Stocks To Watch:Dr.Reddy's, Indraprastha Gas, Jubilant Life, Vimta
  Monday, Jun 6 - Morning brief for the stock market:
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BIG PICTURE
* US economy adds just 54,000 jobs as unemployment rises to 9.1% in May. (var)
* IMF says next tranche of Greece's existing bailout likely in July. (var)
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TOP EVENTS TODAY
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* Annual General Meet of: State Bank Of Bikaner and Jaipur, Zenu Infotec.
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* Board Meetings of:
  + Colgate Palmolive (India) Ltd, to consider interim dividend.
  + Geojit BNP Paribas Financial Services Ltd, to consider dividend.
  + Indian Infotech & Software Ltd, to consider Jayanti Prime Software's
    open offer proposal.
  + SPL Industries Ltd, earnings for year ended March.
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INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Jun 3: FII 4.45, DII (3.55)
* Institutional net buy/(sale) in bln rupees, Jun 2: FIIs 1.51, MFs (1.43)
* FII NSE futures net buy/(sale) in bln rupee, Jun 3: index 0.33, shr (4.91)
* Sensex 18,376.48, down 117.70 points; Nifty 5,516.75, down 33.60 points
* Crude: $100.22/bbl; Rupee: 44.81/$1; Gold: $1,545.20/ounce; 10-yr yld: 8.2660%
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OUTLOOK
* Share indices are likely to open weak today, tracking regional markets which were trading weak as disappointing jobs data released in the US on Friday fuelled worries over a slowdown in economic growth..
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WEEKLY SECTOR OUTLOOK
* AUTOMOBILE: Decision on diesel hike, export sops eyed.
* BANKS: In tight band; private banks to stay top picks.
* CAPITAL GOODS: To track broad market; sentiment subdued.
* CEMENT: Under pressure on low sales in May.
* FMCG: Seen firm on defensive buying, monsoon hopes.
* INFORMATION TECHNOLOGY: Seen range-bound with positive bias.
* OIL & GAS: Reliance Industries, oil retailers seen down.
* PHARMACEUTICAL: In range; stock-specific action likely.
* STEEL: Seen rangebound but with negative bias.
* TELECOM: Rangebound; Reliance Communications seen volatile.
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GLOBAL STOCK MARKETS
* US: US indices end around 1% lower on Friday as data showed a mere 54,000 jobs were added in May, the lowest reading since September and way below
analysts' estimates. The US unemployment rate also rose to 9.1% from 9% in April.
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* ASIA: Asian equities declined tracking Wall Street as weak jobs data in the US spooked sentiment. Equity markets in Hong Kong, South Korea, China, and
Taiwan are shut for holiday.
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SECTOR NEWS
* AGRICULTURE: Government notifies export of 10,000 tn each of organic sugar, pulses, edible oil.
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* AUTOMOBILE: General Motors India to unveil Chevy Beat's electric version this month. (BL)
* COAL: State-run International Coal Ventures considering acquisition of a 59% stake in Minas de Revuboe, which owns the Revuboe coal mining project in
Mozambique, for around $1 bln. (Mint)
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* EDUCATION: Tata Group planning to enter the sector with an initial investment of 1 bln rupees. (BS)
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* FINANCIAL: Promoters of five microfinance institutions--Asmitha Microfin, Future Financial Services, Share Microfin, Spandana Sphoorty Financial, and
Trident Microfin--agree to pledge 100% shareholding with banks for debt recast. (var)
    Avendus Capital buys 84% of Grama Vidiyal Micro Finance's 108-mln-rupee
loan portfolio in securitisation deal. (ET)
    L&T Infrastructure Finance and SREI Infrastructure Finance to benefit from. Ministry of Corporate Affairs' new guidelines public financial institution status. (Mint)
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* FMCG: Carlsberg to buy partner Lion Brewery's share in India operations, raise stake to 90%. (ET, Sat)
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* GLASS: Saint-Gobain has approached Tamil Nadu and Andhra Pradesh governments seeking 60 acres of land for setting up a factory to produce
glass for solar power plants. (BL, Sat)
    To invest 15 bln rupees in India across its manufacturing facilities over a period of two years. (FE, Sat)
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* HEALTHCARE: Vasan Healthcare in talks with private equity investors for raising  $150 mln. (FC)
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* IT: Genpact to have nearly 60% of its senior leadership based outside India in the next 12-18 months, a move aimed at being closer to global clients.
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* LOGISTICS: Freight premiums on imported coal likely to increase 20% from next year. (Mint, Sat)
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* SHIPPING: Companies like Greatship India, Great offshore, Essar Shipping and Global Offshore are acquiring vessels to tap the oil exploration and
drilling services market in countries like Brazil. (ET)
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* MEDIA: Government agrees to hike foreign direct investment in broadcast carriage services to 74% from 49%, while retaining that for local cable
operators at 49%. (Mint)
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* METALS & MINING: Karnataka government may set terms on exporters with regards to quantum and mode of transport of iron ore. (BL, Sat)
    Gujarat Mineral Development Corp is looking at private partnerships to add value to its mineral products. (BS)
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* MONSOON: India Jun 1-3 average rainfall 14.4 mm, 67% above normal.
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* OIL & GAS: Empowered Group of Ministers' meet on gas allocation called off. (BS, Sat)
    Centre sets Jul 15 deadline to resolve payment crisis for Iranian crude oil. (BL, Sat)
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* PHARMACEUTICAL: Government drafts uniform rules of conduct for the industry. (ET, Sat)
   Drug Controller of India summons Wyeth, Quintiles, Lilly, Amgen, Bayer, Bristol Mayer, Sanofi, Pfizer and PPD for clinical trials-related deaths.
(ToI)
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* POWER: Southern region to be completely integrated with national power grid in three years. (BL, Sat)
    Lanco Infratech and GMR Group have sought clarity from the government on natural gas supplies from Reliance Industries Ltd's D-6 block in
Krishna-Godavari basin. (PTI)
    Governemnt expects to achieve additional power generation capacity of 16,000 MW in the remaining 10 months of the 11th five-year plan. (ET)
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* REAL ESTATE: Indiareit Fund Advisors and Ambience to jointly develop 17.63 acres of land in Gurgaon. (ET, Sat)
   Indiareit Fund Advisors plans funds to tap rental yield, debt market. (BL, Sat)
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* REGULATORY: Securities and Exchange Board of India says infrequently traded Indian Depository Receipts must be redeemed.
    SEBI eases prior-approval norm for bourse members, sub-brokers.     The Central Board of Direct Taxes to make disclosure of Permanent Account
Number mandatory in high value transactions. (ET, Sat)
    Reserve Bank of India cancels registrations of S K Capsec Pvt Ltd and Sansun Leasing and Finance Pvt Ltd for carrying on the business of a
non-banking financial institution after their exit from the business. (var, Sat)
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* RETAIL: Wal-Mart may tie up with 'kirana stores' for bigger India play; to
open new outlets in Maharashtra, Andhra Pradesh, and Chhattisgarh. (ToI, Sat)
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* RUBBER: Prices of the commodity set to recover as production enters lean phase. (ET, Sat)
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* TELECOM: Nokia forays into dual-SIM mobile market. (BL, Sat)
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STOCKS
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* ABG SHIPYARD: Plans to cut debt by 17% in 2011-12; aims to turn debt-free by 2014. (DNA, Sat)
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* ASHOK LEYLAND: May total sales 5,725 units, down 12% on year.
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* BALAJI TELEFILMS: Plans to launch film-focused private equity firm. (Mint)
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* BHARAT HEAVY ELECTRICALS: Prepares strategic plan to take on competition; railway transportation and defence to expand in a big way while power
business will continue to be the most important constituent of company's portfolio. (Mint, Sat)
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* BHARAT PETROLEUM CORP: Plans to add 1,70000 barrels per day refining capacity at its Kochi and Bina plants. (DNA)
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* CAIRN INDIA: To soon take up minority shareholders' concerns regarding deal with Vedanta with parent company Cairn Energy. (BL, Sat)
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* CORPORATION BANK: To open 200 branches, hire 1,200 personnel this fiscal. (var, Sat)
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* DABUR INDIA: Keen to enter consumer healthcare segment. (ET, Sat)
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* DR REDDY'S: Directorate of Factories, Andhra Pradesh, files second case against company's US FDA-certified manufacturing facility at Bollaram for
alleged safety-related lapses. (PTI)
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* HERO HONDA: The Munjals, promoters of the company, decide to drop the 'Honda' tag. (ToI, Sat)
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* HOUSING DEVELOPMENT & INFRASTRUCTURE: Sees transfer of development rights sales 20% lower for 2011-12 (Apr-Mar). (BS, Sat)
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* INDRAPRASTHA GAS: Hikes compressed natural gas prices by up to 55 paise per kg.
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* INFRASTRUCTURE DEVELOPMENT FINANCE CO: and Khazanah plan infrastructure development joint venture in India.
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* JINDAL STEEL & POWER: Managing Director Navin Jindal is on a visit to Bolivia to give a push to the company's plans of investing $2.1 bln in next
few years in mining and in a 1.7 mln tn per year steel plant in the South American country. (FE)
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* JUBILANT LIFE SCIENCES: Gets US Food and Drug Administration's approval for Alzheimer's drug Aricept generic.
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* JYOTHY LABORATORIES: Looking at possibility of introducing new categories such as hair care, body care, and adhesives post Henkel India buy. (BL, Sat)
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* KARNATAKA BANK: To recover 2.5-bln-rupee bad loans in 2011-12. (BL, Sat)
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* KITPLY: Approves closure of Igatpuri laminate unit on operational loss.
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* LIC HOUSING FINANCE: To raise 1 bln rupees via 3-year bonds at 10.20%.
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* MAHANAGAR TELEPHONE NIGAM: To spend 11.45 bln rupees on 3G network expansion. (FE)
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* MAHINDRA & MAHINDRA: Has asked its suppliers to focus on reducing cost and deliver on time. (PTI)
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* MANGALORE REFINERY & PETROCHEMICALS: Ongoing 150-bln-rupee expansion may get delayed if road blockade by agitating displaced people of Mangalore special economic zone continued at Jokatte.  (FE, Sat)
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* MARUTI SUZUKI: The standoff between workers and management at the company continues as workers demand recognition of a new union and retention of
contract labourers. (DNA)
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* MAXWELL INDUSTRIES: To sell Erode spinning unit to MC Spinners for 390 mln rupees.
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* NIIT: To acquire balance promoters' stake in Evolv Services. (
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* NMDC: Inks memorandum of understanding with Australia's Minemakers to jointly develop the Wonorah phosphate deposits in Northern Territory.
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* NTPC: To get showcause notice for dyke collapse at Orissa plant. (BS, Sat)
* PERSISTENT SYSTEMS: US telecom major Sprint Nextel Corp to enter India by buying 74% stake in a joint venture firm, Sprint Telecom India, floated by
the company. (FE, Sat)
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* PTC INDIA FINANCIAL: Sanctions 5-bln-rupee debt to three power companies.
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* RURAL ELECTRIFICATION CORP: Plans to raise up to $1.75 bln by November through Foreign Currency Convertible Bonds and External Commercial
Borrowings. (ET)
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* SATYAM COMPUTER SERVICES: Has sought more time to build an IT/Ites special economic zone in Hyderabad. (PTI)
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* SHREE GANESH JEWELLERY: Plans to foray into the NBFC space. (BL, Sat)
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* SHOPPERS STOP: Promoters Raheja Group are looking at exiting the Crossword Bookstores business. (BS)
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* SOFTBPO GLOBAL SERVICES: Approves 25-for-1 rights issue at 55 rupees per share.
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* STEEL AUTHORITY OF INDIA: To invest 36 bln rupees for setting up four pellet units in the next two-three years. (BL, Sat)
    May rope in four private companies to bid for Hajigak mines in Afghanistan. (BL)
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* WENDT INDIA: 3M arm makes open offer to acquire 20% more in the company at 1,366.34 rupees a share.
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* TATA MOTORS: To meet additional credit requirement in a high interest rate and lower sales market Tata Motors has infused an additional 7.5 bln rupees
in fully-owned arm Tata Motors Finance. (FE)
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* TATA POWER: Solar plant in Pune goes on stream; to contribute 4.5 mln units a year to the grid. (BL, Sat)
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* UNITY INFRAPROJECTS: Eyes 25% growth in revenue in 2011-12. (FE, Sat)
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* VIMTA LABS: European firm seen interested in taking over the company; suitor said to have bought 10-11% through leading investment company. (DNA, Sat)
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