1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, May 14, 2012
Domestic Markets Snapshot Views on markets today
Name of Index May 10 May 11 Change (%) • Indian markets dropped on Friday, recording 6th fall in
last 8 trading sessions, as industrial production data
Sensex 16,420.05 16,292.98 -0.77%
disappointed investors and a bit of recovery in the
CNX Nifty 4,965.70 4,928.90 -0.74%
afternoon session wiped out after European markets
BSE Mid-cap 5,998.32 5,948.71 -0.83% tumbled on weak Chinese data. The markets opened
BSE IT 5,540.27 5,481.94 -1.05% weak after Asian markets tumbled on weak Chinese
BSE Banks 10,833.81 10,835.66 0.02% economic data. China's industrial production and retail
FII Activity (`Cr) sales reported below expectations growth in April. The
markets tumbled sharply, after the government
Date Buy Sell Net announced industrial production data which reported a
10-May 1,933 1,591 342 negative growth of 3.5%, led by decline of 4.1% in
9-May 2,211 2,569 -357 manufacturing growth in March 2012. The production
Total May 16,351 16,480 -130 number was negative mainly on account of higher
2012 YTD 252,729 209,398 43332 base effect, which provided some support to index and
it started rising afterwards. Except auto and bank, all
MF Activity (`Cr) sectoral indices closed on negative note with pharma,
Date Buy Sell Net power, FMCG and metal stocks were major losers.
7-May 622 596 26 Pharma stocks fall after Reuters reported that the
4-May 472 675 -204 government announced an inquiry on Friday into the
operations of the country's main drug regulator, just
Total May 1,798 2,272 -474
days after a parliamentary report exposed dysfunction
2012 YTD 46,792 53,366 -6574
within the agency and alleged serious irregularities in
Volume & Advances / Declines the drug approval process. JSW Steel fell 5.1% after
NSE BSE India's top court had ordered the police agency to
probe its alleged involvement with two other
Trading Volume (Cr) 62.51 19.13
companies in illegal iron ore mining in the southern
Turnover (`Cr) 9,264 1,924
state of Karnataka. SKS Microfinance ended 10.4%
Advances 445 981 higher after the cabinet approved a bill to bring
Declines 1,030 1,772 microlenders under the central bank's oversight and
Unchanged 72 118 away from more stringent state government rules.
Total 1,547 2,871 • Market breadth was lower at ~0.55x as investors sold
Global Markets large cap stocks. On provisional basis, FIIs bought
equity of `1.58bn while domestic institutions sold
Index Latest Values Change (%) equity of `2.43bn in cash segment.
DJIA 12,820.60 -0.27%
• Asian markets declined with weak global currencies
NASDAQ 2,933.82 0.01% and concerns over weakening China.
Nikkei * 8,952.66 -0.01%
• We expect a weak opening for the Indian markets
Hang Seng * 19,951.45 -0.07% today, following the cues from the Asian markets. The
* as of 8.25AM IST markets may remain volatile ahead of the monthly
Currencies / Commodities Snapshot inflation data.
Latest Previous Economic and Corporate Developments
Quote Close • Industrial production contracted 3.5% in March,
Indian Rupee per $ 53.63 53.25 dragging the cumulative factory output growth last
Indian Rupee per € 69.30 68.86 fiscal closer to the level of global financial crisis period
NYMEX Crude Oil($/bbl) 95.42 96.13 of 2008-09. This indicated that economic expansion
Gold ($/oz) 1,582.00 1,584.00 has really slowed down and it may not be possible for
India to really grow its GDP by 6.9% during 2011-12 as
Silver ($/oz) 28.78 28.87
was calculated in advance estimates.
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) • Lupin is expected to soon launch its generic version
Previous Current Change of the anti-HIV drug, Combivir, in the United States.
Company Name
Close(`) Price(`) (%) The move was likely to lend a significant upside to
Manappuram 20.15 23.05 14.39 the Mumbai-based company’s bottom line in the
Finance
JUBL FOOD 1050.90 1131.45 7.66 forthcoming quarters, a source said.
Muthoot Fin 123.80 129.40 4.52 • Central Bank of India will be requiring over
Jaiprakash Asso 60.40 62.85 4.06 `14,000Cr of fresh capital to meet the Basel-III
Bajaj Auto 1502.90 1555.20 3.48 guidelines which will kick in from next fiscal.
(BSE Mid-Cap) • Ansal SEZ Projects has approached the government
seeking to surrender its special economic zone in
Previous Current Change
Company Name Gurgaon after the imposition of minimum alternate
Close(`) Price(`) (%)
Manappuram 20.15 23.05 14.39 tax and global economic uncertainties.
Finance
JUBL FOOD 1050.90 1131.45 7.66 • Jaguar Land Rover (JLR) will invest an additional one
S Mobility-$ 61.65 65.00 5.43 billion pound (over `8,500Cr) in sourcing parts from
Muthoot Fin 123.80 129.40 4.52 the UK-based suppliers for its latest sports utility
Bajaj Corp 117.75 123.00 4.46 vehicle Range Rover Evoque over the next four
years.
TOP LOSERS US markets
(BSE A-Group) U.S. markets mostly dropped Friday to a second weekly
Previous Current Change decline after a rise in consumer sentiment failed to
Company Name
Close(`) Price(`) (%) outweigh J.P. Morgan Chase & Co.'s $2bn trading loss,
IRB Infra 121.45 105.20 -13.38 disclosed by the bank late Thursday.
Indian Bank 196.30 179.65 -8.48 The Dow Jones Industrial Average fell 34.44 points, or
TTK Prestige 3070.25 2886.55 -5.98 0.3%, to 12,820.60. The S&P 500 retreated 4.6 points,
JSW Steel 661.40 627.05 -5.19 or 0.3%, to 1,353.39. The Nasdaq Composite managed
Bharat Forge 337.75 321.00 -4.96 a fractional gain to close at 2,933.82.
(BSE Mid-Cap)
Previous Current Change
Company Name
Close(`) Price(`) (%)
IRB Infra 121.45 105.20 -13.38
India Cements 84.30 79.25 -5.99
TTK Prestige 3070.25 2886.55 -5.98
Hindustan Oil 109.30 103.05 -5.72
JSW Ispat 11.03 10.40 -5.71
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 / Monday Tuesday Wednesday Thursday
Regions 14/May 15/May 16/May 17/May
India Monthly WPI based M3 Money Supply
inflation data
US Retail Sales (MoM) Housing Starts Initial Jobless
(MoM) Claims
Retail Sales ex Autos Industrial Leading Indicators
(MoM) Production (MoM) (MoM)
Business Inventories FOMC Minutes
Global Germany's Gross UK's Average Japan Industrial
Domestic Product Earnings including production
n.s.a (YoY) Bonus (3Mo/Yr)
Germany's Gross Eurozone's
Domestic Product Consumer Price
s.a (QoQ) Index (YoY) and
(MoM)
UK's Bank of
England Quarterly
Inflation Report
KEYNOTE CAPITALS LTD.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028
Tel. : +9122-30266000 • 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.