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Keynote capitals india morning note march 2-'12

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  • 1. K E Y N O T E  INSTITUTIONAL  RESEARCHIndia Morning NoteMonday, March 02, 2012Domestic Markets Snapshot Views on markets today Name of Index Feb 29 Mar 02 Change (%) • The first day of March was quite bad for the market Sensex 17,752.68 17,583.97 -0.95% with BSE Sensex falling 1% led by profit booking, even CNX Nifty 5,385.20 5,339.75 -0.84% after yesterdays better than expected second tranche of LTRO 529.5 billion euro by ECB. Tepid response for BSE Mid-cap 6,386.82 6,353.15 -0.53% ONGC auction was another reason that dampened the BSE IT 6,161.06 6,116.68 -0.72% sentiment, as the government could not manage to BSE Banks 11,974.16 11,830.87 -1.20% meet its target after a decided floor price of Rs 290 aFII Activity (`Cr) share. All sectoral indices barring healthcare ended lower. The BSE Realty Index fell over 3%. Capital Date Buy Sell Net Goods, Bank, Oil & Gas, Auto and Metal indices were 29-Feb 3,679 3,029 651 down 0.9-1.6%. Shares of Indias largest private sector 28-Feb 2,955 2,099 856 lender ICICI Bank fell 2.44% while rivals SBI was down Total Feb 80,118 54,901 25,217 1% and HDFC Bank declined 0.7% while HDFC gained 2012 YTD 133,057 96,759 36,298 1%. Capital goods majors L&T and BHEL lost 2-3%MF Activity (`Cr) after reports that both companies could not get NTPCs supercritical boilers order worth `16000Cr. Date Buy Sell Net Indias manufacturing sector expansion slowed slightly 29-Feb 656 722 -66 in February from a month ago, although the pace of 28-Feb 686 578 108 growth remained healthy as new orders touched a 10- Total Feb 14,939 17,111 -2,172 month high, a business survey showed on Thursday. 2012 YTD 25,360 29,387 -4,027 The HSBC manufacturing Purchasing Managers Index (PMI), compiled by Markit, eased to 56.6 in FebruaryVolume & Advances / Declines from 57.5 in January, which was an eight-month high. NSE BSE • Market breadth was weak at ~0.80x as investors sold Trading Volume (Cr) 86.78 28.84 large cap stocks. On provisional basis, FIIs and Turnover (`Cr) 13,240 2,848 domestic institutions sold equity of `1.27Bn and Advances 585 1,264 `0.1Bn. Declines 894 1,580 • Asian shares rose Friday, with financials joining in Unchanged 83 111 global stock gains for the sector, and Japanese Total 1,562 2,955 exporters rose on account of relatively weak yen.Global Markets • We expect a positive opening for the Indian markets, Index Latest Values Change (%) as traders and investors may try to recover their DJIA 12,980.30 0.22% losses over last few days following the uptick in the Asian shares. NASDAQ 2,988.97 0.74% Nikkei * 9,751.37 0.45% Hang Seng * 21,568.18 0.84% Economic and Corporate Developments* as of 8.25AM IST • Unemployment rate in India has declined from 8.3% inCurrencies / Commodities Snapshot FY05 to 6.6% in FY10 despite global slowdown, Latest Previous government said. Quote Close Indian Rupee per $ 49.17 49.21 Indian Rupee per € 65.44 65.54 NYMEX Crude Oil($/bbl) 108.63 108.84 Gold ($/oz) 1,721.00 1,722.00 Silver ($/oz) 35.39 35.66Keynote Capitals Institutional Research (research@keynotecapitals.net) (+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 unsubscribe@keynotecapitals.net
  • 2.                                   K E Y N O T E  INSTITUTIONAL  RESEARCHTOP GAINERS Buzzing Stocks(BSE A-Group) • Wind turbine maker Suzlon Energy said its wholly- Previous Current Change Company Name owned subsidiary REpower Systems SE has arranged Close(`) Price(`) (%) Suzlon Energy 26.60 29.65 11.47 syndicated loan worth euro 750 million (over Rs Wockhardt 484.20 517.80 6.94 4,900 crore). Reliance Cap 404.05 426.40 5.53 • Canadian research firm Veritas has slammed realty Dish TV India 54.35 57.00 4.88 major DLF Ltd, calling its accounting practices “conflicting” and pointing at gaps in its business Maruti Suzuki 1256.25 1314.55 4.64 model — charges the company termed “mischievous(BSE Mid-Cap) and presumptive”. Earlier, Veritas Investment Previous Current Change Research had come out with damaging reports on Company Name Close(`) Price(`) (%) other Indian firms, including Reliance Industries, Suzlon Energy 26.60 29.65 11.47 Reliance Communications and Kingfisher Airlines. Infotech Enter 147.80 162.30 9.81 • Oil and Natural Gas Corporation’s share auction fell Fresenius Kabi 136.70 146.70 7.32 marginally short of full subscription today. Against Essar Ports 63.25 67.80 7.19 427.77 million shares on offer, bids were received Wockhardt 484.20 517.80 6.94 for 420 million, or 98.3 per cent. However, the government raised Rs 12,766 crore, suggestingTOP LOSERS some bids came above the floor price of Rs 290 a share.(BSE A-Group) • Mahanagar Telephone Nigam (MTNL) said it has no Previous Current Change plans to shut down its CDMA business, which has a Company Name Close(`) Price(`) (%) subscriber base of over one lakh in Delhi and 50,000 United Phos 155.35 141.90 -8.66 in Mumbai. DLF 226.35 214.65 -5.17 • Zee TV has received the much-awaited landing Jet Air India 307.35 293.80 -4.41 rights in China which will enable the media firm to Gujarat Gas 426.40 408.60 -4.17 cater to audience in the mandarin country. HDIL 114.35 109.70 -4.07 US markets(BSE Mid-Cap) Previous Current Change U.S. stocks closed higher Thursday, clinging to Company Name Close(`) Price(`) (%) advances as oil futures briefly topped $110 a barrel, United Phos 155.35 141.90 -8.66 after data illustrated ongoing improvement on the jobs Hexaware Tech 122.10 114.20 -6.47 front. Shree Global Trd 142.45 135.35 -4.98 BGR Energy 368.35 350.35 -4.89 The Dow Jones Industrial Average added 28.23 points, Jet Air India 307.35 293.80 -4.41 or 0.2%, to 12,980.30. The Nasdaq Composite rose 22.08 points, or 0.7%, to 2,988.97.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 / Friday Monday Tuesday Wednesday Regions 2/Mar 5/Mar 6/Mar 7/Mar India Forex Reserves Data Weekly Supplement of RBI US Factory Orders Store Sales Consumer Credit ISM Non- ADP employment Manufacturing change EU Economic Summit Germany Purchasing UK Sales monitor Germany IIP Global Manager Index Services UK Halifax House UK Purchasing Eurozone GDP data Japan economic index Prices (3M/YoY & Manager Index & GDP MoM) Services UK PMI Construction Eurozone Purchasing Manager Index Services Euro Zone Producer Eurozone Investor Price Index (YoY & Confidence MoM) Eurozone retail sales EU Economic Summit Germany Purchasing UK Sales monitor Germany IIP Manager Index Services UK Halifax House UK Purchasing Eurozone GDP data Japan economic index Prices (3M/YoY & Manager Index & GDP MoM) Services UK PMI Construction Eurozone Purchasing Manager Index Services 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.