1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, January 18, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Jan 16 Jan 17 Change (%) • Indian markets rallied yesterday to their highest close
in almost six weeks tracking gains in world markets
Sensex 15,939.36 15,882.64 -0.36% triggered by stronger-than-expected GDP growth in
CNX Nifty 4,765.30 4,749.65 -0.33% China in the fourth quarter of 2011. A wave of positive
BSE Mid-cap 5,256.02 5,264.86 0.17% sentiment caused by easing domestic inflation, strong
BSE IT Q2 December 2011 results from IT major HCL
5,954.12 5,924.92 -0.49%
Technologies and data showing buying of Indian
BSE Banks 9,576.99 9,643.49 0.69% stocks by foreign funds over the past few days also
FII Activity (`Cr) triggered a rally on the domestic markets. Car major
Maruti Suzuki India jumped over 10% on reports that
Date Buy Sell Net
the company has raised prices of most of its vehicle
13-Jan 2,526 2,162 364 models to offset the impact of higher input costs and a
12-Jan 2,527 2,001 526 weak rupee. All sectoral indices closed on positive
Total Jan 20,023 17,100 2923 note with capital goods, metal, real estate and oil &
gas were major gainers. Shares in cash-strapped
2012 YTD 20,023 17,100 2923
airline sector rose ahead of a crucial meeting of a
MF Activity (`Cr) group of ministers in New Delhi to discuss allowing
Date Buy Sell Net
foreign carriers to invest in Indian airlines. Kingfisher
Airlines closed up 4.8%, while rivals SpiceJet and Jet
13-Jan 689 674 15
Airways ended up 10.1% and 10.3% respectively.
12-Jan 522 943 -421 Reliance Communications firmed as much as 5.7%
Total Jan 4261 4818 -557 after the No. 2 mobile operator by subscribers said it
2012 YTD 4,261 4,818 -557 has secured loans from Chinese banks to refinance
$1.18bn worth of foreign currency bonds. Tata
Volume & Advances / Declines Consultancy Services closed down 0.5% after moving
NSE BSE in a tight range ahead of the company's December
quarter results.
Trading Volume (Cr) 75.51 28.41
• Market breadth was strong at ~1.96x as investors
Turnover (`Cr) 12180 2684
bought large cap stocks. FIIs bought equity of
Advances 1,048 1,907 `10.25bn while domestic institutions sold equity of
Declines 441 975 `4.29bn.
Unchanged 70 103 • Asian shares are mixed today, as Chinese shares
Total 1,559 2,985 pared sharp gains made in the previous session and
Japanese shares recovered from early losses.
Global Markets
• We expect a flat opening for the Indian markets today,
Index Latest Values Change (%) as Chinese shares are directionless. Further, we
DJIA 12,482.07 0.48% expect a break to rally, as investors may try to book
NASDAQ 2,728.08 0.64% profits from the markets.
Nikkei * 8,480.89 0.17% Economic and Corporate Developments
Hang Seng * 19,604.62 -0.12% • A new National Steel Policy will be unveiled by the end
* as of 8.25AM IST of FY12, replacing the existing framework announced
in November, 2005, a Steel Ministry official said.
Currencies / Commodities Snapshot
• Accepting a major demand of the cash-strapped
Latest Previous
aviation industry, the government said it would soon
Quote Close
launch the process to allow foreign airlines 49% stake
Indian Rupee per $ 50.71 51.39
in Indian carriers.
Indian Rupee per € 64.78 64.62
• India can return to 9% growth if the government
NYMEX Crude Oil($/bbl) 101.20 100.71 removes uncertainties in policy-making and go for
Gold ($/oz) 1,647.70 1,655.60 early implementation of some of the long pending tax
Silver ($/oz) 29.95 30.11 reforms, a senior World Bank official said.
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) • M&M to ramp up XUV capacity to 3,000 units.
Previous Current Change • Maruti Suzuki raises prices across models.
Company Name
Close(`) Price(`) (%)
Maruti Suzuki 1004.65 1109.95 10.48
• Suzlon Energy Limited (SEL), India's largest and one
Jet Air India 213.15 234.90 10.20
of the leading in the world in the wind turbine
manufacturing space, has signed a memorandum of
HDIL 71.45 76.65 7.28
understanding (MoU) with the Government of Andhra
JUBL FOOD 779.60 832.10 6.73
Pradesh for development of wind power generation
Unitech 24.30 25.80 6.17
capacity in the state totalling to 3,000 megawatt
(BSE Mid-Cap) (Mw) between 2012 and 2016, creating potential
investments of up to `18,000Cr.
Previous Current Change
Company Name
Close(`) Price(`) (%) • Strides Arcolab is looking for buyers for its business
United Bank 52.25 62.60 19.81 in the Japanese market. According to sources,
IL&FS TRANS 164.45 187.40 13.96 Strides has given a mandate to Daiwa Capital to
VST Inds 1107.00 1257.85 13.63 scout for buyers from the East Asian nation. The
Jet Air India 213.15 234.90 10.20 `1,700Cr Strides had earlier appointed US-based
HDIL 71.45 76.65 7.28 Jefferies to identify buyers from all other global
markets, except Japan.
TOP LOSERS • Bharat Petroleum Corp Ltd and Videocon Industries
(BSE A-Group) said the natural gas discovery they made off the
coast of Mozambique may hold 15-30 trillion cubic
Previous Current Change
Company Name feet of in-place gas reserves.
Close(`) Price(`) (%)
Essar Oil 63.05 58.10 -7.85 • FMCG firm Marico is looking at acquisitions worth up
Dish TV India 65.55 62.85 -4.12 to `1,000Cr both in the domestic and overseas
Chambal Fert 81.75 78.50 -3.98 markets as part of its strategy to maintain a growth
MMTC 944.35 913.55 -3.26 of 26-27% in the coming years.
Glenmark Pharm 313.90 303.90 -3.19 US markets
(BSE Mid-Cap) U.S. stocks trimmed gains Tuesday as investors turned
cautious on financial-sector earnings ahead in the wake
Previous Current Change
Company Name of mixed results from Citigroup Inc. and Wells Fargo &
Close(`) Price(`) (%)
HATHWAY CAB 132.80 125.00 -5.87 Co.
Fresenius Kabi 109.70 104.60 -4.65 The Dow Jones Industrial Average advanced 60.01
MVL 19.15 18.35 -4.18 points, or 0.5%, to 12,482.07. The S&P 500 Index
Dish TV India 65.55 62.85 -4.12 climbed 4.58 points, or 0.4%, to 1,293.67. The Nasdaq
Chambal Fert 81.75 78.50 -3.98 Composite added 17.41 points, or 0.6%, to 2,728.08.
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 Friday Monday
Regions 18/Jan 19/Jan 20/Jan 23/Jan
India Weekly Inflation Data Forex Reserves Data
Weekly Supplement
of RBI
US MBA Mortgage Continuing Jobless Existing Home Sales
Applications Claims (MoM)
Consumer Price Index Existing Home Sales
Change
Global UK Umployment rate Eurozone ECB UK Retail Sales (YoY European Monetary
data and Average Monthly Report & MoM) Union - Consumer
Earning per employee Confidence
UK Climant count rate Eurozone Current UK Retail Sales ex- China HSBC Flash
Account s.a Fuel (YoY & MoM) China Manufacturing
Purchasing Managers
Index
Japan All Industry
Activity Index (MoM)
Japan Coincident
Index
Japan Leading
Economic Index
China HSBC
Manufacturing PMI
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.