>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

>INSIDER TRADING 15-04-09

507852	Addi Industries Ltd.,	Chaman Lal Jain	13/04/2009	B	233901	0.00	1649367	15.27
531400	Almondz Global Securities Limited	Almondz Cap& Mgt Services Ltd	08/04/2009	S	2400		11985605	47.33
531400	Almondz Global Securities Limited	Almondz Cap & Mgt Services Ltd	06/04/2009	B	760		11988005	47.34
526433	ASM Technologies Ltd.	IDS Systems Pvt Ltd	26/03/2009 - 30/03/2009	B	3087		1615624	3.22
532797	AUTOLINE INDUSTRIES LTD.	Duke Advisors Pvt Ltd.	31/03/2009	S	80000	0.65	1518261	12.43
532797	AUTOLINE INDUSTRIES LTD.	Duke Advisors Pvt Ltd.	01/04/2009	S	20000		1498261	12.27
532797	AUTOLINE INDUSTRIES LTD.	Duke Advisors Pvt Ltd.	08/04/2009	S	2276		1495985
532797	AUTOLINE INDUSTRIES LTD.	Duke Advisors Pvt. Ltd.	31/03/2009	S	9139	0.07	--
530999	Balaji Amines Ltd.	A Prathap Reddy	25/03/2009 - 26/03/2009	B	2207		745746	11.51
532382	Balaji Telefilms Ltd.	Shobha Kapoor	06/04/2009	B	4000		9961000	15.28
532382	Balaji Telefilms Ltd.	Shobha Kapoor	08/04/2009 - 09/04/2009	B	9000		9970000	15.29
531937	Beckons Industries Ltd.	Gurmeet Singh	09/04/2009	B	118600		1294160	4.80
532813	C & C Constructions Ltd.	Charanbir Singh Sethi	31/03/2009	B	40017		2282196	12.49
532813	C & C Constructions Ltd.	Sanjay Gupta	30/03/2009	B	15000		47138	0.25
526839	CCAP Ltd.	Chitranjan Mukherjee	02/04/2009	B	5000	0.14	608113	17.03
526839	CCAP Ltd.	Chandra Mukherji	06/04/2009	B	1500	0.04	206652	5.79
526550	Country Club (India) Ltd.	Goldman Sachs Investments (M) I Ltd.	03/04/2009	B	5100000	6.59	6424250	8.30
500093	Crompton Greaves Ltd.,	HDFC Multiple Yield Fund - 2005 Plan	18/06/2008 - 09/03/2009	S	14000		--
500093	Crompton Greaves Ltd.,	HDFC Top 200 Fund	05/12/2007 - 13/12/2007	S	540000	0.14	3980983	1.08
500093	Crompton Greaves Ltd.,	HDFC Multiple Yield Fund -2005 Plan	22/01/2008	B	14000		--
500093	Crompton Greaves Ltd.,	HDFC Multiple Yield Fund	02/01/2008	B	27000		27000
500093	Crompton Greaves Ltd.,	HDFC Premier Multi-Cap Fund	18/03/2008	S	50000	0.01	1188000	0.32
500093	Crompton Greaves Ltd.,	HDFC Prudence Fund	06/06/2008 - 26/03/2009	B	1075000	0.29	--
500093	Crompton Greaves Ltd.,	HDFC Prudence Fund	04/12/2007 - 07/01/2008	S	437500	0.11	3737500	1.02
500093	Crompton Greaves Ltd.,	HDFC Top 200 Fund	28/03/2008	B	50000	0.01	--
500093	Crompton Greaves Ltd.,	HDFC Top 200 Fund	21/01/2008 - 25/03/2009	B	2098983	0.57	3980983	1.08
500093	Crompton Greaves Ltd.,	HDFC Long Term Advantage Fund	21/01/2008 - 23/06/2008	B	214000	0.05	--
500093	Crompton Greaves Ltd.,	HDFC Long Term Advantage Fund	02/03/2009	S	227500	0.06	1000000	0.27
500093	Crompton Greaves Ltd.,	HDFC Long Term Equity Fund	22/01/2008	B	46000	0.01	--
500093	Crompton Greaves Ltd.,	HDFC Long Term Equity Fund	14/10/2008	S	200000	0.06	2282920	0.62
500093	Crompton Greaves Ltd.,	HDFC Infrastructure Fund-Growth Plan	18/02/2008 - 18/03/2008	B	350000	0.09	--
500093	Crompton Greaves Ltd.,	HDFC Infrastructure Fund - Growth Plan	25/02/2008 - 02/07/2008	B	2217470	0.60	2567470	0.70
500093	Crompton Greaves Ltd.,	HDFC MF Mthly Income Plan - Long Term P	25/03/2008 - 26/03/2008	B	407500	0.11	--
500093	Crompton Greaves Ltd.,	HDFC MF Mthly Income Plan- Long Term P	24/03/2008	B	50000	0.01	772500	0.21
500093	Crompton Greaves Ltd.,	HDFC MF Mthly Income Plan- Long Term P	13/12/2007	S	35000		--
500093	Crompton Greaves Ltd.,	HDFC Mid Cap Opportunities Fund	20/08/2008 - 11/09/2008	B	300000	0.08	2122500	0.57
500093	Crompton Greaves Ltd.,	HDFC Mid Cap Oppportunities Fund	29/02/2008	S	77500	0.02	0	0.00
500093	Crompton Greaves Ltd.,	HDFC Arbitrage Fund	19/03/2008 - 25/03/2009	B	395500	0.10	--
500093	Crompton Greaves Ltd.,	HDFC Arbitrage Fund	01/07/2008	S	19500		376000	0.10
500093	Crompton Greaves Ltd.,	HDFC Balanced Fund	22/01/2008 - 11/02/2008	B	130743	0.03	130743	0.03
500093	Crompton Greaves Ltd.,	HDFC Capital Builder Fund	11/02/2008	B	40000	0.01	1090000	0.29
500093	Crompton Greaves Ltd.,	HDFC Core & Satellite Fund	16/01/2008 - 24/07/2008	S	200000	0.05	--
500093	Crompton Greaves Ltd.,	HDFC Core & Satellite Fund	24/03/2008 - 28/03/2008	S	100000	0.02	800000	0.21
500093	Crompton Greaves Ltd.,	HDFC Equity Fund	22/01/2008 - 26/03/2009	B	1602349	0.43	7578565	2.06
500093	Crompton Greaves Ltd.,	HDFC Equity Fund	02/01/2008 - 18/02/2008	S	327000	0.08	0	0.00
500093	Crompton Greaves Ltd.,	HDFC Childrens Gift Fund-Invest. Plan	21/01/2008 - 11/02/2008	B	63000	0.01	163000	0.04
500093	Crompton Greaves Ltd.,	HDFC Equity Fund	07/01/2008 - 08/01/2008	S	171784	0.04	7578565	2.06
500093	Crompton Greaves Ltd.,	HDFC Growth Fund	02/03/2009	B	227500	0.00	--
500093	Crompton Greaves Ltd.,	HDFC Growth Fund	10/03/2008 - 29/09/2008	B	1209819	0.33	2189819	0.00
500093	Crompton Greaves Ltd.,	HDFC Childrens Gift Fund- Savings Plan	23/01/2008 - 09/06/2008	B	21500		--
500093	Crompton Greaves Ltd.,	HDFC Childrens Gift Fund-Savings Plan	28/02/2008	S	3500		18000
500093	Crompton Greaves Ltd.,	HDFC Premier Multi-Cap Fund	07/05/2008 - 28/05/2008	S	250918	0.06	0
507442	Dharani Sugars & Chemicals Ltd	Dharani Credit and Finance P Ltd	28/03/2009	B	35790		3754440	14.79
507442	Dharani Sugars & Chemicals Ltd	Dharani Developers P Ltd	28/03/2009	B	126910		1209088	4.76
507442	Dharani Sugars & Chemicals Ltd	Ananthi Developers Ltd	28/03/2009	B	578813		1000000	3.94
507442	Dharani Sugars & Chemicals Ltd	Mr R Murugavel	28/03/2009	S	741513	2.92	--
532322	Elder Pharmaceuticals Ltd	Semit Pharmaceuticals & Chemicals Pvt Lt	25/03/2009 - 30/03/2009	B	1420		1849802	9.81
505250	G.G. Dandekar Machine Works Ltd.,	Better Value Holdings Pvt Ltd.	08/04/2009	B	1400	0.02	2379345	49.97
505250	G.G. Dandekar Machine Works Ltd.,	Better Value Holdings Pvt Ltd.	09/04/2009	B	910	0.01	2380255	49.99
500202	India Lease Devl. Ltd.,	MGF Services Ltd.	09/04/2009	B	1424	0.01	288233	2.82
532644	J.K. CEMENT LTD	Shri. K.N. Khandelwal	09/04/2009	B	500		3421
532644	J.K. CEMENT LTD	Smt Radha Khandelwal	02/04/2009	B	1500		2500
500247	Kotak Mahindra Bank Ltd.	Sudhir Khanna	02/04/2009	S	2000		12000
500247	Kotak Mahindra Bank Ltd.	Kamlesh Rao	02/04/2009	S	2400		25
531241	Linc Pen & Plastics Ltd.	Linc Writing Aids Pvt Ltd.	--	B	14545	0.18	1360419
532783	LT Foods Limited	Ashok Arora	31/03/2009	B	5000		2131692	9.57
532796	Lumax Auto Technologies Ltd.	D.K. Jain Family Trust	06/04/2009 - 08/04/2009	B	40790	0.35	40790	0.35
500257	Lupin Ltd	Satish S. Khurana	31/03/2009	S	2500		6350
513269	Man Industries (India) Ltd	Jhamaklal M Mansukhani	26/03/2009	B	549		755677	1.41
514242	MH Mills & Industries Ltd	Biren Parikh	09/04/2009	B	290900		336024	2.04
501343	Motor & General Finance (M.G.F.) Lt	MGF Services Ltd.	--	B	5925	0.03	520230	2.68
532391	Opto Circuits (India) Ltd.	Dr. Suleman Adam Merchant	31/03/2009	S	10000		224513	0.13
517258	Precision Electronics Ltd.,	Ashok ,Pradeep Kanodia & PACs	31/03/2009	B	680000		9166460	66.19
517258	Precision Electronics Ltd.,	Knowledge Holdings Investments Pte Ltd	31/03/2009	S	680000		3179905	22.96
500356	Rama Newsprint & Papers Ltd.	Mr. Vashu Ramsinghani	--	B	2399299	4.13	2399313	4.13
500356	Rama Newsprint & Papers Ltd.	Indo Us Enterprises Ltd	--	S	6470343	11.13	--
500356	Rama Newsprint & Papers Ltd.	Sonia Chabbria	--	B	1744733	3.00	1745177	3.00
500356	Rama Newsprint & Papers Ltd.	Manju V Ramsinghani	--	B	2326311	4.00	2326313	4.00
531391	Ratnabali Capital Markets ltd.	Jaishree Somani	08/04/2009	B	119249	2.29	402749	7.74
520111	Ratnamani Metals & Tubes Ltd	Jayanti M Sanghvi	09/04/2009	B	11000		2896270	6.43
524636	S.S.Organics Ltd.	B. Subba Reddy	09/04/2009	B	2500000		4400600	43.78
531548	Somany Ceramics Limited	Scope Vinimoy Pvt Ltd	31/03/2009	B	200		624482	9.05
508976	Spanco Ltd.	Intell Invofin India Pvt Ltd.	30/03/2009 - 31/03/2009	S	1085000	5.25	409
524264	Unimers India Ltd.	Subh Shanti Services Ltd	30/03/2009	S	1451548	9.13	--
524264	Unimers India Ltd.	Skylark Rubber Products Ltd.	30/03/2009	B	1451548	9.13	1451548	9.13
517146	Usha Martin Ltd.	Peterhouse Investments Ltd.	06/04/2009	B	1590000	0.64	15106455	6.04
532953	V-Guard Industries Ltd.	Kochouseph Chittilappilly	02/04/2009	B	3894		6801470	22.79
532824	Vijayeswari Textiles Ltd.	Sheshraj Enterprises Pvt Ltd	09/04/2009 - 13/04/2009	B	18438	0.10	7659670	42.16

507852	Addi Industries Ltd.,	CHAMAN LAL JAIN	13/04/2009	Acq	233901	2.17	1649367	15.28	#
507852	Addi Industries Ltd.,	CHAMAN LAL JAIN	13/04/2009	Acq	233901	2.17	1649367	15.28	*
500012	Andhra Petrochemicals Ltd.,	JOCIL LTD	06/04/2009	Acq	5484	0.01	405484	0.48	#
532616	Cambridge Solutions Limited	XCHANGING (MAURITIUS) LTD & PACS	09/04/2009	Acq	64474153	57.89	84699061	76.06	*
511196	Can Fin Homes Ltd.,	CANARA BANK	01/04/2008 - 18/03/2009	Acq	1023772		--		*
526839	CCAP Ltd.	CHANDRA MUKHERJI & PACS	08/04/2009	Acq	169	0.01	1248779	34.98	#
526550	Country Club (India) Ltd.	GOLDMAN SACHS INVESTMENTS (MAURITIUS) I LTD. (":GSIMT")	03/04/2009	Acq	5100000	6.59	6424250	8.30	#
526550	Country Club (India) Ltd.	GOLDMAN SACHS INVESTMENTS (MAURITIUS) I LTD. (":GSIMT")	03/04/2009	Acq	5100000	6.59	6424250	8.30	*
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	*
505250	G.G. Dandekar Machine Works Ltd.,	BETTER VALUE HOLDINGS PVT LTD	08/04/2009	Acq	1400	0.03	2379345	49.97	#
505250	G.G. Dandekar Machine Works Ltd.,	BETTER VALUE HOLDINGS PVT LTD	09/04/2009	Acq	910	0.02	2380255	49.99	#
532702	Gujarat State Petronet Ltd.	INDIA DEVELOPMENT FUND	01/04/2009	Sale	3573779	0.64	1665531	0.30	*
500202	India Lease Devl. Ltd.,	MGF SERVICES LTD.	09/04/2009	Acq	1424	0.01	288233	2.83	#
514165	Indian Acrylics Ltd	DHEERAJ GARG	09/04/2009 - 13/04/2009	Acq	233134	0.17	637011	0.48	*
530885	Jaisal Securities Limited,	SHRIPATHEE INVESTMENTS PVT LTD (SPIPL)	10/02/2009	Acq	3600	0.04	2470257	28.46	*
530885	Jaisal Securities Limited,	SHRIPATHEE INVESTMENTS PVT LTD (SPIPL)	10/02/2009	Acq	3600	0.04	2470257	28.46	#
514128	Konark Synthetics, Ltd	RAKADEVI DALMIA & PAC's	13/04/2009	Acq	3540000	60.51	4357222	74.48	*
531241	Linc Pen & Plastics Ltd.	LINC WRITING AIDS PVT. LTD	09/04/2009	Acq	14545	0.18	1360419	17.00	#
532796	Lumax Auto Technologies Ltd.	D K JAIN FAMILY TRUST & PAC's	06/04/2009 - 08/04/2009	Acq	40790	0.35	6931122	59.59	#
501343	Motor & General Finance (M.G.F.) Lt	MGF SERVICES LTD.	--	Acq	5925	0.03	520230	2.69	#
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	08/04/2009	Acq	13118	0.02	45592545	68.21	*
532387	Pritish Nandy Communications Ltd	CRESTA FUND LTD.	02/04/2009	Acq	1000000	6.91	1000000	6.91	*
531391	Ratnabali Capital Markets ltd.	VIKASH SOMANI	09/04/2009	Acq	7800	0.15	657300	12.63	#
531391	Ratnabali Capital Markets ltd.	SURESH KUMAR SOMANI	09/04/2009	Acq	7771	0.15	661571	12.72	#
531391	Ratnabali Capital Markets ltd.	JAISHREE SOMANI	09/04/2009	Acq	97949	1.88	427549	8.22	#
524636	S.S.Organics Ltd.	B SUBBA REDDY	09/04/2009	Acq	2500000	19.10	4400600	43.78	#
508976	Spanco Ltd.	INTELL INVOFIN INDIA (P) LTD	30/03/2009 - 31/03/2009	Sale	1085000	5.25	409		#
523756	SREI Infrastructure Finance limited	ADHYATMA COMMERCIAL PVT LTD & PAC's	25/03/2009 - 27/03/2009	Acq	2467000	2.12	5750000	4.95	*
532398	Usha Martin Infotech Ltd.	UMIL SHARE & STOCK BROKING SER LTD	31/03/2009	Sale	525000	1.99	3243441	12.28	#
532398	Usha Martin Infotech Ltd.	USHA MARTIN FINANCE LTD	31/03/2009	Acq	525000	1.99	2666218	10.09	#
517146	Usha Martin Ltd.	UMIL SHARE & STOCK BROKING SER LTD	06/04/2009	Sale	3125000	1.25	37677365	15.06	#
517146	Usha Martin Ltd.	KENWYN OVERSEAS LTD	06/04/2009	Acq	3125000	1.25	10459680	4.18	#
517146	Usha Martin Ltd.	UMIL SHARE & STOCK BROKING SER LTD	06/04/2009	Sale	1590000	0.64	36087365	14.42	#
517146	Usha Martin Ltd.	PETERHOUSE INVESTMENTS LIMITED	06/04/2009	Acq	1590000	0.64	15106455	6.04	#
531249	Well Pack Papers & Containers Ltd.	VISHESH SHAHRA	25/03/2009 - 27/03/2009	Sale	55000	1.24	320000	7.22	#

RESEARCH REPORTS