K E Y N O T E INSTITUTIONAL RESEARCHIndia Morning NoteWednesday, May 09, 2012Domestic Markets Snapshot Views on markets today Name of Index May 7 May 8 Change (%) • Indian markets tumbled to their lowest closing level in almost 16 weeks as continued lack of clarity regarding Sensex 16,912.71 16,546.18 -2.17% taxation for foreign investors and fall in the rupee CNX Nifty 5,114.15 4,999.95 -2.23% weighed the investor sentiments. The changes BSE Mid-cap 6,132.58 6,053.89 -1.28% General Anti-Avoidance Rule are still vague and the BSE IT 5,709.56 5,533.39 -3.09% uncertainty would continue at least until May 31, when BSE Banks 11,374.31 11,051.80 -2.84% a government committee is expected to provideFII Activity (`Cr) guidelines. Comments from the RBI’s deputy governor Subir Gokarn that the RBI has relatively little room to Date Buy Sell Net cut interest rates and weakness in European stocks 7-May 2,191 2,784 -593 also weighed on the domestic markets. All sectoral 4-May 3,503 2,991 513 indices closed on negative note with capital goods, IT, Total May 10,297 10,042 255 bank and power stocks were major losers. IT stocks 2012 YTD 246,675 202,960 43717 was also hit after U.S.-based Cognizant Technology Solutions Corp lowered its full-year forecast, citingMF Activity (`Cr) weak demand from North American financial services Date Buy Sell Net clients. TTCS fell 5.7% after JP Morgan downgraded it 7-May 622 596 26 to "neutral" from overweight" saying the stock price 4-May 472 675 -204 was now "fully valued" at current 19 time forward fiscal 2013 earnings. Gas utility stocks benefitted on Total May 1,798 2,272 -474 speculation the government was planning to raise 2012 YTD 46,792 53,366 -6574 liquefied natural gas imports to meet gas demand.Volume & Advances / Declines Reliance Industries fell ~1% on lingering concerns NSE BSE about a standoff with the government over pricing of gas and recovery of input costs from projects. Coal Trading Volume (Cr) 65.08 20.26 India rose 2.04% on reports the company has floated a Turnover (`Cr) 10,900 2,115 global tender for expression of interest for Advances 456 1,052 development of its coal blocks in Mozambique after Declines 1,006 1,688 two failed attempts since 2010. Unchanged 72 132 • Market breadth was lower at ~0.62x as investors sold Total 1,534 2,872 large cap stocks. On provisional basis, FIIs sold equityGlobal Markets of `3.99bn while domestic institutions bought equity of `2.58bn in cash segment. Index Latest Values Change (%) • Asia markets slumped early Wednesday as efforts to DJIA 12,932.09 -0.59% stitch together a Greek government stoked anxiety NASDAQ 2,946.27 -0.39% about the future for the euro zone, and as a strong Nikkei * 9,072.18 -1.19% yen pressured exporters in Tokyo. Hang Seng * 20,321.67 -0.80% • We expect a weak opening for the Indian markets* as of 8.25AM IST today, following the rising concerns in the EurozoneCurrencies / Commodities Snapshot and domestic economic issues. Latest Previous Economic and Corporate Developments Quote Close • The government collected over `4.93 lakh crores as Indian Rupee per $ 53.14 52.91 per provisional estimates from direct taxes during the Indian Rupee per € 69.09 68.95 2011-12 fiscal, as against a revised estimate of `5 lakh NYMEX Crude Oil($/bbl) 96.60 97.01 crores. Gold ($/oz) 1,595.30 1,604.00 • The RBI has little room for lowering interest rates as it Silver ($/oz) 29.28 29.41 still sees inflationary pressure in the medium to long term, Deputy Governor Subir Gokarn said.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
K E Y N O T E INSTITUTIONAL RESEARCHTOP GAINERS Buzzing Stocks(BSE A-Group) • Suzlon signed contract with state-owned Gujarat Previous Current Change Mineral Development Corporation (GMDC) for setting Company Name Close(`) Price(`) (%) up 50 Mw wind power project in Jamnagar. MMTC 749.40 789.80 5.39 • Reliance Industries cut estimates for proven gas Petronet LNG 135.60 141.60 4.42 reserves in its Krishna-Godavari block off the east TTK Prestige 3026.90 3124.55 3.23 coast by 6.7%, to 3.67 trillion cubic ft (tcf), the Muthoot Fin 117.40 120.80 2.90 company said in its annual report. Thermax 417.40 427.55 2.43 • In a major relief to Lanco Infratech, the Supreme(BSE Mid-Cap) Court passed orders on Tuesday staying the orders of the Wakf Tribunal and also a division bench of Previous Current Change Company Name Andhra Pradesh (AP) High Court which prevented Close(`) Price(`) (%) JUBILANT 178.20 187.85 5.42 Lanco Infratech from selling the properties in its Shree Global Trd 99.55 104.50 4.97 township to third parties. Bayer Crop 755.45 785.50 3.98 • CESC decided to revive the abandoned Balagarh 3M India 3767.15 3900.00 3.53 power project in West Bengal at an estimated TTK Prestige 3026.90 3124.55 3.23 investment of `10,500Cr. • Jindal Steel and Power acquired a 9.25% stake inTOP LOSERS Australias Apollo Minerals for AUD1mn (about(BSE A-Group) `5.30Cr). Previous Current Change US markets Company Name Close(`) Price(`) (%) U.S. stocks recovered from almost 200 point drop, Central Bank 88.30 77.55 -12.17 limiting the damage that came with concern about Pantaloon Retl 165.60 152.70 -7.79 Greece’s struggle to form a government. Jaiprakash Asso 69.40 64.10 -7.64 After a 198-point drop, the Dow Jones Industrial Shriram Trans 544.85 507.40 -6.87 Average closed down 76.44 points, or 0.6%, at Manappuram Fin 25.90 24.20 -6.56 12,932.09. The S&P 500 Index retreated 5.86 points, or(BSE Mid-Cap) 0.4%, at 1,363.72. The Nasdaq Composite Index shed 11.49 points, or 0.4%, at 2,946.27. Previous Current Change Company Name Close(`) Price(`) (%) Central Bank 88.30 77.55 -12.17 India Infoline 51.15 45.80 -10.46 VST Inds 1940.65 1776.65 -8.45 Pantaloon Retl 165.60 152.70 -7.79 Manappuram Fin 25.90 24.20 -6.56Keynote Capitals Institutional Research (email@example.com) (+9122-30266000)
K E Y N O T E INSTIT UT IONAL R ES EAR C H India and Global Economic Calendar Countries / Wednesday Thursday Friday Monday Regions 9/May 10/May 11/May 14/May India Forex Reserves Data Monthly WPI based inflation data Weekly Supplement of RBI Cumulative Industrial Output, Industrial Output & Manufacturing Output US wholesale Continuing & Initial Producer Price Index inventories Jobless Claims (YoY) Trade balance Reuters/ Michigan Consumer Sentiment Index Import Price Index Global Germany trade China Trade Balance China Producer Price balance data Index (YoY) & Consumer Price Index (YoY) UK Industrial China Industrial productions Production (YoY) & Retail Slaes (YoY) 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.