1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Friday, March 30, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Mar 28 Mar 29 Change (%) • Indian markets fell for their third session and closed on
Sensex 17,121.62 17,058.61 -0.37% negative note yesterday, led by technology
CNX Nifty 5,194.75 5,178.85 -0.31% outsourcing stocks such as Infosys after local media
BSE Mid-cap 6,190.94 6,200.87 0.16% reported that the United States raised the cost of
BSE IT 6,021.39 5,951.18 -1.17% employment visas, sparking worries about the outlook
BSE Banks 11,475.87 11,458.67 -0.15% in a key market for the sector. Indian markets have
FII Activity (`Cr) remained under pressure through the week regarding
the uncertainty behind taxation of foreign investors as
Date Buy Sell Net
a main factor. Volatility was high as traders rolled over
28-Mar 3,253 3,004 249
positions in the futures & options (F&O) segment from
27-Mar 3,022 2,943 79
the near-month March 2012 series to April 2012 series
Total Mar 56,168 47,137 9031
ahead of to the expiry of March 2012 contracts. The
2012 YTD 189,225 143,896 45328 downward movement was mainly led by selling
MF Activity (`Cr) pressure in capital goods, IT, FMCG and bank stocks
Date Buy Sell Net while pharma, consumer durable, auto and metal
28-Mar 446 501 -55 stocks witnessed some buying activities which gave
some support to the markets. Cairn India continued
27-Mar 554 707 -153
with fall with a loss of 1.57% as the proposed 80%
Total Mar 9,646 11,109 -1463
increase in cess on crude petroleum oil produced in
2012 YTD 35,006 40,496 -5490
India could discourage the firm's expansion plan.
Volume & Advances / Declines ONGC rose 1.14% on reports the Petroleum and
NSE BSE Natural Gas Ministry signed production sharing
Trading Volume (Cr) 87.53 24.40 contracts (PSCs) for the newly awarded 16 oil and gas
Turnover (`Cr) 14,690 2,004 blocks under the ninth round of new exploration
Advances 835 1,539 licensing policy (NELP) with the state-run oil
Declines 643 1,270 exploration giant emerging as the biggest winner with
Unchanged 65 105 six blocks. GAIL (India) gained 0.81% as the company
has signed a Gas Transmission Agreement (GTA) with
Total 1,543 2,914
Information Technology Park (ITPL), Bangalore for
Global Markets supply around 60,000 SCMD of natural gas.
Index Latest Values Change (%)
• Market breadth was however strong at ~1.21x as
DJIA 13,145.82 0.15%
investors bought small and mid cap stocks. On
NASDAQ 3,095.36 -0.31%
provisional basis, FIIs sold equity of `13.33bn while
Nikkei * 10,098.98 -0.16%
domestic institutions bought equity of `2.99bn in cash
Hang Seng * 20,466.35 -0.69%
segment.
* as of 8.25AM IST
• Asian markets are mostly down today, as Japanese
Currencies / Commodities Snapshot
industrial data disappointed investors and arrest of
Latest Previous
Hong Kong property tycoons shattered the markets.
Quote Close
Indian Rupee per $ 51.33 51.39 • We expect a negative start for the Indian markets
Indian Rupee per € 68.61 68.36 today following the cues from the Asian markets.
NYMEX Crude Oil($/bbl) 103.53 102.78
Economic and Corporate Developments
Gold ($/oz) 1,662.00 1,652.20
Silver ($/oz) 32.30 31.99 • Japan will provide credit worth `8,303.01Cr for funding
two projects in India.
Keynote Capitals Institutional Research (research@keynotecapitals.net) (+9122-30266000)
Keynote Capitals Institutional Research is also available on
Bloomberg 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 unsubscribe@keynotecapitals.net

2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Tata Motors may invest about `600Cr to develop
Previous Current Change Futuristic Infantry Combat Vehicles (FICV) and set up
Company Name
Close(`) Price(`) (%) a manufacturing plant for rolling out FICVs for the
Ranbaxy Lab 417.75 447.00 7.00 Indian Army.
Adani Enter 284.10 300.85 5.90
• Ashok Leyland has initiated talks with foreign players
Opto Circuits 189.52 199.25 5.13 for technological partnerships to foray into the
Jindal Steel 525.55 548.80 4.42 aerospace business.
Adani Ports 118.15 123.25 4.32
• The draft report of the Comptroller and Auditor
(BSE Mid-Cap) General of India (CAG) on coal allocation has alleged
undue benefits of `15,849Cr to Reliance Power Ltd
Previous Current Change
Company Name (RPL) by way of surplus coal allocation for two of its
Close(`) Price(`) (%)
HT Media 130.05 137.00 5.34 Ultra Mega Power Projects (UMPPs). The report pegs
Ballarpur Inds 22.85 24.05 5.25 benefit to RPL from surplus allocation for the Sasan
Opto Circuits 189.52 199.25 5.13 UMPP at `4,875Cr. Another `10,974Cr “may accrue”
Shree Global Trd 96.10 100.90 4.99 from the Tilaiya UMPP, it says.
S Mobility-$ 65.65 68.90 4.95 • The country’s largest coal producer, Coal India Ltd
(CIL), has turned down a government directive
TOP LOSERS asking it to ensure supply of 80 per cent of the
committed quantity to power companies. After it
(BSE A-Group)
went through the clauses of a draft fuel supply
Previous Current Change agreement (FSA) for the second day, the company’s
Company Name
Close(`) Price(`) (%)
board on Thursday decided to approve the draft
JSW Ispat 12.65 12.11 -4.27
without any commitment on the quantity.
IDBI Bank 104.60 100.55 -3.87
OIL INDIA 493.86 474.90 -3.84
• The promoters and promoter group of Chemplast
Sanmar Limited are planning to buyback shares
Suzlon Energy 26.90 26.15 -2.79
worth `90.60Cr from the public. The company has
Alstom Projects 350.70 340.95 -2.78
said that it has to reorganise and raise equity funds
(BSE Mid-Cap) from the promoters and others to correct the
Previous Current Change situation, and that significant investment were
Company Name required in terms of backward integration.
Close(`) Price(`) (%)
MVL 8.95 8.10 -9.50 • NTPC has frozen expansion of its gas-based projects
KSK Energy 54.35 51.65 -4.97 due to non-availability of the fuel, according to a
VAARAD 32.00 30.45 -4.84 company official. The move comes against the
SREI Infra 26.05 24.80 -4.80 backdrop of the power ministry advising power
India Cements 117.45 111.95 -4.68 producers not to plan any gas-based projects till
2015-16 on account of gas shortage.
US markets
US stocks finished mostly lower Thursday, though the
Dow Jones Industrial Average staged a late-session
turnaround to end higher.
The S&P 500 index fell 2.26 points, or 0.2%, to close at
1,403.28. It has gained 0.4% so far this week and more
than 11% this year. The Nasdaq Composite Index lost
9.60 points, or 0.3%, to 3,095.36, with the losses
denting a weekly rise of 0.9%. Bucking the negative
trend on Thursday, the Dow industrials closed up 19.61
points, or 0.2%, at 13,145.82 after turning higher in
late trading.
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 / Friday Monday Tuesday Wednesday
Regions 30/Mar 2/Apr 3/Apr 4/Apr
India Forex Reserves Data
Trade Deficit - RBI;
External Debt
US Personal Construction Factory Orders ADP Employment
Consumption spending (MoM) Change
Expenditure - Price
Index (Feb) (YoY &
MoM)
Core Personal Total Vehicle Sales ISM Non
Consumption manufacturig data
Expenditure - Price
Index (Feb) (YoY &
MoM)
Personal Income
(Feb, MoM); Chicago
Purchasing
Managers' Index
(Mar)
Global Eurozone Consumer UK & Germany Eurozone's Producer Eurozone ECB Press
Price Index (YoY) Purchasing Manager Price Index (MoM) conference &
Index Manufacturing and (YoY) Interest rate
decision
Construction Orders UK's BRC Shop Price Germany PMI &
(YoY); Housing Index (MoM) factory order data
Starts (YoY)
UK PMI Data
KEYNOTE CAPITALS LTD.
4th Floor, Balmer Lawrie Building, 5, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001. INDIA
Tel. : 9122-2269 4322 / 24 / 25 • www.keynotecapitals.com
Disclaimer: This report is purely for information purpose and is based on public information. News content is attributable to
various media, unless specified otherwise. All market related statistical data pertains to the immediately preceding trading day,
unless stated otherwise. Neither the information nor any opinion expressed in this report constitutes an offer, or an invitation to
make an offer, to buy or sell the securities mentioned herein. We or any of our directors, officers or employees shall not in any
way be responsible for any loss arising from the use of this report. Investors are advised to apply their own judgment before
acting on the contents of this report. The report has not been edited due to time constraints.