1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, April 11, 2012
Domestic Markets Snapshot Views on markets today
• Indian markets snapped two-day losing streak and
Name of Index Apr 9 Apr 10 Change (%)
closed with modest gain yesterday as banks recovered
Sensex 17,222.14 17,243.84 0.13% after recent steep falls in previous few trading session.
CNX Nifty 5,234.40 5,243.60 0.18% Report that the monsoon season will arrive in India by
BSE Mid-cap 6,386.76 6,370.45 -0.26% the first week of June 2012, which is considered on
BSE IT 6,037.74 5,980.82 -0.94% time, also boost the markets sentiment. Good
BSE Banks 11,709.34 11,766.02 0.48% monsoon may boost farm incomes and consumer
spending. The upward movement was led by buying
FII Activity (`Cr) activities in FMCG, auto, bank and real estate stocks
Date Buy Sell Net while capital goods, IT, metal and oil & gas stocks
9-Apr 1,085 1,338 -253 witnessed some selling pressure. FMCG stocks moved
4-Apr 1,411 1,277 134 up on reports that monsoon may arrive in time this
year. ITC and Nestle India hit record highs. Gas utility
Total Apr 4,506 4,255 251
stocks dropped after the Petroleum and Natural Gas
2012 YTD 204,740 159,162 45578
Regulatory Board directed Indraprastha Gas (IGL) to
MF Activity (`Cr) cut tariffs for certain types of gas in New Delhi in a bid
Date Buy Sell Net to reduce prices for consumers. IGL was closed 33.7%
lower after this directive. Among other gas utilities
9-Apr 194 401 -207
GAIL was down 3.1%, Gujarat Gas lost 7%, Petronet
4-Apr 372 417 -45
LNG declined 4.3%, and GSPL was down 7.9%. Cairn
Total Apr 1,426 1,645 -220 India rose 2.14% as it announced that it had an
2012 YTD 37,371 43,164 -5794 average daily gross operated production of 180,293
Volume & Advances / Declines barrels of oil equivalent (boe) in Q4 2012, with working
interest production at 107,292 barrels of oil equivalent
NSE BSE
per day (boepd). Sesa Goa dropped 1.77% after the
Trading Volume (Cr) 65.09 25.42 company said that sales of iron ore fell 21% to 5.2
Turnover (`Cr) 10,496 2,127 million tonnes in Q4 March 2012 over Q4 March 2011.
Advances 665 1,337 • Market breadth was however lower at ~0.93x as
Declines 783 1,432 investors sold small and mid cap stocks. On
Unchanged 94 150 provisional basis, both FIIs and domestic institutions
sold equities worth `3.28bn and `1.90bn, respectively.
Total 1,542 2,919
• Asia shares fell, as a stronger yen pressured Japanese
Global Markets exporters, while a surge in European borrowing costs
Index Latest Values Change (%) increased concerns about the debt-stricken region.
DJIA 12,715.93 -1.65% • We expect a weak opening for the Indian markets on
NASDAQ 2,991.22 -1.83% renewed concerns in the Eurozone and drying foreign
investments in the Indian markets. Investors will also
Nikkei * 9,445.10 -0.97%
keep caution ahead of the crucial industrial production
Hang Seng * 20,111.63 -1.20%
data.
* as of 8.25AM IST Economic and Corporate Developments
Currencies / Commodities Snapshot • Buoyed by the success of implementation of PPP
Latest Previous model in airport development, the government plans
Quote Close to invest $30bn in next 10 years with more existing
Indian Rupee per $ 51.44 51.47 airports being opened up for modernisation.
Indian Rupee per € 67.35 67.33 • The government is likely to decide on a proposal to
NYMEX Crude Oil($/bbl) 101.28 101.02 allow foreign carriers to invest in local airlines as early
Gold ($/oz) 1,655.50 1,659.50 as Thursday, a senior government official said, which
could provide a lifeline to cash-starved and debt-laden
Silver ($/oz) 31.54 31.68
carriers such as Kingfisher Airlines.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Southern Petrochemicals Industries Corporation Ltd
Previous Current Change (SPIC) has decided to discontinue the operations of
Company Name its pharmaceutical formulations manufacturing unit
Close(`) Price(`) (%)
Godrej Inds 264.65 280.80 6.10 in Tamil Nadu.
Nestle India 4579.65 4783.25 4.45 • Umesh Revankar has taken over as managing
Uco Bank 78.70 82.05 4.26 director of Shriram Transport Finance Co. The post
Tata Power 100.55 104.40 3.83 was earlier held by R Sridhar, who had been with the
Syndicate Bank 108.10 111.75 3.38 company since 1985 and has risen through the
ranks.
(BSE Mid-Cap)
• The joint venture (JV) agreement to be signed
Previous Current Change between the Orissa government and GAIL for
Company Name
Close(`) Price(`) (%) `5,000Cr natural gas pipeline is set to be finalised
Edelweiss Capital 28.50 31.55 10.70
soon. The 1,500 km pipeline stretching from Surat to
Honeywell Auto 2753.85 2948.55 7.07 Paradip, will cover 400 km in Orissa. In addition to
Godrej Inds 264.65 280.80 6.10 this, the 1,100-km Kakinada-Howrah pipeline which
Infotech Enter 159.90 169.65 6.10 is under construction, is set to cover 434 km in the
Dena Bank 89.90 94.75 5.39 state.
• Aditya Aluminium, a unit of AV Birla group company
TOP LOSERS Hindalco Industries, has lined up `10,000Cr
(BSE A-Group) expansion plan to ramp up capacity of its aluminium
smelter and captive power plant (CPP) proposed at
Previous Current Change
Company Name Jharsuguda in western Orissa.
Close(`) Price(`) (%)
Indraprastha Gas 346.40 229.80 -33.66 • GMR Infrastructure has finalised plans to raise debt
Gujarat Gas 402.75 341.95 -15.10 of `5,400Cr to finance its recently won highway
Gujarat State Pet 76.65 70.90 -7.50
project between Rajasthan and Gujarat.
Shree Cement 3036.00 2920.05 -3.82 • At a time when Coal India Ltd (CIL) is being pushed
Wockhardt 661.30 639.10 -3.36 to sign fuel supply agreements (FSAs) with power
companies, the state-run firm has said it needs at
(BSE Mid-Cap) least 70 project proposals to be cleared in the 12th
Previous Current Change Five-Year Plan period (2012-17) to meet the
Company Name
Close(`) Price(`) (%) demands of customers.
Indraprastha Gas 346.40 229.80 -33.66 US markets
Gujarat Gas 402.75 341.95 -15.10
U.S. stocks reported worst day of the year Tuesday on
Gujarat State Pet 76.65 70.90 -7.50
anxiety leading up to earnings season and as
REI Agro 11.23 10.47 -6.77 government bond yields for Spain and Italy surged.
BEML 608.25 580.70 -4.53
The Dow Jones Industrial Average closed down 213.66
points, or 1.7% to 12,715.93. The Nasdaq Composite
closed down 55.86 points, or 1.8%, at 2,991.22. The
S&P 500 fell 23.61 points, or 1.7%, to close at 1,358.59.
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 / Wednesday Thursday Friday Monday
Regions 11/Apr 12/Apr 13/Apr 16/Apr
India IIP Data Forex Reserves Data Monthly Inflation
Weekly Supplement
of RBI
US Monthly budget Initial Jobless claims Consumer Price Retail Sales
statement Index & Consumer
Price Index Ex Food
& Energy (YoY &
MoM)
Producer price Index Retail Sales & Retail Empire State Index
Sales Ex Autos and Home builders'
(MoM), index
Trade balance Reuters/ Michigan Business Inventories
Consumer
Sentiment Index
Global UK trade balance UK Producer Price
data Index - Input (YoY &
MoM) n.s.a
Germany WPI Data UK Producer Price
Index - Output (YoY
& MoM) n.s.a
European central China Industrial
bank (ECB) monthly Production (YoY),
report GDP (YoY), Retail
Sales (YoY)
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