Wednesday, Aug 3 - Morning brief for the stock market:

Stocks To Watch: DLF; SBI; JSW Ispat; Reliance Infra; Wockhardt
Wednesday, Aug 3 - Morning brief for the stock market:
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BIG PICTURE
* Moody's assigns negative outlook to US, retains AAA sovereign rating (var)
* US Congress approves debt ceiling limit hike, spending cut bill (var)
* Indonesia to stop mineral exports from 2014, to consider levying higher export duty in run-up to 2014 (var)
* Govt says no plan to link General Provident Fund rate to EPF
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TOP EVENTS TODAY
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* Nifty companies detailing Apr-Jun earnings:
+ Bharti Airtel (consol net profit seen 15.31 bln rupees, up 9% on quarter)
* Apr-Jun earnings to be detailed by: Ceat, Deep Industries, Federal-Mogul Goetze (India), Fiem Industries, Himatsingka Seide, Hindustan Copper, Jindal
Drilling and Industries, IG Petrochemicals, Kirloskar Electric Co, Oberoi Realty, OCL India, Maharashtra Seamless, S Mobility, Standard Chartered, Swaraj Engines, Technocraft Industries, Tide Water Oil Co (India), Trident, TVS Srichakra, United Spirits.
* Annual General Meet of: Arihant Superstructures, Everonn Education, HOV Services, Kirloskar Electric Co, Lloyds Metals and Energy, New Delhi Television,
PAL Credit and Capital, Precision Wires India, Swaraj Engines, Tata Steel, TVS Srichakra.
* Board Meetings of:
+ Indian Bright Steel Co to consider allotment of 3.55 mln shares.
+ LGS Global to consider merger of Ybrant Digital with self.
+ Ram Kaashyap Investment to consider $150 mln fund raising plan.
+ SVC Resources to consider opening of GDR issue.
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INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Aug 2: FII (2.02), DII 1.40
* Institutional net buy/(sale) in bln rupees, Aug 1: FIIs (1.57), MF (1.60)
* FII NSE futures net buy/(sale) in bln rupee, Aug 2: index 14.09, shr (4.08)
* Sensex 18109.89, down 204.44 points; Nifty 5456.55, down 60.25 points
* Crude: $93.79/bbl; Rupee: 44.27/$1; Gold: $1641.90/ounce; 10-yr yld: 8.4328%
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STOCKS OUTLOOK
* Share indices are seen opening 1% lower today, with the Nifty likely to slip below 5400 due to sharp sell-off in US and Asian markets.
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GLOBAL STOCK MARKETS
* US: Wall Street slumps over 2% on Tuesday on poor consumer spending data and concerns the country may not be able to escape a rating downgrade despite
passing the debt limit plan.
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* ASIA: Indices fell 1-3% today, mirroring Wall Street losses as disappointing US June consumer spending data fuelled worries about global recovery.
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SECTOR NEWS
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* AVIATION: Government has approved equity infusion of 5 bln rupees in the cash-strapped national carrier Air India.
Kingfisher, Jet Airways to move out from New Delhi airport's T3 terminal. (ET).

* BANKING: RBI has said banks that act as market makers in derivative products must price them independently, and foreign banks must price derivative products locally.
Bank unions threaten all-India strike on Aug 5. (ET)
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* COAL: The group of ministers on coal mining will meet again on Aug 24 to appraise the 'go, no-go' classification of forest areas for mining.
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* CORPORATE: Indian companies invested $2.69 bln in overseas joint ventures and subsidiaries in July, compared with $5.48 bln in June, RBI data shows. (
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* ECONOMY: Chief Economic Adviser Kaushik Basu has expressed confidence that the country's economy will expand by close to 8.5% in 2011-12 (Apr-Mar).
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* MICRO FINANCE: Bhartiya Samruddhi Finance in talks with banks, private equity funds to raise 3 bln rupees. (BS)
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* MINING: Miners want forest department to share responsibility for environmental degradation. (ET)
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* POWER: 20 companies, including Tata, Birla, Essar, Adani and JSW group, have bid to build a 4,000 MW ultra mega power project in Odisha. (ToI)
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* REAL ESTATE: Maharashtra government says 21 of 23 new towers on Navi Mumbai's Palm Beach Road unauthorised. (var)
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* REGULATORY: SEBI has asked bourses to daily send details of all transactions to investors through short messaging service on mobile phones and emails. (N
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* STEEL: South Korean major Posco's memorandum of understanding with Odisha government to build a plant in the state lapses. (BS)
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* TELECOM: Telecom Regulatory Authority of India ask mobile telecom operators to justify hike in call rates. (BS)
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STOCKS
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* ASHOK LEYLAND: Reported 16% on-year growth in total commercial vehicle sales in July at 7,834 units.
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* BANK OF INDIA: Life Insurance Corp of India has raised its stake in the bank by 2.06% to 9.21% via open market transactions.
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* BEML: Has launched its products in Thailand and appointed a distributor.
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* BHUSHAN STEEL: Has secured a $258-mln export finance facility from three banks.
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* COAL INDIA: May not be able to bid for stake in Indonesian mining company as it is yet to get government clearance. (ET)
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* DB REALTY: Adani to pay company 1.5 bln rupees to buy 50% of 1.1-acre plot in Mumbai's Cumballa Hill. (ET, Mint)
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* DLF: To sell Gurgaon plot for 4 bln rupees; Tata Realty, M3M Developers seen bidders. (ET)
Has challenged additional tax demand of 5.46 bln rupees raised by the Income Tax Department for the assessment year 2008-09.
Reported 13% year-on-year decline in Apr-Jun consolidated net profit at 3.58 bln rupees, despite a 21% growth in sales to 24.46 bln rupees.
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* FORTIS HEALTHCARE: May buy Vietnamese hospital in $100 mln deal. (Bloomberg)
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* FUTURE CAPITAL HOLDINGS: Apr-Jun net profit soared to 184.57 mln rupees from 114.32 mln rupees a year ago.
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* GMR INFRASTRUCTURE: Opts out of race to buy Australian mine Bandanna. (ET)
Delhi International Airport Ltd, in which GMR Infra holds over 50% stake, skips interest payment to banks for third month. (FE)
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* GVK INDUSTRIES: Emerges as lowest bidder for 28.15-bln-rupee Madhya Pradesh highway project. (DNA
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* HOUSING DEVELOPMENT FINANCE CORP: Has hiked its Prime Lending Rate by 50 basis points to 16.50%.
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* JSW ISPAT (ISPAT INDUSTRIES): Signs 61.50-bln-rupee debt refinancing deal enabling company to exit a corporate debt restructuring programme. (Reuters)
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* JSW STEEL: West Bengal government chides company over delay in building 10 mln tn steel plant in the state. (BS)
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* KEMROCK INDUSTRIES: Has launched industrial grade carbon fibre.
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* NATCO PHARMA: Seeks India's first 'compulsory' generic licence to sell generic version of Bayer's cancer drug Nexavar. (ET)
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* NMDC: Is likely to acquire two overseas iron ore mines within the next 100 days.
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* OIL & NATURAL GAS CORP: Is revising its policy on marginal fields to improve yield. (BS)
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* PIRAMAL HEALTHCARE: Expects contract research and manufacturing business to grow 20% in 2011-12 (Apr-Mar); Apr-Jun net profit was up 10.5% at 892 mln rupees.
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* PHOENIX MILLS: Raises stake in Bangalore Market City project to 46.4% by acquiring HBS Realtors' 8.6% share. (Mint)
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* POWER GRID CORP OF INDIA: Apr-Jun net profit increased marginally to 7.05 bln rupees, total income grew 10% to 22.02 bln rupees
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* RADICO KHAITAN: To launch 'After Dark' whisky by September, to price it at 400-450 rupees per bottle. (FC)
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* RELIANCE INFRASTRUCTURE: Gets licence to supply power in suburban Mumbai for another 25 years. (ToI)
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* SPICEJET: Plans new routes to connect towns in South India. (Mint)
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* STATE BANK OF INDIA: Tells Parliament it has set up account tracking centres across all its 14 circles to monitor non-performing assets. (PTI)
Government to soon approve merger of State Bank of Hyderabad and State Bank of Patiala with the bank. (FE)
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* TATA METALIKS: To shut Goa plant as iron ore supplies hit. (PTI)
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* TITAGARH WAGONS: Apr-Jun net profit increased to 271.6 mln rupees from 205.8 mln rupees a year ago.
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* WOCKHARDT: Sells nutrition operations, related industrial operation of CAROL INFO SERVICE to Danone for around 250 mln euro.
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