Keynote capitals india morning note jun 22-'12Document Transcript
India Morning Note a gFrida June 22, 2012 ay,Dom mestic Mark kets Snapsh hot Views on markets t today Nam of Index me Jun 20 Jun 21 Change (%) ) • India markets edged hig an s gher for th third straight he Sensex 16,896.63 17,032.56 0.80% trading session and attaine seven-we ed eek closing highs CNX Nifty X 5,120.55 5,165.00 0.87% yestterday despite losses in other glob indexes, as oil n bal BSE Mid-cap 5,954.37 6,002.48 0.81% stocks rallied o slumping crude pric on g ces, while o overall senttiment was also bolstered after J.P.Morgan a BSE IT 5,688.53 5,677.50 -0.19% upgrraded dome estic equitie to "over es rweight." Th fall he BSE Banks 11,329.51 11,562.75 2.06% in Brrent to an 1 18-month lo and of U.S. crude fu ow U uturesFII A Activity (`Cr) to an eight-mon low is a big relief fo a net imp n nth or porter Date e Buy Sell Net like India, esp pecially giv ven its blooated fiscal and 20-Jun 1,972 1,720 252 curre account deficits and slowing economic growth. ent t 19-Jun 1,903 1,761 142 • J.P.M Morgan also upgraded its call on Indian eq o n quities Tota Jun al 26,751 26,109 642 from "neutral", citing a n m number of factors inclluding 2012 YTD 309,785 267,204 42580 histo oric valua ations, exp pectations for mon netary stimulus, lower oil prices, and a we r eak rupee. DataMF A Activity (`Cr) showwed resumption of buying of Indian stock by ks Date e Buy Sell Net foreiign institutional invest tors also boosted dom b mestic 20-Jun 536 348 188 investor’s sentimments. 19-Jun 401 413 -12 • Glob markets weakened after the Federal Re bal s d eserve Tota Jun al 6,028 5,468 560 exte ended its bbond-buying programm by less than g me 2012 YTD 59,892 65,799 -5907 some investors had hoped while China posted weak s d,Volu ume & Adva ances / Dec clines facto ory data a and the eeuro zones private s s sector showwed declines. NSE BSE Trad ding Volume (Cr) 56.68 18.23 • Bank shares ro k ose after FFinancial Se ervices Secretary D.K. Mittal said India is v d very well po oised to tac ckle a Turn nover (`Cr) 9,754 1,961 glob economic crisis and played dow concerns over bal c wn s Advances 935 1,658 the health of st tate-run banks. FMCG stocks exte ended Declines 512 1,079 their recent gains triggere by report that sowing of r ed ts Unchanged 81 124 summer crops including rice, oilseeds and cotto has s on Tota al 1,528 2,861 start ted with the monsoon covering half of India early e hGlob Markets bal this week. Inde ex Late Values est Change (%) ) • Markket breadth was strong at ~1.5 h 54x as inve estors DJIA A 12,573.57 -1.96% bougght large c cap stocks. On provis sional basis FIIs s, bougght equity of `2.57bn while dommestic institu utions NAS SDAQ 2,859.09 -2.44% sold equity of `0 0.69bn in ca segmen ash nt. Nikk * kei 8,776.98 -0.53% Hang Seng * 19,080.91 -0.96% • Asia markets dr ropped shar rply, after weak US ma w arkets, as signs of a deepening global economic slow s wdown* as o 8.25AM IST of wipe away investor appet ed tite for risk.Curr rencies / Co ommodities Snapshot s • We expect a w weak opening for the Indian ma e arkets Latest Previous Quote Close todaay, following the cues from the Asian ma s e arkets. Indian Rupee per $ 56.28 56.15 Howwever, falling crude oil p g prices would provide su d upport to th markets. he Indian Rupee per € 71.71 71.32 NYM MEX Crude Oil($/bbl) 78.62 78.20 Econom and Cor mic rporate Dev velopments s Gold ($/oz) d 1,562.00 1,564.60 • Mark regulato SEBI said mutual fun ket or nds can com out me Silve ($/oz) er 26.89 26.84 with pension sc chemes and it is in touch with finance d ministry to sort out the tax xation issues s.Keyn note Capitals Research h (reseaarch@keyno otecapitals.net) (+91222-3026600 00) Keyynote Capita Research is also available on als hBloo omberg KNTE <GO>, Tho E omson One A Analytics, Re euters Knowwledge, Capit IQ, TheMa tal arkets.com and securitie a es.com Keynote Capitals Institu utional Resea arch - winner of “India’s Best IPO Analyst Award 2009” by MCX-Zee Business To unsubsc cribe from th mailing lis please reply to unsub his st, bscribe@keyynotecapitals s.net
TOP GAINERS Buzzin Stocks ng(BSE A-Group) E • The Competitio Commiss on sion of India (CCI) has f fined Previous Currennt Change 11 Indian cement companies a total of `63bn in a Com mpany Name e Close(` `) Price(` `) (%) price collusion investigatio the gove on, ernment said in HDIL L 73.20 0 79.30 8.33 a statement on Thursday. UltraTech Cement , pa of n C art JPINFRATEC 45.95 5 49.25 7.18 the diversified Aditya Birla Group, Ho a olcim -contro olled Essa Oil ar 53.80 0 56.70 5.39 ACC and Ambu Cement , India Ce C uja t ements and the Petrronet LNG 129.65 5 136.25 5.09 Indian unit of Frances La afarge SA are among the Indiaabulls Real 55.20 0 57.90 4.89 com mpanies penalised. Est(BSE Mid-Cap) E • A ye our strife at Maruti Su ear after th first labo he uzuki Previous Currennt Change India Limited (M MSIL)’s Manesar facility the car maker y, Com mpany Name e Close(` `) Price(` `) (%) is set to face prosecut s tion procee edings by the Tulip Telecom p 100.50 111.35 10.80 Haryyana gover rnment’s laabour department for not HDIL L 73.20 79.30 8.33 adhering to the agreement signed with worker at w rs Schn neider Elec 72.90 78.50 7.68 the unit. JPINFRATEC 45.95 49.25 7.18 • Tata Motors de a keep the po of Managing ecided to k ost Hind dustan Oil 123.30 131.40 6.57 Dire ector vacant after incuumbent Pra akash M Te elang retir red after bbeing at th helm fo three ye he or ears.TOP LOSERS Instead, India as largest vehicle manufact t turer(BSE A-Group) E appointed two Executive D Directors -- Ravi Pishar rody, the current president of the comm f mercial vehicle Previous Currennt Change Com mpany Name e busiiness unit ( (CVBU) and Satish Bor d rwankar, Seenior Close(` `) Price(` `) (%) IOB 89.15 5 85.10 0 -4.54 Vice e-President (Manufacturing Operations O – RIL 737.60 0 718.60 0 -2.58 Commmercial Veehicles Busin ness Unit). JUBL FOOD L 1212.40 0 1182.70 0 -2.45 • Masstek’s US subsidiary M MajescoMast tek said it had Nest India tle 4587.00 0 4478.05 5 -2.38 sign ned a mult ti-year licence, impleementation and Amb buja Cements s 175.45 5 171.60 0 -2.19 maintenance engagement for its STG Billing solu t G ution with a Fortune-100 insura h ance and finnancial servvices(BSE Mid-Cap) E commpany. The initial value of the con e ntract is $30mn Previous Currennt Change (aro ound `170Cr). As a part of this co ontract, Maastek Com mpany Name e Close(` `) Price(` `) (%) will modernise the compa any’s enterp prise billing and Sunt teck Realty 371.90 349.50 -6.02 payments platf form across all the lines of insura s ance Allca argo Logistics s 137.25 130.15 -5.17 and financial pr roducts. IOB 89.15 85.10 -4.54 Blue Dart e 1983.00 1919.00 -3.23 US markets Shre Global Trd ee d 82.10 79.55 -3.11 ocks tumble as prices for key commodities fell US sto ed, s sharply after s y, signals of a global slowdown in n manufaacturing addded to disappointing housing and g labour market dat ta.Keyn note Capitals Research h (resea arch@keyno otecapitals.net) (+912 22-3026600 00)
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