11 June 2013

MARKETS TODAY WORLD INDICES & INDIAN ADRs (US$) 10-Jun-13

Indices are seen opening slightly down on weak cues from most overseas Latest Points % Chg. markets and persistent weakness in the rupee. On Mon, the rupee hit an all- NIKKEI 225 * 13513.3 (0.9) (0.0) time low of 58.15 against the dollar, keeping the sentiment for markets HANG SENG * 21394.6 (220.5) (1.0) neutral to slightly negative. Caution will also prevail ahead of India's IIP data DOWJONES 15238.6 (9.5) (0.1) for Apr and consumer price inflation data for May, due on Wed. Resistance is NASDAQ 3473.8 4.6 0.1 seen at 5942 levels & support is seen at 5870 levels. Stocks to watch: SGX NIFTY FUT* 5859.0 (48.0) (0.8) Videocon Inds, TechM, , GMR Infra. Data watch: India auto INFY 43.1 0.1 0.2 sales, UK industrial output, US retail sales. HDFC BANK 42.7 3.5 8.9 ICICI BANK 38.3 (5.9) (13.4) KEY OVERNIGHT DEVELOPMENTS TATA MOTORS 27.5 1.0 3.9 Wall street ended nearly flat on Mon after a choppy session, which saw the WIPRO 7.5 (0.1) (1.3) market rise briefly after Standard & Poor's raised the US sovereign credit TATA COMM. 6.6 0.0 0.0 outlook to "stable" from "negative". Key Asian markets were weak, with * At 08:20 a.m. IST on 11-Jun-13 Japan's Nikkei trading nearly flat ahead of the outcome of Bank of Japan's two-day meeting, which will conclude today. MUST KNOW….  VA Tech Wabag Ltd has received an order worth Rs.1.15 bn from the EQUITY 10-Jun-13 metropolitan water supply and sewage board. VA Tech Wabag will Latest 1 Day P/E* P/B* construct pumping stations and pipeline works for water supply and SENSEX 19,441.1 0.1 18.0 2.7 NIFTY 5,878.0 (0.1) 16.9 2.5 sewerage schemes in , under the Chennai Mega CNXMIDCAP 7,701.3 (1.3) 15.5 1.4 City Development Project. *Source: Bloomberg  The joint venture between Reliance Broadcast Network and RTL Group will COMMODITIES begin its English feed from Wed in 12 key markets in India including Latest Points % Chg. Mumbai and Delhi. The channel's content is targeted at male audiences GOLD 1386.5 3.5 0.3 aged between 15 years and 44 years, Reliance Broadcast said. CRUDE OIL 95.8 (0.3) (0.3)  GMR Airports Ltd, subsidiary of GMR Infrastructure Ltd, has acquired

FII ACTIVITIES IN DERIVATIVES 10-Jun-13 17.03% stake in Delhi Duty Free Services Pvt Ltd, which operates, maintains FII Net Buy (Rs. Open Ch. in Open and manages the Duty Free Outlets at Indira Gandhi International Airport. Crs) Interest Int. (DOD)  Hindustan Copper Ltd has raised the basic price of its copper products by Index Futures (2.3) 6770.3 (1.4) an average 1.47% for Jun. Index Options 1147.9 51905.2 2.0

Stock Futures 74.9 28543.0 0.3  Foreign tourist arrivals in India rose 3.2% on year to 0.384 mn in May, the tourism ministry said. Sequentially, the arrivals in May were 15.0% lower Stock Options 21.2 1679.7 4.2 than 0.452 mn a month ago. The arrivals in Jan-May, the first five months NET INFLOWS (Rs. Crs.) 7-Jun-13 of 2013, rose 2.1% to 2.863 mn. Foreign tourist arrivals in India had risen NET MTD YTD 5.4% to 6.648 mn in 2012. FII 634.6 1249.3 82268.4 MF 132.0 (197.7) (12272.6)  Larsen and Toubro Ltd said its consortium with Japan's Sojitz Corp has won *YTD From January till date a contract worth Rs.67 bn from Dedicated Freight Corridor Corp of India Ltd EXCHANGE RATE 10-Jun-13 for construction of a portion of the western freight corridor. Closing % Chg.  State-owned Power Grid Corp of India Ltd said it has signed agreements Rs. / $ 57.1 0.38 Rs. / EURO 75.7 1.52 with six states in the north-eastern region to provide technical and Rs. / UK Sterling 88.9 1.26 managerial support for improving their respective intra-state transmission

and distribution system. The agreement, signed with Assam, Meghalaya, G.SEC. YIELD 10-Jun-13 Mizoram, Manipur, Nagaland, and Tripura, aims at improving grid Rate Yield (%) connectivity and enhancing the "states' capability to supply power to larger GS CG2022 8.15% 99.2 7.3 section of consumers with economy and reliability," a company release said. The project cost is estimated at Rs.81.50 bn. Please refer to important disclosures at the end of the report For private Circulation Only. Sushil Financial Services Private Limited Member BSE1 : SEBI Regn.No. INB/F010982338 | NSE : SEBI Regn.No.INB/F230607435. Regd. Office : 12, Homji Street, Fort, Mumbai 400 001. Phone: +91 22 40936000 Fax: +91 22 22665758 Email : [email protected]

Corporate Announcements  VA Tech Wabag Ltd has received an order worth Rs.1.15 bn from the Chennai metropolitan water supply and sewage board, the company said in a notice to the stock exchanges. VA Tech Wabag will construct pumping stations and pipeline works for water supply and sewerage schemes in Sholinganallur, Karapakkam under the Chennai Mega City Development Project, the company said. The completion time for the water supply segment of the project is set at two years, while the sewerage segment is scheduled to be completed in 30 months, the company said.

 The joint venture between Reliance Broadcast Network and RTL Group will begin its English feed from Wed in 12 key markets in India including Mumbai and Delhi, the former said in a notice to the stock exchanges. The channel's content is targeted at male audiences aged between 15 years and 44 years, Reliance Broadcast said.

 Shareholders of YES Bank Ltd on Sat approved raising $500 mn, or its rupee equivalent, through various routes including global depository receipts. In a notification to the stock exchanges, YES Bank said it will also raise funds via qualified institutional placement and domestic institutional investors in the current year. "This (fund raising through various routes) would be in accordance with the bank's financial strategy to broad based and diversify its capital sources across all investor classes and deepen the shareholder register," the bank said.

 20 Microns Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on Jun 17, 2013, to consider and approve issue and allotment of Fully Convertible Debentures on a preferential basis.

 Reliance Ports and Terminals Ltd has informed BSE that a meeting of the Board of Directors of the Company held on Jun 06, 2013, the Board of Directors has, inter alia, approved the Issue of Secured Redeemable Non- Convertible Debentures - PPD 5 aggregating Rs.4000 Crore.

 GMR Airports Ltd, subsidiary of GMR Infrastructure Ltd, has acquired 17.03% stake in Delhi Duty Free Services Pvt Ltd, which operates, maintains and manages the Duty Free Outlets at Indira Gandhi International Airport. Delhi Duty Free Services operates outlets at the airport under concession from Delhi International Airport Pvt Ltd for a 15-year period till 2024-25. Delhi International Airport holds 49.9% stake of Delhi Duty Free Services, while Irish firm Yalorvin Ltd holds 33.07% stake, GMR said in a filing to the exchanges. The company, however, did not provide the financial details of the deal.

 Hindustan Copper Ltd has raised the basic price of its copper products by an average 1.47% for Jun, a circular on the company's website said. The company usually aligns its product prices with the trend on London Metal Exchange. The company has hiked price of cut copper cathode to Rs.433,330 per tn this month from Rs.427,037 in May, and that of full copper cathode to Rs.431,830 per tn from Rs.425,537 earlier. Prices of continuous cast rods have been increased to Rs.438,447-441,186 per tn from Rs.432,075- 434,788 earlier.

 Oriental Bank of Commerce has cut rates on 270 days to 10 year domestic term deposits of less than Rs.10 mn by 25 basis points, the bank said in a notice to the exchanges. The bank has also cut the rate on 270 days to below one-year term deposits by 25 bps to 8.25%. For term deposits between one year and 10 years, Oriental Bank has slashed the rates by 25 bps to 8.75%.

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 The Group of Ministers headed by Finance Minister P. Chidambaram will discuss on Tues the revival strategy for state-run telecom operators Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, a government official said. "Tomorrow is the Group of Ministers' meeting on BSNL and MTNL revival plan," the official told. The government is looking at various ways to make viable these loss-making companies, whose products have become outdated. The Department of Telecommunications has also raised the issue of merging the two companies. The department of disinvestment has suggested that if central public sector units such as MTNL have to survive without banking too much on taxpayers' money, they need to find joint venture partners with minority and majority stake or get disinvested to maintain pace with technology. The net loss for BSNL for the year 2012-13 stood at around Rs.75-85-bn and Rs.53.22 bn for MTNL during the same period.

 Foreign tourist arrivals in India rose 3.2% on year to 0.384 mn in May, the tourism ministry said. Sequentially, the arrivals in May were 15.0% lower than 0.452 mn a month ago. The arrivals in Jan-May, the first five months of 2013, rose 2.1% to 2.863 mn. Foreign tourist arrivals in India had risen 5.4% to 6.648 mn in 2012. Foreign exchange earnings from tourism in May were $1.11 bn, up 8.4% on year, the ministry said. Foreign exchange earnings from tourism in Jan-May were $7.99 bn, up 9.5% on year.

 Compact Disc India Ltd has informed BSE that Pariscope Financial Advisors Pvt. Ltd., a promoter group Company has purchased 61,008 equity shares of the Company during the week from Jun 03, 2013 to Jun 07, 2013.

 Larsen and Toubro Ltd said its consortium with Japan's Sojitz Corp has won a contract worth Rs.67 bn from Dedicated Freight Corridor Corp of India Ltd for construction of a portion of the western freight corridor. The order involves construction of 626 km of a double track corridor from Rewari in Haryana to Iqbalgarh in Gujarat, through Rajasthan, L&T said in a release. The scope of work includes construction of 1,400 km of railway line, 50 major and 1,250 minor bridges, 20 stations along with supply of all associated equipment. The project is expected to be completed in four years, said L&T. This is part of the 1,490-km western corridor proposed between Dadri near Delhi and Jawaharlal Nehru Port Trust near Mumbai. The western corridor project will be funded by Japan International Cooperation Agency. Dedicated Freight Corridor Corp is a special purpose vehicle of the Indian Railways, mandated to build dedicated freight corridors. L&T said around 150,000 tn of steel rails will be imported from Japan. "The track will be designed for 25 MT (tn) axle load to run double-stack containers dedicated for freight," said the release. L&T expects the Rewari- Iqbalgarh section contract will pave the way for finalisation of other packages which are in various stages of the bidding process.

 State-owned Power Grid Corp of India Ltd said it has signed agreements with six states in the north- eastern region to provide technical and managerial support for improving their respective intra-state transmission and distribution system. The agreement, signed with Assam, Meghalaya, Mizoram, Manipur, Nagaland, and Tripura, aims at improving grid connectivity and enhancing the "states' capability to supply power to larger section of consumers with economy and reliability," a company release said. The project cost is estimated at Rs.81.50 bn. Of that, the World Bank has agreed to consider covering 85% with an umbrella loan of $1.5 bn rupees. The loan from the World Bank is to come in three tranches of $500 mn each and the first tranche is likely to be completed over the next four years, followed by two more parts with a gap of about one year each, the release said. States will contribute 5% of the cost as equity and the remaining 10% would be provided by the central government, the release said.

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 The Supreme Court refused to interfere with the National Green Tribunal's order allowing Sterlite Industries (India) Ltd to restart operations of its Tuticorin copper smelting unit that accounts for around 55% of India's copper production.

 The Supreme Court deferred to Wed the hearing on a public interest litigation seeking directions to cancel manufacturing licence issued to Ranbaxy Laboratories Ltd and prosecute its directors for allegedly selling "adulterated medicines". The bench asked the petitioner advocate to produce some documents to prove the allegation that the drugs sold by the Ranbaxy in India are adulterated.

 EID Parry India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on Jun 10, 2013, have approved a Scheme of Amalgamation pursuant to which Sadashiva Sugars Limited, a wholly owned subsidiary Company (transferor company) of E.I.D.- Parry (India) Limited (the company) will be amalgamated with E.I.D.- Parry(India) Limited (transferee Company) Sadashlva Sugars Limited (SSL), being a wholly owned subsidiary of the Company and the entire equity share capital of Sadashiva Sugars Limited (SSL) being held by the Company, there is no issue of equity shares by the transferee company pursuant to the scheme.

 Bharti Airtel Ltd has hiked base pre-paid call rates of select plans in Mumbai circle by up to 60% and increased call rate of one tariff plan in Andhra Pradesh circle by 20% to 1.2 paise per second. According to tariff data, the company has tweaked select pre-paid tariff plans in Mumbai circle through undertaking hikes in base rate as well reduction in pulse rate. For tariff plan 34 and FR 72, the company is now offering tariff at 1.2 paise per 2 seconds for Airtel to Airtel mobile compared with 1.2 paise per 3 seconds offered earlier. For tariff plan FR 69, the company has hiked Airtel to Airtel mobile tariff rate to 30 paise per minute compared with 25 paise per minute offered earlier, while Airtel to fixed line call rate has been hiked to 40 paise per minute from 25 paise per minute offered earlier. For tariff plan 83, the tariff rate for Airtel to Airtel mobile has been increased to 30 paise per minute from 20 paise per minute, while Airtel to fixed line call rate has been hiked to 40 paise per minute from 30 paise per minute offered earlier. In Andhra Pradesh circle, under Plan Voucher 153, pre-paid local and STD calls have been hiked by 20% to 1.2 paise per second.

 The Bombay High Court has directed YES Bank to discuss the name of any candidate for board director nominated by Madhu Kapur, widow of founder-promoter Ashok Kapur at a board meeting before Jul 27, said a release from the bank. The bank is ready to discuss such a proposal from Madhu Kapur, said the release. This is in sharp contrast to the stand taken by the bank since 2009, when its board had twice rejected Madhu Kapur's daughter Shagun Kapur Gogia's nomination to the board citing lack of adherence to the 'fit and proper' criteria set by the .

 Surana Ventures Ltd has informed BSE that the Board of Directors Company at its Meeting held on May 06, 2013 resolved to divest its stake in its subsidiary M/s. Surana Solar Systems Private Limited. The said transaction completed on Jun 10, 2013. Hence M/s. Surana Solar Systems Private Limited ceased to be a subsidiary of the Company.

 Surana Telecom and Power Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 08, 2013, resolved to acquire shares in M/s. Surana Solar Systems Private Limited. The said transaction completed on Jun 10, 2013 by acquiring 9, 990 Equity Shares representing 99.90% of total paid up equity capital of M/s. Surana Solar Systems Private Limited resulting in subsidiary of M/s. Surana Telecom and Power Limited w.e.f. Jun 10, 2013.

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 Kovalam Investment & Trading Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on Jun 20, 2013, inter alia, to consider; 1. To increase the Authorized Share Capital of the Company. 2. To Issue Bonus shares to public shareholders, with promoters/promoter group shareholders forgoing their bonus entitlement, to comply with Minimum Public Shareholding (MPS) requirement as per clause 40A of the listing agreement.

 Pennar Industries Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on Jun 10, 2013, keeping in view of the current satisfactory operations of the Company and to maximize returns to investors and enhance overall shareholder value by returning surplus funds to shareholders in an investor-friendly manner and as an efficient mechanism for providing an exit opportunity to those shareholders who desire to do so, in a manner that does not substantially impact the market price of the Company's shares to the detriment of the continuing shareholders and expecting the Buyback also to enhance the earnings per share of the Company in future and create long-term shareholder value, has approved Buy back of the Company's fully paid-up equity shares of Rs.5 each from open market through the Stock Exchange mechanism for an amount not exceeding Rs.10 Crores at prevailing market price on the Stock Exchanges subject to a price not exceeding Rs.40 per equity share and subject to a maximum of 40,00,000 equity shares and minimum of 10,00,000 equity shares, in accordance with the provisions contained in the Articles of Association, Section 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956 and the provisions contained in the Securities and Exchange Board of India [Buy Back of Securities] Regulations 1998 including any statutory modifications and amendments from time to time for the time being in force.

 Tata Steel Ltd has informed BSE that the Board of Directors has appointed Mr. O.P. Bhatt as an additional non executive independent director on the Board of the Company with effect from Jun 10, 2013.

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Information of Bulk Deals – 10th Jun 2013 on BSE Scrip name Name of Client BUY (B) / Quantity Trade Price/ SELL (S) Shares W Avg. Price Ace Edutrend Sumati Garg S 71,100 31.43 Akl Sof Info Maheshchandra Chunilal Shah B 2,011,029 0.54 Allied Comp Anees Alnasir Gilani B 1,000,000 0.42 Allied Comp Coastal Fertilisers Limited S 883,636 0.42 Clarus Finance Gujarat Fluorochemicals Limited S 150,000 34.3 Clarus Finance Moonview Vintrade Private Limited B 150,000 34.3 Ifl Promoters Abhay Dattatray Javlekar B 61,900 14.1 Ifl Promoters Jitender Kumar Tokas S 146,900 14.15 Ifl Promoters Tripta Manchanda S 60,000 14.1 Jk Sugar New Millenium Technology Management Ltd S 121,500 16 M And B Switchgears Gajanan Enterprises B 1,117,082 21.4 Media Matrix Ramesh Kumar Jian B 7,500,000 2.75 Media Matrix V And A Ventures Llp S 7,500,000 2.75 Pg Electroplast Vora Jinalben Bhavikbhai B 150,000 54.15 Presha Met Neeraj Prakash S 147,000 50.13 Rts Power Bhutoria Transformers & Rectifiers Pvt. Ltd. B 50,000 15.55 Rts Power Blb Cables & Conductors Pvt. Ltd. S 50,000 15.55 Stampede Gajanan Enterprises S 170,000 109.31 Stampede Sonpori Securities Private Limited B 122,500 109.5 Sujana Metal Sparrow India Diversified Opportunits Fund I Gdr S 1,000,000 1.15 Zen Tech Rakesh Radheyshyam Jhunjhunwala S 450,000 70 Zen Tech Rekha Rakesh Jhunjhunwala S 450,000 70 Zen Tech Zen Technologies Limited B 892,405 70

Information of Bulk Deals – 10th Jun 2013 on NSE Scrip name Name of Client BUY (B) / Quantity Trade Price/ SELL (S) Shares W Avg. Price Magma Fincorp Limited Clsa (Mauritius) Limited S 4916706 92.75 Magma Fincorp Limited Goldman Sachs Singapore Pte B 5162246 92.79 Nucent Finance Ltd. Mamta Sehgal S 162500 14.78 Nucent Finance Ltd. Mridul Securities Private Limited B 262540 14.75 Nucent Finance Ltd. Praveen Kumar Agarwal S 100000 14.7 Opto Circuits (India) Lim Natwest Bk Plc As Trustee Of The Jupitr India Fnd S 1808310 23.35

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Declaration made under SEBI (Insider Trading) Regulation 2002 Company Name Name of Acquirer / Seller Transaction Buy / No. of Shares Holding after Date Sell Transacted Transaction Qty% Qty% Aarti Industries Ltd Anushakti Holdings Ltd 23/04/2013 B 24500 6325173 7.99 Archidply Industries Ltd Vanraj Suppliers Pvt Ltd 12/3/2013 B 94346 AXIS Bank Ltd Bapi Munshi 2/5/2013 S 3000 25300 AXIS Bank Ltd P J Oza 2/5/2013 S 5741 11846 AXIS Bank Ltd P Mukherjee 2/5/2013 S 3000 29866 AXIS Bank Ltd S K Mitra 2/5/2013 S 2483 22000 AXIS Bank Ltd Sanjeev K Gupta 2/5/2013 S 1000 7916 AXIS Bank Ltd Sanjeev K Gupta 30/04/2013 S 1500 8916 AXIS Bank Ltd Sarabjit Singh Bajaj 2/5/2013 S 2000 65000 BF Investment Ltd Sundaram Trading&Investmen Pvt Ltd 30/04/2013 B 11284 3931356 10.44 Bhrt Bhsn Shr&Com Brkrs Ltd Vijay Bhushan 22/04/2013 B 300 785337 23.23 Chambal Fertiliser&Chem Ltd Arhant V Nopany Benefit Trust B 15000 Chambal Fertiliser&Chem Ltd Urvi Nopany 17/04/2013 B 30000 40000 Gruh Finance Ltd Prafull Anubhai 23/04/2013 S 2400 25000 0.01 HDFC Bank Ltd Anil Nath 2/5/2013 S 4000 171770 HDFC Bank Ltd Parag Rao 30/04/2013 S 3000 10000 HDFC Bank Ltd Rajender Sehgal 2/5/2013 S 21000 42740 HDFC Bank Ltd Sanjay Dongre 2/5/2013 S 2000 179555 HDFC Bank Ltd Sanjay Dongre 29/04/2013 S 1000 181555 HDFC Bank Ltd Surinder Chawla 30/04/2013 S 2000 295075 Indusind Bank Ltd Anish Behl S 8591 30000 Kanishk Steel Industries Ltd Kanishk Gupta 17/02/2013 B 25532 378256 1.33 Kanishk Steel Industries Ltd Kanishk Gupta 20/03/2013 B 29356 407612 1.43 Kanishk Steel Industries Ltd Kanishk Gupta 30/01/2013 B 28259 352724 1.24 KCP Sug&Industries Corp Ltd Durgamba Investment Pvt Ltd 30/04/2013 B 9000 43049156 37.97 Khaitan Electricals Ltd Khaitan Lefin Ltd 9/6/2010 B 245865 2974906 Khaitan Electricals Ltd Khaitan Lefin Ltd 24/12/2010 B 274922 3249828 Khaitan Electricals Ltd Khaitan Lefin Ltd 4/7/2012 B 231260 3481088 Kirloskar Brothers Invest Ltd Alpana Kirloskar 30/04/2013 B 15 227779 4.31 Kirloskar Brothers Invest Ltd Jyotsna G Kulkarni 29/04/2013 B 88 227738 4.31 Lupin Ltd Aditya Zutshi 12/4/2013 S 2250 995 Lupin Ltd Avijit Bhakat 22/04/2013 S 250 7250 Lupin Ltd Nita Borkar 23/04/2013 S 1000 4700 Lupin Ltd P S Praveen Kumar 30/04/2013 S 1750 Lupin Ltd Pritesh R Upadhyay 30/04/2013 S 300 24271 Lupin Ltd Pritesh R Upadhyay 30/04/2013 S 300 24571 Lupin Ltd Pritesh R Upadhyay 30/04/2013 S 300 24871

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Lupin Ltd Pritesh R Upadhyay 30/04/2013 S 300 25171 Lupin Ltd Vijaykumar A Kothiwale 22/04/2013 S 500 9000 Manjushree Technopack Ltd Rajat Kedia 30/04/2013 B 1373 119057 0.87 Manjushree Technopack Ltd Rajat Kedia 30/04/2013 B 2560 121617 0.89 Manjushree Technopack Ltd Vimal Kedia 30/04/2013 B 4687 571967 4.22 Manjushree Technopack Ltd Vimal Kedia 30/04/2013 B 5118 577085 4.26 MBL Infrastructures Ltd MBL A Capital Ltd 25/04/2013 B 10600 0.06 3952342 22.57 Orbit Exports Ltd Anisha Seth 2/5/2013 B 13500 1378395 10.36 Pipavav Def&Offs Eng Co Ltd SKIL Shipyard Holdings Pvt Ltd 26/04/2013 B 144694 35053468 4.99 Pipavav Def&Offs Eng Co Ltd SKIL Shipyard Holdings Pvt Ltd 29/04/2013 B 288771 35342239 5.04 Radhe Developers India Ltd Ashish P Patel 13/03/2013 B 15422 2085987 8.28 Radhe Developers India Ltd Ashish P Patel 14/03/2013 B 24000 2109987 8.38 Radhe Developers India Ltd Ashish P Patel 23/04/2013 B 1600 2120124 8.42 RDB Rasayans Ltd Sheetal Dugar 23/04/2013 B 100 4118266 23.24 Reliance Industries Ltd M L Bhakta 26/04/2013 B 10000 330000 Rishiroop Rubber Internat Ltd Rishiroop Holding Pvt Ltd 26/04/2013 B 1410 0.01 1524089 12.87 Sumeet Industries Ltd Somani Overseas Pvt Ltd 16/04/2013 B 211916 0.36 7692000 13.2 Sumeet Industries Ltd Sumeet Kumar Somani 15/04/2013 B 25000 0.04 1118362 1.92

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Rating Scale This is a guide to the rating system used by our Institutional Research Team. Our rating system comprises of six rating categories, with a corresponding risk rating. Risk Rating Risk Description Predictability of Earnings / Dividends; Price Volatility Low Risk High predictability/ Low volatility Medium Risk Moderate predictability / volatility High Risk Low predictability/ High volatility

Total Expected Return Matrix Rating Low Risk Medium Risk High Risk Buy Over 15 % Over 20% Over 25% Accumulate 10 % to 15 % 15% to 20% 20% to 25% Hold 0% to 10 % 0% to 15% 0% to 20% Sell Negative Returns Negative Returns Negative Returns Neutral Not Applicable Not Applicable Not Applicable Not Rated Not Applicable Not Applicable Not Applicable

Please Note  Recommendations with “Neutral” Rating imply reversal of our earlier opinion (i.e. Book Profits / Losses). ** Indicates that the stock is illiquid With a view to combat the higher acquisition cost for illiquid stocks; we have enhanced our return criteria for such stocks by five percentage points. “Desk Research Call” is based on the publicly available information on the companies we find interesting and are quoting at attractive valuations. While we do not claim that we have compiled information based on our meeting with the management, we have taken enough care to ensure that the content of the report is reliable. Although we have christened the report as “Desk Research Calls” (DRC), we intend to release regular updates on the company as is done in our other rated calls.

For any information or suggestion, please contact the below mentioned… Vatsal Shah ([email protected]) Nishita Shah ([email protected]) Bhaveshkumar Jain ([email protected])

Sushil Financial Services Private Limited Member BSE: SEBI Regn.No. INB/F010982338 | Member NSE: SEBI Regn.No.INB/F230607435. Office: 12, Homji Street, Fort, Mumbai 400 001. Phone +91 22 4093 6000 Fax +91 22 2266 5758

Additional information with respect to any securities referred to herein will be available upon request. This report is prepared for the exclusive use of Sushil Group clients only and should not be reproduced, re-circulated, published in any media, website or otherwise, in any form or manner, in part or as a whole, without the express consent in writing of Sushil Financial Services Private Limited. Any unauthorized use, disclosure or public dissemination of information contained herein is prohibited. This report is to be used only by the original recipient to whom it is sent. This is for private circulation only and the said document does not constitute an offer to buy or sell any securities mentioned herein. While utmost care has been taken in preparing the above, we claim no responsibility for its accuracy. We shall not be liable for any direct or indirect losses arising from the use thereof and the investors are requested to use the information contained herein at their own risk. This report has been prepared for information purposes only and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. The information, on which the report is based, has been obtained from sources, which we believe to be reliable, but we have not independently verified such information and we do not guarantee that it is accurate or complete. All expressions of opinion are subject to change without notice. Sushil Financial Services Private Limited and its connected companies, and their respective directors, officers and employees (to be collectively known as SFSPL), may, from time to time, have a long or short position in the securities mentioned and may sell or buy such securities. SFSPL may act upon or make use of information contained herein prior to the publication thereof. 9