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INVESTMENT DECISIONS RATIONALE

23-07-2010

200 securities ofAshok Leyland are purchased at Rs. 73.25.

The above decision was taken based on the possible M&A of Ashok Leyland with Optare and

its Joint Venture with Renault. Also the profits in the 1st

Quarter increased 16 fold coupled

with a projected sales increase.

27-07-2010

300 securities ofAndhra Bankare purchased at Rs. 137.4.

The Q1 profits coupled with the opinion of market experts and an in depth analysis of the

Balance Sheet showed Andhra Bank to be a top gainer in the long term.

150 securities ofHCL Technologies are purchased at Rs. 380.5.

The Q1 profits of HCL reflected excellent earning potential. HCLs lateral hiring policy could

give it an edge in increasing its margins in the long run.

29-07-2010

50 securities ofSun Pharmaceuticals are purchased at Rs. 1779.75.

Sun Pharmas ability to resist the takeover and its Q1 profits make it seem like a profitable

investment decision, in addition to the good prospects of the Pharma industry. Also Sun

Pharma is amongst the top 5 performers in the Pharma Industry.

02-08-2010

50 securities ofSun Pharmaceuticals are sold at 1775.47.

The stocks in Sun Pharma are sold in order to cut losses and invest the limited funds in other

profitable ventures.

80 securities ofBajaj Auto are purchased at 2725.5.

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The July sales of Bajaj Auto, launch of the new Avenger bike and clear and strong long term

strategy make it a profitable stock in the long run.

04-08-2010

500 securities ofGMR Infra are purchased at 57.7.

The Infrastructure industry was performing well and GMRs ability to get its short term loan

refinanced expressed the faith of the Banks in its ability to perform.

05-08-2010

200 securities ofAshok Leyland are sold at 72.9.

The securities were sold due to the patchy performance of Ashok Leyland. Also the case

against them regarding the CNG buses for the Commonwealth games made it a risky

investment.

06-08-2010

150 securities ofHCL Technologies are sold at 412.05.

The securities are sold with the aim of encashing in on the short term profit made by the

securities.

09-08-2010

50 securities ofTATA Motors are purchased at 919.4.

Improvement in the S&P credit rating and improved sales in Q1 make it seem an attractive

option.

13-08-2010

100 securities ofAdani Enterprises are purchased at 626.5.

The increase in profits, Merger of the 7 Adani companies with the Parent Company and

acquisition of the coal mine make it seem like a profitable venture.

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16-08-2010

100 securities of Crompton Greaves are purchased at Rs. 289.65.

Many positive international mergers and acquisitions especially with EIC in Saudi Arabia

make Crompton Greaves a good investment option.

17-08-2010

500 securities ofGMR Infra are sold at Rs.59.95.

Patchy performance and bleak prospects of growth prompted the sale of GMR infra before

any losses could occur.

Portfolio Value as on 24-08-2010

Scrip Name Quantity Price Value

Andhra Bank 300 154.95 46485

Bajaj Auto 80 2848.65 227892

Tata Motors 50 1011.75 50587.5

Adani Enterprises 100 668.65 66865

Crompton Greaves 100 285.05 28505

Value of stocks held 420334.5

Closing Cash Balance 108713.5Total value of the portfolio 529048

Percentage of return 5.8096