Monday, Apr 21 - Morning brief for the stock market.

STOCKS

* HERO MOTOCORP: Plans to set-up a full-fledged manufacturing plant each in

Colombia and Bangladesh.

* JET AIRWAYS: Has terminated services of close to 40 employees based in Delhi

across various departments.

* JSW STEEL: Has begun talks to purchase smaller rival Welspun Maxsteel for

about 10 bln rupees. (ET, Sat)

* NATCO PHARMA: The US court has denied Teva Pharmaceuticals' plea staying

Copaxone patent saying that the company can claim damages for the same.

* NTPC: Company may be allowed to divert unutilised gas to other plants.

* OIL INDIA: Has signed a pact with Ireland's PetroNeft Resources for securing

50% non-operating interest in Licence 61, Tomsk Oblast in Siberia for $85 mln.

* PRIME INDIA OPPORTUNITY: Sold 115,275 shares of R S Software (India) at

202.35 rupees.

* WIPRO: Reported consolidated net profit of 22.26 bln rupees, up 28.80% on year

in Jan-Mar. Net sales rose 21.75% on year to 117.03 bln rupees.

DATA ALERT

JAPAN STEEL PRODUCTION for Mar. 1030 IST.

JAPAN SUPERMARKET SALES for Mar. 1030 IST.

US CHICAGO FED NATIONAL ACTIVITY INDEX for Mar. 1800 IST.

US LEADING INDICATORS for Mar. 1930 IST.

CONFERENCES

* WORK SAFETY: Labour and employment secretary Gauri Kumar to attend PHD Chamber discussion on safety and security of women at workplace and construction workers. 1100 IST, New Delhi.

* MANUFACTURING MEET: Commerce Secretary Kher to be present at ASSOCHAM Industry Interactive Session on "Manufacturing Led Exports: Key for Sustainable Growth". 1600 IST, New Delhi.

RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo(at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

MARKETS

Call  : To open around RBI's repo rate on banks' demand to meet reserve needs early in the session. 1-day call: 8.00-9.00% vs 8.20% 2-day Thu.

Bonds : Seen steady today. May take opening cues from US Treasury yields. 10-year bond yield: 8.80-8.95% vs 8.85% Thu.

Rupee : To track global cues. Bunched-up flows may aid but oil cos' dlr demand to weigh. Range: 60.00-60.60/$1 vs 60.29/$1 Thu.

Stocks: Seen opening marginally higher amid firm global market cues. Nifty range 6750-6820; Thursday-end 6779.40, up 104.10 points.

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MARKETS TO OPEN HIGHER ON POSITIVE GLOBAL CUES. EYE ON WIPRO,MINDTREE, HCL TECH, HDFC BANK

Indian markets are seen opening higher on constructive global cues. U.S. stocks on Wednesday climbed for a third session after U.S. industrial production rose more than projected, Yahoo's earnings topped estimates and Federal Reserve Chair Janet Yellen reiterated the central bank would keep up its backing of the recovery. Asian stocks turned mixed on Wednesday with Japan's Nikkei down on profit-taking while renewed optimism over the U.S. economic recovery lifted the rest of the region. Back home, FIIs yesterday sold Rs 44.69 crs in cash market and 397 crs in stock futures. One big positive is that they bought Rs 197 crs worth of index futures.

TOP EVENTS TODAY

* Nifty companies detailing Jan-Mar earnings:

  - Wipro (net profit seen 20.89 bln rupees, up 21% YoY, 4% QoQ)

  - HCL Technologies (net profit seen 15.27 bln rupees, up 47% YoY, 2% QoQ)

* Annual General Meetings of: CRISIL, GlaxoSmithKline Pharmaceuticals

GLOBAL STOCK MARKETS

* US: Benchmark indices ended in the green for the third consecutive session on Wednesday, on the back of positive earnings and economic data.

* Most Asian indices were up today, taking note of the positive end on Wall Street overnight.

STOCKS

* AARTI INDUSTRIES: The company has denied reports of a fire at its Boisar unit.

* BAJAJ AUTO: The workers' union at BAJAJ AUTO's Chakan facility has issued a notice to the management stating that its members would stop work from Apr 28 if its demands are not met.

* BHARAT SEATS: Posted Jan-Mar net profit of 17.29 mln rupees, down 30.10% on year. Net sales fell 1.09% year-on-year to 1.55 bln rupees.

* BHARTI AIRTEL: Launched cheaper data and call rate for night use, whichincludes unlimited local Airtel to Airtel call for 7 rupees and 1 GB 3G data for 49 rupees.

* DHANUKA AGRITECH: HDFC Midcap Opportunity Fund Wednesday bought 899,200 shares, or 1.80% stake, of the company at 231 rupees per share.

* GMR INFRASTRUCTURE: The aviation regulator has grounded 11 pilots of the company's subsidiary, GMR Aviation, for three months.

* GOLECHHA GLOBAL FINANCE: CRB Trustee sold 42,665 shares of the company on Wednesday at 4.92 rupees a share.

* HINDUSTAN UNILEVER: Plans to sell six residential flats in Navi Mumbai.

* IDEA CELLULAR: Private equity players Kohlberg Kravis Roberts and Blackstone have bid for a total of 8% stake in the company.

* INFOSYS: Has been selected as vendor by Eastern Bank to enhance the latter's online and mobile banking products.

* JET AIRWAYS (INDIA): Has denied cancelling its order for 17 Boeing 737 aircraft as reported by a news paper and said that it has in fact opted for a more fuel-efficient variant.

* JSW ENERGY: Promoter group company JSW Techno Projects Management has pledged 87.1 mln shares or 5.31% of the company with IDBI Trustee.

* JSW STEEL: Raised stake in Vallabh Tinplate to 50% on Tuesday.

* LUMAX AUTO TECHNOLOGIES: Grovsnor Investment Fund sold 104,641 shares of

the company on Tuesday at 118.88 rupees per share.

* OIL INDIA: Is weighing a bid for part of Murphy Oil Corp's assets in Malaysia.

* PIRAMAL ENTERPRISES: Is likely to pay $300 mln for 20% stake in Shriram Capital.

* SPICEJET: May elevate current Chief Operating Officer Sanjiv Kapoor to chief executive officer's position.

* SITI CABLE NETWORK: Plans to add 6 mln customers this financial year.

* TATA MOTORS: Is restructuring its production across six factories to improve margins and plant viability.

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MARKETS TO OPEN HIGHER ON POSITIVE GLOBAL CUES.

     Indian markets are expected to open higher on supportive global cues but gains will be capped on negative IIP and FIIs data. U.S. stocks advanced Monday, after the Nasdaq Composite briefly detoured into negative terrain, as investors embraced data that had U.S. retail sales jumping the most since 2012 while tracking tensions in Ukraine. Infosys Q4 result will be announced today. Management commentary for the June quarter, clarity on deal pipeline and signals on talent retention will be closely watched. Markets will react to disappointing IIP data released on Friday after market close which came in at negative 1.9% against expectations of 0.9 expectations.WPI inflation data will also be released today at 11 am. CPI inflation data will be released after market hours. FIIs data was negative after 2 months. They sold Rs 362 crs in cash markets, Rs 305 crs in index futures and Rs 719 crs in stock futures. However, DIIs have bought Rs 365 crs in cash markets. On Friday, Sensex had declined 86 points to close at 22629. There was profit booking in the market indices touched fresh high. Traders were seen booking profit ahead of long holiday. Sensex gained nearly 300 on weekly tally.

DATA ALERT
* JAPAN REVISED MACHINE TOOL ORDERS for Mar. 1130 IST
* UK PRODUCER PRICE INDEX for Mar. 1400 IST
* UK CONSUMER PRICE INDEX for Mar. 1400 IST
* GERMANY ZEW ECONOMIC SENTIMENT INDICATOR for Apr. 1430 IST
* EUROZONE FOREIGN TRADE in Feb. 1430 IST
* US ICSC-GOLDMAN SACHS CHAIN STORE SALES INDEX in week to Apr 12. 1715 IST
* US CONSUMER PRICE INDEX for Mar. 1800 IST
* US REAL EARNINGS in Mar. 1800 IST
* US EMPIRE STATE MANUFACTURING SURVEY for Apr. 1800 IST
* US JOHNSON REDBOOK RETAIL SALES INDEX for week to Apr 12. 1825 IST
* US HOUSING MARKET INDEX for Apr. 1930 IST

FROM INDIA
* WPI INFLATION for Mar, by commerce and industry ministry.
* CPI COMBINED, RURAL, URBAN INFLATION for March, by CSO.

CONFERENCES
* WOMAN ENTREPRENEURSHIP: Bharatiya Mahila Bank CMD Ananthasubramanian to be present at a meet on woman entrepreneurship. 1200 IST, New Delhi.
* HOME EXPO: Textiles Secretary Chatterji to be chief guest at an inauguration of Home Expo India 2014. 1300 IST, New Delhi.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo(at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

MARKETS
Call  : Seen opening slightly above 8% as banks may borrow to cover daily  reserve needs early in day. 1-day call: 8.10-8.30% vs 8.00% 3-day Sat.
Bonds : Seen up on firm appetite for gilts. CPI inflation data eyed. 10-year bond yield: 8.90-8.98% vs 8.94% Fri.
Rupee : To take global cues. Likely bunched-up flows may aid. Inflation data, shr market movement eyed.
Range: 59.80-60.50/$1 Tue vs 60.17/$1 Fri.
Stocks: Seen opening higher on global cues; Infosys Jan-Mar earnings eyed Nifty range 6750-6850; Friday-end 6776.30, down 20.10 points.

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What's Happening, and Where, on Apr 10

INDIA VOTES

* Third phase of Lok Sabha elections to cover 91 seats across 10 states and four union territories. Voting for 70 Assembly seats in Odisha and by-election in Maharashtra will also be held.

RBI WATCH

 * RBI Deputy Governor Urjit Patel to attend G20 finance and central bank deputies' meeting. 2100 IST, Washington DC.

* RBI Governor Rajan to attend panel discussion on normalisation in US monetary

  policy and its implications for emerging markets at International Monetary Fund high-level conference on emerging markets. 2200 IST, Washington DC.

* RBI Governor Rajan to speak on 'Global Monetary Policy: A View from Emerging

  Markets' followed by questions and answers (Brookings Institution).

* RBI Governor Rajan to attend G20 finance ministers and central bank governors' meeting in Washington DC.

DATA ALERT

US IMPORT & EXPORT PRICE INDEXES for Mar. 1800 IST

US WEEKLY EXPORT SALES. 1800 IST

US UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT. 1800 IST

US BLOOMBERG CONSUMER COMFORT INDEX. 1915 IST

DJ-BTMU US BUSINESS BAROMETER. 1930 IST

US EIA WEEKLY NATURAL GAS STORAGE REPORT. 2000 IST

US ICSC CHAIN STORE SALES TRENDS for Mar. 2130 IST

CONFERENCES

* INVESTMENT OUTLOOK: Indian Merchants' Chamber seminar on Investment Outlook 2014. 0900-1800 IST, Mumbai.

RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo

(at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

MARKETS

Call: Seen opening around 8.50% on likely demand from banks early in session to meet mandatory reserve requirements. 1-day call: 8.50% vs 8.15% Wed.

Bonds : Seen lower Thu. Dealers may stay on sidelines ahead of underwriting auction results. 10-year bond yield: 9.03-9.15% vs 9.03% Wed.

Rupee: To take global cues at open. US FOMC meet minutes. Likely importers' dlr buys to weigh. Range: 59.80-60.30/$1 Wed vs 60.13/$1 Wed.

Stocks: Indices may rise further and scale record highs Nifty range 6750-6840; Wednesday-end 6796.20, up 101.15 points.

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Morning brief for the stock market:

Board Meetings of:
* NCC to consider rights issue
* Garware Wall Ropes to consider closure of ongoing buy-back offer of equity shares of the company.
* RSWM to approve scheme of amalgamation of Cheslind Textiles

INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Apr 7: FII x.xx, DII x.xx
* Institutional net buy/(sale) in bln rupees, Apr 4 date: FIIs 2.50, MF xx
* FII NSE futures net buy/(sale) in bln rupee, Apr 7: index 0.98, shr 4.44
* Sensex 22343.45, down 16.05 points; Nifty 6695.05, up 0.70 points
* Crude: $102.56/bbl; Rupee: 60.11/$1; Gold: $1,309.1/ounce; 10-yr yld: 9.1006%

GLOBAL STOCK MARKETS
* US indices rose on Tuesday helped by rebound in information technology and social media companies' shares.
* Most key Asian indices rose, tracking positive cues from US markets, but Japan's Nikkei bucked trend, falling over 1% as yen rose against dollar.
* COMMODITIES India might see the commercialisation of genetically modified jute in a month

EXCHANGES:
* The National Stock Exchange has decided to shift 47 stocks, which include EDUCOMP SOLUTIONS, ERA INFRA ENGINEERING, KIRLOSKAR ELECTRIC CO, to the trade-for-trade segment from the rolling segment from Apr 15.
* The BSE will revise circuit filters on 19 stocks, including EMKAY GLOBAL FINANCIAL SERVICES and EDUCOMP SOLUTIONS, from Wednesday.
* The National Spot Exchange Ltd has settled 3.30 bln rupees, or 6% of the amount due to investors since it suspended operations, missing its own deadline to clear payments.

INFRASTRUCTURE:
* A consortium led by the GMR group, which won the bid for the Mactan Cebu international airport project in the Philippines, faces a petition in that country's Supreme Court to scrap the deal.
* PHARMACEUTICALS: The Securities and Exchange Board of India is likely to begin a preliminary inquiry into the merger deal between SUN PHARMACEUTICAL and RANBAXY LABORATORIES to check whether insider-trading norms were violated.
* REGULATORY: Margin requirements on dollar/rupee derivatives contracts will be restored to their pre-July levels from Apr 15, the Securities and Exchange Board of India said.
* RETAIL: Walmart to open 50 wholesale stores in India over 4-5 years.

STOCKS
* ABB INDIA: Parent ABB has bagged a $18-mln worth order from POWER GRID CORP to construct a 400 kV gas-insulated switchgear substation at Kolhapur in Maharashtra.
* ADANI ENTERPRISES: Promoter pledged 5 mln shares of company on Mar 31.
* COAL INDIA: Canada Commissioner Stewart Beck has met senior officials of the company and has invited the company to explore mining opportunities in the country.
* DHANLAXMI BANK: Has received shareholders' approval to raise 2.33 bln rupees through preferential allotment of shares.
* DLF: Confirmed media reports that the Competition Commission of India had imposed a penalty of 24 mln rupees on it in a case filed by an association of apartment owners and said it is exploring legal options.
* GULF OIL CORP: Promoter has raised stake in the company by 4.99% to 54.96%.
* GVK POWER & INFRASTRUCTURE: The Land Court of Queensland in Australia has granted conditional clearance to $10-bln Alpha Coal Mine project being developed by GVK Hancock, a joint venture of the company and Hancock Prospection.
* IFB AGRO INDUSTRIES: Board has approved purchase of all businesses of Nurpur Gases.
* ING VYSYA BANK: Has said that an adjustment of around 600 mln rupees before tax will be reflected in its financial results for the quarter ended Mar 31 and for 2013-14 (Apr-Mar).
* JAIHIND PROJECTS: Has bagged an order worth 1.15 bln rupees from INDIAN OIL CORP.
* JSW STEEL: Has acquired 26% stake in Vallabh Tinplate.
* KALYANI FORGE: Company plans to deploy a capital expenditure of 2 bln rupees over the next 3-5 years for modernisation and value addition at its manufacturing facilities in Pune, and also scale up share of exports.
* KINGFISHER AIRLINES: Three of its directors, Ravi Nedungadi, S.R. Gupte, and M.S. Kapur have resigned at the start of this month.
* MARUTI SUZUKI INDIA: Company has asked dealers to hold deliveries of certain batches of the Swift DZire, as it decides whether to recall the cars and fix a faulty fuel tank component.
* NESTLE INDIA: Company may introduce new products such as pet food and bottled water in India as it tries to revive growth in the domestic market.
* PIRAMAL ENTERPRISES: Has inked a pact with Merisant India to distribute thelatter's artificial table-top sweetener brand Equal in India.
* RAMCO SYSTEMS: In strategic partnership with Schneider Electric to offer solutions to cement companies.
* RANBAXY LABORATORIES: Head of Active Pharmaceutical Ingredients T.L. Easwar has quit the company.
* SCHNEIDER ELECTRIC INFRASTRUCTURE: Board approved closing of Naini Transformer unit and selling of the same.
* SPICEJET: Company has started giving limited-period discounted tickets to flyers from Andhra Pradesh, Tamil Nadu and West Bengal.
* SUZLON ENERGY: Arm Senvion has inked pact with a consortium of banks to raise 850 mln euros for a period of three years.
* TATA STEEL: To sell arm Tata Steel International Australasia to New-Zealand based Steel & Tube Holdings for 27.5 mln New Zealand dollar.
* The Supreme Court has allowed the company to continue mining activities at its chromite mine in Sukinda, Odisha, till May 9.
* TTK HEALTHCARE: Company has informed the Intellectual Property Appellate Board they were moving to bring a settlement to the long pending dispute over the trademark Ossopan, a calcium supplement.
* YBRANT DIGITAL: To buy minority stake in Israeli-listed Jobookit Holdings for an undisclosedsum.

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What's Happening, and Where, on Apr 4

CORPORATE EVENTS
*AGM of FIRST LEASING CO OF INDIA.
*PRESS MEET of IDFC, on getting in-principle approval to start a bank. Executive Chairman Lall, MD & CEO Limaye, and Group CFO Kakar to speak. 1000 IST, Mumbai.

POLITICAL DIARY
BJP's Narendra Modi to address rallies in Maharashtra and Odisha. 1030 IST,Nagpur; 1235 IST, Naupada; 1410 IST, Balangir; 1600 IST, Rourkela.

DATA ALERT
from OVERSEAS
GERMANY MANUFACTURING ORDERS for Feb. 1130 IST.
UK HALIFAX HOUSE PRICE INDEX for Mar. 1230 IST.
UK CAR REGISTRATIONS FIGURES for Mar. 1330 IST.
EUROZONE RETAIL PMI for Mar. 1340 IST.
US EMPLOYMENT REPORT for Mar. 1800 IST.

CONFERENCES
EXPORT MEET: Commerce Secretary Kher to speak on 'India's Export Competitiveness, Prospects and Challenges: The Role of Trade Policy' at FICCI-CUTS event. 1800 IST, New Delhi.

RBI COUNTER
DAILY LAF TENDERS: One set of 3-day reverse repo (at 7.00%) and two sets of 3-day repo (at 8.00%). Bids for the first repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo and second repo between 1900 IST and 1930 IST.

TERM REPO TENDER: One set of 13-day variable rate term repo for 600 bln rupees and one set of 3-day variable rate term repo for 200 bln rupees. Bids for term repo tender may be submitted between 1100 and 1130 IST.

GILT AUCTIONS: RBI to auction 40 bln rupees of 8.35%, 2022 bond, 70 bln rupees of 8.28%, 2027 bond, 20 bln rupees of 9.20%, 2030 bond, and 30 bln rupees of 9.23%, 2043 bond. Cut-off yield seen:
9.25-9.30% for 8.35%, 2022 bond.
9.34-9.38% for 8.28%, 2027 bond.
9.25-9.28% for 9.20%, 2030 bond.
9.35-9.40% for 9.23%, 2043 bond.

MARKETS
Call: Seen opening around 8.7% on strong demand to meet weekend funding needs early in the session. 3-day call: 8.70% vs 7.00-7.05% 1-day Thursday.
Bonds: Seen opening steady. Value buying may support prices. Seen in thin band until auction result. 10-yr yld: 8.95-9.03% vs 9.01% Thursday.
Rupee: Seen down on weak euro, likely dollar buys by oil cos. US non-farm payrolls data, shares eyed.
Range: 60.00-60.60/$1 vs 60.16/$1 Thursday.
Stocks: To open marginally down; trade seen rangebound. Nifty range 6700-6800; Thursday-end 6736.10, down 16.45 points.

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MARKETS TO OPEN POSITIVE ON STRONG GLOBAL CUES. EYE ON IDFC.

    Indian markets are seen opening on front foot on constructive global setup. Wall Street climbed to record peaks on encouraging signals from the US labour market ahead of Friday’s non-farm payrolls report FIIs continue to pump in money in India on improved macros and formation of stable new government. Yesterday FIIs bought in all segments reflecting their positive mindset on Indian equities. IDFC Ltd shares will be in limelight after RBI granted in-principle approvals to IDFC and Bandhan Financial Services Pvt. Ltd to start new banks. On Wednesday, Sensex gained 105 points to close new all time high at 22551 and Nifty ended above 6750 mark. PSU Banks witnessed fresh buying in last hour of sessions. Continued FIIs buying interest, rally in the global market and drop in USDINR to 8-month low below 60. Realty, Pharma, Oil & Gas and Auto stocks witnessed smart rally. However Metal and FMCG stocks witnessed profit booking. PSU Banks gained on expectation that RBI could cut interest rate if inflation cools down. Bank of Baroda surged 6% to close at Rs780. PNB, Union Bank, Canara Bank, Syndicate Bank, Oriental Bank and Bank of India gained between 3-9%.

MARKET MOVERS
Kolte-Patil: Shares in Kolte-Patil Developers surged 5.53% to Rs 104 after the company said has acquired a 30-acre land parcel at Kondhwa in Pune along with ASK Real Estate Special Opportunities Fund for Rs 160 crore.The company will develop a residential housing project, Kolte-Patil Developers said in a filing to the BSE.Meanwhile, the stock of realty developer has outperformed the market by appreciating 48% from Rs 71.25 on February 17, after the company entered into agreements for two redevelopment projects in Mumbai's western suburbs.Both Mumbai suburban redevelopment projects have total area of around 600,000 sq ft, the company said in a release. The benchmark S&P BSE Sensex has gained about 10% during the same period.

LIC Housing Finance: Shares of companies that have applied for a banking licence were in focus & closed higher by up to 4% after the Election Commission allowed the Reserve Bank of India (RBI) to issue new bank licences.IDFC, L&T Finance Holdings, LIC Housing Finance, Reliance Capital and IFCI werw all up on the Bombay Stock Exchange (BSE).In a letter to the RBI governor, the EC said the central bank might take "necessary action as deemed appropriate as permissible under provisions of the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, and/or any other relevant law(s).

Aurobindo Pharma: Shares in Aurobindo Pharma closed higher by 4.51% to Rs 558.80, also its new high on the BSE, after the company said it has completed the acquisition of certain commercial operations of Actavis plc in Western Europe.The agreement to acquire the operations of Ireland-based Actavis, a global, integrated speciality pharmaceutical company, was announced in January 2014.“The company has acquired personnel, commercial infrastructure, products, marketing authorisations and dossier licence rights in seven uropean countries. Actavis and Aurobindo have also entered into a long-term commercial and supply arrangement.

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