Market Update

Results Today:

Allsec Tech, Apollo Hospitals, Atlas Copco, Centurion Bank of Punjab, Century Textiles, Dabur India, Dewan Housing, Dr. Reddy's, Emco, Greenply, Jindal Stainless, Kewal Kiran Clothing, M&M Financial Services, Nitco Tiles, Omaxe Auto, Rolta, Siemens, Sun Pharma, Union Bank and Venus Remedies.

Fund Activity:

FIIs were net buyers of Rs11.56bn (provisional) in the cash segment on Friday. On the other hand, local institutions were net sellers at Rs3.44bn. From the F&O segment, FIIs withdrew Rs8.84bn.

On Thursday, FIIs poured in Rs8.83bn in the cash segment. Mutual Funds were net buyers of Rs1.12bn.

Major bulk Deals:

Kotak has bought Balasore Alloys; Bear Stearns has picked up Bhagyanagar Industries; ABN Amro Bank has purchased Classic Diamonds; Credit Suisse has bought Donear Industries; Reliance Capital has picked up Fulford India while Azim Premji has sold the stock; UBS Securities has purchased Geometric Software; First Carlyle Ventures has purchased Great Offshore while Motilal Oswal and UTI MF have sold the stock; Citigroup has purchased JK Lakshmi Cement; ICICI Securities has picked up Oil Country; Merrill Lynch has bought Sujana Metal while Citigroup has sold the stock.

Insider Trades:

McDowell Holdings Limited: Management of FMR Corp and its direct and indirect subsidiaries and Fidelity International Ltd. and its direct and indirect subsidiaries has sold in open market 549257 equity shares of the company on 12th July,
2007.

Goldstone Technologies Ltd: Standard Chartered Premier Equity Fund has purchased from open market 433500 equity shares of the company on 13th July, 2007.

Geometric Software Solutions Co. Limited: Manu Parpia, Founder & Vice Chairman has sold in open market 481595 equity shares of the company on 20th July, 2007.

Lower Circuit:

GVK power and Bala Steel.

Upper Circuit:

BF Utilities, Accentia Technology, GTL Infrastructure, Godavari Fertilizer, Zuari Industries, Marksons Pharma, Ganesh Forgings and
Jaybharat Textiles.

Delivery Delight (Rising Price & Rising Delivery):

Dr. Reddy's, Amtek Auto, BEL, Suzlon, Radico Khaitan, Punj Lloyd, CEAT, Pantaloon, HCC and Rolta.

Abnormal Delivery:

Indiabulls Financial, ACC, Cambridge Solutions, India Cements, Aptech, Dr. Reddy's, Orchid, KEC Intl, Lupin, Canara Bank and FT.

Major News & Announcements:

Inflation was 4.27% in week ended July 7 vs expectations of 4.32%

Hindustan Unilever board to mull buy back of shares on July 29

ICICI Bank Q1 net profit at Rs7.75bn (up 25%), revenues at Rs92.81bn (up 53.4%)

Hanung Toys plans to raise $50mn

Swaraj Mazda Board to consider Right Issue on 27th July

Punj Lloyd signs up for new plant in UAE

Hindustan Zinc raises zinc prices by 2.2%, lead prices by 2.6%

Voltas Q1 net profit at Rs521.6mn (up 139.8%), sales at Rs8.25bn (up 42.2%)

Gujarat Ambuja Cement Q2 profit at Rs8.78bn (up 168%), net sales at Rs14.64bn (11.4%)

Ultratech Cement Q1 net profit at Rs2.59bn (up 23.3%) and net sales at Rs13.65 (up 15.6%)

Govt not considering relief package for IT sector on rupee issue, says Kamal Nath

Exide Industries to buy 26% stake in Australian firm

Jindal Drilling to consider stock split on 30th July.