K E Y N O T E INSTITUTIONAL RESEARCHIndia Morning NoteMonday, March 26, 2012Domestic Markets Snapshot Views on markets today Name of Index Mar 22 Mar 23 Change (%) • Indian markets rose about 1% on Friday in low Sensex 17,196.47 17,361.74 0.96% volumes, recovering from steep losses in the previous CNX Nifty 5,228.45 5,278.20 0.95% session, as software service exporters such as Infosys BSE Mid-cap 6,312.62 6,350.92 0.61% gained after global rival Accenture raised its profit outlook for the year. Indian markets lost about 0.6% BSE IT 6,012.12 6,095.08 1.38% on the week, marking their fifth consecutive weekly BSE Banks 11,712.09 11,860.42 1.27% loss, and caution still lingers over how soon the centralFII Activity (`Cr) bank can cut interest rates after the government Date Buy Sell Net announced higher borrowing plans in its 2012/13 21-Mar 3,488 2,836 652 budget last week. Goldman Sachs raised India to 20-Mar 2,121 1,926 196 "marketweight," saying domestic growth will pick up, while stock valuations remain "relatively attractive". Total Mar 40,962 32,495 8467 Indian stocks are still sitting on gains of over 10% for 2012 YTD 174,019 129,254 44764 the year, thanks to about `470bn ($9.2bn) inMF Activity (`Cr) cumulative net purchases by foreign investors, which Date Buy Sell Net is helping underpin sentiment. Except metal and 21-Mar 484 518 -35 consumer durables, all sectoral indices closed on 20-Mar 497 571 -74 positive note with real estate, IT, bank and FMCG stocks were major gainers. Reliance Industries rose Total Mar 7,346 8,448 -1102 1.02% on bargain hunting after Thursday 4.15% fall. 2012 YTD 32,706 37,835 -5129 The government has reportedly approved RILsVolume & Advances / Declines $1.529Bn plan to produce over 10 million standard NSE BSE cubic meters per day of gas from four satellite fields in Trading Volume (Cr) 66.88 23.48 the flagging KG-D6 block. Indian software service exporters rose after Accenture Plc posted better-than- Turnover (`Cr) 11,445 2,372 expected earnings. Infosys Ltd gained 1.6%, while Advances 783 1,470 Tata Consultancy Services Ltd added 1.5%. Declines 684 1,431 • Market breadth was marginally strong at ~1.03x as Unchanged 76 121 investors bought sold large cap stocks. On provisional Total 1,543 3,022 basis, both FIIs and domestic institutions boughtGlobal Markets equities worth `0.1bn and `1.86bn, respectively. Index Latest Values Change (%) • Asian stocks are mixed today, as slowing growth DJIA 13,080.73 0.27% worries pulled down Chinese stocks while exporters NASDAQ 3,067.92 0.15% led gains in the Japanese shares. Nikkei * 10,031.37 0.20% • We expect a flat opening for the Indian markets, Hang Seng * 20,684.30 0.07% tracking the uncertain Asian equities. Further, ahead* as of 8.25AM IST of the F&O expiry the markets may remain volatile.Currencies / Commodities Snapshot Economic and Corporate Developments Latest Previous • An Empowered Group of Ministers (EGoM), headed by Quote Close Finance Minister Pranab Mukherjee, will meet today to Indian Rupee per $ 51.21 51.22 decide on allowing an additional export of up to one Indian Rupee per € 67.86 67.60 million tonnes of sugar in the 2011-12 marketing year. NYMEX Crude Oil($/bbl) 106.66 106.87 • The Finance Ministry and the Reserve Bank of India Gold ($/oz) 1,665.00 1,662.30 are likely to finalise the market borrowing programme Silver ($/oz) 32.20 32.25 for the first half of the next financial year on March 27.Keynote Capitals Institutional Research (email@example.com) (+9122-30266000) Keynote Capitals Institutional Research is also available onBloomberg KNTE <GO>, Thomson One Analytics, Reuters Knowledge, Capital IQ, TheMarkets.com and securities.com Keynote Capitals Institutional Research - winner of “India’s Best IPO Analyst Award 2009” by MCX-Zee Business To unsubscribe from this mailing list, please reply to firstname.lastname@example.org
K E Y N O T E INSTITUTIONAL RESEARCHTOP GAINERS Buzzing Stocks(BSE A-Group) • Karuturi Global is set to seal a joint venture with a Previous Current Change leading sugar producer from India as part of its Company Name Close(`) Price(`) (%) massive expansion in Ethiopia into agri-commodities. Unitech 28.30 30.25 6.89 According to officials from Karuturi, the idea is to GODREJ PROP 619.40 660.60 6.65 develop 5,000 TCD (tonnes crushed per day) which ADANI POWER 64.35 67.95 5.59 will require about 15,000 hectares of sugarcane Dish TV India 55.35 57.90 4.61 plantations and the plant may cost in the range of Cadila Health 718.15 750.85 4.55 about `400Cr.(BSE Mid-Cap) • Maruti Suzuki India has increased the prices of its vehicles by up to `17,000 following the rise in excise Previous Current Change duty in the Budget. The increase in prices will affect Company Name Close(`) Price(`) (%) the companys models ranging from small car M800 Century Tex 327.30 359.05 9.70 to mid-sized sedan SX4. Unitech 28.30 30.25 6.89 GODREJ PROP 619.40 660.60 6.65 • Kingfisher Airlines has agreed to pay only up to MAH HOLIDAY 269.10 285.25 6.00 `10Cr of its `76Cr service tax dues this financial Polaris Fin Tec 160.90 170.15 5.75 year, a top government official said. • Essar Steel has used about three million cubicTOP LOSERS meters water illegally in Chhattisgarh for transporting iron ore slurry from its beneficiation(BSE A-Group) plant to pellet unit in Visakhapatnam. Previous Current Change Company Name • The Indian Oil Corporation Ltd has signed an Close(`) Price(`) (%) Engineers India 265.95 255.40 -3.97 agreement with the Tamil Nadu Industrial Voltas 121.15 116.35 -3.96 Development Corporation (Tidco) for setting up a Indiabulls Fin 240.30 232.10 -3.41 `4,500Cr LNG terminal in Chennai. The initial capacity of the facility will be 5mn tonne per annum Mangalore Ref 64.85 62.70 -3.32 (tpa). Adani Ports 126.35 123.10 -2.57 • ONGCs overseas exploration arm ONGC Videsh Ltd(BSE Mid-Cap) (OVL) will see its first-ever decline in production this Previous Current Change year on account of geopolitical factors in Sudan and Company Name Close(`) Price(`) (%) Syria. In the first three quarters of the current Hotel Leela 33.90 32.05 -5.46 financial year, the companys production dropped Voltas 121.15 116.35 -3.96 over four per cent to 6.76 million tonnes of oil and oil Anant Raj Inds 59.25 57.15 -3.54 equivalent gas against 7.06 million tonnes in the Rajesh Exports 118.40 114.25 -3.51 corresponding period last year. National Fert 79.85 77.10 -3.44 • GAIL India Ltd is evaluating several proposals for equity stakes and long-term supply deals in the United States, Middle East and Southeast Asia. US markets U.S. stocks rose Friday on a round of bargain hunting and a surge in energy shares, curbing what still turned out to be the worst week of the year for two stock benchmarks. The Dow Jones Industrial Average rose 34.59 points, or 0.3%, to 13,080.73. The S&P 500 gained 4.33 points, or 0.3%, to 1,397.11. The Nasdaq Composite rose 4.60 points, or 0.2%, to 3,067.92.Keynote Capitals Institutional Research (email@example.com) (+9122-30266000)
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