Keynote capitals india morning note february 23-'12


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Keynote capitals india morning note february 23-'12

  1. 1. K E Y N O T E  INSTITUTIONAL  RESEARCHIndia Morning NoteThursday, February 23, 2012Domestic Markets Snapshot Views on markets today Name of Index Feb 21 Feb 22 Change (%) • Indian markets edged lower yesterday to reach their Sensex 18,428.61 18,145.25 -1.54% lowest closing level in more than a week as weakness CNX Nifty 5,607.15 5,505.35 -1.82% in European stocks triggered profit booking on the domestic bourses after recent strong rally in share BSE Mid-cap 6,604.34 6,375.69 -3.46% prices. After opening near day’s high, the Indian BSE IT 6,256.53 6,284.61 0.45% markets turned lackluster before a sudden wave of BSE Banks 12,838.84 12,348.87 -3.82% selling hit the indices in the afternoon trade ahead ofFII Activity (`Cr) F&O expiry. The market is now looking towards the general budget and the RBI’s policy review, both due Date Buy Sell Net in mid-March, for any triggers. European markets 21-Feb 4,094 2,599 1495 edged lower after economic data suggested the euro 17-Feb 4,095 3,500 595 zone may slide back into recession, hurting the global Total Feb 45,474 32,059 13415 economic outlook, while concerns about the 2012 YTD 98,413 73,917 24496 sustainability of the latest Greek bailout deal alsoMF Activity (`Cr) weighed. The BSE Mid-Cap index tumbled 3.46% and the BSE Small-Cap index shed 3.24%, both these Date Buy Sell Net indices underperformed the main markets. Except IT, 21-Feb 634 972 -338 all sectoral indices closed on negative note with real 17-Feb 1,291 1,305 -14 estate, consumer durable, metal and bank stocks were Total Feb 10,004 11,686 -1682 major losers. Kingfisher Airlines ended lower 5.98% 2012 YTD 20,425 23,962 -3537 after gaining in early trade after banking as sources told that its lenders have not agreed to extend furtherVolume & Advances / Declines loans to the debt-crippled carrier. Jet Airways India NSE BSE closed down 9.17% and Spicejet down 8.89%, after Trading Volume (Cr) 130.03 43.96 Bank of America Merrill Lynch retained its Turnover (`Cr) 18,502 3,853 "underperform" rating on the two carriers. Bank of America Merrill Lynch cited slowing traffic growth, Advances 242 769 strong capacity addition by low-cost carriers and Declines 1,293 2,208 insufficient growth in yields for being "negative" on Unchanged 37 106 the sector. NTPC closed down 1.8%, after Deutsche Total 1,572 3,083 Bank downgraded NTPC to hold from buy, citingGlobal Markets execution delays, challenges in coal logistics and unanticipated policy changes as risks for the state-run Index Latest Values Change (%) company. DJIA 12,938.67 -0.21% • Market breadth was weak at ~0.35x as investors sold NASDAQ 2,933.17 -0.52% large cap stocks. On provisional basis, FIIs bought Nikkei * 9,569.63 0.16% equity of `8.29bn while domestic institutions sold Hang Seng * 21,408.90 -0.65% equity of `13.33bn.* as of 8.25AM IST • Asian markets are mixed today as Japan rose toCurrencies / Commodities Snapshot positive territory while the Hang Seng is in negative. Latest Previous • We expect a cautious opening for the Indian markets, Quote Close as globally investors are on a profit taking spree. Indian Rupee per $ 49.15 49.23 Indian Rupee per € 65.14 65.21 Economic and Corporate Developments NYMEX Crude Oil($/bbl) 105.90 106.28 • The government has formally allowed local airlines to Gold ($/oz) 1,774.70 1,770.00 import jet fuel directly, it said in a statement on Silver ($/oz) 34.31 34.24 Wednesday, in a major policy move expected to bring down costs for debt-laden carriers.Keynote Capitals Institutional Research ( (+9122-30266000) Keynote Capitals Institutional Research is also available onBloomberg KNTE <GO>, Thomson One Analytics, Reuters Knowledge, Capital IQ, and Keynote Capitals Institutional Research - winner of “India’s Best IPO Analyst Award 2009” by MCX-Zee Business To unsubscribe from this mailing list, please reply to
  2. 2.                                   K E Y N O T E  INSTITUTIONAL  RESEARCHTOP GAINERS Buzzing Stocks(BSE A-Group) • DLF sold 350 flats worth about `500Cr in a luxury Previous Current Change housing project in Gurgaon. The housing project The Company Name Close(`) Price(`) (%) Primus, which is part of a 450 acre integrated Tata Comm 237.95 253.80 6.66 township - DLF Garden City, was launched yesterday Coromandel Intl 267.90 276.40 3.17 and all the flats were sold on the same day. Gitanjali Gems 393.75 406.15 3.15 • Kingfisher Airlines has to pay `40Cr dues in indirect Sun TV Network 322.45 331.45 2.79 taxes by March 31, Central Baord of Excise and Container Corp 989.35 1015.15 2.61 Customs (CBEC) Chairman S K Goel said.(BSE Mid-Cap) • Tyre maker Ceat is planning to start a plant in Bangladesh and is scouting for land for the same. Previous Current Change Company Name Close(`) Price(`) (%) • Anil Ambani-led Reliance Communications signed Tata Comm 237.95 253.80 6.66 final definitive agreements with three Chinese banks Shree Global Trd 159.25 166.90 4.80 for refinancing its outstanding debts of about Responsive Inds 98.85 103.00 4.20 `5,825Cr ($1.18bn) that were raised through foreign IPCA Lab 319.10 330.40 3.54 currency convertible bonds (FCCBs). Hindusthan Nats 183.55 189.95 3.49 • Hero MotoCorp, the worlds largest two-wheeled vehicle manufacturer, said on Wednesday it hadTOP LOSERS entered into a partnership with US motorcycle(BSE A-Group) company Erik Buell Racing (EBR). Previous Current Change US markets Company Name Close(`) Price(`) (%) U.S. stocks on Wednesday retreated after a three- Lanco Infra 23.45 19.50 -16.84 session winning run, as investors booked profits in the United Spirits 665.85 570.90 -14.26 equities. GMR Infra 32.60 28.85 -11.50 The Dow Jones Industrial Average fell 27.02 points, or IRB Infra 208.90 186.40 -10.77 0.2%, to 12,938.67. The S&P 500 Index fell 4.55 points, Voltas 114.65 102.65 -10.47 or 0.3%, to 1,357.66. The Nasdaq Composite Index(BSE Mid-Cap) declined 15.40 points, or 0.5%, to 2,933.17. Previous Current Change Company Name Close(`) Price(`) (%) Lanco Infra 23.45 19.50 -16.84 VIP Inds 124.85 110.85 -11.21 IRB Infra 208.90 186.40 -10.77 Voltas 114.65 102.65 -10.47 GVK Power 19.70 17.65 -10.41Keynote Capitals Institutional Research ( (+9122-30266000)
  3. 3.                                   K E Y N O T E                                                                                                                                       INSTIT UT IONAL     R ES EAR C H  India and Global Economic Calendar Countries / Thursday Friday Monday Tuesday Regions 23/Feb 24/Feb 27/Feb 28/Feb India Forex Reserves Data Weekly Supplement of RBI US Jobless claims Reuters/ Michigan Pending Home Sales Durable Goods Consumer Sentiment (MoM) Orders Index Housing Price Index New Home Sales (Jan) Consumer Confidence Global UK BBA (British UK GDP (YoY & QoQ) Eurozone M3 Money Japans National bankers association (Q3) Supply (YoY) Consumer Price Index )Mortgage Approvals (YoY) UK Index of Services UK,s Mortgage Japans National CPI (3M) (Jan) Approvals Ex Food, Energy (YoY) UK Total Business Germany,s Retail Investment (YoY & Sales (MoM) QoQ) (Q4) KEYNOTE CAPITALS LTD. 4th Floor, Balmer Lawrie Building, 5, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001. INDIA Tel. : 9122-2269 4322 / 24 / 25 • www.keynotecapitals.comDisclaimer: This report is purely for information purpose and is based on public information. News content is attributable tovarious media, unless specified otherwise. All market related statistical data pertains to the immediately preceding trading day,unless stated otherwise. Neither the information nor any opinion expressed in this report constitutes an offer, or an invitation tomake an offer, to buy or sell the securities mentioned herein. We or any of our directors, officers or employees shall not in anyway be responsible for any loss arising from the use of this report. Investors are advised to apply their own judgment beforeacting on the contents of this report. The report has not been edited due to time constraints.