1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, April 02, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Mar 29 Mar 30 Change (%) • Indian markets rallied in the last day of the fourth
quarter to post their first weekly rise in six week after
Sensex 17,058.61 17,404.20 2.03%
Finance Minister Pranab Mukherjee said holders of
CNX Nifty 5,178.85 5,295.55 2.25%
participatory notes, or P-notes, will have no tax liability
BSE Mid-cap 6,200.87 6,346.38 2.35% in India on the investments they make in the local
BSE IT 5,951.18 6,081.87 2.20% equity market. RBI stepped in on Friday to buy up to
BSE Banks 11,458.67 11,751.18 2.55% `100bn ($1.95bn) of bonds through open market
FII Activity (`Cr) operations. RBI has indicated that it will continue to
help in future if liquidity is tight or bond yields run
Date Buy Sell Net away. All sectoral indices closed on positive note with
29-Mar 3,948 5,248 -1299 oil & gas, real estate, metal and bank stocks were
28-Mar 3,253 3,004 249 major gainers. IT stocks edged higher after the US
Total Mar 60,116 52,385 7731 government reportedly clarified that there will be no
2012 YTD 193,173 149,144 44029 hike in fee for H-1B work visa for professionals next
year. Auto stocks were in demand ahead of the
MF Activity (`Cr) announcement of vehicle sales data for March 2012
Date Buy Sell Net starting from this weak. Shares of three state-run oil
29-Mar 641 634 7 marketing companies rose as crude-oil futures ended
28-Mar 446 501 -55 at six-week low on Thursday, falling for a second
straight day, after Saudi Arabia's oil minister said his
Total Mar 10,287 11,742 -1456
country is able to increase supplies to counter higher
2012 YTD 35,647 41,129 -5483
oil prices. Mangalore Refinery and Petrochemicals rose
Volume & Advances / Declines 11.84% after the company said production has
NSE BSE commenced from its Phase-III refinery expansion-cum-
upgradation project. ONGC rose 2.64% on reports the
Trading Volume (Cr) 73.89 31.49
company will sign an initial agreement with US based
Turnover (`Cr) 12,053 3,683
ConocoPhillips on the exploration and development of
Advances 1,163 1,969 shale-gas reserves and deep-water oil and gas blocks.
Declines 343 913
• Market breadth was strong at ~2.16x as investors
Unchanged 48 113 bought large cap stocks. On provisional basis, FIIs
Total 1,554 2,995 bought equity of `9.62bn while domestic institutions
Global Markets sold equity of `1.67bn in cash segment.
• Asian stocks traded mostly higher Monday, with a
Index Latest Values Change (%)
weaker yen helping Japanese stocks to climb, but with
DJIA 13,212.04 0.50%
ongoing losses for property companies weighing on
NASDAQ 3,091.57 -0.12% Hong Kong’s market.
Nikkei * 10,163.59 0.79%
• We expect a positive opening for the Indian markets,
Hang Seng * 20,488.04 -0.33% with easing pressure on the oil and better global
* as of 8.25AM IST environment. Strong auto sales numbers for March
Currencies / Commodities Snapshot would also help the overall stock markets.
Latest Previous Economic and Corporate Developments
Quote Close • State-owned oil companies hiked jet fuel price by
Indian Rupee per $ 50.84 50.87 about 3%, the third time they have increased rates
Indian Rupee per € 67.82 67.87 this month.
NYMEX Crude Oil($/bbl) 103.15 103.02 • State-owned oil companies are projected to lose
Gold ($/oz) 1,668.60 1,669.30 `208,000Cr on selling auto and cooking fuel at
Silver ($/oz) 32.38 32.48 government controlled rates in 2012-13 as losses on
diesel sales touched a record `16.16 per litre.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Oil and Natural Gas Corporation (ONGC) is to shortly
Previous Current Change sell stake in its four coal-bed methane (CBM) blocks
Company Name
Close(`) Price(`) (%) to companies which have bid for this.
Mangalore Ref 60.80 67.90 11.68
• Jindal Steel and Power (JSPL) has advanced the
Bosch 7600.10 8250.60 8.56
commissioning date of the first unit (600 Mw) of the
OIL INDIA 474.90 514.95 8.43 first phase (1,200 Mw) of its power plant expansion
Jain Irrigation 91.15 98.80 8.39 at Tamnar in Chhattisgarh’s Raigarh district to March
JUBL FOOD 1080.35 1168.15 8.13 2013, to take advantage of the 10-year tax holiday it
(BSE Mid-Cap) would then enjoy.
• Parsvnath Developers may soon be able to reduce a
Previous Current Change
Company Name significant chunk of its debt, thanks to certain
Close(`) Price(`) (%)
Fresenius Kabi 136.35 151.90 11.40 corporate giants showing interest in buying a prime
Nava Bharat Ven 196.10 217.80 11.07 piece of property it owns in the national capital. The
TVS Motor 37.15 41.00 10.36 Sahara Group is engaged in discussions with
Jain Irrigation 91.15 98.80 8.39 Parsvnath to buy its commercial land near
JUBL FOOD 1080.35 1168.15 8.13
Connaught Place in New Delhi, according to sources.
ICICI Bank is also among the contenders for the
TOP LOSERS piece of land, it is learnt.
• Passing on the excise duty hike to consumers, Adani
(BSE A-Group)
Gas Ltd. announced a price revision in CNG by 10%
Previous Current Change from April 1, 2012. As against `45.50 per Kg which it
Company Name
Close(`) Price(`) (%)
was charging since November 16, 2011, the
Muthoot Fin 131.95 126.45 -4.17
company has revised CNG prices to `50.20 per Kg
Suzlon Energy 26.15 25.30 -3.25
which is inclusive of 14.42% excise duty and 15%
Coromandel Intl 290.00 285.10 -1.69
VAT with effect from April 1, 2012.
Amtek Auto 134.50 132.25 -1.67
• The Children’s Investment Fund (TCI) today said it
United Brew 549.95 541.15 -1.60
had instructed its Indian lawyers, Luthra & Luthra, to
(BSE Mid-Cap) begin the process of bringing legal action against
Previous Current Change Coal India Limited (CIL) and its directors.
Company Name
Close(`) Price(`) (%) US markets
VAARAD 30.45 28.95 -4.93
U.S. stocks on Friday rose after a better-than-
Muthoot Fin 131.95 126.45 -4.17
anticipated rise in consumer confidence and spending
Suzlon Energy 26.15 25.30 -3.25
boosted views of the economy.
Blue Star 194.10 188.50 -2.89
The Dow Jones Industrial Average rose 66.22 points on
Amtek India 108.30 105.45 -2.63
Friday, or 0.5%, to 13,212. The Nasdaq Composite fell
3.79 points, or 0.1%, to 3,091.57. The S&P 500 climbed
5.19 points, or 0.4%, to 1,408.47.
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 / Monday Tuesday Wednesday Thursday
Regions 2/Apr 3/Apr 4/Apr 5/Apr
India
US Construction Factory Orders ADP Employment
spending (MoM) Change
Total Vehicle Sales ISM Non
manufacturig data
Global UK & Germany Eurozone's Producer Eurozone ECB Press China HSBC Service
Purchasing Manager Price Index (MoM) conference & PMI
Index Manufacturing and (YoY) Interest rate
decision
UK's BRC Shop Price Germany PMI & UK industrial
Index (MoM) factory order data production
UK PMI Data
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