>INSIDER TRADING 21-01-2009

532056 Adinath Exim Resources Ltd. Mr. Manoj Savla (HUF) 31/10/2008 B 700 700 0.01 532799 Akruti City Ltd. Mahipatray V. Shah - HUF. 15/01/2009 S 400000 0.59 8835000 13.24 532828 AMD Industries Ltd Harswarup Gupta. 15/01/2009 B 23434 2020601 10.54 532828 AMD Industries Ltd Harswarup Gupta 20/01/2009 B 1900 2023886 10.55 531881 Arvind Chemicals ltd. Ruchika Tradelink Pvt Ltd & Others. 12/01/2009 - 13/01/2009 B 189073 0.00 6044185 30.52 522261 Dolphin Offshore Enterprises (India) ltd. Dolphin Offshore Projects Ltd 19/01/2009 - 20/01/2009 B 5851 0.06 1733380 18.12 500134 Essar Oil Ltd. Teletech Investments (India) Ltd. 16/01/2009 B 67000000 5.58 95640916 7.96 500134 Essar Oil Ltd. Essar Investments Ltd. 16/01/2009 S 67000000 5.58 11515221 0.96 526227 Filatex India Ltd. Nouvelle Securities Pvt Ltd 16/01/2009 - 19/01/2009 B 1076 0.01 357947 2.09 532754 GMR Infrastructure Limited GMR Holdings Pvt Ltd. 13/01/2009 B 217000 0.01 1349428710 74.11 502901 Jam Shri Ranjitsinghji Spg.& Wvg.Mi Navratan Damani. 16/01/2009 B 1 259168 7.40 513269 Man Industries (India) Ltd Nikhil Mansukhani 12/01/2009 B 2420 792176 1.48 513269 Man Industries (India) Ltd Nikhil Mansukhani 13/01/2009 B 3497 795673 1.49 513269 Man Industries (India) Ltd Nikhil Mansukhani 14/01/2009 B 267 795940 1.49 513269 Man Industries (India) Ltd Nikhil Mansukhani 15/01/2009 B 8597 804537 1.50 532907 Maytas Infra Limited SICOM Ltd. -- B 4102565 6.97 4102565 6.97 532907 Maytas Infra Limited IFCI Ltd. -- B 10250000 17.42 10250000 17.42 532907 Maytas Infra Limited B. Rama Raju (Sr.) -- S 1582565 2.69 3560535 6.05 532907 Maytas Infra Limited Fincity Investments Pvt. Ltd. -- S 5000000 8.50 250000 0.42 532907 Maytas Infra Limited Elem Investments Pvt. Ltd. -- S 5250000 8.92 -- 531146 Medicamen Biotech Ltd. Sh. Ashutosh Gupta. 26/11/2008 - 13/01/2009 B 27946 262523 3.39 532865 Meghmani Organics Ltd. Kaushal A Soparkar. -- B 8300 -- 532865 Meghmani Organics Ltd. Sandhya Maulik Patel. -- B 41215 -- 532921 Mundra Port and Special Economic Zone Limited Malay Ramesh Mahadevia. 13/01/2009 S 18000 176893 0.04 532921 Mundra Port and Special Economic Zone Limited Malay Rameshchandra Mahadevia HUF. 16/01/2009 S 25096 14904 0.00 523391 Nahar Investment and Holding Ltd Dinesh Oswal. 13/01/2009 B 18609 105273 0.43 523391 Nahar Investment and Holding Ltd Dinesh Oswal. 10/01/2009 B 5114 86664 0.35 530695 Prime Property Development Corporation Ltd. Padamshi L. Soni. 15/01/2009 B 2330 8994771 44.97 530695 Prime Property Development Corporation Ltd. Padamshi L. Soni. 16/01/2009 B 2860 8997631 44.99 532647 Provogue (India) Ltd. OTC Fund 13/01/2009 S 749100 0.73 3607942 3.53 526753 Roselabs Ltd Singhal Overseas Ltd -- S 100000 1135933 9.99 526496 Rubber Products Ltd. Sucharita Ramkrishna Hegde. 14/01/2009 B 26024 173785 4.25 511754 Shalibhadra Finance Ltd. Mrs. Sheetal M Doshi. 16/01/2009 B 1 1033985 20.66 532643 Shree Ganesh Forgings Ltd. Namha Deepak Sekhri. -- B 20000 840217 6.72 500148 Uflex Limited Anant Overseas Pvt Ltd. 19/01/2009 - 20/01/2009 B 914 27754744 526879 UT Ltd. Smt. Vandana Khaitan. 09/01/2009 - 12/01/2009 B 5000 173790 2.85

B - Buy

S - Sale

RESEARCH REPORTS

>INSIDER TRADING 20-01-2009

523377 Apar Industries Ltd Dr. N. D. Desai. 12/01/2009 B 14616 6472486 20.01 523377 Apar Industries Ltd Shri. Kushal N. Desai. 12/01/2009 B 15000 6424729 19.86 523377 Apar Industries Ltd Shri. C. N. Desai. 12/01/2009 B 10983 6340932 19.60 532548 Century Plyboards (India) Ltd. Brij Bhushan Agarwal 14/01/2009 S 79500 0.04 8035159 530871 Chembond Chemicals Ltd. Visan Holdings & Financial Ser Pvt Ltd. 14/01/2009 B 901 129152 512018 CNI Research Ltd Shreenath Finstock Pvt Ltd. 15/01/2009 - 16/01/2009 B 92706 0.30 3393357 11.09 523890 D.S.Kulkarni Developers Ltd Hemanti D. Kulkarni. 15/01/2009 B 818107 3.17 4773130 18.50 523890 D.S.Kulkarni Developers Ltd Anuradha Ramchandra Purandare. 15/01/2009 S 352636 1.37 215 0.00 522261 Dolphin Offshore Enterprises (India) ltd. Dolphin Offshore Projects Ltd 15/01/2009 B 2172 0.02 1724438 18.03 522261 Dolphin Offshore Enterprises (India) ltd. Dolphin Offshore Projects Ltd 16/01/2009 B 3091 0.03 1727529 18.06 532322 Elder Pharmaceuticals Ltd Semit Pharmaceuticals & Chemicals P Ltd. 26/12/2008 - 13/01/2009 B 197 1811136 9.60 532768 FIEM INDUSTRIES LIMITED Seema Jain 19/01/2009 B 51050 1521866 12.72 532296 Glenmark Pharmaceuticals ltd Mrs. Cherylann Maria Pinto. 12/01/2009 B 2000 675300 0.27 532015 Gravity (India) Ltd. Smt. Dakshaben R. Thakkar. 12/01/2009 B 15000 0.17 70524 0.78 532976 Jai Balaji Industries Limited Jai Salasar Balaji Industries Pvt Ltd. 15/01/2009 B 25000 0.05 2164152 4.60 532741 Kamdhenu Ispat Limited Kamdhenu Overseas Ltd. 14/01/2009 B 17145 0.09 2280499 12.00 531882 Kwality Dairy (India) Ltd. Mr.Gulshan Kumar 07/01/2009 S 15000 4975000 27.34 513269 Man Industries (India) Ltd Nikhil Mansukhani 16/01/2009 B 6861 811398 1.52 517140 Moser-Baer (India) Ltd., HSBC Global Investment Funds (M) Ltd. 31/12/2008 B 250000 0.14 8664000 5.14 500302 Piramal Healthcare Ltd Vijay Sathye. 14/01/2009 B 3250 53640 0.02 516003 Sarda Plywood Industries Ltd., Cuckoo Fiscal Services Ltd. 16/01/2009 B 440000 10.78 440000 10.78 524542 Sukhjit Starch & Chemicals Ltd. Shri I K Sardana 12/01/2009 - 14/01/2009 B 3361 363956 4.93 524542 Sukhjit Starch & Chemicals Ltd. K K Sardana 13/01/2009 B 10 377149 5.11 533033 The Saraswati Industrial Syndicate Limited Mr. Aditya Puri. 14/01/2009 B 6058 428258 5.81 511147 Wall Street Finance Ltd. Mr. Areef A. Patel. 15/01/2009 B 15000 0.13 140800 1.21 511147 Wall Street Finance Ltd. Mr. Areef A. Patel. 16/01/2009 B 9200 0.08 150000 1.29 507817 Wires & Fabriks (SA) Ltd., W & F Securities Pvt Ltd. 15/01/2009 B 13750 0.45 1559606 51.03 507817 Wires & Fabriks (SA) Ltd., W & F Securities Pvt Ltd. 16/01/2009 B 8300 0.27 1567906 51.30

B - Buy

S - Sale

RESEARCH REPORTS