>INSIDER TRADING 23-04-09

507852	Addi Industries Ltd.,	Smt. Urmila Jain	21/04/2009	B	290000	2.68	3312319	30.67
532799	Akruti City Ltd.	Lata M. Shah	26/03/2009	S	300000	0.45	2100000	3.15
532799	Akruti City Ltd.	Falguni V. Shah	26/03/2009	S	3850000	5.77	2510000	3.76
532799	Akruti City Ltd.	Mahipatray V. Shah - HUF	26/03/2009	S	600000	0.89	9000000	13.49
511196	Can Fin Homes Ltd.,	Canara Bank	17/04/2009	B	5888	0.02	8371571	40.86
526839	CCAP Ltd.	Chandra Mukherji	20/04/2009	B	425	0.01	217248	6.08
532696	Educomp Solutions Ltd	Mohit Maheshwari	20/04/2009	B	480		480
505790	Fag Bearings India Ltd.	Acacia II Partners, L.P. & PACs	06/04/2009	B	447177	2.70	1051283	6.33
511618	JIK Industries Ltd	Mr. R. G. Parikh	04/04/2009	B	513050		5738753	22.72
511131	Kamanwala Housing Construction Ltd	Sorabh Gupta	30/03/2009	S	1110		160470	1.14
511131	Kamanwala Housing Construction Ltd	Sudha Gupta	06/04/2009	S	30000		209311	1.48
511131	Kamanwala Housing Construction Ltd	Sudha Gupta	08/04/2009	S	25000		184311	1.31
500247	Kotak Mahindra Bank Ltd.	Dipak Gupta	06/04/2009	S	5000		285500
532783	LT Foods Limited	Ashwani Arora	21/04/2009	B	10250		2181830	9.80
500257	Lupin Ltd	Vinod Dhawan	21/04/2009	S	1000		7150	0.01
500257	Lupin Ltd	Nitin B Vadia	20/04/2009 - 21/04/2009	S	1000		7050	0.01
500257	Lupin Ltd	Udayan S Ambegaokar	21/04/2009	S	100		5450
532865	Meghmani Organics Ltd.	Karana Ramesh Patel	--	B	232874		1232874	48.50
532865	Meghmani Organics Ltd.	Karana Ramesh Patel	--	B	100000		1332874	0.52
532865	Meghmani Organics Ltd.	Karana Ramesh Patel	--	B	36191		1369065	0.53
532865	Meghmani Organics Ltd.	Karana Ramesh Patel	--	B	70000		1439065	0.56
501343	Motor & General Finance (M.G.F.) Lt	MGF Services Ltd.	--	B	792	0.00	521022	2.69
531349	Panacea Biotec Ltd.	First Lucre Partnership Co.	08/04/2009	B	13118	0.02	1941200	2.90
531349	Panacea Biotec Ltd.	First Lucre Partnership Co.	16/04/2009	B	7674	0.01	1948874	2.92
532810	Power Finance Corporation Ltd	Anita Ghulyani	12/11/2008 - 20/04/2009	S	5231		733
532725	Solar Industries Limited	HDFC Core & Satellite Fund	--	B	75000	0.43	--
532725	Solar Industries Limited	HDFC Core & Satellite Fund	--	S	85850	0.49	--
532725	Solar Industries Limited	HDFC Growth Fund	27/01/2007 - 17/04/2009	B	284747	1.64	913257	5.27
532725	Solar Industries Limited	HDFC Growth Fund	17/10/2008	B	200000	1.15	913257	5.27
532725	Solar Industries Limited	HDFC Growth Fund	14/01/2008	S	20000	0.11	913257	5.27
532725	Solar Industries Limited	HDFC Multiple Yield Fund	14/01/2008	B	20000	0.11	20000	0.11
532725	Solar Industries Limited	HDFC Infrastructure Fund	--	B	200000	1.15	--
532725	Solar Industries Limited	HDFC Infrastructure Fund	--	S	200000	1.15	--
532725	Solar Industries Limited	HDFC MF Monthly Inc Plan-Short Term Plan	01/08/2007	B	27537	0.15	--
532725	Solar Industries Limited	HDFC MF Monthly Inc Plan-Short Term Plan	13/08/2007	S	27537	0.15	--
532725	Solar Industries Limited	HDFC Mid-Cap Opportunities Fund	27/06/2007 - 02/08/2007	B	130415	0.75	583180	3.36
532725	Solar Industries Limited	HDFC Mid-Cap Opportunities Fund	31/07/2007 - 13/08/2007	B	113387	0.65	583180	3.36
532725	Solar Industries Limited	HDFC Mid-Cap Opportunities Fund	29/09/2008 - 18/02/2009	S	144379	0.83	583180	3.36
532725	Solar Industries Limited	HDFC Mid-Cap Opportunities Fund	01/08/2008	S	200000	1.15	583180	3.36
517224	Sujana Universal Industries Ltd.	Sujana Finance & Trading Private Ltd	13/04/2009	S	3388293	2.74	17728642	14.32
532904	Supreme Infrastructure India Limited	Bhawani Shankar Sharma	20/04/2009 - 21/04/2009	B	27000		2802600	20.18
500408	Tata Elxsi Ltd	HDFC Long Term Advantage Fund	05/12/2007 - 07/12/2007	S	116500	0.37	383500	1.23
500408	Tata Elxsi Ltd	HDFC Long Term Equity Fund	16/06/2006 - 26/07/2006	B	299500	0.96	--
500408	Tata Elxsi Ltd	HDFC Long Term Equity Fund	13/02/2007 - 30/11/2007	S	1005000	3.22	--
500408	Tata Elxsi Ltd	HDFC Long Term Equity Fund	23/03/2007 - 11/07/2007	S	975000	3.13	--
500408	Tata Elxsi Ltd	HDFC Balanced Fund	16/10/2007	S	175000	0.56	--
500408	Tata Elxsi Ltd	HDFC Long Term Advantage Fund	15/05/2007	B	500000	1.60	--
500408	Tata Elxsi Ltd	HDFC Balanced Fund	23/03/2007	B	175000	0.56	--
500408	Tata Elxsi Ltd	HDFC Mid-Cap Opportunities Fund	11/07/2007 - 16/10/2007	B	475000	1.52	--
500408	Tata Elxsi Ltd	HDFC Mid-Cap Opportunities Fund	25/06/2007 - 24/07/2007	B	300039	0.96	--
500408	Tata Elxsi Ltd	HDFC Mid-Cap Opportunities Fund	23/07/2007	S	39		--
500408	Tata Elxsi Ltd	HDFC Mid-Cap Opportunities Fund	03/12/2007 - 15/04/2009	S	775000	2.48	--
532349	Transport Corporation of India Ltd	Vineet Agarwal & Dependents	20/04/2009	B	136900		3526916	4.86
532349	Transport Corporation of India Ltd	Chander Agarwal & Dependents	21/04/2009	B	35000		3346048	4.61
524129	Vinyl Chemicals (India) Ltd.,	Bijal V Thakkar J/w N K Parekh	07/04/2009	S	28500		0
524129	Vinyl Chemicals (India) Ltd.,	Smt. Bharati N Parekh J/w N K Parekh	07/04/2009	B	28500		42750	0.23

507852	Addi Industries Ltd.,	URMILA JAIN	21/04/2009	Acq	290000	2.69	3312319	30.68	#
507852	Addi Industries Ltd.,	URMILA JAIN	21/04/2009	Acq	290000	2.69	3312319	30.68	*
532799	Akruti City Ltd.	LATA M SHAH	24/03/2009	Sale	300000	0.45	2100000	3.15	*
532799	Akruti City Ltd.	MAHIPATRAY V SHAH HUF	24/03/2009	Sale	600000	0.90	9000000	13.49	*
532799	Akruti City Ltd.	FALGUNI V SHAH	24/03/2009	Sale	3850000	5.77	2510000	3.76	*
532799	Akruti City Ltd.	HI-TECH HOUSING PROJECT P. LTD (PLEDGEE)	30/01/2009 - 21/04/2009	Sale	3333000	5.00	0	0.00	*
532799	Akruti City Ltd.	MAHIPATRAY V SHAH HUF	24/03/2009	Sale	600000	0.90	9000000	13.49	#
532799	Akruti City Ltd.	FALGUNI V SHAH	24/03/2009	Sale	3850000	5.77	2510000	3.76	#
532799	Akruti City Ltd.	LATA M SHAH	24/03/2009	Sale	300000	0.45	2100000	3.15	#
531400	Almondz Global Securities Limited	ALMONDZ CAPITAL & MANAGEMENT SERVICES LTD &PAC	08/04/2009	Sale	2400	0.01	11985605	47.33	*
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	21/04/2009	Acq	1994	0.03	700723	9.94	*
511196	Can Fin Homes Ltd.,	CANARA BANK	17/04/2009	Acq	5888	0.03	8371571	40.87	#
526839	CCAP Ltd.	CHANDRA MUKHERJI & PACS	20/04/2009	Acq	425	0.01	1286204	36.02	#
532608	Deccan Chronicle Holdings Ltd.	SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND	16/04/2009	Acq	300000	0.12	--		#
532608	Deccan Chronicle Holdings Ltd.	SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND	16/04/2009	Sale	18877	0.01	12310977	5.03	#
505790	Fag Bearings India Ltd.	ACACIA II PARTNERS , LP & PACS	06/04/2009	Acq	447177	2.70	1051283	6.33	#
524164	IOL Chemicals & Pharmaceuticals Ltd	MAYADEVI POLYCOT LTD & PAC	21/04/2009	Acq	1200000		10937953	51.55	*
524164	IOL Chemicals & Pharmaceuticals Ltd	INDIA STAR (MAURITIUS) LTD.	21/04/2009	Acq	726664		3156664	14.88	*
500520	Mahindra & Mahindra Ltd.	HSBC GLOBAL INV FUNDS (M) LTD & PAC	06/04/2009	Sale	200000	0.00	8312016	2.98	*
501343	Motor & General Finance (M.G.F.) Lt	MGF SERVICES LTD.	--	Acq	792	0.00	521022	2.69	#
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	08/04/2009	Acq	13118	0.02	45592545	68.21	#
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	16/04/2009	Acq	7674	0.01	45600219	68.22	#
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	21/04/2009	Acq	11441	0.02	45640513	68.28	*
526049	Shri Lakshmi Cotsyn Limited	JAYANT TEXTILES (P) LTD	31/03/2009	Acq	400000	2.42	840000	5.39	#
508976	Spanco Ltd.	INTELL INVOFIN INDIA (P) LTD	31/03/2009	Sale	1085000	5.25	409	0.00	*
532904	Supreme Infrastructure India Limited	BHAWANI SHANKAR SHARMA	20/04/2009 - 21/04/2009	Acq	27000	0.19	2802600	20.19	#
506685	Ultramarine & Pigments Ltd.,	RANGASWAMY PARTHASARATHY	17/04/2009	Acq	4838	0.02	1133547	3.89	#
506685	Ultramarine & Pigments Ltd.,	BHOOMA PARTHASARATHY	17/04/2009	Acq	7199	0.02	651183	2.23	#
530665	Zenith Health Care Ltd.	AKSHIT M RAYCHA	06/04/2009	Acq	11000	0.02	745055	1.39	#

RESEARCH REPORTS

>INSIDER TRADING 22-04-09

532840	ADVANTA INDIA LIMITED	Arcacia II Partners LP & PACs	16/04/2009	B	54000	0.32	889790	5.28
532616	Cambridge Solutions Limited	Scandent Holdings Mauritius Ltd.	09/04/2009	S	41665262	37.41	14115071	12.67
511196	Can Fin Homes Ltd.,	Canara Bank	20/04/2009	B	47000	0.22	8418571	41.09
526839	CCAP Ltd.	Chirantan Mukherji	13/04/2009	B	1100	0.03	609223	17.06
526839	CCAP Ltd.	Chandra Mukherji	18/04/2009	B	10000	0.28	216821	6.07
532608	Deccan Chronicle Holdings Ltd.	Franklin Templeton Mutual Fund	16/04/2009	B	300000		--
532608	Deccan Chronicle Holdings Ltd.	Franklin Templeton Mutual Fund	16/04/2009	S	18877		12310977	5.03
532707	Dynemic Products Ltd.	Lilaben D Patel	21/04/2009	S	58750		104750	0.92
532707	Dynemic Products Ltd.	Mukeshkumar B Patel	13/04/2009 - 21/04/2009	S	60433		54168	0.47
532322	Elder Pharmaceuticals Ltd	Semit Pharmaceuticals & Chemicals Pvt Lt	31/03/2009 - 13/04/2009	B	8610	0.04	1858412	9.85
532800	IBN18 Broadcast Ltd	IL&FS Pvt Eq Trust-Leverage India Fund	26/09/2008 - 20/04/2009	S	3750000	2.09	6849500	3.82
514165	Indian Acrylics Ltd	Mr. Dheeraj Garg	17/04/2009 - 20/04/2009	B	101699	0.08	889289	0.67
532642	Jindal South West Holdings Limited	Acacia II Partners LP & PACs	16/04/2009	B	311232	2.81	765366	6.90
532967	Kiri Dyes and Chemicals Limited	Arena Textiles & Industries Ltd	17/04/2009	S	140000	0.93	380000	2.53
526381	Patel Integrated Logistics Ltd	Patel Holdings Ltd.	18/04/2009	B	1177	0.01	2212782	14.67
531033	Regal Entertainment & Consultants Ltd.	Satish Kusumbiwal	02/04/2009 - 08/04/2009	B	800		--
532904	Supreme Infrastructure India Limited	Bhawani Shankar Sharma	17/04/2009	B	25000	0.18	2775600	20.00
532790	Tanla Solutions Ltd.	Citigroup Global Mkt (Mauritius) Pvt Ltd	17/04/2009	S	75517	0.07	5229552	5.23
532372	Virinchi Technologies Ltd.	Viswanath Kompella	09/04/2009	B	6500	0.04	1485500	9.97
532372	Virinchi Technologies Ltd.	Viswanath Kompella	07/04/2009	B	100		1479000	9.92
531404	Zicom Electronic Security Systems l	Goldman Sachs Invest.(Mauritius) I Ltd	04/09/2007 - 17/04/2009	S	500000		486523	3.83
531404	Zicom Electronic Security Systems l	Reliance Mutual Fund	17/04/2009	B	488236	3.84	988070	7.78

526706	Alchemist Limited	RELIGARE SECURITIES LTD	08/04/2009	Acq	554023	4.53	945145	7.72	*
526706	Alchemist Limited	RELIGARE SECURITIES LTD	08/04/2009	Acq	554023	4.53	945145	7.72	#
526706	Alchemist Limited	HS FII INVESTMENTS LTD	15/04/2009	Acq	1224457	9.99	1224457	9.99	#
508869	Apollo Hospitals Enterprises Ltd.,	PRATHAP C REDDY	18/04/2009	Acq	1549157	2.51	2754650	4.46	*
532995	Avon Corporation Limited	PANKAJ P SARAIYA	21/04/2009	Acq	9000	0.05	6687483	40.33	*
531937	Beckons Industries Ltd.	GURMEET SINGH	16/04/2009	Acq	123500	0.46	1417660	5.26	*
531937	Beckons Industries Ltd.	GURMEET SINGH	16/04/2009	Acq	123500	0.46	1417660	5.26	#
532616	Cambridge Solutions Limited	SCANDENT HOLDING MAURITIUS LTD.	09/04/2009	Sale	41665262	37.41	14115071	12.67	#
532616	Cambridge Solutions Limited	SCANDENT HOLDINGS MAURITIUS LTD.	09/04/2009	Sale	41665262	37.41	14115071	12.67	*
511196	Can Fin Homes Ltd.,	CANARA BANK	20/04/2009	Acq	47000	0.23	8418571	41.10	*
511196	Can Fin Homes Ltd.,	CANARA BANK	20/04/2009	Acq	47000	0.23	8418571	41.10	#
526839	CCAP Ltd.	CHANDRA MUKHERJI & PACS	08/04/2009	Acq	169	0.01	1248779	34.98	#
532608	Deccan Chronicle Holdings Ltd.	SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND	16/04/2009	Acq	300000	0.12	--		*
532608	Deccan Chronicle Holdings Ltd.	SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND	16/04/2009	Sale	18877	0.01	12310977	5.03	*
511072	Dewan Housing Finance Corpn. Ltd.,	WADHAWAN HOLDING P LTD	08/10/2008 - 17/04/2009	Acq	1218461	2.01	4595229	7.59	*
532980	Gokul Refoils and Solvent Limited	PACIFIC CORPORATE SERVICES LTD	16/04/2009	Sale	3000	0.01	1177113	4.46	*
532980	Gokul Refoils and Solvent Limited	PACIFIC CORPORATE SERVICES LTD	17/04/2009	Sale	2500	0.01	1174613	4.45	*
514165	Indian Acrylics Ltd	DHEERAJ GARG	18/04/2009 - 20/04/2009	Acq	101699	0.08	889289	0.67	*
514165	Indian Acrylics Ltd	DHEERAJ GARG	18/04/2009 - 20/04/2009	Acq	101699	0.08	889289	0.67	#
524164	IOL Chemicals & Pharmaceuticals Ltd	MAYADEVI POLYCOT LTD & PAC	21/04/2009	Acq	1200000		10937953	51.55	*
532642	Jindal South West Holdings Limited	RUANNE CUNNIFF & GOLDFARB INC & PACs	16/04/2009	Acq	311232	2.81	765366	6.90	#
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	20/04/2009	Acq	4211	0.01	45629072	68.26	*
526381	Patel Integrated Logistics Ltd	PATEL HOLDINGS LTD	17/04/2009	Acq	1177	0.01	2212782	14.67	#
531688	Prithvi Softech Ltd	ASHOK KUMAR KAVAD	05/04/2009	Acq	109547	1.99	1011548	18.39	#
517224	Sujana Universal Industries Ltd.	SUJANA FINANCE AND TRADING PVT LTD	--	Sale	3388293	2.74	17728642	14.32	*
532904	Supreme Infrastructure India Limited	BHAWANI SHANKAR SHARMA	01/04/2009	Acq	25000	0.18	2775600	20.00	*
532904	Supreme Infrastructure India Limited	BHAWANI SHANKAR SHARMA	17/04/2009	Acq	25000	0.18	2775600	20.00	#
531404	Zicom Electronic Security Systems l	RELIANCE LONG TERM EQUITY FUND	17/04/2009	Acq	488236	3.84	988070	7.78	#
531404	Zicom Electronic Security Systems l	RELIANCE LONG TERM EQUITY FUND	17/04/2009	Acq	488236	3.84	988070	7.78	*

RESEARCH REPORTS

>In Trading keep things simple

Interesting facts with great inference…………

Case 1

When NASA began the launch of astronauts into space, they found out that the pens wouldn't work at zero gravity (ink won't flow down to the
writing surface). To solve this problem, it took them one decade and $12 million.

They developed a pen that worked at zero gravity, upside down, underwater, in practically any surface including crystal and in a temperature range from below freezing to over 300 degrees C.


And what did the Russians do...??
.
.
.
.
.
.
They used a pencil.


Case 2

One of the most memorable case studies on Japanese management was the case of the empty soapbox, which happened in one of Japan ’s biggest cosmetics companies. The company received a complaint that a consumer had bought a soapbox that was empty. Immediately the authorities isolated the problem to the assembly! line, which transported all the packaged boxes of soap to the delivery department. For some reason, one soapbox went through the assembly line empty. Management asked its engineers to solve the problem. Post-haste, the engineers worked hard to devise an X-ray machine with high-resolution monitors manned by two people to watch all the soapboxes that passed through the line to make sure they were not empty. No doubt, they worked hard and they worked fast but they spent a whoopee amount to do so.

But when a rank-and-file employee in a small company was posed with the same problem, he did not get into complications of X-rays, etc., but instead came out with another solution. He bought a strong industrial electric fan and pointed it at the assembly line. He switched the fan on, and as each soapbox passed the fan, it simply blew the empty boxes out of the line.


Moral: Always look for simple solutions. Devise the simplest possible solution that solves the problems.
Always focus on solutions & not on problems. So at the end of the day the thing that really matters is HOW ONE LOOKS AT THE PROBLEM and Resolves it early .

In trading its proved again and again simple things work again and again,Of course need to
wait for that set up and trade only when you see that setup.

Many traders trade with many indicators with each indicator giving conflict signal
which confuses trader which in turn holds trader from taking a decision.

I think Trading is mostly about money management on a scale of 100 its 70 for
money management and 30 for trading skills:) I guess many will agree with me
on this.

I have learned ,To trade only when opportunity arrives and of course i don't mind
increasing my stake on a particular trade when i get hints its coming my way...



RESEARCH REPORTS

>INSIDER TRADING 21-04-09

532935	Aries Agro Limited,	Dr. Rahul Mirchandani	17/04/2009	B	17518		639298	4.92
524804	Aurobindo Pharma Ltd.	Prasad Reddy Kambam	16/04/2009	B	21220	0.03	88724	0.16
531937	Beckons Industries Ltd.	Gurmeet Singh	16/04/2009	B	123500		1417660	5.26
500096	Dabur India Ltd.	Sunil Duggal	15/04/2009	S	20000		1444360	0.16
500096	Dabur India Ltd.	A. Sudhakar	15/04/2009	S	5000		183452	0.02
500096	Dabur India Ltd.	Rajan Varma	16/04/2009	S	3696		224059	0.02
532707	Dynemic Products Ltd.	Vishnubhai B Patel	16/04/2009 - 17/04/2009	S	29900		30000	0.26
532707	Dynemic Products Ltd.	Kaminiben V Patel	15/04/2009 - 16/04/2009	S	31200		38500	0.33
522017	Fluidomat Ltd.,	Kunal Jain	10/02/2009 - 21/03/2009	B	40976		527510	10.66
524226	Gujarat Ambuja Exports Ltd.	Smt. Shilpa Gupta	15/04/2009	B	5000		1645000	1.19
530643	Infotrek Syscom Ltd.	B. K. Soni	14/11/2008 - 27/01/2009	B	6110		0	0.00
530643	Infotrek Syscom Ltd.	Aruna Soni	10/11/2008	B	3401		160001	3.13
530643	Infotrek Syscom Ltd.	B. K. Soni	30/03/2009	S	165000		444420	8.71
530643	Infotrek Syscom Ltd.	First Online Comtrades Pvt. Ltd.	25/07/2008 - 30/03/2009	B	221250	4.33	624250	12.24
532054	KDDL Ltd	Reliance Cap Asset Mgmt Ltd A/c PMS	06/04/2009	S	17710	0.24	485009	6.60
532967	Kiri Dyes and Chemicals Limited	Arena Textiles & Industries Ltd	15/04/2009	S	140000	0.93	660000	4.40
532967	Kiri Dyes and Chemicals Limited	Arena Textiles & Industries Ltd	16/04/2009	S	140000	0.93	520000	3.47
523323	Kovai Medical Center & Hospital Ltd	Dr. Thavamani Devi Palaniswami	02/04/2009	B	8792	0.08	1382278	12.63
500257	Lupin Ltd	Vijaykumar A Kothiwale	13/04/2009	S	385		3000	0.00
500257	Lupin Ltd	Vijaykumar A Kothiwale	20/04/2009	S	500		2500
524232	Maharashtra Polybutenes Ltd	Brijmohan Rathi	15/03/2009	S	250000		0
502157	Mangalam Cement Ltd.,	SBI Magnum Midcap Fund	--	S	1150000	4.10	352866	1.25
532307	Melstar Information Technologies Ltd.	Mr. Suresh Saduram Bansal	16/04/2009	S	493713		--
515037	Murudeshwar Ceramics Ltd.,	ICG Q Ltd.	--	S	720891	4.12	348167	1.99
532882	Omnitech InfoSolutions Limited	Amisha Hemani	26/02/2009 - 27/02/2009	B	1000	0.01	989125	7.52
532882	Omnitech InfoSolutions Limited	Atul Hemani	26/02/2009 - 03/03/2009	B	4288	0.03	1818261	13.83
532882	Omnitech InfoSolutions Limited	Avinash Pitale	27/02/2009 - 03/03/2009	B	4365	0.03	1382888	10.52
500540	Premier Limited	Doshi Holdings Pvt Ltd	09/04/2009 - 16/04/2009	B	12000	0.04	12022265	39.58
532866	Quintegra Solutions Limited	Shankarraman Vaidyanathan	15/04/2009	S	833950	3.11	4949086	18.45
520111	Ratnamani Metals & Tubes Ltd	Jayanti M Sanghvi	17/04/2009	B	12000		2908270	6.46
524636	S.S.Organics Ltd.	B. Subba Reddy	28/03/2009	B	367800		--
511754	Shalibhadra Finance Ltd.	Sheetal M Doshi	06/04/2009	B	51		1037273	20.73
526981	Shri Bajrang Alloys ltd.	Anand Goel	15/04/2009	B	75		130575	1.45
532784	Sobha Developers Ltd.	J C Sharma	16/04/2009	S	1000		74956
513262	Steel Strips & Wheels Ltd	Dheeraj Garg	17/04/2009	B	1800		743611	5.69
532904	Supreme Infrastructure India Limited	Bhawani Shankar Sharma	16/04/2009	B	20000	0.14	2750600	19.82
530239	Suven Life Sciences Ltd.	Madhavi Jasti	17/03/2009 - 27/03/2009	B	180565		9624358	8.31
530239	Suven Life Sciences Ltd.	Kalyani Jasti	03/03/2009 - 27/03/2009	B	248635		9662635	8.34
530239	Suven Life Sciences Ltd.	Srisha Jasti	05/03/2009 - 16/03/2009	B	177680		10000000	8.63
532667	SUZLON ENERGY LTD.	Balrajsinh A. Parmar	09/04/2009	S	20000		20847020	1.39
532667	SUZLON ENERGY LTD.	Ranjitsinh A. Parmar	09/04/2009	S	20000		15921033	1.06
532824	Vijayeswari Textiles Ltd.	Seshraj Enterprises Pvt Ltd	17/04/2009	B	9022	0.05	7668692	42.21
532372	Virinchi Technologies Ltd.	Viswanath Kompella	10/04/2009	B	14000	0.09	1499500	10.06

532840	ADVANTA INDIA LIMITED	RUANE CUNNIFF & GOLDFARD INC A/C & PACs	16/04/2009	Acq	54000	0.32	889790	5.28	*
532114	Alchemist Realty Ltd	RELIGARE SECURITIES LTD	08/04/2009	Acq	5121576	6.91	7144614	9.64	*
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	16/04/2009	Acq	3764	0.05	692244	9.82	*
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	17/04/2009	Acq	5693	0.08	697937	9.90	*
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	20/04/2009	Acq	792	0.01	698729	9.91	*
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	02/04/2009	Acq	18040	0.25	632598	8.97	#
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	06/04/2009	Acq	5221	0.08	637819	9.05	#
531381	Arihant Foundations & Housing Ltd.	STERLING PROJECTS & ENG. LTD & PAC	08/04/2009	Acq	631	0.01	638450	9.06	#
524804	Aurobindo Pharma Ltd.	PRASAD REDDY KAMBAM	13/04/2009 - 15/04/2009	Acq	21220	0.03	88724	0.16	#
524804	Aurobindo Pharma Ltd.	PRASAD REDDY KAMBAM	13/04/2009 - 15/04/2009	Acq	21220	0.03	88724	0.16	*
532995	Avon Corporation Limited	PANKAJ P SARAIYA	17/04/2009	Acq	20000	0.12	6668483	40.22	*
532995	Avon Corporation Limited	PANKAJ P SARAIYA	20/04/2009	Acq	10000	0.06	6678483	40.28	*
511196	Can Fin Homes Ltd.,	CANARA BANK	17/04/2009	Acq	5888	0.03	8371571	40.87	*
524226	Gujarat Ambuja Exports Ltd.	SHILPA GUPTA	15/04/2009	Acq	5000	0.01	1645000	1.19	*
524226	Gujarat Ambuja Exports Ltd.	SHILPA GUPTA	15/04/2009	Acq	5000		1645000	1.19	#
532800	IBN18 Broadcast Ltd	SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND	15/04/2009	Acq	757188	0.42	9157240	5.11	#
532800	IBN18 Broadcast Ltd	SCHEMES OF FRANKLIN TEMPLETON MUTUAL FUND	15/04/2009	Acq	757188	0.42	9157240	5.11	*
514034	JBF Industries Ltd.,	BHAGIRATH C ARYA	08/04/2009	Acq	200000	0.32	21984123	35.32	#
532642	Jindal South West Holdings Limited	ACACIA II PARTNERS , LP & PACS	16/04/2009	Acq	311232	2.81	765366	6.90	*
500234	Kakatiya Cement Sugar & Industries Ltd.	P VENKATESWARLU	13/04/2009	Acq	219000	2.82	1411020	18.15	#
531213	Manappuram General Finance And Leas	V P NANDAKUMAR	06/04/2009	Acq	523101	3.03	3853422	22.33	#
532307	Melstar Information Technologies Ltd.	SURESH SADHURAM BANSAL	16/04/2009	Sale	493713	3.46	1161		#
515037	Murudeshwar Ceramics Ltd.,	INDIA INVT. PARTNERS LTD. U.K.	15/04/2009	Sale	720891	4.12	348167	1.99	#
532882	Omnitech InfoSolutions Limited	AMISHA HEMANI	26/02/2009 - 27/02/2009	Acq	1000	0.01	989125	7.53	#
532882	Omnitech InfoSolutions Limited	ATUL HEMANI	26/02/2009 - 03/03/2009	Acq	4288	0.03	1818261	13.84	#
532882	Omnitech InfoSolutions Limited	AVINASH PITALE	27/02/2009 - 03/03/2009	Acq	4365	0.03	1382888	10.52	#
502420	Orient Paper & Industries Ltd.	CENTRAL INDIA INDUSTRIES LTD	01/04/2009	Acq	9372		39277627	20.36	#
502420	Orient Paper & Industries Ltd.	CENTRAL INDIA INDUSTRIES LTD	17/04/2009	Acq	50000	0.03	39327627	20.39	*
531349	Panacea Biotec Ltd.	FIRST LUCRE PARTNERSHIP CO & PAC's	16/04/2009	Acq	7674	0.01	45600219	68.22	*
531746	Prajay Engineers Syndicate Ltd.	CITIGROUP GLOBAL MKT MAURITIUS PVT LTD	16/04/2009	Acq	215965	0.54	2097263	5.28	*
532866	Quintegra Solutions Limited	SHANKARRAMAN VIADYANATHAN	15/04/2009	Sale	833950	3.11	4949086	18.45	#
532869	ROMAN TARMAT LIMITED	JERRY VARGHESE	31/03/2009	Acq	49019	0.44	3190211	29.10	*
524636	S.S.Organics Ltd.	B SUBBA REDDY	09/04/2009	Acq	2500000	19.10	4400600	43.78	*
523023	Sinclairs Hotels Ltd	XANDER INVESTMENT HOLDING X LTD	08/04/2009	Acq	1075328	14.25	1773651	29.24	*
532833	SPARSH BPO SERVICES LIMITED	KAPIL PURI	17/07/2008 - 17/04/2009	Acq	325340	2.02	1213577	7.52	*
513262	Steel Strips & Wheels Ltd	DHEERAJ GARG	17/04/2009	Acq	1800	0.01	743611	5.69	*
513262	Steel Strips & Wheels Ltd	DHEERAJ GARG	17/04/2009	Acq	1800	0.01	743611	5.69	#
532904	Supreme Infrastructure India Limited	BHAWANI SHANKAR SHARMA	16/04/2009	Acq	20000	0.14	2750600	19.82	#
532904	Supreme Infrastructure India Limited	BHAWANI SHANKAR SHARMA	16/04/2009	Acq	20000	0.14	2750600	19.82	*
521228	Tatia Global Vennture Limited	KREON FINNANCIAL SERVICE LTD.	--	Sale	487	0.01	1321669	13.58	*
521228	Tatia Global Vennture Limited	KREON FINNANCIAL SERVICE LTD.	--	Sale	487	0.01	1321669	13.58	#
590005	Tide Water Oil (India) Ltd.	BLUECHIP VANIJYA PVT LTD.	06/04/2009	Acq	43100	4.95	86200	9.89	#
531544	Vertex Spinning Limited	MINTOYESTER FINANCE & INVESTMENT PVT LTD.	11/04/2009	Sale	50000	0.29	17350000	8.45	*
530627	Vipul Dye-Chem Ltd.	MITA V SHAH & PACs	13/04/2009	Acq	91000	1.98	239500	5.22	*
530627	Vipul Dye-Chem Ltd.	VIPUL P SHAH (HUF) & PAC's	13/04/2009	Acq	138000	3.01	250000	5.45	*
511147	Wall Street Finance Ltd.	RELIANCE MONEY EXPRESS LTD.	09/04/2009	Acq	2000	0.02	4252055	36.58	*

RESEARCH REPORTS