>INSIDER TRADING 13-05-09

524348 Aarti Drugs Ltd Jayshree H Shah 19/01/2009 - 15/04/2009 B 15630 64349 0.55 531897 Accentia Technologies Ltd Firstcall India Equity Advisors Pvt Ltd 11/05/2009 S 150000 1.15 139163 1.07 532633 Allsec Technologies Ltd First Carlyle Ventures Mauritius 08/05/2009 B 250000 1.64 4442858 29.16 532828 AMD Industries Ltd Adit Gupta 24/04/2009 B 110 0.00 2400247 12.52 532828 AMD Industries Ltd Harswarup Gupta 23/04/2009 B 15046 0.00 2243847 11.70 590006 Amrutanjan Health Care Ltd S Sambhu Prasad -- B 827 148786 4.65 526433 ASM Technologies Ltd IDS Systems Pvt Ltd 29/01/2009 B 1199 162723 3.23 532995 Avon Corporation Ltd Pankaj Saraiya 17/04/2009 B 20000 6668483 40.22 500039 Banco Products (India) Ltd Samir K Patel 08/05/2009 B 8274 0.00 3778794 5.32 511501 Bharat Bhushan Share & Commodity Brokers Ltd Madhvi Ahuja 26/11/2008 B 10205 32105 0.95 511501 Bharat Bhushan Share & Commodity Brokers Ltd Sandhya Ahuja 15/12/2008 B 10913 30413 20.28 511501 Bharat Bhushan Share & Commodity Brokers Ltd Uday Ahuja 06/11/2008 B 3118 31525 0.93 511501 Bharat Bhushan Share & Commodity Brokers Ltd Vijay Bhushan 02/01/2009 B 8261 685645 20.28 511196 Can Fin Homes Ltd Canara Bank -- B 11455 0.05 8444809 41.22 526839 CCAP Ltd Chirantan Mukherji 12/05/2009 B 10000 0.28 626223 17.54 530871 Chembond Chemicals Ltd Dr Vinod D Shah 06/05/2009 B 1006 0.00 446425 0.00 530871 Chembond Chemicals Ltd Dr Vinod D Shah 06/05/2009 B 500 0.00 446925 0.00 511072 Dewan Housing Finance Corporation Ltd Wadhawan Holdings Pvt Ltd 08/10/2008 - 17/04/2009 B 1218461 2.01 4595229 7.59 523127 EIH Associated Hotels Ltd Jupiter India Fund 15/04/2009 B 99816 0.51 549058 0.00 504000 Elpro International Ltd Mavi Investment Fund Ltd 15/04/2009 B 395000 9.99 395000 524768 Emmessar Biotech & Nutrition Ltd MSR Ayyangar 22/04/2009 B 22100 0.44 69147 1.38 505714 Gabriel India Ltd Reliance Growth Fund 06/04/2009 S 54621 0.07 2287267 3.19 509567 Goa Carbon Ltd Shrinivas V Dempo 05/05/2009 B 498 0.00 139398 1.52 506480 Gulf Oil Corporation Ltd Gulf Oil International (Mauritius) Inc 08/05/2009 B 2455515 3.30 36460415 49.03 500202 India Lease Development Ltd Mgf Services Ltd 12/05/2009 B 1872 0.01 296251 2.90 500209 Infosys Technologies Ltd Rama Bijapurkar 11/05/2009 S 6500 13500 511131 Kamanwala Housing Construction Ltd Sorabh Gupta 24/04/2009 S 30000 200146 1.42 511131 Kamanwala Housing Construction Ltd Sorabh Gupta 27/04/2009 S 16125 184021 1.30 514128 Konark Synthetic Ltd Fillmore Trading & Investment P Ltd 13/04/2009 B 840000 14.36 840000 14.36 514128 Konark Synthetic Ltd Kayo Investment & Fin Pvt Ltd 13/04/2009 B 565500 9.67 856850 14.65 514128 Konark Synthetic Ltd Mrs. Rakadevi Dalmia Jt with Prakashchand Dalmia HUF 13/04/2009 B 1234128 21.10 1234128 21.10 514128 Konark Synthetic Ltd Prakashchand Dalmia HUF 13/04/2009 B 177450 3.03 336600 5.75 514446 Lifestyle Fabrics Ltd Strategybot Finance Pvt Ltd 27/04/2009 B 4112393 74.77 4112393 74.77 507759 Lime Chemicals Ltd Mrs. Shahnaz A Dawoodani 26/11/2008 - 30/12/2008 B 12245 0.00 52541 1.59 507759 Lime Chemicals Ltd Mrs. Shahnaz A Dawoodani 30/03/2009 - 31/03/2009 B 551 0.00 53092 1.60 507759 Lime Chemicals Ltd Shahnaz A Dawoodani 02/04/2009 - 17/04/2009 B 350 0.00 53442 1.60 531241 Linc Pen & Plastics Ltd Divya Jalan -- S 10000 0.12 36900 531241 Linc Pen & Plastics Ltd Rohit Jalan -- B 10000 0.12 35400 500267 Majestic Auto Ltd Hero Cycles Ltd -- S 2100 0.00 2928309 28.16 532819 MindTree Ltd Rostow Ravanan 08/05/2009 S 21500 0.00 404621 1.06 501343 Motor & General Finance Ltd Grosvenor Estates Pvt Ltd -- B 2049 0.01 223293 1.15 526721 Nicco Parks & Resorts Ltd Rajive Kaul 16/04/2009 B 80 191757 4.09 504864 Orissa Sponge Iron & Steel Ltd Bhushan Energy Ltd 04/03/2009 B 130000 0.00 0 0.00 504864 Orissa Sponge Iron & Steel Ltd Bhushan Energy Ltd 04/05/2009 B 100000 0.00 0 0.00 504864 Orissa Sponge Iron & Steel Ltd Bhushan Energy Ltd 05/05/2009 B 107000 0.00 0 0.00 504864 Orissa Sponge Iron & Steel Ltd Bhushan Energy Ltd 06/05/2009 B 103996 0.00 3157996 11.70 531349 Panacea Biotec Ltd First Lucre Partnership Co & PACs 21/04/2009 B 11441 0.02 45640513 68.28 532254 Polaris Software Lab Ltd R Srikanth 11/05/2009 S 95000 0.00 40000 0.00 532254 Polaris Software Lab Ltd R Srikanth 12/05/2009 S 40000 0.00 0 0.00 530695 Prime Property Development Corporation Ltd Minal Finance Pvt Ltd 16/04/2009 B 10300 0.05 1117076 5.59 530695 Prime Property Development Corporation Ltd Minal Finance Pvt Ltd 17/04/2009 B 4400 0.02 1121476 5.60 530695 Prime Property Development Corporation Ltd Minal Finances Pvt Ltd 20/04/2009 B 2000 0.02 1123476 5.62 530695 Prime Property Development Corporation Ltd Minal Finances Pvt Ltd 21/04/2009 B 4868 0.02 1128344 5.63 530695 Prime Property Development Corporation Ltd Minal Finances Pvt Ltd 22/04/2009 B 5450 0.02 1133794 5.66 530695 Prime Property Development Corporation Ltd Padamshi L Soni 06/04/2009 B 890 9228436 46.14 530695 Prime Property Development Corporation Ltd Padamshi L Soni 08/04/2009 B 354 9228790 46.14 524610 Rathi Graphic Technologies Ltd Shark Packaging (I) Pvt Ltd 18/04/2009 B 350000 706800 511754 Shalibhadra Finance Ltd Sheetal M Doshi 16/04/2009 B 748 0.01 1038225 20.75 511754 Shalibhadra Finance Ltd Sheetal M Doshi 17/04/2009 B 75 0.00 1038300 20.75 511754 Shalibhadra Finance Ltd Sheetal M Doshi 27/04/2009 B 54 1038715 20.76 532793 Shree Ashtavinayak Cine Vision Ltd Dhilin H Mehta 22/04/2009 B 2000 0.01 1740800 16.61 512413 Spectacle Industries Ltd Sangita Bansal 20/04/2009 S 20000 512413 Spectacle Industries Ltd Sangita Bansal 24/04/2009 S 17000 75260 0.15 522085 Stone India Ltd G P Goenka 18/03/2009 - 09/04/2009 B 21763 52000 0.68 532667 Suzlon Energy Ltd Rambhaben Ukabhai 13/05/2009 S 30000000 28238000 1.88 532477 Union Bank of India Life Insurance Corporation of India 28/01/2009 - 08/05/2009 B 10266486 2.03 46383677 9.18 531390 Upsurge Investment & Finance Ltd D K Goyal 28/04/2009 B 11099 450000 4.92 532953 V Guard Industries Ltd Kochouseph Chittilappilly 23/04/2009 - 24/04/2009 B 7712 6834058 22.90 532917 Varun Industries Ltd Kailash S Agarwal 15/04/2009 B 50000 0.00 5721880 25.87 532917 Varun Industries Ltd Kiran N Mehta 15/04/2009 B 50000 0.00 8366920 37.84 511147 Wall Street Finance Ltd Patel Holdings Ltd 17/04/2009 B 12750 0.11 1266861 10.90

B - Buy

S - Sale

521070	Alok Industries Ltd	Citigroup Global Mkt (Mauritius) Pvt Ltd	21/04/2009	Acq	30760115	5.07	31471178	5.19	*
521070	Alok Industries Ltd	Cholamandalam DBS Finance Ltd	24/04/2009	Acq	10446690	5.30	24279626	12.33	*
519532	Asian Tea & Exports Ltd	Asian Capital Mkts Ltd & PACs	01/04/2009 - 27/04/2009	Acq	26200	0.31	4187989	49.27	#
526433	ASM Technologies Ltd	IDS Systems Pvt Ltd	29/01/2009	Acq	1199	0.02	162723	3.25	#
532995	Avon Corporation Ltd	Pankaj P Saraiya	17/04/2009	Acq	20000	0.12	6668483	40.22	#
517001	Birla Power Solutions Ltd	Shearson Investment & Trading Co P Ltd	23/04/2009	Acq	600000	1.41	2219800	0.00	*
517001	Birla Power Solutions Ltd	Shearson Investment & Trading Co P Ltd	23/04/2009	Acq	900000	2.12	3119800	0.00	*
511196	Can Fin Homes Ltd	Canara Bank	11/05/2009	Acq	11455	0.05	8444809	41.22	#
511196	Can Fin Homes Ltd	Canara Bank	12/05/2009	Acq	4955	0.02	8449764	41.24	*
511196	Can Fin Homes Ltd	Canara Bank	16/04/2009	Acq	99242	0.48	8365683	40.83	#
526839	CCAP Ltd	Chirantan Mukherji	12/05/2009	Acq	10000	0.28	1305804	36.57	#
531337	Channel Guide India Ltd	Premlata Ramesh Saraogi	01/01/2008	Acq	200000	3.33	312000	5.20	#
531337	Channel Guide India Ltd	Premlata Ramesh Saraogi	13/04/2009	Acq	100000	1.67	412000	6.87	#
530871	Chembond Chemicals Ltd	Dr. Vinod D Shah	06/05/2009	Acq	1006	0.03	446425	14.88	#
530871	Chembond Chemicals Ltd	Dr. Vinod D Shah	06/05/2009	Acq	500	0.02	446925	14.90	#
511072	Dewan Housing Finance Corporation Ltd	Wadhawan Holdings Pvt Ltd	08/10/2008 - 17/04/2009	Acq	1218461	2.01	4595229	7.59	#
503796	Digjam Ltd	Birla Holdings Ltd	28/04/2009	Acq	448028	0.65	1959491	2.85	*
504000	Elpro International Ltd	Mavi Investment Fund Ltd	15/04/2009	Acq	395000	9.99	395000	9.99	#
530023	Fortune Financial Services India Ltd	Jalpa Nimish Shah	17/04/2009	Acq	313	0.00	491516	4.43	#
509567	Goa Carbon Ltd	Shrinivas V Dempo	05/05/2009	Acq	498	0.00	139398	1.52	#
532980	Gokul Refoils & Solvent Ltd	Pacific Corporate Services Ltd	16/04/2009	Sale	3000	0.01	1177113	4.46	#
532980	Gokul Refoils & Solvent Ltd	Pacific Corporate Services Ltd	17/04/2009	Sale	2500	0.01	1174613	4.45	#
506480	Gulf Oil Corporation Ltd	Gulf Oil International (Mauritius) Inc	08/05/2009	Acq	2455515	3.30	36460415	49.03	#
500202	India Lease Development Ltd	Mgf Services Ltd	12/05/2009	Acq	1872	0.01	296251	2.90	#
509709	International Conveyors Ltd	Cresta Fund Ltd	30/03/2009	Acq	115000	3.40	325000	9.63	#
509709	International Conveyors Ltd	Elara India Opportunities Fund Ltd	30/03/2009	Acq	25000	0.74	325000	9.63	#
509709	International Conveyors Ltd	Mavi Investment Fund Ltd	30/03/2009	Acq	115000	3.40	325000	9.63	#
531241	Linc Pen & Plastics Ltd	Divya Jalan	20/04/2009	Sale	10000	0.12	36900	0.46	#
531241	Linc Pen & Plastics Ltd	Rohit Jalan	20/04/2009	Acq	10000	0.12	35400	0.44	#
500267	Majestic Auto Ltd	Hero Cycles Ltd	11/05/2009	Sale	2100	0.02	2928309	28.16	#
500267	Majestic Auto Ltd	Hero Cycles Ltd	12/05/2009	Sale	152	0.00	2928157	28.16	*
504864	Orissa Sponge Iron & Steel Ltd	Bhushan Energy Ltd & PACs	04/03/2009 - 06/05/2009	Acq	440996	1.63	4226586	15.65	#
531349	Panacea Biotec Ltd	First Lucre Partnership Co & PACs	21/04/2009	Acq	11441	0.02	45640513	68.28	#
532606	Parekh Aluminex Ltd	Amitabh Arun Parekh	08/04/2009	Acq	40000	0.31	1226650	9.47	#
523289	Rama Vision Ltd	Aus Finance & Investments Pvt Ltd	21/04/2009	Acq	180000	1.80	1077500	10.75	*
526753	Roselabs Ltd	Shivkumar T Agrawal	13/04/2009	Sale	24100	0.21	601060	5.29	*
526753	Roselabs Ltd	Madhudevi Agrawal	16/04/2009	Sale	80000	0.70	220110	1.94	*
526753	Roselabs Ltd	Madhudevi Agrawal	17/04/2009	Sale	65000	0.57	155110	1.36	#
526753	Roselabs Ltd	Rosydevi Agrawal	21/04/2009	Sale	50000	0.44	552650	4.86	#
526753	Roselabs Ltd	Rosydevi Agrawal	27/04/2009	Sale	90000	0.79	297650	2.62	#
526753	Roselabs Ltd	Rosydevi Agrawal	27/04/2009	Sale	90000	0.79	297650	2.62	*
511754	Shalibhadra Finance Ltd	Sheetal M Doshi	16/04/2009	Acq	748	0.01	1038225	20.75	#
511754	Shalibhadra Finance Ltd	Sheetal M Doshi	16/04/2009	Acq	748	0.01	1038225	20.75	*
511754	Shalibhadra Finance Ltd	Sheetal M Doshi	17/04/2009	Acq	75	0.00	1038300	20.75	#
511754	Shalibhadra Finance Ltd	Sheetal M Doshi	17/04/2009	Acq	75	0.00	1038300	20.75	*
511754	Shalibhadra Finance Ltd	Sheetal M Doshi	27/04/2009	Acq	54	0.00	1038715	20.76	#
511754	Shalibhadra Finance Ltd	Sheetal M Doshi	27/04/2009	Acq	54	0.00	1038715	20.76	*
532793	Shree Ashtavinayak Cine Vision Ltd	Dhilin Mehta	22/04/2009	Acq	2000	0.02	1740800	16.61	*
532833	Sparsh BPO Services Ltd	Kapil Puri	17/07/2008 - 17/02/2009	Acq	325340	2.02	1213577	7.52	#
532667	Suzlon Energy Ltd	Rambhaben Ukabhai	13/05/2009	Sale	30000000	2.00	28238000	1.88	#
532667	Suzlon Energy Ltd	Rambhaben Ukabhai	13/05/2009	Sale	30000000	2.00	28238000	1.89	*
505854	TRF Ltd	Schemes of Sundaram BNP Paribas Mutual Fund	23/04/2009	Acq	547	0.01	275147	5.00	*
504605	Uni Abex Alloy Products Ltd	Firoze A Vakil	16/04/2009	Acq	303	0.02	5967	0.30	#
504605	Uni Abex Alloy Products Ltd	Firoze A Vakil	17/04/2009	Acq	4	0.00	5971	0.30	#
504605	Uni Abex Alloy Products Ltd	Firoze Adi Vakil	17/04/2009	Acq	4	0.00	5971	0.30	*
504605	Uni Abex Alloy Products Ltd	Firoze A Vakil	22/04/2009	Acq	320	0.02	6291	0.32	#
504605	Uni Abex Alloy Products Ltd	Firoze Adi Vakil	22/04/2009	Acq	320	0.02	6291	0.32	*
504605	Uni Abex Alloy Products Ltd	Firoze A Vakil	23/04/2009	Acq	165	0.01	6456	0.33	#
504605	Uni Abex Alloy Products Ltd	Firoze Adi Vakil	23/04/2009	Acq	165	0.01	6456	0.33	*
531390	Upsurge Investment & Finance Ltd	D K Goyal	28/04/2009	Acq	11099	0.12	450000	4.92	#
531390	Upsurge Investment & Finance Ltd	D K Goyal	28/04/2009	Acq	11099	0.12	450000	4.92	*
511147	Wall Street Finance Ltd	Patel Holdings Ltd	17/04/2009	Acq	12750	0.11	1266861		*
511147	Wall Street Finance Ltd	Patel Holdings Ltd	17/04/2009	Acq	12750	0.11	1266861	10.90	#
530665	Zenith Healthcare Ltd	Akshit M Raycha	27/04/2009	Acq	2000	0.00	767986	1.43	#
530665	Zenith Healthcare Ltd	Akshit M Raycha	28/04/2009	Acq	100	0.00	768086	1.43	#

RESEARCH REPORTS