Monday, Apr 4 - Morning brief for the stock market:

Stocks To Watch: Cairn India, cement cos, Hero Honda, Diamant Infra

Monday, Apr 4 - Morning brief for the stock market:

TOP EVENTS TODAY

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* Nifty companies detailing Jan-Mar earnings:

+ Bharat Heavy Electricals (provisional).

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INDICATORS (previous session)

* NSE provisional net buy/(sale) in bln rupees, Apr 1: FII 4.15, DII (4.13)

* Institutional net buy/(sale) in bln rupees, Mar 30: FIIs 10.43, MF (3.58)

* FII NSE futures net buy/(sale) in bln rupee, Apr 1: index (1.23), shr (6.47)

* Sensex 19,420.39, down 24.83 points; Nifty 5,826.05, down 7.70 points.

* Crude: $107.94/bbl; Rupee: 44.59/$1; Gold: $1,428.1/ounce; 10-yr yld: 7.9820%

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OUTLOOK

* Share indices are seen opening flat to slightly up on positive cues from most overseas markets, but gains may be limited by profit sales.

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SECTOR STOCKS OUTLOOK

* AUTO: May rise following robust sales data for March.

* BANK: May slip on profit sales; Jan-Mar results eyed.

* CAPITAL GOODS: To trail broad market, profit sales likely.

* CEMENT: Seen up on strong growth in despatches and output for March.

* FMCG: To trade in range with upward bias; HUL eyed

* IT: Seen up following order wins and acquisitions.

* OIL: Seen subdued on rising crude oil prices.

* PHARMA: May raise on stock-specific action.

* STEEL: Seen up on hope of robust Jan-Mar earnings.

* TELECOM: May gain as counters have outperformed market.

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GLOBAL STOCK MARKETS

* US shares ended up on Friday as better-than-expected non-farm payrolls data for March and an unexpected drop in unemployment rate in the US boosted investor confidence in the nation's economic recovery.

* Most key Asian share indices were trading slightly up driven by optimism about an economic recovery after strong US jobs data.

SECTOR NEWS

* AUTOMOBILE: Eicher Trucks and Buses has posted 33% on-year rise in total sales to 5,065 units and 108% on-year gain in exports to 343 units for March.

* AVIATION: Civil aviation ministry is likely to seek government approval to hive off aircraft maintenance and ground-handling services of Air India into a separate business units. (ET)

Global airport operators Changi Airport, Aeroports De Paris, Fraport AG, TAV Investment have shown interest to build Navi Mumbai airport. (FE)

* BANKING: Dutch lender Rabobank has received licence from the Reserve Bank of India for banking operations in India.

Banks have taken up debt recast of six microfinance institutions involving an exposure of 90 bln rupees. (ToI, Sat)

Standard Chartered Bank plans to sell a 725-day loan of $500 mln taken by the Essar Group in Mar 2010 to finance acquisition of US' Trinity Coal Corp. (Mint, Sat)

* COAL: State-owned Singareni Collieries Co has received sanction of 40 bln rupees loan from POWER FINANCE CORP for its 1,200 MW thermal power project in the Adilabad, Andhra Pradesh.

* DIVESTMENTL: Government will review revival plans of all sick enterprises before formulating a divestment policy in 45 loss-making state-run companies.(ET, Sat)

* ECONOMY: Reserve Bank of India Executive Director says the process of fiscal consolidation will further strengthen in 2011-12 (Apr-Mar).

* ENERGY: Government may curb Chinese funds in Indian power companies. (FE)

* ENVIRONMENT & FOREST: Ministry of Environment & Forest is proposing for a minimum support price for minor forest produce like bamboo. (ET)

* FERTILISER: Government repurchased five fertiliser bonds worth 57.63 mln rupees on Thursday.

Gas-based fertiliser units may have to pay more for their feedstock as government mulls pooling its price with that of much-costlier imported liquefied natural gas. (FE, Sat)

Government is considering a new urea-pricing model, which entails an up to 10% rise in urea prices from 5,310 rupees per tn currently. (ET, Sat)

Government has approved a three-step strategy to create a foolproof system for transferring fertiliser subsidy directly to farmers. (BS, Sat)

* GOVERNMENT: Will raise 120 bln rupees via auction of three dated securities on Friday.

Government asks all nodal ministries and departments to seek clearance from not only the finance ministry but also the Cabinet before selling off or leasing out government land. (Indian Express, Sat)

Unique ID Authority of India postpones bid as HP, IBM disagree with the tender process. (ET)

* INFORMATION TECHNOLOGY: US lawmakers seek changes in US work visa programme that may make it more expensive for companies to bring workers into the country on temporary assignment. (DNA Money)

* MINING: Orissa Mining Corp to file a fresh writ in the Supreme Court against the environment ministry against the ban on mining in Niyamgiri hills. (var, Sat)

Government rejects proposal of miners like COAL INDIA and Singareni Collieries Co to hand over their unviable coal mines to Indian and foreign investors through a competitive bidding process. (BL, Sat)

* POWER: NTPC and GAIL (India) in pact to set up gas-based power projects in India and abroad. (HT, Sat)

* RAILWAYS: To invite bids for two locomotive projects next months. (FE)

* STOCK EXCHANGES: Government is mulling National Stock Exchange's request for more time to reduce stake in National Commodity and Derivatives Exchange.

* TAXATION: The Central Board of Excise and Customs has changed service tax rules, making service providers liable to pay tax as soon as they issue an invoice to their clients. (ET, Sat)

* TELECOMMUNICATIONS: Madras High Court reserves order on whether Vodafone can object to merger proposal of Essar Telecommunications Holdings with Indian Securities. (var, Sat)

Central Bureau of Investigation names former telecom minister A. Raja, Unitech Wireless Ltd, Etisalat DB Telecom India Pvt Ltd, RELIANCE

COMMUNICATIONS among others in its first chargesheet in the scam related to allocation of 2G spectrum telecom licenses.

STOCKS

* ACC: Has posted sales of 2.18 mln tn in March versus 1.94 mln tn a year ago.

Company's cement output in March stood at 2.19 mln tn versus 1.94 mln tn a year ago.

* AMBUJA CEMENTS: Has posted cement sales of 2.05 mln tn in March versus 1.95 mln tn a year ago.

Company's cement output in March stood at 1.95 mln tn versus 1.92 mln tn a year ago.

* BALLARPUR INDUSTRIES: Postpones listing of arm BILT Paper Plc on the London Stock Exchange as it expects re-rating of the Indian paper industry.

* BANK OF INDIA: Bank's New Zealand arm has received bank status from Thursday.

* BGR ENERGY SYSTEMS: ties up debt of 30.80 bln rupees to set up a supercritical boiler and turbine manufacturing facility in Chennai, which it is building in partnership with Japan's Hitachi. (DNA, Sat)

* BHARAT ELECTRONICS: Provisional turnover for 2010-11 (Apr-Mar) stood at 55.5 bln rupees, up 6.3% on year.

Exports during 2010-11 (Apr-Mar) stood at $41.69 mln, up 76% on year.

* BHARAT HEAVY ELECTRICALS: May receive an order worth 40 bln rupees from state-owned coal miner Singareni Collieries Co in two-three months.

* CADILA HEALTHCARE: Says the company has met its $1 bln revenue target for 2010-11 (Apr-Mar).

* CAIRN INDIA: Cabinet Committee on Economic Affairs likely to discuss on Wednesday Vedanta's offer to acquire controlling stake in Cairn India.(ToI, Sat)

* CENTURY PLYBOARDS: To venture into the readymade furniture business within a year. (DNA, Sat)

* COAL INDIA: Ministry of power asks company to import coal to meet 30 mln tn of shortfall in its total committed supply to power plants in India. (DNA, Sat)

* COMPACT DISC INDIA: To mull share delisting price on Apr 12.

* DIAMANT INFRASTRUCTURE: Has received orders worth 423 mln rupees.

* DR. REDDY'S LABORATORIES: Company's wholly-owned US arm Promius Pharma is in pact with Valeant Pharmaceuticals International Inc to market the latter's dermatological cream Cloderm in the US.

* DUNLOP INDIA: Is mulling closing its factory in Sahagunj, West Bengal. (BL, Sat)

* GITANJALI GEMS: The company has acquired Italian jewellery chain Giantti Italia for $15 mln. (BS, Sat)

* GREYCELLS EDUCATION: Religare Finvest acquires 6.66% stake in company.

* HERO HONDA MOTORS: Total March despatches stood at 515,852 vehicles, up 24% on year.

Total despatches in 2010-11 (Apr-Mar) stood at 5.40 mln vehicles, up 17% on year.

* HINDUSTAN GLASS: May finalise a overseas acquisition in the pharmaceutical space in the next two-three months. (Mint)

* HOUSING DEVELOPMENT FINANCE CORP: Sees home loan growth of around 20% on year in 2011-12 (Apr-Mar).

* IDEA CELLULAR: Department of Telecommunication has got an ex-parte stay from the Delhi High Court on IDEA CELLULAR-Spice merger. (PTI, Sat)

* IFCI: Has invoked pledge on 14.8 mln shares of MURLI INDUSTRIES and increased its stake to around 30% in the company.

* ISMT: Has said that operations at its unit in Ahmednagar, Maharashtra, have not been significantly hurt by workmen's strike.

* JAIPRAKASH POWER VENTURES: Company's shareholders will mull on Apr 30 the merger of two of its subsidiaries Jaypee Karcham Hydro Corp and Bina Power Supply Co.

* JINDAL SAW: Has started construction for its steel pipe plant in Kutch district without necessary environment clearances. (BS)

* JK PAPER: To mull raising up to 2.25 bln rupees via foreign currency convertible bonds on Friday.

* JSW Steel: Revives plans of listing in London, may put its overseas mining assets in single unit and list the entity in a year's time. (BS)

* MARG: Targets 50 bln rupees turnover in three years. (DNA, Sat)

* MUKAND: Has said that foreign partner NV Bekaert SA, Beligium, has raised stake in joint venture Mukand Bekaert Wire Industries Pvt Ltd.

* NMDC: To hike iron ore lump prices by 10% over the price in Jan-Mar. NMDC has kept iron ore fines prices unchanged.

Company's total iron ore production rose 6% on year to 25.19 mln tn in 2010-11 (Apr-Mar), while iron ore sales volume rose 9% on year to 26.33 mln tn.

NMDC sees 80% year-on-year rise in sales during 2010-11 (Apr-Mar) due to higher iron ore prices.

* OIL AND NATURAL GAS CORP: Arm ONGC Videsh has invoked force majeure clause for its Libyan block in order to get extra time for fulfilling its drilling commitments. (BS, Sat)

* ORIENTAL BANK OF COMMERCE: Has hiked deposit rates of two maturities by 75 bps and cut rates on four bulk deposits by 25-100 bps from Saturday.

* POWER FINANCE CORP: Has formed a subsidiary called Power Finance Corp Green Energy to provide financial support for green energy generation.

* PROCTER & GAMBLE HYGIENE & HEALTH CARE: Has raised prices of detergent brand Tide Plus after HINDUSTAN UNILEVER hiked prices of its detergent brands. (ToI, Sat)

Has cut prices of Pantene shampoo by 15%. (DNA Money)

* RELIANCE INFRASTRUCTURE: Says it has arranged to meet demand for power after TATA POWER ended its energy-supplying agreement with the company.

* SATYAM COMPUTER SERVICES: To pay 6.17 bln rupees to the income tax department under the foreign tax credit liability. (PTI, Fri)

* SHRIRAM TRANSPORT FINANCE CORP: Temasek Holdings is in talks with private equity firm TPG Capital to buy a part of its stake in company. (BS)

* SIEMENS: Has received an order worth 5.85 bln rupees from Chennai Metro Rail and another worth 1.62 bln rupees from Kolkata Metro Rail Corp.

* SJVN: Company's 1,500 MW Nathpa Jhakri plant has generated 7,140 mln units of power in 2010-11 (Apr-Mar) versus 7,019 mln units a year ago. (ET, Sat)

* SUPREME INDUSTRIES: Has acquired 11.29% stake in MALABAR TRADING CO via preferential allotment of shares.

* TATA CHEMICALS: Is integrating arms in UK, US, and Kenya under the Tata Chemicals corporate brand in a re-branding exercise. (var, Sat)

* TATA CONSULTANCY SERVICES: Wins multi-year, multi-million dollar contract from US' Air Liquide to provide application support, maintenance and development services. (BS, Sat)

* ULTRATECH CEMENT: Has posted 2.19% on-year rise in sales to 3.78 mln tn, and 2.4% on-year rise in cement output to 3.75 mln tn for March.

Company's Apr-Mar cement sales stood at 38.41 mln tn, up 3.2% on year, and output for the period stood at 38.43 mln tn, up 3.1% on year.

* VAKRANGEE SOFTWARES: Promoter company increases stake in VAKRANGEE SOFTWARES to 9.49% from 4.88%.

* V-GUARD INDUSTRIES: Has posted 2010-11 (Apr-Mar) sales turnover of over 7 bln rupees, up 50% on year.

* WIPRO: To buy oil-and-gas-information-technology service operations of US' Science Applications International Corp in an all-cash deal worth $150 mln.