Monday, May 2 - Morning brief for the stock market

Stocks To Watch: Infosys, Camlin, Hero Honda, automobile cos

Monday, May 2 - Morning brief for the stock market:

TOP EVENTS TODAY

* Trade data for March to be detailed by commerce & industry ministry.

* Manufacturing PMI for April to be detailed by HSBC.

* Jan-Mar earnings to be detailed by: ABC Bearings, Alembic, Allahabad Bank, Andhra Sugars, Arrow Textiles, Bank of India, CEAT, Century Enka, Century Textiles & Industries, Delta Magnets, GlaxoSmithKline Consumer Health, Godrej Consumer Products, Harita Seating Systems, Indian Overseas Bank, International Travel House, Jamna Auto Industries, Marico, New Delhi Television, Sunteck Realty, and South Indian Bank.

* Board Meetings of:

+ Tata Capital, to consider scheme of arrangement between Tata Capital and Tata Capital Financial Services.

INDICATORS (previous session)

* NSE provisional net buy/(sale) in bln rupees, Apr 29: FII (6.90), DII (0.61)

* Institutional net buy/(sale) in bln rupees, Apr 28: FIIs (2.7), MF 2.96

* FII NSE futures net buy/(sale) in bln rupee, Apr 29: index (12.4), shr (3.53)

* Sensex 19135.96, down 156.06 points; Nifty 5749.50, down 35.95 points

* Crude: $113.33/bbl; Rupee: 44.21/$1; Gold: $1,545.50/ounce; 10-yr yld: 8.1332%

OUTLOOK

* Domestic share indices may open slightly higher on positive cues from overseas markets but trade may remain rangebound as investors may keep positions light ahead of the Reserve Bank of India's Monetary Policy Statement for 2011-12 (Apr-Mar) on Tuesday.

WEEKLY SECTOR OUTLOOK

* AUTOMOBILE: Down if RBI hikes interest rates 50 bps.

* BANKS: In range; RBI policy, Jan-Mar earnings eyed.

* CAPITAL GOODS: Seen lacklustre; RBI policy eyed.

* CEMENT: Seen positive; Apr despatches data eyed.

* FMCG: Up on defensive buying; Marico eyed.

* INFORMATION TECHNOLOGY: Seen under pressure; Infosys in focus.

* OIL & GAS: Seen sluggish as crude oil strengthens.

* PHARMACEUTICAL: Seen up on defensive buy; earnings eyed.

* STEEL: Seen subdued; RBI policy eyed.

* TELECOM: Seen down; RBI policy eyed.

GLOBAL STOCK MARKETS

* US: Share indices ended higher Friday, with April being the best month of trade as companies reported robust earnings and also as the US Federal Reserve kept its interest rates low for an extended period..

* ASIA: Key Asian share indices were trading near their four-month high today tracking the rise on Wall Street on Friday.

SECTOR NEWS

* AVIATION: Air India cancels 90% of flights on the fifth day of pilots' strike. (Var)

US disappointed, but "respects" India's policy in combat plane deal.

* BANKING: Private banking customers have accused Standard Chartered Bank of selling debentures with buyback option, but later backing out of deal. (ET, Sat)

* COMMODITIES: The empowered group of ministers on food is likely to meet today to decide on extension of edible oil import scheme for subsidised sale.

Cotton Corp of India Chairman B.K. Mishra has said the recent surge in prices may see India's cotton acreage and production rise 5-10% in the crop year starting July.

* ECONOMY: India's March industrial workers' inflation based on consumer price index unchanged on month at 8.82%.

Minister of State (Planning) and Parliament Affairs Ashwani Kumar has said India needs to aim at 4% farm growth in 12th Five-Year Plan.

* EXCHANGES: The Reserve Bank of India has notified that banks can issue irrevocable payment commitments to stock exchanges on behalf of foreign institutional investors for purchase of shares under the Portfolio Investment Scheme.

* FUNDING: The Reserve Bank of India's data shows companies raised $5.63 bln via external commercial borrowing in March.

* IPO: The Securities and Exchange Board of India wants merchant bankers to inform investors about their past record in handling issues at the time of every public offer. (DNA)

* METALS: TATA STEEL Vice-Chairman B. Muthuraman has said India's steel imports are seen at 10 mln tn in 2011-12 (Apr-Mar), nearly 43% higher on year. (Mint)

* MINING: In an ad-interim order, the Supreme Court has suspended iron ore mining in 19 lease areas in the Bellary district of Karnataka.

* PRIVATE EQUITY: Apollo Global Management will partner ICICI Venture to launch a $750-mln special situation fund. (BS, Sat)

* TEXTILES: The government has restructured Technology Upgradation Fund Scheme to boost investment in technology in textile and jute sectors.

STOCKS

* A2Z MAINTENANCE: Has secured a 1.22-bln-rupee-order from MP Madhya Kshetra Vidyut Vitaran Co.

* AGRO TECH FOODS: Has posted net profit of 317.8 mln rupees for 2010-11 (Apr-Mar), and net sales of 7.19 bln rupees for the year.

* ALOK INDUSTRIES: Jan-Mar net profit 1.6 bln rupees, net sales 22.03 bln rupees.

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* AMBUJA CEMENTS: Holcim buys 3.56% more stake in the company thorough open market, taking its total stake to 50%.

* AMTEK AUTO: Jan-Mar net profit 623.5 mln rupees, net sales 4.61 bln rupees.

* AMTEK INDIA: Jan-Mar net profit 370.2 mln rupees, net sales 3.69 bln rupees.

* BAJAJ HINDUSTHAN: Has posted Jan-Mar net profit of 728.2 mln rupees. Plans to raise up to 20 bln rupees via rights issue.

* BHARTI AIRTEL: Plans to raise $1 bln through global bonds issue. (ET)

* CAMLIN: Promoter Dandekar family has decided to sell a majority share in the company to Japan's Kokuyo Co. (BS)

* CAN FIN HOMES: Jan-Mar net profit 128.73 mln rupees, net sales 650.69 mln rupees.

* DABUR INDIA: Is in talks with Ajanta Pharmaceuticals to buy the latter's over-the-counter energiser brand 30-Plus. (ET)

* EID PARRY (INDIA): Jan-Mar net profit 1.61 bln rupees, net sales 4.14 bln rupees.

* EVEREST INDUSTRIES: Jan-Mar net 106.2 mln rupees, net sales 1.97 bln rupees.

* FEDERAL-MOGUL GOETZE: Jan-Mar net profit 149.9 mln rupees, net sales 2.57 bln rupees.

* FINOLEX INDUSTRIES: Has posted net profit at 87.8 mln rupee for Jan-Mar, and net sales at 6.94 bln rupees.

* GHCL: Jan-Mar net profit 257.2 mln rupees, net sales 4.47 bln rupees.

* GREAVES COTTON: Jan-Mar net profit 466.6 mln rupees, net sales 4.52 bln rupees.

* HEG: Jan-Mar net profit 343.6 mln rupees, net sales 2.81 bln rupees.

* HEIDELBERGCEMENT: Jan-Mar net profit 259.9 mln rupee, net sales 2.72 bln rupees.

* HERO HONDA: Munjals' Hero Group and Japan's Honda Motor Co have struck a new licensing agreement under which their erstwhile Indian joint venture company will pay a total of 25 bln rupees to the Japanese automobile giant through 2014.

Has appointed creative firm Law & Kenneth to develop communication strategy for launching and establishing its new brand entity. (BS)

* IDFC: Jan-Mar consolidated net profit 2.87 bln rupees, income from operations 13.0 bln rupees.

* INFOSYS TECHNOLOGIES: Has appointed K.V. Kamath chairman, S. Gopalakrishnan executive co-chairman, and S.D. Shibulal chief operating

officer and managing director.

* JAIN IRRIGATION SYSTEMS: Jan-Mar net profit 1.09 bln rupees, net sales 12.0 bln rupees.

International Finance Corp plans to invest up to $5 mln in a non-banking finance company being set up by the promoters of Jain Irrigation.

* JUBILANT INDUSTRIES: To mull agricultural and performance polymers operation recast.

* KAJARIA CERAMICS: Jan-Mar net profit 184.3 mln rupees, net sales 2.81 bln rupees.

* MADHUCON PROJECTS: Jan-Mar net profit 192.9 mln rupee, net sales 5.93 bln rupees.

* MANAPPURAM GENERAL FINANCE: Approves raising funds through debentures.

* PNB GILTS: Jan-Mar net profit 76.18 mln rupees, net sales 222.25 mln rupees.

* RALLIS INDIA: Jan-Mar net profit 190 mln rupees, net sales 2.34 bln rupees.

* RELIANCE INDUSTRIES: The petroleum ministry has sought security clearance from the home ministry for the company's proposed deal with BP. (FE)

Output from the company's D1 and D3 showcase gas fields, which has seen a sharp fall in output in recent months, is expected to drop further in 2012-13. (ToI)

* SHOPPERS STOP: Jan-Mar consolidated net profit 77.18 mln rupees, income from operations 6.06 bln rupees.

* SIEMENS: Parent Siemens Aktiengesellschaft buys 19.7% in the company through open offer, taking its stake to 74.4%.

* SINTEX INDUSTRIES: Has posted consolidated net profit of 4.6 bln rupees for 2010-11 (Apr-Mar), net sales 44.75 bln rupees.

* STEEL AUTHORITY OF INDIA: Has reported a 28% on-year drop in Jan-Mar net profit to 15.07 bln rupees mainly on higher coking coal prices and rise in employee costs.

* STERLITE TECH: Jan-Mar net revenue 6.82 bln rupees, Jan-Mar net profit 103 mln rupees.

* SUN PHARMA: The company's promoters are planning a 50-bln-rupee foray into the power sector. (ET)

* TATA MOTORS: Plans to launch a small car Nano model that will run 40 km on 1 ltr diesel. (BS, Sat)

Nano sales in April grew 184% on year to 10,012 units in April. (Var)

* TITAN INDUSTRIES: Has posted net profit of 4.3 bln rupees for 2010-11 (Apr-Mar), net sales of 65.2 bln rupees. To pay 25 rupees a share dividend.

Approves 10-for-1 stock split, and 1-for-1 bonus share issue.

* TVS MOTOR CO: Registered sales of 167,744 units in April, up 14% on year. (var)

* UFLEX: Jan-Mar net profit 633.7 mln rupees, net sales 5.94 bln rupees.

* UNITED SPIRITS: Jan-Mar net profit 774.4 mln rupees, net sales 15.97 bln rupees.