1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, January 11, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Jan 9 Jan 10 Change (%) • Indian markets rallied 2.2% yesterday to their highest
Sensex 15,814.72 16,165.09 2.22% close in a month, on expectations easing inflation
pressure will pave the way for the central bank to
CNX Nifty 4,742.80 4,849.55 2.25%
begin unwinding tight monetary policy this month.
BSE Mid-cap 5,331.41 5,451.08 2.24%
Moody's upgrade of India's short-term foreign currency
BSE IT 5,881.80 5,916.47 0.59% rating from speculative to investment grade is a
BSE Banks 9,719.29 10,027.62 3.17% development that can help Indian companies to raise
FII Activity (`Cr) funds from overseas markets at lucrative rates, also
led the rally in the markets. The latest upgrade comes
Date Buy Sell Net
less than a month after Moody's had upgraded the
9-Jan 1,789 1,777 12 credit rating of Indian government's bonds from
6-Jan 1,851 1,826 25 speculative to investment grade, a move that was
Total Jan 9,557 8,427 1131 expected to encourage FIIs to increase their exposure
2012 YTD 9,557 8,427 1131 in gilts and help companies raise funds from abroad at
competitive rates. All sectoral indices closed on
MF Activity (`Cr)
positive note with real estate, capital good, bank and
Date Buy Sell Net metal stocks were major gainers. Financials such as
9-Jan 253 220 33 ICICI Bank and State Bank of India and engineering
7-Jan 0 4 -3 and construction conglomerate L&T were among the
Total Jan 2049 2151 -102 gainers in anticipation of a pick-up in business activity.
Utility vehicle and tractor maker Mahindra and
2012 YTD 2,049 2,151 -102
Mahindra rose 5.5% and truck and car producer Tata
Volume & Advances / Declines Motors firmed 2.2% after the auto industry body
NSE BSE forecast commercial vehicle sales to grow 18-20
Trading Volume (Cr) 72.26 26.93 percent in 2011/12. IRB Infrastructure Developers
surged 10.3% after CLSA upgraded the stock to 'buy'
Turnover (`Cr) 11011 2555
from 'outperform' on attractive valuations.
Advances 1,252 2,137
• Market breadth was strong at ~3.18x as investors
Declines 257 671
bought large cap stocks. On provisional basis, FIIs
Unchanged 43 105
bought equities worth `3.24bn while domestic
Total 1,552 2,913 institutions sold equities of `1.15bn.
Global Markets • Asian stocks are up today, following the cues from the
Index Latest Values Change (%) US and European markets and improved Chinese trade
DJIA 12,462.47 0.6%
data.
NASDAQ 2,702.50 1.0% • We expect a positive opening for the Indian markets
tracking the Asian markets. However, investors must
Nikkei * 8,440.99 0.2%
be keeping close eye on the IIP data and results of
Hang Seng * 19,048.62 0.2%
Infosys and HDFC tomorrow.
* as of 8.25AM IST
Economic and Corporate Developments
Currencies / Commodities Snapshot
• Planning Commission said the country's economic
Latest Previous growth in the current fiscal will slip to 7% from 8.5% a
Quote Close
year ago and may not touch 9% in the next financial
Indian Rupee per $ 51.71 52.52 year. "Whether we can go back to 9% very next year
Indian Rupee per € 66.07 66.07 is not likely, but I think we should be targetting in
NYMEX Crude Oil($/bbl) 101.68 102.12 India, to do a lot better than 7%, that we will do this
Gold ($/oz) 1,635.00 1,631.50 year," Planning Commission Deputy Chairman Montek
Singh Ahluwalia said while addressing an automobile
Silver ($/oz) 29.93 29.82
industry event here.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • In a major breakthrough, Novelis Inc, part of
Previous Current Change Hindalco Industries, has renewed its can-body sales
Company Name
Close(`) Price(`) (%) agreement with Coca-Cola Bottlers' Sales & Services
IRB Infra 127.50 140.50 10.20 Company (CCBSS). The two companies also agreed
JSW Steel 572.05 629.25 10.00 to dismiss all pending litigation relating to the
Sintex Inds 62.90 69.00 9.70 previous contractual terms.
Amtek Auto 97.50 106.35 9.08 • Indian Oil Corporation chairman R S Butola has said
Lanco Infra 11.56 12.50 8.13 the company’s profitability would come under
(BSE Mid-Cap) further pressure with interest outgo doubling to Rs
5,000-crore-plus this financial year from `2,600Cr
Previous Current Change last year.
Company Name
Close(`) Price(`) (%)
Anant Raj Inds 43.25 51.90 20.00 • The Bangalore-based GMR group is likely to sign two
Jai Corp 58.85 70.60 19.97 MoUs with the Andhra Pradesh government during
Alfa Laval 2369.70 2710.85 14.40 the Partnership Summit, which begins here on
D B REALTY 54.00 60.55 12.13 Thursday. While one will be for a refinery project
CHOLAFIN 118.95 133.00 11.81
proposed in Kakinada, the other will be for the
development of a Special Economic Zone (SEZ)
TOP LOSERS project. These are expected to be signed during the
summit.
(BSE A-Group)
• Jindal Steel & Power Ltd (JSPL) expects to resume
Previous Current Change work on its ambitious `60,000Cr Coal to Liquid (CTL)
Company Name
Close(`) Price(`) (%)
project next year after receipt of environmental
Gujarat Fluo 398.25 390.50 -1.95
clearance.
Coromandel Intl 285.85 280.30 -1.94
Hindustan Copp 308.15 303.75 -1.43
US markets
Cadila Health 694.55 685.00 -1.37 US stocks rallied Tuesday, following its Asian and
Dish TV India 58.35 57.70 -1.11 European counterparts as bullish outlook of Alcoa Inc
and China's improved trade data helped to counter the
(BSE Mid-Cap) negative headlines from Europe.
Previous Current Change The Dow industrials closed up 69.78 points, or 0.6%, at
Company Name
Close(`) Price(`) (%)
12,462.47 while the S&P 500 gained 11.38 points, or
Sunteck Realty 308.00 257.30 -16.46
0.9%, to 1,292.08, with financials and natural-resource
Shree Global Trd 236.95 213.30 -9.98
companies faring best among its 10 industry groups.
VAARAD 58.55 55.65 -4.95
REI Agro 16.00 15.30 -4.38
The Nasdaq Composite Index gained 25.94 points, or
1%, to 2,702.50.
HMT 46.20 45.00 -2.60
Keynote Capitals Institutional Research (research@keynotecapitals.com) (+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 Monday Tuesday
Regions 11/Jan 12/Jan 16/Jan 17/Jan
India Weekly Inflation Data Inflation Data for the
month of December
2011
IIP Data for the month
of November 2011
US MBA mortgage Retail sales NY Empire State
Applications Manufacturing Index
Beige Book Initial jobless claims
Global Japan Economic Index UK industrial Germany Wholesale UK Consumer Price
production Price Index (MoM) and Index (MoM) and
(YoY) (YoY)
Germany's GDP data UK Manufacturing Japan Consumer UK Retail Price Index
Production Confidence Index (MoM) and (YoY)
UK trade balance ECB and BoE Interest Germany ZEW Survey
data non EU Rate Decision - Economic Sentiment
Eurozone Industrial
Production
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