Glodyne Technoserve Ltd.

Glodyne Technoserve (erstwhile Paradyne Infotech) in Mumbai
and were impressed with the company’s robust pace of growth and IMSfocused
business model. Company seems well-poised to exploit the
Remote IMS wave with proved expertise, established customer base and
low competition. On organic basis, Glodyne expects to clock 44-52%
revenue growth in current year with significant expansion in margins due
to ongoing shift towards Remote IMS. In addition, company also has
aggressive inorganic growth plans, which would supplement organic
growth. However, the funding of any large acquisition may require some
equity dilution. Based on management’s expectations about growth and
margins, we derive a likely EPS band of Rs64-68 for FY09. At 7.5-8x FY09
P/E (just below median mid-cap valuations), Glodyne is an attractive long
term growth story.
Company Background
Glodyne Technoserve (Glodyne) was incorporated in the year 1997 with a modest
beginning by a group of first generation entrepreneurs. The company set out with
an objective of extending high quality IT services across various industry
segments. Gradually, the company has evolved into an end-to-end IT services
provider with core competencies in Technology IMS and Application software
services. Glodyne has strategic alliances with various global technology giants like
Sun, IBM, CISCO, SAP, Oracle, Microsoft and Acer among others.
Company’s service offerings straddle across industry segments such as BFSI, egovernance,
education, retail, manufacturing, ISVs & ISPs. Its clients include some
blue-chip companies and mid and large size organizations. The service
engagements vary from few months to years of partnership.
Glodyne is a Level-1 Turnkey Solution Provider empanelled by Department of
Information Technology and Government of Maharashtra. Apart from Glodyne,
there are a select few IT companies like IBM, TCS, Wipro, CMC and Tata Infotech
in this league.
Glodyne has presence in the US through its 100% subsidiaries in California,
Virginia & New York.

Business Segments

Glodyne operates in two strategic business segments (SBUs) of Technology

Technology IMS Application Software Services

Facilities & Helpdesk Management Application Development & Maintenance

Network Management Business Process Management

Remote Management Enterprise Application Integration

Disaster Recovery Management Testing & QA

Database & Datacenter Management IT Consulting

Server & Desktop Management Customer Relationship Management

Security & Storage Management HR Information Management Solution

Key clients

Industry Rev share % Key Client Names

BFSI 24.0 IDBI, JM Fin, Amex, HDFC, Stan C, Corp Bank, Deutsche Bank

E-Governance 21.0 Air India, MSSIDC, Mhada, BHEL, GoI, Indian Rail, Dept of Mah

IT/ITES 21.0 KPIT, Geometric, Acer, IBM, Symantec, Plateau, msoft, bmcsoft

Mfg & Retail 18.0 BPCL, Saint Gobain, Hindalco, Tata Motors, Globus, Pantaloon

Education & Research 11.0 IIMB, IMRB, SNDT, TAPMI, Bangalore Univ, IIA, AIMB

Telecom & Media 5.0 BSNL, CellBrite, Nortel, UTV, Hathway, O&M, Equant, ECI Tel

Glodyne has about 240 active clients with the Top 20 clients contributing 30-35% of revenues.
Domestic revenue share at 75%
With majority of the clients from India, about 75% of the Glodyne’s revenues are from the domestic market. The
balance 25% of revenues is from the US where the company has presence through subsidiaries. As the profitability is
higher in the US business compared to India, Glodyne is keen on increasing US revenue share by increasing its
presence. Company also believes that the current recessionary environment in the US would not impact its IMS business
as it targets the clients’ operational expenditure and not the capex, which is discretionary. Company has been
witnessing increasing ticket size of the deals in India.
Remote IMS Industry Size
As per McKinsey, the global IMS industry size is estimated at US$524bn in 2008. Out of this, the addressable market for
Remote IMS services is estimated at US$104bn. Remote IMS services out of India has been growing at a fast pace
increasing from ~US$1bn in 2005 to ~US$3.6bn in 2008. The projected Remote IMS industry size is US$28bn by 2013
of which India is expected to contribute US$15bn. Within the Tech-IMS, the wave towards Remote IMS has been driven
by:
ä Increasing realization by clients and vendors that majority (93-95%) of the technology infrastructure problems can
be solved remotely from the network operations centre (NOC).
ä Significant reduction (1/4th-1/5th compared to onsite) in problem resolution time from NOC assuring higher uptime
and better quality.
ä Cost savings for clients especially those outsourcing IMS for first time.
ä The vendors have been pushing for remote management due to higher profitability as compared to onsite
management. Remote resources are cheaper and could be deployed for multiple clients and attend (13-15 calls/daycompared to 4-5 calls/day onsite) higher number of calls/problems

Remote IMS is ~15% of Tech-IMS revenues for Glodyne
Currently, Remote IMS is ~15% of Tech-IMS revenues for Glodyne and has increased from a negligible contribution 2-3
years ago. This has been the single most important factor behind expansion in company’s operating margin from 11.6%
in FY06 to 18.2% in FY08.
Typically, IMS contracts are annual and pricing is based on assets managed
IMS services are provided under annual contracts, which are governed by strict SLAs (service level agreements) and
contains the uptime requirement (typically 97-99%). These contacts come up for renewal in the period of March-April-
May. In terms of pricing of the contracts, there has been a marked shift towards IT asset billing (US$xx/asset on
monthly or annual basis) from traditional manpower billing by global IMS vendors. An asset could be a desktop, server,
database, etc. The key reason behind this trend is the scalability and non-linearity of the former pricing model. As the
client’s IT assets increase, revenues for the vendor increases irrespective of whether additional manpower is deployed or
not. The client is mainly concerned about the uptime of his IT infrastructure. Further, clients’ sensitivity to pricing (in
context of switching between vendors) is lower compared to software services.
Penetrating an existing IMS account in three ways
Typically, an IMS vendor can penetrate a client or increase his wallet share in IMS budget in three ways:
ä By increasing the locations under service – For instance, starting with the main office of a BFSI customer and then
covering offices across state or country.
ä By increasing the number of asset under service – For instance, starting with managing 100 desktops and then
increasing the coverage number.
ä By increasing the type of assets under service - For instance, starting with desktop management and then managing
servers, database, security, etc.

Important alliances in place

Partner Nature of Partnership
SAP End-to-end enterprise applications services partner
Microsoft .NET Application Suite, development environment, desktop & server O/S
Oracle
Strategic relationship with Oracle for customized package development based on Oracle RDBMS. Glodyne is an Oracle
Technology Partner (OTN), the highest level in Oracle Technology.
Cisco Systems
Premier Partner of Cisco Systems for the entire range of its Networking products, specializing in providing enterprisenetworking
solution to its customers.
Sun Microsystems Platinum and iForce Partner as a privileged Sun ONE family member. Java J2EE Development Framework.
IBM Premium Business Partner for their Intel Servers, Laptops, Desktops and services
Glodyne has important alliances with leading global technology companies like Sun, IBM, Cisco, Oracle, Microsoft and
SAP. These alliances keep the company abreast about the latest technological developments and skill-sets apart from
providing direct business opportunities ie partnering with them for services in projects and indirect business
opportunities through reference/lead generation.

Pursuing inorganic growth opportunities actively

Links Group International Inc Front Office Technologies Inc
Acquired in March 2007 Acquired in October 2007
A Virginia based software services company A New York based IMS services company
Clients: Symantec, France Telecom/Orange Business, Openet,
Plateau, Equant Inc, etc.
Clients: Amex Bank, Stan C Bank, O & M worldwide, Bartle Bogle
Hegarty, Sotheby’s, Alchemy, etc.
Rationale: Client acquisition and cross-selling Remote IMS services
Rationale: Client acquisition and leveraging the onsite:remote delivery
model
Integration completed and the company is now
Glodyne Technoserve Inc
Integration is in process and the company is now Glodyne
Technoserve Inc
Clients added: 41 Clients added: 45

Over the last couple of years, Glodyne acquired two entities based in the US, Links Group International Inc (LGI) and
Front Office Technologies Inc (FOT). The former being a software services company, the key rationale behind its
acquisition was to cross-sell Remote IMS services to its esteemed clientele. Glodyne has already started providing
Remote IMS services to couple of LGI’s clients. The rationale behind FOT acquisition was to transition to Remote IMS as
FOT was a 100% onsite IMS services provider. Presently, Glodyne has already started providing Remote IMS services to
O&M Worldwide, one of the large clients of FOT. Company plans to pursue larger strategic acquisitions like these going
ahead.

Buoyant about growth potential of its HR solution

Glodyne has developed a complete HR information management solution called HrWorQ. It is a web-based solution
covering the entire employee lifecycle right from pre-recruitment to exit. With this solution, company intends to exploit
the domestic market for HR solutions, which is under-penetrated and does not have a choice of any complete solution
but individual modules like payroll processing solution, etc. Company intends to target the huge SME market in India by
offering HrWorQ on a SaaS (software as a service) model unlike the traditional license model. Under the SaaS model,
Glodyne would be hosting the web-based application governed by SLAs and charging the client on a per-person-permonth
basis. Presently, company is providing this solution on a SaaS basis to a financial services company in Mumbai
where it is charging Rs100-150 per-person-per-month.
Apart from above, company has also developed a core banking solution called FinWorQ. With this solution, company is
targeting the mid-sized and small-sized private banks and co-operative banks. As this solution cannot be provided on a
SaaS model due to regulatory restrictions, company would be selling it on the license model. All the costs associated
with development of the above two solutions have already been expensed.

NOC in Mhape; planning for an SEZ facility

Glodyne has a NOC in Mhape, New Mumbai, where 140-150 people work on 3-shift basis (24*7). It is fully occupied and
company is scouting for lease facilities nearby for meeting near-term growth requirements. For the long-term, company
is planning for an SEZ facility in Pune or Nagpur. The arrangement of the lease facility is critical for growth in the next
two years.

Manpower dynamics are different in Remote IMS

Presently, Glodyne employs ~650 people of which ~150 are in the US (including the recent acquisitions) and the rest
~500 are in India. In terms of segmental distribution, ~450 employees are in the Tech-IMS space with the balance
involved in ASS segment and support functions. According to the company, Remote IMS being a nascent service
offering, the salary levels and attrition levels are lower compared to traditional IT services. Glodyne offers Rs1.5-2lakh
pa to freshers (BE, BSC, MCS, etc) with relevant certifications. This is significantly lower than Rs3-3.25lakh pa salary
offered to freshers by large and mid-sized software companies. Further, the attrition for Glodyne is lower than industry
at 12%.

Company expects 45-50% organic growth in FY09

Based on the current revenue visibility, company expects organic revenues between Rs4.42-4.68bn in FY09 implying 44-
52% growth over FY08. Company, presently, has committed revenues to the tune of Rs2.4bn (50-55% of guidance)
from the recently renewed IMS contracts. With further shift towards Remote IMS, company expects operating expansion
by ~250-300 bps to 21-22% in FY09. For Q1 FY09, revenues are expected at Rs1-1.04bn representing 2-7% qoq
growth.

Targets Rs10bn revenue by 2010

Glodyne targets Rs10bn revenues by 2010 through both organic and inorganic growth. In 2010, it expects Tech-IMS to
form a far higher proportion (compared to 65% currently) of revenues due to its faster growth potential and
management’s focus. ASS segment would continue grow at industry rate. However, company cannot afford to ignore the
ASS segment as software capabilities are critical for winning large turnkey projects, which would include both IT
infrastructure and software management. Within Tech-IMS, Remote IMS is expected to contribute 50% as compared to
~15% at present. Operating profitability is estimated to expand to 24-25% with increase in Remote IMS share. In terms
of geography, company is looking at a revenue composition of US-40%, India-30% and Europe & Others–30%.

About the management

Mr. Annand Sarnaaik – Chairman & MD

Annand is the founder promoter of Glodyne. He holds a bachelor’s degree in Engineering and Master’s in Business

Administration from Jamnalal Bajaj Institute of Management Studies. Annand plays a key role in defining the company

strategy and in using technology and innovation continuously to achieve the company’s vision. He leads the company

efforts in growth strategy, alliances and corporate structuring, a recent instance being the acquisition of Links Group

International, Virginia & Front Office Technologies Inc by Glodyne.

Annand began his career in 1990 with HCL-HP Limited where he experienced the changing face of IT and recognized the

opportunities in the sector. With a desire to create a world class IT organization, he started Glodyne in the year 1997. In
2007, Annand was conferred with the prestigious “Udyog Rattan Award” by The Institute of Economic Studies, New
Delhi.

Mrs. Divvyani Sarnaaik – COO & ED

Divvyani is the co-founder of Glodyne. She overseas all the operating business units and is responsible for account
delivery management including people and operations management. Divvyani focuses on increasing competitiveness,
improving customer experience, improving employee engagement and increasing the depth of services. She has an
overall experience of about 16 years in IT and Finance.
Over the last 2-3 years, company has expanded its management bandwidth by attracting experienced people from Sun,
Lucent, etc, to join as head of sales, finance, software services and HR.


source :-visit note of india infoline

TOP SCRIPS TO BUY FOR LONG TERM (TECH SECTOR)

1. KLG Systel Ltd                    --- NOW355 ONE YEAR TARGET 1000

2.Glodyne Technoserve Ltd     --- NOW 475. ONE YEAR TARGET  1000 2YEARS 2000   3.Accentia Technologies Ltd    --- NOW 189  ONE  YEAR TARGET 500 ONYL FOR LONG  TERM

The secret behind great investments is `gutsy moves'

The masters don't gamble. "They invest deliberately and purposefully, and they outperform the average investor as a result."

Markets have been going down and up. If that makes you feel queasy, here is help. "You can achieve success in the stock market if you follow a set of well-defined investment principles and refuse to abandon them when the market acts irrationally," assures Scott Kays in 5 Key Lessons from Top Money Managers, from Wiley (www.wiley.com).

First check if you belong to the majority in the world of investment that comprises those who want hot stock tips. "Unwilling to learn the rudiments of investing, they invest in companies because `they've been going up.' The thrill of the action is as important to them as the profits they make." To them, investing is not about maximising the returns over time.

The minority are the few who study the art of investing "in a constant effort to increase their knowledge and improve their skills." Kays points out that these people take time to learn what matters when buying the stocks. "They don't gamble; they invest deliberately and purposefully, and they outperform the average investor as a result."

Chapter 1, titled `The return of common sense', reminds us that many complex investment strategies only veer investors away from the crux. "What kind of pattern is the stock's price chart forming? What was the stock's relative strength last week? The masters classify these questions as irrelevant distractions."

More right than wrong

Great investments are about `gutsy moves,' requiring the execution of the fundamentals, using `straightforward methodologies,' even as lesser mortals look for `something flashy, something unusual, to give them an edge.' The difference is simple: "The naïve talk of what should do well over the next few weeks; the masters consider the long term."

The author devotes a chapter each to five top money managers, beginning with Andy Stephens of Artisan Mid-Cap Fund. The art of portfolio management, the way Stephens does it, is to be right more than being wrong — at least to be right in a bigger way. "It's a trade-off between capitalising on opportunities and protecting my downside if I make a mistake," he says.

Structural competitive advantage that he seeks in enterprises has four components, viz. dominant market share, proprietary asset, lowest cost structure, and defensible brand. "Firms that possess two or more of these advantages will likely perform in the upper quartiles of their industries. Because their cash flow is safeguarded, investors can value these firms with a higher level of confidence."

Lessons from mother

Next expert is Bill Nygren of Oakmark Select Fund, who learnt all about investing from his mother. She kept the family on a strict budget, he remembers. "A true value shopper, she visited three supermarkets each week, checking out the specials they were each running... If an item was fully priced, she bought less of it or passed on it completely."

Kays notes that buying quality, undervalued-companies gets you only halfway to a successful investment experience. "Knowing when to sell a security is just as important. Fortunes have been lost because investors have tried to squeeze every penny out of winning situations and held on to positions long after they should have gotten rid of them."

Sell a company when its price reaches 90 per cent of its fair valuation, Nygren advises. "Liquidate a position when a company fails to perform fundamentally as you expected. If you realise you made a mistake, the sooner you admit it and deal with it, the more likely you will minimise its impact on your performance," are further insights of immense value.

No lottery tickets

The third expert that Kays introduces you to is Christopher C. Davis of Selected American Shares. The foundational principle he adopts to select securities is, "Stocks are not pieces of paper like lottery tickets, but they represent ownership interests in real businesses." Once you accept that, answer the following two questions: "What kind of businesses do you want to own? And, how much should you pay for them?"

According to Davis, "Businesses that grow their values at above average rates for long periods of time make the best investments." His three criteria of superior businesses are: Financial strength (as evidenced by a strong balance sheet and high returns on invested capital), competitive advantages (such as brands, patents and economies of scale), and shareholder-oriented management (with a strategic vision and a realistic plan).

To assess the last criterion, that is, shareholder orientation, Davis digs deep to understand `the thought process and logic' of the company managers' capital allocation decisions. "Before he invests in a company, he ensures that managers have a strong understanding of their cost of capital and the return they expect to achieve on investments."

Compound mystery

Bill Fries of Thornburg Value Fund, the fourth expert you encounter in the book, recounts how his eighth-grade teacher unlocked the mystery of compound interest, and sparked his interest in saving and earning money on money!

What is his investment technique? He divides his portfolio into three types, viz. basic value, consistent earners, and emerging franchisees. Fundamental research that he uses filters out for promise and discount. "A cheap stock can remain cheap indefinitely," he cautions. Identifying cheap stocks is easy; what's tough is "finding companies that can achieve a healthier than generally expected future."

Two core philosophies

The fifth expert is John Calamos Sr, of Calamos Growth Fund. His core philosophies are two. One, "to create wealth, you have to give up some of the upside to preserve capital on the downside." Calamos quips, "I'm long-term bullish, short-term scared, all the time." While the economy can create significant prosperity over time, "the stock market can drop unexpectedly at almost any moment," he warns. "When that happens, he wants to maintain his principal intact, even if that means missing out on some of the market's growth during the good times," explains the book.

His second philosophy reads, "No strategy works very well for very long, so you have to keep evolving your process." Calamos says there is no `magic quantitative equation' that works all the time. "If such a formula existed, everyone would use it and it would no longer work. What works at any point in time constantly shifts."

source:DEEPWEALTH

What Lessons Did You Learn Or Relearn From The Recent Market Crash?

The recent market correction has taught (again) every investor a thing or two. Although the recovery in the past weeks has given investors some relief, but some of the losses might as well be permanent loss of capital. We started a thread, ask our users to share the lessons he/she learned in the market crash. Hopefully all of us can learn from each other’s lessons and do better next time.

These are the summary of the lessons shared by our users. If you have something more, please feel free to add at the end of the article.

1. Only invest in what you understand

One of the key factors in investment decision making is how much confidence you have to your investment idea. Warren Buffett has taught us many times that we should only invests in simple businesses. If investors stays in their circle of competence, it is easier for them to build the higher level of confidence in the investment ideas. They will know better what to do if this idea declines another 30%.

2. Don’t settle for less

“I learned that if there aren't any good deals, there aren't any good deals. Don't try to convince yourself and change your standards if there is nothing that meets your criteria (undervalued, good business, good prospects, etc.).” Wrote user sleepyhungry.

One of reasons that our Guru Robert Rodriguez avoided the recent market crash is that he has an absolute value approach. In March 2006, he wrote: “As an example, the value screen that I have used for many years recently identified only 73 names, close to the record low of 47, out of a universe of 9,440 in the Compustat database. This screen included stocks with market capitalizations between $150 million and $3 billion. Of the 73 names, 53 were between $150 million and $1 billion. When I expanded the screen to include stocks with market capitalizations up to $20 billion, only 20 additional companies were identified.”

Considering that, Robert Rodriguez has been very cautious with market valuations. He and his fund did not buy any stocks since Nov. 2007.


3. Don’t Buy on Margin

Buy on margin helps you generate better returns when market is at your favor. However, market will never be in one direction. It can quickly erase your returns if things don’t work out. Worse yet, you may be forced to sell on margin calls, when it is the time that you should be buying.

4. Buy slowly and average down

Don’t be concerned that you will miss the opportunity and buy too quickly. Buy slowly. If you miss it, don’t try to catch up by paying a higher price. Buy slowly; Mr. Market will always give you another opportunity.

5. Mr. Market can also kill businesses

We have always learned that business valuation is independent of Mr. Market. But for companies that are highly dependent on capital market, Mr. Market’s sentiment can break the chain of operations of some business. Avoid companies that are highly leveraged and susceptible to Mr. Market’s sentiment.

Do not forget the lesson of Bear Stearns.

6. Always keep some cash

Staying fully invested helps your returns when the market is going up. But the benefits of holding some cash and buy on better opportunities may help even more. Bruce Berkowitz is willing to hold cash. He fund always holds about 20% of cash. Holding cash may hurt the overall performance if the market goes up, but he is willing to hold cash because he believes that a certain amount of liquidity in the Fund’s portfolio is desirable to take advantage of new investment opportunities. “No. 1, we don't have to sell that which is cheap [in order to] to buy that which is cheaper, especially companies that we have gotten to know and love. And No. 2, where there are special situations, we can act quickly.” He wrote.

Please add the lessons you have learned in the comment area. We may give an update on this article if users contribute better ideas.

source:-GuruFocus News

Aegis Logistics Ltd

Aegis Logistics is an India based company that provides logistics and warehousing services. It is broadly engaged in five businesses including port handling and storage; sourcing, marketing and distribution of chemicals; gas sourcing, storage and distribution; petroleum sourcing and distribution; and supply chain and logistics services. The company operates primarily in India. It is headquartered in Mumbai, India and employs 139 people.

The company recorded revenues of INR3,915.4 million (approximately $97.3 million) during the fiscal year ended March 2008. The net profit of the company was INR384.4 million (approximately $9.5 million) in the year ended 2008.

stock has fallen from 280 rs. consolidated at 170 level.stock is ready to spurt up to 225 near term .

after first quarter results on 29 june. just buy for short term

Maithan Alloys Ltd.

Maithan Alloys Ltd.- An ISO-9001:2000 company



Manufacturer of Ferro Manganese and Silico Manganese with combined annual production capacity of 80000 Tons.

Mainly catering the need of all major Steel Plants in India and supplying to overseas buyers throught own export wing

Furnace Capacity :
1 x 8.25 MVA submerged arc furnace
1 x 7.5 MVA submerged arc furnace
2 x 6 MVA submerged arc furnace


equity capital - 9.71 cr.

it has posted for 06-07 -150cr turnover and net profit of 11.96(e.p.s 11.96)

for 07-08- posted 378.43 cr turnover and net profit of 39.18 cr(e.p.s -40.03) .
for 08-09- first quarter posted 206.44 cr turnover and net profit of 31.44 cr(32.37e.p.s)


it was listed in bse only . it was listed on last may in bse. listed at 2230rs. on listing day close at 580on same day because of low liquidity public share holding only 5%
year low -178 rs
JUST BUY FOR SMART GAIN

TOPDividend Yield Stocks

Company- Ex Dividend - Dividend -CMP- Fv- DIV Yield- N. SalesQ4- N. ProfitQ4 -Eps -PE

1 Flex Foods 30/07/2008 20% 25 10 8.10% 40 7 5.6 4.4
2 Polyspin Exports 30/07/2008 7% 10 10 6.84% 36 1 1.3 8.0
3 Royal Orchid Hot 23/07/2008 60% 90 10 6.68% 86 31 11.3 8.0
4 GIC Housing Fin 16/07/2008 40% 62 10 6.49% 271 56 10.5 5.9
5 Barak Valley 17/07/2008 20% 32 10 6.20% 70 11 5.0 6.5
6 Valson Inds. 23/07/2008 25% 42 10 5.95% 61 2 4.6 9.2
7 Munjal Showa 17/07/2008 100% 34 2 5.81% 709 19 4.8 7.1
8 Hawkins Cookers 16/07/2008 100% 174 10 5.76% 204 11 21.3 8.2
9 Ador Welding 17/07/2008 80% 139 10 5.75% 261 23 16.6 8.4
10 NIIT Tech. 18/07/2008 65% 116 10 5.62% 445 143 24.4 4.7
11 PAE 17/07/2008 15% 27 10 5.48% 230 6 6.3 4.4
12 Atul 18/07/2008 30% 55 10 5.44% 1014 37 12.3 4.5
13 XPRO India 17/07/2008 15% 28 10 5.36% 129 0 0.3 91.9
14 Bhagiradha Chem 24/07/2008 25% 47 10 5.31% 82 7 13.0 3.6
15 Visaka Inds. 23/07/2008 30% 57 10 5.25% 433 8 4.8 11.8
16 Cosmo Films 16/07/2008 50% 97 10 5.18% 585 45 22.9 4.2
17 Natural Capsules 24/07/2008 10% 20 10 5.08% 20 3 5.8 3.4
18 Ashok Leyland 16/07/2008 150% 30 1 5.07% 7729 469 3.5 8.4
19 Jenburkt Pharma 23/07/2008 12.50% 25 10 5.06% 38 1 2.8 8.8
20 Z F Steering 22/07/2008 80% 158 10 5.06% 223 28 30.7 5.2
21 Guj. Borosil 21/07/2008 10% 10 5 5.02% 82 6 0.8 12.1
22 IP Rings 15/07/2008 25% 50 10 5.00% 54 3 3.6 14.1
23 Elnet Technolog 22/07/2008 20% 43 10 4.67% 16 4 9.2 4.7
24 AVT Natural Prod 16/07/2008 35% 76 10 4.61% 87 9 12.2 6.2
25 Blue Star Info. 22/07/2008 25% 54 10 4.60% 110 5 5.0 10.8
26 Albert David 23/07/2008 30% 67 10 4.51% 158 7 12.9 5.2
27 Transwarranty Fi 28/07/2008 10% 22 10 4.47% 6 2 1.7 13.3
28 Oriental Hotels 22/07/2008 105% 240 10 4.38% 216 43 24.4 9.9
29 Cheviot Company 31/07/2008 100% 231 10 4.32% 180 22 48.8 4.7
30 GTN Textiles 17/07/2008 6% 14 10 4.17% 109 1 1.0 14.4
31 NRB Bearings 24/07/2008 120% 58 2 4.16% 321 34 6.9 8.3
32 Karur Vysya Bank 16/07/2008 120% 296 10 4.05% 1134 208 38.6 7.7
33 Mayur Leather 31/07/2008 8% 20 10 4.00% 24 3 5.5 3.6
34 Everest Inds. 17/07/2008 40% 102 10 3.92% 285 14 9.7 10.5
35 Damodar Threads 31/07/2008 15% 38 10 3.92% 176 3 8.6 4.4
36 SKP Securities 17/07/2008 12.50% 33 10 3.84% 15 2 4.0 8.1
37 J K Cements Ltd 16/07/2008 50% 131 10 3.82% 1458 265 37.9 3.5
38 G G Dandekar 17/07/2008 300% 80 1 3.76% 17 4 7.7 10.4
39 Bank of Baroda 17/07/2008 80% 215 10 3.71% 11813 1436 39.3 5.5
40 Khaitan Chemical 17/07/2008 18% 49 10 3.70% 394 9 9.3 5.2
41 Harita Seating 30/07/2008 25% 70 10 3.60% 191 6 8.2 8.4
42 Tata Coffee 30/07/2008 70% 196 10 3.57% 307 25 13.2 14.8
43 Magna Electrocas 30/07/2008 21% 59 10 3.54% 54 4 8.6 6.9
44 Cravatex 16/07/2008 35% 99 10 3.54% 51 1 9.7 10.2
45 Central Bank 22/07/2008 20% 57 10 3.52% 7996 550 13.6 4.2
46 Cholamandalam DB 23/07/2008 40% 114 10 3.51% 891 59 11.4 10.0
47 Aeonian Invest. 18/07/2008 350% 199 2 3.51% 22 18 37.1 5.4
48 Hyd.Industries 08/01/2008 50% 143 10 3.51% 483 14 18.8 7.6
49 PRICOL 24/07/2008 60% 17 1 3.45% 606 19 2.1 8.2