>INSIDER TRADING 17-04-09

507852	Addi Industries Ltd.,	Sh. Chaman Lal Jain	15/04/2009	B	1451	0.01	1650818	15.29
532351	Aksh Optifibre Ltd.	Kailash S Choudhari	09/03/2009 - 13/03/2009	B	230000		7751906	13.14
500102	Ballarpur Industries Ltd.,	Bilt Paper Holdings Limited	24/03/2009 - 27/03/2009	B	2230000		209045131	37.63
526839	CCAP Ltd.	Sisir Kumar Saha	02/04/2009	B	600		5200	0.14
532941	Cords Cable Industries Limited	Naveen Sawhney	15/04/2009	B	250189		1810767	15.85
532707	Dynemic Products Ltd.	Palak D. Patel	09/04/2009 - 13/04/2009	S	75950		76605	0.67
505720	Hercules Hoists Ltd.,	Shekhar Bajaj-A/c BEL Emp Welfare Fund I	03/02/2009 - 24/02/2009	B	2076	0.01	2076	0.01
505720	Hercules Hoists Ltd.,	Shekhar Bajaj-A/cBEL Emp Welfare Fund II	03/02/2009 - 24/02/2009	B	1860	0.01	1860	0.01
505720	Hercules Hoists Ltd.,	Shekhar Bajaj-A/cBEL Emp WelfareFund III	03/02/2009 - 24/02/2009	B	2654	0.01	2654	0.01
505720	Hercules Hoists Ltd.,	Shekhar Bajaj-A/c BEL Emp WelfareFund IV	03/02/2009 - 24/02/2009	B	2415	0.01	2415	0.01
532800	IBN18 Broadcast Ltd	FranklinIndiaHighGrowthCo'sFund (FIHGCF)	15/04/2009	B	499300	0.28	1001300	0.56
532800	IBN18 Broadcast Ltd	Franklin India Opportunities Fund -FIOF	15/04/2009	B	167942	0.09	386603	0.22
532800	IBN18 Broadcast Ltd	Franklin India Smaller Co's Fund (FISCF)	15/04/2009	B	89946	0.05	532249	0.30
500202	India Lease Devl. Ltd.,	MGF Services Ltd.	13/04/2009	B	2650	0.02	290883	2.85
514165	Indian Acrylics Ltd	Mr. Dheeraj Garg	15/04/2009 - 16/04/2009	B	150579		787590	0.59
500227	Jindal Poly Films Ltd.	Mr. Rashid Jilani	09/04/2009	S	300		--
500247	Kotak Mahindra Bank Ltd.	Sudhir Khanna	06/04/2009	S	2000		10000
500257	Lupin Ltd	Satish S. Khanna	16/04/2009	S	1350		5000
500257	Lupin Ltd	Nitin B. Vadia	16/04/2009	S	500		8050
500271	Max India Ltd.,	T. Rowe Price New Asia Fund	02/04/2009	B	3360483	1.51	11722321	5.28
532408	Megasoft Ltd.	ICICI Prudential Mutual Fund	26/03/2009	S	100000	0.23	1907323	4.31
532307	Melstar Information Technologies Ltd.	Anthony C. Gale	06/04/2009	S	1089332		--
501343	Motor & General Finance (M.G.F.) Lt	MGF Services Ltd.	--	B	10707	0.05	531729	2.74
532466	Oracle Financial Services Software Limited	Ganesh Ramakrishnan (Revised)	06/04/2009	S	1000		21998
532466	Oracle Financial Services Software Limited	Balasubramanian Chandrasekaran	26/03/2009 - 01/04/2009	S	850		8750
531349	Panacea Biotec Ltd.	First Lucre Partnership Co.	01/04/2009	B	30000	0.04	1805712	2.70
531349	Panacea Biotec Ltd.	First Lucre Partnership Co.	06/04/2009	B	122370	0.18	1928082	2.88
524628	Parker Agro Chem Export Ltd.	Natvar J Acharya	20/06/2008	B	150000		380865
524628	Parker Agro Chem Export Ltd.	Haresh J Acharya	20/06/2008	B	150000		269354
524628	Parker Agro Chem Export Ltd.	Mukesh J Acharya	20/06/2008	B	150000		317931
523523	Rainbow Papers Ltd.,	Nikita Ajay Goenka	16/04/2009	B	190000		336336
530073	Sanghvi Movers Ltd.	Chandrakant P. Sanghvi	02/04/2009	B	6000		630284	1.45

507852	Addi Industries Ltd.,	CHAMAN LAL JAIN	15/04/2009	Acq	1451	0.01	1650818	15.29	*
507852	Addi Industries Ltd.,	CHAMAN LAL JAIN	15/04/2009	Acq	1451	0.01	1650818	15.29	#
526706	Alchemist Limited	HS FII INVESTMENTS LTD	--	Acq	1224457	10.00	--		*
520077	Amtek Auto Ltd	ARVIND DHAM	15/04/2009	Acq	166150	0.12	2390645	1.70	*
520077	Amtek Auto Ltd	ANJALI MALHOTRA	15/04/2009	Sale	106150	0.08	0	0.00	*
520077	Amtek Auto Ltd	AARTI JAIN	15/04/2009	Sale	60000	0.04	0	0.00	*
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	15/04/2009	Acq	47294	0.67	688480	9.77	*
511196	Can Fin Homes Ltd.,	CANARA BANK	16/04/2009	Acq	99242	0.48	8365683	40.84	*
526839	CCAP Ltd.	CHANDRA MUKHERJI & PACS	08/04/2009	Acq	169	0.01	1274679	35.70	#
532548	Century Plyboards (India) Ltd.	BRIJ BHUSHAN AGARWAL.	25/03/2009	Sale	600000	0.27	5574709	2.51	*
532548	Century Plyboards (India) Ltd.	BRIJ BHUSHAN AGARWAL.	26/03/2009	Sale	600000	0.27	4974709	2.24	*
532548	Century Plyboards (India) Ltd.	BRIJ BHUSHAN AGARWAL.	27/03/2009	Sale	450000	0.20	4524709	2.04	*
532548	Century Plyboards (India) Ltd.	BRIJ BHUSHAN AGARWAL.	30/03/2009	Sale	900000	0.41	3624709	1.63	*
532548	Century Plyboards (India) Ltd.	BRIJ BHUSHAN AGARWAL.	31/03/2009	Sale	900000	0.41	2724709	1.22	*
532941	Cords Cable Industries Limited	NAVEEN SAWHNEY	15/04/2009	Acq	250189	2.19	1810767	15.85	#
532848	Delta Corp Limited11	DACAPO BROKERAGE INDIA PVT LTD. & PAC's	08/04/2009	Acq	15719	0.01	75745909	55.89	*
523127	EIH Associated Hotels Ltd.,	JUPITER ASSET MANAGEMENT LTD & PAC's	15/04/2009	Acq	99816	0.51	1068703	5.46	*
532702	Gujarat State Petronet Ltd.	INDIA DEVELOPMENT FUND	02/04/2009	Sale	1665531	0.30	0	0.00	*
500202	India Lease Devl. Ltd.,	MGF SERVICES LTD.	13/04/2009	Acq	2650	0.03	290883	2.85	#
514165	Indian Acrylics Ltd	DHEERAJ GARG	15/04/2009 - 16/04/2009	Acq	150579	0.11	787590	0.59	#
500271	Max India Ltd.,	T ROWE PRICE ASSOCIATES INC & ITS AFFILLIATES	01/04/2009	Acq	5161511	2.32	11130670	5.01	#
500271	Max India Ltd.,	HSBC GLOBAL INV FUNDS (M) LTD & PAC	01/04/2009	Sale	4204126		7193289	3.23	*
500271	Max India Ltd.,	T ROWE PRICE ASSOCIATES INC & ITS AFFILLIATES	01/04/2009	Acq	5161511	2.32	11130670	5.01	*
501343	Motor & General Finance (M.G.F.) Lt	MGF SERVICES LTD.	--	Acq	10707	0.06	531729	2.75	#
532882	Omnitech InfoSolutions Limited	AMISHA HEMANI	09/03/2009 - 18/03/2009	Acq	6650	0.05	995775	7.58	#
532882	Omnitech InfoSolutions Limited	ATUL HEMANI HUF	13/03/2009 - 19/03/2009	Acq	3000	0.02	79313	0.60	#
532882	Omnitech InfoSolutions Limited	AVINASH PITALE	06/03/2009 - 19/03/2009	Acq	10313	0.08	1393201	10.60	#
532882	Omnitech InfoSolutions Limited	SHUBHANGI PITALE	12/03/2009 - 30/03/2009	Acq	13568	0.10	1452406	11.05	#
532882	Omnitech InfoSolutions Limited	ATUL HEMANI	18/03/2009 - 30/03/2009	Acq	15000	0.11	1833261	13.95	#
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	01/04/2009	Acq	30000	0.05	45457057	68.01	#
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	06/04/2009	Acq	122370	0.18	45579427	68.19	#
532460	Ponni Sugars (Erode) Ltd.	M. AMARNATH & PAC's	13/04/2009	Acq	128726	1.50	535129	6.22	#
500370	Salora International Limited	MAYANK CHAURASIA	27/03/2009	Acq	404249	4.59	404249	4.59	*
500370	Salora International Limited	ARPIT CHAURASIA	27/03/2009	Acq	384134	4.36	384134	4.36	*
526137	Shetron Ltd.	GLOBAL TRADE FINANCE LTD. (PLEDGEE)	15/04/2009	Acq	1009523	11.21	1009523	11.21	*

RESEARCH REPORTS

>INSIDER TRADING 16-04-09

531525	Ace Software Exports ltd.	Vikram B Sanghani J/W Sanjay Dhamsania	15/04/2009	B	29478		59962	1.28
532975	AISHWARYA TELECOM LIMITED	G Rama Manohar Reddy	14/04/2009	B	10000		3601201	33.78
506074	Arshiya International Ltd	Jashay J. Mehta	01/04/2009 - 06/04/2009	B	25000		75500	0.13
532382	Balaji Telefilms Ltd.	Shobha Kapoor	13/04/2009	B	10000		9980000	15.30
532382	Balaji Telefilms Ltd.	Shobha Kapoor	02/04/2009	B	22000		9957000	15.27
500077	Cable Corporation of India Ltd.,	JM Morgan Special Situation Mauritius Lt	--	S	412980	2.57	3787020	11.31
532707	Dynemic Products Ltd.	Kirtibhai Patel	13/04/2009	S	22200		34900	0.30
532707	Dynemic Products Ltd.	Bhagvatiben K. Patel	09/04/2009	S	34985		25015	0.22
522074	Elgi Equipments Ltd.,	L. G. Varadarajulu	14/04/2009	B	694520		694620	0.00
504008	EMCO Ltd.,	Reliance Capital Ltd.	09/04/2009	B	1717000	2.91	6292000	10.69
532876	Everonn Systems India Ltd.	Virmac Investments	06/08/2008 - 06/04/2009	S	392686	2.60	839314	5.55
532876	Everonn Systems India Ltd.	Joe Thomas	09/04/2009 - 15/04/2009	S	6000		155865	1.03
524226	Gujarat Ambuja Exports Ltd.	Smt. Shilpa Gupta	13/04/2009	B	5000		1640000	1.18
500257	Lupin Ltd	Udayan S Ambegaokar	01/04/2009	S	100		5550
532307	Melstar Information Technologies Ltd.	S.M. Arora	15/04/2009	S	514121	0.00	0
532307	Melstar Information Technologies Ltd.	Sudha Arora	15/04/2009	S	60750		--
532307	Melstar Information Technologies Ltd.	Seema Arora	15/04/2009	S	112000		--
532307	Melstar Information Technologies Ltd.	Sanjay Arora	15/04/2009	S	131300		--
519560	Neha International Ltd.	G.Vinod Reddy	01/04/2009	B	25000	0.18	5145636	37.38
532882	Omnitech InfoSolutions Limited	Atul Hemani	18/03/2009 - 30/03/2009	B	15000	0.11	1833261	13.95
532882	Omnitech InfoSolutions Limited	Amisha Hemani	09/03/2009 - 18/03/2009	B	6650	0.05	995775	7.57
532882	Omnitech InfoSolutions Limited	Atul Hemani - HUF	13/03/2009 - 19/03/2009	B	3000	0.02	79313	0.60
532882	Omnitech InfoSolutions Limited	Mr. Avinash Pitale	06/03/2009 - 19/03/2009	B	10313	0.07	1393201	10.60
532882	Omnitech InfoSolutions Limited	Shubhangi Pitale	12/03/2009 - 30/03/2009	B	13568	0.10	1457406	11.05
532780	Parsvnath Developers Ltd.	Pradeep Kumar Jain	02/04/2009	B	500000		45734328	24.76
531120	Patel Engineering Ltd	Patel Corporation Pvt Ltd	06/04/2009	B	5000		14244100	23.87
531120	Patel Engineering Ltd	Sonal Patel	09/04/2009	B	12500		253900	0.42
530695	Prime Property Development Corporation Ltd.	Padamshi L. Soni	09/04/2009	B	2500		9231290	46.16
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
531391	Ratnabali Capital Markets ltd.	Mr. Vikash Somani	15/04/2009	B	8149		657649	12.64
532923	Renaissance Jewellery Limited	Mr. Dhiren C Shah	25/03/2009	B	782134		782134	4.09
532923	Renaissance Jewellery Limited	Mr. Bhupen C Shah	25/03/2009	S	391067		782133	4.09
532923	Renaissance Jewellery Limited	Mr. Amit C Shah	25/03/2009	S	391067		782133	4.09
526981	Shri Bajrang Alloys ltd.	Anand Goel	--	B	2500		110500	1.23
526981	Shri Bajrang Alloys ltd.	Anand Goel	13/04/2009	B	10000		130500	1.45
526981	Shri Bajrang Alloys ltd.	Dinesh Goel	13/04/2009	B	5000		69000	0.76
526981	Shri Bajrang Alloys ltd.	Hariram Goel	13/04/2009	B	10000		69500	0.77
526981	Shri Bajrang Alloys ltd.	Rajendra Goel	13/04/2009	B	10000		209900	2.33
513262	Steel Strips & Wheels Ltd	Dheeraj Garg.	13/04/2009	B	1000	0.01	741811	5.68
506146	Visagar Polytex Ltd	Kailash Chhaparwal	01/04/2009	B	123		123	0.01
506146	Visagar Polytex Ltd	Kailash Chapparwal	02/04/2009	S	123		--

500012	Andhra Petrochemicals Ltd.,	JOCIL LTD	06/04/2009	Acq	5484	0.01	405484	0.48	*
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	13/04/2009	Acq	2376	0.04	641186	9.10	*
500029	Autolite (India) Ltd.,	AUTOPAL MARKETING PVT LTD	31/03/2009	Acq	200000	2.12	593400	6.28	*
504008	EMCO Ltd.,	RELIANCE CAPITAL LTD	09/04/2009	Acq	1717000	2.91	6292000	10.69	#
505250	G.G. Dandekar Machine Works Ltd.,	BETTER VALUE HOLDINGS PVT LTD	09/04/2009	Acq	910	0.02	2380255	49.99	#
532957	GOKAK TEXTILES LTD.	STERLING INVESTMENT CORPORATION PVT LTD. & PAC's	09/04/2009	Acq	133199		4296375	66.11	#
532957	GOKAK TEXTILES LTD.	STERLING INVT. CORP. PVT. LTD & PACS	09/04/2009	Acq	133199	2.05	4296375	66.11	*
524226	Gujarat Ambuja Exports Ltd.	SHILPA GUPTA	13/04/2009	Acq	5000		1640000	1.18	#
532307	Melstar Information Technologies Ltd.	S M ARORA & FAMILY	15/04/2009	Sale	818171	5.73	0	0.00	#
512381	Nivedita Mercantile & Financing Ltd	HARGOVIND BAJAJ	15/09/2005	Sale	5800	2.36	200	0.08	#
512381	Nivedita Mercantile & Financing Ltd	VINOD KUMAR BAJAJ	15/09/2005	Sale	7800	3.18	200	0.08	#
512381	Nivedita Mercantile & Financing Ltd	ROHIT POLYTEX LTD	27/09/2008	Sale	10000	4.08	45000	18.37	#
512381	Nivedita Mercantile & Financing Ltd	ROHIT POLYTEX LTD	28/09/2008	Sale	10000	4.08	35000	14.29	#
512381	Nivedita Mercantile & Financing Ltd	BAJAJ EXPORTS PVT LTD	03/10/2008	Sale	11000	4.49	47000	19.18	#
512381	Nivedita Mercantile & Financing Ltd	BAJAJ EXPORTS PVT LTD	06/10/2008	Sale	9500	3.88	37500	15.30	#
512381	Nivedita Mercantile & Financing Ltd	BAJAJ EXPORTS PVT LTD	08/10/2008	Sale	10200	4.16	27300	11.14	#
512381	Nivedita Mercantile & Financing Ltd	BAJAJ EXPORTS PVT LTD	13/10/2008	Sale	10500	4.28	16800	6.86	#
512381	Nivedita Mercantile & Financing Ltd	BAJAJ EXPORTS PVT LTD	16/10/2008	Sale	10200	4.16	6600	2.70	#
512381	Nivedita Mercantile & Financing Ltd	BAJAJ EXPORTS PVT LTD	20/10/2008	Sale	6600	2.70	0	0.00	#
532987	Rane Brake Lining Limited	NISSHINBO INDUSTRIES INC.	13/04/2009	Acq	700000	8.84	1421500	17.96	#
531391	Ratnabali Capital Markets ltd.	JAISHREE SOMANI	15/04/2009	Acq	2051	0.04	429600	8.26	#
513262	Steel Strips & Wheels Ltd	DHEERAJ GARG	13/04/2009	Acq	1000	0.01	741811	5.68	#
513262	Steel Strips & Wheels Ltd	DHEERAJ GARG	13/04/2009	Acq	1000	0.01	741811	5.68	*
531088	Tulip Star Hotels Ltd.	AJIT B KERKAR.	30/03/2009	Acq	11500	0.25	228570	4.97	*

RESEARCH REPORTS