1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, February 22, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Feb 17 Feb 21 Change (%) • Indian markets climbed to their highest close in nearly
seven months yesterday as European finance
Sensex 18,289.35 18,428.61 0.76%
ministers approved the terms of a fresh aid package
CNX Nifty 5,564.30 5,607.15 0.77%
for Greece on Tuesday and the country agreed the
BSE Mid-cap 6,544.56 6,604.34 0.91% terms of a deal with its private debt holders. Banking
BSE IT 6,266.87 6,256.53 -0.16% stocks were lenders among the gainers on
BSE Banks 12,736.09 12,838.84 0.81% expectations the central bank will consider easing
FII Activity (`Cr) banks' reserve requirements to help ease tight cash
conditions. Consumer price data released by the
Date Buy Sell Net government yesterday showed inflation pressures are
17-Feb 4,095 3,500 595 moderating, adding weight to views that the central
15-Feb 714 425 289 bank has room to cut interest rates. The markets is up
Total Feb 41,381 29,460 11920 more than 19% this year, mainly on buying by
2012 YTD 94,320 71,318 23001 overseas portfolio investors who have pumped in over
$4.4bn so far, after pulling out more than $500mn in
MF Activity (`Cr) 2011. Except IT, all sectoral indices closed on positive
Date Buy Sell Net note with real estate, consumer durable, oil & gas and
17-Feb 1,291 1,305 -14 power stocks were major gainers. Reliance Industries
16-Feb 673 1,105 -432 (RIL) jumped nearly 3% on buzz of a likely
petrochemicals joint venture announcement by the
Total Feb 9,369 10,714 -1345
company at a news conference. UCO Bank climbed
2012 YTD 19,790 22,990 -3200
3.3% after the state-run lender's board approved issue
Volume & Advances / Declines of shares to Life Insurance Corp of India on a
NSE BSE preferential basis. HCL Infosystems rose more than 2%
after the company won a `2.8bn order from
Trading Volume (Cr) 112.04 38.16
Electronics Corporation of Tamil Nadu. Kingfisher
Turnover (`Cr) 15,880 3,538
Airlines plunged nearly 20% at one stage as the debt-
Advances 904 1,674 crippled carrier edged closer to the brink after mass
Declines 614 1,301 cancellation of flights and the resignation of dozens of
Unchanged 61 112 pilots.
Total 1,579 3,087 • Market breadth was strong at ~1.29x as investors
Global Markets bought large cap stocks. On provisional basis, FIIs
bought equity of `14.01bn while domestic institutions
Index Latest Values Change (%) sold equity of `12.44bn.
DJIA 12,965.69 0.12%
• Asian share markets traded mostly lower amid
NASDAQ 2,948.57 -0.11% concerns over Europe’s Greek aid deal and higher oil
Nikkei * 9,477.59 0.15% prices, although Japanese shares managed to gain,
Hang Seng * 21,362.76 -0.54% helped by a softer yen.
* as of 8.25AM IST • We expect a weak opening for the Indian markets
Currencies / Commodities Snapshot following the cues from the Asian markets.
Latest Previous Economic and Corporate Developments
Quote Close • A surge in production of gold and coal resulted in an
Indian Rupee per $ 49.23 49.11 increase in the value of India's mineral output in
Indian Rupee per € 65.10 65.21 December, 2011, to `17,286Cr from `15,692Cr a
NYMEX Crude Oil($/bbl) 105.88 103.24 month earlier.
Gold ($/oz) 1,754.60 1,757.10 • Inflation based on the all India Consumer Price Index
Silver ($/oz) 34.22 34.43 stood at 7.65% in January, as per the first nationwide
retail inflation data released by the government.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Suzlon Group subsidiary, REpower Systems SE, said
Previous Current Change it has signed a framework contract with Maïa Eolis, a
Company Name
Close(`) Price(`) (%) subsidiary of Maïa Group and GDF Suez, for the
Unitech 31.35 35.50 13.24 supply of up to 250 megawatt (Mw) for onshore wind
Godrej Inds 215.30 240.15 11.54 farms in France and the project is scheduled for
ADANI POWER 85.00 91.80 8.00 delivery between 2012 and 2015.
Jet Air India 328.85 352.30 7.13 • Cadila Pharmaceuticals will market the entire range
Bajaj Finserv 542.90 580.40 6.91 of medical devices of Swedish firm Bactiguard in
(BSE Mid-Cap) India.
• Lanco Infratech is known to be in talks with
Previous Current Change
Company Name international energy majors like AES of United States
Close(`) Price(`) (%)
Unitech 31.35 35.50 13.24 and Gaz de France to sell a part of its power
Godrej Inds 215.30 240.15 11.54 business. The company had recently said it planned
Jai Corp 102.45 114.00 11.27 to sell a minority stake in its power business and
Hindustan Oil 137.05 149.90 9.38 raise $600-$750mn (`2,940-3,675Cr).
Nava Bharat Ven 197.45 215.85 9.32 • In a move to increasingly synergise operations with
subsidiary Ssangyong Motor Company (SMC),
TOP LOSERS homegrown auto major, Mahindra & Mahindra
(M&M), is looking at commencing production and
(BSE A-Group)
sales of its products in Korea.
Previous Current Change
Company Name • Tata Motors will double investments in its Jaguar
Close(`) Price(`) (%)
Indiabulls Fin 236.20 222.75 -5.69 Land Rover brands to pound 1.5 billion a year, even
Apollo Hosp 603.85 580.75 -3.83 as it warned that it will be a challenge to sustain
Sterlite Inds 133.00 128.40 -3.46
high margins at its key profit generator.
Gujarat State Pet 83.45 80.60 -3.42 US markets
Power Finance 220.40 214.05 -2.88 U.S. stocks finished mostly higher Tuesday after
European officials agreed to another round of aid for
(BSE Mid-Cap)
Greece, pushing the Dow industrials briefly above
Previous Current Change 13,000 for the first time since 2008.
Company Name
Close(`) Price(`) (%)
Responsive Inds 111.40 98.85 -11.27 The Dow Jones Industrial Average ended at 12,965.69,
Bajaj Elect 190.80 178.20 -6.60 up 15.82 points, or 0.1%. The S&P 500 Index climbed
Indiabulls Fin 236.20 222.75 -5.69 as high as 1,367.76. The Nasdaq Composite fell 3.21
Phoenix Mills 210.75 198.90 -5.62
points, or 0.1%, to 2,948.57.
Shree Global Trd 167.35 159.00 -4.99
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 22/Feb 23/Feb 24/Feb 27/Feb
India M3 money supply Forex Reserves Data
Weekly Supplement
of RBI
US Existing home sales Jobless claims Reuters/ Michigan Pending Home Sales
data Consumer Sentiment (MoM)
Index
Housing Price Index New Home Sales (Jan)
Global Bank of England UK BBA (British UK GDP (YoY & QoQ) Eurozone M3 Money
minutes bankers association (Q3) Supply (YoY)
)Mortgage Approvals
Eurozone UK Index of Services UK,s Mortgage
Manufacturing and (3M) (Jan) Approvals
service PMI
Eurozone industrial UK Total Business Germany,s Retail
new order Investment (YoY & Sales (MoM)
QoQ) (Q4)
Germany
Manufacturing and
service PMI
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