INDIAN MARKET 17-Mar 16-Mar % Change COMMENTARYBSE Sensex 18,150 18,360 (1.14)

NSE Nifty 5,447 5,511 (1.17)

BSE Midcap 6,537 6,556 (0.29)

BSE Smallcap 7,860 7,890 (0.38)

Nifty Junior 10,718 10,740 (0.20)

CNX Midcap 7,641 7,637 0.06

GLOBAL MARKETS 17-Mar 16-Mar % Change

Dow Jones Ind (USA) 11,775 11,613 1.39

Nasdaq Composite(USA) 2,636 2,617 0.73

S&P 500 (USA) 1,274 1,257 1.33

FTSE 100 (UK) 5,696 5,598 1.75

DAX (Germany) 6,657 6,514 2.20

Nikkei 225 (Tokyo) 8,963 9,094 (1.44)

Hang Seng (Hong Kong) 22,284 22,701 (1.84)

Shanghai Comp (China) 2,897 2,931 (1.15)

KOSPI (South Korea) 1,959 1,958 0.05

STI (Singapore) 2,950 2,971 (0.69)

MSCI Emerging Market 420 417 0.72

MSCI Frontier Market 550 548 0.36

BOND MARKETS 17-Mar 16-Mar Change CORPORATE/ ECONOMY NEWS

Volume: 1 | Issue: 389| November 1, 2010

INDIA

The Indian market resumed its downtrend, with the main stock indices closing near the low point of theday, after the RBI hiked rates by 25 bps and raised its inflation estimate amid persistent worries over theglobal uncertaintiesThe central bank said it sees risks to economic growth from surging global commodityprices, especially crude oil. It also raised the red flag on a pick-up in non-food manufactured products.TheBSE Sensex lost 209 points to close at 18,150 while, the NSE Nifty lost 65 points to close at 5,447BSE mid andsmall-cap indices outperformed the benchmark and slipped 0.3% each to 6,537 and 7,860, respectively.Most of the sectoral indices were in red with IT, FMCG, auto and metal indices leading the fall.

GLOBAL MARKETS

Stocks staged a strong bounce after they had logged sizable losses for three straight sessions in reaction toa massive earthquake in Japan, subsequent failures at that country's nuclear facilities, and ongoing socialand political unrest in the Middle East and North Africa. Buyers stepped back into action yesterday with abroad-based bid that took the Dow and S&P 500 up more than 1%. The Nasdaq also staged a stronggain,.Dow ended up by 1.39% at 11,775 S&P 500 up 1.33% at 1274 and the teck gaint Nasdaq ended up0.73% at 2636.

The Asian markets have opened up strongly Nikkei is up 2.5% and Hang Seng is up 0.75%.

March 18, 2011

BOND MARKETS 17-Mar 16-Mar Change CORPORATE/ ECONOMY NEWS10yr G-Sec Yield 8.08 8.07 0.011yr G-Sec Yield 7.58 7.58 0.00LIBOR (6m) 0.46 0.46 0.00LIBOR (1m) 0.27 0.26 0.01Interbank Call rate 7.4 7.1 0.29

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HCL Infosystems has bagged over Rs. 3bn (approx US$ 66mn) order from Indian Air Force under itsSystems Integration Defence Practice.

Reliance Infrastructure Ltd has announced securing EPC contract of 2400 MW gas based Combined CyclePower Project at Samalkot.This project is located in gas rich belt at Samalkot,East Godavari District inAndhra Pradesh and is the largest gas based power plant to be set up in the country.The contract value ofthe project is Rs72bn and shall execute the contract on lumpsum turnkey EPC contract basis.

Reliance Communications Limited (RCOM) has drawn down first tranche of Rs. 30bn (US$ 665 Million)out of the Rs. 87bn (US$ 1.93bn) facility signed with China Development Bank (CDB) on March 9, 2011. Thefacility includes Rs. 60bn (US$ 1.33 Billion) for refinancing 3G spectrum fee payment by RCOM and Rs. 2,7bn(US$ 600 Million) for equipment imports from Chinese Vendors.

Ramky Infrastructure have secured new orders aggregating Rs. 288.32 crore in water & waste watertreatment and building segments.

Maruti Suzuki India tumbled 4.44% yesterday on BSE on reports the company had not hedged its yenexposure after 28 February 2011 as the mangement had expected the yen to depreciate against the USdollar.

Hindustan Construction Company Ltd has announced on Thursday that it has received two Orders fromHindalco Industries Ltd for 6 x 150 MW Captive Power Plant - Aditya Aluminium Project atSambalpur, Orissa.

Jubilant FoodWorks Ltd that operates Dominos Pizza chain in India today said it plans to diversify intonew areas, including operating hotels and other non-food segments such as garments and fashionaccessories.

Public sector lender United Bank of India said it expects the government to infuse a capital of Rs 308 croreby the end of this month.

Allcargo Global Logistics on Thursday said it plans to enter third-party logistics business in a few monthsand expand its warehousing capacity to 400,000 sq ft.Third-party logistics providers handle all or most of acompany's freight and production distribution activities, thus relieving the customer from day-to-daylogistical issues.

SECTOR 17-Mar 16-Mar % Change CORPORATE NEWSPower 2,573 2,567 0.22

Cd 5,862 5,857 0.08

Cg 12,478 12,502 (0.19)

Psu 8,540 8,574 (0.40)

Hc 5,833 5,861 (0.49)

Bankex 12,341 12,438 (0.79)

Realty 2,088 2,105 (0.80)

Oil&Gas 9,954 10,036 (0.82)

Teck 3,571 3,613 (1.15)

Metal 15,293 15,476 (1.18)

Auto 8,659 8,771 (1.27)

It 6,083 6,175 (1.50)

Fmcg 3,415 3,468 (1.54)

BSE Upper Circuit Breakers

Company Name 17-Mar 16-Mar % Change

Acropetal Technologies 123.0 102.5 20.00

Piramal Life Sciences 102.0 85.0 20.00

Karma Ispat 119.1 99.3 20.00

Andhra Cement 14.8 13.4 10.00 0

Volume: 1 | Issue: 389| November 1, 2010

Bharti Airtel, India's top mobile carrier, signed up 3.2 million mobile users inFebruary, taking its total to about 159 million, data released by an industry bodyshowed on Thursday.The third-largest mobile carrier Vodafone Essar added 3.6 millionmobile users in February to have a total of 130.9 million, the Cellular OperatorsAssociationof India (COAI) said.

India's largest utility vehicles maker Mahindra & Mahindra sees an impact on autocomponent supplies this month due to last week's massive earthquake and tsunami inJapan.

Gilead Sciences, a California based bio-pharmaceutical research firm along with itspatent partner Roche Holding AG has sued Indian generic drug maker Natco Pharmafor allegedly infringing a US patent for Tamiflu, a drug used in treatment of bird andswine-flu infections.

Dr Pawan Goenka, President, Automotive & Farm Equipment Sectors, Mahindra &Mahindra Ltd. (M&M) has been appointed as the Chairman of Ssangyong MotorCompany (SYMC) at a meeting of the newly appointed Board of Directors of thecompany, in Korea.

GEI Industrial Systems recently bagged new orders aggregating Rs. 45 crore forsupply of air cooled vacuum steam condensers.

The National Pharmaceutical Pricing Authority (NPPA) yesterday said it hasincreased prices of 62 drugs, which are mainly based on indigenously manufacturedinsulin, giving a filip to domestic firms.The drug price regulator has also reduced pricesof 14 drugs, while that of 21 drugs remained unchanged in its latest review meeting

March 18, 2011

Andhra Cement 14.8 13.4 10.00 0

Visagar Polytex 199.9 190.4 5.00

BSE Lower Circuit Breakers

Company Name 17-Mar 16-Mar % Change

Parichay Investments 233.9 246.2 (5.00)

KGN Industries 123.2 129.6 (5.00)

EPC Industries 94.6 99.6 (5.00)

RM Mohite 201.1 211.6 (5.00)

Dollex Industries 7.6 8.0 (5.00)

COMMODITY 17-Mar 16-Mar % Change COMMODITY / CURRENCY NEWS Crude Oil (USD/bbl) 100.6 98.4 2.21

Gold (Rs/10gm) 20,682.0 20,667.0 0.07

Silver (Rs/kg) 52,325.0 52,384.0 (0.11)

CURRENCY 17-Mar 16-Mar % Change

INR / USD 45.12 45.25 (0.29)

USD / Euro 1.39 1.39 -

Yen / USD 79.10 80.69 (1.97)

of 14 drugs, while that of 21 drugs remained unchanged in its latest review meetingheld last week.The majority of the drugs, whose prices have been increased are used intreatmentof diabetes and tuberclosis.

Power equipment maker Siemens Ltd, the Indian unit of Siemens AG, said its non-banking financial services arm has sought the Reserve Bank of India's approval to startoperations in the country.

Venus Remedies have secured an approval from Gulf Cooperation Council to marketoncology and carbapenem range of products in Gulf countries.

The Maharashtra State Power Generation Company (Mahagenco) plans to investaround Rs 50,000 crore over the next five years to double its generation capacity toaround 20,000 MW.

Fortis Healthcare (India) said that its promoter group firm Fortis Healthcare Holdingshas pledged0.77% stake in the company for an estimatedRs 47 crore.

Navratna PSU National Aluminium Company (Nalco) said that it has paid Rs 476crore as advance income tax for the financial year 2010-11, as against Rs 295 crore paidfor the last fiscal.

Light Sweet Crude Oil on Wednesday lost 0.16% closing at $98.6 per barrel. Gold closedup by 0.07% at Rs 20,682 and silver closed down by 0.11% at Rs 52,325..

The Indian Rupee closed higher against the dollar at Rs 45.12 as the Indian equitybenchmarks ended on negative note.

FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSGTLINFRA 36.6 c #VALUE!

EKC 73.4 74.2 1.16

BAJAJHLDNG 730.4 738.0 1.03

GSPL 99.3 100.3 1.01

ALOKTEXT 20.8 21.0 0.96

RUCHISOYA 99.2 100.2 0.96

PIRHEALTH 470.3 459.7 (2.24)

ACC 1025.4 1,004.4 (2.05)

COREPROTEC 309.4 304.4 (1.60)

BHUSANSTL 439.8 435.7 (0.92)

SUNTV 435.1 431.4 (0.85)

BHEL 1964.0 1,949.7 (0.73)

INSTITUTIONAL ACTIVITY (Rs Cr) 08-Mar 07-Mar YTD

FII Cash Net 368 3 (6,145) FII Stock Futures (57) (517) 5,780 FII Index Futures 418 (1,623) (3,560) Mutual Fund 53 (243) 2,318

VALUATIONS P/E P/B DIV YLD

BSE 19.7 3.4 1.2

NSE 21.1 3.5 1.3BSE500 Mcap/GDP Ratio 0.59

Volume: 1 | Issue: 389| November 1, 2010

The Reserve Bank of India (RBI) on Thursday increased the repurchase rate (repo rate)and the reverse repurchase rate (reverse repo rate) by quarter percentage point eachas part of a continuous effort to check stubbornly high inflation.

The central bank yesterday hiked the repo rate to 6.75% from 6.50% while the reverserepo rate has been raised to 5.75% from 5.50%.

The RBI left the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR)unchangedat 6% and 24%, respectively.

State-owned SPMCIL, engaged in minting of coins and printing of currency, has set anambitious sales target of Rs 2,800 crore for the next fiscal.

Foreign investors have turned optimistic on the Indian market and invested awhopping Rs 5,200 crore (about $1.16 billion) so far this month in contrast to heavyoutflowswitnessed in February.

The Government has slashed the minimum export price (MEP) of onions for the thirdtime this month to $275 per tonne from the earlier price of $350 per tonne.

March 18, 2011

4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS

Rs % Rs % Rs %

Reliance Comm 106.6 3.5 Mahindra Lifesp 368.45 8.78 Piramal Life 102 20BHEL 1965.1 1.98 Prestige Estates 114.7 6.11 Fame India 57.8 19.92Reliance Infra 652.8 1.16 BOC India 270.05 5.14 Empee Dist 114.55 13.75Cipla 299.0 0.98 Edelweiss Cap 38.3 5.08 Andhra Cements 14.78 9.97Jaiprakash Asso 82.7 0.79 MVL 27.95 4.1 Cals Ref 0.34 9.68

TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS

Name Rs % Name Rs % Rs % Maruti Suzuki 1169.3 -4.44 Jyothy Lab 203 -11.78 Zenith Info 137.65 -7.62

HDFC 637.4 -3.68 Network18 Media 143 -9.24 Hindustan Media 140 -6.91

Hindalco Inds 198.1 -2.49 KGN Inds 123.15 -4.98 Binny 83.8 -4.99

DLF 221.7 -2.12 Sunteck Realty 305 -4.6 RM MOHITE 201.05 -4.99

Infosys 2981.3 -1.79 Ballarpur Inds 32.05 -3.75 Well Pack Papers 6.12 -4.97

SCRIPT NAME CLIENT NAME TYPE PRICE

Nu Tek India Trans Financial Resources Ltd BUY 17.6

Emami Infrastructure Crosseas Capital Services Pvt. Ltd. BUY 47.6

SUDAR GARM Crosseas Capital Services Pvt. Ltd. SELL 119.5

Tata Coffee A K G Securities And Consultancy SELL 890.0

Fiem Industries Fiem Industries Limited SELL 176.0

Birla Shloka Philipa John Dmello SELL 15.7

Kalindi Rail Deepak Popatlal Vora BUY 126.5

Marico Oppenheimer International Value Fd BUY 114.0

Dhanus Tech Grantview Properties SELL 11.4

Suryajyoti Spi Dinesh Shah SELL 51.0

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