1. Indian markets snapped a two-day losing streak, closing higher supported by gains in IT and other sectors after positive earnings from TCS. 2. Asian stocks are mostly higher today tracking gains on Wall Street, while the Indian market is expected to open positively taking cues from Asia. 3. Key economic data this week includes the US GDP and jobs reports, along with Indian foreign reserves and economic data.

1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, April 25, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Apr 23 Apr 24 Change (%) • Indian markets snapped two-day losing streak and
Sensex 17,096.68 17,207.29 0.65% closed on positive note yesterday as firm European
CNX Nifty 5,200.60 5,222.65 0.42% stocks and better-than-expected earnings from the
BSE Mid-cap 6,310.31 6,301.98 -0.13% country's leading software services exporter
BSE IT 5,300.62 5,562.12 4.93% supported sentiment. IT major TCS jumped nearly 13%
BSE Banks 11,798.91 11,767.66 -0.26% after good Q4 results and positive FY 2013 outlook.
Other IT stocks also gained after positive outlook from
FII Activity (`Cr)
TCS. The upward movement was led by buying
Date Buy Sell Net activities in IT, power, metal and FMCG stocks while
23-Apr 1,278 1,617 -339 capital goods, pharma, oil & gas and banks stocks
20-Apr 1,709 1,381 328 witnessed some selling pressure. Telecom shares
Total Apr 24,206 24,967 -759 dropped across the board after the telecom regulator
2012 YTD 224,440 179,872 44567 suggested a base auction price of 2G spectrum that is
several times more than that at which the government
MF Activity (`Cr)
allotted 122 licenses and bandwidth to several
Date Buy Sell Net companies in 2008. HCL Technologies rose 3.02%
23-Apr 423 524 -101 after the company said after market hours on Monday
20-Apr 459 359 100 that it has won a product development deal from US-
Total Apr 6,427 6,836 -409 based GridPoint. As part of this multi-year deal, HCL
2012 YTD 42,372 48,354 -5983 will extend existing development efforts of GridPoint's
software solutions to help accelerate the pace of
Volume & Advances / Declines
delivering new capabilities to the market. Shares of
NSE BSE agrochemical makers United Phosphorus and Excel
Trading Volume (Cr) 54.52 17.77 Crop Care fell on reports the Competition Commission
Turnover (`Cr) 11,852 2,309 of India has found them guilty of cartelization and
Advances 658 1,332 price manipulations. Excel Crop Care (down 5.13%)
Declines 795 1,393 and United Phosphorus (down 6%) edged lower.
Aviation stocks fell on concerns of delay in
Unchanged 88 120
government clearance on foreign direct investment
Total 1,541 2,845
(FDI) in the sector. Jet Airways, Kingfisher Airlines and
Global Markets SpiceJet shed by between 1% to 5.03%.
Index Latest Values Change (%) • Market breadth was however lower at ~0.96x as
DJIA 13,001.56 0.6% investors sold large cap stocks.
NASDAQ 2,961.60 -0.3%
• Asian Stocks are mostly up today, tracking their US
Nikkei * 9,546.69 0.8%
counterparts. While Nikkei is almost 1% up, the Hang
Hang Seng * 20,670.90 0.0%
Seng is flat.
* as of 8.25AM IST
• We expect a positive opening for the Indian markets,
Currencies / Commodities Snapshot
following the cues from the Asian markets.
Latest Previous
Quote Close Economic and Corporate Developments
Indian Rupee per $ 52.53 52.695
• The government disbursed `3.93 lakh crore as
Indian Rupee per € 69.25 69.54
agricultural credit during the April-January period last
NYMEX Crude Oil($/bbl) 103.70 103.55 fiscal.
Gold ($/oz) 1,641.70 1,643.00
• India is importing 14 mn tonne of oil from Iran.
Silver ($/oz) 30.78 30.75
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Coal India sets 468 MT production target.
Previous Current Change • Alstom Bharat Forge Power, a joint-venture between
Company Name
Close(`) Price(`) (%) Bharat Forge Ltd and Alstom, has bagged `,570Cr
TCS 1059.25 1195.25 12.84
order from NTPC.
National Alum 55.90 60.10 7.51
• Essar Shipping is planning to reduce its $1.1bn debt.
Pantaloon Retl 160.80 168.20 4.60
Wipro 423.70 442.50 4.44 • Coal India would finalise at least eight fuel supply
Hexaware Tech 125.05 130.50 4.36 agreements today.
• Competition watchdog CCI has approved the merger
(BSE Mid-Cap)
of Sterlite Industries and Sesa Goa.
Previous Current Change
Company Name • Lupin to set up new plant at Nagpur,invests `400Cr
Close(`) Price(`) (%)
Gruh Finance 678.70 740.00 9.03 in 5 yrs.
Essar Ports 83.90 88.15 5.07 US markets
COX KINGS 129.80 136.20 4.93 U.S. stocks advanced, amid better-than-estimated
Pantaloon Retl 160.80 168.20 4.60 earnings at companies from AT&T Inc. to 3M (MMM) Co.
Hexaware Tech 125.05 130.50 4.36 and as data indicated the housing market is stabilizing.
The S&P 500 rose 0.4% to 1,371.97. The Dow Jones
TOP LOSERS
Industrial Average added 74.39 points, or 0.6%, to
(BSE A-Group) 13,001.56. The Nasdaq Composite Index lost 0.3% to
Previous Current Change 2,961.60.
Company Name
Close(`) Price(`) (%)
United Phos 127.55 119.90 -6.00
Ambuja Cements 158.20 151.55 -4.20
Ultratech Cem 1466.60 1410.15 -3.85
Lanco Infra 15.75 15.15 -3.81
Idea Cellular 83.25 80.15 -3.72
(BSE Mid-Cap)
Previous Current Change
Company Name
Close(`) Price(`) (%)
Rallis India 128.65 120.50 -6.34
Polaris Fin Tec 150.70 141.20 -6.30
United Phos 127.55 119.90 -6.00
Himadri Chem 36.55 34.70 -5.06
Shree Global Trd 104.55 99.35 -4.97
Keynote Capitals Institutional Research (research@keynotecapitals.net) (+9122-30266000)

3. K E Y N O T E
INSTIT UT IONAL R ES EAR C H
India and Global Economic Calendar
Countries / Wednesday Thursday Friday Monday
Regions 25/Apr 26/Apr 27/Apr 30/Apr
India Forex Reserves Data Indian Economic
data
Weekly Supplement
of RBI
US Fed interest rate GDP Anualized & Data of Personal
decision and press Gross Domestic Income and Outlays
conference Purchases Price
Index (Q1)
FOMC minutes Real Personal
Consumption
Expenditures (QoQ)
(Q1)
Reuters/ Michigan
Consumer
Sentiment Index
(Apr)
Global UK GDP data UK GFK consumer Japan BoJ Interest Germany retail Sales
confidence Rate Decision
Japan Annualized
Housing Starts &
Construction Orders
(YoY)
UK Nationwide
Housing Prices n.s.a
(YoY & MoM)
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