Top 50 stocks in which promoters are buying stake as per march 2010 shareholding pattern

list of Top 50 stocks in which promoters are buying stake as per march 2010 shareholding pattern
Promoters increasing stake is the Biggest sign of promoters confidene in stock
we are not talking about notional buying of shares by promoters
we are giving list of 50 stocks in which promoters have invested big chunk of money in company’s stock
TOP 50 COMPANIES IN WHICH PROMOTERS ARE BUYING SHARES

Share	Promoters holding % as on 31/12/2009	Promoters holding % as 31/03/2010
Cimmco	22.52	88.45
Wall Street Fin.	2.53	62.14
Nivedita Mercant	12.45	65.59
Inwinex Pharma.	31.21	74.85
BKV Industries	29.67	71.03
Asian Oilfield	5.95	40.04
Shreeom Trades	40.32	74.02
Uttam Galva	44.22	70.81
JP Power Ven.	63.34	87.7
Indo Zinc	39.13	60.9
Umang Dairies	54.2	74.95
Micro Inks	75	92.46
Zenith Birla	33.55	50.45
Prism Cement	61.74	74.87
Regency Ceramics	45.94	57.35
IVRCL Assets	77.01	88.07
Ruchi Soya Inds.	36.24	46.89
Manap.Gen.Fin.	30.37	40.98
Elgi Equipment	24.2	32.85
Vardhman Hold.	67.1	74.9
BSL	49.69	56.44
Sujana Towers	33.01	38.79
Strides Arcolab	25.69	30.81
Sterlite Tech.	43.52	48.63
Surya Roshni	24.13	29.13
Reliance Infra.	37.75	42.73
Ahlcon Parent(I)	61.64	66.57
Step Two Corp.	40.59	45.48
Mukand Engineers	47.14	52.02
Orchid Chemicals	21.17	26
Infomedia 18	43.32	48.11
Kemrock Inds.	34.85	39.62
Bajaj Hindusthan	37.07	41.79
IT People	24.44	29.15
Ramkaashyap Inv.	1.14	5.77
Gammon India	23.41	28.04
J D Orgochem	50.94	55.46
Rathi Steel	42.21	46.7
TCFC Finance	55.33	59.81
Softpro Systems	46.99	51.36
Sujana Univ. Ind	15.25	19.48
Digjam Ltd	26.81	31.03
Tata Inv.Corpn.	65.82	69.98
Surana Corp.	46.76	50.86
Welspun India	44.1	48.03
Rana Sugars	19.62	23.49
Asian Tea & Exp	50.15	53.93
Bombay Rayon	31.54	35.08
Apcotex Industri	53.57	57.11
Vakrangee Soft.	19.1	22.63

High promoter holding cos beat peers in returns race

UNTIL recently,investment advisors were apprehensive of investing money in companies with low free-float (non-promoter holding).However,model investment portfolios of investors are changing structurally,as companies with high promoter holdings are yielding better than companies with low promoter holding and government undertakings.
In the past three years,A-group companies (with high promoter holding) like Sesa Goa,Shree Renuka Sugar,Jindal Steel,Bhushan Steel,Shriram Transport,Welspun Gujarat have returned 180-845 %.Index stocks and sector frontliners,where promoters hold equity stake between 30% and 80%,like Tata Steel,TCS,M&M,Wipro,Bharti Airtel,Hindalco,Grasim Industries,Tata Motors and ACC have averaged a 20% compunded return over the past three years.
Some market watchers say three-year returns may not be a fair benchmark,as the market was passing through a recessionary phase and also witness to index selling pressure during the considered period.But there are others who feel companies headed by entrepreneurs and family-owned businesses (FOBs) tend to do well over a longer time.Different ownership structures lead to different performances.Companies with higher promoter holding with sound management experts at the top outperform multinational companies and PSUs over a longer term,they opine.
Family firms are the fastest-growing companies in India,with profits growing at almost 30% over an eight-year period.There is potential for several FOBs to double their growth over the next few years, said Bharat Shah,CEO,ASK Investment Managers.Highlighting this conviction,ASK Wealth has also launched a Indian Entrepreneurship Portfolio (a PMS scheme starting at Rs 50 lakh) for its wealthy clients.
If one analyses market shareholding data,family firms comprise nearly 70% of Indias market capitalisation.The belief,among experts favouring high promoter shareholding companies,is that FOBs have higher operating margins than their PSU or MNC peers.The returns on equity on all the three categories PSUs,MNCs and FOBs are converging to more or less to similar levels,with MNCs showing a downtrend.FOB-backers also list sound capital efficiency and aggressive capex plans (initiated by high promoter holding companies) to strengthen their claims.The logical conclusion (among backers of family businesses) is that promoters having large shareholding will be more concerned about their business than a trust-appointed CEO.
The flip-side,however,is that FOBs could be vulnerable to nepotism and biased approach,corporate governance issues,capital allocation problems and control retention concerns.The quality of management team and corporate governance take precedence over the level of promoter holdings.While high promoter holdings may reflect their confidence in the business prospects,it also brings about liquidity issues due to relatively lower float, said Sivasubramanian KN,head-equity portfolio management,Franklin Templeton Investments.
According to Mr Sivasubramanian,performance would depend on the size of business and the specific dynamics of a sector.While MNCs have underperformed Indian companies in the pharma sector,FMCG companies like Nestle are putting up a relatively strong performance.BHEL is a good example of a PSU company doing relatively well,he added.

5 financial parameters to shortlist a wonderful company

wonderful business worth investing in has 3 important characteristics: An Excellent Financial Track Record, A Sustainable Moat and Respectable Management. The first one – An Excellent Financial Track record – is a Go/No-go criterion and hence is critical. It will prevent you from investing in the wrong companies and losing money.

So, what comes to your mind when we talk about company financials?

A big, fat, 100-page Annual Report with reams of data that leave most of us confused! It seems too difficult, too complex, needing too much time – which you don’t have! However, truth is always simple. Let us now see a simple and powerful lens through which we can identify companies with an Excellent Financial Track record. The answer is Stock Shastra #3: You just need to look at 5 Financial Parameters to shortlist a wonderful company!

From all the 100+ parameters, all you need are just 5 of them! Earnings per share (EPS); Net Sales; Book Value per share (BVPS); Return on Invested Capital (ROIC); and, Debt-to-Net Profit ratio. Seen together and over 10 years these 5 reveal the truth. Let’s see how!

The truth-revealing 5 Financial parameters

What is the first thing that you will look for in a company before investing? You will check whether it is making Profits, consistently! Since we will be shareholders, we need to look at the profit it earns per share. Hence the first parameter to look for is EPS – Earnings per Share.

How can a company continue to earn profits year after year? By selling more and more every year. Hence, the second parameter to look for is Net Sales.

To increase its sales in the long run, a company will need to expand its capacity. Book Value per Share, BVPS tells us how much a company is investing in expanding its capacity. That’s the third parameter.

Companies in the most basic sense are money-using and money-making machines. How do we rate a machine? Simple, we look at what it produces in relation to what it uses i.e. efficiency. Companies produce profits using the capital invested (both equity and debt). Hence to know the efficiency with which a company uses its capital, we need to look at Return on Invested Capital (ROIC). That’s the fourth parameter

Finally, if a company borrows money, it should be able to repay it without serious difficulty over a reasonable period of time. Debt-to-Net Profit ratio tells us the number of years in which the company will be able to repay the debt. Hence the fifth parameter to look for is its Debt-to-Net Profit Ratio.

How can you be absolutely sure if a company’s financial track record is great or not?

We have checked over 1500 companies and arrived at a gold standard that only the best meet: A company that has been growing its EPS, Net Sales and BVPS by 12%+ year-on-year; has a ROIC of over 12% every year; and can pay off its debt in less than 3 years i.e. a Debt-to-Net Profit ratio of 3 or less – has a great Financial Track Record. Companies meeting this gold standard are wonderful companies worth short listing.
Such companies are quite likely to have a moat – a sustainable competitive advantage, which has allowed it to post great numbers. So, now you know how important these 5 parameters are!

We are sure your next question now is ‘Where do I get these 5 Financial Parameters, without wasting any time?’ It was ours too earlier. So we searched high and low and found that it was not available anywhere. And, we chose the road less travelled – we decided to make it available These crucial 5 parameters, over 10 years are now available as a simple and powerful 10 YEAR X-RAY at MoneyWorks4me.com

The World's 10 Best Stocks

Here's what that top-10 list looks like when we include foreign stocks:

Company	Return 2004-2008	Country
Grupo Elektra	877%	Mexico
Southwestern Energy	870%	United States
Doosan Heavy Industries	855%	South Korea
NMDC	826%	India
Japan Steel Works	825%	Japan
Apple	699%	United States
Tullow Oil	669%	United Kingdom
Zijin Mining	664%	China
China Overseas Land and Investment	659%	Hong Kong
Intuitive Surgical	643%	United States

Data from Capital IQ (a division of Standard and Poor's) and company websites. Includes companies capitalized at more than $300 million on Dec. 31, 2003, with verifiable stock-price histories.

Stocks above 50 DMA

Script name	Price	30 DMA	50 DMA
Action Construction Equipments Ltd	46.75	48.22	46.5
Adani Power Ltd	119.35	119.68	118.25
Accel Frontline Ltd	56.9	49.64	49.48
Allahabad Bank	162.1	160.07	156.2
Andhra Sugars Ltd	125.35	125.9	124.15
Ansal Properties & Infrastructure L	83	82.96	80.53
Areva T&D India Ltd	286.45	265.29	279.03
Arvind Remedies Ltd	1.9	1.8	1.84
Arrow Textiles Ltd	8.15	8.04	8.13
Arshiya International Ltd	200.55	198.4	198.65
Bannari Amman Sugars Ltd	901	894.8	900.44
Batliboi Ltd	31.65	30.95	30.96
Centum Electronics Ltd	108.05	111.02	107.2
Colgate-Palmolive (India) Ltd	733.15	732.2	720.77
CRISIL Ltd	5431.05	5448.46	5394.07
DCM Ltd	53.05	51.65	51.45
Deepak Fertilizers & Petrochemicals	112.15	112.24	111.86
Elecon Engineering Company Ltd	77.9	78.72	77.55
Elnet Technologies Ltd	57.2	58.56	56.75
Entertainment Network (India) Ltd	201.6	197.86	200.89
Euro Ceramics Ltd	51.75	53.61	51.7
Fag Bearings India Ltd	555.85	563.92	550.07
Finolex Industries Ltd	69.3	72.93	68.58
Fresenius Kabi Oncology Ltd	134.4	129.55	127.36
Gallantt Metal Ltd	29.6	27.61	27.8
Gandhi Special Tubes Ltd	99.65	98.75	97.56
Gemini Communication Ltd	31.95	33.68	31.52
GMR Ferro Alloys & Industries Ltd	43.3	43.74	43.12
Greaves Cotton Ltd	331.45	342.69	330.43
Greenply Industries Ltd	181.9	174.84	179.13
Gujarat State Petronet Ltd	91.6	92.73	91.34
Himadri Chemicals & Industries Ltd	509.1	518.46	502.18
HCL Technologies Ltd	377.1	382.52	373.7
Indiabulls Securities Ltd	30.55	30.5	30.16
IFCI Ltd	52.45	51.2	51.25
Indraprastha Gas Ltd	236.75	231.74	228.42
Indoco Remedies Ltd	400.7	406.32	397.04
Ipca Laboratories Ltd	264.3	256.9	261.04
Jain Studios Ltd	11.5	11.68	11.43
Jocil Ltd	277.75	275.67	271.03
JSW Energy Ltd	118.25	120.25	117.82
Jubilant Organosys Ltd	343.85	337.9	340.41
Kirloskar Brothers Ltd	260.2	274.01	259.52
Lakshmi Vilas Bank Ltd	79.1	79.73	79.03
Mahindra & Mahindra Ltd	545.95	530.88	531.4
Man Industries (India) Ltd	72.6	69.92	71.57
Motherson Sumi Systems Ltd	138.15	135.33	136.26
Nagarjuna Construction Company Ltd	172.55	173.28	171.08
National Aluminium Company Ltd	410	407.42	405.87
Nectar Lifescience Ltd	38.9	39.02	38.65
NESCO Ltd	1133.5	1109.68	1100.1
Omaxe Ltd	94.15	93.38	93.01
Orient Abrasives Ltd	32.25	32.77	31.58
Oriental Bank of Commerce	329.15	335.4	328.83
Orient Paper & Industries Ltd	57.75	59.01	56.61
Parsvnath Developers Ltd	124.55	119.46	118.07
Petronet LNG Ltd	82.2	82.12	81.19
Plethico Pharmaceuticals Ltd	373.95	369.06	372.42
Ponni Sugars (Erode) Ltd	104.3	100.41	101.65
Pratibha Industries Ltd	405.35	387.61	384.64
Pantaloon Retail India - B-DVR	280.05	283.57	274.68
Raj Rayon Ltd	10.15	10.24	10.08
Rajvir Industries Ltd	105	111.76	103.63
Ramco Industries Ltd	65.7	66.67	64.3
Ratnamani Metals & Tubes Ltd	122.1	123.64	116.91
Reliance Infrastructure Ltd	1057.2	1059.78	1056.72
Shipping Corporation of India Ltd	163	161.77	160.11
Shasun Chemicals & Drugs Ltd	59.1	61.63	58.75
Shivam Autotech Ltd	107.15	112.33	107.06
Simplex Infrastructures Ltd	478	480.73	471.13
South Indian Bank Ltd	167.95	158.39	162.91
Sterling Biotech Ltd	111.7	112.81	111.6
Store One Retail India Ltd	30.25	28.85	30.16
Surya Roshni Ltd	86.3	86.07	85.38
Syndicate Bank	89.6	89.64	88.6
Syndicate Bank	514.3	546.58	513.7
Tata Tea Ltd	1059.5	1044.5	1015.55
Thermax Ltd	701.5	696.36	693.84
Timken India Ltd	113.15	115.6	112.3
Torrent Pharmaceuticals Ltd	538	523.28	523.97
Vardhman Acrylics Ltd	12.8	13.54	12.68
VST Industries Ltd	541.5	540.82	536.96
Wendt India Ltd	750	748.08	731.2
W S Industries (India) Ltd	45.6	46.68	45.58

The Price shows the Last close of the stock, based on NSE EOD data

Higher Stock Dividend Being Paid By Companies

Data available for 377 companies shows that 131 of them have increased dividend for the year ended March 2009 or December 2008. The list of higher stock dividend paying companies also includes a few companies where the data is available for the year ended September 2008 or June 2008.

This is seen as some consolation to investors, given the bruising capital losses they have suffered because of last year’s stock market turmoil.

EID Parry, Coromandel Fertilisers, Stovec Industries, VST Industries, Crisil, ICI India, Sulzer India, Nestle India and Clariant Chemicals are among the companies, which paid the highest dividend. “If companies are paying higher dividend, it is a positive trend, as it would help in boosting morale of shareholders, particularly those who have been holding shares with a long-term point of view,” said an analyst with a Mumbai-based broking house.

Sugar company EID Parry paid out 1000% dividend for 2008-09, compared with 25% previous year. On a standalone basis, the company recorded a bumper profit of Rs 692 crore on sales of Rs 812 crore, compared with a loss of Rs 17 crore on sales of Rs 651 crore in 2007-08. Its earnings were boosted by large extraordinary income of Rs 750 crore earned in the form of a profit on sale of investments.

Coromandel Fertilisers hiked dividend from 175% to 500% last fiscal. The company’s sales jumped 150% to Rs 9,375 crore, while its net profit rose by 137% to Rs 496 crore, thanks to exceptional income of Rs 159 crore. Some analysts are of the view that even if a company pays exceptionally high dividend in a particularly year, factors such as the industry it operates in, the management’s background, cash flows and past dividend record should be considered before an investment call is made.

“It is important to see if a company is paying dividend out of normal profit or profit earned from extraordinary sources. In normal circumstances, higher dividend shows the management has a good confidence in prospects of the company,” said Anagram Stock Broking head of research VK Sharma. The broking firm expects public sector companies, including banks, to maintain their dividend track records in the coming years.

The list of high stock dividend paying companies, also includes multinational companies Sulzer India, Nestle India and Clariant Chemicals. The companies paid dividends of 350%, 425% and 190%, respectively, in the year ended December 2008, compared with 100%, 330% and 100%, respectively, in the previous year. In these cases, point out analysts, foreign promoters would be the major beneficiaries due to their large stakes in companies.

Three Potential Companies for Long Term Buy

AllCargo Global Logistics Limited (ALLCARGO): It is a logistics service provider dealing with multi-modal transport operations, which include less than container load and full container load cargos for exporters and importers. It owns container freight stations near major ports in India. It also has presence in Europe and is expanding in to airfreight business.

• Operating Cash flow (overall increasing trend, but not consistent)
• Debt (higher than cash flow and net profits)
• Dividends (yes)
• Reported Net Profit (positive, overall increasing trend)
• Margins (positive, stable to improving trends)
• Capital usage (stable in mid-teens)
• This seems to be a good company with much focused business staying with freight transportation. The company has high debt. However, the fact that owners have very high stake (79%), means owners have high confidence that it is manageable.
• I have a kind of mixed observation, not great but not bad enough to ignore. I will read more and see if it has merit for my long term portfolio goals.

Aditya Birla Chemicals (India) Limited (ABCIL): It is provider of chemical products like caustic soda, chlorine and its derivatives, and compressed hydrogen gas. Aditya Birla Group has a majority stake in this venture. Being purely in commodity business, its business model is to make money by operational excellence and economy of scale. If an investor wants to buy shares in this company, it should be driven by quality of management. There is nothing unique about its business model, products, and/or market share. It will always be beaten down in competition.

• Operating Cash flow (overall increasing trend, always more than net profits)
• Debt (higher than cash flow, but continuously reducing)
• Dividends (yes)
• Reported Net Profit (positive, overall increasing trend)
• Margins (positive, and surprisingly high for commodity business)
• Capital usage (stable around 20s)
• Being in a commodity business, I was surprised to see high cash flow, good margins, and return of capital employed. The company also seems to have continued to improve by debt reduction, and operation excellence.
• I like the company solely due to the quality of management and its ability to execute in highly competitive business segment. I initiated a starter position in this company so that I can follow it much better. Shortly, I will provide my analysis.
• [April 16, 2007] Detailed analysis on ABCIL
  

Zydus Wellness Limited (ZYDUSWELL): This Company is subsidiary of Cadilla Healthcare. The consumer business of Cadilla was divested and integrated into Carnation Nutra Analogue. This merged business was renamed as Zydus Wellness Limited. It provides health care conscious food products and skin care products. The food products include low cholesterol butter, margarine spreads, and sugar free. The skin care products include face wash and scrubs. To me, this is another commodity business directly facing the consumer; something like an FMCG business. Branding, operational excellence and economies of scale play significant role in company’s profitability.

• Operating Cash flow (overall increasing, but not consistent, most of the time higher than profits)
• Debt (no debt, I like such companies)
• Dividends (yes)
• Reported Net Profit (positive, and overall increasing trends)
• Margins (positive, overall improving trends)
• Capital usage (positive, and decent)
• I like this company because of its debt free balance sheet, cash flow, and branding in the market. To me, it appears that management is doing good job of maintaining decent margins and use of capital.
• One aspect that makes me take a pause is future growth plans. Does it plan to go health conscious driven consumer products in food segment OR does it plan to become run-of-the-mill personal care Products Company? Need to read more.

All three companies seem to have good potential for my long term portfolio. But these are just based on preliminary overview type of reading. Who knows, when we dig deeper something else may pop up. Readers may be little curious that all three of these companies are not a typical dividend type company that I look for. Based on what I have read so far, I put these in a group of well run companies with good managements.

Number of Stocks in Long Term Portfolio

There are two questions that will always haunt any long term investor. One is about what is a right asset allocation, and second is how many stocks one needs in a long term portfolio. I do not think there is any boiler plate type of answer to these questions. I believe while it is absolutely necessary to have an optimum asset allocation and multiple number of stocks, the actual percentage allocation or number of stocks will depend upon individuals risk profile, willing to learn, willing to spend time reading about companies, etc. In addition, these two aspects cannot be generalized and it cannot be a static numbers. These have to be dynamic and should change with the investing time period. Having said that following is my thought process for my long term portfolio.

In my case, I am looking to companies that pay dividends and have potential to grow over a period of time. It is my belief that as companies grow their earnings, they will grow their dividends (this addresses my cash flow or income objective). In addition, it will also be accompanied by capital appreciation (this addresses my objective of wealth accumulation). The question is how many companies should I include in my portfolio?

My vision is that I should have approximately 25 to 30 companies that occupy up to 75% of my investing portfolio. I view this as a core portfolio. The companies that I plan on including in this are the ones that are somehow associated with India’s growth story or ones that sell into Indian market.

• The rationale of using 25 to 30 companies is that I want to limit my dividend exposure to any single company to maximum of 5%. In one my earlier post, I have discussed the process of risk management and asset allocation.
• I do not expect 100% success rate in my company selection. Keep with this, I expect that 15 to 18 companies will perform as per my initial expectation and will continue to provide growing dividends over time. I also expect that they will continue to increase their value.
• The remaining 12 to 15 may or may not perform, and hence I will have to continue to make changes such as adding to existing ones, removing, and adding newer ones.

Furthermore, I tend to think that it would be nearly impossible for me to keep track and closely follow more than 30 companies. This is what my present thought process is. I will see how it works out and will adapt if necessary. One the benefit of long term investing is that you do not need to keep following the market daily or monthly; the companies that you select are not going to vanish or crash in such short period of time.

Dividend Paying Companies – India

Indian companies paying dividends and actual dividend amount for last ten years.

Companies	Total Since 2000	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000
ONGC	254.0		32.0	31.0	38.0	45.0	30.0	27.0	31.0	13.5	6.5
Nestle India	224.0	21.0	33.0	32.0	26.0	27.5	20.0	20.0	18.0	14.0	12.5
Bajaj Holdings & Investment Ltd.	206.0	10.0	20.0	40.0	40.0	25.0	25.0	14.0	14.0	8.0	10.0
GlaxoSmith Pharma	192.5	40.0	36.0	31.0	28.0	24.0	10.0	7.0	5.5	5.0	6.0
Housing DFC	185.0	30.0	25.0	22.0	20.0	17.0	13.5	11.0	25.0	12.5	9.0
Bosch	158.8	25.0	25.0	16.0	12.0	10.0	6.5	4.0	3.3	31.0	26.0
Hero Honda Motors	156.0	20.0	19.0	17.0	20.0	20.0	20.0	18.0	17.0	3.0	2.0
Larsen & Toubro	127.0	10.5	15.0	15.0	22.0	17.5	26.0	7.5	7.0	6.5
State Bank of India	126.5	29.0	21.5	14.0	14.0	12.5	11.0	8.5	6.0	5.0	5.0
Asian Paints	117.0	19.5	17.0	13.0	12.5	9.5	8.5	11.0	9.0	7.0	10.0
Foseco India	111.9	3.5	15.0	16.0	17.5	15.5	18.5	27.5	0.9	1.0
Tata Investments Corp	105.1	15.0	15.0	15.0	12.0	12.0	10.1	6.0	6.0	6.0	8.0
Gujarat Gas	104.0	3.0	3.0	3.0	12.5	10.0	10.0	10.0	10.0	32.5	10.0
Mahindra and Mahindra	86.5	10.0	11.5	11.5	10.0	13.0	9.0	5.5	5.0	5.5	5.5
Revathi Equipment Ltd.	78.0		10.0	10.0	10.0	7.5	2.5	0.0	10.0	28.0	0.0
Reliance Industries	77.9	13.0	13.0	11.0	10.0	7.5	5.3	5.0	4.8	4.3	4.0
Tata Motors	76.0	6.0	15.0	15.0	13.0	12.5	8.0	4.0			2.5
GE Shipping	72.3	8.0	15.0	11.5	10.0	9.0	6.5	4.0	4.0	2.8	1.5
ICICI Bank	69.5	11.0	11.0	10.0	8.5	8.5	7.5	7.5	2.0	2.0	1.5
Thermax	67.9	5.0	8.0	6.0	3.4	12.0	12.0	12.0	5.0	1.0	3.5
Hawkins Cooker Ltd.	54.0	20.0	10.0	7.0	5.0	3.0	1.0	0.0	1.0	3.0	4.0
Dr Reddys Labs	53.3	6.3	3.8	3.8	5.0	5.0	5.0	5.0	2.5	14.0	3.0
Grindwell Norton	52.0	4.0	4.0	7.5	11.0	10.0	6.5	6.0	3.0	0.0	0.0
Reliance Infra	49.2	7.0	6.3	5.3	3.8	3.7	4.7	6.4	4.3	4.0	3.7
HDFC Bank	48.1	10.0	8.5	7.0	5.5	4.5	3.5	3.0	2.5	2.0	1.6
Bajaj Auto Ltd.	42.0	22.0	20.0
Bajaj Auto Finance	38.5	2.0	1.0	3.0	4.0	7.5	6.0	4.5	4.5	3.0	3.0
Reliance Capital	36.1	6.5	5.5	3.5	3.2	3.0	2.9	2.9	2.9	2.9	2.8
Dabur India	33.9	1.8	1.5	1.8	2.5	2.5	2.0	1.4	0.5	10.0	10.0
Voltamp Transformer	33.5	12.5	12.5	8.0	0.5
Greaves Cotton	33.0	4.0	6.0	7.0	7.0	7.0	2.0	0.0	0.0	0.0	0.0
Bank of India	31.5	8.0	4.0	1.5	5.0	2.0	3.0	3.0	2.5	1.5	1.0
Bombay Dyeing	30.5	1.0	3.5	5.0	5.0	4.0	4.0	3.0	0.0	2.0	3.0
Blue Star Ltd.	29.1	7.0	7.0	3.0	2.4	2.0	1.8	1.8	1.4	1.2	1.5
Crompton Greaves	28.4	2.1	1.9	1.4	7.0	5.5	7.5	3.0
Hyderabad Industries Ltd.	27.5	10.0	5.0	5.0	5.0	2.5	0.0	0.0	0.0	0.0	0.0
Trinton Valves Ltd.	27.5	15.0	12.5
ICI India	24.0	16.0	8.0
Aegis Logistics	21.5	7.3	2.0	5.0	2.5	1.2	0.8	0.5	0.8	0.7	0.7
Maruti Suzuki	21.0	4.5	5.0	4.5	3.5	2.0	1.5
Cipla	19.9	2.0	2.0	2.0	2.0	3.5	3.0	2.0	1.4	0.9	1.1
Oriental Hotels Ltd	19.5	9.0	10.5
NTPC	17.8	3.6	3.5	3.2	2.8	2.4	1.4	0.9
Sanco Transport	17.4	4.5	3.2	2.7	2.7	1.5	0.0	0.0	0.8	1.0	1.0
Royal Orchid	17.0		6.0	6.0	5.0
Kotak Mahindra Bank	16.4	0.8	0.8	0.7	0.6	1.3	2.4	2.1	2.1	3.8	1.8
Pidilite Industries Ltd.	8.4		1.8	1.5	1.3	0.8	0.8	0.8	0.7	0.5	0.4
Visaka Industries	7.0	4.0	3.0
MM Forgings Ltd.	6.5	1.5	5.0
Zuari Industries	6.0	3.0	3.0
Ajanta Pharma	5.0	2.5	2.5
Unichem Laboratories	5.0	5.0
Tilak Nagar Industried Ltd.	4.6	2.5	2.1
MRO-TEK Ltd	4.0	1.0	3.0
Chambal Fertilizer	3.6	1.8	1.8
J K Paper Ltd.	3.3	1.8	1.5
Nitin Fire Protection Industries Ltd.	3.0	3.0
ADF Foods	2.5	1.5	1.0
Ashok Leyland Ltd.	2.5	1.0	1.5
Keltech Energies Ltd.	2.5	2.5
Everest Kanto Cylinder	2.4	1.2	1.2
Power Grid Corporation	2.4	1.2	1.2
Joyti Structures Ltd.	1.7	0.9	0.8