1. K E Y N O T E  INSTITUTIONAL  RESEARCHIndia Morning NoteMonday, March 19, 2012Domestic Markets Snapshot Views on markets today Name of Index Mar 15 Mar 16 Change (%) • Indian markets fell for the second straight day on Sensex 17,675.85 17,466.20 -1.19% Friday in a volatile session to reach their lowest closing level in more than one week after Finance CNX Nifty 5,380.50 5,317.90 -1.16% Minister Pranab Mukherjee in Union Budget 2012-13 BSE Mid-cap 6,405.36 6,361.59 -0.68% set only modest targets for trimming a ballooning BSE IT 6,080.88 6,069.03 -0.19% fiscal deficit and as there was lack of any big-bang BSE Banks 12,203.29 11,969.50 -1.92% reform announcement in the Budget. The financeFII Activity (`Cr) minister also raised services tax and excise duty to Date Buy Sell Net 12% from 10%. Implementation of the Direct Tax Code (DTC), the proposed reforms in the direct tax system, 15-Mar 2,388 2,205 183 will miss the deadline of 1 April 2012. Except FMCG 14-Mar 4,185 2,110 2075 and auto, all sectoral indices closed on negative note Total Mar 29,485 22,970 6515 with oil & gas, power, capital goods and metal stocks 2012 YTD 170,415 125,408 45007 were major losers. Oil exploration stocks dropped afterMF Activity (`Cr) the government raised cess on crude petroleum oil Date Buy Sell Net production to `4,500 per metric tonne from `2,500 per tonne in Union Budget 2012-13. Cigarette and tobacco 14-Mar 640 1,113 -473 related stocks rose in choppy trade after government 13-Mar 464 483 -19 announced increase excise duty on demerit goods Total Mar 4,728 5,495 -767 including certain cigarettes. ITC Ltd gained 3.5% after 2012 YTD 30,088 34,882 -4794 the government proposed raising the excise duty onVolume & Advances / Declines cigarettes. Gold-related stocks were hurt by the NSE BSE budget after the basic customs duty on the yellow metal was doubled. Manappuram Finance Ltd lost Trading Volume (Cr) 99.71 30.82 3.6%. PSU OMCs rose after the finance minister Turnover (`Cr) 16,434 3,581 announced proposal for a direct cash transfer on LPG Advances 449 1,044 and kerosene subsidy. Cement stocks rose after the Declines 1,035 1,801 Finance Minister rationalized excise duty on packaged Unchanged 68 120 cement. India Cements, Ambuja Cements and Total 1,552 2,965 Jaiprakash Associates rose by between 0.1% to 3.31%.Global Markets • Market breadth was weak at ~0.58x as investors sold Index Latest Values Change (%) large cap stocks. On provisional basis, FIIs bought equity of `8.83bn while domestic institutions sold DJIA 13,232.62 -0.15% equity of `7.71bn. NASDAQ 3,055.26 -0.04% • Asia markets are stronger today, with stronger crude- Nikkei * 10,148.22 0.18% oil prices supporting energy firms across the region, Hang Seng * 21,300.95 -0.08% while profit-taking pressured stocks in mainland China.* as of 8.25AM IST • We expect a positive opening for the Indian marketsCurrencies / Commodities Snapshot today, following the cues from the Asian markets. Latest Previous However, disappointment from budget may keep Quote Close pressure on the upside. Indian Rupee per $ 50.19 50.16 Economic and Corporate Developments Indian Rupee per € 66.07 66.10 NYMEX Crude Oil($/bbl) 107.30 107.06 • In FY12, the government had set its divestment target at `400bn. Gold ($/oz) 1,662.80 1,655.80 Silver ($/oz) 32.65 32.57 • The fiscal deficit in the fiscal year ending on March 31, 2012 will be 5.9% of GDP.Keynote Capitals Institutional Research (email@example.com) (+9122-30266000) Keynote Capitals Institutional Research is also available onBloomberg KNTE <GO>, Thomson One Analytics, Reuters Knowledge, Capital IQ, TheMarkets.com and securities.com 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 firstname.lastname@example.org
2.                                   K E Y N O T E  INSTITUTIONAL  RESEARCHTOP GAINERS Buzzing Stocks(BSE A-Group) • IFC to invest $60mn in Apollo Hospitals. Previous Current Change • Dredging Corporation of India to add new dredger Company Name Close(`) Price(`) (%) worth `500Cr. Amtek Auto 135.95 142.25 4.63 ITC 208.50 216.10 3.65 • Essar Steel to commission pellet unit in Odisa. IRB Infra 191.05 197.75 3.51 • ONGC will invest `33,065.31Cr in 2012-13 as Voltas 125.30 129.05 2.99 compared to `31,316Cr capex for current fiscal. M&M 659.10 676.95 2.71 • Coal India board may meet next week for new fuel supply pact.(BSE Mid-Cap) • Countrys largest manganese miner, MOIL plans to Previous Current Change Company Name enter power generation business. Close(`) Price(`) (%) Standard Charter 78.50 94.20 20.00 US markets VST Inds 1259.95 1375.60 9.18 U.S. stocks mostly declined Friday, limiting weekly Shoppers Stop 340.75 367.05 7.72 gains and halting the Dow’s longest up ride in more Dewan Housing 244.60 256.10 4.70 than a year, after an index of consumer confidence Amtek Auto 135.95 142.25 4.63 unexpectedly fell in March. The Dow Jones Industrial Average fell 20.14 points, orTOP LOSERS 0.2%, to 13,232.62. The S&P 500 added 1.57 point, or(BSE A-Group) 0.1%, to 1,404.17. The Nasdaq Composite declined Previous Current Change 1.11 points, or 0.04%, to 3,055.26. Company Name Close(`) Price(`) (%) NMDC 171.45 158.00 -7.84 Sun Pharma 586.65 545.05 -7.09 Jain Irrigation 109.50 102.75 -6.16 Cairn India 367.70 345.55 -6.02 Zee Entert 133.65 125.90 -5.80(BSE Mid-Cap) Previous Current Change Company Name Close(`) Price(`) (%) Jain Irrigation 109.50 102.75 -6.16 Anant Raj Inds 62.90 59.10 -6.04 Educomp Sol 206.35 194.40 -5.79 Lanco Infra 19.95 18.80 -5.76 Tata Teleservice 14.95 14.10 -5.69Keynote Capitals Institutional Research (email@example.com) (+9122-30266000)
3.                                   K E Y N O T E                                                                                                                                       INSTIT UT IONAL     R ES EAR C H  India and Global Economic Calendar Countries / Monday Tuesday Wednesday Regions 19/Mar 20/Mar 21/Mar India Consumer Price Index US NAHB Housing Market Index Housing Starts (MoM) Existing Home sales Data Building Permits (MoM) MBA mortgage application Global UKs Consumer Price Index UK Bank of England Minutes (MoM) and (YoY) Germanys Producer Price UK public sector net Index (MoM) and (YoY) borrowings Japan Merchandise trade balance 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.