1. India-GlobalMarketSummary 10-4-2014
• Market reversed intraday gains in late trade as European stocks slipped into the red from
green. The market breadth, indicating the overall health of the market was positive. The
Sensex edged higher in early trade after overnight rally in US stocks. Nifty closed flat at
6796.40 and Sensex rose 0.06% to 22715.33.
• The Reserve Bank of India (RBI) next undertakes monetary policy review on 3 June 2014. The
RBI left its main lending rate viz. the repo rate unchanged at 8% after a monetary policy
review on 1 April 2014, as consumer-price inflation eased to a two-year low and as the rupee
firmed up against the dollar.
• The next major trigger for the stock market is Q4 March 2014 and year ended 31 March 2014
(FY 2014) corporate earnings. Investors and analysts will closely watch the management
commentary that would accompany the results to see if there is any revision in their future
earnings forecast of the company for the year ending 31 March 2015 (FY 2015) and/or for the
year ending 31 March 2016 (FY 2016). Indian companies will start reporting their Q4 and full
year results from mid-April 2014, with Infosys announcing its results on 15 April 2014. The
results season will conclude in end-May 2014.
• A major near term trigger for the stock market is the outcome of the upcoming Lok Sabha
elections. The 36 days long voting process began on 7 April 2014 and will conclude on 12
May 2014. The results will be declared on 16 May 2014 after which India will get a new
government. The term of the current Lok Sabha expires on 1 June and the new House has to be
constituted by 31 May.

2. • Shares of power generation and power distribution companies edged higher. Kotak Mahindra
Bank and UltraTech Cement hit record high. Hindalco Industries reversed direction after
scaling 52-week high. L&T hit 52-week high.
• GMR Infrastructure said that GMR Highways has completed the Chennai Outer Ring Road
Phase I project.
• Ravalgaon Sugar Farm said that its board has accepted in-principle the introduction of
Voluntary Retirement Scheme (VRS) for the workmen at the factory.
• GTL Infrastructure said that a meeting of the committee will be held on 10 April 2014, to
consider allotment of equity shares for conversion of FCCBs at a conversion price of Rs 10
per share.
• Infosys announced that its Finacle core banking solution running on an Oracle SuperCluster
engineered system has set new global benchmarks for the number of transactions processed
across key banking functions.
• MAN Industries (India) said it has built up order book of approximately Rs 1200 crore, which
includes the recently received orders worth approximately Rs 700 crore from domestic and
international customers
• Supreme Petrochem said that its board will meet on 21 April 2014, to consider the buyback of
equity shares of the company to such extent, not exceeding 10% of the networth
• Shilpa Medicare said that its board will meet on 11 April 2014 to consider the proposal for
offer and issue of Equity Shares or Warrants or convertible instruments on preferential basis.

3. • Foseco India turns ex-dividend today, 10 April 2014, for a special dividend of Rs 12.50
per share and a final dividend of Rs 3 per share for the year ended December 2013.
• Gulf Oil Corporation turns ex-dividend today, 10 April 2014, for a special dividend of
Rs 0.30 per share and a final dividend of Rs 2.20 per share for the year ending March
2014.
• State Bank of Mysore turns ex-dividend today, 10 April 2014, for interim dividend of Rs
3 per share for the year ending March 2014.
• Anuh Pharma surged 5.73% after the company said it has received approval from Health
Authority of Mexico for three of its Erythromycin products.
• Piramal Enterprises rose 6.13% after the firm said it has agreed to divest its entire equity
stake in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group
Plc, for total consideration of Rs 8900 crore
• GTL Infrastructure was locked at 5% upper circuit after the firm said it will consider
allotment of equity shares consequent upon conversion notice received for conversion of
FCCB at a conversion price of Rs 10 per share
• HCL Infosystems lost 1.68% on profit booking after gaining 18.06% in prior three
trading sessions.
• Suven Life Sciences rose 3.12% after the firm said it has secured 2 product patents one
each from Hong Kong and Canada corresponding to the NCEs for the treatment of
disorders associated with Neurodegenerative diseases

4. Global news
• European stocks reversed initial gains on Thursday, 10 April 2014, as mining companies fell after a report showed
Chinese imports unexpectedly slumped last month. Asian stocks edged higher in choppy trade on Thursday, 10 April
2014, as China's central bank pumped money into the banking system for the first time in nine weeks. Trading in US
index futures indicated that the Dow could drop 55 points at the opening bell on Thursday, 10 April 2014. US stocks
rallied on Wednesday, 9 April 2014, with technology shares gaining the most in two months, as minutes from the Federal
Reserve's last meeting eased concern about the timing of future interest-rate increases.
• Greece's first bond sale since its 2010 bailout will raise 3 billion euros ($4.15 billion) at a yield of 4.95%, according to
media reports.
• The outcome of a monthly meeting of the Monetary Policy Committee (MPC) of the Bank of England's (BoE) is due
today, 10 April 2014. The BoE is expected to leave its key interest rate at a record low of 0.5% as policy makers try to
gauge the amount of spare capacity in the economy. The MPC is also expected to keep its asset-purchase program on hold
at 375 billion pounds ($629 billion).
• Chinese exports fell 6.6% in March, extending the steepest drop since 2009 in February and missing the estimate. China's
imports plunged 11.3% last month down from growth of 10.1% in February and below the estimates. China's export data
have been distorted by inflated numbers in early 2013, when some companies filed fake invoices to disguise capital
inflows.
• China's Premier Li Keqiang said China will not take any forceful stimulus measures to counter short-term fluctuations in
its economic growth, stressing again that authorities have flexibility in achieving the 2014 growth target. Sustaining
healthy growth in China's labour market is most important for the government, Li told an investment forum in China's
southern island of Hainan. Whether China's annual economic growth comes in slightly above or below a targeted 7.5% is
less important in comparison, he said.
• Li said China plans to create conditions that will link the stock exchanges in Hong Kong and Shanghai to deepen the
nation's capital markets.
• The Bank of Korea left its key rate unchanged at its first policy meeting under Lee Ju Yeol, as low inflation gives the new
governor room to support growth in Asia's fourth-biggest economy. The central bank held the seven-day repurchase rate
at 2.5% for an 11th straight month, it said in a statement in Seoul today, 10 April 2014.

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