6th August Morning Updates:

6th August Morning Updates:
Stocks that are in news today
Results today: Power Grid, Edserv Soft, Fortis Health, ICSA India, Prakash Inds, RCF, Gammon Infra, Reliance Media Works

RCF results postponed to 10th
Vodafone open to selling 4% stake in Bharti

Bharti entity seems a logical buyer of 4% stake
Unlikely any non-Bharti entity would buy 4% stake
Both parties in Vodafone-Essar have ability for IPO
Bankers say: sources
Allow loans to airline companies to be treated as standard loans
Allow loans to airline companies to be outside realm of CDR
MCA Sources:
Corporate social responsibility (CSR) spends to be mandatory for corporate India
Companies will have to spend 2% of average net profit on CSR
Mandatory CSR to be part of companies bill amendment
Alert: Currently CSR 2009 guidelines are voluntary
Mandatory CSR for companies with Rs 500 crore networth
Mandatory CSR for companies with Rs 1000 crore sales
Mandatory CSR for companies with net profit of Rs 5 crore or more
Ratan Tata Says :
Promoter holding in Indian Hotels Co will go up
Ginger Hotels could be listed in a couple of years
SEBI Says
Companies to file shareholding 1 day prior to listing
Companies must disclose every 2% shareholding change in 10 days
Bajaj Corp IPO closes
Overall: 19.29 times (x)
QIB : 20.1x, HNI : 53.49x, Retail : 6.6x
Other stocks and sectors that are in news today:
BAG Films: Board approves preferential allotment of 50 lakh shares to Promoters
Asahi Infrastructure: Approved consolidating of shares in ratio of 1:10
Tulip Telecom : Wins R-APDRP projects worth Rs 158.2 crore for Uttar Pradesh and Gujarat
F&O cues:

Futures Open Int was up by Rs 1050 crore
Bazaar

Excerpts from Bazaar on CNBC-TV18 Watch the full show »
Options Open Int was up by Rs 4685 crore
Nifty Futures add 3 lakh shares in Open Int
Nifty Futures at 10-point premium
Nifty Open Int PCR at 1.38 versus 1.34
Nifty Puts add 53 lakh shares in Open Int
Nifty Calls add 24 lakh shares in Open Int
Nifty 5300 Put adds 10 lakh shares in Open Int
Nifty 5100 Put adds 8.7 lakh shares in Open Int
Nifty 5500 Put adds 6.7 lakh shares in Open Int
Nifty 5600 Call adds 11.5 lakh shares in Open Int
Stock Futures add 2.5 crore shares in Open Int
FIIs in F&O on August 5
Net sell Rs 290 crore in Nifty Futures
Net buy Rs 2506 crore in Nifty Options
Market cues:

Global markets trading flat
NSE F&O Open Int was up by Rs 5735 crore at Rs 1.44 lakh crore

As per provisional data of August 5, FIIs were net buyers of Rs 73 crore; DIIs were net sellers of Rs 188 crore in cash markets. FIIs were net buyers of Rs 2,189 crore in F&O.
US Markets:
The US markets ended modestly lower after a bleak weekly jobless claims count. Disappointing July retail sales also weighed on sentiment.

In economic data, the US initial jobless claims rose by almost 19,000 to 479,000. This is the highest since early April. Economists had expected claims to drop by 2,000. Continuing claims came down 34,000 from the prior week, but they remain at uncomfortably high levels above 4.5 million.
Wall Street ends with moderate loss

Barack Obama, US President, “We have got a lot of work to do. There are a lot of trends we need to address particularly in terms of long term unemployment. So a lot of folks who went from mfg went into the construction industry during the housing bubble, that bubble popped and we got a lot of blue collared guys who are now looking for work. We have to make sure that we are providing them support. One of the things that we could do to employ those folks is in rebuilding America's infrastructure for the 21st century.”
“We have just gone through a 2 week debate on which I am trying to move a small business bill that provides exactly what you are talking about-- tax incentives to small businesses that create 2/3 American jobs, we will eliminate capital gains for start-ups. We have tried to work with the other party in getting some of these things done precisely because the recovery is still not as strong as it should be.”
All eyes are now on the July non-farm payroll data that is going to be released later today in US. The street expects loss of 70,000 non-farm payrolls and a slightly higher unemployment rate of 9.6%.
In other important cues, watch out for the Federal Reserve's hearing on new mortgage regulations and Berkshire Hathway and AIG will declare their earnings.
In the currency space the dollar edged lower versus the euro as investors avoided building large positions ahead of the US payrolls report that markets hope will offer fresh insight on the state of the economy.
In the commodity space oil prices slipped as disappointing US jobless claims and retail sales data raised concerns about the energy demand outlook. However, the dollar's weakness helped limit losses.
Base metals too are trading weak on US recovery blues. Chinese bank stress test buzz also weighed on sentiment.