherson Solution and Motherson Tradings with the company.

* RELIANCE INFRASTRUCTURE: Will continue with its proposed 7.2 km sea link between Worli and Haji Ali in Mumbai even as Maharashtra government plans to explore a coastal road instead as it would be much cheaper. (BS)

* SATRA PROPERTIES: Two promoters buy 10.15% in the company from Sicom Investments.

* SPICEJET: Promoter KAL Airways has pledged nearly 14.84% of the company's shares so far. It holds 38.61% stake in the company.

* STERLITE TECHNOLOGIES: Has received letter of intent for acquisition of two transmission units by PFC Consulting Ltd. (BL)

* SUZLON ENERGY: Has raised its stake in Germany's REpower Systems to 95.16% and plans to acquire the remaining shares to make it a wholly-owned arm.

Company's issue to raise up to 50 bln rupees through 5-year Foreign Currency Convertible Bonds convertible at 46.05 rupees each opened Monday.

* TATA MOTORS: Paid annual lease rent of 900 mln rupees to renew Singur land lease for a year. (Mint)

Nanao production to increase as demand revives in March. (Mint)

* TECPRO SYSTEMS: Has received an order worth 2.56 bln rupees from NTPC for a coal handling plant in Jharkhand.

* UNITECH: Foreign telecom partner Telenor says made India foray post 2G spectrum allotment to the company.

* WIPRO: Former Chief Executive Officer Suresh Vaswani is likely to head Dell Services in India. (ET)