India Morning Note a gFrida June 22, 2012 ay,Dom mestic Mark kets Snapsh hot Views on markets t today Nam of Index me Jun 20 Jun 21 Change (%) ) • India markets edged hig an s gher for th third straight he Sensex 16,896.63 17,032.56 0.80% trading session and attaine seven-we ed eek closing highs CNX Nifty X 5,120.55 5,165.00 0.87% yestterday despite losses in other glob indexes, as oil n bal BSE Mid-cap 5,954.37 6,002.48 0.81% stocks rallied o slumping crude pric on g ces, while o overall senttiment was also bolstered after J.P.Morgan a BSE IT 5,688.53 5,677.50 -0.19% upgrraded dome estic equitie to "over es rweight." Th fall he BSE Banks 11,329.51 11,562.75 2.06% in Brrent to an 1 18-month lo and of U.S. crude fu ow U uturesFII A Activity (`Cr) to an eight-mon low is a big relief fo a net imp n nth or porter Date e Buy Sell Net like India, esp pecially giv ven its blooated fiscal and 20-Jun 1,972 1,720 252 curre account deficits and slowing economic growth. ent t 19-Jun 1,903 1,761 142 • J.P.M Morgan also upgraded its call on Indian eq o n quities Tota Jun al 26,751 26,109 642 from "neutral", citing a n m number of factors inclluding 2012 YTD 309,785 267,204 42580 histo oric valua ations, exp pectations for mon netary stimulus, lower oil prices, and a we r eak rupee. DataMF A Activity (`Cr) showwed resumption of buying of Indian stock by ks Date e Buy Sell Net foreiign institutional invest tors also boosted dom b mestic 20-Jun 536 348 188 investor’s sentimments. 19-Jun 401 413 -12 • Glob markets weakened after the Federal Re bal s d eserve Tota Jun al 6,028 5,468 560 exte ended its bbond-buying programm by less than g me 2012 YTD 59,892 65,799 -5907 some investors had hoped while China posted weak s d,Volu ume & Adva ances / Dec clines facto ory data a and the eeuro zones private s s sector showwed declines. NSE BSE Trad ding Volume (Cr) 56.68 18.23 • Bank shares ro k ose after FFinancial Se ervices Secretary D.K. Mittal said India is v d very well po oised to tac ckle a Turn nover (`Cr) 9,754 1,961 glob economic crisis and played dow concerns over bal c wn s Advances 935 1,658 the health of st tate-run banks. FMCG stocks exte ended Declines 512 1,079 their recent gains triggere by report that sowing of r ed ts Unchanged 81 124 summer crops including rice, oilseeds and cotto has s on Tota al 1,528 2,861 start ted with the monsoon covering half of India early e hGlob Markets bal this week. Inde ex Late Values est Change (%) ) • Markket breadth was strong at ~1.5 h 54x as inve estors DJIA A 12,573.57 -1.96% bougght large c cap stocks. On provis sional basis FIIs s, bougght equity of `2.57bn while dommestic institu utions NAS SDAQ 2,859.09 -2.44% sold equity of `0 0.69bn in ca segmen ash nt. Nikk * kei 8,776.98 -0.53% Hang Seng * 19,080.91 -0.96% • Asia markets dr ropped shar rply, after weak US ma w arkets, as signs of a deepening global economic slow s wdown* as o 8.25AM IST of wipe away investor appet ed tite for risk.Curr rencies / Co ommodities Snapshot s • We expect a w weak opening for the Indian ma e arkets Latest Previous Quote Close todaay, following the cues from the Asian ma s e arkets. Indian Rupee per $ 56.28 56.15 Howwever, falling crude oil p g prices would provide su d upport to th markets. he Indian Rupee per € 71.71 71.32 NYM MEX Crude Oil($/bbl) 78.62 78.20 Econom and Cor mic rporate Dev velopments s Gold ($/oz) d 1,562.00 1,564.60 • Mark regulato SEBI said mutual fun ket or nds can com out me Silve ($/oz) er 26.89 26.84 with pension sc chemes and it is in touch with finance d ministry to sort out the tax xation issues s.Keyn note Capitals Research h (reseaarch@keyno otecapitals.net) (+91222-3026600 00) Keyynote Capita Research is also available on als hBloo omberg KNTE <GO>, Tho E omson One A Analytics, Re euters Knowwledge, Capit IQ, TheMa tal arkets.com and securitie a es.com Keynote Capitals Institu utional Resea arch - winner of “India’s Best IPO Analyst Award 2009” by MCX-Zee Business To unsubsc cribe from th mailing lis please reply to unsub his st, bscribe@keyynotecapitals s.net
TOP GAINERS Buzzin Stocks ng(BSE A-Group) E • The Competitio Commiss on sion of India (CCI) has f fined Previous Currennt Change 11 Indian cement companies a total of `63bn in a Com mpany Name e Close(` `) Price(` `) (%) price collusion investigatio the gove on, ernment said in HDIL L 73.20 0 79.30 8.33 a statement on Thursday. UltraTech Cement , pa of n C art JPINFRATEC 45.95 5 49.25 7.18 the diversified Aditya Birla Group, Ho a olcim -contro olled Essa Oil ar 53.80 0 56.70 5.39 ACC and Ambu Cement , India Ce C uja t ements and the Petrronet LNG 129.65 5 136.25 5.09 Indian unit of Frances La afarge SA are among the Indiaabulls Real 55.20 0 57.90 4.89 com mpanies penalised. Est(BSE Mid-Cap) E • A ye our strife at Maruti Su ear after th first labo he uzuki Previous Currennt Change India Limited (M MSIL)’s Manesar facility the car maker y, Com mpany Name e Close(` `) Price(` `) (%) is set to face prosecut s tion procee edings by the Tulip Telecom p 100.50 111.35 10.80 Haryyana gover rnment’s laabour department for not HDIL L 73.20 79.30 8.33 adhering to the agreement signed with worker at w rs Schn neider Elec 72.90 78.50 7.68 the unit. JPINFRATEC 45.95 49.25 7.18 • Tata Motors de a keep the po of Managing ecided to k ost Hind dustan Oil 123.30 131.40 6.57 Dire ector vacant after incuumbent Pra akash M Te elang retir red after bbeing at th helm fo three ye he or ears.TOP LOSERS Instead, India as largest vehicle manufact t turer(BSE A-Group) E appointed two Executive D Directors -- Ravi Pishar rody, the current president of the comm f mercial vehicle Previous Currennt Change Com mpany Name e busiiness unit ( (CVBU) and Satish Bor d rwankar, Seenior Close(` `) Price(` `) (%) IOB 89.15 5 85.10 0 -4.54 Vice e-President (Manufacturing Operations O – RIL 737.60 0 718.60 0 -2.58 Commmercial Veehicles Busin ness Unit). JUBL FOOD L 1212.40 0 1182.70 0 -2.45 • Masstek’s US subsidiary M MajescoMast tek said it had Nest India tle 4587.00 0 4478.05 5 -2.38 sign ned a mult ti-year licence, impleementation and Amb buja Cements s 175.45 5 171.60 0 -2.19 maintenance engagement for its STG Billing solu t G ution with a Fortune-100 insura h ance and finnancial servvices(BSE Mid-Cap) E commpany. The initial value of the con e ntract is $30mn Previous Currennt Change (aro ound `170Cr). As a part of this co ontract, Maastek Com mpany Name e Close(` `) Price(` `) (%) will modernise the compa any’s enterp prise billing and Sunt teck Realty 371.90 349.50 -6.02 payments platf form across all the lines of insura s ance Allca argo Logistics s 137.25 130.15 -5.17 and financial pr roducts. IOB 89.15 85.10 -4.54 Blue Dart e 1983.00 1919.00 -3.23 US markets Shre Global Trd ee d 82.10 79.55 -3.11 ocks tumble as prices for key commodities fell US sto ed, s sharply after s y, signals of a global slowdown in n manufaacturing addded to disappointing housing and g labour market dat ta.Keyn note Capitals Research h (resea arch@keyno otecapitals.net) (+912 22-3026600 00)
India and Globa Economic Calendar a al c Countries / Fri iday Mo onday Tu uesday We ednesday Reg gions 22-Jun 25 5-Jun 26-Jun 2 27-Jun Ind dia Forex Reserves Data Money Supply Bank Loan Growth n US American Petroleum New Hom sales me S&P/Cas se-Shiller Durable Goods order e Institute M Monthly Home Pr rice Indices Report (YoY) Consumer nce Confiden Glo obal Euro Zone EcoFin e Germany Consumer y UKs Pub Sector blic German CPI Data ny Meeting & EU Confidence Net Borr rowing Leaders sp pecial summit China CB Leading Germany Retail y Japans Economic Index Sales manufa acturing PMI & (May) retail tr rade data Germany IFO - UK Housing prices Business C Climate (Jun); IFO - Current Assessme (Jun) & ent IFO - Expe ectations (Jun) KEYN NOTE CAPITTALS LTD. The Rub 9th Floo Senapati Bapat Marg, Dadar (W), Mumba – 400 028 by, or, ai 8 Tel. : +9 9122-30266 6000 • www w.keynotec capitals.com mDisclaiimer: This re eport is purely for informa ation purpose and is bassed on public information News cont c n. tent is attribu utable tovarious media, unle specified otherwise. A market related statistic data perta ess All cal ains to the im mmediately preceding trad ding day,unless stated other s rwise. Neithe the informa er ation nor any opinion expressed in this report constitutes an off y s fer, or an invitation tomake an offer, to bbuy or sell the securities m mentioned he erein. We or any of our directors, offic cers or emplo oyees shall not in anyway be responsible for any loss arising from the use of this report. Investors are advised to apply their own judgmen before e e s m e o ntacting on the conteents of this re eport. The rep port has not been edited due to time c d constraints.