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					Ghalla &Bhansali Securities Pvt. Ltd.
November 24, 2009


       News & Equity Markets
News                                                                                           Top Gainers on Nifty
Economy                                                                    Script           Latest C lose      Previous C lose
      The price of gold has soared 11.5 percent since India's
                                                                       HC LTEC H                345                326.1
       central bank at the start of November bought 200 tonnes
       from the International Monetary Fund.                           GAIL                    411.5               390.3
      Sugarcane growers have decided to set up their own              C IPLA                  323.5              308.75
       crushers, even as the deadlock between farmers and mill-
       owners continued.
                                                                                               Top Losers on Nifty
      The government will consider lowering import d uty on
       hybrid vehicles to encourage the automakers to introduce            Script           Latest C lose      Previous C lose
       more environment friendly products in the country.
                                                                       BHARTIARTL              274.6              288.75
      The US continues to impose restrictions on export of as
       many as 11 of its 16 dual use technology regimes to India,      IDEA                     49.2               51.05
       despite New Delhi being publicly praised by the
       administration for its impeccable track record on nuclear       JPASSOC IAT             229.1               232.9
       non-proliferation.

      The government has drawn up an ambitious target to lay                                 Lastest        Previous
                                                                          Indices                                          Chan
       18,637km network of brand new expressways by 2022.                                      Close           close
                                                                                                       Domestic

Government                                                             BSE Sensex        17,180.18           17,021.85     158.3
    The Government today said that it has approved the                S&P C NX Nifty       5,103.55         5,052.45       51.1
     Jawaharlal Nehru National Solar Mission with an aim of
     setting up 20,000 MW grid solar power and 2,000 MW off -          BSE 200              2,129.88         2,112.95      16.9
     grid solar power by 2022.                                         BSE 500              6,658.33         6,606.00      52.3
      The Government is in the final s tage of notifying the fuel                                 International
       efficiency standards for automobile sector in the country
       which will be enforced from 2011, Environment Minister          US Markets
       Jairam Ramesh said today.
                                                                       DJIA              10,450.95           10,318.16     132.7
      Government will introduce one billion (100 crore) polymer       Nasdaq
       notes of Rs 10 in a bid to increase their lifetime.                                  2,176.01         2,146.04      29.9
                                                                       C omposite
      Andhra Pradesh chief minister K Rosaiah said here that the                                  Asian Market
       ruling C ong-ress government would abide by the apex
                                                                       Nikkei Stock
       court’s verdict on the alleged irregularities by mining firm                         9,497.68         9,549.47      -51.7
                                                                       Average 225
       Obalapuram Mining C ompany (OMC ) in the Bellary reserve
       forest of Anantapur district.                                   Straits Times
                                                                                            2,797.88         2,761.54      36.3
                                                                       Index
                                                                       Hang Seng
                                                                                         22,771.39           22,455.84     315.5
                                                                       Index
Regulatory
     Insurance regulator IRDA is mulling to put a cap of Rs 1.5       KOSPI Index          1,619.05         1,620.60       -1.5
      crore on the annual salary of chief executive , which could      Shanghai
      be paid from the policyholders’ fund.                            C omposite           3,338.66         3,308.34      30.3
      The government plans to offer six loss-making public sector     Index
       units on long-term lease to private players for periods up to                            European Markets
       99 years, as norms that make these firms unattractive for
                                                                       FTSE 100
       buyers.                                                                              5,355.50         5,251.41      104.0
                                                                       (London)
      The Union communication and the finance ministry are            C AC 40
       involved in a fresh standoff over the date from which telcos                         3,813.17         3,729.36      83.8
                                                                       (France)
       should pay increased spectrum usage charges.                    Xetra Dax
                                                                                             5,801.48       5,663.15 138.3
      Political    differences between     India    and    C hina     (Germany)
       notwithstanding, the two countries are working in unison at DJIA -Dow Jones Industrial Av erage

       the World Trade Organisation. India recently supported a
       proposal by C hina seeking more representation in the WTO
                                                                                                Advances & Declines
       secretariat in Geneva.
                                                                                                      BSE
      Sugar companies in north India, especially Uttar Pradesh,
       will lose out on potentially extra profit margins with the      Group             A              B         S   Tot
       rollback of proposed changes in the government sugar
       pricing policy.                                              Advances            122            1084     273   156

                                                                       Declines         80             832        179       117
International                                                          Unchanged        1              67         15          88
     Russia's state post said on Monday it would cut at least 8
                                                                       Total            203         1983          467       282
      per cent of its workforce -- or some 33,000 jobs -- in 2010
      in a bid to improve efficiency and cut costs.
      C hina Telecom aims to sell BlackBerry handsets and Palm
       smartphones in C hina by early next year, as it tries to gain                         Commodity Review
       share from its two larger mobile telecom rivals.                                             INR
Equity Markets                                                                                    FII Inv (Equity) Rs Crore
         India's No. 6 mobile services provider Tata Teleservices                                                     Aug-
                                                                                        23-Nov     Oct-09    Sep-09              Ju
          extended its per-second billing scheme to roaming calls as                                                    09
          well, as the tariff war in the world's fastest-growing wireless     Buy        2292      70130     69885     51980     70
          market heats up.
                                                                              Sell       2417      61053     49945     47951     58
         Japanese auto major Toyota today said it is considering to
          set up an engine and transmission plant in India as it looks        Net        125       9077      19940     4029      11
          to use more vehicle-parts made here in its cars than impor t
          them.

         IBM announced new and extended collaboration with six                                    MF Inv (Equity) Rs Crore
          engineering and technology colleges in the state of Tamil                     19-
          Nadu to provide a pla tform for development of software                       Nov      Oct-09     Sep-09    Aug-09    Jul-
          skills among the students.
                                                                              Buy       510      16252      15852     17452     225
         ITC flared up to a fresh 52-week high of Rs 270, and finally
          settled with a gain of 3.5% at Rs 269.                              Sell      686      21446      18187     16881     207

         50% of foreign money in markets from 'tax havens' such as           Net       -176     -5194      -2335      571       18
          Mauritius, Hong Kong and Luxembourg.
         In addition to qualified institutional placements (QIPs) and
          public debt mobilisation, listed companies have also used
          the preferential allotment route to raise working capital.

         SEBI has served an amended show cause notice (SC N) to
         Reliance Industries (RIL) in the case of alleged insider
          trading in shares of Reliance Petroleum, which has now
          been merged with RIL.

         A growing number of promoters are rushing to convert their
          equity warrants ahead of the maturity, an indication of their
          regaining confidence in the shares of their companies.

Debt Markets                                                            MF Scheme Performance
        Federal bond yields inched up on Monday as some traders
         locked in profits after yields fell to a six -week low on
         Friday, but the absence of a bond auction this week
                                                                            Scheme Name                                        3 Mt
         supported prices.
                                                                            Diversified Equity
        The yield on the 10-year benchmark bond was at 7.20. It
         had ended at 7.18 per cent on Friday, its lo west since            Principal Emerging Bluechip Fund-G                 21.7
         since Oct 8. The yield fell 14 basis points last week.
                                                                            ICIC I Prudential Discovery Fund-G                 15.0

                                                                            Reliance Equity Opportunities Fund-G               23.4

                                                                            UTI Master Value Fund - G                          22.6
                                        Previous
  Key Rates              Latest                         Month Ago
                                          Day                               Sectorial
      C all Rate           3.3             3.3              3.3             Taurus Infrastructure Fund - G                      7.26
  NSE Mibor               3.27             3.28            3.27             Sahara Banking & Financial Services Fund-G         25.3
 Reverse Repo             3.25             3.25            3.25             Franklin Pharma Fund - G                           27.7
  Bank Rate                 6                6               6
                                                                            Reliance Pharma Fund - G                           26.1
        C RR                5                5               5
                                                                            Fund of Fund
        Repo              4.75             4.75            4.75
                                                                            AIG World Gold Fund - G                            28.2

                                                                            DSP BlackRock World Gold Fund-G                    22.9

                                                                            Kotak Equity FOF - G                               14.8

                    Corp Bond Spreads(bps)                                  ING Latin America Equity Fund - G                  14.7
                 Tenor                       AAA          AA+          AA         Gilt Fund
                    1                       83.90       109.90       128.90       Birla Sun Life G Sec Fund - LT - G                         2.83
                    3                       88.50       122.50       143.50       JM G Sec Regular Plan - G                                  2.79
                    5                       76.70       106.70       131.70       Edelweiss Gilt fund - G                                    2.92
                    10                      88.90       115.90       157.90       Sundaram BNP Paribas Gilt Fund - G                         2.92
       As on 20 November 2009                                                     Debt Income
Note - one day lag                                                                ICIC I Prudential Income Fund -G                           2.16

                                                                                  Kotak Bond Deposit - G                                     2.08

                                                                                  Birla Sun Life Income Fund - G                             3.28

                                                                                  Escorts Income Plan- G                                     2.66

                                                                                  Liquid

                                                                                  Fortis Overnight Fund - G                                  1.24

                                                                                  Escorts Liquid Plan - G                                    1.45

                                                                                  LIC MF Liquid Fund - G                                      1.2

                                                                                  HDFC Cash Mgmt Fund - Savings Plan - G                     1.11

                                                                                  ETFs

                                                                                  Junior BeES                                               20.3

                                                                                  Reliance Banking ETF                                      25.4

                                                                                  Kotak PSU Bank ETF                                        32.0

                                                                                  PSU Bank BeES                                             28.8
                                                                                 Returns are as per lates t NAV.
                                                                                 * returns for all periods are abs olute.




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