1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, January 4, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Jan 2 Jan 3 Change (%) • Indian markets rose sharply yesterday and closed on
positive note, riding on a global rally, as investors
Sensex 15,517.92 15,939.36 2.72%
recovered some of their losses over last few days after
CNX Nifty 4,636.75 4,765.30 2.77% Asian equities rose on strong manufacturing data. The
BSE Mid-cap 5,131.60 5,256.02 2.42% markets rallied, after yesterday's positive close for
BSE IT 5,822.49 5,954.12 2.26% European markets provided very strong cues to Asian
markets. European markets closed with sharp gains
BSE Banks 9,178.05 9,576.99 4.35%
Monday, after Germany's manufacturing PMI
FII Activity (`Cr) recovered, though still below important 50 level.
Strong PMI for China also helped the markets to report
Date Buy Sell Net
gains. Most of the Indian shares which declined for last
2-Jan 472 511 -39 few days saw bargain hunting from the investors and
30-Dec 979 1,066 -87 gained sharply. These sectors include capital goods,
Total Jan 472 511 -39 metals, banks and real estate. BNP Paribas forecast
2012 YTD 472 511 -39
the BSE index to trade in a range of 14,000-19,000 in
the coming months and touch 18,500 by the end of
MF Activity (`Cr) 2012, helped by decline in inflation and interest rates
Date Buy Sell Net and "eventual recovery" in some areas of
infrastructure construction. Traders are expecting a
2-Jan 187 242 -55
revival in foreign inflows after the government said on
30-Dec 306 305 1 Sunday it would allow individual foreign investors to
Total Jan 187 242 -55 directly buy stocks from Jan. 15. It was the latest step
2012 YTD 187 242 -55 to liberalize the Asian economy after a year of big
losses in the stock market. Tata Steel Ltd rose 6.1%
Volume & Advances / Declines after Credit Suisse upgraded the world's No. 7
NSE BSE steelmaker to 'neutral' from 'underperform', citing
valuation comfort at current levels. Religare
Trading Volume (Cr) 52.21 18.55
Enterprises ended up 5.2% after the financial services
Turnover (`Cr) 8210 1850 provider said late on Monday private equity firm Jacob
Advances 1,237 2,019 Ballas Ltd would invest `2bn in unit Religare Finvest.
Declines 237 740 • Market breadth was strong at ~2.73x as investors
Unchanged 69 109 bought large cap stocks. Both FIIs and domestic
Total 1,543 2,868
institutions bought equities of `2.55bn and `2.06bn,
respectively.
Global Markets
• Asian markets are mixed today, as the Japanese Nikkei
Index Latest Values Change (%) is strong while the Hang Seng gave up early gains and
DJIA 12,397.38 1.5% trading lower today after investors booked profits.
NASDAQ 2,648.72 1.7% • We expect a positive opening for the Indian markets,
Nikkei * 8,560.53 1.2%
following the strong cues from the US and some of the
Asian markets. However, investors may book profits
Hang Seng * 18,857.11 -0.1% on account of rising uncertainties in the domestic and
* as of 8.25AM IST global economies.
Currencies / Commodities Snapshot Economic and Corporate Developments
Latest Previous • Corporate Affairs Minister Veerappa Moily said the
Quote Close Companies Bill is expected to be cleared in the
Indian Rupee per $ 53.23 53.31 forthcoming Budget Session despite its withdrawl after
Indian Rupee per € 69.45 69.48 being tabled in the winter session.
NYMEX Crude Oil($/bbl) 102.84 102.96 • The government is likely to give green signal to the
Gold ($/oz) 1,601.50 1,600.50 proposal of the Department of Disinvestment (DoD) to
help it raise `40,000Cr through innovative means like
Silver ($/oz) 29.42 29.53
buyback and cross-holding of equities in CPSEs.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
• Adani Power plans to invest Rs 3,000 crore in two
(BSE A-Group) years to add 160 megawatt (Mw) solar power to its
Previous Current Change exisisting capacity. The company, set to commission
Company Name its first 40-Mw solar power plant in Bitta village of
Close(`) Price(`) (%)
MMTC 519.00 619.75 19.41
Kutch district, Gujarat, has plans to expand it to 100
Mw.
Hindustan Copp 187.45 219.70 17.20
• Indian Oil Corporation (IOC) may set up its next
JSW Steel 537.00 588.75 9.64 refinery, a 15 million tonnes per annum (mtpa) unit,
Gujarat Fluo 356.50 388.85 9.07 on the western coast in Gujarat at an investment of
GMR Infra 20.30 22.05 8.62 Rs30,000Cr.
• Diamond Power Infrastructure received its first order
(BSE Mid-Cap) for Extra High Voltage (EHV) Cable.
• JSW Steel has shut down its five-lakh-tonnes-per-year
Previous Current Change
Company Name capacity in the United Kingdom, and shifted the entire
Close(`) Price(`) (%)
machinery to its Vijayanagar steel plant in southern
TV18 Broadcast 28.10 33.70 19.93
India.
Network18 38.70 46.40 19.90
Media • After months of uncertainty, India’s second-largest
Delta Corp 56.20 62.05 10.41 two-wheeler manufacturer, Bajaj Auto Ltd (BAL), on
Tuesday forayed into the four-wheeler segment with
VIP Inds-$ 77.70 85.00 9.40
intra-city passenger carrier RE60.
SREI Infra 24.30 26.55 9.26 • Tata-owned Jaguar Land Rover (JLR) plans to double
the size of its Merseyside factory and create 1,500
TOP LOSERS new jobs in a major boost to the UK coalition
government's drive to rebalance the economy.
(BSE A-Group) • The Delhi High Court today imposed a cost of Rs 2
Previous Current Change lakh on realty major DLF while dismissing its plea
Company Name against market regulator Sebi's order to probe an
Close(`) Price(`) (%)
Redington India 83.00 79.80 -3.86 allegation that it duped a city-based businessman of
Rs 34 crore in collusion with its associate firm Sudipti
Gitanjali Gems 312.45 301.30 -3.57
Estates.
OIL INDIA 1176.70 1139.20 -3.19
• The government approved Reliance Industries' (RIL)
BPCL 479.85 473.75 -1.27 $1.529 billion investment plan for developing four
Mahindra & satellite fields in the flagging KG-D6 block after sitting
673.85 666.50 -1.09
Mahindra
on the proposal for months.
(BSE Mid-Cap) US Markets
Previous Current Change U.S. stocks on Tuesday celebrated the start of a new
Company Name
Close(`) Price(`) (%) trading year with gains of about 1.5% after a gauge of
Shri Ganesh Spi 0.62 0.59 -4.84 U.S. manufacturing hit a six-month high, adding to cheer
Novartis India 651.05 623.65 -4.21
that began with solid data from overseas.
Shriram City Uni 490.00 471.00 -3.88 The Dow Jones Industrial Average ended up 179.82
points, or 1.5%, to 12,397.38. The S&P 500 Index
Redington India 83.00 79.80 -3.86
advanced 19.46 points, or 1.6%, to 1,277.06. The Nasdaq
Gitanjali Gems 312.45 301.30 -3.57 Composite Index climbed 43.57 points, or 1.7%, to
2,648.72.
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 / Tuesday Wednesday Thursday Friday
Regions 3/Jan 4/Jan 5/Jan 6/Jan
India Weekly Inflation Data Forex Reserves Data
Weekly Supplement of
RBI
US ISM Manufacturing Factory order, Vehicle Automatic Data Average Hourly
Index Sales Processing Earnings (YoY & MoM)
Employment change
Construction Continuing Jobless Average weekly Hours
Spending (MoM) Claims
Construction Institute for Supply Nonfarm Payrolls
Spending Data Mangement Non-
Manufacturing
Energy Information Unemployment Rate
Administration
Initial Jobless Claims
Global UK Purchasing Germany Service PMI UK Purchasing Switzerland Consumer
Manager Index Managers Index Price Index (YoY &
Manufacturing services MoM)
Germany UK consumer credit, UK Halifax House European Monetary
Unemployment Construction PMI, M3 Prices (MoM) Union Consumer
Rate money supply and Confidence, Economic
Mortgage Approval data Confidence & Industrial
Confidence
Eurozone Producer European Monetary
price Index (YoY) Union Retail Sales
(YoY & MoM)
Eurozone
Unemployment Rate
Canada
Unemployment Rate &
Net Change in
Employment
Germany Factory
Orders (YoY)
Germany Factory
Orders (MoM)
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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.