Stocks To Watch: Siemens, Delta Corp, Coal India, Wipro, Wockhardt
Friday, May 13 - Morning brief for the stock market:
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BIG PICTURE
* China hikes banks' reserve requirements by 50 basis points (BS)
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TOP EVENTS TODAY
* Nifty companies detailing Jan-Mar earnings:
  + Dr Reddy's Laboratories (net seen 2.6 bln rupees, up 4% on year)
* Jan-Mar earnings to be detailed, among others, by: Advani Hotels & Resorts  (India), Allcargo Global Logistics, Aftek, Atul, Areva T&D India, AstraZeneca
  Pharma India, Austral Coke & Projects, Bal Pharma, Balrampur Chini Mills, Bang Overseas, Bell Ceramics, Birla Power Solutions, Bharati Shipyard, Career Point Infosystems, Crest Animation Studios, Cronimet Alloys India, Deccan Chronicle Holdings, Den Networks, Dewan Housing Finance Corp, Diamond Power Infra, Eastern Silk Industries, Emami Infrastructure, Geodesic, Goldstone Infratech, GSS America Infotech, Indo Tech Transformers, ITI, Madhav Marbles and
  Granites, Manugraph India, Mudra Lifestyle, MMTC, Morepen Laboratories, Nelcast, Parabolic Drugs, Kirloskar Oil Engines, Kiri Industries, Jindal Photo, Lyka Labs, Oriental Hotels, Orient Press, Panacea Biotec, Pantaloon Retail (India), Puravankara Projects, Rain Commodities, Rana Sugars, Sanghi Industries, Saregama India, Shanthi Gears, Shiv-Vani Oil & Gas Exploration Services, Simbhaoli Sugars, SIL Investments, Sutlej Textiles and Industries, Supreme Infrastructure India, Surana Corp, Tata Coffee, Texmo Pipes and Products, Uniply Industries, Value Industries, Videocon Industries, VIP Industries, Euro Multivision, Weizmann, Zodiac Clothing Co.
* ANNUAL GENERAL MEET of: Allcargo Global Logistics, Prism Informatics.
* BOARD MEETINGS of:
  + Cronimet Alloys India to mull stock split.
  + Surana Corp to mull issue of shares on rights basis.
* LISTING of
  + Innoventive Industries. Issue price 117 rupees a share. (NW18)
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INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, May 12: FII (4.20), DII 3.12
* Institutional net buy/(sale) in bln rupees, May 11: FIIs 2.44, MF 1.43
* FII NSE futures net buy/(sale) in bln rupee, May 12: index (14.07), shr (0.32)
* Sensex 18335.79, down 249.17 points; Nifty 5486.15, down 78.90 points
* Crude: $98.97/bbl; Rupee: 44.98/$1; Gold: $1,506.80/ounce; 10-yr yld: 8.2122%
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OUTLOOK
* Domestic share indices are likely to open flat amid tepid overseas cues. The results of state assembly polls will lend cues later in the session.
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GLOBAL STOCK MARKETS
* US: Indices ended up Thursday led by commodity stocks that recovered amid a  weaker dollar. A 0.5% rise in April retail sales also supported the upside.
* ASIA: Equities were mixed with action stock specific due to corporate earnings. Power stocks dragged down shares in Japan, while a hike in banks'
  reserve requirement ratio by China weighed on equities in Hong Kong.
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IPO WATCH
* Galaxy Surfactants raised 302.4 mln rupees from three anchor investors for its 5.93-mln-share initial public offering.
* Vaswani Industries has priced its 10-mln-share issue at 49 rupees each.
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SECTOR NEWS
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* AUTOMOBILES: Electric two-wheeler manufacturer Lohia Auto Industries to begin sale of three-wheeler passenger and cargo vehicles in next six months.
    Honda plans to develop diesel engine for its Honda City car. (BS)
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* AVIATION: Aviation turbine fuel prices to fall by 2% or around 1,200 rupees a kL, in line with import parity prices. (BS)
    Air India has reinstated 15 pilots who were suspended or sacked for participating in an illegal strike. (IE)
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* BANKING: The Reserve Bank of India allows 926 bank branches of both public and private banks to accept advance income taxes in Mumbai and Navi Mumbai
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* DEFENCE: The government is set to revive discussions on increasing the foreign direct investment limit in defence production to 49% from 26%. (ToI)
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* ECONOMY: Chief Economic Adviser Basu says April wholesale price index inflation likely 8.5-8.6% on the back of easing food prices.
    Pranab says non-food inflation a worry, food price to moderate soon.
    CLSA cuts its forecast on India's real gross domestic product growth in FY12 to 7.5% from 8.0-8.3% earlier.
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* ENERGY: State-owned oil marketing companies will get additional cash subsidy of 200 bln rupees for FY11 to partly compensate for the loss due to subsidised
sale of fuel
    Supreme Court has allowed Petroleum and Natural Gas Regulatory Board to issue licences for city gas distribution of compressed natural gas.
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* EXCHANGE: The Competition Commission Of India has slapped a penalty notice on the National Stock Exchange on a complaint related to abuse of dominant
market position. (ToI)
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* GOVERNMENT: Plans to bring an amendment to the Land Acquisition Act in the forthcoming monsoon session of Parliament.
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* MICROFINANCE: Supreme Court has issued a notice to the Andhra Pradesh government on a petition by SKS MICROFINANCE challenging various sections of the state's microfinance law.
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* POWER: DB Power is looking to set up plants in Maharashtra and Rajasthan, has raised funds from Warburg Pincus. (DNA)
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* REAL ESTATE: Government to bring land acquisition amendment bill in monsoon session.
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* TELECOM: The Department of Telecommunications has told the Telecom Regulatory Authority of India that it cannot cancel licenses of telecom companies for
failure to roll out networks. (HT)
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* TRADE: India April exports up 34.4% on year at $23.9 bln; imports rise 14.1%.
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STOCKS
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* ARIES AGRO: Jan-Mar net profit 20.55 mln rupees, down 12.29% on year.
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* ASHOKA BUILDCON: Plans toll collection of 3.5 bln rupees in the current financial year, with 60% coming from national highways. (DNA)
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* BAJAJ AUTO: Has raised its stake in Australian motorcycle maker KTM Power Sports AG by 1.2% to 39.3%. (BS)
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* BHARTI AIRTEL: Sri Lankan arm ties up with Bank of Ceylon and BOC PayMate to provide bill payment facilities to Airtel's Sri Lankan subscribers.
    Its contribution to the profit of its largest shareholder SingTel fell sharply to 17.5% during Jan-Mar. (ET)
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* COAL INDIA: Reported 24% rise in net profit for the financial year ended March at 46.96 bln rupees.
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* DE NORA INDIA: Got letter of intent for a 160-mln-rupee order.
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* DELTA CORP: Acquired 51% stake in Daman Hospitality for 500 mln rupees.
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* ERA INFRA ENGINEERING: Increased FIIs' total purchasing limit for its shares to 65% of total paid-up equity capital.
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* FORTIS HEALTHACARE: Completes buying 75% stake in Super Religare Laboratories.
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* GAMMON INDIA: Jan-Mar net profit 604.6 mln rupees, as against 357.3 mln rupees year ago. Net sales 17.38 bln rupees, up from 16.66 bln rupees.
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* GEI INDUSTRIAL SYSTEM: Is targeting turnover of 5.5 bln rupees in FY12.
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* GREAT OFFSHORE: Jan-Mar net profit 477.3 mln rupees, down 33% on year as net sales declined 24% to 2.07 bln rupees.
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* GVK POWER & INFRASTRUCTURE: Has put expansion of two gas-based power projects estimated at 60 bln rupees on hold due to uncertainties over gas supply by RELIANCE INDUSTRIES. (ET)
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* HERO HONDA: Will spend 1.75 bln rupees on an image makeover following the break-up with Honda Motor. (Mint)
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* HINDUJA GLOBAL SOLUTIONS: Jan-Mar net profit 210.25 mln rupees, up 13.36% on year.
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* IVRCL ASSETS & HOLDINGS: Gets $90 mln order to construct 4,100 houses in Sri Lanka.
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* JINDAL SAW: Jan-Mar net profit 801.9 mln rupees, down 55% on year. (NW18)
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* JUBILANT FOODWORKS: To launch 80 outlets in 2011-12 (Apr-Mar); Sri Lanka operations to start in June.
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* KARUR VYSYA BANK: GMR Group in talks with private equity firms to sell 5% stake in the bank at 450-500 rupees a share. (ET)
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* KEW INDUSTRIES: Plans to raise funds by issuing 210 mln warrants and 3 mln shares on preferential basis.
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* LUPIN: Plans capital expenditure of $100 mln in FY12 to expand existing units and set up new ones.
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* MAHANAGAR TELEPHONE NIGAM: Reported a 4.8% year-on-year decline in revenue in Jan-Mar at 8.08 bln rupees. Net loss narrowed to 10.99 bln rupees.
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* MAHINDRA AND MAHINDRA: Will launch more commercial passenger vehicles equipped with 'alternative fuels' in the coming months. (PTI)
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* MONNET ISPAT: Jan-Mar net profit up 5.7% on year at 765.7 mln rupees.
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* OIL AND NATURAL GAS CORP: The oil ministry has cleared recommendation to appoint S. Vasudeva as the company's next chairman and managing director. (IE)
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* ORIENTAL BANK OF COMMERCE: Ties up with Experian Credit Information Co for credit information services from the latter. (BL)
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* PATNI COMPUTER SYSTEMS: US-based iGate Corp wrests control of company; Phaneesh Murthy appointed managing director and chief executive officer.
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* PENINSULA LAND: Jan-Mar net profit 699.2 mln rupees as against 962.7 mln rupees year ago, revenue 899.3 mln rupees.
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* POWER FINANCE CORP: FPO was subscribed 3.58 times on Day 3, backed by qualified institutional buyers.
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* PRIYADARSHINI SPINNING MILLS: Promoters to get 60-mln-rupee securities on preferential basis.
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* PTL ENTERPRISES: Has dropped plan to merge Artemis Medicare and Artemis Health with self.
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* RANBAXY LABORATORIES: Expects to start supplying anti-ulcer drug Nexium's low-cost version to AstraZeneca towards end-2011. (ET)
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* RELIANCE INDUSTRIES: May soon announce plans to set up a multi-billion dollar liquefied natural gas import terminal to meet rising demand for gas. (HT)
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* SIEMENS: Posted 53.6% on year rise in its Jan-Mar net profit at 2.78 bln rupees, beating street expectations, led by robust order execution.
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* STATE BANK OF INDIA: Plans to raise $3 bln-$4 bln in offshore debt in the current financial year. Of this, $1.0 bln-$1.5 bln will be raised by July. (var)
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* SURYALAKSHMI COTTON MILLS: To spend 2.85 bln rupees on expanding its spinning capacity and set up a 25 MW thermal power plant in Nagpur. (BL)
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* TALWALKARS BETTER VALUE FITNESS: To raise up to 1 bln rupees via qualified institutional placement.
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* TATA CONSULTANCY SERVICES: In race with IBM for a 7.5-bln-rupee contract from the Airports Authority of India to upgrade technology systems at 10 airports.(Mint)
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* TATA POWER: Set to raise 15 bln rupees through perpetual bonds. (BS)
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* TITAGARH WAGONS: Jan-Mar net profit 272.9 mln rupees, net sales 2.2 bln rupees.
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* TULIP TELECOM: Expects to maintain revenue growth around 20% in FY12. Revenue for 2010-11 (Apr-Mar) stood at 23.5 bln rupees.
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* UNITED BREWERIES: Shareholders to mull merger scheme May 23.

* WIPRO: Is keen to sell two of its non-core business brands such as the Sunflower Vanaspati and Wipro Baby Soft diapers. (BS)
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* WOCKHARDT: Is looking to license its leading nutrition brand Protinex for around 4 bln rupees; in talks with Abbott, GlaxoSmithKline Consumer Healthcare,
and Heinz. (ET)