Wednesday, Jun 15

Stocks To Watch: Tata Motors, Maruti Suzuki, Cairn India, HCC
Wednesday, Jun 15 - Morning brief for the stock market:

TOP EVENTS TODAY
* Companies to make advance tax payment for Apr-Jun.
* Jan-Mar earnings to be detailed by: Todays Writing Products.
* Annual General Meet of: LGB Forge Ltd, Amradeep Industries, Kappac Pharma, LG Balakrishnan & Bros, Sonata Software, Turbotech Engineering.
.
* Board Meetings of:
+ Grauer & Weil India to consider 10-for-1 stock split.
+ Shree Ram Mills to consider allotment of shares.
+ Vax Housing Finance Corp to consider allotment of 4.1 mln shares post
conversion of warrants.

INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Jun 14: FII (7.98), DII 6.11
* Institutional net buy/(sale) in bln rupees, Jun 13: FIIs (1.17)
* FII NSE futures net buy/(sale) in bln rupee, Jun 14: index 3.33, shr (1.67)
* Sensex 18,308.66, up 42.63 points; Nifty 5500.50, up 17.70 points
* Crude: $99.43/bbl; Rupee: 44.74/$1; Gold: $1,523.50/ounce; 10-yr yld: 8.2819%

OUTLOOK
* Domestic share indices are likely to open flat today and trade in a narrow range for most of the session as investors may avoid taking large positions a day before the Reserve Bank of India details its mid-quarter policy review.

GLOBAL STOCK MARKETS
* US: Shares on Wall Street rose more than 1% Tuesday due to better-than-expected data on US retail sales and China industrial production growth in May.
* ASIA: Most Asian share indices rose today as strong US retail sales data boosted exporters' earnings prospects.

SECTOR NEWS

* AUTOMOBILE: Honda Siel Cars has cut the price of its sedan 'City' by up to 66,000 rupees. (ET)
* BANKING: The Reserve Bank of India says banks' profitability may be hurt because of cost pressures
* CEMENT: Prices of cement have fallen by 5-15 rupees per 50-kg bag this month due to low demand. (DNA
* ENERGY: The petroleum ministry plans to tell the Comptroller and Auditor General of India that some of its observations in the report on oil and gas exploration companies are not practical and would repel the much-needed private capital in the sector. (ET)
Mahanagar Gas plans to spend 3-4 bln rupees annually on capital expenditure for the next five years.
* INSURANCE: The Insurance Regulatory and Development Authority has slapped a fine of 500,000 rupees each on six general insurance companies. (BS)
* METALS: TATA STEEL and JINDAL STEEL & POWER will use large inferior coal deposits in the country to produce ultra clean liquid fuels such as diesel
and naphtha. (ET)
* POWER: The Nigerian government has short-listed 12 Indian companies to participate in the privatisation of 18 state-owned power generation and distribution firms in that country. (DNA)
* REAL ESTATE: Government fear forces merchant banks to ready bid for National Building Construction Corp's small initial public offering.
* REGULATOR: The RBI says Indian companies may face refund risk on maturity of foreign currency convertible bonds.
The RBI says overseas subsidiaries of non-banking finance companies cannot become a vehicle for the parent's capital raising abroad to fund domestic operations.
* SUGAR: Domestic sugar mills have sought approval from the government to export 1.5 mln tn additional sugar.
* TELECOM: The Department of Telecommunications is considering sweeping changes in the proposed telecom policy. (BS)
Essar Group is likely to exit the telecom business in Africa. (ET).
Chinese telecom equipment maker Huawei is investing $120 mln-$150 mln to set up a research and development campus at Bengaluru. (BS)

STOCKS

* APOLLO TYRES: Has entered the Sri Lanka market through a tie-up with Ideal Motors to sell its tyres.
* BASF INDIA: Says parent company has no plan to buy out minority shareholders.
* BANK OF MAHARASHTRA: Will take a 1.02-bln-rupee hit due to provisions for staff costs in 2011-12 (Apr-Mar).
* BGR ENERGY SYSTEM: Surrenders electricity trading licence obtained from the Central Electricity Regulatory Commission.
* CAIRN INDIA: The Comptroller and Auditor General of India report indicating the petroleum ministry favoured three oil and gas exploration firms may cast a shadow when the Cabinet decides on Vedanta Resources' proposal to acquire control in the company. (ToI)
* COAL INDIA: Has assured the government it would make efforts to increase coal availability by 28 mln tn this financial year. (PTI)
* DAZZEL CONFINDIVE: In pact with Delhi-based Alankit Assignment to set up around 1,000 kits for the Unique ID project.
* DR REDDY'S LABORATORIES: The company's Mexico-based bulk drug unit has got US Food and Drug Administration warning letter for norms violation.
* HINDUSTAN CONSTRUCTION CO: Maharashtra Chief Minister Prithviraj Chavan has said the option of regularising the illegalities of Lavasa project would be examined. (ToI)
The Maharashtra government is expected to file a case against Lavasa Corp for violation of environmental norms. (ET)
* HINDUSTAN PETROLEUM CORP: Will soon create an arm that will hold its exploration and production assets. (BS)
* INFRASTRUCTURE DEVELOPMENT FINANCE CORP: Raises 2.75 bln rupees via 31-month bonds.
* ITC: May split its chairman's post into two by creating an additional position such as chief executive officer or managing director. (ToI)
* MARUTI SUZUKI: Has agreed to a separate workers union at Manesar plant. (ToI)
* MASTEK: The company's UK arm has got a multi-year IT services contract with a commitment of minimum initial revenue of 8 mln sterling (586.14 mln
rupees).
* NOVA IRON AND STEEL: Bhushan Power and Steel has acquired 50.6% stake in the company, triggers open offer norms.
* NTPC: Has formed a joint venture company, National Power Exchange, to set up a power exchange. (BS)
* POWER GRID CORP: Will bid for a domestic contract for the first time. (ET)
* PVR: Will take Hollywood movies to small towns of India by dubbing latest English releases in Hindi and other languages. (BL)
* RELIANCE INDUSTRIES: The petroleum ministry has ruled out any loss to the state exchequer on account of the company raising the capital cost of
developing the Krishna Godavari basin. (ET)
The company will dilute its stake in freight services firm Deccan 360. (ET)
The company's telecom unit Infotel Broadband may have to acquire additional spectrum for its soon-to-be launched wireless broadband services.
(Mint)
In its annual update, Niko Resources, the company's partner at the offshore KG D6 field, has downgraded the estimated quantity of recoverable
reserves. (FE)
* RELIANCE INFRASTRUCTURE: The Maharashtra Electricity Regulatory Commission will seek public view next month on whether it can grant the city's suburban power distribution to the company. (HT)
* SHOPPERS STOP: To open 24 new stores by March 2014. (ET)
* SHRIRAM EPC: The company's wind turbine manufacturing unit expects its topline to double to around 10 bln rupees by March. (DNA)
* SURYACHAKRA POWER CORP: Arm signs MoU for a 5 MW solar power plant with Gurgaon-based Sunborne Energy Services and Hyderabad's CITADEL Research & Solutions.
* TATA MOTORS: Will study Singur land bill passed by the West Bengal assembly scrapping its ownership of the Nano plant site and take appropriate steps.
Tata Group Chairman Rattan Tata has said there is a need to critically examine the company's joint venture with Fiat. (ET)
The bus-making associate of the company, Automobile Corp of Goa, is looking at a near 50% increase in output this financial year. (BS)
* WIPRO: IT business unit, Wipro Infotech, gets an e-governance order from the Punjab government to implement tax management system.