1. K E Y N O T E INSTITUTIONAL RESEARCHIndia Morning NoteFriday, May 11, 2012Domestic Markets Snapshot Views on markets today Name of Index May 9 May 10 Change (%) • Indian markets fell for the third straight day to hit their lowest level in more than 16 weeks as central bank Sensex 16,479.58 16,420.05 -0.36% measures to bolster the rupee had a muted impact and CNX Nifty 4,974.80 4,965.70 -0.18% as fears grow about sustained foreign selling. European BSE Mid-cap 5,994.50 5,998.32 0.06% markets also slid further after a weak opening, as BSE IT 5,545.03 5,540.27 -0.09% investors feared that surprised weakness in China trade BSE Banks 10,842.68 10,833.81 -0.08% data would further strengthen dollar against euro. BlueFII Activity (`Cr) chips such as State Bank of India and Infosys extended recent declines on Thursday, despite appeasing Date Buy Sell Net measures from the government and the Reserve Bank 9-May 2,211 2,569 -357 of India. The government on Monday delayed a 8-May 1,910 2,279 -369 controversial plan for taxation by a year, while on Total May 14,418 14,889 -472 Thursday the central bank announced measures to 2012 YTD 250,796 207,807 42990 boost dollar liquidity and ease intra-day rupee volatility. However, both measures were not seen as enough toMF Activity (`Cr) turn the tide in Indian markets, especially as global risk Date Buy Sell Net sentiment tumbles because of renewed concerns about 7-May 622 596 26 the euro-zone. Except oil & gas and consumer durable, 4-May 472 675 -204 all sectoral indices closed on negative note with metal, auto, power and pharma stocks were major losers. Total May 1,798 2,272 -474 Jindal Steel & Power dropped 2.7% as Jindal steel’s 2012 YTD 46,792 53,366 -6574 Bolivian ore project is on shaky ground, after theVolume & Advances / Declines Bolivian government encashed yet another $18mn bank NSE BSE guarantee from the Indian firm for not meeting contractual terms. Maruti Suzuki ended down 3% after Trading Volume (Cr) 64.05 21.54 Suzuki Motor Corp, which owns a 54.2% stake in the Turnover (`Cr) 9,693 2,067 local unit, posted a lower-than-expected Q4 operating Advances 616 1,239 profit and gave muted guidance. Declines 852 1,524 • Market breadth was lower at ~0.81x as investors sold Unchanged 83 145 large cap stocks. On provisional basis, FIIs bought Total 1,551 2,908 equity of `3.17bn while domestic institutions sold equityGlobal Markets of `1.43bn in cash segment. • Asian markets are mostly down today, with earnings Index Latest Values Change (%) lending support to Japanese stocks, while investors are DJIA 12,855.04 0.16% awaiting a batch of Chinese economic data due later in NASDAQ 2,933.64 -0.04% the day. Nikkei * 9,012.47 0.03% • We expect a flat opening for the Indian markets, as Hang Seng * 20,055.73 -0.85% investors are keenly waiting for industrial production* as of 8.25AM IST and monthly inflation numbers due next week.Currencies / Commodities Snapshot Economic and Corporate Developments Latest Previous • India is projected to see a faster growth of 7.5% this Quote Close fiscal on the back of higher savings and investment Indian Rupee per $ 53.25 53.75 rates, even as most of the Asia-Pacific economies are Indian Rupee per € 68.86 69.52 likely to expand at a slower pace, says a UN report. NYMEX Crude Oil($/bbl) 96.00 97.08 • Planning Commission deputy chairman Montek Singh Gold ($/oz) 1,587.00 1,595.10 Ahluwalia expressed confidence that the country can Silver ($/oz) 28.87 29.15 finance a current account deficit (CAD) of 3%. CAD touched 4.3% of GDP during the last quarter 2011-12.Keynote Capitals Institutional Research (firstname.lastname@example.org) (+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 email@example.com
2. K E Y N O T E INSTITUTIONAL RESEARCHTOP GAINERS Buzzing Stocks(BSE A-Group) • Reliance Industries has acquired shares in HDFC, Previous Current Change ICICI Bank and Axis Bank as part of long-term Company Name Close(`) Price(`) (%) investments. These financial investments, estimated Glenmark Ph 339.75 363.80 7.08 to be worth `1,200Cr, include purchase of shares of Hexaware Tech 114.45 120.70 5.46 six banks, three each from the public and private Chambal Fert 66.65 69.30 3.98 sectors, and one housing finance major, HDFC Ltd. Cairn India 308.45 320.65 3.96 The banks whose shares RIL has acquired also Britannia Inds 533.00 554.00 3.94 include SBI, Punjab National Bank and Canara Bank.(BSE Mid-Cap) • The management and pilots of debt-trapped carrier Kingfisher Airlines are set for another showdown. Previous Current Change Nearly 50 Kingfisher pilots from Delhi reported sick Company Name Close(`) Price(`) (%) on Thursday, leading to cancellations of 14 flights. Glenmark Ph 339.75 363.80 7.08 Godfrey Phil 3356.35 3544.20 5.60 • DLF, with the aim of cutting its big debt load, Hexaware Tech 114.45 120.70 5.46 recently set up a core team of five to six people to Amara Raja 284.75 298.00 4.65 focus on the process of sale of non-core assets. HATHWAY CAB 163.85 171.05 4.39 • DB Corps `176Cr share sale offer has been oversubscribed by 103%. The offer for sale of 90TOP LOSERS lakh shares of DB Corp, which publishes leading Hindi daily Dainik Bhaskar, received bids for 93.09(BSE A-Group) lakh shares. Previous Current Change Company Name • Suzlon Group-subsidiary REpower Systems bagged Close(`) Price(`) (%) HDIL 66.45 62.95 -5.27 an order to supply 19 wind turbines, each having a Suzlon Energy 20.55 19.55 -4.87 power of 2.05 MW, from RWE Innogy for its Nowy Lupin 543.35 521.35 -4.05 Staw wind farm project in Poland. Andhra Bank 109.60 105.20 -4.01 US markets Century Tex 290.30 280.10 -3.51 U.S. stocks broke their longest losing streak in nine months Thursday, helped by a dip in jobless claims and(BSE Mid-Cap) signs of stabilization in Europe, but a steep drop in Previous Current Change Cisco Systems Inc. helped send the Nasdaq Composite Company Name Close(`) Price(`) (%) Index lower. GVK Power 12.80 11.90 -7.03 Responsive Inds 91.70 86.55 -5.62 The Dow Jones Industrial Average rose 19.98 points, or HDIL 66.45 62.95 -5.27 0.2%, to 12,855.04. The S&P 500 Index also ended up Shree Global Trd 99.50 94.55 -4.97 but off its highs of the day, gaining 3.41 points, or 0.3%, to 1,357.99. The Nasdaq ended down 1.07 Redington India 86.30 82.10 -4.87 points, or 0.04%, at 2,933.64.Keynote Capitals Institutional Research (firstname.lastname@example.org) (+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 Regions 11/May 14/May 15/May India Forex Reserves Data Monthly WPI based inflation data Weekly Supplement of RBI Cumulative Industrial Output, Industrial Output & Manufacturing Output US Producer Price Index Retail Sales (MoM) (YoY) Reuters/ Michigan Retail Sales ex Autos Consumer Sentiment (MoM) Index Business Inventories Global China Producer Price Germanys Gross Index (YoY) & Consumer Domestic Product n.s.a Price Index (YoY) (YoY) China Industrial Germanys Gross Production (YoY) & Domestic Product s.a Retail Slaes (YoY) (QoQ) UK Producer Price Index - Input (YoY & MoM) n.s.a UK Producer Price Index - Output (YoY & MoM) n.s.a KEYNOTE CAPITALS LTD. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028 Tel. : +9122-30266000 • 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.